Cleveland-Cliffs Inc. (CLF) quarterly balance sheet — complete assets, liabilities & equity history
Cleveland-Cliffs Inc. (CLF) balance sheet — 30-year assets, liabilities & shareholders' equity history
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 |
|---|
| Total Current Assets | 6.81B | 6.71B | 6.43B | 6.69B | 6.69B | 6.96B | 6.91B | 6.03B | 6.19B | 6.47B | 6.64B | 6.94B | 7.17B | 7.44B | 7.42B | 8.32B | 8.77B | 8.56B | 7.65B | 7.15B |
| Cash & Short-Term Investments | 70M | 45M | 57M | 66M | 61M | 57M | 54M | 39M | 110M | 30M | 198M | 31M | 34M | 59M | 26M | 56M | 47M | 35M | 48M | 42M |
| Cash Only | 70M | 45M | 57M | 66M | 61M | 57M | 54M | 39M | 110M | 30M | 198M | 31M | 34M | 59M | 26M | 56M | 47M | 35M | 48M | 42M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 2.04B | 1.88B | 1.44B | 1.8B | 1.78B | 1.8B | 1.58B | 1.58B | 1.77B | 1.87B | 1.84B | 2.12B | 2.29B | 2.22B | 1.96B | 2.3B | 2.57B | 2.67B | 2.15B | 2.35B |
| Days Sales Outstanding | 34.18 | 30.39 | 34.55 | 34.79 | 33.02 | 32.8 | 33.6 | 33.79 | 32.53 | 32.45 | 35.65 | 36.21 | 34.26 | 35.49 | 38.86 | 39.64 | 37.61 | 36.43 | 38.74 | 33.79 |
| Inventory | 4.53B | 4.59B | 4.77B | 4.68B | 4.7B | 4.89B | 5.09B | 4.24B | 4.2B | 4.45B | 4.46B | 4.59B | 4.73B | 4.92B | 5.13B | 5.54B | 5.78B | 5.56B | 5.19B | 4.5B |
| Days Inventory Outstanding | 82.44 | 84.2 | 96.57 | 90.29 | 84.8 | 89.46 | 93.34 | 83.03 | 79.81 | 82.49 | 84.22 | 83.64 | 82.22 | 87.06 | 96.18 | 98.21 | 96.39 | 102.79 | 109.5 | 95.56 |
| Other Current Assets | 175M | 192M | 164M | 143M | 144M | 223M | 183M | 169M | 110M | 122M | 138M | 196M | 114M | 246M | 306M | 426M | 366M | 295M | 263M | 251M |
| Total Non-Current Assets | 13.3B | 13.4B | 13.58B | 13.6B | 13.78B | 13.87B | 14.04B | 10.77B | 10.74B | 10.77B | 10.9B | 11.12B | 11.14B | 11.21B | 11.33B | 11.36B | 11.27B | 11.21B | 11.32B | 10.92B |
| Property, Plant & Equipment | 9.24B | 9.35B | 9.48B | 9.51B | 9.62B | 9.8B | 9.94B | 8.69B | 8.73B | 8.77B | 8.89B | 8.84B | 8.88B | 8.95B | 9.07B | 9.03B | 9.05B | 9.01B | 9.19B | 8.97B |
| Fixed Asset Turnover | 0.56x | 0.52x | 0.45x | 0.49x | 0.51x | 0.47x | 0.46x | 0.52x | 0.58x | 0.59x | 0.58x | 0.63x | 0.67x | 0.59x | 0.56x | 0.63x | 0.70x | 0.65x | 0.59x | 0.67x |
| Goodwill | 1.78B | 1.8B | 1.81B | 1.8B | 1.81B | 1.77B | 1.77B | 1B | 1B | 1B | 1B | 1.13B | 1.13B | 1.13B | 1.13B | 1.14B | 1.15B | 1.13B | 1.12B | 1.07B |
| Intangible Assets | 1.06B | 1.1B | 1.14B | 1.14B | 1.19B | 1.15B | 1.17B | 191M | 194M | 197M | 201M | 204M | 207M | 210M | 214M | 209M | 212M | 215M | 221M | 180M |
| Long-Term Investments | 135M | 137M | 142M | 143M | 151M | 156M | 140M | 118M | 119M | 122M | 124M | 135M | 138M | 145M | 163M | 188M | 178M | 155M | 128M | 116M |
| Other Non-Current Assets | 1.08B | 1.02B | 1B | 1.01B | 1.01B | 1B | 1.02B | 768M | 690M | 672M | 676M | 812M | 785M | 773M | 756M | 795M | 685M | 700M | 671M | 508M |
| Total Assets | 20.11B | 20.11B | 20.01B | 20.29B | 20.47B | 20.84B | 20.95B | 16.8B | 16.93B | 17.24B | 17.54B | 18.06B | 18.3B | 18.65B | 18.75B | 19.69B | 20.04B | 19.77B | 18.98B | 18.07B |
| Asset Turnover | 0.26x | 0.25x | 0.21x | 0.23x | 0.24x | 0.22x | 0.23x | 0.27x | 0.30x | 0.30x | 0.29x | 0.31x | 0.32x | 0.28x | 0.26x | 0.28x | 0.32x | 0.31x | 0.29x | 0.34x |
| Asset Growth % | -1.74% | -3.46% | -4.46% | 20.8% | 20.93% | 20.89% | 19.44% | -6.99% | -7.51% | -7.59% | -6.49% | -8.27% | -8.66% | -5.65% | -1.16% | 8.98% | 12.92% | 14.83% | 13.14% | 113.02% |
| Total Current Liabilities | 3.61B | 3.32B | 3.3B | 3.28B | 3.28B | 3.27B | 3.32B | 3.25B | 3.32B | 3.4B | 3.51B | 3.29B | 3.41B | 3.46B | 3.55B | 3.58B | 3.99B | 3.75B | 3.56B | 3.28B |
| Accounts Payable | 2.16B | 2.01B | 1.89B | 1.91B | 1.95B | 2.02B | 2.01B | 1.98B | 2.08B | 2.05B | 2.1B | 2.08B | 2.12B | 2.17B | 2.19B | 2.36B | 2.59B | 2.27B | 2.07B | 1.83B |
| Days Payables Outstanding | 37.71 | 35.11 | 38.88 | 37.16 | 35.1 | 36.11 | 39.93 | 40 | 38.13 | 38.43 | 38.85 | 37.63 | 36.54 | 37.75 | 40.98 | 42.97 | 41.33 | 41.54 | 44.07 | 37.99 |
| Short-Term Debt | 0 | 0 | 115M | 0 | 0 | 0 | 113M | 0 | 0 | 0 | 90M | 0 | 0 | 0 | 136M | 0 | 0 | 0 | 147M | 0 |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 25M | 0 |
| Other Current Liabilities | 938M | 855M | 777M | 801M | 809M | 803M | 754M | 859M | 807M | 896M | 808M | 751M | 837M | 899M | 798M | 740M | 857M | 939M | 731M | 708M |
| Current Ratio | 1.89x | 2.02x | 1.95x | 2.04x | 2.04x | 2.13x | 2.08x | 1.85x | 1.87x | 1.90x | 1.89x | 2.11x | 2.10x | 2.15x | 2.09x | 2.33x | 2.20x | 2.28x | 2.15x | 2.18x |
| Quick Ratio | 0.63x | 0.64x | 0.50x | 0.61x | 0.61x | 0.64x | 0.55x | 0.55x | 0.60x | 0.59x | 0.62x | 0.71x | 0.72x | 0.73x | 0.65x | 0.78x | 0.75x | 0.80x | 0.69x | 0.81x |
| Cash Conversion Cycle | 78.91 | 79.48 | 92.23 | 87.92 | 82.73 | 86.15 | 87.01 | 76.82 | 74.22 | 76.52 | 81.03 | 82.23 | 79.94 | 84.8 | 94.06 | 94.89 | 92.67 | 97.69 | 104.17 | 91.35 |
| Total Non-Current Liabilities | 10.69B | 10.77B | 10.39B | 11.3B | 11.15B | 11.09B | 10.73B | 6.45B | 6.24B | 6.4B | 5.91B | 6.5B | 6.85B | 7.4B | 7.16B | 8.85B | 9.08B | 9.41B | 9.64B | 10.5B |
| Long-Term Debt | 7.7B | 7.76B | 7.49B | 8.04B | 7.73B | 7.6B | 7.07B | 3.77B | 3.51B | 3.66B | 3.14B | 3.46B | 3.96B | 4.56B | 4.25B | 4.47B | 4.67B | 5.03B | 5.24B | 5.35B |
| Capital Lease Obligations | 0 | 0 | 569M | 0 | 0 | 0 | 594M | 0 | 0 | 0 | 363M | 0 | 0 | 0 | 317M | 0 | 0 | 0 | 414M | 0 |
| Deferred Tax Liabilities | 300M | 305M | 375M | 506M | 612M | 723M | 858M | 567M | 621M | 628M | 639M | 662M | 545M | 527M | 590M | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 2.69B | 2.71B | 1.96B | 2.76B | 2.81B | 2.76B | 2.21B | 2.1B | 2.11B | 2.11B | 1.77B | 2.38B | 2.34B | 2.31B | 2.01B | 4.37B | 4.41B | 4.38B | 3.99B | 5.15B |
| Total Liabilities | 14.3B | 14.1B | 13.69B | 14.58B | 14.43B | 14.35B | 14.05B | 9.7B | 9.56B | 9.79B | 9.41B | 9.79B | 10.26B | 10.86B | 10.71B | 12.43B | 13.06B | 13.16B | 13.2B | 13.78B |
| Total Debt | 7.7B | 7.76B | 8.17B | 8.04B | 7.73B | 7.6B | 7.77B | 3.77B | 3.51B | 3.66B | 3.59B | 3.46B | 3.96B | 4.56B | 4.7B | 4.47B | 4.67B | 5.03B | 5.8B | 5.35B |
| Net Debt | 7.63B | 7.72B | 8.11B | 7.97B | 7.67B | 7.54B | 7.72B | 3.73B | 3.4B | 3.63B | 3.39B | 3.43B | 3.93B | 4.5B | 4.68B | 4.42B | 4.62B | 4.99B | 5.75B | 5.31B |
| Debt / Equity | 1.32x | 1.29x | 1.29x | 1.41x | 1.28x | 1.17x | 1.13x | 0.53x | 0.48x | 0.49x | 0.44x | 0.42x | 0.49x | 0.59x | 0.58x | 0.62x | 0.67x | 0.76x | 1.00x | 1.25x |
| Debt / EBITDA | 27.91x | 149.29x | 314.27x | 71.78x | - | - | - | - | 14.99x | 19.08x | 26.59x | 6.02x | 5.43x | 21.61x | 73.47x | 10.55x | 4.28x | 3.60x | 4.28x | 2.83x |
| Net Debt / EBITDA | 27.66x | 148.42x | 312.08x | 71.19x | - | - | - | - | 14.52x | 18.93x | 25.13x | 5.97x | 5.38x | 21.33x | 73.06x | 10.42x | 4.24x | 3.58x | 4.25x | 2.81x |
| Interest Coverage | 0.43x | -1.07x | -1.89x | -1.02x | -3.15x | -3.50x | -3.22x | -2.00x | 0.91x | 0.05x | -0.71x | 5.33x | 6.80x | 0.25x | -1.62x | 3.73x | 13.91x | 15.22x | 15.08x | 20.94x |
| Total Equity | 5.82B | 6.02B | 6.32B | 5.71B | 6.04B | 6.48B | 6.9B | 7.09B | 7.37B | 7.44B | 8.12B | 8.26B | 8.04B | 7.79B | 8.04B | 7.27B | 6.99B | 6.61B | 5.77B | 4.29B |
| Equity Growth % | -3.71% | -7.17% | -8.32% | -19.56% | -18.04% | -12.87% | -15.08% | -14.15% | -8.35% | -4.5% | 0.99% | 13.7% | 15.01% | 17.93% | 39.28% | 69.42% | 63.45% | 91.15% | 87.53% | 281.77% |
| Book Value per Share | 10.19 | 10.67 | 12.85 | 11.60 | 12.13 | 13.10 | 14.20 | 15.16 | 15.55 | 15.13 | 16.09 | 16.24 | 15.65 | 15.13 | 15.67 | 14.00 | 13.30 | 12.42 | 10.93 | 7.84 |
| Total Shareholders' Equity | 5.6B | 5.82B | 6.12B | 5.47B | 5.82B | 6.25B | 6.66B | 6.85B | 7.11B | 7.2B | 7.89B | 8.02B | 7.8B | 7.55B | 7.79B | 7.01B | 6.73B | 6.34B | 5.49B | 4B |
| Common Stock | 76M | 76M | 76M | 66M | 66M | 66M | 66M | 66M | 66M | 66M | 66M | 66M | 66M | 66M | 66M | 66M | 66M | 66M | 63M | 63M |
| Retained Earnings | -911M | -766M | -529M | -286M | 1M | 484M | 979M | 1.43B | 1.67B | 1.67B | 1.73B | 1.89B | 1.62B | 1.28B | 1.33B | 1.55B | 1.4B | 800M | -1M | -894M |
| Treasury Stock | -643M | -645M | -659M | -660M | -660M | -664M | -676M | -1.15B | -1.15B | -1.03B | -430M | -431M | -372M | -280M | -310M | -280M | -246M | -90M | -82M | -83M |
| Accumulated OCI | 1.34B | 1.43B | 1.49B | 1.56B | 1.64B | 1.61B | 1.54B | 1.64B | 1.67B | 1.65B | 1.66B | 1.65B | 1.64B | 1.65B | 1.83B | 810M | 658M | 715M | 618M | 23M |
| Minority Interest | 214M | 197M | 207M | 241M | 223M | 230M | 233M | 241M | 262M | 241M | 235M | 244M | 242M | 247M | 251M | 260M | 265M | 269M | 284M | 294M |