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

Quarterly report pursuant to Section 13 or 15(d)

Goodwill And Other Intangible Assets And Liabilities (Tables)

Goodwill And Other Intangible Assets And Liabilities (Tables)

3 Months Ended

Mar. 31, 2012

Goodwill And Other Intangible Assets And Liabilities [Abstract]


	(In Millions)
	March 31, 2012												December 31, 2011 (1)
	U.S. Iron Ore		Eastern Canadian Iron Ore		North American Coal		Asia Pacific Iron Ore		Other		Total		U.S. Iron Ore		Eastern Canadian Iron Ore		North American Coal		Asia Pacific Iron Ore		Other		Total
Beginning Balance	$	2.0	$	986.2	$	-	$	83.0	$	80.9	$	1,152.1	$	2.0	$	3.1	$	27.9	$	82.6	$	80.9	$	196.5
Arising in business combinations		-		13.8		-		-		-		13.8		-		983.5		(0.1)		-		-		983.4
Impairment		-		-		-		-		-		-		-		-		(27.8)		-		-		(27.8)
Impact of foreign currency translation		-		-		-		1.0		-		1.0		-		-		-		0.4		-		0.4
Other		-		-		-		-		-		-		-		(0.4)		-		-		-		(0.4)

Ending Balance	$	2.0	$	1,000.0	$	-	$	84.0	$	80.9	$	1,166.9	$	2.0	$	986.2	$	-	$	83.0	$	80.9	$	1,152.1

(1) Represents a 12-Month rollforward of our goodwill by reportable unit at December 31, 2011. Goodwill is not subject to amortization and is tested for impairment annually or when events or circumstances indicate that impairment may have occurred.

Schedule Of Finite-Lived Intangible Assets By Major Class


	Classification	(In Millions)
		March 31, 2012						December 31, 2011
		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Definite lived intangible assets:
Permits	Intangible assets, net	$	135.1	$	(25.2)	$	109.9	$	134.3	$	(23.2)	$	111.1
Utility contracts	Intangible assets, net		54.7		(24.1)		30.6		54.7		(21.3)		33.4
Leases	Intangible assets, net		5.5		(3.0)		2.5		5.5		(3.0)		2.5

Total intangible assets		$	195.3	$	(52.3)	$	143.0	$	194.5	$	(47.5)	$	147.0

Below-market sales contracts	Other current liabilities	$	(46.0)	$	-	$	(46.0)	$	(77.0)	$	24.3	$	(52.7)
Below-market sales contracts	Below-market sales contracts		(247.4)		134.2		(113.2)		(252.3)		140.5		(111.8)

Total below-market sales contracts		$	(293.4)	$	134.2	$	(159.2)	$	(329.3)	$	164.8	$	(164.5)

Estimated Useful Lives Of Intangible Assets Subject To Periodic Amortization On A Straight-Line Basis


Intangible Asset		Useful Life (years)
Permits		15 - 28
Utility contracts		5
Leases		1.5 - 4.5

Estimated Amortization Expense Relating To Intangible Assets


	(In Millions)
	Amount
Year Ending December 31
2012 (remaining nine months)	$	13.5
2013		17.9
2014		17.9
2015		6.0
2016		6.0
2017		6.0

Total	$	67.3

Schedule Of Earnings To Be Recognized On Below-Market Sales Contract


	(In Millions)
	Amount
Year Ending December 31
2012 (remaining nine months)	$	44.1
2013		46.0
2014		23.1
2015		23.0
2016		23.0
2017		-

Total	$	159.2

- Definition

Tabular disclosure of amortizable intangibles assets, in total and by major class, including the gross carrying amount and accumulated amortization. A major class is composed of intangible assets that can be grouped together because they are similar, either by their nature or by their use in the operations of a company.

+ References + Details

- Definition

Tabular disclosure of goodwill by reportable segment and in total. Disclosure details may include, but are not limited to, the carrying amount of goodwill, goodwill acquired during the year, goodwill impairment losses recognized, goodwill written-off due to the sale of a business unit, goodwill not yet allocated, and any other changes to goodwill.

+ References + Details