Quarterly report pursuant to Section 13 or 15(d)

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

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ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
 6 Months Ended
Jun. 30, 2022
Equity [Abstract]  
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
NOTE 15 - ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
The following tables reflect the changes in Accumulated other comprehensive income related to Cliffs shareholders’ equity:
(In Millions)
Three Months Ended
June 30,		 Six Months Ended
June 30,
2022 2021 2022 2021
Foreign Currency Translation
Beginning balance $ 1  $ 2  $ 1  $ 3 
Other comprehensive loss before reclassifications (2) —  (2) (1)
Ending balance $ (1) $ 2  $ (1) $ 2 
Derivative Instruments
Beginning balance $ 164  $ 6  $ 68  $ (1)
Other comprehensive income (loss) before reclassifications (30) 64  138  74 
Income tax 8  (13) (31) (15)
Other comprehensive income before reclassifications, net of tax (22) 51  107  59 
Gains reclassified from AOCI to net income1
(42) (5) (84) (6)
Income tax expense2
9  1  18  1 
Net gains reclassified from AOCI to net income (33) (4) (66) (5)
Ending balance $ 109  $ 53  $ 109  $ 53 
Pension and OPEB
Beginning balance $ 550  $ (128) $ 549  $ (135)
Net actuarial loss reclassified from AOCI to net income3
—  9  1  18 
Income tax benefit2
—  (2) —  (4)
Net losses reclassified from AOCI to net income —  7  1  14 
Ending balance $ 550  $ (121) $ 550  $ (121)
Total AOCI Ending Balance $ 658  $ (66) $ 658  $ (66)
1 Amounts recognized in Cost of goods sold in the Statements of Unaudited Condensed Consolidated Operations.
2 Amounts recognized in Income tax expense 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.