Quarterly report pursuant to Section 13 or 15(d)

RELATED PARTIES (Tables)

v3.19.3
RELATED PARTIES (Tables)
 9 Months Ended
Sep. 30, 2019
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, 2019:
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,
 
2019
 
2018
 
2019
 
2018
Product revenues from related parties
$
262.0

 
$
392.4

 
$
718.9

 
$
863.8

Total product revenues
$
515.0

 
$
684.7

 
$
1,357.8

 
$
1,525.9

Related party product revenue as a percent of total product revenue
50.9
%
 
57.3
%
 
52.9
%
 
56.6
%

Summary of Balance Sheet Presentation
The following table presents the classification of related party assets and liabilities in the Statements of Unaudited Condensed Consolidated Financial Position:
 
 
(In Millions)
Balance Sheet Location
 
September 30, 2019
 
December 31, 2018
Accounts receivable, net
 
$
108.7

 
$
176.0

Derivative assets
 
71.2

 
89.3

Other current assets
 
0.2

 
—

Derivative liabilities
 
(26.1
)
 
—

Partnership distribution payable
 
—

 
(43.5
)
Other current liabilities
 
(1.4
)
 
(1.8
)
 
 
$
152.6

 
$
220.0