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INVENTORIES | 12 Months Ended
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Dec. 31, 2015
Inventory Disclosure [Abstract] |
Inventories | NOTE 3 - INVENTORIES The following table presents the detail of our Inventories in the Statements of Consolidated Financial Position as of December 31, 2015 and 2014:
| (In Millions)
| December 31, 2015 |  | December 31, 2014
Segment | Finished Goods |  | Work-in Process |  | Total Inventory |  | Finished Goods |  | Work-in Process |  | Total Inventory
U.S. Iron Ore | $ | 252.3 |  |  | $ | 11.7 |  |  | $ | 264.0 |  |  | $ | 132.1 |  |  | $ | 13.5 |  |  | $ | 145.6 |
Asia Pacific Iron Ore | 20.8 |  |  | 44.8 |  |  | 65.6 |  |  | 26.4 |  |  | 88.1 |  |  | 114.5 |
Total | $ | 273.1 |  |  | $ | 56.5 |  |  | $ | 329.6 |  |  | $ | 158.5 |  |  | $ | 101.6 |  |  | $ | 260.1 |
Asia Pacific Iron Ore had long-term work-in-process stockpiles of $6.8 million classified as Other non-current assets in the Statements of Consolidated Financial Position at December 31, 2015. There were no long-term work-in-process stockpiles as of December 31, 2014. U.S. Iron Ore The excess of current cost over LIFO cost of iron ore inventories was $87.8 million and $119.0 million at December 31, 2015 and 2014, respectively. As of December 31, 2015, the product inventory balance for U.S. Iron Ore increased, resulting in a LIFO increment in 2015. The effect of the inventory build was an increase in Inventories of $118.8 million in the Statements of Consolidated Financial Position for the year ended December 31, 2015. As of December 31, 2014, the product inventory balance for U.S. Iron Ore increased, resulting in a LIFO increment in 2014. The effect of the inventory build was an increase in Inventories of $44.8 million in the Statements of Consolidated Financial Position for the year ended December 31, 2014.

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- Definition The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.6) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6361739&loc=d3e7789-107766 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 6 -Subparagraph a, b, c -Article 5 + Details
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