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
Q4
9/30/2021
Q3
6/30/2021
Q2
3/31/2021
Q1
12/31/2020
Q4
9/30/2020
Q3
6/30/2020
Q2
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments4842731101125674
Cash and cash equivalents4842731101125674
Receivables2,1542,3482,0621,6591,193663545
Inventory, net of allowances, customer advances and progress billings5,1884,5054,2803,9323,8281,7951,934
Inventory5,1884,5054,2803,9323,8281,7951,934
Other current assets26325115916016511590
Total current assets:7,6537,1466,5745,8615,2982,6292,642
Noncurrent Assets
Operating lease, right-of-use asset     208213
Nontrade receivables      4
Property, plant and equipment9,1868,9748,9829,0148,7434,5514,548
Intangible assets, net (including goodwill)1,1161,0721,0709941,406334332
Goodwill1,1161,0721,0709941,406144139
Intangible assets, net (excluding goodwill)     190193
Deferred income tax assets 70333562537520507
Other noncurrent assets1,020804787784787240245
Total noncurrent assets:11,32210,92011,17211,35411,4735,8525,848
TOTAL ASSETS:18,97518,06617,74617,21516,7718,4818,491
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities2,7962,4202,2152,2082,182990793
Accounts payable2,0731,8281,6651,7431,575711505
Accrued liabilities     279288
Employee-related liabilities585592550465460  
Taxes payable138   147  
Postemployment benefits liability 151151151151  
Other liabilities765708620574596224245
Total current liabilities:3,5613,2792,9862,9332,9291,2141,038
Noncurrent Liabilities
Long-term debt and lease obligation5,2385,3505,3685,7345,3904,4844,643
Long-term debt, excluding current maturities5,2385,3505,3685,7345,3904,3104,452
Operating lease, liability     174192
Liabilities, other than long-term debt4,4025,1475,1135,0915,3731,6281,654
Asset retirement obligations     182181
Liability, pension and other postretirement and postemployment benefits2,9613,7733,8413,9164,1131,1311,160
Accrued environmental loss contingencies     3535
Other liabilities1,4411,3741,2721,1751,260281278
Other undisclosed noncurrent liabilities     3137
Total noncurrent liabilities:9,64010,49710,48110,82510,7636,1436,335
Total liabilities:13,20113,77613,46713,75813,6927,3577,373
Temporary equity, carrying amount  738738738  
Stockholders' equity
Stockholders' equity attributable to parent, including:5,4903,9963,2332,3892,018811793
Treasury stock, value(82)(83)(87)(93)(354)(355)(356)
Additional paid in capital4,8924,8875,4915,4875,4314,4464,444
Accumulated other comprehensive income (loss)61823(66)(120)(133)(282)(306)
Accumulated deficit(1)(894)(2,168)(2,948)(2,989)(3,053)(3,043)
Other undisclosed stockholders' equity attributable to parent63636363635454
Stockholders' equity attributable to noncontrolling interest284294308330323313325
Total stockholders' equity:5,7744,2903,5412,7192,3411,1241,118
TOTAL LIABILITIES AND EQUITY:18,97518,06617,74617,21516,7718,4818,491

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

12/31/2021
Q4
9/30/2021
Q3
6/30/2021
Q2
3/31/2021
Q1
12/31/2020
Q4
9/30/2020
Q3
6/30/2020
Q2
Revenues5,3466,0045,0454,0492,2561,6461,093
Revenue from related parties16113577306295282
Cost of revenue(4,114)(4,239)(3,873)(3,764)(2,033)(1,541)(1,221)
Cost of goods and services sold(4,072)(4,229)(3,848)(3,761)(2,013)(1,525)(1,208)
Gross profit:1,2321,7651,172285224105(128)
Operating expenses(113)(116)(105)(108)(116)(67)(81)
Other operating expense, net(42)(10)(25)(3)(20)(16)(13)
Other undisclosed operating income4210253201613
Operating income (loss):1,1191,6491,06717710738(208)
Nonoperating income (expense)(7)(34)(57)(111)(47)(58)76
Net periodic defined benefits expense (reversal of expense), excluding service cost component 464647   
Other nonoperating income 14 261015
Interest and debt expense79 (22)(66)(137) 129
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes  2266137 (129)
Income (loss) from continuing operations before equity method investments, income taxes:1,1911,6151,0106660(20)(133)
Other undisclosed loss from continuing operations before income taxes(79)      
Income (loss) from continuing operations before income taxes:1,1121,6151,0106660(20)(133)
Income tax expense (benefit)(214)(334)(216)(9)132225
Income (loss) before gain (loss) on sale of properties:8981,28179457732(108)
Other undisclosed net income (loss)111 1(0)(0)
Net income (loss):8991,28279557742(108)
Net loss attributable to noncontrolling interest(6)(8)(15)(16)(10)(12)(16)
Net income (loss) attributable to parent:8931,2747804164(10)(124)
Preferred stock dividends and other adjustments (605)     
Undistributed earnings (loss) allocated to participating securities, basic(15)(42)(82)(4)   
Other undisclosed net income available to common stockholders, basic15647824   
Net income (loss) available to common stockholders, diluted:8931,2747804164(10)(124)

Comprehensive Income ($ in millions)

12/31/2021
Q4
9/30/2021
Q3
6/30/2021
Q2
3/31/2021
Q1
12/31/2020
Q4
9/30/2020
Q3
6/30/2020
Q2
Net income (loss):8991,28279557742(108)
Other comprehensive income5958954131492411
Comprehensive income (loss):1,4941,3718497022326(97)
Comprehensive loss, net of tax, attributable to noncontrolling interest(6)(8)(15)(16)(10)(12)(16)
Comprehensive income (loss), net of tax, attributable to parent:1,4881,3638345421314(113)

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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