Quarterly report pursuant to Section 13 or 15(d)

RELATED PARTIES (Tables)

v3.20.1
RELATED PARTIES (Tables)
3 Months Ended
Mar. 31, 2020
Related Party Transactions [Abstract]  
Equity Method Investments Investees and equity ownership percentages are presented below:
Investee
 
Segment Reported Within
 
Equity Ownership Percentage
Combined Metals of Chicago, LLC
 
Steel and Manufacturing
 
40.0%
Hibbing Taconite Company
 
Mining and Pelletizing
 
23.0%
Spartan Steel Coating, LLC
 
Steel and Manufacturing
 
48.0%

Hibbing is a co-owned joint venture with companies that are integrated steel producers or their subsidiaries. The following is a summary of the mine ownership of the co-owned iron ore mine at March 31, 2020:
Mine
 
Cleveland-Cliffs Inc.
 
ArcelorMittal USA
 
U.S. Steel
Hibbing
 
23.0%
 
62.3%
 
14.7%

Summary Of Related Party Transactions Table Disclosure
The tables below summarize our material related party transactions:
Revenues from related parties were as follows:
 
 
(In Millions)
 
 
Three Months Ended
March 31,
 
 
2020
 
2019
Revenue from related parties
 
$
10.8

 
$
46.9

Revenues1
 
$
359.1

 
$
157.0

Related party revenues as a percent of Revenues1
 
3.0
%
 
29.9
%
Purchases from related parties
 
$
2.5

 
$


1 Includes Realization of deferred revenue of $34.6 million for the three months ended March 31, 2020.
The following table presents the classification of related party assets and liabilities in the Statements of Unaudited Condensed Consolidated Financial Position:
 
 
(In Millions)
Balance Sheet Location
 
March 31,
2020
 
December 31,
2019
Accounts receivable, net
 
$
18.7

 
$
31.1

Other current assets
 
$
19.0

 
$
44.5

Accounts payable
 
$
(5.3
)
 
$

Other current liabilities
 
$
(0.3
)
 
$
(2.0
)

[1]
[1]
1 Includes Realization of deferred revenue of $34.6 million for the three months ended March 31, 2020.