Quarterly report pursuant to Section 13 or 15(d)

RELATED PARTIES (Tables)

v3.7.0.1
RELATED PARTIES (Tables)
6 Months Ended
Jun. 30, 2017
Related Party Transactions [Abstract]  
Summary Of Other Ownership Interests
The following is a summary of the mine ownership of these iron ore mines at June 30, 2017:
Mine
 
Cliffs Natural Resources
 
ArcelorMittal
 
U.S. Steel Corporation
Empire
 
79.0
%
 
21.0
%
 

Tilden
 
85.0
%
 

 
15.0
%
Hibbing
 
23.0
%
 
62.3
%
 
14.7
%
Summary Of Related Party Transactions Table Disclosure
Product revenues from related parties were as follows:
 
(In Millions)
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
2017
 
2016
 
2017
 
2016
Product revenues from related parties
$
227.5

 
$
241.6

 
$
336.9

 
$
345.0

Total product revenues
512.0

 
452.8

 
924.8

 
728.4

Related party product revenue as a percent of total product revenue
44.4
%
 
53.4
%
 
36.4
%
 
47.4
%
Summary of Balance Sheet Presentation [Table Text Block]
The following table presents the classification of related party assets and liabilities in the Statements of Unaudited Condensed Consolidated Financial Position as of June 30, 2017 and December 31, 2016:
 
(In Millions)
 
Balance Sheet
Location
 
June 30, 2017
 
December 31, 2016
Amounts due from related parties
Accounts receivable, net
 
$
18.8

 
$
46.9

Customer supply agreements and provisional pricing agreements
Other current assets
 
68.0

 
26.8

Amounts due to related parties
Other current liabilities
 
15.9

 
8.7