Annual report pursuant to Section 13 and 15(d)

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Tables)

v3.3.1.900
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Tables)
12 Months Ended
Dec. 31, 2015
Estimated Useful Lives Of Intangible Assets Subject To Periodic Amortization On Straight Line Basis Table [Text Block]
Other intangible assets are subject to periodic amortization on a straight-line basis over their estimated useful lives as follows:
Intangible Assets
 
Basis
 
Useful Life (years)
Permits - Asia Pacific Iron Ore
 
Units of production
 
Life of mine
Permits - USIO
 
Straight line
 
28
Schedule Of Subsidiaries
The consolidated financial statements include our accounts and the accounts of our wholly owned and majority-owned subsidiaries, including the following operations at December 31, 2015:
Name
 
Location
 
Ownership Interest
 
Operation
 
Status of Operations
Northshore
 
Minnesota
 
100.0%
 
Iron Ore
 
Active
United Taconite
 
Minnesota
 
100.0%
 
Iron Ore
 
Active
Tilden
 
Michigan
 
85.0%
 
Iron Ore
 
Active
Empire
 
Michigan
 
79.0%
 
Iron Ore
 
Active
Koolyanobbing
 
Western Australia
 
100.0%
 
Iron Ore
 
Active
Depreciation Disclosure [Table Text Block]
Depreciation is provided over the following estimated useful lives:
Asset Class
 
Basis
 
Life
Buildings
 
Straight line
 
45 Years
Mining equipment
 
Straight line/Double declining balance
 
3 to 20 Years
Processing equipment
 
Straight line
 
10 to 45 Years
Electric power facilities
 
Straight line
 
10 to 45 years
Land improvements
 
Straight line
 
20 to 45 years
Office and information technology
 
Straight line
 
3 to 15 Years
Schedule of Equity Method Investments
The following table presents the detail of our investments in unconsolidated ventures and where those investments are classified in the Statements of Consolidated Financial Position as of December 31, 2015 and December 31, 2014. Parentheses indicate a net liability.
 
 
 
 
 
 
 
 
(In Millions)
Investment
 
Classification
 
Accounting
Method
 
Ownership Interest
 
December 31,
2015
 
December 31, 2014
Hibbing
 
Other liabilities (1)
 
Equity Method
 
23%
 
$
(2.4
)
 
$
3.1

Other (2)
 
Other non-current assets
 
Equity Method
 
Various
 

 
1.0

 
 
 
 
 
 
 
 
$
(2.4
)
 
$
4.1

                                         
(1)    At December 31, 2014, the classification for Hibbing was Other non-current assets.
(2)    At December 31, 2015, no Other equity method investments remain.
Reimbursements Revenue Disclosure [Table Text Block]
The following table is a summary of reimbursements in our U.S. Iron Ore operations for the years ended December 31, 2015, 2014 and 2013:
 
 
(In Millions)
 
 
Year Ended December 31,
 
 
2015
 
2014
 
2013
Reimbursements for:
 
 
 
 
 
 
Freight
 
$
105.3

 
$
163.0

 
$
177.3

Venture partners’ cost
 
52.0

 
108.0

 
82.2

Total reimbursements
 
$
157.3

 
$
271.0

 
$
259.5