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)
| 9/30/2019 TTM | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | 12/31/2014 | 12/31/2013 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 399 | 823 | 1,008 | 323 | 285 | 291 | 336 | ||
| Cash and cash equivalents | 399 | 823 | 1,008 | 323 | 285 | 291 | 336 | ||
| Receivables | 224 | 344 | 141 | 129 | 155 | 357 | 402 | ||
| Inventory, net of allowances, customer advances and progress billings | 88 | 183 | 178 | 330 | 327 | 391 | |||
| Inventory | 88 | 183 | 178 | 330 | 327 | 391 | |||
| Prepaid expense | 111 | 93 | 94 | 91 | 110 | 195 | 216 | ||
| Derivative instruments and hedges, assets | 73 | 92 | 39 | ||||||
| Disposal group, including discontinued operation | 12 | 15 | |||||||
| Other current assets | 41 | 27 | 28 | 54 | 30 | 193 | 236 | ||
| Other undisclosed current assets | 217 | 52 | 49 | 57 | 87 | (21) | |||
| Total current assets: | 1,065 | 1,480 | 1,545 | 825 | 983 | 1,449 | 1,560 | ||
| Noncurrent Assets | |||||||||
| Nontrade receivables | 63 | 121 | ✕ | ||||||
| Property, plant and equipment | 1,770 | 1,286 | 1,051 | 984 | 1,059 | 1,415 | 11,153 | ||
| Long-term investments and receivables | 7 | 31 | |||||||
| Long-term investments | 7 | 31 | |||||||
| Intangible assets, net (including goodwill) | 65 | 170 | |||||||
| Goodwill | 2 | 75 | |||||||
| Intangible assets, net (excluding goodwill) | 63 | 95 | |||||||
| Deferred income tax assets | 438 | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | ||
| Other noncurrent assets | 115 | 95 | 123 | 115 | 94 | 144 | 409 | ||
| Other undisclosed noncurrent assets | 42 | 548 | 235 | 85 | (201) | ||||
| Total noncurrent assets: | 2,427 | 2,050 | 1,409 | 1,099 | 1,153 | 1,715 | 11,562 | ||
| TOTAL ASSETS: | 3,491 | 3,530 | 2,953 | 1,924 | 2,136 | 3,164 | 13,122 | ||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 304 | 335 | 279 | 273 | 280 | 679 | 743 | ||
| Accounts payable | 213 | 187 | 128 | 108 | 106 | 272 | 346 | ||
| Accrued liabilities | 34 | 41 | 86 | 255 | 206 | ||||
| Employee-related liabilities | 57 | 74 | 56 | 56 | 53 | 100 | 129 | ||
| Taxes payable | 36 | 30 | 28 | 35 | 53 | 62 | |||
| Interest and dividends payable | 34 | 38 | 31 | 40 | |||||
| Debt | 44 | 44 | 96 | 21 | |||||
| Derivative instruments and hedges, liabilities | 33 | ||||||||
| Due to related parties | 12 | 15 | 14 | 25 | |||||
| Disposal group, including discontinued operation | 7 | 3 | 7 | ||||||
| Other liabilities | 122 | 83 | 56 | 91 | 87 | 151 | 203 | ||
| Other undisclosed current liabilities | 57 | 26 | 193 | 19 | 94 | ||||
| Total current liabilities: | 459 | 468 | 452 | 391 | 582 | 959 | 1,086 | ||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 2,109 | 2,093 | 2,304 | 2,175 | 2,699 | 2,962 | 3,023 | ||
| Long-term debt, excluding current maturities | 2,109 | 2,093 | 2,304 | 2,175 | 2,699 | 2,962 | 3,023 | ||
| Liabilities, other than long-term debt | 564 | 544 | 641 | 688 | 666 | 977 | 2,130 | ||
| Pension and other postretirement defined benefit plans, liabilities | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 294 | ||
| Asset retirement obligations | 179 | 172 | 197 | 194 | 231 | 256 | 310 | ||
| Deferred tax liabilities, net | ✕ | 51 | 1,147 | ||||||
| Liability, pension and other postretirement and postemployment benefits | 233 | 249 | 258 | 281 | 221 | 395 | ✕ | ||
| Disposal group, including discontinued operation, liabilities | 8 | ||||||||
| Other liabilities | 151 | 115 | 187 | 214 | 214 | 275 | 379 | ||
| Total noncurrent liabilities: | 2,673 | 2,637 | 2,945 | 2,863 | 3,365 | 3,940 | 5,152 | ||
| Total liabilities: | 3,131 | 3,105 | 3,398 | 3,254 | 3,947 | 4,898 | 6,238 | ||
| Stockholders' equity | |||||||||
| Stockholders' equity attributable to parent, including: | 360 | 424 | (444) | (1,464) | (1,981) | (1,431) | 6,070 | ||
| Treasury stock, value | (391) | (186) | (170) | (246) | (265) | (286) | (306) | ||
| Additional paid in capital | 3,868 | 3,917 | 3,934 | 3,347 | 2,299 | 2,310 | 2,330 | ||
| Accumulated other comprehensive loss | (266) | (284) | (39) | (21) | (18) | (246) | (113) | ||
| Retained earnings (accumulated deficit) | (2,889) | (3,060) | (4,207) | (4,574) | (4,748) | (3,961) | 3,407 | ||
| Other undisclosed stockholders' equity attributable to parent | 38 | 38 | 38 | 30 | 751 | 751 | 751 | ||
| Stockholders' equity attributable to noncontrolling interest | 0 | 134 | 170 | (303) | 815 | ||||
| Total stockholders' equity: | 360 | 424 | (444) | (1,331) | (1,812) | (1,734) | 6,884 | ||
| TOTAL LIABILITIES AND EQUITY: | 3,491 | 3,530 | 2,953 | 1,924 | 2,136 | 3,164 | 13,122 | ||
Income statement (P&L) ($ in millions)
| 9/30/2019 TTM | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | 12/31/2014 | 12/31/2013 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 2,152 | 2,332 | 2,330 | 2,109 | 2,013 | 4,624 | 5,691 | |
| Revenue, net | ✕ | ✕ | 2,330 | 2,109 | 2,013 | 6,002 | 7,011 | |
| Revenue from related parties | 828 | 1,235 | ✕ | ✕ | ✕ | ✕ | ✕ | |
| Cost of revenue (Cost of Goods and Services Sold) | (1,501) | (1,523) | (1,829) | (1,720) | (1,777) | (4,172) | (4,542) | |
| Gross profit: | 651 | 810 | 502 | 389 | 237 | 451 | 1,149 | |
| Operating expenses | (140) | (136) | (78) | (149) | (85) | (9,897) | (478) | |
| Other operating income (expense), net | (226) | 63 | ||||||
| Other undisclosed operating income (loss) | 226 | (63) | ||||||
| Operating income (loss): | 511 | 673 | 424 | 241 | 151 | (9,445) | 671 | |
| Nonoperating income (expense) | (122) | (109) | (294) | (34) | 162 | (158) | (182) | |
| Investment income, nonoperating | 159 | 141 | ||||||
| Other nonoperating income (expense) | 5 | 17 | 3 | 0 | (3) | 27 | 1 | |
| Interest and debt expense | 200 | 235 | 1,721 | 305 | 226 | 29 | ||
| Other undisclosed loss from continuing operations before equity method investments, income taxes | (200) | (235) | (1,721) | (305) | (226) | (29) | ||
| Income (loss) from continuing operations before equity method investments, income taxes: | 389 | 565 | 129 | 207 | 313 | (9,604) | 489 | |
| Loss from equity method investments | (0) | (10) | (74) | |||||
| Income (loss) from continuing operations before income taxes: | 389 | 565 | 129 | 207 | 313 | (9,614) | 415 | |
| Income tax expense (benefit) | 467 | 475 | 252 | 12 | (169) | 1,302 | (55) | |
| Income (loss) from continuing operations: | 855 | 1,040 | 382 | 219 | 144 | (8,312) | 360 | |
| Income (loss) from discontinued operations | (15) | 88 | (19) | (20) | (892) | 2 | ||
| Net income (loss): | 841 | 1,128 | 363 | 199 | (748) | (8,312) | 362 | |
| Net income (loss) attributable to noncontrolling interest | 4 | (25) | (1) | 1,087 | 52 | |||
| Other undisclosed net loss attributable to parent | (2) | |||||||
| Net income (loss) attributable to parent: | 839 | 1,128 | 367 | 174 | (749) | (7,224) | 414 | |
| Other undisclosed net loss available to common stockholders, basic | (38) | (51) | (49) | |||||
| Net income (loss) available to common stockholders, diluted: | 839 | 1,128 | 367 | 174 | (788) | (7,275) | 365 | |
Comprehensive Income ($ in millions)
| 9/30/2019 TTM | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | 12/31/2014 | 12/31/2013 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | 841 | 1,128 | 363 | 199 | (748) | (8,312) | 362 | |
| Other comprehensive income (loss) | (22) | (245) | (3) | (4) | 223 | (138) | (27) | |
| Comprehensive income (loss): | 818 | 883 | 360 | 196 | (525) | (8,449) | 335 | |
| Comprehensive income (loss), net of tax, attributable to noncontrolling interest | 3 | (25) | 5 | 5 | 31 | |||
| Other undisclosed comprehensive loss, net of tax, attributable to parent | (2) | |||||||
| Comprehensive income (loss), net of tax, attributable to parent: | 817 | 883 | 363 | 171 | (521) | (8,445) | 366 | |
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.