FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

3 Months Ended

Mar. 31, 2013

Fair Value Disclosures [Abstract]

Fair Value Of Assets And Liabilities

The following represents the assets and liabilities of the Company measured at fair value at March 31, 2013 and December 31, 2012:

	(In Millions)
	March 31, 2013
Description	Quoted Prices in Active Markets for Identical Assets/Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Assets:
Cash equivalents	$	135.0	$	—	$	—	$	135.0
Derivative assets	—		—		53.3		53.3
Marketable securities	30.0		—		—		30.0
Foreign exchange contracts	—		13.1		—		13.1
Total	$	165.0	$	13.1	$	53.3	$	231.4
Liabilities:
Derivative liabilities	$	—	$	—	$	6.8	$	6.8
Foreign exchange contracts	—		8.5		—		8.5
Total	$	—	$	8.5	$	6.8	$	15.3

	(In Millions)
	December 31, 2012
Description	Quoted Prices in Active Markets for Identical Assets/Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Assets:
Cash equivalents	$	100.0	$	—	$	—	$	100.0
Derivative assets	—		—		62.4		62.4
Marketable securities	27.0		—		—		27.0
Foreign exchange contracts	—		16.2		—		16.2
Total	$	127.0	$	16.2	$	62.4	$	205.6
Liabilities:
Derivative liabilities	$	—	$	—	$	11.3	$	11.3
Foreign exchange contracts	—		1.9		—		1.9
Total	$	—	$	1.9	$	11.3	$	13.2

Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques

The following table illustrates information about quantitative inputs and assumptions for the derivative assets and derivative liabilities categorized in Level 3 of the fair value hierarchy:

Qualitative/Quantitative Information About Level 3 Fair Value Measurements
($ in millions)	Fair Value at		Balance Sheet Location	Valuation Technique	Unobservable Input	Range (Weighted Average)
	3/31/2013
Provisional Pricing Arrangements	$	3.9	Derivative assets	Market Approach	Managements Estimate of 62% Fe	$137
	$	6.8	Other current liabilities
Customer Supply Agreement	$	49.4	Derivative assets	Market Approach	Hot-Rolled Steel Estimate	$600 - $645 ($630)

Fair Value, Assets and Liabilities Measured On Recurring Basis, Unobservable Input Reconciliation

The following table represents a reconciliation of the changes in fair value of financial instruments measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the three months endedMarch 31, 2013 and 2012.

	(In Millions)
	Derivative Assets (Level 3)						Derivative Liabilities (Level 3)
	Three Months Ended March 31,						Three Months Ended March 31,
	2013			2012			2013			2012
Beginning balance - January 1	$	62.4		$	157.9		$	(11.3	)	$	(19.5	)
Total gains
Included in earnings	28.0			43.3			(6.8		)	(1.1		)
Included in other comprehensive income	—			—			—			—
Settlements	(37.1		)	(132.0		)	11.3			19.5
Transfers into Level 3	—			—			—			—
Transfers out of Level 3	—			—			—			—
Ending balance - March 31	$	53.3		$	69.2		$	(6.8	)	$	(1.1	)
Total gains (losses) for the period included in earnings attributable to the change in unrealized gains (losses) on assets (liabilities) still held at the reporting date	$	28.0		$	43.3		$	(6.8	)	$	(1.1	)

Schedule Of Carrying Value And Fair Value Of Financial Instruments

A summary of the carrying amount and fair value of other financial instruments at March 31, 2013 and December 31, 2012 were as follows:

		(In Millions)
		March 31, 2013				December 31, 2012
	Classification	Carrying Value		Fair Value		Carrying Value		Fair Value
Other receivables:
Customer supplemental payments	Level 2	$	16.7	$	16.1	$	22.3	$	21.3
ArcelorMittal USA—Receivable	Level 2	17.4		19.1		19.3		21.3
Other	Level 2	10.5		10.5		10.9		10.9
Total receivables		$	44.6	$	45.7	$	52.5	$	53.5
Long-term debt:
Term loan—$1.25 billion	Level 2	$	—	$	—	$	753.0	$	753.0
Senior notes—$700 million	Level 2	699.4		751.4		699.4		759.4
Senior notes—$1.3 billion	Level 2	1,289.4		1,513.2		1,289.4		1,524.7
Senior notes—$400 million	Level 2	398.3		458.8		398.2		464.3
Senior notes—$500 million	Level 2	495.9		527.7		495.7		528.4
Revolving loan	Level 2	550.0		550.0		325.0		325.0
Total long-term debt		$	3,433.0	$	3,801.1	$	3,960.7	$	4,354.8

Fair Value, Assets Measured on Nonrecurring Basis

The following table presents information about the impairment charges on both financial and nonfinancial assets that were measured on a fair value basis for the year ended December 31, 2012. The table also indicates the fair value hierarchy of the valuation techniques used to determine such fair value. We had no financial assets and liabilities measured at fair value on a non-recurring basis at March 31, 2013.

	(In Millions)
	December 31, 2012
Description	Quoted Prices in Active Markets for Identical Assets/Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Assets:
Investment in ventures impairment -      Amapá	$	—	$	—	$	72.5	$	72.5