Cleveland-Cliffs Inc. (CLF) financial statements (2020 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)

12/31/2019
Q4
9/30/2019
Q3
6/30/2019
Q2
3/31/2019
Q1
12/31/2018
Q4
9/30/2018
Q3
6/30/2018
Q2
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments353399377430823897803
Cash and cash equivalents353399377430823897803
Receivables153224252137344252153
Inventory, net of allowances, customer advances and progress billings317 21931388188256
Inventory317 21931388188256
Prepaid expense 11111197938889
Derivative instruments and hedges, assets467311810792191175
Disposal group, including discontinued operation    121645
Other current assets30414241271927
Other undisclosed current assets 217     
Total current assets:8981,0651,1191,1261,4801,6511,547
Noncurrent Assets
Nontrade receivables636363121121  
Property, plant and equipment1,9291,7701,5971,4101,2861,1451,081
Deferred income tax assets460438  
Other noncurrent assets15511511811495121118
Other undisclosed noncurrent assets 42496535548208306
Total noncurrent assets:2,6062,4272,2742,1802,0501,4741,505
TOTAL ASSETS:3,5043,4913,3933,3063,5303,1253,052
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities357304278237335262247
Accounts payable193213188172187141119
Accrued liabilities126    9585
Employee-related liabilities 57584274  
Taxes payable38   36  
Interest and dividends payable 343123382643
Debt  4444444344
Derivative instruments and hedges, liabilities 33     
Disposal group, including discontinued operation    714117
Other liabilities52122116113836166
Total current liabilities:409459437394468381475
Noncurrent Liabilities
Long-term debt and lease obligation2,1142,1092,1052,0872,0932,3002,297
Long-term debt, excluding current maturities2,1142,1092,1052,0872,0932,3002,297
Liabilities, other than long-term debt623564566564544531586
Asset retirement obligations165179177174172174172
Liability, pension and other postretirement and postemployment benefits312233239244249225245
Disposal group, including discontinued operation, liabilities    8910
Other liabilities146151150145115122158
Total noncurrent liabilities:2,7372,6732,6702,6512,6372,8312,883
Total liabilities:3,1463,1313,1083,0453,1053,2113,358
Stockholders' equity
Stockholders' equity attributable to parent, including:320360286262424(86)(306)
Treasury stock, value(391)(391)(391)(264)(186)(139)(148)
Additional paid in capital3,8723,8683,8643,8603,9173,9133,918
Accumulated other comprehensive loss(319)(266)(272)(276)(284)(243)(22)
Accumulated deficit(2,842)(2,889)(2,953)(3,097)(3,060)(3,655)(4,093)
Other undisclosed stockholders' equity attributable to parent 383838383838
Other undisclosed stockholders' equity38      
Total stockholders' equity:358360286262424(86)(306)
TOTAL LIABILITIES AND EQUITY:3,5043,4913,3933,3063,5303,1253,052

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

12/31/2019
Q4
9/30/2019
Q3
6/30/2019
Q2
3/31/2019
Q1
12/31/2018
Q4
9/30/2018
Q3
6/30/2018
Q2
Revenues534556743157696742714
Revenue, net714
Revenue from related parties  41641371392 
Cost of revenue
(Cost of Goods and Services Sold)
(407)(401)(480)(126)(494)(480)(430)
Gross profit:12715526331202262285
Operating expenses(45)(33)(36)(32)(39)(36)(30)
Operating income (loss):82122227(1)163226254
Nonoperating expense(24)(25)(43)(25)(29)(25)(27)
Other nonoperating income1010444
Interest and debt expense  (18)(0)218 0
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes  180(218) (0)
Income (loss) from continuing operations before income taxes:5897183(26)135200228
Income tax expense (benefit)6(5)(22)4490(1)2
Income (loss) from continuing operations:6392161(22)624200229
Income (loss) from discontinued operations    (15)238(64)
Other undisclosed loss before gain (loss) on sale of properties(2)      
Net income (loss):6292161(22)610438165
Other undisclosed net income (loss) attributable to parent2(1)(1)    
Net income (loss) available to common stockholders, diluted:6391161(22)610438165

Comprehensive Income ($ in millions)

12/31/2019
Q4
9/30/2019
Q3
6/30/2019
Q2
3/31/2019
Q1
12/31/2018
Q4
9/30/2018
Q3
6/30/2018
Q2
Net income (loss):6292161(22)610438165
Other comprehensive income (loss)(53)648(41)(221)9
Comprehensive income (loss):998165(14)569217174
Other undisclosed comprehensive income (loss), net of tax, attributable to parent2(1)(1)    
Comprehensive income (loss), net of tax, attributable to parent:1097165(14)569217174

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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