Cleveland-Cliffs Balance Sheet

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Cash & Equivalents	66	54	198	26	48	112
Cash & Short-Term Investments	66	54	198	26	48	112
Cash Growth	69.23%	-72.73%	661.54%	-45.83%	-57.14%	-68.27%
Accounts Receivable	1,797	1,576	1,840	1,960	2,154	1,169
Receivables	1,797	1,576	1,840	1,960	2,154	1,169
Inventory	4,683	5,094	4,460	5,130	5,188	3,828
Other Current Assets	143	183	138	306	263	189
Total Current Assets	6,689	6,907	6,636	7,422	7,653	5,298
Property, Plant & Equipment	9,508	10,293	9,123	9,070	9,186	8,743
Long-Term Investments	132	131	123	133	128	105
Goodwill	1,796	1,768	1,005	1,130	1,116	1,406
Other Intangible Assets	1,142	1,170	201	214	221	188
Other Long-Term Assets	1,023	678	449	786	671	1,031
Total Assets	20,290	20,947	17,537	18,755	18,975	16,771
Accounts Payable	1,914	2,008	2,099	2,186	2,073	1,575
Accrued Expenses	904	914	985	923	585	460
Short-Term Debt	22	29	21	19	-	-
Current Portion of Long-Term Debt	-	-	-	-	-	34
Current Portion of Leases	-	113	90	-	-	-
Current Income Taxes Payable	-	-	-	-	-	147
Current Unearned Revenue	-	-	-	-	-	7
Other Current Liabilities	440	258	313	421	903	706
Total Current Liabilities	3,280	3,322	3,508	3,549	3,561	2,929
Long-Term Debt	8,039	7,065	3,137	4,249	5,238	5,390
Long-Term Leases	-	594	363	-	-	-
Pension & Post-Retirement Benefits	645	751	821	1,058	2,961	4,113
Long-Term Deferred Tax Liabilities	506	858	639	590	112	-
Other Long-Term Liabilities	2,113	1,460	947	1,267	1,329	1,260
Total Liabilities	14,583	14,050	9,415	10,713	13,201	13,692
Common Stock	66	66	66	66	63	63
Additional Paid-In Capital	4,783	4,758	4,861	4,871	4,892	5,431
Retained Earnings	-286	979	1,733	1,334	-1	-2,989
Treasury Stock	-660	-676	-430	-310	-82	-354
Comprehensive Income & Other	1,563	1,537	1,657	1,830	618	-133
Total Common Equity	5,466	6,664	7,887	7,791	5,490	2,018
Minority Interest	241	233	235	251	284	323
Shareholders' Equity	5,707	6,897	8,122	8,042	5,774	3,079
Total Liabilities & Equity	20,290	20,947	17,537	18,755	18,975	16,771
Total Debt	8,061	7,801	3,611	4,268	5,238	5,424
Net Cash (Debt)	-7,995	-7,747	-3,413	-4,242	-5,190	-5,312
Net Cash Per Share	-16.23	-16.14	-6.68	-8.10	-9.30	-14.02
Filing Date Shares Outstanding	494.71	494.48	498.29	514.79	525.41	498.89
Total Common Shares Outstanding	494.7	493.95	504.89	513.34	500.16	477.52
Working Capital	3,409	3,585	3,128	3,873	4,092	2,369
Book Value Per Share	11.05	13.49	15.62	15.18	10.98	4.23
Tangible Book Value	2,528	3,726	6,681	6,447	4,153	424
Tangible Book Value Per Share	5.11	7.54	13.23	12.56	8.30	0.89
Land	1,458	955	864	833	698	440
Buildings	1,172	1,104	946	921	889	703
Machinery	11,539	11,119	9,680	9,289	8,709	6,786
Construction In Progress	604	728	590	552	408	1,364

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