|
The Company has two reportable
segments offering different iron products and services
to the steel industry. Iron Ore is the Company’s
dominant segment. The Ferrous Metallics segment consists
of the HBI project in Trinidad and Tobago and other
developmental activities. “Other” includes
non-reportable segments, the insurance claim recovery,
the long-term investment write-down of publicly traded
common stock, unallocated corporate administrative
expense and other income and expense.
| |
(In
Millions)
|
| |
Iron
Ore |
Ferrous
Metallics |
Segments
Total |
Other |
Consolidated
Total |
|
|
|
|
|
|
| 2000 |
|
|
|
|
|
| Sales and services to external customers |
$379.4 |
$ |
$379.4 |
$ |
$379.4 |
| Royalties and management fees(1) |
50.7 |
|
50.7 |
|
50.7 |
|
|
|
|
|
|
| Total operating revenues |
430.1 |
|
430.1 |
|
430.1 |
|
|
|
|
|
|
| Income (loss) before taxes |
46.2 |
(16.4) |
29.8 |
(13.2) |
16.6 |
| Depreciation and amortization(2) |
25.6 |
|
25.6 |
|
25.6 |
| Pre-operating loss of CAL(3) |
|
(13.3) |
(13.3) |
|
(13.3) |
| Investments in associated companies |
138.4 |
|
138.4 |
|
138.4 |
| Other identifiable assets |
428.8 |
128.3 |
557.1 |
32.3 |
589.4 |
|
|
|
|
|
|
| Total assets |
567.2 |
128.3 |
695.5 |
32.3 |
727.8 |
|
|
|
|
|
|
| Property expenditures(2) |
18.3 |
5.1 |
23.4 |
|
23.4 |
| |
|
|
|
|
|
| 1999 |
|
|
|
|
|
| Sales and services to external customers |
$316.1 |
$ |
$316.1 |
$ |
$316.1 |
| Royalties and management fees(1) |
48.5 |
|
48.5 |
|
48.5 |
|
|
|
|
|
|
| Total operating revenues |
364.6 |
|
364.6 |
|
364.6 |
|
|
|
|
|
|
| Income (loss) before taxes |
31.7 |
(11.7) |
20.0 |
(15.3) |
4.7 |
| Depreciation and amortization(2) |
22.5 |
|
22.5 |
|
22.5 |
| Pre-operating loss of CAL(3) |
|
(8.8) |
(8.8) |
|
(8.8) |
| Investments in associated companies |
149.3 |
84.1 |
233.4 |
|
233.4 |
| Other identifiable assets |
423.3 |
1.5 |
424.8 |
21.5 |
446.3 |
|
|
|
|
|
|
| Total assets |
572.6 |
85.6 |
658.2 |
21.5 |
679.7 |
|
|
|
|
|
|
| Property expenditures(2) |
20.8 |
11.2 |
32.0 |
|
32.0 |
| |
|
|
|
|
|
| 1998 |
|
|
|
|
|
| Sales and services to external customers |
$465.7 |
$ |
$465.7 |
$ |
$465.7 |
| Royalties and management fees(1) |
49.7 |
|
49.7 |
|
49.7 |
|
|
|
|
|
|
| Total operating revenues |
515.4 |
|
515.4 |
|
515.4 |
|
|
|
|
|
|
| Income (loss) before taxes |
91.6 |
(5.5) |
86.1 |
(14.3) |
71.8 |
| Depreciation and amortization(2) |
20.3 |
|
20.3 |
|
20.3 |
| Pre-operating loss of CAL(3) |
|
(2.3) |
(2.3) |
|
(2.3) |
| Investments in associated companies |
156.0 |
79.4 |
235.4 |
|
235.4 |
| Other identifiable assets |
468.3 |
0.8 |
469.1 |
19.3 |
488.4 |
|
|
|
|
|
|
| Total assets |
624.3 |
80.2 |
704.5 |
19.3 |
723.8 |
|
|
|
|
|
|
| Property expenditures(2) |
31.7 |
16.7 |
48.4 |
|
48.4 |
(1) Includes revenue from the Company’s share of ventures’ production that is recognized when the product is sold.
(2) Includes Company’s share of associated companies.
(3) Includes equity losses from CAL through November 20, 2000 and consolidated losses, net of minority interest, thereafter. Included in income (loss) before taxes. |
Included
in the consolidated financial statements
are the following amounts relating to
geographic locations:
| |
(In
Millions)
|
| |
2000 |
1999 |
1998 |
|
|
|
|
| Revenue(1) |
|
|
|
| United
States |
$380.8 |
$321.0 |
$465.9 |
| Canada |
38.7 |
36.4 |
42.1 |
| Other
Countries |
10.6 |
7.2 |
7.4 |
|
|
|
|
| |
$430.1 |
$364.6 |
$515.4 |
|
|
|
|
| Long-Lived Assets(2) |
|
|
|
| United
States |
$296.5 |
$295.9 |
$298.1 |
| Canada |
15.0 |
16.0 |
16.8 |
| Trinidad
and Tobago |
119.1 |
76.8 |
65.6 |
|
|
|
|
| |
$430.6 |
$388.7 |
$380.5 |
(1) Revenue is attributed to countries based
on the location of the customer.
(2) Net properties include Company’s
share of associated companies. |
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