← 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Revenue | $2.1b |
$2.3b
+10.49%
|
$2.3b
+0.09%
|
$2.0b
-14.68%
|
$5.4b
+169.06%
|
$20.4b
+281.85%
|
$23.0b
+12.45%
|
$22.0b
-4.32%
|
$19.2b
-12.78%
|
$18.6b
-3.00%
|
$19.2b
+3.14%
|
|
| Revenue from Contract with Customer, Including Assessed Tax | — | — | $2.2b | — | — | — | — | — | — | — | — | |
| Cost of Revenue | $1.7b |
$1.8b
+6.33%
|
$1.5b
-16.72%
|
$1.4b
-7.13%
|
$5.1b
+260.77%
|
$15.9b
+211.84%
|
$20.5b
+28.67%
|
$20.6b
+0.65%
|
$19.1b
-7.23%
|
$19.5b
+1.86%
|
$19.4b
-0.37%
|
|
| Cost of goods sold | ($1.7b) |
($1.8b)
-6.33%
|
($1.5b)
+16.72%
|
($1.4b)
+7.13%
|
($5.1b)
-260.77%
|
($15.9b)
-211.84%
|
($20.5b)
-28.67%
|
($20.6b)
-0.65%
|
($19.1b)
+7.23%
|
($19.5b)
-1.86%
|
$19.4b
+199.63%
|
|
| Gross Profit | $389.3m |
$501.7m
+28.87%
|
$809.6m
+61.37%
|
$575.7m
-28.89%
|
$252.0m
-56.23%
|
$4.5b
+1699.21%
|
$2.5b
-44.46%
|
$1.4b
-44.76%
|
$3.9b
+181.93%
|
$3.8b
-3.00%
|
($202.0m)
-105.31%
|
|
| Interest Income (Expense), Net | ($200.5m) |
($132.0m)
+34.16%
|
($118.9m)
+9.92%
|
— | — | — | — | — | — | — | — | |
| Selling, General and Administrative Expense | $117.8m | $105.8m | $116.8m | $119.4m | $244.0m | $422.0m | $465.0m | $577.0m | $486.0m | $543.0m | $552.0m | |
| Amortization of Intangible Assets | — | — | — | — | $8.0m | $10.0m | $13.0m | $13.0m | $24.0m | $81.0m | — | |
| Restructuring Costs | — | — | — | — | — | — | — | — | — | $86.0m | — | |
| Restructuring and other charges | — | — | — | — | — | — | $0 | $0 | ($129.0m) | ($86.0m) | — | |
| Operating Expenses | $148.5m | $78.1m | $136.4m | $146.4m | — | — | — | — | — | — | $20.0b | |
| Total operating costs | — | — | ($1.7b) | ($1.6b) | ($5.5b) | ($16.4b) | ($21.1b) | ($21.3b) | ($19.9b) | ($20.2b) | — | |
| Operating Income (Loss) | $240.8m |
$423.6m
+75.91%
|
$673.2m
+58.92%
|
$429.3m
-36.23%
|
($142.0m)
-133.08%
|
$4.0b
+2925.35%
|
$1.9b
-51.67%
|
$677.0m
-65.09%
|
($756.0m)
-211.67%
|
($1.6b)
-108.86%
|
($796.0m)
+49.59%
|
|
| Other Operating Income (Expense), Net | ($30.7m) | $27.7m | ($19.6m) | ($27.0m) | ($60.0m) | ($80.0m) | ($110.0m) | $0 | ($88.0m) | ($50.0m) | — | |
| Interest expense, net | ($200.5m) | ($132.0m) | ($118.9m) | ($101.2m) | ($238.0m) | ($337.0m) | ($276.0m) | ($289.0m) | ($370.0m) | ($594.0m) | $609.0m | |
| Foreign Currency Transaction Gain (Loss), Realized | — | — | $228.1m | $0 | $0 | — | — | — | — | — | — | |
| Foreign Currency Transaction Gain (Loss), before Tax | $800k | ($2.7m) | ($200k) | — | — | — | — | — | — | — | — | |
| Other income (expense) | ||||||||||||
| Income (Loss) from Equity Method Investments | $0 | $0 | — | — | — | — | — | — | — | — | — | |
| Other Nonoperating Income (Expense) | $400k | $3.2m | $17.2m | $2.2m | $57.0m | $6.0m | ($4.0m) | $5.0m | ($37.0m) | $1.0m | — | |
| Interest Income (Expense), Nonoperating, Net | ($200.5m) | ($132.0m) | ($118.9m) | ($101.2m) | ($238.0m) | ($337.0m) | ($276.0m) | ($289.0m) | ($370.0m) | ($594.0m) | — | |
| Nonoperating Income (Expense) | ($33.8m) | ($294.2m) | ($108.5m) | ($117.2m) | ($51.0m) | ($209.0m) | ($143.0m) | ($80.0m) | ($187.0m) | ($425.0m) | — | |
| Total other expense | ($33.8m) | ($294.2m) | ($108.5m) | ($117.2m) | ($51.0m) | ($209.0m) | ($143.0m) | ($80.0m) | ($187.0m) | ($425.0m) | — | |
| Income (Loss) from Continuing Operations before Income Taxes, Domestic | $124.9m | $90.7m | $565.0m | $311.9m | ($201.0m) | $3.8b | $1.8b | $600.0m | ($894.0m) | ($1.5b) | ($1.2b) | |
| Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | $110.4m | $108.2m | $564.7m | $312.1m | ($193.0m) | $3.8b | $1.8b | $597.0m | ($943.0m) | ($2.0b) | ($1.2b) | |
| Current Income Tax Expense (Benefit) | ($11.7m) | ($252.4m) | $200k | ($400k) | ($3.0m) | $69.0m | $333.0m | $34.0m | ($41.0m) | ($75.0m) | ($385.0m) | |
| Income Tax Expense (Benefit) | ($12.2m) | ($252.4m) | ($475.2m) | $17.6m | ($111.0m) | $773.0m | $423.0m | $148.0m | ($235.0m) | ($581.0m) | ($385.0m) | |
| 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%
|
($876.0m)
+40.73%
|
|
| 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 | ($876.0m) | |
| Net income attributable to noncontrolling interests | ($25.2m) | $3.9m | $0 | $0 | ($41.0m) | ($45.0m) | ($41.0m) | ($51.0m) | ($46.0m) | ($50.0m) | — | |
| Undistributed Earnings (Loss) Allocated to Participating Securities, Basic | — | — | — | — | — | $187.0m | $187.0m | — | — | — | — | |
| Continuing operations (in dollars per share) | $0.98 | $1.34 | $3.50 | $1.07 | ($0.32) | $5.35 | $2.55 | $0.78 | ($1.57) | ($2.90) | — | |
| Discontinued operations (in dollars per share) | ($0.10) | ($0.06) | $0.30 | ($0.01) | $0.00 | $0.01 | $0.00 | $0.00 | $0.00 | ($0.01) | — | |
| Earnings Per Share, Basic | $0.88 | $1.28 | $3.80 | $1.06 | ($0.32) | $5.63 | $2.57 | $0.78 | ($1.57) | ($2.91) | ($1.59) | |
| Earnings Per Share, Diluted | $0.87 | $1.26 | $3.71 | $1.03 | ($0.32) | $5.36 | $2.55 | $0.78 | ($1.57) | ($2.91) | ($1.59) | |
| Income (Loss) from Continuing Operations, Per Basic Share | $1 | $1 | $4 | $1 | ($0) | $6 | $3 | $1 | ($2) | ($3) | — | |
| Income (Loss) from Continuing Operations, Per Diluted Share | $1 | $1 | $3 | $1 | ($0) | $5 | $3 | $1 | ($2) | ($3) | — | |
| Common Stock, Dividends, Per Share, Declared | $0.00 | $0.00 | $0.05 | $0.27 | $0.06 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | — | |
| Weighted Average Number of Shares Outstanding, Basic | 197.7m | 288.4m | 297.2m | 276.8m | 379.0m | 498.0m | 519.0m | 510.0m | 480.0m | 508.0m | 546.0m | |
| Weighted Average Number of Shares Outstanding, Diluted | 200.1m | 293.0m | 304.1m | 284.5m | 379.0m | 558.0m | 524.0m | 511.0m | 480.0m | 508.0m | 546.0m | |
| Additional Financial Items | ||||||||||||
| Acquisition-related costs | — | — | $0 | ($7.0m) | ($90.0m) | ($20.0m) | ($4.0m) | ($12.0m) | ($44.0m) | ($1.0m) | — | |
| Asset impairment | — | — | — | — | — | — | ($29.0m) | $0 | ($79.0m) | ($39.0m) | $39.0m | |
| Business Combination, Acquisition Related Costs | — | — | — | — | $90.0m | $20.0m | $4.0m | $12.0m | $44.0m | $1.0m | — | |
| Changes in fair value of derivatives, net | — | — | — | — | — | — | — | $0 | ($41.0m) | ($45.0m) | — | |
| Costs and Expenses | — | — | — | — | $5.5b | $16.4b | $21.1b | $21.3b | $19.9b | $20.2b | — | |
| Goodwill impairment | — | — | — | — | — | $0 | $0 | ($125.0m) | $0 | $0 | $39.0m | |
| Goodwill, Impairment Loss | $0 | — | — | — | — | — | — | $125.0m | $0 | $0 | $39.0m | |
| Income (loss) from discontinued operations, net of tax | $76.7m | $2.5m | $88.2m | ($1.7m) | $1.0m | $3.0m | $3.0m | $1.0m | $0 | ($5.0m) | — | |
| Loss on extinguishment of debt | $166.3m | ($165.4m) | ($6.8m) | ($18.2m) | $130.0m | ($88.0m) | ($75.0m) | $0 | ($27.0m) | ($10.0m) | — | |
| Miscellaneous – net | ($30.7m) | $27.7m | ($19.6m) | ($27.0m) | ($60.0m) | ($80.0m) | ($110.0m) | $0 | ($88.0m) | ($50.0m) | — | |
| Net periodic benefit credits other than service cost component | — | — | — | ($1.0m) | $54.0m | $210.0m | $212.0m | $204.0m | $247.0m | $223.0m | — | |
| 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) | $1.0m | $3.0m | $3.0m | $1.0m | $0 | ($5.0m) | — |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.