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Quarterly report pursuant to Section 13 or 15(d)

ENVIRONMENTAL AND MINE CLOSURE OBLIGATIONS (Tables)

v3.3.0.814
ENVIRONMENTAL AND MINE CLOSURE OBLIGATIONS (Tables)
9 Months Ended
Sep. 30, 2015
Environmental Remediation Obligations [Abstract] Ìý
Summary Of Mine Closure Obligations
The following is a summary of the obligations as of SeptemberÌý30, 2015 and DecemberÌý31, 2014:
Ìý
(In Millions)
Ìý
SeptemberÌý30,
2015
Ìý
DecemberÌý31,
2014
Environmental
$
4.3

Ìý
$
5.5

Mine closure
Ìý
Ìý
Ìý
LTVSMC
23.9

Ìý
22.9

Operating mines:
Ìý
Ìý
Ìý
U.S. Iron Ore
171.5

Ìý
120.9

Asia Pacific Iron Ore
15.6

Ìý
21.5

Total mine closure
211.0

Ìý
165.3

Total environmental and mine closure obligations
215.3

Ìý
170.8

Less current portion
3.4

Ìý
5.2

Long term environmental and mine closure obligations
$
211.9

Ìý
$
165.6

Asset Retirement Obligation Disclosure
The following represents a rollforward of our asset retirement obligation liability related to our active mining locations for the nine months ended SeptemberÌý30, 2015 and for the year ended DecemberÌý31, 2014:
Ìý
(In Millions)
Ìý
SeptemberÌý30,
2015
Ìý
December 31,
2014 (1)
Asset retirement obligation at beginning of period
$
142.4

Ìý
$
177.6

Accretion expense
4.5

Ìý
5.7

Exchange rate changes
(1.7
)
Ìý
(2.4
)
Revision in estimated cash flows
41.9

Ìý
(38.5
)
Asset retirement obligation at end of period
$
187.1

Ìý
$
142.4


(1) Represents a 12-month rollforward of our asset retirement obligation at December 31, 2014.