Quarterly report pursuant to Section 13 or 15(d)

SHAREHOLDERS' EQUITY (Tables)

v3.8.0.1
SHAREHOLDERS' EQUITY (Tables)
 3 Months Ended
Mar. 31, 2018
Equity [Abstract]  
Schedule of Stockholders Equity
The following table reflects the changes in shareholders' deficit attributable to both us and the noncontrolling interests, primarily related to Tilden and Empire. We own 100% of both mines as of March 31, 2018 and 85% and 79% of each mine, respectively, as of March 31, 2017:
 
(In Millions)
 
Cliffs
Shareholders’
Equity (Deficit)
 
Noncontrolling
Interest
 
Total Equity
(Deficit)
December 31, 2017
$
(444.3
)
 
$
0.2

 
$
(444.1
)
Adoption of accounting standard (Note 2)
34.0

 
—

 
34.0

Comprehensive loss
 
 
 
 
 
Net loss
(84.3
)
 
—

 
(84.3
)
Other comprehensive income
7.7

 
—

 
7.7

Total comprehensive loss
(76.6
)
 
—

 
(76.6
)
Stock and other incentive plans
1.9

 
—

 
1.9

March 31, 2018
$
(485.0
)
 
$
0.2

 
$
(484.8
)
 
(In Millions)
 
Cliffs
Shareholders’
Equity (Deficit)
 
Noncontrolling
Interest
 
Total Equity
(Deficit)
December 31, 2016
$
(1,464.3
)
 
$
133.8

 
$
(1,330.5
)
Comprehensive loss
 
 
 
 
 
Net loss
(28.1
)
 
(1.7
)
 
(29.8
)
Other comprehensive loss
(3.0
)
 
(5.0
)
 
(8.0
)
Total comprehensive loss
(31.1
)
 
(6.7
)
 
(37.8
)
Issuance of common shares
661.3

 
—

 
661.3

Stock and other incentive plans
4.0

 
—

 
4.0

March 31, 2017
$
(830.1
)
 
$
127.1

 
$
(703.0
)
Schedule of Accumulated Other Comprehensive Income (Loss)
The following table reflects the changes in Accumulated other comprehensive loss related to Cliffs shareholders’ deficit:
 
(In Millions)
 
Changes in Pension and Other Post-Retirement Benefits,
net of tax
 
Unrealized Net Gain on Foreign Currency Translation
 
Net Unrealized Gain (Loss) on Derivative Financial Instruments, net of tax
 
Accumulated Other Comprehensive Loss
December 31, 2017
$
(263.9
)
 
$
225.4

 
$
(0.5
)
 
$
(39.0
)
Other comprehensive income before reclassifications
0.5

 
0.7

 
0.4

 
1.6

Net loss (gain) reclassified from accumulated other comprehensive loss
6.2

 
—

 
(0.1
)
 
6.1

March 31, 2018
$
(257.2
)
 
$
226.1

 
$
(0.2
)
 
$
(31.3
)
 
(In Millions)
 
Changes in Pension and Other Post-Retirement Benefits, net of tax
 
Unrealized Net Gain (Loss) on Foreign Currency Translation
 
Accumulated Other Comprehensive Loss
December 31, 2016
$
(260.6
)
 
$
239.3

 
$
(21.3
)
Other comprehensive income (loss) before reclassifications
3.3

 
(12.7
)
 
(9.4
)
Net loss reclassified from accumulated other comprehensive loss
6.4

 
—

 
6.4

March 31, 2017
$
(250.9
)
 
$
226.6

 
$
(24.3
)
Details of Accumulated Other Comprehensive Income (Loss) Components

The following table reflects the details about Accumulated other comprehensive loss components related to Cliffs shareholders’ deficit:
 
 
(In Millions)
 
 
Details about Accumulated Other Comprehensive Loss Components
 
Amount of (Gain)/Loss Reclassified into Income
 
Affected Line Item in the Statement of Unaudited Condensed Consolidated Operations
 
Three Months Ended
March 31,
 
 
2018
 
2017
 
Amortization of pension and OPEB liability:
 
 
 
 
 
 
Prior service credits
 
$
(0.3
)
 
$
(0.1
)
 
Other non-operating income
Net actuarial loss
 
6.5

 
6.5

 
Other non-operating income
 
 
$
6.2

 
$
6.4

 
Net of taxes
 
 
 
 
 
 
 
Unrealized loss on derivative financial instruments:
 
 
 
 
 
 
Commodity contracts
 
$
(0.1
)
 
$
—

 
Cost of goods sold and operating expenses
 
 
$
(0.1
)
 
$
—

 
Net of taxes
 
 
 
 
 
 
 
Total reclassifications for the period, net of tax
 
$
6.1

 
$
6.4