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Annual report pursuant to Section 13 and 15(d)

ENVIRONMENTAL AND MINE CLOSURE OBLIGATIONS (Tables)

v3.3.1.900
ENVIRONMENTAL AND MINE CLOSURE OBLIGATIONS (Tables)
12 Months Ended
Dec. 31, 2015
Environmental Remediation Obligations [Abstract] Ìý
Summary Of Mine Closure Obligations
The following is a summary of the obligations as of DecemberÌý31, 2015 and 2014:
Ìý
(In Millions)
Ìý
December 31,
Ìý
2015
Ìý
2014
Environmental
$
3.6

Ìý
$
5.5

Mine closure
Ìý
Ìý
Ìý
LTVSMC
24.1

Ìý
22.9

Operating mines:
Ìý
Ìý
Ìý
U.S. Iron Ore
189.9

Ìý
120.9

Asia Pacific Iron Ore
16.4

Ìý
21.5

Total mine closure
230.4

Ìý
165.3

Total environmental and mine closure obligations
234.0

Ìý
170.8

Less current portion
2.8

Ìý
5.2

Long-term environmental and mine closure obligations
$
231.2

Ìý
$
165.6

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

Ìý
$
177.6

Accretion expense
6.5

Ìý
5.7

Exchange rate changes
(1.1
)
Ìý
(2.4
)
Revision in estimated cash flows
58.5

Ìý
(38.5
)
Asset retirement obligation at end of period
$
206.3

Ìý
$
142.4