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v2.4.1.9

INCOME TAXES (Tables) | 12 Months Ended
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Dec. 31, 2014
Income Tax Contingency [Line Items] |
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] | Income (Loss) from Continuing Operations Before Income Taxes and Equity Income (Loss) from Ventures includes the following components:
|  | (In Millions)
|  | 2014 |  | 2013 |  | 2012
United States |  | $ | (1,884.2 | ) |  | $ | 837.7 |  |  | $ | 838.6 |
Foreign |  | (7,719.5 | ) |  | (348.4 | ) |  | (1,340.4 | )
|  | $ | (9,603.7 | ) |  | $ | 489.3 |  |  | $ | (501.8 | )
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | The components of the provision (benefit) for income taxes on continuing operations consist of the following:
|  | (In Millions)
|  | 2014 |  | 2013 |  | 2012
Current provision (benefit): |  |  |  |  |  |
United States federal |  | $ | (159.9 | ) |  | $ | 101.3 |  |  | $ | 71.1 |
United States state & local |  | (0.6 | ) |  | 4.0 |  |  | 7.6 |
Foreign |  | 17.2 |  |  | 87.9 |  |  | 50.2 |
|  | (143.3 | ) |  | 193.2 |  |  | 128.9 |
Deferred provision (benefit): |  |  |  |  |  |
United States federal |  | (258.9 | ) |  | 23.3 |  |  | 221.2 |
United States state & local |  | (43.0 | ) |  | 3.0 |  |  | 1.4 |
Foreign |  | (856.8 | ) |  | (164.4 | ) |  | (95.6 | )
|  | (1,158.7 | ) |  | (138.1 | ) |  | 127.0 |
Total provision on income (loss) from continuing operations |  | $ | (1,302.0 | ) |  | $ | 55.1 |  |  | $ | 255.9 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Reconciliation of our income tax attributable to continuing operations computed at the U.S. federal statutory rate is as follows:
|  | (In Millions)
|  | 2014 |  | 2013 |  | 2012
Tax at U.S. statutory rate of 35 percent |  | $ | (3,361.3 | ) |  | 35.0 | % |  | $ | 171.3 |  |  | 35.0 | % |  | $ | (175.6 | ) |  | 35.0 | %
Increase (decrease) due to: |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange remeasurement |  | (4.1 | ) |  | — |  |  | (2.6 | ) |  | (0.5 | ) |  | 62.3 |  |  | (12.4 | )
Non-taxable income related to noncontrolling interests |  | 290.1 |  |  | (3.0 | ) |  | (1.5 | ) |  | (0.3 | ) |  | 61.0 |  |  | (12.0 | )
Impact of tax law change |  | 13.0 |  |  | (0.1 | ) |  | — |  |  | — |  |  | (357.1 | ) |  | 71.2 |
Percentage depletion in excess of cost depletion |  | (87.9 | ) |  | 0.9 |  |  | (97.6 | ) |  | (19.9 | ) |  | (109.1 | ) |  | 21.7 |
Impact of foreign operations |  | 592.0 |  |  | (6.2 | ) |  | (10.2 | ) |  | (2.1 | ) |  | 65.2 |  |  | (13.0 | )
Income not subject to tax |  | (46.5 | ) |  | 0.5 |  |  | (106.6 | ) |  | (21.8 | ) |  | (108.0 | ) |  | 21.5 |
Goodwill impairment |  | 22.7 |  |  | (0.2 | ) |  | 20.5 |  |  | 4.2 |  |  | 202.2 |  |  | (40.3 | )
State taxes, net |  | (43.6 | ) |  | 0.5 |  |  | 5.6 |  |  | 1.1 |  |  | 7.3 |  |  | (1.5 | )
Settlement of financial guaranty |  | (343.3 | ) |  | 3.6 |  |  | — |  |  | — |  |  | — |  |  | — |
Manufacturer’s deduction |  | — |  |  | — |  |  | (7.9 | ) |  | (1.6 | ) |  | (4.7 | ) |  | 0.9 |
Valuation allowance |  | 1,660.6 |  |  | (17.3 | ) |  | 73.0 |  |  | 14.9 |  |  | 634.5 |  |  | (126.5 | )
Tax uncertainties |  | 0.2 |  |  | — |  |  | 19.6 |  |  | 5.3 |  |  | (14.8 | ) |  | 2.9 |
Prior year adjustment in current year |  | (10.4 | ) |  | 0.1 |  |  | (11.4 | ) |  | (3.6 | ) |  | (5.7 | ) |  | 1.1 |
Other items — net |  | 16.5 |  |  | (0.2 | ) |  | 2.9 |  |  | 0.6 |  |  | (1.6 | ) |  | 0.4 |
Income tax (benefit) expense |  | $ | (1,302.0 | ) |  | 13.6 | % |  | $ | 55.1 |  |  | 11.3 | % |  | $ | 255.9 |  |  | (51.0 | )%
Income Taxes Other Than Continuing Operations Disclosure Text Block [Table Text Block] | The components of income taxes for other than continuing operations consisted of the following:
|  | (In Millions)
|  | 2014 |  | 2013 |  | 2012
Other comprehensive (income) loss: |  |  |  |  |  |
Pension/OPEB liability |  | $ | 39.8 |  |  | $ | 100.0 |  |  | $ | 13.8 |
Mark-to-market adjustments |  | 3.6 |  |  | 2.0 |  |  | 1.7 |
Other |  | (1.1 | ) |  | (12.4 | ) |  | 2.6 |
Total |  | $ | 42.3 |  |  | $ | 89.6 |  |  | $ | 18.1 |
Paid in capital — acquisition of noncontrolling interest |  | $ | — |  |  | $ | 102.1 |  |  | $ | — |
Paid in capital — stock based compensation |  | $ | (4.8 | ) |  | $ | 3.5 |  |  | $ | (12.8 | )
Discontinued Operations |  | $ | — |  |  | $ | (2.0 | ) |  | $ | 10.4 |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | Significant components of our deferred tax assets and liabilities as of December 31, 2014 and 2013 are as follows:
|  | (In Millions)
|  | 2014 |  | 2013
Deferred tax assets: |  |  |  |
Pensions |  | $ | 108.3 |  |  | $ | 88.4 |
MRRT starting base allowance |  | — |  |  | 300.3 |
Postretirement benefits other than pensions |  | 63.0 |  |  | 58.0 |
Alternative minimum tax credit carryforwards |  | 267.7 |  |  | 299.2 |
Investments in ventures |  | 6.0 |  |  | — |
Asset retirement obligations |  | 48.9 |  |  | 61.7 |
Operating loss carryforwards |  | 1,083.5 |  |  | 524.4 |
Product inventories |  | 32.3 |  |  | 16.4 |
Property, plant and equipment and mineral rights |  | 901.6 |  |  | 56.0 |
State and local |  | 41.9 |  |  | — |
Lease liabilities |  | 14.1 |  |  | 31.9 |
Other liabilities |  | 153.6 |  |  | 138.3 |
Total deferred tax assets before valuation allowance |  | 2,720.9 |  |  | 1,574.6 |
Deferred tax asset valuation allowance |  | (2,224.5 | ) |  | (864.1 | )
Net deferred tax assets |  | 496.4 |  |  | 710.5 |
Deferred tax liabilities: |  |  |  |
Property, plant and equipment and mineral rights |  | (20.0 | ) |  | (1,400.8 | )
Investment in ventures |  | (198.0 | ) |  | (196.4 | )
Intangible assets |  | (7.3 | ) |  | (33.5 | )
Income tax uncertainties |  | (49.5 | ) |  | (48.5 | )
Product inventories |  | (16.6 | ) |  | (12.8 | )
Other assets |  | (80.2 | ) |  | (93.0 | )
Total deferred tax liabilities |  | (371.6 | ) |  | (1,785.0 | )
Net deferred tax assets (liabilities) |  | $ | 124.8 |  |  | $ | (1,074.5 | )
Deferred Tax Assets and Liabilities by Location [Table Text Block] | The deferred tax amounts are classified in the Statements of Consolidated Financial Position as current or long-term consistently with the underlying asset or liability that generates the basis difference between financial reporting and tax. Following is a summary:
|  | (In Millions)
|  | 2014 |  | 2013
Deferred tax assets: |  |  |  |
United States |  | $ | 165.9 |  |  | $ | 7.2 |
Foreign |  |  |  |
Current |  | 2.2 |  |  | 29.4 |
Long-term |  | 12.0 |  |  | 41.5 |
Total deferred tax assets |  | 180.1 |  |  | 78.1 |
Deferred tax liabilities: |  |  |  |
United States |  | — |  |  | 175.3 |
Foreign |  |  |  |
Current |  | 4.0 |  |  | 6.1 |
Long-term |  | 51.3 |  |  | 971.2 |
Total deferred tax liabilities |  | 55.3 |  |  | 1,152.6 |
Net deferred tax assets (liabilities) |  | $ | 124.8 |  |  | $ | (1,074.5 | )
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] | A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:
|  | (In Millions)
|  | 2014 |  | 2013 |  | 2012
Unrecognized tax benefits balance as of January 1 |  | $ | 74.4 |  |  | $ | 55.5 |  |  | $ | 102.1 |
Increases for tax positions in prior years |  | 3.4 |  |  | 13.6 |  |  | 2.7 |
Increases for tax positions in current year |  | 2.5 |  |  | 5.3 |  |  | 11.1 |
Increase due to foreign exchange |  | (0.2 | ) |  | — |  |  | — |
Settlements |  | (0.5 | ) |  | — |  |  | (60.4 | )
Lapses in statutes of limitations |  | (3.7 | ) |  | — |  |  | — |
Other |  | (1.2 | ) |  | — |  |  | — |
Unrecognized tax benefits balance as of December 31 |  | $ | 74.7 |  |  | $ | 74.4 |  |  | $ | 55.5 |

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