← CLEVELAND-CLIFFS INC.
| Annual Trend | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | ||||||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||||
| Net Income (Loss) Attributable to Parent | $174.1m |
$367.0m
+110.80%
|
$1.1b
+207.38%
|
$292.8m
-74.04%
|
($122.0m)
-141.67%
|
$3.0b
+2549.18%
|
$1.3b
-55.32%
|
$399.0m
-70.11%
|
($754.0m)
-288.97%
|
($1.5b)
-96.02%
|
— | |
| Net Income (Loss) Attributable to Noncontrolling Interest | $25.2m | ($3.9m) | $0 | $0 | $41.0m | $45.0m | $41.0m | $51.0m | $46.0m | $50.0m | — | |
| Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | $199.3m | $363.1m | $1.1b | $292.8m | ($81.0m) | $3.0b | $1.4b | $450.0m | ($708.0m) | ($1.4b) | — | |
| Amortization of Intangible Assets | — | — | — | — | $8.0m | $10.0m | $13.0m | $13.0m | $24.0m | $81.0m | — | |
| Depreciation | $106.8m | $78.8m | $65.6m | $76.6m | $298.0m | $848.0m | $988.0m | $932.0m | $903.0m | $1.1b | $1.1b | |
| Depreciation, Depletion and Amortization | $115.4m | $87.7m | $89.0m | $85.1m | $308.0m | $897.0m | $1.0b | $973.0m | $951.0m | $1.2b | $1.1b | |
| Deferred Income Tax Expense (Benefit) | $0 | $0 | ($460.5m) | $16.8m | ($101.0m) | $767.0m | $90.0m | $114.0m | ($195.0m) | ($506.0m) | ($305.0m) | |
| Share-based Payment Arrangement, Expense | $14.2m | $18.7m | $15.1m | — | $17.0m | $18.0m | $28.0m | $41.0m | $50.0m | $57.0m | — | |
| Asset impairment | — | — | — | — | — | — | — | $0 | $79.0m | $39.0m | $0 | |
| Goodwill impairment | — | — | — | — | — | $0 | $0 | $125.0m | $0 | $0 | $0 | |
| Goodwill, Impairment Loss | $0 | — | — | — | — | — | — | $125.0m | $0 | $0 | $0 | |
| Restructuring Costs and Asset Impairment Charges | — | — | — | — | — | — | — | — | $210.0m | — | — | |
| Income (Loss) from Equity Method Investments | $0 | $0 | — | — | — | — | — | — | — | — | — | |
| Nonoperating Income (Expense) | ($33.8m) | ($294.2m) | ($108.5m) | ($117.2m) | ($51.0m) | ($209.0m) | ($143.0m) | ($80.0m) | ($187.0m) | ($425.0m) | — | |
| Other Nonoperating Income (Expense) | $400k | $3.2m | $17.2m | $2.2m | $57.0m | $6.0m | ($4.0m) | $5.0m | ($37.0m) | $1.0m | — | |
| Changes in operating assets and liabilities: | ||||||||||||
| Accounts receivable, net | — | — | — | — | — | ($754.0m) | $197.0m | $120.0m | $364.0m | $134.0m | ($274.0m) | |
| Increase (Decrease) in Accounts Receivable | — | — | — | — | — | — | — | ($120.0m) | ($364.0m) | ($134.0m) | ($274.0m) | |
| Increase (Decrease) in Inventories | ($157.8m) | $1.8m | ($42.9m) | $136.3m | $146.0m | $1.4b | ($64.0m) | ($670.0m) | $5.0m | ($315.0m) | $148.0m | |
| Inventories | $157.8m | ($1.8m) | $42.9m | ($136.3m) | ($146.0m) | ($1.4b) | $64.0m | $670.0m | ($5.0m) | $315.0m | $148.0m | |
| Payables, accrued employment and accrued expenses | ($73.9m) | ($69.0m) | ($62.5m) | ($80.8m) | $3.0m | $374.0m | ($186.0m) | $4.0m | ($408.0m) | ($78.0m) | — | |
| Other | $32.6m | $21.2m | $20.7m | $65.4m | $11.0m | $139.0m | $122.0m | $76.0m | $485.0m | $87.0m | — | |
| Other Operating Income (Expense), Net | ($30.7m) | $27.7m | ($19.6m) | ($27.0m) | ($60.0m) | ($80.0m) | ($110.0m) | $0 | ($88.0m) | ($50.0m) | — | |
| Net Cash Provided by (Used in) Operating Activities | $303.0m |
$338.1m
+11.58%
|
$478.5m
+41.53%
|
$562.5m
+17.55%
|
($261.0m)
-146.40%
|
$2.8b
+1167.05%
|
$2.4b
-13.00%
|
$2.3b
-6.44%
|
$105.0m
-95.37%
|
($462.0m)
-540.00%
|
($251.0m)
+45.67%
|
|
| Cash flows from investing activities: | ||||||||||||
| Payments to Acquire Property, Plant, and Equipment | $69.1m | $151.7m | $87.5m | $639.0m | $525.0m | $705.0m | $943.0m | $646.0m | $695.0m | $561.0m | ($606.0m) | |
| Other investing activities | $800k | ($4.3m) | $23.0m | $11.6m | $10.0m | $33.0m | $38.0m | $55.0m | ($5.0m) | $29.0m | — | |
| Payments for (Proceeds from) Other Investing Activities | ($800k) | $4.3m | ($23.0m) | ($11.6m) | ($10.0m) | ($33.0m) | ($38.0m) | ($55.0m) | $5.0m | ($29.0m) | — | |
| Net cash used by investing activities | ($57.9m) | ($156.0m) | ($273.1m) | ($644.4m) | ($2.0b) | ($1.4b) | ($936.0m) | ($591.0m) | ($3.2b) | ($479.0m) | — | |
| Net Cash Provided by (Used in) Investing Activities | ($57.9m) | ($156.0m) | ($273.1m) | ($644.4m) | ($2.0b) | ($1.4b) | ($936.0m) | ($591.0m) | ($3.2b) | ($479.0m) | ($489.0m) | |
| Cash flows from financing activities: | ||||||||||||
| Borrowings (repayments) under credit facilities | $105.0m | $0 | $0 | $0 | $2.1b | $6.0b | $5.7b | $3.0b | $1.6b | ($1.1b) | — | |
| Debt issuance costs | ($5.2m) | ($28.6m) | ($1.5m) | ($6.8m) | ($76.0m) | ($20.0m) | $0 | ($34.0m) | ($109.0m) | ($30.0m) | — | |
| Gain (Loss) on Extinguishment of Debt | $166.3m | ($165.4m) | ($6.8m) | ($18.2m) | $130.0m | ($88.0m) | ($75.0m) | $0 | ($27.0m) | ($10.0m) | — | |
| Proceeds from issuance of debt | $0 | $1.8b | $0 | $720.9m | $1.8b | $1.0b | $0 | $750.0m | $3.2b | $2.0b | $1.6b | |
| Repayments of Long-term Debt | — | — | — | $729.3m | $1.0b | $1.4b | $1.4b | $0 | $845.0m | $685.0m | ($183.0m) | |
| Payments for Repurchase of Common Stock | — | — | $47.5m | $252.9m | $0 | $0 | $240.0m | $152.0m | $733.0m | $0 | — | |
| Payments of Ordinary Dividends, Common Stock | $0 | — | — | $72.1m | $41.0m | — | — | — | — | — | — | |
| Proceeds from Issuance of Common Stock | $287.4m | $661.3m | $0 | $0 | $0 | $322.0m | $0 | $0 | $0 | $951.0m | $951.0m | |
| Dividends Payable | — | — | $15.0m | $16.2m | — | — | — | — | — | — | — | |
| Dividends Payable, Current | — | — | — | $17.8m | — | — | — | — | — | — | — | |
| Other financing activities | ($24.5m) | ($26.7m) | ($47.5m) | ($9.7m) | ($13.0m) | ($130.0m) | ($166.0m) | ($204.0m) | ($124.0m) | ($168.0m) | — | |
| Net cash provided (used) by financing activities | ($206.4m) |
$498.9m
+341.72%
|
($375.2m)
-175.21%
|
($394.1m)
-5.04%
|
$2.1b
+622.46%
|
($1.5b)
-171.39%
|
($1.5b)
-2.65%
|
($1.5b)
+0.33%
|
$3.0b
+297.47%
|
$942.0m
-68.28%
|
— | |
| Net Cash Provided by (Used in) Financing Activities | ($206.4m) |
$498.9m
+341.72%
|
($375.2m)
-175.21%
|
($394.1m)
-5.04%
|
$2.1b
+622.46%
|
($1.5b)
-171.39%
|
($1.5b)
-2.65%
|
($1.5b)
+0.33%
|
$3.0b
+297.47%
|
$942.0m
-68.28%
|
$750.0m
-20.38%
|
|
| Net increase (decrease) in cash and cash equivalents | $73.5m | $665.5m | ($155.1m) | ($470.6m) | — | ($64.0m) | ($22.0m) | $172.0m | ($137.0m) | $1.0m | — | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | $73.5m | $665.5m | ($155.1m) | ($470.6m) | ($244.0m) | ($64.0m) | ($22.0m) | $172.0m | ($137.0m) | $1.0m | $71.0m | |
| Cash, cash equivalents, and restricted cash at beginning of year | — | — | $823.0m | $353.0m | $112.0m | $48.0m | $26.0m | $198.0m | $60.0m | $63.0m | — | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | — | $823.0m | $353.0m | $112.0m | $48.0m | $26.0m | $198.0m | $60.0m | $63.0m | $71.0m | |
| Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | ($500k) | $3.3m | ($2.3m) | $0 | — | — | $0 | $0 | ($1.0m) | $2.0m | ($2.0m) | |
| Restricted cash | — | — | — | — | — | — | $0 | $0 | ($6.0m) | ($6.0m) | — | |
| Effect of exchange rate changes on cash | ($500k) | $3.3m | ($2.3m) | $0 | — | — | $0 | $0 | ($1.0m) | $2.0m | ($2.0m) | |
| Additional Supplementary Disclosures | ||||||||||||
| Additional Supplementary Disclosures | ||||||||||||
| Acquisition of Stelco, net of cash acquired | — | — | $0 | $0 | ($1.5b) | ($707.0m) | ($31.0m) | $0 | ($2.5b) | $0 | — | |
| Additional Financial Items | ||||||||||||
| Asset Retirement Obligation, Accretion Expense | $14.0m | $14.9m | $9.5m | $10.1m | $14.0m | $18.0m | $26.0m | $26.0m | $22.0m | $30.0m | — | |
| Cash and cash equivalents | — | $978.3m | $823.2m | $352.6m | — | — | $26.0m | $198.0m | $54.0m | $57.0m | $61.0m | |
| Foreign Currency Transaction Gain (Loss), Realized | — | — | $228.1m | $0 | $0 | — | — | — | — | — | — | |
| Foreign Currency Transaction Gain (Loss), before Tax | $800k | ($2.7m) | ($200k) | — | — | — | — | — | — | — | — | |
| Goodwill | — | — | — | — | $1.4b | $1.1b | $1.1b | $1.0b | $1.8b | $1.8b | $0 | |
| Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent | $194.0m | $385.7m | $1.0b | $294.5m | ($123.0m) | $3.0b | $1.3b | $398.0m | ($754.0m) | ($1.5b) | — | |
| Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | $219.2m | $381.8m | $1.0b | $294.5m | ($82.0m) | $3.0b | $1.4b | $449.0m | ($708.0m) | ($1.4b) | — | |
| Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent | ($19.9m) | ($18.7m) | $88.2m | ($1.7m) | $1.0m | $3.0m | $3.0m | $1.0m | $0 | ($5.0m) | — | |
| Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | ($19.9m) | ($18.7m) | $88.2m | ($1.7m) | — | — | — | — | — | — | — | |
| Income Tax Expense (Benefit) | ($12.2m) | ($252.4m) | ($475.2m) | $17.6m | ($111.0m) | $773.0m | $423.0m | $148.0m | ($235.0m) | ($581.0m) | — | |
| Income Taxes Paid, Net | — | — | — | — | — | — | — | — | — | ($16.0m) | — | |
| Income taxes | — | — | — | — | $50.0m | ($136.0m) | ($22.0m) | $122.0m | ($17.0m) | $13.0m | — | |
| Interest Paid, Excluding Capitalized Interest, Operating Activities | — | — | $105.7m | $97.6m | $170.0m | $299.0m | $249.0m | $256.0m | $255.0m | $459.0m | — | |
| Operating Expenses | $148.5m | $78.1m | $136.4m | $146.4m | — | — | — | — | — | — | — | |
| Other, net | — | — | — | — | — | ($51.0m) | ($136.0m) | ($130.0m) | $44.0m | ($18.0m) | — | |
| Pension and OPEB credits | — | — | — | $20.0m | ($23.0m) | ($103.0m) | ($132.0m) | ($163.0m) | ($211.0m) | ($187.0m) | — | |
| Pension and OPEB payments and contributions | — | — | ($32.0m) | ($20.0m) | ($75.0m) | ($343.0m) | ($204.0m) | ($94.0m) | ($195.0m) | ($154.0m) | — | |
| Proceeds from issuance of common shares | $287.4m | $661.3m | $0 | $0 | $0 | $322.0m | $0 | $0 | $0 | $951.0m | — | |
| Proceeds from sale of business | — | — | — | — | — | — | — | $35.0m | $0 | $53.0m | — | |
| Repayments of senior notes | — | ($1.7b) | ($234.5m) | ($729.3m) | ($1.0b) | ($1.4b) | ($1.4b) | $0 | ($845.0m) | ($685.0m) | — | |
| Repurchase of common shares | $0 | $0 | ($47.5m) | $252.9m | $0 | $0 | ($240.0m) | ($152.0m) | ($733.0m) | $0 | — | |
| Restructuring Costs | — | — | — | — | — | — | — | — | — | $86.0m | — | |
| Restructuring and other charges | — | — | — | — | — | — | — | $0 | $129.0m | $86.0m | — | |
| Revenue from Contract with Customer, Including Assessed Tax | — | — | $2.2b | — | — | — | — | — | — | — | — | |
| Supplemental disclosure of cash flow information: |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.