XML 28 R13.htm IDEA: XBRL DOCUMENT
v3.7.0.1

PENSIONS AND OTHER POSTRETIREMENT BENEFITS | 3 Months Ended
--- | ---
Mar. 31, 2017
Postemployment Benefits [Abstract] |
PENSIONS AND OTHER POSTRETIREMENT BENEFITS | NOTE 7 - PENSIONS AND OTHER POSTRETIREMENT BENEFITS We offer defined benefit pension plans, defined contribution pension plans and OPEB plans, primarily consisting of retiree healthcare benefits, to most employees in the United States as part of a total compensation and benefits program. We do not have employee retirement benefit obligations at our Asia Pacific Iron Ore operations. The defined benefit pension plans largely are noncontributory and benefits generally are based on a minimum formula or employees’ years of service and average earnings for a defined period prior to retirement. The following are the components of defined benefit pension and OPEB costs and credits for the three months ended March 31, 2017 and 2016: Defined Benefit Pension Costs
| (In Millions)
| Three Months Ended March 31,
| 2017 |  | 2016
Service cost | $ | 4.8 |  |  | $ | 4.5 |
Interest cost | 7.5 |  |  | 7.5 |
Expected return on plan assets | (13.5 | ) |  | (13.7 | )
Amortization: |  |  |
Prior service costs | 0.6 |  |  | 0.5 |
Net actuarial loss | 5.3 |  |  | 5.3 |
Net periodic benefit cost to continuing operations | $ | 4.7 |  |  | $ | 4.1 |
Other Postretirement Benefits Credit
| (In Millions)
| Three Months Ended March 31,
| 2017 |  | 2016
Service cost | $ | 0.5 |  |  | $ | 0.4 |
Interest cost | 2.1 |  |  | 2.3 |
Expected return on plan assets | (4.4 | ) |  | (4.3 | )
Amortization: |  |  |
Prior service credits | (0.7 | ) |  | (0.9 | )
Net actuarial loss | 1.2 |  |  | 1.4 |
Net periodic benefit credit to continuing operations | $ | (1.3 | ) |  | $ | (1.1 | )
We made no pension contributions for the three months ended March 31, 2017 compared to pension contributions of $0.3 million for the three months ended March 31, 2016. OPEB contributions are typically made on an annual basis in the first quarter of each year, but due to plan funding requirements being met, no OPEB contributions were required or made for the three months ended March 31, 2017 and March 31, 2016.

X
- Definition The entire disclosure for pension and other postretirement benefits. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 80 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=65877416&loc=SL14450702-114947 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=65897934&loc=d3e2410-114920 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 60 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6414203&loc=d3e39675-114964 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 70 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=49170846&loc=d3e28014-114942 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 60 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=66047640&loc=d3e39622-114963 + Details
Name: | us-gaap_PensionAndOtherPostretirementBenefitsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

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