Annual report pursuant to Section 13 and 15(d)

GOODWILL AND OTHER INTANGIBLE ASSETS AND LIABILITIES (Tables)

v2.4.0.6
GOODWILL AND OTHER INTANGIBLE ASSETS AND LIABILITIES (Tables)
 12 Months Ended
Dec. 31, 2012
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule Of Goodwill
The following table summarizes changes in the carrying amount of goodwill allocated by operating segment for the year ended December 31, 2012 and the year ended December 31, 2011:
 
(In Millions)
 
December 31, 2012
 
December 31, 2011
 
U.S. Iron Ore
 
Eastern Canadian Iron Ore
 
Asia Pacific
Iron Ore
 
North American Coal
 
Other
 
Total
 
U.S. Iron Ore
 
Eastern
Canadian Iron Ore
 
Asia Pacific Iron Ore
 
North American Coal
 
Other
 
Total
Beginning Balance
$
2.0

 
$
986.2

 
$
83.0

 
$
—

 
$
80.9

 
$
1,152.1

 
$
2.0

 
$
3.1

 
$
82.6

 
$
27.9

 
$
80.9

 
$
196.5

Arising in business combinations
—

 
13.8

 
—

 
—

 
—

 
13.8

 
—

 
983.5

 
—

 
(0.1
)
 
—

 
983.4

Impairment
—

 
(1,000.0
)
 
—

 
—

 
—

 
(1,000.0
)
 
—

 
—

 
—

 
(27.8
)
 
—

 
(27.8
)
Impact of foreign currency translation
—

 
—

 
1.5

 
—

 
—

 
1.5

 
—

 
—

 
0.4

 
—

 
—

 
0.4

Other
—

 
—

 
—

 
—

 
—

 
—

 
—

 
(0.4
)
 
—

 
—

 
—

 
(0.4
)
Ending Balance
$
2.0

 
$
—

 
$
84.5

 
$
—

 
$
80.9

 
$
167.4

 
$
2.0

 
$
986.2

 
$
83.0

 
$
—

 
$
80.9

 
$
1,152.1

Accumulated Goodwill Impairment Loss
$
—

 
$
(1,000.0
)
 
$
—

 
$
(27.8
)
 
$
—

 
$
(1,027.8
)
 
$
—

 
$
—

 
$
—

 
$
(27.8
)
 
$
—

 
$
(27.8
)
Schedule Of Finite-Lived Intangible Assets By Major Class
Following is a summary of intangible assets and liabilities as of December 31, 2012 and December 31, 2011:
 
 
 
(In Millions)
 
 
 
December 31, 2012
 
December 31, 2011
 
Classification
 
Gross
Carrying
Amount
 
Accumulated
Amortization
 
Net
Carrying
Amount
 
Gross
Carrying
Amount
 
Accumulated
Amortization
 
Net
Carrying
Amount
Definite-lived intangible assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
Permits
Intangible assets, net
 
$
136.1

 
$
(31.7
)
 
$
104.4

 
$
134.3

 
$
(23.2
)
 
$
111.1

Utility contracts
Intangible assets, net
 
54.7

 
(32.4
)
 
22.3

 
54.7

 
(21.3
)
 
33.4

Leases
Intangible assets, net
 
5.7

 
(3.4
)
 
2.3

 
5.5

 
(3.0
)
 
2.5

Total intangible assets
 
 
$
196.5

 
$
(67.5
)
 
$
129.0

 
$
194.5

 
$
(47.5
)
 
$
147.0

Below-market sales contracts
Other current liabilities
 
$
(46.0
)
 
$
—

 
$
(46.0
)
 
$
(77.0
)
 
$
24.3

 
$
(52.7
)
Below-market sales contracts
Other liabilities
 
(250.7
)
 
181.6

 
(69.1
)
 
(252.3
)
 
140.5

 
(111.8
)
Total below-market sales contracts
 
 
$
(296.7
)
 
$
181.6

 
$
(115.1
)
 
$
(329.3
)
 
$
164.8

 
$
(164.5
)
Estimated Amortization Expense Relating To Intangible Assets
The estimated amortization expense relating to intangible assets for each of the five succeeding years is as follows:
(In Millions)

Amount
Year Ending December 31

2013
$
17.9

2014
17.9

2015
6.0

2016
6.0

2017
6.0

Total
$
53.8

Schedule Of Earnings To Be Recognized On Below-Market Sales Contract
The following amounts are estimated to be recognized in Product revenues for each of the five succeeding fiscal years:
 
(In Millions)
 
Amount
Year Ending December 31
 
2013
$
46.0

2014
23.1

2015
23.0

2016
23.0

2017
—

Total
$
115.1