The components of Accumulated other comprehensive loss within Cliffs shareholders’ equity (deficit) and related tax effects allocated to each are shown below:
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|
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|
|
|
|
|
|
Ìý |
(In Millions) |
Ìý |
Pre-tax
Amount
|
Ìý |
Tax
Benefit
|
Ìý |
After-tax
Amount
|
As of DecemberÌý31, 2018: |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Postretirement benefit liability |
$ |
(408.1 |
) |
Ìý |
$ |
127.0 |
|
Ìý |
$ |
(281.1 |
) |
Unrealized net loss on derivative financial instruments |
(3.5 |
) |
Ìý |
0.7 |
|
Ìý |
(2.8 |
) |
Ìý |
$ |
(411.6 |
) |
Ìý |
$ |
127.7 |
|
Ìý |
$ |
(283.9 |
) |
As of DecemberÌý31, 2017: |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Postretirement benefit liability |
$ |
(387.3 |
) |
Ìý |
$ |
123.4 |
|
Ìý |
$ |
(263.9 |
) |
Foreign currency translation adjustments |
225.4 |
|
Ìý |
— |
|
Ìý |
225.4 |
|
Unrealized net loss on derivative financial instruments |
(0.5 |
) |
Ìý |
— |
|
Ìý |
(0.5 |
) |
Ìý |
$ |
(162.4 |
) |
Ìý |
$ |
123.4 |
|
Ìý |
$ |
(39.0 |
) |
As of DecemberÌý31, 2016: |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Postretirement benefit liability |
$ |
(384.0 |
) |
Ìý |
$ |
123.4 |
|
Ìý |
$ |
(260.6 |
) |
Foreign currency translation adjustments |
239.3 |
|
Ìý |
— |
|
Ìý |
239.3 |
|
Ìý |
$ |
(144.7 |
) |
Ìý |
$ |
123.4 |
|
Ìý |
$ |
(21.3 |
) |
The following tables reflect the changes in Accumulated other comprehensive loss related to Cliffs shareholders’ equity (deficit) for DecemberÌý31, 2018, 2017 and 2016:
|
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|
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|
|
|
|
|
|
Ìý |
(In Millions) |
Ìý |
Postretirement Benefit Liability, net of tax |
Ìý |
Unrealized Net Gain (Loss) on Foreign Currency Translation |
Ìý |
Net Unrealized Loss on Derivative Financial Instruments, net of tax |
Ìý |
Accumulated Other Comprehensive Loss |
Balance December 31, 2017 |
$ |
(263.9 |
) |
Ìý |
$ |
225.4 |
|
Ìý |
$ |
(0.5 |
) |
Ìý |
$ |
(39.0 |
) |
Other comprehensive income (loss) before reclassifications |
(42.9 |
) |
Ìý |
2.7 |
|
Ìý |
(0.6 |
) |
Ìý |
(40.8 |
) |
Net loss (gain) reclassified from accumulated other comprehensive loss |
25.7 |
|
Ìý |
(228.1 |
) |
Ìý |
(1.7 |
) |
Ìý |
(204.1 |
) |
Balance December 31, 2018 |
$ |
(281.1 |
) |
Ìý |
$ |
— |
|
Ìý |
$ |
(2.8 |
) |
Ìý |
$ |
(283.9 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ìý |
(In Millions) |
Ìý |
Postretirement Benefit Liability, net of tax |
Ìý |
Unrealized Net Gain (Loss) on Foreign Currency Translation |
Ìý |
Net Unrealized Loss on Derivative Financial Instruments, net of tax |
Ìý |
Accumulated Other Comprehensive Loss |
Balance December 31, 2016 |
$ |
(260.6 |
) |
Ìý |
$ |
239.3 |
|
Ìý |
$ |
— |
|
Ìý |
$ |
(21.3 |
) |
Other comprehensive loss before reclassifications |
(29.8 |
) |
Ìý |
(13.9 |
) |
Ìý |
(0.5 |
) |
Ìý |
(44.2 |
) |
Net loss reclassified from accumulated other comprehensive loss |
26.5 |
|
Ìý |
— |
|
Ìý |
— |
|
Ìý |
26.5 |
|
Balance December 31, 2017 |
$ |
(263.9 |
) |
Ìý |
$ |
225.4 |
|
Ìý |
$ |
(0.5 |
) |
Ìý |
$ |
(39.0 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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 (Loss) on Derivative Financial Instruments, net of tax |
Ìý |
Accumulated Other Comprehensive 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 |
(44.8 |
) |
Ìý |
(0.1 |
) |
Ìý |
18.4 |
|
Ìý |
(3.3 |
) |
Ìý |
(29.8 |
) |
Net loss reclassified from accumulated other comprehensive loss |
25.6 |
|
Ìý |
— |
|
Ìý |
0.2 |
|
Ìý |
0.7 |
|
Ìý |
26.5 |
|
Balance December 31, 2016 |
$ |
(260.6 |
) |
Ìý |
$ |
— |
|
Ìý |
$ |
239.3 |
|
Ìý |
$ |
— |
|
Ìý |
$ |
(21.3 |
) |
|