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Quarterly report pursuant to Section 13 or 15(d)

SEGMENT REPORTING (Tables)

v3.4.0.3
SEGMENT REPORTING (Tables)
 3 Months Ended
Mar. 31, 2016
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, 2016 and 2015, including a reconciliation of segment sales margin to Income 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
2016
Ìý
2015
Revenues from product sales and services:
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
U.S. Iron Ore
$
185.5

Ìý
61
%
Ìý
$
311.8

Ìý
70
%
Asia Pacific Iron Ore
120.0

Ìý
39
%
Ìý
134.2

Ìý
30
%
Total revenues from product sales and services
$
305.5

Ìý
100
%
Ìý
$
446.0

Ìý
100
%
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Sales margin:
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
U.S. Iron Ore
$
13.2

Ìý
Ìý
Ìý
$
80.0

Ìý
Ìý
Asia Pacific Iron Ore
17.7

Ìý
Ìý
Ìý
0.8

Ìý
Ìý
Sales margin
30.9

Ìý
Ìý
Ìý
80.8

Ìý
Ìý
Other operating expense
(31.2
)
Ìý
Ìý
Ìý
(8.9
)
Ìý
Ìý
Other income
122.1

Ìý
Ìý
Ìý
270.0

Ìý
Ìý
Income from continuing operations before income taxes
$
121.8

Ìý
Ìý
Ìý
$
341.9

Ìý
Ìý
Ìý
(In Millions)
Ìý
Three Months Ended
March 31,
Ìý
2016
Ìý
2015
Net Income (Loss)
$
116.8

Ìý
$
(761.7
)
Less:
Ìý
Ìý
Ìý
Interest expense, net
(56.8
)
Ìý
(44.2
)
Income tax expense
(7.6
)
Ìý
(175.0
)
Depreciation, depletion and amortization
(35.2
)
Ìý
(33.0
)
EBITDA
$
216.4

Ìý
$
(509.5
)
Less:
Ìý
Ìý
Ìý
Impact of discontinued operations
2.6

Ìý
(929.6
)
Gain on extinguishment/restructuring of debt
178.8

Ìý
313.7

Severance and contractor termination costs
(0.1
)
Ìý
(1.5
)
Foreign exchange remeasurement
(1.2
)
Ìý
13.5

Adjusted EBITDA
$
36.3

Ìý
$
94.4

Ìý
Ìý
Ìý
Ìý
EBITDA:
Ìý
Ìý
Ìý
U.S. Iron Ore
$
41.4

Ìý
$
101.6

Asia Pacific Iron Ore
22.3

Ìý
18.0

Other
152.7

Ìý
(629.1
)
Total EBITDA
$
216.4

Ìý
$
(509.5
)
Ìý
Ìý
Ìý
Ìý
Adjusted EBITDA:
Ìý
Ìý
Ìý
U.S. Iron Ore
$
46.1

Ìý
$
105.1

Asia Pacific Iron Ore
23.0

Ìý
5.7

Other
(32.8
)
Ìý
(16.4
)
Total Adjusted EBITDA
$
36.3

Ìý
$
94.4

Ìý
(In Millions)
Ìý
Three Months Ended
March 31,
Ìý
2016
Ìý
2015
Depreciation, depletion and amortization:
Ìý
Ìý
Ìý
U.S. Iron Ore
$
26.9

Ìý
$
21.7

Asia Pacific Iron Ore
6.8

Ìý
6.3

Other
1.5

Ìý
1.8

Total depreciation, depletion and amortization
$
35.2

Ìý
$
29.8

Ìý
Ìý
Ìý
Ìý
Capital additions1:
Ìý
Ìý
Ìý
U.S. Iron Ore
$
4.5

Ìý
$
9.5

Asia Pacific Iron Ore
—

Ìý
3.4

Other
2.3

Ìý
0.4

Total capital additions
$
6.8

Ìý
$
13.3

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
MarchÌý31,
2016
Ìý
DecemberÌý31,
2015
Assets:
Ìý
Ìý
Ìý
U.S. Iron Ore
$
1,475.1

Ìý
$
1,476.4

Asia Pacific Iron Ore
180.6

Ìý
202.5

Total segment assets
1,655.7

Ìý
1,678.9

Corporate
230.1

Ìý
441.7

Assets of Discontinued Operations
0.5

Ìý
14.9

Total assets
$
1,886.3

Ìý
$
2,135.5