Quarterly report pursuant to Section 13 or 15(d)

ENVIRONMENTAL AND MINE CLOSURE OBLIGATIONS (Tables)

v3.4.0.3
ENVIRONMENTAL AND MINE CLOSURE OBLIGATIONS (Tables)
 3 Months Ended
Mar. 31, 2016
Environmental Remediation Obligations [Abstract]  
Summary Of Mine Closure Obligations
The following is a summary of the obligations as of March 31, 2016 and December 31, 2015:
 
(In Millions)
 
March 31,
2016
 
December 31,
2015
Environmental
$
3.5

 
$
3.6

Mine closure
 
 
 
LTVSMC
24.5

 
24.1

Operating mines:
 
 
 
U.S. Iron Ore
171.4

 
189.9

Asia Pacific Iron Ore
17.5

 
16.4

Total mine closure
213.4

 
230.4

Total environmental and mine closure obligations
216.9

 
234.0

Less current portion
2.6

 
2.8

Long term environmental and mine closure obligations
$
214.3

 
$
231.2

Asset Retirement Obligation Disclosure
The following represents a rollforward of our asset retirement obligation liability related to our active mining locations for the three months ended March 31, 2016 and for the year ended December 31, 2015:
 
(In Millions)
 
March 31,
2016
 
December 31,
2015 (1)
Asset retirement obligation at beginning of period
$
206.3

 
$
142.4

Accretion expense
2.5

 
6.5

Exchange rate changes
0.9

 
(1.1
)
Revision in estimated cash flows
(20.8
)
 
58.5

Asset retirement obligation at end of period
$
188.9

 
$
206.3

(1) Represents a 12-month rollforward of our asset retirement obligation at December 31, 2015.