Quarterly report pursuant to Section 13 or 15(d)

GOODWILL AND OTHER INTANGIBLE ASSETS AND LIABILITIES (Tables)

v2.4.0.8
GOODWILL AND OTHER INTANGIBLE ASSETS AND LIABILITIES (Tables)
 9 Months Ended
Sep. 30, 2014
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule Of Goodwill
The following table summarizes changes in the carrying amount of goodwill allocated by operating segment for the nine months ended September 30, 2014 and the year ended December 31, 2013:
 
(In Millions)
 
September 30, 2014
 
December 31, 2013
 
U.S. Iron Ore
 
Eastern Canadian Iron Ore
 
Asia Pacific
Iron Ore
 
North American Coal
 
Other
 
Total
 
U.S. Iron Ore
 
Eastern
Canadian Iron Ore
 
Asia Pacific Iron Ore
 
North American Coal
 
Other
 
Total
Beginning Balance
$
2.0

 
$
—

 
$
72.5

 
$
—

 
$
—

 
$
74.5

 
$
2.0

 
$
—

 
$
84.5

 
$
—

 
$
80.9

 
$
167.4

Arising in business combinations
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Impairment
—

 
—

 
(73.5
)
 
—

 
—

 
(73.5
)
 
—

 
—

 
—

 
—

 
(80.9
)
 
(80.9
)
Impact of foreign currency translation
—

 
—

 
1.0

 
—

 
—

 
1.0

 
—

 
—

 
(12.0
)
 
—

 
—

 
(12.0
)
Ending Balance
$
2.0

 
$
—

 
$
—

 
$
—

 
$
—

 
$
2.0

 
$
2.0

 
$
—

 
$
72.5

 
$
—

 
$
—

 
$
74.5

Accumulated goodwill impairment loss
$
—

 
$
(1,000.0
)
 
(73.5
)
 
$
(27.8
)
 
$
(80.9
)
 
$
(1,182.2
)
 
$
—

 
$
(1,000.0
)
 
$
—

 
$
(27.8
)
 
$
(80.9
)
 
$
(1,108.7
)
Schedule Of Finite-Lived Intangible Assets By Major Class
The following table is a summary of intangible assets and liabilities as of September 30, 2014 and December 31, 2013:
 
 
 
(In Millions)
 
 
 
September 30, 2014
 
December 31, 2013
 
Classification
 
Gross
Carrying
Amount
 
Accumulated
Amortization
 
Net
Carrying
Amount
 
Gross
Carrying
Amount
 
Accumulated
Amortization
 
Net
Carrying
Amount
Definite-lived intangible assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
Permits
Other non-current assets
 
$
91.6

 
$
(16.8
)
 
$
74.8

 
$
127.4

 
$
(35.9
)
 
$
91.5

Utility contracts
Other non-current assets
 
54.3

 
(53.9
)
 
0.4

 
54.7

 
(53.1
)
 
1.6

Leases
Other non-current assets
 
2.4

 
(0.2
)
 
2.2

 
2.4

 
(0.1
)
 
2.3

Total intangible assets
 
 
$
148.3

 
$
(70.9
)
 
$
77.4

 
$
184.5

 
$
(89.1
)
 
$
95.4

Below-market sales contracts
Other current liabilities
 
$
(23.0
)
 
$
—

 
$
(23.0
)
 
$
(23.0
)
 
$
—

 
$
(23.0
)
Below-market sales contracts
Other liabilities
 
(205.9
)
 
175.0

 
(30.9
)
 
(205.9
)
 
159.7

 
(46.2
)
Total below-market sales contracts
 
 
$
(228.9
)
 
$
175.0

 
$
(53.9
)
 
$
(228.9
)
 
$
159.7

 
$
(69.2
)
Estimated Amortization Expense Relating To Intangible Assets
The estimated amortization expense relating to intangible assets for the remainder of this year and each of the five succeeding years is as follows:
(In Millions)

Amount
Year Ending December 31,

2014 (remaining three months)
$
1.4

2015
5.6

2016
5.3

2017
5.1

2018
5.3

2019
5.3

Total
$
28.0

Schedule Of Earnings To Be Recognized On Below-Market Sales Contract
The following amounts are estimated to be recognized in Product revenues for the remainder of this year and each of the two succeeding fiscal years:
 
(In Millions)
 
Amount
Year Ending December 31,
 
2014 (remaining three months)
$
7.8

2015
23.0

2016
23.1

Total
$
53.9