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Annual report pursuant to Section 13 and 15(d)

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Tables)

v3.3.1.900
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Tables)
12 Months Ended
Dec. 31, 2015
Estimated Useful Lives Of Intangible Assets Subject To Periodic Amortization On Straight Line Basis Table [Text Block]
Other intangible assets are subject to periodic amortization on a straight-line basis over their estimated useful lives as follows:
Intangible Assets
Ìý
Basis
Ìý
Useful Life (years)
Permits - Asia Pacific Iron Ore
Ìý
Units of production
Ìý
Life of mine
Permits - USIO
Ìý
Straight line
Ìý
28
Schedule Of Subsidiaries
The consolidated financial statements include our accounts and the accounts of our wholly owned and majority-owned subsidiaries, including the following operations at December 31, 2015:
Name
Ìý
Location
Ìý
Ownership Interest
Ìý
Operation
Ìý
Status of Operations
Northshore
Ìý
Minnesota
Ìý
100.0%
Ìý
Iron Ore
Ìý
Active
United Taconite
Ìý
Minnesota
Ìý
100.0%
Ìý
Iron Ore
Ìý
Active
Tilden
Ìý
Michigan
Ìý
85.0%
Ìý
Iron Ore
Ìý
Active
Empire
Ìý
Michigan
Ìý
79.0%
Ìý
Iron Ore
Ìý
Active
Koolyanobbing
Ìý
Western Australia
Ìý
100.0%
Ìý
Iron Ore
Ìý
Active
Depreciation Disclosure [Table Text Block]
Depreciation is provided over the following estimated useful lives:
Asset Class
Ìý
Basis
Ìý
Life
Buildings
Ìý
Straight line
Ìý
45 Years
Mining equipment
Ìý
Straight line/Double declining balance
Ìý
3ÌýtoÌý20ÌýYears
Processing equipment
Ìý
Straight line
Ìý
10 to 45 Years
Electric power facilities
Ìý
Straight line
Ìý
10 to 45 years
Land improvements
Ìý
Straight line
Ìý
20 to 45 years
Office and information technology
Ìý
Straight line
Ìý
3 to 15 Years
Schedule of Equity Method Investments
The following table presents the detail of our investments in unconsolidated ventures and where those investments are classified in the Statements of Consolidated Financial Position as of DecemberÌý31, 2015 and DecemberÌý31, 2014. Parentheses indicate a net liability.
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
(In Millions)
Investment
Ìý
Classification
Ìý
Accounting
Method
Ìý
Ownership Interest
Ìý
DecemberÌý31,
2015
Ìý
DecemberÌý31, 2014
Hibbing
Ìý
Other liabilities (1)
Ìý
Equity Method
Ìý
23%
Ìý
$
(2.4
)
Ìý
$
3.1

Other (2)
Ìý
Other non-current assets
Ìý
Equity Method
Ìý
Various
Ìý
—

Ìý
1.0

Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
$
(2.4
)
Ìý
$
4.1

ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý
(1)ÌýÌýÌýÌýAt December 31, 2014, the classification for Hibbing was Other non-current assets.
(2)ÌýÌýÌýÌýAt December 31, 2015, no Other equity method investments remain.
Reimbursements Revenue Disclosure [Table Text Block]
The following table is a summary of reimbursements in our U.S. Iron Ore operations for the years ended DecemberÌý31, 2015, 2014 and 2013:
Ìý
Ìý
(In Millions)
Ìý
Ìý
Year Ended December 31,
Ìý
Ìý
2015
Ìý
2014
Ìý
2013
Reimbursements for:
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Freight
Ìý
$
105.3

Ìý
$
163.0

Ìý
$
177.3

Venture partners’ cost
Ìý
52.0

Ìý
108.0

Ìý
82.2

Total reimbursements
Ìý
$
157.3

Ìý
$
271.0

Ìý
$
259.5