Quarterly report pursuant to Section 13 or 15(d)

PROPERTY, PLANT AND EQUIPMENT (Tables)

v3.20.1
PROPERTY, PLANT AND EQUIPMENT (Tables)
 3 Months Ended
Mar. 31, 2020
Property, Plant and Equipment [Abstract]  
Value Of Each Of The Major Classes Of Consolidated Depreciable Assets Depreciation and depletion is recorded over the following estimated useful lives:
Asset Class
 
Basis
 
Life
Land, land improvements and mineral rights
 
 
 
 
Land and mineral rights
 
Units of production
 
Life of mine
Land improvements
 
Straight line
 
20 to 45 years
Buildings
 
Straight line
 
40 to 45 years
Mining and Pelletizing equipment
 
Straight line/Double declining balance
 
3 to 20 years
Steel and Manufacturing equipment
 
Straight line/Double declining balance
 
3 to 20 years

The following table indicates the carrying value of each of the major classes of our depreciable assets:
 
(In Millions)
 
March 31,
2020
 
December 31,
2019
Land, land improvements and mineral rights
$
652.7

 
$
582.2

Buildings
452.5

 
157.8

Mining and Pelletizing equipment
1,431.8

 
1,413.6

Steel and Manufacturing equipment
2,140.9

 
42.0

Other
123.0

 
101.5

Construction-in-progress
1,011.3

 
730.3

Total property, plant and equipment1
5,812.2

 
3,027.4

Allowance for depreciation and depletion
(1,262.4
)
 
(1,098.4
)
Property, plant and equipment, net
$
4,549.8

 
$
1,929.0


1 Includes right-of-use assets related to finance leases of $84.2 million and $49.0 million as of March 31, 2020 and December 31, 2019, respectively.
[1]
[1]
1 Includes right-of-use assets related to finance leases of $84.2 million and $49.0 million as of March 31, 2020 and December 31, 2019, respectively.