SUPPLEMENTARY GUARANTOR INFORMATION (Tables)

3 Months Ended

Mar. 31, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Supplemental Condensed Consolidating Financial Position

Unaudited Condensed Consolidating Statement of Financial Position
As of March 31, 2018
(In Millions)
	Cleveland-Cliffs Inc.			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Eliminations			Consolidated
ASSETS
CURRENT ASSETS
Cash and cash equivalents	$	753.6		$	1.0	$	32.0		$	—		$	786.6
Accounts receivable, net	5.7			27.7		15.9			(2.1		)	47.2
Inventories	—			303.2		21.2			—			324.4
Supplies and other inventories	—			81.4		0.3			—			81.7
Derivative assets	—			93.6		—			—			93.6
Loans to and accounts receivable from the Canadian Entities	43.5			6.9		—			—			50.4
Other current assets	15.5			7.9		5.1			—			28.5
TOTAL CURRENT ASSETS	818.3			521.7		74.5			(2.1		)	1,412.4
PROPERTY, PLANT AND EQUIPMENT, NET	16.2			956.9		74.2			—			1,047.3
OTHER ASSETS
Deposits for property, plant and equipment	—			1.9		72.2			—			74.1
Income tax receivable	219.9			—		—			—			219.9
Investment in subsidiaries	1,185.7			27.4		—			(1,213.1		)	—
Long-term intercompany notes	—			—		242.0			(242.0		)	—
Other non-current assets	8.9			97.9		2.4			—			109.2
TOTAL OTHER ASSETS	1,414.5			127.2		316.6			(1,455.1		)	403.2
TOTAL ASSETS	$	2,249.0		$	1,605.8	$	465.3		$	(1,457.2	)	$	2,862.9
LIABILITIES
CURRENT LIABILITIES
Accounts payable	$	4.6		$	71.8	$	25.2		$	(2.1	)	$	99.5
Accrued expenses	11.1			60.0		23.3			—			94.4
Accrued interest	28.2			—		—			—			28.2
Contingent claims	54.3			—		—			—			54.3
Partnership distribution payable	—			44.2		—			—			44.2
Other current liabilities	1.8			63.3		39.2			—			104.3
TOTAL CURRENT LIABILITIES	100.0			239.3		87.7			(2.1		)	424.9
PENSION AND POSTEMPLOYMENT BENEFIT LIABILITIES	66.1			429.6		(244.3		)	—			251.4
ENVIRONMENTAL AND MINE CLOSURE OBLIGATIONS	—			143.1		38.1			—			181.2
LONG-TERM DEBT	2,308.2			—		—			—			2,308.2
LONG-TERM INTERCOMPANY NOTES	242.0			—		—			(242.0		)	—
OTHER LIABILITIES	17.5			142.9		21.6			—			182.0
TOTAL LIABILITIES	2,733.8			954.9		(96.9		)	(244.1		)	3,347.7
EQUITY
TOTAL CLIFFS SHAREHOLDERS' DEFICIT	(484.8		)	650.9		562.0			(1,213.1		)	(485.0		)
NONCONTROLLING INTEREST	—			—		0.2			—			0.2
TOTAL DEFICIT	(484.8		)	650.9		562.2			(1,213.1		)	(484.8		)
TOTAL LIABILITIES AND DEFICIT	$	2,249.0		$	1,605.8	$	465.3		$	(1,457.2	)	$	2,862.9

Unaudited Condensed Consolidating Statement of Financial Position
As of December 31, 2017
(In Millions)
	Cleveland-Cliffs Inc.			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Eliminations			Consolidated
ASSETS
CURRENT ASSETS
Cash and cash equivalents	$	948.9		$	2.1	$	56.7		$	—		$	1,007.7
Accounts receivable, net	4.5			102.9		33.9			(0.7		)	140.6
Inventories	—			138.4		45.0			—			183.4
Supplies and other inventories	—			88.8		5.1			—			93.9
Derivative assets	—			37.9		1.5			—			39.4
Loans to and accounts receivable from the Canadian Entities	44.7			6.9		—			—			51.6
Other current assets	16.4			7.5		4.1			—			28.0
TOTAL CURRENT ASSETS	1,014.5			384.5		146.3			(0.7		)	1,544.6
PROPERTY, PLANT AND EQUIPMENT, NET	17.5			959.0		74.5			—			1,051.0
OTHER ASSETS
Deposits for property, plant and equipment	—			1.3		16.5			—			17.8
Income tax receivable	235.3			—		—			—			235.3
Investment in subsidiaries	1,024.3			29.9		—			(1,054.2		)	—
Long-term intercompany notes	—			—		242.0			(242.0		)	—
Other non-current assets	7.8			91.7		5.2			—			104.7
TOTAL OTHER ASSETS	1,267.4			122.9		263.7			(1,296.2		)	357.8
TOTAL ASSETS	$	2,299.4		$	1,466.4	$	484.5		$	(1,296.9	)	$	2,953.4
LIABILITIES
CURRENT LIABILITIES
Accounts payable	$	7.1		$	89.7	$	31.6		$	(0.7	)	$	127.7
Accrued expenses	19.0			59.9		28.2			—			107.1
Accrued interest	31.4			—		—			—			31.4
Contingent claims	55.6			—		—			—			55.6
Partnership distribution payable	—			44.2		—			—			44.2
Other current liabilities	2.1			63.5		20.6			—			86.2
TOTAL CURRENT LIABILITIES	115.2			257.3		80.4			(0.7		)	452.2
PENSION AND POSTEMPLOYMENT BENEFIT LIABILITIES	66.4			430.6		(239.3		)	—			257.7
ENVIRONMENTAL AND MINE CLOSURE OBLIGATIONS	—			140.6		55.9			—			196.5
LONG-TERM DEBT	2,304.2			—		—			—			2,304.2
LONG-TERM INTERCOMPANY NOTES	242.0			—		—			(242.0		)	—
OTHER LIABILITIES	15.7			147.2		24.0			—			186.9
TOTAL LIABILITIES	2,743.5			975.7		(79.0		)	(242.7		)	3,397.5
EQUITY
TOTAL CLIFFS SHAREHOLDERS' DEFICIT	(444.1		)	490.7		563.3			(1,054.2		)	(444.3		)
NONCONTROLLING INTEREST	—			—		0.2			—			0.2
TOTAL DEFICIT	(444.1		)	490.7		563.5			(1,054.2		)	(444.1		)
TOTAL LIABILITIES AND DEFICIT	$	2,299.4		$	1,466.4	$	484.5		$	(1,296.9	)	$	2,953.4

Schedule of Supplemental Statements of Condensed Consolidating Operations and Comprehensive Income (Loss)

Unaudited Condensed Consolidating Statement of Operations and Comprehensive Income (Loss)
For the Three Months Ended March 31, 2018
(In Millions)
	Cleveland-Cliffs Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
REVENUES FROM PRODUCT SALES AND SERVICES
Product	$	—		$	169.2		$	51.5		$	—		$	220.7
Freight and venture partners' cost reimbursements	—			10.8			7.5			—			18.3
	—			180.0			59.0			—			239.0
COST OF GOODS SOLD AND OPERATING EXPENSES	—			(118.5		)	(124.1		)	—			(242.6		)
SALES MARGIN	—			61.5			(65.1		)	—			(3.6		)
OTHER OPERATING EXPENSE
Selling, general and administrative expenses	(20.1		)	(4.3		)	(3.3		)	—			(27.7		)
Miscellaneous – net	(0.2		)	(5.3		)	(3.2		)	—			(8.7		)
	(20.3		)	(9.6		)	(6.5		)	—			(36.4		)
OPERATING INCOME (LOSS)	(20.3		)	51.9			(71.6		)	—			(40.0		)
OTHER INCOME (EXPENSE)
Interest expense, net	(31.9		)	(0.8		)	(0.8		)	—			(33.5		)
Other non-operating income (expense)	(0.9		)	0.5			4.8			—			4.4
	(32.8		)	(0.3		)	4.0			—			(29.1		)
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	(53.1		)	51.6			(67.6		)	—			(69.1		)
INCOME TAX EXPENSE	(15.6		)	(0.1		)	—			—			(15.7		)
EQUITY IN INCOME (LOSS) OF SUBSIDIARIES	(15.7		)	4.5			—			11.2			—
INCOME (LOSS) FROM CONTINUING OPERATIONS	(84.4		)	56.0			(67.6		)	11.2			(84.8		)
INCOME FROM DISCONTINUED OPERATIONS, NET OF TAX	0.1			0.2			0.2			—			0.5
NET INCOME (LOSS) ATTRIBUTABLE TO CLIFFS SHAREHOLDERS	$	(84.3	)	$	56.2		$	(67.4	)	$	11.2		$	(84.3	)
OTHER COMPREHENSIVE INCOME	7.7			5.9			0.8			(6.7		)	7.7
TOTAL COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO CLIFFS SHAREHOLDERS	$	(76.6	)	$	62.1		$	(66.6	)	$	4.5		$	(76.6	)

Unaudited Condensed Consolidating Statement of Operations and Comprehensive Income (Loss)
For the Three Months Ended March 31, 2017
(In Millions)
	Cleveland-Cliffs Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
REVENUES FROM PRODUCT SALES AND SERVICES
Product	$	—		$	247.3		$	165.5		$	—		$	412.8
Freight and venture partners' cost reimbursements	—			38.9			9.9			—			48.8
	—			286.2			175.4			—			461.6
COST OF GOODS SOLD AND OPERATING EXPENSES	—			(237.2		)	(128.1		)	—			(365.3		)
SALES MARGIN	—			49.0			47.3			—			96.3
OTHER OPERATING INCOME (EXPENSE)
Selling, general and administrative expenses	(19.5		)	(4.4		)	(3.8		)	—			(27.7		)
Miscellaneous – net	(0.1		)	(5.5		)	17.1			—			11.5
	(19.6		)	(9.9		)	13.3			—			(16.2		)
OPERATING INCOME (LOSS)	(19.6		)	39.1			60.6			—			80.1
OTHER INCOME (EXPENSE)
Interest expense, net	(41.6		)	—			(1.2		)	—			(42.8		)
Loss on extinguishment of debt	(71.9		)	—			—			—			(71.9		)
Other non-operating income (expense)	(1.0		)	(0.8		)	4.3			—			2.5
	(114.5		)	(0.8		)	3.1			—			(112.2		)
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	(134.1		)	38.3			63.7			—			(32.1		)
INCOME TAX BENEFIT (EXPENSE)	5.2			(0.8		)	(2.6		)	—			1.8
EQUITY IN INCOME OF SUBSIDIARIES	100.4			3.2			—			(103.6		)	—
INCOME (LOSS) FROM CONTINUING OPERATIONS	(28.5		)	40.7			61.1			(103.6		)	(30.3		)
INCOME (LOSS) FROM DISCONTINUED OPERATIONS, net of tax	0.4			0.2			(0.1		)	—			0.5
NET INCOME (LOSS)	(28.1		)	40.9			61.0			(103.6		)	(29.8		)
LOSS ATTRIBUTABLE TO NONCONTROLLING INTEREST	—			1.7			—			—			1.7
NET INCOME (LOSS) ATTRIBUTABLE TO CLIFFS SHAREHOLDERS	$	(28.1	)	$	42.6		$	61.0		$	(103.6	)	$	(28.1	)
OTHER COMPREHENSIVE INCOME (LOSS)	(3.0		)	10.8			(17.8		)	7.0			(3.0		)
TOTAL COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO CLIFFS SHAREHOLDERS	$	(31.1	)	$	53.4		$	43.2		$	(96.6	)	$	(31.1	)

Schedule of Supplemental Statements of Condensed Consolidating Cash Flows

Unaudited Condensed Consolidating Statement of Cash Flows
For the Three Months Ended March 31, 2018
(In Millions)
	Cleveland-Cliffs Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net cash used by operating activities	$	(54.7	)	$	(62.8	)	$	(25.4	)	$	—		$	(142.9	)
INVESTING ACTIVITIES
Purchase of property, plant and equipment	—			(8.1		)	(4.3		)	—			(12.4		)
Deposits for property, plant and equipment	—			(0.8		)	(58.2		)	—			(59.0		)
Intercompany investing	(137.7		)	(4.8		)	—			142.5			—
Net cash used by investing activities	(137.7		)	(13.7		)	(62.5		)	142.5			(71.4		)
FINANCING ACTIVITIES
Debt issuance costs	(1.5		)	—			—			—			(1.5		)
Intercompany financing	—			75.9			66.6			(142.5		)	—
Other financing activities	(1.4		)	(0.5		)	(3.6		)	—			(5.5		)
Net cash provided (used) by financing activities	(2.9		)	75.4			63.0			(142.5		)	(7.0		)
EFFECT OF EXCHANGE RATE CHANGES ON CASH	—			—			0.2			—			0.2
DECREASE IN CASH AND CASH EQUIVALENTS	(195.3		)	(1.1		)	(24.7		)	—			(221.1		)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	948.9			2.1			56.7			—			1,007.7
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$	753.6		$	1.0		$	32.0		$	—		$	786.6

Unaudited Condensed Consolidating Statement of Cash Flows
For the Three Months Ended March 31, 2017
(In Millions)
	Cleveland-Cliffs Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net cash provided (used) by operating activities	$	(99.5	)	$	(19.7	)	$	94.1		$	—		$	(25.1	)
INVESTING ACTIVITIES
Purchase of property, plant and equipment	(0.8		)	(24.9		)	(0.2		)	—			(25.9		)
Deposits for property, plant and equipment	—			(2.0		)	—			—			(2.0		)
Intercompany investing	(56.5		)	(0.5		)	(45.0		)	102.0			—
Other investing activities	—			0.5			—			—			0.5
Net cash used by investing activities	(57.3		)	(26.9		)	(45.2		)	102.0			(27.4		)
FINANCING ACTIVITIES
Net proceeds from issuance of common shares	661.3			—			—			—			661.3
Proceeds from issuance of debt	500.0			—			—			—			500.0
Debt issuance costs	(8.5		)	—			—			—			(8.5		)
Repurchase of debt	(1,115.5		)	—			—			—			(1,115.5		)
Distributions of partnership equity	—			(8.7		)	—			—			(8.7		)
Intercompany financing	45.1			55.8			1.1			(102.0		)	—
Other financing activities	(0.5		)	(0.7		)	(4.4		)	—			(5.6		)
Net cash provided (used) by financing activities	81.9			46.4			(3.3		)	(102.0		)	23.0
EFFECT OF EXCHANGE RATE CHANGES ON CASH	—			—			1.4			—			1.4
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	(74.9		)	(0.2		)	47.0			—			(28.1		)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	283.4			2.5			37.5			—			323.4
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$	208.5		$	2.3		$	84.5		$	—		$	295.3