Cleveland-Cliffs Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

GOODWILL AND OTHER INTANGIBLE ASSETS AND LIABILITIES (Tables)

GOODWILL AND OTHER INTANGIBLE ASSETS AND LIABILITIES (Tables)

3 Months Ended

Mar. 31, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

The following table summarizes changes in the carrying amount of goodwill allocated by operating segment for the three months ended March 31, 2015 and the year ended December 31, 2014:



	(In Millions)
	March 31, 2015								December 31, 2014
	U.S. Iron Ore		Asia Pacific Iron Ore			Total			U.S. Iron Ore		Asia Pacific Iron Ore			Total
Beginning Balance	$	2.0	$	—		$	2.0		$	2.0	$	72.5		$	74.5
Arising in business combinations	—		—			—			—		—			—
Impairment	—		—			—			—		(73.5		)	(73.5		)
Impact of foreign currency translation	—		—			—			—		1.0			1.0
Ending Balance	$	2.0	$	—		$	2.0		$	2.0	$	—		$	2.0
Accumulated goodwill impairment loss	$	—	$	(73.5	)	$	(73.5	)	$	—	$	(73.5	)	$	(73.5	)

Schedule Of Finite-Lived Intangible Assets By Major Class

The following table is a summary of intangible assets and liabilities as of March 31, 2015 and December 31, 2014:



		(In Millions)
		March 31, 2015									December 31, 2014
	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	$	78.7		$	(17.5	)	$	61.2		$	79.2		$	(16.5	)	$	62.7
Total intangible assets		$	78.7		$	(17.5	)	$	61.2		$	79.2		$	(16.5	)	$	62.7
Below-market sales contracts	Other current liabilities	$	(23.0	)	$	—		$	(23.0	)	$	(23.0	)	$	—		$	(23.0	)
Below-market sales contracts	Other liabilities	(205.9		)	182.8			(23.1		)	(205.9		)	182.8			(23.1		)
Total below-market sales contracts		$	(228.9	)	$	182.8		$	(46.1	)	$	(228.9	)	$	182.8		$	(46.1	)

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,
2015 (remaining nine months)	$	3.0
2016	4.0
2017	4.0
2018	4.2
2019	3.1
2020	2.5
Total	$	20.8

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 the succeeding fiscal year:



	(In Millions)
	Amount
Year Ending December 31,
2015 (remaining nine months)	$	23.0
2016	23.1
Total	$	46.1