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SEGMENT REPORTING (Tables) | 9 Months Ended
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Sep. 30, 2016
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, 2016 and 2015, including a reconciliation of segment sales margin to Income (Loss) from Continuing Operations Before Income Taxes and a reconciliation of Net Income (Loss) to EBITDA and Adjusted EBITDA:
| (In Millions)
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2016 |  | 2015 |  | 2016 |  | 2015
Revenues from product sales and services: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Iron Ore | $ | 428.3 |  |  | 77 | % |  | $ | 471.0 |  |  | 79 | % |  | $ | 975.5 |  |  | 72 | % |  | $ | 1,152.5 |  |  | 75 | %
Asia Pacific Iron Ore | 125.0 |  |  | 23 | % |  | 122.2 |  |  | 21 | % |  | 379.5 |  |  | 28 | % |  | 384.8 |  |  | 25 | %
Total revenues from product sales and services | $ | 553.3 |  |  | 100 | % |  | $ | 593.2 |  |  | 100 | % |  | $ | 1,355.0 |  |  | 100 | % |  | $ | 1,537.3 |  |  | 100 | %
Sales margin: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Iron Ore | $ | 66.5 |  |  |  |  | $ | 48.7 |  |  |  |  | $ | 149.7 |  |  |  |  | $ | 177.7 |  |  |
Asia Pacific Iron Ore | 18.9 |  |  |  |  | 6.4 |  |  |  |  | 58.1 |  |  |  |  | 15.5 |  |  |
Sales margin | 85.4 |  |  |  |  | 55.1 |  |  |  |  | 207.8 |  |  |  |  | 193.2 |  |  |
Other operating expense | (50.7 | ) |  |  |  | (25.9 | ) |  |  |  | (98.7 | ) |  |  |  | (66.4 | ) |  |
Other income (expense) | (66.9 | ) |  |  |  | 17.4 |  |  |  |  | 8.3 |  |  |  |  | 221.7 |  |  |
Income (loss) from continuing operations before income taxes | $ | (32.2 | ) |  |  |  | $ | 46.6 |  |  |  |  | $ | 117.4 |  |  |  |  | $ | 348.5 |  |  |
| (In Millions)
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2016 |  | 2015 |  | 2016 |  | 2015
Net Income (Loss) | $ | (27.8 | ) |  | $ | 6.0 |  |  | $ | 118.5 |  |  | $ | (690.5 | )
Less: |  |  |  |  |  |  |
Interest expense, net | (48.7 | ) |  | (62.3 | ) |  | (156.2 | ) |  | (170.7 | )
Income tax benefit (expense) | 7.1 |  |  | 4.8 |  |  | 1.7 |  |  | (167.3 | )
Depreciation, depletion and amortization | (26.8 | ) |  | (35.6 | ) |  | (88.9 | ) |  | (99.1 | )
EBITDA | $ | 40.6 |  |  | $ | 99.1 |  |  | $ | 361.9 |  |  | $ | (253.4 | )
Less: |  |  |  |  |  |  |
Impairment of other long-lived assets | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (3.3 | )
Impact of discontinued operations | (2.7 | ) |  | (44.8 | ) |  | (0.6 | ) |  | (865.9 | )
Gain (loss) on extinguishment/restructuring of debt | (18.3 | ) |  | 79.2 |  |  | 164.1 |  |  | 392.9 |
Severance and contractor termination costs | — |  |  | 2.2 |  |  | (0.1 | ) |  | (9.3 | )
Foreign exchange remeasurement | (0.3 | ) |  | 2.4 |  |  | (1.2 | ) |  | 15.2 |
Adjusted EBITDA | $ | 61.9 |  |  | $ | 60.1 |  |  | $ | 199.7 |  |  | $ | 217.0 |
EBITDA: |  |  |  |  |  |  |
U.S. Iron Ore | $ | 61.1 |  |  | $ | 69.2 |  |  | $ | 196.6 |  |  | $ | 239.6 |
Asia Pacific Iron Ore | 21.2 |  |  | 11.1 |  |  | 69.6 |  |  | 38.7 |
Other | (41.7 | ) |  | 18.8 |  |  | 95.7 |  |  | (531.7 | )
Total EBITDA | $ | 40.6 |  |  | $ | 99.1 |  |  | $ | 361.9 |  |  | $ | (253.4 | )
Adjusted EBITDA: |  |  |  |  |  |  |
U.S. Iron Ore | $ | 65.3 |  |  | $ | 72.3 |  |  | $ | 208.6 |  |  | $ | 254.6 |
Asia Pacific Iron Ore | 23.7 |  |  | 9.7 |  |  | 73.2 |  |  | 32.8 |
Other | (27.1 | ) |  | (21.9 | ) |  | (82.1 | ) |  | (70.4 | )
Total Adjusted EBITDA | $ | 61.9 |  |  | $ | 60.1 |  |  | $ | 199.7 |  |  | $ | 217.0 |
| (In Millions)
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2016 |  | 2015 |  | 2016 |  | 2015
Depreciation, depletion and amortization: |  |  |  |  |  |  |
U.S. Iron Ore | $ | 18.8 |  |  | $ | 27.9 |  |  | $ | 65.1 |  |  | $ | 71.6 |
Asia Pacific Iron Ore | 6.3 |  |  | 6.1 |  |  | 19.2 |  |  | 19.1 |
Other | 1.7 |  |  | 1.6 |  |  | 4.6 |  |  | 5.2 |
Total depreciation, depletion and amortization | $ | 26.8 |  |  | $ | 35.6 |  |  | $ | 88.9 |  |  | $ | 95.9 |
Capital additions 1: |  |  |  |  |  |  |
U.S. Iron Ore | $ | 25.8 |  |  | $ | 15.0 |  |  | $ | 39.5 |  |  | $ | 35.8 |
Asia Pacific Iron Ore | 0.2 |  |  | 0.3 |  |  | 0.2 |  |  | 4.8 |
Other | 0.4 |  |  | 2.4 |  |  | 4.8 |  |  | 6.0 |
Total capital additions | $ | 26.4 |  |  | $ | 17.7 |  |  | $ | 44.5 |  |  | $ | 46.6 |
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, 2016 |  | December 31, 2015
Assets: |  |  |
U.S. Iron Ore | $ | 1,429.0 |  |  | $ | 1,476.4 |
Asia Pacific Iron Ore | 137.7 |  |  | 202.5 |
Total segment assets | 1,566.7 |  |  | 1,678.9 |
Corporate | 206.2 |  |  | 441.7 |
Assets of Discontinued Operations | — |  |  | 14.9 |
Total assets | $ | 1,772.9 |  |  | $ | 2,135.5 |

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- 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=68060357&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=68060357&loc=d3e8924-108599 + Details
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- 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=68060357&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=68060357&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=68060357&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=68060357&loc=d3e8736-108599 + Details
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