← 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
ASSETS
Current assets:
Accounts receivable, net $128.7m $140.6m $226.7m $94.0m $1.2b $2.2b $2.0b $1.8b $1.6b $1.4b
Cash and Cash Equivalents, at Carrying Value $323.4m $1.0b $823.2m $352.6m $112.0m $48.0m $26.0m $198.0m $54.0m $57.0m
Cash and cash equivalents $323.4m $1.0b $823.2m $352.6m $112.0m $48.0m $26.0m $198.0m $54.0m $57.0m
Other current assets $54.1m $28.0m $27.4m $29.5m $165.0m $263.0m $306.0m $138.0m $183.0m $164.0m
Inventory, Net $178.4m $183.4m $87.9m $317.4m $3.8b $5.2b $5.1b $4.5b $5.1b $4.8b
Assets, Current $824.6m $1.5b $1.5b $897.9m $5.3b $7.7b $7.4b $6.6b $6.9b $6.4b
Total current assets $824.6m $1.5b $1.5b $897.9m $5.3b $7.7b $7.4b $6.6b $6.9b $6.4b
Property, Plant and Equipment, Net $984.4m $1.1b $1.3b $1.9b $8.7b $9.2b $9.1b $8.9b $9.9b $9.5b
Goodwill — — — $2.0m $1.4b $1.1b $1.1b $1.0b $1.8b $1.8b
Intangible Assets, Net (Excluding Goodwill) — — — — — — — — $1.2b $1.1b
Intangible assets — — — — — — — $201.0m $1.2b $1.1b
Operating Lease, Right-of-Use Asset — — — — — — — — $351.0m $292.0m
Other Assets, Noncurrent $114.9m $122.5m $94.9m $154.7m $787.0m $1.0b $777.0m $672.0m $733.0m $678.0m
Additional Financial Items
Accounts Receivable, after Allowance for Credit Loss, Current $128.7m $140.6m $226.7m $94.0m $1.2b $2.2b $2.0b $1.8b $1.6b $1.4b
Accrued Liabilities, Current $41.1m $33.7m $158.9m $126.3m — — $383.0m $380.0m $375.0m $396.0m
Asset retirement and environmental obligations — — — — — — — $557.0m $601.0m $682.0m
Capital in excess of par value of shares $3.3b $3.9b $3.9b $3.9b $5.4b $4.9b $4.9b $4.9b $4.8b $5.7b
Cost of 36,292,287 common shares in treasury (2024 - 37,102,625 shares) — — — — — — ($310.0m) ($430.0m) ($676.0m) ($659.0m)
Deferred income taxes — $0 $464.8m $459.5m $537.0m $112.0m $590.0m $639.0m $858.0m $375.0m
Other current liabilities $91.4m $56.0m $83.3m $52.0m $596.0m $765.0m $934.0m $518.0m $492.0m $496.0m
Other non-current assets $114.9m $122.5m $94.9m $154.7m $787.0m $1.0b $777.0m $672.0m $733.0m $678.0m
Other non-current liabilities $213.8m $186.9m $115.3m $146.3m $1.3b $1.4b $1.3b $1.3b $1.5b $1.4b
AOCI, Debt Securities, Available-for-sale, Adjustment, after Tax $0 — — — — — — — — —
TOTAL EQUITY ($1.3b) ($444.1m) $424.2m $357.9m $2.3b $5.8b $8.0b $8.1b $6.9b $6.3b
Total Cliffs shareholders' equity ($1.5b) ($444.3m) $424.2m $358.0m $2.0b $5.5b $7.8b $7.9b $6.7b $6.1b
Assets $1.9b $3.0b $3.5b $3.5b $16.8b $19.0b $18.8b $17.5b $20.9b $20.0b
TOTAL ASSETS $1.9b $3.0b $3.5b $3.5b $16.8b $19.0b $18.8b $17.5b $20.9b $20.0b
LIABILITIES AND EQUITY
Current liabilities:
Accounts Payable, Current $107.6m $127.7m $186.8m $193.2m $1.6b $2.1b $2.2b $2.1b $2.0b $1.9b
Accrued employment costs $56.1m $56.1m $74.0m $67.0m $460.0m $585.0m $429.0m $511.0m $447.0m $517.0m
Dividends Payable — — $15.0m $16.2m — — — — — —
Dividends Payable, Current — — — $17.8m — — — — — —
Long-term Debt, Current Maturities $17.5m — — — $34.0m — — — — —
Long-term Debt, Excluding Current Maturities $2.2b $2.3b $2.1b $2.1b $5.4b $5.2b $4.2b $3.1b $7.1b $7.3b
Operating Lease, Liability, Current — — — — $53.0m $50.0m $43.0m $41.0m $50.0m $48.0m
Operating Lease, Liability, Noncurrent — — — — $211.0m $220.0m $195.0m $197.0m $275.0m $234.0m
Liabilities, Current $391.1m $452.2m $468.2m $409.4m $2.9b $3.6b $3.5b $3.5b $3.3b $3.3b
Total current liabilities $391.1m $452.2m $468.2m $409.4m $2.9b $3.6b $3.5b $3.5b $3.3b $3.3b
Other Liabilities, Noncurrent $213.8m $186.9m $115.3m $146.3m $1.3b $1.4b $1.3b $1.3b $1.5b $1.4b
Pension and OPEB assets — — — — — $223.0m $356.0m $329.0m $427.0m $469.0m
Pension and OPEB liabilities $280.5m $257.7m $248.7m $311.5m $4.1b — $1.1b $821.0m $751.0m $655.0m
Deferred Tax Liabilities, Net $265.6m $650.2m $622.7m $150.5m $458.0m $98.0m $578.0m $635.0m $854.0m $312.0m
Liabilities $3.3b $3.4b $3.1b $3.1b $13.7b $13.2b $10.7b $9.4b $14.1b $13.7b
TOTAL LIABILITIES $3.3b $3.4b $3.1b $3.1b $13.7b $13.2b $10.7b $9.4b $14.1b $13.7b
Stockholders’ equity:
Accumulated Other Comprehensive Income (Loss), Net of Tax ($21.3m) ($39.0m) ($283.9m) ($318.8m) ($133.0m) $618.0m $1.8b $1.7b $1.5b $1.5b
Accumulated other comprehensive income ($21.3m) ($39.0m) ($283.9m) ($318.8m) ($133.0m) $618.0m $1.8b $1.7b $1.5b $1.5b
Additional Paid in Capital $3.3b $3.9b $3.9b $3.9b $5.4b $4.9b $4.9b $4.9b $4.8b $5.7b
Retained Earnings (Accumulated Deficit) ($4.6b) ($4.2b) ($3.1b) ($2.8b) ($3.0b) ($1.0m) $1.3b $1.7b $979.0m ($529.0m)
Retained earnings (deficit) ($4.6b) ($4.2b) ($3.1b) ($2.8b) ($3.0b) ($1.0m) $1.3b $1.7b $979.0m ($529.0m)
Accumulated Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax ($260.6m) ($263.9m) ($281.1m) ($315.7m) ($133.0m) $618.0m $1.8b $1.7b $1.5b $1.5b
Stockholders' Equity Attributable to Parent ($1.5b) ($444.3m) $424.2m — $2.0b $5.5b $7.8b $7.9b $6.7b $6.1b
Noncontrolling interests $133.8m $200k $0 $0 $323.0m $284.0m $251.0m $235.0m $233.0m $207.0m
Stockholders' Equity Attributable to Noncontrolling Interest $133.8m $200k $0 — $323.0m $284.0m $251.0m $235.0m $233.0m $207.0m
Liabilities and Equity $1.9b $3.0b $3.5b $3.5b $16.8b $19.0b $18.8b $17.5b $20.9b $20.0b
TOTAL LIABILITIES AND EQUITY $1.9b $3.0b $3.5b $3.5b $16.8b $19.0b $18.8b $17.5b $20.9b $20.0b

Data sourced from SEC EDGAR 10-K filings via EdgarTools. Amounts are shown in USD as reported in each fiscal year filing.

Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.