Quarterly report pursuant to Section 13 or 15(d)

SEGMENT REPORTING (Tables)

v2.4.0.8
SEGMENT REPORTING (Tables)
 9 Months Ended
Sep. 30, 2014
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, 2014 and 2013, including a reconciliation of segment sales margin to Income (Loss) from Continuing Operations Before Income Taxes and Equity Loss from Ventures and a reconciliation of Net Income (Loss) to EBITDA and Adjusted EBITDA:
 
(In Millions)
 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
2014
 
2013
 
2014
 
2013
Revenues from product sales and services:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. Iron Ore
$
767.4

 
59
%
 
$
782.4

 
51
%
 
$
1,643.3

 
49
%
 
$
1,894.2

 
45
%
Eastern Canadian Iron Ore
148.0

 
11
%
 
284.2

 
18
%
 
480.3

 
15
%
 
743.4

 
18
%
Asia Pacific Iron Ore
212.3

 
17
%
 
301.7

 
20
%
 
699.6

 
21
%
 
899.5

 
22
%
North American Coal
170.5

 
13
%
 
178.3

 
11
%
 
515.8

 
15
%
 
638.5

 
15
%
Total revenues from product sales and services
$
1,298.2

 
100
%
 
$
1,546.6

 
100
%
 
$
3,339.0

 
100
%
 
$
4,175.6

 
100
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Sales margin:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. Iron Ore
$
219.5

 
 
 
$
273.5

 
 
 
$
461.7

 
 
 
$
647.1

 
 
Eastern Canadian Iron Ore
(76.8
)
 
 
 
(22.0
)
 
 
 
(165.0
)
 
 
 
(52.3
)
 
 
Asia Pacific Iron Ore
9.1

 
 
 
99.0

 
 
 
111.4

 
 
 
255.3

 
 
North American Coal
(24.3
)
 
 
 
(1.8
)
 
 
 
(125.4
)
 
 
 
6.6

 
 
Other
—

 
 
 
—

 
 
 
—

 
 
 
(1.9
)
 
 
Sales margin
127.5

 
 
 
348.7

 
 
 
282.7

 
 
 
854.8

 
 
Other operating expense
(7,886.6
)
 
 
 
(124.7
)
 
 
 
(8,104.2
)
 
 
 
(200.5
)
 
 
Other expense
(40.3
)
 
 
 
(45.9
)
 
 
 
(124.4
)
 
 
 
(137.4
)
 
 
Income (loss) from continuing operations before income taxes and equity loss from ventures
$
(7,799.4
)
 
 
 
$
178.1

 
 
 
$
(7,945.9
)
 
 
 
$
516.9

 
 
 
(In Millions)
 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
2014
 
2013
 
2014
 
2013
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net Income (Loss)
$
(6,887.2
)
 
 
 
$
113.9

 
 
 
$
(6,943.4
)
 
 
 
$
376.0

 
 
Less:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest expense, net
(47.4
)
 
 
 
(44.7
)
 
 
 
(134.9
)
 
 
 
(134.5
)
 
 
Income tax benefit (expense)
921.4

 
 
 
(65.7
)
 
 
 
1,012.3

 
 
 
(69.0
)
 
 
Depreciation, depletion and amortization
(144.0
)
 
 
 
(153.1
)
 
 
 
(430.4
)
 
 
 
(438.0
)
 
 
EBITDA
$
(7,617.2
)
 
 
 
$
377.4

 
 
 
$
(7,390.4
)
 
 
 
$
1,017.5

 
 
Less:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Impairment of goodwill and other long-lived assets
$
(7,769.1
)
 
 
 
$
—

 
 
 
$
(7,773.1
)
 
 
 
$
—

 
 
Wabush related costs
(64.0
)
 
 
 
(13.0
)
 
 
 
(122.3
)
 
 
 
(2.3
)
 
 
Wabush sales margin
(20.0
)
 
 
 
(1.3
)
 
 
 
(47.5
)
 
 
 
(44.2
)
 
 
Foreign exchange remeasurement
26.4

 
 
 
(14.1
)
 
 
 
8.4

 
 
 
36.5

 
 
Proxy contest and change in control costs in SG&A
(21.9
)
 
 
 
—

 
 
 
(26.2
)
 
 
 
—

 
 
Litigation judgment
—

 
 
 
(9.6
)
 
 
 
—

 
 
 
(9.6
)
 
 
Severance in SG&A
(1.9
)
 
 
 
(8.1
)
 
 
 
(12.6
)
 
 
 
(8.1
)
 
 
Adjusted EBITDA
$
233.3

 
 
 
$
423.5

 
 
 
$
582.9

 
 
 
$
1,045.2

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
EBITDA:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. Iron Ore
$
242.1

 
 
 
$
296.9

 
 
 
$
538.4

 
 
 
$
715.9

 
 
Eastern Canadian Iron Ore
(6,423.2
)
 
 
 
(43.8
)
 
 
 
(6,537.6
)
 
 
 
(9.6
)
 
 
Asia Pacific Iron Ore
(330.9
)
 
 
 
138.1

 
 
 
(148.7
)
 
 
 
367.6

 
 
North American Coal
(827.5
)
 
 
 
31.0

 
 
 
(875.6
)
 
 
 
85.4

 
 
Other
(277.7
)
 
 
 
(44.8
)
 
 
 
(366.9
)
 
 
 
(141.8
)
 
 
Total EBITDA
$
(7,617.2
)
 
 
 
$
377.4

 
 
 
$
(7,390.4
)
 
 
 
$
1,017.5

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Adjusted EBITDA:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. Iron Ore
$
248.7

 
 
 
$
305.0

 
 
 
$
556.1

 
 
 
$
738.0

 
 
Eastern Canadian Iron Ore
(33.2
)
 
 
 
(8.6
)
 
 
 
(49.3
)
 
 
 
50.0

 
 
Asia Pacific Iron Ore
46.1

 
 
 
140.9

 
 
 
234.5

 
 
 
375.5

 
 
North American Coal
6.1

 
 
 
37.4

 
 
 
(32.2
)
 
 
 
103.2

 
 
Other
(34.4
)
 
 
 
(51.2
)
 
 
 
(126.2
)
 
 
 
(221.5
)
 
 
Total Adjusted EBITDA
$
233.3

 
 
 
$
423.5

 
 
 
$
582.9

 
 
 
$
1,045.2

 
 
 
(In Millions)
 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
2014
 
2013
 
2014
 
2013
Depreciation, depletion and amortization:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. Iron Ore
$
25.9

 
 
 
$
27.3

 
 
 
$
81.2

 
 
 
$
82.3

 
 
Eastern Canadian Iron Ore
43.6

 
 
 
46.8

 
 
 
127.2

 
 
 
130.3

 
 
Asia Pacific Iron Ore
42.2

 
 
 
38.0

 
 
 
123.6

 
 
 
116.1

 
 
North American Coal
30.3

 
 
 
38.8

 
 
 
92.2

 
 
 
99.7

 
 
Other
2.0

 
 
 
2.2

 
 
 
6.2

 
 
 
9.6

 
 
Total depreciation, depletion and amortization
$
144.0

 
 
 
$
153.1

 
 
 
$
430.4

 
 
 
$
438.0

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Capital additions1:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. Iron Ore
$
8.5

 
 
 
$
15.2

 
 
 
$
37.4

 
 
 
$
39.1

 
 
Eastern Canadian Iron Ore
37.9

 
 
 
181.5

 
 
 
112.2

 
 
 
535.3

 
 
Asia Pacific Iron Ore
3.1

 
 
 
10.4

 
 
 
8.3

 
 
 
8.6

 
 
North American Coal
4.6

 
 
 
2.0

 
 
 
24.8

 
 
 
37.2

 
 
Other
0.5

 
 
 
2.2

 
 
 
3.3

 
 
 
4.9

 
 
Total capital additions
$
54.6

 
 
 
$
211.3

 
 
 
$
186.0

 
 
 
$
625.1

 
 
                                         
1    Includes capital lease additions and non-cash accruals. Refer to NOTE 19 - CASH FLOW INFORMATION.
Summary of Assets by Segment
A summary of assets by segment is as follows:
 
(In Millions)
 
September 30,
2014
 
December 31, 2013
Assets:
 
 
 
U.S. Iron Ore
$
1,715.8

 
$
1,671.6

Eastern Canadian Iron Ore
1,113.2

 
7,915.5

Asia Pacific Iron Ore
577.2

 
1,078.4

North American Coal
904.0

 
1,841.8

Other
217.0

 
455.6

Total segment assets
4,527.2

 
12,962.9

Corporate
284.0

 
159.0

Total assets
$
4,811.2

 
$
13,121.9