XML 102 R63.htm IDEA: XBRL DOCUMENT
v3.2.0.727

FAIR VALUE OF FINANCIAL INSTRUMENTS (Carrying Value And Fair Value Of Financial Instruments Disclosure) (Details) - USD ($) | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014
--- | --- | --- | ---
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] |  |  |  |  |  |
Debt Instrument, Face Amount |  | $ 3,621,500,000 |  |  | $ 3,980,000,000 |
Long-term debt: |  |  |  |  |  |
Long-term Debt |  | 2,887,400,000 |  |  | 2,843,300,000 |
Total long-term debt, carrying value |  | 2,887,400,000 |  |  | 2,843,300,000 |
$700 Million 4.875% 2021 Senior Note [Member] |  |  |  |  |  |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] |  |  |  |  |  |
Debt Instrument, Face Amount |  | 700,000,000 |  |  | 700,000,000 |
Long-term debt: |  |  |  |  |  |
Long-term Debt | [1] | 422,900,000 |  |  | 689,500,000 |
Senior Notes - $1.3 Billion [Member] |  |  |  |  |  |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] |  |  |  |  |  |
Debt Instrument, Face Amount |  | 1,300,000,000.0 |  |  | 1,300,000,000.0 |
$400 Million 5.90% 2020 Senior Notes [Member] |  |  |  |  |  |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] |  |  |  |  |  |
Debt Instrument, Face Amount |  | 400,000,000 |  |  | 400,000,000 |
Long-term debt: |  |  |  |  |  |
Long-term Debt | [2] | 325,800,000 |  |  | 393,700,000 |
$500 Million 3.95% 2018 Senior Notes [Member] |  |  |  |  |  |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] |  |  |  |  |  |
Debt Instrument, Face Amount |  | 500,000,000.0 |  |  | 500,000,000 |
Long-term debt: |  |  |  |  |  |
Long-term Debt | [3] | 434,000,000 |  |  | 477,400,000 |
Five hundred forty million Eight point two five Twenty twenty First Lien Notes [Member] |  |  |  |  |  |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] |  |  |  |  |  |
Debt Instrument, Face Amount |  | 540,000,000 |  |  | 0 |
Long-term debt: |  |  |  |  |  |
Long-term Debt |  | 504,900,000 |  |  |  |
Five hundred Forty-four Million Seven Point Seven Five Twenty Twenty Second Lien Notes [Member] |  |  |  |  |  |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] |  |  |  |  |  |
Debt Instrument, Face Amount |  | 544,200,000 |  |  | 0 |
Long-term debt: |  |  |  |  |  |
Debt Instrument, Fair Value Disclosure |  |  |  | $ 397,200,000 |  |
Long-term Debt |  | 402,200,000 |  |  |  |
Revolving Credit Facility [Member] |  |  |  |  |  |
Long-term debt: |  |  |  |  |  |
Revolving loan, carrying value |  | 0 | [4] |  | 0 | [5]
Interest Rate Swap [Member] |  |  |  |  |  |
Long-term debt: |  |  |  |  |  |
Fair Value Adjustment to Interest Rate Hedge |  | 2,500,000 |  |  | 2,800,000 |
Fair Value, Inputs, Level 2 [Member] |  |  |  |  |  |
Long-term debt: |  |  |  |  |  |
Total long-term debt, fair value |  | 1,910,800,000 |  |  | 1,614,200,000 |
Fair Value, Inputs, Level 2 [Member] | $700 Million 4.875% 2021 Senior Note [Member] |  |  |  |  |  |
Long-term debt: |  |  |  |  |  |
Debt Instrument, Fair Value Disclosure |  | 208,400,000 |  |  | 367,300,000 |
Fair Value, Inputs, Level 2 [Member] | Senior Notes - $1.3 Billion [Member] |  |  |  |  |  |
Long-term debt: |  |  |  |  |  |
Debt Instrument, Fair Value Disclosure |  | 357,400,000 |  |  | 704,000,000 |
Fair Value, Inputs, Level 2 [Member] | $400 Million 5.90% 2020 Senior Notes [Member] |  |  |  |  |  |
Long-term debt: |  |  |  |  |  |
Debt Instrument, Fair Value Disclosure |  | 163,600,000 |  |  | 228,100,000 |
Fair Value, Inputs, Level 2 [Member] | $500 Million 3.95% 2018 Senior Notes [Member] |  |  |  |  |  |
Long-term debt: |  |  |  |  |  |
Debt Instrument, Fair Value Disclosure |  | 318,000,000 |  |  | 312,000,000 |
Fair Value, Inputs, Level 2 [Member] | Five hundred forty million Eight point two five Twenty twenty First Lien Notes [Member] |  |  |  |  |  |
Long-term debt: |  |  |  |  |  |
Debt Instrument, Fair Value Disclosure |  | 512,700,000 |  |  | 0 |
Fair Value, Inputs, Level 2 [Member] | Five hundred Forty-four Million Seven Point Seven Five Twenty Twenty Second Lien Notes [Member] |  |  |  |  |  |
Long-term debt: |  |  |  |  |  |
Debt Instrument, Fair Value Disclosure |  | 348,200,000 |  | $ 397,200,000 | 0 |
Fair Value, Inputs, Level 2 [Member] | Revolving Credit Facility [Member] |  |  |  |  |  |
Long-term debt: |  |  |  |  |  |
Revolving loan, fair value |  | 0 |  |  | 0 |
Fair Value, Inputs, Level 2 [Member] | Interest Rate Swap [Member] |  |  |  |  |  |
Long-term debt: |  |  |  |  |  |
Fair Value Adjustment to Interest Rate Hedge |  | 2,500,000 |  |  | 2,800,000 |
Reported Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] |  |  |  |  |  |
Long-term debt: |  |  |  |  |  |
Total long-term debt, carrying value |  | 2,887,400,000 |  |  | 2,843,300,000 |
Reported Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | $700 Million 4.875% 2021 Senior Note [Member] |  |  |  |  |  |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] |  |  |  |  |  |
Senior Notes, Noncurrent |  | 422,900,000 |  |  | 689,500,000 |
Reported Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | Senior Notes - $1.3 Billion [Member] |  |  |  |  |  |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] |  |  |  |  |  |
Senior Notes, Noncurrent |  | 795,100,000 |  |  | 1,279,900,000 |
Reported Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | $400 Million 5.90% 2020 Senior Notes [Member] |  |  |  |  |  |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] |  |  |  |  |  |
Senior Notes, Noncurrent |  | 325,800,000 |  |  | 393,700,000 |
Reported Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | $500 Million 3.95% 2018 Senior Notes [Member] |  |  |  |  |  |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] |  |  |  |  |  |
Senior Notes, Noncurrent |  | 434,000,000 |  |  | 477,400,000 |
Reported Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | Five hundred forty million Eight point two five Twenty twenty First Lien Notes [Member] |  |  |  |  |  |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] |  |  |  |  |  |
Senior Notes, Noncurrent |  | 504,900,000 |  |  | 0 |
Reported Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | Five hundred Forty-four Million Seven Point Seven Five Twenty Twenty Second Lien Notes [Member] |  |  |  |  |  |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] |  |  |  |  |  |
Senior Notes, Noncurrent |  | 402,200,000 |  |  | 0 |
Reported Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | Revolving Credit Facility [Member] |  |  |  |  |  |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] |  |  |  |  |  |
Senior Notes, Noncurrent |  | 0 |  |  | 0 |
Reported Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | Interest Rate Swap [Member] |  |  |  |  |  |
Long-term debt: |  |  |  |  |  |
Fair Value Adjustment to Interest Rate Hedge |  | $ 2,500,000 |  |  | $ 2,800,000 |
[1] | During the first quarter of 2015, we purchased $58.3 million of outstanding 4.875 percent senior notes that were trading at a discount of 52.0 percent which resulted in a gain on extinguishment of $20.0 million. In addition, on March 27, 2015, we exchanged as part of a tender offer $208.5 million of the 4.875 percent senior notes for $170.3 million of the 7.75 percent second lien notes at a discount of $46.0 million based on an imputed interest rate of 15.55 percent, resulting in a gain on extinguishment of $83.1 million, net of amounts expensed for unamortized original issue discount and deferred origination fees. As of June 30, 2015, the $700.0 million 4.875 percent senior notes were recorded at a par value of $423.2 million less unamortized discounts of $0.3 million, based on an imputed interest rate of 4.89 percent. As of December 31, 2014, the $700.0 million 4.875 percent senior notes were recorded at a par value of $690.0 million less unamortized discounts of $0.5 million based on an imputed interest rate of 4.88 percent.
[2] | During the first quarter of 2015, we purchased $1.3 million of outstanding 5.90 percent senior notes that were trading at a discount of 58.0 percent, which resulted in a gain on extinguishment of $0.3 million. In addition, on March 27, 2015, we exchanged as part of a tender offer $67.0 million of the 5.90 percent senior notes for $57.5 million of the 7.75 percent second lien notes at a discount of $15.5 million based on an imputed interest rate of 15.55 percent, resulting in a gain on extinguishment of $24.5 million, net of amounts expensed for unamortized original issue discount and deferred origination fees. As of June 30, 2015, the $400.0 million 5.90 percent senior notes were recorded at a par value of $326.8 million less unamortized discounts of $1.0 million, based on an imputed interest rate of 5.98 percent. As of December 31, 2014, the $400.0 million 5.90 percent senior notes were recorded at a par value of $395.0 million less unamortized discounts of $1.3 million based on an imputed interest rate of 5.98 percent.
[3] | During the first quarter of 2015, we purchased $44.0 million of outstanding 3.95 percent senior notes that were trading at a discount of 77.5 percent, which resulted in a gain on the extinguishment of debt of $7.1 million. As of June 30, 2015, the $500.0 million 3.95 percent senior notes were recorded at a par value of $436.0 million less unamortized discounts of $2.0 million, based on an imputed interest rate of 6.22 percent. As of December 31, 2014, the $500.0 million 3.95 percent senior notes were recorded at a par value of $480.0 million less unamortized discounts of $2.6 million based on an imputed interest rate of 5.17 percent.
[4] | As of June 30, 2015, no loans were drawn under the ABL Facility and we had total availability of $532.7 million as a result of borrowing base limitations. As of June 30, 2015, the principal amount of letter of credit obligations totaled $198.0 million and foreign exchange hedge obligations totaled $2.1 million, thereby further reducing available borrowing capacity on our ABL Facility to $332.6 million.
[5] | As of December 31, 2014, we had no revolving loans drawn under the revolving credit agreement which had $1.125 billion availability. As of December 31, 2014, the principal amount of letter of credit obligations totaled $149.5 million, thereby further reducing available borrowing capacity on the revolving credit agreement to $975.5 million.

X
- Definition Fair Value Adjustment to Interest Rate Hedge + References No definition available. + Details
Name: | clf_FairValueAdjustmenttoInterestRateHedge
Namespace Prefix: | clf_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Long Term Debt Noncurrent Fair Value [Abstract] + References No definition available. + Details
Name: | clf_LongTermDebtNoncurrentFairValueAbstract
Namespace Prefix: | clf_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Face (par) amount of debt instrument at time of issuance. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 55 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=34725769&loc=d3e28878-108400 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6451184&loc=d3e28551-108399 + Details
Name: | us-gaap_DebtInstrumentFaceAmount
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Fair value portion of debt instrument payable, including, but not limited to, notes payable and loans payable. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 10 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=35750535&loc=d3e13433-108611 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=35750535&loc=d3e13476-108611 + Details
Name: | us-gaap_DebtInstrumentFairValue
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details
Name: | us-gaap_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.16) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03.16) -URI http://asc.fasb.org/extlink&oid=6879938&loc=d3e572229-122910 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 19, 20, 22 -Article 5 + Details
Name: | us-gaap_LineOfCredit
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Fair value portion of contractual arrangement with a lender under which borrowings can be made up to a specific amount at any point in time. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Line-of-Credit Arrangement -URI http://asc.fasb.org/extlink&oid=6517033 + Details
Name: | us-gaap_LinesOfCreditFairValueDisclosure
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Carrying amount of long-term debt, net of unamortized discount or premium, including current and noncurrent amounts. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.16) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03.16) -URI http://asc.fasb.org/extlink&oid=6879938&loc=d3e572229-122910 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 16 -Article 9 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 20, 22 -Article 5 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 16 -Article 7 + Details
Name: | us-gaap_LongTermDebt
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition The fair value amount of long-term debt whether such amount is presented as a separate caption or as a parenthetical disclosure. Additionally, this element may be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. The element may be used in both the balance sheet and disclosure in the same submission. + References No definition available. + Details
Name: | us-gaap_LongTermDebtFairValue
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Carrying amount of long-term debt, net of unamortized discount or premium, excluding amounts to be repaid within one year or the normal operating cycle, if longer (current maturities). Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 22 -Article 5 + Details
Name: | us-gaap_LongTermDebtNoncurrent
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Carrying value as of the balance sheet date of Notes with the highest claim on the assets of the issuer in case of bankruptcy or liquidation (with maturities initially due after one year or beyond the operating cycle if longer), excluding current portion. Senior note holders are paid off in full before any payments are made to junior note holders. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 22 -Article 5 + Details
Name: | us-gaap_SeniorLongTermNotes
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Details
Name: | us-gaap_DebtInstrumentAxis=clf_SevenHundredMillionFourPointEightSevenFiveTwoThousandTwentyoneSeniorNoteMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=clf_SeniorNotesOnePointThreeBillionMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=clf_FourHundredMillionFivePointNineZeroTwoThousandAndTwentySeniorNoteMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=clf_FiveHundredMillionThreePointNineFiveTwoThousandEighteenSeniorNoteMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=clf_FivehundredfortymillionEightpointtwofiveTwentytwentyFirstLienNotesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=clf_FivehundredFortyfourMillionSevenPointSevenFiveTwentyTwentySecondLienNotesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=us-gaap_RevolvingCreditFacilityMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=us-gaap_InterestRateSwapMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel2Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FairValueByMeasurementBasisAxis=us-gaap_CarryingReportedAmountFairValueDisclosureMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |