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QUARTERLY RESULTS OF OPERATIONS (Tables) | 12 Months Ended
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Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract] |
Schedule of Quarterly Financial Information [Table Text Block] | The sum of quarterly EPS may not equal EPS for the year due to discrete quarterly calculations.
| (In Millions, Except Per Share Amounts)
2015
Quarters |  |
First |  | Second |  | Third |  | Fourth |  | Year
Revenues from product sales and services | $ | 446.0 |  |  | $ | 498.1 |  |  | $ | 593.2 |  |  | $ | 476.0 |  |  | $ | 2,013.3 |
Sales margin | 80.8 |  |  | 57.3 |  |  | 55.1 |  |  | 43.3 |  |  | 236.5 |
Income (Loss) from Continuing Operations | $ | 166.8 |  |  | $ | (38.2 | ) |  | $ | 49.9 |  |  | $ | (34.8 | ) |  | $ | 143.7 |
Loss (Income) from Continuing Operations attributable to Noncontrolling Interest | 1.9 |  |  | (5.0 | ) |  | 4.6 |  |  | (2.4 | ) |  | (8.6 | )
Net Income (Loss) from Continuing Operations attributable to Cliffs shareholders | 168.7 |  |  | (43.2 | ) |  | 54.5 |  |  | (37.2 | ) |  | 135.1 |
Loss from Discontinued Operations, net of tax | (928.5 | ) |  | 103.4 |  |  | (43.9 | ) |  | (23.1 | ) |  | (884.4 | )
NET INCOME (LOSS) ATTRIBUTABLE TO CLIFFS SHAREHOLDERS | (759.8 | ) |  | 60.2 |  |  | 10.6 |  |  | (60.3 | ) |  | (749.3 | )
PREFERRED STOCK DIVIDENDS | (12.8 | ) |  | — |  |  | (25.6 | ) |  | — |  |  | (38.4 | )
NET INCOME (LOSS) ATTRIBUTABLE TO CLIFFS COMMON SHAREHOLDERS | $ | (772.6 | ) |  | $ | 60.2 |  |  | $ | (15.0 | ) |  | $ | (60.3 | ) |  | $ | (787.7 | )
Earnings per common share attributable to Cliffs common shareholders — Basic: |  |  |  |  |  |  |  |  |
Continuing Operations | $ | 1.02 |  |  | $ | (0.28 | ) |  | $ | 0.19 |  |  | $ | (0.24 | ) |  | $ | 0.63 |
Discontinued Operations | (6.06 | ) |  | 0.67 |  |  | (0.29 | ) |  | (0.15 | ) |  | (5.77 | )
| $ | (5.04 | ) |  | $ | 0.39 |  |  | $ | (0.10 | ) |  | $ | (0.39 | ) |  | $ | (5.14 | )
Earnings per common share attributable to Cliffs common shareholders — Diluted: |  |  |  |  |  |  |  |  |
Continuing Operations | $ | 0.94 |  |  | $ | (0.28 | ) |  | $ | 0.19 |  |  | $ | (0.24 | ) |  | $ | 0.63 |
Discontinued Operations | (5.20 | ) |  | 0.67 |  |  | (0.29 | ) |  | (0.15 | ) |  | (5.76 | )
| $ | (4.26 | ) |  | $ | 0.39 |  |  | $ | (0.10 | ) |  | $ | (0.39 | ) |  | $ | (5.13 | )
The diluted earnings per share calculation for the second, third and fourth quarter of 2015 exclude depositary shares that were anti-dilutive ranging between 25.2 million and 25.6 million and equity plan awards ranging between 0.1 million and 0.3 million that were anti-dilutive. There was no anti-dilution in the first quarter of 2015.
| (In Millions, Except Per Share Amounts)
| 2014
Quarters |  |
First |  | Second |  | Third |  | Fourth |  | Year
Revenues from product sales and services | $ | 615.5 |  |  | $ | 747.7 |  |  | $ | 979.7 |  |  | $ | 1,030.3 |  |  | $ | 3,373.2 |
Sales margin | 190.0 |  |  | 183.5 |  |  | 256.2 |  |  | 256.0 |  |  | 885.7 |
Income (Loss) from Continuing Operations | $ | 69.7 |  |  | $ | 90.9 |  |  | $ | (274.2 | ) |  | $ | 170.0 |  |  | $ | 56.4 |
Loss (Income) from Continuing Operations attributable to Noncontrolling Interest | 0.4 |  |  | (3.6 | ) |  | (2.5 | ) |  | (3.4 | ) |  | (25.9 | )
Net Income (Loss) from Continuing Operations attributable to Cliffs shareholders | $ | 70.1 |  |  | $ | 87.3 |  |  | $ | (276.7 | ) |  | $ | 166.6 |  |  | $ | 30.5 |
Loss from Discontinued Operations, net of tax | (140.4 | ) |  | (76.4 | ) |  | (5,602.9 | ) |  | (1,451.8 | ) |  | (7,254.7 | )
NET INCOME (LOSS) ATTRIBUTABLE TO CLIFFS SHAREHOLDERS | $ | (70.3 | ) |  | $ | 10.9 |  |  | $ | (5,879.6 | ) |  | $ | (1,285.2 | ) |  | $ | (7,224.2 | )
PREFERRED STOCK DIVIDENDS | (12.8 | ) |  | (12.8 | ) |  | (12.8 | ) |  | (12.8 | ) |  | (51.2 | )
NET INCOME (LOSS) ATTRIBUTABLE TO CLIFFS COMMON SHAREHOLDERS | (83.1 | ) |  | (1.9 | ) |  | (5,892.4 | ) |  | (1,298.0 | ) |  | (7,275.4 | )
Earnings per common share attributable to Cliffs common shareholders — Basic: |  |  |  |  |  |  |  |  |
Continuing Operations | $ | 0.37 |  |  | $ | 0.49 |  |  | $ | (1.89 | ) |  | $ | 1.00 |  |  | $ | (0.14 | )
Discontinued Operations | (0.92 | ) |  | (0.50 | ) |  | (36.60 | ) |  | (9.48 | ) |  | (47.38 | )
| $ | (0.55 | ) |  | $ | (0.01 | ) |  | $ | (38.49 | ) |  | $ | (8.48 | ) |  | $ | (47.52 | )
Earnings per common share attributable to Cliffs common shareholders — Diluted: |  |  |  |  |  |  |  |  |
Continuing Operations | $ | 0.37 |  |  | $ | 0.48 |  |  | $ | (1.89 | ) |  | $ | 0.94 |  |  | $ | (0.14 | )
Discontinued Operations | (0.91 | ) |  | (0.50 | ) |  | (36.60 | ) |  | (8.13 | ) |  | (47.38 | )
| $ | (0.54 | ) |  | $ | (0.02 | ) |  | $ | (38.49 | ) |  | $ | (7.19 | ) |  | $ | (47.52 | )
The diluted earnings per share calculation for the first, second and third quarters of 2014 exclude depositary shares that were anti-dilutive totaling 25.2 million. Additionally, the third quarter of 2014 diluted earnings per share calculation also excludes 0.5 million of equity plan awards. There was no anti-dilution for the fourth quarter of 2014.

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