"CLF will receive ~$300M of cumulative cash refunds from the IRS during the next six years due to elimination of the corporate AMT in the US tax code"
That's different from what the 8-K says:
Cliffs recognized a $246 million income tax benefit during the quarter. This was primarily attributable to a reversal of the valuation allowance on approximately $250 million of Alternate Minimum Tax (AMT) credit carryovers. With the passage of the Tax Cuts and Jobs Act of 2017 and corresponding repeal of the AMT, this amount will be refunded to Cliffs in cash over the next four tax years.
More money over a longer period of time - why the discrepancy? And does "recognized" mean it went to the bottom line in Q4, when in reality the money will come back of a period of years?
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