Cleveland-Cliffs Inc. (CLF) financial statements (2022 and earlier)

Company profile

Business Address 200 PUBLIC SQUARE
CLEVELAND, OH 44114-2315
State of Incorp. OH
Fiscal Year End December 31
SIC 10 - Metal Mining (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments481123538231,008323285
Cash and cash equivalents481123538231,008323285
Receivables2,1541,193153344141129155
Inventory, net of allowances, customer advances and progress billings5,1883,82831788183178330
Inventory5,1883,82831788183178330
Prepaid expense   939491110
Derivative instruments and hedges, assets  469239  
Disposal group, including discontinued operation   12  15
Other current assets2631653027285430
Other undisclosed current assets    524957
Total current assets:7,6535,2988981,4801,545825983
Noncurrent Assets
Nontrade receivables  63121   
Property, plant and equipment9,1868,7431,9291,2861,0519841,059
Intangible assets, net (including goodwill)1,1161,406     
Goodwill1,1161,406     
Deferred income tax assets 537460
Other noncurrent assets1,0207871559512311594
Other undisclosed noncurrent assets   548235  
Total noncurrent assets:11,32211,4732,6062,0501,4091,0991,153
TOTAL ASSETS:18,97516,7713,5043,5302,9531,9242,136
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities2,7962,182357335279273280
Accounts payable2,0731,575193187128108106
Accrued liabilities  126 344186
Employee-related liabilities585460 74565653
Taxes payable1381473836302835
Interest and dividends payable   383140 
Debt   4444  
Postemployment benefits liability 151     
Due to related parties    12 15
Disposal group, including discontinued operation   73 7
Other liabilities7655965283569187
Other undisclosed current liabilities    5726193
Total current liabilities:3,5612,929409468452391582
Noncurrent Liabilities
Long-term debt and lease obligation5,2385,3902,1142,0932,3042,1752,699
Long-term debt, excluding current maturities5,2385,3902,1142,0932,3042,1752,699
Liabilities, other than long-term debt4,4025,373623544641688666
Asset retirement obligations  165172197194231
Liability, pension and other postretirement and postemployment benefits2,9614,113312249258281221
Disposal group, including discontinued operation, liabilities   8   
Other liabilities1,4411,260146115187214214
Total noncurrent liabilities:9,64010,7632,7372,6372,9452,8633,365
Total liabilities:13,20113,6923,1463,1053,3983,2543,947
Temporary equity, carrying amount 738     
Stockholders' equity
Stockholders' equity attributable to parent, including:5,4902,018320424(444)(1,464)(1,981)
Treasury stock, value(82)(354)(391)(186)(170)(246)(265)
Additional paid in capital4,8925,4313,8723,9173,9343,3472,299
Accumulated other comprehensive income (loss)618(133)(319)(284)(39)(21)(18)
Accumulated deficit(1)(2,989)(2,842)(3,060)(4,207)(4,574)(4,748)
Other undisclosed stockholders' equity attributable to parent6363 383830751
Stockholders' equity attributable to noncontrolling interest284323  0134170
Other undisclosed stockholders' equity  38    
Total stockholders' equity:5,7742,341358424(444)(1,331)(1,812)
TOTAL LIABILITIES AND EQUITY:18,97516,7713,5043,5302,9531,9242,136

Income statement (P&L) ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Revenues20,4445,3541,9902,3322,3302,1092,013
Revenue, net2,3302,1092,013
Revenue from related parties139893 1,235
Cost of revenue(15,990)(5,162)(1,414)(1,523)(1,829)(1,720)(1,777)
Cost of goods and services sold(15,910)(5,102)(1,414)(1,523)(1,829)(1,720)(1,777)
Gross profit:4,454192576810502389237
Operating expenses(442)(334)(146)(136)(78)(149)(85)
Other operating expense, net(80)(60)     
Other undisclosed operating income8060     
Operating income (loss):4,012(142)429673424241151
Nonoperating income (expense)(209)(51)(117)(109)(294)(34)162
Other nonoperating income (expense)65721730(3)
Interest and debt expense(9)(4)(18)2351,721305226
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes 418(235)(1,721)(305)(226)
Income (loss) from continuing operations before equity method investments, income taxes:3,794(193)312565129207313
Loss from equity method investments      (0)
Other undisclosed income from continuing operations before income taxes9      
Income (loss) from continuing operations before income taxes:3,803(193)312565129207313
Income tax expense (benefit)(773)111(18)47525212(169)
Income (loss) from continuing operations:3,030(82)2951,040382219144
Income (loss) from discontinued operations  (2)88(19)(20)(892)
Income (loss) before gain (loss) on sale of properties:3,030(82)2931,128363199(748)
Other undisclosed net income31     
Net income (loss):3,033(81)2931,128363199(748)
Net income (loss) attributable to noncontrolling interest(45)(41)  4(25)(1)
Net income (loss) attributable to parent:2,988(122)2931,128367174(749)
Preferred stock dividends and other adjustments(604)      
Undistributed earnings (loss) allocated to participating securities, basic(187)    
Other undisclosed net income (loss) available to common stockholders, basic791     (38)
Net income (loss) available to common stockholders, diluted:2,988(122)2931,128367174(788)

Comprehensive Income ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Net income (loss):3,033(81)2931,128363199(748)
Other comprehensive income (loss)751186(35)(245)(3)(4)223
Comprehensive income (loss):3,784105258883360196(525)
Comprehensive income (loss), net of tax, attributable to noncontrolling interest(45)(41)  3(25)5
Comprehensive income (loss), net of tax, attributable to parent:3,73964258883363171(521)

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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