XML 57 R31.htm IDEA: XBRL DOCUMENT
v3.3.0.814

SEGMENT REPORTING (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2015
Segment Reporting [Abstract] |
Schedule Of Segment Reporting Information, By Segment | The following tables present a summary of our reportable segments for the three and nine months ended September 30, 2015 and 2014, including a reconciliation of segment sales margin to Income (Loss) from Continuing Operations Before Income Taxes and Equity Loss from Ventures and a reconciliation of Net Income (Loss) to EBITDA and Adjusted EBITDA:
| (In Millions)
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2015 |  | 2014 |  | 2015 |  | 2014
Revenues from product sales and services: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Iron Ore | $ | 471.0 |  |  | 79 | % |  | $ | 767.4 |  |  | 78 | % |  | $ | 1,152.5 |  |  | 75 | % |  | $ | 1,643.3 |  |  | 70 | %
Asia Pacific Iron Ore | 122.2 |  |  | 21 | % |  | 212.3 |  |  | 22 | % |  | 384.8 |  |  | 25 | % |  | 699.6 |  |  | 30 | %
Total revenues from product sales and services | $ | 593.2 |  |  | 100 | % |  | $ | 979.7 |  |  | 100 | % |  | $ | 1,537.3 |  |  | 100 | % |  | $ | 2,342.9 |  |  | 100 | %
Sales margin: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Iron Ore | $ | 48.7 |  |  |  |  | $ | 219.5 |  |  |  |  | $ | 177.7 |  |  |  |  | $ | 461.7 |  |  |
Asia Pacific Iron Ore | 6.4 |  |  |  |  | 9.1 |  |  |  |  | 15.5 |  |  |  |  | 111.4 |  |  |
Eliminations with discontinued operations | — |  |  |  |  | 27.6 |  |  |  |  | — |  |  |  |  | 56.6 |  |  |
Sales margin | 55.1 |  |  |  |  | 256.2 |  |  |  |  | 193.2 |  |  |  |  | 629.7 |  |  |
Other operating expense | (25.9 | ) |  |  |  | (399.0 | ) |  |  |  | (66.4 | ) |  |  |  | (494.0 | ) |  |
Other income (expense) | 17.4 |  |  |  |  | (38.1 | ) |  |  |  | 221.7 |  |  |  |  | (118.2 | ) |  |
Income (loss) from continuing operations before income taxes and equity loss from ventures | $ | 46.6 |  |  |  |  | $ | (180.9 | ) |  |  |  | $ | 348.5 |  |  |  |  | $ | 17.5 |  |  |
| (In Millions)
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2015 |  | 2014 |  | 2015 |  | 2014
Net Income (Loss) | $ | 6.0 |  |  | $ | (6,887.2 | ) |  | $ | (690.5 | ) |  | $ | (6,943.4 | )
Less: |  |  |  |  |  |  |
Interest expense, net | (62.3 | ) |  | (47.4 | ) |  | (170.7 | ) |  | (134.9 | )
Income tax benefit (expense) | 4.8 |  |  | 921.4 |  |  | (167.3 | ) |  | 1,012.3 |
Depreciation, depletion and amortization | (35.6 | ) |  | (144.0 | ) |  | (99.1 | ) |  | (430.4 | )
EBITDA | $ | 99.1 |  |  | $ | (7,617.2 | ) |  | $ | (253.4 | ) |  | $ | (7,390.4 | )
Less: |  |  |  |  |  |  |
Impairment of goodwill and other long-lived assets | $ | — |  |  | $ | (377.0 | ) |  | $ | (3.3 | ) |  | $ | (378.6 | )
Impact of discontinued operations | (44.8 | ) |  | (7,543.0 | ) |  | (865.9 | ) |  | (7,737.1 | )
Gain on extinguishment of debt | 79.2 |  |  | — |  |  | 392.9 |  |  | — |
Severance and contractor termination costs | 2.2 |  |  | (2.6 | ) |  | (9.3 | ) |  | (19.3 | )
Foreign exchange remeasurement | 2.4 |  |  | 25.8 |  |  | 15.2 |  |  | 8.4 |
Adjusted EBITDA | $ | 60.1 |  |  | $ | 279.6 |  |  | $ | 217.0 |  |  | $ | 736.2 |
EBITDA: |  |  |  |  |  |  |
U.S. Iron Ore | $ | 69.2 |  |  | $ | 241.9 |  |  | $ | 239.6 |  |  | $ | 538.2 |
Asia Pacific Iron Ore | 11.1 |  |  | (302.2 | ) |  | 38.7 |  |  | (150.8 | )
Other | 18.8 |  |  | (7,556.9 | ) |  | (531.7 | ) |  | (7,777.8 | )
Total EBITDA | $ | 99.1 |  |  | $ | (7,617.2 | ) |  | $ | (253.4 | ) |  | $ | (7,390.4 | )
Adjusted EBITDA: |  |  |  |  |  |  |
U.S. Iron Ore | $ | 72.3 |  |  | $ | 249.5 |  |  | $ | 254.6 |  |  | $ | 559.1 |
Asia Pacific Iron Ore | 9.7 |  |  | 49.7 |  |  | 32.8 |  |  | 225.5 |
Other | (21.9 | ) |  | (19.6 | ) |  | (70.4 | ) |  | (48.4 | )
Total Adjusted EBITDA | $ | 60.1 |  |  | $ | 279.6 |  |  | $ | 217.0 |  |  | $ | 736.2 |
| (In Millions)
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2015 |  | 2014 |  | 2015 |  | 2014
Depreciation, depletion and amortization: |  |  |  |  |  |  |
U.S. Iron Ore | $ | 27.9 |  |  | $ | 25.9 |  |  | $ | 71.6 |  |  | $ | 81.2 |
Asia Pacific Iron Ore | 6.1 |  |  | 42.2 |  |  | 19.1 |  |  | 123.6 |
Other | 1.6 |  |  | 2.0 |  |  | 5.2 |  |  | 5.9 |
Total depreciation, depletion and amortization | $ | 35.6 |  |  | $ | 70.1 |  |  | $ | 95.9 |  |  | $ | 210.7 |
Capital additions 1: |  |  |  |  |  |  |
U.S. Iron Ore | $ | 15.0 |  |  | $ | 8.5 |  |  | $ | 35.8 |  |  | $ | 37.4 |
Asia Pacific Iron Ore | 0.3 |  |  | 3.1 |  |  | 4.8 |  |  | 8.3 |
Other | 2.4 |  |  | 0.5 |  |  | 6.0 |  |  | 3.3 |
Total capital additions | $ | 17.7 |  |  | $ | 12.1 |  |  | $ | 46.6 |  |  | $ | 49.0 |
1 Includes capital lease additions and non-cash accruals. Refer to NOTE 17 - CASH FLOW INFORMATION.
Summary of Assets by Segment | A summary of assets by segment is as follows:
| (In Millions)
| September 30, 2015 |  | December 31, 2014
Assets: |  |  |
U.S. Iron Ore | $ | 1,498.3 |  |  | $ | 1,464.9 |
Asia Pacific Iron Ore | 210.5 |  |  | 274.6 |
Other | 26.3 |  |  | 147.0 |
Total segment assets | 1,735.1 |  |  | 1,886.5 |
Corporate | 395.0 |  |  | 546.8 |
Assets of Discontinued Operations | 141.4 |  |  | 730.7 |
Total assets | $ | 2,271.5 |  |  | $ | 3,164.0 |

X
- Definition Tabular disclosure of all significant reconciling items in the reconciliation of total assets from reportable segments to the entity's consolidated assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8906-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8924-108599 + Details
Name: | us-gaap_ReconciliationOfAssetsFromSegmentToConsolidatedTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8906-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8813-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=35741047&loc=d3e13816-109267 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8736-108599 + Details
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration