As expected, the company?s results were negatively impacted by lower realized iron ore prices. However, Cliffs? cost rationalization efforts helped offset some of the negative effects of a weak commodities pricing environment on the company?s results. Cliffs? adjusted EBITDA figure, which excludes the impact of one-time and non-cash items on the company?s profits, stood at $65 million in Q2 2015, as compared to $224 million in the corresponding period of 2014. Cliffs changed its reporting structure with effect from Q1 2015. It now reports its North American Coal division separately, since its coal mining operations constitute a part of its non-core operations, which it intends to sell.
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