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Quarterly report pursuant to Section 13 or 15(d)

Statements Of Unaudited Condensed Consolidated Financial Position

v3.20.1
Statements Of Unaudited Condensed Consolidated Financial Position - USD ($)
$ in Millions
Mar. 31, 2020
Dec. 31, 2019
Current assets: Ìý Ìý
Cash and cash equivalents $ 186.9 $ 352.6
Accounts receivable, net 560.8 94.0
Inventories 2,148.8 317.4
Income tax receivable, current 61.7 58.6
Other current assets 107.4 75.3
Total current assets 3,065.6 897.9
Non-current assets: Ìý Ìý
Property, plant and equipment, net 4,549.8 1,929.0
Goodwill 143.3 2.1
Intangible assets, net 210.0 48.1
Income tax receivable, non-current 4.1 62.7
Deferred income taxes 486.4 459.5
Right-of-use asset, operating lease 238.0 11.7
Other non-current assets 215.1 92.8
TOTAL ASSETS 8,912.3 3,503.8
Current liabilities: Ìý Ìý
Accounts payable 825.3 193.2
Accrued liabilities 299.8 126.3
Other current liabilities 245.7 89.9
TOTAL CURRENT LIABILITIES 1,370.8 409.4
Non-current liabilities: Ìý Ìý
Long-term debt 4,357.1 2,113.8
Operating lease liability, non-current 201.2 10.5
Intangible liability, net 137.9 0.0
Pension and OPEB liabilities 1,171.6 311.5
Asset retirement obligations 179.2 163.2
Other non-current liabilities 263.5 137.5
TOTAL LIABILITIES 7,681.3 3,145.9
Commitments and contingencies (See Note 20)
SHAREHOLDERS' EQUITY Ìý Ìý
Common Shares - par value $0.125 per share, Authorized - 600,000,000 shares (2019 - 600,000,000 shares); Issued - 428,645,866 shares (2019 - 301,886,794 shares); Outstanding - 398,587,083 shares (2019 - 270,084,005 shares) 53.6 37.7
Capital in excess of par value of shares 4,450.2 3,872.1
Retained deficit (2,918.5) (2,842.4)
Cost of 30,058,783 common shares in treasury (2019 - 31,802,789 shares) (365.0) (390.7)
Accumulated other comprehensive loss (317.1) (318.8)
Total Cliffs shareholders' equity 903.2 357.9
Noncontrolling interest 327.8 0.0
TOTAL EQUITY 1,231.0 357.9
TOTAL LIABILITIES AND EQUITY $ 8,912.3 $ 3,503.8