Segment Reporting

12 Months Ended

Dec. 31, 2011

Segment Reporting [Abstract]

Segment Reporting

NOTE 2 — SEGMENT REPORTING

Our company's primary operations are organized and managed according to product category and geographic location: U.S. Iron Ore, Eastern Canadian Iron Ore, North American Coal, Asia Pacific Iron Ore, Asia Pacific Coal, Latin American Iron Ore, Ferroalloys and our Global Exploration Group. The U.S. Iron Ore segment is comprised of our interests in five U.S. mines that provide iron ore to the integrated steel industry. The Eastern Canadian Iron Ore segment is comprised of two Eastern Canadian mines that primarily provide iron ore to the seaborne market for Asian steel producers. The North American Coal segment is comprised of our five metallurgical coal mines and one thermal coal mine that provide metallurgical coal primarily to the integrated steel industry and thermal coal primarily to the energy industry. The Asia Pacific Iron Ore segment is located in Western Australia and provides iron ore to steel producers in China and Japan. There are no intersegment revenues.

The Asia Pacific Coal operating segment is comprised of our 45 percent economic interest in Sonoma, located in Queensland, Australia. The Latin American Iron Ore operating segment is comprised of our 30 percent Amapá interest in Brazil. The Ferroalloys operating segment is comprised of our interests in chromite deposits held by Freewest and Spider in Northern Ontario, Canada and the Global Exploration Group is focused on early involvement in exploration activities to identify new world-class projects for future development or projects that add significant value to existing operations. The Asia Pacific Coal, Latin American Iron Ore, Ferroalloys and Global Exploration Group operating segments do not meet reportable segment disclosure requirements and therefore are not separately reported.

We evaluate segment performance based on sales margin, defined as revenues less cost of goods sold and operating expenses identifiable to each segment. This measure of operating performance is an effective measurement as we focus on reducing production costs throughout the Company.

The following table presents a summary of our reportable segments for the years ended December 31, 2011, 2010 and 2009, including a reconciliation of segment sales margin to Income from Continuing Operations Before Income Taxes and Equity Income (Loss) from Ventures:

	(In Millions)
	2011					2010					2009
Revenues from product sales and services:
U.S Iron Ore	$	3,509.9		52	%	$	2,443.7		52	%	$	1,211.6		52	%
Eastern Canadian Iron Ore		1,178.1		17	%		477.7		10	%		236.2		10	%
North American Coal		512.1		8	%		438.2		9	%		207.2		9	%
Asia Pacific Iron Ore		1,363.5		20	%		1,123.9		24	%		542.1		23	%
Other		230.7		3	%		198.6		4	%		144.9		6	%
Total revenues from product sales and services for reportable segments	$	6,794.3		100	%	$	4,682.1		100	%	$	2,342.0		100	%
Sales margin:
U.S. Iron Ore	$	1,679.3				$	788.4				$	213.2
Eastern Canadian Iron Ore		290.9					133.6					62.3
North American Coal		(58.4	)				(28.6	)				(71.9	)
Asia Pacific Iron Ore		699.5					566.2					87.2
Other		77.3					66.9					20.9
Sales margin		2,688.6					1,526.5					311.7
Other operating expense		(340.0	)				(256.3	)				(75.6	)
Other income (expense)		(107.1	)				32.8					60.4
Income from continuing operations before income taxes and equity income (loss) from ventures	$	2,241.5				$	1,303.0				$	296.5
Depreciation, depletion and amortization:
U.S. Iron Ore	$	86.2				$	61.7				$	67.4
Easten Canadian Iron Ore		124.6					41.9					6.9
North American Coal		86.5					60.4					38.2
Asia Pacific Iron Ore		100.9					133.9					110.6
Other		28.7					24.4					13.5
Total depreciation, depletion and amortization	$	426.9				$	322.3				$	236.6
Capital additions (1):
U.S. Iron Ore	$	191.4				$	84.7				$	42.6
Eastern Canadian Iron Ore		303.1					18.8					—
North American Coal		181.0					89.5					20.8
Asia Pacific Iron Ore		262.0					53.6					96.2
Other		23.4					29.2					8.6
Total capital additions	$	960.9				$	275.8				$	168.2
Assets:
U.S. Iron Ore	$	1,691.8				$	1,537.1
Eastern Canadian Iron Ore		7,973.1					629.6
North American Coal		1,814.4					1,623.8
Asia Pacific Iron Ore		1,511.2					1,195.3
Other		1,017.6					1,257.8
Total segment assets		14,008.1					6,243.6
Corporate		533.6					1,534.6
Total assets	$	14,541.7				$	7,778.2

(1) Includes capital lease additions.

Included in the consolidated financial statements are the following amounts relating to geographic locations:

	(In Millions)
	2011		2010		2009
Revenue (1)
United States	$	2,774.1	$	1,966.3	$	1,049.5
China		2,123.4		1,262.0		711.5
Canada		914.3		696.5		236.6
Japan		460.4		311.1		157.4
Other countries		522.1		446.2		187.0
Total revenue	$	6,794.3	$	4,682.1	$	2,342.0
Property, Plant and Equipment, Net
United States	$	2,684.9	$	2,498.8
Australia		1,138.3		973.7
Canada		6,701.4		506.7
Total Property, Plant and Equipment, Net	$	10,524.6	$	3,979.2

(1) Revenue is attributed to countries based on the location of the customer and includes both Product sales and services.

Concentrations in Revenue

In 2011, we had one customer that individually accounted for more than 10 percent of our consolidated product revenue. In 2010 and 2009, we had two and one additional customers that individually accounted for more than 10 percent of our consolidated product revenue, respectively. Total revenue from those customers that accounted for more than 10 percent of our consolidated product revenues represents approximately $1.4 billion, $1.8 billion and $0.8 billion of our total consolidated product revenue in 2011, 2010 and 2009, respectively, and is attributable to our U.S. Iron Ore, Eastern Canadian Iron Ore and North American Coal business segments.

The following table represents the percentage of our total revenue contributed by each category of products and services in 2011, 2010 and 2009:

	2011			2010			2009
Revenue Category
Iron ore		85	%		81	%		81	%
Coal		11			13			14
Freight and venture partners' cost reimbursements		4			6			5
Total revenue		100	%		100	%		100	%