Below are the financial statements of Cleveland-Cliffs, including the income statement and balance sheet for the company's latest fiscal year. All figures are accurate, verifiable, and fully traceable to the original annual filing where disclosed.
All figures in millions of USD | 2024 | 2023 | 2022 |
---|---|---|---|
Revenues | 19,185a | 21,996a | 22,989a |
Operating costs | — | — | — |
Cost of goods sold | -19,115a | -20,605a | -20,471a |
Selling, general and administrative expenses | -486a | -577a | -465a |
Restructuring and other charges | -129a | 0a | 0a |
Acquisition-related costs | -44a | -12a | -4a |
Asset impairment | -79a | 0a | -29a |
Goodwill impairment | 0a | -125a | 0a |
Miscellaneous - net | -88a | 0a | -81a |
Total operating costs | -19,941a | -21,319a | -21,050a |
Operating income (loss) | -756a | 677a | 1,939a |
Other income (expense) | — | — | — |
Interest expense, net | -370a | -289a | -276a |
Loss on extinguishment of debt | -27a | 0a | -75a |
Net periodic benefit credits other than service cost component | 247a | 204a | 212a |
Other non-operating income (loss) | -37a | 5a | -4a |
Total other expense | -187a | -80a | -143a |
Income (loss) from continuing operations before income taxes | -943a | 597a | 1,796a |
Income tax benefit (expense) | -235a | -148a | -423a |
Income (loss) from continuing operations | -708a | 449a | 1,373a |
Income from discontinued operations, net of tax | 0a | 1a | 3a |
Net income (loss) | -708a | 450a | 1,376a |
Net income attributable to noncontrolling interests | -46a | -51a | -41a |
Net income (loss) attributable to Cliffs shareholders | -754a | 399a | 1,335a |
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