Cleveland-Cliffs Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT

9 Months Ended

Sep. 30, 2012

Property, Plant and Equipment [Abstract]

NOTE 5 - PROPERTY, PLANT AND EQUIPMENT

The following table indicates the value of each of the major classes of our consolidated depreciable assets as of September 30, 2012 and December 31, 2011:



	(In Millions)
	September 30, 2012			December 31, 2011
Land rights and mineral rights	$	7,952.1		$	7,868.7
Office and information technology	83.3			66.8
Buildings	143.0			132.2
Mining equipment	1,318.9			1,323.8
Processing equipment	1,839.4			1,311.6
Railroad equipment	224.3			161.6
Electric power facilities	58.8			57.9
Port facilities	112.1			64.1
Interest capitalized during construction	32.2			22.5
Land improvements	43.3			30.4
Other	31.9			43.2
Construction in progress	844.4			612.8
	12,683.7			11,695.6
Allowance for depreciation and depletion	(1,653.0		)	(1,291.5		)
	$	11,030.7		$	10,404.1

We recorded depreciation and depletion expense of $127.7 million and $364.9 million in the Statements of Unaudited Condensed Consolidated Operations for the three and nine months ended September 30, 2012, respectively. This compares with depreciation and depletion expense of $109.6 million and $279.7 million for the three and nine months ended September 30, 2011.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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