v3.25.0.1
Statements of Consolidated Financial Position - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 54 $ 198
Accounts receivable, net 1,576 1,840
Inventories 5,094 4,460
Other current assets 183 138
Total current assets 6,907 6,636
Non-current assets:    
Property, plant and equipment, net 9,942 8,895
Goodwill 1,768 1,005
Intangible assets 1,170 201
Pension and OPEB assets 427 329
Other non-current assets 733 471
TOTAL ASSETS 20,947 17,537
Current liabilities:    
Accounts payable 2,008 2,099
Accrued employment costs 447 511
Accrued expenses 375 380
Other current liabilities 492 518
Total current liabilities 3,322 3,508
Non-current liabilities:    
Long-term debt 7,065 3,137
Pension and OPEB liabilities 751 821
Deferred income taxes 858 639
Asset retirement and environmental obligations 601 557
Other non-current liabilities 1,453 753
TOTAL LIABILITIES 14,050 9,415
Commitments and contingencies (See NOTE 20)
Equity:    
Common Shares - par value $0.125 per share 66 66
Capital in excess of par value of shares 4,758 4,861
Retained earnings 979 1,733
Cost of 37,102,625 common shares in treasury (2023 - 26,164,757 shares) (676) (430)
Accumulated other comprehensive income 1,537 1,657
Total Cliffs shareholders' equity 6,664 7,887
Noncontrolling interests 233 235
TOTAL EQUITY 6,897 8,122
TOTAL LIABILITIES AND EQUITY $ 20,947 $ 17,537

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