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Tm 0 g ( )Tj ET 0.934 g 353.73 697.29 27.6 -11.04 re f BT 10.079 0 0 10.079 358.77 688.17 Tm 0 g (200.5)Tj ET 0.934 g 381.57 697.29 15.84 -11.04 re f BT 10.079 0 0 10.079 381.57 688.17 Tm 0 g ( )Tj ET 0.934 g 397.65 697.29 10.56 -11.04 re f BT 10.079 0 0 10.079 397.65 688.17 Tm 0 g ( )Tj ET 0.934 g 408.45 697.29 5.04 -11.04 re f BT 10.079 0 0 10.079 408.45 688.17 Tm 0 g ( )Tj ET 0.934 g 413.73 697.29 27.6 -11.04 re f BT 10.079 0 0 10.079 418.77 688.17 Tm 0 g (121.7)Tj ET 0.934 g 441.57 697.29 5.04 -11.04 re f BT 10.079 0 0 10.079 441.57 688.17 Tm 0 g ( )Tj ET 0.934 g 446.85 697.29 10.56 -11.04 re f BT 10.079 0 0 10.079 446.85 688.17 Tm 0 g ( )Tj ET 0.934 g 457.65 697.29 10.56 -11.04 re f BT 10.079 0 0 10.079 457.65 688.17 Tm 0 g ( )Tj ET 0.934 g 468.45 697.29 27.6 -11.04 re f BT 10.079 0 0 10.079 473.49 688.17 Tm 0 g (412.7)Tj ET 0.934 g 496.29 697.29 15.84 -11.04 re f BT 10.079 0 0 10.079 496.29 688.17 Tm 0 g ( )Tj ET 0.934 g 512.37 697.29 10.56 -11.04 re f BT 10.079 0 0 10.079 512.3699 688.17 Tm 0 g ( )Tj ET 0.934 g 523.17 697.29 10.56 -11.04 re f BT 10.079 0 0 10.079 523.1699 688.17 Tm 0 g ( )Tj ET 0.934 g 533.97 697.29 27.6 -11.04 re f BT 10.079 0 0 10.079 539.0099 688.17 Tm 0 g (244.2)Tj ET 0.934 g 561.81 697.29 10.56 -11.04 re f BT 10.079 0 0 10.079 561.8099 688.17 Tm 0 g ( )Tj -51.8145 -1.1191 TD 0.8215 Tw [( )23.8(Interest )821.5(income)-21786.4( )-1500.2(1.4)-12.1( )-523.9( )-1452.6(.8)-12( )547.6( )-1500.2(3.4)-12.1( )-523.9( )-1500.2(2.8)-12.1( )]TJ ET 0.934 g 39.57 674.73 10.32 -11.04 re f BT 10.079 0 0 10.079 39.57 665.61 Tm 0 g 0 Tw ( )Tj ET 0.934 g 50.13 674.73 281.76 -11.04 re f BT 10.079 0 0 10.079 50.13 665.61 Tm 0 g (Other income)Tj ET 0.934 g 332.13 674.73 10.56 -11.04 re f BT 10.079 0 0 10.079 332.13 665.61 Tm 0 g ( )Tj ET 0.934 g 342.93 674.73 10.56 -11.04 re f BT 10.079 0 0 10.079 342.93 665.61 Tm 0 g ( )Tj ET 0.934 g 353.73 674.73 27.6 -11.04 re f BT 10.079 0 0 10.079 368.85 665.61 Tm 0 g (5.8)Tj ET 0.934 g 381.57 674.73 15.84 -11.04 re f BT 10.079 0 0 10.079 381.57 665.61 Tm 0 g ( )Tj ET 0.934 g 397.65 674.73 10.56 -11.04 re f BT 10.079 0 0 10.079 397.65 665.61 Tm 0 g ( )Tj ET 0.934 g 408.45 674.73 5.04 -11.04 re f BT 10.079 0 0 10.079 408.45 665.61 Tm 0 g ( )Tj ET 0.934 g 413.73 674.73 27.6 -11.04 re f BT 10.079 0 0 10.079 428.85 665.61 Tm 0 g (3.8)Tj ET 0.934 g 441.57 674.73 5.04 -11.04 re f BT 10.079 0 0 10.079 441.57 665.61 Tm 0 g ( )Tj ET 0.934 g 446.85 674.73 10.56 -11.04 re f BT 10.079 0 0 10.079 446.85 665.61 Tm 0 g ( )Tj ET 0.934 g 457.65 674.73 10.56 -11.04 re f BT 10.079 0 0 10.079 457.65 665.61 Tm 0 g ( )Tj ET 0.934 g 468.45 674.73 27.6 -11.04 re f BT 10.079 0 0 10.079 478.53 665.61 Tm 0 g (11.7)Tj ET 0.934 g 496.29 674.73 15.84 -11.04 re f BT 10.079 0 0 10.079 496.29 665.61 Tm 0 g ( )Tj ET 0.934 g 512.37 674.73 10.56 -11.04 re f BT 10.079 0 0 10.079 512.3699 665.61 Tm 0 g ( )Tj ET 0.934 g 523.17 674.73 10.56 -11.04 re f BT 10.079 0 0 10.079 523.1699 665.61 Tm 0 g ( )Tj ET 0.934 g 533.97 674.73 27.6 -11.04 re f BT 10.079 0 0 10.079 549.09 665.61 Tm 0 g (8.4)Tj ET 0.934 g 561.81 674.73 10.56 -11.04 re f BT 10.079 0 0 10.079 561.8099 665.61 Tm 0 g ( )Tj -51.8145 -1.1192 TD 28.7766 Tc [( )27955.1( )]TJ ET 0.5 g 353.73 658.17 27.6 -0.48 re f BT 10.079 0 0 10.079 381.57 654.3301 Tm 0 g 1.3454 Tc [( )523.9( )]TJ ET 0.5 g 413.73 658.17 27.6 -0.48 re f BT 10.079 0 0 10.079 441.57 654.3301 Tm 0 g 0.2739 Tc [( )-547.6( )]TJ ET 0.5 g 468.45 658.17 27.6 -0.48 re f BT 10.079 0 0 10.079 496.29 654.3301 Tm 0 g 1.3454 Tc [( )523.9( )]TJ ET 0.5 g 533.97 658.17 27.6 -0.48 re f BT 10.079 0 0 10.079 561.8099 654.3301 Tm 0 g 0 Tc ( )Tj -51.8145 -1.1192 TD 0.8215 Tw [( )23.8( )23.8( )23.8(Total )821.5(Revenues)-19634.9( )-500.1(207.7)-12.3( )-523.9( )47.6(126.3)-12.3( )547.6( )-500.1(427.8)-12.3( )-523.9( )-500.1(255.4)-12.3( )]TJ ET 0.934 g 39.57 640.89 292.32 -11.04 re f BT 10.079 0 0 10.079 39.57 631.7701 Tm 0 g 0 Tw ( )Tj ET 0.934 g 332.13 640.89 10.56 -11.04 re f BT 10.079 0 0 10.079 332.13 631.7701 Tm 0 g ( )Tj ET 0.934 g 342.93 640.89 10.56 -11.04 re f BT 10.079 0 0 10.079 342.93 631.7701 Tm 0 g ( )Tj ET 0.934 g 353.73 640.89 27.6 -11.04 re f BT 10.079 0 0 10.079 353.73 631.7701 Tm 0 g ( )Tj ET 0.934 g 381.57 640.89 15.84 -11.04 re f BT 10.079 0 0 10.079 381.57 631.7701 Tm 0 g ( )Tj ET 0.934 g 397.65 640.89 10.56 -11.04 re f BT 10.079 0 0 10.079 397.65 631.7701 Tm 0 g ( )Tj ET 0.934 g 408.45 640.89 5.04 -11.04 re f BT 10.079 0 0 10.079 408.45 631.7701 Tm 0 g ( )Tj ET 0.934 g 413.73 640.89 27.6 -11.04 re f BT 10.079 0 0 10.079 413.73 631.7701 Tm 0 g ( )Tj ET 0.934 g 441.57 640.89 5.04 -11.04 re f BT 10.079 0 0 10.079 441.57 631.7701 Tm 0 g ( )Tj ET 0.934 g 446.85 640.89 10.56 -11.04 re f BT 10.079 0 0 10.079 446.85 631.7701 Tm 0 g ( )Tj ET 0.934 g 457.65 640.89 10.56 -11.04 re f BT 10.079 0 0 10.079 457.65 631.7701 Tm 0 g ( )Tj ET 0.934 g 468.45 640.89 27.6 -11.04 re f BT 10.079 0 0 10.079 468.45 631.7701 Tm 0 g ( )Tj ET 0.934 g 496.29 640.89 15.84 -11.04 re f BT 10.079 0 0 10.079 496.29 631.7701 Tm 0 g ( )Tj ET 0.934 g 512.37 640.89 10.56 -11.04 re f BT 10.079 0 0 10.079 512.3699 631.7701 Tm 0 g ( )Tj ET 0.934 g 523.17 640.89 10.56 -11.04 re f BT 10.079 0 0 10.079 523.1699 631.7701 Tm 0 g ( )Tj ET 0.934 g 533.97 640.89 27.6 -11.04 re f BT 10.079 0 0 10.079 533.97 631.7701 Tm 0 g ( )Tj ET 0.934 g 561.81 640.89 10.56 -11.04 re f BT 10.079 0 0 10.079 561.8099 631.7701 Tm 0 g ( )Tj -51.8145 -1.1192 TD -0.0001 Tc 0.8216 Tw [(COSTS )821.5(AND )821.5(EXPENSES)-18304.6( )-1690.7( )-523.9( )547.6( )-1690.7( )547.6( )-1690.7( )-523.9( )-1690.7( )]TJ ET 0.934 g 39.57 618.33 10.32 -11.04 re f BT 10.079 0 0 10.079 39.57 609.2101 Tm 0 g 0 Tc 0 Tw ( )Tj ET 0.934 g 50.13 618.33 281.76 -11.04 re f BT 10.079 0 0 10.079 50.13 609.2101 Tm 0 g (Cost of goods sold and operating expenses)Tj ET 0.934 g 332.13 618.33 10.56 -11.04 re f BT 10.079 0 0 10.079 332.13 609.2101 Tm 0 g ( )Tj ET 0.934 g 342.93 618.33 10.56 -11.04 re f BT 10.079 0 0 10.079 342.93 609.2101 Tm 0 g ( )Tj ET 0.934 g 353.73 618.33 27.6 -11.04 re f BT 10.079 0 0 10.079 353.73 609.2101 Tm 0 g ( )Tj ET 0.934 g 381.57 618.33 15.84 -11.04 re f BT 10.079 0 0 10.079 381.57 609.2101 Tm 0 g ( )Tj ET 0.934 g 397.65 618.33 10.56 -11.04 re f BT 10.079 0 0 10.079 397.65 609.2101 Tm 0 g ( )Tj ET 0.934 g 408.45 618.33 5.04 -11.04 re f BT 10.079 0 0 10.079 408.45 609.2101 Tm 0 g ( )Tj ET 0.934 g 413.73 618.33 27.6 -11.04 re f BT 10.079 0 0 10.079 413.73 609.2101 Tm 0 g ( )Tj ET 0.934 g 441.57 618.33 5.04 -11.04 re f BT 10.079 0 0 10.079 441.57 609.2101 Tm 0 g ( )Tj ET 0.934 g 446.85 618.33 10.56 -11.04 re f BT 10.079 0 0 10.079 446.85 609.2101 Tm 0 g ( )Tj ET 0.934 g 457.65 618.33 10.56 -11.04 re f BT 10.079 0 0 10.079 457.65 609.2101 Tm 0 g ( )Tj ET 0.934 g 468.45 618.33 27.6 -11.04 re f BT 10.079 0 0 10.079 468.45 609.2101 Tm 0 g ( )Tj ET 0.934 g 496.29 618.33 15.84 -11.04 re f BT 10.079 0 0 10.079 496.29 609.2101 Tm 0 g ( )Tj ET 0.934 g 512.37 618.33 10.56 -11.04 re f BT 10.079 0 0 10.079 512.3699 609.2101 Tm 0 g ( )Tj ET 0.934 g 523.17 618.33 10.56 -11.04 re f BT 10.079 0 0 10.079 523.1699 609.2101 Tm 0 g ( )Tj ET 0.934 g 533.97 618.33 27.6 -11.04 re f BT 10.079 0 0 10.079 533.97 609.2101 Tm 0 g ( )Tj ET 0.934 g 561.81 618.33 10.56 -11.04 re f BT 10.079 0 0 10.079 561.8099 609.2101 Tm 0 g ( )Tj -51.8145 -1.1192 TD 0.8215 Tw [( )23.8( )23.8( )23.8(Iron )821.5(ore)-22690.7( )-500.1(191.1)-12.3( )-523.9( )47.6(112.0)-12.3( )547.6( )-500.1(414.0)-12.3( )-523.9( )-500.1(248.1)-12.3( )]TJ ET 0.934 g 39.57 595.77 10.32 -11.04 re f BT 10.079 0 0 10.079 39.57 586.6501 Tm 0 g 0 Tw ( )Tj ET 0.934 g 50.13 595.77 10.32 -11.04 re f BT 10.079 0 0 10.079 50.13 586.6501 Tm 0 g ( )Tj ET 0.934 g 60.69 595.77 10.32 -11.04 re f BT 10.079 0 0 10.079 60.69 586.6501 Tm 0 g ( )Tj ET 0.934 g 71.25 595.77 260.64 -11.04 re f BT 10.079 0 0 10.079 71.25 586.6501 Tm 0 g -0.0001 Tc (HBI)Tj ET 0.934 g 332.13 595.77 10.56 -11.04 re f BT 10.079 0 0 10.079 332.13 586.6501 Tm 0 g 0 Tc ( )Tj ET 0.934 g 342.93 595.77 10.56 -11.04 re f BT 10.079 0 0 10.079 342.93 586.6501 Tm 0 g ( )Tj ET 0.934 g 353.73 595.77 27.6 -11.04 re f BT 10.079 0 0 10.079 353.73 586.6501 Tm 0 g ( )Tj ET 0.934 g 381.57 595.77 15.84 -11.04 re f BT 10.079 0 0 10.079 381.57 586.6501 Tm 0 g ( )Tj ET 0.934 g 397.65 595.77 10.56 -11.04 re f BT 10.079 0 0 10.079 397.65 586.6501 Tm 0 g ( )Tj ET 0.934 g 408.45 595.77 5.04 -11.04 re f BT 10.079 0 0 10.079 408.45 586.6501 Tm 0 g ( )Tj ET 0.934 g 413.73 595.77 27.6 -11.04 re f BT 10.079 0 0 10.079 423.81 586.6501 Tm 0 g (10.7)Tj ET 0.934 g 441.57 595.77 5.04 -11.04 re f BT 10.079 0 0 10.079 441.57 586.6501 Tm 0 g ( )Tj ET 0.934 g 446.85 595.77 10.56 -11.04 re f BT 10.079 0 0 10.079 446.85 586.6501 Tm 0 g ( )Tj ET 0.934 g 457.65 595.77 10.56 -11.04 re f BT 10.079 0 0 10.079 457.65 586.6501 Tm 0 g ( )Tj ET 0.934 g 468.45 595.77 27.6 -11.04 re f BT 10.079 0 0 10.079 468.45 586.6501 Tm 0 g ( )Tj ET 0.934 g 496.29 595.77 15.84 -11.04 re f BT 10.079 0 0 10.079 496.29 586.6501 Tm 0 g ( )Tj ET 0.934 g 512.37 595.77 10.56 -11.04 re f BT 10.079 0 0 10.079 512.3699 586.6501 Tm 0 g ( )Tj ET 0.934 g 523.17 595.77 10.56 -11.04 re f BT 10.079 0 0 10.079 523.1699 586.6501 Tm 0 g ( )Tj ET 0.934 g 533.97 595.77 27.6 -11.04 re f BT 10.079 0 0 10.079 544.0499 586.6501 Tm 0 g (21.0)Tj ET 0.934 g 561.81 595.77 10.56 -11.04 re f BT 10.079 0 0 10.079 561.8099 586.6501 Tm 0 g ( )Tj -51.8145 -1.1192 TD 28.7766 Tc [( )27955.1( )]TJ ET 0.5 g 353.73 579.21 27.6 -0.48 re f BT 10.079 0 0 10.079 381.57 575.3701 Tm 0 g 1.3454 Tc [( )523.9( )]TJ ET 0.5 g 413.73 579.21 27.6 -0.48 re f BT 10.079 0 0 10.079 441.57 575.3701 Tm 0 g 0.2739 Tc [( )-547.6( )]TJ ET 0.5 g 468.45 579.21 27.6 -0.48 re f BT 10.079 0 0 10.079 496.29 575.3701 Tm 0 g 1.3454 Tc [( )523.9( )]TJ ET 0.5 g 533.97 579.21 27.6 -0.48 re f BT 10.079 0 0 10.079 561.8099 575.3701 Tm 0 g 0 Tc ( )Tj -51.8145 -1.1192 TD 0.7977 Tw [( Total)-22724.9( )-23.8( )-523.9(191.1)-12.3( )-547.7( )-23.8( )23.8(122.7)-12.3( )523.8( )-23.8( )-523.9(414.0)-12.3( )-547.7( )-23.8( )-523.9(269.1)-12.3( )]TJ ET 0.934 g 39.57 561.93 10.32 -11.04 re f BT 10.079 0 0 10.079 39.57 552.8101 Tm 0 g 0 Tw ( )Tj ET 0.934 g 50.13 561.93 281.76 -11.04 re f BT 10.079 0 0 10.079 50.13 552.8101 Tm 0 g (Impairment of investment in Cliffs and Associates Limited)Tj ET 0.934 g 332.13 561.93 10.56 -11.04 re f BT 10.079 0 0 10.079 332.13 552.8101 Tm 0 g ( )Tj ET 0.934 g 342.93 561.93 10.56 -11.04 re f BT 10.079 0 0 10.079 342.93 552.8101 Tm 0 g ( )Tj ET 0.934 g 353.73 561.93 27.6 -11.04 re f BT 10.079 0 0 10.079 358.77 552.8101 Tm 0 g (121.5)Tj ET 0.934 g 381.57 561.93 15.84 -11.04 re f BT 10.079 0 0 10.079 381.57 552.8101 Tm 0 g ( )Tj ET 0.934 g 397.65 561.93 10.56 -11.04 re f BT 10.079 0 0 10.079 397.65 552.8101 Tm 0 g ( )Tj ET 0.934 g 408.45 561.93 5.04 -11.04 re f BT 10.079 0 0 10.079 408.45 552.8101 Tm 0 g ( )Tj ET 0.934 g 413.73 561.93 27.6 -11.04 re f BT 10.079 0 0 10.079 413.73 552.8101 Tm 0 g ( )Tj ET 0.934 g 441.57 561.93 5.04 -11.04 re f BT 10.079 0 0 10.079 441.57 552.8101 Tm 0 g ( )Tj ET 0.934 g 446.85 561.93 10.56 -11.04 re f BT 10.079 0 0 10.079 446.85 552.8101 Tm 0 g ( )Tj ET 0.934 g 457.65 561.93 10.56 -11.04 re f BT 10.079 0 0 10.079 457.65 552.8101 Tm 0 g ( )Tj ET 0.934 g 468.45 561.93 27.6 -11.04 re f BT 10.079 0 0 10.079 473.49 552.8101 Tm 0 g (121.5)Tj ET 0.934 g 496.29 561.93 15.84 -11.04 re f BT 10.079 0 0 10.079 496.29 552.8101 Tm 0 g ( )Tj ET 0.934 g 512.37 561.93 10.56 -11.04 re f BT 10.079 0 0 10.079 512.3699 552.8101 Tm 0 g ( )Tj ET 0.934 g 523.17 561.93 10.56 -11.04 re f BT 10.079 0 0 10.079 523.1699 552.8101 Tm 0 g ( )Tj ET 0.934 g 533.97 561.93 27.6 -11.04 re f BT 10.079 0 0 10.079 533.97 552.8101 Tm 0 g ( )Tj ET 0.934 g 561.81 561.93 10.56 -11.04 re f BT 10.079 0 0 10.079 561.8099 552.8101 Tm 0 g ( )Tj -51.8145 -1.1192 TD [( )-797.7(Idle expense and pre-operating loss of Cliffs and Associates Limited)-569.3( )-821.5( )-2321.7(3.4)-12.1( )-1345.4( )-821.5( )-273.9( )-2512.2( )-273.9( )-821.5( )-2321.7(9.4)-12.1( )-1345.4( )-821.5( )-2321.7(5.8)-12.1( )]TJ ET 0.934 g 39.57 539.37 10.32 -11.04 re f BT 10.079 0 0 10.079 39.57 530.2501 Tm 0 g ( )Tj ET 0.934 g 50.13 539.37 281.76 -11.04 re f BT 10.079 0 0 10.079 50.13 530.2501 Tm 0 g (Administrative, selling and general expenses)Tj ET 0.934 g 332.13 539.37 10.56 -11.04 re f BT 10.079 0 0 10.079 332.13 530.2501 Tm 0 g ( )Tj ET 0.934 g 342.93 539.37 10.56 -11.04 re f BT 10.079 0 0 10.079 342.93 530.2501 Tm 0 g ( )Tj ET 0.934 g 353.73 539.37 27.6 -11.04 re f BT 10.079 0 0 10.079 368.85 530.2501 Tm 0 g (5.2)Tj ET 0.934 g 381.57 539.37 15.84 -11.04 re f BT 10.079 0 0 10.079 381.57 530.2501 Tm 0 g ( )Tj ET 0.934 g 397.65 539.37 10.56 -11.04 re f BT 10.079 0 0 10.079 397.65 530.2501 Tm 0 g ( )Tj ET 0.934 g 408.45 539.37 5.04 -11.04 re f BT 10.079 0 0 10.079 408.45 530.2501 Tm 0 g ( )Tj ET 0.934 g 413.73 539.37 27.6 -11.04 re f BT 10.079 0 0 10.079 428.85 530.2501 Tm 0 g (3.9)Tj ET 0.934 g 441.57 539.37 5.04 -11.04 re f BT 10.079 0 0 10.079 441.57 530.2501 Tm 0 g ( )Tj ET 0.934 g 446.85 539.37 10.56 -11.04 re f BT 10.079 0 0 10.079 446.85 530.2501 Tm 0 g ( )Tj ET 0.934 g 457.65 539.37 10.56 -11.04 re f BT 10.079 0 0 10.079 457.65 530.2501 Tm 0 g ( )Tj ET 0.934 g 468.45 539.37 27.6 -11.04 re f BT 10.079 0 0 10.079 478.53 530.2501 Tm 0 g (16.0)Tj ET 0.934 g 496.29 539.37 15.84 -11.04 re f BT 10.079 0 0 10.079 496.29 530.2501 Tm 0 g ( )Tj ET 0.934 g 512.37 539.37 10.56 -11.04 re f BT 10.079 0 0 10.079 512.3699 530.2501 Tm 0 g ( )Tj ET 0.934 g 523.17 539.37 10.56 -11.04 re f BT 10.079 0 0 10.079 523.1699 530.2501 Tm 0 g ( )Tj ET 0.934 g 533.97 539.37 27.6 -11.04 re f BT 10.079 0 0 10.079 544.0499 530.2501 Tm 0 g (11.9)Tj ET 0.934 g 561.81 539.37 10.56 -11.04 re f BT 10.079 0 0 10.079 561.8099 530.2501 Tm 0 g ( )Tj -51.8145 -1.1192 TD 0.8215 Tw [( )23.8(Interest )821.5(expense)-21509.4( )-1500.2(2.0)-12.1( )-523.9( )-952.5(2.8)-12.1( )547.6( )-1500.2(5.6)-12.1( )-523.9( )-1500.2(7.4)-12.1( )]TJ ET 0.934 g 39.57 516.81 10.32 -11.04 re f BT 10.079 0 0 10.079 39.57 507.6901 Tm 0 g 0 Tw ( )Tj ET 0.934 g 50.13 516.81 281.76 -11.04 re f BT 10.079 0 0 10.079 50.13 507.6901 Tm 0 g (Other expenses)Tj ET 0.934 g 332.13 516.81 10.56 -11.04 re f BT 10.079 0 0 10.079 332.13 507.6901 Tm 0 g ( )Tj ET 0.934 g 342.93 516.81 10.56 -11.04 re f BT 10.079 0 0 10.079 342.93 507.6901 Tm 0 g ( )Tj ET 0.934 g 353.73 516.81 27.6 -11.04 re f BT 10.079 0 0 10.079 368.85 507.6901 Tm 0 g (1.3)Tj ET 0.934 g 381.57 516.81 15.84 -11.04 re f BT 10.079 0 0 10.079 381.57 507.6901 Tm 0 g ( )Tj ET 0.934 g 397.65 516.81 10.56 -11.04 re f BT 10.079 0 0 10.079 397.65 507.6901 Tm 0 g ( )Tj ET 0.934 g 408.45 516.81 5.04 -11.04 re f BT 10.079 0 0 10.079 408.45 507.6901 Tm 0 g ( )Tj ET 0.934 g 413.73 516.81 27.6 -11.04 re f BT 10.079 0 0 10.079 433.89 507.6901 Tm 0 g (.9)Tj ET 0.934 g 441.57 516.81 5.04 -11.04 re f BT 10.079 0 0 10.079 441.57 507.6901 Tm 0 g ( )Tj ET 0.934 g 446.85 516.81 10.56 -11.04 re f BT 10.079 0 0 10.079 446.85 507.6901 Tm 0 g ( )Tj ET 0.934 g 457.65 516.81 10.56 -11.04 re f BT 10.079 0 0 10.079 457.65 507.6901 Tm 0 g ( )Tj ET 0.934 g 468.45 516.81 27.6 -11.04 re f BT 10.079 0 0 10.079 483.57 507.6901 Tm 0 g (4.5)Tj ET 0.934 g 496.29 516.81 15.84 -11.04 re f BT 10.079 0 0 10.079 496.29 507.6901 Tm 0 g ( )Tj ET 0.934 g 512.37 516.81 10.56 -11.04 re f BT 10.079 0 0 10.079 512.3699 507.6901 Tm 0 g ( )Tj ET 0.934 g 523.17 516.81 10.56 -11.04 re f BT 10.079 0 0 10.079 523.1699 507.6901 Tm 0 g ( )Tj ET 0.934 g 533.97 516.81 27.6 -11.04 re f BT 10.079 0 0 10.079 549.09 507.6901 Tm 0 g (4.8)Tj ET 0.934 g 561.81 516.81 10.56 -11.04 re f BT 10.079 0 0 10.079 561.8099 507.6901 Tm 0 g ( )Tj -51.8145 -1.1192 TD 28.7766 Tc [( )27955.1( )]TJ ET 0.5 g 353.73 500.25 27.6 -0.48 re f BT 10.079 0 0 10.079 381.57 496.4101 Tm 0 g 1.3454 Tc [( )523.9( )]TJ ET 0.5 g 413.73 500.25 27.6 -0.48 re f BT 10.079 0 0 10.079 441.57 496.4101 Tm 0 g 0.2739 Tc [( )-547.6( )]TJ ET 0.5 g 468.45 500.25 27.6 -0.48 re f BT 10.079 0 0 10.079 496.29 496.4101 Tm 0 g 1.3454 Tc [( )523.9( )]TJ ET 0.5 g 533.97 500.25 27.6 -0.48 re f BT 10.079 0 0 10.079 561.8099 496.4101 Tm 0 g 0 Tc ( )Tj -51.8145 -1.1192 TD 0.8215 Tw [( )23.8( )23.8( )23.8(Total )821.5(Costs )821.5(and )821.5(Expenses)-15579.3( )-500.1(324.5)-12.3( )-523.9( )47.6(130.3)-12.3( )547.6( )-500.1(571.0)-12.3( )-523.9( )-500.1(299.0)-12.3( )]TJ T* 28.7766 Tc 0 Tw [( )27955.1( )]TJ ET 0.5 g 353.73 477.69 27.6 -0.48 re f BT 10.079 0 0 10.079 381.57 473.8501 Tm 0 g 1.3454 Tc [( )523.9( )]TJ ET 0.5 g 413.73 477.69 27.6 -0.48 re f BT 10.079 0 0 10.079 441.57 473.8501 Tm 0 g 0.2739 Tc [( )-547.6( )]TJ ET 0.5 g 468.45 477.69 27.6 -0.48 re f BT 10.079 0 0 10.079 496.29 473.8501 Tm 0 g 1.3454 Tc [( )523.9( )]TJ ET 0.5 g 533.97 477.69 27.6 -0.48 re f BT 10.079 0 0 10.079 561.8099 473.8501 Tm 0 g 0 Tc ( )Tj ET 0.934 g 39.57 471.69 292.32 -11.04 re f BT 10.079 0 0 10.079 39.57 462.5701 Tm 0 g ( )Tj ET 0.934 g 332.13 471.69 10.56 -11.04 re f BT 10.079 0 0 10.079 332.13 462.5701 Tm 0 g ( )Tj ET 0.934 g 342.93 471.69 10.56 -11.04 re f BT 10.079 0 0 10.079 342.93 462.5701 Tm 0 g ( )Tj ET 0.934 g 353.73 471.69 27.6 -11.04 re f BT 10.079 0 0 10.079 353.73 462.5701 Tm 0 g ( )Tj ET 0.934 g 381.57 471.69 15.84 -11.04 re f BT 10.079 0 0 10.079 381.57 462.5701 Tm 0 g ( )Tj ET 0.934 g 397.65 471.69 10.56 -11.04 re f BT 10.079 0 0 10.079 397.65 462.5701 Tm 0 g ( )Tj ET 0.934 g 408.45 471.69 5.04 -11.04 re f BT 10.079 0 0 10.079 408.45 462.5701 Tm 0 g ( )Tj ET 0.934 g 413.73 471.69 27.6 -11.04 re f BT 10.079 0 0 10.079 413.73 462.5701 Tm 0 g ( )Tj ET 0.934 g 441.57 471.69 5.04 -11.04 re f BT 10.079 0 0 10.079 441.57 462.5701 Tm 0 g ( )Tj ET 0.934 g 446.85 471.69 10.56 -11.04 re f BT 10.079 0 0 10.079 446.85 462.5701 Tm 0 g ( )Tj ET 0.934 g 457.65 471.69 10.56 -11.04 re f BT 10.079 0 0 10.079 457.65 462.5701 Tm 0 g ( )Tj ET 0.934 g 468.45 471.69 27.6 -11.04 re f BT 10.079 0 0 10.079 468.45 462.5701 Tm 0 g ( )Tj ET 0.934 g 496.29 471.69 15.84 -11.04 re f BT 10.079 0 0 10.079 496.29 462.5701 Tm 0 g ( )Tj ET 0.934 g 512.37 471.69 10.56 -11.04 re f BT 10.079 0 0 10.079 512.3699 462.5701 Tm 0 g ( )Tj ET 0.934 g 523.17 471.69 10.56 -11.04 re f BT 10.079 0 0 10.079 523.1699 462.5701 Tm 0 g ( )Tj ET 0.934 g 533.97 471.69 27.6 -11.04 re f BT 10.079 0 0 10.079 533.97 462.5701 Tm 0 g ( )Tj ET 0.934 g 561.81 471.69 10.56 -11.04 re f BT 10.079 0 0 10.079 561.8099 462.5701 Tm 0 g ( )Tj -51.8145 -1.1191 TD -0.0001 Tc 0.0001 Tw (LOSS BEFORE INCOME TAXES, MINORITY INTEREST AND )Tj 0.7382 -1.1192 TD [(CUMULATIVE EFFECT OF ACCOUNTING CHANGE)-5014.6( )-1631.1( )-178.6(\(116.8)-12.8(\))-1262.5( )-1083.5( )-1178.7(\(4.0)-12.6(\))-191( )-1631.1( )-178.6(\(143.2)-12.8(\))-1262.5( )-1631.1( )-678.7(\(43.6)-12.7(\))]TJ ET 0.934 g 39.57 437.85 292.32 -11.04 re f BT 10.079 0 0 10.079 39.57 428.7301 Tm 0 g (INCOME TAXES \(CREDIT\))Tj ET 0.934 g 332.13 437.85 10.56 -11.04 re f BT 10.079 0 0 10.079 332.13 428.7301 Tm 0 g 0 Tc 0 Tw ( )Tj ET 0.934 g 342.93 437.85 10.56 -11.04 re f BT 10.079 0 0 10.079 342.93 428.7301 Tm 0 g ( )Tj ET 0.934 g 353.73 437.85 27.6 -11.04 re f BT 10.079 0 0 10.079 368.85 428.7301 Tm 0 g (1.9)Tj ET 0.934 g 381.57 437.85 15.84 -11.04 re f BT 10.079 0 0 10.079 381.57 428.7301 Tm 0 g ( )Tj ET 0.934 g 397.65 437.85 10.56 -11.04 re f BT 10.079 0 0 10.079 397.65 428.7301 Tm 0 g ( )Tj ET 0.934 g 408.45 437.85 5.04 -11.04 re f BT 10.079 0 0 10.079 411.09 428.7301 Tm 0 g ( )Tj ET 0.934 g 413.73 437.85 27.6 -11.04 re f BT 10.079 0 0 10.079 425.49 428.7301 Tm 0 g (\(1.1)Tj ET 0.934 g 441.57 437.85 5.04 -11.04 re f BT 10.079 0 0 10.079 441.57 428.7301 Tm 0 g (\))Tj ET 0.934 g 446.85 437.85 10.56 -11.04 re f BT 10.079 0 0 10.079 446.85 428.7301 Tm 0 g ( )Tj ET 0.934 g 457.65 437.85 10.56 -11.04 re f BT 10.079 0 0 10.079 465.81 428.7301 Tm 0 g ( )Tj ET 0.934 g 468.45 437.85 27.6 -11.04 re f BT 10.079 0 0 10.079 475.17 428.7301 Tm 0 g (\(11.0)Tj ET 0.934 g 496.29 437.85 15.84 -11.04 re f BT 10.079 0 0 10.079 496.29 428.7301 Tm 0 g (\))Tj ET 0.934 g 512.37 437.85 10.56 -11.04 re f BT 10.079 0 0 10.079 512.3699 428.7301 Tm 0 g ( )Tj ET 0.934 g 523.17 437.85 10.56 -11.04 re f BT 10.079 0 0 10.079 531.33 428.7301 Tm 0 g ( )Tj ET 0.934 g 533.97 437.85 27.6 -11.04 re f BT 10.079 0 0 10.079 540.6899 428.7301 Tm 0 g (\(13.4)Tj ET 0.934 g 561.81 437.85 10.56 -11.04 re f BT 10.079 0 0 10.079 561.8099 428.7301 Tm 0 g (\))Tj -51.8145 -1.1192 TD 28.7766 Tc [( )27955.1( )]TJ ET 0.5 g 353.73 421.29 27.6 -0.48 re f BT 10.079 0 0 10.079 381.57 417.4501 Tm 0 g 1.3454 Tc [( )523.9( )]TJ ET 0.5 g 413.73 421.29 27.6 -0.48 re f BT 10.079 0 0 10.079 441.57 417.4501 Tm 0 g 0.2739 Tc [( )-547.6( )]TJ ET 0.5 g 468.45 421.29 27.6 -0.48 re f BT 10.079 0 0 10.079 496.29 417.4501 Tm 0 g 1.3454 Tc [( )523.9( )]TJ ET 0.5 g 533.97 421.29 27.6 -0.48 re f BT 10.079 0 0 10.079 561.8099 417.4501 Tm 0 g 0 Tc ( )Tj -51.8145 -1.1192 TD 0.8215 Tc [( )-27955.1( )-1690.7( )-523.9( )547.6( )-1690.7( )547.6( )-1690.7( )-523.9( )-1690.7( )]TJ ET 0.934 g 39.57 404.01 292.32 -22.32 re f BT 10.079 0 0 10.079 39.57 394.8901 Tm 0 g -0.0001 Tc 0.0001 Tw (LOSS BEFORE MINORITY INTEREST AND CUMULATIVE )Tj 0.7382 -1.1192 TD (EFFECT OF ACCOUNTING CHANGE)Tj ET 0.934 g 332.13 404.01 10.56 -22.32 re f BT 10.079 0 0 10.079 332.13 383.6101 Tm 0 g 0 Tc 0 Tw ( )Tj ET 0.934 g 342.93 404.01 10.56 -22.32 re f BT 10.079 0 0 10.079 351.09 383.6101 Tm 0 g ( )Tj ET 0.934 g 353.73 404.01 27.6 -22.32 re f BT 10.079 0 0 10.079 355.41 383.6101 Tm 0 g (\(118.7)Tj ET 0.934 g 381.57 404.01 15.84 -22.32 re f BT 10.079 0 0 10.079 381.57 383.6101 Tm 0 g (\))Tj ET 0.934 g 397.65 404.01 10.56 -22.32 re f BT 10.079 0 0 10.079 397.65 383.6101 Tm 0 g ( )Tj ET 0.934 g 408.45 404.01 5.04 -22.32 re f BT 10.079 0 0 10.079 411.09 383.6101 Tm 0 g ( )Tj ET 0.934 g 413.73 404.01 27.6 -22.32 re f BT 10.079 0 0 10.079 425.49 383.6101 Tm 0 g (\(2.9)Tj ET 0.934 g 441.57 404.01 5.04 -22.32 re f BT 10.079 0 0 10.079 441.57 383.6101 Tm 0 g (\))Tj ET 0.934 g 446.85 404.01 10.56 -22.32 re f BT 10.079 0 0 10.079 446.85 383.6101 Tm 0 g ( )Tj ET 0.934 g 457.65 404.01 10.56 -22.32 re f BT 10.079 0 0 10.079 465.81 383.6101 Tm 0 g ( )Tj ET 0.934 g 468.45 404.01 27.6 -22.32 re f BT 10.079 0 0 10.079 470.13 383.6101 Tm 0 g (\(132.2)Tj ET 0.934 g 496.29 404.01 15.84 -22.32 re f BT 10.079 0 0 10.079 496.29 383.6101 Tm 0 g (\))Tj ET 0.934 g 512.37 404.01 10.56 -22.32 re f BT 10.079 0 0 10.079 512.3699 383.6101 Tm 0 g ( )Tj ET 0.934 g 523.17 404.01 10.56 -22.32 re f BT 10.079 0 0 10.079 531.33 383.6101 Tm 0 g ( )Tj ET 0.934 g 533.97 404.01 27.6 -22.32 re f BT 10.079 0 0 10.079 540.6899 383.6101 Tm 0 g (\(30.2)Tj ET 0.934 g 561.81 404.01 10.56 -22.32 re f BT 10.079 0 0 10.079 561.8099 383.6101 Tm 0 g (\))Tj -51.8145 -1.1192 TD 0.8215 Tw [(MINORITY )821.5(INTEREST)-19056.4( )-1000.1(26.5)-12.2( )-523.9( )-952.5(1.2)-12.1( )547.6( )-1000.1(27.8)-12.2( )-523.9( )-1500.2(3.8)-12.1( )]TJ T* 28.7766 Tc 0 Tw [( )27955.1( )]TJ ET 0.5 g 353.73 364.89 27.6 -0.48 re f BT 10.079 0 0 10.079 381.57 361.0501 Tm 0 g 1.3454 Tc [( )523.9( )]TJ ET 0.5 g 413.73 364.89 27.6 -0.48 re f BT 10.079 0 0 10.079 441.57 361.0501 Tm 0 g 0.2739 Tc [( )-547.6( )]TJ ET 0.5 g 468.45 364.89 27.6 -0.48 re f BT 10.079 0 0 10.079 496.29 361.0501 Tm 0 g 1.3454 Tc [( )523.9( )]TJ ET 0.5 g 533.97 364.89 27.6 -0.48 re f BT 10.079 0 0 10.079 561.8099 361.0501 Tm 0 g 0 Tc ( )Tj ET 0.934 g 39.57 358.89 292.32 -11.04 re f BT 10.079 0 0 10.079 39.57 349.7701 Tm 0 g ( )Tj ET 0.934 g 332.13 358.89 10.56 -11.04 re f BT 10.079 0 0 10.079 332.13 349.7701 Tm 0 g ( )Tj ET 0.934 g 342.93 358.89 10.56 -11.04 re f BT 10.079 0 0 10.079 342.93 349.7701 Tm 0 g ( )Tj ET 0.934 g 353.73 358.89 27.6 -11.04 re f BT 10.079 0 0 10.079 353.73 349.7701 Tm 0 g ( )Tj ET 0.934 g 381.57 358.89 15.84 -11.04 re f BT 10.079 0 0 10.079 381.57 349.7701 Tm 0 g ( )Tj ET 0.934 g 397.65 358.89 10.56 -11.04 re f BT 10.079 0 0 10.079 397.65 349.7701 Tm 0 g ( )Tj ET 0.934 g 408.45 358.89 5.04 -11.04 re f BT 10.079 0 0 10.079 408.45 349.7701 Tm 0 g ( )Tj ET 0.934 g 413.73 358.89 27.6 -11.04 re f BT 10.079 0 0 10.079 413.73 349.7701 Tm 0 g ( )Tj ET 0.934 g 441.57 358.89 5.04 -11.04 re f BT 10.079 0 0 10.079 441.57 349.7701 Tm 0 g ( )Tj ET 0.934 g 446.85 358.89 10.56 -11.04 re f BT 10.079 0 0 10.079 446.85 349.7701 Tm 0 g ( )Tj ET 0.934 g 457.65 358.89 10.56 -11.04 re f BT 10.079 0 0 10.079 457.65 349.7701 Tm 0 g ( )Tj ET 0.934 g 468.45 358.89 27.6 -11.04 re f BT 10.079 0 0 10.079 468.45 349.7701 Tm 0 g ( )Tj ET 0.934 g 496.29 358.89 15.84 -11.04 re f BT 10.079 0 0 10.079 496.29 349.7701 Tm 0 g ( )Tj ET 0.934 g 512.37 358.89 10.56 -11.04 re f BT 10.079 0 0 10.079 512.3699 349.7701 Tm 0 g ( )Tj ET 0.934 g 523.17 358.89 10.56 -11.04 re f BT 10.079 0 0 10.079 523.1699 349.7701 Tm 0 g ( )Tj ET 0.934 g 533.97 358.89 27.6 -11.04 re f BT 10.079 0 0 10.079 533.97 349.7701 Tm 0 g ( )Tj ET 0.934 g 561.81 358.89 10.56 -11.04 re f BT 10.079 0 0 10.079 561.8099 349.7701 Tm 0 g ( )Tj -51.8145 -1.1192 TD -0.0001 Tc 0.0001 Tw (LOSS BEFORE CUMULATIVE EFFECT OF ACCOUNTING )Tj 0.7382 -1.1192 TD 0 Tc 1.6311 Tw [(CHANGE)-24122.7( )952.4(\(92.2)-12.6(\))-1262.4( )547.6( )452.4(\(1.7)-12.5(\))-190.9( )1452.5(\(104.4)-12.7(\))-1262.4( )952.4(\(26.4)-12.6(\))]TJ ET 0.934 g 39.57 325.05 292.32 -22.32 re f BT 10.079 0 0 10.079 39.57 315.9301 Tm 0 g -0.0001 Tc 0.0001 Tw (CUMULATIVE EFFECT OF ACCOUNTING CHANGE )Tj /F2 1 Tf 23.5239 0 TD 0 Tc 0 Tw ()Tj /F12 1 Tf 0.9999 0 TD -0.0001 Tc 0.0001 Tw ( NET OF )Tj -23.7856 -1.1192 TD 0 Tc 0 Tw ($5.0 TAX)Tj ET 0.934 g 332.13 325.05 10.56 -22.32 re f BT 10.079 0 0 10.079 332.13 304.6501 Tm 0 g ( )Tj ET 0.934 g 342.93 325.05 10.56 -22.32 re f BT 10.079 0 0 10.079 342.93 304.6501 Tm 0 g ( )Tj ET 0.934 g 353.73 325.05 27.6 -22.32 re f BT 10.079 0 0 10.079 353.73 304.6501 Tm 0 g ( )Tj ET 0.934 g 381.57 325.05 15.84 -22.32 re f BT 10.079 0 0 10.079 381.57 304.6501 Tm 0 g ( )Tj ET 0.934 g 397.65 325.05 10.56 -22.32 re f BT 10.079 0 0 10.079 397.65 304.6501 Tm 0 g ( )Tj ET 0.934 g 408.45 325.05 5.04 -22.32 re f BT 10.079 0 0 10.079 408.45 304.6501 Tm 0 g ( )Tj ET 0.934 g 413.73 325.05 27.6 -22.32 re f BT 10.079 0 0 10.079 413.73 304.6501 Tm 0 g ( )Tj ET 0.934 g 441.57 325.05 5.04 -22.32 re f BT 10.079 0 0 10.079 441.57 304.6501 Tm 0 g ( )Tj ET 0.934 g 446.85 325.05 10.56 -22.32 re f BT 10.079 0 0 10.079 446.85 304.6501 Tm 0 g ( )Tj ET 0.934 g 457.65 325.05 10.56 -22.32 re f BT 10.079 0 0 10.079 457.65 304.6501 Tm 0 g ( )Tj ET 0.934 g 468.45 325.05 27.6 -22.32 re f BT 10.079 0 0 10.079 468.45 304.6501 Tm 0 g ( )Tj ET 0.934 g 496.29 325.05 15.84 -22.32 re f BT 10.079 0 0 10.079 496.29 304.6501 Tm 0 g ( )Tj ET 0.934 g 512.37 325.05 10.56 -22.32 re f BT 10.079 0 0 10.079 512.3699 304.6501 Tm 0 g ( )Tj ET 0.934 g 523.17 325.05 10.56 -22.32 re f BT 10.079 0 0 10.079 523.1699 304.6501 Tm 0 g ( )Tj ET 0.934 g 533.97 325.05 27.6 -22.32 re f BT 10.079 0 0 10.079 549.09 304.6501 Tm 0 g (9.3)Tj ET 0.934 g 561.81 325.05 10.56 -22.32 re f BT 10.079 0 0 10.079 561.8099 304.6501 Tm 0 g ( )Tj -51.8145 -1.1192 TD 28.7766 Tc [( )27955.1( )]TJ ET 0.5 g 353.73 297.21 27.6 -0.48 re f BT 10.079 0 0 10.079 381.57 293.3701 Tm 0 g 1.3454 Tc [( )523.9( )]TJ ET 0.5 g 413.73 297.21 27.6 -0.48 re f BT 10.079 0 0 10.079 441.57 293.3701 Tm 0 g 0.2739 Tc [( )-547.6( )]TJ ET 0.5 g 468.45 297.21 27.6 -0.48 re f BT 10.079 0 0 10.079 496.29 293.3701 Tm 0 g 1.3454 Tc [( )523.9( )]TJ ET 0.5 g 533.97 297.21 27.6 -0.48 re f BT 10.079 0 0 10.079 561.8099 293.3701 Tm 0 g 0 Tc ( )Tj -51.8145 -1.1192 TD 1.393 Tw [(NET )1393(LOSS)-24387.9( $)-666.8(\(92.2)-12.6(\))-1262.4( )547.7($)-1166.8(\(1.7)-12.5(\))-190.9( $)-166.7(\(104.4)-12.7(\))-1262.4( $)-666.8(\(17.1)-12.6(\))]TJ T* 28.7766 Tc 0 Tw [( )27955.1( )]TJ ET 0.5 g 353.73 275.85 27.6 -2.88 re f BT 10.079 0 0 10.079 381.57 270.8101 Tm 0 g 1.3454 Tc [( )523.9( )]TJ ET 0.5 g 413.73 275.85 27.6 -2.88 re f BT 10.079 0 0 10.079 441.57 270.8101 Tm 0 g 0.2739 Tc [( )-547.6( )]TJ ET 0.5 g 468.45 275.85 27.6 -2.88 re f BT 10.079 0 0 10.079 496.29 270.8101 Tm 0 g 1.3454 Tc [( )523.9( )]TJ ET 0.5 g 533.97 275.85 27.6 -2.88 re f BT 10.079 0 0 10.079 561.8099 270.8101 Tm 0 g 0 Tc ( )Tj ET 0.934 g 39.57 268.65 292.32 -11.04 re f BT 10.079 0 0 10.079 39.57 259.5301 Tm 0 g ( )Tj ET 0.934 g 332.13 268.65 10.56 -11.04 re f BT 10.079 0 0 10.079 332.13 259.5301 Tm 0 g ( )Tj ET 0.934 g 342.93 268.65 10.56 -11.04 re f BT 10.079 0 0 10.079 342.93 259.5301 Tm 0 g ( )Tj ET 0.934 g 353.73 268.65 27.6 -11.04 re f BT 10.079 0 0 10.079 353.73 259.5301 Tm 0 g ( )Tj ET 0.934 g 381.57 268.65 15.84 -11.04 re f BT 10.079 0 0 10.079 381.57 259.5301 Tm 0 g ( )Tj ET 0.934 g 397.65 268.65 10.56 -11.04 re f BT 10.079 0 0 10.079 397.65 259.5301 Tm 0 g ( )Tj ET 0.934 g 408.45 268.65 5.04 -11.04 re f BT 10.079 0 0 10.079 408.45 259.5301 Tm 0 g ( )Tj ET 0.934 g 413.73 268.65 27.6 -11.04 re f BT 10.079 0 0 10.079 413.73 259.5301 Tm 0 g ( )Tj ET 0.934 g 441.57 268.65 5.04 -11.04 re f BT 10.079 0 0 10.079 441.57 259.5301 Tm 0 g ( )Tj ET 0.934 g 446.85 268.65 10.56 -11.04 re f BT 10.079 0 0 10.079 446.85 259.5301 Tm 0 g ( )Tj ET 0.934 g 457.65 268.65 10.56 -11.04 re f BT 10.079 0 0 10.079 457.65 259.5301 Tm 0 g ( )Tj ET 0.934 g 468.45 268.65 27.6 -11.04 re f BT 10.079 0 0 10.079 468.45 259.5301 Tm 0 g ( )Tj ET 0.934 g 496.29 268.65 15.84 -11.04 re f BT 10.079 0 0 10.079 496.29 259.5301 Tm 0 g ( )Tj ET 0.934 g 512.37 268.65 10.56 -11.04 re f BT 10.079 0 0 10.079 512.3699 259.5301 Tm 0 g ( )Tj ET 0.934 g 523.17 268.65 10.56 -11.04 re f BT 10.079 0 0 10.079 523.1699 259.5301 Tm 0 g ( )Tj ET 0.934 g 533.97 268.65 27.6 -11.04 re f BT 10.079 0 0 10.079 533.97 259.5301 Tm 0 g ( )Tj ET 0.934 g 561.81 268.65 10.56 -11.04 re f BT 10.079 0 0 10.079 561.8099 259.5301 Tm 0 g ( )Tj -51.8145 -1.1192 TD -0.0001 Tc 0.8216 Tw [(NET )821.5(LOSS )821.5(PER )821.5(COMMON )821.5(SHARE)-13916( )-1690.7( )-523.9( )547.6( )-1690.7( )547.6( )-1690.7( )-523.9( )-1690.7( )]TJ ET 0.934 g 39.57 246.09 10.32 -11.04 re f BT 10.079 0 0 10.079 39.57 236.9701 Tm 0 g 0 Tc 0 Tw ( )Tj ET 0.934 g 50.13 246.09 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re f BT 10.079 0 0 10.079 496.29 169.2901 Tm 0 g ( )Tj ET 0.934 g 512.37 178.41 10.56 -11.04 re f BT 10.079 0 0 10.079 512.3699 169.2901 Tm 0 g ( )Tj ET 0.934 g 523.17 178.41 10.56 -11.04 re f BT 10.079 0 0 10.079 523.1699 169.2901 Tm 0 g ( )Tj ET 0.934 g 533.97 178.41 27.6 -11.04 re f BT 10.079 0 0 10.079 533.97 169.2901 Tm 0 g ( )Tj ET 0.934 g 561.81 178.41 10.56 -11.04 re f BT 10.079 0 0 10.079 561.8099 169.2901 Tm 0 g ( )Tj -51.8145 -1.1192 TD -0.0001 Tc 0.8216 Tw [(AVERAGE )821.5(NUMBER )821.5(OF )821.5(SHARES )821.5(\(IN )821.5(THOUSANDS\))-5835.7( )-1690.7( )-523.9( )547.6( )-1690.7( )547.6( )-1690.7( )-523.9( )-1690.7( )]TJ ET 0.934 g 39.57 155.85 10.32 -11.04 re f BT 10.079 0 0 10.079 39.57 146.7301 Tm 0 g 0 Tc 0 Tw ( )Tj ET 0.934 g 50.13 155.85 281.76 -11.04 re f BT 10.079 0 0 10.079 50.13 146.7301 Tm 0 g (Basic)Tj ET 0.934 g 332.13 155.85 10.56 -11.04 re f BT 10.079 0 0 10.079 332.13 146.7301 Tm 0 g ( )Tj ET 0.934 g 342.93 155.85 10.56 -11.04 re f BT 10.079 0 0 10.079 342.93 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10.079 0 0 10.079 401.25 821.37 Tm 0 g (22.0)Tj ET 0.934 g 419.01 830.49 21.84 -11.04 re f BT 10.079 0 0 10.079 419.01 821.37 Tm 0 g ( )Tj ET 0.934 g 441.09 830.49 12.24 -11.04 re f BT 10.079 0 0 10.079 441.09 821.37 Tm 0 g ( )Tj ET 0.934 g 453.57 830.49 15.6 -11.04 re f BT 10.079 0 0 10.079 453.57 821.37 Tm 0 g ( )Tj ET 0.934 g 469.41 830.49 25.92 -11.04 re f BT 10.079 0 0 10.079 477.81 821.37 Tm 0 g (19.9)Tj ET 0.934 g 495.57 830.49 20.88 -11.04 re f BT 10.079 0 0 10.079 495.57 821.37 Tm 0 g ( )Tj -39.6704 -1.1192 TD [( )-964.4( )-964.4(Receivables from associated companies)-8257.4( )-988.2( )-2726.5(9.4)-12.1( )-1940.7( )-988.2( )-2155(12.1)-12.2( )]TJ ET 0.934 g 95.73 807.93 12 -11.04 re f BT 10.079 0 0 10.079 95.73 798.8101 Tm 0 g ( )Tj ET 0.934 g 107.97 807.93 12 -11.04 re f BT 10.079 0 0 10.079 107.97 798.8101 Tm 0 g ( )Tj ET 0.934 g 120.21 807.93 243.36 -11.04 re f BT 10.079 0 0 10.079 120.21 798.8101 Tm 0 g (Inventories)Tj ET 0.934 g 363.81 807.93 12.24 -11.04 re f BT 10.079 0 0 10.079 363.81 798.8101 Tm 0 g ( )Tj ET 0.934 g 376.29 807.93 16.32 -11.04 re f BT 10.079 0 0 10.079 376.29 798.8101 Tm 0 g ( )Tj ET 0.934 g 392.85 807.93 25.92 -11.04 re f BT 10.079 0 0 10.079 392.85 798.8101 Tm 0 g ( )Tj ET 0.934 g 419.01 807.93 21.84 -11.04 re f BT 10.079 0 0 10.079 419.01 798.8101 Tm 0 g ( )Tj ET 0.934 g 441.09 807.93 12.24 -11.04 re f BT 10.079 0 0 10.079 441.09 798.8101 Tm 0 g ( )Tj ET 0.934 g 453.57 807.93 15.6 -11.04 re f BT 10.079 0 0 10.079 453.57 798.8101 Tm 0 g ( )Tj ET 0.934 g 469.41 807.93 25.92 -11.04 re f BT 10.079 0 0 10.079 469.41 798.8101 Tm 0 g ( )Tj ET 0.934 g 495.57 807.93 20.88 -11.04 re f BT 10.079 0 0 10.079 495.57 798.8101 Tm 0 g ( )Tj -39.6704 -1.1192 TD 0.9882 Tw [( )23.8( )23.8( Product)-19820( )-1238.2(99.1)-12.2( )-952.5( )-1166.8(84.8)-12.2( )]TJ ET 0.934 g 95.73 785.37 12 -11.04 re f BT 10.079 0 0 10.079 95.73 776.25 Tm 0 g 0 Tw ( )Tj ET 0.934 g 107.97 785.37 12 -11.04 re f BT 10.079 0 0 10.079 107.97 776.25 Tm 0 g ( )Tj ET 0.934 g 120.21 785.37 12.24 -11.04 re f BT 10.079 0 0 10.079 120.21 776.25 Tm 0 g ( )Tj ET 0.934 g 132.69 785.37 230.88 -11.04 re f BT 10.079 0 0 10.079 132.69 776.25 Tm 0 g (Supplies and other)Tj ET 0.934 g 363.81 785.37 12.24 -11.04 re f BT 10.079 0 0 10.079 363.81 776.25 Tm 0 g ( )Tj ET 0.934 g 376.29 785.37 16.32 -11.04 re f BT 10.079 0 0 10.079 376.29 776.25 Tm 0 g ( )Tj ET 0.934 g 392.85 785.37 25.92 -11.04 re f BT 10.079 0 0 10.079 401.25 776.25 Tm 0 g (55.8)Tj ET 0.934 g 419.01 785.37 21.84 -11.04 re f BT 10.079 0 0 10.079 419.01 776.25 Tm 0 g ( )Tj ET 0.934 g 441.09 785.37 12.24 -11.04 re f BT 10.079 0 0 10.079 441.09 776.25 Tm 0 g ( )Tj ET 0.934 g 453.57 785.37 15.6 -11.04 re f BT 10.079 0 0 10.079 453.57 776.25 Tm 0 g ( )Tj ET 0.934 g 469.41 785.37 25.92 -11.04 re f BT 10.079 0 0 10.079 477.81 776.25 Tm 0 g (29.0)Tj ET 0.934 g 495.57 785.37 20.88 -11.04 re f BT 10.079 0 0 10.079 495.57 776.25 Tm 0 g ( )Tj -39.6704 -1.1191 TD [( )-964.4( )-964.4(Deferred and refundable income taxes)-8898.3( )-988.2( )-2726.5(4.4)-12.1( )-1940.7( )-988.2( )-2155(20.9)-12.2( )]TJ ET 0.934 g 95.73 762.81 12 -11.04 re f BT 10.079 0 0 10.079 95.73 753.6901 Tm 0 g ( )Tj ET 0.934 g 107.97 762.81 12 -11.04 re f BT 10.079 0 0 10.079 107.97 753.6901 Tm 0 g ( )Tj ET 0.934 g 120.21 762.81 243.36 -11.04 re f BT 10.079 0 0 10.079 120.21 753.6901 Tm 0 g (Other)Tj ET 0.934 g 363.81 762.81 12.24 -11.04 re f BT 10.079 0 0 10.079 363.81 753.6901 Tm 0 g ( )Tj ET 0.934 g 376.29 762.81 16.32 -11.04 re f BT 10.079 0 0 10.079 376.29 753.6901 Tm 0 g ( )Tj ET 0.934 g 392.85 762.81 25.92 -11.04 re f BT 10.079 0 0 10.079 401.25 753.6901 Tm 0 g (12.8)Tj ET 0.934 g 419.01 762.81 21.84 -11.04 re f BT 10.079 0 0 10.079 419.01 753.6901 Tm 0 g ( )Tj ET 0.934 g 441.09 762.81 12.24 -11.04 re f BT 10.079 0 0 10.079 441.09 753.6901 Tm 0 g ( )Tj ET 0.934 g 453.57 762.81 15.6 -11.04 re f BT 10.079 0 0 10.079 453.57 753.6901 Tm 0 g ( )Tj ET 0.934 g 469.41 762.81 25.92 -11.04 re f BT 10.079 0 0 10.079 477.81 753.6901 Tm 0 g (12.2)Tj ET 0.934 g 495.57 762.81 20.88 -11.04 re f BT 10.079 0 0 10.079 495.57 753.6901 Tm 0 g ( )Tj -39.6704 -1.1192 TD 26.3478 Tc [( )25359.6( )]TJ ET 0.5 g 392.85 746.25 25.92 -0.48 re f BT 10.079 0 0 10.079 419.01 742.41 Tm 0 g 1.9407 Tc [( )952.5( )]TJ ET 0.5 g 469.41 746.25 25.92 -0.48 re f BT 10.079 0 0 10.079 495.57 742.41 Tm 0 g 0 Tc ( )Tj -39.6704 -1.1191 TD -0.0001 Tc 0.9883 Tw [( )23.8( )23.8( TOTAL )988.2(CURRENT )988.2(ASSETS)-9637.7( )-738.2(389.0)-12.4( )-952.5( )-666.7(362.7)-12.4( )]TJ ET 0.934 g 95.73 728.97 267.84 -11.04 re f BT 10.079 0 0 10.079 95.73 719.8501 Tm 0 g 0 Tc 0 Tw ( )Tj ET 0.934 g 363.81 728.97 12.24 -11.04 re f BT 10.079 0 0 10.079 363.81 719.8501 Tm 0 g ( )Tj ET 0.934 g 376.29 728.97 16.32 -11.04 re f BT 10.079 0 0 10.079 376.29 719.8501 Tm 0 g ( )Tj ET 0.934 g 392.85 728.97 25.92 -11.04 re f BT 10.079 0 0 10.079 392.85 719.8501 Tm 0 g ( )Tj ET 0.934 g 419.01 728.97 21.84 -11.04 re f BT 10.079 0 0 10.079 419.01 719.8501 Tm 0 g ( )Tj ET 0.934 g 441.09 728.97 12.24 -11.04 re f BT 10.079 0 0 10.079 441.09 719.8501 Tm 0 g ( )Tj ET 0.934 g 453.57 728.97 15.6 -11.04 re f BT 10.079 0 0 10.079 453.57 719.8501 Tm 0 g ( )Tj ET 0.934 g 469.41 728.97 25.92 -11.04 re f BT 10.079 0 0 10.079 469.41 719.8501 Tm 0 g ( )Tj ET 0.934 g 495.57 728.97 20.88 -11.04 re f BT 10.079 0 0 10.079 495.57 719.8501 Tm 0 g ( )Tj -39.6704 -1.1192 TD 0.9882 Tw [(PROPERTIES)-20708.3( )-738.2(382.8)-12.3( )-952.5( )-666.7(358.0)-12.3( )]TJ ET 0.934 g 95.73 706.41 12 -11.04 re f BT 10.079 0 0 10.079 95.73 697.29 Tm 0 g 0 Tw ( )Tj ET 0.934 g 107.97 706.41 12 -11.04 re f BT 10.079 0 0 10.079 107.97 697.29 Tm 0 g ( )Tj ET 0.934 g 120.21 706.41 243.36 -11.04 re f BT 10.079 0 0 10.079 120.21 697.29 Tm 0 g (Allowances for depreciation and depletion)Tj ET 0.934 g 363.81 706.41 12.24 -11.04 re f BT 10.079 0 0 10.079 363.81 697.29 Tm 0 g ( )Tj ET 0.934 g 376.29 706.41 16.32 -11.04 re f BT 10.079 0 0 10.079 390.21 697.29 Tm 0 g ( )Tj ET 0.934 g 392.85 706.41 25.92 -11.04 re f BT 10.079 0 0 10.079 392.85 697.29 Tm 0 g (\(104.6)Tj ET 0.934 g 419.01 706.41 21.84 -11.04 re f BT 10.079 0 0 10.079 419.01 697.29 Tm 0 g (\))Tj ET 0.934 g 441.09 706.41 12.24 -11.04 re f BT 10.079 0 0 10.079 441.09 697.29 Tm 0 g ( )Tj ET 0.934 g 453.57 706.41 15.6 -11.04 re f BT 10.079 0 0 10.079 466.77 697.29 Tm 0 g ( )Tj ET 0.934 g 469.41 706.41 25.92 -11.04 re f BT 10.079 0 0 10.079 474.45 697.29 Tm 0 g (\(97.7)Tj ET 0.934 g 495.57 706.41 20.88 -11.04 re f BT 10.079 0 0 10.079 495.57 697.29 Tm 0 g (\))Tj -39.6704 -1.1191 TD 26.3478 Tc [( )25359.6( )]TJ ET 0.5 g 392.85 689.85 25.92 -0.48 re f BT 10.079 0 0 10.079 419.01 686.0101 Tm 0 g 1.9407 Tc [( )952.5( )]TJ ET 0.5 g 469.41 689.85 25.92 -0.48 re f BT 10.079 0 0 10.079 495.57 686.0101 Tm 0 g 0 Tc ( )Tj -39.6704 -1.1192 TD -0.0001 Tc 0.9883 Tw [( )23.8( )23.8( TOTAL )988.2(PROPERTIES)-12276.4( )-738.2(278.2)-12.4( )-952.5( )-666.7(260.3)-12.4( )]TJ ET 0.934 g 95.73 672.57 267.84 -11.04 re f BT 10.079 0 0 10.079 95.73 663.4501 Tm 0 g 0 Tc 0 Tw ( )Tj ET 0.934 g 363.81 672.57 12.24 -11.04 re f BT 10.079 0 0 10.079 363.81 663.4501 Tm 0 g ( )Tj ET 0.934 g 376.29 672.57 16.32 -11.04 re f BT 10.079 0 0 10.079 376.29 663.4501 Tm 0 g ( )Tj ET 0.934 g 392.85 672.57 25.92 -11.04 re f BT 10.079 0 0 10.079 392.85 663.4501 Tm 0 g ( )Tj ET 0.934 g 419.01 672.57 21.84 -11.04 re f BT 10.079 0 0 10.079 419.01 663.4501 Tm 0 g ( )Tj ET 0.934 g 441.09 672.57 12.24 -11.04 re f BT 10.079 0 0 10.079 441.09 663.4501 Tm 0 g ( )Tj ET 0.934 g 453.57 672.57 15.6 -11.04 re f BT 10.079 0 0 10.079 453.57 663.4501 Tm 0 g ( )Tj ET 0.934 g 469.41 672.57 25.92 -11.04 re f BT 10.079 0 0 10.079 469.41 663.4501 Tm 0 g ( )Tj ET 0.934 g 495.57 672.57 20.88 -11.04 re f BT 10.079 0 0 10.079 495.57 663.4501 Tm 0 g ( )Tj -39.6704 -1.1192 TD -0.0001 Tc 0.0001 Tw [(INVESTMENTS IN ASSOCIATED IRON ORE VENTURES)-1463.1( )-988.2( )-2226.4(14.1)-12.3( )-1940.7( )-988.2( )-1654.9(131.7)-12.4( )]TJ ET 0.934 g 95.73 650.01 267.84 -11.04 re f BT 10.079 0 0 10.079 95.73 640.8901 Tm 0 g 0 Tc 0 Tw ( )Tj ET 0.934 g 363.81 650.01 12.24 -11.04 re f BT 10.079 0 0 10.079 363.81 640.8901 Tm 0 g ( )Tj ET 0.934 g 376.29 650.01 16.32 -11.04 re f BT 10.079 0 0 10.079 376.29 640.8901 Tm 0 g ( )Tj ET 0.934 g 392.85 650.01 25.92 -11.04 re f BT 10.079 0 0 10.079 392.85 640.8901 Tm 0 g ( )Tj ET 0.934 g 419.01 650.01 21.84 -11.04 re f BT 10.079 0 0 10.079 419.01 640.8901 Tm 0 g ( )Tj ET 0.934 g 441.09 650.01 12.24 -11.04 re f BT 10.079 0 0 10.079 441.09 640.8901 Tm 0 g ( )Tj ET 0.934 g 453.57 650.01 15.6 -11.04 re f BT 10.079 0 0 10.079 453.57 640.8901 Tm 0 g ( )Tj ET 0.934 g 469.41 650.01 25.92 -11.04 re f BT 10.079 0 0 10.079 469.41 640.8901 Tm 0 g ( )Tj ET 0.934 g 495.57 650.01 20.88 -11.04 re f BT 10.079 0 0 10.079 495.57 640.8901 Tm 0 g ( )Tj -39.6704 -1.1192 TD -0.0001 Tc 0.9883 Tw [(OTHER )988.2(ASSETS)-19403.5( )-404.8( )-1357.3( )-952.5( )-333.4( )-1357.3( )]TJ ET 0.934 g 95.73 627.45 12 -11.04 re f BT 10.079 0 0 10.079 95.73 618.3301 Tm 0 g 0 Tc 0 Tw ( )Tj ET 0.934 g 107.97 627.45 12 -11.04 re f BT 10.079 0 0 10.079 107.97 618.3301 Tm 0 g ( )Tj ET 0.934 g 120.21 627.45 243.36 -11.04 re f BT 10.079 0 0 10.079 120.21 618.3301 Tm 0 g (Prepaid pensions)Tj ET 0.934 g 363.81 627.45 12.24 -11.04 re f BT 10.079 0 0 10.079 363.81 618.3301 Tm 0 g ( )Tj ET 0.934 g 376.29 627.45 16.32 -11.04 re f BT 10.079 0 0 10.079 376.29 618.3301 Tm 0 g ( )Tj ET 0.934 g 392.85 627.45 25.92 -11.04 re f BT 10.079 0 0 10.079 401.25 618.3301 Tm 0 g (42.4)Tj ET 0.934 g 419.01 627.45 21.84 -11.04 re f BT 10.079 0 0 10.079 419.01 618.3301 Tm 0 g ( )Tj ET 0.934 g 441.09 627.45 12.24 -11.04 re f BT 10.079 0 0 10.079 441.09 618.3301 Tm 0 g ( )Tj ET 0.934 g 453.57 627.45 15.6 -11.04 re f BT 10.079 0 0 10.079 453.57 618.3301 Tm 0 g ( )Tj ET 0.934 g 469.41 627.45 25.92 -11.04 re f BT 10.079 0 0 10.079 477.81 618.3301 Tm 0 g (46.1)Tj ET 0.934 g 495.57 627.45 20.88 -11.04 re f BT 10.079 0 0 10.079 495.57 618.3301 Tm 0 g ( )Tj -39.6704 -1.1192 TD 0.9644 Tw [( Other )964.4(investments)-16864.6( )-23.8( )-1262(37.4)-12.2( )-976.3( )-23.8( )-1690.6(3.3)-12.1( )]TJ ET 0.934 g 95.73 604.89 12 -11.04 re f BT 10.079 0 0 10.079 95.73 595.7701 Tm 0 g 0 Tw ( )Tj ET 0.934 g 107.97 604.89 12 -11.04 re f BT 10.079 0 0 10.079 107.97 595.7701 Tm 0 g ( )Tj ET 0.934 g 120.21 604.89 243.36 -11.04 re f BT 10.079 0 0 10.079 120.21 595.7701 Tm 0 g (Miscellaneous)Tj ET 0.934 g 363.81 604.89 12.24 -11.04 re f BT 10.079 0 0 10.079 363.81 595.7701 Tm 0 g ( )Tj ET 0.934 g 376.29 604.89 16.32 -11.04 re f BT 10.079 0 0 10.079 376.29 595.7701 Tm 0 g ( )Tj ET 0.934 g 392.85 604.89 25.92 -11.04 re f BT 10.079 0 0 10.079 401.25 595.7701 Tm 0 g (31.8)Tj ET 0.934 g 419.01 604.89 21.84 -11.04 re f BT 10.079 0 0 10.079 419.01 595.7701 Tm 0 g ( )Tj ET 0.934 g 441.09 604.89 12.24 -11.04 re f BT 10.079 0 0 10.079 441.09 595.7701 Tm 0 g ( )Tj ET 0.934 g 453.57 604.89 15.6 -11.04 re f BT 10.079 0 0 10.079 453.57 595.7701 Tm 0 g ( )Tj ET 0.934 g 469.41 604.89 25.92 -11.04 re f BT 10.079 0 0 10.079 477.81 595.7701 Tm 0 g (20.9)Tj ET 0.934 g 495.57 604.89 20.88 -11.04 re f BT 10.079 0 0 10.079 495.57 595.7701 Tm 0 g ( )Tj -39.6704 -1.1192 TD 26.3478 Tc [( )25359.6( )]TJ ET 0.5 g 392.85 588.33 25.92 -0.48 re f BT 10.079 0 0 10.079 419.01 584.4901 Tm 0 g 1.9407 Tc [( )952.5( )]TJ ET 0.5 g 469.41 588.33 25.92 -0.48 re f BT 10.079 0 0 10.079 495.57 584.4901 Tm 0 g 0 Tc ( )Tj -39.6704 -1.1191 TD -0.0001 Tc 0.9883 Tw [( )23.8( )23.8( TOTAL )988.2(OTHER )988.2(ASSETS)-10971.6( )-738.2(111.6)-12.4( )-952.5( )-1166.8(70.3)-12.3( )]TJ T* 26.3478 Tc 0 Tw [( )25359.6( )]TJ ET 0.5 g 392.85 565.77 25.92 -0.48 re f BT 10.079 0 0 10.079 419.01 561.9301 Tm 0 g 1.9407 Tc [( )952.5( )]TJ ET 0.5 g 469.41 565.77 25.92 -0.48 re f BT 10.079 0 0 10.079 495.57 561.9301 Tm 0 g 0 Tc ( )Tj ET 0.934 g 95.73 559.77 12 -11.04 re f BT 10.079 0 0 10.079 95.73 550.6501 Tm 0 g ( )Tj ET 0.934 g 107.97 559.77 12 -11.04 re f BT 10.079 0 0 10.079 107.97 550.6501 Tm 0 g ( )Tj ET 0.934 g 120.21 559.77 12.24 -11.04 re f BT 10.079 0 0 10.079 120.21 550.6501 Tm 0 g ( )Tj ET 0.934 g 132.69 559.77 12.24 -11.04 re f BT 10.079 0 0 10.079 132.69 550.6501 Tm 0 g ( )Tj ET 0.934 g 145.17 559.77 218.4 -11.04 re f BT 10.079 0 0 10.079 145.17 550.6501 Tm 0 g -0.0001 Tc 0.0001 Tw (TOTAL ASSETS)Tj ET 0.934 g 363.81 559.77 12.24 -11.04 re f BT 10.079 0 0 10.079 363.81 550.6501 Tm 0 g 0 Tc 0 Tw ( )Tj ET 0.934 g 376.29 559.77 16.32 -11.04 re f BT 10.079 0 0 10.079 387.81 550.6501 Tm 0 g ($)Tj ET 0.934 g 392.85 559.77 25.92 -11.04 re f BT 10.079 0 0 10.079 396.21 550.6501 Tm 0 g (792.9)Tj ET 0.934 g 419.01 559.77 21.84 -11.04 re f BT 10.079 0 0 10.079 419.01 550.6501 Tm 0 g ( )Tj ET 0.934 g 441.09 559.77 12.24 -11.04 re f BT 10.079 0 0 10.079 441.09 550.6501 Tm 0 g ( )Tj ET 0.934 g 453.57 559.77 15.6 -11.04 re f BT 10.079 0 0 10.079 464.37 550.6501 Tm 0 g ($)Tj ET 0.934 g 469.41 559.77 25.92 -11.04 re f BT 10.079 0 0 10.079 472.77 550.6501 Tm 0 g (825.0)Tj ET 0.934 g 495.57 559.77 20.88 -11.04 re f BT 10.079 0 0 10.079 495.57 550.6501 Tm 0 g ( )Tj -39.6704 -1.1192 TD 26.3478 Tc [( )25359.6( )]TJ ET 0.5 g 392.85 544.41 25.92 -2.88 re f BT 10.079 0 0 10.079 419.01 539.3701 Tm 0 g 1.9407 Tc [( )952.5( )]TJ ET 0.5 g 469.41 544.41 25.92 -2.88 re f BT 10.079 0 0 10.079 495.57 539.3701 Tm 0 g 0 Tc ( )Tj -39.6704 -1.1192 TD 0.9882 Tc [( )-25359.6( )-404.8( )-1357.3( )-952.5( )-333.4( )-1357.3( )]TJ ET 0.934 g 95.73 525.93 12 -12.24 re f BT 10.079 0 0 10.079 95.73 515.61 Tm 0 g 0 Tc ( )Tj ET 0.934 g 107.97 525.93 255.6 -12.24 re f BT /F13 1 Tf 10.079 0 0 10.079 107.97 516.0901 Tm 0 g -0.0001 Tc 0.0001 Tw (LIABILITIES AND SHAREHOLDERS)Tj /F6 1 Tf 17.1684 0 TD 0 Tc 0 Tw ()Tj /F13 1 Tf 0.333 0 TD -0.0001 Tc 0.0001 Tw ( EQUITY)Tj ET 0.934 g 363.81 525.93 12.24 -12.24 re f BT /F12 1 Tf 10.079 0 0 10.079 363.81 515.61 Tm 0 g 0 Tc 0 Tw ( )Tj ET 0.934 g 376.29 525.93 16.32 -12.24 re f BT 10.079 0 0 10.079 376.29 515.61 Tm 0 g ( )Tj ET 0.934 g 392.85 525.93 25.92 -12.24 re f BT 10.079 0 0 10.079 392.85 515.61 Tm 0 g ( )Tj ET 0.934 g 419.01 525.93 21.84 -12.24 re f BT 10.079 0 0 10.079 419.01 515.61 Tm 0 g ( )Tj ET 0.934 g 441.09 525.93 12.24 -12.24 re f BT 10.079 0 0 10.079 441.09 515.61 Tm 0 g ( )Tj ET 0.934 g 453.57 525.93 15.6 -12.24 re f BT 10.079 0 0 10.079 453.57 515.61 Tm 0 g ( )Tj ET 0.934 g 469.41 525.93 25.92 -12.24 re f BT 10.079 0 0 10.079 469.41 515.61 Tm 0 g ( )Tj ET 0.934 g 495.57 525.93 20.88 -12.24 re f BT 10.079 0 0 10.079 495.57 515.61 Tm 0 g ( )Tj -39.6704 -1.1192 TD 0.9882 Tc [( )-25359.6( )-404.8( )-1357.3( )-952.5( )-333.4( )-1357.3( )]TJ ET 0.934 g 95.73 502.17 267.84 -11.04 re f BT 10.079 0 0 10.079 95.73 493.0501 Tm 0 g -0.0001 Tc 0.0001 Tw (CURRENT LIABILITIES)Tj ET 0.934 g 363.81 502.17 12.24 -11.04 re f BT 10.079 0 0 10.079 363.81 493.0501 Tm 0 g 0 Tc 0 Tw ( )Tj ET 0.934 g 376.29 502.17 16.32 -11.04 re f BT 10.079 0 0 10.079 376.29 493.0501 Tm 0 g ( )Tj ET 0.934 g 392.85 502.17 25.92 -11.04 re f BT 10.079 0 0 10.079 392.85 493.0501 Tm 0 g ( )Tj ET 0.934 g 419.01 502.17 21.84 -11.04 re f BT 10.079 0 0 10.079 419.01 493.0501 Tm 0 g ( )Tj ET 0.934 g 441.09 502.17 12.24 -11.04 re f BT 10.079 0 0 10.079 441.09 493.0501 Tm 0 g ( )Tj ET 0.934 g 453.57 502.17 15.6 -11.04 re f BT 10.079 0 0 10.079 453.57 493.0501 Tm 0 g ( )Tj ET 0.934 g 469.41 502.17 25.92 -11.04 re f BT 10.079 0 0 10.079 469.41 493.0501 Tm 0 g ( )Tj ET 0.934 g 495.57 502.17 20.88 -11.04 re f BT 10.079 0 0 10.079 495.57 493.0501 Tm 0 g ( )Tj -39.6704 -1.1192 TD [( )-964.4( )-964.4(Borrowings under revolving credit facility)-7228.5( )-2131.2($)-333.4(100.0)-12.3( )-1940.7( )-2059.7($)-333.4(100.0)-12.3( )]TJ ET 0.934 g 95.73 479.61 12 -11.04 re f BT 10.079 0 0 10.079 95.73 470.4901 Tm 0 g ( )Tj ET 0.934 g 107.97 479.61 12 -11.04 re f BT 10.079 0 0 10.079 107.97 470.4901 Tm 0 g ( )Tj ET 0.934 g 120.21 479.61 243.36 -11.04 re f BT 10.079 0 0 10.079 120.21 470.4901 Tm 0 g (Accounts payable and accrued expenses)Tj ET 0.934 g 363.81 479.61 12.24 -11.04 re f BT 10.079 0 0 10.079 363.81 470.4901 Tm 0 g ( )Tj ET 0.934 g 376.29 479.61 16.32 -11.04 re f BT 10.079 0 0 10.079 376.29 470.4901 Tm 0 g ( )Tj ET 0.934 g 392.85 479.61 25.92 -11.04 re f BT 10.079 0 0 10.079 396.21 470.4901 Tm 0 g (126.5)Tj ET 0.934 g 419.01 479.61 21.84 -11.04 re f BT 10.079 0 0 10.079 419.01 470.4901 Tm 0 g ( )Tj ET 0.934 g 441.09 479.61 12.24 -11.04 re f BT 10.079 0 0 10.079 441.09 470.4901 Tm 0 g ( )Tj ET 0.934 g 453.57 479.61 15.6 -11.04 re f BT 10.079 0 0 10.079 453.57 470.4901 Tm 0 g ( )Tj ET 0.934 g 469.41 479.61 25.92 -11.04 re f BT 10.079 0 0 10.079 477.81 470.4901 Tm 0 g (64.7)Tj ET 0.934 g 495.57 479.61 20.88 -11.04 re f BT 10.079 0 0 10.079 495.57 470.4901 Tm 0 g ( )Tj -39.6704 -1.1192 TD [( )-964.4( )-964.4(Payables to associated companies)-10700.2( )-988.2( )-2226.4(10.8)-12.2( )-1940.7( )-988.2( )-2155(16.0)-12.2( )]TJ ET 0.934 g 95.73 457.05 12 -11.04 re f BT 10.079 0 0 10.079 95.73 447.9301 Tm 0 g ( )Tj ET 0.934 g 107.97 457.05 12 -11.04 re f BT 10.079 0 0 10.079 107.97 447.9301 Tm 0 g ( )Tj ET 0.934 g 120.21 457.05 243.36 -11.04 re f BT 10.079 0 0 10.079 120.21 447.9301 Tm 0 g (Environmental and closure obligations)Tj ET 0.934 g 363.81 457.05 12.24 -11.04 re f BT 10.079 0 0 10.079 363.81 447.9301 Tm 0 g ( )Tj ET 0.934 g 376.29 457.05 16.32 -11.04 re f BT 10.079 0 0 10.079 376.29 447.9301 Tm 0 g ( )Tj ET 0.934 g 392.85 457.05 25.92 -11.04 re f BT 10.079 0 0 10.079 406.29 447.9301 Tm 0 g (8.7)Tj ET 0.934 g 419.01 457.05 21.84 -11.04 re f BT 10.079 0 0 10.079 419.01 447.9301 Tm 0 g ( )Tj ET 0.934 g 441.09 457.05 12.24 -11.04 re f BT 10.079 0 0 10.079 441.09 447.9301 Tm 0 g ( )Tj ET 0.934 g 453.57 457.05 15.6 -11.04 re f BT 10.079 0 0 10.079 453.57 447.9301 Tm 0 g ( )Tj ET 0.934 g 469.41 457.05 25.92 -11.04 re f BT 10.079 0 0 10.079 482.85 447.9301 Tm 0 g (9.1)Tj ET 0.934 g 495.57 457.05 20.88 -11.04 re f BT 10.079 0 0 10.079 495.57 447.9301 Tm 0 g ( )Tj -39.6704 -1.1192 TD 26.3478 Tc [( )25359.6( )]TJ ET 0.5 g 392.85 440.49 25.92 -0.48 re f BT 10.079 0 0 10.079 419.01 436.6501 Tm 0 g 1.9407 Tc [( )952.5( )]TJ ET 0.5 g 469.41 440.49 25.92 -0.48 re f BT 10.079 0 0 10.079 495.57 436.6501 Tm 0 g 0 Tc ( )Tj -39.6704 -1.1192 TD -0.0001 Tc 0.9883 Tw [( )23.8( )23.8( TOTAL )988.2(CURRENT )988.2(LIABILITIES)-7528.9( )-738.2(246.0)-12.4( )-952.5( )-666.7(189.8)-12.4( )]TJ ET 0.934 g 95.73 423.21 267.84 -11.04 re f BT 10.079 0 0 10.079 95.73 414.0901 Tm 0 g 0.0001 Tw (LONG-TERM DEBT)Tj ET 0.934 g 363.81 423.21 12.24 -11.04 re f BT 10.079 0 0 10.079 363.81 414.0901 Tm 0 g 0 Tc 0 Tw ( )Tj ET 0.934 g 376.29 423.21 16.32 -11.04 re f BT 10.079 0 0 10.079 376.29 414.0901 Tm 0 g ( )Tj ET 0.934 g 392.85 423.21 25.92 -11.04 re f BT 10.079 0 0 10.079 401.25 414.0901 Tm 0 g (70.0)Tj ET 0.934 g 419.01 423.21 21.84 -11.04 re f BT 10.079 0 0 10.079 419.01 414.0901 Tm 0 g ( )Tj ET 0.934 g 441.09 423.21 12.24 -11.04 re f BT 10.079 0 0 10.079 441.09 414.0901 Tm 0 g ( )Tj ET 0.934 g 453.57 423.21 15.6 -11.04 re f BT 10.079 0 0 10.079 453.57 414.0901 Tm 0 g ( )Tj ET 0.934 g 469.41 423.21 25.92 -11.04 re f BT 10.079 0 0 10.079 477.81 414.0901 Tm 0 g (70.0)Tj ET 0.934 g 495.57 423.21 20.88 -11.04 re f BT 10.079 0 0 10.079 495.57 414.0901 Tm 0 g ( )Tj -39.6704 -1.1192 TD -0.0001 Tc 0.0001 Tw [(POSTEMPLOYMENT BENEFIT LIABILITIES)-6878.6( )-988.2( )-2226.4(99.0)-12.3( )-1940.7( )-988.2( )-2155(69.2)-12.3( )]TJ ET 0.934 g 95.73 400.65 267.84 -11.04 re f BT 10.079 0 0 10.079 95.73 391.5301 Tm 0 g (ENVIRONMENTAL AND CLOSURE OBLIGATIONS)Tj ET 0.934 g 363.81 400.65 12.24 -11.04 re f BT 10.079 0 0 10.079 363.81 391.5301 Tm 0 g 0 Tc 0 Tw ( )Tj ET 0.934 g 376.29 400.65 16.32 -11.04 re f BT 10.079 0 0 10.079 376.29 391.5301 Tm 0 g ( )Tj ET 0.934 g 392.85 400.65 25.92 -11.04 re f BT 10.079 0 0 10.079 401.25 391.5301 Tm 0 g (57.5)Tj ET 0.934 g 419.01 400.65 21.84 -11.04 re f BT 10.079 0 0 10.079 419.01 391.5301 Tm 0 g ( )Tj ET 0.934 g 441.09 400.65 12.24 -11.04 re f BT 10.079 0 0 10.079 441.09 391.5301 Tm 0 g ( )Tj ET 0.934 g 453.57 400.65 15.6 -11.04 re f BT 10.079 0 0 10.079 453.57 391.5301 Tm 0 g ( )Tj ET 0.934 g 469.41 400.65 25.92 -11.04 re f BT 10.079 0 0 10.079 477.81 391.5301 Tm 0 g (59.2)Tj ET 0.934 g 495.57 400.65 20.88 -11.04 re f BT 10.079 0 0 10.079 495.57 391.5301 Tm 0 g ( )Tj -39.6704 -1.1192 TD -0.0001 Tc 0.9883 Tw [(OTHER )988.2(LIABILITIES)-17294.7( )-1238.2(22.5)-12.3( )-952.5( )-1166.8(36.7)-12.3( )]TJ T* 26.3478 Tc 0 Tw [( )25359.6( )]TJ ET 0.5 g 392.85 372.81 25.92 -0.48 re f BT 10.079 0 0 10.079 419.01 368.9701 Tm 0 g 1.9407 Tc [( )952.5( )]TJ ET 0.5 g 469.41 372.81 25.92 -0.48 re f BT 10.079 0 0 10.079 495.57 368.9701 Tm 0 g 0 Tc ( )Tj ET 0.934 g 95.73 366.81 267.84 -11.04 re f BT 10.079 0 0 10.079 95.73 357.6901 Tm 0 g ( )Tj ET 0.934 g 363.81 366.81 12.24 -11.04 re f BT 10.079 0 0 10.079 363.81 357.6901 Tm 0 g ( )Tj ET 0.934 g 376.29 366.81 16.32 -11.04 re f BT 10.079 0 0 10.079 376.29 357.6901 Tm 0 g ( )Tj ET 0.934 g 392.85 366.81 25.92 -11.04 re f BT 10.079 0 0 10.079 396.21 357.6901 Tm 0 g (495.0)Tj ET 0.934 g 419.01 366.81 21.84 -11.04 re f BT 10.079 0 0 10.079 419.01 357.6901 Tm 0 g ( )Tj ET 0.934 g 441.09 366.81 12.24 -11.04 re f BT 10.079 0 0 10.079 441.09 357.6901 Tm 0 g ( )Tj ET 0.934 g 453.57 366.81 15.6 -11.04 re f BT 10.079 0 0 10.079 453.57 357.6901 Tm 0 g ( )Tj ET 0.934 g 469.41 366.81 25.92 -11.04 re f BT 10.079 0 0 10.079 472.77 357.6901 Tm 0 g (424.9)Tj ET 0.934 g 495.57 366.81 20.88 -11.04 re f BT 10.079 0 0 10.079 495.57 357.6901 Tm 0 g ( )Tj -39.6704 -1.1191 TD 0.9882 Tc [( )-25359.6( )-404.8( )-1357.3( )-952.5( )-333.4( )-1357.3( )]TJ ET 0.934 g 95.73 344.25 267.84 -11.04 re f BT 10.079 0 0 10.079 95.73 335.1301 Tm 0 g -0.0001 Tc 0.0001 Tw (MINORITY INTEREST)Tj ET 0.934 g 363.81 344.25 12.24 -11.04 re f BT 10.079 0 0 10.079 363.81 335.1301 Tm 0 g 0 Tc 0 Tw ( )Tj ET 0.934 g 376.29 344.25 16.32 -11.04 re f BT 10.079 0 0 10.079 376.29 335.1301 Tm 0 g ( )Tj ET 0.934 g 392.85 344.25 25.92 -11.04 re f BT 10.079 0 0 10.079 392.85 335.1301 Tm 0 g ( )Tj ET 0.934 g 419.01 344.25 21.84 -11.04 re f BT 10.079 0 0 10.079 419.01 335.1301 Tm 0 g ( )Tj ET 0.934 g 441.09 344.25 12.24 -11.04 re f BT 10.079 0 0 10.079 441.09 335.1301 Tm 0 g ( )Tj ET 0.934 g 453.57 344.25 15.6 -11.04 re f BT 10.079 0 0 10.079 453.57 335.1301 Tm 0 g ( )Tj ET 0.934 g 469.41 344.25 25.92 -11.04 re f BT 10.079 0 0 10.079 469.41 335.1301 Tm 0 g ( )Tj ET 0.934 g 495.57 344.25 20.88 -11.04 re f BT 10.079 0 0 10.079 495.57 335.1301 Tm 0 g ( )Tj -39.6704 -1.1191 TD [( )-964.4( )-964.4(Cliffs and Associates Limited)-12254( )-988.2( )-1393( )-2345.5( )-1940.7( )-988.2( )-2155(25.9)-12.2( )]TJ ET 0.934 g 95.73 321.69 12 -11.04 re f BT 10.079 0 0 10.079 95.73 312.5701 Tm 0 g ( )Tj ET 0.934 g 107.97 321.69 12 -11.04 re f BT 10.079 0 0 10.079 107.97 312.5701 Tm 0 g ( )Tj ET 0.934 g 120.21 321.69 243.36 -11.04 re f BT 10.079 0 0 10.079 120.21 312.5701 Tm 0 g (Tilden Mining Company L.C)Tj ET 0.934 g 363.81 321.69 12.24 -11.04 re f BT 10.079 0 0 10.079 363.81 312.5701 Tm 0 g ( )Tj ET 0.934 g 376.29 321.69 16.32 -11.04 re f BT 10.079 0 0 10.079 376.29 312.5701 Tm 0 g ( )Tj ET 0.934 g 392.85 321.69 25.92 -11.04 re f BT 10.079 0 0 10.079 401.25 312.5701 Tm 0 g (25.7)Tj ET 0.934 g 419.01 321.69 21.84 -11.04 re f BT 10.079 0 0 10.079 419.01 312.5701 Tm 0 g ( )Tj ET 0.934 g 441.09 321.69 12.24 -11.04 re f BT 10.079 0 0 10.079 441.09 312.5701 Tm 0 g ( )Tj ET 0.934 g 453.57 321.69 15.6 -11.04 re f BT 10.079 0 0 10.079 453.57 312.5701 Tm 0 g ( )Tj ET 0.934 g 469.41 321.69 25.92 -11.04 re f BT 10.079 0 0 10.079 469.41 312.5701 Tm 0 g ( )Tj ET 0.934 g 495.57 321.69 20.88 -11.04 re f BT 10.079 0 0 10.079 495.57 312.5701 Tm 0 g ( )Tj -39.6704 -1.1192 TD 0.9882 Tc [( )-25359.6( )-404.8( )-1357.3( )-952.5( )-333.4( )-1357.3( )]TJ ET 0.934 g 95.73 299.13 267.84 -11.04 re f BT 10.079 0 0 10.079 95.73 290.0101 Tm 0 g -0.0001 Tc (SHAREHOLDERS)Tj /F2 1 Tf 7.8883 0 TD 0 Tc ()Tj /F12 1 Tf 0.333 0 TD -0.0001 Tc 0.0001 Tw ( EQUITY)Tj ET 0.934 g 363.81 299.13 12.24 -11.04 re f BT 10.079 0 0 10.079 363.81 290.0101 Tm 0 g 0 Tc 0 Tw ( )Tj ET 0.934 g 376.29 299.13 16.32 -11.04 re f BT 10.079 0 0 10.079 376.29 290.0101 Tm 0 g ( )Tj ET 0.934 g 392.85 299.13 25.92 -11.04 re f BT 10.079 0 0 10.079 392.85 290.0101 Tm 0 g ( )Tj ET 0.934 g 419.01 299.13 21.84 -11.04 re f BT 10.079 0 0 10.079 419.01 290.0101 Tm 0 g ( )Tj ET 0.934 g 441.09 299.13 12.24 -11.04 re f BT 10.079 0 0 10.079 441.09 290.0101 Tm 0 g ( )Tj ET 0.934 g 453.57 299.13 15.6 -11.04 re f BT 10.079 0 0 10.079 453.57 290.0101 Tm 0 g ( )Tj ET 0.934 g 469.41 299.13 25.92 -11.04 re f BT 10.079 0 0 10.079 469.41 290.0101 Tm 0 g ( )Tj ET 0.934 g 495.57 299.13 20.88 -11.04 re f BT 10.079 0 0 10.079 495.57 290.0101 Tm 0 g ( )Tj -39.6704 -1.1192 TD 0.9644 Tw [( Preferred )964.4(Stock)-17921.5( )-23.8( )-428.6( )-1381.1( )-976.3( )-23.8( )-357.2( )-1381.1( )]TJ ET 0.934 g 95.73 276.57 12 -11.04 re f BT 10.079 0 0 10.079 95.73 267.4501 Tm 0 g 0 Tw ( )Tj ET 0.934 g 107.97 276.57 12 -11.04 re f BT 10.079 0 0 10.079 107.97 267.4501 Tm 0 g ( )Tj ET 0.934 g 120.21 276.57 12.24 -11.04 re f BT 10.079 0 0 10.079 120.21 267.4501 Tm 0 g ( )Tj ET 0.934 g 132.69 276.57 230.88 -11.04 re f BT 10.079 0 0 10.079 132.69 267.4501 Tm 0 g (Class A - 500,000 shares authorized and unissued)Tj ET 0.934 g 363.81 276.57 12.24 -11.04 re f BT 10.079 0 0 10.079 363.81 267.4501 Tm 0 g ( )Tj ET 0.934 g 376.29 276.57 16.32 -11.04 re f BT 10.079 0 0 10.079 376.29 267.4501 Tm 0 g ( )Tj ET 0.934 g 392.85 276.57 25.92 -11.04 re f BT 10.079 0 0 10.079 392.85 267.4501 Tm 0 g ( )Tj ET 0.934 g 419.01 276.57 21.84 -11.04 re f BT 10.079 0 0 10.079 419.01 267.4501 Tm 0 g ( )Tj ET 0.934 g 441.09 276.57 12.24 -11.04 re f BT 10.079 0 0 10.079 441.09 267.4501 Tm 0 g ( )Tj ET 0.934 g 453.57 276.57 15.6 -11.04 re f BT 10.079 0 0 10.079 453.57 267.4501 Tm 0 g ( )Tj ET 0.934 g 469.41 276.57 25.92 -11.04 re f BT 10.079 0 0 10.079 469.41 267.4501 Tm 0 g ( )Tj ET 0.934 g 495.57 276.57 20.88 -11.04 re f BT 10.079 0 0 10.079 495.57 267.4501 Tm 0 g ( )Tj -39.6704 -1.1192 TD [( )-964.4( )-964.4( )-988.2(Class B - 4,000,000 shares authorized and unissued)-2351.6( )-988.2( )-1393( )-2345.5( )-1940.7( )-988.2( )-1321.6( )-2345.5( )]TJ ET 0.934 g 95.73 254.01 12 -11.04 re f BT 10.079 0 0 10.079 95.73 244.8901 Tm 0 g ( )Tj ET 0.934 g 107.97 254.01 12 -11.04 re f BT 10.079 0 0 10.079 107.97 244.8901 Tm 0 g ( )Tj ET 0.934 g 120.21 254.01 243.36 -11.04 re f BT 10.079 0 0 10.079 120.21 244.8901 Tm 0 g (Common Shares )Tj /F2 1 Tf 6.8884 0 TD ()Tj /F12 1 Tf 0.9999 0 TD ( par value $1 a share)Tj ET 0.934 g 363.81 254.01 12.24 -11.04 re f BT 10.079 0 0 10.079 363.81 244.8901 Tm 0 g ( )Tj ET 0.934 g 376.29 254.01 16.32 -11.04 re f BT 10.079 0 0 10.079 376.29 244.8901 Tm 0 g ( )Tj ET 0.934 g 392.85 254.01 25.92 -11.04 re f BT 10.079 0 0 10.079 392.85 244.8901 Tm 0 g ( )Tj ET 0.934 g 419.01 254.01 21.84 -11.04 re f BT 10.079 0 0 10.079 419.01 244.8901 Tm 0 g ( )Tj ET 0.934 g 441.09 254.01 12.24 -11.04 re f BT 10.079 0 0 10.079 441.09 244.8901 Tm 0 g ( )Tj ET 0.934 g 453.57 254.01 15.6 -11.04 re f BT 10.079 0 0 10.079 453.57 244.8901 Tm 0 g ( )Tj ET 0.934 g 469.41 254.01 25.92 -11.04 re f BT 10.079 0 0 10.079 469.41 244.8901 Tm 0 g ( )Tj ET 0.934 g 495.57 254.01 20.88 -11.04 re f BT 10.079 0 0 10.079 495.57 244.8901 Tm 0 g ( )Tj -39.6704 -1.1192 TD [( )-964.4( )-964.4( )-988.2(Authorized - 28,000,000 shares;)-10072.9( )-988.2( )-1393( )-2345.5( )-1940.7( )-988.2( )-1321.6( )-2345.5( )]TJ ET 0.934 g 95.73 231.45 12 -11.04 re f BT 10.079 0 0 10.079 95.73 222.3301 Tm 0 g ( )Tj ET 0.934 g 107.97 231.45 12 -11.04 re f BT 10.079 0 0 10.079 107.97 222.3301 Tm 0 g ( )Tj ET 0.934 g 120.21 231.45 12.24 -11.04 re f BT 10.079 0 0 10.079 120.21 222.3301 Tm 0 g ( )Tj ET 0.934 g 132.69 231.45 230.88 -11.04 re f BT 10.079 0 0 10.079 132.69 222.3301 Tm 0 g (Issued - 16,827,941 shares)Tj ET 0.934 g 363.81 231.45 12.24 -11.04 re f BT 10.079 0 0 10.079 363.81 222.3301 Tm 0 g ( )Tj ET 0.934 g 376.29 231.45 16.32 -11.04 re f BT 10.079 0 0 10.079 376.29 222.3301 Tm 0 g ( )Tj ET 0.934 g 392.85 231.45 25.92 -11.04 re f BT 10.079 0 0 10.079 401.25 222.3301 Tm 0 g (16.8)Tj ET 0.934 g 419.01 231.45 21.84 -11.04 re f BT 10.079 0 0 10.079 419.01 222.3301 Tm 0 g ( )Tj ET 0.934 g 441.09 231.45 12.24 -11.04 re f BT 10.079 0 0 10.079 441.09 222.3301 Tm 0 g ( )Tj ET 0.934 g 453.57 231.45 15.6 -11.04 re f BT 10.079 0 0 10.079 453.57 222.3301 Tm 0 g ( )Tj ET 0.934 g 469.41 231.45 25.92 -11.04 re f BT 10.079 0 0 10.079 477.81 222.3301 Tm 0 g (16.8)Tj ET 0.934 g 495.57 231.45 20.88 -11.04 re f BT 10.079 0 0 10.079 495.57 222.3301 Tm 0 g ( )Tj -39.6704 -1.1192 TD [( )-964.4( )-964.4(Capital in excess of par value of shares)-8535.4( )-988.2( )-2226.4(71.8)-12.2( )-1940.7( )-988.2( )-2155(66.2)-12.2( )]TJ ET 0.934 g 95.73 208.89 12 -11.04 re f BT 10.079 0 0 10.079 95.73 199.7701 Tm 0 g ( )Tj ET 0.934 g 107.97 208.89 12 -11.04 re f BT 10.079 0 0 10.079 107.97 199.7701 Tm 0 g ( )Tj ET 0.934 g 120.21 208.89 243.36 -11.04 re f BT 10.079 0 0 10.079 120.21 199.7701 Tm 0 g (Retained income)Tj ET 0.934 g 363.81 208.89 12.24 -11.04 re f BT 10.079 0 0 10.079 363.81 199.7701 Tm 0 g ( )Tj ET 0.934 g 376.29 208.89 16.32 -11.04 re f BT 10.079 0 0 10.079 376.29 199.7701 Tm 0 g ( )Tj ET 0.934 g 392.85 208.89 25.92 -11.04 re f BT 10.079 0 0 10.079 396.21 199.7701 Tm 0 g (372.3)Tj ET 0.934 g 419.01 208.89 21.84 -11.04 re f BT 10.079 0 0 10.079 419.01 199.7701 Tm 0 g ( )Tj ET 0.934 g 441.09 208.89 12.24 -11.04 re f BT 10.079 0 0 10.079 441.09 199.7701 Tm 0 g ( )Tj ET 0.934 g 453.57 208.89 15.6 -11.04 re f BT 10.079 0 0 10.079 453.57 199.7701 Tm 0 g ( )Tj ET 0.934 g 469.41 208.89 25.92 -11.04 re f BT 10.079 0 0 10.079 472.77 199.7701 Tm 0 g (476.7)Tj ET 0.934 g 495.57 208.89 20.88 -11.04 re f BT 10.079 0 0 10.079 495.57 199.7701 Tm 0 g ( )Tj -39.6704 -1.1192 TD [( )-964.4( )-964.4(Accumulated other comprehensive loss, net of tax)-4146.7( )-2369.3( )-1012(\(1.9)-12.5(\))-1857.7( )-2297.9( )-1012(\(1.0)-12.5(\))]TJ ET 0.934 g 95.73 186.33 12 -22.32 re f BT 10.079 0 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g 529.41 725.37 14.88 -11.04 re f BT 10.079 0 0 10.079 529.41 716.2501 Tm 0 g ( )Tj -45.8139 -1.1191 TD ( )Tj 34.8367 0 TD 0.7739 Tc ( )Tj ET 0.5 g 444.21 708.81 25.92 -0.48 re f BT 10.079 0 0 10.079 470.37 704.9701 Tm 0 g 1.2501 Tc [( )452.4( )]TJ ET 0.5 g 506.61 708.81 22.56 -0.48 re f BT 10.079 0 0 10.079 529.41 704.9701 Tm 0 g 0 Tc ( )Tj -45.8139 -1.1192 TD [( )-773.9( )-773.9(Total before changes in operating assets and liabilities)-11099.8( )-773.9( )-2583.6(7.9)-12.1( )-1250.1( )-1583.5( )-178.6(\(19.2)-12.6(\))]TJ ET 0.934 g 67.65 691.53 10.08 -11.04 re f BT 10.079 0 0 10.079 67.65 682.41 Tm 0 g ( )Tj ET 0.934 g 77.97 691.53 340.56 -11.04 re f BT 10.079 0 0 10.079 77.97 682.41 Tm 0 g (Changes in operating assets and liabilities)Tj ET 0.934 g 418.77 691.53 10.08 -11.04 re f BT 10.079 0 0 10.079 418.77 682.41 Tm 0 g ( )Tj ET 0.934 g 429.09 691.53 14.88 -11.04 re f BT 10.079 0 0 10.079 429.09 682.41 Tm 0 g ( )Tj ET 0.934 g 444.21 691.53 25.92 -11.04 re f BT 10.079 0 0 10.079 452.61 682.41 Tm 0 g (28.5)Tj ET 0.934 g 470.37 691.53 14.88 -11.04 re f BT 10.079 0 0 10.079 470.37 682.41 Tm 0 g ( )Tj ET 0.934 g 485.49 691.53 10.32 -11.04 re f BT 10.079 0 0 10.079 485.49 682.41 Tm 0 g ( )Tj ET 0.934 g 496.05 691.53 10.32 -11.04 re f BT 10.079 0 0 10.079 503.97 682.41 Tm 0 g ( )Tj ET 0.934 g 506.61 691.53 22.56 -11.04 re f BT 10.079 0 0 10.079 508.2899 682.41 Tm 0 g (\(12.8)Tj ET 0.934 g 529.41 691.53 14.88 -11.04 re f BT 10.079 0 0 10.079 529.41 682.41 Tm 0 g (\))Tj -45.8139 -1.1192 TD ( )Tj 34.8367 0 TD 0.7739 Tc ( )Tj ET 0.5 g 444.21 674.97 25.92 -0.48 re f BT 10.079 0 0 10.079 470.37 671.1301 Tm 0 g 1.2501 Tc [( )452.4( )]TJ ET 0.5 g 506.61 674.97 22.56 -0.48 re f BT 10.079 0 0 10.079 529.41 671.1301 Tm 0 g 0 Tc ( )Tj -45.8139 -1.1191 TD [( )-773.9( )-773.9( )-773.9(Net cash from \(used by\) operating activities)-14214.5( )-773.9( )-2083.6(36.4)-12.2( )-1250.1( )-1583.5( )-178.6(\(32.0)-12.6(\))]TJ ET 0.934 g 67.65 657.69 350.88 -11.04 re f BT 10.079 0 0 10.079 67.65 648.5701 Tm 0 g ( )Tj ET 0.934 g 418.77 657.69 10.08 -11.04 re f BT 10.079 0 0 10.079 418.77 648.5701 Tm 0 g ( )Tj ET 0.934 g 429.09 657.69 14.88 -11.04 re f BT 10.079 0 0 10.079 429.09 648.5701 Tm 0 g ( )Tj ET 0.934 g 444.21 657.69 25.92 -11.04 re f BT 10.079 0 0 10.079 444.21 648.5701 Tm 0 g ( )Tj ET 0.934 g 470.37 657.69 14.88 -11.04 re f BT 10.079 0 0 10.079 470.37 648.5701 Tm 0 g ( )Tj ET 0.934 g 485.49 657.69 10.32 -11.04 re f BT 10.079 0 0 10.079 485.49 648.5701 Tm 0 g ( )Tj ET 0.934 g 496.05 657.69 10.32 -11.04 re f BT 10.079 0 0 10.079 496.05 648.5701 Tm 0 g ( )Tj ET 0.934 g 506.61 657.69 22.56 -11.04 re f BT 10.079 0 0 10.079 506.61 648.5701 Tm 0 g ( )Tj ET 0.934 g 529.41 657.69 14.88 -11.04 re f BT 10.079 0 0 10.079 529.41 648.5701 Tm 0 g ( )Tj -45.8139 -1.1192 TD -0.0001 Tc 1.2502 Tw [(INVESTING )1250.1(ACTIVITIES)-23756.7( )476.2( )-1095.4( )452.4( )452.4( )-762( )]TJ ET 0.934 g 67.65 635.13 10.08 -11.04 re f BT 10.079 0 0 10.079 67.65 626.0101 Tm 0 g 0 Tc 0 Tw ( )Tj ET 0.934 g 77.97 635.13 340.56 -11.04 re f BT 10.079 0 0 10.079 77.97 626.0101 Tm 0 g (Purchase of property, plant and equipment:)Tj ET 0.934 g 418.77 635.13 10.08 -11.04 re f BT 10.079 0 0 10.079 418.77 626.0101 Tm 0 g ( )Tj ET 0.934 g 429.09 635.13 14.88 -11.04 re f BT 10.079 0 0 10.079 429.09 626.0101 Tm 0 g ( )Tj ET 0.934 g 444.21 635.13 25.92 -11.04 re f BT 10.079 0 0 10.079 444.21 626.0101 Tm 0 g ( )Tj ET 0.934 g 470.37 635.13 14.88 -11.04 re f BT 10.079 0 0 10.079 470.37 626.0101 Tm 0 g ( )Tj ET 0.934 g 485.49 635.13 10.32 -11.04 re f BT 10.079 0 0 10.079 485.49 626.0101 Tm 0 g ( )Tj ET 0.934 g 496.05 635.13 10.32 -11.04 re f BT 10.079 0 0 10.079 496.05 626.0101 Tm 0 g ( )Tj ET 0.934 g 506.61 635.13 22.56 -11.04 re f BT 10.079 0 0 10.079 506.61 626.0101 Tm 0 g ( )Tj ET 0.934 g 529.41 635.13 14.88 -11.04 re f BT 10.079 0 0 10.079 529.41 626.0101 Tm 0 g ( )Tj -45.8139 -1.1192 TD 0.7739 Tw [( Consolidated)-27511.3( )-476.2( )-1571.6( )-476.2( )-23.8( )-23.8( )-1238.2( )]TJ ET 0.934 g 67.65 612.57 10.08 -11.04 re f BT 10.079 0 0 10.079 67.65 603.4501 Tm 0 g 0 Tw ( )Tj ET 0.934 g 77.97 612.57 10.08 -11.04 re f BT 10.079 0 0 10.079 77.97 603.4501 Tm 0 g ( )Tj ET 0.934 g 88.29 612.57 10.08 -11.04 re f BT 10.079 0 0 10.079 88.29 603.4501 Tm 0 g ( )Tj ET 0.934 g 98.61 612.57 319.92 -11.04 re f BT 10.079 0 0 10.079 98.61 603.4501 Tm 0 g (Cliffs and Associates Limited)Tj ET 0.934 g 418.77 612.57 10.08 -11.04 re f BT 10.079 0 0 10.079 418.77 603.4501 Tm 0 g ( )Tj ET 0.934 g 429.09 612.57 14.88 -11.04 re f BT 10.079 0 0 10.079 429.09 603.4501 Tm 0 g ( )Tj ET 0.934 g 444.21 612.57 25.92 -11.04 re f BT 10.079 0 0 10.079 444.21 603.4501 Tm 0 g ( )Tj ET 0.934 g 470.37 612.57 14.88 -11.04 re f BT 10.079 0 0 10.079 470.37 603.4501 Tm 0 g ( )Tj ET 0.934 g 485.49 612.57 10.32 -11.04 re f BT 10.079 0 0 10.079 485.49 603.4501 Tm 0 g ( )Tj ET 0.934 g 496.05 612.57 10.32 -11.04 re f BT 10.079 0 0 10.079 503.97 603.4501 Tm 0 g ( )Tj ET 0.934 g 506.61 612.57 22.56 -11.04 re f BT 10.079 0 0 10.079 513.33 603.4501 Tm 0 g (\(6.0)Tj ET 0.934 g 529.41 612.57 14.88 -11.04 re f BT 10.079 0 0 10.079 529.41 603.4501 Tm 0 g (\))Tj -45.8139 -1.1192 TD 0.7739 Tw [( All )773.9(other)-28182.2( )-1238.2( )-238.1(\(7.1)-12.5(\))-1167.1( )-809.6( )95.2(\(2.6)-12.5(\))]TJ ET 0.934 g 67.65 590.01 10.08 -11.04 re f BT 10.079 0 0 10.079 67.65 580.8901 Tm 0 g 0 Tw ( )Tj ET 0.934 g 77.97 590.01 10.08 -11.04 re f BT 10.079 0 0 10.079 77.97 580.8901 Tm 0 g ( )Tj ET 0.934 g 88.29 590.01 330.24 -11.04 re f BT 10.079 0 0 10.079 88.29 580.8901 Tm 0 g (Share of associated iron ore ventures)Tj ET 0.934 g 418.77 590.01 10.08 -11.04 re f BT 10.079 0 0 10.079 418.77 580.8901 Tm 0 g ( )Tj ET 0.934 g 429.09 590.01 14.88 -11.04 re f BT 10.079 0 0 10.079 441.57 580.8901 Tm 0 g ( )Tj ET 0.934 g 444.21 590.01 25.92 -11.04 re f BT 10.079 0 0 10.079 454.29 580.8901 Tm 0 g (\(1.7)Tj ET 0.934 g 470.37 590.01 14.88 -11.04 re f BT 10.079 0 0 10.079 470.37 580.8901 Tm 0 g (\))Tj ET 0.934 g 485.49 590.01 10.32 -11.04 re f BT 10.079 0 0 10.079 485.49 580.8901 Tm 0 g ( )Tj ET 0.934 g 496.05 590.01 10.32 -11.04 re f BT 10.079 0 0 10.079 503.97 580.8901 Tm 0 g ( )Tj ET 0.934 g 506.61 590.01 22.56 -11.04 re f BT 10.079 0 0 10.079 513.33 580.8901 Tm 0 g (\(2.1)Tj ET 0.934 g 529.41 590.01 14.88 -11.04 re f BT 10.079 0 0 10.079 529.41 580.8901 Tm 0 g (\))Tj -45.8139 -1.1192 TD [( )-773.9(Investment in steel companies equity and debt)-15316.4( )-2012.1( )-512(\(27.4)-12.6(\))-1167.1( )-797.7( )-797.7( )-2012.1( )]TJ ET 0.934 g 67.65 567.45 10.08 -11.04 re f BT 10.079 0 0 10.079 67.65 558.3301 Tm 0 g ( )Tj ET 0.934 g 77.97 567.45 340.56 -11.04 re f BT 10.079 0 0 10.079 77.97 558.3301 Tm 0 g (Investment in power-related joint venture)Tj ET 0.934 g 418.77 567.45 10.08 -11.04 re f BT 10.079 0 0 10.079 418.77 558.3301 Tm 0 g ( )Tj ET 0.934 g 429.09 567.45 14.88 -11.04 re f BT 10.079 0 0 10.079 441.57 558.3301 Tm 0 g ( )Tj ET 0.934 g 444.21 567.45 25.92 -11.04 re f BT 10.079 0 0 10.079 454.29 558.3301 Tm 0 g (\(6.0)Tj ET 0.934 g 470.37 567.45 14.88 -11.04 re f BT 10.079 0 0 10.079 470.37 558.3301 Tm 0 g (\))Tj ET 0.934 g 485.49 567.45 10.32 -11.04 re f BT 10.079 0 0 10.079 485.49 558.3301 Tm 0 g ( )Tj ET 0.934 g 496.05 567.45 10.32 -11.04 re f BT 10.079 0 0 10.079 496.05 558.3301 Tm 0 g ( )Tj ET 0.934 g 506.61 567.45 22.56 -11.04 re f BT 10.079 0 0 10.079 506.61 558.3301 Tm 0 g ( )Tj ET 0.934 g 529.41 567.45 14.88 -11.04 re f BT 10.079 0 0 10.079 529.41 558.3301 Tm 0 g ( )Tj -45.8139 -1.1192 TD [( )-773.9(Proceeds from sale of assets)-22538.7( )-773.9( )-2583.6(6.7)-12.1( )-1250.1( )-797.7( )-1297.8(10.5)-12.2( )]TJ ET 0.934 g 67.65 544.89 10.08 -11.04 re f BT 10.079 0 0 10.079 67.65 535.7701 Tm 0 g ( )Tj ET 0.934 g 77.97 544.89 340.56 -11.04 re f BT 10.079 0 0 10.079 77.97 535.7701 Tm 0 g (Other)Tj ET 0.934 g 418.77 544.89 10.08 -11.04 re f BT 10.079 0 0 10.079 418.77 535.7701 Tm 0 g ( )Tj ET 0.934 g 429.09 544.89 14.88 -11.04 re f BT 10.079 0 0 10.079 429.09 535.7701 Tm 0 g ( )Tj ET 0.934 g 444.21 544.89 25.92 -11.04 re f BT 10.079 0 0 10.079 444.21 535.7701 Tm 0 g ( )Tj ET 0.934 g 470.37 544.89 14.88 -11.04 re f BT 10.079 0 0 10.079 470.37 535.7701 Tm 0 g ( )Tj ET 0.934 g 485.49 544.89 10.32 -11.04 re f BT 10.079 0 0 10.079 485.49 535.7701 Tm 0 g ( )Tj ET 0.934 g 496.05 544.89 10.32 -11.04 re f BT 10.079 0 0 10.079 503.97 535.7701 Tm 0 g ( )Tj ET 0.934 g 506.61 544.89 22.56 -11.04 re f BT 10.079 0 0 10.079 518.3699 535.7701 Tm 0 g (\(.4)Tj ET 0.934 g 529.41 544.89 14.88 -11.04 re f BT 10.079 0 0 10.079 529.41 535.7701 Tm 0 g (\))Tj -45.8139 -1.1192 TD ( )Tj 34.8367 0 TD 0.7739 Tc ( )Tj ET 0.5 g 444.21 528.33 25.92 -0.48 re f BT 10.079 0 0 10.079 470.37 524.4901 Tm 0 g 1.2501 Tc [( )452.4( )]TJ ET 0.5 g 506.61 528.33 22.56 -0.48 re f BT 10.079 0 0 10.079 529.41 524.4901 Tm 0 g 0 Tc ( )Tj -45.8139 -1.1192 TD [( )-773.9( )-773.9( )-773.9(Net cash used by investing activities)-17184.2( )-2012.1( )-512(\(35.5)-12.6(\))-1167.1( )-1583.5( )-1178.7(\(.6)-12.4(\))]TJ ET 0.934 g 67.65 511.05 350.88 -11.04 re f BT 10.079 0 0 10.079 67.65 501.9301 Tm 0 g ( )Tj ET 0.934 g 418.77 511.05 10.08 -11.04 re f BT 10.079 0 0 10.079 418.77 501.9301 Tm 0 g ( )Tj ET 0.934 g 429.09 511.05 14.88 -11.04 re f BT 10.079 0 0 10.079 429.09 501.9301 Tm 0 g ( )Tj ET 0.934 g 444.21 511.05 25.92 -11.04 re f BT 10.079 0 0 10.079 444.21 501.9301 Tm 0 g ( )Tj ET 0.934 g 470.37 511.05 14.88 -11.04 re f BT 10.079 0 0 10.079 470.37 501.9301 Tm 0 g ( )Tj ET 0.934 g 485.49 511.05 10.32 -11.04 re f BT 10.079 0 0 10.079 485.49 501.9301 Tm 0 g ( )Tj ET 0.934 g 496.05 511.05 10.32 -11.04 re f BT 10.079 0 0 10.079 496.05 501.9301 Tm 0 g ( )Tj ET 0.934 g 506.61 511.05 22.56 -11.04 re f BT 10.079 0 0 10.079 506.61 501.9301 Tm 0 g ( )Tj ET 0.934 g 529.41 511.05 14.88 -11.04 re f BT 10.079 0 0 10.079 529.41 501.9301 Tm 0 g ( )Tj -45.8139 -1.1191 TD -0.0001 Tc 1.2502 Tw [(FINANCING )1250.1(ACTIVITIES)-23589.7( )476.2( )-1095.4( )452.4( )452.4( )-762( )]TJ ET 0.934 g 67.65 488.49 10.08 -11.04 re f BT 10.079 0 0 10.079 67.65 479.3701 Tm 0 g 0 Tc 0 Tw ( )Tj ET 0.934 g 77.97 488.49 340.56 -11.04 re f BT 10.079 0 0 10.079 77.97 479.3701 Tm 0 g (Borrowings under revolving credit facility)Tj ET 0.934 g 418.77 488.49 10.08 -11.04 re f BT 10.079 0 0 10.079 418.77 479.3701 Tm 0 g ( )Tj ET 0.934 g 429.09 488.49 14.88 -11.04 re f BT 10.079 0 0 10.079 429.09 479.3701 Tm 0 g ( )Tj ET 0.934 g 444.21 488.49 25.92 -11.04 re f BT 10.079 0 0 10.079 444.21 479.3701 Tm 0 g ( )Tj ET 0.934 g 470.37 488.49 14.88 -11.04 re f BT 10.079 0 0 10.079 470.37 479.3701 Tm 0 g ( )Tj ET 0.934 g 485.49 488.49 10.32 -11.04 re f BT 10.079 0 0 10.079 485.49 479.3701 Tm 0 g ( )Tj ET 0.934 g 496.05 488.49 10.32 -11.04 re f BT 10.079 0 0 10.079 496.05 479.3701 Tm 0 g ( )Tj ET 0.934 g 506.61 488.49 22.56 -11.04 re f BT 10.079 0 0 10.079 506.61 479.3701 Tm 0 g (100.0)Tj ET 0.934 g 529.41 488.49 14.88 -11.04 re f BT 10.079 0 0 10.079 529.41 479.3701 Tm 0 g ( )Tj -45.8139 -1.1192 TD [( )-773.9(Contributions by minority shareholders)-18064.1( )-773.9( )-3083.7(.8)-12( )-1250.1( )-797.7( )-1797.8(7.0)-12.1( )]TJ ET 0.934 g 67.65 465.93 10.08 -11.04 re f BT 10.079 0 0 10.079 67.65 456.8101 Tm 0 g ( )Tj ET 0.934 g 77.97 465.93 340.56 -11.04 re f BT 10.079 0 0 10.079 77.97 456.8101 Tm 0 g (Dividends)Tj ET 0.934 g 418.77 465.93 10.08 -11.04 re f BT 10.079 0 0 10.079 418.77 456.8101 Tm 0 g ( )Tj ET 0.934 g 429.09 465.93 14.88 -11.04 re f BT 10.079 0 0 10.079 429.09 456.8101 Tm 0 g ( )Tj ET 0.934 g 444.21 465.93 25.92 -11.04 re f BT 10.079 0 0 10.079 444.21 456.8101 Tm 0 g ( )Tj ET 0.934 g 470.37 465.93 14.88 -11.04 re f BT 10.079 0 0 10.079 470.37 456.8101 Tm 0 g ( )Tj ET 0.934 g 485.49 465.93 10.32 -11.04 re f BT 10.079 0 0 10.079 485.49 456.8101 Tm 0 g ( )Tj ET 0.934 g 496.05 465.93 10.32 -11.04 re f BT 10.079 0 0 10.079 503.97 456.8101 Tm 0 g ( )Tj ET 0.934 g 506.61 465.93 22.56 -11.04 re f BT 10.079 0 0 10.079 513.33 456.8101 Tm 0 g (\(3.1)Tj ET 0.934 g 529.41 465.93 14.88 -11.04 re f BT 10.079 0 0 10.079 529.41 456.8101 Tm 0 g (\))Tj -45.8139 -1.1192 TD ( )Tj 34.8367 0 TD 0.7739 Tc ( )Tj ET 0.5 g 444.21 449.37 25.92 -0.48 re f BT 10.079 0 0 10.079 470.37 445.5301 Tm 0 g 1.2501 Tc [( )452.4( )]TJ ET 0.5 g 506.61 449.37 22.56 -0.48 re f BT 10.079 0 0 10.079 529.41 445.5301 Tm 0 g 0 Tc ( )Tj -45.8139 -1.1192 TD [( )-773.9( )-773.9( )-773.9(Net cash from financing activities)-18213.1( )-773.9( )-3083.7(.8)-12( )-1250.1( )-797.7( )-797.7(103.9)-12.3( )]TJ T* ( )Tj 34.8367 0 TD 0.7739 Tc ( )Tj ET 0.5 g 444.21 426.81 25.92 -0.48 re f BT 10.079 0 0 10.079 470.37 422.9701 Tm 0 g 1.2501 Tc [( )452.4( )]TJ ET 0.5 g 506.61 426.81 22.56 -0.48 re f BT 10.079 0 0 10.079 529.41 422.9701 Tm 0 g 0 Tc ( )Tj ET 0.934 g 67.65 420.81 350.88 -11.04 re f BT 10.079 0 0 10.079 67.65 411.6901 Tm 0 g ( )Tj ET 0.934 g 418.77 420.81 10.08 -11.04 re f BT 10.079 0 0 10.079 418.77 411.6901 Tm 0 g ( )Tj ET 0.934 g 429.09 420.81 14.88 -11.04 re f BT 10.079 0 0 10.079 429.09 411.6901 Tm 0 g ( )Tj ET 0.934 g 444.21 420.81 25.92 -11.04 re f BT 10.079 0 0 10.079 444.21 411.6901 Tm 0 g ( )Tj ET 0.934 g 470.37 420.81 14.88 -11.04 re f BT 10.079 0 0 10.079 470.37 411.6901 Tm 0 g ( )Tj ET 0.934 g 485.49 420.81 10.32 -11.04 re f BT 10.079 0 0 10.079 485.49 411.6901 Tm 0 g ( )Tj ET 0.934 g 496.05 420.81 10.32 -11.04 re f BT 10.079 0 0 10.079 496.05 411.6901 Tm 0 g ( )Tj ET 0.934 g 506.61 420.81 22.56 -11.04 re f BT 10.079 0 0 10.079 506.61 411.6901 Tm 0 g ( )Tj ET 0.934 g 529.41 420.81 14.88 -11.04 re f BT 10.079 0 0 10.079 529.41 411.6901 Tm 0 g ( )Tj -45.8139 -1.1192 TD -0.0001 Tc 0.0001 Tw [(INCREASE IN CASH AND CASH EQUIVALENTS)-13201.7( )-773.9( )-2583.6(1.7)-12.2( )-1250.1( )-797.7( )-1297.8(71.3)-12.3( )]TJ ET 0.934 g 67.65 398.25 350.88 -11.04 re f BT 10.079 0 0 10.079 67.65 389.1301 Tm 0 g 0 Tc 0 Tw ( )Tj ET 0.934 g 418.77 398.25 10.08 -11.04 re f BT 10.079 0 0 10.079 418.77 389.1301 Tm 0 g ( )Tj ET 0.934 g 429.09 398.25 14.88 -11.04 re f BT 10.079 0 0 10.079 429.09 389.1301 Tm 0 g ( )Tj ET 0.934 g 444.21 398.25 25.92 -11.04 re f BT 10.079 0 0 10.079 444.21 389.1301 Tm 0 g ( )Tj ET 0.934 g 470.37 398.25 14.88 -11.04 re f BT 10.079 0 0 10.079 470.37 389.1301 Tm 0 g ( )Tj ET 0.934 g 485.49 398.25 10.32 -11.04 re f BT 10.079 0 0 10.079 485.49 389.1301 Tm 0 g ( )Tj ET 0.934 g 496.05 398.25 10.32 -11.04 re f BT 10.079 0 0 10.079 496.05 389.1301 Tm 0 g ( )Tj ET 0.934 g 506.61 398.25 22.56 -11.04 re f BT 10.079 0 0 10.079 506.61 389.1301 Tm 0 g ( )Tj ET 0.934 g 529.41 398.25 14.88 -11.04 re f BT 10.079 0 0 10.079 529.41 389.1301 Tm 0 g ( )Tj -45.8139 -1.1192 TD -0.0001 Tc 0.0001 Tw [(CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD)-6870.2( )-773.9( )-1583.5(183.8)-12.4( )-1250.1( )-797.7( )-1297.8(29.9)-12.3( )]TJ T* 0 Tc 0 Tw ( )Tj 34.8367 0 TD 0.7739 Tc ( )Tj ET 0.5 g 444.21 370.41 25.92 -0.48 re f BT 10.079 0 0 10.079 470.37 366.5701 Tm 0 g 1.2501 Tc [( )452.4( )]TJ ET 0.5 g 506.61 370.41 22.56 -0.48 re f BT 10.079 0 0 10.079 529.41 366.5701 Tm 0 g 0 Tc ( )Tj ET 0.934 g 67.65 364.41 350.88 -11.04 re f BT 10.079 0 0 10.079 67.65 355.2901 Tm 0 g ( )Tj ET 0.934 g 418.77 364.41 10.08 -11.04 re f BT 10.079 0 0 10.079 418.77 355.2901 Tm 0 g ( )Tj ET 0.934 g 429.09 364.41 14.88 -11.04 re f BT 10.079 0 0 10.079 429.09 355.2901 Tm 0 g ( )Tj ET 0.934 g 444.21 364.41 25.92 -11.04 re f BT 10.079 0 0 10.079 444.21 355.2901 Tm 0 g ( )Tj ET 0.934 g 470.37 364.41 14.88 -11.04 re f BT 10.079 0 0 10.079 470.37 355.2901 Tm 0 g ( )Tj ET 0.934 g 485.49 364.41 10.32 -11.04 re f BT 10.079 0 0 10.079 485.49 355.2901 Tm 0 g ( )Tj ET 0.934 g 496.05 364.41 10.32 -11.04 re f BT 10.079 0 0 10.079 496.05 355.2901 Tm 0 g ( )Tj ET 0.934 g 506.61 364.41 22.56 -11.04 re f BT 10.079 0 0 10.079 506.61 355.2901 Tm 0 g ( )Tj ET 0.934 g 529.41 364.41 14.88 -11.04 re f BT 10.079 0 0 10.079 529.41 355.2901 Tm 0 g ( )Tj -45.8139 -1.1192 TD -0.0001 Tc 0.0001 Tw [(CASH AND CASH EQUIVALENTS AT END OF PERIOD)-10368.9( )-1774($)-333.5(185.5)-12.4( )-1250.1( )-1345.4($101.2)-12.4( )]TJ T* 0 Tc 0 Tw ( )Tj 34.8367 0 TD 0.7739 Tc ( )Tj ET 0.5 g 444.21 337.77 25.92 -2.88 re f BT 10.079 0 0 10.079 470.37 332.7301 Tm 0 g 1.2501 Tc [( )452.4( )]TJ ET 0.5 g 506.61 337.77 22.56 -2.88 re f BT 10.079 0 0 10.079 529.41 332.7301 Tm 0 g 0 Tc ( )Tj -49.981 -2.524 TD (See notes to consolidated financial statements. )Tj 27.5741 -2.6907 TD (4)Tj ET endstreamendobj13 0 obj<< /Type /Page /Parent 99 0 R /Resources 14 0 R /Contents 15 0 R /MediaBox [ 0 0 612 1008 ] /CropBox [ 0 0 612 1008 ] /Rotate 0 >> endobj14 0 obj<< /ProcSet [ /PDF /Text ] /Font << /F2 120 0 R /F4 93 0 R /F6 119 0 R /F12 91 0 R /F13 92 0 R >> /ExtGState << /GS1 124 0 R >> >> endobj15 0 obj<< /Length 4651 >> stream 1 g /GS1 gs 1 i 18.21 989.85 575.76 -493.2 re f BT /F12 1 Tf 12 0 0 12 25.65 979.05 Tm 0 g 0 Tc 0 Tw ( )Tj /F13 1 Tf 10.079 0 0 10.079 154.05 952.41 Tm -0.0001 Tc 0.0001 Tw (CLEVELAND-CLIFFS INC AND CONSOLIDATED SUBSIDIARIES)Tj 1.9049 -2.6431 TD (NOTES TO CONSOLIDATED FINANCIAL STATEMENTS)Tj 8.2151 -2.6431 TD (SEPTEMBER 30, 2002)Tj -22.8593 -2.6431 TD (NOTE A )Tj /F6 1 Tf 4.0556 0 TD 0 Tc 0 Tw ()Tj /F13 1 Tf 0.9999 0 TD -0.0001 Tc 0.0001 Tw ( BASIS OF PRESENTATION)Tj /F12 1 Tf -5.0555 -2.5717 TD 0 Tc 0 Tw ( The accompanying unaudited consolidated financial statements have been prepared in accordance with the instructions to For)Tj 51.4853 0 TD -0.0001 Tc 0.0001 Tw (m 10-Q )Tj -51.4853 -1.1192 TD 0 Tc 0 Tw (and should be read in conjunction with the financial statement footnotes and other information in the Company)Tj /F2 1 Tf 44.436 0 TD ()Tj /F12 1 Tf 0.333 0 TD (s 2001 Annual Report on )Tj -44.7689 -1.1192 TD (Form 10-K. In management)Tj /F2 1 Tf 11.164 0 TD ()Tj /F12 1 Tf 0.333 0 TD (s opinion, the quarterly unaudited consolidated financial statements present fairly the Company)Tj /F2 1 Tf 38.1585 0 TD ()Tj /F12 1 Tf 0.333 0 TD (s financial )Tj -49.9885 -1.1191 TD (position, results of operations and cash flows in accordance with generally accepted accounting principles in the United States)Tj 50.4864 0 TD (. )Tj -50.4864 -2.524 TD ( The preparation of financial statements in conformity with generally accepted accounting principles requires management to)Tj 51.0684 0 TD ( make )Tj -51.0684 -1.1192 TD (estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and li)Tj 49.5455 0 TD (abilities at )Tj -49.5455 -1.1191 TD (the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. 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The consolidated financial statements include )Tj -13.2178 -1.1192 TD (the accounts of the Company and its majority-owned subsidiaries, including the Tilden Mining Company L.C. \()Tj /F2 1 Tf 44.7159 0 TD ()Tj /F12 1 Tf 0.444 0 TD (Tilden)Tj /F2 1 Tf 2.6108 0 TD ()Tj /F12 1 Tf 0.444 0 TD (\) since )Tj -48.2146 -1.1192 TD (January 31, 2002 when the Company increased its ownership from 40 percent to 85 percent. On August 29, 2002, the Company acquir)Tj 53.8481 0 TD (ed )Tj -53.8481 -1.1191 TD (100 percent ownership in Wabush Iron Co. Ltd. \()Tj /F2 1 Tf 19.7172 0 TD ()Tj /F12 1 Tf 0.444 0 TD (Wabush Iron)Tj /F2 1 Tf 5.1925 0 TD ()Tj /F12 1 Tf 0.444 0 TD (\), which owns 26.83 percent of the Wabush Mines Joint Venture, when )Tj -25.7977 -1.1192 TD (Acme Steel Company rejected its interest in Wabush Iron. As a result, Wabush Iron became a consolidated subsidiary in the third)Tj 51.8203 0 TD ( )Tj -51.8203 -1.1192 TD (quarter; previously, the Company accounted for its Wabush Iron interest in the Investment in Associated Iron Ore Ventures. Quar)Tj 51.8743 0 TD (terly )Tj -51.8743 -1.1192 TD (results historically are not representative of annual results due to seasonal and other factors. Certain prior year amounts hav)Tj 49.3465 0 TD (e been )Tj -49.3465 -1.1192 TD (reclassified to conform to current year classifications. )Tj /F13 1 Tf 0 -2.5955 TD -0.0001 Tc 0.0001 Tw (NOTE B )Tj /F6 1 Tf 4.0006 0 TD 0 Tc 0 Tw ()Tj /F13 1 Tf 0.9999 0 TD -0.0001 Tc 0.0001 Tw ( ACCOUNTING POLICIES)Tj /F4 1 Tf -5.0005 -2.5717 TD 0 Tc 0 Tw (Asset Impairment)Tj /F12 1 Tf 0 -2.5479 TD ( The Company monitors conditions that may affect the carrying value of its long-lived and intangible assets when events and)Tj 50.9614 0 TD ( )Tj -50.9614 -1.1192 TD (circumstances indicate that the carrying value of the asset may be impaired. The Company determines impairment on the )Tj 27.5741 -2.6907 TD (5)Tj ET endstreamendobj16 0 obj<< /Type /Page /Parent 99 0 R /Resources 17 0 R /Contents 18 0 R /MediaBox [ 0 0 612 1008 ] /CropBox [ 0 0 612 1008 ] /Rotate 0 >> endobj17 0 obj<< /ProcSet [ /PDF /Text ] /Font << /F2 120 0 R /F4 93 0 R /F6 119 0 R /F12 91 0 R /F13 92 0 R >> /ExtGState << /GS1 124 0 R >> >> endobj18 0 obj<< /Length 4792 >> stream 1 g /GS1 gs 1 i 18.21 989.85 575.76 -485.76 re f BT /F12 1 Tf 12 0 0 12 25.65 979.05 Tm 0 g 0 Tc 0 Tw ( )Tj 10.079 0 0 10.079 25.65 953.13 Tm (asset)Tj /F2 1 Tf 1.9438 0 TD ()Tj /F12 1 Tf 0.333 0 TD (s ability to generate cash flows greater than the carrying value of the asset, using an undiscounted probability-weighted analy)Tj 50.0695 0 TD (sis. If )Tj -52.3463 -1.1191 TD (projected undiscounted cash flows are less than the carrying value of the asset, the assets are adjusted to their fair value \(N)Tj 49.0396 0 TD (ote J\). )Tj /F4 1 Tf -49.0396 -2.524 TD (Income Taxes)Tj /F12 1 Tf 0 -2.5479 TD ( Income taxes are based on income \(loss\) for financial reporting purposes and reflect a current tax liability \(asset\) for t)Tj 48.2616 0 TD (he estimated )Tj -48.2616 -1.1191 TD (taxes payable \(recoverable\) in the current year tax return and changes in deferred taxes. 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Depreciable asset lives and mine closure accruals are based on )Tj T* (remaining economic iron ore reserves. )Tj /F13 1 Tf 0 -2.5955 TD -0.0001 Tc 0.0001 Tw (NOTE C )Tj /F6 1 Tf 4.0556 0 TD 0 Tc 0 Tw ()Tj /F13 1 Tf 0.9999 0 TD -0.0001 Tc 0.0001 Tw ( ACCOUNTING AND DISCLOSURE CHANGES)Tj /F12 1 Tf -5.0555 -2.5717 TD 0 Tc 0 Tw ( Effective January 1, 2001, the Company changed its method of accounting for investment gains and losses on pension assets )Tj 51.3223 0 TD (for the )Tj -51.3223 -1.1192 TD (calculation of net periodic pension cost from a method that deferred and amortized realized and unrealized gains and losses ove)Tj 51.0114 0 TD (r five )Tj -51.0114 -1.1191 TD (years for most pension plans to a method that recognizes the changes immediately. The cumulative effect of this accounting chan)Tj 51.7083 0 TD (ge )Tj -51.7083 -1.1192 TD (related to prior years was a one-time non-cash credit of $9.3 million \($14.3 million pre-tax\) recognized as of January 1, 2001.)Tj 50.2634 0 TD ( The pro )Tj -50.2634 -1.1192 TD (forma effect of this change on 2001 results for the third quarter and first nine months would have been less than $.1 million o)Tj 50.0995 0 TD (f income. )Tj -50.0995 -2.524 TD ( In July 2001, the FASB issued SFAS No. 142, )Tj /F2 1 Tf 20.0832 0 TD ()Tj /F12 1 Tf 0.444 0 TD (Goodwill and Other Intangible Assets.)Tj /F2 1 Tf 15.4136 0 TD ()Tj /F12 1 Tf 0.444 0 TD ( SFAS 142 requires testing of goodwill and )Tj -36.3847 -1.1192 TD (intangible assets with indefinite lives for impairment rather than amortizing them. The adoption of this statement in the first)Tj 49.5195 0 TD ( quarter of )Tj -49.5195 -1.1192 TD (2002 did not have a significant impact on the Company)Tj /F2 1 Tf 22.191 0 TD ()Tj /F12 1 Tf 0.333 0 TD (s financial results. )Tj -22.524 -2.524 TD ( In July 2001, the FASB issued SFAS No. 143, )Tj /F2 1 Tf 20.0832 0 TD ()Tj /F12 1 Tf 0.444 0 TD (Accounting for Asset Retirement Obligations,)Tj /F2 1 Tf 18.4133 0 TD ()Tj /F12 1 Tf 0.444 0 TD ( which addresses financial accounting )Tj -39.3844 -1.1192 TD (and reporting for obligations associated with the retirement of tangible long-lived assets and the related asset retirement cos)Tj 49.4595 0 TD (ts. The )Tj -49.4595 -1.1192 TD (statement requires that the fair value of a liability for an asset retirement obligation be recognized in the period in which i)Tj 48.5706 0 TD (t is incurred )Tj -48.5706 -1.1192 TD (and capitalized as part of the carrying amount of the long-lived asset. 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The statement is effective for fiscal years beginning after June 15, 2)Tj 48.1536 0 TD (002 with early )Tj -48.1536 -1.1191 TD (adoption encouraged. The Company may decide in the fourth quarter to adopt the standard early \(in 2002\) as opposed to waiting u)Tj 52.1533 0 TD (ntil )Tj -52.1533 -1.1192 TD (January 1, 2003. Based on preliminary analysis, the Company does not expect the cumulative effect charge, upon adoption of this)Tj 51.9043 0 TD ( )Tj -51.9043 -1.1192 TD (standard, to exceed $20 million; however, the Company continues to refine its estimate and the effect of this standard on its c)Tj 50.1275 0 TD (onsolidated )Tj -50.1275 -1.1192 TD (financial statements. The Company has been accruing closure costs on a prospective basis since 1999. )Tj 0 -2.524 TD ( In October 2001, the FASB issued SFAS No. 144, )Tj /F2 1 Tf 21.637 0 TD ()Tj /F12 1 Tf 0.444 0 TD (Accounting for the Impairment or Disposal of Long-Lived Assets)Tj /F2 1 Tf 26.2716 0 TD ()Tj /F12 1 Tf 0.444 0 TD ( which )Tj -48.7966 -1.1192 TD (supersedes SFAS No. 121, )Tj /F2 1 Tf 10.943 0 TD ()Tj /F12 1 Tf 0.444 0 TD (Accounting for the Impairment of Long-Lived Assets and for Long-Lived Assets to be Disposed Of.)Tj /F2 1 Tf 40.1844 0 TD ()Tj /F12 1 Tf 0.444 0 TD ( )Tj -52.0153 -1.1192 TD (Although retaining many of the provisions of SFAS No. 121, SFAS No. 144 establishes a uniform accounting model for long-lived a)Tj 53.1872 0 TD (ssets )Tj -53.1872 -1.1191 TD (to be disposed. This statement also requires that long-lived assets be reviewed for impairment whenever events or changes in )Tj T* (circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and use)Tj 50.7344 0 TD (d is )Tj -50.7344 -1.1192 TD (measured by a comparison of the carrying amount of an asset to future net cash flows to be generated by the asset. If the carry)Tj 50.3994 0 TD (ing value )Tj -50.3994 -1.1192 TD (of the asset exceeds its estimated future cash flows, an impairment charge is recognized in the amount by which the carrying am)Tj 51.3184 0 TD (ount of )Tj -51.3184 -1.1191 TD (the asset exceeds the fair value of the asset. The Company)Tj /F2 1 Tf 23.2979 0 TD ()Tj /F12 1 Tf 0.333 0 TD (s adoption of this statement in the first quarter of 2002 did not have a )Tj -23.6309 -1.1192 TD (significant impact on its asset impairment policy. )Tj 0 -2.5241 TD ( In June 2002, the FASB issued SFAS No. 146, )Tj /F2 1 Tf 20.2492 0 TD ()Tj /F12 1 Tf 0.444 0 TD (Accounting for Costs Associated with Exit or Disposal Activities.)Tj /F2 1 Tf 26.3576 0 TD ()Tj /F12 1 Tf 0.444 0 TD ( SFAS No. 146 )Tj -47.4947 -1.1191 TD (nullifies Emerging Issues Task Force \(EITF\) Issue No. 94-3, )Tj /F2 1 Tf 24.5218 0 TD ()Tj /F12 1 Tf 0.444 0 TD (Liability Recognition for Certain Employee Termination Benefits and )Tj -24.9657 -1.1191 TD (Other Costs to Exit an Activity.)Tj /F2 1 Tf 12.6659 0 TD ()Tj /F12 1 Tf 0.444 0 TD ( The principal difference between this statement and EITF 94-3 relates to its requirement to recognize )Tj -13.1098 -1.1192 TD (cost when the liability is incurred and not just as a result of an entity)Tj /F2 1 Tf 27.3285 0 TD ()Tj /F12 1 Tf 0.333 0 TD (s commitment to an exit plan. SFAS No. 146 is effective for exit or )Tj -27.6615 -1.1191 TD (disposal activities initiated after December 31, 2002, with early application encouraged. The Company plans to implement this s)Tj 51.3783 0 TD (tandard )Tj -51.3783 -1.1192 TD (effective January 1, 2003, when required. )Tj /F13 1 Tf 0 -2.5955 TD -0.0001 Tc 0.0001 Tw (NOTE D )Tj /F6 1 Tf 4.0556 0 TD 0 Tc 0 Tw ()Tj /F13 1 Tf 0.9999 0 TD -0.0001 Tc 0.0001 Tw ( REVENUE RECOGNITION)Tj /F12 1 Tf -5.0555 -2.5717 TD 0 Tc 0 Tw ( Revenue is recognized on sales of products when title has transferred, and on services when performed. Revenue for the fir)Tj 50.4824 0 TD (st nine )Tj -50.4824 -1.1192 TD (months of the year from product sales and services includes reimbursement for freight charges \($23.8 million )Tj /F2 1 Tf 44.016 0 TD ()Tj /F12 1 Tf 0.5 0 TD ( 2002; $9.6 million )Tj /F2 1 Tf 7.9173 0 TD ()Tj /F12 1 Tf 0.5 0 TD ( )Tj -52.9332 -1.1191 TD (2001\) paid on behalf of customers, and cost reimbursement of $26.3 million from January 31, 2002 from a minority interest partn)Tj 51.8503 0 TD (er for )Tj -51.8503 -1.1192 TD (its contractual share of mine costs. )Tj 0 -2.5241 TD ( Royalty and management fee revenue is recognized on production. Royalties and fees paid by the Company as a partner in the)Tj 51.7633 0 TD ( mines, )Tj -51.7633 -1.1192 TD (which were previously reported in both revenues and cost of goods sold and operating expenses, have been eliminated. As a resul)Tj 51.8183 0 TD (t, third )Tj -51.8183 -1.1192 TD (quarter and first nine months 2001 revenues and cost of goods sold have been restated and reduced by $4.5 million and $8.6 mill)Tj 51.4883 0 TD (ion, )Tj -51.4883 -1.1192 TD (respectively. There was no impact on financial results. )Tj 27.5741 -2.6907 TD (7)Tj ET endstreamendobj22 0 obj<< /Type /Page /Parent 99 0 R /Resources 23 0 R /Contents 24 0 R /MediaBox [ 0 0 612 1008 ] /CropBox [ 0 0 612 1008 ] /Rotate 0 >> endobj23 0 obj<< /ProcSet [ /PDF /Text ] /Font << /F2 120 0 R /F6 119 0 R /F12 91 0 R /F13 92 0 R >> /ExtGState << /GS1 124 0 R >> >> endobj24 0 obj<< /Length 4230 >> stream 1 g /GS1 gs 1 i 18.21 989.85 575.76 -431.52 re f BT /F12 1 Tf 12 0 0 12 25.65 979.05 Tm 0 g 0 Tc 0 Tw ( )Tj /F13 1 Tf 10.079 0 0 10.079 25.65 952.41 Tm -0.0001 Tc 0.0001 Tw (NOTE E )Tj /F6 1 Tf 4.0006 0 TD 0 Tc 0 Tw ()Tj /F13 1 Tf 0.9999 0 TD -0.0001 Tc 0.0001 Tw ( ENVIRONMENTAL AND CLOSURE OBLIGATIONS)Tj /F12 1 Tf -5.0005 -2.5717 TD 0 Tc 0 Tw ( At September 30, 2002, the Company, including its share of associated iron ore ventures, had an environmental and closure )Tj 50.9324 0 TD (liability )Tj -50.9324 -1.1191 TD (of $66.7 million, of which $8.8 million was classified as current. Activity in the first nine months of 2002 included cost accr)Tj 49.7415 0 TD (uals of )Tj -49.7415 -1.1192 TD ($.7 million and expenditures of $5.5 million, of which $4.1 million represents expenditures for mine closure responsibilities a)Tj 50.2974 0 TD (ssumed in )Tj -50.2974 -1.1192 TD (the October 2001 LTV Steel Mining Company \()Tj /F2 1 Tf 19.3022 0 TD ()Tj /F12 1 Tf 0.444 0 TD -0.0001 Tc (LTVSMC)Tj /F2 1 Tf 4.0556 0 TD 0 Tc ()Tj /F12 1 Tf 0.444 0 TD (\) transaction. )Tj -24.2458 -2.524 TD ( Mine closure obligations represent $47.7 million of the total obligation, including $43.1 million for LTVSMC, which closed)Tj 51.0224 0 TD ( early in )Tj -51.0224 -1.1192 TD (2001, and $4.6 million of accrued obligations at the Company)Tj /F2 1 Tf 24.8018 0 TD ()Tj /F12 1 Tf 0.333 0 TD (s five operating mines. )Tj -25.1347 -2.524 TD ( Environmental liabilities of $19.0 million represent the balance of the total obligation. The Company)Tj /F2 1 Tf 41.6602 0 TD ()Tj /F12 1 Tf 0.333 0 TD (s obligations for known )Tj -41.9932 -1.1192 TD (environmental exposures at active and closed mining operations, and other sites have been recognized based on the estimated cos)Tj 51.7353 0 TD (t of )Tj -51.7353 -1.1192 TD (investigation and remediation at each site. If the cost can only be estimated as a range of possible amounts with no specific a)Tj 49.8485 0 TD (mount being )Tj -49.8485 -1.1192 TD (most likely, the minimum of the range is accrued in accordance with SFAS No. 5. Future expenditures are not discounted, and pot)Tj 52.0723 0 TD (ential )Tj -52.0723 -1.1192 TD (insurance recoveries have not been reflected. Additional environmental exposures could be incurred, the extent of which cannot )Tj 51.3993 0 TD (be )Tj -51.3993 -1.1192 TD (assessed. )Tj 0 -2.524 TD ( The environmental liability includes the Company)Tj /F2 1 Tf 21.3861 0 TD ()Tj /F12 1 Tf 0.333 0 TD (s obligations related to: )Tj -21.719 -2.524 TD ( )Tj /F2 1 Tf 1.6906 0 TD ()Tj /F12 1 Tf 0.5477 0 TD [( )-1416.8(Seven sites which are independent of the Company)]TJ /F2 1 Tf 22.134 0 TD ()Tj /F12 1 Tf 0.333 0 TD (s iron mining operations. These include three State and Clean Water Act )Tj -20.8001 -1.1192 TD (sites where the Company is named as a potentially responsible party, the Kipling and Deer Lake sites in Michigan, and the Rio )Tj T* (Tinto mine site in Nevada where significant site clean-up activities have taken place. Additionally, in September 2002, the )Tj T* (Company received a draft of a proposed Administrative Consent Order from the United States Environmental Protection )Tj T* (Agency for cleanup and reimbursement of costs associated with the Milwaukee Solvay Coke plant site in Milwaukee, )Tj T* (Wisconsin. This plant was last operated by a predecessor of the Company during the years 1973 to 1983, which predecessor )Tj T* (was acquired by the Company in 1986. The associated cost of removal and expense reimbursement is not expected to exceed )Tj T* ($4 million; exposure for Milwaukee Solvay was previously accrued. The extent of any liability related to other potentially )Tj T* (responsible parties has not been determined.)Tj -3.9051 -1.1192 TD ( )Tj T* ( )Tj /F2 1 Tf 1.6906 0 TD ()Tj /F12 1 Tf 0.5477 0 TD [( )-1416.8(Non-operating locations in Michigan, including ten former iron ore related sites and twelve leased land sites.)]TJ -2.2383 -1.1192 TD ( )Tj T* ( )Tj /F2 1 Tf 1.6906 0 TD ()Tj /F12 1 Tf 0.5477 0 TD [( )-1416.8(Miscellaneous remediation obligations at the Company)]TJ /F2 1 Tf 23.7468 0 TD ()Tj /F12 1 Tf 0.333 0 TD (s operating units.)Tj 1.256 -2.6907 TD (8)Tj ET endstreamendobj25 0 obj<< /Type /Page /Parent 99 0 R /Resources 26 0 R /Contents 27 0 R /MediaBox [ 0 0 612 1008 ] /CropBox [ 0 0 612 1008 ] /Rotate 0 >> endobj26 0 obj<< /ProcSet [ /PDF /Text ] /Font << /F2 120 0 R /F6 119 0 R /F12 91 0 R /F13 92 0 R >> /ExtGState << /GS1 124 0 R >> >> endobj27 0 obj<< /Length 35471 >> stream 1 g /GS1 gs 1 i 18.21 989.85 575.76 -624.48 re f BT /F12 1 Tf 12 0 0 12 25.65 979.05 Tm 0 g 0 Tc 0 Tw ( )Tj /F13 1 Tf 10.079 0 0 10.079 25.65 952.41 Tm -0.0001 Tc 0.0001 Tw (NOTE F )Tj /F6 1 Tf 3.9446 0 TD 0 Tc 0 Tw ()Tj /F13 1 Tf 0.9999 0 TD -0.0001 Tc 0.0001 Tw ( SEGMENT REPORTING)Tj /F12 1 Tf -4.9446 -2.5717 TD 0 Tc 0 Tw ( The Company has two reportable segments offering different iron products and services to the steel industry. Iron Ore is t)Tj 49.9035 0 TD (he )Tj -49.9035 -1.1191 TD (Company)Tj /F2 1 Tf 3.8886 0 TD ()Tj /F12 1 Tf 0.333 0 TD (s dominant segment. The Ferrous Metallics segment consists of the hot briquetted iron \()Tj /F2 1 Tf 35.1608 0 TD ()Tj /F12 1 Tf 0.444 0 TD -0.0001 Tc (HBI)Tj /F2 1 Tf 1.7218 0 TD 0 Tc ()Tj /F12 1 Tf 0.444 0 TD (\) project in Trinidad and Tobago )Tj -41.9922 -1.1192 TD (and other development activities. )Tj /F2 1 Tf 13.5248 0 TD ()Tj /F12 1 Tf 0.444 0 TD (Other)Tj /F2 1 Tf 2.2768 0 TD ()Tj /F12 1 Tf 0.444 0 TD ( includes non-reportable segments, and unallocated corporate administrative expense and other )Tj -16.6895 -1.1192 TD (income and expense. )Tj 12 0 0 12 39.57 879.6901 Tm 0.53 Tc [( )-20880( )360( )-1120( )500( )60( )-1400( )-1400( )360( )-980( )100( )-20( )-720( )-1400( )]TJ 7.439 0 0 7.439 39.57 869.61 Tm 1.0082 Tc ( )Tj 36.1982 0 TD [( )580.7( )-1806.7( )806.5( )96.8( )-2258.4( )]TJ /F13 1 Tf 14.2276 0.0323 TD 0 Tc (\(In Millions\))Tj /F12 1 Tf 5.7104 -0.0323 TD 1.0082 Tc [( )580.7( )-1580.9( )161.3( )-32.3( )-1161.5( )-2258.4( )]TJ -56.1363 -1.1292 TD ( )Tj 36.1982 0 TD 0 Tc ( )Tj ET 0.5 g 318.21 861.93 254.16 -0.48 re f BT 7.439 0 0 7.439 39.57 852.09 Tm 0 g 1.0082 Tc ( )Tj 36.1982 0 TD 0 Tc ( )Tj /F13 1 Tf 2.3874 0.0323 TD (Iron)Tj /F12 1 Tf 3.0649 -0.0323 TD ( )Tj /F13 1 Tf 2.4519 0.0323 TD (Ferrous)Tj /F12 1 Tf 4.7425 -0.0323 TD ( )Tj /F13 1 Tf 2.2261 0.0323 TD (Segments)Tj /F12 1 Tf 5.0652 -0.0323 TD 1.0082 Tc [( )580.7( )-1580.9( )161.3( )]TJ /F13 1 Tf 8.5172 0.0323 TD 0 Tc (Consolidated)Tj /F12 1 Tf -64.6535 -1.2582 TD 1.0082 Tc ( )Tj 36.1982 0 TD 0 Tc ( )Tj /F13 1 Tf 2.5165 0.0323 TD 0.0001 Tc (Ore)Tj /F12 1 Tf 2.9359 -0.0323 TD 0 Tc ( )Tj /F13 1 Tf 2.1938 0.0323 TD (Metallics)Tj /F12 1 Tf 5.0006 -0.0323 TD ( )Tj /F13 1 Tf 3.0972 0.0323 TD (Total)Tj /F12 1 Tf 4.1941 -0.0323 TD ( )Tj /F13 1 Tf 2.2906 0.0323 TD (Other)Tj /F12 1 Tf 3.5811 -0.0323 TD ( )Tj /F13 1 Tf 4.2909 0.0323 TD (Total)Tj /F12 1 Tf -66.2989 -1.1614 TD 1.0082 Tc ( )Tj 36.1982 0 TD 0 Tc ( )Tj ET 0.5 g 318.21 835.29 30.96 -0.48 re f BT 7.439 0 0 7.439 349.41 834.5701 Tm 0 g ( )Tj ET 0.5 g 358.05 835.29 44.64 -0.48 re f BT 7.439 0 0 7.439 402.93 834.5701 Tm 0 g ( )Tj ET 0.5 g 412.29 835.29 44.64 -0.48 re f BT 7.439 0 0 7.439 457.17 834.5701 Tm 0 g ( )Tj ET 0.5 g 466.53 835.29 34.08 -0.48 re f BT 7.439 0 0 7.439 500.85 834.5701 Tm 0 g ( )Tj ET 0.5 g 510.45 835.29 61.92 -0.48 re f BT 10.079 0 0 10.079 39.57 823.77 Tm 0 g (Third Quarter 2002)Tj ET 0 G 0 J 0 j 0.24 w 10 M []0 d 39.57 822.81 m 118.53 822.81 l S BT 10.079 0 0 10.079 308.85 823.77 Tm 0.6787 Tc [( )428.7( )-1333.4( )595.3( )71.5( )-1666.8( )-1666.8( )428.7( )-1166.7( )119.1( )-23.8( )-857.2( )-1666.8( )]TJ ET 0.934 g 39.57 821.61 269.04 -11.04 re f BT 10.079 0 0 10.079 39.57 812.4901 Tm 0 g 0 Tc (Sales and services to external customers)Tj ET 0.934 g 308.85 821.61 9.12 -11.04 re f BT 10.079 0 0 10.079 308.85 812.4901 Tm 0 g ( )Tj ET 0.934 g 318.21 821.61 4.8 -11.04 re f BT 10.079 0 0 10.079 318.21 812.4901 Tm 0 g ($)Tj ET 0.934 g 323.25 821.61 22.56 -11.04 re f BT 10.079 0 0 10.079 323.25 812.4901 Tm 0 g (197.1)Tj ET 0.934 g 346.05 821.61 3.12 -11.04 re f BT 10.079 0 0 10.079 346.05 812.4901 Tm 0 g ( )Tj ET 0.934 g 349.41 821.61 8.4 -11.04 re f BT 10.079 0 0 10.079 349.41 812.4901 Tm 0 g ( )Tj ET 0.934 g 358.05 821.61 9.12 -11.04 re f BT 10.079 0 0 10.079 362.37 812.4901 Tm 0 g ($)Tj ET 0.934 g 367.41 821.61 25.92 -11.04 re f BT 10.079 0 0 10.079 367.41 812.4901 Tm 0 g ( )Tj ET 0.934 g 393.57 821.61 9.12 -11.04 re f BT 10.079 0 0 10.079 393.57 812.4901 Tm 0 g ( )Tj ET 0.934 g 402.93 821.61 9.12 -11.04 re f BT 10.079 0 0 10.079 402.93 812.4901 Tm 0 g ( )Tj ET 0.934 g 412.29 821.61 9.12 -11.04 re f BT 10.079 0 0 10.079 416.61 812.4901 Tm 0 g ($)Tj ET 0.934 g 421.65 821.61 25.92 -11.04 re f BT 10.079 0 0 10.079 425.01 812.4901 Tm 0 g (197.1)Tj ET 0.934 g 447.81 821.61 9.12 -11.04 re f BT 10.079 0 0 10.079 447.81 812.4901 Tm 0 g ( )Tj ET 0.934 g 457.17 821.61 9.12 -11.04 re f BT 10.079 0 0 10.079 457.17 812.4901 Tm 0 g ( )Tj ET 0.934 g 466.53 821.61 4.8 -11.04 re f BT 10.079 0 0 10.079 466.53 812.4901 Tm 0 g ($)Tj ET 0.934 g 471.57 821.61 20.88 -11.04 re f BT 10.079 0 0 10.079 471.57 812.4901 Tm 0 g ( )Tj ET 0.934 g 492.69 821.61 7.92 -11.04 re f BT 10.079 0 0 10.079 492.69 812.4901 Tm 0 g ( )Tj ET 0.934 g 500.85 821.61 9.36 -11.04 re f BT 10.079 0 0 10.079 500.85 812.4901 Tm 0 g ( )Tj ET 0.934 g 510.45 821.61 17.76 -11.04 re f BT 10.079 0 0 10.079 523.4099 812.4901 Tm 0 g ($)Tj ET 0.934 g 528.45 821.61 25.92 -11.04 re f BT 10.079 0 0 10.079 531.8099 812.4901 Tm 0 g (197.1)Tj ET 0.934 g 554.61 821.61 17.76 -11.04 re f BT 10.079 0 0 10.079 554.61 812.4901 Tm 0 g ( )Tj -51.1001 -1.2144 TD 0.6787 Tw [(Royalties )678.7(and )678.7(management )678.7(fees)-14025.9( )-571.4(3.4)-12.1( )595.3( )71.5( )-1666.8( )-1333.4(3.4)-12.1( )428.7( )-1166.7( )119.1( )-23.8( )-2190.6(3.4)-12.1( )]TJ 0 -1.1191 TD 26.4668 Tc 0 Tw [( )25788.1( )]TJ ET 0.5 g 323.25 792.81 22.56 -0.48 re f BT 10.079 0 0 10.079 346.05 788.97 Tm 0 g 0.0834 Tc [( )-523.8( )]TJ ET 0.5 g 367.41 792.81 25.92 -0.48 re f BT 10.079 0 0 10.079 393.57 788.97 Tm 0 g 0.6787 Tc ( )Tj ET 0.5 g 421.65 792.81 25.92 -0.48 re f BT 10.079 0 0 10.079 447.81 788.97 Tm 0 g ( )Tj ET 0.5 g 471.57 792.81 20.88 -0.48 re f BT 10.079 0 0 10.079 492.69 788.97 Tm 0 g 0.5596 Tc [( )-142.9( )]TJ ET 0.5 g 528.45 792.81 25.92 -0.48 re f BT 10.079 0 0 10.079 554.61 788.97 Tm 0 g 0 Tc ( )Tj ET 0.934 g 39.57 786.81 9.12 -11.04 re f BT 10.079 0 0 10.079 39.57 777.6901 Tm 0 g ( )Tj ET 0.934 g 48.93 786.81 259.68 -11.04 re f BT 10.079 0 0 10.079 48.93 777.6901 Tm 0 g (Total operating revenues)Tj ET 0.934 g 308.85 786.81 9.12 -11.04 re f BT 10.079 0 0 10.079 308.85 777.6901 Tm 0 g ( )Tj ET 0.934 g 318.21 786.81 4.8 -11.04 re f BT 10.079 0 0 10.079 318.21 777.6901 Tm 0 g ( )Tj ET 0.934 g 323.25 786.81 22.56 -11.04 re f BT 10.079 0 0 10.079 323.25 777.6901 Tm 0 g (200.5)Tj ET 0.934 g 346.05 786.81 3.12 -11.04 re f BT 10.079 0 0 10.079 346.05 777.6901 Tm 0 g ( )Tj ET 0.934 g 349.41 786.81 8.4 -11.04 re f BT 10.079 0 0 10.079 349.41 777.6901 Tm 0 g ( )Tj ET 0.934 g 358.05 786.81 9.12 -11.04 re f BT 10.079 0 0 10.079 358.05 777.6901 Tm 0 g ( )Tj ET 0.934 g 367.41 786.81 25.92 -11.04 re f BT 10.079 0 0 10.079 367.41 777.6901 Tm 0 g ( )Tj ET 0.934 g 393.57 786.81 9.12 -11.04 re f BT 10.079 0 0 10.079 393.57 777.6901 Tm 0 g ( )Tj ET 0.934 g 402.93 786.81 9.12 -11.04 re f BT 10.079 0 0 10.079 402.93 777.6901 Tm 0 g ( )Tj ET 0.934 g 412.29 786.81 9.12 -11.04 re f BT 10.079 0 0 10.079 412.29 777.6901 Tm 0 g ( )Tj ET 0.934 g 421.65 786.81 25.92 -11.04 re f BT 10.079 0 0 10.079 425.01 777.6901 Tm 0 g (200.5)Tj ET 0.934 g 447.81 786.81 9.12 -11.04 re f BT 10.079 0 0 10.079 447.81 777.6901 Tm 0 g ( )Tj ET 0.934 g 457.17 786.81 9.12 -11.04 re f BT 10.079 0 0 10.079 457.17 777.6901 Tm 0 g ( )Tj ET 0.934 g 466.53 786.81 4.8 -11.04 re f BT 10.079 0 0 10.079 466.53 777.6901 Tm 0 g ( )Tj ET 0.934 g 471.57 786.81 20.88 -11.04 re f BT 10.079 0 0 10.079 471.57 777.6901 Tm 0 g ( )Tj ET 0.934 g 492.69 786.81 7.92 -11.04 re f BT 10.079 0 0 10.079 492.69 777.6901 Tm 0 g ( )Tj ET 0.934 g 500.85 786.81 9.36 -11.04 re f BT 10.079 0 0 10.079 500.85 777.6901 Tm 0 g ( )Tj ET 0.934 g 510.45 786.81 17.76 -11.04 re f BT 10.079 0 0 10.079 510.45 777.6901 Tm 0 g ( )Tj ET 0.934 g 528.45 786.81 25.92 -11.04 re f BT 10.079 0 0 10.079 531.8099 777.6901 Tm 0 g (200.5)Tj ET 0.934 g 554.61 786.81 17.76 -11.04 re f BT 10.079 0 0 10.079 554.61 777.6901 Tm 0 g ( )Tj -51.1001 -1.1192 TD 26.4668 Tc [( )25788.1( )]TJ ET 0.5 g 323.25 771.45 22.56 -2.88 re f BT 10.079 0 0 10.079 346.05 766.41 Tm 0 g 0.0834 Tc [( )-523.8( )]TJ ET 0.5 g 367.41 771.45 25.92 -2.88 re f BT 10.079 0 0 10.079 393.57 766.41 Tm 0 g 0.6787 Tc ( )Tj ET 0.5 g 421.65 771.45 25.92 -2.88 re f BT 10.079 0 0 10.079 447.81 766.41 Tm 0 g ( )Tj ET 0.5 g 471.57 771.45 20.88 -2.88 re f BT 10.079 0 0 10.079 492.69 766.41 Tm 0 g 0.5596 Tc [( )-142.9( )]TJ ET 0.5 g 528.45 771.45 25.92 -2.88 re f BT 10.079 0 0 10.079 554.61 766.41 Tm 0 g 0 Tc ( )Tj -51.1001 -1.1192 TD [(Income \(loss\) before income taxes and minority interest)-4361.8( )-678.7( )-750.1(10.0)-12.2( )-83.4( )-1274( )-11.9(\(125.2)-12.7(\))-595.7( )-1345.4( )-11.9(\(115.2)-12.7(\))-595.7( )-916.8( )-512(\(1.6)-12.5(\))-476.6( )-2226.4( )-11.9(\(116.8)-12.7(\))]TJ ET 0.934 g 39.57 752.01 269.04 -11.04 re f BT 10.079 0 0 10.079 39.57 742.8901 Tm 0 g (Investments in associated iron ore ventures)Tj ET 0.934 g 308.85 752.01 9.12 -11.04 re f BT 10.079 0 0 10.079 308.85 742.8901 Tm 0 g ( )Tj ET 0.934 g 318.21 752.01 4.8 -11.04 re f BT 10.079 0 0 10.079 318.21 742.8901 Tm 0 g ( )Tj ET 0.934 g 323.25 752.01 22.56 -11.04 re f BT 10.079 0 0 10.079 328.29 742.8901 Tm 0 g (14.1)Tj ET 0.934 g 346.05 752.01 3.12 -11.04 re f BT 10.079 0 0 10.079 346.05 742.8901 Tm 0 g ( )Tj ET 0.934 g 349.41 752.01 8.4 -11.04 re f BT 10.079 0 0 10.079 349.41 742.8901 Tm 0 g ( )Tj ET 0.934 g 358.05 752.01 9.12 -11.04 re f BT 10.079 0 0 10.079 358.05 742.8901 Tm 0 g ( )Tj ET 0.934 g 367.41 752.01 25.92 -11.04 re f BT 10.079 0 0 10.079 367.41 742.8901 Tm 0 g ( )Tj ET 0.934 g 393.57 752.01 9.12 -11.04 re f BT 10.079 0 0 10.079 393.57 742.8901 Tm 0 g ( )Tj ET 0.934 g 402.93 752.01 9.12 -11.04 re f BT 10.079 0 0 10.079 402.93 742.8901 Tm 0 g ( )Tj ET 0.934 g 412.29 752.01 9.12 -11.04 re f BT 10.079 0 0 10.079 412.29 742.8901 Tm 0 g ( )Tj ET 0.934 g 421.65 752.01 25.92 -11.04 re f BT 10.079 0 0 10.079 430.05 742.8901 Tm 0 g (14.1)Tj ET 0.934 g 447.81 752.01 9.12 -11.04 re f BT 10.079 0 0 10.079 447.81 742.8901 Tm 0 g ( )Tj ET 0.934 g 457.17 752.01 9.12 -11.04 re f BT 10.079 0 0 10.079 457.17 742.8901 Tm 0 g ( )Tj ET 0.934 g 466.53 752.01 4.8 -11.04 re f BT 10.079 0 0 10.079 466.53 742.8901 Tm 0 g ( )Tj ET 0.934 g 471.57 752.01 20.88 -11.04 re f BT 10.079 0 0 10.079 471.57 742.8901 Tm 0 g ( )Tj ET 0.934 g 492.69 752.01 7.92 -11.04 re f BT 10.079 0 0 10.079 492.69 742.8901 Tm 0 g ( )Tj ET 0.934 g 500.85 752.01 9.36 -11.04 re f BT 10.079 0 0 10.079 500.85 742.8901 Tm 0 g ( )Tj ET 0.934 g 510.45 752.01 17.76 -11.04 re f BT 10.079 0 0 10.079 510.45 742.8901 Tm 0 g ( )Tj ET 0.934 g 528.45 752.01 25.92 -11.04 re f BT 10.079 0 0 10.079 536.85 742.8901 Tm 0 g (14.1)Tj ET 0.934 g 554.61 752.01 17.76 -11.04 re f BT 10.079 0 0 10.079 554.61 742.8901 Tm 0 g ( )Tj -51.1001 -1.2144 TD 0.6787 Tw [(Other )678.7(identifiable )678.7(assets)-17052.7( )428.7(756.0)-12.3( )595.3( )71.5( )-833.4(12.6)-12.2( )-333.3(768.6)-12.3( )95.3(10.2)-12.2( )119.1( )-23.8( )-1190.5(778.8)-12.3( )]TJ 0 -1.1192 TD 26.4668 Tc 0 Tw [( )25788.1( )]TJ ET 0.5 g 323.25 723.21 22.56 -0.48 re f BT 10.079 0 0 10.079 346.05 719.3701 Tm 0 g 0.0834 Tc [( )-523.8( )]TJ ET 0.5 g 367.41 723.21 25.92 -0.48 re f BT 10.079 0 0 10.079 393.57 719.3701 Tm 0 g 0.6787 Tc ( )Tj ET 0.5 g 421.65 723.21 25.92 -0.48 re f BT 10.079 0 0 10.079 447.81 719.3701 Tm 0 g ( )Tj ET 0.5 g 471.57 723.21 20.88 -0.48 re f BT 10.079 0 0 10.079 492.69 719.3701 Tm 0 g 0.5596 Tc [( )-142.9( )]TJ ET 0.5 g 528.45 723.21 25.92 -0.48 re f BT 10.079 0 0 10.079 554.61 719.3701 Tm 0 g 0 Tc ( )Tj ET 0.934 g 39.57 717.21 9.12 -11.04 re f BT 10.079 0 0 10.079 39.57 708.0901 Tm 0 g ( )Tj ET 0.934 g 48.93 717.21 259.68 -11.04 re f BT 10.079 0 0 10.079 48.93 708.0901 Tm 0 g (Total assets)Tj ET 0.934 g 308.85 717.21 9.12 -11.04 re f BT 10.079 0 0 10.079 308.85 708.0901 Tm 0 g ( )Tj ET 0.934 g 318.21 717.21 4.8 -11.04 re f BT 10.079 0 0 10.079 318.21 708.0901 Tm 0 g ( )Tj ET 0.934 g 323.25 717.21 22.56 -11.04 re f BT 10.079 0 0 10.079 323.25 708.0901 Tm 0 g (770.1)Tj ET 0.934 g 346.05 717.21 3.12 -11.04 re f BT 10.079 0 0 10.079 346.05 708.0901 Tm 0 g ( )Tj ET 0.934 g 349.41 717.21 8.4 -11.04 re f BT 10.079 0 0 10.079 349.41 708.0901 Tm 0 g ( )Tj ET 0.934 g 358.05 717.21 9.12 -11.04 re f BT 10.079 0 0 10.079 358.05 708.0901 Tm 0 g ( )Tj ET 0.934 g 367.41 717.21 25.92 -11.04 re f BT 10.079 0 0 10.079 375.81 708.0901 Tm 0 g (12.6)Tj ET 0.934 g 393.57 717.21 9.12 -11.04 re f BT 10.079 0 0 10.079 393.57 708.0901 Tm 0 g ( )Tj ET 0.934 g 402.93 717.21 9.12 -11.04 re f BT 10.079 0 0 10.079 402.93 708.0901 Tm 0 g ( )Tj ET 0.934 g 412.29 717.21 9.12 -11.04 re f BT 10.079 0 0 10.079 412.29 708.0901 Tm 0 g ( )Tj ET 0.934 g 421.65 717.21 25.92 -11.04 re f BT 10.079 0 0 10.079 425.01 708.0901 Tm 0 g (782.7)Tj ET 0.934 g 447.81 717.21 9.12 -11.04 re f BT 10.079 0 0 10.079 447.81 708.0901 Tm 0 g ( )Tj ET 0.934 g 457.17 717.21 9.12 -11.04 re f BT 10.079 0 0 10.079 457.17 708.0901 Tm 0 g ( )Tj ET 0.934 g 466.53 717.21 4.8 -11.04 re f BT 10.079 0 0 10.079 466.53 708.0901 Tm 0 g ( )Tj ET 0.934 g 471.57 717.21 20.88 -11.04 re f BT 10.079 0 0 10.079 474.93 708.0901 Tm 0 g (10.2)Tj ET 0.934 g 492.69 717.21 7.92 -11.04 re f BT 10.079 0 0 10.079 492.69 708.0901 Tm 0 g ( )Tj ET 0.934 g 500.85 717.21 9.36 -11.04 re f BT 10.079 0 0 10.079 500.85 708.0901 Tm 0 g ( )Tj ET 0.934 g 510.45 717.21 17.76 -11.04 re f BT 10.079 0 0 10.079 510.45 708.0901 Tm 0 g ( )Tj ET 0.934 g 528.45 717.21 25.92 -11.04 re f BT 10.079 0 0 10.079 531.8099 708.0901 Tm 0 g (792.9)Tj ET 0.934 g 554.61 717.21 17.76 -11.04 re f BT 10.079 0 0 10.079 554.61 708.0901 Tm 0 g ( )Tj -51.1001 -1.1192 TD 26.4668 Tc [( )25788.1( )]TJ ET 0.5 g 323.25 701.85 22.56 -2.88 re f BT 10.079 0 0 10.079 346.05 696.8101 Tm 0 g 0.0834 Tc [( )-523.8( )]TJ ET 0.5 g 367.41 701.85 25.92 -2.88 re f BT 10.079 0 0 10.079 393.57 696.8101 Tm 0 g 0.6787 Tc ( )Tj ET 0.5 g 421.65 701.85 25.92 -2.88 re f BT 10.079 0 0 10.079 447.81 696.8101 Tm 0 g ( )Tj ET 0.5 g 471.57 701.85 20.88 -2.88 re f BT 10.079 0 0 10.079 492.69 696.8101 Tm 0 g 0.5596 Tc [( )-142.9( )]TJ ET 0.5 g 528.45 701.85 25.92 -2.88 re f BT 10.079 0 0 10.079 554.61 696.8101 Tm 0 g 0 Tc ( )Tj -51.1001 -1.1192 TD (Third Quarter 2001)Tj ET 39.57 684.57 m 118.53 684.57 l S BT 10.079 0 0 10.079 308.85 685.53 Tm 0.6787 Tc [( )428.7( )-1333.4( )595.3( )71.5( )-1666.8( )-1666.8( )428.7( )-1166.7( )119.1( )-23.8( )-857.2( )-1666.8( )]TJ -26.7168 -1.1191 TD 0 Tc [(Sales and services to external customers)-10638.3( )-678.7($109.1)-12.3( )-83.4( )-1035.8($)-1333.5(4.9)-12.1( )-678.7( )-1107.3($)-333.4(114.0)-12.3( )-678.7( )-678.7($ )-1845.4( )-559.6( )-1988.3($)-333.4(114.0)-12.3( )]TJ ET 0.934 g 39.57 671.13 269.04 -11.04 re f BT 10.079 0 0 10.079 39.57 662.0101 Tm 0 g (Royalties and management fees)Tj ET 0.934 g 308.85 671.13 9.12 -11.04 re f BT 10.079 0 0 10.079 308.85 662.0101 Tm 0 g ( )Tj ET 0.934 g 318.21 671.13 4.8 -11.04 re f BT 10.079 0 0 10.079 318.21 662.0101 Tm 0 g ( )Tj ET 0.934 g 323.25 671.13 22.56 -11.04 re f BT 10.079 0 0 10.079 333.33 662.0101 Tm 0 g (7.7)Tj ET 0.934 g 346.05 671.13 3.12 -11.04 re f BT 10.079 0 0 10.079 346.05 662.0101 Tm 0 g ( )Tj ET 0.934 g 349.41 671.13 8.4 -11.04 re f BT 10.079 0 0 10.079 349.41 662.0101 Tm 0 g ( )Tj ET 0.934 g 358.05 671.13 9.12 -11.04 re f BT 10.079 0 0 10.079 358.05 662.0101 Tm 0 g ( )Tj ET 0.934 g 367.41 671.13 25.92 -11.04 re f BT 10.079 0 0 10.079 367.41 662.0101 Tm 0 g ( )Tj ET 0.934 g 393.57 671.13 9.12 -11.04 re f BT 10.079 0 0 10.079 393.57 662.0101 Tm 0 g ( )Tj ET 0.934 g 402.93 671.13 9.12 -11.04 re f BT 10.079 0 0 10.079 402.93 662.0101 Tm 0 g ( )Tj ET 0.934 g 412.29 671.13 9.12 -11.04 re f BT 10.079 0 0 10.079 412.29 662.0101 Tm 0 g ( )Tj ET 0.934 g 421.65 671.13 25.92 -11.04 re f BT 10.079 0 0 10.079 435.09 662.0101 Tm 0 g (7.7)Tj ET 0.934 g 447.81 671.13 9.12 -11.04 re f BT 10.079 0 0 10.079 447.81 662.0101 Tm 0 g ( )Tj ET 0.934 g 457.17 671.13 9.12 -11.04 re f BT 10.079 0 0 10.079 457.17 662.0101 Tm 0 g ( )Tj ET 0.934 g 466.53 671.13 4.8 -11.04 re f BT 10.079 0 0 10.079 466.53 662.0101 Tm 0 g ( )Tj ET 0.934 g 471.57 671.13 20.88 -11.04 re f BT 10.079 0 0 10.079 471.57 662.0101 Tm 0 g ( )Tj ET 0.934 g 492.69 671.13 7.92 -11.04 re f BT 10.079 0 0 10.079 492.69 662.0101 Tm 0 g ( )Tj ET 0.934 g 500.85 671.13 9.36 -11.04 re f BT 10.079 0 0 10.079 500.85 662.0101 Tm 0 g ( )Tj ET 0.934 g 510.45 671.13 17.76 -11.04 re f BT 10.079 0 0 10.079 510.45 662.0101 Tm 0 g ( )Tj ET 0.934 g 528.45 671.13 25.92 -11.04 re f BT 10.079 0 0 10.079 541.89 662.0101 Tm 0 g (7.7)Tj ET 0.934 g 554.61 671.13 17.76 -11.04 re f BT 10.079 0 0 10.079 554.61 662.0101 Tm 0 g ( )Tj -51.1001 -1.1192 TD 26.4668 Tc [( )25788.1( )]TJ ET 0.5 g 323.25 654.57 22.56 -0.48 re f BT 10.079 0 0 10.079 346.05 650.73 Tm 0 g 0.0834 Tc [( )-523.8( )]TJ ET 0.5 g 367.41 654.57 25.92 -0.48 re f BT 10.079 0 0 10.079 393.57 650.73 Tm 0 g 0.6787 Tc ( )Tj ET 0.5 g 421.65 654.57 25.92 -0.48 re f BT 10.079 0 0 10.079 447.81 650.73 Tm 0 g ( )Tj ET 0.5 g 471.57 654.57 20.88 -0.48 re f BT 10.079 0 0 10.079 492.69 650.73 Tm 0 g 0.5596 Tc [( )-142.9( )]TJ ET 0.5 g 528.45 654.57 25.92 -0.48 re f BT 10.079 0 0 10.079 554.61 650.73 Tm 0 g 0 Tc ( )Tj -51.1001 -1.1192 TD 0.6787 Tw [( Total )678.7(operating )678.7(revenues)-15847( )428.7(116.8)-12.3( )595.3( )71.5( )-1333.4(4.9)-12.1( )-333.3(121.7)-12.3( )428.7( )-1166.7( )119.1( )-23.8( )-1190.5(121.7)-12.3( )]TJ T* 26.4668 Tc 0 Tw [( )25788.1( )]TJ ET 0.5 g 323.25 633.21 22.56 -2.88 re f BT 10.079 0 0 10.079 346.05 628.17 Tm 0 g 0.0834 Tc [( )-523.8( )]TJ ET 0.5 g 367.41 633.21 25.92 -2.88 re f BT 10.079 0 0 10.079 393.57 628.17 Tm 0 g 0.6787 Tc ( )Tj ET 0.5 g 421.65 633.21 25.92 -2.88 re f BT 10.079 0 0 10.079 447.81 628.17 Tm 0 g ( )Tj ET 0.5 g 471.57 633.21 20.88 -2.88 re f BT 10.079 0 0 10.079 492.69 628.17 Tm 0 g 0.5596 Tc [( )-142.9( )]TJ ET 0.5 g 528.45 633.21 25.92 -2.88 re f BT 10.079 0 0 10.079 554.61 628.17 Tm 0 g 0 Tc ( )Tj ET 0.934 g 39.57 626.01 269.04 -11.04 re f BT 10.079 0 0 10.079 39.57 616.8901 Tm 0 g (Income \(loss\) before income taxes and minority interest)Tj ET 0.934 g 308.85 626.01 9.12 -11.04 re f BT 10.079 0 0 10.079 308.85 616.8901 Tm 0 g ( )Tj ET 0.934 g 318.21 626.01 4.8 -11.04 re f BT 10.079 0 0 10.079 318.21 616.8901 Tm 0 g ( )Tj ET 0.934 g 323.25 626.01 22.56 -11.04 re f BT 10.079 0 0 10.079 333.33 616.8901 Tm 0 g (7.1)Tj ET 0.934 g 346.05 626.01 3.12 -11.04 re f BT 10.079 0 0 10.079 346.05 616.8901 Tm 0 g ( )Tj ET 0.934 g 349.41 626.01 8.4 -11.04 re f BT 10.079 0 0 10.079 349.41 616.8901 Tm 0 g ( )Tj ET 0.934 g 358.05 626.01 9.12 -11.04 re f BT 10.079 0 0 10.079 364.77 616.8901 Tm 0 g ( )Tj ET 0.934 g 367.41 626.01 25.92 -11.04 re f BT 10.079 0 0 10.079 377.49 616.8901 Tm 0 g (\(5.9)Tj ET 0.934 g 393.57 626.01 9.12 -11.04 re f BT 10.079 0 0 10.079 393.57 616.8901 Tm 0 g (\))Tj ET 0.934 g 402.93 626.01 9.12 -11.04 re f BT 10.079 0 0 10.079 402.93 616.8901 Tm 0 g ( )Tj ET 0.934 g 412.29 626.01 9.12 -11.04 re f BT 10.079 0 0 10.079 412.29 616.8901 Tm 0 g ( )Tj ET 0.934 g 421.65 626.01 25.92 -11.04 re f BT 10.079 0 0 10.079 435.09 616.8901 Tm 0 g (1.2)Tj ET 0.934 g 447.81 626.01 9.12 -11.04 re f BT 10.079 0 0 10.079 447.81 616.8901 Tm 0 g ( )Tj ET 0.934 g 457.17 626.01 9.12 -11.04 re f BT 10.079 0 0 10.079 457.17 616.8901 Tm 0 g ( )Tj ET 0.934 g 466.53 626.01 4.8 -11.04 re f BT 10.079 0 0 10.079 468.93 616.8901 Tm 0 g ( )Tj ET 0.934 g 471.57 626.01 20.88 -11.04 re f BT 10.079 0 0 10.079 476.61 616.8901 Tm 0 g (\(5.2)Tj ET 0.934 g 492.69 626.01 7.92 -11.04 re f BT 10.079 0 0 10.079 492.69 616.8901 Tm 0 g (\))Tj ET 0.934 g 500.85 626.01 9.36 -11.04 re f BT 10.079 0 0 10.079 500.85 616.8901 Tm 0 g ( )Tj ET 0.934 g 510.45 626.01 17.76 -11.04 re f BT 10.079 0 0 10.079 525.8099 616.8901 Tm 0 g ( )Tj ET 0.934 g 528.45 626.01 25.92 -11.04 re f BT 10.079 0 0 10.079 538.53 616.8901 Tm 0 g (\(4.0)Tj ET 0.934 g 554.61 626.01 17.76 -11.04 re f BT 10.079 0 0 10.079 554.61 616.8901 Tm 0 g (\))Tj -51.1001 -1.2144 TD 0.6787 Tw [(Investments )678.7(in )678.7(associated )678.7(iron )678.7(ore )678.7(ventures)-9471.4( )428.7(134.9)-12.3( )595.3( )71.5( )-1666.8( )-333.3(134.9)-12.3( )428.7( )-1166.7( )119.1( )-23.8( )-1190.5(134.9)-12.3( )]TJ ET 0.934 g 39.57 601.53 269.04 -11.04 re f BT 10.079 0 0 10.079 39.57 592.41 Tm 0 g 0 Tw (Other identifiable assets)Tj ET 0.934 g 308.85 601.53 9.12 -11.04 re f BT 10.079 0 0 10.079 308.85 592.41 Tm 0 g ( )Tj ET 0.934 g 318.21 601.53 4.8 -11.04 re f BT 10.079 0 0 10.079 318.21 592.41 Tm 0 g ( )Tj ET 0.934 g 323.25 601.53 22.56 -11.04 re f BT 10.079 0 0 10.079 323.25 592.41 Tm 0 g (491.9)Tj ET 0.934 g 346.05 601.53 3.12 -11.04 re f BT 10.079 0 0 10.079 346.05 592.41 Tm 0 g ( )Tj ET 0.934 g 349.41 601.53 8.4 -11.04 re f BT 10.079 0 0 10.079 349.41 592.41 Tm 0 g ( )Tj ET 0.934 g 358.05 601.53 9.12 -11.04 re f BT 10.079 0 0 10.079 358.05 592.41 Tm 0 g ( )Tj ET 0.934 g 367.41 601.53 25.92 -11.04 re f BT 10.079 0 0 10.079 370.77 592.41 Tm 0 g (136.5)Tj ET 0.934 g 393.57 601.53 9.12 -11.04 re f BT 10.079 0 0 10.079 393.57 592.41 Tm 0 g ( )Tj ET 0.934 g 402.93 601.53 9.12 -11.04 re f BT 10.079 0 0 10.079 402.93 592.41 Tm 0 g ( )Tj ET 0.934 g 412.29 601.53 9.12 -11.04 re f BT 10.079 0 0 10.079 412.29 592.41 Tm 0 g ( )Tj ET 0.934 g 421.65 601.53 25.92 -11.04 re f BT 10.079 0 0 10.079 425.01 592.41 Tm 0 g (628.4)Tj ET 0.934 g 447.81 601.53 9.12 -11.04 re f BT 10.079 0 0 10.079 447.81 592.41 Tm 0 g ( )Tj ET 0.934 g 457.17 601.53 9.12 -11.04 re f BT 10.079 0 0 10.079 457.17 592.41 Tm 0 g ( )Tj ET 0.934 g 466.53 601.53 4.8 -11.04 re f BT 10.079 0 0 10.079 466.53 592.41 Tm 0 g ( )Tj ET 0.934 g 471.57 601.53 20.88 -11.04 re f BT 10.079 0 0 10.079 474.93 592.41 Tm 0 g (32.0)Tj ET 0.934 g 492.69 601.53 7.92 -11.04 re f BT 10.079 0 0 10.079 492.69 592.41 Tm 0 g ( )Tj ET 0.934 g 500.85 601.53 9.36 -11.04 re f BT 10.079 0 0 10.079 500.85 592.41 Tm 0 g ( )Tj ET 0.934 g 510.45 601.53 17.76 -11.04 re f BT 10.079 0 0 10.079 510.45 592.41 Tm 0 g ( )Tj ET 0.934 g 528.45 601.53 25.92 -11.04 re f BT 10.079 0 0 10.079 531.8099 592.41 Tm 0 g (660.4)Tj ET 0.934 g 554.61 601.53 17.76 -11.04 re f BT 10.079 0 0 10.079 554.61 592.41 Tm 0 g ( )Tj -51.1001 -1.1192 TD 26.4668 Tc [( )25788.1( )]TJ ET 0.5 g 323.25 584.97 22.56 -0.48 re f BT 10.079 0 0 10.079 346.05 581.1301 Tm 0 g 0.0834 Tc [( )-523.8( )]TJ ET 0.5 g 367.41 584.97 25.92 -0.48 re f BT 10.079 0 0 10.079 393.57 581.1301 Tm 0 g 0.6787 Tc ( )Tj ET 0.5 g 421.65 584.97 25.92 -0.48 re f BT 10.079 0 0 10.079 447.81 581.1301 Tm 0 g ( )Tj ET 0.5 g 471.57 584.97 20.88 -0.48 re f BT 10.079 0 0 10.079 492.69 581.1301 Tm 0 g 0.5596 Tc [( )-142.9( )]TJ ET 0.5 g 528.45 584.97 25.92 -0.48 re f BT 10.079 0 0 10.079 554.61 581.1301 Tm 0 g 0 Tc ( )Tj -51.1001 -1.1192 TD 0.6787 Tw [( Total )678.7(assets)-21094.6( )428.7(626.8)-12.3( )595.3( )71.5( )-333.3(136.5)-12.3( )-333.3(763.3)-12.3( )95.3(32.0)-12.2( )119.1( )-23.8( )-1190.5(795.3)-12.3( )]TJ T* 26.4668 Tc 0 Tw [( )25788.1( )]TJ ET 0.5 g 323.25 563.61 22.56 -2.88 re f BT 10.079 0 0 10.079 346.05 558.5701 Tm 0 g 0.0834 Tc [( )-523.8( )]TJ ET 0.5 g 367.41 563.61 25.92 -2.88 re f BT 10.079 0 0 10.079 393.57 558.5701 Tm 0 g 0.6787 Tc ( )Tj ET 0.5 g 421.65 563.61 25.92 -2.88 re f BT 10.079 0 0 10.079 447.81 558.5701 Tm 0 g ( )Tj ET 0.5 g 471.57 563.61 20.88 -2.88 re f BT 10.079 0 0 10.079 492.69 558.5701 Tm 0 g 0.5596 Tc [( )-142.9( )]TJ ET 0.5 g 528.45 563.61 25.92 -2.88 re f BT 10.079 0 0 10.079 554.61 558.5701 Tm 0 g 0 Tc ( )Tj -51.1001 -1.1192 TD (First Nine Months 2002)Tj ET 39.57 546.33 m 136.53 546.33 l S BT 10.079 0 0 10.079 308.85 547.29 Tm 0.6787 Tc [( )428.7( )-1333.4( )595.3( )71.5( )-1666.8( )-1666.8( )428.7( )-1166.7( )119.1( )-23.8( )-857.2( )-1666.8( )]TJ ET 0.934 g 39.57 545.13 269.04 -11.04 re f BT 10.079 0 0 10.079 39.57 536.0101 Tm 0 g 0 Tc (Sales and services to external customers)Tj ET 0.934 g 308.85 545.13 9.12 -11.04 re f BT 10.079 0 0 10.079 308.85 536.0101 Tm 0 g ( )Tj ET 0.934 g 318.21 545.13 4.8 -11.04 re f BT 10.079 0 0 10.079 318.21 536.0101 Tm 0 g ($)Tj ET 0.934 g 323.25 545.13 22.56 -11.04 re f BT 10.079 0 0 10.079 323.25 536.0101 Tm 0 g (404.7)Tj ET 0.934 g 346.05 545.13 3.12 -11.04 re f BT 10.079 0 0 10.079 346.05 536.0101 Tm 0 g ( )Tj ET 0.934 g 349.41 545.13 8.4 -11.04 re f BT 10.079 0 0 10.079 349.41 536.0101 Tm 0 g ( )Tj ET 0.934 g 358.05 545.13 9.12 -11.04 re f BT 10.079 0 0 10.079 362.37 536.0101 Tm 0 g ($)Tj ET 0.934 g 367.41 545.13 25.92 -11.04 re f BT 10.079 0 0 10.079 367.41 536.0101 Tm 0 g ( )Tj ET 0.934 g 393.57 545.13 9.12 -11.04 re f BT 10.079 0 0 10.079 393.57 536.0101 Tm 0 g ( )Tj ET 0.934 g 402.93 545.13 9.12 -11.04 re f BT 10.079 0 0 10.079 402.93 536.0101 Tm 0 g ( )Tj ET 0.934 g 412.29 545.13 9.12 -11.04 re f BT 10.079 0 0 10.079 416.61 536.0101 Tm 0 g ($)Tj ET 0.934 g 421.65 545.13 25.92 -11.04 re f BT 10.079 0 0 10.079 425.01 536.0101 Tm 0 g (404.7)Tj ET 0.934 g 447.81 545.13 9.12 -11.04 re f BT 10.079 0 0 10.079 447.81 536.0101 Tm 0 g ( )Tj ET 0.934 g 457.17 545.13 9.12 -11.04 re f BT 10.079 0 0 10.079 457.17 536.0101 Tm 0 g ( )Tj ET 0.934 g 466.53 545.13 4.8 -11.04 re f BT 10.079 0 0 10.079 466.53 536.0101 Tm 0 g ($)Tj ET 0.934 g 471.57 545.13 20.88 -11.04 re f BT 10.079 0 0 10.079 471.57 536.0101 Tm 0 g ( )Tj ET 0.934 g 492.69 545.13 7.92 -11.04 re f BT 10.079 0 0 10.079 492.69 536.0101 Tm 0 g ( )Tj ET 0.934 g 500.85 545.13 9.36 -11.04 re f BT 10.079 0 0 10.079 500.85 536.0101 Tm 0 g ( )Tj ET 0.934 g 510.45 545.13 17.76 -11.04 re f BT 10.079 0 0 10.079 523.4099 536.0101 Tm 0 g ($)Tj ET 0.934 g 528.45 545.13 25.92 -11.04 re f BT 10.079 0 0 10.079 531.8099 536.0101 Tm 0 g (404.7)Tj ET 0.934 g 554.61 545.13 17.76 -11.04 re f BT 10.079 0 0 10.079 554.61 536.0101 Tm 0 g ( )Tj -51.1001 -1.2144 TD 0.6787 Tw [(Royalties )678.7(and )678.7(management )678.7(fees)-14025.9( )-571.4(8.0)-12.1( )595.3( )71.5( )-1666.8( )-1333.4(8.0)-12.1( )428.7( )-1166.7( )119.1( )-23.8( )-2190.6(8.0)-12.1( )]TJ 0 -1.1192 TD 26.4668 Tc 0 Tw [( )25788.1( )]TJ ET 0.5 g 323.25 516.33 22.56 -0.48 re f BT 10.079 0 0 10.079 346.05 512.4901 Tm 0 g 0.0834 Tc [( )-523.8( )]TJ ET 0.5 g 367.41 516.33 25.92 -0.48 re f BT 10.079 0 0 10.079 393.57 512.4901 Tm 0 g 0.6787 Tc ( )Tj ET 0.5 g 421.65 516.33 25.92 -0.48 re f BT 10.079 0 0 10.079 447.81 512.4901 Tm 0 g ( )Tj ET 0.5 g 471.57 516.33 20.88 -0.48 re f BT 10.079 0 0 10.079 492.69 512.4901 Tm 0 g 0.5596 Tc [( )-142.9( )]TJ ET 0.5 g 528.45 516.33 25.92 -0.48 re f BT 10.079 0 0 10.079 554.61 512.4901 Tm 0 g 0 Tc ( )Tj ET 0.934 g 39.57 510.33 9.12 -11.04 re f BT 10.079 0 0 10.079 39.57 501.2101 Tm 0 g ( )Tj ET 0.934 g 48.93 510.33 259.68 -11.04 re f BT 10.079 0 0 10.079 48.93 501.2101 Tm 0 g (Total operating revenues)Tj ET 0.934 g 308.85 510.33 9.12 -11.04 re f BT 10.079 0 0 10.079 308.85 501.2101 Tm 0 g ( )Tj ET 0.934 g 318.21 510.33 4.8 -11.04 re f BT 10.079 0 0 10.079 318.21 501.2101 Tm 0 g ( )Tj ET 0.934 g 323.25 510.33 22.56 -11.04 re f BT 10.079 0 0 10.079 323.25 501.2101 Tm 0 g (412.7)Tj ET 0.934 g 346.05 510.33 3.12 -11.04 re f BT 10.079 0 0 10.079 346.05 501.2101 Tm 0 g ( )Tj ET 0.934 g 349.41 510.33 8.4 -11.04 re f BT 10.079 0 0 10.079 349.41 501.2101 Tm 0 g ( )Tj ET 0.934 g 358.05 510.33 9.12 -11.04 re f BT 10.079 0 0 10.079 358.05 501.2101 Tm 0 g ( )Tj ET 0.934 g 367.41 510.33 25.92 -11.04 re f BT 10.079 0 0 10.079 367.41 501.2101 Tm 0 g ( )Tj ET 0.934 g 393.57 510.33 9.12 -11.04 re f BT 10.079 0 0 10.079 393.57 501.2101 Tm 0 g ( )Tj ET 0.934 g 402.93 510.33 9.12 -11.04 re f BT 10.079 0 0 10.079 402.93 501.2101 Tm 0 g ( )Tj ET 0.934 g 412.29 510.33 9.12 -11.04 re f BT 10.079 0 0 10.079 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Futu)Tj 51.2104 0 TD (re )Tj -51.2104 -1.1191 TD (minimum payments under capital leases and non-cancellable operating leases, including the Company)Tj /F2 1 Tf 40.8793 0 TD ()Tj /F12 1 Tf 0.333 0 TD (s share of ventures, at )Tj -41.2123 -1.1192 TD (December 31, 2002 are expected to be: )Tj 12 0 0 12 123.81 890.97 Tm 0.93 Tc [( )-14280( )760( )-160( )900( )300( )-2760( )-300( )]TJ 7.439 0 0 7.439 123.81 880.89 Tm 1.6535 Tc ( )Tj /F13 1 Tf 35.2303 0.0323 TD 0 Tc (\(In Millions\))Tj /F12 1 Tf -35.2303 -1.1614 TD 1.6535 Tc [( )-23035.2( )]TJ ET 0.5 g 337.65 873.21 150.72 -0.48 re f BT /F13 1 Tf 7.439 0 0 7.439 203.01 863.61 Tm 0 g 0 Tc (Years Ended)Tj /F12 1 Tf 16.1956 -0.0323 TD ( )Tj /F13 1 Tf 1.9357 0.0323 TD (Capital)Tj /F12 1 Tf 3.2585 -0.0323 TD ( )Tj /F13 1 Tf 7.0009 0.0323 TD (Operating)Tj -28.4553 -1.226 TD (December 31)Tj /F12 1 Tf 16.2602 -0.0323 TD ( )Tj /F13 1 Tf 2.097 0.0323 TD (Leases)Tj /F12 1 Tf 3.0972 -0.0323 TD ( )Tj /F13 1 Tf 7.7752 0.0323 TD (Leases)Tj ET 0.5 g 123.81 846.57 199.44 -0.48 re f BT /F12 1 Tf 7.439 0 0 7.439 323.49 845.85 Tm 0 g ( )Tj ET 0.5 g 337.65 846.57 24.24 -0.48 re f BT 7.439 0 0 7.439 362.13 845.85 Tm 0 g ( )Tj ET 0.5 g 372.69 846.57 115.68 -0.48 re f 0.934 g 123.81 844.17 13.92 -11.04 re f BT 10.079 0 0 10.079 123.81 835.05 Tm 0 g ( )Tj ET 0.934 g 137.97 844.17 185.28 -11.04 re f BT 10.079 0 0 10.079 137.97 835.05 Tm 0 g (2003)Tj ET 0.934 g 323.49 844.17 13.92 -11.04 re f BT 10.079 0 0 10.079 323.49 835.05 Tm 0 g ( )Tj ET 0.934 g 337.65 844.17 4.8 -11.04 re f BT 10.079 0 0 10.079 337.65 835.05 Tm 0 g ($)Tj ET 0.934 g 342.69 844.17 15.84 -11.04 re f BT 10.079 0 0 10.079 346.05 835.05 Tm 0 g (2.8)Tj ET 0.934 g 358.77 844.17 3.12 -11.04 re f BT 10.079 0 0 10.079 358.77 835.05 Tm 0 g ( )Tj ET 0.934 g 362.13 844.17 10.32 -11.04 re f BT 10.079 0 0 10.079 362.13 835.05 Tm 0 g ( )Tj ET 0.934 g 372.69 844.17 47.04 -11.04 re f BT 10.079 0 0 10.079 414.93 835.05 Tm 0 g ($)Tj ET 0.934 g 419.97 844.17 17.52 -11.04 re f BT 10.079 0 0 10.079 419.97 835.05 Tm 0 g (18.7)Tj ET 0.934 g 437.73 844.17 50.64 -11.04 re f BT 10.079 0 0 10.079 437.73 835.05 Tm 0 g ( )Tj -31.1458 -1.2144 TD 1.1549 Tw [( 2004)-16406.6( )571.5(2.2)-12.1( )1071.5( )357.2( )-3286(14.0)-12.2( )]TJ ET 0.934 g 123.81 819.69 13.92 -11.04 re f BT 10.079 0 0 10.079 123.81 810.5701 Tm 0 g 0 Tw ( )Tj ET 0.934 g 137.97 819.69 185.28 -11.04 re f BT 10.079 0 0 10.079 137.97 810.5701 Tm 0 g (2005)Tj ET 0.934 g 323.49 819.69 13.92 -11.04 re f BT 10.079 0 0 10.079 323.49 810.5701 Tm 0 g ( )Tj ET 0.934 g 337.65 819.69 4.8 -11.04 re f BT 10.079 0 0 10.079 337.65 810.5701 Tm 0 g ( )Tj ET 0.934 g 342.69 819.69 15.84 -11.04 re f BT 10.079 0 0 10.079 346.05 810.5701 Tm 0 g (1.2)Tj ET 0.934 g 358.77 819.69 3.12 -11.04 re f BT 10.079 0 0 10.079 358.77 810.5701 Tm 0 g ( )Tj ET 0.934 g 362.13 819.69 10.32 -11.04 re f BT 10.079 0 0 10.079 362.13 810.5701 Tm 0 g ( )Tj ET 0.934 g 372.69 819.69 47.04 -11.04 re f BT 10.079 0 0 10.079 372.69 810.5701 Tm 0 g ( )Tj ET 0.934 g 419.97 819.69 17.52 -11.04 re f BT 10.079 0 0 10.079 425.01 810.5701 Tm 0 g (9.9)Tj ET 0.934 g 437.73 819.69 50.64 -11.04 re f BT 10.079 0 0 10.079 437.73 810.5701 Tm 0 g ( )Tj -31.1458 -1.2144 TD 1.1549 Tw [( 2006)-16406.6( )571.5(1.1)-12.1( )1071.5( )357.2( )-3786.1(7.0)-12.1( )]TJ ET 0.934 g 123.81 795.21 13.92 -11.04 re f BT 10.079 0 0 10.079 123.81 786.09 Tm 0 g 0 Tw ( )Tj ET 0.934 g 137.97 795.21 185.28 -11.04 re f BT 10.079 0 0 10.079 137.97 786.09 Tm 0 g (2007)Tj ET 0.934 g 323.49 795.21 13.92 -11.04 re f BT 10.079 0 0 10.079 323.49 786.09 Tm 0 g ( )Tj ET 0.934 g 337.65 795.21 4.8 -11.04 re f BT 10.079 0 0 10.079 337.65 786.09 Tm 0 g ( )Tj ET 0.934 g 342.69 795.21 15.84 -11.04 re f BT 10.079 0 0 10.079 346.05 786.09 Tm 0 g (1.8)Tj ET 0.934 g 358.77 795.21 3.12 -11.04 re f BT 10.079 0 0 10.079 358.77 786.09 Tm 0 g ( )Tj ET 0.934 g 362.13 795.21 10.32 -11.04 re f BT 10.079 0 0 10.079 362.13 786.09 Tm 0 g ( )Tj ET 0.934 g 372.69 795.21 47.04 -11.04 re f BT 10.079 0 0 10.079 372.69 786.09 Tm 0 g ( )Tj ET 0.934 g 419.97 795.21 17.52 -11.04 re f BT 10.079 0 0 10.079 425.01 786.09 Tm 0 g (3.9)Tj ET 0.934 g 437.73 795.21 50.64 -11.04 re f BT 10.079 0 0 10.079 437.73 786.09 Tm 0 g ( )Tj -31.1458 -1.2144 TD [( )-1154.9(2008 and thereafter)-10632.2( )-1154.9( )-1083.5(.6)-12( )-83.4( )-797.7( )-4941(7.3)-12.1( )]TJ 0 -1.1191 TD 19.5614 Tc [( )18406.5( )]TJ ET 0.5 g 342.69 766.41 15.84 -0.48 re f BT 10.079 0 0 10.079 358.77 762.5701 Tm 0 g 0.0834 Tc [( )-714.3( )]TJ ET 0.5 g 419.97 766.41 17.52 -0.48 re f BT 10.079 0 0 10.079 437.73 762.5701 Tm 0 g 0 Tc ( )Tj ET 0.934 g 123.81 760.41 199.44 -11.04 re f BT 10.079 0 0 10.079 123.81 751.29 Tm 0 g (Total minimum lease payments)Tj ET 0.934 g 323.49 760.41 13.92 -11.04 re f BT 10.079 0 0 10.079 323.49 751.29 Tm 0 g ( )Tj ET 0.934 g 337.65 760.41 4.8 -11.04 re f BT 10.079 0 0 10.079 337.65 751.29 Tm 0 g ( )Tj ET 0.934 g 342.69 760.41 15.84 -11.04 re f BT 10.079 0 0 10.079 346.05 751.29 Tm 0 g (9.7)Tj ET 0.934 g 358.77 760.41 3.12 -11.04 re f BT 10.079 0 0 10.079 358.77 751.29 Tm 0 g ( )Tj ET 0.934 g 362.13 760.41 10.32 -11.04 re f BT 10.079 0 0 10.079 362.13 751.29 Tm 0 g ( )Tj ET 0.934 g 372.69 760.41 47.04 -11.04 re f BT 10.079 0 0 10.079 414.93 751.29 Tm 0 g ($)Tj ET 0.934 g 419.97 760.41 17.52 -11.04 re f BT 10.079 0 0 10.079 419.97 751.29 Tm 0 g (60.8)Tj ET 0.934 g 437.73 760.41 50.64 -11.04 re f BT 10.079 0 0 10.079 437.73 751.29 Tm 0 g ( )Tj 7.439 0 0 7.439 123.81 742.41 Tm 1.6535 Tc [( )-23035.2( )1226( )-258.1( )1451.8( )484( )]TJ ET 0.5 g 419.97 745.53 17.52 -2.88 re f BT 7.439 0 0 7.439 437.73 742.41 Tm 0 g 0 Tc ( )Tj 10.079 0 0 10.079 123.81 731.61 Tm [(Amounts representing interest)-7758.5( )-1154.9( )-250(\(1.9)-12.5(\) )-797.7( )-6203( )]TJ 0 -1.143 TD 19.5614 Tc [( )18406.5( )]TJ ET 0.5 g 342.69 723.93 15.84 -0.48 re f BT 10.079 0 0 10.079 358.77 720.0901 Tm 0 g 0.0834 Tc [( )-714.3( )-4357.5( )-1428.7( )]TJ ET 0.934 g 123.81 717.93 199.44 -11.04 re f BT 10.079 0 0 10.079 123.81 708.8101 Tm 0 g 0 Tc (Present value of net minimum lease payments)Tj ET 0.934 g 323.49 717.93 13.92 -11.04 re f BT 10.079 0 0 10.079 323.49 708.8101 Tm 0 g ( )Tj ET 0.934 g 337.65 717.93 4.8 -11.04 re f BT 10.079 0 0 10.079 337.65 708.8101 Tm 0 g ($)Tj ET 0.934 g 342.69 717.93 15.84 -11.04 re f BT 10.079 0 0 10.079 346.05 708.8101 Tm 0 g (7.8)Tj ET 0.934 g 358.77 717.93 3.12 -11.04 re f BT 10.079 0 0 10.079 358.77 708.8101 Tm 0 g ( )Tj ET 0.934 g 362.13 717.93 10.32 -11.04 re f BT 10.079 0 0 10.079 362.13 708.8101 Tm 0 g ( )Tj ET 0.934 g 372.69 717.93 47.04 -11.04 re f BT 10.079 0 0 10.079 372.69 708.8101 Tm 0 g ( )Tj ET 0.934 g 419.97 717.93 17.52 -11.04 re f BT 10.079 0 0 10.079 419.97 708.8101 Tm 0 g ( )Tj ET 0.934 g 437.73 717.93 50.64 -11.04 re f BT 10.079 0 0 10.079 437.73 708.8101 Tm 0 g ( )Tj -31.1458 -1.1192 TD 19.5614 Tc [( )18406.5( )]TJ ET 0.5 g 342.69 702.57 15.84 -2.88 re f BT 10.079 0 0 10.079 358.77 697.53 Tm 0 g 0.0834 Tc [( )-714.3( )-4357.5( )-1428.7( )]TJ -33.0508 -2.524 TD 0 Tc ( The $70.5 million of total minimum lease payments is comprised of the Company)Tj /F2 1 Tf 34.0519 0 TD ()Tj /F12 1 Tf 0.333 0 TD (s direct obligation of $12.5 million and the )Tj -34.3849 -1.1192 TD (Company)Tj /F2 1 Tf 3.8886 0 TD ()Tj /F12 1 Tf 0.333 0 TD (s share of ventures)Tj /F2 1 Tf 7.4693 0 TD ()Tj /F12 1 Tf 0.333 0 TD ( obligations of $58.0 million, which are largely non-recourse to the Company. )Tj /F13 1 Tf -12.0239 -2.5955 TD -0.0001 Tc 0.0001 Tw (NOTE I )Tj /F6 1 Tf 3.7227 0 TD 0 Tc 0 Tw ()Tj /F13 1 Tf 0.9999 0 TD -0.0001 Tc 0.0001 Tw ( INVESTMENTS IN ASSOCIATED IRON ORE VENTURES)Tj /F12 1 Tf -4.7226 -2.5717 TD 0 Tc 0 Tw ( The Company)Tj /F2 1 Tf 6.9434 0 TD ()Tj /F12 1 Tf 0.333 0 TD (s investments in mining ventures at September 30 consist of its 35 percent ownership \(46.7 percent participating\) in )Tj -7.2763 -1.1192 TD (Empire Iron Mining Partnership and 23 percent in Hibbing Taconite Company. The remaining interests in the ventures are owned by)Tj 53.1542 0 TD ( )Tj -53.1542 -1.1192 TD (U.S. and Canadian integrated steel companies. )Tj 12 0 0 12 123.81 573.2101 Tm 0.33 Tc [( )-17940( )160( )-900( )320( )320( )-480( )-580( )-480( )-580( )40( )160( )-900( )]TJ 7.439 0 0 7.439 123.81 563.1301 Tm 29.6248 Tc [( )28939.2( )29197.3( )27487.4( )29455.4( )]TJ /F13 1 Tf 35.4562 0.0323 TD 0 Tc (September 30, 2002)Tj /F12 1 Tf 9.227 -0.0323 TD 0.6211 Tc [( )193.6( )-1516.3( )]TJ -44.6832 -1.1292 TD 0 Tc ( )Tj ET 0.5 g 346.05 555.45 142.32 -0.48 re f BT /F13 1 Tf 7.439 0 0 7.439 185.49 545.85 Tm 0 g (Financial position \(in Millions\))Tj /F12 1 Tf 21.5834 -0.0323 TD ( )Tj /F13 1 Tf 1.0324 0.0323 TD (Empire)Tj /F12 1 Tf 3.3875 -0.0323 TD ( )Tj /F13 1 Tf 0.9033 0.0323 TD (Hibbing)Tj /F12 1 Tf 4.0328 -0.0323 TD ( )Tj /F13 1 Tf 1.9035 0.0323 TD (Other)Tj /F12 1 Tf 3.5488 -0.0323 TD ( )Tj /F13 1 Tf 1.4518 0.0323 TD (Total)Tj ET 0.5 g 123.81 537.93 222 -0.48 re f BT /F12 1 Tf 7.439 0 0 7.439 346.05 537.2101 Tm 0 g ( )Tj ET 0.5 g 353.01 537.93 25.68 -0.48 re f BT 7.439 0 0 7.439 378.93 537.2101 Tm 0 g ( )Tj ET 0.5 g 382.05 537.93 33.36 -0.48 re f BT 7.439 0 0 7.439 415.65 537.2101 Tm 0 g ( )Tj ET 0.5 g 422.61 537.93 33.36 -0.48 re f BT 7.439 0 0 7.439 456.21 537.2101 Tm 0 g ( )Tj ET 0.5 g 462.69 537.93 25.68 -0.48 re f 0.934 g 123.81 535.53 222 -11.04 re f BT 10.079 0 0 10.079 123.81 526.41 Tm 0 g (Property, plant and equipment)Tj ET 0.934 g 346.05 535.53 6.72 -11.04 re f BT 10.079 0 0 10.079 346.05 526.41 Tm 0 g ( )Tj ET 0.934 g 353.01 535.53 4.8 -11.04 re f BT 10.079 0 0 10.079 353.01 526.41 Tm 0 g ($)Tj ET 0.934 g 358.05 535.53 17.52 -11.04 re f BT 10.079 0 0 10.079 358.05 526.41 Tm 0 g (47.7)Tj ET 0.934 g 375.81 535.53 2.88 -11.04 re f BT 10.079 0 0 10.079 375.81 526.41 Tm 0 g ( )Tj ET 0.934 g 378.93 535.53 2.88 -11.04 re f BT 10.079 0 0 10.079 378.93 526.41 Tm 0 g ( )Tj ET 0.934 g 382.05 535.53 6.72 -11.04 re f BT 10.079 0 0 10.079 383.97 526.41 Tm 0 g ($)Tj ET 0.934 g 389.01 535.53 12.48 -11.04 re f BT 10.079 0 0 10.079 389.01 526.41 Tm 0 g (2.8)Tj ET 0.934 g 401.73 535.53 13.68 -11.04 re f BT 10.079 0 0 10.079 401.73 526.41 Tm 0 g ( )Tj ET 0.934 g 415.65 535.53 6.72 -11.04 re f BT 10.079 0 0 10.079 415.65 526.41 Tm 0 g ( )Tj ET 0.934 g 422.61 535.53 6.72 -11.04 re f BT 10.079 0 0 10.079 424.53 526.41 Tm 0 g ($)Tj ET 0.934 g 429.57 535.53 12.48 -11.04 re f BT 10.079 0 0 10.079 429.57 526.41 Tm 0 g (2.0)Tj ET 0.934 g 442.29 535.53 13.68 -11.04 re f BT 10.079 0 0 10.079 442.29 526.41 Tm 0 g ( )Tj ET 0.934 g 456.21 535.53 6.24 -11.04 re f BT 10.079 0 0 10.079 456.21 526.41 Tm 0 g ( )Tj ET 0.934 g 462.69 535.53 4.8 -11.04 re f BT 10.079 0 0 10.079 462.69 526.41 Tm 0 g ($)Tj ET 0.934 g 467.73 535.53 17.52 -11.04 re f BT 10.079 0 0 10.079 467.73 526.41 Tm 0 g (52.5)Tj ET 0.934 g 485.49 535.53 2.88 -11.04 re f BT 10.079 0 0 10.079 485.49 526.41 Tm 0 g ( )Tj -35.8844 -1.2144 TD 0.4405 Tw [(Other )440.5(long-term )440.5(assets)-12996.5( )-309.6(3.8)-12.1( )380.9( )380.9( 3.3)-12.1( )-690.6( )-571.5( )-690.6( )47.6( )-309.6(7.1)-12.1( )]TJ ET 0.934 g 123.81 511.05 222 -11.04 re f BT 10.079 0 0 10.079 123.81 501.9301 Tm 0 g 0 Tw (Long-term liabilities)Tj ET 0.934 g 346.05 511.05 6.72 -11.04 re f BT 10.079 0 0 10.079 346.05 501.9301 Tm 0 g ( )Tj ET 0.934 g 353.01 511.05 4.8 -11.04 re f BT 10.079 0 0 10.079 353.01 501.9301 Tm 0 g ( )Tj ET 0.934 g 358.05 511.05 17.52 -11.04 re f BT 10.079 0 0 10.079 358.05 501.9301 Tm 0 g (42.2)Tj ET 0.934 g 375.81 511.05 2.88 -11.04 re f BT 10.079 0 0 10.079 375.81 501.9301 Tm 0 g ( )Tj ET 0.934 g 378.93 511.05 2.88 -11.04 re f BT 10.079 0 0 10.079 378.93 501.9301 Tm 0 g ( )Tj ET 0.934 g 382.05 511.05 6.72 -11.04 re f BT 10.079 0 0 10.079 382.05 501.9301 Tm 0 g ( )Tj ET 0.934 g 389.01 511.05 12.48 -11.04 re f BT 10.079 0 0 10.079 389.01 501.9301 Tm 0 g (3.3)Tj ET 0.934 g 401.73 511.05 13.68 -11.04 re f BT 10.079 0 0 10.079 401.73 501.9301 Tm 0 g ( )Tj ET 0.934 g 415.65 511.05 6.72 -11.04 re f BT 10.079 0 0 10.079 415.65 501.9301 Tm 0 g ( )Tj ET 0.934 g 422.61 511.05 6.72 -11.04 re f BT 10.079 0 0 10.079 422.61 501.9301 Tm 0 g ( )Tj ET 0.934 g 429.57 511.05 12.48 -11.04 re f BT 10.079 0 0 10.079 429.57 501.9301 Tm 0 g ( )Tj ET 0.934 g 442.29 511.05 13.68 -11.04 re f BT 10.079 0 0 10.079 442.29 501.9301 Tm 0 g ( )Tj ET 0.934 g 456.21 511.05 6.24 -11.04 re f BT 10.079 0 0 10.079 456.21 501.9301 Tm 0 g ( )Tj ET 0.934 g 462.69 511.05 4.8 -11.04 re f BT 10.079 0 0 10.079 462.69 501.9301 Tm 0 g ( )Tj ET 0.934 g 467.73 511.05 17.52 -11.04 re f BT 10.079 0 0 10.079 467.73 501.9301 Tm 0 g (45.5)Tj ET 0.934 g 485.49 511.05 2.88 -11.04 re f BT 10.079 0 0 10.079 485.49 501.9301 Tm 0 g ( )Tj -35.8844 -1.1191 TD 21.7997 Tc [( )21359.2( )]TJ ET 0.5 g 358.05 494.49 17.52 -0.48 re f BT 10.079 0 0 10.079 375.81 490.6501 Tm 0 g 0.0596 Tc ( )Tj ET 0.5 g 389.01 494.49 12.48 -0.48 re f BT 10.079 0 0 10.079 401.73 490.6501 Tm 0 g 1.1311 Tc [( )690.6( )]TJ ET 0.5 g 429.57 494.49 12.48 -0.48 re f BT 10.079 0 0 10.079 442.29 490.6501 Tm 0 g [( )738.2( )]TJ ET 0.5 g 467.73 494.49 17.52 -0.48 re f BT 10.079 0 0 10.079 485.49 490.6501 Tm 0 g 0 Tc ( )Tj -35.8844 -1.1192 TD (Company)Tj /F2 1 Tf 3.8886 0 TD ()Tj /F12 1 Tf 0.333 0 TD 1.1311 Tw [(s )1131.1(investment)-12800.5( )690.6($)-500.1(9.3)-12.1( )1071.5( )881.1($2.8)-12.1( )500.1($2.0)-12.1( )738.2($14.1)-12.2( )]TJ -4.2216 -1.1192 TD 21.7997 Tc 0 Tw [( )21359.2( )]TJ ET 0.5 g 358.05 473.13 17.52 -2.88 re f BT 10.079 0 0 10.079 375.81 468.0901 Tm 0 g 0.0596 Tc ( )Tj ET 0.5 g 389.01 473.13 12.48 -2.88 re f BT 10.079 0 0 10.079 401.73 468.0901 Tm 0 g 1.1311 Tc [( )690.6( )]TJ ET 0.5 g 429.57 473.13 12.48 -2.88 re f BT 10.079 0 0 10.079 442.29 468.0901 Tm 0 g [( )738.2( )]TJ ET 0.5 g 467.73 473.13 17.52 -2.88 re f BT 10.079 0 0 10.079 485.49 468.0901 Tm 0 g 0 Tc ( )Tj /F13 1 Tf -45.6234 -2.5955 TD -0.0001 Tc 0.0001 Tw (NOTE J )Tj /F6 1 Tf 3.8337 0 TD 0 Tc 0 Tw ()Tj /F13 1 Tf 0.9999 0 TD -0.0001 Tc 0.0001 Tw ( IMPAIRMENT OF INVESTMENT IN CAL)Tj /F12 1 Tf -4.8336 -2.5717 TD 0 Tc 0 Tw ( In September 2002, the Company concluded its investment in CAL)Tj /F2 1 Tf 28.1904 0 TD ()Tj /F12 1 Tf 0.333 0 TD (s HBI plant in Trinidad of $121.5 million, or $95.7 million net of )Tj -28.5234 -1.1192 TD (the minority interest, was impaired after determining that projected future cash flows no longer exceeded the Company)Tj /F2 1 Tf 47.6257 0 TD ()Tj /F12 1 Tf 0.333 0 TD (s investment. No )Tj -47.9586 -1.1192 TD (decision has been made with respect to the future of the HBI plant which will remain idle until a decision is made. CAL is owne)Tj 51.2943 0 TD (d by the )Tj -51.2943 -1.1192 TD (Company, 82 percent, and Lurgi Metallurgie GmbH, 18 percent. )Tj 27.3359 -2.6907 TD (11)Tj ET endstreamendobj34 0 obj<< /Type /Page /Parent 101 0 R /Resources 35 0 R /Contents 36 0 R /MediaBox [ 0 0 612 1008 ] /CropBox [ 0 0 612 1008 ] /Rotate 0 >> endobj35 0 obj<< /ProcSet [ /PDF /Text ] /Font << /F2 120 0 R /F4 93 0 R /F6 119 0 R /F12 91 0 R /F13 92 0 R >> /ExtGState << /GS1 124 0 R >> >> endobj36 0 obj<< /Length 17301 >> stream 1 g /GS1 gs 1 i 18.21 989.85 575.76 -518.16 re f BT /F12 1 Tf 12 0 0 12 25.65 979.05 Tm 0 g 0 Tc 0 Tw ( )Tj /F13 1 Tf 10.079 0 0 10.079 25.65 952.41 Tm -0.0001 Tc 0.0001 Tw (ITEM 2. MANAGEMENT)Tj /F6 1 Tf 11.471 0 TD 0 Tc 0 Tw ()Tj /F13 1 Tf 0.333 0 TD -0.0001 Tc 0.0001 Tw (S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF )Tj -11.8039 -1.2382 TD 0 Tw (OPERATIONS)Tj /F4 1 Tf 0 -2.5717 TD 0.0001 Tw (COMPARISON OF THIRD QUARTER AND FIRST NINE MONTHS 2002 AND 2001)Tj /F12 1 Tf 0 -2.5479 TD 0 Tc 0 Tw ( The net loss was $92.2 million, or $9.12 per share \(all per share earnings are )Tj /F2 1 Tf 32.0741 0 TD ()Tj /F12 1 Tf 0.444 0 TD (diluted earnings per share)Tj /F2 1 Tf 10.3021 0 TD ()Tj /F12 1 Tf 0.444 0 TD ( unless stated otherwise\) in )Tj -43.2641 -1.1192 TD (the third quarter, and $104.4 million, or $10.32 per share for the first nine months of 2002. Excluding a special item due to t)Tj 49.6015 0 TD (he )Tj -49.6015 -1.1192 TD (impairment of the Company)Tj /F2 1 Tf 11.304 0 TD ()Tj /F12 1 Tf 0.333 0 TD (s investment in Cliffs and Associates Limited \()Tj /F2 1 Tf 18.8033 0 TD ()Tj /F12 1 Tf 0.444 0 TD -0.0001 Tc (CAL)Tj /F2 1 Tf 1.9998 0 TD 0 Tc ()Tj /F12 1 Tf 0.444 0 TD (\), income for the third quarter was $3.5 million, and )Tj -33.328 -1.1192 TD (there was a loss of $8.7 million for the first nine months. In the third quarter and first nine months of 2001, the Company had)Tj 50.0745 0 TD ( losses of )Tj -50.0745 -1.1191 TD ($1.7 million, or $.16 per share, and $26.4 million, or $2.61 per share, respectively, before a $9.3 million after-tax credit re)Tj 48.8206 0 TD (lating to the )Tj -48.8206 -1.1192 TD (cumulative effect of an accounting change recorded in the first quarter of 2001. Following is a summary of results: )Tj 12 0 0 12 95.73 818.97 Tm 1.13 Tc [( )-12980( )700( )-380( )700( )960( )40( )1100( )60( )360( )-800( )360( )700( )-380( )]TJ 7.439 0 0 7.439 95.73 808.89 Tm 1.9761 Tc [( )-20938.2( )]TJ /F13 1 Tf 36.4886 0.0323 TD 0 Tc (\(In Millions, Except Per Share\))Tj /F12 1 Tf -36.4886 -1.1614 TD 1.9761 Tc [( )-20938.2( )]TJ ET 0.5 g 317.73 801.21 198.72 -0.48 re f BT 7.439 0 0 7.439 95.73 791.37 Tm 0 g [( )-20938.2( )]TJ /F13 1 Tf 31.9719 0.0323 TD 0 Tc (Third Quarter)Tj /F12 1 Tf 8.4204 -0.0323 TD ( )Tj /F13 1 Tf 5.2265 0.0323 TD (First Nine Months)Tj /F12 1 Tf -45.6188 -1.1614 TD 1.9761 Tc [( )-20938.2( )]TJ ET 0.5 g 317.73 783.69 78.24 -0.48 re f BT 7.439 0 0 7.439 396.21 782.97 Tm 0 g 0 Tc ( )Tj ET 0.5 g 412.05 783.69 104.4 -0.48 re f BT 7.439 0 0 7.439 95.73 773.85 Tm 0 g 1.9761 Tc [( )-20938.2( )]TJ /F13 1 Tf 31.3266 0.0323 TD 0 Tc (2002)Tj /F12 1 Tf 3.5488 -0.0323 TD ( )Tj /F13 1 Tf 2.8391 0.0323 TD (2001)Tj /F12 1 Tf 2.6778 -0.0323 TD ( )Tj /F13 1 Tf 4.4845 0.0323 TD (2002)Tj /F12 1 Tf 4.4522 -0.0323 TD ( )Tj /F13 1 Tf 3.7102 0.0323 TD (2001)Tj /F12 1 Tf -53.0391 -1.1614 TD 1.9761 Tc [( )-20938.2( )]TJ ET 0.5 g 317.73 766.17 37.2 -0.48 re f BT 7.439 0 0 7.439 355.17 765.4501 Tm 0 g 0 Tc ( )Tj ET 0.5 g 371.73 766.17 24.24 -0.48 re f BT 7.439 0 0 7.439 396.21 765.4501 Tm 0 g ( )Tj ET 0.5 g 412.05 766.17 50.4 -0.48 re f BT 7.439 0 0 7.439 462.69 765.4501 Tm 0 g ( )Tj ET 0.5 g 479.25 766.17 37.2 -0.48 re f 0.934 g 95.73 763.77 205.2 -22.32 re f BT 10.079 0 0 10.079 95.73 754.65 Tm 0 g (Income \(loss\) before special item and cumulative )Tj 0.7382 -1.1191 TD (effect of accounting change:)Tj ET 0.934 g 301.17 763.77 16.32 -22.32 re f BT 10.079 0 0 10.079 301.17 743.3701 Tm 0 g ( )Tj ET 0.934 g 317.73 763.77 7.92 -22.32 re f BT 10.079 0 0 10.079 317.73 743.3701 Tm 0 g ( )Tj ET 0.934 g 325.89 763.77 20.88 -22.32 re f BT 10.079 0 0 10.079 325.89 743.3701 Tm 0 g ( )Tj ET 0.934 g 347.01 763.77 7.92 -22.32 re f BT 10.079 0 0 10.079 347.01 743.3701 Tm 0 g ( )Tj ET 0.934 g 355.17 763.77 16.32 -22.32 re f BT 10.079 0 0 10.079 355.17 743.3701 Tm 0 g ( )Tj ET 0.934 g 371.73 763.77 4.8 -22.32 re f BT 10.079 0 0 10.079 371.73 743.3701 Tm 0 g ( )Tj ET 0.934 g 376.77 763.77 15.84 -22.32 re f BT 10.079 0 0 10.079 376.77 743.3701 Tm 0 g ( )Tj ET 0.934 g 392.85 763.77 3.12 -22.32 re f BT 10.079 0 0 10.079 392.85 743.3701 Tm 0 g ( )Tj ET 0.934 g 396.21 763.77 15.6 -22.32 re f BT 10.079 0 0 10.079 396.21 743.3701 Tm 0 g ( )Tj ET 0.934 g 412.05 763.77 12 -22.32 re f BT 10.079 0 0 10.079 412.05 743.3701 Tm 0 g ( )Tj ET 0.934 g 424.29 763.77 25.92 -22.32 re f BT 10.079 0 0 10.079 424.29 743.3701 Tm 0 g ( )Tj ET 0.934 g 450.45 763.77 12 -22.32 re f BT 10.079 0 0 10.079 450.45 743.3701 Tm 0 g ( )Tj ET 0.934 g 462.69 763.77 16.32 -22.32 re f BT 10.079 0 0 10.079 462.69 743.3701 Tm 0 g ( )Tj ET 0.934 g 479.25 763.77 7.92 -22.32 re f BT 10.079 0 0 10.079 479.25 743.3701 Tm 0 g ( )Tj ET 0.934 g 487.41 763.77 20.88 -22.32 re f BT 10.079 0 0 10.079 487.41 743.3701 Tm 0 g ( )Tj ET 0.934 g 508.53 763.77 7.92 -22.32 re f BT 10.079 0 0 10.079 508.53 743.3701 Tm 0 g ( )Tj -40.9563 -1.2144 TD 1.393 Tw [( Amount)-13819.1( )-309.6($)-833.5(3.5)-12.1( )833.4( $\(1.7)-12.5(\) )-642.9($)-1000.1(\(8.7)-12.5(\))-881.4( )-309.6($\(26.4)-12.6(\))]TJ ET 0.934 g 95.73 728.01 16.32 -11.04 re f BT 10.079 0 0 10.079 95.73 718.8901 Tm 0 g 0 Tw ( )Tj ET 0.934 g 112.29 728.01 16.32 -11.04 re f BT 10.079 0 0 10.079 112.29 718.8901 Tm 0 g ( )Tj ET 0.934 g 128.85 728.01 172.08 -11.04 re f BT 10.079 0 0 10.079 128.85 718.8901 Tm 0 g (Per share)Tj ET 0.934 g 301.17 728.01 16.32 -11.04 re f BT 10.079 0 0 10.079 301.17 718.8901 Tm 0 g ( )Tj ET 0.934 g 317.73 728.01 7.92 -11.04 re f BT 10.079 0 0 10.079 317.73 718.8901 Tm 0 g ( )Tj ET 0.934 g 325.89 728.01 20.88 -11.04 re f BT 10.079 0 0 10.079 334.29 718.8901 Tm 0 g (.34)Tj ET 0.934 g 347.01 728.01 7.92 -11.04 re f BT 10.079 0 0 10.079 347.01 718.8901 Tm 0 g ( )Tj ET 0.934 g 355.17 728.01 16.32 -11.04 re f BT 10.079 0 0 10.079 355.17 718.8901 Tm 0 g ( )Tj ET 0.934 g 371.73 728.01 4.8 -11.04 re f BT 10.079 0 0 10.079 374.13 718.8901 Tm 0 g ( )Tj ET 0.934 g 376.77 728.01 15.84 -11.04 re f BT 10.079 0 0 10.079 376.77 718.8901 Tm 0 g (\(.16)Tj ET 0.934 g 392.85 728.01 3.12 -11.04 re f BT 10.079 0 0 10.079 392.85 718.8901 Tm 0 g (\))Tj ET 0.934 g 396.21 728.01 15.6 -11.04 re f BT 10.079 0 0 10.079 396.21 718.8901 Tm 0 g ( )Tj ET 0.934 g 412.05 728.01 12 -11.04 re f BT 10.079 0 0 10.079 421.65 718.8901 Tm 0 g ( )Tj ET 0.934 g 424.29 728.01 25.92 -11.04 re f BT 10.079 0 0 10.079 434.37 718.8901 Tm 0 g (\(.86)Tj ET 0.934 g 450.45 728.01 12 -11.04 re f BT 10.079 0 0 10.079 450.45 718.8901 Tm 0 g (\))Tj ET 0.934 g 462.69 728.01 16.32 -11.04 re f BT 10.079 0 0 10.079 462.69 718.8901 Tm 0 g ( )Tj ET 0.934 g 479.25 728.01 7.92 -11.04 re f BT 10.079 0 0 10.079 484.77 718.8901 Tm 0 g ( )Tj ET 0.934 g 487.41 728.01 20.88 -11.04 re f BT 10.079 0 0 10.079 487.41 718.8901 Tm 0 g (\(2.61)Tj ET 0.934 g 508.53 728.01 7.92 -11.04 re f BT 10.079 0 0 10.079 508.53 718.8901 Tm 0 g (\))Tj -40.9563 -1.2144 TD 1.393 Tw [(Special )1393(item:)-15133.3( )833.4( )-452.4( )833.4( )1143( )47.6( )1309.6( )71.4( )428.6( )-952.5( )428.6( )833.4( )-452.4( )]TJ ET 0.934 g 95.73 703.53 16.32 -11.04 re f BT 10.079 0 0 10.079 95.73 694.41 Tm 0 g 0 Tw ( )Tj ET 0.934 g 112.29 703.53 16.32 -11.04 re f BT 10.079 0 0 10.079 112.29 694.41 Tm 0 g ( )Tj ET 0.934 g 128.85 703.53 172.08 -11.04 re f BT 10.079 0 0 10.079 128.85 694.41 Tm 0 g (Amount)Tj ET 0.934 g 301.17 703.53 16.32 -11.04 re f BT 10.079 0 0 10.079 301.17 694.41 Tm 0 g ( )Tj ET 0.934 g 317.73 703.53 7.92 -11.04 re f BT 10.079 0 0 10.079 323.25 694.41 Tm 0 g ( )Tj ET 0.934 g 325.89 703.53 20.88 -11.04 re f BT 10.079 0 0 10.079 325.89 694.41 Tm 0 g (\(95.7)Tj ET 0.934 g 347.01 703.53 7.92 -11.04 re f BT 10.079 0 0 10.079 347.01 694.41 Tm 0 g (\))Tj ET 0.934 g 355.17 703.53 16.32 -11.04 re f BT 10.079 0 0 10.079 355.17 694.41 Tm 0 g ( )Tj ET 0.934 g 371.73 703.53 4.8 -11.04 re f BT 10.079 0 0 10.079 371.73 694.41 Tm 0 g ( )Tj ET 0.934 g 376.77 703.53 15.84 -11.04 re f BT 10.079 0 0 10.079 376.77 694.41 Tm 0 g ( )Tj ET 0.934 g 392.85 703.53 3.12 -11.04 re f BT 10.079 0 0 10.079 392.85 694.41 Tm 0 g ( )Tj ET 0.934 g 396.21 703.53 15.6 -11.04 re f BT 10.079 0 0 10.079 396.21 694.41 Tm 0 g ( )Tj ET 0.934 g 412.05 703.53 12 -11.04 re f BT 10.079 0 0 10.079 421.65 694.41 Tm 0 g ( )Tj ET 0.934 g 424.29 703.53 25.92 -11.04 re f BT 10.079 0 0 10.079 429.33 694.41 Tm 0 g (\(95.7)Tj ET 0.934 g 450.45 703.53 12 -11.04 re f BT 10.079 0 0 10.079 450.45 694.41 Tm 0 g (\))Tj ET 0.934 g 462.69 703.53 16.32 -11.04 re f BT 10.079 0 0 10.079 462.69 694.41 Tm 0 g ( )Tj ET 0.934 g 479.25 703.53 7.92 -11.04 re f BT 10.079 0 0 10.079 479.25 694.41 Tm 0 g ( )Tj ET 0.934 g 487.41 703.53 20.88 -11.04 re f BT 10.079 0 0 10.079 487.41 694.41 Tm 0 g ( )Tj ET 0.934 g 508.53 703.53 7.92 -11.04 re f BT 10.079 0 0 10.079 508.53 694.41 Tm 0 g ( )Tj -40.9563 -1.2144 TD 1.393 Tw [( Per )1393(share)-13404.2( )-547.7( )1381.1(\(9.46)-12.6(\))-476.6( )1143( )47.6( )1309.6( )-881( )881(\(9.46)-12.6(\))-881.4( )833.4( )-452.4( )]TJ ET 0.934 g 95.73 679.05 205.2 -11.04 re f BT 10.079 0 0 10.079 95.73 669.9301 Tm 0 g 0 Tw (Cumulative effect of)Tj ET 0.934 g 301.17 679.05 16.32 -11.04 re f BT 10.079 0 0 10.079 301.17 669.9301 Tm 0 g ( )Tj ET 0.934 g 317.73 679.05 7.92 -11.04 re f BT 10.079 0 0 10.079 317.73 669.9301 Tm 0 g ( )Tj ET 0.934 g 325.89 679.05 20.88 -11.04 re f BT 10.079 0 0 10.079 325.89 669.9301 Tm 0 g ( )Tj ET 0.934 g 347.01 679.05 7.92 -11.04 re f BT 10.079 0 0 10.079 347.01 669.9301 Tm 0 g ( )Tj ET 0.934 g 355.17 679.05 16.32 -11.04 re f BT 10.079 0 0 10.079 355.17 669.9301 Tm 0 g ( )Tj ET 0.934 g 371.73 679.05 4.8 -11.04 re f BT 10.079 0 0 10.079 371.73 669.9301 Tm 0 g ( )Tj ET 0.934 g 376.77 679.05 15.84 -11.04 re f BT 10.079 0 0 10.079 376.77 669.9301 Tm 0 g ( )Tj ET 0.934 g 392.85 679.05 3.12 -11.04 re f BT 10.079 0 0 10.079 392.85 669.9301 Tm 0 g ( )Tj ET 0.934 g 396.21 679.05 15.6 -11.04 re f BT 10.079 0 0 10.079 396.21 669.9301 Tm 0 g ( )Tj ET 0.934 g 412.05 679.05 12 -11.04 re f BT 10.079 0 0 10.079 412.05 669.9301 Tm 0 g ( )Tj ET 0.934 g 424.29 679.05 25.92 -11.04 re f BT 10.079 0 0 10.079 424.29 669.9301 Tm 0 g ( )Tj ET 0.934 g 450.45 679.05 12 -11.04 re f BT 10.079 0 0 10.079 450.45 669.9301 Tm 0 g ( )Tj ET 0.934 g 462.69 679.05 16.32 -11.04 re f BT 10.079 0 0 10.079 462.69 669.9301 Tm 0 g ( )Tj ET 0.934 g 479.25 679.05 7.92 -11.04 re f BT 10.079 0 0 10.079 479.25 669.9301 Tm 0 g ( )Tj ET 0.934 g 487.41 679.05 20.88 -11.04 re f BT 10.079 0 0 10.079 487.41 669.9301 Tm 0 g ( )Tj ET 0.934 g 508.53 679.05 7.92 -11.04 re f BT 10.079 0 0 10.079 508.53 669.9301 Tm 0 g ( )Tj -40.9563 -1.2144 TD 1.393 Tw [( Accounting )1393(change:)-10714.6( )833.4( )-452.4( )833.4( )1143( )47.6( )1309.6( )71.4( )428.6( )-952.5( )428.6( )833.4( )-452.4( )]TJ ET 0.934 g 95.73 654.57 16.32 -11.04 re f BT 10.079 0 0 10.079 95.73 645.4501 Tm 0 g 0 Tw ( )Tj ET 0.934 g 112.29 654.57 16.32 -11.04 re f BT 10.079 0 0 10.079 112.29 645.4501 Tm 0 g ( )Tj ET 0.934 g 128.85 654.57 172.08 -11.04 re f BT 10.079 0 0 10.079 128.85 645.4501 Tm 0 g (Amount)Tj ET 0.934 g 301.17 654.57 16.32 -11.04 re f BT 10.079 0 0 10.079 301.17 645.4501 Tm 0 g ( )Tj ET 0.934 g 317.73 654.57 7.92 -11.04 re f BT 10.079 0 0 10.079 317.73 645.4501 Tm 0 g ( )Tj ET 0.934 g 325.89 654.57 20.88 -11.04 re f BT 10.079 0 0 10.079 325.89 645.4501 Tm 0 g ( )Tj ET 0.934 g 347.01 654.57 7.92 -11.04 re f BT 10.079 0 0 10.079 347.01 645.4501 Tm 0 g ( )Tj ET 0.934 g 355.17 654.57 16.32 -11.04 re f BT 10.079 0 0 10.079 355.17 645.4501 Tm 0 g ( )Tj ET 0.934 g 371.73 654.57 4.8 -11.04 re f BT 10.079 0 0 10.079 371.73 645.4501 Tm 0 g ( )Tj ET 0.934 g 376.77 654.57 15.84 -11.04 re f BT 10.079 0 0 10.079 376.77 645.4501 Tm 0 g ( )Tj ET 0.934 g 392.85 654.57 3.12 -11.04 re f BT 10.079 0 0 10.079 392.85 645.4501 Tm 0 g ( )Tj ET 0.934 g 396.21 654.57 15.6 -11.04 re f BT 10.079 0 0 10.079 396.21 645.4501 Tm 0 g ( )Tj ET 0.934 g 412.05 654.57 12 -11.04 re f BT 10.079 0 0 10.079 412.05 645.4501 Tm 0 g ( )Tj ET 0.934 g 424.29 654.57 25.92 -11.04 re f BT 10.079 0 0 10.079 424.29 645.4501 Tm 0 g ( )Tj ET 0.934 g 450.45 654.57 12 -11.04 re f BT 10.079 0 0 10.079 450.45 645.4501 Tm 0 g ( )Tj ET 0.934 g 462.69 654.57 16.32 -11.04 re f BT 10.079 0 0 10.079 462.69 645.4501 Tm 0 g ( )Tj ET 0.934 g 479.25 654.57 7.92 -11.04 re f BT 10.079 0 0 10.079 479.25 645.4501 Tm 0 g ( )Tj ET 0.934 g 487.41 654.57 20.88 -11.04 re f BT 10.079 0 0 10.079 495.81 645.4501 Tm 0 g (9.3)Tj ET 0.934 g 508.53 654.57 7.92 -11.04 re f BT 10.079 0 0 10.079 508.53 645.4501 Tm 0 g ( )Tj -40.9563 -1.2144 TD 1.393 Tw [( Per )1393(share)-13404.2( )833.4( )-452.4( )833.4( )1143( )47.6( )1309.6( )71.4( )428.6( )-952.5( )428.6( .92)-12.1( )]TJ 0 -1.1192 TD 20.1329 Tc 0 Tw [( )18739.9( )]TJ ET 0.5 g 325.89 625.77 20.88 -0.48 re f BT 10.079 0 0 10.079 347.01 621.9301 Tm 0 g 0.5596 Tc [( )-833.4( )]TJ ET 0.5 g 376.77 625.77 15.84 -0.48 re f BT 10.079 0 0 10.079 392.85 621.9301 Tm 0 g 0.0834 Tc [( )-1238.2( )]TJ ET 0.5 g 424.29 625.77 25.92 -0.48 re f BT 10.079 0 0 10.079 450.45 621.9301 Tm 0 g 0.9644 Tc [( )-428.6( )]TJ ET 0.5 g 487.41 625.77 20.88 -0.48 re f BT 10.079 0 0 10.079 508.53 621.9301 Tm 0 g 0 Tc ( )Tj ET 0.934 g 95.73 619.77 205.2 -11.04 re f BT 10.079 0 0 10.079 95.73 610.6501 Tm 0 g (Net loss:)Tj ET 0.934 g 301.17 619.77 16.32 -11.04 re f BT 10.079 0 0 10.079 301.17 610.6501 Tm 0 g ( )Tj ET 0.934 g 317.73 619.77 7.92 -11.04 re f BT 10.079 0 0 10.079 317.73 610.6501 Tm 0 g ( )Tj ET 0.934 g 325.89 619.77 20.88 -11.04 re f BT 10.079 0 0 10.079 325.89 610.6501 Tm 0 g ( )Tj ET 0.934 g 347.01 619.77 7.92 -11.04 re f BT 10.079 0 0 10.079 347.01 610.6501 Tm 0 g ( )Tj ET 0.934 g 355.17 619.77 16.32 -11.04 re f BT 10.079 0 0 10.079 355.17 610.6501 Tm 0 g ( )Tj ET 0.934 g 371.73 619.77 4.8 -11.04 re f BT 10.079 0 0 10.079 371.73 610.6501 Tm 0 g ( )Tj ET 0.934 g 376.77 619.77 15.84 -11.04 re f BT 10.079 0 0 10.079 376.77 610.6501 Tm 0 g ( )Tj ET 0.934 g 392.85 619.77 3.12 -11.04 re f BT 10.079 0 0 10.079 392.85 610.6501 Tm 0 g ( )Tj ET 0.934 g 396.21 619.77 15.6 -11.04 re f BT 10.079 0 0 10.079 396.21 610.6501 Tm 0 g ( )Tj ET 0.934 g 412.05 619.77 12 -11.04 re f BT 10.079 0 0 10.079 412.05 610.6501 Tm 0 g ( )Tj ET 0.934 g 424.29 619.77 25.92 -11.04 re f BT 10.079 0 0 10.079 424.29 610.6501 Tm 0 g ( )Tj ET 0.934 g 450.45 619.77 12 -11.04 re f BT 10.079 0 0 10.079 450.45 610.6501 Tm 0 g ( )Tj ET 0.934 g 462.69 619.77 16.32 -11.04 re f BT 10.079 0 0 10.079 462.69 610.6501 Tm 0 g ( )Tj ET 0.934 g 479.25 619.77 7.92 -11.04 re f BT 10.079 0 0 10.079 479.25 610.6501 Tm 0 g ( )Tj ET 0.934 g 487.41 619.77 20.88 -11.04 re f BT 10.079 0 0 10.079 487.41 610.6501 Tm 0 g ( )Tj ET 0.934 g 508.53 619.77 7.92 -11.04 re f BT 10.079 0 0 10.079 508.53 610.6501 Tm 0 g ( )Tj -40.9563 -1.2144 TD 1.393 Tw [( Amount)-13819.1( )-309.6($\(92.2)-12.6(\))-476.6( $\(1.7)-12.5(\) )-642.9($\(104.4)-12.7(\))-881.4( )-309.6($\(17.1)-12.6(\))]TJ ET 0.934 g 95.73 595.29 16.32 -11.04 re f BT 10.079 0 0 10.079 95.73 586.17 Tm 0 g 0 Tw ( )Tj ET 0.934 g 112.29 595.29 16.32 -11.04 re f BT 10.079 0 0 10.079 112.29 586.17 Tm 0 g ( )Tj ET 0.934 g 128.85 595.29 172.08 -11.04 re f BT 10.079 0 0 10.079 128.85 586.17 Tm 0 g (Per share)Tj ET 0.934 g 301.17 595.29 16.32 -11.04 re f BT 10.079 0 0 10.079 301.17 586.17 Tm 0 g ( )Tj ET 0.934 g 317.73 595.29 7.92 -11.04 re f BT 10.079 0 0 10.079 320.85 586.17 Tm 0 g ($)Tj ET 0.934 g 325.89 595.29 20.88 -11.04 re f BT 10.079 0 0 10.079 325.89 586.17 Tm 0 g (\(9.12)Tj ET 0.934 g 347.01 595.29 7.92 -11.04 re f BT 10.079 0 0 10.079 347.01 586.17 Tm 0 g (\))Tj ET 0.934 g 355.17 595.29 16.32 -11.04 re f BT 10.079 0 0 10.079 355.17 586.17 Tm 0 g ( )Tj ET 0.934 g 371.73 595.29 4.8 -11.04 re f BT 10.079 0 0 10.079 371.73 586.17 Tm 0 g ($)Tj ET 0.934 g 376.77 595.29 15.84 -11.04 re f BT 10.079 0 0 10.079 376.77 586.17 Tm 0 g (\(.16)Tj ET 0.934 g 392.85 595.29 3.12 -11.04 re f BT 10.079 0 0 10.079 392.85 586.17 Tm 0 g (\))Tj ET 0.934 g 396.21 595.29 15.6 -11.04 re f BT 10.079 0 0 10.079 396.21 586.17 Tm 0 g ( )Tj ET 0.934 g 412.05 595.29 12 -11.04 re f BT 10.079 0 0 10.079 419.25 586.17 Tm 0 g ($)Tj ET 0.934 g 424.29 595.29 25.92 -11.04 re f BT 10.079 0 0 10.079 424.29 586.17 Tm 0 g (\(10.32)Tj ET 0.934 g 450.45 595.29 12 -11.04 re f BT 10.079 0 0 10.079 450.45 586.17 Tm 0 g (\))Tj ET 0.934 g 462.69 595.29 16.32 -11.04 re f BT 10.079 0 0 10.079 462.69 586.17 Tm 0 g ( )Tj ET 0.934 g 479.25 595.29 7.92 -11.04 re f BT 10.079 0 0 10.079 482.37 586.17 Tm 0 g ($)Tj ET 0.934 g 487.41 595.29 20.88 -11.04 re f BT 10.079 0 0 10.079 487.41 586.17 Tm 0 g (\(1.69)Tj ET 0.934 g 508.53 595.29 7.92 -11.04 re f BT 10.079 0 0 10.079 508.53 586.17 Tm 0 g (\))Tj /F4 1 Tf -47.9093 -2.5241 TD (Third Quarter)Tj /F12 1 Tf 0 -2.5479 TD ( Income before income taxes, excluding the special item and minority interest, for the third quarter of 2002 was $4.7 milli)Tj 49.7385 0 TD (on, an )Tj -49.7385 -1.1192 TD (improvement of $8.7 million from the third quarter of 2001. The improvement in pre-tax results was mainly due to higher pellet )Tj 51.4623 0 TD (sales )Tj -51.4623 -1.1192 TD (and production volume, lower CAL losses and recovery on two insurance claims, partially offset by lower royalty and management )Tj 52.8472 0 TD (fee )Tj -52.8472 -1.1192 TD (income, increased corporate expense and higher business development expenses. )Tj 27.3359 -2.6907 TD (12)Tj ET endstreamendobj37 0 obj<< /Type /Page /Parent 101 0 R /Resources 38 0 R /Contents 39 0 R /MediaBox [ 0 0 612 1008 ] /CropBox [ 0 0 612 1008 ] /Rotate 0 >> endobj38 0 obj<< /ProcSet [ /PDF /Text ] /Font << /F2 120 0 R /F4 93 0 R /F12 91 0 R /F13 92 0 R >> /ExtGState << /GS1 124 0 R >> >> endobj39 0 obj<< /Length 13266 >> stream 1 g /GS1 gs 1 i 18.21 989.85 575.76 -666.96 re f BT /F12 1 Tf 12 0 0 12 25.65 979.05 Tm 0 g 0 Tc 0 Tw ( )Tj 10.079 0 0 10.079 25.65 953.13 Tm ( Following is a summary of the pellet sales margin: )Tj 12 0 0 12 151.89 940.17 Tm 0.55 Tc [( )40( )-10760( )-1100( )-260( )-1100( )-260( )-200( )-680( )]TJ 7.439 0 0 7.439 151.89 930.0901 Tm 1.0405 Tc [( )64.5( )-17357.1( )-1774.4( )-419.4( )]TJ /F13 1 Tf 28.8424 0.0323 TD 0 Tc (\(In Millions\))Tj /F12 1 Tf 5.7427 -0.0323 TD 1.0405 Tc [( )-322.6( )-1096.9( )]TJ -34.5851 -1.226 TD 0.976 Tc [( )-17421.6( )]TJ /F13 1 Tf 28.1649 0.0323 TD 0 Tc (Third Quarter)Tj /F12 1 Tf -28.1649 -1.1614 TD 0.976 Tc [( )-17421.6( )]TJ ET 0.5 g 309.33 913.29 150.96 -0.48 re f BT 7.439 0 0 7.439 151.89 903.4501 Tm 0 g [( )-17421.6( )]TJ /F13 1 Tf 23.1643 0.0323 TD 0 Tc (2002)Tj /F12 1 Tf 4.065 -0.0323 TD ( )Tj /F13 1 Tf 3.2907 0.0323 TD (2001)Tj /F12 1 Tf 4.065 -0.0323 TD ( )Tj /F13 1 Tf 2.2584 0.0323 TD (Increase)Tj /F12 1 Tf -36.8435 -1.1614 TD 0.976 Tc [( )-17421.6( )]TJ ET 0.5 g 309.33 895.77 44.88 -0.48 re f BT 7.439 0 0 7.439 354.45 895.05 Tm 0 g 0 Tc ( )Tj ET 0.5 g 364.05 895.77 44.88 -0.48 re f BT 7.439 0 0 7.439 409.17 895.05 Tm 0 g ( )Tj ET 0.5 g 418.77 895.77 41.52 -0.48 re f 0.934 g 151.89 893.37 147.6 -11.04 re f BT 10.079 0 0 10.079 151.89 884.25 Tm 0 g (Sales \(tons\))Tj ET 0.934 g 299.73 893.37 9.36 -11.04 re f BT 10.079 0 0 10.079 299.73 884.25 Tm 0 g ( )Tj ET 0.934 g 309.33 893.37 9.36 -11.04 re f BT 10.079 0 0 10.079 309.33 884.25 Tm 0 g ( )Tj ET 0.934 g 318.93 893.37 22.56 -11.04 re f BT 10.079 0 0 10.079 329.01 884.25 Tm 0 g (5.0)Tj ET 0.934 g 341.73 893.37 12.48 -11.04 re f BT 10.079 0 0 10.079 341.73 884.25 Tm 0 g ( )Tj ET 0.934 g 354.45 893.37 9.36 -11.04 re f BT 10.079 0 0 10.079 354.45 884.25 Tm 0 g ( )Tj ET 0.934 g 364.05 893.37 9.36 -11.04 re f BT 10.079 0 0 10.079 364.05 884.25 Tm 0 g ( )Tj ET 0.934 g 373.65 893.37 22.56 -11.04 re f BT 10.079 0 0 10.079 383.73 884.25 Tm 0 g (2.9)Tj ET 0.934 g 396.45 893.37 12.48 -11.04 re f BT 10.079 0 0 10.079 396.45 884.25 Tm 0 g ( )Tj ET 0.934 g 409.17 893.37 9.36 -11.04 re f BT 10.079 0 0 10.079 409.17 884.25 Tm 0 g ( )Tj ET 0.934 g 418.77 893.37 11.76 -11.04 re f BT 10.079 0 0 10.079 418.77 884.25 Tm 0 g ( )Tj ET 0.934 g 430.77 893.37 17.52 -11.04 re f BT 10.079 0 0 10.079 435.81 884.25 Tm 0 g (2.1)Tj ET 0.934 g 448.53 893.37 11.76 -11.04 re f BT 10.079 0 0 10.079 448.53 884.25 Tm 0 g ( )Tj -29.4314 -1.1191 TD 14.4181 Tc [( )13715.6( )]TJ ET 0.5 g 318.93 878.01 22.56 -2.88 re f BT 10.079 0 0 10.079 341.73 872.97 Tm 0 g 1.012 Tc [( )309.5( )]TJ ET 0.5 g 373.65 878.01 22.56 -2.88 re f BT 10.079 0 0 10.079 396.45 872.97 Tm 0 g [( )309.5( )]TJ ET 0.5 g 430.77 878.01 17.52 -2.88 re f BT 10.079 0 0 10.079 448.53 872.97 Tm 0 g 0 Tc ( )Tj -29.4314 -1.1192 TD (Revenue from product sales and )Tj 0.7382 -1.1192 TD 1.1549 Tw [(services*)-10209.2( $170.8)-12.3( )142.9( $103.5)-12.3( )142.9( )-238.1($67.3)-12.2( )]TJ ET 0.934 g 151.89 847.29 147.6 -22.32 re f BT 10.079 0 0 10.079 151.89 838.17 Tm 0 g 0 Tw (Cost of goods sold and operating )Tj 0.7382 -1.1192 TD (expenses*)Tj ET 0.934 g 299.73 847.29 9.36 -22.32 re f BT 10.079 0 0 10.079 299.73 826.89 Tm 0 g ( )Tj ET 0.934 g 309.33 847.29 9.36 -22.32 re f BT 10.079 0 0 10.079 309.33 826.89 Tm 0 g ( )Tj ET 0.934 g 318.93 847.29 22.56 -22.32 re f BT 10.079 0 0 10.079 318.93 826.89 Tm 0 g (164.8)Tj ET 0.934 g 341.73 847.29 12.48 -22.32 re f BT 10.079 0 0 10.079 341.73 826.89 Tm 0 g ( )Tj ET 0.934 g 354.45 847.29 9.36 -22.32 re f BT 10.079 0 0 10.079 354.45 826.89 Tm 0 g ( )Tj ET 0.934 g 364.05 847.29 9.36 -22.32 re f BT 10.079 0 0 10.079 364.05 826.89 Tm 0 g ( )Tj ET 0.934 g 373.65 847.29 22.56 -22.32 re f BT 10.079 0 0 10.079 373.65 826.89 Tm 0 g (106.4)Tj ET 0.934 g 396.45 847.29 12.48 -22.32 re f BT 10.079 0 0 10.079 396.45 826.89 Tm 0 g ( )Tj ET 0.934 g 409.17 847.29 9.36 -22.32 re f BT 10.079 0 0 10.079 409.17 826.89 Tm 0 g ( )Tj ET 0.934 g 418.77 847.29 11.76 -22.32 re f BT 10.079 0 0 10.079 418.77 826.89 Tm 0 g ( )Tj ET 0.934 g 430.77 847.29 17.52 -22.32 re f BT 10.079 0 0 10.079 430.77 826.89 Tm 0 g (58.4)Tj ET 0.934 g 448.53 847.29 11.76 -22.32 re f BT 10.079 0 0 10.079 448.53 826.89 Tm 0 g ( )Tj -29.4314 -1.1191 TD 14.4181 Tc [( )13715.6( )]TJ ET 0.5 g 318.93 819.45 22.56 -0.48 re f BT 10.079 0 0 10.079 341.73 815.61 Tm 0 g 1.012 Tc [( )309.5( )]TJ ET 0.5 g 373.65 819.45 22.56 -0.48 re f BT 10.079 0 0 10.079 396.45 815.61 Tm 0 g [( )309.5( )]TJ ET 0.5 g 430.77 819.45 17.52 -0.48 re f BT 10.079 0 0 10.079 448.53 815.61 Tm 0 g 0 Tc ( )Tj -29.4314 -1.1192 TD [( )-654.8(Sales margin \(loss\))-6097.9( )-1154.9($)-1000.1(6.0)-12.1( )-1012( )-1154.9($)-666.8(\(2.9)-12.5(\))-929( )-1393($)-500.1(8.9)-12.1( )]TJ T* 14.4181 Tc [( )13715.6( )]TJ ET 0.5 g 318.93 798.09 22.56 -2.88 re f BT 10.079 0 0 10.079 341.73 793.05 Tm 0 g 1.012 Tc [( )309.5( )]TJ ET 0.5 g 373.65 798.09 22.56 -2.88 re f BT 10.079 0 0 10.079 396.45 793.05 Tm 0 g [( )309.5( )]TJ ET 0.5 g 430.77 798.09 17.52 -2.88 re f BT 10.079 0 0 10.079 448.53 793.05 Tm 0 g 0 Tc ( )Tj 12 0 0 12 151.89 780.09 Tm 1.81 Tc [( )780( )]TJ 10.079 0 0 10.079 151.89 768.3301 Tm 0 Tc (*)Tj 2.4526 -1.1192 TD ( )Tj 1.524 1.1192 TD (Excludes revenues and cost of )Tj ET q 191.97 777.45 268.56 -11.28 re W* n BT 10.079 0 0 10.079 316.5154 768.3301 Tm (g)Tj ET Q BT 10.079 0 0 10.079 321.5545 768.3301 Tm (oods sold and o)Tj ET q 191.97 777.45 268.56 -11.28 re W* n BT 10.079 0 0 10.079 384.5428 768.3301 Tm (p)Tj ET Q BT 10.079 0 0 10.079 389.5818 768.3301 Tm (eratin)Tj ET q 191.97 777.45 268.56 -11.28 re W* n BT 10.079 0 0 10.079 412.5298 768.3301 Tm (g)Tj ET Q BT 10.079 0 0 10.079 417.5688 768.3301 Tm ( ex)Tj ET q 191.97 777.45 268.56 -11.28 re W* n BT 10.079 0 0 10.079 429.6021 768.3301 Tm (p)Tj ET Q BT 10.079 0 0 10.079 434.6412 768.3301 Tm (enses )Tj -24.0768 -1.1192 TD (related to freight and minority interest)Tj -16.5016 -2.524 TD (Included in the third quarter of 2002 cost of goods sold and operating expense was approximately $4 million of fixed costs rela)Tj 50.8494 0 TD (ted to )Tj -50.8494 -1.1191 TD (production curtailments compared to $10 million in the same quarter last year. )Tj /F4 1 Tf 0 -2.5241 TD -0.0001 Tc 0.0001 Tw (Nine Months)Tj /F12 1 Tf 0 -2.5479 TD 0 Tc 0 Tw ( The loss before income taxes, excluding the special item and minority interest, for the first nine months of 2002 was $21.)Tj 49.7675 0 TD (7 million, an )Tj -49.7675 -1.1192 TD (improvement of $21.9 million from the comparable 2001 period. The improvement was primarily due to: )Tj 0 -2.5241 TD ( )Tj /F2 1 Tf 1.6906 0 TD ()Tj /F12 1 Tf 0.5477 0 TD [( )-1416.8(An improved pellet sales margin, mainly reflecting higher sales and production volume, summarized as follows:)]TJ 12 0 0 12 151.89 619.53 Tm 0.59 Tc [( )20( )-10020( )-1060( )-260( )-1060( )-520( )-1060( )]TJ 7.439 0 0 7.439 151.89 609.4501 Tm 1.105 Tc [( )32.2( )-16163.4( )-1709.9( )]TJ /F13 1 Tf 28.1327 0.0323 TD 0 Tc (\(In Millions\))Tj /F12 1 Tf 6.2266 -0.0323 TD 1.105 Tc [( )-1709.9( )]TJ -34.3593 -1.226 TD 1.0728 Tc [( )-16195.6( )]TJ /F13 1 Tf 26.9067 0.0323 TD 0 Tc (First Nine Months)Tj /F12 1 Tf -26.9067 -1.1614 TD 1.0728 Tc [( )-16195.6( )]TJ ET 0.5 g 302.13 592.65 158.16 -0.48 re f BT 7.439 0 0 7.439 151.89 582.8101 Tm 0 g [( )-16195.6( )]TJ /F13 1 Tf 22.0351 0.0323 TD 0 Tc (2002)Tj /F12 1 Tf 3.936 -0.0323 TD ( )Tj /F13 1 Tf 3.8392 0.0323 TD (2001)Tj /F12 1 Tf 4.549 -0.0323 TD ( )Tj /F13 1 Tf 2.4197 0.0323 TD (Increase)Tj /F12 1 Tf -36.7789 -1.1614 TD 1.0728 Tc [( )-16195.6( )]TJ ET 0.5 g 302.13 575.13 42.72 -0.48 re f BT 7.439 0 0 7.439 345.09 574.41 Tm 0 g 0 Tc ( )Tj ET 0.5 g 355.17 575.13 52.08 -0.48 re f BT 7.439 0 0 7.439 407.49 574.41 Tm 0 g ( )Tj ET 0.5 g 417.57 575.13 42.72 -0.48 re f 0.934 g 151.89 572.73 139.92 -11.04 re f BT 10.079 0 0 10.079 151.89 563.61 Tm 0 g (Sales \(tons\))Tj ET 0.934 g 292.05 572.73 9.84 -11.04 re f BT 10.079 0 0 10.079 292.05 563.61 Tm 0 g ( )Tj ET 0.934 g 302.13 572.73 9.84 -11.04 re f BT 10.079 0 0 10.079 302.13 563.61 Tm 0 g ( )Tj ET 0.934 g 312.21 572.73 22.56 -11.04 re f BT 10.079 0 0 10.079 317.25 563.61 Tm 0 g (10.2)Tj ET 0.934 g 335.01 572.73 9.84 -11.04 re f BT 10.079 0 0 10.079 335.01 563.61 Tm 0 g ( )Tj ET 0.934 g 345.09 572.73 9.84 -11.04 re f BT 10.079 0 0 10.079 345.09 563.61 Tm 0 g ( )Tj ET 0.934 g 355.17 572.73 12.96 -11.04 re f BT 10.079 0 0 10.079 355.17 563.61 Tm 0 g ( )Tj ET 0.934 g 368.37 572.73 22.56 -11.04 re f BT 10.079 0 0 10.079 378.45 563.61 Tm 0 g (5.7)Tj ET 0.934 g 391.17 572.73 16.08 -11.04 re f BT 10.079 0 0 10.079 391.17 563.61 Tm 0 g ( )Tj ET 0.934 g 407.49 572.73 9.84 -11.04 re f BT 10.079 0 0 10.079 407.49 563.61 Tm 0 g ( )Tj ET 0.934 g 417.57 572.73 9.84 -11.04 re f BT 10.079 0 0 10.079 417.57 563.61 Tm 0 g ( )Tj ET 0.934 g 427.65 572.73 22.56 -11.04 re f BT 10.079 0 0 10.079 437.73 563.61 Tm 0 g (4.5)Tj ET 0.934 g 450.45 572.73 9.84 -11.04 re f BT 10.079 0 0 10.079 450.45 563.61 Tm 0 g ( )Tj -29.6219 -1.1192 TD 13.6561 Tc [( )12906( )]TJ ET 0.5 g 312.21 557.37 22.56 -2.88 re f BT 10.079 0 0 10.079 335.01 552.3301 Tm 0 g 0.7501 Tc ( )Tj ET 0.5 g 368.37 557.37 22.56 -2.88 re f BT 10.079 0 0 10.079 391.17 552.3301 Tm 0 g 1.3692 Tc [( )619.1( )]TJ ET 0.5 g 427.65 557.37 22.56 -2.88 re f BT 10.079 0 0 10.079 450.45 552.3301 Tm 0 g 0 Tc ( )Tj -29.6219 -1.1192 TD (Revenue from product sales and )Tj 0.7382 -1.1192 TD 1.2501 Tw [(services*)-9447.2( $354.6)-12.3( )500( )-309.6($203.5)-12.3( )-119.1( $151.1)-12.3( )]TJ ET 0.934 g 151.89 526.65 139.92 -22.32 re f BT 10.079 0 0 10.079 151.89 517.53 Tm 0 g 0 Tw (Cost of goods sold and operating )Tj 0.7382 -1.1192 TD (expenses*)Tj ET 0.934 g 292.05 526.65 9.84 -22.32 re f BT 10.079 0 0 10.079 292.05 506.2501 Tm 0 g ( )Tj ET 0.934 g 302.13 526.65 9.84 -22.32 re f BT 10.079 0 0 10.079 302.13 506.2501 Tm 0 g ( )Tj ET 0.934 g 312.21 526.65 22.56 -22.32 re f BT 10.079 0 0 10.079 312.21 506.2501 Tm 0 g (363.9)Tj ET 0.934 g 335.01 526.65 9.84 -22.32 re f BT 10.079 0 0 10.079 335.01 506.2501 Tm 0 g ( )Tj ET 0.934 g 345.09 526.65 9.84 -22.32 re f BT 10.079 0 0 10.079 345.09 506.2501 Tm 0 g ( )Tj ET 0.934 g 355.17 526.65 12.96 -22.32 re f BT 10.079 0 0 10.079 355.17 506.2501 Tm 0 g ( )Tj ET 0.934 g 368.37 526.65 22.56 -22.32 re f BT 10.079 0 0 10.079 368.37 506.2501 Tm 0 g (259.5)Tj ET 0.934 g 391.17 526.65 16.08 -22.32 re f BT 10.079 0 0 10.079 391.17 506.2501 Tm 0 g ( )Tj ET 0.934 g 407.49 526.65 9.84 -22.32 re f BT 10.079 0 0 10.079 407.49 506.2501 Tm 0 g ( )Tj ET 0.934 g 417.57 526.65 9.84 -22.32 re f BT 10.079 0 0 10.079 417.57 506.2501 Tm 0 g ( )Tj ET 0.934 g 427.65 526.65 22.56 -22.32 re f BT 10.079 0 0 10.079 427.65 506.2501 Tm 0 g (104.4)Tj ET 0.934 g 450.45 526.65 9.84 -22.32 re f BT 10.079 0 0 10.079 450.45 506.2501 Tm 0 g ( )Tj -29.6219 -1.1192 TD 13.6561 Tc [( )12906( )]TJ ET 0.5 g 312.21 498.81 22.56 -0.48 re f BT 10.079 0 0 10.079 335.01 494.9701 Tm 0 g 0.7501 Tc ( )Tj ET 0.5 g 368.37 498.81 22.56 -0.48 re f BT 10.079 0 0 10.079 391.17 494.9701 Tm 0 g 1.3692 Tc [( )619.1( )]TJ ET 0.5 g 427.65 498.81 22.56 -0.48 re f BT 10.079 0 0 10.079 450.45 494.9701 Tm 0 g 0 Tc ( )Tj -29.6219 -1.1192 TD [( )-726.3(Sales margin \(loss\))-5264.5( )-1250.1($)-666.8(\(9.3)-12.5(\))-667.1( )-1559.7($)-166.7(\(56.0)-12.6(\))-1286.2( )-1250.1($)-500.1(46.7)-12.2( )]TJ T* 13.6561 Tc [( )12906( )]TJ ET 0.5 g 312.21 477.45 22.56 -2.88 re f BT 10.079 0 0 10.079 335.01 472.4101 Tm 0 g 0.7501 Tc ( )Tj ET 0.5 g 368.37 477.45 22.56 -2.88 re f BT 10.079 0 0 10.079 391.17 472.4101 Tm 0 g 1.3692 Tc [( )619.1( )]TJ ET 0.5 g 427.65 477.45 22.56 -2.88 re f BT 10.079 0 0 10.079 450.45 472.4101 Tm 0 g 0 Tc ( )Tj 12 0 0 12 151.89 459.4501 Tm 1.81 Tc [( )780( )]TJ 10.079 0 0 10.079 151.89 447.6901 Tm 0 Tc (*)Tj 2.4526 -1.1192 TD ( )Tj 1.524 1.1192 TD (Excludes revenues and cost of )Tj ET q 191.97 456.81 268.56 -11.28 re W* n BT 10.079 0 0 10.079 316.5154 447.6901 Tm (g)Tj ET Q BT 10.079 0 0 10.079 321.5545 447.6901 Tm (oods sold and o)Tj ET q 191.97 456.81 268.56 -11.28 re W* n BT 10.079 0 0 10.079 384.5428 447.6901 Tm (p)Tj ET Q BT 10.079 0 0 10.079 389.5818 447.6901 Tm (eratin)Tj ET q 191.97 456.81 268.56 -11.28 re W* n BT 10.079 0 0 10.079 412.5298 447.6901 Tm (g)Tj ET Q BT 10.079 0 0 10.079 417.5688 447.6901 Tm ( ex)Tj ET q 191.97 456.81 268.56 -11.28 re W* n BT 10.079 0 0 10.079 429.6021 447.6901 Tm (p)Tj ET Q BT 10.079 0 0 10.079 434.6412 447.6901 Tm (enses )Tj -24.0768 -1.1192 TD (related to freight and minority interest)Tj 12 0 0 12 64.77 423.4501 Tm ( )Tj 10.079 0 0 10.079 64.77 411.6901 Tm (Included in 2002 cost of goods sold and operating expenses was approximately $21 million of fixed costs related to )Tj T* (production curtailments versus $35 million in 2001.)Tj -3.8813 -2.524 TD ( )Tj /F2 1 Tf 1.6906 0 TD ()Tj /F12 1 Tf 0.5477 0 TD [( )-1416.8(Royalties and management fees from partners decreased $14.5 million from last year mainly due to reduced production at )]TJ 1.6668 -1.1192 TD (Empire Mine in 2002, and the Company)Tj /F2 1 Tf 16.1365 0 TD ()Tj /F12 1 Tf 0.333 0 TD (s increased ownership in Tilden Mine in 2002. Also, royalties and fees paid by the )Tj -16.4695 -1.1191 TD (Company as a partner in the mines, which )Tj 23.4308 -2.6907 TD (13)Tj ET endstreamendobj40 0 obj<< /Type /Page /Parent 101 0 R /Resources 41 0 R /Contents 42 0 R /MediaBox [ 0 0 612 1008 ] /CropBox [ 0 0 612 1008 ] /Rotate 0 >> endobj41 0 obj<< /ProcSet [ /PDF /Text ] /Font << /F2 120 0 R /F4 93 0 R /F12 91 0 R >> /ExtGState << /GS1 124 0 R >> >> endobj42 0 obj<< /Length 4212 >> stream 1 g /GS1 gs 1 i 18.21 989.85 575.76 -450.24 re f BT /F12 1 Tf 12 0 0 12 25.65 979.05 Tm 0 g 0 Tc 0 Tw ( )Tj 10.079 0 0 10.079 25.65 953.13 Tm [( )-1440.6( )-297.7( )-1416.8(were previously reported in both revenues and cost of goods sold and operating expenses, have been eliminated. As a result, )]TJ 3.9051 -1.1191 TD (third quarter and first nine months 2001 revenues from royalties and management fees and cost of goods sold have been )Tj T* (restated and reduced by $4.5 million and $8.6 million, respectively. This had no impact on financial results.)Tj -3.9051 -1.1192 TD ( )Tj T* ( )Tj /F2 1 Tf 1.6906 0 TD ()Tj /F12 1 Tf 0.5477 0 TD [( )-1416.8(The loss from CAL was $9.4 million, or $7.4 million, net of minority interest, in the first nine months of 2002 compared to a )]TJ 1.6668 -1.1191 TD (loss of $18.4 million, or $14.6 million, net of minority interest, in the first nine months of 2001. The $9.0 million improveme)Tj 50.0525 0 TD (nt )Tj -50.0525 -1.1192 TD (for 2002 reflects idling the facility in late 2001 and cost reduction efforts including an approximate 30 percent reduction in )Tj T* (employees and fixed cost concessions from critical suppliers.)Tj -3.9051 -1.1192 TD ( )Tj T* ( )Tj /F2 1 Tf 1.6906 0 TD ()Tj /F12 1 Tf 0.5477 0 TD [( )-1416.8(Administrative, selling and general expenses were $4.1 million higher in the first nine months of 2002 compared to the same )]TJ 1.6668 -1.1192 TD (period in 2001, primarily due to higher pension and medical expense, and the impact of the Company)Tj /F2 1 Tf 40.6023 0 TD ()Tj /F12 1 Tf 0.333 0 TD (s stock price on certain )Tj -40.9353 -1.1192 TD (incentive compensation plans.)Tj -3.9051 -1.1192 TD ( )Tj T* ( )Tj /F2 1 Tf 1.6906 0 TD ()Tj /F12 1 Tf 0.5477 0 TD [( )-1416.8(Other income in 2002 of $11.7 million was $3.3 million greater than 2001 due primarily to recoveries on two insurance claims, )]TJ 1.6668 -1.1192 TD ($3.5 million.)Tj -3.9051 -1.1192 TD ( )Tj T* ( )Tj /F2 1 Tf 1.6906 0 TD ()Tj /F12 1 Tf 0.5477 0 TD [( )-1416.8(Other expenses in 2002 were $.3 million lower than 2001. Higher business development expenditures in 2002 primarily related )]TJ 1.6668 -1.1192 TD (to the Mesabi Nugget project, were more than offset by a $2.5 million pre-tax charge for restructuring activities in 2001.)Tj -3.9051 -1.1192 TD ( )Tj T* ( )Tj /F2 1 Tf 1.6906 0 TD ()Tj /F12 1 Tf 0.5477 0 TD [( )-1416.8(Lower interest expense in 2002 was due to lower interest rates partially offset by higher average borrowings under the )]TJ 1.6668 -1.1192 TD (revolving credit facility. The increase in interest income reflected higher cash balances.)Tj -3.9051 -2.524 TD ( In the third quarter, the Company recorded a $95.7 million impairment charge, net of minority interest, relating to its in)Tj 48.9906 0 TD (vestment in )Tj -48.9906 -1.1192 TD (CAL. However, the deferred tax benefit resulting from this transaction was offset by a $33.5 million deferred tax valuation all)Tj 50.4304 0 TD (owance )Tj -50.4304 -1.1192 TD (when it could not be objectively determined that the resultant increase in the Company)Tj /F2 1 Tf 34.6869 0 TD ()Tj /F12 1 Tf 0.333 0 TD (s net deferred tax assets could be utilized. )Tj -35.0198 -2.524 TD ( Included in the second quarter and first nine months of 2002 was a $4.4 million favorable income tax adjustment. The adjus)Tj 50.7944 0 TD (tment )Tj -50.7944 -1.1192 TD (reflects the Company)Tj /F2 1 Tf 8.5532 0 TD ()Tj /F12 1 Tf 0.333 0 TD (s assessment of its tax obligations and expected outcome of certain audit issues relating to prior tax years. )Tj /F4 1 Tf -8.8862 -2.524 TD -0.0001 Tc 0.0001 Tw (IRON ORE)Tj /F12 1 Tf 0 -2.5479 TD 0 Tc 0 Tw ( Iron ore pellet production at the Company)Tj /F2 1 Tf 18.0794 0 TD ()Tj /F12 1 Tf 0.333 0 TD (s managed mines increased to 7.5 million tons in the third quarter of 2002 from 6.4 million )Tj -18.4123 -1.1192 TD (tons in 2001. The Company)Tj /F2 1 Tf 11.138 0 TD ()Tj /F12 1 Tf 0.333 0 TD (s share of third quarter production of 4.2 million tons was 2.0 million tons above last year. Total production )Tj -11.471 -1.1192 TD (in the first nine months of 2002 was 19.5 million tons versus 19.8 )Tj 27.3359 -2.6907 TD (14)Tj ET endstreamendobj43 0 obj<< /Type /Page /Parent 101 0 R /Resources 44 0 R /Contents 45 0 R /MediaBox [ 0 0 612 1008 ] /CropBox [ 0 0 612 1008 ] /Rotate 0 >> endobj44 0 obj<< /ProcSet [ /PDF /Text ] /Font << /F2 120 0 R /F12 91 0 R >> /ExtGState << /GS1 124 0 R >> >> endobj45 0 obj<< /Length 5429 >> stream 1 g /GS1 gs 1 i 18.21 989.85 575.76 -452.88 re f BT /F12 1 Tf 12 0 0 12 25.65 979.05 Tm 0 g 0 Tc 0 Tw ( )Tj 10.079 0 0 10.079 25.65 953.13 Tm (million tons in first nine months of 2001. The Company)Tj /F2 1 Tf 22.388 0 TD ()Tj /F12 1 Tf 0.333 0 TD (s share of production for the first nine months was 10.5 million tons, a )Tj -22.7209 -1.1191 TD (3.7 million ton increase from the first nine months of 2001. Production for the full year is expected to exceed 27 million tons)Tj 49.9355 0 TD (, with the )Tj -49.9355 -1.1192 TD (Company)Tj /F2 1 Tf 3.8886 0 TD ()Tj /F12 1 Tf 0.333 0 TD (s share to be about 14.7 million tons. )Tj -4.2216 -2.5241 TD ( The Empire Mine, which was idled in the fourth quarter 2001, resumed production in April 2002. Empire was temporarily idle)Tj 51.9053 0 TD (d in )Tj -51.9053 -1.1191 TD (July to complete planned maintenance and vacation scheduling. There are no production curtailments currently scheduled for the )Tj T* (remainder of the year at any of the Company)Tj /F2 1 Tf 17.9384 0 TD ()Tj /F12 1 Tf 0.333 0 TD (s managed mines; however, production schedules at all mines are subject to change. )Tj -18.2713 -2.5241 TD ( The significant increases in the Company)Tj /F2 1 Tf 17.8294 0 TD ()Tj /F12 1 Tf 0.333 0 TD (s share of production are mainly due to the Company)Tj /F2 1 Tf 21.2451 0 TD ()Tj /F12 1 Tf 0.333 0 TD (s increased ownership and higher )Tj -39.7404 -1.1191 TD (production at the Tilden Mine in 2002. Partly offsetting was a decrease in pellet production from Empire. In July 2002, the Com)Tj 51.3233 0 TD (pany )Tj -51.3233 -1.1191 TD (acquired an additional 8 percent interest in the Hibbing Mine from Bethlehem Steel Corporation for the assumption of net mine )Tj T* (liabilities, which are netted in )Tj /F2 1 Tf 12.1089 0 TD ()Tj /F12 1 Tf 0.444 0 TD (Investment in associated iron ore ventures.)Tj /F2 1 Tf 17.1064 0 TD ()Tj /F12 1 Tf 0.444 0 TD ( The acquisition increases the Company)Tj /F2 1 Tf 15.9686 0 TD ()Tj /F12 1 Tf 0.333 0 TD (s ownership of )Tj -46.4048 -1.1192 TD (Hibbing from 15 percent to 23 percent, and its share of the mine)Tj /F2 1 Tf 25.6877 0 TD ()Tj /F12 1 Tf 0.333 0 TD (s annual capacity by .6 million tons. )Tj -26.0206 -2.524 TD ( On January 31, 2002, the Company acquired a 45 percent ownership interest in the Tilden Mine from Algoma Steel Inc. \()Tj /F2 1 Tf 49.8765 0 TD ()Tj /F12 1 Tf 0.444 0 TD (Algoma)Tj /F2 1 Tf 3.2217 0 TD ()Tj /F12 1 Tf 0.444 0 TD (\) )Tj -53.9861 -1.1192 TD (for the assumption of Tilden liabilities of approximately $14 million. The acquisition increased the Company)Tj /F2 1 Tf 43.688 0 TD ()Tj /F12 1 Tf 0.333 0 TD (s ownership in the mine to )Tj -44.021 -1.1192 TD (85 percent, and annual production capacity by 3.5 million tons to 6.6 million tons. Concurrently, a sales agreement was execute)Tj 51.0444 0 TD (d that )Tj -51.0444 -1.1192 TD (made the Company the sole supplier of iron ore pellets purchased by Algoma for a 15-year period. Sales to Algoma are expected t)Tj 52.0683 0 TD (o be )Tj -52.0683 -1.1191 TD (about 3 million tons in 2002. )Tj 0 -2.5241 TD ( On March 5, 2002, a subsidiary of LTV Corporation \()Tj /F2 1 Tf 22.8279 0 TD ()Tj /F12 1 Tf 0.444 0 TD -0.0001 Tc (LTV)Tj /F2 1 Tf 1.9438 0 TD 0 Tc ()Tj /F12 1 Tf 0.444 0 TD (\) rejected its 25 percent interest in the Empire Mine. Previously, LTV )Tj -25.6597 -1.1191 TD (filed for protection under Chapter 11 of the U.S. Bankruptcy Code on December 29, 2000, and in November 2001, discontinued meet)Tj 53.4592 0 TD (ing )Tj -53.4592 -1.1192 TD (its Empire obligations. Ispat Inland Inc. \()Tj /F2 1 Tf 16.4415 0 TD ()Tj /F12 1 Tf 0.444 0 TD (Ispat)Tj /F2 1 Tf 1.9438 0 TD ()Tj /F12 1 Tf 0.444 0 TD (\) and the Company are funding total fixed obligations in proportion to their 40 percent )Tj -19.2733 -1.1192 TD (and 35 percent respective ownerships. The Company and Ispat are currently discussing the future of the mine. The Empire Mine ha)Tj 52.5402 0 TD (s been )Tj -52.5402 -1.1192 TD (operating since earlier this year under an interim agreement between the Company and Ispat which terminates at the end of 2002.)Tj 51.7343 0 TD ( The )Tj -51.7343 -1.1192 TD (mine is expected to produce nearly 3.7 million tons of pellets this year. )Tj 0 -2.524 TD ( The Company periodically conducts formal evaluations of its iron ore reserves at all mining locations, which includes the )Tj 50.1005 0 TD (effect of )Tj -50.1005 -1.1192 TD (changes in the cost of producing pellets from the respective ore reserves. In the case of Empire, the impact of any change in c)Tj 50.1775 0 TD (ost is )Tj -50.1775 -1.1192 TD (particularly significant. Various mine planning studies are underway to determine the economic mine life at Empire. The studies)Tj 51.4043 0 TD ( have )Tj -51.4043 -1.1192 TD (not yet been completed, but could result in a shortened mine life at Empire, which combined with rising costs, may require an )Tj T* (impairment charge for all or some portion of the Company)Tj /F2 1 Tf 23.4669 0 TD ()Tj /F12 1 Tf 0.333 0 TD (s investment in Empire. If the Company were to take an impairment charge )Tj -23.7998 -1.1191 TD (for its entire investment in the mine, the potential impact would be in the $40 million to $50 million range. These charges ass)Tj 50.1035 0 TD (ume the )Tj -50.1035 -1.1192 TD (continued operation of the mine; there would be )Tj 27.3359 -2.6907 TD (15)Tj ET endstreamendobj46 0 obj<< /Type /Page /Parent 101 0 R /Resources 47 0 R /Contents 48 0 R /MediaBox [ 0 0 612 1008 ] /CropBox [ 0 0 612 1008 ] /Rotate 0 >> endobj47 0 obj<< /ProcSet [ /PDF /Text ] /Font << /F2 120 0 R /F4 93 0 R /F12 91 0 R >> /ExtGState << /GS1 124 0 R >> >> endobj48 0 obj<< /Length 5394 >> stream 1 g /GS1 gs 1 i 18.21 989.85 575.76 -483.6 re f BT /F12 1 Tf 12 0 0 12 25.65 979.05 Tm 0 g 0 Tc 0 Tw ( )Tj 10.079 0 0 10.079 25.65 953.13 Tm (substantial additional costs associated with closure of the mine. The Company does not currently expect closure to occur in the)Tj 50.7664 0 TD ( near )Tj -50.7664 -1.1191 TD (term. )Tj 0 -2.524 TD ( In April 2002, the Company signed a long-term agreement to supply iron ore pellets to International Steel Group Inc. \()Tj /F2 1 Tf 48.7116 0 TD ()Tj /F12 1 Tf 0.444 0 TD (ISG)Tj /F2 1 Tf 1.6109 0 TD ()Tj /F12 1 Tf 0.444 0 TD (\), which )Tj -51.2104 -1.1192 TD (had purchased the principal steel making and finishing assets of LTV. The Company became the sole supplier of pellets purchased)Tj 52.2643 0 TD ( by )Tj -52.2643 -1.1191 TD (ISG for a 15-year period beginning in 2002. Pellet sales to ISG in 2002 are expected to exceed 2 million tons. Sales over the r)Tj 50.3214 0 TD (emainder )Tj -50.3214 -1.1191 TD (of the contract term will depend on ISG)Tj /F2 1 Tf 15.9126 0 TD ()Tj /F12 1 Tf 0.333 0 TD (s pellet requirements, which are currently expected to exceed 6 million tons in 2003. The )Tj -16.2455 -1.1192 TD (Company invested $13.0 million in the second quarter and $4.4 million in the third quarter in ISG common stock, representing )Tj T* (approximately 7 percent of ISG)Tj /F2 1 Tf 12.6629 0 TD ()Tj /F12 1 Tf 0.333 0 TD (s equity. The investment is being accounted for under the )Tj /F2 1 Tf 23.1889 0 TD ()Tj /F12 1 Tf 0.444 0 TD (cost method)Tj /F2 1 Tf 4.8606 0 TD ()Tj /F12 1 Tf 0.444 0 TD ( and is included in )Tj /F2 1 Tf 7.5823 0 TD ()Tj /F12 1 Tf 0.444 0 TD (Other )Tj -49.9595 -1.1191 TD (investments.)Tj /F2 1 Tf 5.0275 0 TD ()Tj /F12 1 Tf 0.444 0 TD ( )Tj -5.4715 -2.524 TD ( In July 2002, the Company amended its iron ore pellet sales agreement with Rouge Industries, Inc. \()Tj /F2 1 Tf 41.3243 0 TD ()Tj /F12 1 Tf 0.444 0 TD (Rouge)Tj /F2 1 Tf 2.6108 0 TD ()Tj /F12 1 Tf 0.444 0 TD (\), which amendment )Tj -44.8229 -1.1192 TD (provides that the Company will be the sole supplier of iron ore pellets to Rouge. Sales to Rouge, which were less than 1 millio)Tj 50.5754 0 TD (n tons in )Tj -50.5754 -1.1191 TD (2001, are expected to approximate 1.4 million tons in 2002. Rouge is expected to purchase in excess of 3 million tons per year )Tj 50.8224 0 TD (beginning )Tj -50.8224 -1.1191 TD (in 2003, and has annual minimum obligations through 2007. The Company has also loaned $10 million to Rouge in the third quarter)Tj 52.9662 0 TD (, on )Tj -52.9662 -1.1192 TD (a secured basis, with final maturity in 2007. )Tj 0 -2.524 TD ( Pellet sales in the third quarter of 2002 were 5.0 million tons compared to 2.9 million tons in 2001. Pellet sales in the )Tj 48.2996 0 TD (first nine )Tj -48.2996 -1.1191 TD (months of 2002 were 10.2 million tons, a 4.5 million ton increase from the first nine months of 2001. While there continues to )Tj 50.7424 0 TD (be )Tj -50.7424 -1.1192 TD (uncertainty regarding the pellet requirements of customers, sales volume for 2002 is currently forecasted to be about 15 millio)Tj 50.4594 0 TD (n tons. )Tj -50.4594 -2.524 TD ( The Company)Tj /F2 1 Tf 6.9434 0 TD ()Tj /F12 1 Tf 0.333 0 TD (s share of capital expenditures at the five mining ventures and supporting operations is expected to approximate )Tj -7.2763 -1.1192 TD ($16 million in 2002, with $8.8 million having occurred through September 30, 2002. )Tj 0 -2.524 TD ( The taconite iron ore industry has been identified by the U.S. Environmental Protection Agency \()Tj /F2 1 Tf 40.1854 0 TD ()Tj /F12 1 Tf 0.444 0 TD -0.0001 Tc (EPA)Tj /F2 1 Tf 1.8888 0 TD 0 Tc ()Tj /F12 1 Tf 0.444 0 TD (\) as an industrial category )Tj -42.9621 -1.1192 TD (that emits pollutants established by the 1990 Clean Air Act Amendments. These pollutants included over 200 substances that are )Tj 51.7683 0 TD (now )Tj -51.7683 -1.1191 TD (classified as hazardous air pollutants \(HAPs\). The EPA is required to develop rules that would require major sources of HAP to )Tj 51.3203 0 TD (utilize )Tj -51.3203 -1.1192 TD (Maximum Achievable Control Technology \()Tj /F2 1 Tf 17.8854 0 TD ()Tj /F12 1 Tf 0.444 0 TD -0.0001 Tc (MACT)Tj /F2 1 Tf 2.8887 0 TD 0 Tc ()Tj /F12 1 Tf 0.444 0 TD (\) standards for their emissions. The EPA is scheduled to publish a Proposal Rule in )Tj -21.662 -1.1192 TD (November 2002, a Final Rule in November 2003, and require compliance by 2006. The projected costs to the Company, including )Tj T* (capital expenditures, to meet the proposed MACT standards, as currently drafted, could be in excess of $20 million. )Tj /F4 1 Tf 0 -2.5241 TD -0.0001 Tc 0.0001 Tw (FERROUS METALLICS)Tj /F12 1 Tf 0 -2.5479 TD 0 Tc 0 Tw ( The Company has an 82 percent ownership interest in CAL a hot-briquetted iron \()Tj /F2 1 Tf 34.1029 0 TD ()Tj /F12 1 Tf 0.444 0 TD -0.0001 Tc (HBI)Tj /F2 1 Tf 1.7218 0 TD 0 Tc ()Tj /F12 1 Tf 0.444 0 TD (\) operation located in Trinidad. CAL)Tj /F2 1 Tf 14.7187 0 TD ()Tj /F12 1 Tf 0.333 0 TD (s )Tj -51.7643 -1.1191 TD (operations which were idled in late 2001, remained idle during the first nine months of 2002. The Company)Tj /F2 1 Tf 43.1301 0 TD ()Tj /F12 1 Tf 0.333 0 TD (s share of idle costs on a )Tj -43.4631 -1.2858 TD (pre-tax basis was $2.7 million in the third quarter and $7.4 million in the first nine)Tj 27.3359 -2.7384 TD (16)Tj ET endstreamendobj49 0 obj<< /Type /Page /Parent 101 0 R /Resources 50 0 R /Contents 51 0 R /MediaBox [ 0 0 612 1008 ] /CropBox [ 0 0 612 1008 ] /Rotate 0 >> endobj50 0 obj<< /ProcSet [ /PDF /Text ] /Font << /F2 120 0 R /F4 93 0 R /F12 91 0 R >> /ExtGState << /GS1 124 0 R >> >> endobj51 0 obj<< /Length 4653 >> stream 1 g /GS1 gs 1 i 18.21 989.85 575.76 -470.16 re f BT /F12 1 Tf 12 0 0 12 25.65 979.05 Tm 0 g 0 Tc 0 Tw ( )Tj 10.079 0 0 10.079 25.65 953.13 Tm (months of 2002, compared to losses of $4.7 million and $14.6 million in the third quarter and first nine months of 2001 respect)Tj 50.7984 0 TD (ively. )Tj -50.7984 -2.524 TD ( Due to the current uncertainties concerning the HBI market, operating costs and volume, and startup timing, the Company ha)Tj 51.3213 0 TD (s )Tj -51.3213 -1.1192 TD (determined, in accordance with SFAS No. 144, that its investment in CAL is impaired. The Company concluded, based on an )Tj T* (undiscounted probability-weighted analysis, that future cash flows are not expected to exceed the carrying value of the assets )Tj 50.2904 0 TD (and as )Tj -50.2904 -1.1191 TD (required by current accounting standards must be written down to fair value. As a result, in the third quarter 2002, the Compan)Tj 50.7094 0 TD (y recorded )Tj -50.7094 -1.1191 TD (an impairment charge of $95.7 million net of minority interest, equal to its investment in the long-lived assets of CAL. )Tj 0 -2.5241 TD ( No decision has been made to permanently discontinue operations at CAL. The Company continues to evaluate operating plans )Tj 52.4882 0 TD (that )Tj -52.4882 -1.1191 TD (would enable CAL to resume operations. Permanent closure of the facility could result in additional contractual obligations not)Tj 50.8784 0 TD ( presently )Tj -50.8784 -1.1191 TD (expected to exceed $30 million and current asset writedowns of up to $10 million. )Tj 0 -2.5241 TD ( On April 4, 2002, the Company signed an agreement to participate in Phase II of the Mesabi Nugget Project. Other participa)Tj 50.9874 0 TD (nts )Tj -50.9874 -1.1192 TD (include Kobe Steel, Ltd., Steel Dynamics, Inc., Ferrometrics, Inc. and the State of Minnesota. A $24 million pilot plant is bei)Tj 50.0195 0 TD (ng )Tj -50.0195 -1.1191 TD (constructed at the Company)Tj /F2 1 Tf 11.192 0 TD ()Tj /F12 1 Tf 0.333 0 TD (s Northshore Mine to test and develop Kobe Steel)Tj /F2 1 Tf 19.9402 0 TD ()Tj /F12 1 Tf 0.333 0 TD (s technology for converting iron ore into nearly pure iron )Tj -31.7981 -1.1192 TD (in nugget form. The Company)Tj /F2 1 Tf 12.1369 0 TD ()Tj /F12 1 Tf 0.333 0 TD (s contribution to the project through the pilot plant testing and development phase, will be $4.5 million, )Tj -12.4699 -1.1192 TD (primarily contributions of in-kind facilities and services. If the pilot plant is successful, construction of a commercial size)Tj 48.5726 0 TD ( facility capable )Tj -48.5726 -1.1192 TD (of producing 300,000 tons annually could start as early as 2004. )Tj /F4 1 Tf 0 -2.524 TD -0.0001 Tc 0.0001 Tw (CASH FLOW, LIQUIDITY AND CAPITAL RESOURCES)Tj /F12 1 Tf 0 -2.5479 TD 0 Tc 0 Tw ( At September 30, 2002, the Company had cash and cash equivalents of $185.5 million compared to $183.8 million at December )Tj 52.7952 0 TD (31, )Tj -52.7952 -1.1192 TD (2001. The increase of $1.7 million was primarily due to higher payables and accrued expenses, $31.2 million, a federal tax refu)Tj 50.9574 0 TD (nd, )Tj -50.9574 -1.1192 TD ($11.6 million, cash flow from operations before changes in operating assets and liabilities, $7.9 million, and proceeds from sa)Tj 50.3504 0 TD (les of non-)Tj -50.3504 -1.1191 TD (strategic assets, $6.7 million, partially offset by investments in steel companies equity and debt, $27.4 million, higher iron )Tj 49.1045 0 TD (ore pellet )Tj -49.1045 -1.1192 TD (inventories, $14.3 million, capital expenditures, $8.8 million, and investment in a power-related joint venture, $6.0 million. )Tj 0 -2.524 TD ( At the end of September, there were 3.5 million tons of pellets in inventory at a cost of $99.0 million, an increase of .5)Tj 48.6286 0 TD ( million tons, )Tj -48.6286 -1.1191 TD (from December 31, 2001, reflecting an increasing trend to consignment inventory at steel customer plants. Pellet inventory at )Tj T* (September 30, 2001 was 4.5 million tons, or $126 million. )Tj 0 -2.524 TD ( Long-term debt of the Company consists of $70 million of senior unsecured notes, which bear a fixed interest rate of 7.0 p)Tj 50.2104 0 TD (ercent and )Tj -50.2104 -1.1192 TD (are scheduled to be repaid on December 15, 2005. The fair value of the long-term debt at September 30, 2002, was estimated at )Tj T* ($69.8 million based on a discounted cash flow analysis. The note agreement requires the Company to meet certain covenants relat)Tj 52.0143 0 TD (ed to )Tj -52.0143 -1.1191 TD (net worth, leverage and other provisions. The Company was in compliance with the debt )Tj 27.3359 -2.6907 TD (17)Tj ET endstreamendobj52 0 obj<< /Type /Page /Parent 101 0 R /Resources 53 0 R /Contents 54 0 R /MediaBox [ 0 0 612 1008 ] /CropBox [ 0 0 612 1008 ] /Rotate 0 >> endobj53 0 obj<< /ProcSet [ /PDF /Text ] /Font << /F2 120 0 R /F4 93 0 R /F12 91 0 R /F13 92 0 R >> /ExtGState << /GS1 124 0 R >> >> endobj54 0 obj<< /Length 7506 >> stream 1 g /GS1 gs 1 i 18.21 989.85 575.76 -504.24 re f BT /F12 1 Tf 12 0 0 12 25.65 979.05 Tm 0 g 0 Tc 0 Tw ( )Tj 10.079 0 0 10.079 25.65 953.13 Tm (covenants at September 30, 2002. However, as announced on October 7, 2002, the Company expects a significant fourth quarter 200)Tj 53.0962 0 TD (2 )Tj -53.0962 -1.1191 TD (non-cash charge to equity relating to the minimum pension liability. Once the minimum liability is recorded, the Company will n)Tj 51.6323 0 TD (eed to )Tj -51.6323 -1.1192 TD (negotiate a waiver of one of the financial covenants, if that covenant has not been amended before year-end. The Company expect)Tj 52.0923 0 TD (s to be )Tj -52.0923 -1.1192 TD (able to achieve a satisfactory resolution of the anticipated violation with the noteholders prior to that time. If the Company )Tj 49.2395 0 TD (cannot reach )Tj -49.2395 -1.1192 TD (agreement with its existing senior noteholders with respect to a covenant amendment or waiver or secure alternative sources of )Tj 51.0124 0 TD (liquidity, )Tj -51.0124 -1.1191 TD (including asset sales or other financing, to retire the senior notes, the Company could be forced to seek protection under bank)Tj 50.1535 0 TD (ruptcy laws. )Tj -50.1535 -2.5241 TD ( At September 30, 2002, the Company had $100 million outstanding on its revolving credit facility. Subsequently, the Compan)Tj 51.7723 0 TD (y repaid )Tj -51.7723 -1.1192 TD (the loan and terminated the agreement. )Tj 0 -2.524 TD ( Anticipated cash flows and current financial resources are expected to meet the Company)Tj /F2 1 Tf 37.0706 0 TD ()Tj /F12 1 Tf 0.333 0 TD (s anticipated seasonal needs. )Tj -37.4036 -2.5241 TD ( Following is a summary of common shares outstanding: )Tj 12 0 0 12 123.81 796.17 Tm 1.43 Tc [( )-5780( )1220( )-2120( )1220( )-2120( )-20( )1200( )-20( )-2120( )]TJ 7.439 0 0 7.439 123.81 786.09 Tm 11.7838 Tc ( )Tj /F13 1 Tf 17.5184 0.0323 TD 0 Tc (2002)Tj /F12 1 Tf 6.8073 -0.0323 TD ( )Tj /F13 1 Tf 5.4846 0.0323 TD (2001)Tj /F12 1 Tf 6.8396 -0.0323 TD ( )Tj /F13 1 Tf 5.5491 0.0323 TD (2000)Tj /F12 1 Tf -42.199 -1.1614 TD 11.7838 Tc ( )Tj ET 0.5 g 218.85 778.41 85.68 -0.48 re f BT 7.439 0 0 7.439 304.77 777.6901 Tm 0 g 0 Tc ( )Tj ET 0.5 g 310.29 778.41 85.92 -0.48 re f BT 7.439 0 0 7.439 396.45 777.6901 Tm 0 g ( )Tj ET 0.5 g 402.21 778.41 86.16 -0.48 re f 0.934 g 123.81 776.01 89.28 -11.04 re f BT 10.079 0 0 10.079 123.81 766.89 Tm 0 g (March 31)Tj ET 0.934 g 213.33 776.01 5.28 -11.04 re f BT 10.079 0 0 10.079 213.33 766.89 Tm 0 g ( )Tj ET 0.934 g 218.85 776.01 19.92 -11.04 re f BT 10.079 0 0 10.079 218.85 766.89 Tm 0 g ( )Tj ET 0.934 g 239.01 776.01 45.36 -11.04 re f BT 10.079 0 0 10.079 239.01 766.89 Tm 0 g (10,180,849)Tj ET 0.934 g 284.61 776.01 19.92 -11.04 re f BT 10.079 0 0 10.079 284.61 766.89 Tm 0 g ( )Tj ET 0.934 g 304.77 776.01 5.28 -11.04 re f BT 10.079 0 0 10.079 304.77 766.89 Tm 0 g ( )Tj ET 0.934 g 310.29 776.01 19.92 -11.04 re f BT 10.079 0 0 10.079 310.29 766.89 Tm 0 g ( )Tj ET 0.934 g 330.45 776.01 45.36 -11.04 re f BT 10.079 0 0 10.079 330.45 766.89 Tm 0 g (10,143,272)Tj ET 0.934 g 376.05 776.01 20.16 -11.04 re f BT 10.079 0 0 10.079 376.05 766.89 Tm 0 g ( )Tj ET 0.934 g 396.45 776.01 5.52 -11.04 re f BT 10.079 0 0 10.079 396.45 766.89 Tm 0 g ( )Tj ET 0.934 g 402.21 776.01 20.16 -11.04 re f BT 10.079 0 0 10.079 402.21 766.89 Tm 0 g ( )Tj ET 0.934 g 422.61 776.01 45.36 -11.04 re f BT 10.079 0 0 10.079 422.61 766.89 Tm 0 g (10,714,796)Tj ET 0.934 g 468.21 776.01 20.16 -11.04 re f BT 10.079 0 0 10.079 468.21 766.89 Tm 0 g ( )Tj -34.1699 -1.2144 TD 1.7502 Tw [(June )1750.2(30)-5799( )1452.5( 10,184,846)-24.6( )1452.5( 10,148,939)-24.6( )-23.8( )1428.7( )-23.8(10,502,367)-24.6( )]TJ ET 0.934 g 123.81 751.53 89.28 -11.04 re f BT 10.079 0 0 10.079 123.81 742.41 Tm 0 g 0 Tw (September 30)Tj ET 0.934 g 213.33 751.53 5.28 -11.04 re f BT 10.079 0 0 10.079 213.33 742.41 Tm 0 g ( )Tj ET 0.934 g 218.85 751.53 19.92 -11.04 re f BT 10.079 0 0 10.079 218.85 742.41 Tm 0 g ( )Tj ET 0.934 g 239.01 751.53 45.36 -11.04 re f BT 10.079 0 0 10.079 239.01 742.41 Tm 0 g (10,185,083)Tj ET 0.934 g 284.61 751.53 19.92 -11.04 re f BT 10.079 0 0 10.079 284.61 742.41 Tm 0 g ( )Tj ET 0.934 g 304.77 751.53 5.28 -11.04 re f BT 10.079 0 0 10.079 304.77 742.41 Tm 0 g ( )Tj ET 0.934 g 310.29 751.53 19.92 -11.04 re f BT 10.079 0 0 10.079 310.29 742.41 Tm 0 g ( )Tj ET 0.934 g 330.45 751.53 45.36 -11.04 re f BT 10.079 0 0 10.079 330.45 742.41 Tm 0 g (10,143,509)Tj ET 0.934 g 376.05 751.53 20.16 -11.04 re f BT 10.079 0 0 10.079 376.05 742.41 Tm 0 g ( )Tj ET 0.934 g 396.45 751.53 5.52 -11.04 re f BT 10.079 0 0 10.079 396.45 742.41 Tm 0 g ( )Tj ET 0.934 g 402.21 751.53 20.16 -11.04 re f BT 10.079 0 0 10.079 402.21 742.41 Tm 0 g ( )Tj ET 0.934 g 422.61 751.53 45.36 -11.04 re f BT 10.079 0 0 10.079 422.61 742.41 Tm 0 g (10,292,356)Tj ET 0.934 g 468.21 751.53 20.16 -11.04 re f BT 10.079 0 0 10.079 468.21 742.41 Tm 0 g ( )Tj -34.1699 -1.2144 TD 1.7502 Tw [(December )1750.2(31)-3523.2( )1452.5( )-2524( )1452.5( 10,141,953)-24.6( )-23.8( )1428.7( )-23.8(10,119,402)-24.6( )]TJ /F4 1 Tf -9.739 -2.524 TD -0.0001 Tc 0.0001 Tw (INSURANCE RECOVERIES)Tj /F12 1 Tf 0 -2.5479 TD 0 Tc 0 Tw ( In August 2002, the Company recognized a $1.8 million pre-tax insurance recovery on its 1999 business interruption claim r)Tj 51.0724 0 TD (elating to )Tj -51.0724 -1.1191 TD (the loss of more than one million tons of pellet sales to Rouge as a result of an explosion at the power plant that supplied Ro)Tj 49.6865 0 TD (uge. The )Tj -49.6865 -1.1192 TD (receipt finalizes this claim, resulting in a total recovery of $17.5 million, of which $15.3 million occurred in 2000 and $.4 m)Tj 49.6575 0 TD (illion in )Tj -49.6575 -1.1191 TD (2001. Additionally, in September 2002, the Company entered into a Settlement and Release Agreement with an insurance provider )Tj T* (covering certain environmental sites. As a result of the settlement, the Company recorded a $1.7 million pre-tax credit to inco)Tj 50.2654 0 TD (me. )Tj /F4 1 Tf -50.2654 -2.5241 TD -0.0001 Tc 0.0001 Tw (PENSIONS AND OTHER POSTRETIREMENT BENEFITS)Tj /F12 1 Tf 0 -2.5479 TD 0 Tc 0 Tw ( The Company and its ventures sponsor defined benefit pension plans covering substantially all employees. These plans are l)Tj 50.9054 0 TD (argely )Tj -50.9054 -1.1192 TD (noncontributory, and benefits are generally based on employees)Tj /F2 1 Tf 25.5477 0 TD ()Tj /F12 1 Tf 0.333 0 TD ( years of service and average earnings for a defined period prior to )Tj -25.8807 -1.1191 TD (retirement. The Company has been reviewing its return on assets and discount rate assumptions for the defined benefit plans in )Tj 51.0154 0 TD (light of )Tj -51.0154 -1.1192 TD (current conditions in the financial markets. Due to the sharp decline in the value of the equity holdings of its various pensio)Tj 49.3785 0 TD (n trusts, )Tj -49.3785 -1.1192 TD (lower interest rates utilized in discounting liabilities, and the Company)Tj /F2 1 Tf 28.3294 0 TD ()Tj /F12 1 Tf 0.333 0 TD (s increased ownership in mines, the Company expects that it will )Tj -28.6624 -1.1192 TD (be required, in accordance with SFAS 87, )Tj /F2 1 Tf 16.9675 0 TD ()Tj /F12 1 Tf 0.444 0 TD (Employer)Tj /F2 1 Tf 3.9436 0 TD ()Tj /F12 1 Tf 0.333 0 TD (s Accounting for Pensions)Tj /F2 1 Tf 10.526 0 TD ()Tj /F12 1 Tf 0.444 0 TD (, to record an additional minimum pension liability. )Tj -32.658 -1.1192 TD (Based on current values and assumptions, the )Tj 27.3359 -2.6907 TD (18)Tj ET endstreamendobj55 0 obj<< /Type /Page /Parent 101 0 R /Resources 56 0 R /Contents 57 0 R /MediaBox [ 0 0 612 1008 ] /CropBox [ 0 0 612 1008 ] /Rotate 0 >> endobj56 0 obj<< /ProcSet [ /PDF /Text ] /Font << /F4 93 0 R /F12 91 0 R /F13 92 0 R >> /ExtGState << /GS1 124 0 R >> >> endobj57 0 obj<< /Length 8279 >> stream 1 g /GS1 gs 1 i 18.21 989.85 575.76 -559.68 re f BT /F12 1 Tf 12 0 0 12 25.65 979.05 Tm 0 g 0 Tc 0 Tw ( )Tj 10.079 0 0 10.079 25.65 953.13 Tm (Company expects to record a required additional minimum pension liability of $125 million to $150 million, an intangible asset )Tj 51.3833 0 TD (of about )Tj -51.3833 -1.1191 TD ($25 million, and a charge to equity of $100 million to $125 million. Actual return on plan assets for 2002 and changes in the c)Tj 50.4914 0 TD (alculated )Tj -50.4914 -1.1192 TD (liability due to assumed discount rate could materially impact these amounts. This charge does not affect pension funding requi)Tj 50.9614 0 TD (rements )Tj -50.9614 -1.1192 TD (in the near-term. )Tj 0 -2.524 TD ( Following is a summary of pension funding and expense for years 2001, expected 2002 and estimated 2003 for the Company and)Tj 52.9882 0 TD ( its )Tj -52.9882 -1.1191 TD (share of plans of its ventures: )Tj 12 0 0 12 151.89 869.61 Tm 8.97 Tc [( )8240( )6940( )8160( )6680( )8220( )5640( )7740( )]TJ 7.439 0 0 7.439 151.89 859.53 Tm 14.6229 Tc ( )Tj /F13 1 Tf 27.2938 0.0323 TD 0 Tc (Pension)Tj /F12 1 Tf -27.2938 -1.2582 TD 14.6229 Tc ( )Tj /F13 1 Tf 26.2614 0.0323 TD 0 Tc (\(In Millions\))Tj /F12 1 Tf -26.2614 -1.1614 TD 14.6229 Tc ( )Tj ET 0.5 g 274.29 842.73 186 -0.48 re f BT 7.439 0 0 7.439 151.89 832.89 Tm 0 g ( )Tj /F13 1 Tf 19.3896 0.0323 TD 0 Tc (Funding)Tj /F12 1 Tf 6.5492 -0.0323 TD ( )Tj /F13 1 Tf 6.7751 0.0323 TD (Expense)Tj /F12 1 Tf -32.7139 -1.1614 TD 14.6229 Tc ( )Tj ET 0.5 g 274.29 825.21 70.32 -0.48 re f BT 7.439 0 0 7.439 344.85 824.4901 Tm 0 g 0 Tc ( )Tj ET 0.5 g 356.85 825.21 103.44 -0.48 re f 0.934 g 151.89 822.81 110.4 -11.04 re f BT 10.079 0 0 10.079 151.89 813.6901 Tm 0 g (2001)Tj ET 0.934 g 262.53 822.81 11.52 -11.04 re f BT 10.079 0 0 10.079 262.53 813.6901 Tm 0 g ( )Tj ET 0.934 g 274.29 822.81 27.12 -11.04 re f BT 10.079 0 0 10.079 296.61 813.6901 Tm 0 g ($)Tj ET 0.934 g 301.65 822.81 12.48 -11.04 re f BT 10.079 0 0 10.079 306.69 813.6901 Tm 0 g (.4)Tj ET 0.934 g 314.37 822.81 30.24 -11.04 re f BT 10.079 0 0 10.079 314.37 813.6901 Tm 0 g ( )Tj ET 0.934 g 344.85 822.81 11.76 -11.04 re f BT 10.079 0 0 10.079 344.85 813.6901 Tm 0 g ( )Tj ET 0.934 g 356.85 822.81 42.72 -11.04 re f BT 10.079 0 0 10.079 394.77 813.6901 Tm 0 g ($)Tj ET 0.934 g 399.81 822.81 17.52 -11.04 re f BT 10.079 0 0 10.079 404.85 813.6901 Tm 0 g (4.4)Tj ET 0.934 g 417.57 822.81 42.72 -11.04 re f BT 10.079 0 0 10.079 417.57 813.6901 Tm 0 g ( )Tj -26.3597 -1.2144 TD 0.9168 Tw [(2002)-8977.4( )-1547.7(1.1)-12.1( )-1857.3( )-23.8( )-3595.6(7.4)-12.1( )]TJ ET 0.934 g 151.89 798.33 110.4 -11.04 re f BT 10.079 0 0 10.079 151.89 789.2101 Tm 0 g 0 Tw (2003)Tj ET 0.934 g 262.53 798.33 11.52 -11.04 re f BT 10.079 0 0 10.079 262.53 789.2101 Tm 0 g ( )Tj ET 0.934 g 274.29 798.33 27.12 -11.04 re f BT 10.079 0 0 10.079 274.29 789.2101 Tm 0 g ( )Tj ET 0.934 g 301.65 798.33 12.48 -11.04 re f BT 10.079 0 0 10.079 301.65 789.2101 Tm 0 g (3.0)Tj ET 0.934 g 314.37 798.33 30.24 -11.04 re f BT 10.079 0 0 10.079 314.37 789.2101 Tm 0 g ( )Tj ET 0.934 g 344.85 798.33 11.76 -11.04 re f BT 10.079 0 0 10.079 344.85 789.2101 Tm 0 g ( )Tj ET 0.934 g 356.85 798.33 42.72 -11.04 re f BT 10.079 0 0 10.079 356.85 789.2101 Tm 0 g ( )Tj ET 0.934 g 399.81 798.33 17.52 -11.04 re f BT 10.079 0 0 10.079 399.81 789.2101 Tm 0 g (20.1)Tj ET 0.934 g 417.57 798.33 42.72 -11.04 re f BT 10.079 0 0 10.079 417.57 789.2101 Tm 0 g ( )Tj -38.8847 -2.5241 TD ( The Company and its ventures also provide retirement health care to most full-time employees who meet certain length of se)Tj 51.1544 0 TD (rvice and )Tj -51.1544 -1.1192 TD (age requirements. Similar to pension, retiree health care is expected to increase significantly due primarily to the lower inte)Tj 49.3195 0 TD (rest rate used )Tj -49.3195 -1.1191 TD (in the determination of the liability and rising health care trend rates. Following is a summary of retiree health care costs f)Tj 48.7656 0 TD (or 2001, )Tj -48.7656 -1.1192 TD (expected 2002 and estimated 2003 for the Company and its share of its ventures: )Tj 12 0 0 12 151.89 716.9701 Tm 1.23 Tc [( )-6140( )560( )-1240( )-1520( )540( )-2300( )]TJ 7.439 0 0 7.439 151.89 706.8901 Tm 12.0419 Tc ( )Tj /F13 1 Tf 20.8737 0.0323 TD 0 Tc (Other Post-Retirement Benefits)Tj /F12 1 Tf -20.8737 -1.2582 TD 12.0419 Tc ( )Tj /F13 1 Tf 24.9387 0.0323 TD 0 Tc (\(In Millions\))Tj /F12 1 Tf -24.9387 -1.1614 TD 12.0419 Tc ( )Tj ET 0.5 g 254.37 690.09 205.92 -0.48 re f BT 7.439 0 0 7.439 151.89 680.2501 Tm 0 g ( )Tj /F13 1 Tf 16.8409 0.0323 TD 0 Tc (Funding and)Tj /F12 1 Tf 8.5495 -0.0323 TD 1.2663 Tc [( )-4581.3( )-871.1( )]TJ -25.3904 -1.226 TD 12.0419 Tc ( )Tj /F13 1 Tf 18.0346 0.0323 TD 0 Tc (Benefit)Tj /F12 1 Tf 7.3558 -0.0323 TD ( )Tj /F13 1 Tf 8.6785 0.0323 TD ( )Tj /F12 1 Tf -34.0689 -1.2582 TD 12.0419 Tc ( )Tj /F13 1 Tf 17.4861 0.0323 TD 0 Tc (Payments)Tj /F12 1 Tf 7.9042 -0.0323 TD ( )Tj /F13 1 Tf 7.0009 0.0323 TD (Expense)Tj /F12 1 Tf -32.3913 -1.1614 TD 12.0419 Tc ( )Tj ET 0.5 g 254.37 654.33 86.16 -0.48 re f BT 7.439 0 0 7.439 340.77 653.61 Tm 0 g 0 Tc ( )Tj ET 0.5 g 352.05 654.33 108.24 -0.48 re f 0.934 g 151.89 651.93 91.2 -11.04 re f BT 10.079 0 0 10.079 151.89 642.8101 Tm 0 g (2001)Tj ET 0.934 g 243.33 651.93 10.8 -11.04 re f BT 10.079 0 0 10.079 243.33 642.8101 Tm 0 g ( )Tj ET 0.934 g 254.37 651.93 32.4 -11.04 re f BT 10.079 0 0 10.079 281.97 642.8101 Tm 0 g ($)Tj ET 0.934 g 287.01 651.93 17.52 -11.04 re f BT 10.079 0 0 10.079 292.05 642.8101 Tm 0 g (7.7)Tj ET 0.934 g 304.77 651.93 35.76 -11.04 re f BT 10.079 0 0 10.079 304.77 642.8101 Tm 0 g ( )Tj ET 0.934 g 340.77 651.93 11.04 -11.04 re f BT 10.079 0 0 10.079 340.77 642.8101 Tm 0 g ( )Tj ET 0.934 g 352.05 651.93 45.12 -11.04 re f BT 10.079 0 0 10.079 392.37 642.8101 Tm 0 g ($)Tj ET 0.934 g 397.41 651.93 17.52 -11.04 re f BT 10.079 0 0 10.079 397.41 642.8101 Tm 0 g (15.8)Tj ET 0.934 g 415.17 651.93 45.12 -11.04 re f BT 10.079 0 0 10.079 415.17 642.8101 Tm 0 g ( )Tj -26.1215 -1.2144 TD 0.8453 Tw [(2002)-7072.4( )-2143.1(12.4)-12.2( )-2476.5( )-23.9( )-3405.1(22.0)-12.2( )]TJ ET 0.934 g 151.89 627.45 91.2 -11.04 re f BT 10.079 0 0 10.079 151.89 618.3301 Tm 0 g 0 Tw (2003)Tj ET 0.934 g 243.33 627.45 10.8 -11.04 re f BT 10.079 0 0 10.079 243.33 618.3301 Tm 0 g ( )Tj ET 0.934 g 254.37 627.45 32.4 -11.04 re f BT 10.079 0 0 10.079 254.37 618.3301 Tm 0 g ( )Tj ET 0.934 g 287.01 627.45 17.52 -11.04 re f BT 10.079 0 0 10.079 287.01 618.3301 Tm 0 g (16.4)Tj ET 0.934 g 304.77 627.45 35.76 -11.04 re f BT 10.079 0 0 10.079 304.77 618.3301 Tm 0 g ( )Tj ET 0.934 g 340.77 627.45 11.04 -11.04 re f BT 10.079 0 0 10.079 340.77 618.3301 Tm 0 g ( )Tj ET 0.934 g 352.05 627.45 45.12 -11.04 re f BT 10.079 0 0 10.079 352.05 618.3301 Tm 0 g ( )Tj ET 0.934 g 397.41 627.45 17.52 -11.04 re f BT 10.079 0 0 10.079 397.41 618.3301 Tm 0 g (26.8)Tj ET 0.934 g 415.17 627.45 45.12 -11.04 re f BT 10.079 0 0 10.079 415.17 618.3301 Tm 0 g ( )Tj /F4 1 Tf -38.6465 -2.5241 TD -0.0001 Tc 0.0001 Tw (STRATEGIC INVESTMENTS)Tj /F12 1 Tf 0 -2.5479 TD 0 Tc 0 Tw ( The Company is pursuing investment opportunities to broaden its scope as a supplier of iron products to the steel industry)Tj 49.9925 0 TD (. In the )Tj -49.9925 -1.1192 TD (normal course of business, the Company examines opportunities to strengthen its position by evaluating various investment oppor)Tj 52.0203 0 TD (tunities )Tj -52.0203 -1.1192 TD (consistent with its strategy. In the event of any future acquisitions or joint venture opportunities, the Company may consider )Tj 49.9635 0 TD (using )Tj -49.9635 -1.1192 TD (available liquidity, incurring additional indebtedness, project financing, or other sources of funding to make investments. )Tj /F4 1 Tf 0 -2.5241 TD -0.0001 Tc 0.0001 Tw (FINANCIAL REPORTING AND DISCLOSURE)Tj /F12 1 Tf 0 -2.5479 TD 0 Tc 0 Tw ( The Company periodically reviews its financial reporting and disclosure practices and accounting policies to ensure accura)Tj 50.4294 0 TD (te and )Tj -50.4294 -1.1192 TD (transparent information relative to the current economic and business environment. Areas most critical consist of accounting po)Tj 51.0704 0 TD (licies and )Tj -51.0704 -1.1192 TD (disclosures regarding: )Tj 27.3359 -2.6907 TD (19)Tj ET endstreamendobj58 0 obj<< /Type /Page /Parent 102 0 R /Resources 59 0 R /Contents 60 0 R /MediaBox [ 0 0 612 1008 ] /CropBox [ 0 0 612 1008 ] /Rotate 0 >> endobj59 0 obj<< /ProcSet [ /PDF /Text ] /Font << /F2 120 0 R /F3 94 0 R /F4 93 0 R /F12 91 0 R >> /ExtGState << /GS1 124 0 R >> >> endobj60 0 obj<< /Length 4053 >> stream 1 g /GS1 gs 1 i 18.21 989.85 575.76 -442.8 re f BT /F12 1 Tf 12 0 0 12 25.65 979.05 Tm 0 g 0 Tc 0 Tw ( )Tj 10.079 0 0 10.079 25.65 953.13 Tm ( )Tj /F2 1 Tf 1.6906 0 TD ()Tj /F12 1 Tf 0.5477 0 TD [( )-1416.8(business risk, including the limited number and distressed financial condition of its iron ore partners, fixed costs, legacy c)]TJ 50.3514 0 TD (osts, )Tj -48.6846 -1.1191 TD (and restructuring costs associated with its mining operations and the joint and several obligation nature associated with its j)Tj 49.3245 0 TD (oint )Tj -49.3245 -1.1192 TD (venture and partnership arrangements;)Tj -3.9051 -1.1192 TD ( )Tj T* ( )Tj /F2 1 Tf 1.6906 0 TD ()Tj /F12 1 Tf 0.5477 0 TD [( )-1416.8(ability of customers to continue to perform on long-term sales agreements;)]TJ -2.2383 -1.1191 TD ( )Tj T* ( )Tj /F2 1 Tf 1.6906 0 TD ()Tj /F12 1 Tf 0.5477 0 TD [( )-1416.8(evaluation of its iron ore reserves and the effect of changes in cost and the ability to produce pellets economically from the)]TJ 50.7914 0 TD (se )Tj -49.1245 -1.1192 TD (reserves; and)Tj -3.9051 -1.1192 TD ( )Tj T* ( )Tj /F2 1 Tf 1.6906 0 TD ()Tj /F12 1 Tf 0.5477 0 TD [( )-1416.8(the ability to negotiate a waiver or amendment of covenants under its senior notes or secure alternate sources of liquidity, )]TJ 1.6668 -1.1192 TD (including asset sales or alternative financing, to retire the senior notes.)Tj -3.9051 -2.5241 TD ( The Company continues to review its estimates and assumptions used in supporting the carrying value of its assets and its )Tj 50.1865 0 TD (recognition )Tj -50.1865 -1.1191 TD (and disclosure obligations and believes its financial statements are fairly presented and disclosures are balanced and responsi)Tj 49.9855 0 TD (ve. The )Tj -49.9855 -1.1192 TD (Company believes that its business plans and actions are addressing its current business risks and challenges; however, future )Tj 50.4604 0 TD (events )Tj -50.4604 -1.1192 TD (could result in additional financial statement adjustments and/or disclosures. )Tj /F4 1 Tf 0 -2.524 TD -0.0001 Tc 0.0001 Tw (FORWARD-LOOKING STATEMENTS)Tj 0 -2.5479 TD 0 Tc 0 Tw (Cautionary Statements)Tj /F12 1 Tf T* ( Certain expectations and projections regarding future performance of the Company referenced in this report are forward-loo)Tj 50.8704 0 TD (king )Tj -50.8704 -1.1191 TD (statements. These expectations and projections are based on currently available financial, economic and competitive data, along)Tj 51.1514 0 TD ( with the )Tj -51.1514 -1.1192 TD (Company)Tj /F2 1 Tf 3.8886 0 TD ()Tj /F12 1 Tf 0.333 0 TD (s operating plans, and are subject to certain future events and uncertainties. We caution readers that in addition to factors )Tj -4.2216 -1.1192 TD (described elsewhere in this report, the following factors, among others, could cause the Company)Tj /F2 1 Tf 38.9895 0 TD ()Tj /F12 1 Tf 0.333 0 TD (s actual results in 2002 and thereafter )Tj -39.3224 -1.1192 TD (to differ significantly from those expressed. )Tj /F3 1 Tf 0 -2.5479 TD (Steel Company Customers/Partners: )Tj /F12 1 Tf 14.9776 0 TD (More than 95 percent of the Company)Tj /F2 1 Tf 15.2736 0 TD ()Tj /F12 1 Tf 0.333 0 TD (s revenue is derived from the North American integrated )Tj -30.5842 -1.1668 TD (steel industry, consisting of fourteen current or potential customers or partners. Of the fourteen companies \(not all of whom a)Tj 50.1255 0 TD (re current )Tj -50.1255 -1.1192 TD (customers or partners of the Company\), four companies are in reorganization, and certain others have experienced financial diff)Tj 51.1204 0 TD (iculties. )Tj -51.1204 -1.1192 TD (Loss of major sales contracts or the failure of customers or partners to perform under existing arrangements due to financial d)Tj 50.2624 0 TD (ifficulties )Tj -50.2624 -1.1192 TD (could adversely affect the Company. Rejection of major contracts and/or partner agreements by customers and/or partners under )Tj T* (provisions related to bankruptcy/reorganization represents a major uncertainty. )Tj 27.3359 -2.6907 TD (20)Tj ET endstreamendobj61 0 obj<< /Type /Page /Parent 102 0 R /Resources 62 0 R /Contents 63 0 R /MediaBox [ 0 0 612 1008 ] /CropBox [ 0 0 612 1008 ] /Rotate 0 >> endobj62 0 obj<< /ProcSet [ /PDF /Text ] /Font << /F2 120 0 R /F3 94 0 R /F12 91 0 R >> /ExtGState << /GS1 124 0 R >> >> endobj63 0 obj<< /Length 4508 >> stream 1 g /GS1 gs 1 i 18.21 989.85 575.76 -452.4 re f BT /F12 1 Tf 12 0 0 12 25.65 979.05 Tm 0 g 0 Tc 0 Tw ( )Tj /F3 1 Tf 10.079 0 0 10.079 25.65 952.89 Tm (Demand for Iron Ore Pellets:)Tj /F12 1 Tf 11.9535 0 TD ( Demand for iron ore is a function of the operating rates for the blast furnaces of North American steel )Tj -11.9535 -1.1668 TD (companies. 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While the Company carri)Tj 50.9604 0 TD (es )Tj -50.9604 -1.1192 TD (liability insurance which it believes to be appropriate to its businesses, and has provided accounting reserves for such matter)Tj 49.7375 0 TD (s which it )Tj -49.7375 -1.1192 TD (believes to be adequate, in accordance with SFAS No. 5, an unanticipated liability or increase in a currently identified liabil)Tj 49.4875 0 TD (ity arising )Tj -49.4875 -1.1192 TD (out of litigation, tax, or environmental proceeding could have a material adverse effect on the Company. )Tj /F3 1 Tf 0 -2.5479 TD (Financing Considerations: )Tj /F12 1 Tf 11.1201 0 TD (The Company)Tj /F2 1 Tf 5.6935 0 TD ()Tj /F12 1 Tf 0.333 0 TD (s ability to obtain an amendment or waiver from its existing senior noteholders to address the )Tj -17.1466 -1.1668 TD (anticipated violation of an existing loan covenant is uncertain. If the Company cannot reach agreement or secure alternative so)Tj 50.6234 0 TD (urces of )Tj -50.6234 -1.1192 TD (liquidity, including asset sales or alternative financing, to retire the senior notes, it may be forced to seek protection unde)Tj 48.3776 0 TD (r the bankruptcy )Tj -48.3776 -1.1192 TD (laws. )Tj /F3 1 Tf 0 -2.5479 TD (Minimum Pensions Liability: )Tj /F12 1 Tf 12.0011 0 TD (The Company)Tj /F2 1 Tf 5.6935 0 TD ()Tj /F12 1 Tf 0.333 0 TD (s estimates related to the additional minimum pension liability for defined benefit pension )Tj -18.0276 -1.1668 TD (plans may differ significantly from the actual amounts due to changes in actual returns on plan assets, interest rates, and oth)Tj 49.4875 0 TD (er actuarial )Tj -49.4875 -1.1192 TD (assumptions. )Tj 0 -2.5241 TD ( The Company has no obligation to publicly update or revise any forward-looking statements, whether as a result of new info)Tj 51.0714 0 TD (rmation, )Tj -51.0714 -1.1192 TD (future events or otherwise, except as required by law. )Tj 27.3359 -2.6907 TD (21)Tj ET endstreamendobj64 0 obj<< /Type /Page /Parent 102 0 R /Resources 65 0 R /Contents 66 0 R /MediaBox [ 0 0 612 1008 ] /CropBox [ 0 0 612 1008 ] /Rotate 0 >> endobj65 0 obj<< /ProcSet [ /PDF /Text ] /Font << /F2 120 0 R /F12 91 0 R /F13 92 0 R >> /ExtGState << /GS1 124 0 R >> >> endobj66 0 obj<< /Length 3558 >> stream 1 g /GS1 gs 1 i 18.21 989.85 575.76 -342.48 re f BT /F12 1 Tf 12 0 0 12 25.65 979.05 Tm 0 g 0 Tc 0 Tw ( )Tj /F13 1 Tf 10.079 0 0 10.079 25.65 952.41 Tm -0.0001 Tc 0.0001 Tw (ITEM 3. QUALITATIVE AND QUANTITATIVE DISCLOSURES ABOUT MARKET RISK)Tj /F12 1 Tf 0 -2.5717 TD 0 Tc 0 Tw ( Information regarding Market Risk of the Company is presented under the caption )Tj /F2 1 Tf 34.4639 0 TD ()Tj /F12 1 Tf 0.444 0 TD (Market Risk)Tj /F2 1 Tf 4.9715 0 TD ()Tj /F12 1 Tf 0.444 0 TD ( which is included in the Company)Tj /F2 1 Tf 13.9427 0 TD ()Tj /F12 1 Tf 0.333 0 TD (s )Tj -54.599 -1.1191 TD (2001 Annual Report on Form 10-K. )Tj /F13 1 Tf 0 -2.5955 TD -0.0001 Tc 0.0001 Tw (ITEM 4. CONTROLS AND PROCEDURES)Tj /F12 1 Tf 0 -2.5717 TD 0 Tc 0 Tw ( The Company maintains disclosure controls and procedures that are designed to ensure that information required to be discl)Tj 50.7654 0 TD (osed in )Tj -50.7654 -1.1191 TD (the Company)Tj /F2 1 Tf 5.3605 0 TD ()Tj /F12 1 Tf 0.333 0 TD (s Exchange Act reports is recorded, processed, summarized and reported within the time periods specified in the SEC)Tj /F2 1 Tf 47.0147 0 TD ()Tj /F12 1 Tf 0.333 0 TD (s )Tj -53.0412 -1.1192 TD (rules and forms, and that such information is accumulated and communicated to the Company)Tj /F2 1 Tf 37.6586 0 TD ()Tj /F12 1 Tf 0.333 0 TD (s management, including its Chief )Tj -37.9916 -1.1192 TD (Executive Officer and Chief Financial Officer, as appropriate, to allow timely decisions regarding required disclosure based cl)Tj 50.5394 0 TD (osely on )Tj -50.5394 -1.1192 TD (the definition of )Tj /F2 1 Tf 6.6934 0 TD ()Tj /F12 1 Tf 0.444 0 TD (disclosure controls and procedures)Tj /F2 1 Tf 13.8567 0 TD ()Tj /F12 1 Tf 0.444 0 TD ( in Rule 13a-14\(c\). In designing and evaluating the disclosure controls and )Tj -21.4381 -1.1192 TD (procedures, management recognized that any controls and procedures, no matter how well designed and operated, can provide only )Tj T* (reasonable assurance of achieving the desired control objectives, and management necessarily was required to apply its judgment)Tj 51.7343 0 TD ( in )Tj -51.7343 -1.1192 TD (evaluating the cost-benefit relationship of possible controls and procedures. )Tj 0 -2.524 TD ( Within 90 days prior to the date of this report, the Company carried out an evaluation, under the supervision and with the)Tj 49.7115 0 TD ( )Tj -49.7115 -1.1192 TD (participation of the Company)Tj /F2 1 Tf 11.7479 0 TD ()Tj /F12 1 Tf 0.333 0 TD (s management, including the Company)Tj /F2 1 Tf 15.6366 0 TD ()Tj /F12 1 Tf 0.333 0 TD (s Chief Executive Officer and the Company)Tj /F2 1 Tf 17.5504 0 TD ()Tj /F12 1 Tf 0.333 0 TD (s Chief Financial )Tj -45.9338 -1.1192 TD (Officer, of the effectiveness of the design and operation of the Company)Tj /F2 1 Tf 28.9904 0 TD ()Tj /F12 1 Tf 0.333 0 TD (s disclosure controls and procedures. Based on the foregoing, )Tj -29.3233 -1.1191 TD (the Company)Tj /F2 1 Tf 5.3605 0 TD ()Tj /F12 1 Tf 0.333 0 TD (s Chief Executive Officer and Chief Financial Officer concluded that the Company)Tj /F2 1 Tf 33.24 0 TD ()Tj /F12 1 Tf 0.333 0 TD (s disclosure controls and procedures )Tj -39.2664 -1.1192 TD (were effective. )Tj 0 -2.5241 TD ( There have been no significant changes in the Company)Tj /F2 1 Tf 23.6879 0 TD ()Tj /F12 1 Tf 0.333 0 TD (s internal controls or in other factors that could significantly affect the )Tj -24.0208 -1.1191 TD (internal controls subsequent to the date the Company completed its evaluation. )Tj 27.3359 -2.6907 TD (22)Tj ET endstreamendobj67 0 obj<< /Type /Page /Parent 102 0 R /Resources 68 0 R /Contents 69 0 R /MediaBox [ 0 0 612 1008 ] /CropBox [ 0 0 612 1008 ] /Rotate 0 >> endobj68 0 obj<< /ProcSet [ /PDF /Text ] /Font << /F2 120 0 R /F3 94 0 R /F6 119 0 R /F12 91 0 R /F13 92 0 R >> /ExtGState << /GS1 124 0 R >> >> endobj69 0 obj<< /Length 4777 >> stream 1 g /GS1 gs 1 i 18.21 989.85 575.76 -405.6 re f BT /F12 1 Tf 12 0 0 12 25.65 979.05 Tm 0 g 0 Tc 0 Tw ( )Tj /F13 1 Tf 10.079 0 0 10.079 222.69 952.41 Tm -0.0001 Tc 0.0001 Tw (PART II )Tj /F6 1 Tf 3.9996 0 TD 0 Tc 0 Tw ()Tj /F13 1 Tf 0.9999 0 TD -0.0001 Tc 0.0001 Tw ( OTHER INFORMATION)Tj -24.549 -2.6431 TD 0 Tc 0 Tw (Item 1. Legal Proceedings)Tj /F12 1 Tf 0 -2.5717 TD ( The United States Environmental Protection Agency \()Tj /F2 1 Tf 22.9119 0 TD ()Tj /F12 1 Tf 0.444 0 TD -0.0001 Tc (EPA)Tj /F2 1 Tf 1.8888 0 TD 0 Tc ()Tj /F12 1 Tf 0.444 0 TD (\) has conducted an investigation of structures, soil and groundwater at )Tj -25.6887 -1.1191 TD (the former Milwaukee Solvay Coke plant site in Milwaukee, Wisconsin. This plant was last operated by a predecessor of the Compa)Tj 52.9872 0 TD (ny )Tj -52.9872 -1.1192 TD (during the years 1973 to 1983, which predecessor was acquired by the Company in 1986. Based upon the results of this investigat)Tj 51.9613 0 TD (ion, in )Tj -51.9613 -1.1192 TD (the second quarter of 2002, the EPA determined that a removal action should be conducted on the property with respect to the co)Tj 51.5693 0 TD (ntents )Tj -51.5693 -1.1192 TD (of certain above ground storage tanks and various sections of alleged asbestos-containing materials on pipes and other parts of)Tj 50.5414 0 TD ( structures )Tj -50.5414 -1.1191 TD (located on the property. In September 2002, the Company received from EPA a draft of a proposed Administrative Consent Order )Tj T* (limited to the removal of these areas of contaminants and reimbursement of its costs. The associated cost of removal and expens)Tj 51.2923 0 TD (e )Tj -51.2923 -1.1192 TD (reimbursement is not expected to exceed $4 million, which amount has previously been reserved by the Company. The extent of any)Tj 53.0982 0 TD ( )Tj -53.0982 -1.1192 TD (liability related to other potentially responsible parties has not been determined. )Tj /F13 1 Tf 0 -2.5955 TD (Item 2. Changes in Securities and Use of Proceeds)Tj /F12 1 Tf 0 -2.5717 TD ( On July 31, 2002, pursuant to the Cleveland-Cliffs Inc Voluntary Non-Qualified Deferred Compensation Plan \()Tj /F2 1 Tf 45.8508 0 TD ()Tj /F12 1 Tf 0.444 0 TD -0.0001 Tc 0.0001 Tw (VNQDC Plan)Tj /F2 1 Tf 5.5825 0 TD 0 Tc 0 Tw ()Tj /F12 1 Tf 0.444 0 TD (\), the )Tj -52.3213 -1.1191 TD (Company sold 190 shares of common stock, par value $1.00 per share, of Cleveland-Cliffs Inc for an aggregate consideration of )Tj T* ($4,683.50 to the Trustee of the Trust maintained under the VNQDC Plan. These sales were made in reliance on Rule 506 of )Tj T* (Regulation D under the Securities Act of 1933 pursuant to an election made by one managerial employee under the VNQDC Plan. )Tj /F13 1 Tf 0 -2.5955 TD (Item 6. 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Regulation FD Disclosure)Tj /F12 1 Tf 13.6918 0 TD (. The Company also filed a Current Report on )Tj -32.7174 -1.1906 TD (Form 8-K dated October 7, 2002, covering information reported under )Tj /F3 1 Tf 28.717 0 TD (Item 9. Regulation FD Disclosure)Tj /F12 1 Tf 13.6918 0 TD (. 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