December 31, | ||||||||
(In millions) | 2013 | 2012 | ||||||
Equity method investments | $ | 558 | $ | 570 | ||||
Receivables due after one year, less allowance of $3 for both periods | 58 | 34 | ||||||
Other | 5 | 5 | ||||||
Total | $ | 621 | $ | 609 |
(In millions) | 2013 | 2012 | 2011 | |||||||||
Income data – year ended December 31: | ||||||||||||
Net Sales | $ | 3,735 | $ | 4,019 | $ | 3,514 | ||||||
Operating income | 449 | 650 | 319 | |||||||||
Net income | 413 | 602 | 264 | |||||||||
Balance sheet date – December 31: | ||||||||||||
Current Assets | $ | 912 | $ | 1,028 | ||||||||
Noncurrent Assets | 1,876 | 1,981 | ||||||||||
Current liabilities | 677 | 569 | ||||||||||
Noncurrent Liabilities | 852 | 1,220 |
Investee | Country | December 31, 2013 Interest | |
Acero Prime, S. R. L. de CV | Mexico | 40 | % |
Apolo Tubulars S.A. | Brazil | 50 | % |
Baycoat Limited Partnership | Canada | 50 | % |
Baycoat Limited | Canada | 50 | % |
Chrome Deposit Corporation | United States | 50 | % |
Daniel Ross Bridge, LLC | United States | 50 | % |
D.C. Chrome Limited | Canada | 50 | % |
Double Eagle Steel Coating Company | United States | 50 | % |
Double G Coatings Company L.P. | United States | 50 | % |
Feralloy Processing Company | United States | 49 | % |
Hibbing Development Company | United States | 24.1 | % |
Hibbing Taconite Company(a) | United States | 14.7 | % |
Leeds Retail Center, LLC | United States | 38 | % |
Patriot Premium Threading Services | United States | 50 | % |
PRO-TEC Coating Company | United States | 50 | % |
Strategic Investment Fund Partners I(b) | United States | 8.6 | % |
Strategic Investment Fund Partners II(b) | United States | 4.9 | % |
Swan Point Development Company, Inc. | United States | 50 | % |
Tilden Mining Company, L.C.(a) | United States | 15 | % |
United Spiral Pipe, LLC | United States | 35 | % |
USS-POSCO Industries | United States | 50 | % |
Worthington Specialty Processing | United States | 49 | % |
(a) | Hibbing Taconite Company (HTC) is an unincorporated joint venture that is owned, in part, by Hibbing Development Company (HDC), which is accounted for using the equity method. Through HDC we are able to influence the activities of HTC, and as such, its activities are accounted for using the equity method. |
(b) | Strategic Investment Fund Partners I and II are limited partnerships and in accordance with ASC Topic 323, the financial activities are accounted for using the equity method. |