Quarterly report pursuant to Section 13 or 15(d)

Statements Of Unaudited Condensed Consolidated Financial Position

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Statements Of Unaudited Condensed Consolidated Financial Position - USD ($)
$ in Millions
Jun. 30, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 34 $ 26
Accounts receivable, net 2,290 1,960
Inventories 4,727 5,130
Other current assets 114 306
Total current assets 7,165 7,422
Non-current assets:    
Property, plant and equipment, net 8,878 9,070
Goodwill 1,130 1,130
Pension and OPEB, asset 379 356
Other non-current assets 751 777
TOTAL ASSETS 18,303 18,755
Current liabilities:    
Accounts payable 2,116 2,186
Accrued employment costs 455 429
Accrued expenses 261 383
Other current liabilities 576 551
Total current liabilities 3,408 3,549
Non-current liabilities:    
Long-term debt 3,963 4,249
Pension liability, non-current 461 473
OPEB liability, non-current 575 585
Deferred income taxes 545 590
Other non-current liabilities 1,307 1,267
TOTAL LIABILITIES 10,259 10,713
Commitments and contingencies (See Note 17)
SHAREHOLDERS' EQUITY    
Common shares - par value $0.125 per share, Authorized - 1,200,000,000 shares (2022 - 1,200,000,000 shares); Issued - 531,051,530 shares (2022 -531,051,530 shares); Outstanding - 515,052,745 shares (2022 - 513,340,779 shares) 66 66
Capital in excess of par value of shares 4,841 4,871
Retained earnings 1,624 1,334
Cost of 22,372,351 common shares in treasury (2022 - 17,710,751 shares) (372) (310)
Accumulated other comprehensive income 1,643 1,830
Total Cliffs shareholders' equity 7,802 7,791
Noncontrolling interest 242 251
TOTAL EQUITY 8,044 8,042
TOTAL LIABILITIES AND EQUITY $ 18,303 $ 18,755