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ET
0.934 g
97.89 774.09 339.36 -12.24 re
f
BT
/F6 1 Tf
10.079 0 0 10.079 97.89 764.25 Tm
0 g
(Freight and minority interest)Tj
ET
0.934 g
437.49 774.09 9.84 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 437.49 763.77 Tm
0 g
( )Tj
ET
0.934 g
447.57 774.09 5.04 -12.24 re
f
BT
10.079 0 0 10.079 450.21 763.77 Tm
0 g
( )Tj
ET
0.934 g
452.85 774.09 27.6 -12.24 re
f
BT
/F6 1 Tf
10.079 0 0 10.079 467.97 764.25 Tm
0 g
(7.1)Tj
ET
0.934 g
480.69 774.09 9.84 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 480.69 763.77 Tm
0 g
( )Tj
ET
0.934 g
490.77 774.09 9.84 -12.24 re
f
BT
10.079 0 0 10.079 490.77 763.77 Tm
0 g
( )Tj
ET
0.934 g
500.85 774.09 5.28 -12.24 re
f
BT
10.079 0 0 10.079 503.73 763.77 Tm
0 g
( )Tj
ET
0.934 g
506.37 774.09 27.6 -12.24 re
f
BT
/F6 1 Tf
10.079 0 0 10.079 526.53 764.25 Tm
0 g
(.6)Tj
ET
0.934 g
534.21 774.09 10.08 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 534.21 763.77 Tm
0 g
( )Tj
-46.2901 -1.1192 TD
( )Tj
36.694 0 TD
0.7501 Tc
(  )Tj
ET
0.5 g
452.85 756.33 27.6 -0.48 re
f
BT
10.079 0 0 10.079 480.69 752.4901 Tm
0 g
(   )Tj
ET
0.5 g
506.37 756.33 27.6 -0.48 re
f
BT
10.079 0 0 10.079 534.21 752.4901 Tm
0 g
0 Tc
( )Tj
-46.2901 -1.2382 TD
0.7501 Tc
(    )Tj
/F6 1 Tf
4.0004 0.0476 TD
0 Tc
(Total Product Sales and Services)Tj
/F12 1 Tf
32.6936 -0.0476 TD
1.012 Tc
(  )Tj
/F6 1 Tf
2.5241 0.0476 TD
0 Tc
(55.0)Tj
/F12 1 Tf
1.7621 -0.0476 TD
0.7501 Tc
[(  )-285.7( )]TJ
/F6 1 Tf
3.548 0.0476 TD
0 Tc
(20.9)Tj
/F12 1 Tf
1.7621 -0.0476 TD
( )Tj
ET
0.934 g
67.65 737.85 9.84 -12.24 re
f
BT
10.079 0 0 10.079 67.65 727.53 Tm
0 g
( )Tj
ET
0.934 g
77.73 737.85 359.52 -12.24 re
f
BT
/F6 1 Tf
10.079 0 0 10.079 77.73 728.0101 Tm
0 g
(Royalties and management fees)Tj
ET
0.934 g
437.49 737.85 9.84 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 437.49 727.53 Tm
0 g
( )Tj
ET
0.934 g
447.57 737.85 5.04 -12.24 re
f
BT
10.079 0 0 10.079 450.21 727.53 Tm
0 g
( )Tj
ET
0.934 g
452.85 737.85 27.6 -12.24 re
f
BT
/F6 1 Tf
10.079 0 0 10.079 467.97 728.0101 Tm
0 g
(1.3)Tj
ET
0.934 g
480.69 737.85 9.84 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 480.69 727.53 Tm
0 g
( )Tj
ET
0.934 g
490.77 737.85 9.84 -12.24 re
f
BT
10.079 0 0 10.079 490.77 727.53 Tm
0 g
( )Tj
ET
0.934 g
500.85 737.85 5.28 -12.24 re
f
BT
10.079 0 0 10.079 503.73 727.53 Tm
0 g
( )Tj
ET
0.934 g
506.37 737.85 27.6 -12.24 re
f
BT
/F6 1 Tf
10.079 0 0 10.079 521.4899 728.0101 Tm
0 g
(7.9)Tj
ET
0.934 g
534.21 737.85 10.08 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 534.21 727.53 Tm
0 g
( )Tj
-46.2901 -1.1192 TD
( )Tj
36.694 0 TD
0.7501 Tc
(  )Tj
ET
0.5 g
452.85 720.09 27.6 -0.48 re
f
BT
10.079 0 0 10.079 480.69 716.2501 Tm
0 g
(   )Tj
ET
0.5 g
506.37 720.09 27.6 -0.48 re
f
BT
10.079 0 0 10.079 534.21 716.2501 Tm
0 g
0 Tc
( )Tj
-46.2901 -1.2382 TD
0.7501 Tc
(   )Tj
/F6 1 Tf
3.0003 0.0476 TD
0 Tc
(Total Operating Revenues)Tj
/F12 1 Tf
33.6937 -0.0476 TD
1.012 Tc
(  )Tj
/F6 1 Tf
2.5241 0.0476 TD
0 Tc
(56.3)Tj
/F12 1 Tf
1.7621 -0.0476 TD
0.7501 Tc
[(  )-285.7( )]TJ
/F6 1 Tf
3.548 0.0476 TD
0 Tc
(28.8)Tj
/F12 1 Tf
1.7621 -0.0476 TD
( )Tj
ET
0.934 g
67.65 701.61 9.84 -12.24 re
f
BT
10.079 0 0 10.079 67.65 691.29 Tm
0 g
( )Tj
ET
0.934 g
77.73 701.61 359.52 -12.24 re
f
BT
/F6 1 Tf
10.079 0 0 10.079 77.73 691.7701 Tm
0 g
(Interest income)Tj
ET
0.934 g
437.49 701.61 9.84 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 437.49 691.29 Tm
0 g
( )Tj
ET
0.934 g
447.57 701.61 5.04 -12.24 re
f
BT
10.079 0 0 10.079 450.21 691.29 Tm
0 g
( )Tj
ET
0.934 g
452.85 701.61 27.6 -12.24 re
f
BT
/F6 1 Tf
10.079 0 0 10.079 467.97 691.7701 Tm
0 g
(1.1)Tj
ET
0.934 g
480.69 701.61 9.84 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 480.69 691.29 Tm
0 g
( )Tj
ET
0.934 g
490.77 701.61 9.84 -12.24 re
f
BT
10.079 0 0 10.079 490.77 691.29 Tm
0 g
( )Tj
ET
0.934 g
500.85 701.61 5.28 -12.24 re
f
BT
10.079 0 0 10.079 503.73 691.29 Tm
0 g
( )Tj
ET
0.934 g
506.37 701.61 27.6 -12.24 re
f
BT
/F6 1 Tf
10.079 0 0 10.079 521.4899 691.7701 Tm
0 g
(1.1)Tj
ET
0.934 g
534.21 701.61 10.08 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 534.21 691.29 Tm
0 g
( )Tj
-46.2901 -1.2382 TD
( )Tj
/F6 1 Tf
1.0001 0.0476 TD
(Other income)Tj
/F12 1 Tf
35.6939 -0.0476 TD
1.012 Tc
(  )Tj
/F6 1 Tf
3.0241 0.0476 TD
0 Tc
(3.3)Tj
/F12 1 Tf
1.262 -0.0476 TD
0.7501 Tc
[(  )-285.7( )]TJ
/F6 1 Tf
4.048 0.0476 TD
0 Tc
(2.4)Tj
/F12 1 Tf
1.262 -0.0476 TD
( )Tj
-46.2901 -1.1192 TD
( )Tj
36.694 0 TD
0.7501 Tc
(  )Tj
ET
0.5 g
452.85 671.37 27.6 -0.48 re
f
BT
10.079 0 0 10.079 480.69 667.53 Tm
0 g
(   )Tj
ET
0.5 g
506.37 671.37 27.6 -0.48 re
f
BT
10.079 0 0 10.079 534.21 667.53 Tm
0 g
0 Tc
( )Tj
ET
0.934 g
67.65 665.37 9.84 -12.24 re
f
BT
10.079 0 0 10.079 67.65 655.05 Tm
0 g
( )Tj
ET
0.934 g
77.73 665.37 9.84 -12.24 re
f
BT
10.079 0 0 10.079 77.73 655.05 Tm
0 g
( )Tj
ET
0.934 g
87.81 665.37 9.84 -12.24 re
f
BT
10.079 0 0 10.079 87.81 655.05 Tm
0 g
( )Tj
ET
0.934 g
97.89 665.37 339.36 -12.24 re
f
BT
/F6 1 Tf
10.079 0 0 10.079 97.89 655.53 Tm
0 g
(Total Revenues)Tj
ET
0.934 g
437.49 665.37 9.84 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 437.49 655.05 Tm
0 g
( )Tj
ET
0.934 g
447.57 665.37 5.04 -12.24 re
f
BT
10.079 0 0 10.079 450.21 655.05 Tm
0 g
( )Tj
ET
0.934 g
452.85 665.37 27.6 -12.24 re
f
BT
/F6 1 Tf
10.079 0 0 10.079 462.93 655.53 Tm
0 g
(60.7)Tj
ET
0.934 g
480.69 665.37 9.84 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 480.69 655.05 Tm
0 g
( )Tj
ET
0.934 g
490.77 665.37 9.84 -12.24 re
f
BT
10.079 0 0 10.079 490.77 655.05 Tm
0 g
( )Tj
ET
0.934 g
500.85 665.37 5.28 -12.24 re
f
BT
10.079 0 0 10.079 503.73 655.05 Tm
0 g
( )Tj
ET
0.934 g
506.37 665.37 27.6 -12.24 re
f
BT
/F6 1 Tf
10.079 0 0 10.079 516.45 655.53 Tm
0 g
(32.3)Tj
ET
0.934 g
534.21 665.37 10.08 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 534.21 655.05 Tm
0 g
( )Tj
/F6 1 Tf
-46.2901 -1.1906 TD
-0.0001 Tc
0.0001 Tw
(COSTS AND EXPENSES)Tj
/F12 1 Tf
36.694 -0.0476 TD
0.7501 Tc
0 Tw
[(  )476.2( )-1762.1(   )452.4( )-1762.1( )]TJ
ET
0.934 g
67.65 640.41 9.84 -12.24 re
f
BT
10.079 0 0 10.079 67.65 630.0901 Tm
0 g
0 Tc
( )Tj
ET
0.934 g
77.73 640.41 359.52 -12.24 re
f
BT
/F6 1 Tf
10.079 0 0 10.079 77.73 630.5701 Tm
0 g
(Cost of goods sold and operating expenses — iron ore)Tj
ET
0.934 g
437.49 640.41 9.84 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 437.49 630.0901 Tm
0 g
( )Tj
ET
0.934 g
447.57 640.41 5.04 -12.24 re
f
BT
10.079 0 0 10.079 450.21 630.0901 Tm
0 g
( )Tj
ET
0.934 g
452.85 640.41 27.6 -12.24 re
f
BT
/F6 1 Tf
10.079 0 0 10.079 462.93 630.5701 Tm
0 g
(70.4)Tj
ET
0.934 g
480.69 640.41 9.84 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 480.69 630.0901 Tm
0 g
( )Tj
ET
0.934 g
490.77 640.41 9.84 -12.24 re
f
BT
10.079 0 0 10.079 490.77 630.0901 Tm
0 g
( )Tj
ET
0.934 g
500.85 640.41 5.28 -12.24 re
f
BT
10.079 0 0 10.079 503.73 630.0901 Tm
0 g
( )Tj
ET
0.934 g
506.37 640.41 27.6 -12.24 re
f
BT
/F6 1 Tf
10.079 0 0 10.079 516.45 630.5701 Tm
0 g
(35.1)Tj
ET
0.934 g
534.21 640.41 10.08 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 534.21 630.0901 Tm
0 g
( )Tj
-46.2901 -1.2382 TD
( )Tj
/F6 1 Tf
1.0001 0.0476 TD
(Administrative, selling and general expenses)Tj
/F12 1 Tf
35.6939 -0.0476 TD
1.012 Tc
(  )Tj
/F6 1 Tf
3.0241 0.0476 TD
0 Tc
(4.0)Tj
/F12 1 Tf
1.262 -0.0476 TD
0.7501 Tc
[(  )-285.7( )]TJ
/F6 1 Tf
4.048 0.0476 TD
0 Tc
(2.8)Tj
/F12 1 Tf
1.262 -0.0476 TD
( )Tj
ET
0.934 g
67.65 615.45 9.84 -12.24 re
f
BT
10.079 0 0 10.079 67.65 605.1301 Tm
0 g
( )Tj
ET
0.934 g
77.73 615.45 359.52 -12.24 re
f
BT
/F6 1 Tf
10.079 0 0 10.079 77.73 605.61 Tm
0 g
(Idle expense and pre-operating loss of Cliffs and Associates Limited)Tj
ET
0.934 g
437.49 615.45 9.84 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 437.49 605.1301 Tm
0 g
( )Tj
ET
0.934 g
447.57 615.45 5.04 -12.24 re
f
BT
10.079 0 0 10.079 450.21 605.1301 Tm
0 g
( )Tj
ET
0.934 g
452.85 615.45 27.6 -12.24 re
f
BT
/F6 1 Tf
10.079 0 0 10.079 467.97 605.61 Tm
0 g
(3.3)Tj
ET
0.934 g
480.69 615.45 9.84 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 480.69 605.1301 Tm
0 g
( )Tj
ET
0.934 g
490.77 615.45 9.84 -12.24 re
f
BT
10.079 0 0 10.079 490.77 605.1301 Tm
0 g
( )Tj
ET
0.934 g
500.85 615.45 5.28 -12.24 re
f
BT
10.079 0 0 10.079 503.73 605.1301 Tm
0 g
( )Tj
ET
0.934 g
506.37 615.45 27.6 -12.24 re
f
BT
/F6 1 Tf
10.079 0 0 10.079 521.4899 605.61 Tm
0 g
(5.8)Tj
ET
0.934 g
534.21 615.45 10.08 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 534.21 605.1301 Tm
0 g
( )Tj
-46.2901 -1.2382 TD
( )Tj
/F6 1 Tf
1.0001 0.0476 TD
(Interest expense)Tj
/F12 1 Tf
35.6939 -0.0476 TD
1.012 Tc
(  )Tj
/F6 1 Tf
3.0241 0.0476 TD
0 Tc
(1.9)Tj
/F12 1 Tf
1.262 -0.0476 TD
0.7501 Tc
[(  )-285.7( )]TJ
/F6 1 Tf
4.048 0.0476 TD
0 Tc
(2.1)Tj
/F12 1 Tf
1.262 -0.0476 TD
( )Tj
ET
0.934 g
67.65 590.49 9.84 -12.24 re
f
BT
10.079 0 0 10.079 67.65 580.17 Tm
0 g
( )Tj
ET
0.934 g
77.73 590.49 359.52 -12.24 re
f
BT
/F6 1 Tf
10.079 0 0 10.079 77.73 580.6501 Tm
0 g
(Other expenses)Tj
ET
0.934 g
437.49 590.49 9.84 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 437.49 580.17 Tm
0 g
( )Tj
ET
0.934 g
447.57 590.49 5.04 -12.24 re
f
BT
10.079 0 0 10.079 450.21 580.17 Tm
0 g
( )Tj
ET
0.934 g
452.85 590.49 27.6 -12.24 re
f
BT
/F6 1 Tf
10.079 0 0 10.079 467.97 580.6501 Tm
0 g
(1.3)Tj
ET
0.934 g
480.69 590.49 9.84 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 480.69 580.17 Tm
0 g
( )Tj
ET
0.934 g
490.77 590.49 9.84 -12.24 re
f
BT
10.079 0 0 10.079 490.77 580.17 Tm
0 g
( )Tj
ET
0.934 g
500.85 590.49 5.28 -12.24 re
f
BT
10.079 0 0 10.079 503.73 580.17 Tm
0 g
( )Tj
ET
0.934 g
506.37 590.49 27.6 -12.24 re
f
BT
/F6 1 Tf
10.079 0 0 10.079 521.4899 580.6501 Tm
0 g
(2.5)Tj
ET
0.934 g
534.21 590.49 10.08 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 534.21 580.17 Tm
0 g
( )Tj
-46.2901 -1.1192 TD
( )Tj
36.694 0 TD
0.7501 Tc
(  )Tj
ET
0.5 g
452.85 572.73 27.6 -0.48 re
f
BT
10.079 0 0 10.079 480.69 568.8901 Tm
0 g
(   )Tj
ET
0.5 g
506.37 572.73 27.6 -0.48 re
f
BT
10.079 0 0 10.079 534.21 568.8901 Tm
0 g
0 Tc
( )Tj
-46.2901 -1.2382 TD
0.7501 Tc
(   )Tj
/F6 1 Tf
3.0003 0.0476 TD
0 Tc
(Total Costs and Expenses)Tj
/F12 1 Tf
33.6937 -0.0476 TD
1.012 Tc
(  )Tj
/F6 1 Tf
2.5241 0.0476 TD
0 Tc
(80.9)Tj
/F12 1 Tf
1.7621 -0.0476 TD
0.7501 Tc
[(  )-285.7( )]TJ
/F6 1 Tf
3.548 0.0476 TD
0 Tc
(48.3)Tj
/F12 1 Tf
1.7621 -0.0476 TD
( )Tj
-46.2901 -1.1192 TD
( )Tj
36.694 0 TD
0.7501 Tc
(  )Tj
ET
0.5 g
452.85 548.97 27.6 -0.48 re
f
BT
10.079 0 0 10.079 480.69 545.1301 Tm
0 g
(   )Tj
ET
0.5 g
506.37 548.97 27.6 -0.48 re
f
BT
10.079 0 0 10.079 534.21 545.1301 Tm
0 g
0 Tc
( )Tj
ET
0.934 g
67.65 542.97 369.6 -24.72 re
f
BT
/F6 1 Tf
10.079 0 0 10.079 67.65 533.1301 Tm
0 g
-0.0001 Tc
0.0001 Tw
(LOSS BEFORE INCOME TAXES, MINORITY INTEREST AND CUMULATIVE )Tj
0.7382 -1.2382 TD
(EFFECT OF ACCOUNTING CHANGE)Tj
ET
0.934 g
437.49 542.97 9.84 -24.72 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 437.49 520.17 Tm
0 g
0 Tc
0 Tw
( )Tj
ET
0.934 g
447.57 542.97 5.04 -24.72 re
f
BT
10.079 0 0 10.079 450.21 520.17 Tm
0 g
( )Tj
ET
0.934 g
452.85 542.97 27.6 -24.72 re
f
BT
/F6 1 Tf
10.079 0 0 10.079 459.57 520.6501 Tm
0 g
(\(20.2)Tj
ET
0.934 g
480.69 542.97 9.84 -24.72 re
f
BT
10.079 0 0 10.079 480.69 520.6501 Tm
0 g
(\))Tj
ET
0.934 g
490.77 542.97 9.84 -24.72 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 490.77 520.17 Tm
0 g
( )Tj
ET
0.934 g
500.85 542.97 5.28 -24.72 re
f
BT
10.079 0 0 10.079 503.73 520.17 Tm
0 g
( )Tj
ET
0.934 g
506.37 542.97 27.6 -24.72 re
f
BT
/F6 1 Tf
10.079 0 0 10.079 513.09 520.6501 Tm
0 g
(\(16.0)Tj
ET
0.934 g
534.21 542.97 10.08 -24.72 re
f
BT
10.079 0 0 10.079 534.21 520.6501 Tm
0 g
(\))Tj
-46.2901 -1.2382 TD
-0.0001 Tc
0.0001 Tw
(INCOME TAXES \(CREDIT\))Tj
/F12 1 Tf
36.694 -0.0476 TD
1.012 Tc
0 Tw
(  )Tj
/F6 1 Tf
2.6907 0.0476 TD
0 Tc
[(\(6.7)-12.5(\))]TJ
/F12 1 Tf
2.5955 -0.0476 TD
1.0358 Tc
(  )Tj
/F6 1 Tf
2.7145 0.0476 TD
0 Tc
[(\(5.2)-12.5(\))]TJ
/F12 1 Tf
-44.6947 -1.1668 TD
( )Tj
36.694 0 TD
0.7501 Tc
(  )Tj
ET
0.5 g
452.85 500.25 27.6 -0.48 re
f
BT
10.079 0 0 10.079 480.69 496.4101 Tm
0 g
(   )Tj
ET
0.5 g
506.37 500.25 27.6 -0.48 re
f
BT
10.079 0 0 10.079 534.21 496.4101 Tm
0 g
0 Tc
( )Tj
ET
0.934 g
67.65 494.25 369.6 -24.72 re
f
BT
/F6 1 Tf
10.079 0 0 10.079 67.65 484.4101 Tm
0 g
-0.0001 Tc
0.0001 Tw
(LOSS BEFORE MINORITY INTEREST AND CUMULATIVE EFFECT OF )Tj
0.7382 -1.2382 TD
(ACCOUNTING CHANGE)Tj
ET
0.934 g
437.49 494.25 9.84 -24.72 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 437.49 471.4501 Tm
0 g
0 Tc
0 Tw
( )Tj
ET
0.934 g
447.57 494.25 5.04 -24.72 re
f
BT
10.079 0 0 10.079 450.21 471.4501 Tm
0 g
( )Tj
ET
0.934 g
452.85 494.25 27.6 -24.72 re
f
BT
/F6 1 Tf
10.079 0 0 10.079 459.57 471.9301 Tm
0 g
(\(13.5)Tj
ET
0.934 g
480.69 494.25 9.84 -24.72 re
f
BT
10.079 0 0 10.079 480.69 471.9301 Tm
0 g
(\))Tj
ET
0.934 g
490.77 494.25 9.84 -24.72 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 490.77 471.4501 Tm
0 g
( )Tj
ET
0.934 g
500.85 494.25 5.28 -24.72 re
f
BT
10.079 0 0 10.079 503.73 471.4501 Tm
0 g
( )Tj
ET
0.934 g
506.37 494.25 27.6 -24.72 re
f
BT
/F6 1 Tf
10.079 0 0 10.079 513.09 471.9301 Tm
0 g
(\(10.8)Tj
ET
0.934 g
534.21 494.25 10.08 -24.72 re
f
BT
10.079 0 0 10.079 534.21 471.9301 Tm
0 g
(\))Tj
-46.2901 -1.2382 TD
-0.0001 Tc
0.0001 Tw
(MINORITY INTEREST)Tj
/F12 1 Tf
36.694 -0.0476 TD
1.012 Tc
0 Tw
(  )Tj
/F6 1 Tf
3.5241 0.0476 TD
0 Tc
(.7)Tj
/F12 1 Tf
0.762 -0.0476 TD
0.7501 Tc
[(  )-285.7( )]TJ
/F6 1 Tf
4.048 0.0476 TD
0 Tc
(1.2)Tj
/F12 1 Tf
1.262 -0.0476 TD
( )Tj
-46.2901 -1.1192 TD
( )Tj
36.694 0 TD
0.7501 Tc
(  )Tj
ET
0.5 g
452.85 451.53 27.6 -0.48 re
f
BT
10.079 0 0 10.079 480.69 447.6901 Tm
0 g
(   )Tj
ET
0.5 g
506.37 451.53 27.6 -0.48 re
f
BT
10.079 0 0 10.079 534.21 447.6901 Tm
0 g
0 Tc
( )Tj
ET
0.934 g
67.65 445.53 369.6 -12.24 re
f
BT
/F6 1 Tf
10.079 0 0 10.079 67.65 435.6901 Tm
0 g
-0.0001 Tc
0.0001 Tw
(LOSS BEFORE CUMULATIVE EFFECT OF ACCOUNTING CHANGE)Tj
ET
0.934 g
437.49 445.53 9.84 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 437.49 435.2101 Tm
0 g
0 Tc
0 Tw
( )Tj
ET
0.934 g
447.57 445.53 5.04 -12.24 re
f
BT
10.079 0 0 10.079 450.21 435.2101 Tm
0 g
( )Tj
ET
0.934 g
452.85 445.53 27.6 -12.24 re
f
BT
/F6 1 Tf
10.079 0 0 10.079 459.57 435.6901 Tm
0 g
(\(12.8)Tj
ET
0.934 g
480.69 445.53 9.84 -12.24 re
f
BT
10.079 0 0 10.079 480.69 435.6901 Tm
0 g
(\))Tj
ET
0.934 g
490.77 445.53 9.84 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 490.77 435.2101 Tm
0 g
( )Tj
ET
0.934 g
500.85 445.53 5.28 -12.24 re
f
BT
10.079 0 0 10.079 503.73 435.2101 Tm
0 g
( )Tj
ET
0.934 g
506.37 445.53 27.6 -12.24 re
f
BT
/F6 1 Tf
10.079 0 0 10.079 518.1299 435.6901 Tm
0 g
(\(9.6)Tj
ET
0.934 g
534.21 445.53 10.08 -12.24 re
f
BT
10.079 0 0 10.079 534.21 435.6901 Tm
0 g
(\))Tj
-46.2901 -1.2382 TD
-0.0001 Tc
0.0001 Tw
(CUMULATIVE EFFECT OF ACCOUNTING CHANGE — NET OF $5.0 TAX)Tj
/F12 1 Tf
36.694 -0.0476 TD
0.7501 Tc
0 Tw
[(  )476.2( )-1762.1(  )-285.7( )]TJ
/F6 1 Tf
8.3341 0.0476 TD
0 Tc
(9.3)Tj
/F12 1 Tf
1.262 -0.0476 TD
( )Tj
-46.2901 -1.1192 TD
( )Tj
36.694 0 TD
0.7501 Tc
(  )Tj
ET
0.5 g
452.85 415.29 27.6 -0.48 re
f
BT
10.079 0 0 10.079 480.69 411.4501 Tm
0 g
(   )Tj
ET
0.5 g
506.37 415.29 27.6 -0.48 re
f
BT
10.079 0 0 10.079 534.21 411.4501 Tm
0 g
0 Tc
( )Tj
ET
0.934 g
67.65 409.29 369.6 -12.24 re
f
BT
/F6 1 Tf
10.079 0 0 10.079 67.65 399.4501 Tm
0 g
-0.0001 Tc
0.0001 Tw
(NET LOSS)Tj
ET
0.934 g
437.49 409.29 9.84 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 437.49 398.9701 Tm
0 g
0 Tc
0 Tw
( )Tj
ET
0.934 g
447.57 409.29 5.04 -12.24 re
f
BT
/F6 1 Tf
10.079 0 0 10.079 447.81 399.4501 Tm
0 g
($)Tj
ET
0.934 g
452.85 409.29 27.6 -12.24 re
f
BT
10.079 0 0 10.079 459.57 399.4501 Tm
0 g
(\(12.8)Tj
ET
0.934 g
480.69 409.29 9.84 -12.24 re
f
BT
10.079 0 0 10.079 480.69 399.4501 Tm
0 g
(\))Tj
ET
0.934 g
490.77 409.29 9.84 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 490.77 398.9701 Tm
0 g
( )Tj
ET
0.934 g
500.85 409.29 5.28 -12.24 re
f
BT
/F6 1 Tf
10.079 0 0 10.079 501.33 399.4501 Tm
0 g
($)Tj
ET
0.934 g
506.37 409.29 27.6 -12.24 re
f
BT
10.079 0 0 10.079 523.1699 399.4501 Tm
0 g
(\(.3)Tj
ET
0.934 g
534.21 409.29 10.08 -12.24 re
f
BT
10.079 0 0 10.079 534.21 399.4501 Tm
0 g
(\))Tj
/F12 1 Tf
-46.2901 -1.1668 TD
( )Tj
36.694 0 TD
0.7501 Tc
(  )Tj
ET
0.5 g
452.85 392.73 27.6 -2.88 re
f
BT
10.079 0 0 10.079 480.69 387.6901 Tm
0 g
(   )Tj
ET
0.5 g
506.37 392.73 27.6 -2.88 re
f
BT
10.079 0 0 10.079 534.21 387.6901 Tm
0 g
0 Tc
( )Tj
ET
0.934 g
67.65 385.53 369.6 -12.24 re
f
BT
/F6 1 Tf
10.079 0 0 10.079 67.65 375.6901 Tm
0 g
-0.0001 Tc
0.0001 Tw
(NET LOSS PER COMMON SHARE)Tj
ET
0.934 g
437.49 385.53 9.84 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 437.49 375.2101 Tm
0 g
0 Tc
0 Tw
( )Tj
ET
0.934 g
447.57 385.53 5.04 -12.24 re
f
452.85 385.53 27.6 -12.24 re
f
480.69 385.53 9.84 -12.24 re
f
490.77 385.53 9.84 -12.24 re
f
BT
10.079 0 0 10.079 490.77 375.2101 Tm
0 g
( )Tj
ET
0.934 g
500.85 385.53 5.28 -12.24 re
f
506.37 385.53 27.6 -12.24 re
f
534.21 385.53 10.08 -12.24 re
f
BT
10.079 0 0 10.079 67.65 362.7301 Tm
0 g
( )Tj
/F6 1 Tf
1.0001 0.0476 TD
(Basic and Diluted)Tj
/F12 1 Tf
35.6939 -0.0476 TD
5.0362 Tc
(  )Tj
ET
0.934 g
67.65 360.57 9.84 -12.24 re
f
BT
10.079 0 0 10.079 67.65 350.2501 Tm
0 g
0 Tc
( )Tj
ET
0.934 g
77.73 360.57 359.52 -12.24 re
f
BT
/F6 1 Tf
10.079 0 0 10.079 77.73 350.7301 Tm
0 g
(Before cumulative effect of accounting change)Tj
ET
0.934 g
437.49 360.57 9.84 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 437.49 350.2501 Tm
0 g
( )Tj
ET
0.934 g
447.57 360.57 5.04 -12.24 re
f
BT
/F6 1 Tf
10.079 0 0 10.079 447.81 350.7301 Tm
0 g
($)Tj
ET
0.934 g
452.85 360.57 27.6 -12.24 re
f
BT
10.079 0 0 10.079 459.57 350.7301 Tm
0 g
(\(1.27)Tj
ET
0.934 g
480.69 360.57 9.84 -12.24 re
f
BT
10.079 0 0 10.079 480.69 350.7301 Tm
0 g
(\))Tj
ET
0.934 g
490.77 360.57 9.84 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 490.77 350.2501 Tm
0 g
( )Tj
ET
0.934 g
500.85 360.57 5.28 -12.24 re
f
BT
/F6 1 Tf
10.079 0 0 10.079 501.33 350.7301 Tm
0 g
($)Tj
ET
0.934 g
506.37 360.57 27.6 -12.24 re
f
BT
10.079 0 0 10.079 518.1299 350.7301 Tm
0 g
(\(.95)Tj
ET
0.934 g
534.21 360.57 10.08 -12.24 re
f
BT
10.079 0 0 10.079 534.21 350.7301 Tm
0 g
(\))Tj
/F12 1 Tf
-46.2901 -1.2858 TD
0.7501 Tc
(  )Tj
/F6 1 Tf
2.0002 0.0476 TD
0 Tc
(Cumulative effect of accounting change — net of tax)Tj
/F12 1 Tf
34.6938 -0.0476 TD
0.7501 Tc
[(  )476.2( )-1762.1(  )-285.7( )]TJ
/F6 1 Tf
8.3341 0.0476 TD
0 Tc
(.92)Tj
/F12 1 Tf
1.262 -0.0476 TD
( )Tj
-46.2901 -1.1192 TD
( )Tj
36.694 0 TD
0.7501 Tc
(  )Tj
ET
0.5 g
452.85 330.33 27.6 -0.48 re
f
BT
10.079 0 0 10.079 480.69 326.4901 Tm
0 g
(   )Tj
ET
0.5 g
506.37 330.33 27.6 -0.48 re
f
BT
10.079 0 0 10.079 534.21 326.4901 Tm
0 g
0 Tc
( )Tj
ET
0.934 g
67.65 324.33 9.84 -12.24 re
f
BT
10.079 0 0 10.079 67.65 314.0101 Tm
0 g
( )Tj
ET
0.934 g
77.73 324.33 9.84 -12.24 re
f
BT
10.079 0 0 10.079 77.73 314.0101 Tm
0 g
( )Tj
ET
0.934 g
87.81 324.33 9.84 -12.24 re
f
BT
10.079 0 0 10.079 87.81 314.0101 Tm
0 g
( )Tj
ET
0.934 g
97.89 324.33 9.84 -12.24 re
f
BT
10.079 0 0 10.079 97.89 314.0101 Tm
0 g
( )Tj
ET
0.934 g
107.97 324.33 329.28 -12.24 re
f
BT
/F6 1 Tf
10.079 0 0 10.079 107.97 314.4901 Tm
0 g
(Net loss)Tj
ET
0.934 g
437.49 324.33 9.84 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 437.49 314.0101 Tm
0 g
( )Tj
ET
0.934 g
447.57 324.33 5.04 -12.24 re
f
BT
/F6 1 Tf
10.079 0 0 10.079 447.81 314.4901 Tm
0 g
($)Tj
ET
0.934 g
452.85 324.33 27.6 -12.24 re
f
BT
10.079 0 0 10.079 459.57 314.4901 Tm
0 g
(\(1.27)Tj
ET
0.934 g
480.69 324.33 9.84 -12.24 re
f
BT
10.079 0 0 10.079 480.69 314.4901 Tm
0 g
(\))Tj
ET
0.934 g
490.77 324.33 9.84 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 490.77 314.0101 Tm
0 g
( )Tj
ET
0.934 g
500.85 324.33 5.28 -12.24 re
f
BT
/F6 1 Tf
10.079 0 0 10.079 501.33 314.4901 Tm
0 g
($)Tj
ET
0.934 g
506.37 324.33 27.6 -12.24 re
f
BT
10.079 0 0 10.079 518.1299 314.4901 Tm
0 g
(\(.03)Tj
ET
0.934 g
534.21 324.33 10.08 -12.24 re
f
BT
10.079 0 0 10.079 534.21 314.4901 Tm
0 g
(\))Tj
/F12 1 Tf
-46.2901 -1.1668 TD
( )Tj
36.694 0 TD
0.7501 Tc
(  )Tj
ET
0.5 g
452.85 307.77 27.6 -2.88 re
f
BT
10.079 0 0 10.079 480.69 302.7301 Tm
0 g
(   )Tj
ET
0.5 g
506.37 307.77 27.6 -2.88 re
f
BT
10.079 0 0 10.079 534.21 302.7301 Tm
0 g
0 Tc
( )Tj
/F6 1 Tf
-46.2901 -1.1906 TD
-0.0001 Tc
0.0001 Tw
(AVERAGE NUMBER OF SHARES \(IN THOUSANDS\))Tj
/F12 1 Tf
36.694 -0.0476 TD
2.7741 Tc
0 Tw
[( )1762.1(  )2024( )1738.3(  )]TJ
ET
0.934 g
67.65 288.09 9.84 -12.24 re
f
BT
10.079 0 0 10.079 67.65 277.7701 Tm
0 g
0 Tc
( )Tj
ET
0.934 g
77.73 288.09 359.52 -12.24 re
f
BT
/F6 1 Tf
10.079 0 0 10.079 77.73 278.2501 Tm
0 g
(Basic)Tj
ET
0.934 g
437.49 288.09 9.84 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 437.49 277.7701 Tm
0 g
( )Tj
ET
0.934 g
447.57 288.09 5.04 -12.24 re
f
BT
10.079 0 0 10.079 450.21 277.7701 Tm
0 g
( )Tj
ET
0.934 g
452.85 288.09 27.6 -12.24 re
f
BT
/F6 1 Tf
10.079 0 0 10.079 452.85 278.2501 Tm
0 g
(10,165)Tj
ET
0.934 g
480.69 288.09 9.84 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 480.69 277.7701 Tm
0 g
( )Tj
ET
0.934 g
490.77 288.09 9.84 -12.24 re
f
BT
10.079 0 0 10.079 490.77 277.7701 Tm
0 g
( )Tj
ET
0.934 g
500.85 288.09 5.28 -12.24 re
f
BT
10.079 0 0 10.079 503.73 277.7701 Tm
0 g
( )Tj
ET
0.934 g
506.37 288.09 27.6 -12.24 re
f
BT
/F6 1 Tf
10.079 0 0 10.079 506.37 278.2501 Tm
0 g
(10,104)Tj
ET
0.934 g
534.21 288.09 10.08 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 534.21 277.7701 Tm
0 g
( )Tj
-46.2901 -1.2382 TD
( )Tj
/F6 1 Tf
1.0001 0.0476 TD
(Diluted)Tj
/F12 1 Tf
35.6939 -0.0476 TD
1.012 Tc
(  )Tj
/F6 1 Tf
1.524 0.0476 TD
0 Tc
(10,165)Tj
/F12 1 Tf
2.7622 -0.0476 TD
0.7501 Tc
[(  )-285.7( )]TJ
/F6 1 Tf
2.5479 0.0476 TD
0 Tc
(10,104)Tj
/F12 1 Tf
2.7622 -0.0476 TD
( )Tj
/F6 1 Tf
-50.4572 -2.5955 TD
(See notes to consolidated financial statements.)Tj
/F12 1 Tf
27.5741 -2.7384 TD
(2)Tj
ET
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1 i 
18.21 989.85 575.76 -906.72 re
f
BT
/F12 1 Tf
12 0 0 12 25.65 979.05 Tm
0 g
0 Tc
0 Tw
(                  )Tj
/F6 1 Tf
10.079 0 0 10.079 154.05 952.41 Tm
-0.0001 Tc
0.0001 Tw
(CLEVELAND-CLIFFS INC AND CONSOLIDATED SUBSIDIARIES)Tj
1.4525 -2.6431 TD
(STATEMENT OF CONSOLIDATED FINANCIAL POSITION)Tj
/F12 1 Tf
12 0 0 12 95.73 912.3301 Tm
1.03 Tc
0 Tw
[(     )-17180(  )700( )-900( )360(  )-40( )-900( )]TJ
7.439 0 0 7.439 95.73 902.25 Tm
1.8148 Tc
[(     )-27713.2( )]TJ
/F6 1 Tf
45.651 0.0323 TD
0 Tc
(\(In Millions\))Tj
/F12 1 Tf
-45.651 -1.2582 TD
1.8148 Tc
[(     )-27713.2( )]TJ
/F6 1 Tf
40.973 0.0323 TD
0 Tc
(March 31)Tj
/F12 1 Tf
5.0652 -0.0323 TD
( )Tj
/F6 1 Tf
3.4843 0.0323 TD
(December 31)Tj
/F12 1 Tf
-49.5225 -1.2582 TD
1.8148 Tc
[(     )-27713.2( )]TJ
/F6 1 Tf
42.0377 0.0323 TD
0 Tc
(2002)Tj
/F12 1 Tf
4.0005 -0.0323 TD
( )Tj
/F6 1 Tf
5.2587 0.0323 TD
(2001)Tj
/F12 1 Tf
-51.2969 -1.1614 TD
1.8148 Tc
[(     )-27713.2( )]TJ
ET
0.5 g
394.05 876.33 43.92 -0.48 re
f
BT
7.439 0 0 7.439 438.21 875.61 Tm
0 g
0 Tc
( )Tj
ET
0.5 g
453.57 876.33 62.88 -0.48 re
f
0.934 g
95.73 873.93 15.12 -12.24 re
f
BT
10.079 0 0 10.079 95.73 863.61 Tm
0 g
( )Tj
ET
0.934 g
111.09 873.93 15.12 -12.24 re
f
BT
10.079 0 0 10.079 111.09 863.61 Tm
0 g
( )Tj
ET
0.934 g
126.45 873.93 15.12 -12.24 re
f
BT
10.079 0 0 10.079 126.45 863.61 Tm
0 g
( )Tj
ET
0.934 g
141.81 873.93 15.12 -12.24 re
f
BT
10.079 0 0 10.079 141.81 863.61 Tm
0 g
( )Tj
ET
0.934 g
157.17 873.93 221.28 -12.24 re
f
BT
/F6 1 Tf
10.079 0 0 10.079 157.17 864.0901 Tm
0 g
-0.0001 Tc
(ASSETS)Tj
ET
0.934 g
378.69 873.93 15.12 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 378.69 863.61 Tm
0 g
0 Tc
( )Tj
ET
0.934 g
394.05 873.93 6.72 -12.24 re
f
BT
10.079 0 0 10.079 394.05 863.61 Tm
0 g
( )Tj
ET
0.934 g
401.01 873.93 25.92 -12.24 re
f
BT
10.079 0 0 10.079 401.01 863.61 Tm
0 g
( )Tj
ET
0.934 g
427.17 873.93 10.8 -12.24 re
f
BT
10.079 0 0 10.079 427.17 863.61 Tm
0 g
( )Tj
ET
0.934 g
438.21 873.93 15.12 -12.24 re
f
BT
10.079 0 0 10.079 438.21 863.61 Tm
0 g
( )Tj
ET
0.934 g
453.57 873.93 15.6 -12.24 re
f
BT
10.079 0 0 10.079 453.57 863.61 Tm
0 g
( )Tj
ET
0.934 g
469.41 873.93 25.92 -12.24 re
f
BT
10.079 0 0 10.079 469.41 863.61 Tm
0 g
( )Tj
ET
0.934 g
495.57 873.93 20.88 -12.24 re
f
BT
10.079 0 0 10.079 495.57 863.61 Tm
0 g
( )Tj
/F6 1 Tf
-39.6704 -1.1906 TD
-0.0001 Tc
0.0001 Tw
(CURRENT ASSETS)Tj
/F12 1 Tf
28.0741 -0.0476 TD
1.274 Tc
0 Tw
[(  )833.5( )-1071.5( )428.7(  )-47.6( )-1071.5( )]TJ
ET
0.934 g
95.73 848.97 15.12 -12.24 re
f
BT
10.079 0 0 10.079 95.73 838.65 Tm
0 g
0 Tc
( )Tj
ET
0.934 g
111.09 848.97 267.36 -12.24 re
f
BT
/F6 1 Tf
10.079 0 0 10.079 111.09 839.13 Tm
0 g
(Cash and cash equivalents)Tj
ET
0.934 g
378.69 848.97 15.12 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 378.69 838.65 Tm
0 g
( )Tj
ET
0.934 g
394.05 848.97 6.72 -12.24 re
f
BT
/F6 1 Tf
10.079 0 0 10.079 395.97 839.13 Tm
0 g
($)Tj
ET
0.934 g
401.01 848.97 25.92 -12.24 re
f
BT
10.079 0 0 10.079 404.37 839.13 Tm
0 g
(142.1)Tj
ET
0.934 g
427.17 848.97 10.8 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 427.17 838.65 Tm
0 g
( )Tj
ET
0.934 g
438.21 848.97 15.12 -12.24 re
f
BT
10.079 0 0 10.079 438.21 838.65 Tm
0 g
( )Tj
ET
0.934 g
453.57 848.97 15.6 -12.24 re
f
BT
/F6 1 Tf
10.079 0 0 10.079 464.37 839.13 Tm
0 g
($)Tj
ET
0.934 g
469.41 848.97 25.92 -12.24 re
f
BT
10.079 0 0 10.079 472.77 839.13 Tm
0 g
(183.8)Tj
ET
0.934 g
495.57 848.97 20.88 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 495.57 838.65 Tm
0 g
( )Tj
-39.6704 -1.2382 TD
( )Tj
/F13 1 Tf
1.524 0.0476 TD
(Trade accounts receivable )Tj
/F6 1 Tf
11.414 0 TD
(—)Tj
/F13 1 Tf
0.9999 0 TD
( net)Tj
/F12 1 Tf
14.1363 -0.0476 TD
1.7026 Tc
(  )Tj
/F13 1 Tf
3.548 0.0476 TD
0 Tc
(9.9)Tj
/F12 1 Tf
1.262 -0.0476 TD
0.8453 Tc
[(  )-1738.3( )]TJ
/F13 1 Tf
5.0243 0.0476 TD
0 Tc
(19.9)Tj
/F12 1 Tf
1.7621 -0.0476 TD
( )Tj
ET
0.934 g
95.73 824.01 15.12 -12.24 re
f
BT
10.079 0 0 10.079 95.73 813.6901 Tm
0 g
( )Tj
ET
0.934 g
111.09 824.01 267.36 -12.24 re
f
BT
/F13 1 Tf
10.079 0 0 10.079 111.09 814.17 Tm
0 g
(Receivables from associated companies)Tj
ET
0.934 g
378.69 824.01 15.12 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 378.69 813.6901 Tm
0 g
( )Tj
ET
0.934 g
394.05 824.01 6.72 -12.24 re
f
BT
10.079 0 0 10.079 398.37 813.6901 Tm
0 g
( )Tj
ET
0.934 g
401.01 824.01 25.92 -12.24 re
f
BT
/F13 1 Tf
10.079 0 0 10.079 414.45 814.17 Tm
0 g
(2.2)Tj
ET
0.934 g
427.17 824.01 10.8 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 427.17 813.6901 Tm
0 g
( )Tj
ET
0.934 g
438.21 824.01 15.12 -12.24 re
f
BT
10.079 0 0 10.079 438.21 813.6901 Tm
0 g
( )Tj
ET
0.934 g
453.57 824.01 15.6 -12.24 re
f
BT
10.079 0 0 10.079 466.77 813.6901 Tm
0 g
( )Tj
ET
0.934 g
469.41 824.01 25.92 -12.24 re
f
BT
/F13 1 Tf
10.079 0 0 10.079 477.81 814.17 Tm
0 g
(12.1)Tj
ET
0.934 g
495.57 824.01 20.88 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 495.57 813.6901 Tm
0 g
( )Tj
-39.6704 -1.2382 TD
( )Tj
/F13 1 Tf
1.524 0.0476 TD
(Inventories)Tj
/F12 1 Tf
26.5501 -0.0476 TD
2.6074 Tc
[( )904.8(  )1762.1( )23.8(  )]TJ
-28.0741 -1.2382 TD
1.274 Tc
(  )Tj
/F13 1 Tf
3.0479 0.0476 TD
0 Tc
(Product)Tj
/F12 1 Tf
25.0262 -0.0476 TD
1.7026 Tc
(  )Tj
/F13 1 Tf
2.5479 0.0476 TD
0 Tc
(126.3)Tj
/F12 1 Tf
2.2621 -0.0476 TD
0.8453 Tc
[(  )-1738.3( )]TJ
/F13 1 Tf
5.0243 0.0476 TD
0 Tc
(84.8)Tj
/F12 1 Tf
1.7621 -0.0476 TD
( )Tj
ET
0.934 g
95.73 786.57 15.12 -12.24 re
f
BT
10.079 0 0 10.079 95.73 776.25 Tm
0 g
( )Tj
ET
0.934 g
111.09 786.57 15.12 -12.24 re
f
BT
10.079 0 0 10.079 111.09 776.25 Tm
0 g
( )Tj
ET
0.934 g
126.45 786.57 252 -12.24 re
f
BT
/F13 1 Tf
10.079 0 0 10.079 126.45 776.73 Tm
0 g
(Supplies and other)Tj
ET
0.934 g
378.69 786.57 15.12 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 378.69 776.25 Tm
0 g
( )Tj
ET
0.934 g
394.05 786.57 6.72 -12.24 re
f
BT
10.079 0 0 10.079 398.37 776.25 Tm
0 g
( )Tj
ET
0.934 g
401.01 786.57 25.92 -12.24 re
f
BT
/F13 1 Tf
10.079 0 0 10.079 409.41 776.73 Tm
0 g
(49.8)Tj
ET
0.934 g
427.17 786.57 10.8 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 427.17 776.25 Tm
0 g
( )Tj
ET
0.934 g
438.21 786.57 15.12 -12.24 re
f
BT
10.079 0 0 10.079 438.21 776.25 Tm
0 g
( )Tj
ET
0.934 g
453.57 786.57 15.6 -12.24 re
f
BT
10.079 0 0 10.079 466.77 776.25 Tm
0 g
( )Tj
ET
0.934 g
469.41 786.57 25.92 -12.24 re
f
BT
/F13 1 Tf
10.079 0 0 10.079 477.81 776.73 Tm
0 g
(29.0)Tj
ET
0.934 g
495.57 786.57 20.88 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 495.57 776.25 Tm
0 g
( )Tj
-39.6704 -1.2382 TD
( )Tj
/F13 1 Tf
1.524 0.0476 TD
(Deferred and refundable income taxes)Tj
/F12 1 Tf
26.5501 -0.0476 TD
1.7026 Tc
(  )Tj
/F13 1 Tf
3.0479 0.0476 TD
0 Tc
(28.1)Tj
/F12 1 Tf
1.7621 -0.0476 TD
0.8453 Tc
[(  )-1738.3( )]TJ
/F13 1 Tf
5.0243 0.0476 TD
0 Tc
(20.8)Tj
/F12 1 Tf
1.7621 -0.0476 TD
( )Tj
ET
0.934 g
95.73 761.61 15.12 -12.24 re
f
BT
10.079 0 0 10.079 95.73 751.29 Tm
0 g
( )Tj
ET
0.934 g
111.09 761.61 267.36 -12.24 re
f
BT
/F13 1 Tf
10.079 0 0 10.079 111.09 751.77 Tm
0 g
(Other)Tj
ET
0.934 g
378.69 761.61 15.12 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 378.69 751.29 Tm
0 g
( )Tj
ET
0.934 g
394.05 761.61 6.72 -12.24 re
f
BT
10.079 0 0 10.079 398.37 751.29 Tm
0 g
( )Tj
ET
0.934 g
401.01 761.61 25.92 -12.24 re
f
BT
/F13 1 Tf
10.079 0 0 10.079 409.41 751.77 Tm
0 g
(20.4)Tj
ET
0.934 g
427.17 761.61 10.8 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 427.17 751.29 Tm
0 g
( )Tj
ET
0.934 g
438.21 761.61 15.12 -12.24 re
f
BT
10.079 0 0 10.079 438.21 751.29 Tm
0 g
( )Tj
ET
0.934 g
453.57 761.61 15.6 -12.24 re
f
BT
10.079 0 0 10.079 466.77 751.29 Tm
0 g
( )Tj
ET
0.934 g
469.41 761.61 25.92 -12.24 re
f
BT
/F13 1 Tf
10.079 0 0 10.079 477.81 751.77 Tm
0 g
(12.3)Tj
ET
0.934 g
495.57 761.61 20.88 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 495.57 751.29 Tm
0 g
( )Tj
-39.6704 -1.1192 TD
27.8241 Tc
[(  )26550.1( )]TJ
ET
0.5 g
401.01 743.85 25.92 -0.48 re
f
BT
10.079 0 0 10.079 427.17 740.0101 Tm
0 g
0.8453 Tc
[(  )-428.7( )]TJ
ET
0.5 g
469.41 743.85 25.92 -0.48 re
f
BT
10.079 0 0 10.079 495.57 740.0101 Tm
0 g
0 Tc
( )Tj
-39.6704 -1.2382 TD
1.274 Tc
(   )Tj
/F13 1 Tf
4.5719 0.0476 TD
-0.0001 Tc
0.0001 Tw
(TOTAL CURRENT ASSETS)Tj
/F12 1 Tf
23.5022 -0.0476 TD
1.7026 Tc
0 Tw
(  )Tj
/F13 1 Tf
2.5479 0.0476 TD
0 Tc
(378.8)Tj
/F12 1 Tf
2.2621 -0.0476 TD
0.8453 Tc
[(  )-1738.3( )]TJ
/F13 1 Tf
4.5242 0.0476 TD
0 Tc
(362.7)Tj
/F12 1 Tf
2.2621 -0.0476 TD
( )Tj
ET
0.934 g
95.73 725.37 282.72 -12.24 re
f
BT
/F13 1 Tf
10.079 0 0 10.079 95.73 715.53 Tm
0 g
-0.0001 Tc
(PROPERTIES)Tj
ET
0.934 g
378.69 725.37 15.12 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 378.69 715.05 Tm
0 g
0 Tc
( )Tj
ET
0.934 g
394.05 725.37 6.72 -12.24 re
f
BT
10.079 0 0 10.079 398.37 715.05 Tm
0 g
( )Tj
ET
0.934 g
401.01 725.37 25.92 -12.24 re
f
BT
/F13 1 Tf
10.079 0 0 10.079 404.37 715.53 Tm
0 g
(498.1)Tj
ET
0.934 g
427.17 725.37 10.8 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 427.17 715.05 Tm
0 g
( )Tj
ET
0.934 g
438.21 725.37 15.12 -12.24 re
f
BT
10.079 0 0 10.079 438.21 715.05 Tm
0 g
( )Tj
ET
0.934 g
453.57 725.37 15.6 -12.24 re
f
BT
10.079 0 0 10.079 466.77 715.05 Tm
0 g
( )Tj
ET
0.934 g
469.41 725.37 25.92 -12.24 re
f
BT
/F13 1 Tf
10.079 0 0 10.079 472.77 715.53 Tm
0 g
(358.0)Tj
ET
0.934 g
495.57 725.37 20.88 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 495.57 715.05 Tm
0 g
( )Tj
-39.6704 -1.2382 TD
( )Tj
/F13 1 Tf
1.524 0.0476 TD
(Allowances for depreciation and depletion)Tj
/F12 1 Tf
26.5501 -0.0476 TD
1.7026 Tc
(  )Tj
/F13 1 Tf
2.2145 0.0476 TD
0 Tc
[(\(101.5)-12.7(\))]TJ
/F12 1 Tf
3.6908 -0.0476 TD
2.5836 Tc
(  )Tj
/F13 1 Tf
3.5956 0.0476 TD
0 Tc
[(\(97.7)-12.6(\))]TJ
/F12 1 Tf
-37.575 -1.1668 TD
27.8241 Tc
[(  )26550.1( )]TJ
ET
0.5 g
401.01 695.13 25.92 -0.48 re
f
BT
10.079 0 0 10.079 427.17 691.29 Tm
0 g
0.8453 Tc
[(  )-428.7( )]TJ
ET
0.5 g
469.41 695.13 25.92 -0.48 re
f
BT
10.079 0 0 10.079 495.57 691.29 Tm
0 g
0 Tc
( )Tj
ET
0.934 g
95.73 689.13 15.12 -12.24 re
f
BT
10.079 0 0 10.079 95.73 678.8101 Tm
0 g
( )Tj
ET
0.934 g
111.09 689.13 15.12 -12.24 re
f
BT
10.079 0 0 10.079 111.09 678.8101 Tm
0 g
( )Tj
ET
0.934 g
126.45 689.13 15.12 -12.24 re
f
BT
10.079 0 0 10.079 126.45 678.8101 Tm
0 g
( )Tj
ET
0.934 g
141.81 689.13 236.64 -12.24 re
f
BT
/F13 1 Tf
10.079 0 0 10.079 141.81 679.29 Tm
0 g
-0.0001 Tc
0.0001 Tw
(TOTAL PROPERTIES)Tj
ET
0.934 g
378.69 689.13 15.12 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 378.69 678.8101 Tm
0 g
0 Tc
0 Tw
( )Tj
ET
0.934 g
394.05 689.13 6.72 -12.24 re
f
BT
10.079 0 0 10.079 398.37 678.8101 Tm
0 g
( )Tj
ET
0.934 g
401.01 689.13 25.92 -12.24 re
f
BT
/F13 1 Tf
10.079 0 0 10.079 404.37 679.29 Tm
0 g
(396.6)Tj
ET
0.934 g
427.17 689.13 10.8 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 427.17 678.8101 Tm
0 g
( )Tj
ET
0.934 g
438.21 689.13 15.12 -12.24 re
f
BT
10.079 0 0 10.079 438.21 678.8101 Tm
0 g
( )Tj
ET
0.934 g
453.57 689.13 15.6 -12.24 re
f
BT
10.079 0 0 10.079 466.77 678.8101 Tm
0 g
( )Tj
ET
0.934 g
469.41 689.13 25.92 -12.24 re
f
BT
/F13 1 Tf
10.079 0 0 10.079 472.77 679.29 Tm
0 g
(260.3)Tj
ET
0.934 g
495.57 689.13 20.88 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 495.57 678.8101 Tm
0 g
( )Tj
/F13 1 Tf
-39.6704 -1.1906 TD
-0.0001 Tc
0.0001 Tw
(INVESTMENTS IN ASSOCIATED COMPANIES)Tj
/F12 1 Tf
28.0741 -0.0476 TD
1.7026 Tc
0 Tw
(  )Tj
/F13 1 Tf
3.0479 0.0476 TD
0 Tc
(46.3)Tj
/F12 1 Tf
1.7621 -0.0476 TD
0.8453 Tc
[(  )-1738.3( )]TJ
/F13 1 Tf
4.5242 0.0476 TD
0 Tc
(135.0)Tj
/F12 1 Tf
2.2621 -0.0476 TD
( )Tj
ET
0.934 g
95.73 664.17 282.72 -12.24 re
f
BT
/F13 1 Tf
10.079 0 0 10.079 95.73 654.3301 Tm
0 g
-0.0001 Tc
0.0001 Tw
(OTHER ASSETS)Tj
ET
0.934 g
378.69 664.17 15.12 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 378.69 653.8501 Tm
0 g
0 Tc
0 Tw
( )Tj
ET
0.934 g
394.05 664.17 6.72 -12.24 re
f
BT
10.079 0 0 10.079 394.05 653.8501 Tm
0 g
( )Tj
ET
0.934 g
401.01 664.17 25.92 -12.24 re
f
BT
10.079 0 0 10.079 401.01 653.8501 Tm
0 g
( )Tj
ET
0.934 g
427.17 664.17 10.8 -12.24 re
f
BT
10.079 0 0 10.079 427.17 653.8501 Tm
0 g
( )Tj
ET
0.934 g
438.21 664.17 15.12 -12.24 re
f
BT
10.079 0 0 10.079 438.21 653.8501 Tm
0 g
( )Tj
ET
0.934 g
453.57 664.17 15.6 -12.24 re
f
BT
10.079 0 0 10.079 453.57 653.8501 Tm
0 g
( )Tj
ET
0.934 g
469.41 664.17 25.92 -12.24 re
f
BT
10.079 0 0 10.079 469.41 653.8501 Tm
0 g
( )Tj
ET
0.934 g
495.57 664.17 20.88 -12.24 re
f
BT
10.079 0 0 10.079 495.57 653.8501 Tm
0 g
( )Tj
-39.6704 -1.2382 TD
( )Tj
/F13 1 Tf
1.524 0.0476 TD
(Prepaid pensions)Tj
/F12 1 Tf
26.5501 -0.0476 TD
1.7026 Tc
(  )Tj
/F13 1 Tf
3.0479 0.0476 TD
0 Tc
(43.2)Tj
/F12 1 Tf
1.7621 -0.0476 TD
0.8453 Tc
[(  )-1738.3( )]TJ
/F13 1 Tf
5.0243 0.0476 TD
0 Tc
(46.1)Tj
/F12 1 Tf
1.7621 -0.0476 TD
( )Tj
ET
0.934 g
95.73 639.21 15.12 -12.24 re
f
BT
10.079 0 0 10.079 95.73 628.8901 Tm
0 g
( )Tj
ET
0.934 g
111.09 639.21 267.36 -12.24 re
f
BT
/F13 1 Tf
10.079 0 0 10.079 111.09 629.3701 Tm
0 g
(Miscellaneous)Tj
ET
0.934 g
378.69 639.21 15.12 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 378.69 628.8901 Tm
0 g
( )Tj
ET
0.934 g
394.05 639.21 6.72 -12.24 re
f
BT
10.079 0 0 10.079 398.37 628.8901 Tm
0 g
( )Tj
ET
0.934 g
401.01 639.21 25.92 -12.24 re
f
BT
/F13 1 Tf
10.079 0 0 10.079 409.41 629.3701 Tm
0 g
(24.3)Tj
ET
0.934 g
427.17 639.21 10.8 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 427.17 628.8901 Tm
0 g
( )Tj
ET
0.934 g
438.21 639.21 15.12 -12.24 re
f
BT
10.079 0 0 10.079 438.21 628.8901 Tm
0 g
( )Tj
ET
0.934 g
453.57 639.21 15.6 -12.24 re
f
BT
10.079 0 0 10.079 466.77 628.8901 Tm
0 g
( )Tj
ET
0.934 g
469.41 639.21 25.92 -12.24 re
f
BT
/F13 1 Tf
10.079 0 0 10.079 477.81 629.3701 Tm
0 g
(20.9)Tj
ET
0.934 g
495.57 639.21 20.88 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 495.57 628.8901 Tm
0 g
( )Tj
-39.6704 -1.1192 TD
27.8241 Tc
[(  )26550.1( )]TJ
ET
0.5 g
401.01 621.45 25.92 -0.48 re
f
BT
10.079 0 0 10.079 427.17 617.61 Tm
0 g
0.8453 Tc
[(  )-428.7( )]TJ
ET
0.5 g
469.41 621.45 25.92 -0.48 re
f
BT
10.079 0 0 10.079 495.57 617.61 Tm
0 g
0 Tc
( )Tj
-39.6704 -1.2382 TD
1.274 Tc
(   )Tj
/F13 1 Tf
4.5719 0.0476 TD
-0.0001 Tc
0.0001 Tw
(TOTAL OTHER ASSETS)Tj
/F12 1 Tf
23.5022 -0.0476 TD
1.7026 Tc
0 Tw
(  )Tj
/F13 1 Tf
3.0479 0.0476 TD
0 Tc
(67.5)Tj
/F12 1 Tf
1.7621 -0.0476 TD
0.8453 Tc
[(  )-1738.3( )]TJ
/F13 1 Tf
5.0243 0.0476 TD
0 Tc
(67.0)Tj
/F12 1 Tf
1.7621 -0.0476 TD
( )Tj
-39.6704 -1.1192 TD
27.8241 Tc
[(  )26550.1( )]TJ
ET
0.5 g
401.01 597.69 25.92 -0.48 re
f
BT
10.079 0 0 10.079 427.17 593.85 Tm
0 g
0.8453 Tc
[(  )-428.7( )]TJ
ET
0.5 g
469.41 597.69 25.92 -0.48 re
f
BT
10.079 0 0 10.079 495.57 593.85 Tm
0 g
0 Tc
( )Tj
ET
0.934 g
95.73 591.69 15.12 -12.24 re
f
BT
10.079 0 0 10.079 95.73 581.3701 Tm
0 g
( )Tj
ET
0.934 g
111.09 591.69 15.12 -12.24 re
f
BT
10.079 0 0 10.079 111.09 581.3701 Tm
0 g
( )Tj
ET
0.934 g
126.45 591.69 15.12 -12.24 re
f
BT
10.079 0 0 10.079 126.45 581.3701 Tm
0 g
( )Tj
ET
0.934 g
141.81 591.69 236.64 -12.24 re
f
BT
/F13 1 Tf
10.079 0 0 10.079 141.81 581.85 Tm
0 g
-0.0001 Tc
0.0001 Tw
(TOTAL ASSETS)Tj
ET
0.934 g
378.69 591.69 15.12 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 378.69 581.3701 Tm
0 g
0 Tc
0 Tw
( )Tj
ET
0.934 g
394.05 591.69 6.72 -12.24 re
f
BT
/F13 1 Tf
10.079 0 0 10.079 395.97 581.85 Tm
0 g
($)Tj
ET
0.934 g
401.01 591.69 25.92 -12.24 re
f
BT
10.079 0 0 10.079 404.37 581.85 Tm
0 g
(889.2)Tj
ET
0.934 g
427.17 591.69 10.8 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 427.17 581.3701 Tm
0 g
( )Tj
ET
0.934 g
438.21 591.69 15.12 -12.24 re
f
BT
10.079 0 0 10.079 438.21 581.3701 Tm
0 g
( )Tj
ET
0.934 g
453.57 591.69 15.6 -12.24 re
f
BT
/F13 1 Tf
10.079 0 0 10.079 464.37 581.85 Tm
0 g
($)Tj
ET
0.934 g
469.41 591.69 25.92 -12.24 re
f
BT
10.079 0 0 10.079 472.77 581.85 Tm
0 g
(825.0)Tj
ET
0.934 g
495.57 591.69 20.88 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 495.57 581.3701 Tm
0 g
( )Tj
-39.6704 -1.1192 TD
27.8241 Tc
[(  )26550.1( )]TJ
ET
0.5 g
401.01 575.13 25.92 -2.88 re
f
BT
10.079 0 0 10.079 427.17 570.0901 Tm
0 g
0.8453 Tc
[(  )-428.7( )]TJ
ET
0.5 g
469.41 575.13 25.92 -2.88 re
f
BT
10.079 0 0 10.079 495.57 570.0901 Tm
0 g
0 Tc
( )Tj
-39.6704 -1.2382 TD
1.274 Tc
(    )Tj
/F13 1 Tf
6.0958 0.0476 TD
-0.0001 Tc
0.0001 Tw
(LIABILITIES AND SHAREHOLDERS)Tj
/F6 1 Tf
17.1684 0 TD
0 Tc
0 Tw
(’)Tj
/F13 1 Tf
0.333 0 TD
-0.0001 Tc
0.0001 Tw
( EQUITY)Tj
/F12 1 Tf
4.4769 -0.0476 TD
1.274 Tc
0 Tw
[(  )833.5( )-1071.5( )428.7(  )-47.6( )-1071.5( )]TJ
ET
0.934 g
95.73 555.45 282.72 -12.24 re
f
BT
/F13 1 Tf
10.079 0 0 10.079 95.73 545.61 Tm
0 g
-0.0001 Tc
0.0001 Tw
(CURRENT LIABILITIES)Tj
ET
0.934 g
378.69 555.45 15.12 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 378.69 545.1301 Tm
0 g
0 Tc
0 Tw
( )Tj
ET
0.934 g
394.05 555.45 6.72 -12.24 re
f
BT
10.079 0 0 10.079 394.05 545.1301 Tm
0 g
( )Tj
ET
0.934 g
401.01 555.45 25.92 -12.24 re
f
BT
10.079 0 0 10.079 401.01 545.1301 Tm
0 g
( )Tj
ET
0.934 g
427.17 555.45 10.8 -12.24 re
f
BT
10.079 0 0 10.079 427.17 545.1301 Tm
0 g
( )Tj
ET
0.934 g
438.21 555.45 15.12 -12.24 re
f
BT
10.079 0 0 10.079 438.21 545.1301 Tm
0 g
( )Tj
ET
0.934 g
453.57 555.45 15.6 -12.24 re
f
BT
10.079 0 0 10.079 453.57 545.1301 Tm
0 g
( )Tj
ET
0.934 g
469.41 555.45 25.92 -12.24 re
f
BT
10.079 0 0 10.079 469.41 545.1301 Tm
0 g
( )Tj
ET
0.934 g
495.57 555.45 20.88 -12.24 re
f
BT
10.079 0 0 10.079 495.57 545.1301 Tm
0 g
( )Tj
-39.6704 -1.2382 TD
( )Tj
/F13 1 Tf
1.524 0.0476 TD
(Borrowings under revolving credit facility)Tj
/F12 1 Tf
26.5501 -0.0476 TD
( )Tj
/F13 1 Tf
1.7145 0.0476 TD
[($)-333.4(100.0)]TJ
/F12 1 Tf
3.0955 -0.0476 TD
0.8453 Tc
(  )Tj
/F13 1 Tf
3.6908 0.0476 TD
0 Tc
[($)-333.4(100.0)]TJ
/F12 1 Tf
3.0955 -0.0476 TD
( )Tj
ET
0.934 g
95.73 530.49 15.12 -12.24 re
f
BT
10.079 0 0 10.079 95.73 520.17 Tm
0 g
( )Tj
ET
0.934 g
111.09 530.49 267.36 -12.24 re
f
BT
/F13 1 Tf
10.079 0 0 10.079 111.09 520.6501 Tm
0 g
(Environmental and closure obligations)Tj
ET
0.934 g
378.69 530.49 15.12 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 378.69 520.17 Tm
0 g
( )Tj
ET
0.934 g
394.05 530.49 6.72 -12.24 re
f
BT
10.079 0 0 10.079 398.37 520.17 Tm
0 g
( )Tj
ET
0.934 g
401.01 530.49 25.92 -12.24 re
f
BT
/F13 1 Tf
10.079 0 0 10.079 414.45 520.6501 Tm
0 g
(8.9)Tj
ET
0.934 g
427.17 530.49 10.8 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 427.17 520.17 Tm
0 g
( )Tj
ET
0.934 g
438.21 530.49 15.12 -12.24 re
f
BT
10.079 0 0 10.079 438.21 520.17 Tm
0 g
( )Tj
ET
0.934 g
453.57 530.49 15.6 -12.24 re
f
BT
10.079 0 0 10.079 466.77 520.17 Tm
0 g
( )Tj
ET
0.934 g
469.41 530.49 25.92 -12.24 re
f
BT
/F13 1 Tf
10.079 0 0 10.079 482.85 520.6501 Tm
0 g
(9.1)Tj
ET
0.934 g
495.57 530.49 20.88 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 495.57 520.17 Tm
0 g
( )Tj
-39.6704 -1.2382 TD
( )Tj
/F13 1 Tf
1.524 0.0476 TD
(Accounts payable and accrued expenses)Tj
/F12 1 Tf
26.5501 -0.0476 TD
1.7026 Tc
(  )Tj
/F13 1 Tf
2.5479 0.0476 TD
0 Tc
(105.9)Tj
/F12 1 Tf
2.2621 -0.0476 TD
0.8453 Tc
[(  )-1738.3( )]TJ
/F13 1 Tf
5.0243 0.0476 TD
0 Tc
(80.7)Tj
/F12 1 Tf
1.7621 -0.0476 TD
( )Tj
-39.6704 -1.1192 TD
27.8241 Tc
[(  )26550.1( )]TJ
ET
0.5 g
401.01 500.25 25.92 -0.48 re
f
BT
10.079 0 0 10.079 427.17 496.4101 Tm
0 g
0.8453 Tc
[(  )-428.7( )]TJ
ET
0.5 g
469.41 500.25 25.92 -0.48 re
f
BT
10.079 0 0 10.079 495.57 496.4101 Tm
0 g
0 Tc
( )Tj
ET
0.934 g
95.73 494.25 15.12 -12.24 re
f
BT
10.079 0 0 10.079 95.73 483.9301 Tm
0 g
( )Tj
ET
0.934 g
111.09 494.25 15.12 -12.24 re
f
BT
10.079 0 0 10.079 111.09 483.9301 Tm
0 g
( )Tj
ET
0.934 g
126.45 494.25 15.12 -12.24 re
f
BT
10.079 0 0 10.079 126.45 483.9301 Tm
0 g
( )Tj
ET
0.934 g
141.81 494.25 236.64 -12.24 re
f
BT
/F13 1 Tf
10.079 0 0 10.079 141.81 484.4101 Tm
0 g
-0.0001 Tc
0.0001 Tw
(TOTAL CURRENT LIABILITIES)Tj
ET
0.934 g
378.69 494.25 15.12 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 378.69 483.9301 Tm
0 g
0 Tc
0 Tw
( )Tj
ET
0.934 g
394.05 494.25 6.72 -12.24 re
f
BT
10.079 0 0 10.079 398.37 483.9301 Tm
0 g
( )Tj
ET
0.934 g
401.01 494.25 25.92 -12.24 re
f
BT
/F13 1 Tf
10.079 0 0 10.079 404.37 484.4101 Tm
0 g
(214.8)Tj
ET
0.934 g
427.17 494.25 10.8 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 427.17 483.9301 Tm
0 g
( )Tj
ET
0.934 g
438.21 494.25 15.12 -12.24 re
f
BT
10.079 0 0 10.079 438.21 483.9301 Tm
0 g
( )Tj
ET
0.934 g
453.57 494.25 15.6 -12.24 re
f
BT
10.079 0 0 10.079 466.77 483.9301 Tm
0 g
( )Tj
ET
0.934 g
469.41 494.25 25.92 -12.24 re
f
BT
/F13 1 Tf
10.079 0 0 10.079 472.77 484.4101 Tm
0 g
(189.8)Tj
ET
0.934 g
495.57 494.25 20.88 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 495.57 483.9301 Tm
0 g
( )Tj
/F13 1 Tf
-39.6704 -1.1906 TD
-0.0001 Tc
0.0001 Tw
(LONG-TERM DEBT)Tj
/F12 1 Tf
28.0741 -0.0476 TD
1.7026 Tc
0 Tw
(  )Tj
/F13 1 Tf
3.0479 0.0476 TD
0 Tc
(70.0)Tj
/F12 1 Tf
1.7621 -0.0476 TD
0.8453 Tc
[(  )-1738.3( )]TJ
/F13 1 Tf
5.0243 0.0476 TD
0 Tc
(70.0)Tj
/F12 1 Tf
1.7621 -0.0476 TD
( )Tj
ET
0.934 g
95.73 469.29 282.72 -12.24 re
f
BT
/F13 1 Tf
10.079 0 0 10.079 95.73 459.4501 Tm
0 g
-0.0001 Tc
0.0001 Tw
(POSTEMPLOYMENT BENEFIT LIABILITIES)Tj
ET
0.934 g
378.69 469.29 15.12 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 378.69 458.9701 Tm
0 g
0 Tc
0 Tw
( )Tj
ET
0.934 g
394.05 469.29 6.72 -12.24 re
f
BT
10.079 0 0 10.079 398.37 458.9701 Tm
0 g
( )Tj
ET
0.934 g
401.01 469.29 25.92 -12.24 re
f
BT
/F13 1 Tf
10.079 0 0 10.079 409.41 459.4501 Tm
0 g
(91.9)Tj
ET
0.934 g
427.17 469.29 10.8 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 427.17 458.9701 Tm
0 g
( )Tj
ET
0.934 g
438.21 469.29 15.12 -12.24 re
f
BT
10.079 0 0 10.079 438.21 458.9701 Tm
0 g
( )Tj
ET
0.934 g
453.57 469.29 15.6 -12.24 re
f
BT
10.079 0 0 10.079 466.77 458.9701 Tm
0 g
( )Tj
ET
0.934 g
469.41 469.29 25.92 -12.24 re
f
BT
/F13 1 Tf
10.079 0 0 10.079 477.81 459.4501 Tm
0 g
(69.2)Tj
ET
0.934 g
495.57 469.29 20.88 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 495.57 458.9701 Tm
0 g
( )Tj
/F13 1 Tf
-39.6704 -1.1906 TD
-0.0001 Tc
0.0001 Tw
(ENVIRONMENTAL AND CLOSURE)Tj
/F12 1 Tf
28.0741 -0.0476 TD
1.7026 Tc
0 Tw
(  )Tj
/F13 1 Tf
3.0479 0.0476 TD
0 Tc
(59.4)Tj
/F12 1 Tf
1.7621 -0.0476 TD
0.8453 Tc
[(  )-1738.3( )]TJ
/F13 1 Tf
5.0243 0.0476 TD
0 Tc
(59.2)Tj
/F12 1 Tf
1.7621 -0.0476 TD
( )Tj
ET
0.934 g
95.73 444.33 282.72 -12.24 re
f
BT
/F13 1 Tf
10.079 0 0 10.079 95.73 434.4901 Tm
0 g
-0.0001 Tc
0.0001 Tw
(OTHER LIABILITIES)Tj
ET
0.934 g
378.69 444.33 15.12 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 378.69 434.0101 Tm
0 g
0 Tc
0 Tw
( )Tj
ET
0.934 g
394.05 444.33 6.72 -12.24 re
f
BT
10.079 0 0 10.079 398.37 434.0101 Tm
0 g
( )Tj
ET
0.934 g
401.01 444.33 25.92 -12.24 re
f
BT
/F13 1 Tf
10.079 0 0 10.079 409.41 434.4901 Tm
0 g
(35.9)Tj
ET
0.934 g
427.17 444.33 10.8 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 427.17 434.0101 Tm
0 g
( )Tj
ET
0.934 g
438.21 444.33 15.12 -12.24 re
f
BT
10.079 0 0 10.079 438.21 434.0101 Tm
0 g
( )Tj
ET
0.934 g
453.57 444.33 15.6 -12.24 re
f
BT
10.079 0 0 10.079 466.77 434.0101 Tm
0 g
( )Tj
ET
0.934 g
469.41 444.33 25.92 -12.24 re
f
BT
/F13 1 Tf
10.079 0 0 10.079 477.81 434.4901 Tm
0 g
(36.7)Tj
ET
0.934 g
495.57 444.33 20.88 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 495.57 434.0101 Tm
0 g
( )Tj
-39.6704 -1.1192 TD
27.8241 Tc
[(  )26550.1( )]TJ
ET
0.5 g
401.01 426.57 25.92 -0.48 re
f
BT
10.079 0 0 10.079 427.17 422.7301 Tm
0 g
0.8453 Tc
[(  )-428.7( )]TJ
ET
0.5 g
469.41 426.57 25.92 -0.48 re
f
BT
10.079 0 0 10.079 495.57 422.7301 Tm
0 g
0 Tc
( )Tj
-39.6704 -1.2382 TD
27.8241 Tc
[(  )26121.5( )]TJ
/F13 1 Tf
30.622 0.0476 TD
0 Tc
(472.0)Tj
/F12 1 Tf
2.2621 -0.0476 TD
0.8453 Tc
[(  )-1738.3( )]TJ
/F13 1 Tf
4.5242 0.0476 TD
0 Tc
(424.9)Tj
/F12 1 Tf
2.2621 -0.0476 TD
( )Tj
ET
0.934 g
95.73 408.09 282.72 -12.24 re
f
BT
/F13 1 Tf
10.079 0 0 10.079 95.73 398.2501 Tm
0 g
-0.0001 Tc
0.0001 Tw
(MINORITY INTEREST)Tj
ET
0.934 g
378.69 408.09 15.12 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 378.69 397.7701 Tm
0 g
0 Tc
0 Tw
( )Tj
ET
0.934 g
394.05 408.09 6.72 -12.24 re
f
BT
10.079 0 0 10.079 394.05 397.7701 Tm
0 g
( )Tj
ET
0.934 g
401.01 408.09 25.92 -12.24 re
f
BT
10.079 0 0 10.079 401.01 397.7701 Tm
0 g
( )Tj
ET
0.934 g
427.17 408.09 10.8 -12.24 re
f
BT
10.079 0 0 10.079 427.17 397.7701 Tm
0 g
( )Tj
ET
0.934 g
438.21 408.09 15.12 -12.24 re
f
BT
10.079 0 0 10.079 438.21 397.7701 Tm
0 g
( )Tj
ET
0.934 g
453.57 408.09 15.6 -12.24 re
f
BT
10.079 0 0 10.079 453.57 397.7701 Tm
0 g
( )Tj
ET
0.934 g
469.41 408.09 25.92 -12.24 re
f
BT
10.079 0 0 10.079 469.41 397.7701 Tm
0 g
( )Tj
ET
0.934 g
495.57 408.09 20.88 -12.24 re
f
BT
10.079 0 0 10.079 495.57 397.7701 Tm
0 g
( )Tj
-39.6704 -1.2382 TD
( )Tj
/F13 1 Tf
1.524 0.0476 TD
(Cliffs and Associates Limited)Tj
/F12 1 Tf
26.5501 -0.0476 TD
1.7026 Tc
(  )Tj
/F13 1 Tf
3.0479 0.0476 TD
0 Tc
(25.8)Tj
/F12 1 Tf
1.7621 -0.0476 TD
0.8453 Tc
[(  )-1738.3( )]TJ
/F13 1 Tf
5.0243 0.0476 TD
0 Tc
(25.9)Tj
/F12 1 Tf
1.7621 -0.0476 TD
( )Tj
ET
0.934 g
95.73 383.13 15.12 -12.24 re
f
BT
10.079 0 0 10.079 95.73 372.8101 Tm
0 g
( )Tj
ET
0.934 g
111.09 383.13 267.36 -12.24 re
f
BT
/F13 1 Tf
10.079 0 0 10.079 111.09 373.2901 Tm
0 g
(Tilden Mining Company L.C)Tj
ET
0.934 g
378.69 383.13 15.12 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 378.69 372.8101 Tm
0 g
( )Tj
ET
0.934 g
394.05 383.13 6.72 -12.24 re
f
BT
10.079 0 0 10.079 398.37 372.8101 Tm
0 g
( )Tj
ET
0.934 g
401.01 383.13 25.92 -12.24 re
f
BT
/F13 1 Tf
10.079 0 0 10.079 409.41 373.2901 Tm
0 g
(28.8)Tj
ET
0.934 g
427.17 383.13 10.8 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 427.17 372.8101 Tm
0 g
( )Tj
ET
0.934 g
438.21 383.13 15.12 -12.24 re
f
BT
10.079 0 0 10.079 438.21 372.8101 Tm
0 g
( )Tj
ET
0.934 g
453.57 383.13 15.6 -12.24 re
f
BT
10.079 0 0 10.079 453.57 372.8101 Tm
0 g
( )Tj
ET
0.934 g
469.41 383.13 25.92 -12.24 re
f
BT
10.079 0 0 10.079 469.41 372.8101 Tm
0 g
( )Tj
ET
0.934 g
495.57 383.13 20.88 -12.24 re
f
BT
10.079 0 0 10.079 495.57 372.8101 Tm
0 g
( )Tj
/F13 1 Tf
-39.6704 -1.1906 TD
-0.0001 Tc
(SHAREHOLDERS)Tj
/F6 1 Tf
8.3342 0 TD
0 Tc
(’)Tj
/F13 1 Tf
0.333 0 TD
-0.0001 Tc
0.0001 Tw
( EQUITY)Tj
/F12 1 Tf
19.4069 -0.0476 TD
1.274 Tc
0 Tw
[(  )833.5( )-1071.5( )428.7(  )-47.6( )-1071.5( )]TJ
ET
0.934 g
95.73 358.17 15.12 -74.64 re
f
BT
10.079 0 0 10.079 95.73 285.4501 Tm
0 g
0 Tc
( )Tj
ET
0.934 g
111.09 358.17 267.36 -74.64 re
f
BT
/F13 1 Tf
10.079 0 0 10.079 111.09 348.3301 Tm
0 g
(Preferred Stock Class)Tj
0.7382 -1.2382 TD
(A - 500,000 shares authorized and unissued)Tj
T*
(Class B - 4,000,000 shares authorized and unissued)Tj
T*
(Common Shares )Tj
/F6 1 Tf
7.3323 0 TD
(—)Tj
/F13 1 Tf
0.9999 0 TD
( par value $1 a share)Tj
-8.3322 -1.2382 TD
(Authorized - 28,000,000 shares;)Tj
T*
(Issued - 16,827,941 shares)Tj
ET
0.934 g
378.69 358.17 15.12 -74.64 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 378.69 285.4501 Tm
0 g
( )Tj
ET
0.934 g
394.05 358.17 6.72 -74.64 re
f
BT
10.079 0 0 10.079 398.37 285.4501 Tm
0 g
( )Tj
ET
0.934 g
401.01 358.17 25.92 -74.64 re
f
BT
/F13 1 Tf
10.079 0 0 10.079 409.41 285.9301 Tm
0 g
(16.8)Tj
ET
0.934 g
427.17 358.17 10.8 -74.64 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 427.17 285.4501 Tm
0 g
( )Tj
ET
0.934 g
438.21 358.17 15.12 -74.64 re
f
BT
10.079 0 0 10.079 438.21 285.4501 Tm
0 g
( )Tj
ET
0.934 g
453.57 358.17 15.6 -74.64 re
f
BT
10.079 0 0 10.079 466.77 285.4501 Tm
0 g
( )Tj
ET
0.934 g
469.41 358.17 25.92 -74.64 re
f
BT
/F13 1 Tf
10.079 0 0 10.079 477.81 285.9301 Tm
0 g
(16.8)Tj
ET
0.934 g
495.57 358.17 20.88 -74.64 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 495.57 285.4501 Tm
0 g
( )Tj
-39.6704 -1.2382 TD
( )Tj
/F13 1 Tf
1.524 0.0476 TD
(Capital in excess of par value of shares)Tj
/F12 1 Tf
26.5501 -0.0476 TD
1.7026 Tc
(  )Tj
/F13 1 Tf
3.0479 0.0476 TD
0 Tc
(70.0)Tj
/F12 1 Tf
1.7621 -0.0476 TD
0.8453 Tc
[(  )-1738.3( )]TJ
/F13 1 Tf
5.0243 0.0476 TD
0 Tc
(66.2)Tj
/F12 1 Tf
1.7621 -0.0476 TD
( )Tj
ET
0.934 g
95.73 270.81 15.12 -12.24 re
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BT
10.079 0 0 10.079 95.73 260.4901 Tm
0 g
( )Tj
ET
0.934 g
111.09 270.81 267.36 -12.24 re
f
BT
/F13 1 Tf
10.079 0 0 10.079 111.09 260.9701 Tm
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(Retained income)Tj
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0.934 g
378.69 270.81 15.12 -12.24 re
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BT
/F12 1 Tf
10.079 0 0 10.079 378.69 260.4901 Tm
0 g
( )Tj
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0.934 g
394.05 270.81 6.72 -12.24 re
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BT
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0.934 g
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BT
/F13 1 Tf
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(463.9)Tj
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0.934 g
427.17 270.81 10.8 -12.24 re
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BT
/F12 1 Tf
10.079 0 0 10.079 427.17 260.4901 Tm
0 g
( )Tj
ET
0.934 g
438.21 270.81 15.12 -12.24 re
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BT
10.079 0 0 10.079 438.21 260.4901 Tm
0 g
( )Tj
ET
0.934 g
453.57 270.81 15.6 -12.24 re
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BT
10.079 0 0 10.079 466.77 260.4901 Tm
0 g
( )Tj
ET
0.934 g
469.41 270.81 25.92 -12.24 re
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BT
/F13 1 Tf
10.079 0 0 10.079 472.77 260.9701 Tm
0 g
(476.7)Tj
ET
0.934 g
495.57 270.81 20.88 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 495.57 260.4901 Tm
0 g
( )Tj
-39.6704 -1.2382 TD
( )Tj
/F13 1 Tf
1.524 0.0476 TD
(Accumulated other comprehensive loss, net of tax)Tj
/F12 1 Tf
26.5501 -0.0476 TD
1.7026 Tc
(  )Tj
/F13 1 Tf
3.2146 0.0476 TD
0 Tc
[(\(1.0)-12.5(\))]TJ
/F12 1 Tf
2.6907 -0.0476 TD
2.5836 Tc
(  )Tj
/F13 1 Tf
4.0956 0.0476 TD
0 Tc
[(\(1.0)-12.5(\))]TJ
ET
0.934 g
95.73 245.85 15.12 -24.72 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 95.73 223.0501 Tm
0 g
( )Tj
ET
0.934 g
111.09 245.85 267.36 -24.72 re
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BT
/F13 1 Tf
10.079 0 0 10.079 111.09 236.0101 Tm
0 g
(Cost of 6,646,824 Common Shares in treasury)Tj
0.7382 -1.2382 TD
(\(2001 - 6,685,988 shares\))Tj
ET
0.934 g
378.69 245.85 15.12 -24.72 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 378.69 223.0501 Tm
0 g
( )Tj
ET
0.934 g
394.05 245.85 6.72 -24.72 re
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BT
10.079 0 0 10.079 398.37 223.0501 Tm
0 g
( )Tj
ET
0.934 g
401.01 245.85 25.92 -24.72 re
f
BT
/F13 1 Tf
10.079 0 0 10.079 401.01 223.5301 Tm
0 g
(\(182.3)Tj
ET
0.934 g
427.17 245.85 10.8 -24.72 re
f
BT
10.079 0 0 10.079 427.17 223.5301 Tm
0 g
(\))Tj
ET
0.934 g
438.21 245.85 15.12 -24.72 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 438.21 223.0501 Tm
0 g
( )Tj
ET
0.934 g
453.57 245.85 15.6 -24.72 re
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BT
10.079 0 0 10.079 466.77 223.0501 Tm
0 g
( )Tj
ET
0.934 g
469.41 245.85 25.92 -24.72 re
f
BT
/F13 1 Tf
10.079 0 0 10.079 469.41 223.5301 Tm
0 g
(\(183.3)Tj
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0.934 g
495.57 245.85 20.88 -24.72 re
f
BT
10.079 0 0 10.079 495.57 223.5301 Tm
0 g
(\))Tj
/F12 1 Tf
-39.6704 -1.2858 TD
( )Tj
/F13 1 Tf
1.524 0.0476 TD
(Unearned compensation)Tj
/F12 1 Tf
26.5501 -0.0476 TD
1.7026 Tc
(  )Tj
/F13 1 Tf
3.2146 0.0476 TD
0 Tc
[(\(4.8)-12.5(\))]TJ
/F12 1 Tf
2.6907 -0.0476 TD
2.5836 Tc
(  )Tj
/F13 1 Tf
4.0956 0.0476 TD
0 Tc
[(\(1.2)-12.5(\))]TJ
/F12 1 Tf
-38.0751 -1.1668 TD
27.8241 Tc
[(  )26550.1( )]TJ
ET
0.5 g
401.01 203.13 25.92 -0.48 re
f
BT
10.079 0 0 10.079 427.17 199.2901 Tm
0 g
0.8453 Tc
[(  )-428.7( )]TJ
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0.5 g
469.41 203.13 25.92 -0.48 re
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BT
10.079 0 0 10.079 495.57 199.2901 Tm
0 g
0 Tc
( )Tj
ET
0.934 g
95.73 197.13 15.12 -12.24 re
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BT
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0 g
( )Tj
ET
0.934 g
111.09 197.13 15.12 -12.24 re
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BT
10.079 0 0 10.079 111.09 186.8101 Tm
0 g
( )Tj
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0.934 g
126.45 197.13 15.12 -12.24 re
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BT
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0.934 g
141.81 197.13 236.64 -12.24 re
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-0.0001 Tc
0.0001 Tw
(TOTAL SHAREHOLDERS)Tj
/F6 1 Tf
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(’)Tj
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-0.0001 Tc
0.0001 Tw
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0.934 g
378.69 197.13 15.12 -12.24 re
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BT
/F12 1 Tf
10.079 0 0 10.079 378.69 186.8101 Tm
0 g
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( )Tj
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0.934 g
394.05 197.13 6.72 -12.24 re
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BT
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( )Tj
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0.934 g
401.01 197.13 25.92 -12.24 re
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BT
/F13 1 Tf
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(362.6)Tj
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0.934 g
427.17 197.13 10.8 -12.24 re
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0.934 g
438.21 197.13 15.12 -12.24 re
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BT
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( )Tj
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0.934 g
453.57 197.13 15.6 -12.24 re
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BT
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0 g
( )Tj
ET
0.934 g
469.41 197.13 25.92 -12.24 re
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BT
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10.079 0 0 10.079 472.77 187.2901 Tm
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(374.2)Tj
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0.934 g
495.57 197.13 20.88 -12.24 re
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BT
/F12 1 Tf
10.079 0 0 10.079 495.57 186.8101 Tm
0 g
( )Tj
-39.6704 -1.1192 TD
27.8241 Tc
[(  )26550.1( )]TJ
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0.5 g
401.01 179.37 25.92 -0.48 re
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BT
10.079 0 0 10.079 427.17 175.5301 Tm
0 g
0.8453 Tc
[(  )-428.7( )]TJ
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0.5 g
469.41 179.37 25.92 -0.48 re
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BT
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0 g
0 Tc
( )Tj
-39.6704 -2.4764 TD
1.274 Tc
(   )Tj
/F13 1 Tf
4.5719 1.2858 TD
-0.0001 Tc
0.0001 Tw
(TOTAL LIABILITIES AND SHAREHOLDERS)Tj
/F6 1 Tf
20.9191 0 TD
0 Tc
0 Tw
(’)Tj
/F13 1 Tf
0.333 0 TD
( )Tj
-20.5139 -1.2382 TD
-0.0001 Tc
(EQUITY)Tj
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22.7641 -0.0476 TD
0 Tc
( )Tj
/F13 1 Tf
1.7145 0.0476 TD
[($)-333.4(889.2)]TJ
/F12 1 Tf
3.0955 -0.0476 TD
0.8453 Tc
(  )Tj
/F13 1 Tf
3.6908 0.0476 TD
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[($)-333.4(825.0)]TJ
/F12 1 Tf
3.0955 -0.0476 TD
( )Tj
-39.6704 -1.1192 TD
27.8241 Tc
[(  )26550.1( )]TJ
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0.5 g
401.01 144.33 25.92 -2.88 re
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BT
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0 g
0.8453 Tc
[(  )-428.7( )]TJ
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0.5 g
469.41 144.33 25.92 -2.88 re
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BT
10.079 0 0 10.079 495.57 139.2901 Tm
0 g
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( )Tj
/F13 1 Tf
-46.6235 -2.5955 TD
(See notes to consolidated financial statements.)Tj
/F12 1 Tf
27.5741 -2.7384 TD
(3)Tj
ET
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0.97 Tc
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[(    )-20340(  )560( )-680( )220( )-440( )560( )-540( )]TJ
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1.718 Tc
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( )Tj
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6.2589 0.0323 TD
(\(In Millions,)Tj
/F12 1 Tf
-46.9415 -1.2582 TD
1.718 Tc
(    )Tj
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( )Tj
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5.1297 0.0323 TD
(Brackets Indicate)Tj
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-45.8124 -1.2582 TD
1.718 Tc
(    )Tj
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( )Tj
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5.6136 0.0323 TD
(Cash Decrease\))Tj
/F12 1 Tf
-46.2963 -1.2582 TD
1.718 Tc
(    )Tj
40.6827 0 TD
0 Tc
( )Tj
/F13 1 Tf
4.3554 0.0323 TD
(Three Months Ended)Tj
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-45.0381 -1.2582 TD
1.718 Tc
(    )Tj
40.6827 0 TD
0 Tc
( )Tj
/F13 1 Tf
6.8396 0.0323 TD
(March 31)Tj
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-47.5223 -1.1614 TD
1.718 Tc
(    )Tj
40.6827 0 TD
0 Tc
( )Tj
ET
0.5 g
413.01 858.09 103.44 -0.48 re
f
BT
7.439 0 0 7.439 95.73 848.25 Tm
0 g
1.718 Tc
(    )Tj
40.6827 0 TD
0 Tc
( )Tj
/F13 1 Tf
3.8069 0.0323 TD
(2002)Tj
/F12 1 Tf
3.9037 -0.0323 TD
( )Tj
/F13 1 Tf
4.3877 0.0323 TD
(2001)Tj
/F12 1 Tf
-52.781 -1.1614 TD
1.718 Tc
(    )Tj
40.6827 0 TD
0 Tc
( )Tj
ET
0.5 g
413.01 840.57 42.48 -0.48 re
f
BT
7.439 0 0 7.439 455.73 839.85 Tm
0 g
( )Tj
ET
0.5 g
475.65 840.57 40.8 -0.48 re
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0.934 g
95.73 838.17 302.4 -12.24 re
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BT
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0.934 g
413.01 838.17 7.68 -12.24 re
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BT
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( )Tj
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0.934 g
420.93 838.17 22.56 -12.24 re
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BT
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( )Tj
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0.934 g
443.73 838.17 11.76 -12.24 re
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BT
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0 g
( )Tj
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0.934 g
455.73 838.17 19.68 -12.24 re
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BT
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0 g
( )Tj
ET
0.934 g
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BT
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( )Tj
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0.934 g
483.57 838.17 20.88 -12.24 re
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( )Tj
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0.934 g
504.69 838.17 11.76 -12.24 re
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BT
10.079 0 0 10.079 504.69 827.85 Tm
0 g
( )Tj
-40.5753 -1.2382 TD
( )Tj
/F13 1 Tf
1.4525 0.0476 TD
(Net loss)Tj
/F12 1 Tf
28.5742 -0.0476 TD
( )Tj
/F13 1 Tf
1.7383 0.0476 TD
[($)-166.7(\(12.8)-12.6(\))]TJ
/F12 1 Tf
3.9528 -0.0476 TD
( )Tj
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2.2621 0.0476 TD
[($)-1000.1(\(.3)-12.4(\))]TJ
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0.934 g
95.73 813.21 14.4 -12.24 re
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BT
/F12 1 Tf
10.079 0 0 10.079 95.73 802.89 Tm
0 g
( )Tj
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0.934 g
110.37 813.21 287.76 -12.24 re
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0.934 g
398.37 813.21 14.4 -12.24 re
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BT
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0.934 g
413.01 813.21 7.68 -12.24 re
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BT
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( )Tj
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0.934 g
420.93 813.21 22.56 -12.24 re
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BT
10.079 0 0 10.079 420.93 802.89 Tm
0 g
( )Tj
ET
0.934 g
443.73 813.21 11.76 -12.24 re
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BT
10.079 0 0 10.079 443.73 802.89 Tm
0 g
( )Tj
ET
0.934 g
455.73 813.21 19.68 -12.24 re
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BT
10.079 0 0 10.079 455.73 802.89 Tm
0 g
( )Tj
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0.934 g
475.65 813.21 7.68 -12.24 re
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0.934 g
483.57 813.21 20.88 -12.24 re
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10.079 0 0 10.079 483.57 802.89 Tm
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( )Tj
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0.934 g
504.69 813.21 11.76 -12.24 re
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BT
10.079 0 0 10.079 504.69 802.89 Tm
0 g
( )Tj
-40.5753 -1.2382 TD
1.2025 Tc
(  )Tj
/F13 1 Tf
2.905 0.0476 TD
0 Tc
(Consolidated)Tj
/F12 1 Tf
27.1216 -0.0476 TD
1.7264 Tc
(  )Tj
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3.2384 0.0476 TD
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(5.6)Tj
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1.262 -0.0476 TD
0.9406 Tc
[(  )-1309.6( )]TJ
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4.7862 0.0476 TD
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(3.8)Tj
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0.934 g
95.73 788.25 14.4 -12.24 re
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BT
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0 g
( )Tj
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0.934 g
110.37 788.25 14.4 -12.24 re
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BT
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( )Tj
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0.934 g
455.73 788.25 19.68 -12.24 re
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( )Tj
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0.934 g
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( )Tj
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504.69 788.25 11.76 -12.24 re
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BT
/F12 1 Tf
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( )Tj
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( )Tj
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(Deferred income taxes)Tj
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28.5742 -0.0476 TD
1.7264 Tc
(  )Tj
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3.2384 0.0476 TD
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(2.8)Tj
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1.262 -0.0476 TD
0.9406 Tc
[(  )-1309.6( )]TJ
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4.4528 0.0476 TD
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[(\(1.5)-12.5(\))]TJ
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95.73 763.29 14.4 -12.24 re
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BT
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(Minority interest in Cliffs and Associates Limited)Tj
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BT
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BT
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ET
0.934 g
475.65 763.29 7.68 -12.24 re
f
BT
10.079 0 0 10.079 480.93 752.97 Tm
0 g
( )Tj
ET
0.934 g
483.57 763.29 20.88 -12.24 re
f
BT
/F13 1 Tf
10.079 0 0 10.079 488.61 753.4501 Tm
0 g
(\(1.2)Tj
ET
0.934 g
504.69 763.29 11.76 -12.24 re
f
BT
10.079 0 0 10.079 504.69 753.4501 Tm
0 g
(\))Tj
/F12 1 Tf
-40.5753 -1.2858 TD
( )Tj
/F13 1 Tf
1.4525 0.0476 TD
(Gain on sale of assets)Tj
/F12 1 Tf
28.5742 -0.0476 TD
1.7264 Tc
(  )Tj
/F13 1 Tf
2.905 0.0476 TD
0 Tc
[(\(2.5)-12.5(\))]TJ
/F12 1 Tf
2.786 -0.0476 TD
2.2502 Tc
(  )Tj
/F13 1 Tf
3.2622 0.0476 TD
0 Tc
[(\(1.4)-12.5(\))]TJ
ET
0.934 g
95.73 738.33 14.4 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 95.73 728.0101 Tm
0 g
( )Tj
ET
0.934 g
110.37 738.33 287.76 -12.24 re
f
BT
/F13 1 Tf
10.079 0 0 10.079 110.37 728.4901 Tm
0 g
(Cumulative effect of accounting change )Tj
/F6 1 Tf
17.0795 0 TD
(—)Tj
/F13 1 Tf
0.9999 0 TD
( net of $5.0 tax)Tj
ET
0.934 g
398.37 738.33 14.4 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 398.37 728.0101 Tm
0 g
( )Tj
ET
0.934 g
413.01 738.33 7.68 -12.24 re
f
BT
10.079 0 0 10.079 413.01 728.0101 Tm
0 g
( )Tj
ET
0.934 g
420.93 738.33 22.56 -12.24 re
f
BT
10.079 0 0 10.079 420.93 728.0101 Tm
0 g
( )Tj
ET
0.934 g
443.73 738.33 11.76 -12.24 re
f
BT
10.079 0 0 10.079 443.73 728.0101 Tm
0 g
( )Tj
ET
0.934 g
455.73 738.33 19.68 -12.24 re
f
BT
10.079 0 0 10.079 455.73 728.0101 Tm
0 g
( )Tj
ET
0.934 g
475.65 738.33 7.68 -12.24 re
f
BT
10.079 0 0 10.079 480.93 728.0101 Tm
0 g
( )Tj
ET
0.934 g
483.57 738.33 20.88 -12.24 re
f
BT
/F13 1 Tf
10.079 0 0 10.079 488.61 728.4901 Tm
0 g
(\(9.3)Tj
ET
0.934 g
504.69 738.33 11.76 -12.24 re
f
BT
10.079 0 0 10.079 504.69 728.4901 Tm
0 g
(\))Tj
/F12 1 Tf
-40.5753 -1.2858 TD
( )Tj
/F13 1 Tf
1.4525 0.0476 TD
-0.0001 Tc
(Other)Tj
/F12 1 Tf
28.5742 -0.0476 TD
1.7264 Tc
(  )Tj
/F13 1 Tf
2.905 0.0476 TD
0 Tc
[(\(3.3)-12.5(\))]TJ
/F12 1 Tf
2.786 -0.0476 TD
2.2502 Tc
(  )Tj
/F13 1 Tf
3.5956 0.0476 TD
0 Tc
(1.1)Tj
/F12 1 Tf
1.262 -0.0476 TD
( )Tj
-40.5753 -1.1192 TD
29.7767 Tc
[(  )28574.2( )]TJ
ET
0.5 g
420.93 708.09 22.56 -0.48 re
f
BT
10.079 0 0 10.079 443.73 704.2501 Tm
0 g
0.9406 Tc
[(  )-785.8( )]TJ
ET
0.5 g
483.57 708.09 20.88 -0.48 re
f
BT
10.079 0 0 10.079 504.69 704.2501 Tm
0 g
0 Tc
( )Tj
ET
0.934 g
95.73 702.09 14.4 -12.24 re
f
BT
10.079 0 0 10.079 95.73 691.7701 Tm
0 g
( )Tj
ET
0.934 g
110.37 702.09 14.4 -12.24 re
f
BT
10.079 0 0 10.079 110.37 691.7701 Tm
0 g
( )Tj
ET
0.934 g
125.01 702.09 273.12 -12.24 re
f
BT
/F13 1 Tf
10.079 0 0 10.079 125.01 692.2501 Tm
0 g
(Total before changes in operating assets and liabilities)Tj
ET
0.934 g
398.37 702.09 14.4 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 398.37 691.7701 Tm
0 g
( )Tj
ET
0.934 g
413.01 702.09 7.68 -12.24 re
f
BT
10.079 0 0 10.079 418.29 691.7701 Tm
0 g
( )Tj
ET
0.934 g
420.93 702.09 22.56 -12.24 re
f
BT
/F13 1 Tf
10.079 0 0 10.079 427.65 692.2501 Tm
0 g
(\(8.8)Tj
ET
0.934 g
443.73 702.09 11.76 -12.24 re
f
BT
10.079 0 0 10.079 443.73 692.2501 Tm
0 g
(\))Tj
ET
0.934 g
455.73 702.09 19.68 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 455.73 691.7701 Tm
0 g
( )Tj
ET
0.934 g
475.65 702.09 7.68 -12.24 re
f
BT
10.079 0 0 10.079 480.93 691.7701 Tm
0 g
( )Tj
ET
0.934 g
483.57 702.09 20.88 -12.24 re
f
BT
/F13 1 Tf
10.079 0 0 10.079 488.61 692.2501 Tm
0 g
(\(5.7)Tj
ET
0.934 g
504.69 702.09 11.76 -12.24 re
f
BT
10.079 0 0 10.079 504.69 692.2501 Tm
0 g
(\))Tj
/F12 1 Tf
-40.5753 -1.2858 TD
( )Tj
/F13 1 Tf
1.4525 0.0476 TD
(Changes in operating assets and liabilities)Tj
/F12 1 Tf
28.5742 -0.0476 TD
1.7264 Tc
(  )Tj
/F13 1 Tf
2.405 0.0476 TD
0 Tc
[(\(25.2)-12.6(\))]TJ
/F12 1 Tf
3.286 -0.0476 TD
2.2502 Tc
(  )Tj
/F13 1 Tf
2.7622 0.0476 TD
0 Tc
[(\(31.2)-12.6(\))]TJ
/F12 1 Tf
-38.4799 -1.1668 TD
29.7767 Tc
[(  )28574.2( )]TJ
ET
0.5 g
420.93 671.85 22.56 -0.48 re
f
BT
10.079 0 0 10.079 443.73 668.0101 Tm
0 g
0.9406 Tc
[(  )-785.8( )]TJ
ET
0.5 g
483.57 671.85 20.88 -0.48 re
f
BT
10.079 0 0 10.079 504.69 668.0101 Tm
0 g
0 Tc
( )Tj
ET
0.934 g
95.73 665.85 14.4 -12.24 re
f
BT
10.079 0 0 10.079 95.73 655.53 Tm
0 g
( )Tj
ET
0.934 g
110.37 665.85 14.4 -12.24 re
f
BT
10.079 0 0 10.079 110.37 655.53 Tm
0 g
( )Tj
ET
0.934 g
125.01 665.85 14.4 -12.24 re
f
BT
10.079 0 0 10.079 125.01 655.53 Tm
0 g
( )Tj
ET
0.934 g
139.65 665.85 258.48 -12.24 re
f
BT
/F13 1 Tf
10.079 0 0 10.079 139.65 656.0101 Tm
0 g
(Net cash used by operating activities)Tj
ET
0.934 g
398.37 665.85 14.4 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 398.37 655.53 Tm
0 g
( )Tj
ET
0.934 g
413.01 665.85 7.68 -12.24 re
f
BT
10.079 0 0 10.079 418.29 655.53 Tm
0 g
( )Tj
ET
0.934 g
420.93 665.85 22.56 -12.24 re
f
BT
/F13 1 Tf
10.079 0 0 10.079 422.61 656.0101 Tm
0 g
(\(34.0)Tj
ET
0.934 g
443.73 665.85 11.76 -12.24 re
f
BT
10.079 0 0 10.079 443.73 656.0101 Tm
0 g
(\))Tj
ET
0.934 g
455.73 665.85 19.68 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 455.73 655.53 Tm
0 g
( )Tj
ET
0.934 g
475.65 665.85 7.68 -12.24 re
f
BT
10.079 0 0 10.079 480.93 655.53 Tm
0 g
( )Tj
ET
0.934 g
483.57 665.85 20.88 -12.24 re
f
BT
/F13 1 Tf
10.079 0 0 10.079 483.57 656.0101 Tm
0 g
(\(36.9)Tj
ET
0.934 g
504.69 665.85 11.76 -12.24 re
f
BT
10.079 0 0 10.079 504.69 656.0101 Tm
0 g
(\))Tj
-40.5753 -1.2382 TD
-0.0001 Tc
0.0001 Tw
(INVESTING ACTIVITIES)Tj
/F12 1 Tf
30.0267 -0.0476 TD
0.5358 Tc
0 Tw
[( )-666.7(  )-1476.3( )-404.8( )-1190.6(  )-1309.6( )]TJ
ET
0.934 g
95.73 640.89 14.4 -12.24 re
f
BT
10.079 0 0 10.079 95.73 630.5701 Tm
0 g
0 Tc
( )Tj
ET
0.934 g
110.37 640.89 287.76 -12.24 re
f
BT
/F13 1 Tf
10.079 0 0 10.079 110.37 631.05 Tm
0 g
(Purchase of property, plant and equipment:)Tj
ET
0.934 g
398.37 640.89 14.4 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 398.37 630.5701 Tm
0 g
( )Tj
ET
0.934 g
413.01 640.89 7.68 -12.24 re
f
BT
10.079 0 0 10.079 413.01 630.5701 Tm
0 g
( )Tj
ET
0.934 g
420.93 640.89 22.56 -12.24 re
f
BT
10.079 0 0 10.079 420.93 630.5701 Tm
0 g
( )Tj
ET
0.934 g
443.73 640.89 11.76 -12.24 re
f
BT
10.079 0 0 10.079 443.73 630.5701 Tm
0 g
( )Tj
ET
0.934 g
455.73 640.89 19.68 -12.24 re
f
BT
10.079 0 0 10.079 455.73 630.5701 Tm
0 g
( )Tj
ET
0.934 g
475.65 640.89 7.68 -12.24 re
f
BT
10.079 0 0 10.079 475.65 630.5701 Tm
0 g
( )Tj
ET
0.934 g
483.57 640.89 20.88 -12.24 re
f
BT
10.079 0 0 10.079 483.57 630.5701 Tm
0 g
( )Tj
ET
0.934 g
504.69 640.89 11.76 -12.24 re
f
BT
10.079 0 0 10.079 504.69 630.5701 Tm
0 g
( )Tj
-40.5753 -1.2382 TD
1.2025 Tc
(  )Tj
/F13 1 Tf
2.905 0.0476 TD
0 Tc
(Consolidated)Tj
/F12 1 Tf
27.1216 -0.0476 TD
1.2025 Tc
[(  )666.7( )-809.6( )261.9( )-1047.7( )]TJ
ET
0.934 g
95.73 615.93 14.4 -12.24 re
f
BT
10.079 0 0 10.079 95.73 605.61 Tm
0 g
0 Tc
( )Tj
ET
0.934 g
110.37 615.93 14.4 -12.24 re
f
BT
10.079 0 0 10.079 110.37 605.61 Tm
0 g
( )Tj
ET
0.934 g
125.01 615.93 14.4 -12.24 re
f
BT
10.079 0 0 10.079 125.01 605.61 Tm
0 g
( )Tj
ET
0.934 g
139.65 615.93 258.48 -12.24 re
f
BT
/F13 1 Tf
10.079 0 0 10.079 139.65 606.0901 Tm
0 g
(Cliffs and Associates Limited)Tj
ET
0.934 g
398.37 615.93 14.4 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 398.37 605.61 Tm
0 g
( )Tj
ET
0.934 g
413.01 615.93 7.68 -12.24 re
f
BT
10.079 0 0 10.079 413.01 605.61 Tm
0 g
( )Tj
ET
0.934 g
420.93 615.93 22.56 -12.24 re
f
BT
10.079 0 0 10.079 420.93 605.61 Tm
0 g
( )Tj
ET
0.934 g
443.73 615.93 11.76 -12.24 re
f
BT
10.079 0 0 10.079 443.73 605.61 Tm
0 g
( )Tj
ET
0.934 g
455.73 615.93 19.68 -12.24 re
f
BT
10.079 0 0 10.079 455.73 605.61 Tm
0 g
( )Tj
ET
0.934 g
475.65 615.93 7.68 -12.24 re
f
BT
10.079 0 0 10.079 480.93 605.61 Tm
0 g
( )Tj
ET
0.934 g
483.57 615.93 20.88 -12.24 re
f
BT
/F13 1 Tf
10.079 0 0 10.079 488.61 606.0901 Tm
0 g
(\(5.4)Tj
ET
0.934 g
504.69 615.93 11.76 -12.24 re
f
BT
10.079 0 0 10.079 504.69 606.0901 Tm
0 g
(\))Tj
/F12 1 Tf
-40.5753 -1.2858 TD
1.2025 Tc
(   )Tj
/F13 1 Tf
4.3576 0.0476 TD
0 Tc
(Other)Tj
/F12 1 Tf
25.6691 -0.0476 TD
1.7264 Tc
(  )Tj
/F13 1 Tf
2.905 0.0476 TD
0 Tc
[(\(4.2)-12.5(\))]TJ
/F12 1 Tf
2.786 -0.0476 TD
2.2502 Tc
(  )Tj
/F13 1 Tf
3.2622 0.0476 TD
0 Tc
[(\(2.1)-12.5(\))]TJ
ET
0.934 g
95.73 590.97 14.4 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 95.73 580.6501 Tm
0 g
( )Tj
ET
0.934 g
110.37 590.97 14.4 -12.24 re
f
BT
10.079 0 0 10.079 110.37 580.6501 Tm
0 g
( )Tj
ET
0.934 g
125.01 590.97 273.12 -12.24 re
f
BT
/F13 1 Tf
10.079 0 0 10.079 125.01 581.1301 Tm
0 g
(Share of associated companies)Tj
ET
0.934 g
398.37 590.97 14.4 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 398.37 580.6501 Tm
0 g
( )Tj
ET
0.934 g
413.01 590.97 7.68 -12.24 re
f
BT
10.079 0 0 10.079 418.29 580.6501 Tm
0 g
( )Tj
ET
0.934 g
420.93 590.97 22.56 -12.24 re
f
BT
/F13 1 Tf
10.079 0 0 10.079 432.69 581.1301 Tm
0 g
(\(.6)Tj
ET
0.934 g
443.73 590.97 11.76 -12.24 re
f
BT
10.079 0 0 10.079 443.73 581.1301 Tm
0 g
(\))Tj
ET
0.934 g
455.73 590.97 19.68 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 455.73 580.6501 Tm
0 g
( )Tj
ET
0.934 g
475.65 590.97 7.68 -12.24 re
f
BT
10.079 0 0 10.079 480.93 580.6501 Tm
0 g
( )Tj
ET
0.934 g
483.57 590.97 20.88 -12.24 re
f
BT
/F13 1 Tf
10.079 0 0 10.079 493.65 581.1301 Tm
0 g
(\(.3)Tj
ET
0.934 g
504.69 590.97 11.76 -12.24 re
f
BT
10.079 0 0 10.079 504.69 581.1301 Tm
0 g
(\))Tj
/F12 1 Tf
-40.5753 -1.2858 TD
( )Tj
/F13 1 Tf
1.4525 0.0476 TD
(Investment in power related joint venture)Tj
/F12 1 Tf
28.5742 -0.0476 TD
1.7264 Tc
(  )Tj
/F13 1 Tf
2.905 0.0476 TD
0 Tc
[(\(6.0)-12.5(\))]TJ
/F12 1 Tf
2.786 -0.0476 TD
1.7264 Tc
[(  )1190.6( )-119( )]TJ
ET
0.934 g
95.73 566.01 14.4 -12.24 re
f
BT
10.079 0 0 10.079 95.73 555.6901 Tm
0 g
0 Tc
( )Tj
ET
0.934 g
110.37 566.01 287.76 -12.24 re
f
BT
/F13 1 Tf
10.079 0 0 10.079 110.37 556.17 Tm
0 g
(Proceeds from sale of assets)Tj
ET
0.934 g
398.37 566.01 14.4 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 398.37 555.6901 Tm
0 g
( )Tj
ET
0.934 g
413.01 566.01 7.68 -12.24 re
f
BT
10.079 0 0 10.079 418.29 555.6901 Tm
0 g
( )Tj
ET
0.934 g
420.93 566.01 22.56 -12.24 re
f
BT
/F13 1 Tf
10.079 0 0 10.079 431.01 556.17 Tm
0 g
(2.5)Tj
ET
0.934 g
443.73 566.01 11.76 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 443.73 555.6901 Tm
0 g
( )Tj
ET
0.934 g
455.73 566.01 19.68 -12.24 re
f
BT
10.079 0 0 10.079 455.73 555.6901 Tm
0 g
( )Tj
ET
0.934 g
475.65 566.01 7.68 -12.24 re
f
BT
10.079 0 0 10.079 480.93 555.6901 Tm
0 g
( )Tj
ET
0.934 g
483.57 566.01 20.88 -12.24 re
f
BT
/F13 1 Tf
10.079 0 0 10.079 491.97 556.17 Tm
0 g
(1.5)Tj
ET
0.934 g
504.69 566.01 11.76 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 504.69 555.6901 Tm
0 g
( )Tj
-40.5753 -1.2382 TD
( )Tj
/F13 1 Tf
1.4525 0.0476 TD
-0.0001 Tc
(Other)Tj
/F12 1 Tf
28.5742 -0.0476 TD
1.2025 Tc
[(  )666.7( )-809.6( )261.9( )-1047.7( )]TJ
/F13 1 Tf
8.9532 0.0476 TD
0 Tc
[(\(0.4)-12.5(\))]TJ
/F12 1 Tf
-38.9799 -1.1668 TD
29.7767 Tc
[(  )28574.2( )]TJ
ET
0.5 g
420.93 535.77 22.56 -0.48 re
f
BT
10.079 0 0 10.079 443.73 531.9301 Tm
0 g
0.9406 Tc
[(  )-785.8( )]TJ
ET
0.5 g
483.57 535.77 20.88 -0.48 re
f
BT
10.079 0 0 10.079 504.69 531.9301 Tm
0 g
0 Tc
( )Tj
ET
0.934 g
95.73 529.77 14.4 -12.24 re
f
BT
10.079 0 0 10.079 95.73 519.4501 Tm
0 g
( )Tj
ET
0.934 g
110.37 529.77 14.4 -12.24 re
f
BT
10.079 0 0 10.079 110.37 519.4501 Tm
0 g
( )Tj
ET
0.934 g
125.01 529.77 14.4 -12.24 re
f
BT
10.079 0 0 10.079 125.01 519.4501 Tm
0 g
( )Tj
ET
0.934 g
139.65 529.77 258.48 -12.24 re
f
BT
/F13 1 Tf
10.079 0 0 10.079 139.65 519.9301 Tm
0 g
(Net cash used by investing activities)Tj
ET
0.934 g
398.37 529.77 14.4 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 398.37 519.4501 Tm
0 g
( )Tj
ET
0.934 g
413.01 529.77 7.68 -12.24 re
f
BT
10.079 0 0 10.079 418.29 519.4501 Tm
0 g
( )Tj
ET
0.934 g
420.93 529.77 22.56 -12.24 re
f
BT
/F13 1 Tf
10.079 0 0 10.079 427.65 519.9301 Tm
0 g
(\(8.3)Tj
ET
0.934 g
443.73 529.77 11.76 -12.24 re
f
BT
10.079 0 0 10.079 443.73 519.9301 Tm
0 g
(\))Tj
ET
0.934 g
455.73 529.77 19.68 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 455.73 519.4501 Tm
0 g
( )Tj
ET
0.934 g
475.65 529.77 7.68 -12.24 re
f
BT
10.079 0 0 10.079 480.93 519.4501 Tm
0 g
( )Tj
ET
0.934 g
483.57 529.77 20.88 -12.24 re
f
BT
/F13 1 Tf
10.079 0 0 10.079 488.61 519.9301 Tm
0 g
(\(6.7)Tj
ET
0.934 g
504.69 529.77 11.76 -12.24 re
f
BT
10.079 0 0 10.079 504.69 519.9301 Tm
0 g
(\))Tj
-40.5753 -1.2382 TD
-0.0001 Tc
0.0001 Tw
(FINANCING ACTIVITIES)Tj
/F12 1 Tf
30.0267 -0.0476 TD
0.5358 Tc
0 Tw
[( )-666.7(  )-1476.3( )-404.8( )-1190.6(  )-1309.6( )]TJ
ET
0.934 g
95.73 504.81 14.4 -12.24 re
f
BT
10.079 0 0 10.079 95.73 494.4901 Tm
0 g
0 Tc
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(—)Tj
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(C )Tj
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10.079 0 0 10.079 430.29 732.3301 Tm
0 g
( )Tj
ET
0.934 g
435.33 741.45 22.56 -11.04 re
f
BT
10.079 0 0 10.079 435.33 732.3301 Tm
0 g
(809.7)Tj
ET
0.934 g
458.13 741.45 9.36 -11.04 re
f
BT
10.079 0 0 10.079 458.13 732.3301 Tm
0 g
( )Tj
ET
0.934 g
467.73 741.45 9.84 -11.04 re
f
BT
10.079 0 0 10.079 467.73 732.3301 Tm
0 g
( )Tj
ET
0.934 g
477.81 741.45 4.8 -11.04 re
f
BT
10.079 0 0 10.079 477.81 732.3301 Tm
0 g
( )Tj
ET
0.934 g
482.85 741.45 17.52 -11.04 re
f
BT
10.079 0 0 10.079 482.85 732.3301 Tm
0 g
(33.2)Tj
ET
0.934 g
500.61 741.45 3.84 -11.04 re
f
BT
10.079 0 0 10.079 500.61 732.3301 Tm
0 g
( )Tj
ET
0.934 g
504.69 741.45 9.84 -11.04 re
f
BT
10.079 0 0 10.079 504.69 732.3301 Tm
0 g
( )Tj
ET
0.934 g
514.77 741.45 13.68 -11.04 re
f
BT
10.079 0 0 10.079 514.77 732.3301 Tm
0 g
( )Tj
ET
0.934 g
528.69 741.45 22.56 -11.04 re
f
BT
10.079 0 0 10.079 528.6899 732.3301 Tm
0 g
(842.9)Tj
ET
0.934 g
551.49 741.45 20.88 -11.04 re
f
BT
10.079 0 0 10.079 551.4899 732.3301 Tm
0 g
( )Tj
-50.7906 -1.1192 TD
28.6575 Tc
[(  )27931.2( )]TJ
ET
0.5 g
345.81 724.89 22.56 -0.48 re
f
BT
10.079 0 0 10.079 368.61 721.05 Tm
0 g
0.7025 Tc
[(  )-47.6( )]TJ
ET
0.5 g
393.33 724.89 22.56 -0.48 re
f
BT
10.079 0 0 10.079 416.13 721.05 Tm
0 g
0.1548 Tc
[(  )-595.3( )]TJ
ET
0.5 g
435.33 724.89 22.56 -0.48 re
f
BT
10.079 0 0 10.079 458.13 721.05 Tm
0 g
0.7025 Tc
[(  )-47.6( )]TJ
ET
0.5 g
482.85 724.89 17.52 -0.48 re
f
BT
10.079 0 0 10.079 500.61 721.05 Tm
0 g
0.1548 Tc
[(  )-595.3( )]TJ
ET
0.5 g
528.69 724.89 22.56 -0.48 re
f
BT
10.079 0 0 10.079 551.4899 721.05 Tm
0 g
0 Tc
( )Tj
-50.7906 -1.1191 TD
0.25 Tw
[( )-476.3(Total )250(assets)-23237.6( )-476.3( 723.2)-12.3( )-452.5( )-500.1( 132.8)-12.3( )95.2( )-500.1( 856.0)-12.3( )-452.5( )-500.1( 33.2)-12.2( )95.2( )-500.1( )-881.1(889.2)-12.3( )]TJ
T*
28.6575 Tc
0 Tw
[(  )27931.2( )]TJ
ET
0.5 g
345.81 703.53 22.56 -2.88 re
f
BT
10.079 0 0 10.079 368.61 698.4901 Tm
0 g
0.7025 Tc
[(  )-47.6( )]TJ
ET
0.5 g
393.33 703.53 22.56 -2.88 re
f
BT
10.079 0 0 10.079 416.13 698.4901 Tm
0 g
0.1548 Tc
[(  )-595.3( )]TJ
ET
0.5 g
435.33 703.53 22.56 -2.88 re
f
BT
10.079 0 0 10.079 458.13 698.4901 Tm
0 g
0.7025 Tc
[(  )-47.6( )]TJ
ET
0.5 g
482.85 703.53 17.52 -2.88 re
f
BT
10.079 0 0 10.079 500.61 698.4901 Tm
0 g
0.1548 Tc
[(  )-595.3( )]TJ
ET
0.5 g
528.69 703.53 22.56 -2.88 re
f
BT
10.079 0 0 10.079 551.4899 698.4901 Tm
0 g
0 Tc
( )Tj
ET
0.934 g
39.57 696.33 291.12 -12.24 re
f
BT
/F13 1 Tf
10.079 0 0 10.079 39.57 686.4901 Tm
0 g
(First Quarter 2001)Tj
ET
0.934 g
330.93 696.33 9.6 -12.24 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 330.93 686.0101 Tm
0 g
( )Tj
ET
0.934 g
340.77 696.33 4.8 -12.24 re
f
BT
10.079 0 0 10.079 340.77 686.0101 Tm
0 g
( )Tj
ET
0.934 g
345.81 696.33 22.56 -12.24 re
f
BT
10.079 0 0 10.079 345.81 686.0101 Tm
0 g
( )Tj
ET
0.934 g
368.61 696.33 9.36 -12.24 re
f
BT
10.079 0 0 10.079 368.61 686.0101 Tm
0 g
( )Tj
ET
0.934 g
378.21 696.33 9.84 -12.24 re
f
BT
10.079 0 0 10.079 378.21 686.0101 Tm
0 g
( )Tj
ET
0.934 g
388.29 696.33 4.8 -12.24 re
f
BT
10.079 0 0 10.079 388.29 686.0101 Tm
0 g
( )Tj
ET
0.934 g
393.33 696.33 22.56 -12.24 re
f
BT
10.079 0 0 10.079 393.33 686.0101 Tm
0 g
( )Tj
ET
0.934 g
416.13 696.33 3.84 -12.24 re
f
BT
10.079 0 0 10.079 416.13 686.0101 Tm
0 g
( )Tj
ET
0.934 g
420.21 696.33 9.84 -12.24 re
f
BT
10.079 0 0 10.079 420.21 686.0101 Tm
0 g
( )Tj
ET
0.934 g
430.29 696.33 4.8 -12.24 re
f
BT
10.079 0 0 10.079 430.29 686.0101 Tm
0 g
( )Tj
ET
0.934 g
435.33 696.33 22.56 -12.24 re
f
BT
10.079 0 0 10.079 435.33 686.0101 Tm
0 g
( )Tj
ET
0.934 g
458.13 696.33 9.36 -12.24 re
f
BT
10.079 0 0 10.079 458.13 686.0101 Tm
0 g
( )Tj
ET
0.934 g
467.73 696.33 9.84 -12.24 re
f
BT
10.079 0 0 10.079 467.73 686.0101 Tm
0 g
( )Tj
ET
0.934 g
477.81 696.33 4.8 -12.24 re
f
BT
10.079 0 0 10.079 477.81 686.0101 Tm
0 g
( )Tj
ET
0.934 g
482.85 696.33 17.52 -12.24 re
f
BT
10.079 0 0 10.079 482.85 686.0101 Tm
0 g
( )Tj
ET
0.934 g
500.61 696.33 3.84 -12.24 re
f
BT
10.079 0 0 10.079 500.61 686.0101 Tm
0 g
( )Tj
ET
0.934 g
504.69 696.33 9.84 -12.24 re
f
BT
10.079 0 0 10.079 504.69 686.0101 Tm
0 g
( )Tj
ET
0.934 g
514.77 696.33 13.68 -12.24 re
f
BT
10.079 0 0 10.079 514.77 686.0101 Tm
0 g
( )Tj
ET
0.934 g
528.69 696.33 22.56 -12.24 re
f
BT
10.079 0 0 10.079 528.6899 686.0101 Tm
0 g
( )Tj
ET
0.934 g
551.49 696.33 20.88 -12.24 re
f
BT
10.079 0 0 10.079 551.4899 686.0101 Tm
0 g
( )Tj
-50.7906 -1.1192 TD
0.7501 Tw
[(Sales )750.1(and )750.1(services)-21632.1( )23.8($)-500.1(20.9)-12.2( )47.6( $ )-1262( )595.3( $)-500.1(20.9)-12.2( )47.6( $ )-762( )595.3( )-881($)-500.1(20.9)-12.2( )]TJ
ET
0.934 g
39.57 672.57 291.12 -11.04 re
f
BT
10.079 0 0 10.079 39.57 663.4501 Tm
0 g
0 Tw
(Royalties and management fees)Tj
ET
0.934 g
330.93 672.57 9.6 -11.04 re
f
BT
10.079 0 0 10.079 330.93 663.4501 Tm
0 g
( )Tj
ET
0.934 g
340.77 672.57 4.8 -11.04 re
f
BT
10.079 0 0 10.079 340.77 663.4501 Tm
0 g
( )Tj
ET
0.934 g
345.81 672.57 22.56 -11.04 re
f
BT
10.079 0 0 10.079 355.89 663.4501 Tm
0 g
(7.9)Tj
ET
0.934 g
368.61 672.57 9.36 -11.04 re
f
BT
10.079 0 0 10.079 368.61 663.4501 Tm
0 g
( )Tj
ET
0.934 g
378.21 672.57 9.84 -11.04 re
f
BT
10.079 0 0 10.079 378.21 663.4501 Tm
0 g
( )Tj
ET
0.934 g
388.29 672.57 4.8 -11.04 re
f
BT
10.079 0 0 10.079 388.29 663.4501 Tm
0 g
( )Tj
ET
0.934 g
393.33 672.57 22.56 -11.04 re
f
BT
10.079 0 0 10.079 393.33 663.4501 Tm
0 g
( )Tj
ET
0.934 g
416.13 672.57 3.84 -11.04 re
f
BT
10.079 0 0 10.079 416.13 663.4501 Tm
0 g
( )Tj
ET
0.934 g
420.21 672.57 9.84 -11.04 re
f
BT
10.079 0 0 10.079 420.21 663.4501 Tm
0 g
( )Tj
ET
0.934 g
430.29 672.57 4.8 -11.04 re
f
BT
10.079 0 0 10.079 430.29 663.4501 Tm
0 g
( )Tj
ET
0.934 g
435.33 672.57 22.56 -11.04 re
f
BT
10.079 0 0 10.079 445.41 663.4501 Tm
0 g
(7.9)Tj
ET
0.934 g
458.13 672.57 9.36 -11.04 re
f
BT
10.079 0 0 10.079 458.13 663.4501 Tm
0 g
( )Tj
ET
0.934 g
467.73 672.57 9.84 -11.04 re
f
BT
10.079 0 0 10.079 467.73 663.4501 Tm
0 g
( )Tj
ET
0.934 g
477.81 672.57 4.8 -11.04 re
f
BT
10.079 0 0 10.079 477.81 663.4501 Tm
0 g
( )Tj
ET
0.934 g
482.85 672.57 17.52 -11.04 re
f
BT
10.079 0 0 10.079 482.85 663.4501 Tm
0 g
( )Tj
ET
0.934 g
500.61 672.57 3.84 -11.04 re
f
BT
10.079 0 0 10.079 500.61 663.4501 Tm
0 g
( )Tj
ET
0.934 g
504.69 672.57 9.84 -11.04 re
f
BT
10.079 0 0 10.079 504.69 663.4501 Tm
0 g
( )Tj
ET
0.934 g
514.77 672.57 13.68 -11.04 re
f
BT
10.079 0 0 10.079 514.77 663.4501 Tm
0 g
( )Tj
ET
0.934 g
528.69 672.57 22.56 -11.04 re
f
BT
10.079 0 0 10.079 538.77 663.4501 Tm
0 g
(7.9)Tj
ET
0.934 g
551.49 672.57 20.88 -11.04 re
f
BT
10.079 0 0 10.079 551.4899 663.4501 Tm
0 g
( )Tj
-50.7906 -1.1192 TD
28.6575 Tc
[(  )27931.2( )]TJ
ET
0.5 g
345.81 656.01 22.56 -0.48 re
f
BT
10.079 0 0 10.079 368.61 652.17 Tm
0 g
0.7025 Tc
[(  )-47.6( )]TJ
ET
0.5 g
393.33 656.01 22.56 -0.48 re
f
BT
10.079 0 0 10.079 416.13 652.17 Tm
0 g
0.1548 Tc
[(  )-595.3( )]TJ
ET
0.5 g
435.33 656.01 22.56 -0.48 re
f
BT
10.079 0 0 10.079 458.13 652.17 Tm
0 g
0.7025 Tc
[(  )-47.6( )]TJ
ET
0.5 g
482.85 656.01 17.52 -0.48 re
f
BT
10.079 0 0 10.079 500.61 652.17 Tm
0 g
0.1548 Tc
[(  )-595.3( )]TJ
ET
0.5 g
528.69 656.01 22.56 -0.48 re
f
BT
10.079 0 0 10.079 551.4899 652.17 Tm
0 g
0 Tc
( )Tj
-50.7906 -1.1191 TD
0.7501 Tw
[( )23.8(Total )750.1(operating )750.1(revenues)-17990.1( )23.8( 28.8)-12.2( )47.6(  )500.1( )-1262( )595.3(  28.8)-12.2( )47.6(  )500.1( )-762( )595.3(  )-881(28.8)-12.2( )]TJ
T*
28.6575 Tc
0 Tw
[(  )27931.2( )]TJ
ET
0.5 g
345.81 634.65 22.56 -2.88 re
f
BT
10.079 0 0 10.079 368.61 629.61 Tm
0 g
0.7025 Tc
[(  )-47.6( )]TJ
ET
0.5 g
393.33 634.65 22.56 -2.88 re
f
BT
10.079 0 0 10.079 416.13 629.61 Tm
0 g
0.1548 Tc
[(  )-595.3( )]TJ
ET
0.5 g
435.33 634.65 22.56 -2.88 re
f
BT
10.079 0 0 10.079 458.13 629.61 Tm
0 g
0.7025 Tc
[(  )-47.6( )]TJ
ET
0.5 g
482.85 634.65 17.52 -2.88 re
f
BT
10.079 0 0 10.079 500.61 629.61 Tm
0 g
0.1548 Tc
[(  )-595.3( )]TJ
ET
0.5 g
528.69 634.65 22.56 -2.88 re
f
BT
10.079 0 0 10.079 551.4899 629.61 Tm
0 g
0 Tc
( )Tj
ET
0.934 g
39.57 627.45 291.12 -22.32 re
f
BT
10.079 0 0 10.079 39.57 618.3301 Tm
0 g
(Loss before income taxes, minority interest and cumulative effect )Tj
0.7382 -1.1192 TD
(adjustment)Tj
ET
0.934 g
330.93 627.45 9.6 -22.32 re
f
BT
10.079 0 0 10.079 330.93 607.05 Tm
0 g
( )Tj
ET
0.934 g
340.77 627.45 4.8 -22.32 re
f
BT
10.079 0 0 10.079 343.17 607.05 Tm
0 g
( )Tj
ET
0.934 g
345.81 627.45 22.56 -22.32 re
f
BT
10.079 0 0 10.079 352.53 607.05 Tm
0 g
(\(5.4)Tj
ET
0.934 g
368.61 627.45 9.36 -22.32 re
f
BT
10.079 0 0 10.079 368.61 607.05 Tm
0 g
(\))Tj
ET
0.934 g
378.21 627.45 9.84 -22.32 re
f
BT
10.079 0 0 10.079 378.21 607.05 Tm
0 g
( )Tj
ET
0.934 g
388.29 627.45 4.8 -22.32 re
f
BT
10.079 0 0 10.079 390.69 607.05 Tm
0 g
( )Tj
ET
0.934 g
393.33 627.45 22.56 -22.32 re
f
BT
10.079 0 0 10.079 400.05 607.05 Tm
0 g
(\(6.0)Tj
ET
0.934 g
416.13 627.45 3.84 -22.32 re
f
BT
10.079 0 0 10.079 416.13 607.05 Tm
0 g
(\))Tj
ET
0.934 g
420.21 627.45 9.84 -22.32 re
f
BT
10.079 0 0 10.079 420.21 607.05 Tm
0 g
( )Tj
ET
0.934 g
430.29 627.45 4.8 -22.32 re
f
BT
10.079 0 0 10.079 432.69 607.05 Tm
0 g
( )Tj
ET
0.934 g
435.33 627.45 22.56 -22.32 re
f
BT
10.079 0 0 10.079 437.01 607.05 Tm
0 g
(\(11.4)Tj
ET
0.934 g
458.13 627.45 9.36 -22.32 re
f
BT
10.079 0 0 10.079 458.13 607.05 Tm
0 g
(\))Tj
ET
0.934 g
467.73 627.45 9.84 -22.32 re
f
BT
10.079 0 0 10.079 467.73 607.05 Tm
0 g
( )Tj
ET
0.934 g
477.81 627.45 4.8 -22.32 re
f
BT
10.079 0 0 10.079 480.21 607.05 Tm
0 g
( )Tj
ET
0.934 g
482.85 627.45 17.52 -22.32 re
f
BT
10.079 0 0 10.079 484.53 607.05 Tm
0 g
(\(4.6)Tj
ET
0.934 g
500.61 627.45 3.84 -22.32 re
f
BT
10.079 0 0 10.079 500.61 607.05 Tm
0 g
(\))Tj
ET
0.934 g
504.69 627.45 9.84 -22.32 re
f
BT
10.079 0 0 10.079 504.69 607.05 Tm
0 g
( )Tj
ET
0.934 g
514.77 627.45 13.68 -22.32 re
f
BT
10.079 0 0 10.079 526.0499 607.05 Tm
0 g
( )Tj
ET
0.934 g
528.69 627.45 22.56 -22.32 re
f
BT
10.079 0 0 10.079 530.3699 607.05 Tm
0 g
(\(16.0)Tj
ET
0.934 g
551.49 627.45 20.88 -22.32 re
f
BT
10.079 0 0 10.079 551.4899 607.05 Tm
0 g
(\))Tj
-50.7906 -1.1191 TD
0.25 Tw
[(Investments )250(in )250(associated )250(companies)-14160.8( )-476.3( 135.2)-12.3( )-452.5( )-500.1(  )-1762.1( )95.2( )-500.1( 135.2)-12.3( )-452.5( )-500.1(  )-1262.1( )95.2( )-500.1( )-881.1(135.2)-12.3( )]TJ
ET
0.934 g
39.57 593.61 291.12 -11.04 re
f
BT
10.079 0 0 10.079 39.57 584.4901 Tm
0 g
0 Tw
(Other identifiable assets)Tj
ET
0.934 g
330.93 593.61 9.6 -11.04 re
f
BT
10.079 0 0 10.079 330.93 584.4901 Tm
0 g
( )Tj
ET
0.934 g
340.77 593.61 4.8 -11.04 re
f
BT
10.079 0 0 10.079 340.77 584.4901 Tm
0 g
( )Tj
ET
0.934 g
345.81 593.61 22.56 -11.04 re
f
BT
10.079 0 0 10.079 345.81 584.4901 Tm
0 g
(470.5)Tj
ET
0.934 g
368.61 593.61 9.36 -11.04 re
f
BT
10.079 0 0 10.079 368.61 584.4901 Tm
0 g
( )Tj
ET
0.934 g
378.21 593.61 9.84 -11.04 re
f
BT
10.079 0 0 10.079 378.21 584.4901 Tm
0 g
( )Tj
ET
0.934 g
388.29 593.61 4.8 -11.04 re
f
BT
10.079 0 0 10.079 388.29 584.4901 Tm
0 g
( )Tj
ET
0.934 g
393.33 593.61 22.56 -11.04 re
f
BT
10.079 0 0 10.079 393.33 584.4901 Tm
0 g
(136.6)Tj
ET
0.934 g
416.13 593.61 3.84 -11.04 re
f
BT
10.079 0 0 10.079 416.13 584.4901 Tm
0 g
( )Tj
ET
0.934 g
420.21 593.61 9.84 -11.04 re
f
BT
10.079 0 0 10.079 420.21 584.4901 Tm
0 g
( )Tj
ET
0.934 g
430.29 593.61 4.8 -11.04 re
f
BT
10.079 0 0 10.079 430.29 584.4901 Tm
0 g
( )Tj
ET
0.934 g
435.33 593.61 22.56 -11.04 re
f
BT
10.079 0 0 10.079 435.33 584.4901 Tm
0 g
(607.1)Tj
ET
0.934 g
458.13 593.61 9.36 -11.04 re
f
BT
10.079 0 0 10.079 458.13 584.4901 Tm
0 g
( )Tj
ET
0.934 g
467.73 593.61 9.84 -11.04 re
f
BT
10.079 0 0 10.079 467.73 584.4901 Tm
0 g
( )Tj
ET
0.934 g
477.81 593.61 4.8 -11.04 re
f
BT
10.079 0 0 10.079 477.81 584.4901 Tm
0 g
( )Tj
ET
0.934 g
482.85 593.61 17.52 -11.04 re
f
BT
10.079 0 0 10.079 482.85 584.4901 Tm
0 g
(23.6)Tj
ET
0.934 g
500.61 593.61 3.84 -11.04 re
f
BT
10.079 0 0 10.079 500.61 584.4901 Tm
0 g
( )Tj
ET
0.934 g
504.69 593.61 9.84 -11.04 re
f
BT
10.079 0 0 10.079 504.69 584.4901 Tm
0 g
( )Tj
ET
0.934 g
514.77 593.61 13.68 -11.04 re
f
BT
10.079 0 0 10.079 514.77 584.4901 Tm
0 g
( )Tj
ET
0.934 g
528.69 593.61 22.56 -11.04 re
f
BT
10.079 0 0 10.079 528.6899 584.4901 Tm
0 g
(630.7)Tj
ET
0.934 g
551.49 593.61 20.88 -11.04 re
f
BT
10.079 0 0 10.079 551.4899 584.4901 Tm
0 g
( )Tj
-50.7906 -1.1191 TD
28.6575 Tc
[(  )27931.2( )]TJ
ET
0.5 g
345.81 577.05 22.56 -0.48 re
f
BT
10.079 0 0 10.079 368.61 573.2101 Tm
0 g
0.7025 Tc
[(  )-47.6( )]TJ
ET
0.5 g
393.33 577.05 22.56 -0.48 re
f
BT
10.079 0 0 10.079 416.13 573.2101 Tm
0 g
0.1548 Tc
[(  )-595.3( )]TJ
ET
0.5 g
435.33 577.05 22.56 -0.48 re
f
BT
10.079 0 0 10.079 458.13 573.2101 Tm
0 g
0.7025 Tc
[(  )-47.6( )]TJ
ET
0.5 g
482.85 577.05 17.52 -0.48 re
f
BT
10.079 0 0 10.079 500.61 573.2101 Tm
0 g
0.1548 Tc
[(  )-595.3( )]TJ
ET
0.5 g
528.69 577.05 22.56 -0.48 re
f
BT
10.079 0 0 10.079 551.4899 573.2101 Tm
0 g
0 Tc
( )Tj
-50.7906 -1.1192 TD
0.25 Tw
[( )-476.3(Total )250(assets)-23237.6( )-476.3( 605.7)-12.3( )-452.5( )-500.1( 136.6)-12.3( )95.2( )-500.1( 742.3)-12.3( )-452.5( )-500.1( 23.6)-12.2( )95.2( )-500.1( )-881.1(765.9)-12.3( )]TJ
T*
28.6575 Tc
0 Tw
[(  )27931.2( )]TJ
ET
0.5 g
345.81 555.69 22.56 -2.88 re
f
BT
10.079 0 0 10.079 368.61 550.6501 Tm
0 g
0.7025 Tc
[(  )-47.6( )]TJ
ET
0.5 g
393.33 555.69 22.56 -2.88 re
f
BT
10.079 0 0 10.079 416.13 550.6501 Tm
0 g
0.1548 Tc
[(  )-595.3( )]TJ
ET
0.5 g
435.33 555.69 22.56 -2.88 re
f
BT
10.079 0 0 10.079 458.13 550.6501 Tm
0 g
0.7025 Tc
[(  )-47.6( )]TJ
ET
0.5 g
482.85 555.69 17.52 -2.88 re
f
BT
10.079 0 0 10.079 500.61 550.6501 Tm
0 g
0.1548 Tc
[(  )-595.3( )]TJ
ET
0.5 g
528.69 555.69 22.56 -2.88 re
f
BT
10.079 0 0 10.079 551.4899 550.6501 Tm
0 g
0 Tc
( )Tj
/F13 1 Tf
-52.1716 -2.5955 TD
-0.0001 Tc
0.0001 Tw
(NOTE F )Tj
/F6 1 Tf
3.9446 0 TD
0 Tc
0 Tw
(—)Tj
/F13 1 Tf
0.9999 0 TD
-0.0001 Tc
0.0001 Tw
( INCOME TAXES)Tj
/F12 1 Tf
-4.9446 -2.5717 TD
0 Tc
0 Tw
(     In March 2002, the )Tj
/F2 1 Tf
9.1642 0 TD
(“)Tj
/F12 1 Tf
0.444 0 TD
(Job Creation and Worker Assistance Act of 2002)Tj
/F2 1 Tf
19.6332 0 TD
(”)Tj
/F12 1 Tf
0.444 0 TD
( \()Tj
/F2 1 Tf
0.5829 0 TD
(“)Tj
/F12 1 Tf
0.444 0 TD
-0.0001 Tc
(Act)Tj
/F2 1 Tf
1.4439 0 TD
0 Tc
(”)Tj
/F12 1 Tf
0.444 0 TD
(\) was enacted by Congress. Provisions of the Act )Tj
-32.6 -1.1192 TD
(provide for the carryback of net operating losses for tax years 2002 and 2001 for up to five years. Previously, the limitation )Tj
49.5425 0 TD
(was two )Tj
-49.5425 -1.1192 TD
(years. As a result, the Company was able to utilize its tax loss generated in 2001 and reduce loss carryforwards to approximate)Tj
50.6804 0 TD
(ly $50 )Tj
-50.6804 -1.1192 TD
(million \($95 million at December 31, 2001\) and associated deferred tax assets to about $18 million \($33 million at December 31,)Tj
51.6563 0 TD
( 2001\). )Tj
-51.6563 -1.1192 TD
(Partially offsetting was an increase in alternative minimum tax credit carryforwards to approximately $10 million \($2 million a)Tj
50.8504 0 TD
(t )Tj
-50.8504 -1.1192 TD
(December 31, 2001\). The Company received a cash refund in the second quarter of 2002 of $11.6 million, an increase of $7.7 mill)Tj
52.1793 0 TD
(ion )Tj
-52.1793 -1.1192 TD
(compared to the year-end expectation. There was no impact on earnings as a result of this change. )Tj
27.5741 -2.6907 TD
(7)Tj
ET
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18.21 989.85 575.76 -572.16 re
f
BT
/F12 1 Tf
12 0 0 12 25.65 979.05 Tm
0 g
0 Tc
0 Tw
(                  )Tj
/F13 1 Tf
10.079 0 0 10.079 193.17 952.41 Tm
-0.0001 Tc
(MANAGEMENT)Tj
/F6 1 Tf
7.5543 0 TD
0 Tc
(’)Tj
/F13 1 Tf
0.333 0 TD
-0.0001 Tc
0.0001 Tw
(S DISCUSSION AND ANALYSIS)Tj
-4.5774 -1.2382 TD
(OF FINANCIAL CONDITION AND)Tj
1.3811 -1.2382 TD
(RESULTS OF OPERATIONS)Tj
-21.3116 -2.6431 TD
(COMPARISON OF FIRST QUARTER )Tj
/F6 1 Tf
17.2764 0 TD
0 Tc
0 Tw
(—)Tj
/F13 1 Tf
0.9999 0 TD
( 2002 AND 2001)Tj
/F12 1 Tf
-18.2763 -2.5717 TD
(     The net loss for the first quarter of 2002 was $12.8 million, or $1.27 per share \(all per share earnings are )Tj
/F2 1 Tf
43.2371 0 TD
(“)Tj
/F12 1 Tf
0.444 0 TD
(diluted earnings per share)Tj
/F2 1 Tf
10.3021 0 TD
(”)Tj
/F12 1 Tf
0.444 0 TD
( )Tj
-54.4271 -1.1191 TD
(unless stated otherwise\). In the first quarter of 2001, the Company had a loss of $9.6 million, or $.95 per share, before recog)Tj
49.6535 0 TD
(nizing a )Tj
-49.6535 -1.1192 TD
($9.3 million after-tax credit relating to the cumulative effect of an accounting change. The net loss in the first quarter of 2)Tj
48.6806 0 TD
(001 was )Tj
-48.6806 -1.1192 TD
($.3 million, or $.03 per share. Following is a summary of results: )Tj
12 0 0 12 67.65 828.09 Tm
1.85 Tc
[( )420( )-22260( )400(  )340(  )400( )800( )760( )]TJ
7.439 0 0 7.439 67.65 818.01 Tm
2.46 Tc
(  )Tj
42.0054 0 TD
0 Tc
( )Tj
/F13 1 Tf
5.7104 0.0323 TD
(\(In Millions, Except Per Share\))Tj
/F12 1 Tf
-47.7158 -1.1614 TD
2.46 Tc
(  )Tj
42.0054 0 TD
0 Tc
( )Tj
ET
0.5 g
400.53 810.33 143.76 -0.48 re
f
BT
7.439 0 0 7.439 67.65 800.4901 Tm
0 g
2.46 Tc
(  )Tj
42.0054 0 TD
0 Tc
( )Tj
/F13 1 Tf
6.517 0.0323 TD
(2002)Tj
/F12 1 Tf
5.8395 -0.0323 TD
( )Tj
/F13 1 Tf
5.1942 0.0323 TD
(2001)Tj
/F12 1 Tf
-59.5561 -1.1614 TD
2.46 Tc
(  )Tj
42.0054 0 TD
0 Tc
( )Tj
ET
0.5 g
400.53 792.81 71.28 -0.48 re
f
BT
7.439 0 0 7.439 472.05 792.09 Tm
0 g
( )Tj
ET
0.5 g
492.45 792.81 51.84 -0.48 re
f
0.934 g
67.65 790.41 312.24 -11.04 re
f
BT
10.079 0 0 10.079 67.65 781.29 Tm
0 g
(Loss before cumulative effect of accounting change:)Tj
ET
0.934 g
380.13 790.41 20.16 -11.04 re
f
BT
10.079 0 0 10.079 380.13 781.29 Tm
0 g
( )Tj
ET
0.934 g
400.53 790.41 24.96 -11.04 re
f
BT
10.079 0 0 10.079 400.53 781.29 Tm
0 g
( )Tj
ET
0.934 g
425.73 790.41 20.88 -11.04 re
f
BT
10.079 0 0 10.079 425.73 781.29 Tm
0 g
( )Tj
ET
0.934 g
446.85 790.41 24.96 -11.04 re
f
BT
10.079 0 0 10.079 446.85 781.29 Tm
0 g
( )Tj
ET
0.934 g
472.05 790.41 20.16 -11.04 re
f
BT
10.079 0 0 10.079 472.05 781.29 Tm
0 g
( )Tj
ET
0.934 g
492.45 790.41 15.36 -11.04 re
f
BT
10.079 0 0 10.079 492.45 781.29 Tm
0 g
( )Tj
ET
0.934 g
508.05 790.41 15.84 -11.04 re
f
BT
10.079 0 0 10.079 508.0499 781.29 Tm
0 g
( )Tj
ET
0.934 g
524.13 790.41 20.16 -11.04 re
f
BT
10.079 0 0 10.079 524.1299 781.29 Tm
0 g
( )Tj
-45.29 -1.1192 TD
1.7502 Tw
[( Amount)-25725( )-2024($\(12.8)-12.6(\))-2167.2( )-1071.5($\(9.6)-12.5(\))]TJ
ET
0.934 g
67.65 767.85 19.92 -11.04 re
f
BT
10.079 0 0 10.079 67.65 758.73 Tm
0 g
0 Tw
( )Tj
ET
0.934 g
87.81 767.85 292.08 -11.04 re
f
BT
10.079 0 0 10.079 87.81 758.73 Tm
0 g
(Per share)Tj
ET
0.934 g
380.13 767.85 20.16 -11.04 re
f
BT
10.079 0 0 10.079 380.13 758.73 Tm
0 g
( )Tj
ET
0.934 g
400.53 767.85 24.96 -11.04 re
f
BT
10.079 0 0 10.079 423.09 758.73 Tm
0 g
( )Tj
ET
0.934 g
425.73 767.85 20.88 -11.04 re
f
BT
10.079 0 0 10.079 425.73 758.73 Tm
0 g
(\(1.27)Tj
ET
0.934 g
446.85 767.85 24.96 -11.04 re
f
BT
10.079 0 0 10.079 446.85 758.73 Tm
0 g
(\))Tj
ET
0.934 g
472.05 767.85 20.16 -11.04 re
f
BT
10.079 0 0 10.079 472.05 758.73 Tm
0 g
( )Tj
ET
0.934 g
492.45 767.85 15.36 -11.04 re
f
BT
10.079 0 0 10.079 505.41 758.73 Tm
0 g
( )Tj
ET
0.934 g
508.05 767.85 15.84 -11.04 re
f
BT
10.079 0 0 10.079 508.0499 758.73 Tm
0 g
(\(.95)Tj
ET
0.934 g
524.13 767.85 20.16 -11.04 re
f
BT
10.079 0 0 10.079 524.1299 758.73 Tm
0 g
(\))Tj
-45.29 -1.1192 TD
[(Cumulative effect of accounting change:)-14730.4( )-1774( )-2250.2( )-1845.4( )-2250.2( )-1774( )-1297.8( )-1345.4( )]TJ
ET
0.934 g
67.65 745.29 19.92 -11.04 re
f
BT
10.079 0 0 10.079 67.65 736.17 Tm
0 g
( )Tj
ET
0.934 g
87.81 745.29 292.08 -11.04 re
f
BT
10.079 0 0 10.079 87.81 736.17 Tm
0 g
(Amount)Tj
ET
0.934 g
380.13 745.29 20.16 -11.04 re
f
BT
10.079 0 0 10.079 380.13 736.17 Tm
0 g
( )Tj
ET
0.934 g
400.53 745.29 24.96 -11.04 re
f
BT
10.079 0 0 10.079 400.53 736.17 Tm
0 g
( )Tj
ET
0.934 g
425.73 745.29 20.88 -11.04 re
f
BT
/F2 1 Tf
10.079 0 0 10.079 436.77 736.17 Tm
0 g
(—)Tj
ET
0.934 g
446.85 745.29 24.96 -11.04 re
f
BT
/F12 1 Tf
10.079 0 0 10.079 446.85 736.17 Tm
0 g
( )Tj
ET
0.934 g
472.05 745.29 20.16 -11.04 re
f
BT
10.079 0 0 10.079 472.05 736.17 Tm
0 g
( )Tj
ET
0.934 g
492.45 745.29 15.36 -11.04 re
f
BT
10.079 0 0 10.079 492.45 736.17 Tm
0 g
( )Tj
ET
0.934 g
508.05 745.29 15.84 -11.04 re
f
BT
10.079 0 0 10.079 511.4099 736.17 Tm
0 g
(9.3)Tj
ET
0.934 g
524.13 745.29 20.16 -11.04 re
f
BT
10.079 0 0 10.079 524.1299 736.17 Tm
0 g
( )Tj
-45.29 -1.1191 TD
1.7502 Tw
[( Per )1750.2(share)-25310.1( )-23.8( )]TJ
/F2 1 Tf
36.6225 0 TD
0 Tw
(—)Tj
/F12 1 Tf
1.0001 0 TD
2.2502 Tw
[(  )476.2( )619.1(.92)-12.1( )]TJ
-37.6226 -1.1192 TD
30.753 Tc
0 Tw
[(  )28979( )]TJ
ET
0.5 g
425.73 717.45 20.88 -0.48 re
f
BT
10.079 0 0 10.079 446.85 713.61 Tm
0 g
2.2502 Tc
[(  )476.2( )]TJ
ET
0.5 g
508.05 717.45 15.84 -0.48 re
f
BT
10.079 0 0 10.079 524.1299 713.61 Tm
0 g
0 Tc
( )Tj
ET
0.934 g
67.65 711.45 312.24 -11.04 re
f
BT
10.079 0 0 10.079 67.65 702.3301 Tm
0 g
(Net loss:)Tj
ET
0.934 g
380.13 711.45 20.16 -11.04 re
f
BT
10.079 0 0 10.079 380.13 702.3301 Tm
0 g
( )Tj
ET
0.934 g
400.53 711.45 24.96 -11.04 re
f
BT
10.079 0 0 10.079 400.53 702.3301 Tm
0 g
( )Tj
ET
0.934 g
425.73 711.45 20.88 -11.04 re
f
BT
10.079 0 0 10.079 425.73 702.3301 Tm
0 g
( )Tj
ET
0.934 g
446.85 711.45 24.96 -11.04 re
f
BT
10.079 0 0 10.079 446.85 702.3301 Tm
0 g
( )Tj
ET
0.934 g
472.05 711.45 20.16 -11.04 re
f
BT
10.079 0 0 10.079 472.05 702.3301 Tm
0 g
( )Tj
ET
0.934 g
492.45 711.45 15.36 -11.04 re
f
BT
10.079 0 0 10.079 492.45 702.3301 Tm
0 g
( )Tj
ET
0.934 g
508.05 711.45 15.84 -11.04 re
f
BT
10.079 0 0 10.079 508.0499 702.3301 Tm
0 g
( )Tj
ET
0.934 g
524.13 711.45 20.16 -11.04 re
f
BT
10.079 0 0 10.079 524.1299 702.3301 Tm
0 g
( )Tj
-45.29 -1.1192 TD
1.7502 Tw
[( Amount)-25725( )-2262.1( )1738.3(\(12.8)-12.6(\))-2167.2( )-1309.6( )1238.2(\(.3)-12.4(\))]TJ
ET
0.934 g
67.65 688.89 19.92 -11.04 re
f
BT
10.079 0 0 10.079 67.65 679.7701 Tm
0 g
0 Tw
( )Tj
ET
0.934 g
87.81 688.89 292.08 -11.04 re
f
BT
10.079 0 0 10.079 87.81 679.7701 Tm
0 g
(Per share)Tj
ET
0.934 g
380.13 688.89 20.16 -11.04 re
f
BT
10.079 0 0 10.079 380.13 679.7701 Tm
0 g
( )Tj
ET
0.934 g
400.53 688.89 24.96 -11.04 re
f
BT
10.079 0 0 10.079 423.09 679.7701 Tm
0 g
( )Tj
ET
0.934 g
425.73 688.89 20.88 -11.04 re
f
BT
10.079 0 0 10.079 425.73 679.7701 Tm
0 g
(\(1.27)Tj
ET
0.934 g
446.85 688.89 24.96 -11.04 re
f
BT
10.079 0 0 10.079 446.85 679.7701 Tm
0 g
(\))Tj
ET
0.934 g
472.05 688.89 20.16 -11.04 re
f
BT
10.079 0 0 10.079 472.05 679.7701 Tm
0 g
( )Tj
ET
0.934 g
492.45 688.89 15.36 -11.04 re
f
BT
10.079 0 0 10.079 505.41 679.7701 Tm
0 g
( )Tj
ET
0.934 g
508.05 688.89 15.84 -11.04 re
f
BT
10.079 0 0 10.079 508.0499 679.7701 Tm
0 g
(\(.03)Tj
ET
0.934 g
524.13 688.89 20.16 -11.04 re
f
BT
10.079 0 0 10.079 524.1299 679.7701 Tm
0 g
(\))Tj
-49.4571 -2.5241 TD
(     The pre-tax loss for the first quarter 2002 was $20.2 million, an earnings decrease of $4.2 million from first quarter 200)Tj
49.0985 0 TD
(1. The )Tj
-49.0985 -1.1192 TD
(decrease in earnings was primarily due to: )Tj
0 -2.524 TD
( )Tj
/F2 1 Tf
1.6906 0 TD
()Tj
/F12 1 Tf
0.5477 0 TD
[( )-1416.8(Pellet sales margin was a loss of $15.4 million in 2002 compared to a loss of $14.2 million in 2001, summarized as follows:)]TJ
12 0 0 12 67.65 604.6501 Tm
1.33 Tc
[(  )-13120(   )-180( )-400(   )-180( )-400( )-20( )380( )100( )380( )-20( )1280(  )]TJ
7.439 0 0 7.439 67.65 594.5701 Tm
2.2987 Tc
[(  )-21164( )]TJ
/F13 1 Tf
40.3923 0.0323 TD
0 Tc
(\(In Millions\))Tj
/F12 1 Tf
16.9699 -0.0323 TD
2.331 Tc
[(  )2097.1( )32.3( )]TJ
-57.3622 -1.1292 TD
2.2987 Tc
[(  )-21164( )]TJ
ET
0.5 g
281.97 586.89 212.16 -0.48 re
f
BT
7.439 0 0 7.439 494.37 586.17 Tm
0 g
2.331 Tc
[(  )2097.1( )32.3( )]TJ
-57.3622 -1.226 TD
2.2987 Tc
[(  )-21164(   )-290.4( )-645.3(   )-290.4( )-645.3( )]TJ
/F13 1 Tf
53.394 0.0323 TD
0 Tc
(Increase \(Decrease\))Tj
/F12 1 Tf
-53.394 -1.1614 TD
2.2987 Tc
[(  )-21164(   )-290.4( )-645.3(   )-290.4( )-645.3( )]TJ
ET
0.5 g
447.81 569.37 96.48 -0.48 re
f
BT
7.439 0 0 7.439 67.65 559.53 Tm
0 g
[(  )-21164( )]TJ
/F13 1 Tf
32.0686 0.0323 TD
0 Tc
(2002)Tj
/F12 1 Tf
5.3233 -0.0323 TD
( )Tj
/F13 1 Tf
5.8072 0.0323 TD
(2001)Tj
/F12 1 Tf
5.3233 -0.0323 TD
( )Tj
/F13 1 Tf
3.9683 0.0323 TD
(Amount)Tj
/F12 1 Tf
4.8716 -0.0323 TD
( )Tj
/F13 1 Tf
3.0004 0.0323 TD
(Percent)Tj
/F12 1 Tf
-60.3626 -1.1614 TD
2.2987 Tc
[(  )-21164( )]TJ
ET
0.5 g
281.97 551.85 63.6 -0.48 re
f
BT
7.439 0 0 7.439 345.81 551.1301 Tm
0 g
0 Tc
( )Tj
ET
0.5 g
364.77 551.85 63.6 -0.48 re
f
BT
7.439 0 0 7.439 428.61 551.1301 Tm
0 g
( )Tj
ET
0.5 g
447.81 551.85 46.32 -0.48 re
f
BT
7.439 0 0 7.439 494.37 551.1301 Tm
0 g
( )Tj
ET
0.5 g
513.57 551.85 30.72 -0.48 re
f
0.934 g
67.65 549.45 195.12 -11.04 re
f
BT
10.079 0 0 10.079 67.65 540.3301 Tm
0 g
(Sales \(tons\))Tj
ET
0.934 g
263.01 549.45 18.72 -11.04 re
f
BT
10.079 0 0 10.079 263.01 540.3301 Tm
0 g
( )Tj
ET
0.934 g
281.97 549.45 18.72 -11.04 re
f
BT
10.079 0 0 10.079 281.97 540.3301 Tm
0 g
( )Tj
ET
0.934 g
300.93 549.45 20.88 -11.04 re
f
BT
10.079 0 0 10.079 309.33 540.3301 Tm
0 g
(1.3)Tj
ET
0.934 g
322.05 549.45 23.52 -11.04 re
f
BT
10.079 0 0 10.079 322.05 540.3301 Tm
0 g
( )Tj
ET
0.934 g
345.81 549.45 18.72 -11.04 re
f
BT
10.079 0 0 10.079 345.81 540.3301 Tm
0 g
( )Tj
ET
0.934 g
364.77 549.45 18.72 -11.04 re
f
BT
10.079 0 0 10.079 364.77 540.3301 Tm
0 g
( )Tj
ET
0.934 g
383.73 549.45 20.88 -11.04 re
f
BT
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( )Tj
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0.934 g
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0.934 g
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(%)Tj
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19.1328 Tc
[(  )17501.7( )]TJ
ET
0.5 g
300.93 534.09 20.88 -2.88 re
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BT
10.079 0 0 10.079 322.05 529.05 Tm
0 g
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[(  )476.3( )]TJ
ET
0.5 g
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BT
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[(  )452.5( )]TJ
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[(  )-476.2( )]TJ
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( )Tj
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[(Revenue from product sales and services*)-2527.3( )-3012.2($)-333.4(47.9)-12.2( )-2107.4( )-3012.2($)-333.4(20.9)-12.2( )-2107.4( )-2583.6($27.0)-12.2( )-1178.7( )-1750.2( )-392.9(129%)]TJ
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(Cost of goods sold and operating expenses*)Tj
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( )Tj
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( )Tj
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BT
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(63.3)Tj
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0.934 g
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( )Tj
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0.934 g
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10.079 0 0 10.079 345.81 506.4901 Tm
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( )Tj
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0.934 g
364.77 515.61 18.72 -11.04 re
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( )Tj
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( )Tj
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0.934 g
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( )Tj
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0.934 g
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( )Tj
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0.934 g
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0.934 g
479.97 515.61 14.16 -11.04 re
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( )Tj
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0.934 g
494.37 515.61 18.96 -11.04 re
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( )Tj
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( )Tj
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0.934 g
517.17 515.61 18.72 -11.04 re
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10.079 0 0 10.079 526.0499 506.4901 Tm
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(80)Tj
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0.934 g
536.13 515.61 8.16 -11.04 re
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(%)Tj
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19.1328 Tc
[(  )17501.7( )]TJ
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0.5 g
300.93 499.05 20.88 -0.48 re
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BT
10.079 0 0 10.079 322.05 495.2101 Tm
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[(  )476.3( )]TJ
ET
0.5 g
383.73 499.05 20.88 -0.48 re
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BT
10.079 0 0 10.079 404.85 495.2101 Tm
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[(  )452.5( )]TJ
ET
0.5 g
462.21 499.05 17.52 -0.48 re
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BT
10.079 0 0 10.079 479.97 495.2101 Tm
0 g
1.1787 Tc
[(  )-476.2( )1071.5( )-452.4( )]TJ
-40.9087 -1.1192 TD
0 Tc
[( )-1631.1(Sales margin \(loss\))-9836.3( )-3012.2($\(15.4)-12.6(\))-2024.4( )-3012.2($\(14.2)-12.6(\))-2024.4( )-2583.6($)-166.7(\(1.2)-12.5(\))-1095.7( )-1654.9( )-107.2(N/M)7.8( )]TJ
T*
19.1328 Tc
[(  )17501.7( )]TJ
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0.5 g
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f
BT
10.079 0 0 10.079 322.05 472.6501 Tm
0 g
2.1074 Tc
[(  )476.3( )]TJ
ET
0.5 g
383.73 477.69 20.88 -2.88 re
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BT
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[(  )452.5( )]TJ
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BT
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[(  )-476.2( )]TJ
ET
0.5 g
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BT
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0 g
0 Tc
( )Tj
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[( )-1440.6(*)-47.7( )-1416.8(Excludes revenues and cost of goods sold and operating expenses related to freight and minority interest.)]TJ
27.5741 -2.6907 TD
(8)Tj
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[( )-1440.6( )-297.7( )-1416.8(Higher cost of sales was partially offset by a modest increase in average price realization. Included in 2002 cost of goods )]TJ
52.5567 0 TD
(sold )Tj
-48.6516 -1.1191 TD
(and operating expenses was approximately $14 million of fixed costs related to production curtailments versus $4 million in )Tj
T*
(2001.)Tj
-3.9051 -1.1192 TD
( )Tj
T*
( )Tj
/F2 1 Tf
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()Tj
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[( )-1416.8(Royalties and management fees from partners decreased $6.6 million from last year mainly due to the suspension of operations )]TJ
1.6668 -1.1191 TD
(at Empire Mine in 2002, and the Company)Tj
/F2 1 Tf
17.1084 0 TD
(’)Tj
/F12 1 Tf
0.333 0 TD
(s increased ownership in Tilden Mine in 2002. Also, royalties and fees paid by the )Tj
-17.4414 -1.1192 TD
(Company as a partner in the mines, which were previously reported in both revenues and cost of goods sold and operating )Tj
T*
(expenses, have been eliminated. As a result, first quarter 2001 revenues from royalties and management fees and cost of goods )Tj
T*
(sold have been restated by a $.9 million reduction. This had no effect on earnings.)Tj
-3.9051 -1.1191 TD
( )Tj
T*
( )Tj
/F2 1 Tf
1.6906 0 TD
()Tj
/F12 1 Tf
0.5477 0 TD
[( )-1416.8(The loss from CAL of $3.3 million, or $2.6 million net of minorit)]TJ
ET
q
65.01 849.45 521.76 -11.28 re
W* n
BT
10.079 0 0 10.079 329.5709 840.3301 Tm
(y)Tj
ET
Q
BT
10.079 0 0 10.079 334.6099 840.3301 Tm
( interest, in the first three months of 2002 com)Tj
ET
q
65.01 849.45 521.76 -11.28 re
W* n
BT
10.079 0 0 10.079 521.5995 840.3301 Tm
(p)Tj
ET
Q
BT
10.079 0 0 10.079 526.6385 840.3301 Tm
(ared to a loss )Tj
-45.8008 -1.1192 TD
(of $5.8 million, or $4.6 million net of minority interest, in the first three months of 2001. The $2.0 million improvement for )Tj
T*
(2002 reflects cost reduction efforts including an approximate 30 percent reduction in employees and fixed cost reductions from )Tj
T*
(critical suppliers.)Tj
-3.9051 -1.1192 TD
( )Tj
T*
( )Tj
/F2 1 Tf
1.6906 0 TD
()Tj
/F12 1 Tf
0.5477 0 TD
[( )-1416.8(Administrative, selling and general expense was $1.2 million higher in the first quarter of 2002 compared to the same period i)]TJ
52.0443 0 TD
(n )Tj
-50.3774 -1.1192 TD
(2001 reflecting non-recurring reductions in certain executive compensation plans in 2001.)Tj
-3.9051 -1.1192 TD
( )Tj
T*
( )Tj
/F2 1 Tf
1.6906 0 TD
()Tj
/F12 1 Tf
0.5477 0 TD
[( )-1416.8(Other income was $.9 million higher in 2002 principally due to higher sales of non-strategic assets.)]TJ
-2.2383 -1.1191 TD
( )Tj
T*
( )Tj
/F2 1 Tf
1.6906 0 TD
()Tj
/F12 1 Tf
0.5477 0 TD
[( )-1416.8(Other expenses in 2002 were $1.2 million lower than 2001. Included in first quarter 2001 results was a $1.9 million pre-tax )]TJ
1.6668 -1.1192 TD
(charge for restructuring activities.)Tj
-3.9051 -1.1191 TD
( )Tj
T*
( )Tj
/F2 1 Tf
1.6906 0 TD
()Tj
/F12 1 Tf
0.5477 0 TD
[( )-1416.8(Interest income was unchanged from 2001, while interest expense was lower due to lower interest rates partially offset by )]TJ
1.6668 -1.1192 TD
(increased borrowings under the revolving credit facility.)Tj
/F13 1 Tf
-3.9051 -2.5955 TD
-0.0001 Tc
0.0001 Tw
(CASH FLOW AND LIQUIDITY)Tj
/F12 1 Tf
0 -2.5717 TD
0 Tc
0 Tw
(     At March 31, 2002, the Company had total liquidity \(cash and bank credit availability\) of $142.1 million compared to $90.5)Tj
50.8804 0 TD
( million )Tj
-50.8804 -1.1192 TD
(at March 31, 2001. Since December 31, 2001, cash and cash equivalents decreased $41.7 million, primarily due to the seasonal in)Tj
51.8753 0 TD
(crease )Tj
-51.8753 -1.1191 TD
(in product iron ore pellet inventories, $41.5 million, cash deficit from operations before changes in operating assets and liab)Tj
49.5715 0 TD
(ilities, )Tj
-49.5715 -1.1192 TD
($8.8 million, investment in a power-related joint venture, $6.0 million, and capital expenditures, $4.8 million, partially offs)Tj
49.2705 0 TD
(et by lower )Tj
-49.2705 -1.1192 TD
(receivables, $8.6 million. )Tj
27.5741 -2.6907 TD
(9)Tj
ET
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18.21 989.85 575.76 -454.08 re
f
BT
/F12 1 Tf
12 0 0 12 25.65 979.05 Tm
0 g
0 Tc
0 Tw
(                  )Tj
10.079 0 0 10.079 25.65 953.13 Tm
(     At the end of March, there were 4.2 million tons of pellets in inventory at a cost of $126 million, an increase of 1.2 mil)Tj
48.7956 0 TD
(lion tons, or )Tj
-48.7956 -1.1191 TD
($42 million, from December 31, 2001, reflecting normal seasonal patterns. Pellet inventory at March 31, 2001 was 5.7 million to)Tj
51.5733 0 TD
(ns, or )Tj
-51.5733 -1.1192 TD
($161 million. )Tj
/F13 1 Tf
0 -2.5955 TD
-0.0001 Tc
0.0001 Tw
(IRON ORE)Tj
/F12 1 Tf
0 -2.5717 TD
0 Tc
0 Tw
(     Iron ore pellet production at the Company)Tj
/F2 1 Tf
18.0794 0 TD
(’)Tj
/F12 1 Tf
0.333 0 TD
(s managed mines in the first quarter of 2002 was 4.6 million tons compared to 6.9 million )Tj
-18.4123 -1.1191 TD
(tons in 2001. The Company)Tj
/F2 1 Tf
11.138 0 TD
(’)Tj
/F12 1 Tf
0.333 0 TD
(s share of 2002 production of 2.5 million tons in the first quarter was .3 million tons lower than first quarter )Tj
-11.471 -1.1192 TD
(of 2001. The 2.3 million ton decrease in total production was principally due to production curtailment at the Empire Mine. The)Tj
51.1844 0 TD
( Empire )Tj
-51.1844 -1.1192 TD
(Mine, which was idled in the fourth quarter of 2001 and the entire first quarter of 2002, resumed production on April 8. The Hi)Tj
50.8204 0 TD
(bbing )Tj
-50.8204 -1.1192 TD
(Mine was idle for four weeks in the first quarter 2002 and six weeks in the first quarter of 2001. The Northshore Mine curtaile)Tj
50.4854 0 TD
(d )Tj
-50.4854 -1.1192 TD
(production in both years by only operating its two larger pelletizing lines. Current year production at the Wabush Mine is behi)Tj
50.5174 0 TD
(nd last )Tj
-50.5174 -1.1191 TD
(year due to a lower planned operating rate and production problems attributable to severe weather conditions in January. Produc)Tj
51.2903 0 TD
(tion for )Tj
-51.2903 -1.1192 TD
(the full year is expected to be about 27 million tons, with the Company)Tj
/F2 1 Tf
28.4404 0 TD
(’)Tj
/F12 1 Tf
0.333 0 TD
(s share to be about 14 million tons. Production schedules at all )Tj
-28.7734 -1.1192 TD
(mines remain subject to change. )Tj
0 -2.524 TD
(     On January 31, 2002, the Company completed the previously announced acquisition of a 45 percent ownership interest in the )Tj
51.5993 0 TD
(Tilden )Tj
-51.5993 -1.1192 TD
(Mine from Algoma Steel Inc. \()Tj
/F2 1 Tf
12.3859 0 TD
(“)Tj
/F12 1 Tf
0.444 0 TD
(Algoma)Tj
/F2 1 Tf
3.2217 0 TD
(”)Tj
/F12 1 Tf
0.444 0 TD
(\) for the assumption of Tilden liabilities of approximately $14 million. The acquisition )Tj
-16.4955 -1.1192 TD
(increased the Company)Tj
/F2 1 Tf
9.3861 0 TD
(’)Tj
/F12 1 Tf
0.333 0 TD
(s ownership in the mine to 85 percent, and annual production capacity by 3.5 million tons to 6.6 million tons. )Tj
-9.7191 -1.1191 TD
(Concurrently, the Company and Algoma have also agreed to terms for a pellet sales agreement that makes the Company the sole sup)Tj
53.0422 0 TD
(plier )Tj
-53.0422 -1.1192 TD
(of iron ore pellets purchased by Algoma for a 15-year period. Sales to Algoma are expected to approach 3 million tons in 2002. )Tj
0 -2.5241 TD
(     On March 5, 2002, a subsidiary of LTV Corporation \()Tj
/F2 1 Tf
22.8279 0 TD
(“)Tj
/F12 1 Tf
0.444 0 TD
-0.0001 Tc
(LTV)Tj
/F2 1 Tf
1.9438 0 TD
0 Tc
(”)Tj
/F12 1 Tf
0.444 0 TD
(\) rejected its 25 percent interest in the Empire Mine. Previously, LTV )Tj
-25.6597 -1.1191 TD
(filed for protection under Chapter 11 of the U.S. Bankruptcy Code on December 29, 2000, and in November, 2001, discontinued mee)Tj
53.4312 0 TD
(ting )Tj
-53.4312 -1.1192 TD
(its Empire obligations. As a result, Empire operations were idled in mid-November while the remaining partners \(Ispat Inland In)Tj
51.4323 0 TD
(c., )Tj
-51.4323 -1.1192 TD
(40 percent, and the Company, 35 percent\) assessed their alternatives. On April 8, 2002, production was resumed on a reduced ope)Tj
52.0123 0 TD
(rating )Tj
-52.0123 -1.1192 TD
(plan for the year 2002, with Ispat Inland Inc. and the Company funding fixed obligations in proportion to their ownership. )Tj
0 -2.524 TD
(     On April 12, 2002, the Company announced that it had signed a long-term agreement to supply iron ore pellets to Internatio)Tj
50.7954 0 TD
(nal Steel )Tj
-50.7954 -1.1192 TD
(Group Inc. \()Tj
/F2 1 Tf
4.9146 0 TD
(“)Tj
/F12 1 Tf
0.444 0 TD
(ISG)Tj
/F2 1 Tf
1.6109 0 TD
(”)Tj
/F12 1 Tf
0.444 0 TD
(\), which had purchased the principal steel making and finishing assets of LTV. Under terms of the agreement, the )Tj
-7.4133 -1.1192 TD
(Company will be the sole supplier of pellets purchased by ISG for a 15-year period beginning in 2002. The Company also announce)Tj
52.9322 0 TD
(d )Tj
-52.9322 -1.1192 TD
(that it has invested $13 million in ISG common stock, representing approximately 7 percent of ISG)Tj
/F2 1 Tf
39.7154 0 TD
(’)Tj
/F12 1 Tf
0.333 0 TD
(s equity. Pellet sales to ISG in 2002 )Tj
-40.0484 -1.1192 TD
(are expected to be between 1.5 and 2 million tons, dependent on ISG)Tj
/F2 1 Tf
27.5485 0 TD
(’)Tj
/F12 1 Tf
0.333 0 TD
(s actual production scale-up. Sales over the remainder of the )Tj
-27.8815 -1.1192 TD
(contract term will depend on ISG)Tj
/F2 1 Tf
13.3578 0 TD
(’)Tj
/F12 1 Tf
0.333 0 TD
(s pellet requirements. ISG has announced that it )Tj
13.6452 -2.6907 TD
(10)Tj
ET
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/GS1 gs
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18.21 989.85 575.76 -500.64 re
f
BT
/F12 1 Tf
12 0 0 12 25.65 979.05 Tm
0 g
0 Tc
0 Tw
(                  )Tj
10.079 0 0 10.079 25.65 953.13 Tm
(plans to produce over 4.5 million tons of flat rolled steel annually. At this production level, the annual pellet requirements )Tj
49.0186 0 TD
(are expected )Tj
-49.0186 -1.1191 TD
(to be about 5 million tons. )Tj
0 -2.524 TD
(     Pellet sales in the first quarter of 2002 were 1.3 million tons compared to .5 million tons in 2001. While there continues)Tj
49.0756 0 TD
( to be )Tj
-49.0756 -1.1192 TD
(uncertainty regarding the pellet requirements of customers, sales volume for 2002 is currently forecasted to be 13 million tons)Tj
50.4044 0 TD
(. )Tj
-50.4044 -2.524 TD
(     The Company)Tj
/F2 1 Tf
6.9434 0 TD
(’)Tj
/F12 1 Tf
0.333 0 TD
(s share of capital expenditures at the five mining ventures and supporting operations is expected to approximate )Tj
-7.2763 -1.1192 TD
($20 million in 2002, with $4.8 million having occurred through March 31, 2002. )Tj
/F13 1 Tf
0 -2.5955 TD
-0.0001 Tc
0.0001 Tw
(FERROUS METALLICS)Tj
/F12 1 Tf
0 -2.5717 TD
0 Tc
0 Tw
(     CAL operations remained idle during the first quarter of 2002 due to weak market conditions. The Company)Tj
/F2 1 Tf
44.7119 0 TD
(’)Tj
/F12 1 Tf
0.333 0 TD
(s share of idle costs was )Tj
-45.0449 -1.1192 TD
($2.6 million on a pre-tax basis. Holding costs have been reduced while protecting the assets and retaining a highly skilled cor)Tj
50.1555 0 TD
(e )Tj
-50.1555 -1.1192 TD
(workforce. In the first quarter of 2001, the Company)Tj
/F2 1 Tf
21.0491 0 TD
(’)Tj
/F12 1 Tf
0.333 0 TD
(s share of CAL)Tj
/F2 1 Tf
6.0814 0 TD
(’)Tj
/F12 1 Tf
0.333 0 TD
(s pre-operating costs was $4.6 million on a pre-tax basis. )Tj
-27.7965 -2.524 TD
(     The market for ferrous metallics products continues to be weak, but demand and pricing are expected to improve as the glob)Tj
50.9854 0 TD
(al steel )Tj
-50.9854 -1.1192 TD
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(tunities )Tj
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