Annual report pursuant to Section 13 and 15(d)

Derivative Instruments And Hedging Activities (Tables)

v2.4.0.6
Derivative Instruments And Hedging Activities (Tables)
12 Months Ended
Dec. 31, 2011
Derivative Instruments And Hedging Activities [Abstract]  
Schedule Of Derivative Instruments In Statement Of Financial Position, Fair Value
    (In Millions)  
    Derivative Assets     Derivative Liabilities  
    December 31, 2011     December 31, 2010     December 31, 2011     December 31, 2010  

Derivative Instrument

  Balance Sheet
Location
  Fair
Value
    Balance Sheet
Location
  Fair
Value
    Balance Sheet
Location
  Fair
Value
    Balance Sheet
Location
  Fair
Value
 

Derivatives designated as hedging instruments under ASC 815:

               

Foreign Exchange Contracts

  Derivative assets

(current)

  $ 5.2      Derivative assets
(current)
  $ 2.8      Other current
liabilities
  $ 3.5        $ —     
   

 

 

     

 

 

     

 

 

     

 

 

 

Total derivatives designated as hedging instruments under ASC 815

    $ 5.2        $ 2.8        $ 3.5        $ —     
   

 

 

     

 

 

     

 

 

     

 

 

 

Derivatives not designated as hedging instruments under ASC 815:

               

Foreign Exchange Contracts

  Derivative assets
(current)
  $ 2.8      Derivative assets
(current)
  $ 34.2        $ —          $ —     
  Other non-
current assets
    —        Other non-
current assets
    2.0          —            —     

Customer Supply Agreements

  Derivative assets
(current)
    72.9      Derivative assets
(current)
    45.6          —            —     

Provisional Pricing Arrangements

  Derivative assets
(current)
    1.2          Other current
liabilities
    19.5          —     
  Accounts
receivable
    83.8          —            —         
   

 

 

     

 

 

     

 

 

     

 

 

 

Total derivatives not designated as hedging instruments under ASC 815

    $ 160.7        $ 81.8        $ 19.5        $ —     
   

 

 

     

 

 

     

 

 

     

 

 

 

Total derivatives

    $ 165.9        $ 84.6        $ 23.0        $ —     
   

 

 

     

 

 

     

 

 

     

 

 

 
Schedule Of Derivative Gains (Losses) Recognized In Accumulated Other Comprehensive Income
      (In Millions)  

Derivatives in Cash Flow Hedging Relationships

   Amount of
Gain
Recognized in
OCI on
Derivative
(Effective Portion)
     Location of Gain
Reclassified from
Accumulated OCI
into Income
(Effective Portion)
   Amount of
Gain
Reclassified from
Accumulated

OCI into Income
(Effective Portion)
 
     Year ended
December 31,
          Year ended
December 31,
 
     2011      2010      2009           2011      2010      2009  

Australian Dollar Foreign Exchange Contracts
(hedge designation)

   $ 1.8       $ 1.9       $ —         Product revenue    $ 2.6       $ —         $ —     

Australian Dollar Foreign Exchange Contracts
(prior to de-designation)

     —           —           —         Product revenue      0.7         3.2         15.1   
  

 

 

    

 

 

    

 

 

       

 

 

    

 

 

    

 

 

 

Total

   $ 1.8       $ 1.9       $ —            $ 3.3       $ 3.2       $ 15.1   
  

 

 

    

 

 

    

 

 

       

 

 

    

 

 

    

 

 

 
Derivatives Not Designated As Hedging Instruments Disclosure

(In Millions)

 

Derivative Not Designated as Hedging
Instruments

   Location of Gain/(Loss)
Recognized in Income on
Derivative
   Amount of Gain/(Loss)
Recognized in Income on
Derivative
 
          Year ended December 31,  
          2011      2010      2009  

Foreign Exchange Contracts

   Product Revenues    $ 1.0       $ 11.1       $ 5.4   

Foreign Exchange Contracts

   Other Income (Expense)      101.9         39.8         85.7   

Customer Supply Agreements

   Product Revenues      178.0         120.2         22.2   

Provisional Pricing Arrangements

   Product Revenues      809.1         960.7         (28.2

United Taconite Purchase Provision

   Product Revenues      —           —           106.5   
     

 

 

    

 

 

    

 

 

 

Total

      $ 1,090.0       $ 1,131.8       $ 191.6