Quarterly report pursuant to Section 13 or 15(d)

ENVIRONMENTAL AND MINE CLOSURE OBLIGATIONS (Tables)

v2.4.0.8
ENVIRONMENTAL AND MINE CLOSURE OBLIGATIONS (Tables)
 9 Months Ended
Sep. 30, 2014
Environmental Remediation Obligations [Abstract]  
Summary Of Mine Closure Obligations
The following is a summary of the obligations as of September 30, 2014 and December 31, 2013:
 
(In Millions)
 
September 30,
2014
 
December 31, 2013
Environmental
$
5.6

 
$
8.4

Mine closure
 
 
 
LTVSMC
22.7

 
22.0

Operating mines:
 
 
 
U.S. Iron Ore
138.5

 
152.2

Eastern Canadian Iron Ore
81.9

 
78.2

Asia Pacific Iron Ore
25.8

 
25.5

North American Coal
36.2

 
34.7

Total mine closure
305.1

 
312.6

Total environmental and mine closure obligations
310.7

 
321.0

Less current portion
5.3

 
11.3

Long term environmental and mine closure obligations
$
305.4

 
$
309.7

Asset Retirement Obligation Disclosure
The following represents a rollforward of our asset retirement obligation liability related to our active mining locations for the nine months ended September 30, 2014 and for the year ended December 31, 2013:
 
(In Millions)
 
September 30,
2014
 
December 31,
2013 (1)
Asset retirement obligation at beginning of period
$
290.6

 
$
231.1

Accretion expense
10.9

 
18.1

Exchange rate changes
(0.7
)
 
(3.4
)
Revision in estimated cash flows
(18.4
)
 
44.8

Asset retirement obligation at end of period
$
282.4

 
$
290.6

                                         
(1) 
Represents a 12-month rollforward of our asset retirement obligation at December 31, 2013.