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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