ACCUMULATED OTHER COMPREHENSIVE LOSS

3 Months Ended

Mar. 31, 2021

Equity [Abstract]

Accumulated Comprehensive Loss

NOTE 14 - ACCUMULATED OTHER COMPREHENSIVE LOSS

The following tables reflect the changes in Accumulated other comprehensive loss related to Cliffs shareholders’ equity:

	(In Millions)
	Postretirement Benefit Liability, net of tax		Foreign Currency Translation		Derivative Financial Instruments, net of tax		Accumulated Other Comprehensive Loss
December 31, 2020	$	(135)	$	3	$	(1)	$	(133)
Other comprehensive income (loss) before reclassifications	—		(1)		8		7
Net (gain) loss reclassified from accumulated other comprehensive loss	7		—		(1)		6
March 31, 2021	$	(128)	$	2	$	6	$	(120)

	(In Millions)
	Postretirement Benefit Liability, net of tax		Foreign Currency Translation		Derivative Financial Instruments, net of tax		Accumulated Other Comprehensive Loss
December 31, 2019	$	(316)	$	—	$	(3)	$	(319)
Other comprehensive loss before reclassifications	—		(1)		(5)		(6)
Net loss reclassified from accumulated other comprehensive loss	6		—		2		8
March 31, 2020	$	(310)	$	(1)	$	(6)	$	(317)

The following table reflects the details about Accumulated other comprehensive loss components reclassified from Cliffs shareholders’ equity:

	(In Millions)
Details about Accumulated Other Comprehensive Loss Components	Amount of (Gain)/Loss Reclassified into Income, Net of Tax				Affected Line Item in the Statement of Unaudited Condensed Consolidated Operations
	Three Months Ended March 31,
	2021		2020
Amortization of pension and OPEB liability:
Net actuarial loss	$	9	$	7	Other non-operating income
Income tax benefit	(2)		(1)		Income tax benefit (expense)
Net of taxes	$	7	$	6
Changes in derivative financial instruments:
Commodity contracts	$	(1)	$	3	Cost of goods sold
Income tax benefit	—		(1)		Income tax benefit (expense)
Net of taxes	$	(1)	$	2
Total reclassifications for the period, net of tax	$	6	$	8