|
The components of Accumulated other comprehensive loss within Cliffs shareholders’ equity 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, 2019: |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Postretirement benefit liability |
$ |
(454.1 |
) |
Ìý |
$ |
138.4 |
|
Ìý |
$ |
(315.7 |
) |
Unrealized net loss on derivative financial instruments |
(3.9 |
) |
Ìý |
0.8 |
|
Ìý |
(3.1 |
) |
Ìý |
$ |
(458.0 |
) |
Ìý |
$ |
139.2 |
|
Ìý |
$ |
(318.8 |
) |
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 |
) |
The following table reflects the changes in Accumulated other comprehensive loss related to Cliffs shareholders’ equity:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ìý |
(In Millions) |
Ìý |
Postretirement Benefit Liability,
net of tax
|
Ìý |
Foreign Currency Translation |
Ìý |
Derivative Financial Instruments,
net of tax
|
Ìý |
Accumulated Other Comprehensive Loss |
January 1, 2017 |
$ |
(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 |
|
December 31, 2017 |
(263.9 |
) |
Ìý |
225.4 |
|
Ìý |
(0.5 |
) |
|
(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 |
) |
December 31, 2018 |
(281.1 |
) |
Ìý |
— |
|
Ìý |
(2.8 |
) |
Ìý |
(283.9 |
) |
Other comprehensive loss before reclassifications |
(56.7 |
) |
Ìý |
— |
|
Ìý |
(2.3 |
) |
Ìý |
(59.0 |
) |
Net loss reclassified from accumulated other comprehensive loss |
22.1 |
|
Ìý |
— |
|
Ìý |
2.0 |
|
Ìý |
24.1 |
|
December 31, 2019 |
$ |
(315.7 |
) |
Ìý |
$ |
— |
|
Ìý |
$ |
(3.1 |
) |
Ìý |
$ |
(318.8 |
) |
|