CLF Stock Balance Sheets

Cleveland-Cliffs Quarterly Balance Sheets Chart

Quarterly

Annual

Goodwill

Account Receivables

Cash and Cash Eq

Account Payables

Long-Term Debt

Inventory

Cleveland-Cliffs Quarterly Balance Sheets Table

Quarterly

Annual

Unit: USD	2025-06-30	2025-03-31	2024-12-31	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-01-01	2017-09-30	2017-06-30	2016-12-31	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-09-30	2014-06-30	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31

product inventories
finished and semi-finished goods	2,319,000,000	2,396,000,000		2,275,000,000	2,500,000,000		2,616,000,000	2,765,000,000	2,919,000,000		3,084,000,000	3,081,000,000	2,943,000,000	2,510,000,000	2,452,000,000	2,296,000,000
raw materials	1,882,000,000	1,974,000,000		1,508,000,000	1,535,000,000		1,588,000,000	1,582,000,000	1,626,000,000		2,111,000,000	2,370,000,000	2,312,000,000	1,711,000,000	1,558,000,000	1,372,000,000
total product inventories	4,201,000,000	4,370,000,000		3,783,000,000	4,035,000,000		4,204,000,000	4,347,000,000	4,545,000,000		5,195,000,000	5,451,000,000	5,255,000,000	4,221,000,000	4,010,000,000	3,668,000,000
manufacturing supplies and critical spares	498,000,000	516,000,000		416,000,000	414,000,000		388,000,000	380,000,000	378,000,000		347,000,000	333,000,000	307,000,000	284,000,000	270,000,000	264,000,000
inventories	4,699,000,000	4,886,000,000		4,199,000,000	4,449,000,000	4,460,000,000	4,592,000,000	4,727,000,000	4,923,000,000	5,130,000,000	5,542,000,000	5,784,000,000	5,562,000,000	4,505,000,000	4,280,000,000	3,932,000,000	3,828,000,000			317,400,000				87,900,000	132,000,000			178,400,000		329,600,000			408,500,000	516,700,000	648,800,000	391,400,000	438,400,000	529,200,000	630,100,000	436,500,000	526,700,000	741,000,000	695,900,000	475,700,000	528,200,000	605,300,000	496,400,000	269,200,000	308,500,000	371,800,000	368,200,000	272,500,000	292,300,000	349,400,000	328,900,000	265,400,000	327,200,000		389,800,000
balance as of december 31, 2024	56,000,000
costs incurred1				58,000,000
cash payments	-8,000,000
balance as of march 31, 2025	48,000,000
costs incurred2	70,000,000			23,000,000
non-cash
balance as of june 30, 2025	111,000,000
1 all 3 million of cost incurred was recorded in restructuring and other charges.
2 of the 135 million of cost incurred, 86 million was recorded in restructuring and other charges, 39 million was recorded in asset impairments, and 10 million was recorded in net periodic benefit credits other than service cost component.
capital additions		129,000,000	557,000,000		157,000,000		508,000,000	290,000,000	128,000,000		736,000,000	489,000,000	181,000,000	572,000,000	329,000,000	162,000,000		333,000,000	230,700,000
less:
non-cash accruals		-68,000,000	-58,000,000		-45,000,000		-98,000,000	-89,000,000	-76,000,000		-10,000,000	-2,000,000	-55,000,000	64,000,000	16,000,000	23,000,000		-88,400,000	-91,600,000
equipment financed with seller		16,000,000	50,000,000				47,000,000
right-of-use assets - finance leases		29,000,000	75,000,000		20,000,000		78,000,000	60,000,000	16,000,000		30,000,000	23,000,000		35,000,000	15,000,000	3,000,000		42,500,000	39,400,000
cash paid for capital expenditures including deposits		152,000,000	490,000,000		182,000,000		481,000,000	319,000,000	188,000,000		716,000,000	468,000,000	236,000,000	473,000,000	298,000,000	136,000,000		378,900,000	282,900,000
income taxes paid		1,000,000	13,000,000		1,000,000		91,000,000	37,000,000
income tax refunds		-5,000,000	-5,000,000		-2,000,000		-142,000,000	-138,000,000	-26,000,000			-1,000,000	-1,000,000					-119,300,000	-60,400,000
interest paid on debt obligations net of capitalized interest1		77,000,000	193,000,000		53,000,000		202,000,000	142,000,000	79,000,000			133,000,000	65,000,000					106,000,000	63,000,000
1 capitalized interest was 4 million for both the three months ended march 31, 2025 and 2024, respectively.
1 capitalized interest was 11 million and 8 million for the nine months ended september 30, 2024 and 2023, respectively.
allowance for credit losses as of january 1				-5,000,000	-5,000,000		-4,000,000	-4,000,000	-4,000,000		-4,000,000	-4,000,000	-4,000,000	-5,000,000	-5,000,000	-5,000,000
decrease (increase) in allowance								-3,000,000
allowance for credit losses as of june 30				-5,000,000				-7,000,000				-3,000,000			-5,000,000
balance as of december 31, 2023
balance as of march 31, 2024				58,000,000
balance as of june 30, 2024				73,000,000
1 of the 170 million of cost incurred, 104 million was recorded in restructuring and other charges, 64 million was recorded in asset impairments and 2 million was recorded in net periodic benefit credits other than service cost component.
2 of the 40 million of costs incurred, 25 million was recorded in restructuring and other charges and 15 million was recorded in asset impairments.
increase in allowance							-3,000,000		-1,000,000		-1,000,000					-1,000,000
allowance for credit losses as of march 31					-5,000,000				-5,000,000				-4,000,000			-6,000,000
1 capitalized interest was 4 million and 3 million for the three months ended march 31, 2024 and 2023, respectively.
assets
current assets:
cash and cash equivalents						198,000,000				26,000,000							112,000,000			352,600,000				823,200,000	1,007,700,000			323,400,000		285,200,000			355,700,000	244,000,000	359,900,000	335,500,000	298,800,000	263,300,000	287,200,000	195,200,000	36,300,000	159,200,000	122,300,000	521,600,000	545,100,000	238,100,000	2,267,700,000	1,566,700,000	969,400,000	527,500,000	550,400,000	502,700,000	359,900,000	274,600,000	97,300,000	179,000,000	388,300,000		186,500,000
accounts receivable						1,840,000,000				1,960,000,000							1,169,000,000			94,000,000				226,700,000	217,200,000			128,700,000		40,200,000			87,100,000	166,200,000	198,300,000	270,000,000	291,700,000	259,100,000	272,300,000	329,000,000	285,900,000	310,800,000	247,200,000	304,200,000	364,800,000	317,200,000	506,500,000	359,100,000	214,100,000	255,300,000	131,400,000	103,500,000	87,200,000	41,900,000	79,600,000	68,500,000	137,800,000
other current assets						138,000,000				306,000,000							165,000,000			29,500,000				27,400,000	28,000,000			54,100,000		30,300,000			190,000,000	206,100,000	221,400,000	236,400,000	310,600,000	316,300,000	297,900,000	216,200,000	322,100,000	219,800,000	192,500,000	168,300,000	144,000,000	152,100,000	137,600,000	114,800,000	89,700,000	91,000,000	78,100,000	66,900,000	90,600,000	161,600,000	162,400,000
total current assets						6,636,000,000				7,422,000,000							5,298,000,000			897,900,000				1,479,600,000	1,581,400,000			824,600,000		982,700,000			1,524,400,000	1,360,600,000	1,663,800,000	1,560,000,000	1,669,600,000	1,665,900,000	1,823,900,000	1,650,000,000	1,665,400,000	1,742,600,000	1,587,300,000	1,790,700,000	1,904,800,000	1,688,300,000	3,713,900,000	2,583,700,000	2,022,900,000	1,630,600,000	1,470,500,000	1,161,200,000	1,016,300,000	949,200,000	792,500,000	861,700,000	1,212,200,000		961,300,000
non-current assets:
property, plant and equipment						8,895,000,000				9,070,000,000							8,743,000,000			1,929,000,000				1,286,000,000	1,051,000,000			984,400,000		1,059,000,000			1,047,200,000	3,207,900,000	11,004,800,000	11,153,400,000	11,354,800,000	11,189,600,000	11,236,300,000	11,207,300,000	11,030,700,000	10,882,100,000	10,766,700,000	10,524,600,000	9,835,300,000	9,802,400,000	4,021,500,000	3,979,200,000	3,897,700,000	2,985,200,000	3,069,900,000	2,592,600,000	2,556,300,000	2,485,400,000	2,382,400,000	2,456,100,000
goodwill						1,005,000,000				1,130,000,000							1,406,000,000																				158,600,000	157,200,000	167,600,000	167,400,000	1,167,200,000	1,166,100,000	1,166,900,000	1,152,100,000	1,237,700,000	1,227,300,000	197,300,000	196,500,000	199,800,000	87,100,000	92,200,000	74,600,000	73,000,000				21,300,000
pension and opeb assets						329,000,000
other non-current assets						672,000,000				777,000,000							787,000,000			154,700,000				94,900,000	104,700,000			114,900,000		93,800,000			131,000,000			408,500,000	196,100,000	195,700,000	200,500,000	193,600,000	170,400,000	212,200,000	186,800,000	191,200,000	222,500,000	230,600,000	196,100,000		192,400,000	186,500,000	211,100,000		216,100,000	230,100,000	174,900,000
total assets						17,537,000,000				18,755,000,000							16,771,000,000			3,503,800,000				3,529,600,000	2,990,200,000			1,923,900,000		2,135,500,000			2,702,600,000	4,811,200,000	13,102,400,000	13,121,900,000	13,566,700,000	13,594,900,000	13,821,900,000	13,574,900,000	15,296,800,000	15,194,300,000	14,893,300,000	14,541,700,000	13,945,300,000	13,671,700,000	8,952,300,000	7,778,200,000	7,078,900,000	5,636,300,000	5,531,900,000	4,639,300,000	4,511,200,000	4,296,400,000	4,025,800,000	4,111,100,000	4,309,200,000		3,301,000,000
liabilities and equity
current liabilities:
accounts payable						2,099,000,000				2,186,000,000							1,575,000,000			193,200,000				186,800,000	129,100,000			107,600,000		106,300,000			114,300,000	295,800,000	266,000,000	345,500,000	350,800,000	306,600,000	299,900,000	555,500,000	422,100,000	385,200,000	394,500,000	380,300,000	370,100,000	306,900,000	266,900,000	266,500,000	214,400,000	234,100,000	220,900,000	178,900,000	171,500,000	131,400,000	159,800,000	201,000,000	194,600,000		148,500,000
accrued employment costs						511,000,000				429,000,000							460,000,000	146,600,000						74,000,000				56,100,000		53,000,000						129,000,000				135,600,000				144,200,000				129,900,000				78,400,000				98,900,000	80,900,000		59,300,000
accrued expenses						380,000,000																			107,100,000			41,100,000		85,700,000			167,100,000	325,500,000	338,000,000	206,400,000	404,700,000	425,400,000	470,500,000	258,900,000	485,200,000	402,100,000	380,600,000	165,000,000	359,900,000	361,600,000	257,100,000	136,700,000	233,700,000	209,900,000	185,500,000	77,400,000	144,700,000	125,300,000	146,300,000	46,100,000	83,700,000		54,800,000
other current liabilities						518,000,000				934,000,000							596,000,000			52,000,000				83,300,000	87,600,000			91,400,000		87,300,000			300,100,000	262,300,000	272,400,000	203,000,000	188,600,000	206,100,000	226,600,000	225,100,000	197,800,000	204,700,000	175,700,000	148,100,000	185,700,000	178,500,000	131,700,000	80,600,000	124,100,000	102,100,000	106,900,000	59,100,000	173,200,000	75,900,000	71,300,000
total current liabilities						3,508,000,000				3,549,000,000							2,929,000,000			409,400,000				468,200,000	455,000,000			391,100,000		581,700,000			846,500,000	1,118,300,000	1,037,500,000	1,085,500,000	1,060,500,000	1,154,600,000	1,101,400,000	1,381,500,000	1,714,300,000	1,534,300,000	1,384,600,000	1,493,300,000	1,299,400,000	1,191,000,000	1,107,200,000	1,028,700,000	690,000,000	714,300,000	746,300,000	570,400,000	560,000,000	540,400,000	780,600,000	844,900,000	1,143,800,000		384,600,000
non-current liabilities:
long-term debt						3,137,000,000				4,249,000,000							5,390,000,000			2,113,800,000				2,092,900,000	2,304,200,000			2,175,100,000		2,699,400,000			2,880,900,000	3,012,500,000	3,293,000,000	3,022,600,000	3,319,600,000	3,323,300,000	3,433,000,000	3,960,700,000	3,514,300,000	3,614,100,000	3,583,800,000	3,608,700,000	3,883,500,000	3,898,800,000	2,412,500,000		1,713,000,000	725,000,000	725,000,000		525,000,000	525,000,000
pension and opeb liabilities						821,000,000														311,500,000
deferred income taxes						639,000,000				590,000,000							537,000,000			459,500,000				464,800,000										26,000,000	1,034,100,000	1,146,500,000	5,300,000	202,800,000	137,300,000	91,800,000	612,300,000	522,200,000	511,700,000	209,500,000	79,900,000	54,200,000	126,400,000	140,300,000	62,100,000	70,300,000	114,200,000	151,100,000	214,700,000	208,200,000	251,200,000	251,200,000	198,400,000		40,400,000
other non-current liabilities						1,310,000,000				1,267,000,000							1,260,000,000			146,300,000
total liabilities						9,415,000,000				10,713,000,000							13,692,000,000			3,145,900,000				3,105,400,000	3,400,300,000			3,254,400,000		3,947,100,000			4,484,700,000	4,988,500,000	6,272,800,000	6,237,600,000	6,632,100,000	6,811,100,000	6,962,900,000	7,814,000,000	7,607,600,000	7,586,800,000	7,459,400,000	7,502,000,000	7,093,500,000	7,151,700,000	4,678,400,000	3,939,500,000	3,627,600,000	2,645,400,000	2,705,700,000	2,102,300,000	2,104,300,000	2,030,900,000	2,281,800,000	2,357,100,000	2,551,500,000		1,810,700,000
commitments and contingencies
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 - 504,886,773 shares						66,000,000
capital in excess of par value of shares						4,861,000,000				4,871,000,000							5,431,000,000			3,872,100,000				3,916,700,000				3,347,000,000		2,298,900,000			2,308,100,000	2,312,200,000	2,318,000,000	2,329,500,000	2,029,800,000	2,024,300,000	2,020,900,000	1,774,700,000	1,766,200,000	1,759,600,000	1,755,100,000	1,770,800,000	1,766,100,000	1,760,300,000	903,300,000	896,300,000	875,100,000	871,300,000	868,500,000	695,400,000	693,300,000	696,500,000	439,700,000	442,200,000	161,800,000		122,400,000
retained earnings						1,733,000,000				1,334,000,000																								-2,639,600,000	3,276,000,000	3,407,300,000	3,483,300,000	3,401,900,000	3,291,700,000	3,217,700,000	4,925,700,000	4,929,400,000	4,760,300,000	4,424,300,000	4,266,200,000	3,717,700,000	3,328,800,000	2,924,100,000	2,550,100,000	2,296,400,000	2,054,800,000	1,973,100,000	1,876,400,000	1,822,900,000	1,782,700,000	1,799,900,000	1,756,300,000		1,324,900,000
cost of 26,164,757 common shares in treasury						-430,000,000
accumulated other comprehensive income						1,657,000,000				1,830,000,000																																		-92,600,000	-59,300,000	95,900,000	70,000,000	45,900,000	13,000,000										20,200,000
total cliffs shareholders' equity						7,887,000,000				7,791,000,000							2,018,000,000							424,200,000										30,700,000	6,027,600,000	6,069,500,000	5,779,700,000	5,631,200,000	5,704,600,000	4,632,700,000	6,336,800,000	6,295,000,000
noncontrolling interests						235,000,000
total equity						8,122,000,000				8,042,000,000							2,341,000,000			357,900,000				424,200,000										-177,300,000	6,829,600,000	6,884,300,000	6,934,600,000	6,783,800,000	6,859,000,000	5,760,900,000	7,689,200,000	7,607,500,000	7,433,900,000	7,039,700,000	6,851,800,000	6,520,000,000	4,273,900,000	3,838,700,000	3,451,300,000	2,990,900,000	2,826,200,000	2,537,000,000	2,406,900,000	2,265,500,000	1,744,000,000
total liabilities and equity						17,537,000,000				18,755,000,000										3,503,800,000				3,529,600,000										4,811,200,000	13,102,400,000	13,121,900,000	13,566,700,000	13,594,900,000	13,821,900,000	13,574,900,000	15,296,800,000	15,194,300,000	14,893,300,000	14,541,700,000	13,945,300,000	13,671,700,000	8,952,300,000	7,778,200,000	7,078,900,000	5,636,300,000	5,531,900,000	4,639,300,000	4,511,200,000	4,296,400,000	4,025,800,000
allowance for credit losses as of september 30							-7,000,000				-5,000,000			-5,000,000
1 capitalized interest was 8 million and 7 million for the nine months ended september 30, 2023 and 2022, respectively.
1 capitalized interest was 6 million and 5 million for the six months ended june 30, 2023 and 2022, respectively.
taxes paid on income									1,000,000			299,000,000	1,000,000					3,200,000	200,000
1 capitalized interest was 3 million and 2 million for the three months ended march 31, 2023 and 2022, respectively.
pension and opeb, asset										356,000,000
pension liability, non-current										473,000,000
opeb liability, non-current										585,000,000
authorized - 1,200,000,000 shares (2021 - 1,200,000,000 shares);
issued - 531,051,530 shares (2021 - 506,832,537 shares);
outstanding - 513,340,779 shares										66,000,000
cost of 17,710,751 common shares in treasury										-310,000,000
noncontrolling interest										251,000,000							323,000,000								200,000			133,800,000		169,800,000			213,600,000	-208,000,000	802,000,000	814,800,000	1,154,900,000	1,152,600,000	1,154,400,000	1,128,200,000	1,352,400,000	1,312,500,000	1,293,900,000	1,254,700,000	1,128,400,000	973,800,000	900,000	-7,200,000	14,400,000	-8,900,000	-4,100,000	-5,800,000	1,200,000	400,000	6,400,000
decrease in allowance												1,000,000
1 capitalized interest was 5 million and 3 million for the six months ended june 30, 2022 and 2021, respectively.
1 capitalized interest was 2 million and 1 million for the three months ended march 31, 2022 and 2021, respectively.
income tax receivable, current																	24,000,000			58,600,000				117,300,000
state and local taxes																	147,000,000
pension and opeb liabilities, current																	151,000,000
pension and opeb liabilities, non-current																	4,113,000,000
series b participating redeemable preferred stock - no par value
authorized, issued and outstanding - 583,273 shares																	738,000,000
authorized - 600,000,000 shares (2019 - 600,000,000 shares);
issued - 506,832,537 shares (2019 - 301,886,794 shares);
outstanding - 477,517,372 shares																	63,000,000
retained deficit																	-2,989,000,000			-2,842,400,000				-3,060,200,000				-4,574,300,000		-4,748,400,000			-4,733,200,000
cost of 29,315,165 common shares in treasury																	-354,000,000
accumulated other comprehensive loss																	-133,000,000			-318,800,000				-283,900,000				-21,300,000		-18,000,000			-38,200,000	-101,400,000	-20,200,000	-112,900,000	-178,400,000	-239,600,000	-51,400,000	-55,600,000	-51,000,000	-89,900,000	-70,900,000							-166,600,000	-91,700,000	-122,600,000	-160,900,000	-251,300,000	-388,800,000	-394,600,000	-88,000,000
total liabilities, redeemable preferred stock and equity																	16,771,000,000
accrued interest																		81,800,000						38,400,000	31,400,000			40,200,000
accrued dividends																		1,000,000
other																		50,000,000																																						115,900,000	132,000,000		107,100,000
accrued liabilities																		279,400,000		126,300,000
grants
1 capitalized interest was 38.0 million and 16.9 million for the nine months ended september 30, 2020 and 2019, respectively.
fair value of common shares issued for consideration for business combination																		617,600,000	617,600,000
fair value of equity awards assumed from ak steel acquisition																		3,900,000	3,900,000
derivative assets																				45,800,000				91,500,000	51,000,000												72,700,000	45,100,000	66,400,000	78,600,000	78,300,000	74,800,000	78,800,000	82,100,000	73,600,000	110,200,000	132,900,000	82,600,000	208,600,000	157,600,000	131,700,000	51,500,000		27,500,000	30,200,000	76,900,000	140,200,000		85,800,000
income tax receivable, non-current																				62,700,000				121,300,000
state and local taxes payable																				37,900,000				35,500,000				28,300,000		35,200,000						61,700,000								59,100,000				38,900,000				35,100,000				45,500,000			28,800,000
environmental and mine closure obligations																				164,900,000				172,000,000	196,500,000			193,900,000		231,200,000			165,600,000	305,400,000	304,700,000	309,700,000	299,500,000	235,800,000	240,400,000	252,800,000	226,300,000	231,400,000	227,000,000	222,000,000	210,500,000	207,500,000	189,200,000	184,900,000	194,400,000	170,200,000	167,400,000	124,300,000				12,200,000	123,600,000		8,100,000
authorized - 600,000,000 shares (2018 - 600,000,000 shares);
issued - 301,886,794 shares (2018 - 301,886,794 shares);
outstanding - 270,084,005 shares																				37,700,000
cost of 31,802,789 common shares in treasury																				-390,700,000
operating segment revenues from product sales and services																					590,600,000	747,200,000
elimination of intersegment revenues																					-35,000,000	-4,000,000
total revenues from product sales and services																					555,600,000
operating segment sales margin																					165,800,000	264,600,000
elimination of intersegment sales margin																					-10,900,000	-1,600,000
total sales margin																					154,900,000	263,000,000
total revenue																						743,200,000
assets:
cash equivalents																							854,200			40,037,000	40,012,000				80,000,000	130,000,000
total																							854,200			40,037,000	40,012,000				80,000,000	130,100,000
liabilities:
derivative liabilities																																					36,100,000	88,600,000															29,800,000	71,100,000	142,700,000	194,300,000	38,400,000
current assets
supplies and other inventories																								93,200,000	93,900,000			91,400,000		110,400,000			120,400,000	202,200,000	200,000,000	216,000,000	257,400,000	252,900,000	270,000,000	289,100,000	259,500,000	237,000,000	228,800,000	216,900,000	175,900,000	156,900,000	136,100,000	148,100,000	131,500,000	129,000,000	129,500,000	102,700,000	102,900,000	94,200,000	94,100,000	101,200,000	86,700,000		75,200,000
loans to and accounts receivables from the canadian entities																												48,600,000		72,900,000
current assets of discontinued operations																								12,400,000
other assets																																		242,700,000	433,800,000
deposits for property, plant and equipment																								83,000,000	17,800,000
non-current assets of discontinued operations
total other assets																								764,000,000	357,800,000					93,800,000			131,000,000			408,500,000	542,300,000	739,400,000	761,700,000	717,600,000	2,600,700,000	2,569,600,000	2,539,300,000	2,226,400,000	2,205,200,000	2,181,000,000	1,216,900,000	1,215,300,000	1,158,300,000	1,020,500,000	991,500,000	885,500,000	938,600,000	861,800,000	850,900,000	793,300,000	578,100,000		465,400,000
liabilities
current liabilities
contingent claims																									55,600,000
partnership distribution payable																								43,500,000	44,200,000
current liabilities of discontinued operations																								6,700,000
postemployment benefit liabilities																																									603,300,000	634,200,000	635,600,000		462,400,000	490,900,000	494,000,000		477,100,000	498,000,000	499,000,000		424,800,000	436,600,000	435,600,000
pensions																								218,400,000				245,700,000		209,700,000						197,500,000				403,800,000				394,700,000				284,900,000				267,300,000				250,100,000			88,600,000
other postretirement benefits																								30,300,000				34,800,000		11,300,000						96,500,000				214,500,000				271,100,000				243,100,000				178,500,000				17,900,000			11,200,000
total postemployment benefit liabilities																								248,700,000				280,500,000		221,000,000						294,000,000				618,300,000				665,800,000				528,000,000				445,800,000				448,000,000
non-current liabilities of discontinued operations																								8,300,000
other liabilities																								115,300,000	186,900,000			213,800,000		213,800,000			216,300,000	296,300,000	326,900,000	379,300,000	395,900,000	412,300,000	473,700,000	492,600,000	318,600,000	330,600,000	371,300,000	338,000,000	273,600,000	328,300,000	248,100,000	256,700,000	204,300,000	190,400,000	207,900,000	212,700,000	431,100,000	355,400,000	357,000,000	149,100,000	153,300,000		116,400,000
equity
cliffs shareholders' equity
preferred stock - no par value
class a - 3,000,000 shares authorized
class b - 4,000,000 shares authorized
authorized - 600,000,000 shares (2017 - 600,000,000 shares);
issued - 301,886,794 shares (2017 - 301,886,794 shares);
outstanding - 292,611,569 shares																								37,700,000
cost of 9,275,225 common shares in treasury																								-186,100,000
loans to and accounts receivable from the canadian entities																									51,600,000
income tax receivable																									235,300,000					5,700,000			165,500,000	25,400,000	35,400,000
pension and postemployment benefit liabilities																									257,700,000								250,200,000	230,000,000	276,600,000		556,100,000	586,900,000	600,000,000
cliffs shareholders' deficit																									-410,300,000
total deficit																									-410,100,000			-1,330,500,000		-1,811,600,000			-1,782,100,000
total liabilities and deficit																									2,990,200,000			1,923,900,000		2,135,500,000			2,702,600,000
description
insurance coverage receivable																														93,500,000
accrued royalties																												26,200,000		17,300,000						57,300,000				48,100,000				77,100,000
guarantees																												200,000		96,500,000
insured loss																														93,500,000
7% series a mandatory convertible, class a, no par value and 1,000 per share liquidation preference
issued and outstanding - none issued
authorized - 400,000,000 shares (2015 - 400,000,000 shares);
issued - 238,636,794 shares (2015 - 159,546,224 shares);
outstanding - 233,074,091 shares																												29,800,000
cost of 5,562,703 common shares in treasury																												-245,500,000
total cliffs shareholders' deficit																												-1,464,300,000		-1,981,400,000			-1,995,700,000
income from discontinued operations, net of tax
statements of unaudited condensed consolidated financial position
short-term assets of discontinued operations																														14,900,000			197,200,000
short-term liabilities of discontinued operations																														6,900,000			265,000,000
non-cash operating and investing activities
depreciation, depletion and amortization:
purchase of property, plant and equipment
impairment of long-lived assets
income from discontinued operations
revenues from product sales and services
cost of goods sold and operating expenses
sales margin
other operating expense
other income
income from discontinued operations before income taxes
income tax benefit
long-term assets of discontinued operations
long-term liabilities of discontinued operations																																	125,200,000
issued and outstanding - 731,223 shares																														731,300,000			731,300,000	731,300,000	731,300,000
authorized - 400,000,000 shares (2014 - 400,000,000 shares);
issued - 159,546,224 shares (2014 - 159,546,224 shares);
outstanding - 153,591,930 shares																														19,800,000
cost of 5,954,294 common shares in treasury																														-265,000,000
available-for-sale marketable securities																															4,300,000	100,000
foreign exchange contracts
outstanding - 153,279,552 shares																																	19,800,000
cost of 6,266,672 common shares in treasury																																	-283,500,000
short-term debt and current portion of long-term debt																																		234,700,000
authorized - 400,000,000 shares (2013 - 400,000,000 shares);
issued - 159,546,224 shares (2013 - 159,546,224 shares);
outstanding - 153,162,348 shares																																		19,800,000
cost of 6,383,876 common shares in treasury																																		-291,600,000
short-term and current portion of long-term debt																																			161,100,000
outstanding - 153,182,592 shares																																			19,800,000
cost of 6,363,632 common shares in treasury																																			-297,300,000
deferred and refundable income taxes																																				110,700,000				105,400,000													83,400,000
income taxes payable																																				61,700,000	57,300,000	107,100,000	81,500,000	28,300,000				265,400,000				103,400,000				6,100,000				99,300,000	49,500,000		20,000,000
current portion of debt																																				20,900,000	7,900,000			94,100,000	369,700,000	369,700,000
issued and outstanding - 731,250 shares																																				731,300,000	731,300,000	731,300,000	731,300,000
authorized - 400,000,000 shares (2012 - 400,000,000 shares);
issued - 159,546,224 shares (2012 - 149,195,469 shares);
outstanding - 153,126,291 shares																																				19,800,000
cost of 6,419,933 common shares in treasury																																				-305,500,000
investments in ventures																																					71,500,000	68,700,000	131,800,000	135,800,000	517,000,000	531,200,000	530,900,000	526,600,000	515,800,000	509,400,000	525,400,000	514,800,000	525,300,000	505,700,000	395,300,000	315,100,000	318,500,000	308,400,000	317,400,000	305,300,000	264,200,000		265,900,000
intangible assets																																					110,800,000	115,000,000	124,500,000	129,000,000	133,800,000	137,900,000	143,000,000	147,000,000	149,300,000	159,500,000	171,700,000	175,800,000	178,700,000	170,900,000	178,700,000	114,800,000	116,300,000	115,100,000	107,400,000	109,600,000	91,500,000
deferred revenue																																					15,100,000	20,800,000	22,900,000	35,900,000	125,100,000	123,400,000	108,600,000	126,600,000	99,600,000	141,200,000	238,500,000	215,600,000	75,700,000	100,200,000	165,200,000	105,100,000		71,900,000	129,300,000	86,800,000	181,300,000		14,800,000
issued - 159,545,469 shares (2012 - 149,195,469 shares);
outstanding - 153,124,449 shares																																					19,800,000
cost of 6,421,264 common shares in treasury																																					-306,100,000
outstanding - 153,121,032 shares																																						19,800,000
cost of 6,424,437 common shares in treasury																																						-306,500,000
outstanding - 153,095,702 shares																																							19,800,000
cost of 6,449,767 common shares in treasury																																							-307,700,000
assets held for sale																																									156,600,000
liabilities held for sale																																									29,700,000
class a - 3,000,000 shares authorized and unissued
class b - 4,000,000 shares authorized and unissued
authorized - 400,000,000 shares (2011 - 400,000,000 shares);
issued - 149,195,469 shares (2011 - 149,195,469 shares);
outstanding - 142,495,902 shares																																								18,500,000
cost of 6,699,567 common shares in treasury																																								-322,600,000
taxes payable																																									84,700,000	49,200,000	238,000,000		221,800,000	140,300,000	213,000,000		42,100,000	68,000,000	67,800,000		40,800,000	64,800,000	131,200,000
below-market sales contracts																																									83,800,000	98,500,000	113,200,000	111,800,000	128,400,000	145,100,000	161,700,000	164,400,000	185,700,000	196,300,000	208,100,000	153,300,000	163,400,000	173,500,000	183,600,000	183,600,000	221,300,000
authorized - 400,000,000 shares (2011 - 400,000,000);
outstanding - 142,491,645 shares																																									18,500,000
cost of 6,703,824 common shares in treasury																																									-322,600,000
outstanding - 142,488,633 shares																																										18,500,000
cost of 6,706,836 common shares in treasury																																										-322,600,000
deferred and refundable taxes																																											21,800,000	21,900,000	4,200,000	38,000,000	36,700,000	43,200,000	101,100,000	98,400,000	81,200,000	61,400,000				54,800,000			24,400,000
current portion of term loan																																											87,200,000	74,800,000	62,300,000	62,500,000
cliffs shareholders’ equity
outstanding - 142,487,477 shares																																											18,500,000
cost of 6,707,992 common shares in treasury																																											-323,000,000
total cliffs shareholders’ equity																																											6,140,000,000	5,785,000,000	5,723,400,000	5,546,200,000	4,273,000,000	3,845,900,000	3,436,900,000	2,999,800,000	2,830,300,000	2,542,800,000	2,405,700,000	2,265,100,000	1,737,600,000
below-market sales contracts — current																																												52,700,000				57,100,000				30,300,000				30,300,000
preferred stock — no par value
class a — 3,000,000 shares authorized and unissued
class b — 4,000,000 shares authorized and unissued
common shares — par value 0.125 per share
authorized — 400,000,000 shares (2010 — 224,000,000);
issued — 149,195,469 shares (2010 — 138,845,469 shares);
outstanding — 142,021,718 shares																																												18,500,000
cost of 7,173,751 common shares in treasury																																												-336,000,000
accounts receivable from associated companies																																													69,000,000	70,500,000
authorized - 400,000,000 shares (2010 - 224,000,000 shares);
issued - 149,195,469 shares (2010 - 138,845,469 shares);
outstanding - 143,009,708 shares																																													18,600,000
cost of 6,185,761 common shares in treasury																																													-268,200,000
outstanding - 146,010,183 shares																																														18,600,000
cost of 3,185,286 common shares in treasury																																														-46,300,000
authorized - 224,000,000 shares;
issued - 138,845,469 shares (2010 - 138,845,469 shares);
outstanding - 135,644,830 shares																																															17,300,000
cost of 3,200,639 common shares in treasury																																															-46,400,000
marketable securities																																																85,900,000				88,100,000				25,400,000	62,800,000		54,300,000
long-term receivables																																																56,100,000				49,800,000				33,400,000			36,400,000
deposits and miscellaneous																																																45,900,000				92,000,000				68,400,000			62,900,000
senior notes																																																1,713,100,000				325,000,000			325,000,000	325,000,000	325,000,000
term loan																																																				200,000,000			200,000,000	200,000,000	200,000,000		200,000,000
authorized — 224,000,000 shares;
issued — 138,845,469 shares (2009 — 134,623,528 shares);
outstanding — 135,456,999 shares																																																17,300,000
cost of 3,388,470 common shares in treasury																																																-37,700,000
issued - 138,845,469 shares (2009 - 134,623,528 shares);
outstanding - 135,436,999 shares																																																	17,300,000
cost of 3,408,470 common shares in treasury																																																	-18,600,000
outstanding - 135,441,226 shares																																																		17,300,000
cost of 3,404,243 common shares in treasury																																																		-18,600,000
outstanding - 135,431,974 shares																																																			17,400,000
cost of 3,413,495 common shares in treasury																																																			-18,700,000
3.25% redeemable cumulative convertible perpetual preferred stock — issued 172,500 shares, 205 shares outstanding in 2008
issued — 134,623,528 shares (2008 — 134,623,528 shares);
outstanding — 130,971,470 shares																																																				16,800,000
cost of 3,652,058 common shares in treasury																																																				-19,900,000
3.25% redeemable cumulative convertible perpetual preferred stock - issued 172,500 shares 205 shares outstanding in 2008
issued - 134,623,528 shares (2008 - 134,623,528 shares);
outstanding - 130,975,041 shares																																																					16,800,000
cost of 3,648,487 common shares in treasury																																																					-19,900,000
3.25% redeemable cumulative convertible perpetual
preferred stock - issued 172,500 shares
205 shares outstanding in 2008
issued - 134,623,925 shares (2008 - 134,623,528 shares);
outstanding - 130,994,855 shares																																																						16,800,000
cost of 3,629,070 common shares in treasury																																																						-19,800,000
issued - 134,623,528 shares; outstanding - 113,721,069 shares																																																							16,800,000
cost of 20,902,459 common shares in treasury																																																							-112,800,000
prepaid pensions — salaried
liabilities and shareholders’ equity
revolving credit facility																																																											400,000,000
contingent consideration																																																											99,200,000
deferred payment																																																											97,600,000
minority interest																																																								3,300,000	69,200,000		133,000,000
3.25% redeemable cumulative convertible perpetual preferred stock — issued 172,500 shares 205 and 134,715 outstanding in 2008 and 2007																																																								200,000
shareholders’ equity
issued — 134,623,528 shares; outstanding — 113,508,990 shares																																																								16,800,000
cost of 21,114,538 common shares in treasury																																																								-113,800,000
total shareholders’ equity																																																								1,750,500,000	1,688,300,000		1,246,600,000
total liabilities and shareholders’ equity																																																								4,111,100,000	4,309,200,000		3,301,000,000
property, plant and equipment less accumulated depreciation and depletion - 429.9																																																									2,518,900,000
long term receivables																																																									33,100,000
amounts due to former owners of pinnoak																																																									279,100,000
unregistered common shares issued																																																									165,000,000
pensions and other postretirement benefits																																																									186,100,000
revolving credit
3.25% redeemable cumulative convertible perpetual preferred stock - issued 172,500 shares outstanding 205 and 134,715 in 2008 and 2007																																																									200,000
common shares - par value 0.125 a share authorized - 224,000,000 shares; issued - 134,623,528 shares outstanding - 106,720,611 shares																																																									16,800,000
cost of 27,902,917 common shares in treasury																																																									-158,600,000
beginning balance																																																										63,900,000
total gains
included in earnings																																																										244,900,000
included in other comprehensive income
settlements																																																										-183,000,000
transfers in and/or out of level 3
ending balance - june 30, 2008																																																										125,800,000
total gains for the period included in earnings attributable to the change in unrealized gains or losses on assets still held at june 30, 2008																																																										84,300,000
trade accounts receivable																																																											92,500,000
net properties																																																											1,874,300,000
prepaid pensions																																																											5,500,000
3.25% redeemable cumulative convertible perpetual preferred stock - issued 172,500 shares outstanding 110,705 and 134,715 in 2008 and 2007																																																											110,700,000
common shares - par value 0.25 a share authorized - 112,000,000 shares; issued - 67,311,764 shares																																																											16,800,000
cost of 22,065,203 common shares in treasury																																																											-237,700,000

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