Annual report pursuant to Section 13 and 15(d)

Statements Of Condensed Consolidated Financial Position

v3.3.1.900
Statements Of Condensed Consolidated Financial Position - USD ($)
$ in Millions
Dec. 31, 2015
Dec. 31, 2014
CURRENT ASSETS    
Cash and cash equivalents $ 285.2 $ 271.3
Accounts receivable, net 40.2 122.7
Inventories 329.6 260.1
Supplies and other inventories 110.4 118.6
Income tax receivable 5.7 217.6
Short-term assets of discontinued operations 14.9 326.9
Loans to and accounts receivables from the Canadian Entities 72.9 0.4
Insurance coverage receivable 93.5 0.0
Other current assets 30.3 107.7
TOTAL CURRENT ASSETS 982.7 1,425.3
PROPERTY, PLANT AND EQUIPMENT, NET 1,059.0 1,070.5
OTHER ASSETS    
Deferred income taxes 0.0 175.5
Long-term assets of discontinued operations 0.0 383.0
Other non-current assets 93.8 92.9
TOTAL OTHER ASSETS 93.8 651.4
TOTAL ASSETS 2,135.5 3,147.2
CURRENT LIABILITIES    
Accounts payable 106.3 166.1
Accrued employment costs 53.0 73.8
State and local taxes payable 35.2 40.7
Accrued expenses 85.7 99.4
Accrued royalties 17.3 28.5
Short-term liabilities of discontinued operations 6.9 399.4
Guarantees 96.5 0.0
Insured loss 93.5 0.0
Other current liabilities 87.3 146.6
TOTAL CURRENT LIABILITIES 581.7 954.5
POSTEMPLOYMENT BENEFIT LIABILITIES    
Pensions 209.7 246.0
Other postretirement benefits 11.3 22.3
TOTAL POSTEMPLOYMENT BENEFIT LIABILITIES 221.0 268.3
ENVIRONMENTAL AND MINE CLOSURE OBLIGATIONS 231.2 165.6
LONG-TERM DEBT 2,699.4 2,826.5
LONG-TERM LIABILITIES OF DISCONTINUED OPERATIONS 0.0 427.5
OTHER LIABILITIES 213.8 239.1
TOTAL LIABILITIES $ 3,947.1 $ 4,881.5
COMMITMENTS AND CONTINGENCIES (SEE NOTE 20)
CLIFFS SHAREHOLDERS' DEFICIT    
Preferred Stock - no par value, Class A - 3,000,000 shares authorized, 7 % Series A Mandatory Convertible, Class A, no par value and $1,000 per share liquidation preference (See Note 15), Issued and Outstanding - 731,223 shares (2014 - 731,223) $ 731.3 $ 731.3
Common Shares - par value $0.125 per share, Authorized - 400,000,000 shares (2014 - 400,000,000 shares); Issued - 159,546,224 shares (2014 - 159,546,224) shares); Outstanding - 153,591,930 shares (2014 - 153,246,754) shares) 19.8 19.8
Capital in excess of par value of shares 2,298.9 2,309.8
Retained deficit (4,748.4) (3,960.7)
Cost of 5,954,294 common shares in treasury (2014 - 6,299,470 shares) (265.0) (285.7)
Accumulated other comprehensive loss (18.0) (245.8)
TOTAL CLIFFS SHAREHOLDERS' DEFICIT (1,981.4) (1,431.3)
NONCONTROLLING INTEREST (DEFICIT) 169.8 (303.0)
TOTAL DEFICIT (1,811.6) (1,734.3)
TOTAL LIABILITIES AND DEFICIT $ 2,135.5 $ 3,147.2