Annual report pursuant to Section 13 and 15(d)

ENVIRONMENTAL AND MINE CLOSURE OBLIGATIONS (Tables)

v3.8.0.1
ENVIRONMENTAL AND MINE CLOSURE OBLIGATIONS (Tables)
 12 Months Ended
Dec. 31, 2017
Environmental Remediation Obligations [Abstract]  
Schedule of Environmental Loss Contingencies and Asset Retirement Obligations [Table Text Block]
The following is a summary of the obligations as of December 31, 2017 and 2016:
 
(In Millions)
 
December 31,
 
2017
 
2016
Environmental
$
2.9

 
$
2.8

Mine closure
 
 
 
U.S. Iron Ore1
168.4

 
187.8

Asia Pacific Iron Ore
28.8

 
16.2

Total mine closure
197.2

 
204.0

Total environmental and mine closure obligations
200.1

 
206.8

Less current portion
3.6

 
12.9

Long-term environmental and mine closure obligations
$
196.5

 
$
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 Obligations
The following represents a roll forward of our asset retirement obligation liability for the years ended December 31, 2017 and 2016:
 
(In Millions)
 
December 31,
 
2017
 
2016
Asset retirement obligation at beginning of year
$
204.0

 
$
230.4

Accretion expense
14.9

 
14.0

Remediation payments
(5.6
)
 
(2.2
)
Exchange rate changes
1.5

 
(0.2
)
Revision in estimated cash flows
(17.6
)
 
(38.0
)
Asset retirement obligation at end of year
$
197.2

 
$
204.0