Annual report pursuant to Section 13 and 15(d)

Statements Of Condensed Consolidated Financial Position

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Statements Of Condensed Consolidated Financial Position (USD $)
In Millions, unless otherwise specified
Dec. 31, 2012
Dec. 31, 2011
CURRENT ASSETS    
Cash and cash equivalents $ 195.2 $ 519.3
Accounts receivable, net 329.0 287.9
Inventories 436.5 456.9
Supplies and other inventories 289.1 216.9
Deferred and refundable income taxes 105.4 21.9
Derivative assets 78.6 82.1
Assets held for sale 0 159.9
Other current assets 216.2 166.3
TOTAL CURRENT ASSETS 1,650.0 1,911.2
PROPERTY, PLANT AND EQUIPMENT, NET 11,207.3 10,404.1
OTHER ASSETS    
Investments in ventures 135.8 526.6
Goodwill 167.4 1,152.1
Intangible assets, net 129.0 147.0
Deferred income taxes 91.8 209.5
Other non-current assets 193.6 191.2
TOTAL OTHER ASSETS 717.6 2,226.4
TOTAL ASSETS 13,574.9 14,541.7
CURRENT LIABILITIES    
Accounts payable 555.5 364.7
Accrued employment costs 135.6 144.1
Income taxes payable 28.3 265.4
Current portion of debt 94.1 74.8
Accrued expenses 258.9 165.0
Accrued royalties 48.1 75.7
Deferred revenue 35.9 126.6
Liabilities held for sale 0 25.9
Other current liabilities 225.1 259.9
TOTAL CURRENT LIABILITIES 1,381.5 1,502.1
POSTEMPLOYMENT BENEFIT LIABILITIES    
Pensions 403.8 394.7
Other postretirement benefits 214.5 271.1
TOTAL POSTEMPLOYMENT BENEFIT LIABILITIES 618.3 665.8
ENVIRONMENTAL AND MINE CLOSURE OBLIGATIONS 252.8 213.2
DEFERRED INCOME TAXES 1,108.1 1,062.4
LONG-TERM DEBT 3,960.7 3,608.7
OTHER LIABILITIES 492.6 449.8
TOTAL LIABILITIES 7,814.0 7,502.0
COMMITMENTS AND CONTINGENCIES (SEE NOTE 20)      
CLIFFS SHAREHOLDERS' EQUITY    
Common Shares - par value $0.125 per share, Authorized - 400,000,000 shares (2011 - 400,000,000 shares); Issued - 149,195,469 shares (2011 - 149,195,469 shares); Outstanding - 142,495,902 shares (2011 - 142,021,718 shares) 18.5 18.5
Capital in excess of par value of shares 1,774.7 1,770.8
Retained earnings 3,217.7 4,424.3
Cost of 6,699,567 common shares in treasury (2011 - 7,173,751 shares) (322.6) (336.0)
Accumulated other comprehensive loss (55.6) (92.6)
TOTAL CLIFFS SHAREHOLDERS' EQUITY 4,632.7 5,785.0
NONCONTROLLING INTEREST 1,128.2 1,254.7
TOTAL EQUITY 5,760.9 7,039.7
TOTAL LIABILITIES AND EQUITY $ 13,574.9 $ 14,541.7