Annual report pursuant to Section 13 and 15(d)

ENVIRONMENTAL AND MINE CLOSURE OBLIGATIONS (Tables)

v3.3.1.900
ENVIRONMENTAL AND MINE CLOSURE OBLIGATIONS (Tables)
 12 Months Ended
Dec. 31, 2015
Environmental Remediation Obligations [Abstract]  
Summary Of Mine Closure Obligations
The following is a summary of the obligations as of December 31, 2015 and 2014:
 
(In Millions)
 
December 31,
 
2015
 
2014
Environmental
$
3.6

 
$
5.5

Mine closure
 
 
 
LTVSMC
24.1

 
22.9

Operating mines:
 
 
 
U.S. Iron Ore
189.9

 
120.9

Asia Pacific Iron Ore
16.4

 
21.5

Total mine closure
230.4

 
165.3

Total environmental and mine closure obligations
234.0

 
170.8

Less current portion
2.8

 
5.2

Long-term environmental and mine closure obligations
$
231.2

 
$
165.6

Asset Retirement Obligation Disclosure
The following represents a roll forward of our asset retirement obligation liability related to our active mining locations for the years ended December 31, 2015 and 2014:
 
(In Millions)
 
December 31,
 
2015
 
2014
Asset retirement obligation at beginning of period
$
142.4

 
$
177.6

Accretion expense
6.5

 
5.7

Exchange rate changes
(1.1
)
 
(2.4
)
Revision in estimated cash flows
58.5

 
(38.5
)
Asset retirement obligation at end of period
$
206.3

 
$
142.4