EARNINGS PER SHARE (Tables)

6 Months Ended

Jun. 30, 2013

Earnings Per Share [Abstract]

Earnings Per Share Computation

The following table summarizes the computation of basic and diluted earnings per share:

	(In Millions, Except Per Share Amounts)
	Three Months Ended June 30,					Six Months Ended June 30,
	2013			2012		2013			2012
Net Income from Continuing Operations attributable to Cliffs shareholders	$	146.0		$	255.7	$	253.0		$	626.0
Income from Discontinued Operations,     net of tax	—			2.3		—			7.8
NET INCOME ATTRIBUTABLE TO CLIFFS SHAREHOLDERS	$	146.0		$	258.0	$	253.0		$	633.8
PREFERRED STOCK DIVIDENDS	(12.9		)	—		(22.8		)	—
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS	$	133.1		$	258.0	$	230.2		$	633.8
Weighted Average Number of Shares:
Basic	153.0			142.4		150.4			142.3
Depositary Shares	25.2			—		19.1			—
Employee Stock Plans	0.2			0.4		0.2			0.5
Diluted	178.4			142.8		169.7			142.8
Earnings per Common Share Attributable to Cliffs Shareholders - Basic:
Continuing operations	$	0.87		$	1.79	$	1.53		$	4.40
Discontinued operations	—			0.02		—			0.05
	$	0.87		$	1.81	$	1.53		$	4.45
Earnings per Common Share Attributable to Cliffs Shareholders - Diluted:
Continuing operations	$	0.82		$	1.79	$	1.49		$	4.39
Discontinued operations	—			0.02		—			0.05
	$	0.82		$	1.81	$	1.49		$	4.44