NOTE 14 - ACCUMULATED OTHER COMPREHENSIVE LOSS
The following tables reflect the changes in Accumulated other comprehensive loss related to Cliffs shareholders鈥� equity:
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(In Millions) |
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Postretirement Benefit Liability, net of tax |
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Foreign Currency Translation |
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Derivative Financial Instruments, net of tax |
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Accumulated Other Comprehensive Loss |
December 31, 2020 |
$ |
(135) |
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$ |
3听
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$ |
(1) |
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$ |
(133) |
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Other comprehensive income (loss) before reclassifications |
鈥�听
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(1) |
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8听
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7听
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Net (income) loss reclassified from accumulated other comprehensive loss |
7听
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鈥�听
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(1) |
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6听
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March 31, 2021 |
$ |
(128) |
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$ |
2听
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$ |
6听
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$ |
(120) |
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Other comprehensive income before reclassifications |
鈥�听
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鈥�听
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51听
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51听
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Net (income) loss reclassified from accumulated other comprehensive loss |
7听
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鈥�听
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(4) |
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3听
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June 30, 2021 |
$ |
(121) |
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$ |
2听
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$ |
53听
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$ |
(66) |
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(In Millions) |
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Postretirement Benefit Liability, net of tax |
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Foreign Currency Translation |
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Derivative Financial Instruments,
net of tax
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Accumulated Other Comprehensive Loss |
December 31, 2019 |
$ |
(316) |
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$ |
鈥斕� |
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$ |
(3) |
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$ |
(319) |
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Other comprehensive loss before reclassifications |
鈥斕� |
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(1) |
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(5) |
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(6) |
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Net loss reclassified from accumulated other comprehensive loss |
6听 |
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鈥斕� |
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2听 |
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8听 |
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March 31, 2020 |
$ |
(310) |
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$ |
(1) |
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$ |
(6) |
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$ |
(317) |
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Other comprehensive income before reclassifications |
鈥斕� |
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1听 |
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1听 |
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2听 |
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Net loss reclassified from accumulated other comprehensive loss |
6听 |
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鈥斕� |
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3听 |
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9听 |
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June 30, 2020 |
$ |
(304) |
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$ |
鈥斕� |
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$ |
(2) |
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$ |
(306) |
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The following table reflects the details about Accumulated other comprehensive loss components reclassified from Cliffs shareholders鈥� equity:
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(In Millions) |
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Details about Accumulated Other Comprehensive Loss Components |
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Amount of (Income)/Loss Reclassified into Income, Net of Tax |
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Affected Line Item in the Statement of Unaudited Condensed Consolidated 日韩三级片 |
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Three Months Ended June 30, |
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Six Months Ended June 30, |
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2021 |
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2020 |
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2021 |
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2020 |
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Changes in pension and OPEB: |
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Prior service credits |
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$ |
鈥�听
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$ |
(1) |
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$ |
鈥�听
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$ |
(1) |
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Net periodic benefit credits other than service cost component |
Net actuarial loss |
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9听
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8听 |
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18听
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15听 |
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Net periodic benefit credits other than service cost component |
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9听
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7听 |
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18听
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14听 |
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Total before taxes |
Income tax benefit |
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(2) |
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(1) |
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(4) |
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(2) |
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Income tax benefit (expense) |
Net of taxes |
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$ |
7听
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$ |
6听 |
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$ |
14听
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$ |
12听 |
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Changes in derivative financial instruments: |
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Commodity contracts |
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$ |
(5) |
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$ |
4听 |
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$ |
(6) |
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$ |
7听 |
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Cost of goods sold |
Income tax (benefit) expense |
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1听
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(1) |
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1听
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(2) |
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Income tax benefit (expense) |
Net of taxes |
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$ |
(4) |
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$ |
3听 |
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$ |
(5) |
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$ |
5听 |
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Total reclassifications for the period, net of tax |
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$ |
3听
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$ |
9听 |
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$ |
9听
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$ |
17听 |
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