Quarterly report pursuant to Section 13 or 15(d)

SEGMENT REPORTING (Tables)

v2.4.1.9
SEGMENT REPORTING (Tables)
 3 Months Ended
Mar. 31, 2015
Segment Reporting [Abstract]  
Schedule Of Segment Reporting Information, By Segment
The following tables present a summary of our reportable segments for the three months ended March 31, 2015 and 2014, including a reconciliation of segment sales margin to Income from Continuing Operations Before Income Taxes and Equity Loss from Ventures and a reconciliation of Net Loss to EBITDA and Adjusted EBITDA:
 
(In Millions)
 
Three Months Ended
March 31,
 
2015
 
2014
Revenues from product sales and services:
 
 
 
 
 
 
 
U.S. Iron Ore
$
311.8

 
70
%
 
$
361.3

 
59
%
Asia Pacific Iron Ore
134.2

 
30
%
 
254.2

 
41
%
Total revenues from product sales and services
$
446.0

 
100
%
 
$
615.5

 
100
%
 
 
 
 
 
 
 
 
Sales margin:
 
 
 
 
 
 
 
U.S. Iron Ore
$
80.0

 
 
 
$
95.0

 
 
Asia Pacific Iron Ore
0.8

 
 
 
66.3

 
 
Eliminations with Discontinued Operations
—

 
 
 
28.7

 
 
Sales margin
80.8

 
 
 
190.0

 
 
Other operating income
(8.9
)
 
 
 
(50.8
)
 
 
Other income (expense)
270.0

 
 
 
(39.6
)
 
 
Income from continuing operations before income taxes and equity loss from ventures
$
341.9

 
 
 
$
99.6

 
 


 
(In Millions)
 
Three Months Ended
March 31,
 
2015
 
2014
Net Loss
$
(761.7
)
 
$
(70.7
)
Less:
 
 
 
Interest expense, net
(44.2
)
 
(42.7
)
Income tax benefit (expense)
(175.0
)
 
21.8

Depreciation, depletion and amortization
(33.0
)
 
(141.1
)
EBITDA
$
(509.5
)
 
$
91.3

Less:
 
 
 
Impact of discontinued operations
$
(924.1
)
 
$
(118.1
)
North American Coal operations impact
(5.5
)
 
18.2

Gain on extinguishment of debt
313.7

 
—

Severance in SG&A
(1.5
)
 
(6.0
)
Foreign exchange remeasurement
13.5

 
(11.4
)
Adjusted EBITDA
$
94.4

 
$
208.6

 
 
 
 
EBITDA:
 
 
 
U.S. Iron Ore
$
101.6

 
$
123.6

Asia Pacific Iron Ore
18.0

 
85.3

Other
(629.1
)
 
(117.6
)
Total EBITDA
$
(509.5
)
 
$
91.3

 
 
 
 
Adjusted EBITDA:
 
 
 
U.S. Iron Ore
$
105.1

 
$
128.7

Asia Pacific Iron Ore
5.7

 
99.1

Other
(16.4
)
 
(19.2
)
Total Adjusted EBITDA
$
94.4

 
$
208.6

 
(In Millions)
 
Three Months Ended
March 31,
 
2015
 
2014
Depreciation, depletion and amortization:
 
 
 
U.S. Iron Ore
$
21.7

 
$
28.7

Asia Pacific Iron Ore
6.3

 
39.1

Other
1.8

 
1.9

Total depreciation, depletion and amortization
$
29.8

 
$
69.7

 
 
 
 
Capital additions1:
 
 
 
U.S. Iron Ore
$
9.5

 
$
14.9

Asia Pacific Iron Ore
3.4

 
3.2

Other
0.4

 
0.9

Total capital additions
$
13.3

 
$
19.0

                                         
1    Includes capital lease additions and non-cash accruals. Refer to NOTE 17 - CASH FLOW INFORMATION.
Summary of Assets by Segment
A summary of assets by segment is as follows:
 
(In Millions)
 
March 31,
2015
 
December 31,
2014
Assets:
 
 
 
U.S. Iron Ore
$
1,550.1

 
$
1,464.9

Asia Pacific Iron Ore
250.6

 
274.6

Other
31.2

 
147.0

Total segment assets
1,831.9

 
1,886.5

Corporate
673.5

 
546.8

Assets of Discontinued Operations
197.2

 
730.7

Total assets
$
2,702.6

 
$
3,164.0