Quarterly report pursuant to Section 13 or 15(d)

ACCUMULATED OTHER COMPREHENSIVE INCOME

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ACCUMULATED OTHER COMPREHENSIVE INCOME
 9 Months Ended
Sep. 30, 2023
Equity [Abstract]  
ACCUMULATED OTHER COMPREHENSIVE INCOME
NOTE 14 - ACCUMULATED OTHER COMPREHENSIVE INCOME
The following tables reflect the changes in Accumulated other comprehensive income related to Cliffs shareholders’ equity:
Three Months Ended
September 30,		 Nine Months Ended
September 30,
(In millions) 2023 2022 2023 2022
Foreign Currency Translation
Beginning balance $ (1) $ (1) $ (1) $ 1 
Other comprehensive loss before reclassifications —  (2) —  (4)
Ending balance $ (1) $ (3) $ (1) $ (3)
Derivative Instruments
Beginning balance $ (150) $ 109  $ (16) $ 68 
Other comprehensive income (loss) before reclassifications (21) 154  (229) 292 
Income tax 5  (38) 56  (69)
Other comprehensive income (loss) before reclassifications, net of tax (16) 116  (173) 223 
Losses (gains) reclassified from AOCI to net income1
63  (74) 93  (158)
Income tax expense (benefit)2
(16) 19  (23) 37 
Net losses (gains) reclassified from AOCI to net income 47  (55) 70  (121)
Ending balance $ (119) $ 170  $ (119) $ 170 
Pension and OPEB
Beginning balance $ 1,794  $ 550  $ 1,847  $ 549 
Other comprehensive income before reclassifications —  119  —  119 
Income tax —  (28) —  (28)
Other comprehensive income before reclassifications, net of tax —  91  —  91 
Losses (gains) reclassified from AOCI to net income3
(35) 3  (106) 4 
Income tax expense (benefit)2
8  (1) 26  (1)
Net losses (gains) reclassified from AOCI to net income (27) 2  (80) 3 
Ending balance $ 1,767  $ 643  $ 1,767  $ 643 
Total AOCI Ending Balance $ 1,647  $ 810  $ 1,647  $ 810 
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.