XML 44 R22.htm IDEA: XBRL DOCUMENT
v3.25.2

ACCUMULATED OTHER COMPREHENSIVE INCOME | 6 Months Ended
--- | ---
Jun. 30, 2025
Equity [Abstract] |
ACCUMULATED OTHER COMPREHENSIVE INCOME | NOTE 15 - ACCUMULATED OTHER COMPREHENSIVE INCOME 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
- 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://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04(19)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(21)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04(23)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/220/tableOfContent + Details
Name: | us-gaap_ComprehensiveIncomeNoteTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types: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