Cleveland-Cliffs Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Inventories

Inventories

6 Months Ended

Jun. 30, 2011

NOTE 4 – INVENTORIES

The following table presents the detail of our Inventories on the Statements of Unaudited Condensed Consolidated Financial Position as of June 30, 2011 and December 31, 2010:


	(In Millions)
	June 30, 2011						December 31, 2010
Segment	Finished Goods		Work-in Process		Total Inventory		Finished Goods		Work-in Process		Total Inventory
U.S. Iron Ore	$	317.1	$	18.8	$	335.9	$	101.1	$	9.7	$	110.8
Eastern Canadian Iron Ore		147.5		35.3		182.8		43.5		21.2		64.7
North American Coal		5.0		23.0		28.0		16.1		19.8		35.9
Asia Pacific Iron Ore		37.7		14.5		52.2		34.7		20.4		55.1
Other		4.9		1.5		6.4		2.6		0.1		2.7

Total	$	512.2	$	93.1	$	605.3	$	198.0	$	71.2	$	269.2

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

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