Cleveland-Cliffs Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

DERIVATIVE INSTRUMENTS (Tables)

DERIVATIVE INSTRUMENTS (Tables)

6 Months Ended

Jun. 30, 2017

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule Of Derivative Instruments In Statement Of Financial Position, Fair Value

The following table presents the fair value of our derivative instruments and the classification of each in the Statements of Unaudited Condensed Consolidated Financial Position as of June 30, 2017 and December 31, 2016:



	(In Millions)
	Derivative Assets						Derivative Liabilities
	June 30, 2017			December 31, 2016			June 30, 2017			December 31, 2016
Derivative Instrument	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Customer supply agreements	Other current assets	66.4		Other current assets	21.3			—			—
Provisional pricing arrangements	Other current assets	6.1		Other current assets	10.3		Other current liabilities	20.8		Other current liabilities	0.5
Commodity contracts		—		Other current assets	1.5			—			—
Total derivatives not designated as hedging instruments under ASC 815		$	72.5		$	33.1		$	20.8		$	0.5

Schedule Of Derivatives Not Designated As Hedging Instruments Statements Of Financial Performance Location Table

The following summarizes the effect of our derivatives that are not designated as hedging instruments in the Statements of Unaudited Condensed Consolidated Operations for the three and six months ended June 30, 2017 and 2016:



(In Millions)
Derivatives Not Designated as Hedging Instruments	Location of Gain (Loss) Recognized in Income on Derivative	Amount of Gain (Loss) Recognized in Income on Derivative
		Three Months Ended June 30,					Six Months Ended June 30,
		2017			2016		2017			2016
Customer Supply Agreements	Product revenues	51.9			19.5		69.6			19.9
Provisional Pricing Arrangements	Product revenues	(35.4		)	1.8		(19.8		)	0.3
Commodity Contracts	Cost of goods sold and operating expenses	—			—		(1.3		)	—
Total		$	16.5		$	21.3	$	48.5		$	20.2