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ACCUMULATED OTHER COMPREHENSIVE INCOME (Tables) | 6 Months Ended
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Jun. 30, 2024
Equity [Abstract] |
Schedule of Accumulated Other Comprehensive Income (Loss) | The components of Accumulated other comprehensive income within Cliffs shareholders’ equity and related tax effects allocated to each are shown below:
| Three Months Ended June 30, |  | Six Months Ended June 30,
(In millions) | 2024 |  | 2023 |  | 2024 |  | 2023
Foreign Currency Translation |  |  |  |  |  |  |
Beginning balance | $ | (1) |  |  | $ | (1) |  |  | $ | — |  |  | $ | (1) |
Other comprehensive loss before reclassifications | — |  |  | — |  |  | (1) |  |  | — |
Ending balance | $ | (1) |  |  | $ | (1) |  |  | $ | (1) |  |  | $ | (1) |
Derivative Instruments |  |  |  |  |  |  |
Beginning balance | $ | (150) |  |  | $ | (168) |  |  | $ | (170) |  |  | $ | (16) |
Other comprehensive gain (loss) before reclassifications | 2 |  |  | (31) |  |  | (31) |  |  | (208) |
Income tax benefit | — |  |  | 7 |  |  | 8 |  |  | 51 |
Other comprehensive gain (loss) before reclassifications, net of tax | 2 |  |  | (24) |  |  | (23) |  |  | (157) |
Losses reclassified from AOCI to net income (loss)1 | 61 |  |  | 55 |  |  | 120 |  |  | 30 |
Income tax benefit 2 | (16) |  |  | (13) |  |  | (30) |  |  | (7) |
Net losses reclassified from AOCI to net income (loss) | 45 |  |  | 42 |  |  | 90 |  |  | 23 |
Ending balance | $ | (103) |  |  | $ | (150) |  |  | $ | (103) |  |  | $ | (150) |
Pension and OPEB |  |  |  |  |  |  |
Beginning balance | $ | 1,799 |  |  | $ | 1,820 |  |  | $ | 1,827 |  |  | $ | 1,847 |
Gains reclassified from AOCI to net income (loss)3 | (39) |  |  | (36) |  |  | (77) |  |  | (71) |
Income tax expense 2 | 10 |  |  | 10 |  |  | 20 |  |  | 18 |
Net gains reclassified from AOCI to net income (loss) | (29) |  |  | (26) |  |  | (57) |  |  | (53) |
Ending balance | $ | 1,770 |  |  | $ | 1,794 |  |  | $ | 1,770 |  |  | $ | 1,794 |
Total AOCI Ending Balance | $ | 1,666 |  |  | $ | 1,643 |  |  | $ | 1,666 |  |  | $ | 1,643 |
1 Amounts recognized in Cost of goods sold in the Statements of Unaudited Condensed Consolidated Operations.
2 Amounts recognized in Income tax benefit (expense) in the Statements of Unaudited Condensed Consolidated Operations.
3 Amounts recognized in Net periodic benefit credits other than service cost component in the Statements of Unaudited Condensed Consolidated Operations.

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- Definition Tabular disclosure of the components of accumulated other comprehensive income (loss). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 14A -Publisher FASB -URI https://asc.fasb.org//1943274/2147482790/220-10-45-14A Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 830 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481674/830-30-50-1 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 830 -SubTopic 30 -Name Accounting Standards Codification -Section 45 -Paragraph 20 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481694/830-30-45-20 + Details
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