Cleveland-Cliffs Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Tables)

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2013

Estimated Useful Lives Of Intangible Assets Subject To Periodic Amortization On Straight Line Basis Table [Text Block]

Other intangible assets are subject to periodic amortization on a straight-line basis over their estimated useful lives as follows:



Intangible Assets	Basis	Useful Life (years)
Permits - Asia Pacific Iron Ore	Units of production	Life of mine
Permits - All Other	Straight line	15 - 40
Utility contracts	Straight line	5
Leases - North American Coal	Units of production	Life of mine
Leases - All Other	Straight line	4.5 - 17.5

Schedule Of Subsidiaries

The consolidated financial statements include our accounts and the accounts of our wholly owned and majority-owned subsidiaries, including the following operations at December 31, 2013:



Name	Location	Ownership Interest	Operation
Northshore	Minnesota	100.0%	Iron Ore
United Taconite	Minnesota	100.0%	Iron Ore
Wabush	Newfoundland and Labrador/ Quebec, Canada	100.0%	Iron Ore
Bloom Lake	Quebec, Canada	82.8%	Iron Ore
Tilden	Michigan	85.0%	Iron Ore
Empire	Michigan	79.0%	Iron Ore
Koolyanobbing	Western Australia	100.0%	Iron Ore
Pinnacle	West Virginia	100.0%	Coal
Oak Grove	Alabama	100.0%	Coal
CLCC	West Virginia	100.0%	Coal

Schedule of Equity Method Investments

The following table presents the detail of our investments in unconsolidated ventures and where those investments are classified in the Statements of Consolidated Financial Position as of December 31, 2013 and December 31, 2012. Parentheses indicate a net liability.



				(In Millions)
Investment	Classification	Accounting Method	Ownership Interest	December 31, 2013			December 31, 2012
Amapá	Investments in ventures ²	Equity Method	—	N/A			$	101.9
Cockatoo	Other liabilities¹	Equity Method	—	N/A			(25.3		)
Hibbing	Other liabilities	Equity Method	23%	$	(3.9	)	(2.1		)
Other	Investments in ventures	Equity Method	Various	34.7			33.9
				$	30.8		$	108.4

¹ At December 31, 2012, our ownership interest percentage for Cockatoo was 50 percent.

² At December 31, 2012, our ownership interest percentage for Amapá was 30 percent.

Reimbursements Revenue Disclosure [Table Text Block]



	(In Millions)
	Year Ended December 31,
	2013		2012		2011
Reimbursements for:
Freight	$	177.3	$	142.0	$	128.4
Venture partners’ cost	82.2		108.8		95.9
Total reimbursements	$	259.5	$	250.8	$	224.3

U.S. Iron Ore and Eastern Canadian Iron Ore [Member]

Depreciation Disclosure [Table Text Block]



Asset Class	Basis	Life
Buildings	Straight line	45 Years
Mining equipment	Straight line/Double declining balance	10 to 20 Years
Processing equipment	Straight line	15 to 45 Years
Information technology	Straight line	2 to 7 Years

Asia Pacific Iron Ore [Member]

Depreciation Disclosure [Table Text Block]



Asset Class	Basis	Life
Plant and equipment - non-mining assets	Straight line	5 to 10 Years
Plant and equipment - mining assets	Production output	6 Years
Motor vehicles, furniture & equipment	Straight line	3 to 5 Years

North American Coal [Member]

Depreciation Disclosure [Table Text Block]

Depreciation is provided over the following estimated useful lives:



Asset Class	Basis	Life
Buildings	Straight line	30 Years
Mining equipment	Straight line	2 to 22 Years
Processing equipment	Straight line	2 to 30 Years
Information technology	Straight line	2 to 3 Years