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Quarterly report pursuant to Section 13 or 15(d)

SEGMENT REPORTING (Tables)

v3.7.0.1
SEGMENT REPORTING (Tables)
 3 Months Ended
Mar. 31, 2017
Segment Reporting [Abstract] Ìý
Schedule Of Segment Reporting Information, By Segment
The following tables present a summary of our reportable segments for the three months ended MarchÌý31, 2017 and 2016, 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
March 31,
Ìý
2017
Ìý
2016
Revenues from product sales and services:
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
U.S. Iron Ore
$
286.2

Ìý
62
%
Ìý
$
185.5

Ìý
61
%
Asia Pacific Iron Ore
175.4

Ìý
38
%
Ìý
120.0

Ìý
39
%
Total revenues from product sales and services
$
461.6

Ìý
100
%
Ìý
$
305.5

Ìý
100
%
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Sales margin:
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
U.S. Iron Ore
$
48.4

Ìý
Ìý
Ìý
$
13.2

Ìý
Ìý
Asia Pacific Iron Ore
47.3

Ìý
Ìý
Ìý
17.7

Ìý
Ìý
Sales margin
95.7

Ìý
Ìý
Ìý
30.9

Ìý
Ìý
Other operating expense
(13.8
)
Ìý
Ìý
Ìý
(31.2
)
Ìý
Ìý
Other income (expense)
(114.0
)
Ìý
Ìý
Ìý
122.1

Ìý
Ìý
Income (loss) from continuing operations before income taxes
$
(32.1
)
Ìý
Ìý
Ìý
$
121.8

Ìý
Ìý
Ìý
(In Millions)
Ìý
Three Months Ended
March 31,
Ìý
2017
Ìý
2016
Net Income (Loss)
$
(29.8
)
Ìý
$
116.8

Less:
Ìý
Ìý
Ìý
Interest expense, net
(42.8
)
Ìý
(56.8
)
Income tax benefit (expense)
1.8

Ìý
(7.6
)
Depreciation, depletion and amortization
(23.2
)
Ìý
(35.2
)
EBITDA
$
34.4

Ìý
$
216.4

Less:
Ìý
Ìý
Ìý
Gain (loss) on extinguishment/restructuring of debt
(71.9
)
Ìý
178.8

Foreign exchange remeasurement
13.6

Ìý
(1.2
)
Impact of discontinued operations
0.5

Ìý
2.6

Severance and contractor termination costs
—

Ìý
(0.1
)
Adjusted EBITDA
$
92.2

Ìý
$
36.3

Ìý
Ìý
Ìý
Ìý
EBITDA:
Ìý
Ìý
Ìý
U.S. Iron Ore
$
57.9

Ìý
$
41.4

Asia Pacific Iron Ore
51.4

Ìý
22.3

Other
(74.9
)
Ìý
152.7

Total EBITDA
$
34.4

Ìý
$
216.4

Ìý
Ìý
Ìý
Ìý
Adjusted EBITDA:
Ìý
Ìý
Ìý
U.S. Iron Ore
$
64.1

Ìý
$
46.1

Asia Pacific Iron Ore
53.8

Ìý
23.0

Other
(25.7
)
Ìý
(32.8
)
Total Adjusted EBITDA
$
92.2

Ìý
$
36.3

Ìý
(In Millions)
Ìý
Three Months Ended
March 31,
Ìý
2017
Ìý
2016
Depreciation, depletion and amortization:
Ìý
Ìý
Ìý
U.S. Iron Ore
$
16.4

Ìý
$
26.9

Asia Pacific Iron Ore
4.7

Ìý
6.8

Other
2.1

Ìý
1.5

Total depreciation, depletion and amortization
$
23.2

Ìý
$
35.2

Ìý
Ìý
Ìý
Ìý
Capital additions:
Ìý
Ìý
Ìý
U.S. Iron Ore
$
27.1

Ìý
$
4.5

Asia Pacific Iron Ore
0.2

Ìý
—

Other
—

Ìý
2.3

Total capital additions1
$
27.3

Ìý
$
6.8

Ìý
Ìý
Ìý
Ìý
1 Includes cash paid for capital additions of $27.9 million and $10.4 million and a decrease in non-cash accruals of $0.6 million and $3.6 million for the three months ended March 31, 2017 and 2016, respectively.
Summary of Assets by Segment
A summary of assets by segment is as follows:
Ìý
(In Millions)
Ìý
MarchÌý31,
2017
Ìý
DecemberÌý31,
2016
Assets:
Ìý
Ìý
Ìý
U.S. Iron Ore
$
1,440.6

Ìý
$
1,372.5

Asia Pacific Iron Ore
168.4

Ìý
155.1

Total segment assets
1,609.0

Ìý
1,527.6

Corporate
316.7

Ìý
396.3

Total assets
$
1,925.7

Ìý
$
1,923.9