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Annual report pursuant to Section 13 and 15(d)

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

v2.4.0.6
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
 12 Months Ended
Dec. 31, 2012
Equity [Abstract] Ìý
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
NOTE 17 - ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
The components of Accumulated other comprehensive income (loss) within Cliffs shareholders’ equity and related tax effects allocated to each are shown below as of DecemberÌý31, 2012, 2011 and 2010:
Ìý
(In Millions)
Ìý
Pre-tax
Amount
Ìý
Tax
Benefit
(Provision)
Ìý
After-tax
Amount
As of DecemberÌý31, 2010:
Ìý
Ìý
Ìý
Ìý
Ìý
Postretirement benefit liability
$
(452.0
)
Ìý
$
146.9

Ìý
$
(305.1
)
Foreign currency translation adjustments
329.9

Ìý
(15.2
)
Ìý
314.7

Unrealized net gain on derivative financial instruments
3.9

Ìý
(1.2
)
Ìý
2.7

Unrealized gain on securities
46.9

Ìý
(13.3
)
Ìý
33.6

Ìý
$
(71.3
)
Ìý
$
117.2

Ìý
$
45.9

As of DecemberÌý31, 2011:
Ìý
Ìý
Ìý
Ìý
Ìý
Postretirement benefit liability
$
(615.9
)
Ìý
$
207.0

Ìý
$
(408.9
)
Foreign currency translation adjustments
312.5

Ìý
—

Ìý
312.5

Unrealized net gain on derivative financial instruments
1.7

Ìý
(0.5
)
Ìý
1.2

Unrealized gain on securities
2.5

Ìý
0.1

Ìý
2.6

Ìý
$
(299.2
)
Ìý
$
206.6

Ìý
$
(92.6
)
As of DecemberÌý31, 2012:
Ìý
Ìý
Ìý
Ìý
Ìý
Postretirement benefit liability
$
(576.7
)
Ìý
$
194.0

Ìý
$
(382.7
)
Foreign currency translation adjustments
316.3

Ìý
—

Ìý
316.3

Unrealized net gain on derivative financial instruments
12.4

Ìý
(3.7
)
Ìý
8.7

Unrealized gain on securities
3.3

Ìý
(1.2
)
Ìý
2.1

Ìý
$
(244.7
)
Ìý
$
189.1

Ìý
$
(55.6
)
The following table reflects the changes in Accumulated other comprehensive income (loss) related to Cliffs shareholders’ equity for 2012, 2011 and 2010:
Ìý
(In Millions)
Ìý
Postretirement Benefit Liability, net of tax
Ìý
Unrealized Net Gain (Loss) on Securities, net of tax
Ìý
Unrealized Net Gain on Foreign Currency Translation
Ìý
Net Unrealized Gain on Derivative Financial Instruments, net of tax
Ìý
Accumulated Other Comprehensive Income (Loss)
Balance December 31, 2009
$
(319.1
)
Ìý
$
29.4

Ìý
$
163.1

Ìý
$
4.0

Ìý
$
(122.6
)
Change during 2010
$
14.0

Ìý
$
4.2

Ìý
$
151.6

Ìý
$
(1.3
)
Ìý
$
168.5

Balance December 31, 2010
$
(305.1
)
Ìý
$
33.6

Ìý
$
314.7

Ìý
$
2.7

Ìý
$
45.9

Change during 2011
$
(103.8
)
Ìý
$
(31.0
)
Ìý
$
(2.2
)
Ìý
$
(1.5
)
Ìý
$
(138.5
)
Balance December 31, 2011
$
(408.9
)
Ìý
$
2.6

Ìý
$
312.5

Ìý
$
1.2

Ìý
$
(92.6
)
Change during 2012
26.2

Ìý
(0.5
)
Ìý
3.8

Ìý
7.5

Ìý
37.0

Balance December 31, 2012
$
(382.7
)
Ìý
$
2.1

Ìý
$
316.3

Ìý
$
8.7

Ìý
$
(55.6
)