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Annual report pursuant to Section 13 and 15(d)

ACCUMULATED OTHERCOMPREHENSIVE INCOME (LOSS) (Tables)

v3.8.0.1
ACCUMULATED OTHERCOMPREHENSIVE INCOME (LOSS) (Tables)
 12 Months Ended
Dec. 31, 2017
Schedule of Accumulate Other Comprehensive Income (Loss) and Related Tax Effects [Table Text Block]
The components of Accumulated other comprehensive loss within Cliffs shareholders鈥� deficit and related tax effects allocated to each are shown below as of December听31, 2017, 2016 and 2015:
听
(In Millions)
听
Pre-tax
Amount
听
Tax
Benefit
听
After-tax
Amount
As of December听31, 2017:
听
听
听
听
听
Postretirement benefit liability
$
(387.3
)
听
$
123.4

听
$
(263.9
)
Foreign currency translation adjustments
225.4

听
鈥�

听
225.4

Unrealized net loss on derivative financial instruments
(0.5
)
听
鈥�

听
(0.5
)
听
$
(162.4
)
听
$
123.4

听
$
(39.0
)
As of December听31, 2016:
听
听
听
听
听
Postretirement benefit liability
$
(384.0
)
听
$
123.4

听
$
(260.6
)
Foreign currency translation adjustments
239.3

听
鈥�

听
239.3

听
$
(144.7
)
听
$
123.4

听
$
(21.3
)
As of December听31, 2015:
听
听
听
听
听
Postretirement benefit liability
$
(364.8
)
听
$
123.4

听
$
(241.4
)
Foreign currency translation adjustments
220.7

听
鈥�

听
220.7

Unrealized net gain on derivative financial instruments
2.2

听
0.4

听
2.6

Unrealized gain on securities
0.1

听
鈥�

听
0.1

听
$
(141.8
)
听
$
123.8

听
$
(18.0
)
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]
The following tables reflect the changes in Accumulated other comprehensive loss related to Cliffs shareholders鈥� equity for December听31, 2017, 2016 and 2015:
听
(In Millions)
听
Postretirement Benefit Liability, net of tax
听
Unrealized Net Gain (Loss) on Foreign Currency Translation
听
Net Unrealized Loss on Derivative Financial Instruments, net of tax
听
Accumulated Other Comprehensive Income (Loss)
Balance December 31, 2016
$
(260.6
)
听
$
239.3

听
$
鈥�

听
$
(21.3
)
Other comprehensive loss before reclassifications
(29.8
)
听
(13.9
)
听
(0.5
)
听
(44.2
)
Net loss reclassified from accumulated other comprehensive income (loss)
26.5

听
鈥�

听
鈥�

听
26.5

Balance December 31, 2017
$
(263.9
)
听
$
225.4

听
$
(0.5
)
听
$
(39.0
)
听
(In Millions)
听
Postretirement Benefit Liability, net of tax
听
Unrealized Net Gain (Loss) on Securities, net of tax
听
Unrealized Net Gain on Foreign Currency Translation
听
Net Unrealized Gain (Loss) on Derivative Financial Instruments, net of tax
听
Accumulated Other Comprehensive Income (Loss)
Balance December 31, 2015
$
(241.4
)
听
$
0.1

听
$
220.7

听
$
2.6

听
$
(18.0
)
Other comprehensive income (loss) before reclassifications
(44.8
)
听
(0.1
)
听
18.4

听
(3.3
)
听
(29.8
)
Net loss reclassified from accumulated other comprehensive income (loss)
25.6

听
鈥�

听
0.2

听
0.7

听
26.5

Balance December 31, 2016
$
(260.6
)
听
$
鈥�

听
$
239.3

听
$
鈥�

听
$
(21.3
)
听
(In Millions)
听
Postretirement Benefit Liability, net of tax
听
Unrealized Net Gain (Loss) on Securities, net of tax
听
Unrealized Net Gain (Loss) on Foreign Currency Translation
听
Net Unrealized Gain (Loss) on Derivative Financial Instruments, net of tax
听
Accumulated Other Comprehensive Income (Loss)
Balance December 31, 2014
$
(291.1
)
听
$
(1.0
)
听
$
64.4

听
$
(18.1
)
听
$
(245.8
)
Other comprehensive income (loss) before reclassifications
9.1

听
5.4

听
(26.4
)
听
1.9

听
(10.0
)
Net loss (gain) reclassified from accumulated other comprehensive income (loss)
40.6

听
(4.3
)
听
182.7

听
18.8

听
237.8

Balance December 31, 2015
$
(241.4
)
听
$
0.1

听
$
220.7

听
$
2.6

听
$
(18.0
)
Details of Accumulated Other Comprehensive Income (Loss) Components [Table Text Block]
The following table reflects the details about Accumulated other comprehensive loss components related to Cliffs shareholders鈥� equity for the years ended December听31, 2017, 2016 and 2015:
听
听
(In Millions)
听
听
Details about Accumulated Other Comprehensive Income (Loss) Components
听
Amount of (Gain)/Loss Reclassified into Income
听
Affected Line Item in the Statement of Consolidated Operations
听
听
Year Ended
December 31, 2017
听
Year Ended
December 31, 2016
听
Year Ended
December 31, 2015
听
听
Amortization of Pension and Postretirement Benefit Liability:
听
听
听
听
听
听
听
听
Prior service costs1
听
$
(0.4
)
听
$
(1.5
)
听
$
(1.4
)
听
听
Net actuarial loss1
听
26.9

听
27.1

听
27.4

听
听
Curtailments/Settlements1
听
鈥�

听
鈥�

听
0.2

听
听
Effect of deconsolidation2
听
鈥�

听
鈥�

听
15.1

听
Loss from Discontinued Operations, net of tax
听
听
26.5

听
25.6

听
41.3

听
Total before taxes
听
听
鈥�

听
鈥�

听
(0.7
)
听
Income tax benefit (expense)
听
听
$
26.5

听
$
25.6

听
$
40.6

听
Net of taxes
听
听
听
听
听
听
听
听
听
Unrealized loss on marketable securities:
听
听
听
听
听
听
听
听
Sale of marketable securities
听
$
鈥�

听
$
鈥�

听
$
(2.6
)
听
Other non-operating income (expense)
Impairment
听
鈥�

听
鈥�

听
(2.0
)
听
Other non-operating income (expense)
听
听
鈥�

听
鈥�

听
(4.6
)
听
Total before taxes
听
听
鈥�

听
鈥�

听
0.3

听
Income tax benefit (expense)
听
听
$
鈥�

听
$
鈥�

听
$
(4.3
)
听
Net of taxes
听
听
听
听
听
听
听
听
听
Unrealized gain on foreign currency translation:
听
听
听
听
听
听
听
听
Dissolution of entity
听
$
鈥�

听
$
0.2

听
$
鈥�

听
Other non-operating income (expense)
Effect of deconsolidation3
听
鈥�

听
鈥�

听
182.7

听
Loss from Discontinued Operations, net of tax
听
听
$
鈥�

听
$
0.2

听
$
182.7

听
Net of taxes
听
听
听
听
听
听
听
听
听
Unrealized gain on derivative financial instruments:
听
听
听
听
听
听
听
听
Treasury lock
听
$
鈥�

听
$
1.2

听
$
鈥�

听
Gain (loss) on extinguishment/restructuring of debt
Australian dollar foreign exchange contracts
听
鈥�

听
鈥�

听
26.9

听
Product revenues
听
听
鈥�

听
1.2

听
26.9

听
Total before taxes
听
听
鈥�

听
(0.5
)
听
(8.1
)
听
Income tax benefit (expense)
听
听
$
鈥�

听
$
0.7

听
$
18.8

听
Net of taxes
听
听
听
听
听
听
听
听
听
Total Reclassifications for the Period
听
$
26.5

听
$
26.5

听
$
237.8

听
听
听
听
听
听
听
听
听
听
听
1 These accumulated other comprehensive income components are included in the computation of net periodic benefit cost. See NOTE 7 - PENSIONS AND OTHER POSTRETIREMENT BENEFITS for further information.
2 Represents Canadian postretirement benefit liabilities that were deconsolidated. See NOTE 14 - DISCONTINUED OPERATIONS for further information.
3听Represents Canadian accumulated currency translation adjustments that were deconsolidated. See NOTE 14 - DISCONTINUED OPERATIONS for further information.