Quarterly report pursuant to Section 13 or 15(d)

INVENTORIES

v2.4.0.6
INVENTORIES
3 Months Ended
Mar. 31, 2013
Inventory Disclosure [Abstract]  
Inventories
NOTE 4 - INVENTORIES
The following table presents the detail of our Inventories in the Statements of Unaudited Condensed Consolidated Financial Position as of March 31, 2013 and December 31, 2012:

(In Millions)

March 31, 2013
 
December 31, 2012
Segment
Finished Goods
 
Work-in Process
 
Total Inventory
 
Finished Goods
 
Work-in
Process
 
Total
Inventory
U.S. Iron Ore
$
293.9

 
$
27.2

 
$
321.1

 
$
147.2

 
$
22.9

 
$
170.1

Eastern Canadian Iron Ore
101.0

 
38.4

 
139.4

 
62.6

 
44.2

 
106.8

Asia Pacific Iron Ore
73.5

 
16.4

 
89.9

 
36.7

 
37.2

 
73.9

North American Coal
49.5

 
30.2

 
79.7

 
36.7

 
49.0

 
85.7

Total
$
517.9

 
$
112.2

 
$
630.1

 
$
283.2

 
$
153.3

 
$
436.5


We recorded lower-of-cost-or-market inventory charges of $2.0 million and $1.3 million in Cost of goods sold and operating expenses in the Statements of Unaudited Condensed Consolidated Operations for the three months ended March 31, 2013 and 2012, respectively, for our North American Coal operations. These charges were a result of market declines and operational and geological issues.