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)
 6 Months Ended
Jun. 30, 2017
Environmental Remediation Obligations [Abstract]  
Summary Of Mine Closure Obligations
The following is a summary of the obligations as of June 30, 2017 and December 31, 2016:
 
(In Millions)
 
June 30,
2017
 
December 31,
2016
Environmental
$
2.8

 
$
2.8

Mine closure
 
 
 
U.S. Iron Ore1
193.6

 
187.8

Asia Pacific Iron Ore
17.7

 
16.2

Total mine closure
211.3

 
204.0

Total environmental and mine closure obligations
214.1

 
206.8

Less current portion
12.2

 
12.9

Long-term environmental and mine closure obligations
$
201.9

 
$
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 six months ended June 30, 2017 and for the year ended December 31, 2016:
 
(In Millions)
 
June 30,
2017
 
December 31, 2016
Asset retirement obligation at beginning of period
$
204.0

 
$
230.4

Accretion expense
7.1

 
14.0

Remediation payments
(0.8
)
 
(2.2
)
Exchange rate changes
1.0

 
(0.2
)
Revision in estimated cash flows
—

 
(38.0
)
Asset retirement obligation at end of period
$
211.3

 
$
204.0