XML 62 R40.htm IDEA: XBRL DOCUMENT
v3.25.2

ACCUMULATED OTHER COMPREHENSIVE INCOME (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2025
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) | 2025 |  | 2024 |  | 2025 |  | 2024
Foreign Currency Translation |  |  |  |  |  |  |
Beginning balance | $ | (69) |  |  | $ | (1) |  |  | $ | (70) |  |  | $ | — |
Other comprehensive income (loss) before reclassifications | 108 |  |  | — |  |  | 109 |  |  | (1) |
Income tax | (6) |  |  | — |  |  | (6) |  |  | — |
Other comprehensive income (loss) before reclassifications, net of tax | 102 |  |  | — |  |  | 103 |  |  | (1) |
Ending balance | $ | 33 |  |  | $ | (1) |  |  | $ | 33 |  |  | $ | (1) |
Derivative Instruments |  |  |  |  |  |  |
Beginning balance | $ | 48 |  |  | $ | (150) |  |  | $ | (53) |  |  | $ | (170) |
Other comprehensive income (loss) before reclassifications | (93) |  |  | 2 |  |  | 8 |  |  | (31) |
Income tax | 22 |  |  | — |  |  | (2) |  |  | 8 |
Other comprehensive income (loss) before reclassifications, net of tax | (71) |  |  | 2 |  |  | 6 |  |  | (23) |
Losses (gains) reclassified from AOCI to net income (loss)1 | 34 |  |  | 61 |  |  | 66 |  |  | 120 |
Income tax expense (benefit)2 | (8) |  |  | (16) |  |  | (16) |  |  | (30) |
Net losses (gains) reclassified from AOCI to net income (loss) | 26 |  |  | 45 |  |  | 50 |  |  | 90 |
Ending balance | $ | 3 |  |  | $ | (103) |  |  | $ | 3 |  |  | $ | (103) |
Pension and OPEB |  |  |  |  |  |  |
Beginning balance | $ | 1,633 |  |  | $ | 1,799 |  |  | $ | 1,660 |  |  | $ | 1,827 |
Gains reclassified from AOCI to net income (loss)3 | (34) |  |  | (39) |  |  | (69) |  |  | (77) |
Income tax expense 2 | 9 |  |  | 10 |  |  | 17 |  |  | 20 |
Net gains reclassified from AOCI to net income (loss) | (25) |  |  | (29) |  |  | (52) |  |  | (57) |
Ending balance | $ | 1,608 |  |  | $ | 1,770 |  |  | $ | 1,608 |  |  | $ | 1,770 |
Total AOCI Ending Balance | $ | 1,644 |  |  | $ | 1,666 |  |  | $ | 1,644 |  |  | $ | 1,666 |
1 Amounts recognized in Revenues and Cost of goods sold for sales swaps and commodity purchase swaps, respectively, within the Statements of Unaudited Condensed Consolidated Operations.
2 Amounts recognized in Income tax benefit 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.

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

X
- 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
Name: | us-gaap_ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration