Quarterly report [Sections 13 or 15(d)]

Statements Of Unaudited Condensed Consolidated Financial Position

v3.25.1
Statements Of Unaudited Condensed Consolidated Financial Position - USD ($)
$ in Millions
Mar. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and Cash Equivalents, at Carrying Value $ (57) $ (54)
Accounts receivable, net 1,798 1,576
Inventories 4,886 5,094
Other current assets 223 183
Total current assets 6,964 6,907
Non-current assets:    
Property, plant and equipment, net 9,797 9,942
Goodwill 1,767 1,768
Intangible assets 1,150 1,170
Pension and OPEB assets 443 427
Other non-current assets 715 733
TOTAL ASSETS 20,836 20,947
Current liabilities:    
Accounts payable 2,020 2,008
Accrued employment costs 443 447
Accrued expenses 361 375
Other current liabilities 442 492
Total current liabilities 3,266 3,322
Non-current liabilities:    
Long-term debt 7,601 7,065
Pension and OPEB liabilities 711 751
Deferred income taxes 723 858
Asset retirement and environmental obligations 609 601
Other non-current liabilities 1,442 1,453
TOTAL LIABILITIES 14,352 14,050
Commitments and contingencies (See Note 18)
SHAREHOLDERS' EQUITY    
Common shares - par value $0.125 per share 66 66
Capital in excess of par value of shares 4,756 4,758
Retained earnings 484 979
Cost of 36,560,735 common shares in treasury (2024 - 37,102,625 shares) (664) (676)
Accumulated other comprehensive income 1,612 1,537
Total Cliffs shareholders' equity 6,254 6,664
Noncontrolling interests 230 233
TOTAL EQUITY 6,484 6,897
TOTAL LIABILITIES AND EQUITY $ 20,836 $ 20,947