Quarterly report pursuant to Section 13 or 15(d)

RELATED PARTIES (Tables)

v3.8.0.1
RELATED PARTIES (Tables)
 9 Months Ended
Sep. 30, 2017
Related Party Transactions [Abstract]  
Summary Of Other Ownership Interests
The following is a summary of the mine ownership of the co-owned iron ore mine at September 30, 2017:
Mine
 
Cleveland-Cliffs Inc.
 
ArcelorMittal
 
U.S. Steel
Hibbing
 
23.0
%
 
62.3
%
 
14.7
%
Summary Of Related Party Transactions Table Disclosure
Product revenues from related parties were as follows:
 
(In Millions)
 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
2017
 
2016
 
2017
 
2016
Product revenues from related parties
$
265.5

 
$
223.4

 
$
602.4

 
$
568.4

Total product revenues
$
627.5

 
$
508.6

 
$
1,552.3

 
$
1,237.0

Related party product revenue as a percent of total product revenue
42.3
%
 
43.9
%
 
38.8
%
 
45.9
%
Summary of Balance Sheet Presentation [Table Text Block]
The following table presents the classification of related party assets and liabilities in the Statements of Unaudited Condensed Consolidated Financial Position as of September 30, 2017 and December 31, 2016:
 
(In Millions)
 
Balance Sheet
Location
 
September 30, 2017
 
December 31, 2016
Amounts due from related parties
Accounts receivable, net
 
$
4.5

 
$
46.9

Amounts due from related parties
Other current assets
 
3.4

 
—

Customer supply agreements and provisional pricing agreements
Derivative assets
 
88.5

 
26.8

Amounts due to related parties
Other current liabilities
 
(45.3
)
 
(8.7
)
Amounts due to related parties
Derivative liabilities
 
(5.4
)
 
—

Amounts due to related parties
Other liabilities
 
(44.2
)
 
—

Net amounts due from related parties
 
 
$
1.5

 
$
65.0