Quarterly report pursuant to Section 13 or 15(d)

ENVIRONMENTAL AND MINE CLOSURE OBLIGATIONS (Tables)

v3.7.0.1
ENVIRONMENTAL AND MINE CLOSURE OBLIGATIONS (Tables)
 3 Months Ended
Mar. 31, 2017
Environmental Remediation Obligations [Abstract]  
Summary Of Mine Closure Obligations
The following is a summary of the obligations as of March 31, 2017 and December 31, 2016:
 
(In Millions)
 
March 31,
2017
 
December 31,
2016
Environmental
$
2.8

 
$
2.8

Mine closure
 
 
 
U.S. Iron Ore1
190.9

 
187.8

Asia Pacific Iron Ore
17.3

 
16.2

Total mine closure
208.2

 
204.0

Total environmental and mine closure obligations
211.0

 
206.8

Less current portion
12.8

 
12.9

Long-term environmental and mine closure obligations
$
198.2

 
$
193.9

 
 
 
 
1 U.S. Iron Ore includes our active operating mines, our indefinitely idled Empire mine and a closed mine formerly operating as LTVSMC.
Asset Retirement Obligation Disclosure
The following represents a roll forward of our asset retirement obligation liability for the three months ended March 31, 2017 and for the year ended December 31, 2016:
 
(In Millions)
 
March 31,
2017
 
December 31, 2016
Asset retirement obligation at beginning of period
$
204.0

 
$
230.4

Accretion expense
3.6

 
14.0

Remediation payments
(0.3
)
 
(2.2
)
Exchange rate changes
0.9

 
(0.2
)
Revision in estimated cash flows
—

 
(38.0
)
Asset retirement obligation at end of period
$
208.2

 
$
204.0