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

Schedule II - Valuation and Qualifying Accounts

12 Months Ended

Dec. 31, 2012



Cliffs Natural Resources Inc. and Subsidiaries
Schedule II – Valuation and Qualifying Accounts
(Dollars in Millions)

			Additions
	Balance at Beginning of Year		Charged to Cost and Expenses		Charged to Other Accounts						Balance at End of Year

Classification							Acquisition		Deductions

Year Ended December 31, 2012:
Deferred Tax Valuation Allowance	$	223.9	$	635.8	$	—	$	—	$	1.3	$	858.4
Accounts Receivable Allowance	$	—	$	8.1	$	—	$	—	$	—	$	8.1
Year Ended December 31, 2011:
Deferred Tax Valuation Allowance	$	172.7	$	49.1	$	2.1	$	—	$	—	$	223.9
Year Ended December 31, 2010:
Deferred Tax Valuation Allowance	$	89.4	$	85.0	$	9.3	$	—	$	11.0	$	172.7