XML 80 R41.htm IDEA: XBRL DOCUMENT v2.4.0.6
Long-Term Debt (Details) (USD $)
3 Months Ended 12 Months Ended 24 Months Ended 1 Months Ended 12 Months Ended 12 Months Ended 12 Months Ended 0 Months Ended 12 Months Ended 0 Months Ended 12 Months Ended 1 Months Ended 12 Months Ended 0 Months Ended 12 Months Ended 12 Months Ended 1 Months Ended 12 Months Ended 12 Months Ended 12 Months Ended 12 Months Ended
Sep. 30, 2012
Mar. 31, 2012
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2012
Minnesota Economic Development State Loans
Dec. 31, 2010
Minnesota Economic Development State Loans
Dec. 31, 2011
Minnesota Economic Development State Loans
Dec. 31, 2012
Electric Utility Development Loans
Dec. 31, 2011
Electric Utility Development Loans
Dec. 31, 2012
Mesabi Nugget
Kobe Iron Nugget, LLC (Kobe)
Aug. 31, 2012
7 3/8% senior notes, due 2012
Jan. 31, 2012
7 3/8% senior notes, due 2012
Dec. 31, 2012
7 3/8% senior notes, due 2012
Dec. 31, 2011
7 3/8% senior notes, due 2012
Dec. 31, 2012
5.125% convertible senior notes, due 2014
Dec. 31, 2011
5.125% convertible senior notes, due 2014
Dec. 31, 2012
6 3/4% senior notes, due 2015
Dec. 31, 2011
6 3/4% senior notes, due 2015
Dec. 31, 2012
6 3/4% senior notes, due 2015
Debt redemption on or after April 1, 2012
Dec. 31, 2012
6 3/4% senior notes, due 2015
Debt redemption on or after April 1, 2013
Aug. 31, 2012
7 3/4% senior notes, due 2016
Aug. 16, 2012
7 3/4% senior notes, due 2016
Dec. 31, 2012
7 3/4% senior notes, due 2016
Dec. 31, 2011
7 3/4% senior notes, due 2016
Aug. 16, 2012
6 1/8% senior notes, due 2019
Dec. 31, 2012
6 1/8% senior notes, due 2019
Dec. 31, 2012
6 1/8% senior notes, due 2019
Debt redemption before August 15, 2015
Dec. 31, 2012
6 1/8% senior notes, due 2019
Debt redemption on or after August 15, 2016
Dec. 31, 2012
6 1/8% senior notes, due 2019
Debt redemption on or after August 15, 2017
Dec. 31, 2012
6 1/8% senior notes, due 2019
Debt redemption on or after August 15, 2018
Mar. 31, 2010
7 5/8% senior notes, due 2020
Dec. 31, 2012
7 5/8% senior notes, due 2020
Dec. 31, 2011
7 5/8% senior notes, due 2020
Dec. 31, 2012
7 5/8% senior notes, due 2020
Debt redemption prior to March 15, 2013
Dec. 31, 2012
7 5/8% senior notes, due 2020
Debt redemption after March 15, 2015
Dec. 31, 2012
7 5/8% senior notes, due 2020
Debt redemption on or after March 15, 2016
Dec. 31, 2012
7 5/8% senior notes, due 2020
Debt redemption on or after March 15, 2017
Dec. 31, 2012
7 5/8% senior notes, due 2020
Debt redemption on or after March 15, 2018
Aug. 16, 2012
6 3/8% Senior Notes, due 2022
Dec. 31, 2012
6 3/8% Senior Notes, due 2022
Dec. 31, 2012
6 3/8% Senior Notes, due 2022
Debt redemption before August 15, 2015
Dec. 31, 2012
6 3/8% Senior Notes, due 2022
Debt redemption on or after August 15, 2017
Dec. 31, 2012
6 3/8% Senior Notes, due 2022
Debt redemption on or after August 15, 2018
Dec. 31, 2012
6 3/8% Senior Notes, due 2022
Debt redemption on or after August 15, 2019
Dec. 31, 2012
6 3/8% Senior Notes, due 2022
Debt redemption on or after August 15, 2020
Dec. 31, 2012
Other secured obligations
Dec. 31, 2011
Other secured obligations
Dec. 31, 2012
Senior secured revolving credit facility, due 2016
Dec. 31, 2012
Senior secured revolving credit facility, due 2016
Scenario actual
Dec. 31, 2012
Senior secured revolving credit facility, due 2016
Minimum
Dec. 31, 2012
Senior secured revolving credit facility, due 2016
Minimum
Scenario forecasted
Dec. 31, 2012
Senior secured revolving credit facility, due 2016
Minimum
LIBOR
Dec. 31, 2012
Senior secured revolving credit facility, due 2016
Minimum
Prime
Dec. 31, 2012
Senior secured revolving credit facility, due 2016
Maximum
Dec. 31, 2012
Senior secured revolving credit facility, due 2016
Maximum
Scenario forecasted
Dec. 31, 2012
Senior secured revolving credit facility, due 2016
Maximum
LIBOR
Dec. 31, 2012
Senior secured revolving credit facility, due 2016
Maximum
Prime
Jan. 31, 2012
Term Loan maturing in 2016
Dec. 31, 2012
Term Loan maturing in 2016
Dec. 31, 2012
Term Loan maturing in 2016
Minimum
Dec. 31, 2012
Term Loan maturing in 2016
Maximum
Dec. 31, 2012
Senior secured revolving credit facility after amendment
Mesabi Nugget
Dec. 31, 2012
Term loan facilities
Mesabi Nugget
Dec. 31, 2010
Mesabi Nugget Loan Participation
Dec. 31, 2012
Mesabi Nugget Loan Participation
Dec. 31, 2010
Mesabi Nugget Loan Participation
Kobe Iron Nugget, LLC (Kobe)
Dec. 31, 2009
Mesabi Nugget Loan Participation
Kobe Iron Nugget, LLC (Kobe)
agreement
Dec. 31, 2011
Mesabi Nugget Loan Participation
Mesabi Nugget
Dec. 31, 2010
Mesabi Nugget Loan Participation
Mesabi Nugget
Dec. 31, 2010
Mesabi Nugget Loan Participation
Mesabi Nugget
Kobe Iron Nugget, LLC (Kobe)
Dec. 31, 2012
Mesabi Nugget Loan Participation
Mesabi Nugget
Kobe Iron Nugget, LLC (Kobe)
Dec. 31, 2012
Term borrowings entered into by a controlled subsidiary
Dec. 31, 2012
Revolving credit facility entered into by a controlled subsidiary
Long Term Debt                                                                                                                                                    
Total debt     $ 2,202,237,000 $ 2,380,100,000                     $ 700,000,000 $ 287,496,000 $ 287,500,000 $ 500,000,000 $ 500,000,000           $ 500,000,000   $ 400,000,000           $ 350,000,000 $ 350,000,000             $ 350,000,000           $ 53,491,000 $ 42,600,000                       $ 261,250,000                       $ 4,500,000    
Less current maturities     29,631,000 444,078,000                                                                                                                                       901,000    
Long-term debt     2,172,606,000 1,936,022,000                                                                                                                                            
Stated interest rate (as a percent)           3.50%     8.10%           7.375% 5.125% 5.125% 6.75% 6.75%           7.75%   6.125%           7.625% 7.625%             6.375%                                                                  
Debt issued                                                   400,000,000           350,000,000               350,000,000                                     275,000,000                              
Maximum availability of credit facility after April 2013                                                                                                                                                   34,000,000
Maximum borrowing capacity of credit facility                                                                                                 1,100,000,000                           85,000,000 240,000,000                    
Outstanding principal balance           28,800,000   26,500,000 6,400,000 6,900,000                                                                                                                                
Additional amount by which facility size can be increased                                                                                                 125,000,000                                                  
Quarterly principal payment as a percent of the original principal amount                                                                                                                         1.25% 3.75%                        
Effective interest rate ( as a percent)                                                                                                                       2.10%                         3.375%  
Maximum redemption of debt instrument (as a percent)                                                       35.00%             35.00%             35.00%                                                                
Unpaid principal balance payment     3,037,000                                                                                                                 158,000,000                            
Gross amount of debt extinguished                           358,100,000                                                                                                                        
Redemption of debt                       62,200,000 279,700,000 700,000,000               89,500,000 410,500,000 500,000,000                                                                                                    
Overall reduction of outstanding long-term debt due to refinancing activity     175,000,000                                                                                                                                              
Expenses recorded for tender and call premiums, loss on early extinguishment of debt, unamortized debt issuance cost write-off, and tender expenses 26,400,000 13,900,000 40,300,000                                                                                                                                              
Reference rate, description                                                                                                         LIBOR Prime     LIBOR Prime                                
Interest rate added to the base rate (as a percent)                                                                                                         1.00%       2.00% 1.00%                                
Unused commitment fee (as a percent)                                                                                                     0.25%       0.45%                                      
Percent of eligible accounts receivable included in maximum availability of credit facility calculation                                                                                                 85.00%                                                  
Percent of eligible inventories included in maximum availability of credit facility calculation                                                                                                 65.00%                                                  
Availability on the senior secured revolver                                                                                                 1,100,000,000                                                  
Outstanding letters of credit and other obligations which reduce availability                                                                                                 14,000,000                                                  
Consolidated interest coverage ratio                                                                                                   4.05   2.50                                            
Leverage ratio                                                                                                   2.93           5.00                                    
Threshold debt leverage ratio upon exceeding which payment restrictions occur                                                                                                               3.50                                    
Convertible debt, shares, basis for conversion                               0.057845                                                                                                                    
Convertible debt, shares issued                               16,630,206                                                                                                                    
Threshold amount to pay cash dividends or distributions to holders of common stock (in dollars per share)                               $ 0.075                                                                                                                    
Number of consecutive trading days during which the closing price of the entity's common stock must exceed the conversion price for at least 20 or more trading days in order for the notes to be redeemable                               20 days                                                                                                                    
Number of days within 30 consecutive trading days in which the closing price of the entity's common stock must exceed the conversion price for the notes to be redeemable                               30 days                                                                                                                    
Minimum sales price as percentage of conversion price considered for redemption of notes                               130.00%                                                                                                                    
Conversion price per share (in dollars per share)                               $ 17.29                                                                                                                    
Redemption price of debt instrument (as a percent)                               100.00%       101.688% 100.00%             106.125% 103.063% 101.531% 100.00%       107.625% 103.813% 102.542% 101.271% 100.00%     106.375% 103.188% 102.125% 101.063% 100.00%                                                        
Proceeds from debt     1,049,969,000 10,103,000 556,553,000   26,500,000                                                                                                                                      
Principal amount of debt converted                                                                                                                                 130,000,000           30,500,000      
Long Term Debt prior to conversion                                                                                                                                             35,000,000      
Number of term agreements                                                                                                                                       1            
Proceeds from sale of participation interest                                                                                                                                     10,000,000 25,000,000            
Ownership percentage                                                                                                                                         81.00% 81.00%        
Ownership percentage                     19.00%                                                                                                                       19.00% 19.00%    
Debt, weighted average interest rate (as a percent)                                                                                                                                   3.00%                
Interest rate percent after February 2017           5.00%                                                                                                                                        
Period for which adjusted EBITDA is considered for pricing of credit facility                                                                                                 12 months                                                  
Outstanding letters of credit                 4,000,000                                                                                                                                  
Maximum availability of credit facility                                                                                                                                                 $ 10,000,000 $ 24,000,000