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
Sep. 30, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 31 $ 26
Accounts receivable, net 2,122 1,960
Inventories 4,592 5,130
Other current assets 196 306
Total current assets 6,941 7,422
Non-current assets:    
Property, plant and equipment, net 8,837 9,070
Goodwill 1,130 1,130
Pension and OPEB, asset 392 356
Other non-current assets 759 777
TOTAL ASSETS 18,059 18,755
Current liabilities:    
Accounts payable 2,076 2,186
Accrued employment costs 467 429
Accrued expenses 263 383
Other current liabilities 488 551
Total current liabilities 3,294 3,549
Non-current liabilities:    
Long-term debt 3,458 4,249
Pension liability, non-current 456 473
OPEB liability, non-current 563 585
Deferred income taxes 662 590
Other non-current liabilities 1,362 1,267
TOTAL LIABILITIES 9,795 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 - 504,849,719 shares (2022 - 513,340,779 shares) 66 66
Capital in excess of par value of shares 4,850 4,871
Retained earnings 1,888 1,334
Cost of 26,201,811 common shares in treasury (2022 - 17,710,751 shares) (431) (310)
Accumulated other comprehensive income 1,647 1,830
Total Cliffs shareholders' equity 8,020 7,791
Noncontrolling interest 244 251
TOTAL EQUITY 8,264 8,042
TOTAL LIABILITIES AND EQUITY $ 18,059 $ 18,755