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Annual report pursuant to Section 13 and 15(d)

ACQUISITIONS - Consideration (Details)

v3.20.4
ACQUISITIONS - Consideration (Details)
$ / shares in Units, $ in Millions
12 Months Ended
Dec. 09, 2020
USD ($)
$ / shares
shares
Mar. 13, 2020
USD ($)
$ / shares
shares
Dec. 31, 2020
shares
Dec. 31, 2019
shares
Business Acquisition [Line Items] Ìý Ìý Ìý Ìý
Cash consideration (subject to customary working capital adjustments) $ 631 Ìý Ìý Ìý
Common shares, outstanding (in shares) | shares Ìý Ìý 477,517,372 270,084,005
Series B Preferred Stock Ìý Ìý Ìý Ìý
Business Acquisition [Line Items] Ìý Ìý Ìý Ìý
Fair value of Cliffs issued stock 738 Ìý Ìý Ìý
ArcelorMittal USA [Member] Ìý Ìý Ìý Ìý
Business Acquisition [Line Items] Ìý Ìý Ìý Ìý
Fair value of settlement of a pre-existing relationship 237 Ìý Ìý Ìý
Cash consideration (subject to customary working capital adjustments) 631 Ìý Ìý Ìý
Total purchase consideration 2,596 Ìý Ìý Ìý
Payments to Acquire Businesses, Pursuant to Transaction Agreement 505 Ìý Ìý Ìý
Payments to Acquire Businesses, Purchase of JV Interest 182 Ìý Ìý Ìý
Payments to Acquire Businesses, Cash Consideration Receivable (56) Ìý Ìý Ìý
Business Combination, Separately Recognized Transactions, Accounts Receivable 97 Ìý Ìý Ìý
Business Combination, Separately Recognized Transactions, Assets Recognized 140 Ìý Ìý Ìý
ArcelorMittal USA [Member] | Common Stock [Member] Ìý Ìý Ìý Ìý
Business Acquisition [Line Items] Ìý Ìý Ìý Ìý
Fair value of Cliffs issued stock $ 990 Ìý Ìý Ìý
Number of shares issued (in shares) | shares 78,186,671 Ìý 78,000,000 Ìý
Share price (in dollars per share) | $ / shares $ 12.66 Ìý Ìý Ìý
ArcelorMittal USA [Member] | Series B Preferred Stock Ìý Ìý Ìý Ìý
Business Acquisition [Line Items] Ìý Ìý Ìý Ìý
Number of shares issued (in shares) | shares 583,273 Ìý 583,273 Ìý
Share price (in dollars per share) | $ / shares $ 1,266 Ìý Ìý Ìý
AK Steel [Member] Ìý Ìý Ìý Ìý
Business Acquisition [Line Items] Ìý Ìý Ìý Ìý
Total purchase consideration Ìý $ 1,535 Ìý Ìý
Share price (in dollars per share) | $ / shares Ìý $ 4.87 Ìý Ìý
Business Combination, Consideration Transferred, Liabilities Incurred Ìý $ 914 Ìý Ìý
Common shares, outstanding (in shares) | shares Ìý 317,000,000 Ìý Ìý
Business Acquisition, Shares Exchange Ratio Ìý 0.400 Ìý Ìý
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | shares Ìý 127,000,000 Ìý Ìý
AK Steel [Member] | Common Stock [Member] Ìý Ìý Ìý Ìý
Business Acquisition [Line Items] Ìý Ìý Ìý Ìý
Number of shares issued (in shares) | shares Ìý Ìý 127,000,000 Ìý
Business Acquisition, Shares Exchange Ratio Ìý Ìý 0.400 Ìý
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned Ìý $ 618 Ìý Ìý
Business Combination, Consideration Transferred, Other Ìý 3 Ìý Ìý
AK Steel [Member] | ABL Facility [Member] Ìý Ìý Ìý Ìý
Business Acquisition [Line Items] Ìý Ìý Ìý Ìý
Business Combination, Consideration Transferred, Liabilities Incurred Ìý 590 Ìý Ìý
AK Steel [Member] | 7.50% 2023 AK Senior Notes [Member] Ìý Ìý Ìý Ìý
Business Acquisition [Line Items] Ìý Ìý Ìý Ìý
Business Combination, Consideration Transferred, Liabilities Incurred Ìý $ 324 Ìý Ìý