ÐÇ¿Õ´«Ã½

Quarterly report pursuant to Section 13 or 15(d)

SEGMENT REPORTING (Tables)

v3.2.0.727
SEGMENT REPORTING (Tables)
6 Months Ended
Jun. 30, 2015
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 six months ended JuneÌý30, 2015 and 2014, including a reconciliation of segment sales margin to Income (Loss) from Continuing Operations Before Income Taxes and Equity Loss from Ventures and a reconciliation of Net Income (Loss) to EBITDA and Adjusted EBITDA:
Ìý
(In Millions)
Ìý
Three Months Ended
June 30,
Ìý
Six Months Ended
June 30,
Ìý
2015
Ìý
2014
Ìý
2015
Ìý
2014
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
$
369.7

Ìý
74
%
Ìý
$
514.6

Ìý
69
%
Ìý
$
681.5

Ìý
72
%
Ìý
$
875.9

Ìý
64
%
Asia Pacific Iron Ore
128.4

Ìý
26
%
Ìý
233.1

Ìý
31
%
Ìý
262.6

Ìý
28
%
Ìý
487.3

Ìý
36
%
Total revenues from product sales and services
$
498.1

Ìý
100
%
Ìý
$
747.7

Ìý
100
%
Ìý
$
944.1

Ìý
100
%
Ìý
$
1,363.2

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
$
49.0

Ìý
Ìý
Ìý
$
147.2

Ìý
Ìý
Ìý
$
129.0

Ìý
Ìý
Ìý
$
242.2

Ìý
Ìý
Asia Pacific Iron Ore
8.3

Ìý
Ìý
Ìý
36.0

Ìý
Ìý
Ìý
9.1

Ìý
Ìý
Ìý
102.3

Ìý
Ìý
Eliminations with discontinued operations
—

Ìý
Ìý
Ìý
0.3

Ìý
Ìý
Ìý
—

Ìý
Ìý
Ìý
29.0

Ìý
Ìý
Sales margin
57.3

Ìý
Ìý
Ìý
183.5

Ìý
Ìý
Ìý
138.1

Ìý
Ìý
Ìý
373.5

Ìý
Ìý
Other operating expense
(31.6
)
Ìý
Ìý
Ìý
(44.2
)
Ìý
Ìý
Ìý
(40.5
)
Ìý
Ìý
Ìý
(95.0
)
Ìý
Ìý
Other income (expense)
(65.7
)
Ìý
Ìý
Ìý
(40.5
)
Ìý
Ìý
Ìý
204.3

Ìý
Ìý
Ìý
(80.1
)
Ìý
Ìý
Income (loss) from continuing operations before income taxes and equity loss from ventures
$
(40.0
)
Ìý
Ìý
Ìý
$
98.8

Ìý
Ìý
Ìý
$
301.9

Ìý
Ìý
Ìý
$
198.4

Ìý
Ìý
Ìý
(In Millions)
Ìý
Three Months Ended
June 30,
Ìý
Six Months Ended
June 30,
Ìý
2015
Ìý
2014
Ìý
2015
Ìý
2014
Net Income (Loss)
$
65.2

Ìý
$
14.5

Ìý
$
(696.5
)
Ìý
$
(56.2
)
Less:
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Interest expense, net
(64.3
)
Ìý
(44.8
)
Ìý
(108.5
)
Ìý
(87.5
)
Income tax benefit (expense)
2.9

Ìý
69.1

Ìý
(172.1
)
Ìý
90.9

Depreciation, depletion and amortization
(30.5
)
Ìý
(145.3
)
Ìý
(63.5
)
Ìý
(286.4
)
EBITDA
$
157.1

Ìý
$
135.5

Ìý
$
(352.4
)
Ìý
$
226.8

Less:
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Impact of discontinued operations
$
103.0

Ìý
$
(76.0
)
Ìý
$
(821.1
)
Ìý
$
(194.1
)
Gain on extinguishment of debt
—

Ìý
—

Ìý
313.7

Ìý
—

Severance and contractor termination costs
(10.0
)
Ìý
(6.2
)
Ìý
(11.6
)
Ìý
(16.6
)
Foreign exchange remeasurement
(0.8
)
Ìý
(6.0
)
Ìý
12.7

Ìý
(17.5
)
Adjusted EBITDA
$
64.9

Ìý
$
223.7

Ìý
$
153.9

Ìý
$
455.0

Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
EBITDA:
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
U.S. Iron Ore
$
68.8

Ìý
$
172.7

Ìý
$
170.4

Ìý
$
296.3

Asia Pacific Iron Ore
9.6

Ìý
66.1

Ìý
27.6

Ìý
151.4

Other
78.7

Ìý
(103.3
)
Ìý
(550.4
)
Ìý
(220.9
)
Total EBITDA
$
157.1

Ìý
$
135.5

Ìý
$
(352.4
)
Ìý
$
226.8

Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Adjusted EBITDA:
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
U.S. Iron Ore
$
77.2

Ìý
$
178.7

Ìý
$
182.3

Ìý
$
309.6

Asia Pacific Iron Ore
17.4

Ìý
76.7

Ìý
23.1

Ìý
175.8

Other
(29.7
)
Ìý
(31.7
)
Ìý
(51.5
)
Ìý
(30.4
)
Total Adjusted EBITDA
$
64.9

Ìý
$
223.7

Ìý
$
153.9

Ìý
$
455.0

Ìý
(In Millions)
Ìý
Three Months Ended
June 30,
Ìý
Six Months Ended
June 30,
Ìý
2015
Ìý
2014
Ìý
2015
Ìý
2014
Depreciation, depletion and amortization:
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
U.S. Iron Ore
$
22.0

Ìý
$
26.6

Ìý
$
43.7

Ìý
$
55.3

Asia Pacific Iron Ore
6.7

Ìý
42.3

Ìý
13.0

Ìý
81.4

Other
1.8

Ìý
2.0

Ìý
3.6

Ìý
3.9

Total depreciation, depletion and amortization
$
30.5

Ìý
$
70.9

Ìý
$
60.3

Ìý
$
140.6

Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Capital additions1:
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
U.S. Iron Ore
$
11.3

Ìý
$
14.0

Ìý
$
20.8

Ìý
$
28.9

Asia Pacific Iron Ore
1.1

Ìý
2.0

Ìý
4.5

Ìý
5.2

Other
3.2

Ìý
1.9

Ìý
3.6

Ìý
2.8

Total capital additions
$
15.6

Ìý
$
17.9

Ìý
$
28.9

Ìý
$
36.9

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
JuneÌý30,
2015
Ìý
DecemberÌý31,
2014
Assets:
Ìý
Ìý
Ìý
U.S. Iron Ore
$
1,629.7

Ìý
$
1,464.9

Asia Pacific Iron Ore
238.3

Ìý
274.6

Other
31.3

Ìý
147.0

Total segment assets
1,899.3

Ìý
1,886.5

Corporate
559.6

Ìý
546.8

Assets of Discontinued Operations
150.5

Ìý
730.7

Total assets
$
2,609.4

Ìý
$
3,164.0