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ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) | 12 Months Ended
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Dec. 31, 2014
Equity [Abstract] |
ACCUMLATED OTHER COMPREHENSIVE INCOME (LOSS) | NOTE 16 - ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The components of Accumulated other comprehensive income (loss) within Cliffs shareholders’ equity and related tax effects allocated to each are shown below as of December 31, 2014, 2013 and 2012:
| (In Millions)
| Pre-tax Amount |  | Tax Benefit (Provision) |  | After-tax Amount
As of December 31, 2012: |  |  |  |  |
Postretirement benefit liability | $ | (576.7 | ) |  | $ | 194.0 |  |  | $ | (382.7 | )
Foreign currency translation adjustments | 316.3 |  |  | — |  |  | 316.3 |
Unrealized net gain on derivative financial instruments | 12.4 |  |  | (3.7 | ) |  | 8.7 |
Unrealized gain on securities | 3.3 |  |  | (1.2 | ) |  | 2.1 |
| $ | (244.7 | ) |  | $ | 189.1 |  |  | $ | (55.6 | )
As of December 31, 2013: |  |  |  |  |
Postretirement benefit liability | $ | (299.3 | ) |  | $ | 94.4 |  |  | $ | (204.9 | )
Foreign currency translation adjustments | 106.7 |  |  | — |  |  | 106.7 |
Unrealized net gain on derivative financial instruments | (30.0 | ) |  | 9.1 |  |  | (20.9 | )
Unrealized gain on securities | 9.3 |  |  | (3.1 | ) |  | 6.2 |
| $ | (213.3 | ) |  | $ | 100.4 |  |  | $ | (112.9 | )
As of December 31, 2014: |  |  |  |  |
Postretirement benefit liability | $ | (425.3 | ) |  | $ | 134.2 |  |  | $ | (291.1 | )
Foreign currency translation adjustments | 64.4 |  |  | — |  |  | 64.4 |
Unrealized net loss on derivative financial instruments | (25.9 | ) |  | 7.8 |  |  | (18.1 | )
Unrealized gain on securities | (1.3 | ) |  | 0.3 |  |  | (1.0 | )
| $ | (388.1 | ) |  | $ | 142.3 |  |  | $ | (245.8 | )
The following tables reflect the changes in Accumulated other comprehensive income (loss) related to Cliffs shareholders’ equity for December 31, 2014, 2013 and 2012:
| (In Millions)
| Postretirement Benefit Liability, net of tax |  | Unrealized Net Gain (Loss) on Securities, net of tax |  | Unrealized Net Gain (Loss) on Foreign Currency Translation |  | Net Unrealized Gain (Loss) on Derivative Financial Instruments, net of tax |  | Accumulated Other Comprehensive Income (Loss)
Balance December 31, 2013 | $ | (204.9 | ) |  | $ | 6.2 |  |  | $ | 106.7 |  |  | $ | (20.9 | ) |  | $ | (112.9 | )
Other comprehensive income (loss) before reclassifications | (0.4 | ) |  | 3.8 |  |  | 40.5 |  |  | (2.3 | ) |  | 41.6 |
Net loss (gain) reclassified from accumulated other comprehensive income (loss) | 3.3 |  |  | 0.1 |  |  | — |  |  | 12.8 |  |  | 16.2 |
Balance March 31, 2014 | $ | (202.0 | ) |  | $ | 10.1 |  |  | $ | 147.2 |  |  | $ | (10.4 | ) |  | $ | (55.1 | )
Other comprehensive loss before reclassifications | (1.4 | ) |  | (2.4 | ) |  | 19.7 |  |  | 9.7 |  |  | 25.6 |
Net loss (gain) reclassified from accumulated other comprehensive income (loss) | 4.0 |  |  | (1.3 | ) |  | — |  |  | 6.6 |  |  | 9.3 |
Balance June 30, 2014 | $ | (199.4 | ) |  | $ | 6.4 |  |  | $ | 166.9 |  |  | $ | 5.9 |  |  | $ | (20.2 | )
Other comprehensive income (loss) before reclassifications | 3.5 |  |  | 1.3 |  |  | (65.9 | ) |  | (20.0 | ) |  | (81.1 | )
Net loss (gain) reclassified from accumulated other comprehensive income (loss) | 7.6 |  |  | (7.1 | ) |  | — |  |  | (0.6 | ) |  | (0.1 | )
Balance September 30, 2014 | $ | (188.3 | ) |  | $ | 0.6 |  |  | $ | 101.0 |  |  | $ | (14.7 | ) |  | $ | (101.4 | )
Other comprehensive income (loss) before reclassifications | $ | (98.7 | ) |  | $ | (1.4 | ) |  | $ | (36.6 | ) |  | $ | (15.6 | ) |  | $ | (152.3 | )
Net loss (gain) reclassified from accumulated other comprehensive income (loss) | $ | (4.1 | ) |  | $ | (0.2 | ) |  | $ | — |  |  | $ | 12.2 |  |  | $ | 7.9 |
Balance December 31, 2014 | $ | (291.1 | ) |  | $ | (1.0 | ) |  | $ | 64.4 |  |  | $ | (18.1 | ) |  | $ | (245.8 | )
| (In Millions)
| Postretirement Benefit Liability, net of tax |  | Unrealized Net Gain (Loss) on Securities, net of tax |  | Unrealized Net Gain (Loss) on Foreign Currency Translation |  | Net Unrealized Gain (Loss) on Derivative Financial Instruments, net of tax |  | Accumulated Other Comprehensive Income (Loss)
Balance December 31, 2012 | $ | (382.7 | ) |  | $ | 2.1 |  |  | $ | 316.3 |  |  | $ | 8.7 |  |  | $ | (55.6 | )
Other comprehensive income (loss) before reclassifications | (1.1 | ) |  | 2.5 |  |  | 3.3 |  |  | (5.0 | ) |  | (0.3 | )
Net loss (gain) reclassified from accumulated other comprehensive income (loss) | 6.4 |  |  | 0.1 |  |  | — |  |  | (2.0 | ) |  | 4.5 |
Balance March 31, 2013 | $ | (377.4 | ) |  | $ | 4.7 |  |  | $ | 319.6 |  |  | $ | 1.7 |  |  | $ | (51.4 | )
Other comprehensive loss before reclassifications | (1.5 | ) |  | (2.0 | ) |  | (152.0 | ) |  | (42.2 | ) |  | (197.7 | )
Net loss (gain) reclassified from accumulated other comprehensive income (loss) | 8.1 |  |  | 3.6 |  |  | — |  |  | (2.2 | ) |  | 9.5 |
Balance June 30, 2013 | $ | (370.8 | ) |  | $ | 6.3 |  |  | $ | 167.6 |  |  | $ | (42.7 | ) |  | $ | (239.6 | )
Other comprehensive income (loss) before reclassifications | (0.6 | ) |  | 3.5 |  |  | 22.8 |  |  | 12.1 |  |  | 37.8 |
Net loss (gain) reclassified from accumulated other comprehensive income (loss) | 6.3 |  |  | 0.9 |  |  | — |  |  | 16.2 |  |  | 23.4 |
Balance September 30, 2013 | $ | (365.1 | ) |  | $ | 10.7 |  |  | $ | 190.4 |  |  | $ | (14.4 | ) |  | $ | (178.4 | )
Other comprehensive income (loss) before reclassifications | $ | 154.5 |  |  | $ | (4.9 | ) |  | $ | (83.7 | ) |  | $ | (16.6 | ) |  | $ | 49.3 |
Net loss (gain) reclassified from accumulated other comprehensive income (loss) | $ | 5.7 |  |  | $ | 0.4 |  |  | $ | — |  |  | $ | 10.1 |  |  | $ | 16.2 |
Balance December 31, 2013 | $ | (204.9 | ) |  | $ | 6.2 |  |  | $ | 106.7 |  |  | $ | (20.9 | ) |  | $ | (112.9 | )
| (In Millions)
| Postretirement Benefit Liability, net of tax |  | Unrealized Net Gain (Loss) on Securities, net of tax |  | Unrealized Net Gain on Foreign Currency Translation |  | Net Unrealized Gain on Derivative Financial Instruments, net of tax |  | Accumulated Other Comprehensive Income (Loss)
Balance December 31, 2011 | $ | (408.9 | ) |  | $ | 2.6 |  |  | $ | 312.5 |  |  | $ | 1.2 |  |  | $ | (92.6 | )
Change during 2012 | 26.2 |  |  | (0.5 | ) |  | 3.8 |  |  | 7.5 |  |  | 37.0 |
Balance December 31, 2012 | $ | (382.7 | ) |  | $ | 2.1 |  |  | $ | 316.3 |  |  | $ | 8.7 |  |  | $ | (55.6 | )
The following table reflects the details about Accumulated other comprehensive income (loss) components related to Cliffs shareholders’ equity for the year ended December 31, 2014:
|  | (In Millions) |  |
Details about Accumulated Other Comprehensive Income (Loss) Components |  | Amount of (Gain)/Loss Reclassified into Income |  | Affected Line Item in the Statement of Unaudited Condensed Consolidated Operations
|  | Year Ended December 31, 2014 |  | Year Ended December 31, 2013 |  |
Amortization of Pension and Postretirement Benefit Liability: |  |  |  |  |  |
Prior service costs |  | $ | (0.9 | ) |  | $ | (0.6 | ) |  | (1)
Net actuarial loss |  | 19.1 |  |  | 41.4 |  |  | (1)
Curtailments/Settlements |  | (5.0 | ) |  | — |  |  | (1)
Special termination benefits |  | 3.4 |  |  | — |  |  | (1)
|  | 16.6 |  |  | 40.8 |  |  | Total before taxes
|  | (5.8 | ) |  | (14.3 | ) |  | Income tax benefit (expense)
|  | $ | 10.8 |  |  | $ | 26.5 |  |  | Net of taxes
Unrealized gain (loss) on marketable securities: |  |  |  |  |  |
Sale of marketable securities |  | $ | (11.4 | ) |  | $ | (0.2 | ) |  | Other non-operating income (expense)
Impairment |  | (0.5 | ) |  | 5.3 |  |  | Other non-operating income (expense)
|  | (11.9 | ) |  | 5.1 |  |  | Total before taxes
|  | 3.4 |  |  | (0.1 | ) |  | Income tax benefit (expense)
|  | $ | (8.5 | ) |  | $ | 5.0 |  |  | Net of taxes
Unrealized gain (loss) on derivative financial instruments: |  |  |  |  |  |
Australian dollar foreign exchange contracts |  | $ | 18.9 |  |  | $ | 17.0 |  |  | Product revenues
Canadian dollar foreign exchange contracts |  | 26.7 |  |  | 15.3 |  |  | Cost of goods sold and operating expenses
|  | 45.6 |  |  | 32.3 |  |  | Total before taxes
|  | (14.6 | ) |  | (10.2 | ) |  | Income tax benefit (expense)
|  | $ | 31.0 |  |  | $ | 22.1 |  |  | Net of taxes
Total Reclassifications for the Period |  | $ | 33.3 |  |  | $ | 53.6 |  |  |
(1) | These accumulated other comprehensive income components are included in the net periodic benefit cost recognized for the year ended December 31, 2014 and 2013. See NOTE 7 - PENSIONS AND OTHER POSTRETIREMENT BENEFITS for further information.

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- Definition The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e637-108580 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 14 -URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e681-108580 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e689-108580 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=36458714&loc=SL7669619-108580 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e640-108580 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 17 -URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e716-108580 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 16 -URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e709-108580 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Reclassification Adjustments -URI http://asc.fasb.org/extlink&oid=6522872 + Details
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