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)

3 Months Ended

Mar. 31, 2018

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:



	(In Millions)
	Derivative Assets						Derivative Liabilities
	March 31, 2018			December 31, 2017			March 31, 2018			December 31, 2017
Derivative Instrument	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Derivatives designated as hedging instruments under ASC 815:
Commodity Contracts		$	—		$	—	Other current liabilities	$	0.2	Other current liabilities	$	0.3
Derivatives not designated as hedging instruments under ASC 815:
Customer supply agreements	Derivative assets	$	91.2	Derivative assets	$	37.9		$	—		$	—
Provisional pricing arrangements	Derivative assets	2.4		Derivative assets	1.5		Other current liabilities	4.2		Other current liabilities	2.4
Total derivatives not designated as hedging instruments under ASC 815		$	93.6		$	39.4		$	4.2		$	2.4
Total derivatives		$	93.6		$	39.4		$	4.4		$	2.7

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:



(In Millions)
Derivatives Not Designated as Hedging Instruments	Location of Income (Loss) Recognized on Derivatives	Amount of Income (Loss) Recognized on Derivatives
		Three Months Ended March 31,
		2018		2017
Customer Supply Agreements	Product revenues	$	41.9	$	17.8
Provisional Pricing Arrangements	Product revenues	3.2		15.7
Commodity Contracts	Cost of goods sold and operating expenses	—		(1.3		)
Total		$	45.1	$	32.2