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)
Annual | Quarterly

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments1123538231,008323285291
Cash and cash equivalents1123538231,008323285291
Receivables1,193153344141129155357
Inventory, net of allowances, customer advances and progress billings3,82831788183178330327
Inventory3,82831788183178330327
Prepaid expense  939491110195
Derivative instruments and hedges, assets 469239   
Disposal group, including discontinued operation  12  15 
Other current assets1653027285430193
Other undisclosed current assets   52495787
Total current assets:5,2988981,4801,5458259831,449
Noncurrent Assets
Nontrade receivables 63121    
Property, plant and equipment8,7431,9291,2861,0519841,0591,415
Long-term investments and receivables      7
Long-term investments      7
Intangible assets, net (including goodwill)1,406     65
Goodwill1,406     2
Intangible assets, net (excluding goodwill)      63
Deferred income tax assets537460✕✕✕✕✕
Other noncurrent assets7871559512311594144
Other undisclosed noncurrent assets  548235  85
Total noncurrent assets:11,4732,6062,0501,4091,0991,1531,715
TOTAL ASSETS:16,7713,5043,5302,9531,9242,1363,164
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities2,182357335279273280679
Accounts payable1,575193187128108106272
Accrued liabilities 126 344186255
Employee-related liabilities460 74565653100
Taxes payable147383630283553
Interest and dividends payable  383140  
Debt  4444  96
Postemployment benefits liability151      
Due to related parties   12 1514
Disposal group, including discontinued operation  73 7 
Other liabilities5965283569187151
Other undisclosed current liabilities   572619319
Total current liabilities:2,929409468452391582959
Noncurrent Liabilities
Long-term debt and lease obligation5,3902,1142,0932,3042,1752,6992,962
Long-term debt, excluding current maturities5,3902,1142,0932,3042,1752,6992,962
Liabilities, other than long-term debt5,373623544641688666977
Asset retirement obligations 165172197194231256
Deferred tax liabilities, net✕✕    51
Liability, pension and other postretirement and postemployment benefits4,113312249258281221395
Disposal group, including discontinued operation, liabilities  8    
Other liabilities1,260146115187214214275
Total noncurrent liabilities:10,7632,7372,6372,9452,8633,3653,940
Total liabilities:13,6923,1463,1053,3983,2543,9474,898
Temporary equity, carrying amount738      
Stockholders' equity
Stockholders' equity attributable to parent, including:2,018320424(444)(1,464)(1,981)(1,431)
Treasury stock, value(354)(391)(186)(170)(246)(265)(286)
Additional paid in capital5,4313,8723,9173,9343,3472,2992,310
Accumulated other comprehensive loss(133)(319)(284)(39)(21)(18)(246)
Accumulated deficit(2,989)(2,842)(3,060)(4,207)(4,574)(4,748)(3,961)
Other undisclosed stockholders' equity attributable to parent63 383830751751
Stockholders' equity attributable to noncontrolling interest323  0134170(303)
Other undisclosed stockholders' equity 38     
Total stockholders' equity:2,341358424(444)(1,331)(1,812)(1,734)
TOTAL LIABILITIES AND EQUITY:16,7713,5043,5302,9531,9242,1363,164

Income statement (P&L) ($ in millions)
Annual | Quarterly

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Revenues5,3541,9902,3322,3302,1092,0134,624
Revenue, net✕✕✕2,3302,1092,0136,002
Revenue from related parties893 1,235✕✕✕✕
Cost of revenue(5,162)(1,414)(1,523)(1,829)(1,720)(1,777)(4,172)
Cost of goods and services sold(5,102)(1,414)(1,523)(1,829)(1,720)(1,777)(4,172)
Gross profit:192576810502389237451
Operating expenses(334)(146)(136)(78)(149)(85)(9,897)
Other operating expense, net(60)     (226)
Other undisclosed operating income60     226
Operating income (loss):(142)429673424241151(9,445)
Nonoperating income (expense)(51)(117)(109)(294)(34)162(158)
Investment income, nonoperating      159
Other nonoperating income (expense)5721730(3)27
Interest and debt expense(4)(18)2351,72130522629
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes418(235)(1,721)(305)(226)(29)
Income (loss) from continuing operations before equity method investments, income taxes:(193)312565129207313(9,604)
Loss from equity method investments     (0)(10)
Income (loss) from continuing operations before income taxes:(193)312565129207313(9,614)
Income tax expense (benefit)111(18)47525212(169)1,302
Income (loss) from continuing operations:(82)2951,040382219144(8,312)
Income (loss) from discontinued operations (2)88(19)(20)(892) 
Income (loss) before gain (loss) on sale of properties:(82)2931,128363199(748)(8,312)
Other undisclosed net income1      
Net income (loss):(81)2931,128363199(748)(8,312)
Net income (loss) attributable to noncontrolling interest(41)  4(25)(1)1,087
Net income (loss) attributable to parent:(122)2931,128367174(749)(7,224)
Other undisclosed net loss available to common stockholders, basic     (38)(51)
Net income (loss) available to common stockholders, diluted:(122)2931,128367174(788)(7,275)

Comprehensive Income ($ in millions)
Annual | Quarterly

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Net income (loss):(81)2931,128363199(748)(8,312)
Other comprehensive income (loss)186(35)(245)(3)(4)223(138)
Comprehensive income (loss):105258883360196(525)(8,449)
Comprehensive income (loss), net of tax, attributable to noncontrolling interest(41)  3(25)55
Comprehensive income (loss), net of tax, attributable to parent:64258883363171(521)(8,445)

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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