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

Quarterly report pursuant to Section 13 or 15(d)

Environmental And Mine Closure Obligations (Tables)

Environmental And Mine Closure Obligations (Tables)

6 Months Ended

Jun. 30, 2012


	(In Millions)
	June 30, 2012		December 31, 2011
Environmental	$	14.5	$	15.5
Mine closure
LTVSMC		16.9		16.5
Operating mines:
U.S Iron Ore		77.9		74.3
Eastern Canadian Iron Ore		71.5		68.0
North American Coal		37.5		36.3
Asia Pacific Iron Ore		16.8		16.3
Other		9.0		8.8

Total mine closure		229.6		220.2

Total environmental and mine closure obligations		244.1		235.7
Less current portion		12.7		13.7

Long term environmental and mine closure obligations	$	231.4	$	222.0

Asset Retirement Obligation Disclosure


	(In Millions)
	June 30, 2012		December 31, 2011(1)
Asset retirement obligation at beginning of period	$	203.7	$	168.3
Accretion expense		8.9		16.1
Exchange rate changes		0.1		0.1
Revision in estimated cash flows		-		5.9
Payments		-		(0.7	)
Acquired through business combinations		-		14.0

Asset retirement obligation at end of period	$	212.7	$	203.7

(1)	Represents a 12-month rollforward of our asset retirement obligation at December 31, 2011.

- Definition

The entire disclosure for an asset retirement obligation and the associated long-lived asset. An asset retirement obligation is a legal obligation associated with the disposal or retirement from service of a tangible long-lived asset that results from the acquisition, construction or development, or the normal operations of a long-lived asset, except for certain obligations of lessees.

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- Definition

Tabular disclosure of environmental loss contingencies by individual site. Does not include loss contingencies that are not environmental in nature.

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