ÐÇ¿Õ´«Ã½

Annual report pursuant to Section 13 and 15(d)

SEGMENT REPORTING (Tables)

v3.19.3.a.u2
SEGMENT REPORTING (Tables)
12 Months Ended
Dec. 31, 2019
Segment Reporting [Abstract] Ìý
Schedule Of Segment Reporting Information, By Segment
The following tables present a summary of our reportable segments including a reconciliation of segment revenues to total Revenues from product sales and services, segment sales margin to total Sales margin and a reconciliation of Net income to EBITDA and Adjusted EBITDA:ÌýÌýÌýÌý
Ìý
(In Millions)
Ìý
Year Ended
December 31, 2019
Ìý
Mining and Pelletizing
Ìý
Metallics
Ìý
Total
Operating segment revenues from product sales and services
$
2,069.2

Ìý
$
—

Ìý
$
2,069.2

Elimination of intersegment revenues
(79.3
)
Ìý
—

Ìý
(79.3
)
Total revenues from product sales and services
$
1,989.9

Ìý
$
—

Ìý
$
1,989.9

Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Operating segment sales margin
$
600.0

Ìý
$
—

Ìý
$
600.0

Elimination of intersegment sales margin
(24.3
)
Ìý
—

Ìý
(24.3
)
Total sales margin
$
575.7

Ìý
$
—

Ìý
$
575.7

Revenues from product sales and services of $2,332.4 million and $1,866.0 million, respectively, and sales margin of $809.6 million and $467.6 million, respectively, related to our Mining and Pelletizing segment accounted for all of our consolidated revenues and sales margin for years ended DecemberÌý31, 2018 and DecemberÌý31, 2017.

Ìý
(In Millions)
Ìý
2019
Ìý
2018
Ìý
2017
Net income
$
292.8

Ìý
$
1,128.1

Ìý
$
363.1

Less:
Ìý
Ìý
Ìý
Ìý
Ìý
Interest expense, net
(101.6
)

(121.3
)

(132.0
)
Income tax benefit (expense)
(17.6
)

460.3


252.4

Depreciation, depletion and amortization
(85.1
)

(89.0
)

(87.7
)
Total EBITDA
$
497.1

Ìý
$
878.1

Ìý
$
330.4

Less:
Ìý
Ìý
Ìý
Ìý
Ìý
Impact of discontinued operations
$
(1.3
)
Ìý
$
120.6

Ìý
$
22.0

Loss on extinguishment of debt
(18.2
)
Ìý
(6.8
)
Ìý
(165.4
)
Severance costs
(1.7
)
Ìý
—

Ìý
—

Acquisition costs
(6.5
)
Ìý
—

Ìý
—

Foreign exchange remeasurement
—

Ìý
(0.9
)
Ìý
13.9

Impairment of other long-lived assets
—


(1.1
)

—

Total Adjusted EBITDA
$
524.8

Ìý
$
766.3

Ìý
$
459.9

Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
EBITDA:
Ìý
Ìý
Ìý
Ìý
Ìý
Mining and Pelletizing
$
648.1


$
852.9


$
534.9

Metallics
(8.1
)
Ìý
(3.3
)
Ìý
(0.4
)
Corporate and Other (including discontinued operations)
(142.9
)

28.5


(204.1
)
Total EBITDA
$
497.1

Ìý
$
878.1

Ìý
$
330.4

Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Adjusted EBITDA:
Ìý
Ìý
Ìý
Ìý
Ìý
Mining and Pelletizing
$
668.3

Ìý
$
875.3

Ìý
$
559.4

Metallics
(8.1
)
Ìý
(3.3
)
Ìý
(0.4
)
Corporate
(135.4
)
Ìý
(105.7
)
Ìý
(99.1
)
Total Adjusted EBITDA
$
524.8

Ìý
$
766.3

Ìý
$
459.9

The following table summarizes our depreciation, depletion and amortization and capital additions:
Ìý
(In Millions)
Ìý
2019
Ìý
2018
Ìý
2017
Depreciation, depletion and amortization:
Ìý
Ìý
Ìý
Ìý
Ìý
Mining and Pelletizing
$
79.0

Ìý
$
68.2

Ìý
$
66.6

Metallics
0.6

Ìý
—

Ìý
—

Corporate
5.5

Ìý
5.6

Ìý
6.8

Total depreciation, depletion and amortization
$
85.1

Ìý
$
73.8

Ìý
$
73.4

Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Capital additions1:
Ìý
Ìý
Ìý
Ìý
Ìý
Mining and Pelletizing
$
128.1

Ìý
$
145.0

Ìý
$
136.8

Metallics
558.4

Ìý
248.1

Ìý
13.7

Corporate and Other
3.3

Ìý
1.6

Ìý
2.7

Total capital additions
$
689.8

Ìý
$
394.7

Ìý
$
153.2

Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
1 Refer to NOTE 2 - SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION for additional information.

Summary of Assets by Segment
A summary of assets by segment is as follows:
Ìý
(In Millions)
Ìý
December 31,
Ìý
2019
Ìý
2018
Ìý
2017
Assets:
Ìý
Ìý
Ìý
Ìý
Ìý
Mining and Pelletizing
$
1,643.1

Ìý
$
1,694.1

Ìý
$
1,500.6

Metallics
913.6

Ìý
265.9

Ìý
13.4

Total reportable segment assets
2,556.7

Ìý
1,960.0

Ìý
1,514.0

Corporate and Other
940.1

Ìý
1,557.2

Ìý
1,300.6

Assets of discontinued operations
7.0

Ìý
12.4

Ìý
138.8

Total assets
$
3,503.8

Ìý
$
3,529.6

Ìý
$
2,953.4


Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas
Included in the consolidated financial statements are the following amounts relating to geographic location:
Ìý
(In Millions)
Ìý
2019
Ìý
2018
Ìý
2017
Revenues from product sales and services:
Ìý
Ìý
Ìý
Ìý
Ìý
United States
$
1,505.2

Ìý
$
1,847.3

Ìý
$
1,504.5

Canada
448.1

Ìý
395.1

Ìý
206.2

Other countries
36.6

Ìý
90.0

Ìý
155.3

Total revenues from product sales and services
$
1,989.9

Ìý
$
2,332.4

Ìý
$
1,866.0

Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Property, plant and equipment, net:
Ìý
Ìý
Ìý
Ìý
Ìý
United States
$
1,929.0

Ìý
$
1,286.0

Ìý
$
1,033.8