XML 45 R22.htm IDEA: XBRL DOCUMENT
v3.21.2

ACCUMULATED OTHER COMPREHENSIVE LOSS | 6 Months Ended
--- | ---
Jun. 30, 2021
Equity [Abstract] |
ACCUMULATED OTHER COMPREHENSIVE LOSS | NOTE 14 - ACCUMULATED OTHER COMPREHENSIVE LOSS The following tables reflect the changes in Accumulated other comprehensive loss related to Cliffs shareholders’ equity:
| (In Millions)
| Postretirement Benefit Liability, net of tax |  | Foreign Currency Translation |  | Derivative Financial Instruments, net of tax |  | Accumulated Other Comprehensive Loss
December 31, 2020 | $ | (135) |  |  | $ | 3 |  |  | $ | (1) |  |  | $ | (133) |
Other comprehensive income (loss) before reclassifications | — |  |  | (1) |  |  | 8 |  |  | 7 |
Net (income) loss reclassified from accumulated other comprehensive loss | 7 |  |  | — |  |  | (1) |  |  | 6 |
March 31, 2021 | $ | (128) |  |  | $ | 2 |  |  | $ | 6 |  |  | $ | (120) |
Other comprehensive income before reclassifications | — |  |  | — |  |  | 51 |  |  | 51 |
Net (income) loss reclassified from accumulated other comprehensive loss | 7 |  |  | — |  |  | (4) |  |  | 3 |
June 30, 2021 | $ | (121) |  |  | $ | 2 |  |  | $ | 53 |  |  | $ | (66) |
| (In Millions)
| Postretirement Benefit Liability, net of tax |  | Foreign Currency Translation |  | Derivative Financial Instruments, net of tax |  | Accumulated Other Comprehensive Loss
December 31, 2019 | $ | (316) |  |  | $ | — |  |  | $ | (3) |  |  | $ | (319) |
Other comprehensive loss before reclassifications | — |  |  | (1) |  |  | (5) |  |  | (6) |
Net loss reclassified from accumulated other comprehensive loss | 6 |  |  | — |  |  | 2 |  |  | 8 |
March 31, 2020 | $ | (310) |  |  | $ | (1) |  |  | $ | (6) |  |  | $ | (317) |
Other comprehensive income before reclassifications | — |  |  | 1 |  |  | 1 |  |  | 2 |
Net loss reclassified from accumulated other comprehensive loss | 6 |  |  | — |  |  | 3 |  |  | 9 |
June 30, 2020 | $ | (304) |  |  | $ | — |  |  | $ | (2) |  |  | $ | (306) |
The following table reflects the details about Accumulated other comprehensive loss components reclassified from Cliffs shareholders’ equity:
|  | (In Millions) |  |
Details about Accumulated Other Comprehensive Loss Components |  | Amount of (Income)/Loss Reclassified into Income, Net of Tax |  | Affected Line Item in the Statement of Unaudited Condensed Consolidated Operations
| Three Months Ended June 30, |  | Six Months Ended June 30, |
| 2021 |  | 2020 |  | 2021 |  | 2020 |
Changes in pension and OPEB: |  |  |  |  |  |  |  |  |  |
Prior service credits |  | $ | — |  |  | $ | (1) |  |  | $ | — |  |  | $ | (1) |  |  | Net periodic benefit credits other than service cost component
Net actuarial loss |  | 9 |  |  | 8 |  |  | 18 |  |  | 15 |  |  | Net periodic benefit credits other than service cost component
|  | 9 |  |  | 7 |  |  | 18 |  |  | 14 |  |  | Total before taxes
Income tax benefit |  | (2) |  |  | (1) |  |  | (4) |  |  | (2) |  |  | Income tax benefit (expense)
Net of taxes |  | $ | 7 |  |  | $ | 6 |  |  | $ | 14 |  |  | $ | 12 |  |  |
Changes in derivative financial instruments: |  |  |  |  |  |  |  |  |  |
Commodity contracts |  | $ | (5) |  |  | $ | 4 |  |  | $ | (6) |  |  | $ | 7 |  |  | Cost of goods sold
Income tax (benefit) expense |  | 1 |  |  | (1) |  |  | 1 |  |  | (2) |  |  | Income tax benefit (expense)
Net of taxes |  | $ | (4) |  |  | $ | 3 |  |  | $ | (5) |  |  | $ | 5 |  |  |
Total reclassifications for the period, net of tax |  | $ | 3 |  |  | $ | 9 |  |  | $ | 9 |  |  | $ | 17 |  |  |

X
- 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -URI http://asc.fasb.org/topic&trid=2134417 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(21)) -URI http://asc.fasb.org/extlink&oid=120395209&loc=SL114868664-224227 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04(23)) -URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04(19)) -URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263 + Details
Name: | us-gaap_ComprehensiveIncomeNoteTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_EquityAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration