Cleveland-Cliffs Inc. (CLF)
NYSE: CLF · Real-Time Price · USD
12.07
-0.43 (-3.44%)
Sep 21, 2026, 4:00 PM EDT - Market closed
Cleveland-Cliffs Cash Flow Statement
Financials in millions USD. Fiscal year is January - December.
Millions USD. Fiscal year is Jan - Dec.
Operating Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | 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 |
Net Income | -876 | -1,478 | -760 | 385 | 1,335 | 2,988 |
Depreciation & Amortization | 1,069 | 1,104 | 951 | 973 | 943 | 897 |
Asset Writedown & Restructuring Costs | 12 | 256 | 208 | 125 | 120 | - |
Other Operating Activities | -323 | -556 | -84 | 74 | 196 | 1,097 |
Change in Accounts Receivable | -274 | 134 | 364 | 120 | 197 | -754 |
Change in Inventory | 148 | 315 | -5 | 670 | 64 | -1,370 |
Change in Accounts Payable | 194 | -78 | -401 | 22 | -70 | 457 |
Change in Income Taxes | 5 | 13 | -17 | 122 | -22 | -136 |
Change in Other Net Operating Assets | -206 | -172 | -151 | -224 | -340 | -394 |
Operating Cash Flow | -251 | -462 | 105 | 2,267 | 2,423 | 2,785 |
Operating Cash Flow Growth | - | - | -95.37% | -6.44% | -13.00% | - |
Investing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | 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 |
Capital Expenditures | -606 | -561 | -695 | -646 | -943 | -705 |
Cash Acquisitions | - | - | -2,512 | - | -31 | -707 |
Divestitures | 53 | 53 | - | 35 | - | - |
Other Investing Activities | 64 | 29 | -5 | 20 | 38 | 33 |
Investing Cash Flow | -489 | -479 | -3,212 | -591 | -936 | -1,379 |
Financing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | 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 |
Long-Term Debt Issued | - | 1,983 | 4,781 | 750 | 255 | 6,962 |
Total Debt Issued | 1,577 | 1,983 | 4,781 | 750 | 255 | 6,962 |
Long-Term Debt Repaid | - | -1,794 | -845 | -1,864 | -1,358 | -7,261 |
Total Debt Repaid | -1,611 | -1,794 | -845 | -1,864 | -1,358 | -7,261 |
Net Debt Issued (Repaid) | -34 | 189 | 3,936 | -1,114 | -1,103 | -299 |
Issuance of Common Stock | 951 | 951 | - | - | - | 322 |
Repurchase of Common Stock | - | - | -733 | -152 | -240 | - |
Other Financing Activities | -167 | -198 | -233 | -238 | -166 | -150 |
Financing Cash Flow | 750 | 942 | 2,970 | -1,504 | -1,509 | -1,470 |
Net Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | 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 |
Foreign Exchange Rate Adjustments | -2 | 2 | -1 | - | - | - |
Net Cash Flow | 9 | 3 | -138 | 172 | -22 | -64 |
Free Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | 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 |
Free Cash Flow | -857 | -1,023 | -590 | 1,621 | 1,480 | 2,080 |
Free Cash Flow Growth | - | - | - | 9.53% | -28.85% | - |
Free Cash Flow Margin | -4.46% | -5.50% | -3.08% | 7.37% | 6.44% | 10.17% |
Free Cash Flow Per Share | -1.57 | -2.01 | -1.23 | 3.17 | 2.82 | 3.73 |
Levered Free Cash Flow | 6.13 | -130.63 | -683.25 | 1,637 | 1,399 | 897.63 |
Unlevered Free Cash Flow | 386.75 | 240.63 | -452 | 1,818 | 1,571 | 1,108 |
Additional Metrics
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | 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 Interest Paid | 505 | 459 | 255 | 256 | 249 | 299 |
Cash Income Tax Paid | - | -16 | -30 | -111 | 331 | 150 |
Change in Working Capital | -133 | 212 | -210 | 710 | -171 | -2,197 |