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
Jun. 30, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 110 $ 198
Accounts receivable, net 1,773 1,840
Inventories 4,199 4,460
Other current assets 110 138
Total current assets 6,192 6,636
Non-current assets:    
Property, plant and equipment, net 8,728 8,895
Goodwill 1,005 1,005
Pension and OPEB assets 354 329
Other non-current assets 649 672
TOTAL ASSETS 16,928 17,537
Current liabilities:    
Accounts payable 2,080 2,099
Accrued employment costs 431 511
Accrued expenses 296 380
Other current liabilities 511 518
Total current liabilities 3,318 3,508
Non-current liabilities:    
Long-term debt 3,507 3,137
Pension and OPEB liabilities 757 821
Deferred income taxes 621 639
Other non-current liabilities 1,353 1,310
TOTAL LIABILITIES 9,556 9,415
Commitments and contingencies (See Note 17)
SHAREHOLDERS' EQUITY    
Common shares - par value $0.125 per share 66 66
Capital in excess of par value of shares 4,864 4,861
Retained earnings 1,668 1,733
Cost of 63,012,691 common shares in treasury (2023 - 26,164,757 shares) (1,154) (430)
Accumulated other comprehensive income 1,666 1,657
Total Cliffs shareholders' equity 7,110 7,887
Noncontrolling interests 262 235
TOTAL EQUITY 7,372 8,122
TOTAL LIABILITIES AND EQUITY $ 16,928 $ 17,537