11-YEAR SUMMARY OF FINANCIAL AND OTHER STATISTICAL DATA Exhibit 13(j)
Cleveland-Cliffs Inc and Consolidated Subsidiaries
1993 1992 1991 1990
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FINANCIAL
(In Millions Except Per Share Amounts)
For The Year
Net Income (Loss):
Continuing Operations (a) $ 54.6 $ (7.9) $ 53.8 $ 73.8
Discontinued Operations - - - -
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Total 54.6 (7.9) 53.8 73.8
Net Income (Loss) Per Common Share:
Continuing Operations (a) 4.55 (.66) 4.55 6.31
Discontinued Operations - - - -
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Total 4.55 (.66) 4.55 6.31
Cash Flow (Deficit) From Continuing Operations (22.8) 26.3 92.1 22.6
Revenues From Continuing Operations 355.9 327.0 363.3 400.2
Cash Dividends:
Per Common Share 2.20 1.18 5.03 .80
Per Preferred Share - - - -
Non-Cash Dividends:
Per Common Share 1.70 (b) - - -
Capital Expenditures (c) 5.0 5.2 7.3 11.2
At Year-End
Working Capital 186.0 188.9 139.7 169.8
Total Assets 545.4 537.2 478.7 510.9
Long-Term Debt:
Consolidated 75.0 75.1 41.2 53.0
Effectively Serviced (c) 88.6 92.1 65.0 82.4
Shareholders' Equity 280.7 269.6 290.8 290.8
Book Value Per Common Share 23.27 22.47 24.40 24.88
(a) Results have been affected by non-recurring items including net bankruptcy recoveries of $23.2
million and $47.1 million in 1993 and 1990, respectively, and a $38.7 million after-tax charge for
accounting changes in 1992. See Management's Discussion and Analysis.
(b) Non-cash distribution of 1.5 million shares ($20.4 million) of LTV Corporation common stock.
(c) Includes the Company's share of associated companies.
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OPERATIONS
Iron Ore Production From Mines Managed by Cliffs
(Millions of Gross Tons)
United States 27.8 28.4 27.6 25.5
Canada 4.5 4.5 4.5 6.2
Australia 1.5 1.5 1.3 2.2
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Total 33.8 34.4 33.4 33.9
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OTHER INFORMATION
Common Shares Outstanding (Millions):
Average For Year 12.0 12.0 11.8 11.7
At Year-End 12.1 12.0 11.9 11.7
Common Shares Sales Price Range:
High $ 37 1/2 $ 40 3/8 $ 36 1/2 $ 35
Low 28 3/4 29 1/2 25 19 5/8
Employees At Year-End (d) 5,973 6,388 6,500 6,695
(d) Includes employees of managed mining ventures.
At December 31, 1993, the Company had 3,722 record holders of its common shares.
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1989 1988 1987 1986 1985 1984 1983
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$ 62.5 $ 42.6 $ 30.2 $ (19.0) $ 28.3 $ 24.8 $ 4.8
(1.9) (3.4) (17.5) (22.7) (11.1) (0.7) .1
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60.6 39.2 12.7 (41.7) 17.2 24.1 4.9
5.37 3.12 1.88 (1.94) 2.13 2.00 .39
(.17) (.26) (1.31) (1.82) (.90) (.06) -
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5.20 2.86 .57 (3.76) 1.23 1.94 .39
79.8 56.1 21.1 9.1 39.7 39.3 25.7
372.4 317.5 412.0 241.0 267.9 321.3 259.8
.40 - - .35 1.00 1.00 1.00
- 2.00 2.00 2.00 .68 - -
- .79 - - - - -
14.6 8.4 2.0 3.4 4.4 10.5 4.2
104.7 45.0 220.3 110.0 114.0 77.3 72.0
415.2 390.6 665.6 527.2 511.7 481.5 500.7
71.3 119.6 153.5 80.5 35.4 50.0 62.4
93.4 145.7 183.5 305.3 200.9 234.9 297.4
226.0 168.6 395.4 325.5 363.9 316.7 307.1
19.36 14.53 21.02 22.16 25.24 25.52 24.77
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31.0 31.1 27.1 10.6 12.5 12.9 9.3
8.3 7.9 7.2 2.0 2.1 2.1 1.6
2.3 2.4 2.0 - 14.7 15.3 13.1
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41.6 41.4 36.3 12.6 29.3 30.3 24.0
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11.6 13.2 13.4 12.4 12.4 12.4 12.4
11.7 11.6 16.4 12.4 12.4 12.4 12.4
$ 34 $ 28 $ 21 3/8 $ 19 3/8 $ 22 1/4 $ 26 $ 25 1/4
25 3/4 14 1/4 9 1/4 6 16 5/8 17 18 1/8
7,522 7,638 8,328 8,972 6,387 7,248 7,203
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