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SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION (Tables) | 6 Months Ended
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Jun. 30, 2020
Disclosure Text Block [Abstract] |
Revenues from Product Sales and Services [Table Text Block] | The following table represents our consolidated Revenues (excluding intercompany revenues) by market:
| (In Millions)
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2020 |  | 2019 |  | 2020 |  | 2019
Steel and Manufacturing: |  |  |  |  |  |  |
Automotive | $ | 363.8 |  |  | $ | — |  |  | $ | 484.0 |  |  | $ | — |
Infrastructure and manufacturing | 203.4 |  |  | — |  |  | 247.4 |  |  | — |
Distributors and converters | 147.9 |  |  | — |  |  | 201.2 |  |  | — |
Total Steel and Manufacturing | 715.1 |  |  | — |  |  | 932.6 |  |  | — |
Mining and Pelletizing: |  |  |  |  |  |  |
Steel producers 1 | 377.6 |  |  | 743.2 |  |  | 519.2 |  |  | 900.2 |
Total revenues | $ | 1,092.7 |  |  | $ | 743.2 |  |  | $ | 1,451.8 |  |  | $ | 900.2 |
1 Includes Realization of deferred revenue of $34.6 million for the six months ended June 30, 2020. The following table represents our consolidated Revenues (excluding intercompany revenues) by product line:
| (In Millions)
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2020 |  | 2019 |  | 2020 |  | 2019
Steel and Manufacturing: |  |  |  |  |  |  |
Carbon steel | $ | 431.8 |  |  | $ | — |  |  | $ | 570.4 |  |  | $ | — |
Stainless and electrical steel | 222.5 |  |  | — |  |  | 281.9 |  |  | — |
Tubular products, components and other | 60.8 |  |  | — |  |  | 80.3 |  |  | — |
Total Steel and Manufacturing | 715.1 |  |  | — |  |  | 932.6 |  |  | — |
Mining and Pelletizing: |  |  |  |  |  |  |
Iron ore 1 | 349.7 |  |  | 697.4 |  |  | 481.0 |  |  | 842.8 |
Freight | 27.9 |  |  | 45.8 |  |  | 38.2 |  |  | 57.4 |
Total Mining and Pelletizing | 377.6 |  |  | 743.2 |  |  | 519.2 |  |  | 900.2 |
Total revenues | $ | 1,092.7 |  |  | $ | 743.2 |  |  | $ | 1,451.8 |  |  | $ | 900.2 |
1 Includes Realization of deferred revenue of $34.6 million for the six months ended June 30, 2020.
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | The following is a roll forward of our allowance for credit losses associated with Accounts receivable, net:
| (In Millions)
| 2020 |  | 2019
Allowance for credit losses as of January 1 | $ | — |  |  | $ | — |
Increase in allowance | 4.3 |  |  | — |
Allowance for credit losses as of June 30 | $ | 4.3 |  |  | $ | — |
Schedule of Inventory, Current [Table Text Block] | The following table presents the detail of our Inventories in the Statements of Unaudited Condensed Consolidated Financial Position:
| (In Millions)
| June 30, 2020 |  | December 31, 2019
Product inventories |  |  |
Finished and semi-finished goods | $ | 1,026.4 |  |  | $ | 114.1 |
Work-in-process | 89.5 |  |  | 68.7 |
Raw materials | 438.0 |  |  | 9.4 |
Total product inventories | 1,553.9 |  |  | 192.2 |
Manufacturing supplies and critical spares | 379.7 |  |  | 125.2 |
Inventories | $ | 1,933.6 |  |  | $ | 317.4 |
Contract with Customer, Asset and Liability [Table Text Block] | The table below summarizes our deferred revenue balances:
| (In Millions)
| Deferred Revenue (Current) |  | Deferred Revenue (Long-Term)
| 2020 |  | 2019 |  | 2020 |  | 2019
Opening balance as of January 1 | $ | 22.1 |  |  | $ | 21.0 |  |  | $ | 25.7 |  |  | $ | 38.5 |
Net decrease | (17.2 | ) |  | (5.5 | ) |  | (25.7 | ) |  | (4.2 | )
Closing balance as of June 30 | $ | 4.9 |  |  | $ | 15.5 |  |  | $ | — |  |  | $ | 34.3 |
Schedule of Accrued Liabilities [Table Text Block] | The following table presents the detail of our Accrued liabilities in the Statements of Unaudited Condensed Consolidated Financial Position:
| (In Millions)
| June 30, 2020 |  | December 31, 2019
Accrued employment costs | $ | 153.8 |  |  | $ | 61.7 |
Accrued interest | 71.5 |  |  | 29.0 |
Accrued dividends | 1.1 |  |  | 17.8 |
Other | 61.9 |  |  | 17.8 |
Accrued liabilities | $ | 288.3 |  |  | $ | 126.3 |
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block] | A reconciliation of capital additions to cash paid for capital expenditures is as follows:
| (In Millions)
| Six Months Ended June 30,
| 2020 |  | 2019
Capital additions | $ | 230.7 |  |  | $ | 320.9 |
Less: |  |  |
Non-cash accruals | (91.6 | ) |  | 3.6 |
Right-of-use assets - finance leases | 39.4 |  |  | 24.8 |
Grants | — |  |  | (8.4 | )
Cash paid for capital expenditures including deposits | $ | 282.9 |  |  | $ | 300.9 |
Cash payments (receipts) for income taxes and interest are as follows:
| (In Millions)
| Six Months Ended June 30,
| 2020 |  | 2019
Taxes paid on income | $ | 0.2 |  |  | $ | 0.1 |
Income tax refunds | (60.4 | ) |  | (117.9 | )
Interest paid on debt obligations net of capitalized interest 1 | 63.0 |  |  | 53.2 |
1 Capitalized interest was $23.3 million and $9.9 million for the six months ended June 30, 2020 and 2019, respectively. Non-Cash Investing and Financing Activities
| (In Millions)
| Six Months Ended June 30,
| 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 | 3.9 |  |  | — |

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