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SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION | 3 Months Ended
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Mar. 31, 2020
Disclosure Text Block [Abstract] |
Supplementary Financial Statement Information | Revenues The following table represents our consolidated Revenues (excluding intercompany revenues) by market:
| (In Millions)
| Three Months Ended March 31,
| 2020 |  | 2019
Steel and Manufacturing: |  |  |
Automotive | $ | 120.2 |  |  | $ | — |
Infrastructure and manufacturing | 44.0 |  |  | — |
Distributors and converters | 53.3 |  |  | — |
Total Steel and Manufacturing | 217.5 |  |  | — |
Mining and Pelletizing: |  |  |
Steel producers 1 | 141.6 |  |  | 157.0 |
Total revenues | $ | 359.1 |  |  | $ | 157.0 |
1 Includes Realization of deferred revenue of $34.6 million for the three months ended March 31, 2020. The following table represents our consolidated Revenues (excluding intercompany revenues) by product line:
| (In Millions)
| Three Months Ended March 31,
| 2020 |  | 2019
Steel and Manufacturing: |  |  |
Carbon steel | $ | 138.6 |  |  | $ | — |
Stainless and electrical steel | 59.4 |  |  | — |
Tubular products, components and other | 19.5 |  |  | — |
Total Steel and Manufacturing | 217.5 |  |  | — |
Mining and Pelletizing: |  |  |
Iron ore 1 | 131.3 |  |  | 145.4 |
Freight | 10.3 |  |  | 11.6 |
Total Mining and Pelletizing | 141.6 |  |  | 157.0 |
Total revenues | $ | 359.1 |  |  | $ | 157.0 |
1 Includes Realization of deferred revenue of $34.6 million for the three months ended March 31, 2020. We sell domestically to customers located primarily in the Midwestern, Southern and Eastern United States and to foreign customers, primarily in Canada, Mexico and Western Europe. Net revenues to customers located outside the United States were $46.7 million and $43.0 million for the three months ended March 31, 2020 and 2019, respectively. Allowance for Credit Losses The following is a roll forward of our allowance for credit losses associated with Accounts receivable, net:
| (In Millions)
| March 31, 2020 |  | March 31, 2019
Allowance for credit losses at beginning of period | $ | — |  |  | $ | — |
Increase in allowance | 1.2 |  |  | — |
Allowance for credit losses at end of period | $ | 1.2 |  |  | $ | — |
Inventories The following table presents the detail of our Inventories in the Statements of Unaudited Condensed Consolidated Financial Position:
| (In Millions)
| March 31, 2020 |  | December 31, 2019
Product inventories |  |  |
Finished and semi-finished goods | $ | 1,358.9 |  |  | $ | 114.1 |
Work-in-process | 88.0 |  |  | 68.7 |
Raw materials | 343.0 |  |  | 9.4 |
Total product inventories | 1,789.9 |  |  | 192.2 |
Manufacturing supplies and critical spares | 358.9 |  |  | 125.2 |
Inventories | $ | 2,148.8 |  |  | $ | 317.4 |
Accrued Liabilities The following table presents the detail of our Accrued liabilities in the Statements of Unaudited Condensed Consolidated Financial Position:
| (In Millions)
| March 31, 2020 |  | December 31, 2019
Accrued employment costs | $ | 158.3 |  |  | $ | 61.7 |
Accrued interest | 47.1 |  |  | 29.0 |
Accrued dividends | 24.9 |  |  | 17.8 |
Other | 69.5 |  |  | 17.8 |
Accrued liabilities | $ | 299.8 |  |  | $ | 126.3 |
Cash Flow Information A reconciliation of capital additions to cash paid for capital expenditures is as follows:
| (In Millions)
| Three Months Ended March 31,
| 2020 |  | 2019
Capital additions | $ | 157.7 |  |  | $ | 129.3 |
Less: |  |  |
Non-cash accruals | (10.3 | ) |  | (11.5 | )
Right-of-use assets - finance leases | 29.9 |  |  | 15.1 |
Grants | — |  |  | (8.4 | )
Cash paid for capital expenditures including deposits | $ | 138.1 |  |  | $ | 134.1 |
Cash payments (receipts) for income taxes and interest are as follows:
| (In Millions)
| Three Months Ended March 31,
| 2020 |  | 2019
Taxes paid on income | $ | 0.1 |  |  | $ | 0.1 |
Income tax refunds | (60.4 | ) |  | — |
Interest paid on debt obligations net of capitalized interest 1 | 29.7 |  |  | 39.2 |
1 Capitalized interest was $9.7 million and $4.0 million for the three months ended March 31, 2020 and 2019, respectively. Non-Cash Investing and Financing Activities
| (In Millions)
| Three Months Ended March 31,
| 2020 |  | 2019
Fair value of common shares issued for consideration for business combination | $ | 617.6 |  |  | $ | — |
Fair value of equity awards assumed from AK Steel acquisition | 4.3 |  |  | — |
Dividends declared | 24.0 |  |  | 14.5 |
On February 18, 2020, our Board declared a quarterly cash dividend on our common shares of $0.06 per share. The cash dividend of $23.9 million was paid on April 15, 2020 to shareholders of record as of the close of business on April 3, 2020.

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