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Annual report pursuant to Section 13 and 15(d)

ACCUMULATED OTHERCOMPREHENSIVE INCOME (LOSS) (Tables)

v3.10.0.1
ACCUMULATED OTHERCOMPREHENSIVE INCOME (LOSS) (Tables)
12 Months Ended
Dec. 31, 2018
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]
The components of Accumulated other comprehensive loss within Cliffs shareholders’ equity (deficit) and related tax effects allocated to each are shown below:
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:
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
)
ACCUMLATED OTHER COMPREHENSIVE INCOME (LOSS)
The following table reflects the details about Accumulated other comprehensive loss components related to Cliffs shareholders’ equity:
Ìý
Ìý
(In Millions)
Ìý
Ìý
Details about Accumulated Other Comprehensive Loss Components
Ìý
Amount of (Gain)/Loss Reclassified into Income
Ìý
Affected Line Item in the Statement of Consolidated Operations
Ìý
Ìý
Year Ended
December 31, 2018
Ìý
Year Ended
December 31, 2017
Ìý
Year Ended
December 31, 2016
Ìý
Ìý
Amortization of pension and postretirement benefit liability:
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Prior service costs1
Ìý
$
(0.8
)
Ìý
$
(0.4
)
Ìý
$
(1.5
)
Ìý
Other non-operating income
Net actuarial loss1
Ìý
26.2

Ìý
26.9

Ìý
27.1

Ìý
Other non-operating income
Curtailments1
Ìý
0.3

Ìý
—

Ìý
—

Ìý
Other non-operating income
Ìý
Ìý
$
25.7

Ìý
$
26.5

Ìý
$
25.6

Ìý
Net of taxes
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Changes in foreign currency translation:
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Unrealized gain on dissolution of entity
Ìý
$
—

Ìý
$
—

Ìý
$
0.2

Ìý
Other non-operating income
Gain on foreign currency translation2
Ìý
(228.1
)
Ìý
—

Ìý
—

Ìý
Income from discontinued operations, net of tax
Ìý
Ìý
$
(228.1
)
Ìý
$
—

Ìý
$
0.2

Ìý
Net of taxes
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Unrealized gain (loss) on derivative financial instruments:
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Treasury lock
Ìý
$
—

Ìý
$
—

Ìý
$
1.2

Ìý
Gain (loss) on extinguishment/restructuring of debt
Commodity contracts
Ìý
(1.7
)
Ìý
—

Ìý
—

Ìý
Cost of goods sold and operating expenses
Ìý
Ìý
(1.7
)
Ìý
—

Ìý
1.2

Ìý
Total before taxes
Income tax expense
Ìý
—

Ìý
—

Ìý
(0.5
)
Ìý
Income tax benefit
Ìý
Ìý
$
(1.7
)
Ìý
$
—

Ìý
$
0.7

Ìý
Net of taxes
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Total reclassifications for the period
Ìý
$
(204.1
)
Ìý
$
26.5

Ìý
$
26.5

Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
1 These accumulated other comprehensive loss components are included in the computation of net periodic benefit cost. See NOTE 8 - PENSIONS AND OTHER POSTRETIREMENT BENEFITS for further information.
2ÌýRepresents Australian accumulated currency translation adjustments due to the liquidation of substantially all of our Australian subsidiaries' net assets. See NOTE 13 - DISCONTINUED OPERATIONS for further information.