Cleveland-Cliffs Inc. (CLF) financial statements (2021 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)

12/31/2020
Q4
9/30/2020
Q3
6/30/2020
Q2
3/31/2020
Q1
12/31/2019
Q4
9/30/2019
Q3
6/30/2019
Q2
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments1125674187353399377
Cash and cash equivalents1125674187353399377
Receivables1,193663545623153224252
Inventory, net of allowances, customer advances and progress billings3,8281,7951,9342,149317 219
Inventory3,8281,7951,9342,149317 219
Prepaid expense     111111
Derivative instruments and hedges, assets    4673118
Other current assets16511590107304142
Other undisclosed current assets     217 
Total current assets:5,2982,6292,6423,0668981,0651,119
Noncurrent Assets
Operating lease, right-of-use asset 208213238   
Nontrade receivables  44636363
Property, plant and equipment8,7434,5514,5484,5501,9291,7701,597
Intangible assets, net (including goodwill)1,406334332353   
Goodwill1,406144139143   
Intangible assets, net (excluding goodwill) 190193210   
Deferred income tax assets537520507486460438 
Other noncurrent assets787240245215155115118
Other undisclosed noncurrent assets     42496
Total noncurrent assets:11,4735,8525,8485,8472,6062,4272,274
TOTAL ASSETS:16,7718,4818,4918,9123,5043,4913,393
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities2,1829907931,125357304278
Accounts payable1,575711505825193213188
Accrued liabilities 279288300126  
Employee-related liabilities460    5758
Taxes payable147   38  
Interest and dividends payable     3431
Debt      44
Derivative instruments and hedges, liabilities     33 
Postemployment benefits liability151      
Other liabilities59622424524652122116
Total current liabilities:2,9291,2141,0381,371409459437
Noncurrent Liabilities
Long-term debt and lease obligation5,3904,4844,6434,6182,1142,1092,105
Long-term debt, excluding current maturities5,3904,3104,4524,3572,1142,1092,105
Finance lease, liability   60   
Operating lease, liability 174192201   
Liabilities, other than long-term debt5,3731,6281,6541,648623564566
Asset retirement obligations 182181179165179177
Liability, pension and other postretirement and postemployment benefits4,1131,1311,1601,172312233239
Accrued environmental loss contingencies 353534   
Other liabilities1,260281278264146151150
Other undisclosed noncurrent liabilities 313744   
Total noncurrent liabilities:10,7636,1436,3356,3112,7372,6732,670
Total liabilities:13,6927,3577,3737,6813,1463,1313,108
Temporary equity, carrying amount738      
Stockholders' equity
Stockholders' equity attributable to parent, including:2,018811793903320360286
Treasury stock, value(354)(355)(356)(365)(391)(391)(391)
Additional paid in capital5,4314,4464,4444,4503,8723,8683,864
Accumulated other comprehensive loss(133)(282)(306)(317)(319)(266)(272)
Accumulated deficit(2,989)(3,053)(3,043)(2,919)(2,842)(2,889)(2,953)
Other undisclosed stockholders' equity attributable to parent63545454 3838
Stockholders' equity attributable to noncontrolling interest323313325328   
Other undisclosed stockholders' equity    38  
Total stockholders' equity:2,3411,1241,1181,231358360286
TOTAL LIABILITIES AND EQUITY:16,7718,4818,4918,9123,5043,4913,393

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

12/31/2020
Q4
9/30/2020
Q3
6/30/2020
Q2
3/31/2020
Q1
12/31/2019
Q4
9/30/2019
Q3
6/30/2019
Q2
Revenues2,2561,6461,093359534556743
Revenue from related parties30629528211  416
Cost of revenue(2,033)(1,541)(1,221)(369)(407)(401)(480)
Cost of goods and services sold(2,013)(1,525)(1,208)(356)(407)(401)(480)
Gross profit:224105(128)(10)127155263
Operating expenses(116)(67)(81)(69)(45)(33)(36)
Other operating expense, net(20)(16)(13)(13)   
Other undisclosed operating income20161313   
Operating income (loss):10738(208)(79)82122227
Nonoperating income (expense)(47)(58)76(22)(24)(25)(43)
Other nonoperating income2610159101
Interest and debt expense(137) 1293  (18)
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes137 (129)(3)  18
Income (loss) from continuing operations before income taxes:60(20)(133)(101)5897183
Income tax expense (benefit)132225516(5)(22)
Income (loss) from continuing operations:732(108)(49)6392161
Other undisclosed loss before gain (loss) on sale of properties    (2)  
Income (loss) before gain (loss) on sale of properties:732(108)(49)6292161
Other undisclosed net income (loss)1(0)(0)1   
Net income (loss):742(108)(49)6292161
Net loss attributable to noncontrolling interest(10)(12)(16)(4)   
Other undisclosed net income (loss) attributable to parent    2(1)(1)
Net income (loss) available to common stockholders, diluted:64(10)(124)(52)6391161

Comprehensive Income ($ in millions)

12/31/2020
Q4
9/30/2020
Q3
6/30/2020
Q2
3/31/2020
Q1
12/31/2019
Q4
9/30/2019
Q3
6/30/2019
Q2
Net income (loss):742(108)(49)6292161
Other comprehensive income (loss)14924112(53)64
Comprehensive income (loss):22326(97)(47)998165
Comprehensive loss, net of tax, attributable to noncontrolling interest(10)(12)(16)(4)   
Other undisclosed comprehensive income (loss), net of tax, attributable to parent    2(1)(1)
Comprehensive income (loss), net of tax, attributable to parent:21314(113)(50)1097165

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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