Annual report pursuant to Section 13 and 15(d)

QUARTERLY RESULTS OF OPERATIONS (UNAUDITED) QUARTERLY RESULTS OF OPERATIONS (Schedule of Quarterly Financial Information) (Tables)

v2.4.0.8
QUARTERLY RESULTS OF OPERATIONS (UNAUDITED) QUARTERLY RESULTS OF OPERATIONS (Schedule of Quarterly Financial Information) (Tables) (USD $)
In Millions, except Per Share data, unless otherwise specified
 3 Months Ended 12 Months Ended
Dec. 31, 2013
Sep. 30, 2013
Jun. 30, 2013
Mar. 31, 2013
Dec. 31, 2012
Sep. 30, 2012
Jun. 30, 2012
Mar. 31, 2012
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Quarterly Financial Information Disclosure [Abstract]                      
Schedule of Quarterly Financial Information [Table Text Block]                
The sum of quarterly EPS may not equal EPS for the year due to discrete quarterly calculations.
(In Millions, Except Per Share Amounts)
2013
Quarters
 
 
First
 
Second
 
Third
 
Fourth
 
Year
Revenues from product sales and services
$
1,140.5

 
$
1,488.5

 
$
1,546.6

 
$
1,515.8

 
$
5,691.4

Sales margin
237.9

 
268.2

 
348.7

 
294.5

 
1,149.3

Net Income (Loss) from Continuing Operations
    attributable to Cliffs shareholders
$
107.0

 
$
146.0

 
$
115.2

 
$
43.3

 
$
411.5

Income from Discontinued Operations
—

 
—

 
2.0

 
—

 
2.0

Net Income (Loss) Attributable to Cliffs Shareholders
$
107.0

 
$
146.0

 
$
117.2

 
$
43.3

 
$
413.5

Earnings per common share attributable to
    Cliffs common shareholders — Basic:

 

 

 

 

Continuing Operations
$
0.66

 
$
0.87

 
$
0.67

 
$
0.20

 
$
2.39

Discontinued Operations
—

 
—

 
0.01

 
—

 
0.01

 
$
0.66

 
$
0.87

 
$
0.68

 
$
0.20

 
$
2.40

Earnings per common share attributable to
    Cliffs common shareholders — Diluted:

 

 

 

 
 
Continuing Operations
$
0.66

 
$
0.82

 
$
0.65

 
$
0.20

 
$
2.36

Discontinued Operations
—

 
—

 
0.01

 
—

 
0.01

 
$
0.66

 
$
0.82

 
$
0.66

 
$
0.20

 
$
2.37

The diluted earnings per share calculation for the first and fourth quarters of 2013 exclude depositary shares that were anti-dilutive totaling 12.9 million and 25.2 million, respectively.
 
2012
Quarters
 
 
First
 
Second
 
Third
 
Fourth
 
Year
Revenues from product sales and services
$
1,212.4

 
$
1,579.5

 
$
1,544.9

 
$
1,535.9

 
$
5,872.7

Sales margin
291.8

 
443.5

 
198.3

 
238.5

 
1,172.1

Net Income (Loss) from Continuing Operations
    attributable to Cliffs shareholders
$
370.3

 
$
255.7

 
$
87.8

 
$
(1,649.1
)
 
$
(935.3
)
Income (Loss) and Gain on Sale from
    Discontinued Operations, net of tax
5.5

 
2.3

 
(2.7
)
 
30.8

 
35.9

Net Income Attributable to Cliffs Shareholders
$
375.8

 
$
258.0

 
$
85.1

 
$
(1,618.3
)
 
$
(899.4
)
Earnings per common share attributable to
    Cliffs common shareholders — Basic:

 

 

 

 

Continuing Operations
$
2.60

 
$
1.79

 
$
0.62

 
$
(11.58
)
 
$
(6.57
)
Discontinued Operations
0.04

 
0.02

 
(0.02
)
 
0.22

 
0.25

 
$
2.64

 
$
1.81

 
$
0.60

 
$
(11.36
)
 
$
(6.32
)
Earnings per common share attributable to
Cliffs common shareholders — Diluted:

 

 

 

 

Continuing Operations
$
2.59

 
$
1.79

 
$
0.61

 
$
(11.58
)
 
$
(6.57
)
Discontinued Operations
0.04

 
0.02

 
(0.02
)
 
0.22

 
0.25

 
$
2.63

 
$
1.81

 
$
0.59

 
$
(11.36
)
 
$
(6.32
)
   
Revenues $ 1,515.8 $ 1,546.6 $ 1,488.5 $ 1,140.5 $ 1,535.9 $ 1,544.9 $ 1,579.5 $ 1,212.4 $ 5,691.4 $ 5,872.7 $ 6,563.9
SALES MARGIN 294.5 348.7 268.2 237.9 238.5 198.3 443.5 291.8 1,149.3 1,172.1 2,610.9
Income (Loss) from Continuing Operations Attributable to Parent 43.3 115.2 146.0 107.0 (1,649.1) 87.8 255.7 370.3 411.5 (935.3) 1,599.0
INCOME and GAIN ON SALE FROM DISCONTINUED OPERATIONS, net of tax 0 2.0 0 0 30.8 (2.7) 2.3 5.5 2.0 35.9 20.1
NET INCOME (LOSS) ATTRIBUTABLE TO CLIFFS SHAREHOLDERS $ 43.3 $ 117.2 $ 146.0 $ 107.0 $ (1,618.3) $ 85.1 $ 258.0 $ 375.8 $ 413.5 $ (899.4) $ 1,619.1
Continuing operations $ 0.20 $ 0.67 $ 0.87 $ 0.66 $ (11.58) $ 0.62 $ 1.79 $ 2.60 $ 2.39 $ (6.57) $ 11.41
Discontinued operations $ 0.00 $ 0.01 $ 0.00 $ 0.00 $ 0.22 $ (0.02) $ 0.02 $ 0.04 $ 0.01 $ 0.25 $ 0.14
Earnings Per Share, Basic $ 0.20 $ 0.68 $ 0.87 $ 0.66 $ (11.36) $ 0.60 $ 1.81 $ 2.64 $ 2.40 $ (6.32) $ 11.55
Continuing operations $ 0.20 $ 0.65 $ 0.82 $ 0.66 $ (11.58) $ 0.61 $ 1.79 $ 2.59 $ 2.36 $ (6.57) $ 11.34
Discontinued operations $ 0.00 $ 0.01 $ 0.00 $ 0.00 $ 0.22 $ (0.02) $ 0.02 $ 0.04 $ 0.01 $ 0.25 $ 0.14
Earnings Per Share, Diluted $ 0.20 $ 0.66 $ 0.82 $ 0.66 $ (11.36) $ 0.59 $ 1.81 $ 2.63 $ 2.37 $ (6.32) $ 11.48