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Quarterly report pursuant to Section 13 or 15(d)

SHAREHOLDERS' EQUITY Shareholders' Equity (Tables)

v3.5.0.2
SHAREHOLDERS' EQUITY Shareholders' Equity (Tables)
 9 Months Ended
Sep. 30, 2016
Equity [Abstract] Ìý
Schedule of Stockholders Equity
The following table reflects the changes in shareholders' equity (deficit) attributable to both Cliffs and the noncontrolling interests primarily related to Tilden and Empire of which Cliffs owns 85 percent and 79 percent, respectively, for the nine months ended SeptemberÌý30, 2016 and SeptemberÌý30, 2015:
Ìý
(In Millions)
Ìý
Cliffs
³§³ó²¹°ù±ð³ó´Ç±ô»å±ð°ù²õ’
Equity (Deficit)
Ìý
Noncontrolling
Interest (Deficit)
Ìý
Total Equity (Deficit)
December 31, 2015
$
(1,981.4
)
Ìý
$
169.8

Ìý
$
(1,811.6
)
Comprehensive income
Ìý
Ìý
Ìý
Ìý
Ìý
Net income
95.0

Ìý
23.5

Ìý
118.5

Other comprehensive income
16.8

Ìý
2.2

Ìý
19.0

Total comprehensive income
111.8

Ìý
25.7

Ìý
137.5

Issuance of common shares
315.2

Ìý
—

Ìý
315.2

Stock and other incentive plans
10.1

Ìý
—

Ìý
10.1

Distributions of partnership equity
—

Ìý
(48.8
)
Ìý
(48.8
)
Undistributed losses to noncontrolling interest
—

Ìý
(2.9
)
Ìý
(2.9
)
September 30, 2016
$
(1,544.3
)
Ìý
$
143.8

Ìý
$
(1,400.5
)
Ìý
(In Millions)
Ìý
Cliffs
³§³ó²¹°ù±ð³ó´Ç±ô»å±ð°ù²õ’
Equity (Deficit)
Ìý
Noncontrolling
Interest (Deficit)
Ìý
Total Equity (Deficit)
December 31, 2014
$
(1,431.3
)
Ìý
$
(303.0
)
Ìý
$
(1,734.3
)
Comprehensive income (loss)
Ìý
Ìý
Ìý
Ìý
Ìý
Net loss
(689.0
)
Ìý
(1.5
)
Ìý
(690.5
)
Other comprehensive income (loss)
220.7

Ìý
(9.3
)
Ìý
211.4

Total comprehensive loss
(468.3
)
Ìý
(10.8
)
Ìý
(479.1
)
Effect of deconsolidation
—

Ìý
528.2

Ìý
528.2

Stock and other incentive plans
6.0

Ìý
—

Ìý
6.0

Preferred share dividends
(38.4
)
Ìý
—

Ìý
(38.4
)
Distributions to noncontrolling interest
—

Ìý
(40.7
)
Ìý
(40.7
)
Undistributed losses to noncontrolling interest
—

Ìý
(1.2
)
Ìý
(1.2
)
September 30, 2015
$
(1,932.0
)
Ìý
$
172.5

Ìý
$
(1,759.5
)
Schedule of Accumulated Other Comprehensive Income (Loss)
The following table reflects the changes in Accumulated other comprehensive income (loss) related to Cliffs shareholders’ equity for SeptemberÌý30, 2016 and SeptemberÌý30, 2015:
Ìý
(In Millions)
Ìý
Changes in Pension and Other Post-Retirement Benefits, net of tax
Ìý
Unrealized Net Gain (Loss) on Securities, net of tax
Ìý
Unrealized Net Gain (Loss) on Foreign Currency Translation
Ìý
Net Unrealized Gain (Loss) on Derivative Financial Instruments, net of tax
Ìý
Accumulated Other Comprehensive Income (Loss)
Balance December 31, 2015
$
(241.4
)
Ìý
$
0.1

Ìý
$
220.7

Ìý
$
2.6

Ìý
$
(18.0
)
Other comprehensive income (loss) before reclassifications
(1.5
)
Ìý
(0.1
)
Ìý
4.4

Ìý
(3.4
)
Ìý
(0.6
)
Net loss reclassified from accumulated other comprehensive income (loss)
6.3

Ìý
—

Ìý
—

Ìý
—

Ìý
6.3

Balance March 31, 2016
$
(236.6
)
Ìý
$
—

Ìý
$
225.1

Ìý
$
(0.8
)
Ìý
$
(12.3
)
Other comprehensive income (loss) before reclassifications
(0.4
)
Ìý
—

Ìý
(2.7
)
Ìý
0.1

Ìý
(3.0
)
Net loss reclassified from accumulated other comprehensive income (loss)
6.3

Ìý
—

Ìý
—

Ìý
—

Ìý
6.3

Balance June 30, 2016
$
(230.7
)
Ìý
$
—

Ìý
$
222.4

Ìý
$
(0.7
)
Ìý
$
(9.0
)
Other comprehensive income (loss) before reclassifications
(0.5
)
Ìý
—

Ìý
0.9

Ìý
—

Ìý
0.4

Net loss reclassified from accumulated other comprehensive income (loss)
6.7

Ìý
—

Ìý
—

Ìý
0.7

Ìý
7.4

Balance September 30, 2016
$
(224.5
)
Ìý
$
—

Ìý
$
223.3

Ìý
$
—

Ìý
$
(1.2
)
Ìý
(In Millions)
Ìý
Changes in Pension and Other Post-Retirement Benefits, net of tax
Ìý
Unrealized Net Gain (Loss) on Securities, net of tax
Ìý
Unrealized Net Gain (Loss) on Foreign Currency Translation
Ìý
Net Unrealized Gain (Loss) on Derivative Financial Instruments, net of tax
Ìý
Accumulated Other Comprehensive Income (Loss)
Balance December 31, 2014
$
(291.1
)
Ìý
$
(1.0
)
Ìý
$
64.4

Ìý
$
(18.1
)
Ìý
$
(245.8
)
Other comprehensive income (loss) before reclassifications
9.3

Ìý
2.8

Ìý
(14.7
)
Ìý
(7.1
)
Ìý
(9.7
)
Net loss (gain) reclassified from accumulated other comprehensive income (loss)
30.3

Ìý
(2.0
)
Ìý
182.7

Ìý
6.3

Ìý
217.3

Balance March 31, 2015
$
(251.5
)
Ìý
$
(0.2
)
Ìý
$
232.4

Ìý
$
(18.9
)
Ìý
$
(38.2
)
Other comprehensive income (loss) before reclassifications
1.3

Ìý
1.0

Ìý
1.2

Ìý
0.5

Ìý
4.0

Net loss (gain) reclassified from accumulated other comprehensive income (loss)
(1.6
)
Ìý
(0.9
)
Ìý
—

Ìý
7.8

Ìý
5.3

Balance June 30, 2015
$
(251.8
)
Ìý
$
(0.1
)
Ìý
$
233.6

Ìý
$
(10.6
)
Ìý
$
(28.9
)
Other comprehensive income (loss) before reclassifications
(0.7
)
Ìý
0.1

Ìý
(11.4
)
Ìý
4.8

Ìý
(7.2
)
Net loss reclassified from accumulated other comprehensive income (loss)
6.6

Ìý
—

Ìý
—

Ìý
4.4

Ìý
11.0

Balance September 30, 2015
$
(245.9
)
Ìý
$
—

Ìý
$
222.2

Ìý
$
(1.4
)
Ìý
$
(25.1
)
Details of Accumulated Other Comprehensive Income (Loss) Components

The following table reflects the details about Accumulated other comprehensive income (loss) components related to Cliffs shareholders’ equity for the three and nine months ended SeptemberÌý30, 2016:
Ìý
Ìý
(In Millions)
Ìý
Ìý
Details about Accumulated Other Comprehensive Income (Loss) Components
Ìý
Amount of (Gain)/Loss Reclassified into Income
Ìý
Affected Line Item in the Statement of Unaudited Condensed Consolidated Operations
Ìý
Three Months Ended
September 30,
Ìý
Nine Months Ended
September 30,
Ìý
Ìý
2016
Ìý
2015
Ìý
2016
Ìý
2015
Ìý
Amortization of pension and postretirement benefit liability:
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Prior service costs (1)
Ìý
$
(0.4
)
Ìý
$
1.1

Ìý
$
(1.2
)
Ìý
$
0.5

Ìý
Ìý
Net actuarial loss (1)
Ìý
7.1

Ìý
5.6

Ìý
20.4

Ìý
19.5

Ìý
Ìý
Settlements/curtailments (1)
Ìý
—

Ìý
(0.1
)
Ìý
—

Ìý
0.2

Ìý
Ìý
Effect of deconsolidation (2)
Ìý
—

Ìý
—

Ìý
—

Ìý
15.1

Ìý
Loss from Discontinued Operations, net of tax
Ìý
Ìý
6.7

Ìý
6.6

Ìý
19.2

Ìý
35.3

Ìý
Total before taxes
Ìý
Ìý
—

Ìý
—

Ìý
—

Ìý
—

Ìý
Income tax benefit (expense)
Ìý
Ìý
$
6.7

Ìý
$
6.6

Ìý
$
19.2

Ìý
$
35.3

Ìý
Net of taxes
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Unrealized gain (loss) on marketable securities:
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Impairment
Ìý
—

Ìý
—

Ìý
—

Ìý
(3.2
)
Ìý
Other non-operating income (expense)
Ìý
Ìý
—

Ìý
—

Ìý
—

Ìý
0.3

Ìý
Income tax benefit (expense)
Ìý
Ìý
$
—

Ìý
$
—

Ìý
$
—

Ìý
$
(2.9
)
Ìý
Net of taxes
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Unrealized gain (loss) on foreign currency translation:
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Effect of deconsolidation (2)
Ìý
$
—

Ìý
$
—

Ìý
$
—

Ìý
$
182.7

Ìý
Loss from Discontinued Operations, net of tax
Ìý
Ìý
—

Ìý
—

Ìý
—

Ìý
—

Ìý
Income tax benefit (expense)
Ìý
Ìý
$
—

Ìý
$
—

Ìý
$
—

Ìý
$
182.7

Ìý
Net of taxes
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Unrealized gain (loss) on derivative financial instruments:
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Australian dollar foreign exchange contracts
Ìý
$
—

Ìý
$
6.3

Ìý
$
—

Ìý
$
26.4

Ìý
Product revenues
Treasury lock
Ìý
1.2

Ìý
—

Ìý
1.2

Ìý
—

Ìý
Gain (loss) on extinguishment/restructuring of debt
Ìý
Ìý
(0.5
)
Ìý
(1.9
)
Ìý
(0.5
)
Ìý
(7.9
)
Ìý
Income tax benefit (expense)
Ìý
Ìý
$
0.7

Ìý
$
4.4

Ìý
$
0.7

Ìý
$
18.5

Ìý
Net of taxes
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Total Reclassifications for the Period
Ìý
$
7.4

Ìý
$
11.0

Ìý
$
19.9

Ìý
$
233.6

Ìý
Ìý
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(1)Ìý
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)Ìý
Represents Canadian accumulated currency translation adjustments that were deconsolidated. See NOTE 14 - DISCONTINUED OPERATIONS for further information.