Quarterly report pursuant to Section 13 or 15(d)

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

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ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
 3 Months Ended
Mar. 31, 2022
Equity [Abstract]  
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
NOTE 15 - ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
The following tables reflect the changes in Accumulated other comprehensive income related to Cliffs shareholders’ equity:
(In Millions)
Three Months Ended
March 31,
2022 2021
Foreign Currency Translation
Beginning balance $ 1  $ 3 
Other comprehensive loss before reclassifications —  (1)
Ending balance $ 1  $ 2 
Derivative Instruments
Beginning balance $ 68  $ (1)
Other comprehensive income before reclassifications 168  10 
Income tax (39) (2)
Other comprehensive income before reclassifications, net of tax 129  8 
Gains reclassified from AOCI to net income1
(42) (1)
Income tax expense2
9  — 
Net gains reclassified from AOCI to net income (33) (1)
Ending balance $ 164  $ 6 
Pension and OPEB
Beginning balance $ 549  $ (135)
Net actuarial loss reclassified from AOCI to net income3
1  9 
Income tax benefit2
—  (2)
Net losses reclassified from AOCI to net income 1  7 
Ending balance $ 550  $ (128)
Total AOCI Ending Balance $ 715  $ (120)
1 Amounts recognized in Cost of goods sold in the Statements of Unaudited Condensed Consolidated Operations.
2 Amounts recognized in Income tax expense in the Statements of Unaudited Condensed Consolidated Operations.
3 Amounts recognized in Net periodic benefit credits other than service cost component in the Statements of Unaudited Condensed Consolidated Operations.