|
Cleveland-Cliffs Inc and Consolidated
Subsidiaries
| |
(In
Millions, except per share)
Year Ended December 31
|
| |
2000 |
1999 |
1998 |
|
|
|
|
| REVENUES |
|
|
|
| Product
sales and services |
$379.4 |
$316.1 |
$465.7 |
| Royalties
and management fees |
50.7 |
48.5 |
49.7 |
|
|
|
|
| Total
Operating Revenues |
430.1 |
364.6 |
515.4 |
| Insurance
recovery |
15.3 |
|
|
| Interest
income |
2.9 |
3.0 |
5.4 |
| Other
income |
6.7 |
3.4 |
4.7 |
|
|
|
|
| Total
Revenues |
455.0 |
371.0 |
525.5 |
| |
|
|
|
| COSTS AND EXPENSES |
|
|
|
| Cost
of goods sold and operating expenses |
380.2 |
329.3 |
419.6 |
| Administrative,
selling and general expenses |
18.7 |
16.1 |
18.7 |
| Write-down
of common stock investment |
10.9 |
|
|
| Pre-operating
loss of Cliffs and Associates Limited |
13.3 |
8.8 |
2.3 |
| Interest
expense |
4.9 |
3.7 |
.4 |
| Other
expenses |
10.4 |
8.4 |
12.7 |
|
|
|
|
| Total
Costs and Expenses |
438.4 |
366.3 |
453.7 |
|
|
|
|
| INCOME BEFORE
INCOME TAXES |
16.6 |
4.7 |
71.8 |
| INCOME TAXES
(CREDIT) |
(1.5) |
(.1) |
14.4 |
|
|
|
|
| NET INCOME |
$18.1 |
$4.8 |
$57.4 |
|
|
|
|
| NET
INCOME PER COMMON SHARE |
|
|
|
| Basic
|
$1.74 |
$.43 |
$5.10 |
| Diluted |
$1.73 |
$.43 |
$5.06 |
| AVERAGE NUMBER
OF SHARES |
|
|
|
| Basic |
10.4 |
11.1 |
11.2 |
| Diluted |
10.4 |
11.1 |
11.3 |
*See notes
to consolidated financial statements.
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