ACCUMULATED OTHERCOMPREHENSIVE INCOME (LOSS) (Tables)

12 Months Ended

Dec. 31, 2022

Equity [Abstract]

Components of Accumulated Other Comprehensive Income (Loss)

The components of Accumulated other comprehensive income within Cliffs shareholders’ equity and related tax effects allocated to each are shown below:

	December 31,
(In millions)	2022		2021		2020
Foreign Currency Translation
Beginning balance	$	1	$	3	$	—
Other comprehensive income (loss) before reclassifications	(2)		(2)		3
Ending balance	$	(1)	$	1	$	3
Derivative Instruments
Beginning balance	$	68	$	(1)	$	(3)
Other comprehensive income (loss) before reclassifications	146		151		(7)
Income tax	(33)		(34)		1
Other comprehensive income (loss) before reclassifications, net of tax	113		117		(6)
Losses (gains) reclassified from AOCI to net income1	(256)		(61)		10
Income tax expense (benefit)2	59		13		(2)
Net losses (gains) reclassified from AOCI to net income	(197)		(48)		8
Ending balance	$	(16)	$	68	$	(1)
Pension and OPEB
Beginning balance	$	549	$	(135)	$	(316)
Other comprehensive income before reclassifications4	1,759		878		210
Income tax	(434)		(203)		(47)
Other comprehensive income before reclassifications, net of tax	1,325		675		163
Losses (gains) reclassified from AOCI to net income3	(36)		12		23
Income tax expense (benefit)2	9		(3)		(5)
Net losses (gains) reclassified from AOCI to net income	(27)		9		18
Ending balance	$	1,847	$	549	$	(135)
Total AOCI Ending Balance	$	1,830	$	618	$	(133)
1 Amounts recognized in Cost of goods sold in the Statements of Consolidated Operations.
2 Amounts recognized in Income tax benefit (expense) in the Statements of Consolidated Operations.
3 Amounts recognized in Net periodic benefit credits other than service cost component in the Statements of Consolidated Operations.
4 Refer to NOTE 9 - PENSIONS AND OTHER POSTRETIREMENT BENEFITS for further information.