Annual report pursuant to Section 13 and 15(d)

Statements of Consolidated Financial Position

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Statements of Consolidated Financial Position - USD ($)
$ in Millions
Dec. 31, 2021
Dec. 31, 2020
Current assets:    
Cash and cash equivalents $ 48 $ 112
Accounts receivable, net 2,154 1,169
Inventories 5,188 3,828
Other current assets 263 189
Total current assets 7,653 5,298
Non-current assets:    
Property, plant and equipment, net 9,186 8,743
Goodwill 1,116 1,406
Other non-current assets 1,020 1,324
TOTAL ASSETS 18,975 16,771
Current liabilities:    
Accounts payable 2,073 1,575
Accrued employment costs 585 460
State and local taxes 138 147
Other current liabilities 765 747
Total current liabilities 3,561 2,929
Non-current liabilities:    
Long-term debt 5,238 5,390
Pension liability, non-current 578 1,224
OPEB liability, non-current 2,383 2,889
Other non-current liabilities 1,441 1,260
TOTAL LIABILITIES 13,201 13,692
Commitments and contingencies (See Note 20)
Series B Participating Redeemable Preferred Stock - no par value. Authorized, Issued and Outstanding - no shares (2020 - 583,273 shares) 0 738
Equity:    
Common Shares - par value $0.125 per share, Authorized - 1,200,000,000 shares (2020 - 600,000,000 shares); Issued - 506,832,537 shares (2020 - 506,832,537) shares); Outstanding - 500,158,955 shares (2020 - 477,517,372) shares) 63 63
Capital in excess of par value of shares 4,892 5,431
Retained deficit (1) (2,989)
Cost of 6,673,582 common shares in treasury (2020 - 29,315,165 shares) (82) (354)
Accumulated other comprehensive income (loss) 618 (133)
Total Cliffs shareholders' equity 5,490 2,018
Noncontrolling interest 284 323
TOTAL EQUITY 5,774 2,341
TOTAL LIABILITIES, REDEEMABLE PREFERRED STOCK AND EQUITY $ 18,975 $ 16,771