Quarterly report pursuant to Section 13 or 15(d)

SEGMENT REPORTING (Tables)

v3.19.1
SEGMENT REPORTING (Tables)
 3 Months Ended
Mar. 31, 2019
Segment Reporting [Abstract]  
Schedule Of Segment Reporting Information, By Segment
The following tables present a summary of our reportable segments including a reconciliation of segment sales margin to Income (loss) from Continuing Operations Before Income Taxes and a reconciliation of Net loss to EBITDA and Adjusted EBITDA:
 
(In Millions)
 
Three Months Ended
March 31,
 
2019
 
2018
Revenues from product sales and services:
 
 
 
Mining and Pelletizing
$
157.0

 
$
180.0

 
 
 
 
Sales margin:
 
 
 
Mining and Pelletizing
$
30.9

 
$
61.5

Other operating expense
(31.7
)
 
(31.2
)
Other expense
(25.0
)
 
(28.0
)
Income (loss) from continuing operations before income taxes
$
(25.8
)
 
$
2.3

 
(In Millions)
 
Three Months Ended
March 31,
 
2019
 
2018
Net loss
$
(22.1
)
 
$
(84.3
)
Less:
 
 
 
Interest expense, net
(25.1
)
 
(33.5
)
Income tax benefit (expense)
3.7

 
(15.7
)
Depreciation, depletion and amortization
(19.9
)
 
(23.9
)
EBITDA
$
19.2

 
$
(11.2
)
Less:
 
 
 
Foreign exchange remeasurement
$
0.1

 
$
(0.4
)
Impact of discontinued operations
—

 
(63.1
)
Loss on extinguishment of debt
(0.3
)
 
—

Severance costs
(1.7
)
 
—

Adjusted EBITDA
$
21.1

 
$
52.3

 
 
 
 
EBITDA:
 
 
 
Mining and Pelletizing
$
42.8

 
$
72.5

Metallics
(0.8
)
 
(0.3
)
Corporate and Other (including discontinued operations)
(22.8
)
 
(83.4
)
Total EBITDA
$
19.2

 
$
(11.2
)
 
 
 
 
Adjusted EBITDA:
 
 
 
Mining and Pelletizing
$
47.5

 
$
77.1

Metallics
(0.8
)
 
(0.3
)
Corporate
(25.6
)
 
(24.5
)
Total Adjusted EBITDA
$
21.1

 
$
52.3

The following table summarizes our depreciation, depletion and amortization expense and capital additions:
 
(In Millions)
 
Three Months Ended
March 31,
 
2019
 
2018
Depreciation, depletion and amortization:
 
 
 
Mining and Pelletizing
$
18.5

 
$
15.8

Corporate
1.4

 
1.4

Total depreciation, depletion and amortization
$
19.9

 
$
17.2

 
 
 
 
Capital additions1:
 
 
 
Mining and Pelletizing
$
46.8

 
$
18.7

Metallics
82.4

 
60.0

Corporate
0.1

 
0.2

Total capital additions
$
129.3

 
$
78.9

 
 
 
 
1 Refer to NOTE 17 - CASH FLOW INFORMATION for additional information.
Reconciliation of Assets from Segment to Consolidated [Table Text Block]
A summary of assets by segment is as follows:
 
(In Millions)
 
March 31,
2019
 
December 31,
2018
Assets:
 
 
 
Mining and Pelletizing
$
1,774.5

 
$
1,694.1

Metallics
350.0

 
265.9

Total segment assets
2,124.5

 
1,960.0

Corporate and Other (including discontinued operations)
1,181.8

 
1,569.6

Total assets
$
3,306.3

 
$
3,529.6