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Quarterly report pursuant to Section 13 or 15(d)

SEGMENT REPORTING (Tables)

v3.5.0.2
SEGMENT REPORTING (Tables)
9 Months Ended
Sep. 30, 2016
Segment Reporting [Abstract] Ìý
Schedule Of Segment Reporting Information, By Segment
The following tables present a summary of our reportable segments for the three and nine months ended SeptemberÌý30, 2016 and 2015, including a reconciliation of segment sales margin to Income (Loss) from Continuing Operations Before Income Taxes and a reconciliation of Net Income (Loss) to EBITDA and Adjusted EBITDA:
Ìý
(In Millions)
Ìý
Three Months Ended
September 30,
Ìý
Nine Months Ended
September 30,
Ìý
2016
Ìý
2015
Ìý
2016
Ìý
2015
Revenues from product sales and services:
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
U.S. Iron Ore
$
428.3

Ìý
77
%
Ìý
$
471.0

Ìý
79
%
Ìý
$
975.5

Ìý
72
%
Ìý
$
1,152.5

Ìý
75
%
Asia Pacific Iron Ore
125.0

Ìý
23
%
Ìý
122.2

Ìý
21
%
Ìý
379.5

Ìý
28
%
Ìý
384.8

Ìý
25
%
Total revenues from product sales and services
$
553.3

Ìý
100
%
Ìý
$
593.2

Ìý
100
%
Ìý
$
1,355.0

Ìý
100
%
Ìý
$
1,537.3

Ìý
100
%
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Sales margin:
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
U.S. Iron Ore
$
66.5

Ìý
Ìý
Ìý
$
48.7

Ìý
Ìý
Ìý
$
149.7

Ìý
Ìý
Ìý
$
177.7

Ìý
Ìý
Asia Pacific Iron Ore
18.9

Ìý
Ìý
Ìý
6.4

Ìý
Ìý
Ìý
58.1

Ìý
Ìý
Ìý
15.5

Ìý
Ìý
Sales margin
85.4

Ìý
Ìý
Ìý
55.1

Ìý
Ìý
Ìý
207.8

Ìý
Ìý
Ìý
193.2

Ìý
Ìý
Other operating expense
(50.7
)
Ìý
Ìý
Ìý
(25.9
)
Ìý
Ìý
Ìý
(98.7
)
Ìý
Ìý
Ìý
(66.4
)
Ìý
Ìý
Other income (expense)
(66.9
)
Ìý
Ìý
Ìý
17.4

Ìý
Ìý
Ìý
8.3

Ìý
Ìý
Ìý
221.7

Ìý
Ìý
Income (loss) from continuing operations before income taxes
$
(32.2
)
Ìý
Ìý
Ìý
$
46.6

Ìý
Ìý
Ìý
$
117.4

Ìý
Ìý
Ìý
$
348.5

Ìý
Ìý
Ìý
(In Millions)
Ìý
Three Months Ended
September 30,
Ìý
Nine Months Ended
September 30,
Ìý
2016
Ìý
2015
Ìý
2016
Ìý
2015
Net Income (Loss)
$
(27.8
)
Ìý
$
6.0

Ìý
$
118.5

Ìý
$
(690.5
)
Less:
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Interest expense, net
(48.7
)
Ìý
(62.3
)
Ìý
(156.2
)
Ìý
(170.7
)
Income tax benefit (expense)
7.1

Ìý
4.8

Ìý
1.7

Ìý
(167.3
)
Depreciation, depletion and amortization
(26.8
)
Ìý
(35.6
)
Ìý
(88.9
)
Ìý
(99.1
)
EBITDA
$
40.6

Ìý
$
99.1

Ìý
$
361.9

Ìý
$
(253.4
)
Less:
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Impairment of other long-lived assets
$
—


$
—


$
—


$
(3.3
)
Impact of discontinued operations
(2.7
)
Ìý
(44.8
)
Ìý
(0.6
)
Ìý
(865.9
)
Gain (loss) on extinguishment/restructuring of debt
(18.3
)
Ìý
79.2

Ìý
164.1

Ìý
392.9

Severance and contractor termination costs
—

Ìý
2.2

Ìý
(0.1
)
Ìý
(9.3
)
Foreign exchange remeasurement
(0.3
)
Ìý
2.4

Ìý
(1.2
)
Ìý
15.2

Adjusted EBITDA
$
61.9

Ìý
$
60.1

Ìý
$
199.7

Ìý
$
217.0

Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
EBITDA:
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
U.S. Iron Ore
$
61.1

Ìý
$
69.2

Ìý
$
196.6

Ìý
$
239.6

Asia Pacific Iron Ore
21.2

Ìý
11.1

Ìý
69.6

Ìý
38.7

Other
(41.7
)
Ìý
18.8

Ìý
95.7

Ìý
(531.7
)
Total EBITDA
$
40.6

Ìý
$
99.1

Ìý
$
361.9

Ìý
$
(253.4
)
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Adjusted EBITDA:
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
U.S. Iron Ore
$
65.3

Ìý
$
72.3

Ìý
$
208.6

Ìý
$
254.6

Asia Pacific Iron Ore
23.7

Ìý
9.7

Ìý
73.2

Ìý
32.8

Other
(27.1
)
Ìý
(21.9
)
Ìý
(82.1
)
Ìý
(70.4
)
Total Adjusted EBITDA
$
61.9

Ìý
$
60.1

Ìý
$
199.7

Ìý
$
217.0

Ìý
(In Millions)
Ìý
Three Months Ended
September 30,
Ìý
Nine Months Ended
September 30,
Ìý
2016
Ìý
2015
Ìý
2016
Ìý
2015
Depreciation, depletion and amortization:
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
U.S. Iron Ore
$
18.8

Ìý
$
27.9

Ìý
$
65.1

Ìý
$
71.6

Asia Pacific Iron Ore
6.3

Ìý
6.1

Ìý
19.2

Ìý
19.1

Other
1.7

Ìý
1.6

Ìý
4.6

Ìý
5.2

Total depreciation, depletion and amortization
$
26.8

Ìý
$
35.6

Ìý
$
88.9

Ìý
$
95.9

Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Capital additions1:
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
U.S. Iron Ore
$
25.8

Ìý
$
15.0

Ìý
$
39.5

Ìý
$
35.8

Asia Pacific Iron Ore
0.2

Ìý
0.3

Ìý
0.2

Ìý
4.8

Other
0.4

Ìý
2.4

Ìý
4.8

Ìý
6.0

Total capital additions
$
26.4

Ìý
$
17.7

Ìý
$
44.5

Ìý
$
46.6

ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý
1ÌýÌýÌýÌýIncludes capital lease additions and non-cash accruals. Refer to NOTE 17 - CASH FLOW INFORMATION.
Summary of Assets by Segment
A summary of assets by segment is as follows:
Ìý
(In Millions)
Ìý
SeptemberÌý30,
2016
Ìý
DecemberÌý31,
2015
Assets:
Ìý
Ìý
Ìý
U.S. Iron Ore
$
1,429.0

Ìý
$
1,476.4

Asia Pacific Iron Ore
137.7

Ìý
202.5

Total segment assets
1,566.7

Ìý
1,678.9

Corporate
206.2

Ìý
441.7

Assets of Discontinued Operations
—

Ìý
14.9

Total assets
$
1,772.9

Ìý
$
2,135.5