Cleveland-Cliffs (CLF) 10-Q 26 Oct 22 2022 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2022	Oct. 25, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2022
Document Transition Report	false
Entity File Number	1-8944
Entity Registrant Name	CLEVELAND-CLIFFS INC.
Entity Incorporation, State or Country Code	OH
Entity Tax Identification Number	34-1464672
Entity Address, Address Line One	200 Public Square,
Entity Address, City or Town	Cleveland,
Entity Address, State or Province	OH
Entity Address, Postal Zip Code	44114-2315
City Area Code	216
Local Phone Number	694-5700
Title of 12(b) Security	Common shares, par value $0.125 per share
Trading Symbol	CLF
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		515,302,483
Entity Central Index Key	0000764065
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Amendment Flag	false

Statements Of Unaudited Condens

Statements Of Unaudited Condensed Consolidated Financial Position - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 56	$ 48
Accounts receivable, net	2,301	2,154
Inventories	5,542	5,188
Other current assets	426	263
Total current assets	8,325	7,653
Non-current assets:
Property, plant and equipment, net	9,030	9,186
Goodwill	1,141	1,116
Pension and OPEB, asset	390	224
Other non-current assets	802	796
TOTAL ASSETS	19,688	18,975
Current liabilities:
Accounts payable	2,361	2,073
Accrued employment costs	479	585
Other current liabilities	740	903
Total current liabilities	3,580	3,561
Non-current liabilities:
Long-term debt	4,475	5,238
Pension liability, non-current	464	578
OPEB liability, non-current	2,287	2,383
Other non-current liabilities	1,614	1,441
TOTAL LIABILITIES	12,420	13,201
Commitments and contingencies (See Note 18)
SHAREHOLDERS' EQUITY
Common shares - par value $0.125 per share, Authorized - 1,200,000,000 shares (2021 - 1,200,000,000 shares); Issued - 531,051,530 shares (2021 -506,832,537 shares); Outstanding - 517,293,151 shares (2021 - 500,158,955 shares)	66	63
Capital in excess of par value of shares	4,864	4,892
Retained earnings (deficit)	1,548	(1)
Cost of 15,753,810 common shares in treasury (2021 - 6,673,582 shares)	(280)	(82)
Accumulated other comprehensive income	810	618
Total Cliffs shareholders' equity	7,008	5,490
Noncontrolling interest	260	284
TOTAL EQUITY	7,268	5,774
TOTAL LIABILITIES AND EQUITY	$ 19,688	$ 18,975

Statements Of Condensed Consoli

Statements Of Condensed Consolidated Financial Position (Parenthetical) - $ / shares	Sep. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Common shares, par value (in dollars per share)	$ 0.125
Common shares, authorized (in shares)	1,200,000,000	1,200,000,000
Common shares, issued (in shares)	531,051,530	506,832,537
Common shares, outstanding (in shares)	515,297,720	500,158,955
Common shares in treasury (in shares)	15,753,810	6,673,582

Statements Of Unaudited Conde_2

Statements Of Unaudited Condensed Consolidated Operations - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Statement [Abstract]
Revenues	$ 5,653	$ 6,004	$ 17,945	$ 15,098
Operating costs:
Cost of goods sold	(5,305)	(4,229)	(15,367)	(11,838)
Selling, general and administrative expenses	(124)	(116)	(353)	(329)
Miscellaneous – net	(37)	(10)	(104)	(38)
Total operating costs	(5,466)	(4,355)	(15,824)	(12,205)
Operating income	187	1,649	2,121	2,893
Other income (expense):
Interest expense, net	(64)	(81)	(205)	(258)
Gain (loss) on extinguishment of debt	4	0	(76)	(88)
Net periodic benefit credits other than service cost component	49	46	148	139
Other non-operating income (expense)	(1)	1	(6)	5
Total other expense	(12)	(34)	(139)	(202)
Income from continuing operations before income taxes	175	1,615	1,982	2,691
Income tax expense	(10)	(334)	(404)	(559)
Income from continuing operations	165	1,281	1,578	2,132
Income from discontinued operations, net of tax	0	1	2	2
Net income	165	1,282	1,580	2,134
Income attributable to noncontrolling interest	(13)	(8)	(31)	(39)
Net income attributable to Cliffs shareholders	$ 152	$ 1,274	$ 1,549	$ 2,095
Earnings per common share attributable to Cliffs shareholders - basic
Continuing operations (in dollars per share)	$ 0.30	$ 2.46	$ 2.98	$ 3.87
Discontinued operations (in dollars per share)	0	0	0	0
Earnings per Common Share - Basic (in dollars per share)	0.30	2.46	2.98	3.87
Earnings per common share attributable to Cliffs shareholders - diluted
Continuing operations (in dollars per share)	0.29	2.33	2.95	3.69
Discontinued operations (in dollars per share)	0	0	0	0
Earnings per Common Share - Diluted (in dollars per share)	$ 0.29	$ 2.33	$ 2.95	$ 3.69

Statements Of Unaudited Conde_3

Statements Of Unaudited Condensed Consolidated Comprehensive Income - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 165	$ 1,282	$ 1,580	$ 2,134
Other comprehensive income (loss):
Changes in pension and OPEB, net of tax	93	6	94	20
Changes in foreign currency translation	(2)	0	(4)	(1)
Changes in derivative financial instruments, net of tax	61	83	102	137
Total other comprehensive income	152	89	192	156
Comprehensive income	317	1,371	1,772	2,290
Comprehensive income attributable to noncontrolling interests	(13)	(8)	(31)	(39)
Comprehensive income attributable to Cliffs shareholders	$ 304	$ 1,363	$ 1,741	$ 2,251

Statements Of Unaudited Conde_4

Statements Of Unaudited Condensed Consolidated Cash Flows - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
OPERATING ACTIVITIES
Net income	$ 1,580	$ 2,134
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, depletion and amortization	788	664
Impairment of long-lived assets	29	1
Deferred income taxes	210	557
Pension and OPEB credits	(81)	(59)
Loss on extinguishment of debt	76	88
Amortization of inventory step-up	0	129
Other	75	79
Changes in operating assets and liabilities, net of business combination:
Receivables and other assets	(108)	(1,166)
Inventories	(348)	(793)
Income taxes	(109)	(1)
Pension and OPEB payments and contributions	(174)	(279)
Payables, accrued expenses and other liabilities	(4)	294
Net cash provided by operating activities	1,934	1,648
INVESTING ACTIVITIES
Purchase of property, plant and equipment	(716)	(473)
Other investing activities	20	5
Net cash used by investing activities	(727)	(414)
FINANCING ACTIVITIES
Series B Redeemable Preferred Stock redemption	0	1,343
Proceeds from issuance of common shares	0	322
Repurchase of common shares	(210)	0
Proceeds from issuance of debt	0	1,000
Repayments of debt	(1,355)	(1,346)
Borrowings under credit facilities	4,650	4,353
Repayments under credit facilities	(4,169)	(4,160)
Other financing activities	(115)	(130)
Net cash used by financing activities	(1,199)	(1,304)
Net increase (decrease) in cash and cash equivalents	8	(70)
Cash and cash equivalents at beginning of period	48	112
Cash and cash equivalents at end of period	56	42
ArcelorMittal USA
INVESTING ACTIVITIES
Payments to Acquire Businesses, Net of Cash Acquired	0	54
Ferrous Processing and Trading
INVESTING ACTIVITIES
Payments to Acquire Businesses, Net of Cash Acquired	$ (31)	$ 0

Statements of Unaudited Conde_5

Statements of Unaudited Condensed Consolidated Changes in Equity Statement - USD ($) $ in Millions	Total	Common Stock	Capital in Excess of Par Value of Shares	Retained Earnings (Deficit)	Common Shares in Treasury	AOCI	Non-controlling Interests
Balance, beginning of period (in shares) at Dec. 31, 2020		478,000,000
Balance, beginning of period at Dec. 31, 2020	$ 2,341	$ 63	$ 5,431	$ (2,989)	$ (354)	$ (133)	$ 323
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income	70			41		13	16
Issuance of common stock (in shares)		20,000,000
Issuance of common stock	322		78		244
Stock and other incentive plans (in shares)		1,000,000
APIC, Share-based Payment Arrangement, Increase for Cost Recognition			(22)
Stock and other incentive plans	(5)				17
Acquisition of ArcelorMittal USA - Measurement period adjustments	(1)						(1)
Net distributions to noncontrolling interests	(8)						(8)
Balance, end of period (in shares) at Mar. 31, 2021		499,000,000
Balance, end of period at Mar. 31, 2021	2,719	$ 63	5,487	(2,948)	(93)	(120)	330
Balance, beginning of period (in shares) at Dec. 31, 2020		478,000,000
Balance, beginning of period at Dec. 31, 2020	2,341	$ 63	5,431	(2,989)	(354)	(133)	323
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income	2,290
Balance, end of period (in shares) at Sep. 30, 2021		500,000,000
Balance, end of period at Sep. 30, 2021	4,290	$ 63	4,887	(894)	(83)	23	294
Balance, beginning of period (in shares) at Mar. 31, 2021		499,000,000
Balance, beginning of period at Mar. 31, 2021	2,719	$ 63	5,487	(2,948)	(93)	(120)	330
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income	849			780		54	15
Stock and other incentive plans (in shares)		1,000,000
APIC, Share-based Payment Arrangement, Increase for Cost Recognition			4
Stock and other incentive plans	10				6
Acquisition of ArcelorMittal USA - Measurement period adjustments	(13)						(13)
Net distributions to noncontrolling interests	(24)						(24)
Balance, end of period (in shares) at Jun. 30, 2021		500,000,000
Balance, end of period at Jun. 30, 2021	3,541	$ 63	5,491	(2,168)	(87)	(66)	308
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income	1,371			1,274		89	8
Redemption of convertible debt, adjustments	(4)		(4)
Stock and other incentive plans (in shares)		0
APIC, Share-based Payment Arrangement, Increase for Cost Recognition			5
Stock and other incentive plans	9				4
Preferred Stock Redemption Premium	(605)		(605)
Net distributions to noncontrolling interests	(22)						(22)
Balance, end of period (in shares) at Sep. 30, 2021		500,000,000
Balance, end of period at Sep. 30, 2021	$ 4,290	$ 63	4,887	(894)	(83)	23	294
Balance, beginning of period (in shares) at Dec. 31, 2021	500,158,955	500,000,000
Balance, beginning of period at Dec. 31, 2021	$ 5,774	$ 63	4,892	(1)	(82)	618	284
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income	911			801		97	13
Redemption of convertible debt (shares)		24,000,000
Redemption of convertible debt, value		$ 3
Redemption of convertible debt, adjustments			(28)
Redemption of convertible debt	(25)
Stock and other incentive plans (in shares)		2,000,000
APIC, Share-based Payment Arrangement, Increase for Cost Recognition			(16)
Stock and other incentive plans	(5)				11
Common stock repurchases (shares)		(1,000,000)
Common stock repurchases	(19)				(19)
Net distributions to noncontrolling interests	(28)						(28)
Balance, end of period (in shares) at Mar. 31, 2022		525,000,000
Balance, end of period at Mar. 31, 2022	$ 6,608	$ 66	4,848	800	(90)	715	269
Balance, beginning of period (in shares) at Dec. 31, 2021	500,158,955	500,000,000
Balance, beginning of period at Dec. 31, 2021	$ 5,774	$ 63	4,892	(1)	(82)	618	284
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income	$ 1,772
Common stock repurchases (shares)		(10,500,000)
Common stock repurchases					(210)
Balance, end of period (in shares) at Sep. 30, 2022	515,297,720	515,000,000
Balance, end of period at Sep. 30, 2022	$ 7,268	$ 66	4,864	1,548	(280)	810	260
Balance, beginning of period (in shares) at Mar. 31, 2022		525,000,000
Balance, beginning of period at Mar. 31, 2022	6,608	$ 66	4,848	800	(90)	715	269
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income	544			596		(57)	5
Stock and other incentive plans (in shares)		0
APIC, Share-based Payment Arrangement, Increase for Cost Recognition			7
Stock and other incentive plans	8				1
Common stock repurchases (shares)		(8,000,000)
Common stock repurchases	(157)				(157)
Net distributions to noncontrolling interests	(9)						(9)
Balance, end of period (in shares) at Jun. 30, 2022		517,000,000
Balance, end of period at Jun. 30, 2022	6,994	$ 66	4,855	1,396	(246)	658	265
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income	317			152		152	13
Stock and other incentive plans (in shares)		0
APIC, Share-based Payment Arrangement, Increase for Cost Recognition			9
Stock and other incentive plans	9				0
Common stock repurchases (shares)		(2,000,000)
Common stock repurchases	(34)				(34)
Net distributions to noncontrolling interests	$ (18)						(18)
Balance, end of period (in shares) at Sep. 30, 2022	515,297,720	515,000,000
Balance, end of period at Sep. 30, 2022	$ 7,268	$ 66	$ 4,864	$ 1,548	$ (280)	$ 810	$ 260

BASIS OF PRESENTATION AND SIGNI

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES	NOTE 1 - BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES Business, Consolidation and Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with SEC rules and regulations and, in the opinion of management, include all adjustments (consisting of normal recurring adjustments) necessary to present fairly the financial position, results of operations, comprehensive income, cash flows and changes in equity for the periods presented. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Management bases its estimates on various assumptions and historical experience, which are believed to be reasonable; however, due to the inherent nature of estimates, actual results may differ significantly due to changed conditions or assumptions. The results of operations for the three and nine months ended September 30, 2022 are not necessarily indicative of results to be expected for the year ending December 31, 2022 or any other future period. These unaudited condensed consolidated financial statements should be read in conjunction with the financial statements and notes included in our Annual Report on Form 10-K for the year ended December 31, 2021 and in our Quarterly Report on Form 10-Q for the quarterly periods ended June 30, 2022 and March 31, 2022. Business Operations We are vertically integrated from mined raw materials, direct reduced iron and ferrous scrap to primary steelmaking and downstream finishing, stamping, tooling and tubing. We are organized into four operating segments based on differentiated products – Steelmaking, Tubular, Tooling and Stamping, and European Operations. We primarily operate through one reportable segment – the Steelmaking segment. Basis of Consolidation The unaudited condensed consolidated financial statements consolidate our accounts and the accounts of our wholly owned subsidiaries, all subsidiaries in which we have a controlling interest and VIEs for which we are the primary beneficiary. All intercompany transactions and balances are eliminated upon consolidation. Investments in Affiliates We have investments in several businesses accounted for using the equity method of accounting. As of September 30, 2022 and December 31, 2021, our investment in affiliates of $134 million and $128 million, respectively, was classified in Other non-current assets. Significant Accounting Policies A detailed description of our significant accounting policies can be found in the audited financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2021 filed with the SEC. There have been no material changes in our significant accounting policies and estimates from those disclosed therein. Recent Accounting Pronouncements Issued and Adopted In August 2020, the FASB issued ASU 2020-06, Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40). This update requires certain convertible instruments to be accounted for as a single liability measured at its amortized cost. Additionally, the update requires the use of the "if-converted" method, removing the treasury stock method, when calculating diluted shares. We utilized the modified retrospective method of adoption; using this approach, the guidance was applied to transactions outstanding as of the beginning of the fiscal year in which the amendment was adopted. On January 18, 2022, we redeemed all of our outstanding 1.500% 2025 Convertible Senior Notes; therefore, there was a de minimis impact as a result of our adoption of this update. Issued and Not Yet Effective In September 2022, the FASB issued ASU No. 2022-04, Liabilities - Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations . This guidance requires annual and interim disclosure of the key terms of outstanding supplier finance programs and a rollforward of the related obligations. The new standard does not affect the recognition, measurement or financial statement presentation of the supplier finance program obligations. These amendments are effective for fiscal years beginning after December 15, 2022, except for the amendment on rollforward information, which is effective for fiscal years beginning after December 15, 2023. Upon adoption, we may be required to include additional disclosures to the extent we have material supplier finance program obligations.

SUPPLEMENTARY FINANCIAL STATEME

SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION	9 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION	NOTE 2 - SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION Allowance for Credit Losses The following is a roll-forward of our allowance for credit losses associated with Accounts receivable, net : (In Millions) 2022 2021 Allowance for credit losses as of January 1 $ (4) $ (5) Increase in allowance (1) — Allowance for credit losses as of September 30 $ (5) $ (5) Inventories The following table presents the detail of our Inventories in the Statements of Unaudited Condensed Consolidated Financial Position: (In Millions) September 30, December 31, Product inventories Finished and semi-finished goods $ 3,084 $ 2,814 Raw materials 2,111 2,070 Total product inventories 5,195 4,884 Manufacturing supplies and critical spares 347 304 Inventories $ 5,542 $ 5,188 Cash Flow Information A reconciliation of capital additions to cash paid for capital expenditures is as follows: (In Millions) Nine Months Ended 2022 2021 Capital additions $ 736 $ 572 Less: Non-cash accruals (10) 64 Right-of-use assets - finance leases 30 35 Cash paid for capital expenditures including deposits $ 716 $ 473 Cash payments (receipts) for income taxes and interest are as follows: (In Millions) Nine Months Ended 2022 2021 Taxes paid on income $ 306 $ 38 Income tax refunds (3) (15) Interest paid on debt obligations net of capitalized interest 1 201 231 1 Capitalized interest was $7 million and $4 million for the nine months ended September 30, 2022 and 2021, respectively.

ACQUISITIONS

ACQUISITIONS	9 Months Ended
	Sep. 30, 2022
Business Combination and Asset Acquisition [Abstract]
ACQUISITIONS	NOTE 3 - ACQUISITIONS FPT Acquisition Overview On November 18, 2021, pursuant to the FPT Acquisition Agreement, we completed the FPT Acquisition, in which we were the acquirer. The FPT Acquisition gives us a competitive advantage in sourcing prime scrap, a key raw material for our steelmaking facilities. We incurred acquisition-related costs, excluding severance costs, of $1 million for the nine months ended September 30, 2022, which was recorded in Selling, general and administrative expenses on the Statements of Unaudited Condensed Consolidated Operations . The fair value of the total purchase consideration was determined as follows: (In Millions) Cash consideration: Cash consideration pursuant to the FPT Acquisition Agreement $ 778 Cash consideration paid related to Internal Revenue Code Section 338(h)(10) 23 Total cash consideration 801 Fair value of settlement of a pre-existing relationship (20) Total purchase consideration $ 781 We made certain elections under Section 338(h)(10) of the Internal Revenue Code with respect to entities acquired in connection with the FPT Acquisition that were finalized during the third quarter of 2022, which changed the final cash consideration. Valuation Assumption and Purchase Price Allocation We estimated fair values at November 18, 2021 for the preliminary allocation of consideration to the net tangible and intangible assets acquired and liabilities assumed in connection with the FPT Acquisition. During the measurement period, we will continue to obtain information to assist in finalizing the fair value of assets acquired and liabilities assumed, which may differ materially from these preliminary estimates. If we determine any measurement period adjustments are material, we will apply those adjustments, including any related impacts to net income, in the reporting period in which the adjustments are determined. We are in the process of conducting a valuation of the assets acquired and liabilities assumed related to the FPT Acquisition, most notably, deferred taxes and environmental obligations, and the final allocation will be made when completed, including the result of any identified goodwill. Accordingly, the provisional measurements noted below are preliminary and subject to modification in the future. The preliminary purchase price allocation to assets acquired and liabilities assumed in the FPT Acquisition was: (In Millions) Initial Allocation of Consideration Measurement Period Adjustments Updated Allocation Cash and cash equivalents $ 9 $ — $ 9 Accounts receivable, net 233 2 235 Inventories 137 (1) 136 Other current assets 4 — 4 Property, plant and equipment 179 12 191 Other non-current assets 74 (11) 63 Accounts payable (122) — (122) Accrued employment costs (8) — (8) Other current liabilities (9) — (9) Other non-current liabilities (21) (1) (22) Net identifiable assets acquired 476 1 477 Goodwill 279 25 304 Total net assets acquired $ 755 $ 26 $ 781 The goodwill resulting from the FPT Acquisition primarily represents the incremental benefit of providing substantial access to prime scrap for our vertically integrated steelmaking business, as well as any synergistic benefits to be realized from the FPT Acquisition within our Steelmaking segment. The preliminary purchase price allocated to identifiable intangible assets acquired was: (In Millions) Weighted Average Life (In Years) Customer relationships $ 13 15 Supplier relationships 21 18 Trade names and trademarks 7 15 Total identifiable intangible assets $ 41 17 Intangible assets are classified as Other non-current assets on the Statements of Unaudited Condensed Consolidated Financial Position.

REVENUES

REVENUES	9 Months Ended
	Sep. 30, 2022
Revenue from Contract with Customer [Abstract]
REVENUES	NOTE 4 - REVENUES We generate our revenue through product sales, in which shipping terms indicate when we have fulfilled our performance obligations and transferred control of products to our customer. Our revenue transactions consist of a single performance obligation to transfer promised goods. Our contracts with customers define the mechanism for determining the sales price, which is generally fixed upon transfer of control, but the contracts generally do not impose a specific quantity on either party. Quantities to be delivered to the customer are determined at a point near the date of delivery through purchase orders or other written instructions we receive from the customer. Spot market sales are made through purchase orders or other written instructions. We consider our performance obligation to be complete and recognize revenue when control transfers in accordance with shipping terms. Revenue is measured as the amount of consideration we expect to receive in exchange for transferring product. We reduce the amount of revenue recognized for estimated returns and other customer credits, such as discounts and volume rebates, based on the expected value to be realized. Payment terms are consistent with terms standard to the markets we serve. Sales taxes collected from customers are excluded from revenues. The following table represents our Revenues by market: (In Millions) (In Millions) Three Months Ended Nine Months Ended 2022 2021 2022 2021 Steelmaking: Automotive $ 1,734 $ 1,149 $ 4,985 $ 3,577 Infrastructure and manufacturing 1,462 1,603 4,619 3,889 Distributors and converters 1,468 2,447 5,137 5,672 Steel producers 847 670 2,740 1,572 Total Steelmaking 5,511 5,869 17,481 14,710 Other Businesses: Automotive 113 105 359 306 Infrastructure and manufacturing 14 12 43 33 Distributors and converters 15 18 62 49 Total Other Businesses 142 135 464 388 Total revenues $ 5,653 $ 6,004 $ 17,945 $ 15,098 The following tables represent our Revenues by product line: (Dollars in Millions, Three Months Ended September 30, 2022 2021 Revenue Volume Revenue Volume Steelmaking: Hot-rolled steel $ 1,050 1,055 $ 1,800 1,332 Cold-rolled steel 740 530 935 728 Coated steel 1,757 1,203 1,635 1,291 Stainless and electrical steel 596 196 441 177 Plate 432 228 357 244 Other steel products 370 423 374 381 Other 566 N/A 327 N/A Total Steelmaking 5,511 5,869 Other Businesses: Other 142 N/A 135 N/A Total revenues $ 5,653 $ 6,004 (Dollars in Millions, Nine Months Ended September 30, 2022 2021 Revenue Volume Revenue Volume Steelmaking: Hot-rolled steel $ 3,495 2,996 $ 4,204 3,900 Cold-rolled steel 2,593 1,771 2,352 2,196 Coated steel 5,338 3,636 4,338 3,907 Stainless and electrical steel 1,765 579 1,201 512 Plate 1,306 687 929 792 Other steel products 1,121 1,244 1,009 1,195 Other 1,863 N/A 677 N/A Total Steelmaking 17,481 14,710 Other Businesses: Other 464 N/A 388 N/A Total revenues $ 17,945 $ 15,098

SEGMENT REPORTING

SEGMENT REPORTING	9 Months Ended
	Sep. 30, 2022
Segment Reporting [Abstract]
SEGMENT REPORTING	NOTE 5 - SEGMENT REPORTING We are vertically integrated from mined raw materials and direct reduced iron and ferrous scrap to primary steelmaking and downstream finishing, stamping, tooling and tubing. We are organized into four operating segments based on our differentiated products – Steelmaking, Tubular, Tooling and Stamping, and European Operations. We have one reportable segment – Steelmaking. The operating segment results of our Tubular, Tooling and Stamping, and European Operations that do not constitute reportable segments are combined and disclosed in the Other Businesses category. Our Steelmaking segment operates as the largest flat-rolled steel producer supported by being the largest iron ore pellet producer as well as a leading prime scrap processor in North America, primarily serving the automotive, distributors and converters, and infrastructure and manufacturing markets. Our Other Businesses primarily include the operating segments that provide customer solutions with carbon and stainless steel tubing products, advanced-engineered solutions, tool design and build, hot- and cold-stamped steel components, and complex assemblies. All intersegment transactions were eliminated in consolidation. We evaluate performance on an operating segment basis, as well as a consolidated basis, based on Adjusted EBITDA, which is a non-GAAP measure. This measure is used by management, investors, lenders and other external users of our financial statements to assess our operating performance and to compare operating performance to other companies in the steel industry. In addition, management believes Adjusted EBITDA is a useful measure to assess the earnings power of the business without the impact of capital structure and can be used to assess our ability to service debt and fund future capital expenditures in the business. Our results by segment are as follows: (In Millions) Three Months Ended Nine Months Ended 2022 2021 2022 2021 Revenues: Steelmaking $ 5,511 $ 5,869 $ 17,481 $ 14,710 Other Businesses 142 135 464 388 Total revenues $ 5,653 $ 6,004 $ 17,945 $ 15,098 Adjusted EBITDA: Steelmaking $ 436 $ 1,934 $ 2,967 $ 3,796 Other Businesses 9 6 58 25 Eliminations 1 7 (7) 8 (15) Total Adjusted EBITDA $ 452 $ 1,933 $ 3,033 $ 3,806 1 In 2022, we began allocating Corporate SG&A to our operating segments. Prior periods have been adjusted to reflect this change. The Eliminations line now only includes sales between segments. The following table provides a reconciliation of our consolidated Net income to total Adjusted EBITDA: (In Millions) Three Months Ended Nine Months Ended 2022 2021 2022 2021 Net income $ 165 $ 1,282 $ 1,580 $ 2,134 Less: Interest expense, net (64) (81) (205) (258) Income tax expense (10) (334) (404) (559) Depreciation, depletion and amortization (237) (239) (788) (664) 476 1,936 2,977 3,615 Less: EBITDA of noncontrolling interests 1 22 17 57 60 Asset impairment — — (29) — Gain (loss) on extinguishment of debt 4 — (76) (88) Severance costs (2) (3) (9) (15) Acquisition-related costs excluding severance costs — (1) (1) (3) Acquisition-related loss on equity method investment — — — (18) Amortization of inventory step-up — (11) — (129) Impact of discontinued operations — 1 2 2 Total Adjusted EBITDA $ 452 $ 1,933 $ 3,033 $ 3,806 1 EBITDA of noncontrolling interests includes the following: Net income attributable to noncontrolling interests $ 13 $ 8 $ 31 $ 39 Depreciation, depletion and amortization 9 9 26 21 EBITDA of noncontrolling interests $ 22 $ 17 $ 57 $ 60 The following summarizes our assets by segment: (In Millions) September 30, December 31, Assets: Steelmaking $ 18,843 $ 18,326 Other Businesses 313 306 Total segment assets 19,156 18,632 Corporate/Eliminations 532 343 Total assets $ 19,688 $ 18,975 The following table summarizes our depreciation, depletion and amortization and capital additions by segment: (In Millions) Three Months Ended Nine Months Ended 2022 2021 2022 2021 Depreciation, depletion and amortization: Steelmaking $ (227) $ (230) $ (758) $ (637) Other Businesses (10) (9) (30) (27) Total depreciation, depletion and amortization $ (237) $ (239) $ (788) $ (664) Capital additions 1 : Steelmaking $ 240 $ 233 $ 712 $ 512 Other Businesses 6 10 21 42 Corporate 1 — 3 18 Total capital additions $ 247 $ 243 $ 736 $ 572 1 Refer to NOTE 2 - SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION for additional information.

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT	9 Months Ended
	Sep. 30, 2022
Property, Plant and Equipment [Abstract]
PROPERTY, PLANT AND EQUIPMENT	NOTE 6 - PROPERTY, PLANT AND EQUIPMENT The following table indicates the carrying value of each of the major classes of our depreciable assets: (In Millions) September 30, December 31, Land, land improvements and mineral rights $ 1,396 $ 1,291 Buildings 914 889 Equipment 9,042 8,709 Other 232 229 Construction in progress 534 408 Total property, plant and equipment 1 12,118 11,526 Allowance for depreciation and depletion (3,088) (2,340) Property, plant and equipment, net $ 9,030 $ 9,186 1 Includes right-of-use assets related to finance leases of $389 million and $411 million as of September 30, 2022 and December 31, 2021, respectively.

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS AND LIABILITIES	9 Months Ended
	Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND INTANGIBLE ASSETS AND LIABILITIES	NOTE 7 - GOODWILL AND INTANGIBLE ASSETS AND LIABILITIES Goodwill The following is a summary of Goodwill by segment: (In Millions) September 30, December 31, Steelmaking $ 967 $ 942 Other Businesses 174 174 Total goodwill $ 1,141 $ 1,116 The increase of $25 million in the balance of Goodwill in our Steelmaking segment as of September 30, 2022, compared to December 31, 2021, is due to the change in estimated identified goodwill as a result of measurement period adjustments to the preliminary purchase price allocation for the FPT Acquisition. Refer to NOTE 3 - ACQUISITIONS for further details. Intangible Assets and Liabilities The following is a summary of our intangible assets and liabilities: (In Millions) September 30, 2022 December 31, 2021 Gross Amount Accumulated Amortization Net Amount Gross Amount Accumulated Amortization Net Amount Intangible assets 1 : Customer relationships $ 90 $ (12) $ 78 $ 95 $ (8) $ 87 Developed technology 60 (9) 51 60 (6) 54 Trade names and trademarks 18 (4) 14 18 (2) 16 Mining permits 72 (26) 46 72 (26) 46 Supplier relationships 21 (1) 20 18 — 18 Total intangible assets $ 261 $ (52) $ 209 $ 263 $ (42) $ 221 Intangible liabilities 2 : Above-market supply contracts $ (71) $ 18 $ (53) $ (71) $ 14 $ (57) 1 Intangible assets are classified as Other non-current assets. Amortization related to mining permits is recognized in Cost of goods sold . Amortization of all other intangible assets is recognized in Selling, general and administrative expenses. 2 Intangible liabilities are classified as Other non-current liabilities. Amortization of all intangible liabilities is recognized in Cost of goods sold . Amortization expense related to intangible assets was $3 million and $10 million for the three and nine months ended September 30, 2022, respectively, and $3 million and $8 million for the three and nine months ended September 30, 2021, respectively. Estimated future amortization expense is $3 million for the remainder of 2022 and $13 million annually for the years 2023 through 2027. Income from amortization related to the intangible liabilities was $1 million and $4 million for the three and nine months ended September 30, 2022, respectively, and $2 million and $5 million for the three and nine months ended September 30, 2021, respectively. Estimated future income from amortization is $1 million for the remainder of 2022 and $5 million annually for the years 2023 through 2027.

DEBT AND CREDIT FACILITIES

DEBT AND CREDIT FACILITIES	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
DEBT AND CREDIT FACILITIES	NOTE 8 - DEBT AND CREDIT FACILITIES The following represents a summary of our long-term debt: (In Millions) Debt Instrument Issuer 1 Annual Effective Interest Rate September 30, December 31, Senior Secured Notes: 9.875% 2025 Senior Secured Notes Cliffs 10.57% $ — $ 607 6.750% 2026 Senior Secured Notes Cliffs 6.99% 829 845 Senior Unsecured Notes: 1.500% 2025 Convertible Senior Notes Cliffs 6.26% — 294 7.000% 2027 Senior Notes Cliffs 9.24% 73 73 7.000% 2027 AK Senior Notes AK Steel 9.24% 56 56 5.875% 2027 Senior Notes Cliffs 6.49% 556 556 4.625% 2029 Senior Notes Cliffs 4.63% 370 500 4.875% 2031 Senior Notes Cliffs 4.88% 326 500 6.250% 2040 Senior Notes Cliffs 6.34% 235 263 IRBs due 2024 to 2028 AK Steel Various — 66 ABL Facility Cliffs 2 Variable 3 2,090 1,609 Total principal amount 4,535 5,369 Unamortized discounts and issuance costs (60) (131) Total long-term debt $ 4,475 $ 5,238 1 Unless otherwise noted, references in this column and throughout this NOTE 8 - DEBT AND CREDIT FACILITIES to "Cliffs" are to Cleveland-Cliffs Inc., and references to "AK Steel" are to AK Steel Corporation (n/k/a Cleveland-Cliffs Steel Corporation). 2 Refers to Cleveland-Cliffs Inc. as borrower under our ABL Facility. 3 Our ABL Facility annual effective interest rate was 4.23% and 1.87%, respectively, as of September 30, 2022 and December 31, 2021. Debt Extinguishments The following is a summary of the debt extinguished and the respective impact on extinguishment: (In Millions) Three Months Ended Nine Months Ended Debt Instrument Debt Extinguished Gain on Extinguishment Debt Extinguished Gain (Loss) on Extinguishment 9.875% 2025 Senior Secured Notes $ — $ — $ 607 $ (85) 6.750% 2026 Senior Notes — — 16 (1) 1.500% 2025 Convertible Senior Notes — — 294 (16) 4.625% 2029 Senior Notes — — 130 8 4.875% 2031 Senior Notes 13 1 174 13 6.250% 2040 Senior Notes 28 3 28 3 IRBs due 2024 to 2028 — — 66 2 Total $ 41 $ 4 $ 1,315 $ (76) ABL Facility As of September 30, 2022, we were in compliance with the ABL Facility liquidity requirements and, therefore, the springing financial covenant requiring a minimum fixed charge coverage ratio of 1.0 to 1.0 was not applicable. The following represents a summary of our borrowing capacity under the ABL Facility: (In Millions) September 30, Available borrowing base on ABL Facility 1 $ 4,500 Borrowings (2,090) Letter of credit obligations 2 (166) Borrowing capacity available $ 2,244 1 As of September 30, 2022, the ABL Facility has a maximum available borrowing base of $4.5 billion. The borrowing base is determined by applying customary advance rates to eligible accounts receivable, inventory and certain mobile equipment. 2 We issued standby letters of credit with certain financial institutions in order to support business obligations, including, but not limited to, workers' compensation, employee severance, insurance, operating agreements and environmental obligations. Debt Maturities The following represents a summary of our maturities of debt instruments based on the principal amounts outstanding at September 30, 2022: (In Millions) Maturities of Debt 2022 (remaining period of year) $ — 2023 — 2024 — 2025 2,090 2026 829 Thereafter 1,616 Total maturities of debt $ 4,535

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	9 Months Ended
	Sep. 30, 2022
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	NOTE 9 - FAIR VALUE MEASUREMENTS The carrying values of certain financial instruments (e.g., Accounts receivable, net , Accounts payable and Other current liabilities ) approximate fair value and, therefore, have been excluded from the table below. See NOTE 13 - DERIVATIVE INSTRUMENTS for information on our derivative instruments, which are accounted for at fair value on a recurring basis. A summary of the carrying value and fair value of other financial instruments were as follows: (In Millions) September 30, 2022 December 31, 2021 Classification Carrying Value Fair Carrying Value Fair Senior notes Level 1 $ 2,385 $ 2,219 $ 3,561 $ 3,911 IRBs due 2024 to 2028 Level 1 — — 68 66 ABL Facility - outstanding balance Level 2 2,090 2,090 1,609 1,609 Total $ 4,475 $ 4,309 $ 5,238 $ 5,586

PENSIONS AND OTHER POSTRETIREME

PENSIONS AND OTHER POSTRETIREMENT BENEFITS	9 Months Ended
	Sep. 30, 2022
Postemployment Benefits [Abstract]
PENSIONS AND OTHER POSTRETIREMENT BENEFITS	NOTE 10 - PENSIONS AND OTHER POSTRETIREMENT BENEFITS We offer defined benefit pension plans, defined contribution pension plans and OPEB plans to a significant portion of our employees and retirees. Benefits are also provided through multiemployer plans for certain union members. The following are the components of defined benefit pension and OPEB costs (credits): Defined Benefit Pension Costs (Credits) (In Millions) Three Months Ended Nine Months Ended 2022 2021 2022 2021 Service cost $ 11 $ 14 $ 35 $ 42 Interest cost 32 26 95 78 Expected return on plan assets (93) (89) (277) (269) Amortization: Prior service costs 1 1 1 1 Net actuarial loss 4 8 11 24 Net periodic benefit credits $ (45) $ (40) $ (135) $ (124) OPEB Costs (Credits) (In Millions) Three Months Ended Nine Months Ended 2022 2021 2022 2021 Service cost $ 11 $ 13 $ 32 $ 38 Interest cost 19 19 59 56 Expected return on plan assets (10) (10) (29) (30) Amortization: Prior service costs (credits) 1 (2) 1 (2) Net actuarial loss (gain) (3) 1 (9) 3 Net periodic benefit costs $ 18 $ 21 $ 54 $ 65 Based on funding requirements, we made $1 million defined benefit pension contributions for both the three and nine months ended September 30, 2022. Based on funding requirements, we made defined benefit pension contributions of $1 million and $154 million for the three and nine months ended September 30, 2021, respectively . As a result of the CARES Act (Coronavirus Aid, Relief, and Economic Security Act) enacted on March 27, 2020, we defer red $118 million of 2020 pension contributions, which were paid on January 4, 2021. We made contributions to our voluntary employee benefit association trust pla ns of $24 million and $80 million f or the three and nine months ended September 30, 2022, respectively, and $22 million and $27 million for the three and nine months ended September 30, 2021, respectively. USW Labor Agreement - Legacy Mining Operations On September 30, 2022, a new 47-month labor agreement with the USW was ratified. The contract became effective on October 1, 2022, and covers approximately 2,000 USW-represented employees at our United Taconite, Hibbing Taconite, Tilden and Empire mines. For the affected defined benefit pension plans, we agreed to increase the pre-2023 service multiplier to $115 and the service multiplier applicable to service beginning in 2023 to $126 for retirements after January 1, 2023. For the affected OPEB plans, we introduced a new Medicare Advantage plan to the Medicare-eligible retirees. Effective January 1, 2023, all Medicare-eligible retirees covered under this agreement will switch to this plan. The Medicare Advantage plan will offer similar benefits to the previous healthcare plan but will have significantly lower premiums due to increased government subsidies and our successful use of scale to negotiate better healthcare rates with our vendors. As a result of the increase in pension benefit and conversion to the Medicare Advantage offering, we were required to remeasure the plan assets and benefit obligations for the affected plans as of September 30, 2022. The remeasurement reflects updates for plan amendments, discount rates, assets values and other actuarial assumptions as of the remeasurement date. The funded status of the affected defined benefit pension plans improved $38 million as a result of the remeasurement. Actuarial gains on the pension benefit obligations amounted to $247 million, offset by plan amendment losses of $32 million and actual plan asset losses that were $177 million lower than the estimated returns on assets. The actuarial gain is primarily due to the increase in the weighted average discount rate used to measure the benefit obligations from 2.97% at December 31, 2021 to 5.64% at the remeasurement date. The plan amendment loss is attributable to the service multiplier increase. The funded status of the affected OPEB plans improved $81 million as a result of the remeasurement. Actuarial gains and plan amendment gains on the benefit obligations amounted to $76 million and $86 million, respectively, and were offset by actual plan asset losses that were $81 million lower than the estimated returns on assets. The actuarial gain is primarily due to the increase in the weighted average discount rate used to measure the benefit obligations from 2.91% at December 31, 2021 to 5.64% at the remeasurement date. The plan amendment gain is attributable to the implementation of the new Medicare Advantage offering. Our expected net periodic benefit credit will decrease $3 million to $104 million for the full-year 2022 as a result of the remeasurements.

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2022
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE 11 - INCOME TAXES Our 2022 estimated annual effective tax rate before discrete items as of September 30, 2022 is 20%. The estimated annual effective tax rate is lower than the U.S. statutory rate of 21% due to percentage depletion in excess of cost depletion. The 2021 estimated annual effective tax rate before discrete items as of September 30, 2021 was 21%. The decrease in the estimated annual effective tax rate before discrete items is driven by the change in income and the percentage depletion in excess of cost depletion. On August 16, 2022, the Inflation Reduction Act was signed into law in the U.S., which, among other things, implements a 15% minimum tax on book income of certain large corporations, a 1% excise tax on net stock repurchases and several tax incentives to promote clean energy. Based on our current analysis of the provisions, we do not believe that this legislation will have a material impact on our consolidated financial statements.

ASSET RETIREMENT OBLIGATIONS

ASSET RETIREMENT OBLIGATIONS	9 Months Ended
	Sep. 30, 2022
Asset Retirement Obligation [Abstract]
ASSET RETIREMENT OBLIGATIONS	NOTE 12 - ASSET RETIREMENT OBLIGATIONS The following is a summary of our asset retirement obligations: (In Millions) September 30, December 31, Asset retirement obligations 1 $ 522 $ 449 Less: current portion 17 35 Long-term asset retirement obligations $ 505 $ 414 1 Includes $279 million and $293 million related to our active operations as of September 30, 2022 and December 31, 2021, respectively. The accrued closure obligation provides for contractual and legal obligations related to our indefinitely idled and closed operations and for the eventual closure of our active operations. The closure date for each of our active mine sites was determined based on the exhaustion date of the remaining mineral reserves, and the amortization of the related asset and accretion of the liability is recognized over the estimated mine lives. The closure date and expected timing of the capital requirements to meet our obligations for our indefinitely idled or closed mines is determined based on the unique circumstances of each property. For indefinitely idled or closed mines, the accretion of the liability is recognized over the anticipated timing of remediation. As the majority of our asset retirement obligations at our steelmaking operations have indeterminate settlement dates, asset retirement obligations have been recorded at present values using estimated ranges of the economic lives of the underlying assets. The following is a roll forward of our asset retirement obligation liability: (In Millions) 2022 2021 Asset retirement obligation as of January 1 $ 449 $ 342 Increase from acquisitions — 57 Accretion expense 21 13 Reclassification from environmental obligations 63 — Revision in estimated cash flows 22 — Remediation payments (33) (20) Asset retirement obligation as of September 30 $ 522 $ 392 The increase from revision in estimated cash flows primarily relates to rising electricity costs associated with required water management systems related to closed coal mines in Pennsylvania.

DERIVATIVE INSTRUMENTS

DERIVATIVE INSTRUMENTS	9 Months Ended
	Sep. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	NOTE 13 - DERIVATIVE INSTRUMENTS We are exposed to fluctuations in market prices of raw materials and energy sources. We may use cash-settled commodity swaps to hedge the market risk associated with the purchase of certain of our raw materials and energy requirements. Our hedging strategy is to reduce the effect on earnings from the price volatility of these various commodity exposures, including timing differences between when we incur raw material commodity costs and when we receive sales surcharges from our customers based on those raw materials. Independent of any hedging activities, price changes in any of these commodity markets could negatively affect operating costs. Our commodity contracts are designated as cash flow hedges for accounting purposes, and we record the gains and losses for the derivatives in Accumulated other comprehensive income until we reclassify them into Cost of goods sold when we recognize the associated underlying operating costs. Refer to NOTE 15 - ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) for further information. The following table presents the notional amount of our outstanding hedge contracts: September 30, 2022 December 31, Commodity Contracts Unit of Measure Maturity Dates Notional Amount Notional Amount Natural Gas MMBtu October 2022 - 138,380,000 92,591,000 Zinc Metric tons October 2022 - 4,023 16,092 Electricity Megawatt hours January 2023 - 432,043 — Tin Metric tons October 2022 - 225 — The following table presents the fair value of our cash flow hedges and the classification in the Statements of Unaudited Condensed Consolidated Financial Position: (In Millions) Balance Sheet Location September 30, December 31, Other current assets $ 86 $ 40 Other non-current assets 54 — Other current liabilities (24) (10) Other non-current liabilities (8) (4)

CAPITAL STOCK

CAPITAL STOCK	9 Months Ended
	Sep. 30, 2022
Stockholders' Equity Note [Abstract]
CAPITAL STOCK	NOTE 14 - CAPITAL STOCK Share Repurchase Program On February 10, 2022, our Board of Directors authorized a program to repurchase outstanding common shares in the open market or in privately negotiated transactions, which may include purchases pursuant to Rule 10b5-1 plans or accelerated share repurchases, up to a maximum of $1 billion. We are not obligated to make any purchases and the program may be suspended or discontinued at any time. The share repurchase program does not have a specific expiration date. During the three and nine months ended September 30, 2022, we repurc hased 2.0 million and 10.5 million common shares, respectively, at a cost of $34 million and $210 million in the aggregate, respectively. Underwritten Public Offering On February 11, 2021, we sold 20 million of our common shares and 40 million common shares were sold by an affiliate of ArcelorMittal in an underwritten public offering. In each case, shares were sold at a price per share of $16.12. Prior to this sale, ArcelorMittal held approximately 78 million of our common shares, which were issued as a part of the consideration in connection with the AM USA Transaction. We did not receive any proceeds from the sale of the 40 million common shares sold on behalf of ArcelorMittal. We used the net proceeds from the offering, plus cash on hand, to redeem $322 million aggregate principal amount of our outstanding 9.875% 2025 Senior Secured Notes. Preferred Stock We have 3 million shares of Serial Preferred Stock, Class A, without par value, authorized and 4 million shares of Serial Preferred Stock, Class B, without par value, authorized; no preferred shares are issued or outstanding.

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	9 Months Ended
	Sep. 30, 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 Nine Months Ended 2022 2021 2022 2021 Foreign Currency Translation Beginning balance $ (1) $ 2 $ 1 $ 3 Other comprehensive loss before reclassifications (2) — (4) (1) Ending balance $ (3) $ 2 $ (3) $ 2 Derivative Instruments Beginning balance $ 109 $ 53 $ 68 $ (1) Other comprehensive income before reclassifications 154 118 292 192 Income tax (38) (25) (69) (40) Other comprehensive income before reclassifications, net of tax 116 93 223 152 Gains reclassified from AOCI to net income 1 (74) (13) (158) (19) Income tax expense 2 19 3 37 4 Net gains reclassified from AOCI to net income (55) (10) (121) (15) Ending balance $ 170 $ 136 $ 170 $ 136 Pension and OPEB Beginning balance $ 550 $ (121) $ 549 $ (135) Other comprehensive income before reclassifications 4 119 — 119 — Income tax (28) — (28) — Other comprehensive income before reclassifications, net of tax 91 — 91 — Losses reclassified from AOCI to net income 3 3 8 4 26 Income tax benefit 2 (1) (2) (1) (6) Net losses reclassified from AOCI to net income 2 6 3 20 Ending balance $ 643 $ (115) $ 643 $ (115) Total AOCI Ending Balance $ 810 $ 23 $ 810 $ 23 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. 4 Amounts relate to the net actuarial gain triggered by the interim remeasurement on the pension and OPEB plans affected by the USW labor agreement with our legacy mining operations. Refer to NOTE 10 - PENSIONS AND OTHER POSTRETIREMENT BENEFITS for further information.

VARIABLE INTEREST ENTITIES

VARIABLE INTEREST ENTITIES	9 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
VARIABLE INTEREST ENTITIES	NOTE 16 - VARIABLE INTEREST ENTITIES SunCoke Middletown We purchase all the coke and electrical power generated from SunCoke Middletown’s plant under long-term supply agreements and have committed to purchase all the expected production from the facility through 2032. We consolidate SunCoke Middletown as a VIE because we are the primary beneficiary despite having no ownership interest in SunCoke Middletown. SunCoke Middletown had income before income taxes of $14 million and $36 million for the three and nine months ended September 30, 2022, respectively, compared to $11 million and $43 million for the three and nine months ended September 30, 2021, respectively, that was included in our consolidated income before income taxes. The assets of the consolidated VIE can only be used to settle the obligations of the consolidated VIE and not obligations of the Company. The creditors of SunCoke Middletown do not have recourse to the assets or general credit of the Company to satisfy liabilities of the VIE. The Statements of Unaudited Condensed Consolidated Financial Position includes the following amounts for SunCoke Middletown: (In Millions) September 30, December 31, Cash and cash equivalents $ — $ — Inventories 34 20 Property, plant and equipment, net 292 300 Accounts payable (24) (12) Other assets (liabilities), net (22) (12) Noncontrolling interests (280) (296)

EARNINGS PER SHARE

EARNINGS PER SHARE	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
EARNINGS PER SHARE	NOTE 17 - EARNINGS PER SHARE The following table summarizes the computation of basic and diluted earnings per share: (In Millions, Except Per Share Amounts) Three Months Ended Nine Months Ended 2022 2021 2022 2021 Income from continuing operations $ 165 $ 1,281 $ 1,578 $ 2,132 Income from continuing operations attributable to noncontrolling interest (13) (8) (31) (39) Net income from continuing operations attributable to Cliffs shareholders 152 1,273 1,547 2,093 Income from discontinued operations, net of tax — 1 2 2 Net income attributable to Cliffs shareholders $ 152 $ 1,274 $ 1,549 $ 2,095 Weighted average number of shares: Basic 516 500 520 497 Redeemable preferred shares — 17 — 44 Convertible senior notes 1 — 24 2 21 Employee stock plans 3 6 4 5 Diluted 519 547 526 567 Earnings per common share attributable to Cliffs shareholders - basic 2 : Continuing operations $ 0.30 $ 2.46 $ 2.98 $ 3.87 Discontinued operations — — — — $ 0.30 $ 2.46 $ 2.98 $ 3.87 Earnings per common share attributable to Cliffs shareholders - diluted: Continuing operations $ 0.29 $ 2.33 $ 2.95 $ 3.69 Discontinued operations — — — — $ 0.29 $ 2.33 $ 2.95 $ 3.69 1 On January 1, 2022, we adopted ASU 2020-06, Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity's Own Equity (Subtopic 815-40). We utilized the modified retrospective method of adoption; using this approach, the guidance was applied to transactions outstanding as of the beginning of the fiscal year. 2 For the three and nine months ended September 30, 2021, basic earnings per share is calculated by dividing Net income attributable to Cliffs shareholders , less $42 million and $172 million, respectively, of earnings attributed to Series B Participating Redeemable Preferred Stock, by the weighted average number of basic common shares outstanding during the period presented.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 18 - COMMITMENTS AND CONTINGENCIES Purchase Commitments We purchase portions of the principal raw materials required for our steel manufacturing operations under annual and multi-year agreements, some of which have minimum quantity requirements. We also use large volumes of natural gas, electricity and industrial gases in our operations. We negotiate most of our purchases of chrome, industrial gases and a portion of our electricity under multi-year agreements. Our purchases of coke are made under annual or multi-year agreements with periodic price adjustments. We typically purchase coal under annual fixed-price agreements. We also purchase certain transportation services under multi-year contracts with minimum quantity requirements. Contingencies We are currently the subject of, or party to, various claims and legal proceedings incidental to our current and historical operations. These claims and legal proceedings are subject to inherent uncertainties and unfavorable rulings could occur. An unfavorable ruling could include monetary damages, additional funding requirements or an injunction. If an unfavorable ruling were to occur, there exists the possibility of a material adverse effect on the financial position and results of operations for the period in which the ruling occurs or future periods. However, based on currently available information, we do not believe that any pending claims or legal proceedings will result in a material adverse effect in relation to our consolidated financial statements. Environmental Contingencies Although we believe our operating practices have been consistent with prevailing industry standards, hazardous materials may have been released at operating sites or third-party sites in the past, including operating sites that we no longer own. If we reasonably can, we estimate potential remediation expenditures for those sites where future remediation efforts are probable based on identified conditions, regulatory requirements or contractual obligations arising from the sale of a business or facility. For sites involving government-required investigations, we typically make an estimate of potential remediation expenditures only after the scope of remediation is determined or approved by the relevant environmental agencies. In general, the material factors in these estimates include the costs associated with investigations, delineations, risk assessments, remedial work, governmental response and oversight, site monitoring and preparation of reports to the appropriate environmental agencies. The following is a summary of our environmental obligations: (In Millions) September 30, December 31, Environmental obligations $ 143 $ 207 Less: current portion 18 20 Long-term environmental obligations $ 125 $ 187 The decrease in environmental obligations relates to a reclassification of $63 million from environmental to asset retirement obligations as of September 30, 2022. We cannot predict the ultimate costs for each site with certainty because of the evolving nature of the investigation and remediation process. Rather, to estimate the probable costs, we must make certain assumptions. The most significant of these assumptions is for the nature and scope of the work that will be necessary to investigate and remediate a particular site and the cost of that work. Other significant assumptions include the cleanup technology that will be used, whether and to what extent any other parties will participate in paying the investigation and remediation costs, reimbursement of past response costs and future oversight costs by governmental agencies, and the reaction of the governing environmental agencies to the proposed work plans. Costs for future investigation and remediation are not discounted to their present value, unless the amount and timing of the cash disbursements are readily known. To the extent that we have been able to reasonably estimate future liabilities, we do not believe that there is a reasonable possibility that we will incur a loss or losses that exceed the amounts we accrued for the environmental matters discussed below that would, either individually or in the aggregate, have a material adverse effect on our consolidated financial condition, results of operations or cash flows. However, since we recognize amounts in the consolidated financial statements in accordance with GAAP that exclude potential losses that are not probable or that may not be currently estimable, the ultimate costs of these environmental matters may be higher than the liabilities we currently have recorded in our consolidated financial statements. Pursuant to RCRA, which governs the treatment, handling and disposal of hazardous waste, the EPA and authorized state environmental agencies may conduct inspections of RCRA-regulated facilities to identify areas where there have been releases of hazardous waste or hazardous constituents into the environment and may order the facilities to take corrective action to remediate such releases. Likewise, the EPA or the states may require closure or post-closure care of residual, industrial and hazardous waste management units. Environmental regulators have the authority to inspect all of our facilities. While we cannot predict the future actions of these regulators, it is possible that they may identify conditions in future inspections of these facilities that they believe require corrective action. Pursuant to CERCLA, the EPA and state environmental authorities have conducted site investigations at some of our facilities and other third-party facilities, portions of which previously may have been used for disposal of materials that are currently regulated. The results of these investigations are still pending, and we could be directed to spend funds for remedial activities at the former disposal areas. Because of the uncertain status of these investigations, however, we cannot reasonably predict whether or when such spending might be required or its magnitude. On April 29, 2002, AK Steel entered a mutually agreed-upon administrative order with the consent of the EPA pursuant to Section 122 of CERCLA to perform a RI/FS of the Hamilton plant site located in New Miami, Ohio. The plant ceased operations in 1990 and all of its former structures have been demolished. AK Steel submitted the investigation portion of the RI/FS and completed supplemental studies. Until the RI/FS is complete, we cannot reasonably estimate the additional costs, if any, we may incur for potentially required remediation of the site or when we may incur them. Burns Harbor Water Issues In August 2019, ArcelorMittal Burns Harbor LLC (n/k/a Cleveland-Cliffs Burns Harbor LLC) suffered a loss of the blast furnace cooling water recycle system, which led to the discharge of cyanide and ammonia in excess of the Burns Harbor plant's NPDES permit limits. Since that time, the facility has taken numerous steps to prevent recurrence and maintain compliance with its NPDES permit. We engaged in settlement discussions with the U.S. Department of Justice, the EPA and the State of Indiana to resolve any alleged violations of environmental laws or regulations arising out of the August 2019 event. Later stages of the settlement discussions included the Environmental Law and Policy Center (ELPC) and Hoosier Environmental Council (HEC), which had filed a lawsuit on December 20, 2019 in the U.S. District Court for the Northern District of Indiana alleging violations resulting from the August 2019 event and other Clean Water Act claims. On February 14, 2022, the United States and the State of Indiana filed a complaint and a proposed consent decree, and on April 21, 2022, the United States, with the consent of all of the parties, filed a motion seeking final approval of the consent decree from the court. The consent decree was approved by the court with an effective date of May 6, 2022. The consent decree requires specified enhancements to the mill's wastewater treatment systems and required us to pay a $3 million civil penalty, along with other terms and conditions. Other parties to the consent decree include the United States, the State of Indiana, ELPC and HEC. The ELPC/HEC civil litigation was dismissed with prejudice on May 12, 2022. In addition, ArcelorMittal Burns Harbor LLC was served with a subpoena on December 5, 2019, from the United States District Court for the Northern District of Indiana, relating to the August 2019 event and has responded to the subpoena requests, including follow-up requests. With the resolution of monetary sanctions and injunctive relief requirements under the consent decree, we do not believe that the costs to resolve any other third-party claims, including potential natural resource damages claims, that may arise out of the August 2019 event are likely to have, individually or in the aggregate, a material adverse effect on our consolidated financial condition, results of operations or cash flows. In addition to the foregoing matters, we are or may be involved in proceedings with various regulatory authorities that may require us to pay fines, comply with more rigorous standards or other requirements, or incur capital and operating expenses for environmental compliance. We believe that the ultimate disposition of any such proceedings will not have, individually or in the aggregate, a material adverse effect on our consolidated financial condition, results of operations or cash flows. Tax Matters The calculation of our tax liabilities involves dealing with uncertainties in the application of complex tax regulations. We recognize liabilities for anticipated tax audit issues based on our estimate of whether, and the extent to which, additional taxes will be due. If we ultimately determine that payment of these amounts is unnecessary, we reverse the liability and recognize a tax benefit during the period in which we determine that the liability is no longer necessary. We also recognize tax benefits to the extent that it is more likely than not that our positions will be sustained when challenged by the taxing authorities. To the extent we prevail in matters for which liabilities have been established, or are required to pay amounts in excess of our liabilities, our effective tax rate in a given period could be materially affected. An unfavorable tax settlement would require use of our cash and result in an increase in our effective tax rate in the year of resolution. A favorable tax settlement would be recognized as a reduction in our effective tax rate in the year of resolution. Other Contingencies In addition to the matters discussed above, there are various pending and potential claims against us and our subsidiaries involving product liability, personal injury, commercial, employee benefits and other matters arising in the ordinary course of business. Because of the considerable uncertainties that exist for any claim, it is difficult to reliably or accurately estimate what the amount of a loss would be if a claimant prevails. If material assumptions or factual understandings we rely on to evaluate exposure for these contingencies prove to be inaccurate or otherwise change, we may be required to record a liability for an adverse outcome. If, however, we have reasonably evaluated potential future liabilities for all of these contingencies, including those described more specifically above, it is our opinion, unless we otherwise noted, that the ultimate liability from these contingencies, individually or in the aggregate, should not have a material adverse effect on our consolidated financial position, results of operations or cash flows.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Sep. 30, 2022
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 19 - SUBSEQUENT EVENTS On October 12, 2022, we announced the ratification of a new 4-year labor agreement with the USW, covering 12,000 USW-represented employees at 13 operating locations. As a result of significant pension and OPEB plan amendments in the agreement, we will be required to remeasure the plan assets and benefit obligations for the affected defined benefit pension and OPEB plans as of the October 12, 2022 ratification date. The following table sets forth amounts recognized in the Statements of Financial Position related to pension and OPEB: • on an actual basis as of September 30, 2022 reflecting our consolidated pension and OPEB; and • on a pro forma basis as of September 30, 2022 to give effect to the remeasurement of pension and OPEB plans affected by the October 12, 2022 ratification. The pro forma column is presented with pro forma data pursuant to ASC 855-10-50-3. (In Millions) Pension Benefits OPEB Actual Pro forma Actual Pro forma September 30, September 30, September 30, September 30, Non-current assets $ 227 $ 227 $ 163 $ 163 Current liabilities (4) (4) (130) (94) Non-current liabilities (464) (558) (2,287) (801) Funded Status $ (241) $ (335) $ (2,254) $ (732) The remeasurement reflects updates for plan amendments, discount rates, asset values, and other actuarial assumptions as of September 30, 2022 for the affected plans. The funded status of the affected defined benefit pension plans decreased $94 million as a result of the remeasurement. Actuarial gains on the benefit obligations amounted to $648 million, offset by plan amendment losses of $90 million and actual plan asset losses that were $652 million lower than the estimated returns on assets. The actuarial gain is primarily due to the increase in the weighted average discount rate used to measure the benefit obligations from 2.74% at December 31, 2021 to 5.61% at the remeasurement date. The plan amendment loss is attributable to the increase to the pre-2023 service multiplier to $115 and the service multiplier applicable to service beginning in 2023 to $126 for retirements after January 1, 2023. The funded status of the affected OPEB plans improved $1,522 million as a result of the remeasurement. Actuarial gains and plan amendment gains on the benefit obligations amounted to $1,460 million and $62 million, respectively. The actuarial gain is primarily due to the decrease in per capita health care costs and the increase in the weighted average discount rate used to measure the benefit obligations from 3.12% at December 31, 2021 to 5.63% at the remeasurement date. The lower health care costs are attributable to newly negotiated Medicare Advantage Prescription Drug rates, which are a result of increased government subsidies and our successful use of scale to negotiate better healthcare rates with our vendors. The plan amendment gain is attributable to the implementation of a cap on healthcare costs for employees retiring after January 1, 2026.

BASIS OF PRESENTATION AND SIG_2

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Consolidation	Basis of ConsolidationThe unaudited condensed consolidated financial statements consolidate our accounts and the accounts of our wholly owned subsidiaries, all subsidiaries in which we have a controlling interest and VIEs for which we are the primary beneficiary. All intercompany transactions and balances are eliminated upon consolidation.
Investment in Affiliates	Investments in Affiliates We have investments in several businesses accounted for using the equity method of accounting. As of September 30, 2022 and December 31, 2021, our investment in affiliates of $134 million and $128 million, respectively, was classified in Other non-current assets.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Issued and Adopted In August 2020, the FASB issued ASU 2020-06, Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40). This update requires certain convertible instruments to be accounted for as a single liability measured at its amortized cost. Additionally, the update requires the use of the "if-converted" method, removing the treasury stock method, when calculating diluted shares. We utilized the modified retrospective method of adoption; using this approach, the guidance was applied to transactions outstanding as of the beginning of the fiscal year in which the amendment was adopted. On January 18, 2022, we redeemed all of our outstanding 1.500% 2025 Convertible Senior Notes; therefore, there was a de minimis impact as a result of our adoption of this update. Issued and Not Yet Effective In September 2022, the FASB issued ASU No. 2022-04, Liabilities - Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations . This guidance requires annual and interim disclosure of the key terms of outstanding supplier finance programs and a rollforward of the related obligations. The new standard does not affect the recognition, measurement or financial statement presentation of the supplier finance program obligations. These amendments are effective for fiscal years beginning after December 15, 2022, except for the amendment on rollforward information, which is effective for fiscal years beginning after December 15, 2023. Upon adoption, we may be required to include additional disclosures to the extent we have material supplier finance program obligations.

SUPPLEMENTARY FINANCIAL STATE_2

SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION (Tables)	9 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Allowance for Credit Losses	The following is a roll-forward of our allowance for credit losses associated with Accounts receivable, net : (In Millions) 2022 2021 Allowance for credit losses as of January 1 $ (4) $ (5) Increase in allowance (1) — Allowance for credit losses as of September 30 $ (5) $ (5)
Schedule of Inventory	The following table presents the detail of our Inventories in the Statements of Unaudited Condensed Consolidated Financial Position: (In Millions) September 30, December 31, Product inventories Finished and semi-finished goods $ 3,084 $ 2,814 Raw materials 2,111 2,070 Total product inventories 5,195 4,884 Manufacturing supplies and critical spares 347 304 Inventories $ 5,542 $ 5,188
Schedule of Supplemental Cash Flow Information	A reconciliation of capital additions to cash paid for capital expenditures is as follows: (In Millions) Nine Months Ended 2022 2021 Capital additions $ 736 $ 572 Less: Non-cash accruals (10) 64 Right-of-use assets - finance leases 30 35 Cash paid for capital expenditures including deposits $ 716 $ 473 Cash payments (receipts) for income taxes and interest are as follows: (In Millions) Nine Months Ended 2022 2021 Taxes paid on income $ 306 $ 38 Income tax refunds (3) (15) Interest paid on debt obligations net of capitalized interest 1 201 231 1 Capitalized interest was $7 million and $4 million for the nine months ended September 30, 2022 and 2021, respectively.

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	9 Months Ended
	Sep. 30, 2022
Business Combination and Asset Acquisition [Abstract]
Schedule of Business Acquisitions by Acquisition	The fair value of the total purchase consideration was determined as follows: (In Millions) Cash consideration: Cash consideration pursuant to the FPT Acquisition Agreement $ 778 Cash consideration paid related to Internal Revenue Code Section 338(h)(10) 23 Total cash consideration 801 Fair value of settlement of a pre-existing relationship (20) Total purchase consideration $ 781
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The preliminary purchase price allocation to assets acquired and liabilities assumed in the FPT Acquisition was: (In Millions) Initial Allocation of Consideration Measurement Period Adjustments Updated Allocation Cash and cash equivalents $ 9 $ — $ 9 Accounts receivable, net 233 2 235 Inventories 137 (1) 136 Other current assets 4 — 4 Property, plant and equipment 179 12 191 Other non-current assets 74 (11) 63 Accounts payable (122) — (122) Accrued employment costs (8) — (8) Other current liabilities (9) — (9) Other non-current liabilities (21) (1) (22) Net identifiable assets acquired 476 1 477 Goodwill 279 25 304 Total net assets acquired $ 755 $ 26 $ 781
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination	The preliminary purchase price allocated to identifiable intangible assets acquired was: (In Millions) Weighted Average Life (In Years) Customer relationships $ 13 15 Supplier relationships 21 18 Trade names and trademarks 7 15 Total identifiable intangible assets $ 41 17

REVENUES (Tables)

REVENUES (Tables)	9 Months Ended
	Sep. 30, 2022
Revenue from Contract with Customer [Abstract]
Revenues by Market and Product Line	The following table represents our Revenues by market: (In Millions) (In Millions) Three Months Ended Nine Months Ended 2022 2021 2022 2021 Steelmaking: Automotive $ 1,734 $ 1,149 $ 4,985 $ 3,577 Infrastructure and manufacturing 1,462 1,603 4,619 3,889 Distributors and converters 1,468 2,447 5,137 5,672 Steel producers 847 670 2,740 1,572 Total Steelmaking 5,511 5,869 17,481 14,710 Other Businesses: Automotive 113 105 359 306 Infrastructure and manufacturing 14 12 43 33 Distributors and converters 15 18 62 49 Total Other Businesses 142 135 464 388 Total revenues $ 5,653 $ 6,004 $ 17,945 $ 15,098 The following tables represent our Revenues by product line: (Dollars in Millions, Three Months Ended September 30, 2022 2021 Revenue Volume Revenue Volume Steelmaking: Hot-rolled steel $ 1,050 1,055 $ 1,800 1,332 Cold-rolled steel 740 530 935 728 Coated steel 1,757 1,203 1,635 1,291 Stainless and electrical steel 596 196 441 177 Plate 432 228 357 244 Other steel products 370 423 374 381 Other 566 N/A 327 N/A Total Steelmaking 5,511 5,869 Other Businesses: Other 142 N/A 135 N/A Total revenues $ 5,653 $ 6,004 (Dollars in Millions, Nine Months Ended September 30, 2022 2021 Revenue Volume Revenue Volume Steelmaking: Hot-rolled steel $ 3,495 2,996 $ 4,204 3,900 Cold-rolled steel 2,593 1,771 2,352 2,196 Coated steel 5,338 3,636 4,338 3,907 Stainless and electrical steel 1,765 579 1,201 512 Plate 1,306 687 929 792 Other steel products 1,121 1,244 1,009 1,195 Other 1,863 N/A 677 N/A Total Steelmaking 17,481 14,710 Other Businesses: Other 464 N/A 388 N/A Total revenues $ 17,945 $ 15,098

SEGMENT REPORTING (Tables)

SEGMENT REPORTING (Tables)	9 Months Ended
	Sep. 30, 2022
Segment Reporting [Abstract]
Schedule Of Segment Reporting Information	Our results by segment are as follows: (In Millions) Three Months Ended Nine Months Ended 2022 2021 2022 2021 Revenues: Steelmaking $ 5,511 $ 5,869 $ 17,481 $ 14,710 Other Businesses 142 135 464 388 Total revenues $ 5,653 $ 6,004 $ 17,945 $ 15,098 Adjusted EBITDA: Steelmaking $ 436 $ 1,934 $ 2,967 $ 3,796 Other Businesses 9 6 58 25 Eliminations 1 7 (7) 8 (15) Total Adjusted EBITDA $ 452 $ 1,933 $ 3,033 $ 3,806 1 In 2022, we began allocating Corporate SG&A to our operating segments. Prior periods have been adjusted to reflect this change. The Eliminations line now only includes sales between segments. The following table provides a reconciliation of our consolidated Net income to total Adjusted EBITDA: (In Millions) Three Months Ended Nine Months Ended 2022 2021 2022 2021 Net income $ 165 $ 1,282 $ 1,580 $ 2,134 Less: Interest expense, net (64) (81) (205) (258) Income tax expense (10) (334) (404) (559) Depreciation, depletion and amortization (237) (239) (788) (664) 476 1,936 2,977 3,615 Less: EBITDA of noncontrolling interests 1 22 17 57 60 Asset impairment — — (29) — Gain (loss) on extinguishment of debt 4 — (76) (88) Severance costs (2) (3) (9) (15) Acquisition-related costs excluding severance costs — (1) (1) (3) Acquisition-related loss on equity method investment — — — (18) Amortization of inventory step-up — (11) — (129) Impact of discontinued operations — 1 2 2 Total Adjusted EBITDA $ 452 $ 1,933 $ 3,033 $ 3,806 1 EBITDA of noncontrolling interests includes the following: Net income attributable to noncontrolling interests $ 13 $ 8 $ 31 $ 39 Depreciation, depletion and amortization 9 9 26 21 EBITDA of noncontrolling interests $ 22 $ 17 $ 57 $ 60 The following table summarizes our depreciation, depletion and amortization and capital additions by segment: (In Millions) Three Months Ended Nine Months Ended 2022 2021 2022 2021 Depreciation, depletion and amortization: Steelmaking $ (227) $ (230) $ (758) $ (637) Other Businesses (10) (9) (30) (27) Total depreciation, depletion and amortization $ (237) $ (239) $ (788) $ (664) Capital additions 1 : Steelmaking $ 240 $ 233 $ 712 $ 512 Other Businesses 6 10 21 42 Corporate 1 — 3 18 Total capital additions $ 247 $ 243 $ 736 $ 572 1 Refer to NOTE 2 - SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION for additional information.
Reconciliation of Assets from Segment to Consolidated	The following summarizes our assets by segment: (In Millions) September 30, December 31, Assets: Steelmaking $ 18,843 $ 18,326 Other Businesses 313 306 Total segment assets 19,156 18,632 Corporate/Eliminations 532 343 Total assets $ 19,688 $ 18,975

PROPERTY, PLANT AND EQUIPMENT (

PROPERTY, PLANT AND EQUIPMENT (Tables)	9 Months Ended
	Sep. 30, 2022
Property, Plant and Equipment [Abstract]
Value Of Each Of The Major Classes Of Consolidated Depreciable Assets	The following table indicates the carrying value of each of the major classes of our depreciable assets: (In Millions) September 30, December 31, Land, land improvements and mineral rights $ 1,396 $ 1,291 Buildings 914 889 Equipment 9,042 8,709 Other 232 229 Construction in progress 534 408 Total property, plant and equipment 1 12,118 11,526 Allowance for depreciation and depletion (3,088) (2,340) Property, plant and equipment, net $ 9,030 $ 9,186 1 Includes right-of-use assets related to finance leases of $389 million and $411 million as of September 30, 2022 and December 31, 2021, respectively.

GOODWILL AND INTANGIBLE ASSET_2

GOODWILL AND INTANGIBLE ASSETS AND LIABILITIES (Tables)	9 Months Ended
	Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The following is a summary of Goodwill by segment: (In Millions) September 30, December 31, Steelmaking $ 967 $ 942 Other Businesses 174 174 Total goodwill $ 1,141 $ 1,116
Schedule of Intangible Assets and Liabilities	The following is a summary of our intangible assets and liabilities: (In Millions) September 30, 2022 December 31, 2021 Gross Amount Accumulated Amortization Net Amount Gross Amount Accumulated Amortization Net Amount Intangible assets 1 : Customer relationships $ 90 $ (12) $ 78 $ 95 $ (8) $ 87 Developed technology 60 (9) 51 60 (6) 54 Trade names and trademarks 18 (4) 14 18 (2) 16 Mining permits 72 (26) 46 72 (26) 46 Supplier relationships 21 (1) 20 18 — 18 Total intangible assets $ 261 $ (52) $ 209 $ 263 $ (42) $ 221 Intangible liabilities 2 : Above-market supply contracts $ (71) $ 18 $ (53) $ (71) $ 14 $ (57) 1 Intangible assets are classified as Other non-current assets. Amortization related to mining permits is recognized in Cost of goods sold . Amortization of all other intangible assets is recognized in Selling, general and administrative expenses. 2 Intangible liabilities are classified as Other non-current liabilities. Amortization of all intangible liabilities is recognized in Cost of goods sold .

DEBT AND CREDIT FACILITIES (Tab

DEBT AND CREDIT FACILITIES (Tables)	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
Schedule of Long-Term Debt	The following represents a summary of our long-term debt: (In Millions) Debt Instrument Issuer 1 Annual Effective Interest Rate September 30, December 31, Senior Secured Notes: 9.875% 2025 Senior Secured Notes Cliffs 10.57% $ — $ 607 6.750% 2026 Senior Secured Notes Cliffs 6.99% 829 845 Senior Unsecured Notes: 1.500% 2025 Convertible Senior Notes Cliffs 6.26% — 294 7.000% 2027 Senior Notes Cliffs 9.24% 73 73 7.000% 2027 AK Senior Notes AK Steel 9.24% 56 56 5.875% 2027 Senior Notes Cliffs 6.49% 556 556 4.625% 2029 Senior Notes Cliffs 4.63% 370 500 4.875% 2031 Senior Notes Cliffs 4.88% 326 500 6.250% 2040 Senior Notes Cliffs 6.34% 235 263 IRBs due 2024 to 2028 AK Steel Various — 66 ABL Facility Cliffs 2 Variable 3 2,090 1,609 Total principal amount 4,535 5,369 Unamortized discounts and issuance costs (60) (131) Total long-term debt $ 4,475 $ 5,238 1 Unless otherwise noted, references in this column and throughout this NOTE 8 - DEBT AND CREDIT FACILITIES to "Cliffs" are to Cleveland-Cliffs Inc., and references to "AK Steel" are to AK Steel Corporation (n/k/a Cleveland-Cliffs Steel Corporation). 2 Refers to Cleveland-Cliffs Inc. as borrower under our ABL Facility. 3 Our ABL Facility annual effective interest rate was 4.23% and 1.87%, respectively, as of September 30, 2022 and December 31, 2021.
Schedule of Extinguishment of Debt	The following is a summary of the debt extinguished and the respective impact on extinguishment: (In Millions) Three Months Ended Nine Months Ended Debt Instrument Debt Extinguished Gain on Extinguishment Debt Extinguished Gain (Loss) on Extinguishment 9.875% 2025 Senior Secured Notes $ — $ — $ 607 $ (85) 6.750% 2026 Senior Notes — — 16 (1) 1.500% 2025 Convertible Senior Notes — — 294 (16) 4.625% 2029 Senior Notes — — 130 8 4.875% 2031 Senior Notes 13 1 174 13 6.250% 2040 Senior Notes 28 3 28 3 IRBs due 2024 to 2028 — — 66 2 Total $ 41 $ 4 $ 1,315 $ (76)
Schedule of Line of Credit Facilities	The following represents a summary of our borrowing capacity under the ABL Facility: (In Millions) September 30, Available borrowing base on ABL Facility 1 $ 4,500 Borrowings (2,090) Letter of credit obligations 2 (166) Borrowing capacity available $ 2,244 1 As of September 30, 2022, the ABL Facility has a maximum available borrowing base of $4.5 billion. The borrowing base is determined by applying customary advance rates to eligible accounts receivable, inventory and certain mobile equipment. 2 We issued standby letters of credit with certain financial institutions in order to support business obligations, including, but not limited to, workers' compensation, employee severance, insurance, operating agreements and environmental obligations.
Schedule of Maturities of Long-term Debt	The following represents a summary of our maturities of debt instruments based on the principal amounts outstanding at September 30, 2022: (In Millions) Maturities of Debt 2022 (remaining period of year) $ — 2023 — 2024 — 2025 2,090 2026 829 Thereafter 1,616 Total maturities of debt $ 4,535

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	9 Months Ended
	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Schedule Of Carrying Value And Fair Value Of Financial Instruments	A summary of the carrying value and fair value of other financial instruments were as follows: (In Millions) September 30, 2022 December 31, 2021 Classification Carrying Value Fair Carrying Value Fair Senior notes Level 1 $ 2,385 $ 2,219 $ 3,561 $ 3,911 IRBs due 2024 to 2028 Level 1 — — 68 66 ABL Facility - outstanding balance Level 2 2,090 2,090 1,609 1,609 Total $ 4,475 $ 4,309 $ 5,238 $ 5,586

PENSIONS AND OTHER POSTRETIRE_2

PENSIONS AND OTHER POSTRETIREMENT BENEFITS (Tables)	9 Months Ended
	Sep. 30, 2022
Postemployment Benefits [Abstract]
Schedule of Net Benefit Costs	The following are the components of defined benefit pension and OPEB costs (credits): Defined Benefit Pension Costs (Credits) (In Millions) Three Months Ended Nine Months Ended 2022 2021 2022 2021 Service cost $ 11 $ 14 $ 35 $ 42 Interest cost 32 26 95 78 Expected return on plan assets (93) (89) (277) (269) Amortization: Prior service costs 1 1 1 1 Net actuarial loss 4 8 11 24 Net periodic benefit credits $ (45) $ (40) $ (135) $ (124) OPEB Costs (Credits) (In Millions) Three Months Ended Nine Months Ended 2022 2021 2022 2021 Service cost $ 11 $ 13 $ 32 $ 38 Interest cost 19 19 59 56 Expected return on plan assets (10) (10) (29) (30) Amortization: Prior service costs (credits) 1 (2) 1 (2) Net actuarial loss (gain) (3) 1 (9) 3 Net periodic benefit costs $ 18 $ 21 $ 54 $ 65

ASSET RETIREMENT OBLIGATIONS (T

ASSET RETIREMENT OBLIGATIONS (Tables)	9 Months Ended
	Sep. 30, 2022
Asset Retirement Obligation [Abstract]
Summary Of Asset Retirement Obligations	The following is a summary of our asset retirement obligations: (In Millions) September 30, December 31, Asset retirement obligations 1 $ 522 $ 449 Less: current portion 17 35 Long-term asset retirement obligations $ 505 $ 414 1 Includes $279 million and $293 million related to our active operations as of September 30, 2022 and December 31, 2021, respectively.
Schedule of Change in Asset Retirement Obligation	The following is a roll forward of our asset retirement obligation liability: (In Millions) 2022 2021 Asset retirement obligation as of January 1 $ 449 $ 342 Increase from acquisitions — 57 Accretion expense 21 13 Reclassification from environmental obligations 63 — Revision in estimated cash flows 22 — Remediation payments (33) (20) Asset retirement obligation as of September 30 $ 522 $ 392

DERIVATIVE INSTRUMENTS (Tables)

DERIVATIVE INSTRUMENTS (Tables)	9 Months Ended
	Sep. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Notional Amounts of Outstanding Derivative Positions	The following table presents the notional amount of our outstanding hedge contracts: September 30, 2022 December 31, Commodity Contracts Unit of Measure Maturity Dates Notional Amount Notional Amount Natural Gas MMBtu October 2022 - 138,380,000 92,591,000 Zinc Metric tons October 2022 - 4,023 16,092 Electricity Megawatt hours January 2023 - 432,043 — Tin Metric tons October 2022 - 225 —
Schedule Of Derivative Instruments In Statement Of Financial Position, Fair Value	The following table presents the fair value of our cash flow hedges and the classification in the Statements of Unaudited Condensed Consolidated Financial Position: (In Millions) Balance Sheet Location September 30, December 31, Other current assets $ 86 $ 40 Other non-current assets 54 — Other current liabilities (24) (10) Other non-current liabilities (8) (4)

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)	9 Months Ended
	Sep. 30, 2022
Equity [Abstract]
Schedule of 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 Nine Months Ended 2022 2021 2022 2021 Foreign Currency Translation Beginning balance $ (1) $ 2 $ 1 $ 3 Other comprehensive loss before reclassifications (2) — (4) (1) Ending balance $ (3) $ 2 $ (3) $ 2 Derivative Instruments Beginning balance $ 109 $ 53 $ 68 $ (1) Other comprehensive income before reclassifications 154 118 292 192 Income tax (38) (25) (69) (40) Other comprehensive income before reclassifications, net of tax 116 93 223 152 Gains reclassified from AOCI to net income 1 (74) (13) (158) (19) Income tax expense 2 19 3 37 4 Net gains reclassified from AOCI to net income (55) (10) (121) (15) Ending balance $ 170 $ 136 $ 170 $ 136 Pension and OPEB Beginning balance $ 550 $ (121) $ 549 $ (135) Other comprehensive income before reclassifications 4 119 — 119 — Income tax (28) — (28) — Other comprehensive income before reclassifications, net of tax 91 — 91 — Losses reclassified from AOCI to net income 3 3 8 4 26 Income tax benefit 2 (1) (2) (1) (6) Net losses reclassified from AOCI to net income 2 6 3 20 Ending balance $ 643 $ (115) $ 643 $ (115) Total AOCI Ending Balance $ 810 $ 23 $ 810 $ 23 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. 4 Amounts relate to the net actuarial gain triggered by the interim remeasurement on the pension and OPEB plans affected by the USW labor agreement with our legacy mining operations. Refer to NOTE 10 - PENSIONS AND OTHER POSTRETIREMENT BENEFITS for further information.

VARIABLE INTEREST ENTITIES (Tab

VARIABLE INTEREST ENTITIES (Tables)	9 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Variable Interest Entities	The Statements of Unaudited Condensed Consolidated Financial Position includes the following amounts for SunCoke Middletown: (In Millions) September 30, December 31, Cash and cash equivalents $ — $ — Inventories 34 20 Property, plant and equipment, net 292 300 Accounts payable (24) (12) Other assets (liabilities), net (22) (12) Noncontrolling interests (280) (296)

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Earnings Per Share Computation	The following table summarizes the computation of basic and diluted earnings per share: (In Millions, Except Per Share Amounts) Three Months Ended Nine Months Ended 2022 2021 2022 2021 Income from continuing operations $ 165 $ 1,281 $ 1,578 $ 2,132 Income from continuing operations attributable to noncontrolling interest (13) (8) (31) (39) Net income from continuing operations attributable to Cliffs shareholders 152 1,273 1,547 2,093 Income from discontinued operations, net of tax — 1 2 2 Net income attributable to Cliffs shareholders $ 152 $ 1,274 $ 1,549 $ 2,095 Weighted average number of shares: Basic 516 500 520 497 Redeemable preferred shares — 17 — 44 Convertible senior notes 1 — 24 2 21 Employee stock plans 3 6 4 5 Diluted 519 547 526 567 Earnings per common share attributable to Cliffs shareholders - basic 2 : Continuing operations $ 0.30 $ 2.46 $ 2.98 $ 3.87 Discontinued operations — — — — $ 0.30 $ 2.46 $ 2.98 $ 3.87 Earnings per common share attributable to Cliffs shareholders - diluted: Continuing operations $ 0.29 $ 2.33 $ 2.95 $ 3.69 Discontinued operations — — — — $ 0.29 $ 2.33 $ 2.95 $ 3.69 1 On January 1, 2022, we adopted ASU 2020-06, Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity's Own Equity (Subtopic 815-40). We utilized the modified retrospective method of adoption; using this approach, the guidance was applied to transactions outstanding as of the beginning of the fiscal year. 2 For the three and nine months ended September 30, 2021, basic earnings per share is calculated by dividing Net income attributable to Cliffs shareholders , less $42 million and $172 million, respectively, of earnings attributed to Series B Participating Redeemable Preferred Stock, by the weighted average number of basic common shares outstanding during the period presented.

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	9 Months Ended
	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Schedule of Environmental Obligations	The following is a summary of our environmental obligations: (In Millions) September 30, December 31, Environmental obligations $ 143 $ 207 Less: current portion 18 20 Long-term environmental obligations $ 125 $ 187

Subsequent Events (Tables)

Subsequent Events (Tables)	9 Months Ended
	Sep. 30, 2022
Subsequent Events [Abstract]
Schedule of Subsequent Events	The following table sets forth amounts recognized in the Statements of Financial Position related to pension and OPEB: • on an actual basis as of September 30, 2022 reflecting our consolidated pension and OPEB; and • on a pro forma basis as of September 30, 2022 to give effect to the remeasurement of pension and OPEB plans affected by the October 12, 2022 ratification. The pro forma column is presented with pro forma data pursuant to ASC 855-10-50-3. (In Millions) Pension Benefits OPEB Actual Pro forma Actual Pro forma September 30, September 30, September 30, September 30, Non-current assets $ 227 $ 227 $ 163 $ 163 Current liabilities (4) (4) (130) (94) Non-current liabilities (464) (558) (2,287) (801) Funded Status $ (241) $ (335) $ (2,254) $ (732)

BASIS OF PRESENTATION AND SIG_3

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details) $ in Millions	9 Months Ended
	Sep. 30, 2022 USD ($) segment	Dec. 31, 2021 USD ($)
Schedule of Equity Method Investments [Line Items]
Number of operating segments	4
Number of reportable segments	1
Other non-current assets
Schedule of Equity Method Investments [Line Items]
Investment in affiliates | $	$ 134	$ 128

SUPPLEMENTARY FINANCIAL STATE_3

SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION - Allowance for Credit Losses (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Allowance for credit losses as of beginning of period	$ (4)	$ (5)
Increase in allowance	(1)	0
Allowance for credit losses as of end of period	$ (5)	$ (5)

SUPPLEMENTARY FINANCIAL STATE_4

SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION - Inventories (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Finished and semi-finished goods	$ 3,084	$ 2,814
Raw materials	2,111	2,070
Total product inventories	5,195	4,884
Manufacturing supplies and critical spares	347	304
Inventories	$ 5,542	$ 5,188

SUPPLEMENTARY FINANCIAL STATE_5

SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION - Cash Flow Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Capital additions	$ 247	$ 243	$ 736	$ 572
Non-cash accruals			(10)	64
Right-of-use assets - finance leases			30	35
Cash paid for capital expenditures including deposits			716	473
Taxes paid on income			306	38
Income tax refunds			(3)	(15)
Interest paid on debt obligations net of capitalized interest			201	231
Capitalized interest			$ 7	$ 4

ACQUISITIONS - Overview (Detail

ACQUISITIONS - Overview (Details) - Ferrous Processing and Trading - USD ($) $ in Millions		9 Months Ended
	Nov. 18, 2021	Sep. 30, 2022
Business Acquisition [Line Items]
Acquisition-related costs		$ 1
Cash consideration pursuant to the FPT Acquisition Agreement	$ 778
Cash consideration paid related to Internal Revenue Code Section 338(h)(10)	23
Total cash consideration	801
Fair value of settlement of a pre-existing relationship	(20)
Total purchase consideration	$ 781

ACQUISITIONS - Purchase Price A

ACQUISITIONS - Purchase Price Allocation (Details) - USD ($) $ in Millions	10 Months Ended
	Sep. 30, 2022	Dec. 31, 2021	Nov. 18, 2021
Acquired Finite-Lived Intangible Assets [Line Items]
Goodwill	$ 1,141	$ 1,116
Ferrous Processing and Trading
Acquired Finite-Lived Intangible Assets [Line Items]
Cash and cash equivalents	9		$ 9
Accounts receivable, net	235		233
Inventories	136		137
Other current assets	4		4
Property, plant and equipment	191		179
Other non-current assets	63		74
Accounts payable	(122)		(122)
Accrued employment costs	(8)		(8)
Other current liabilities	(9)		(9)
Other non-current liabilities	(22)		(21)
Net identifiable assets acquired	477		476
Goodwill	304		279
Total net assets acquired	781		$ 755
Measurement Period Adjustments, Cash and cash equivalents	0
Measurement Period Adjustments, Accounts receivable, net	2
Measurement Period Adjustments, Inventories	(1)
Measurement Period Adjustments, Other current assets	0
Measurement Period Adjustments, Property, plant, and equipment	12
Measurement Period Adjustments, Other non-current assets	(11)
Measurement Period Adjustments, Accounts payable	0
Measurement Period Adjustments, Accrued employment costs	0
Measurement Period Adjustments, Other current liabilities	0
Measurement Period Adjustments, Other non-current liabilities	(1)
Measurement Period Adjustments, Net identifiable assets acquired	1
Measurement Period Adjustments, Goodwill	25
Measurement Period Adjustments, Total net assets acquired	$ 26

ACQUISITIONS - Intangible Asset

ACQUISITIONS - Intangible Assets (Details) - Ferrous Processing and Trading $ in Millions	Nov. 18, 2021 USD ($)
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-lived Intangible Assets Acquired	$ 41
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	17 years
Customer relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-lived Intangible Assets Acquired	$ 13
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	15 years
Supplier relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-lived Intangible Assets Acquired	$ 21
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	18 years
Trade names and trademarks
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-lived Intangible Assets Acquired	$ 7
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	15 years

REVENUES - Revenues By Market (

REVENUES - Revenues By Market (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Disaggregation of Revenue [Line Items]
Revenues	$ 5,653	$ 6,004	$ 17,945	$ 15,098
Steelmaking
Disaggregation of Revenue [Line Items]
Revenues	5,511	5,869	17,481	14,710
Other Businesses
Disaggregation of Revenue [Line Items]
Revenues	142	135	464	388
Automotive | Steelmaking
Disaggregation of Revenue [Line Items]
Revenues	1,734	1,149	4,985	3,577
Automotive | Other Businesses
Disaggregation of Revenue [Line Items]
Revenues	113	105	359	306
Infrastructure and manufacturing | Steelmaking
Disaggregation of Revenue [Line Items]
Revenues	1,462	1,603	4,619	3,889
Infrastructure and manufacturing | Other Businesses
Disaggregation of Revenue [Line Items]
Revenues	14	12	43	33
Distributors and converters | Steelmaking
Disaggregation of Revenue [Line Items]
Revenues	1,468	2,447	5,137	5,672
Distributors and converters | Other Businesses
Disaggregation of Revenue [Line Items]
Revenues	15	18	62	49
Steel producers | Steelmaking
Disaggregation of Revenue [Line Items]
Revenues	$ 847	$ 670	$ 2,740	$ 1,572

REVENUES - Revenues By Product

REVENUES - Revenues By Product Line (Details) T in Thousands, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022 USD ($) T	Sep. 30, 2021 USD ($) T	Sep. 30, 2022 USD ($) T	Sep. 30, 2021 USD ($) T
Disaggregation of Revenue [Line Items]
Revenues	$ 5,653	$ 6,004	$ 17,945	$ 15,098
Steelmaking
Disaggregation of Revenue [Line Items]
Revenues	5,511	5,869	17,481	14,710
Other Businesses
Disaggregation of Revenue [Line Items]
Revenues	142	135	464	388
Hot-rolled steel | Steelmaking
Disaggregation of Revenue [Line Items]
Revenues	$ 1,050	$ 1,800	$ 3,495	$ 4,204
Sales Volume (Net Tons) | T	1,055	1,332	2,996	3,900
Cold-rolled steel | Steelmaking
Disaggregation of Revenue [Line Items]
Revenues	$ 740	$ 935	$ 2,593	$ 2,352
Sales Volume (Net Tons) | T	530	728	1,771	2,196
Coated steel | Steelmaking
Disaggregation of Revenue [Line Items]
Revenues	$ 1,757	$ 1,635	$ 5,338	$ 4,338
Sales Volume (Net Tons) | T	1,203	1,291	3,636	3,907
Stainless and electrical steel | Steelmaking
Disaggregation of Revenue [Line Items]
Revenues	$ 596	$ 441	$ 1,765	$ 1,201
Sales Volume (Net Tons) | T	196	177	579	512
Plate | Steelmaking
Disaggregation of Revenue [Line Items]
Revenues	$ 432	$ 357	$ 1,306	$ 929
Sales Volume (Net Tons) | T	228	244	687	792
Other steel products | Steelmaking
Disaggregation of Revenue [Line Items]
Revenues	$ 370	$ 374	$ 1,121	$ 1,009
Sales Volume (Net Tons) | T	423	381	1,244	1,195
Other | Steelmaking
Disaggregation of Revenue [Line Items]
Revenues	$ 566	$ 327	$ 1,863	$ 677
Other | Other Businesses
Disaggregation of Revenue [Line Items]
Revenues	$ 142	$ 135	$ 464	$ 388

SEGMENT REPORTING - Results by

SEGMENT REPORTING - Results by Segment (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($) segment	Sep. 30, 2021 USD ($)
Segment Reporting Information [Line Items]
Number of operating segments | segment			4
Number of reportable segments | segment			1
Revenues	$ 5,653	$ 6,004	$ 17,945	$ 15,098
Adjusted EBITDA	452	1,933	3,033	3,806
Eliminations
Segment Reporting Information [Line Items]
Adjusted EBITDA	7	(7)	8	(15)
Steelmaking
Segment Reporting Information [Line Items]
Revenues	5,511	5,869	17,481	14,710
Adjusted EBITDA	436	1,934	2,967	3,796
Other Businesses
Segment Reporting Information [Line Items]
Revenues	142	135	464	388
Adjusted EBITDA	$ 9	$ 6	$ 58	$ 25

SEGMENT REPORTING - Net Income

SEGMENT REPORTING - Net Income (Loss) to Total Adjusted EBITDA (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Segment Reporting Information [Line Items]
Net income	$ 165	$ 1,282	$ 1,580	$ 2,134
Interest expense, net	(64)	(81)	(205)	(258)
Income tax expense	(10)	(334)	(404)	(559)
Depreciation, depletion and amortization	(237)	(239)	(788)	(664)
EBITDA	476	1,936	2,977	3,615
Impairment of long-lived assets			(29)	(1)
Gain (loss) on extinguishment of debt	4	0	(76)	(88)
Amortization of inventory step-up			0	(129)
Impact of discontinued operations	0	1	2	2
Adjusted EBITDA	452	1,933	3,033	3,806
Net income attributable to noncontrolling interests	13	8	31	39
EBITDA Calculation
Segment Reporting Information [Line Items]
Interest expense, net	(64)	(81)	(205)	(258)
Income tax expense	(10)	(334)	(404)	(559)
Depreciation, depletion and amortization	(237)	(239)	(788)	(664)
Adjusted EBITDA Calculation
Segment Reporting Information [Line Items]
EBITDA of noncontrolling interests	22	17	57	60
Impairment of long-lived assets	0	0	(29)	0
Gain (loss) on extinguishment of debt	4	0	(76)	(88)
Severance costs	(2)	(3)	(9)	(15)
Acquisition-related costs excluding severance costs	0	(1)	(1)	(3)
Acquisition-related loss on equity method investment	0	0	0	(18)
Amortization of inventory step-up	0	(11)	0	(129)
Impact of discontinued operations	0	1	2	2
Net income attributable to noncontrolling interests	13	8	31	39
Depreciation, depletion and amortization attributable to noncontrolling interests	$ 9	$ 9	$ 26	$ 21

SEGMENT REPORTING - Segment Ass

SEGMENT REPORTING - Segment Assets (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Total assets	$ 19,688	$ 18,975
Corporate/Eliminations
Segment Reporting Information [Line Items]
Total assets	532	343
Operating Segments
Segment Reporting Information [Line Items]
Total assets	19,156	18,632
Operating Segments | Steelmaking
Segment Reporting Information [Line Items]
Total assets	18,843	18,326
Operating Segments | Other Businesses
Segment Reporting Information [Line Items]
Total assets	$ 313	$ 306

SEGMENT REPORTING - Segment Cap

SEGMENT REPORTING - Segment Capital Additions (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Segment Reporting Information [Line Items]
Depreciation, depletion and amortization	$ (237)	$ (239)	$ (788)	$ (664)
Capital additions	247	243	736	572
EBITDA Calculation
Segment Reporting Information [Line Items]
Depreciation, depletion and amortization	(237)	(239)	(788)	(664)
Corporate/Eliminations
Segment Reporting Information [Line Items]
Capital additions	1	0	3	18
Steelmaking
Segment Reporting Information [Line Items]
Depreciation, depletion and amortization	(227)	(230)	(758)	(637)
Capital additions	240	233	712	512
Other Businesses
Segment Reporting Information [Line Items]
Depreciation, depletion and amortization	(10)	(9)	(30)	(27)
Capital additions	$ 6	$ 10	$ 21	$ 42

PROPERTY, PLANT AND EQUIPMENT_2

PROPERTY, PLANT AND EQUIPMENT (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	$ 12,118		$ 12,118		$ 11,526
Allowance for depreciation and depletion	(3,088)		(3,088)		(2,340)
Property, plant and equipment, net	9,030		9,030		9,186
Finance lease, right-of-use asset	389		389		411
Depreciation and depletion expense	235	$ 238	782	$ 661
Middletown
Property, Plant and Equipment [Line Items]
Accelerated depreciation			23
Indiana Harbor
Property, Plant and Equipment [Line Items]
Accelerated depreciation			68
Land, land improvements and mineral rights
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	1,396		1,396		1,291
Buildings
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	914		914		889
Equipment
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	9,042		9,042		8,709
Other
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	232		232		229
Construction in progress
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	$ 534		$ 534		$ 408

GOODWILL AND INTANGIBLE ASSET_3

GOODWILL AND INTANGIBLE ASSETS AND LIABILITIES - Goodwill (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Goodwill [Line Items]
Goodwill	$ 1,141	$ 1,116
Steelmaking
Goodwill [Line Items]
Goodwill	967	942
Goodwill, period increase (decrease)	25
Other Businesses
Goodwill [Line Items]
Goodwill	$ 174	$ 174

GOODWILL AND INTANGIBLE ASSET_4

GOODWILL AND INTANGIBLE ASSETS AND LIABILITIES - Intangible Assets and Liabilities (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	$ 261	$ 263
Finite-Lived Intangible Assets, Accumulated Amortization	(52)	(42)
Finite-Lived Intangible Assets, Net, Total	209	221
Above-market supply contracts, Gross Amount	(71)	(71)
Above-market supply contracts, Accumulated Amortization	18	14
Above-market supply contracts, Net	(53)	(57)
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	90	95
Finite-Lived Intangible Assets, Accumulated Amortization	(12)	(8)
Finite-Lived Intangible Assets, Net, Total	78	87
Developed technology
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	60	60
Finite-Lived Intangible Assets, Accumulated Amortization	(9)	(6)
Finite-Lived Intangible Assets, Net, Total	51	54
Trade names and trademarks
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	18	18
Finite-Lived Intangible Assets, Accumulated Amortization	(4)	(2)
Finite-Lived Intangible Assets, Net, Total	14	16
Mining permits
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	72	72
Finite-Lived Intangible Assets, Accumulated Amortization	(26)	(26)
Finite-Lived Intangible Assets, Net, Total	46	46
Supplier relationships
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	21	18
Finite-Lived Intangible Assets, Accumulated Amortization	(1)	0
Finite-Lived Intangible Assets, Net, Total	$ 20	$ 18

GOODWILL AND INTANGIBLE ASSET_5

GOODWILL AND INTANGIBLE ASSETS AND LIABILITIES - Amortization of Intangible Assets (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of Intangible Assets	$ 3	$ 3	$ 10	$ 8
Remainder of 2022	3		3
2023	13		13
2024	13		13
2025	13		13
2026	13		13
2027	$ 13		$ 13

GOODWILL AND INTANGIBLE ASSET_6

GOODWILL AND INTANGIBLE ASSETS AND LIABILITIES - Amortization of Intangible Liability (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of Intangible Liabilities	$ (1)	$ (2)	$ (4)	$ (5)
Remainder of 2022	(1)		(1)
2023	(5)		(5)
2024	(5)		(5)
2025	(5)		(5)
2026	(5)		(5)
2027	$ (5)		$ (5)

DEBT AND CREDIT FACILITIES - Sc

DEBT AND CREDIT FACILITIES - Schedule Of Long-Term Debt (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 4,535	$ 5,369
Unamortized discounts and issuance costs	(60)	(131)
Long-term Debt	4,475	5,238
ABL Facility
Debt Instrument [Line Items]
Long-term Line of Credit	$ 2,090
Cleveland-Cliffs Inc. | 9.875% 2025 Senior Secured Notes
Debt Instrument [Line Items]
Stated interest rate	9.875%
Debt Instrument, Interest Rate, Effective Percentage	10.57%
Long-term Debt, Gross	$ 0	607
Cleveland-Cliffs Inc. | 6.750% 2026 Senior Secured Notes
Debt Instrument [Line Items]
Stated interest rate	6.75%
Debt Instrument, Interest Rate, Effective Percentage	6.99%
Long-term Debt, Gross	$ 829	845
Cleveland-Cliffs Inc. | 1.500% 2025 Convertible Senior Notes
Debt Instrument [Line Items]
Stated interest rate	1.50%
Debt Instrument, Interest Rate, Effective Percentage	6.26%
Long-term Debt, Gross	$ 0	294
Cleveland-Cliffs Inc. | 7.000% 2027 Senior Notes
Debt Instrument [Line Items]
Stated interest rate	7%
Debt Instrument, Interest Rate, Effective Percentage	9.24%
Long-term Debt, Gross	$ 73	73
Cleveland-Cliffs Inc. | 5.875% 2027 Senior Notes
Debt Instrument [Line Items]
Stated interest rate	5.875%
Debt Instrument, Interest Rate, Effective Percentage	6.49%
Long-term Debt, Gross	$ 556	556
Cleveland-Cliffs Inc. | 4.625% 2029 Senior Notes
Debt Instrument [Line Items]
Stated interest rate	4.625%
Debt Instrument, Interest Rate, Effective Percentage	4.63%
Long-term Debt, Gross	$ 370	500
Cleveland-Cliffs Inc. | 4.875% 2031 Senior Notes
Debt Instrument [Line Items]
Stated interest rate	4.875%
Debt Instrument, Interest Rate, Effective Percentage	4.88%
Long-term Debt, Gross	$ 326	500
Cleveland-Cliffs Inc. | 6.250% 2040 Senior Notes
Debt Instrument [Line Items]
Stated interest rate	6.25%
Debt Instrument, Interest Rate, Effective Percentage	6.34%
Long-term Debt, Gross	$ 235	$ 263
Cleveland-Cliffs Inc. | ABL Facility
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Effective Percentage	4.23%	1.87%
Long-term Line of Credit	$ 2,090	$ 1,609
AK Steel | 7.000% 2027 AK Senior Notes
Debt Instrument [Line Items]
Stated interest rate	7%
Debt Instrument, Interest Rate, Effective Percentage	9.24%
Long-term Debt, Gross	$ 56	56
AK Steel | Industrial Revenue Bonds
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 0	$ 66

DEBT AND CREDIT FACILITIES - _2

DEBT AND CREDIT FACILITIES - Schedule of Extinguishment of Debt (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
	Mar. 11, 2021	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Extinguishment of Debt [Line Items]
Debt Extinguished		$ 41		$ 1,315
Gain (Loss) on Extinguishment		4	$ 0	(76)	$ (88)
9.875% 2025 Senior Secured Notes
Extinguishment of Debt [Line Items]
Debt Extinguished	$ 322	0		607
Gain (Loss) on Extinguishment		$ 0		$ (85)
9.875% 2025 Senior Secured Notes | Cleveland-Cliffs Inc.
Extinguishment of Debt [Line Items]
Stated interest rate		9.875%		9.875%
6.750% 2026 Senior Secured Notes
Extinguishment of Debt [Line Items]
Debt Extinguished		$ 0		$ 16
Gain (Loss) on Extinguishment		$ 0		$ (1)
6.750% 2026 Senior Secured Notes | Cleveland-Cliffs Inc.
Extinguishment of Debt [Line Items]
Stated interest rate		6.75%		6.75%
1.500% 2025 Convertible Senior Notes
Extinguishment of Debt [Line Items]
Debt Extinguished		$ 0		$ 294
Gain (Loss) on Extinguishment		$ 0		$ (16)
1.500% 2025 Convertible Senior Notes | Cleveland-Cliffs Inc.
Extinguishment of Debt [Line Items]
Stated interest rate		1.50%		1.50%
4.625% 2029 Senior Notes
Extinguishment of Debt [Line Items]
Debt Extinguished		$ 0		$ 130
Gain (Loss) on Extinguishment		$ 0		$ 8
4.625% 2029 Senior Notes | Cleveland-Cliffs Inc.
Extinguishment of Debt [Line Items]
Stated interest rate		4.625%		4.625%
4.875% 2031 Senior Notes
Extinguishment of Debt [Line Items]
Debt Extinguished		$ 13		$ 174
Gain (Loss) on Extinguishment		$ 1		$ 13
4.875% 2031 Senior Notes | Cleveland-Cliffs Inc.
Extinguishment of Debt [Line Items]
Stated interest rate		4.875%		4.875%
6.250% 2040 Senior Notes
Extinguishment of Debt [Line Items]
Debt Extinguished		$ 28		$ 28
Gain (Loss) on Extinguishment		$ 3		$ 3
6.250% 2040 Senior Notes | Cleveland-Cliffs Inc.
Extinguishment of Debt [Line Items]
Stated interest rate		6.25%		6.25%
Industrial Revenue Bonds
Extinguishment of Debt [Line Items]
Debt Extinguished		$ 0		$ 66
Gain (Loss) on Extinguishment		$ 0		$ 2

DEBT AND CREDIT FACILITIES - AB

DEBT AND CREDIT FACILITIES - ABL Facility (Details) $ in Millions	9 Months Ended
	Sep. 30, 2022 USD ($)
ABL Facility
Line of Credit Facility [Line Items]
Covenant compliance	As of September 30, 2022, we were in compliance with the ABL Facility liquidity requirements and, therefore, the springing financial covenant requiring a minimum fixed charge coverage ratio of 1.0 to 1.0 was not applicable.
Available borrowing base on ABL Facility	$ 4,500
Long-term Line of Credit	(2,090)
Borrowing capacity available	2,244
Maximum borrowing capacity	4,500
Letter of Credit
Line of Credit Facility [Line Items]
Long-term Line of Credit	$ (166)

DEBT AND CREDIT FACILITIES - _3

DEBT AND CREDIT FACILITIES - Schedule of Debt Maturities (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Debt Disclosure [Abstract]
2022 (remaining period of year)	$ 0
2023	0
2024	0
2025	2,090
2026	829
Thereafter	1,616
Total maturities of debt	$ 4,535	$ 5,369

FAIR VALUE MEASUREMENTS - Carry

FAIR VALUE MEASUREMENTS - Carrying Value And Fair Value Of Financial Instruments Disclosure (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total	$ 4,475	$ 5,238
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total	4,309	5,586
Senior notes | Carrying Value | Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total	2,385	3,561
Senior notes | Fair Value | Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total	2,219	3,911
Industrial Revenue Bonds | Carrying Value | Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total	0	68
Industrial Revenue Bonds | Fair Value | Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total	0	66
Line of Credit | Carrying Value | Level 2 | ABL Facility
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total	2,090	1,609
Line of Credit | Fair Value | Level 2 | ABL Facility
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total	$ 2,090	$ 1,609

PENSIONS AND OTHER POSTRETIRE_3

PENSIONS AND OTHER POSTRETIREMENT BENEFITS - Pension and Other Postretirement Benefits (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
	Jan. 04, 2021	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Pension Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost		$ 11	$ 14	$ 35	$ 42
Interest cost		32	26	95	78
Expected return on plan assets		(93)	(89)	(277)	(269)
Prior service costs (credits)		1	1	1	1
Net actuarial loss (gain)		4	8	11	24
Net periodic benefit costs (credits)		(45)	(40)	(135)	(124)
Defined benefit pension contributions	$ 118	1	1	1	154
Other Postretirement Benefit Plans, Defined Benefit
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost		11	13	32	38
Interest cost		19	19	59	56
Expected return on plan assets		(10)	(10)	(29)	(30)
Prior service costs (credits)		1	(2)	1	(2)
Net actuarial loss (gain)		(3)	1	(9)	3
Net periodic benefit costs (credits)		18	21	54	65
OPEB contributions		$ 24	$ 22	$ 80	$ 27

PENSIONS AND OTHER POSTRETIRE_4

PENSIONS AND OTHER POSTRETIREMENT BENEFITS- USW Labor Agreement (Details)		3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2022 USD ($) employee	Sep. 30, 2022 USD ($) employee	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($) employee	Sep. 30, 2021 USD ($)	Dec. 31, 2022 USD ($)	Jan. 01, 2023 USD ($)	Dec. 31, 2021
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Term of labor agreement	47 months	47 months		47 months
Number of employees covered in labor agreement | employee	2,000	2,000		2,000
Service multiplier	$ 115	$ 115		$ 115
Forecast
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service multiplier							$ 126
Defined Benefit Plan, Increase (Decrease) in Net Periodic Benefit Cost (Credit)						$ 3,000,000
Net periodic benefit costs (credits)						$ (104,000,000)
Pension Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Increase (decrease) in funded status of plan due to remeasurement	38,000,000
Actuarial gains on pension benefit obligations	247,000,000
Plan amendment gains (losses)	(32,000,000)
Actual plan asset losses	$ (177,000,000)
Discount rate used to measure benefit obligations	5.64%	5.64%		5.64%				2.97%
Net periodic benefit costs (credits)		$ (45,000,000)	$ (40,000,000)	$ (135,000,000)	$ (124,000,000)
Other Postretirement Benefit Plans, Defined Benefit
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Increase (decrease) in funded status of plan due to remeasurement	$ 81,000,000
Actuarial gains on pension benefit obligations	76,000,000
Plan amendment gains (losses)	86,000,000
Actual plan asset losses	$ (81,000,000)
Discount rate used to measure benefit obligations	5.64%	5.64%		5.64%				2.91%
Net periodic benefit costs (credits)		$ 18,000,000	$ 21,000,000	$ 54,000,000	$ 65,000,000

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details)	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Effective tax rate before discrete items	20%	21%
Federal statutory income tax rate	21%

ASSET RETIREMENT OBLIGATIONS -

ASSET RETIREMENT OBLIGATIONS - Summary Of Asset Retirement Obligations (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021	Sep. 30, 2021	Dec. 31, 2020
Environmental Exit Cost [Line Items]
Asset retirement obligations	$ 522	$ 449	$ 392	$ 342
Less: current portion	17	35
Long-term asset retirement obligations	505	414
Operating Segments
Environmental Exit Cost [Line Items]
Asset retirement obligations	$ 279	$ 293

ASSET RETIREMENT OBLIGATIONS _2

ASSET RETIREMENT OBLIGATIONS - Asset Retirement Obligation Disclosure (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Asset Retirement Obligation [Roll Forward]
Asset retirement obligation at beginning of period	$ 449	$ 342
Increase from acquisitions	0	57
Accretion expense	21	13
Reclassification from environmental obligations	63	0
Revision in estimated cash flows	22	0
Remediation payments	(33)	(20)
Asset retirement obligation at end of period	$ 522	$ 392

DERIVATIVE INSTRUMENTS (Details

DERIVATIVE INSTRUMENTS (Details) - Commodity Contract	Sep. 30, 2022 MWh MMBtu metricTons	Dec. 31, 2021 metricTons MMBtu MWh
Natural Gas
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional Amount | MMBtu	138,380,000	92,591,000
Zinc
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional Amount	4,023	16,092
Electricity
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional Amount | MWh	432,043	0
Tin
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional Amount	225	0

DERIVATIVE INSTRUMENTS - Balanc

DERIVATIVE INSTRUMENTS - Balance Sheet Location (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Other current assets
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Asset, Fair Value, Gross Asset	$ 86	$ 40
Other non-current assets
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Asset, Fair Value, Gross Asset	54	0
Other current liabilities
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Liability, Fair Value, Gross Liability	(24)	(10)
Other non-current liabilities
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Liability, Fair Value, Gross Liability	$ (8)	$ (4)

CAPITAL STOCK - Narrative (Deta

CAPITAL STOCK - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions			3 Months Ended			9 Months Ended
	Mar. 11, 2021	Dec. 09, 2020	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2022	Feb. 10, 2022	Dec. 31, 2021	Feb. 11, 2021
Class of Stock [Line Items]
Authorized amount of stock repurchase							$ 1,000
Common stock repurchases			$ 34	$ 157	$ 19
Common shares, issued (in shares)			531,051,530			531,051,530		506,832,537	20,000,000
Debt Extinguished			$ 41			$ 1,315
Common Stock
Class of Stock [Line Items]
Common stock repurchases (shares)			2,000,000	8,000,000	1,000,000	10,500,000
Common Shares in Treasury
Class of Stock [Line Items]
Common stock repurchases			$ 34	$ 157	$ 19	$ 210
9.875% 2025 Senior Secured Notes
Class of Stock [Line Items]
Debt Extinguished	$ 322		$ 0			$ 607
Arcelor Mittal
Class of Stock [Line Items]
Common shares sold (in shares)									40,000,000
Cleveland-Cliffs Inc. | 9.875% 2025 Senior Secured Notes
Class of Stock [Line Items]
Stated interest rate			9.875%			9.875%
Common Stock
Class of Stock [Line Items]
Share price (in dollars per share)									$ 16.12
Common Stock | ArcelorMittal USA
Class of Stock [Line Items]
Stock issued during period, shares, acquisitions (in shares)		78,000,000
Series A Preferred Stock
Class of Stock [Line Items]
Preferred stock authorized (in shares)			3,000,000			3,000,000
Preferred stock outstanding (in shares)			0			0
Preferred stock issued (in shares)			0			0
Series B Preferred Stock
Class of Stock [Line Items]
Preferred stock authorized (in shares)			4,000,000			4,000,000
Preferred stock outstanding (in shares)			0			0
Preferred stock issued (in shares)			0			0

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) - Changes in AOCI (loss) related to shareholders' equity (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance			$ 618
Ending balance	$ 810	$ 23	810	$ 23
Foreign Currency Translation
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(1)	2	1	3
Other comprehensive income before reclassifications, net of tax	(2)	0	(4)	(1)
Ending balance	(3)	2	(3)	2
Derivative Instruments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	109	53	68	(1)
Other comprehensive income before reclassifications	154	118	292	192
Income tax	(38)	(25)	(69)	(40)
Other comprehensive income before reclassifications, net of tax	116	93	223	152
(Gains) losses reclassified from AOCI to net income	(74)	(13)	(158)	(19)
Income tax expense (benefit)	19	3	37	4
Net losses (gains) reclassified from AOCI to net income	(55)	(10)	(121)	(15)
Ending balance	170	136	170	136
Pension and OPEB
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	550	(121)	549	(135)
Other comprehensive income before reclassifications	119	0	119	0
Income tax	(28)	0	(28)	0
Other comprehensive income before reclassifications, net of tax	91	0	91	0
(Gains) losses reclassified from AOCI to net income	3	8	4	26
Income tax expense (benefit)	(1)	(2)	(1)	(6)
Net losses (gains) reclassified from AOCI to net income	2	6	3	20
Ending balance	$ 643	$ (115)	$ 643	$ (115)

VARIABLE INTEREST ENTITIES (Det

VARIABLE INTEREST ENTITIES (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Variable Interest Entity [Line Items]
Net income attributable to noncontrolling interests	$ 13	$ 8	$ 31	$ 39
Cash and cash equivalents	56		56		$ 48
Inventories	5,542		5,542		5,188
Property, plant and equipment, net	9,030		9,030		9,186
Accounts payable	(2,361)		(2,361)		(2,073)
Noncontrolling interests	(260)		(260)		(284)
SunCoke Middletown | Variable Interest Entity, Primary Beneficiary
Variable Interest Entity [Line Items]
Net income attributable to noncontrolling interests	14	$ 11	36	$ 43
Cash and cash equivalents	0		0		0
Inventories	34		34		20
Property, plant and equipment, net	292		292		300
Accounts payable	(24)		(24)		(12)
Other assets (liabilities), net	(22)		(22)		(12)
Noncontrolling interests	$ (280)		$ (280)		$ (296)

EARNINGS PER SHARE - Earnings P

EARNINGS PER SHARE - Earnings Per Share Computation (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Earnings Per Share [Abstract]
Income from continuing operations	$ 165	$ 1,281	$ 1,578	$ 2,132
Income attributable to noncontrolling interest	(13)	(8)	(31)	(39)
Net income from continuing operations attributable to Cliffs shareholders	152	1,273	1,547	2,093
Income from discontinued operations, net of tax	0	1	2	2
Net income attributable to Cliffs shareholders	$ 152	$ 1,274	$ 1,549	$ 2,095
Weighted average number of shares:
Basic (in shares)	516	500	520	497
Redeemable preferred shares (in shares)	0	17	0	44
Convertible senior notes (in shares)	0	24	2	21
Employee stock plans (in shares)	3	6	4	5
Diluted (in shares)	519	547	526	567
Earnings per common share attributable to Cliffs shareholders - basic:
Continuing operations (in dollars per share)	$ 0.30	$ 2.46	$ 2.98	$ 3.87
Discontinued operations (in dollars per share)	0	0	0	0
Earnings per Common Share - Basic (in dollars per share)	0.30	2.46	2.98	3.87
Earnings per common share attributable to Cliffs shareholders - diluted:
Continuing operations (in dollars per share)	0.29	2.33	2.95	3.69
Discontinued operations (in dollars per share)	0	0	0	0
Earnings per Common Share - Diluted (in dollars per share)	$ 0.29	$ 2.33	$ 2.95	$ 3.69
Earnings attributed to Series B Participating Redeemable Preferred Stock		$ 42		$ 172

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Contingencies (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Environmental obligations	$ 143	$ 207
Less: current portion	18	20
Long-term environmental obligations	$ 125	$ 187

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES - Narrative (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Reclassification from environmental obligations	$ 63	$ 0
Estimate of civil penalty	$ 3

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details)			3 Months Ended		9 Months Ended		12 Months Ended
	Oct. 12, 2022 USD ($) employee location	Sep. 30, 2022 USD ($) employee	Sep. 30, 2022 USD ($) employee	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($) employee	Sep. 30, 2021 USD ($)	Dec. 31, 2022 USD ($)	Jan. 01, 2023 USD ($)	Dec. 31, 2021 USD ($)
Subsequent Event [Line Items]
Pension and OPEB, asset		$ 390,000,000	$ 390,000,000		$ 390,000,000				$ 224,000,000
Term of labor agreement		47 months	47 months		47 months
Number of employees covered in labor agreement | employee		2,000	2,000		2,000
Service multiplier		$ 115	$ 115		$ 115
Forecast
Subsequent Event [Line Items]
Service multiplier								$ 126
Net periodic benefit costs (credits)							$ (104,000,000)
Pension Plan
Subsequent Event [Line Items]
Pension and OPEB, asset		227,000,000	227,000,000		227,000,000
Current liabilities		(4,000,000)	(4,000,000)		(4,000,000)
Non-current liabilities		(464,000,000)	(464,000,000)		(464,000,000)
Funded Status		(241,000,000)	$ (241,000,000)		$ (241,000,000)
Increase (decrease) in funded status of plan due to remeasurement		38,000,000
Actuarial gains on pension benefit obligations		247,000,000
Plan amendment gains (losses)		(32,000,000)
Actual plan asset losses		$ (177,000,000)
Discount rate used to measure benefit obligations		5.64%	5.64%		5.64%				2.97%
Net periodic benefit costs (credits)			$ (45,000,000)	$ (40,000,000)	$ (135,000,000)	$ (124,000,000)
Pension Plan | Pension Plan, October 2022 Remeasurement
Subsequent Event [Line Items]
Discount rate used to measure benefit obligations									2.74%
Service multiplier		$ 115	115		115
Pension Plan | Pro Forma
Subsequent Event [Line Items]
Pension and OPEB, asset		227,000,000	227,000,000		227,000,000
Current liabilities		(4,000,000)	(4,000,000)		(4,000,000)
Non-current liabilities		(558,000,000)	(558,000,000)		(558,000,000)
Funded Status		(335,000,000)	(335,000,000)		(335,000,000)
Pension Plan | Forecast | Pension Plan, October 2022 Remeasurement
Subsequent Event [Line Items]
Service multiplier								$ 126
Other Postretirement Benefit Plans, Defined Benefit
Subsequent Event [Line Items]
Pension and OPEB, asset		163,000,000	163,000,000		163,000,000
Current liabilities		(130,000,000)	(130,000,000)		(130,000,000)
Non-current liabilities		(2,287,000,000)	(2,287,000,000)		(2,287,000,000)
Funded Status		(2,254,000,000)	$ (2,254,000,000)		$ (2,254,000,000)
Increase (decrease) in funded status of plan due to remeasurement		81,000,000
Actuarial gains on pension benefit obligations		76,000,000
Plan amendment gains (losses)		86,000,000
Actual plan asset losses		$ (81,000,000)
Discount rate used to measure benefit obligations		5.64%	5.64%		5.64%				2.91%
Net periodic benefit costs (credits)			$ 18,000,000	$ 21,000,000	$ 54,000,000	$ 65,000,000
Other Postretirement Benefit Plans, Defined Benefit | Other Postretirement Benefits Plan, October 2022 Remeasurement
Subsequent Event [Line Items]
Discount rate used to measure benefit obligations									3.12%
Other Postretirement Benefit Plans, Defined Benefit | Pro Forma
Subsequent Event [Line Items]
Pension and OPEB, asset		$ 163,000,000	163,000,000		163,000,000
Current liabilities		(94,000,000)	(94,000,000)		(94,000,000)
Non-current liabilities		(801,000,000)	(801,000,000)		(801,000,000)
Funded Status		$ (732,000,000)	$ (732,000,000)		$ (732,000,000)
Subsequent Event
Subsequent Event [Line Items]
Term of labor agreement	4 years
Number of employees covered in labor agreement | employee	12,000
Labor agreement, number of locations | location	13
Net periodic benefit costs (credits)							$ (125,000,000)
Subsequent Event | Pension Plan | Pension Plan, October 2022 Remeasurement
Subsequent Event [Line Items]
Increase (decrease) in funded status of plan due to remeasurement	$ (94,000,000)
Actuarial gains on pension benefit obligations	648,000,000
Plan amendment gains (losses)	(90,000,000)
Actual plan asset losses	$ (652,000,000)
Discount rate used to measure benefit obligations	5.61%
Subsequent Event | Other Postretirement Benefit Plans, Defined Benefit | Other Postretirement Benefits Plan, October 2022 Remeasurement
Subsequent Event [Line Items]
Increase (decrease) in funded status of plan due to remeasurement	$ 1,522,000,000
Actuarial gains on pension benefit obligations	1,460,000,000
Plan amendment gains (losses)	$ 62,000,000
Discount rate used to measure benefit obligations	5.63%