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DISCONTINUED OPERATIONS DISCONTINUED OPERATIONS (Tables) | 3 Months Ended
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Mar. 31, 2015
Schedule of Disposal Groups, Including Discontinued Operations, Assets and Liabilities [Line Items] |
Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures [Table Text Block] | The chart below provides an asset group breakout for each financial statement line impacted by discontinued operations.
|  |  |  | Canadian Operations |  |  |
|  | North American Coal |  | Eastern Canadian Iron Ore | Other | Total Canadian Operations |  | Total of Discontinued Operations
Statements of Unaudited Condensed Consolidated Operations
Loss from Discontinued Operations, net of tax | YTD March 31, 2015 | $ | (75.7 | ) |  | $ | (852.7 | ) | $ | (0.1 | ) | $ | (852.8 | ) |  | $ | (928.5 | )
Loss from Discontinued Operations, net of tax | YTD March 31, 2014 | $ | (46.3 | ) |  | $ | (91.2 | ) | $ | (2.9 | ) | $ | (94.1 | ) |  | $ | (140.4 | )
Statements of Unaudited Condensed Consolidated Financial Position
Short-term assets of discontinued operations | As of March 31, 2015 | $ | 188.6 |  |  | $ | 8.6 |  | $ | — |  | $ | 8.6 |  |  | $ | 197.2 |
Long-term assets of discontinued operations | As of March 31, 2015 | $ | — |  |  | $ | — |  | $ | — |  | $ | — |  |  | $ | — |
Short-term liabilities of discontinued operations | As of March 31, 2015 | $ | 197.7 |  |  | $ | 67.3 |  | $ | — |  | $ | 67.3 |  |  | $ | 265.0 |
Long-term liabilities of discontinued operations | As of March 31, 2015 | $ | — |  |  | $ | 125.2 |  | $ | — |  | $ | 125.2 |  |  | $ | 125.2 |
Short-term assets of discontinued operations | As of December 31, 2014 | $ | 143.8 |  |  | $ | 183.5 |  | $ | 3.3 |  | $ | 186.8 |  |  | $ | 330.6 |
Long-term assets of discontinued operations | As of December 31, 2014 | $ | 130.4 |  |  | $ | 256.0 |  | $ | 13.7 |  | $ | 269.7 |  |  | $ | 400.1 |
Short-term liabilities of discontinued operations | As of December 31, 2014 | $ | 81.3 |  |  | $ | 316.3 |  | $ | 3.0 |  | $ | 319.3 |  |  | $ | 400.6 |
Long-term liabilities of discontinued operations | As of December 31, 2014 | $ | 125.9 |  |  | $ | 304.6 |  | $ | 5.6 |  | $ | 310.2 |  |  | $ | 436.1 |
Non-Cash Operating and Investing Activities
Depreciation, depletion and amortization: | YTD March 31, 2015 | $ | 3.2 |  |  | $ | — |  | $ | — |  | $ | — |  |  | $ | 3.2 |
Purchase of property, plant and equipment | YTD March 31, 2015 | $ | 2.5 |  |  | $ | — |  | $ | — |  | $ | — |  |  | $ | 2.5 |
Impairment of long-lived assets | YTD March 31, 2015 | $ | 73.4 |  |  | $ | — |  | $ | — |  | $ | — |  |  | $ | 73.4 |
Depreciation, depletion and amortization: | YTD March 31, 2014 | $ | 29.9 |  |  | $ | 41.2 |  | $ | 0.1 |  | $ | 41.3 |  |  | $ | 71.2 |
Purchase of property, plant and equipment | YTD March 31, 2014 | $ | 10.0 |  |  | $ | 75.6 |  | $ | — |  | $ | 75.6 |  |  | $ | 85.6 |
Impairment of long-lived assets | YTD March 31, 2014 | $ | — |  |  | $ | — |  | $ | — |  | $ | — |  |  | $ | — |
North American Coal [Member] |
Schedule of Disposal Groups, Including Discontinued Operations, Assets and Liabilities [Line Items] |
Schedule of Disposal Groups, Including Discontinued Operations, Assets and Liabilities [Table Text Block] | Recorded Assets and Liabilities
|  | (In Millions)
Assets and Liabilities of Discontinued Operations |  | March 31, 2015 |  | December 31, 2014
Accounts receivable, net |  | $ | 42.7 |  |  | $ | 44.8 |
Inventories |  | 59.7 |  |  | 50.3 |
Supplies and other inventories |  | 28.4 |  |  | 28.2 |
Other current assets |  | 29.4 |  |  | 20.5 |
Property, plant and equipment, net |  | 20.4 |  |  | 94.7 |
Other non-current assets |  | 8.0 |  |  | 35.7 |
Total assets of discontinued operations |  | $ | 188.6 |  |  | $ | 274.2 |
Accounts payable |  | $ | 23.3 |  |  | $ | 22.4 |
Accrued liabilities |  | 16.7 |  |  | 27.9 |
Other current liabilities |  | 34.7 |  |  | 31.0 |
Pension and postemployment benefit liabilities 1 |  | 56.7 |  |  | 55.8 |
Environmental and mine closure obligations |  | 34.4 |  |  | 33.9 |
Other liabilities |  | 31.9 |  |  | 36.2 |
Total liabilities of discontinued operations |  | $ | 197.7 |  |  | $ | 207.2 |
1 This does not include a liability of approximately $330 million, which is the most recent estimate of Pinnacle and Oak Grove’s combined share of the underfunded liability under the UMWA 1974 Pension Plan.
Schedule of Disposal Groups, including Discontinued Operations, Income Statement [Table Text Block] | Loss on Discontinued Operations Our planned sale of the Oak Grove and Pinnacle mine assets represents a strategic shift in our business. For this reason, our previously reported North American Coal operating segment results for all periods, prior to the March 31, 2015 held for sale determination, are classified as discontinued operations. This includes our CLCC assets, which were sold during the fourth quarter of 2014.
|  | (In Millions)
|  | Three Months Ended March 31,
Loss from Discontinued Operations |  | 2015 |  | 2014
REVENUES FROM PRODUCT SALES AND SERVICES |  | $ | 116.6 |  |  | $ | 166.2 |
COST OF GOODS SOLD AND OPERATING EXPENSES |  | (107.3 | ) |  | (214.6 | )
SALES MARGIN |  | 9.3 |  |  | (48.4 | )
OTHER OPERATING EXPENSE |  | (11.3 | ) |  | (4.5 | )
OTHER EXPENSE |  | (0.4 | ) |  | (0.6 | )
LOSS FROM DISCONTINUED OPERATIONS BEFORE INCOME TAXES |  | (2.4 | ) |  | (53.5 | )
IMPAIRMENT OF LONG-LIVED ASSETS |  | (73.4 | ) |  | — |
INCOME TAX BENEFIT |  | 0.1 |  |  | 7.2 |
LOSS FROM DISCONTINUED OPERATIONS, net of tax |  | $ | (75.7 | ) |  | $ | (46.3 | )
Discontinued Operations, Items Measured at Fair Value on a Non-Recurring Basis [Table Text Block] | Items Measured at Fair Value on a Non-Recurring Basis The following table presents information about the impairment charge on non-financial assets that was measured on a fair value basis at March 31, 2015. The tables also indicate the fair value hierarchy of the valuation techniques used to determine such fair value.
|  | (In Millions)
|  | March 31, 2015
Description |  | Quoted Prices in Active Markets for Identical Assets/ Liabilities (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |  | Total |  | Total Losses
Assets: |  |  |  |  |  |  |  |  |  |
Other long-lived assets - Property, plant and equipment and Mineral rights: North American Coal operating unit |  | $ | — |  |  | $ | — |  |  | $ | 20.4 |  |  | $ | 20.4 |  |  | $ | (73.4 | )
|  | $ | — |  |  | $ | — |  |  | $ | 20.4 |  |  | $ | 20.4 |  |  | $ | (73.4 | )
Canadian Entities [Member] |
Schedule of Disposal Groups, Including Discontinued Operations, Assets and Liabilities [Line Items] |
Schedule of Disposal Groups, Including Discontinued Operations, Assets and Liabilities [Table Text Block] | Recorded Assets and Liabilities
|  | (In Millions)
Assets and Liabilities of Discontinued Operations |  | March 31, 2015
Accounts receivable, net |  | $ | 3.0 |
Income tax receivable |  | 1.8 |
Other non-current assets |  | 3.8 |
Total Assets |  | $ | 8.6 |
Accounts payable |  | $ | 0.5 |
Accrued expenses |  | 51.1 |
Other liabilities |  | 140.9 |
Total Liabilities |  | $ | 192.5 |
|  | (In Millions)
Assets and Liabilities of Discontinued Operations |  | December 31, 2014
Cash and cash equivalents |  | $ | 19.7 |
Accounts receivable, net |  | 37.9 |
Inventories |  | 16.3 |
Supplies and other inventories |  | 48.5 |
Income tax receivable |  | 20.1 |
Other current assets |  | 44.3 |
Property, plant and equipment, net |  | 249.8 |
Other non-current assets |  | 19.9 |
Total Assets |  | $ | 456.5 |
Accounts payable |  | $ | 83.6 |
Accrued expenses |  | 200.0 |
Other current liabilities |  | 35.7 |
Pension and postemployment benefit liabilities |  | 79.8 |
Environmental and mine closure obligations |  | 56.5 |
Other liabilities |  | 173.9 |
Total Liabilities |  | $ | 629.5 |
Schedule of Disposal Groups, including Discontinued Operations, Income Statement [Table Text Block] | Loss on Discontinued Operations Our Canadian exit represents a strategic shift in our business. For this reason, our previously reported Eastern Canadian Iron Ore and Ferroalloys operating segment results for all periods prior to the January 27, 2015 deconsolidation as well as costs to exit are classified as discontinued operations.
|  | (In Millions)
|  | Three Months Ended March 31,
Loss from Discontinued Operations |  | 2015 |  | 2014
REVENUES FROM PRODUCT SALES AND SERVICES |  | $ | 11.3 |  |  | $ | 158.3 |
COST OF GOODS SOLD AND OPERATING EXPENSES |  | (11.1 | ) |  | (208.0 | )
ELIMINATIONS WITH CONTINUING OPERATIONS |  | — |  |  | (28.7 | )
SALES MARGIN |  | 0.2 |  |  | (78.4 | )
OTHER OPERATING EXPENSE |  | (33.3 | ) |  | (58.6 | )
OTHER EXPENSE |  | (1.0 | ) |  | (1.4 | )
LOSS FROM DISCONTINUED OPERATIONS BEFORE INCOME TAXES |  | (34.1 | ) |  | (138.4 | )
PRETAX EXIT COSTS |  | (818.7 | ) |  | — |
INCOME TAX BENEFIT |  | — |  |  | 44.3 |
LOSS FROM DISCONTINUED OPERATIONS, net of tax |  | $ | (852.8 | ) |  | $ | (94.1 | )
Discontinued Operations, Items Measured at Fair Value on a Non-Recurring Basis [Table Text Block] | Items Measured at Fair Value on a Non-Recurring Basis The following table presents information about the financial assets and liabilities that was measured on a fair value basis at March 31, 2015. The tables also indicate the fair value hierarchy of the valuation techniques used to determine such fair value.
|  | (In Millions)
|  | March 31, 2015
Description |  | Quoted Prices in Active Markets for Identical Assets/ Liabilities (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |  | Total |  | Total Losses
Assets: |  |  |  |  |  |  |  |  |  |
Loans to and accounts receivables from the Canadian Entities |  | $ | — |  |  | $ | — |  |  | $ | 112.1 |  |  | $ | 112.1 |  |  | $ | (476.0 | )
Liabilities: |  |  |  |  |  |  |  |  |  |
Contingent liabilities and joint and several liabilities |  | $ | — |  |  | $ | — |  |  | $ | 342.7 |  |  | $ | 342.7 |  |  | $ | (342.7 | )
PreTax Exit Costs [Table Text Block] | The first quarter Canadian Entities pretax exit costs totaled $818.7 million and included the following:
|  | (In Millions)
|  | Three Months Ended March 31,
Pretax Exit Costs |  | 2015
Investment Impairment on Deconsolidation |  | $ | (476.0 | )
Contingent Liabilities |  | (342.7 | )
Total Pretax Exit Costs |  | $ | (818.7 | )

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- Definition Tabular disclosure of disposal groups, which may include the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the classification and carrying value of the assets and liabilities comprising the disposal group, and the segment in which the disposal group was reported. Also may include the amount of adjustments to amounts previously reported in discontinued operations such as resolution of contingencies arising from the disposal transaction or the operations of the component prior to disposal. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1361-107760 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e957-107759 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1510-107760 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1474-107760 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 45 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=8077374&loc=d3e2443-110228 + Details
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