Cleveland-Cliffs Balance Sheet

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Equivalents	57	54	198	26	48
Cash & Short-Term Investments	57	54	198	26	48
Cash Growth	5.56%	-72.73%	661.54%	-45.83%	-57.14%
Accounts Receivable	1,442	1,576	1,840	1,960	2,154
Receivables	1,442	1,576	1,840	1,960	2,154
Inventory	4,772	5,094	4,460	5,130	5,188
Other Current Assets	164	183	138	306	263
Total Current Assets	6,435	6,907	6,636	7,422	7,653
Property, Plant & Equipment	9,773	10,293	9,123	9,070	9,186
Long-Term Investments	132	131	123	133	128
Goodwill	1,814	1,768	1,005	1,130	1,116
Other Intangible Assets	1,135	1,170	201	214	221
Other Long-Term Assets	723	678	449	786	671
Total Assets	20,012	20,947	17,537	18,755	18,975
Accounts Payable	1,893	2,008	2,099	2,186	2,073
Accrued Expenses	1,026	953	985	923	585
Short-Term Debt	28	29	21	19	-
Current Portion of Leases	115	113	90	-	-
Other Current Liabilities	240	258	313	421	903
Total Current Liabilities	3,302	3,361	3,508	3,549	3,561
Long-Term Debt	7,253	7,065	3,137	4,249	5,238
Long-Term Leases	569	594	363	-	-
Pension & Post-Retirement Benefits	655	751	821	1,058	2,961
Long-Term Deferred Tax Liabilities	375	849	639	590	112
Other Long-Term Liabilities	1,535	1,460	947	1,267	1,329
Total Liabilities	13,689	14,080	9,415	10,713	13,201
Common Stock	76	66	66	66	63
Additional Paid-In Capital	5,736	4,758	4,861	4,871	4,892
Retained Earnings	-529	949	1,733	1,334	-1
Treasury Stock	-659	-676	-430	-310	-82
Comprehensive Income & Other	1,492	1,537	1,657	1,830	618
Total Common Equity	6,116	6,634	7,887	7,791	5,490
Minority Interest	207	233	235	251	284
Shareholders' Equity	6,323	6,867	8,122	8,042	5,774
Total Liabilities & Equity	20,012	20,947	17,537	18,755	18,975
Total Debt	7,965	7,801	3,611	4,268	5,238
Net Cash (Debt)	-7,908	-7,747	-3,413	-4,242	-5,190
Net Cash Per Share	-15.57	-16.14	-6.68	-8.10	-9.30
Filing Date Shares Outstanding	570.39	494.48	498.29	514.79	525.41
Total Common Shares Outstanding	569.76	493.95	504.89	513.34	500.16
Working Capital	3,133	3,546	3,128	3,873	4,092
Book Value Per Share	10.73	13.43	15.62	15.18	10.98
Tangible Book Value	3,167	3,696	6,681	6,447	4,153
Tangible Book Value Per Share	5.56	7.48	13.23	12.56	8.30
Land	981	955	864	833	698
Buildings	1,205	1,104	946	921	889
Machinery	11,630	11,119	9,680	9,289	8,709
Construction In Progress	655	728	590	552	408

Source: S&P Global Market Intelligence. Standard template. Financial Sources.