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Quarterly report pursuant to Section 13 or 15(d)

Statements Of Unaudited Condensed Consolidated Financial Position

v3.23.1
Statements Of Unaudited Condensed Consolidated Financial Position - USD ($)
$ in Millions
Mar. 31, 2023
Dec. 31, 2022
Current assets: Ìý Ìý
Cash and cash equivalents $ 59 $ 26
Accounts receivable, net 2,216 1,960
Inventories 4,923 5,130
Other current assets 246 306
Total current assets 7,444 7,422
Non-current assets: Ìý Ìý
Property, plant and equipment, net 8,950 9,070
Goodwill 1,130 1,130
Pension and OPEB, asset 370 356
Other non-current assets 758 777
TOTAL ASSETS 18,652 18,755
Current liabilities: Ìý Ìý
Accounts payable 2,173 2,186
Accrued employment costs 388 429
Accrued expenses 271 383
Other current liabilities 628 551
Total current liabilities 3,460 3,549
Non-current liabilities: Ìý Ìý
Long-term debt 4,559 4,249
Pension liability, non-current 465 473
OPEB liability, non-current 572 585
Deferred income taxes 527 590
Other non-current liabilities 1,276 1,267
TOTAL LIABILITIES 10,859 10,713
Commitments and contingencies (See Note 17)
SHAREHOLDERS' EQUITY Ìý Ìý
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 - 515,052,745 shares (2022 - 513,340,779 shares) 66 66
Capital in excess of par value of shares 4,832 4,871
Retained earnings 1,277 1,334
Cost of 15,998,785 common shares in treasury (2022 - 17,710,751 shares) (280) (310)
Accumulated other comprehensive income 1,651 1,830
Total Cliffs shareholders' equity 7,546 7,791
Noncontrolling interest 247 251
TOTAL EQUITY 7,793 8,042
TOTAL LIABILITIES AND EQUITY $ 18,652 $ 18,755