CLEVELAND-CLIFFS INC. CLF Income Statement

Cleveland-cliffs inc. (CLF)

Income statement / TTM

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10	Sep'09	Jun'09	Sep'08	Jun'08
Revenues
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Realization of deferred revenue
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Operating costs:
Revenues
-	-	2,152	2,338	-	2,332	1,972	1,827	1,584	1,866	1,729	1,685	1,710	1,554	1,948	1,893	0	2,013	2,249	2,954	3,203	3,373	2,376	2,625	3,365	3,890	5,711	5,709	5,800	5,872	5,822	6,366	6,593	6,563	6,303	5,560	4,939	4,483	3,924	2,968	0	0	0	0	0
Cost of goods sold
1,644	1,414	1,501	1,580	1,530	1,522	1,296	1,254	1,151	1,398	1,258	1,287	1,365	1,274	1,685	1,658	0	1,776	1,671	2,303	2,427	2,487	1,246	1,273	1,929	2,406	4,618	4,766	4,682	4,700	4,452	4,351	4,289	3,953	3,712	3,335	3,031	3,025	2,779	2,312	0	0	0	0	0
Sales margin
-	-	650	757	-	809	676	572	432	467	471	398	345	280	262	234	0	236	577	650	776	885	1,130	1,351	1,436	1,484	1,093	943	1,118	1,172	1,370	2,015	2,303	2,610	2,591	2,225	1,908	1,458	1,145	656	0	0	0	0	0
Other operating income (expense):
Royalties and management fee revenue
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	0
Selling, general and administrative expenses
118	119	116	120	115	113	105	99	100	102	112	119	115	115	104	103	0	110	95	136	146	154	137	144	152	163	246	239	271	282	271	268	257	248	208	204	177	171	172	138	0	0	0	0	0
Exploration costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	95	130	146	142	118	99	88	80	69	53	42	33	0	0	0	-	-	-	-
Impairment of goodwill and other long-lived assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Acquisition-related costs
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-	-
Miscellaneous - net
-35	-27	-23	-22	-21	-22	5	6	7	25	-13	-27	-19	-33	-20	-1	0	24	120	70	68	34	-9	0	59	74	-18	12	-14	-6	33	110	73	67	47	-35	-26	-20	-3	32	0	0	0	0	0
Total operating costs
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on sale of other assets - net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	0
Casualty recoveries
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0
Total other operating expense
-	-	140	142	-	136	100	93	92	77	125	147	134	149	124	105	0	85	-7,159	701	713	755	7,885	123	85	104	1,409	1,406	1,481	1,480	389	293	325	314	250	311	246	225	195	113	0	0	0	0	0
Operating loss
351	429	510	614	642	673	576	479	340	390	345	251	211	130	138	129	0	151	7,737	-50	62	130	-6,754	1,228	1,351	1,380	-315	-463	-363	-308	980	1,721	1,977	2,296	2,340	1,913	1,661	1,232	950	542	0	0	0	0	0
Other income (expense):
Interest expense, net
-107	-101	-102	-106	-111	-118	-119	-117	-116	-126	-138	-159	-179	-193	-216	-229	-242	-228	-215	-200	-179	-176	-181	-179	-177	-186	-194	-195	-199	-195	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Gain on acquisition of controlling interests
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	40	0	0	0	-	-	-	-
Changes in fair value of foreign currency contracts, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	101	115	154	93	39	33	80	0	0	0	0	0
Gain (Loss) on Extinguishment of Debt
-	-	-	0	-	-	0	0	-	-165	-163	-92	-84	166	243	261	0	392	0	0	0	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	10	9	0	0	0	0	0
Interest expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	50	43	0	0	0	0	0
Other non-operating income
11	2	5	9	12	17	15	14	12	10	14	12	9	7	0	-1	0	-2	-1	5	9	10	9	1	-3	-3	-1	1	1	2	-5	-5	-0	-2	9	8	12	12	7	6	0	0	0	0	0
Total other expense
-114	-117	-122	-122	-105	-108	-103	-191	-197	-282	-286	-240	-254	-20	25	26	0	161	192	134	159	-149	-172	-178	-181	-189	-195	-193	-197	-193	-179	-190	-170	-106	-68	6	20	33	40	91	0	0	0	0	0
Loss from continuing operations before income taxes
237	312	388	492	536	564	472	287	142	108	58	11	-43	110	164	156	0	313	7,929	83	222	-19	-6,927	1,050	1,170	1,190	-511	-657	-561	-501	801	1,531	1,807	2,190	2,272	1,920	1,682	1,266	990	633	0	0	0	0	0
Income tax benefit
-30	17	-466	-470	-494	-475	-227	-235	-234	-252	-20	-20	-21	-12	-5	0	0	169	968	50	59	-86	-715	271	273	237	560	430	463	255	-123	-56	52	407	297	409	358	282	283	150	0	0	0	0	0
EQUITY LOSS FROM VENTURES, net of tax
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-9	-10	-1	-69	-74	-456	-470	-403	-404	-15	10	-0	9	7	0	19	13	-12	-41	0	0	0	0	0
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest
267	294	855	963	1,031	1,039	700	523	377	360	79	31	-22	122	169	155	0	143	6,961	24	153	56	-6,614	0	0	-	0	-	-	-1,162	909	1,598	1,754	1,792	1,919	0	0	-	0	-	-	-	-	-	-
Income from discontinued operations, net of tax
-1	-1	-16	222	159	88	127	-79	-68	2	54	21	74	76	-23	-64	38	-892	-9,020	-8,976	-9,156	-8,368	-214	0	0	-	0	-	-	35	43	29	26	20	-18	0	0	-	0	-	-	-	-	-	-
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest
0	-	-	-	0	-	-	-	-	363	134	53	52	199	124	217	0	-748	-2,058	-8,951	-9,002	-8,311	-6,957	43	170	361	-1,494	-1,530	-1,397	-1,126	952	1,627	1,780	1,812	1,988	1,532	1,365	1,019	694	441	0	0	0	0	0
Income attributable to noncontrolling interest
0	-	-	-	0	-	-	-	-	-3	-2	-3	14	25	16	13	2	0	-84	-1,087	-1,088	-1,087	-1,061	-57	-65	-51	-246	-250	-229	-227	177	202	0	-	0	0	-	-	-	0	-	0	0	0	0
Net Income (Loss) Attributable to Parent
-	-	0	0	-	-	0	0	0	-	136	57	38	-	105	191	0	-749	-1,974	-7,864	-7,913	-7,224	-5,895	101	236	413	-1,248	-1,280	-1,168	-899	904	1,420	1,571	1,619	1,818	1,514	1,365	1,019	694	442	0	0	0	0	0
PREFERRED STOCK DIVIDENDS
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	38	51	38	51	51	51	51	51	48	35	22	9	0	0	0	0	-	-	-	-	-	-	-	-	-	-	0	0
Net loss attributable to Cliffs shareholders
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-787	-2,025	-7,902	-7,964	-7,275	-5,947	49	184	364	-1,283	-1,303	-1,178	-899	0	0	0	-	-	-	-	-	-	-	-	-	-	0	0
Earnings Per Share, Basic [Abstract]
Earnings Per Share [Abstract]
Continuing operations (in dollars per share)
-0.18	0.22	0.34	0.59	-0.08	2.11	0.67	0.77	-0.05	1.02	0.08	0.28	-0.11	-0.08	-0.11	0.07	0.61	-0.30	0.19	-0.28	1.02	37.49	-38.49	0.49	0.37	-	0.67	-	-	-11.58	0.62	1.79	2.60	1.05	4.29	2.95	3.12	-	2.20	-	-	-	-	-	-
Discontinued operations (in dollars per share)
0.00	-0.01	0.00	0.00	0.00	-0.04	0.80	-0.22	-0.24	0.09	0.10	-0.18	0.00	0.39	-0.01	0.00	0.01	-0.09	-0.29	0.67	-6.06	-45.96	0.00	-0.50	-0.92	-	0.01	-	-	0.21	-0.02	0.02	0.04	-	-0.12	-0.01	-	-	-	-	-	-	-	-	-
Earnings Per Share, Basic
-0.18	0.21	0.34	0.59	-0.08	2.07	1.47	0.55	-0.29	1.11	0.18	0.10	-0.11	0.31	-0.12	0.07	0.62	-0.39	-0.10	0.39	-5.04	-8.47	-38.49	-0.01	-0.55	0.19	0.68	0.87	0.66	-11.37	0.60	1.81	2.64	1.32	4.17	2.94	3.12	2.84	2.20	1.93	0.57	0.45	0.36	1.67	2.75
Earnings Per Share, Diluted [Abstract]
Continuing operations (in dollars per share)
-0.18	0.22	0.33	0.57	-0.08	2.07	0.64	0.76	-0.05	1.00	0.08	0.28	-0.11	-0.08	-0.11	0.07	0.61	-0.22	0.19	-0.28	0.94	37.50	-38.49	0.48	0.37	-	0.65	-	-	-11.56	0.61	1.79	2.59	1.03	4.27	2.93	3.11	-	2.19	-	-	-	-	-	-
Discontinued operations (in dollars per share)
0.00	-0.01	0.00	0.00	0.00	-0.03	0.77	-0.21	-0.24	0.09	0.10	-0.18	0.00	0.38	-0.01	0.00	0.01	-0.94	-0.29	0.67	-5.20	-45.97	0.00	-0.50	-0.91	-	0.01	-	-	0.21	-0.02	0.02	0.04	-	-0.12	-0.01	-	-	-0.01	-	-	-	-	-	-
Earnings Per Share, Diluted
-0.18	0.21	0.33	0.57	-0.08	2.04	1.41	0.55	-0.29	1.09	0.18	0.10	-0.11	0.30	-0.12	0.07	0.62	-1.16	-0.10	0.39	-4.26	-8.47	-38.49	-0.02	-0.54	0.23	0.66	0.82	0.66	-11.35	0.59	1.81	2.63	1.30	4.15	2.92	3.11	2.82	2.18	1.92	0.57	0.45	0.36	1.61	2.57
Average number of shares (in thousands)
Basic
297	271	270	275	289	296	297	297	297	296	296	296	265	230	206	182	171	153	153	153	153	153	153	153	153	153	153	153	147	142	142	142	142	142	144	139	135	135	135	135	135	130	125	104	98
Weighted Average Number of Shares Outstanding, Diluted
297	286	276	285	289	307	310	301	297	305	301	300	265	237	206	184	172	129	153	153	178	151	153	153	153	192	178	178	148	140	142	142	142	143	144	139	136	136	136	136	135	131	125	108	105
CASH DIVIDENDS DECLARED PER COMMON SHARE
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.15	0.15	-	0.15	0.15	0.15	0.15	-	0.63	0.63	0.28	0.28	0.28	0.14	0.14	0.14	0.14	0.14	0.08	0.04	0.04	0.08	0.08
CASH DIVIDENDS DECLARED PER DEPOSITARY SHARE (in dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.88	0.00	0.44	-	0.44	0.44	-	0.44	0.44	0.44	0.34	-	0.00	0.00	0.00	-	-	-	-	-	-	-	-	-	-	-	-
Product [Member]
Revenues
-	-	2,004	2,173	-	-	1,810	1,656	1,401	-	1,503	1,481	1,516	1,379	1,779	1,725	0	1,832	2,045	2,693	2,935	3,095	2,149	2,413	3,108	3,631	5,353	5,346	5,454	5,520	5,509	6,131	6,336	6,321	6,052	5,268	4,680	4,218	3,744	2,810	0	0	0	0	0
Freight [Member]
Revenues
-	-	147	164	-	-	162	171	183	-	225	204	193	174	168	167	0	180	203	260	268	278	227	211	257	259	358	363	345	351	313	234	256	242	251	292	259	265	179	158	0	0	0	0	0