Cleveland-Cliffs Inc. Quarterly report pursuant to Section 13 or 15(d)

SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION (Tables)

3 Months Ended

Mar. 31, 2023

The following is a roll-forward of our allowance for credit losses associated with Accounts receivable, net:


(In millions)	2023		2022
Allowance for credit losses as of January 1	$	(4)	$	(4)
Increase in allowance	(1)		—
Allowance for credit losses as of March 31	$	(5)	$	(4)

The following table presents the detail of our Inventories on the Statements of Unaudited Condensed Consolidated Financial Position:


(In millions)	March 31, 2023		December 31, 2022
Product inventories
Finished and semi-finished goods	$	2,919	$	2,971
Raw materials	1,626		1,794
Total product inventories	4,545		4,765
Manufacturing supplies and critical spares	378		365
Inventories	$	4,923	$	5,130

A reconciliation of capital additions to cash paid for capital expenditures is as follows:


	Three Months Ended March 31,
(In millions)	2023		2022
Capital additions	$	128	$	181
Less:
Non-cash accruals	(76)		(55)
Right-of-use assets - finance leases	16		—

Cash paid for capital expenditures including deposits	$	188	$	236

Cash payments (receipts) for income taxes and interest are as follows:


	Three Months Ended March 31,
(In millions)	2023		2022
Taxes paid on income	$	1	$	1
Income tax refunds	(26)		(1)
Interest paid on debt obligations net of capitalized interest1	79		65

1 Capitalized interest was $3 million and $2 million for the three months ended March 31, 2023 and 2022, respectively.