SHAREHOLDERS' EQUITY

3 Months Ended

Mar. 31, 2013

Shareholders' Equity [Abstract]

SHAREHOLDERS' EQUITY

NOTE 16 - SHAREHOLDERS' EQUITY

The following table reflects the changes in shareholders' equity attributable to both Cliffs and the noncontrolling interests primarily related to Bloom Lake, Tilden and Empire of which Cliffs owns 75 percent, 85 percent and 79 percent, respectively, for the three months endedMarch 31, 2013 and March 31, 2012:

	(In Millions)
	Cliffs Shareholders’ Equity			Noncontrolling Interest		Total Equity
December 31, 2012	$	4,632.7		$	1,128.2	$	5,760.9
Comprehensive income
Net income	107.0			13.8		120.8
Other comprehensive income	4.2			1.2		5.4
Total comprehensive income	111.2			15.0		126.2
Issuance of common shares	263.7			—		263.7
Issuance of Preferred Shares	731.3			—		731.3
Stock and other incentive plans	(1.5		)	—		(1.5		)
Common and Preferred Shares dividends	(32.8		)	—		(32.8		)
Capital contribution by noncontrolling     interest to subsidiary	—			11.2		11.2
March 31, 2013	$	5,704.6		$	1,154.4	$	6,859.0

	(In Millions)
	Cliffs Shareholders’ Equity			Noncontrolling Interest			Total Equity
December 31, 2011	$	5,785.0		$	1,254.7		$	7,039.7
Comprehensive income
Net income	375.8			15.6			391.4
Other comprehensive income	21.7			1.5			23.2
Total comprehensive income	397.5			17.1			414.6
Stock and other incentive plans	(2.8		)	—			(2.8		)
Common shares dividends	(39.7		)	—			(39.7		)
Undistributed gains to noncontrolling interest	—			7.8			7.8
Capital contribution by noncontrolling interest     to subsidiary	—			22.3			22.3
Acquisition of controlling interest	—			(8.0		)	(8.0		)
March 31, 2012	$	6,140.0		$	1,293.9		$	7,433.9

The following table reflects the changes in Accumulated other comprehensive income (loss) related to Cliffs shareholders’ equity for March 31, 2013 and March 31, 2012:

	(In Millions)
	Postretirement Benefit Liability, net of tax			Unrealized Net Gain on Securities, net of tax		Unrealized Net Gain on Foreign Currency Translation		Net Unrealized Gain (Loss) on Derivative Financial Instruments, net of tax			Accumulated Other Comprehensive Income (Loss)
Balance December 31, 2012	$	(382.7	)	$	2.1	$	316.3	$	8.7		$	(55.6	)
Other comprehensive income (loss) before reclassifications	(1.1		)	2.5		3.3		(5.0		)	(0.3		)
Amounts reclassified from accumulated other comprehensive income (loss)	6.4			0.1		—		(2.0		)	4.5
Balance March 31, 2013	$	(377.4	)	$	4.7	$	319.6	$	1.7		$	(51.4	)

	(In Millions)
	Postretirement Benefit Liability, net of tax			Unrealized Net Gain on Securities, net of tax		Unrealized Net Gain on Foreign Currency Translation		Net Unrealized Gain on Derivative Financial Instruments, net of tax		Accumulated Other Comprehensive Income (Loss)
Balance December 31, 2011	$	(408.9	)	$	2.6	$	312.5	$	1.2	$	(92.6	)
Change during 2012	4.7			2.3		10.9		3.8		21.7
Balance March 31, 2012	$	(404.2	)	$	4.9	$	323.4	$	5.0	$	(70.9	)

The following table reflects the details about Accumulated other comprehensive income (loss) components related to Cliffs shareholders’ equity for March 31, 2013:

Details about Accumulated Other Comprehensive Income (Loss) Components	Amount of Gain (Loss) Reclassified from Accumulated OCI into Income			Affected Line Item in the Statement of Unaudited Condensed Consolidated Operations
Amortization of Pension and Postretirement Benefit Liability:
Prior-service costs	$	(0.2	)	(1)
Net actuarial loss	9.6			(1)
	9.4			Total before taxes
	(3.0		)	Income tax benefit
	$	6.4		Net of taxes
Unrealized gain (loss) on securities:
Impairment	$	0.1		Other non-operating income
	0.1			Total before taxes
	—			Income tax benefit
	$	0.1		Net of taxes
Unrealized gain (loss) on derivative financial instruments:
Australian dollar foreign exchange contracts	$	(2.6	)	Product revenues
Canadian dollar foreign exchange contracts	(0.3		)	Cost of goods sold and operating expenses
	(2.9		)	Total before taxes
	0.9			Income tax benefit
	$	(2.0	)	Net of taxes
Total Reclassifications for the Period	$	4.5

(1) These accumulated other comprehensive income components are included in the computation of net periodic benefit cost. See NOTE 12 - PENSIONS AND OTHER POSTRETIREMENT BENEFITS for further information.