Quarterly report pursuant to Section 13 or 15(d)

EARNINGS PER SHARE

v2.4.0.8
EARNINGS PER SHARE
 9 Months Ended
Sep. 30, 2013
Earnings Per Share [Abstract]  
EARNINGS PER SHARE
NOTE 18 - EARNINGS PER SHARE
The following table summarizes the computation of basic and diluted earnings per share:
 
(In Millions, Except Per Share Amounts)
 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
2013
 
2012
 
2013
 
2012
Net Income from Continuing Operations
attributable to Cliffs shareholders
$
115.2

 
$
87.8

 
$
368.2

 
$
713.9

Income from Discontinued Operations,
    net of tax
2.0

 
(2.7
)
 
2.0

 
5.1

NET INCOME ATTRIBUTABLE TO CLIFFS SHAREHOLDERS
$
117.2

 
$
85.1

 
$
370.2

 
$
719.0

PREFERRED STOCK DIVIDENDS
(12.9
)
 
—

 
(35.9
)
 
—

NET INCOME ATTRIBUTABLE TO CLIFFS COMMON SHAREHOLDERS
$
104.3

 
$
85.1

 
$
334.3

 
$
719.0

Weighted Average Number of Shares:
 
 
 
 
 
 
 
Basic
153.0

 
142.4

 
151.3

 
142.3

Depositary Shares
25.2

 
—

 
21.1

 
—

Employee Stock Plans
0.2

 
0.5

 
0.2

 
0.5

Diluted
178.4

 
142.9

 
172.6

 
142.8

Earnings per Common Share Attributable to
Cliffs Common Shareholders - Basic:
 
 
 
 
 
 
 
Continuing operations
$
0.67

 
$
0.62

 
$
2.20

 
$
5.02

Discontinued operations
0.01

 
(0.02
)
 
0.01

 
0.04

 
$
0.68

 
$
0.60

 
$
2.21

 
$
5.06

Earnings per Common Share Attributable to
Cliffs Common Shareholders - Diluted:
 
 
 
 
 
 
 
Continuing operations
$
0.65

 
$
0.61

 
$
2.13

 
$
5.00

Discontinued operations
0.01

 
(0.02
)
 
0.01

 
0.04

 
$
0.66

 
$
0.59

 
$
2.14

 
$
5.04