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SHAREHOLDERS' EQUITY | 6 Months Ended
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Jun. 30, 2016
Equity [Abstract] |
SHAREHOLDERS' EQUITY | NOTE 16 - SHAREHOLDERS' EQUITY (DEFICIT) The following table reflects the changes in shareholders' equity (deficit) attributable to both Cliffs and the noncontrolling interests primarily related to Tilden and Empire of which Cliffs owns 85 percent and 79 percent, respectively, for the three and six months ended June 30, 2016 and June 30, 2015:
| (In Millions)
| Cliffs Shareholders’ Equity (Deficit) |  | Noncontrolling Interest (Deficit) |  | Total Equity (Deficit)
December 31, 2015 | $ | (1,981.4 | ) |  | $ | 169.8 |  |  | $ | (1,811.6 | )
Comprehensive income |  |  |  |  |
Net income | 120.8 |  |  | 25.5 |  |  | 146.3 |
Other comprehensive income | 9.0 |  |  | 1.3 |  |  | 10.3 |
Total comprehensive income | 129.8 |  |  | 26.8 |  |  | 156.6 |
Issuance of common shares | 14.4 |  |  | — |  |  | 14.4 |
Stock and other incentive plans | 6.5 |  |  | — |  |  | 6.5 |
Distributions of partnership equity | — |  |  | (41.4 | ) |  | (41.4 | )
Undistributed losses to noncontrolling interest | — |  |  | (3.4 | ) |  | (3.4 | )
June 30, 2016 | $ | (1,830.7 | ) |  | $ | 151.8 |  |  | $ | (1,678.9 | )
| (In Millions)
| Cliffs Shareholders’ Equity (Deficit) |  | Noncontrolling Interest (Deficit) |  | Total Equity (Deficit)
December 31, 2014 | $ | (1,431.3 | ) |  | $ | (303.0 | ) |  | $ | (1,734.3 | )
Comprehensive income (loss) |  |  |  |  |
Net loss | (699.6 | ) |  | 3.1 |  |  | (696.5 | )
Other comprehensive income (loss) | 216.9 |  |  | (10.0 | ) |  | 206.9 |
Total comprehensive loss | (482.7 | ) |  | (6.9 | ) |  | (489.6 | )
Effect of deconsolidation | — |  |  | 528.2 |  |  | 528.2 |
Stock and other incentive plans | 3.0 |  |  | — |  |  | 3.0 |
Preferred share dividends | (12.8 | ) |  | — |  |  | (12.8 | )
Distributions to noncontrolling interest | — |  |  | (34.7 | ) |  | (34.7 | )
June 30, 2015 | $ | (1,923.8 | ) |  | $ | 183.6 |  |  | $ | (1,740.2 | )
The following table reflects the changes in Accumulated other comprehensive income (loss) related to Cliffs shareholders’ equity for June 30, 2016 and June 30, 2015:
| (In Millions)
| Changes in Pension and Other Post-Retirement Benefits, 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, 2015 | $ | (241.4 | ) |  | $ | 0.1 |  |  | $ | 220.7 |  |  | $ | 2.6 |  |  | $ | (18.0 | )
Other comprehensive income (loss) before reclassifications | (1.5 | ) |  | (0.1 | ) |  | 4.4 |  |  | (3.4 | ) |  | (0.6 | )
Net loss reclassified from accumulated other comprehensive income (loss) | 6.3 |  |  | — |  |  | — |  |  | — |  |  | 6.3 |
Balance March 31, 2016 | $ | (236.6 | ) |  | $ | — |  |  | $ | 225.1 |  |  | $ | (0.8 | ) |  | $ | (12.3 | )
Other comprehensive income before reclassifications | (0.4 | ) |  | — |  |  | (2.7 | ) |  | 0.1 |  |  | (3.0 | )
Net loss (gain) reclassified from accumulated other comprehensive income (loss) | 6.3 |  |  | — |  |  | — |  |  | — |  |  | 6.3 |
Balance June 30, 2016 | $ | (230.7 | ) |  | $ | — |  |  | $ | 222.4 |  |  | $ | (0.7 | ) |  | $ | (9.0 | )
| (In Millions)
| Changes in Pension and Other Post-Retirement Benefits, 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, 2014 | $ | (291.1 | ) |  | $ | (1.0 | ) |  | $ | 64.4 |  |  | $ | (18.1 | ) |  | $ | (245.8 | )
Other comprehensive income (loss) before reclassifications | 9.3 |  |  | 2.8 |  |  | (14.7 | ) |  | (7.1 | ) |  | (9.7 | )
Net loss (gain) reclassified from accumulated other comprehensive income (loss) | 30.3 |  |  | (2.0 | ) |  | 182.7 |  |  | 6.3 |  |  | 217.3 |
Balance March 31, 2015 | $ | (251.5 | ) |  | $ | (0.2 | ) |  | $ | 232.4 |  |  | $ | (18.9 | ) |  | $ | (38.2 | )
Other comprehensive income (loss) before reclassifications | 1.3 |  |  | 1.0 |  |  | 1.2 |  |  | 0.5 |  |  | 4.0 |
Net loss (gain) reclassified from accumulated other comprehensive income (loss) | (1.6 | ) |  | (0.9 | ) |  | — |  |  | 7.8 |  |  | 5.3 |
Balance June 30, 2015 | $ | (251.8 | ) |  | $ | (0.1 | ) |  | $ | 233.6 |  |  | $ | (10.6 | ) |  | $ | (28.9 | )
The following table reflects the details about Accumulated other comprehensive income (loss) components related to Cliffs shareholders’ equity for the three and six months ended June 30, 2016:
|  | (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
| Three Months Ended June 30, |  | Six Months Ended June 30, |
| 2016 |  | 2015 |  | 2016 |  | 2015 |
Amortization of pension and postretirement benefit liability: |  |  |  |  |  |  |  |  |  |
Prior service costs (1) |  | $ | (0.4 | ) |  | $ | (0.3 | ) |  | $ | (0.7 | ) |  | $ | (0.6 | ) |  |
Net actuarial loss (1) |  | 6.7 |  |  | 5.4 |  |  | 13.3 |  |  | 13.9 |  |  |
Settlements/curtailments (1) |  | — |  |  | — |  |  | — |  |  | 0.3 |  |  |
Effect of deconsolidation (2) |  | — |  |  | (6.7 | ) |  | — |  |  | 15.1 |  |  | Income (Loss) from Discontinued Operations, net of tax
|  | 6.3 |  |  | (1.6 | ) |  | 12.6 |  |  | 28.7 |  |  | Total before taxes
|  | — |  |  | — |  |  | — |  |  | — |  |  | Income tax benefit (expense)
|  | $ | 6.3 |  |  | $ | (1.6 | ) |  | $ | 12.6 |  |  | $ | 28.7 |  |  | Net of taxes
Unrealized gain (loss) on marketable securities: |  |  |  |  |  |  |  |  |  |
Impairment |  | — |  |  | (1.2 | ) |  | — |  |  | (3.2 | ) |  | Other non-operating income (expense)
|  | — |  |  | 0.3 |  |  | — |  |  | 0.3 |  |  | Income tax benefit (expense)
|  | $ | — |  |  | $ | (0.9 | ) |  | $ | — |  |  | $ | (2.9 | ) |  | Net of taxes
Unrealized gain (loss) on foreign currency translation: |  |  |  |  |  |  |  |  |  |
Effect of deconsolidation (2) |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 182.7 |  |  | Income (Loss) from Discontinued Operations, net of tax
|  | — |  |  | — |  |  | — |  |  | — |  |  | Income tax benefit (expense)
|  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 182.7 |  |  | Net of taxes
Unrealized gain (loss) on derivative financial instruments: |  |  |  |  |  |  |  |  |  |
Australian dollar foreign exchange contracts |  | $ | — |  |  | $ | 11.1 |  |  | $ | — |  |  | $ | 20.1 |  |  | Product revenues
|  | — |  |  | (3.3 | ) |  | — |  |  | (6.0 | ) |  | Income tax benefit (expense)
|  | $ | — |  |  | $ | 7.8 |  |  | $ | — |  |  | $ | 14.1 |  |  | Net of taxes
Total Reclassifications for the Period |  | $ | 6.3 |  |  | $ | 5.3 |  |  | $ | 12.6 |  |  | $ | 222.6 |  |  |
(1) | These accumulated other comprehensive income components are included in the computation of net periodic benefit cost. See NOTE 7 - PENSIONS AND OTHER POSTRETIREMENT BENEFITS for further information.
(2) | Represents Canadian accumulated currency translation adjustments that were deconsolidated. See NOTE 14 - DISCONTINUED OPERATIONS for further information.

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(d),(e)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21484-112644 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB TOPIC 4.E) -URI http://asc.fasb.org/extlink&oid=27010918&loc=d3e74512-122707 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21488-112644 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.29-31) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 4 -Subparagraph (SAB TOPIC 4.C) -URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187143-122770 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644 Reference 8: 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 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6405834&loc=d3e23285-112656 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Preferred Stock -URI http://asc.fasb.org/extlink&oid=6521494 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21564-112644 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 4 -Section E Reference 15: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 4 -Section C + Details
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