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DISCONTINUED OPERATIONS | 9 Months Ended
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Sep. 30, 2019
Discontinued Operations and Disposal Groups [Abstract] |
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] | NOTE 13 - DISCONTINUED OPERATIONS The information below sets forth selected financial information related to operating results of our businesses classified as discontinued operations, which include our former Asia Pacific Iron Ore, North American Coal and Canadian operations. While the reclassification of revenues and expenses related to discontinued operations from prior periods have no impact upon previously reported Net income, the Statements of Unaudited Condensed Consolidated Operations present the revenues and expenses that were reclassified from the specified line items to Income (loss) from discontinued operations, net of tax and the Statements of Unaudited Condensed Consolidated Financial Position present the assets and liabilities that were reclassified from the specified line items to Other current assets, Other current liabilities and Other liabilities. The charts below provide an asset group breakout for each financial statement line impacted by discontinued operations.
|  | (In Millions)
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
|  | 2019 |  | 2018 |  | 2019 |  | 2018
Income (loss) from discontinued operations, net of tax |  |  |  |  |  |  |  |
Asia Pacific Iron Ore |  | $ | (0.1 | ) |  | $ | 242.3 |  |  | $ | (1.1 | ) |  | $ | 117.6 |
North American Coal |  | (0.8 | ) |  | (4.3 | ) |  | (0.4 | ) |  | (4.2 | )
Canadian Operations |  | — |  |  | — |  |  | — |  |  | (10.6 | )
|  | $ | (0.9 | ) |  | $ | 238.0 |  |  | $ | (1.5 | ) |  | $ | 102.8 |
|  | (In Millions)
|  | Nine Months Ended September 30,
|  | 2019 |  | 2018
Net cash used by operating activities |  |  |  |
Asia Pacific Iron Ore |  | $ | (1.9 | ) |  | $ | (77.0 | )
Canadian Operations |  | — |  |  | (14.6 | )
|  | $ | (1.9 | ) |  | $ | (91.6 | )
Net cash provided by investing activities |  |  |  |
Asia Pacific Iron Ore |  | $ | 0.1 |  |  | $ | 17.8 |
|  | $ | 0.1 |  |  | $ | 17.8 |
For the nine months ended September 30, 2018, we had $27.1 million of non-cash financing activities related to the release of asset retirement obligations at Asia Pacific Iron Ore as part of the sale of substantially all remaining assets. Asia Pacific Iron Ore Operations Background In January 2018, we announced that we would accelerate the time frame for the planned closure of our Asia Pacific Iron Ore mining operations in Australia. In April 2018, we committed to a course of action leading to the permanent closure of the Asia Pacific Iron Ore mining operations and, as planned, completed our final shipment in June 2018. Factors considered in this decision included increasingly discounted prices for lower-iron-content ore and the quality of the remaining iron ore reserves. During 2018, we sold all of the assets of our Asia Pacific Iron Ore business through a series of sales to third parties. As a result of our exit, management determined that our Asia Pacific Iron Ore operating segment met the criteria to be classified as held for sale and a discontinued operation under ASC Topic 205, Presentation of Financial Statements. As such, all Asia Pacific Iron Ore operating segment results are classified within discontinued operations. Income (Loss) from Discontinued Operations
|  | (In Millions)
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
Income (Loss) from Discontinued Operations |  | 2019 |  | 2018 |  | 2019 |  | 2018
Revenues from product sales and services |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 129.1 |
Cost of goods sold |  | — |  |  | (0.5 | ) |  | — |  |  | (230.7 | )
Sales margin |  | — |  |  | (0.5 | ) |  | — |  |  | (101.6 | )
Other operating expense |  | — |  |  | 14.8 |  |  | (0.8 | ) |  | (4.0 | )
Other expense |  | (0.1 | ) |  | (0.1 | ) |  | (0.3 | ) |  | (2.3 | )
Gain on foreign currency translation |  | — |  |  | 228.1 |  |  | — |  |  | 228.1 |
Impairment of long-lived assets |  | — |  |  | — |  |  | — |  |  | (2.6 | )
Income (loss) from discontinued operations, net of tax |  | $ | (0.1 | ) |  | $ | 242.3 |  |  | $ | (1.1 | ) |  | $ | 117.6 |
Gain on Foreign Currency Translation As a result of the liquidation of the Australian subsidiaries' net assets, the historical changes in foreign currency translation recorded in Accumulated other comprehensive loss in the Statements of Unaudited Condensed Consolidated Financial Position totaling $228.1 million was reclassified and recognized as a gain in Income (loss) from discontinued operations, net of tax in the Statements of Unaudited Condensed Consolidated Operations for the three and nine months ended September 30, 2018. Canadian Operations During 2015, we announced that the Bloom Lake Group and the Wabush Group commenced restructuring proceedings in Montreal, Quebec under the CCAA to address the immediate liquidity issues and to preserve and protect their assets for the benefit of all stakeholders while restructuring and/or sale options were explored. The Bloom Lake Group and the Wabush Group filed a joint plan of compromise and arrangement that was approved by the required majorities of each unsecured creditor class and was sanctioned by the Court in June 2018. During July 2018, amendments were made to the plan to address the manner in which certain distributions under the plan would be effected and the plan was implemented. During the third quarter of 2018, under the terms of the amended plan, we and certain of our wholly-owned subsidiaries made a C$19.0 million cash contribution to the Wabush Group pension plans and agreed to contribute into the CCAA estate any remaining distributions or payments we may be entitled to receive as creditors of the Bloom Lake Group and the Wabush Group for distribution to other creditors. The original plan did not resolve certain employee claims asserted against us and certain of our affiliates outside of the CCAA proceedings. The amended plan resolved those employee claims, all claims by the Bloom Lake Group, the Wabush Group and their respective creditors against us as well as all of our claims against the Bloom Lake Group and the Wabush Group.

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- Definition The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=2122178 + Details
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