Cleveland-Cliffs Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT

6 Months Ended

Jun. 30, 2012

NOTE 5 鈥� PROPERTY, PLANT AND EQUIPMENT

The following table indicates the value of each of the major classes of our consolidated depreciable assets as of June听30, 2012 and December听31, 2011:

听


听	听听	(In Millions)						听
听	听听	June听30, 2012		听	听听	December听31, 2011		听
Land rights and mineral rights	听听	听听$	7,964.1听听	听听	听听	听听$	7,918.9听听	听听
Office and information technology	听听	听	63.9听听	听听	听听	听	67.0听听	听听
Buildings	听听	听	144.7听听	听听	听听	听	132.2听听	听听
Mining equipment	听听	听	1,123.2听听	听听	听听	听	1,323.8听听	听听
Processing equipment	听听	听	1,998.3听听	听听	听听	听	1,441.8听听	听听
Railroad equipment	听听	听	241.5听听	听听	听听	听	164.3听听	听听
Electric power facilities	听听	听	58.2听听	听听	听听	听	57.9听听	听听
Port facilities	听听	听	125.0听听	听听	听听	听	64.1听听	听听
Interest capitalized during construction	听听	听	27.6听听	听听	听听	听	22.5听听	听听
Land improvements	听听	听	31.8听听	听听	听听	听	30.4听听	听听
Other	听听	听	32.5听听	听听	听听	听	43.2听听	听听
Construction in progress	听听	听	667.0听听	听听	听听	听	615.4听听	听听
	听听	听	听	听	听听	听	听	听
	听听	听	12,477.8听听	听听	听听	听	11,881.5听听	听听
Allowance for depreciation and depletion	听听	听	(1,595.7)听	听听	听听	听	(1,356.9)听	听听
	听听	听	听	听	听听	听	听	听
	听听	听听$	10,882.1听听	听听	听听	听听$	听听10,524.6听听	听听
	听听	听	听	听	听听	听	听	听

We recorded depreciation and depletion expense of $125.8 million and $237.2 million in the Statements of Unaudited Condensed Consolidated Operations for the three and six months ended June听30, 2012, respectively. This compares with depreciation and depletion expense of $98.4 million and $170.1 million for the three and six months ended June听30, 2011.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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Quarterly report pursuant to Section 13 or 15(d)

PROPERTY, PLANT AND EQUIPMENT