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Annual report pursuant to Section 13 and 15(d)

DISCONTINUED OPERATIONS (Tables)

v3.10.0.1
DISCONTINUED OPERATIONS (Tables)
 12 Months Ended
Dec. 31, 2018
Discontinued Operations and Disposal Groups [Abstract] Ìý
Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures [Table Text Block]
The charts below provide an asset group breakout for each financial statement line impacted by discontinued operations.
Ìý
Ìý
(In Millions)
Ìý
Ìý
Year Ended December 31,
Ìý
Ìý
2018
Ìý
2017
Ìý
2016
Income (loss) from discontinued operations, net of tax
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Asia Pacific Iron Ore
Ìý
$
118.3

Ìý
$
21.2

Ìý
$
96.6

North American Coal
Ìý
(3.6
)
Ìý
2.6

Ìý
(2.4
)
Canadian Operations
Ìý
(26.5
)
Ìý
(21.3
)
Ìý
(17.5
)
Ìý
Ìý
$
88.2

Ìý
$
2.5

Ìý
$
76.7

Ìý
Ìý
(In Millions)
Ìý
Ìý
December 31, 2018
Ìý
December 31, 2017
Ìý
Ìý
Asia Pacific Iron Ore
Ìý
North American Coal
Ìý
Total
Ìý
Asia Pacific Iron Ore
Ìý
North American Coal
Ìý
Total
Current assets of discontinued operations
Ìý
$
12.4

Ìý
$
—

Ìý
$
12.4

Ìý
$
118.5

Ìý
$
—

Ìý
$
118.5

Non-current assets of discontinued operations
Ìý
$
—

Ìý
$
—

Ìý
$
—

Ìý
$
20.3

Ìý
$
—

Ìý
$
20.3

Current liabilities of discontinued operations
Ìý
$
3.8

Ìý
$
2.9

Ìý
$
6.7

Ìý
$
71.8

Ìý
$
3.2

Ìý
$
75.0

Non-current liabilities of discontinued operations
Ìý
$
8.3

Ìý
$
—

Ìý
$
8.3

Ìý
$
52.2

Ìý
$
—

Ìý
$
52.2

Ìý
Ìý
(In Millions)
Ìý
Ìý
Year Ended December 31,
Ìý
Ìý
2018
Ìý
2017
Ìý
2016
Net cash provided (used) by operating activities
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Asia Pacific Iron Ore
Ìý
$
(81.3
)
Ìý
$
79.6

Ìý
$
99.8

Canadian Operations
Ìý
(14.6
)
Ìý
—

Ìý
—

Ìý
Ìý
$
(95.9
)
Ìý
$
79.6

Ìý
$
99.8

Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Net cash provided (used) by investing activities
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Asia Pacific Iron Ore
Ìý
$
19.8

Ìý
$
(2.8
)
Ìý
$
(0.4
)
Canadian Operations
Ìý
—

Ìý
(7.7
)
Ìý
6.8

North American Coal
Ìý
—

Ìý
2.1

Ìý
3.6

Ìý
Ìý
$
19.8

Ìý
$
(8.4
)
Ìý
$
10.0

Schedule of Disposal Groups, including Discontinued Operations, Income Statement [Table Text Block]
For the reasons discussed above, our previously reported Asia Pacific Iron Ore operating segment results for all periods presented, as well as exit costs, are classified as discontinued operations.
Ìý
Ìý
(In Millions)
Ìý
Ìý
Year Ended December 31,
Income from Discontinued Operations
Ìý
2018
Ìý
2017
Ìý
2016
Revenues from product sales and services
Ìý
$
129.1

Ìý
$
464.2

Ìý
$
554.5

Cost of goods sold and operating expenses
Ìý
(230.7
)
Ìý
(427.9
)
Ìý
(440.9
)
Sales margin
Ìý
(101.6
)
Ìý
36.3

Ìý
113.6

Other operating expense
Ìý
(3.3
)
Ìý
(9.9
)
Ìý
(10.4
)
Other expense
Ìý
(2.3
)
Ìý
(5.2
)
Ìý
(6.6
)
Gain on foreign currency translation
Ìý
228.1

Ìý
—

Ìý
—

Impairment of long-lived assets
Ìý
(2.6
)
Ìý
—

Ìý
—

Income from discontinued operations, net of tax
Ìý
$
118.3

Ìý
$
21.2

Ìý
$
96.6

Schedule of Disposal Groups, Including Discontinued Operations, Assets and Liabilities [Table Text Block]
Recorded Assets and Liabilities
Ìý
Ìý
(In Millions)
Assets and Liabilities of Discontinued Operations
Ìý
December 31,
2018
Ìý
December 31,
2017
Cash and cash equivalents
Ìý
$
12.4

Ìý
$
29.4

Accounts receivable, net
Ìý
—

Ìý
33.9

Inventories
Ìý
—

Ìý
45.0

Supplies and other inventories
Ìý
—

Ìý
5.1

Other current assets
Ìý
—

Ìý
5.1

Total current assets of discontinued operations
Ìý
12.4

Ìý
118.5

Property, plant and equipment, net
Ìý
—

Ìý
17.2

Other non-current assets
Ìý
—

Ìý
3.1

Total assets of discontinued operations
Ìý
$
12.4

Ìý
$
138.8

Ìý
Ìý
Ìý
Ìý
Ìý
Accounts payable
Ìý
$
3.4

Ìý
$
28.2

Accrued liabilities
Ìý
0.4

Ìý
28.0

Other current liabilities
Ìý
—

Ìý
15.6

Total current liabilities of discontinued operations
Ìý
3.8

Ìý
71.8

Environmental and mine closure obligations
Ìý
—

Ìý
28.8

Other liabilities
Ìý
8.3

Ìý
23.4

Total liabilities of discontinued operations
Ìý
$
12.1

Ìý
$
124.0

PreTax Exit Costs [Table Text Block]
The chart below provides a breakout of loss from deconsolidation:
Ìý
Ìý
(In Millions)
Ìý
Ìý
Year Ended December 31,
Ìý
Ìý
2018
Ìý
2017
Ìý
2016
Investment impairment on deconsolidation1
Ìý
$
(67.5
)
Ìý
$
3.0

Ìý
$
(17.5
)
Guarantees and contingent liabilities
Ìý
41.0

Ìý
(24.3
)
Ìý
—

Total loss from deconsolidation
Ìý
$
(26.5
)
Ìý
$
(21.3
)
Ìý
$
(17.5
)
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
1 Includes the adjustments to fair value of our remaining interest in the Canadian Entities for the years ended December 31, 2018, 2017 and 2016, and a tax expense resulting from the implementation of the Amended Plan for the year ended December 31, 2018.