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, 2014

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, 2014:



Name	Location	Ownership Interest	Operation	Status of Operations
Northshore	Minnesota	100.0%	Iron Ore	Active
United Taconite	Minnesota	100.0%	Iron Ore	Active
Tilden	Michigan	85.0%	Iron Ore	Active
Empire	Michigan	79.0%	Iron Ore	Active
Koolyanobbing	Western Australia	100.0%	Iron Ore	Active
Pinnacle	West Virginia	100.0%	Coal	Active
Oak Grove	Alabama	100.0%	Coal	Active
CLCC	West Virginia	100.0%	Coal	Assets sold as of December 31, 2014
Wabush	Newfoundland and Labrador/ Québec, Canada	100.0%	Iron Ore	Permanent closure
Bloom Lake	Québec, Canada	82.8%	Iron Ore	Care-and-maintenance
Cliffs Chromite Ontario - Black Label Deposit	Ontario, Canada	100.0%	Chromite	Suspended
Cliffs Chromite Ontario - Black Thor Deposit	Ontario, Canada	100.0%	Chromite	Suspended
Cliffs Chromite Ontario & Cliffs Chromite Far North - Big Daddy Deposit	Ontario, Canada	70.0%	Chromite	Suspended

Depreciation Disclosure [Table Text Block]

Depreciation is provided over the following estimated useful lives:



Asset Class	Basis	Life
Buildings	Straight line	45 Years
Mining equipment	Straight line/Double declining balance	3 to 20 Years
Processing equipment	Straight line	10 to 45 Years
Electric power facilities	Straight line	10 to 45 years
Land improvements	Straight line	20 to 45 years
Office and information technology	Straight line	3 to 15 Years

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, 2014 and December 31, 2013. Parentheses indicate a net liability.



				(In Millions)
Investment	Classification	Accounting Method	Ownership Interest	December 31, 2014		December 31, 2013
Hibbing	Other non-current assets ¹	Equity Method	23%	$	3.1	(3.9		)
Other	Other non-current assets	Equity Method	Various	3.9		34.7
				$	7.0	$	30.8

¹At December 31, 2013, the classification for Hibbing was Other liabilities.

Reimbursements Revenue Disclosure [Table Text Block]

The following table is a summary of reimbursements in our U.S. Iron Ore operations for the years ended December 31, 2014, 2013 and 2012:



	(In Millions)
	Year Ended December 31,
	2014		2013		2012
Reimbursements for:
Freight	$	163.0	$	177.3	$	142.0
Venture partners’ cost	108.0		82.2		108.8
Total reimbursements	$	271.0	$	259.5	$	250.8