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Quarterly report pursuant to Section 13 or 15(d)

ENVIRONMENTAL AND MINE CLOSURE OBLIGATIONS (Tables)

v3.5.0.2
ENVIRONMENTAL AND MINE CLOSURE OBLIGATIONS (Tables)
9 Months Ended
Sep. 30, 2016
Environmental Remediation Obligations [Abstract] Ìý
Summary Of Mine Closure Obligations
The following is a summary of the obligations as of SeptemberÌý30, 2016 and DecemberÌý31, 2015:
Ìý
(In Millions)
Ìý
SeptemberÌý30,
2016
Ìý
DecemberÌý31,
2015
Environmental
$
3.0

Ìý
$
3.6

Mine closure
Ìý
Ìý
Ìý
LTVSMC
25.0

Ìý
24.1

Operating mines:
Ìý
Ìý
Ìý
U.S. Iron Ore
176.8

Ìý
189.9

Asia Pacific Iron Ore
18.0

Ìý
16.4

Total mine closure
219.8

Ìý
230.4

Total environmental and mine closure obligations
222.8

Ìý
234.0

Less current portion
2.6

Ìý
2.8

Long term environmental and mine closure obligations
$
220.2

Ìý
$
231.2

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, 2016 and for the year ended DecemberÌý31, 2015:
Ìý
(In Millions)
Ìý
SeptemberÌý30,
2016
Ìý
December 31,
2015
Asset retirement obligation at beginning of period
$
206.3

Ìý
$
142.4

Accretion expense
8.4

Ìý
6.5

Exchange rate changes
0.9

Ìý
(1.1
)
Revision in estimated cash flows
(20.8
)
Ìý
58.5

Asset retirement obligation at end of period
$
194.8

Ìý
$
206.3