7Baggers
Quarterly
Annual
    Unit: USD2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 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 2020-03-31 2019-12-31 2019-09-30 2019-06-30 2019-03-31 2018-12-31 2018-09-30 2018-06-30 2018-03-31 2017-12-31 2017-09-30 2017-06-30 2017-03-31 2016-12-31 2016-09-30 2016-06-30 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 2008-03-31 
      
    		                                                                   
      revenues
    		4,585,173,000,000 4,808,163,000,000 4,495,162,000,000 4,325,000,000 4,569,000,000 5,092,000,000  5,112,000,000 5,605,000,000 5,984,000,000 5,295,000,000 5,044,000,000 5,653,000,000 6,337,000,000 5,955,000,000 6,004,000,000 5,045,000,000 4,049,000,000 2,255,800,000 1,646,000,000 1,092,700,000 324,500,000                                              
      cost of goods sold
    		-4,643,000,000 -5,031,000,000 -4,895,000,000 -4,598,000,000 -4,673,000,000 -4,930,000,000  -4,944,000,000 -5,125,000,000 -5,340,000,000 -5,196,000,000 -5,104,000,000 -5,305,000,000 -5,356,000,000 -4,706,000,000 -4,229,000,000 -3,848,000,000 -3,761,000,000 -2,013,100,000 -1,525,400,000 -1,207,500,000 -356,000,000 -251,750,000 -400,700,000 -480,200,000 -126,100,000                                          
      selling, general and administrative expenses
    		-123,000,000 -130,000,000 -126,000,000 -139,000,000 -112,000,000 -103,000,000  -157,000,000 -144,000,000 -149,000,000 -127,000,000 -112,000,000 -124,000,000 -107,000,000 -122,000,000 -112,000,000 -104,000,000 -95,000,000 -94,800,000 -59,600,000 -62,100,000 -26,100,000 -37,200,000 -25,500,000 -30,600,000 -28,100,000     -28,000,000 -77,800,000 -27,500,000 -25,700,000 -36,000,000 -31,100,000 -22,500,000 -28,200,000 -27,800,000 -22,400,000 -30,800,000 -29,100,000 -62,700,000 -52,500,000 -63,700,000 -70,600,000 -48,900,000 -48,400,000 -79,900,000 -63,900,000 -83,500,000 -63,000,000 -81,000,000 -78,300,000 -69,500,000 -50,700,000 -73,700,000 -68,100,000 -50,200,000 -46,000,000 -37,100,000 -28,400,000 -23,400,000 -31,800,000 -50,200,000 -41,800,000 -44,600,000 
      net periodic benefit credits other than service cost component
    		57,000,000 43,000,000 57,000,000 63,000,000 62,000,000 62,000,000  54,000,000 50,000,000 50,000,000 50,000,000 64,000,000 49,000,000 50,000,000 49,000,000 46,000,000 46,000,000 47,000,000                                                  
      excluding depreciation, depletion and amortization
    		2,799,000,000 3,867,000,000 2,748,000,000                                                                 
      other segment items1
    		-26,000,000 7,000,000 11,000,000                                                                 
      total adjusted ebitda
    		129,122,143,000,000 8,316,000,000 -184,000,000    414,000,000                                                             
      interest expense
    		-153,000,000 -149,000,000 -140,000,000 -135,000,000 -102,000,000 -69,000,000 -64,000,000 -63,000,000 -70,000,000 -79,000,000 -77,000,000 -71,000,000 -64,000,000 -64,000,000 -77,000,000 -81,000,000 -85,000,000 -92,000,000 -70,100,000 -68,200,000 -68,700,000 -31,000,000 -24,700,000 -25,300,000 -26,100,000 -25,100,000       -31,400,000 -42,800,000 -44,300,000 -48,700,000 -50,700,000 -56,800,000 -60,300,000 -61,700,000 -63,600,000 -42,900,000 -47,400,000 -44,800,000 -44,600,000 -44,700,000 -40,700,000 -49,100,000 -54,400,000 -47,200,000 -47,100,000 -47,300,000 -47,300,000 -49,600,000 -81,000,000 -38,200,000 -28,900,000 -17,300,000 -13,300,000 -10,200,000 -9,700,000 -10,000,000 -10,000,000 -9,300,000 -12,100,000 -10,700,000 -7,200,000 
      income tax benefit
    		78,000,000 148,000,000 147,000,000 136,000,000 76,000,000 15,000,000 8,000,000    13,000,000     -334,000,000 -216,000,000 -9,000,000 12,500,000 22,400,000 24,700,000 51,400,000   -22,000,000 3,700,000   1,810,000    -2,600,000 1,800,000 10,500,000 7,100,000 2,100,000  600,000 3,400,000 1,800,000  921,400,000 69,100,000 -17,250,000 -65,700,000 -9,300,000 6,000,000 58,800,000 64,000,000 -42,900,000 210,800,000     -69,500,000 -115,700,000 -99,300,000  3,650,000 -1,900,000 17,600,000     
      depreciation, depletion and amortization
    		-288,000,000 -393,000,000 -282,000,000    -230,000,000                                                             
      ebitda from noncontrolling interests2
    		23,000,000 20,000,000 18,000,000                                                                 
      idled facilities charges
    		3,000,000 -204,000,000                                                                  
      changes in fair value of derivatives
    		-10,000,000 -15,000,000 -9,000,000                                                                 
      currency exchange
    		-20,000,000 48,000,000                                                                  
      severance
    		-5,000,000 -19,000,000                                                                  
      other
    		-5,000,000 -3,000,000 -6,000,000    -4,000,000                                                             
      net income
    		-234,000,000 -470,000,000 -483,000,000 -434,000,000 -230,000,000 9,000,000 -53,000,000 -139,000,000 275,000,000 356,000,000 -42,000,000 -204,000,000 165,000,000 601,000,000 814,000,000 1,282,000,000 795,000,000 57,000,000 73,800,000 1,900,000 -108,100,000 -48,600,000 63,200,000 90,900,000 160,800,000 -22,100,000   165,111,600 -84,300,000 309,900,000 53,200,000 30,100,000 -29,800,000 80,800,000 -27,800,000 29,500,000 116,800,000 -57,900,000 6,000,000 65,200,000 -761,700,000 -6,887,200,000 14,500,000 -14,200,000 113,900,000 141,300,000 120,800,000 -1,870,800,000 78,400,000 274,300,000 391,400,000 221,900,000 741,300,000 426,000,000 423,300,000 393,200,000 297,400,000 260,600,000 93,500,000 108,100,000 58,600,000 45,200,000 -7,600,000 53,900,000 174,900,000 16,700,000 
      yoy
    		1.74% -5322.22% 811.32% 212.23% -183.64% -97.47% 26.19% -31.86% 66.67% -40.77% -105.16% -115.91% -79.25% 954.39% 1002.98% 67373.68% -835.43% -217.28% 16.77% -97.91% -167.23% 119.91%   -2.61% -73.78%   448.54% 182.89% 283.54% -291.37% 2.03% -125.51% -239.55% -563.33% -54.75% -115.33% -99.16% -58.62% -559.15% -768.74% -4974.17% -88.00% -99.24% 45.28% -48.49% -69.14% -943.08% -89.42% -35.61% -7.54% -43.57% 149.26% 63.47% 352.73% 263.74% 407.51% 476.55% -1330.26% 100.56% -66.50% 170.66%     
      qoq
    		-50.21% -2.69% 11.29% 88.70% -2655.56% -116.98% -61.87% -150.55% -22.75% -947.62% -79.41% -223.64% -72.55% -26.17% -36.51% 61.26% 1294.74% -22.76% 3784.21% -101.76% 122.43% -176.90% -30.47% -43.47% -827.60%    -295.86% -127.20% 482.52% 76.74% -201.01% -136.88% -390.65% -194.24% -74.74% -301.73% -1065.00% -90.80% -108.56% -88.94% -47597.93% -202.11% -112.47% -19.39% 16.97% -106.46% -2486.22% -71.42% -29.92% 76.39% -70.07% 74.01% 0.64% 7.66% 32.21% 14.12% 178.72% -13.51% 84.47% 29.65% -694.74% -114.10% -69.18% 947.31%  
      net income margin %
    		                                                                   
      capital additions
    		2,052,000,000 1,502,000,000 1,236,000,000                                                                 
      1 other segment items primarily consists of the exclusion of ebitda from noncontrolling interests from adjusted ebitda and certain idled facilities charges and the inclusion of items within miscellaneous – net and other non-operating income.
    		                                                                   
      2 ebitda from noncontrolling interests includes net income attributable to noncontrolling interests of 17 million and the exclusion of depreciation, depletion, and amortization of 6 million.
    		                                                                   
      2 ebitda from noncontrolling interests includes net income attributable to noncontrolling interests of 13 million and the exclusion of depreciation, depletion, and amortization of 7 million.
    		                                                                   
      weirton indefinite idle
    		  -3,000,000                                                                 
      idled facilities employment charges
    		  -41,000,000                                                                 
      amortization of inventory step-up
    		  7,000,000                                                                 
      1 other segment items primarily consists of the exclusion of ebitda of noncontrolling interests and idled facilities employment charges from adjusted ebitda and the inclusion of items within miscellaneous – net and other non-operating income.
    		                                                                   
      2 ebitda of noncontrolling interests includes net income attributable to noncontrolling interests of 12 million and the exclusion of depreciation, depletion, and amortization of 6 million.
    		                                                                   
      operating costs:
    		                                                                   
      acquisition-related costs
    		   -30,000,000 -14,000,000           -4,000,000 -1,000,000 -13,000,000 -21,600,000 -7,500,000 -18,400,000 -42,500,000                                              
      restructuring and other charges
    		   2,000,000 -2,000,000 -25,000,000                                                              
      asset impairments
    		   -19,750,000  -15,000,000                                                              
      miscellaneous – net
    		   -25,000,000 -27,000,000 -13,000,000  -6,500,000 -11,000,000 -12,000,000 -3,000,000 -6,000,000 -37,000,000 -34,000,000 -33,000,000 -10,000,000 -25,000,000 -3,000,000 -19,500,000 -15,500,000 -13,100,000 -13,300,000 -4,750,000 -7,800,000 -5,600,000 -3,600,000                                          
      total operating costs
    		   -4,790,000,000 -4,828,000,000 -5,086,000,000  -5,212,000,000 -5,280,000,000 -5,501,000,000 -5,326,000,000 -5,226,000,000 -5,466,000,000 -5,497,000,000 -4,861,000,000 -4,355,000,000 -3,978,000,000 -3,872,000,000 -2,149,000,000 -1,608,000,000 -1,301,100,000 -437,900,000                                              
      operating income
    		   -465,000,000 -259,000,000 6,000,000  -100,000,000 325,000,000 483,000,000 -31,000,000 -182,000,000 187,000,000 840,000,000 1,094,000,000 1,649,000,000 1,067,000,000 177,000,000 107,200,000 38,000,000 -208,400,000 -78,800,000 81,700,000 121,600,000 226,800,000 -800,000 163,152,600 225,522,000 254,220,500 -40,000,000 97,400,000 326,200,000 114,600,000 81,900,000 131,700,000 34,700,000 74,700,000 -300,000 24,500,000 29,200,000 25,700,000 71,900,000 -7,759,100,000 -11,700,000 16,700,000 224,000,000 262,000,000 168,300,000 -970,100,000 76,300,000 365,300,000 231,100,000 367,900,000 820,300,000 616,900,000 541,200,000 396,600,000 389,200,000 365,800,000 113,400,000 155,600,000 80,500,000 -17,300,000 11,400,000 147,300,000 339,400,000 42,600,000 
      yoy
    		   365.00% -179.69% -98.76%  -45.05% 73.80% -42.50% -102.83% -111.04% -82.47% 374.58% 920.52% 4239.47% -612.00% -324.62% 31.21% -68.75% -191.89% 9750.00% -49.92% -46.08% -10.79% -98.00% 67.51% -30.86% 121.83% -148.84% -26.04% 840.06% 53.41% -27400.00% 437.55% 18.84% 190.66% -100.42% -100.32% -349.57% 53.89% -67.90% -3061.49% -106.95% -101.72% 193.58% -28.28% -27.17% -363.69% -90.70% -40.78% -57.30% -7.24% 110.77% 68.64% 377.25% 154.88% 383.48% -2214.45% 894.74% 5.63% -76.28% -140.61%     
      qoq
    		   79.54% -4416.67%   -130.77% -32.71% -1658.06% -82.97% -197.33% -77.74% -23.22% -33.66% 54.55% 502.82% 65.11% 182.11% -118.23% 164.47% -196.45% -32.81% -46.38% -28450.00% -100.49% -27.66% -11.29% -735.55% -141.07% -70.14% 184.64% 39.93% -37.81% 279.54% -53.55% -25000.00% -101.22% -16.10% 13.62% -64.26% -100.93% 66217.09% -170.06% -92.54% -14.50% 55.67% -117.35% -1371.43% -79.11% 58.07% -37.18% -55.15% 32.97% 13.99% 36.46% 1.90% 6.40% 222.57% -27.12% 93.29% -565.32% -251.75% -92.26% -56.60% 696.71%  
      operating margin %
    		                                                                   
      other income:
    		                                                                   
      loss on extinguishment of debt
    		     -6,000,000 -21,000,000       -66,000,000 -14,000,000                                                     
      changes in fair value of foreign currency contracts
    		   -1,750,000 -7,000,000                                            -400,000   300,000 1,400,000 -6,200,000 50,400,000 56,300,000 15,000,000 32,500,000 -10,000,000 2,300,000 900,000 8,800,000 79,300,000 -3,300,000    
      other non-operating income
    		   -40,000,000  1,000,000  1,000,000 -2,000,000 4,000,000 2,000,000 2,000,000 -1,000,000 -3,000,000  1,000,000 4,000,000  25,800,000 10,000,000 15,200,000 9,200,000 900,000 300,000 600,000 100,000 4,087,000 4,340,000 4,440,000 4,440,000 850,000 2,350,000 800,000 700,000  100,000 200,000 100,000 400,000 -100,000 -2,100,000 -800,000 7,100,000 2,200,000 3,800,000 -1,200,000  1,100,000 -3,500,000 3,300,000 -500,000 1,500,000 -1,300,000 -1,700,000 500,000 500,000 6,800,000 -300,000 6,500,000 700,000 3,500,000 200,000 -1,300,000     
      total other income
    		   -105,000,000 -47,000,000 -12,000,000  -8,000,000 -22,000,000 -25,000,000 -25,000,000 -4,000,000 -12,000,000 -83,000,000 -44,000,000 -34,000,000 -57,000,000 -111,000,000 -46,900,000 -58,200,000 75,900,000 -21,800,000                                              
      income from continuing operations before income taxes
    		   -570,000,000 -306,000,000 -6,000,000  -108,000,000 303,000,000 458,000,000 -56,000,000 -186,000,000 175,000,000 757,000,000 1,050,000,000 1,615,000,000 1,010,000,000 66,000,000 60,300,000 -20,200,000 -132,500,000 -100,600,000 57,900,000 96,600,000 183,400,000 -25,800,000 134,460,600 200,319,400 227,617,800 -69,100,000 3,250,000 13,000,000 79,100,000 -32,100,000 29,350,000 -32,200,000 27,800,000 121,800,000                              
      income from continuing operations
    		   -434,000,000 -230,000,000 9,000,000  -138,000,000 274,000,000 356,000,000 -43,000,000 -205,000,000 165,000,000 600,000,000 813,000,000 1,281,000,000 794,000,000 57,000,000 72,800,000 2,200,000 -107,800,000 -49,200,000 63,400,000 91,800,000 161,400,000 -22,100,000 624,062,000 199,819,400 229,418,000 -84,800,000   76,500,000 -30,300,000 100,100,000 -25,100,000 29,900,000 114,300,000 -34,800,000 49,900,000 -38,200,000 166,800,000 -6,887,200,000  -14,200,000 111,900,000 141,300,000 120,800,000 -1,901,600,000 81,100,000 274,300,000 391,500,000 221,700,000 758,800,000              
      income from discontinued operations, net of tax
    		       -1,000,000 1,000,000  1,000,000 1,000,000  1,000,000 1,000,000 1,000,000 1,000,000   -300,000 -300,000 600,000 -200,000 -900,000 -600,000  -14,610,200 238,023,800  500,000   -46,400,000 500,000 -19,300,000 -2,700,000 -400,000 2,500,000 -23,100,000 -43,900,000 103,400,000 -928,500,000   500,000 2,000,000   1,275,000 -2,700,000  -100,000 200,000 -17,500,000              
      income attributable to noncontrolling interests
    		   -8,250,000 -12,000,000 -7,000,000                                                              
      net income attributable to cliffs shareholders
    		   -447,000,000 -242,000,000 2,000,000  -155,000,000 264,000,000 347,000,000 -57,000,000 -214,000,000 152,000,000 596,000,000 801,000,000 1,274,000,000 780,000,000 41,000,000 64,000,000 -10,000,000 -123,900,000 -52,100,000     609,451,700 437,843,200 165,111,600 -84,300,000   31,800,000 -28,100,000 79,100,000 -25,800,000 12,800,000 108,000,000 -60,300,000 10,600,000 60,200,000 -759,800,000 -5,879,600,000 10,900,000 43,300,000 117,200,000 146,000,000 107,000,000 -1,618,400,000 85,100,000 258,000,000 375,800,000 198,500,000 589,500,000 407,700,000 423,400,000 393,300,000 297,400,000 260,700,000 93,500,000 108,200,000 58,800,000 45,500,000     
      earnings per common share attributable to cliffs shareholders - basic
    		                                           -10,000           2,930,000 3,120,000 1,157,500 2,200,000 1,930,000 690,000 197,500 450,000 360,000 -70,000    
      continuing operations
    		   -930,000 -520,000   -300,000 520,000 680,000 -110,000 -410,000 300,000 1,140,000 1,540,000 2,460,000 1,400,000 80,000 190,000 -20,000 -310,000 -180,000 240,000 340,000 590,000 -80,000 2,099,000 670,000 770,000 -290,000   260,000 -110,000 470,000 -110,000 70,000 610,000 -240,000 190,000 -280,000 1,020,000 -38,490,000  190,000 670,000 870,000 660,000 -11,590,000 620,000 1,810,000 2,640,000 1,370,000 4,210,000              
      discontinued operations
    		                          -50,000 800,000     -160,000   -10,000  10,000 -150,000 -290,000 670,000 -6,060,000    10,000   210,000 -20,000    -120,000              
      earnings per common share attributable to cliffs shareholders - diluted
    		                                           -10,000           2,920,000 3,110,000 1,150,000 2,180,000 1,920,000 690,000 195,000 450,000 360,000 -70,000    
      revenues:
    		                                                                   
      steelmaking
    		      5,027,000,000                                                             
      other businesses
    		      172,000,000                                                             
      total revenues
    		      5,199,000,000                                                             
      adjusted ebitda:
    		                                                                   
      eliminations
    		      2,000,000                                                             
      less:
    		                                                                   
      ebitda of noncontrolling interests1
    		      21,000,000                                                             
      weirton indefinite idle2
    		      -177,000,000                                                             
      1 ebitda of noncontrolling interests includes the following:
    		                                                                   
      net income attributable to noncontrolling interests
    		      14,000,000                                                             
      ebitda of noncontrolling interests
    		      21,000,000                                                             
      2 refer to note 2 - supplementary financial statement information for further information.
    		                                                                   
      gain on extinguishment of debt
    		           1,000,000 4,000,000    -22,000,000 -66,000,000 -2,600,000  129,400,000  -4,550,000  -17,900,000  50,000  200,000           79,200,000  313,700,000                          
      income tax expense
    		       -30,000,000 -29,000,000 -102,000,000  -101,000,000 -10,000,000 -157,000,000 -237,000,000        -5,775,000 -4,800,000              -7,500,000    -175,100,000           -107,800,000 -17,800,000 -151,900,000 -142,000,000    -72,300,000        
      income attributable to noncontrolling interest
    		       -8,750,000 -11,000,000 -9,000,000 -15,000,000 -10,000,000 -13,000,000 -5,000,000 -13,000,000 -8,000,000 -15,000,000 -16,000,000 -9,800,000 -11,900,000 -15,800,000 -3,500,000               -16,700,000    -5,000,000       -13,800,000                    
      other non-operating expense
    		              -2,000,000                                -2,800,000                     
      realization of deferred revenue
    		                  400,000   34,600,000                                              
      average number of shares
    		                                                                   
      basic
    		                  91,311,250,000 399,399,000,000 399,088,000,000 297,515,000,000 -1,657,000,000 269,960,000,000 275,769,000,000 289,525,000,000 -297,587,000,411,000,000 297,878,297,878,000,000 297,618,297,618,000,000 297,266,297,266,000,000   296,070,000,000 265,164,000,000 11,205,000,000 206,279,000,000 182,330,000,000 171,677,000,000 17,000,000 153,237,000,000 153,232,000,000 153,185,000,000 153,108,000,000 153,087,000,000 438,000,000 153,029,000,000 153,011,000,000 147,827,000,000 19,000,000 142,396,000,000 142,380,000,000 142,226,000,000 671,000,000 144,203,000,000 139,000,000,000 135,486,000,000 21,000,000 135,345,000,000 135,319,000,000 135,174,000,000 1,953,000,000 130,840,000,000 125,055,000,000 113,240,000,000 3,866,000,000 104,753,000,000 44,968,000,000 
      diluted
    		                  91,311,250,000 399,399,000,000 399,088,000,000 297,515,000,000 -3,275,000,000 276,578,000,000 285,479,000,000 289,525,000,000 -303,517,999,377,000,000 310,203,310,203,000,000 301,275,301,275,000,000 297,266,297,266,000,000   300,711,000,000 265,164,000,000 11,674,000,000 206,279,000,000 184,557,000,000 171,962,000,000 392,000,000 153,237,000,000 153,232,000,000 178,696,000,000 153,108,000,000 153,087,000,000 1,699,000,000 178,459,000,000 178,428,000,000 148,081,000,000 -429,000,000 142,895,000,000 142,814,000,000 142,709,000,000 691,000,000 144,989,000,000 139,783,000,000 136,191,000,000 40,000,000 136,213,000,000 136,134,000,000 135,954,000,000 1,983,000,000 131,736,000,000 125,779,000,000 113,240,000,000 1,849,000,000 108,719,000,000 52,458,000,000 
      loss per common share attributable to cliffs shareholders - basic
    		                                                                   
      loss per common share attributable to cliffs shareholders - diluted
    		                                                                   
      revenues from product sales and services
    		                                                                   
      product
    		                      339,450,000 515,000,000 697,400,000 145,400,000 646,385,290 684,767,500 672,056,800 220,727,900   512,000,000 412,800,000 676,500,000 508,600,000 452,800,000 275,600,000 432,500,000 542,500,000 454,300,000 399,500,000 1,190,800,000 1,018,600,000 1,417,800,000 1,454,600,000 1,391,600,000 1,082,600,000 1,424,300,000 1,447,900,000 1,546,600,000 1,200,900,000 1,589,300,000 2,124,400,000 1,705,000,000 1,133,000,000 1,341,900,000 1,287,200,000 1,116,200,000 671,500,000 772,100,000 669,900,000 353,100,000 421,100,000 850,400,000 1,110,800,000 412,000,000 
      freight
    		                      24,500,000 40,600,000 45,800,000 11,600,000                                          
      sales margin
    		                      126,900,000 154,900,000 263,000,000 30,900,000 201,942,800 261,625,600 284,523,500 -3,600,000 416,300,000 85,400,000 145,100,000 95,700,000 181,500,000 85,400,000 91,500,000 30,900,000 43,300,000 55,100,000 57,300,000 80,800,000 127,500,000 92,000,000 294,500,000 348,700,000 268,200,000 237,900,000 238,500,000 198,300,000 449,300,000 303,500,000 493,700,000 863,300,000 730,800,000 598,700,000 482,300,000 476,500,000 414,700,000 150,000,000 175,000,000 103,200,000 -11,700,000 42,400,000 285,900,000 365,000,000 82,400,000 
      other operating expense
    		                                                                   
      other income
    		                                                                   
      earnings per common share – basic
    		                                                                   
      earnings per common share – diluted
    		                                                                   
      loss per common share – basic
    		                                                                   
      loss per common share – diluted
    		                                                                   
      freight and venture partners' cost reimbursements
    		                          49,889,300 57,156,000 42,336,000 18,322,000   57,300,000 48,800,000 77,500,000 44,700,000 43,400,000 29,900,000 43,500,000 50,700,000 43,800,000 46,500,000 107,400,000 82,200,000 98,000,000 92,000,000 96,900,000 57,900,000 111,600,000 97,000,000 79,400,000                 
      cost of goods sold and operating expenses
    		                          -494,300,000 -480,200,000 -429,800,000  -500,200,000 -1,328,300,000 -424,200,000 -365,900,000 -572,500,000 -467,900,000 -404,700,000 -274,600,000 -432,700,000 -538,100,000 -440,800,000 -365,200,000 -1,170,700,000 -1,008,800,000 -1,221,300,000 -1,197,900,000 -1,220,300,000 -902,600,000 -1,297,400,000 -1,346,600,000 -1,176,700,000 -961,200,000 -1,168,800,000 -1,279,500,000 -1,075,000,000 -584,500,000 -941,900,000 -869,500,000 -769,600,000 -577,700,000 -645,500,000 -563,200,000 -402,000,000 -422,400,000 -630,400,000 -824,700,000 -412,000,000 
      income per common share attributable to cliffs shareholders – basic
    		                                                                   
      income per common share attributable to cliffs shareholders – diluted
    		                                                                   
      loss attributable to noncontrolling interest
    		                                      375,000 4,600,000  1,900,000                          
      loss per common share attributable to cliffs shareholders – basic
    		                                                                   
      loss per common share attributable to cliffs shareholders – diluted
    		                                                                   
      financial statement line impacted
    		                                                                   
      miscellaneous - net
    		                              24,700,000 3,000,000 -3,000,000 11,900,000 -13,800,000 -19,600,000 5,700,000 -3,000,000 9,000,000 -3,500,000 -800,000 20,200,000 -53,700,000 -47,800,000 49,800,000 -43,500,000 55,300,000 1,500,000 -31,200,000 -12,500,000 28,600,000 9,400,000 14,900,000 64,000,000 -8,200,000 3,800,000 -5,525,000 -22,000,000 -2,200,000 2,100,000 4,825,000 4,900,000 17,000,000 -1,600,000 2,150,000 10,500,000 1,000,000 
      revenues from product sales and services:
    		                                                                   
      u.s. iron ore
    		                              149,196,250 596,785,000                                    
      asia pacific iron ore
    		                              3,750,000 15,000,000                                    
      total revenues from product sales and services
    		                              174,602,500 698,410,000                                    
      sales margin:
    		                                                                   
      other operating income
    		                                                                   
      gain on extinguishment/restructuring of debt
    		                                -4,900,000 -71,900,000 2,200,000 -18,300,000 3,600,000 178,800,000                              
      loss (income) attributable to noncontrolling interest
    		                                1,700,000 1,700,000 -1,700,000 2,000,000       1,007,600,000 -3,600,000 57,500,000 3,300,000 4,700,000                     
      equity income from ventures, net of tax
    		                                       -100,000   -9,200,000 -300,000 -500,000 -500,000 -67,900,000                     
      preferred stock dividends
    		                                       -25,600,000  -12,800,000 -12,800,000 -12,800,000 -12,800,000 -12,900,000 -12,900,000 -9,900,000                   -900,000 
      net income attributable to cliffs common shareholders
    		                                  79,100,000 -25,800,000 12,800,000 108,000,000 -60,300,000 -15,000,000 60,200,000 -772,600,000 -5,892,400,000 -1,900,000 30,500,000 104,300,000                      
      cash dividends declared per depositary share
    		                                       880,000   440,000 440,000 440,000 440,000 440,000 340,000                    
      (income) loss attributable to noncontrolling interest
    		                                     -8,800,000                              
      impairment of goodwill and other long-lived assets
    		                                          -7,769,100,000                         
      income from continuing operations before income taxes and equity income from ventures
    		                                      -35,400,000 46,600,000 -40,000,000 341,900,000 -7,799,400,000 -54,300,000 -27,600,000 178,100,000 218,500,000 120,300,000 -1,028,400,000 32,400,000 317,700,000 187,600,000 322,600,000 765,500,000 589,200,000 562,300,000 402,100,000 409,500,000 351,700,000 169,200,000 153,400,000 81,400,000 53,100,000 2,700,000    
      cash dividends declared per common share
    		                                          150,000 150,000 150,000 150,000 150,000 150,000                    
      exploration costs
    		                                          -1,100,000 -3,400,000 -13,100,000 -10,600,000 -12,600,000 -22,700,000 -47,600,000 -45,600,000 -29,100,000 -18,800,000 -25,100,000 -26,600,000 -18,200,000 -10,600,000            
      net income attributable to common shareholders
    		                                              133,100,000 97,100,000                    
      equity income from ventures
    		                                               -5,500,000 -382,100,000 -15,300,000 -500,000 -6,900,000 6,900,000 11,100,000 -11,300,000 3,000,000 5,100,000 3,600,000 8,200,000 -3,400,000 -9,900,000 -20,900,000 -25,500,000 -9,200,000 -8,900,000 -13,100,000 -6,900,000 
      consolidated thompson acquisition costs
    		                                                    -400,000 -2,100,000 -18,000,000             
      less: income attributable to noncontrolling interest
    		                                                -252,400,000 -6,700,000   42,525,000 151,800,000 18,300,000             
      cash dividends declared per share
    		                                                0.62 0.63 0.63 0.28 0.28 0.28 0.14 0.14 0.143 0.14          
      less: income attributable to
    		                                                                   
      noncontrolling interest
    		                                                  16,300,000 15,600,000     -25,000  -100,000     -200,000    
      freight and venture partners’ cost reimbursements
    		                                                   63,800,000 73,200,000 18,400,000 100,800,000 50,200,000 82,300,000 58,800,000 68,100,000 56,200,000 48,400,000 -3,500,000 37,200,000 43,700,000 65,900,000 78,900,000 82,400,000 
      interest income
    		                                                   2,000,000 1,900,000 2,700,000 2,400,000 2,500,000 1,500,000 3,300,000 2,700,000 2,400,000 3,100,000 1,900,000 2,400,000 3,400,000 8,400,000 5,900,000 5,600,000 
      gain on acquisition of controlling interests
    		                                                        12,300,000 2,100,000  60,600,000        
      less: net income attributable to noncontrolling interest
    		                                                       -100,000     -100,000 -200,000 -300,000     
      casualty recoveries
    		                                                           3,300,000      500,000  
      royalties and management fee revenue
    		                                                        4,400,000 2,800,000 2,700,000 2,200,000 1,300,000 -200,000 1,300,000 2,400,000 5,700,000 5,100,000 3,800,000 
      gain on sale of assets
    		                                                        650,000  800,000 1,800,000 375,000 1,000,000 -500,000     
      less: loss attributable to
    		                                                                   
      cash dividends per share
    		                                                          0.14 0.088 0.093 0.04 0.04 0.088    
      income applicable to common shares
    		                                                            24,225,000 58,800,000 45,500,000 -7,400,000 53,900,000 174,900,000 15,800,000 
      other non-operating income - net
    		                                                               500,000    
      benefit from income taxes
    		                                                               -1,100,000 29,400,000 -52,000,000 -14,300,000 
      less: net income attributable to
    		                                                                   
      net income attributable to cliffs
    		                                                               -7,400,000    
      gain on sale of other assets
    		                                                                5,275,000 100,000  
      changes in fair value of derivative instruments
    		                                                                -93,900,000 -94,300,000  
      other - net
    		                                                                850,000 3,300,000  
      income from continuing operations before income taxes, minority interest and equity income from ventures
    		                                                                25,500,000 243,600,000 41,000,000 
      minority interest
    		                                                                7,900,000 -3,600,000 -3,100,000 
      earnings per common share - basic
    		                                                                1,180,000 1,670,000 350,000 
      earnings per common share - diluted
    		                                                                1,085,000 1,610,000 320,000 
    The information provided in this report is taken from www.sec.gov and many other data providers. While we have conducted our best efforts to ensure that the parsed data is accurate, we cannot guarantee its accuracy. Please use caution and understand that any consequences of its use are your own responsibility.