Cleveland-Cliffs Inc
NYSE:CLF
Income Statement
Earnings Waterfall
Cleveland-Cliffs Inc
Revenue
|
21.9B
USD
|
Cost of Revenue
|
-20.3B
USD
|
Gross Profit
|
1.6B
USD
|
Operating Expenses
|
-630m
USD
|
Operating Income
|
947m
USD
|
Other Expenses
|
-558m
USD
|
Net Income
|
389m
USD
|
Income Statement
Cleveland-Cliffs Inc
Mar-2014 | Jun-2014 | Sep-2014 | Dec-2014 | Mar-2015 | Jun-2015 | Sep-2015 | Dec-2015 | Mar-2016 | Jun-2016 | Sep-2016 | Dec-2016 | Mar-2017 | Jun-2017 | Sep-2017 | Dec-2017 | Mar-2018 | Jun-2018 | Sep-2018 | Dec-2018 | Mar-2019 | Jun-2019 | Sep-2019 | Dec-2019 | Mar-2020 | Jun-2020 | Sep-2020 | Dec-2020 | Mar-2021 | Jun-2021 | Sep-2021 | Dec-2021 | Mar-2022 | Jun-2022 | Sep-2022 | Dec-2022 | Mar-2023 | Jun-2023 | Sep-2023 | Dec-2023 | Mar-2024 | ||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue | ||||||||||||||||||||||||||||||||||||||||||
Revenue |
3 366
N/A
|
2 625
-22%
|
2 058
-22%
|
3 373
+64%
|
3 204
-5%
|
2 954
-8%
|
2 568
-13%
|
2 013
-22%
|
1 873
-7%
|
1 871
0%
|
1 831
-2%
|
1 555
-15%
|
2 090
+34%
|
2 065
-1%
|
2 108
+2%
|
1 866
-11%
|
1 760
-6%
|
2 003
+14%
|
2 148
+7%
|
2 332
+9%
|
2 309
-1%
|
2 338
+1%
|
2 152
-8%
|
1 990
-8%
|
2 192
+10%
|
2 542
+16%
|
3 632
+43%
|
5 354
+47%
|
9 044
+69%
|
12 996
+44%
|
17 354
+34%
|
20 444
+18%
|
22 350
+9%
|
23 642
+6%
|
23 291
-1%
|
22 989
-1%
|
22 329
-3%
|
21 976
-2%
|
21 928
0%
|
21 996
+0%
|
21 900
0%
|
|
Gross Profit | ||||||||||||||||||||||||||||||||||||||||||
Cost of Revenue |
(1 929)
|
(1 270)
|
(794)
|
(2 488)
|
(2 422)
|
(2 301)
|
(2 117)
|
(1 777)
|
(1 685)
|
(1 646)
|
(1 576)
|
(1 265)
|
(1 675)
|
(1 600)
|
(1 572)
|
(1 393)
|
(1 277)
|
(1 380)
|
(1 422)
|
(1 522)
|
(1 529)
|
(1 580)
|
(1 500)
|
(1 414)
|
(1 638)
|
(2 197)
|
(3 268)
|
(4 877)
|
(8 272)
|
(11 082)
|
(13 838)
|
(15 910)
|
(16 855)
|
(18 363)
|
(19 439)
|
(20 471)
|
(20 961)
|
(20 945)
|
(20 765)
|
(20 605)
|
(20 323)
|
|
Gross Profit |
1 437
N/A
|
1 355
-6%
|
1 264
-7%
|
886
-30%
|
782
-12%
|
653
-16%
|
451
-31%
|
237
-47%
|
188
-21%
|
225
+20%
|
255
+13%
|
289
+13%
|
415
+44%
|
465
+12%
|
537
+15%
|
473
-12%
|
483
+2%
|
622
+29%
|
726
+17%
|
811
+12%
|
780
-4%
|
759
-3%
|
652
-14%
|
576
-12%
|
554
-4%
|
345
-38%
|
364
+5%
|
477
+31%
|
772
+62%
|
1 915
+148%
|
3 516
+84%
|
4 534
+29%
|
5 495
+21%
|
5 279
-4%
|
3 852
-27%
|
2 518
-35%
|
1 368
-46%
|
1 031
-25%
|
1 163
+13%
|
1 391
+20%
|
1 577
+13%
|
|
Operating Income | ||||||||||||||||||||||||||||||||||||||||||
Operating Expenses |
(74)
|
(109)
|
(34)
|
(120)
|
(91)
|
(82)
|
(61)
|
(82)
|
(110)
|
(98)
|
(120)
|
(136)
|
(138)
|
(148)
|
(125)
|
(97)
|
(97)
|
(97)
|
(104)
|
(135)
|
(145)
|
(143)
|
(141)
|
(139)
|
(154)
|
(199)
|
(241)
|
(304)
|
(363)
|
(416)
|
(463)
|
(502)
|
(559)
|
(571)
|
(610)
|
(575)
|
(550)
|
(570)
|
(564)
|
(605)
|
(630)
|
|
Selling, General & Administrative |
(153)
|
(145)
|
(124)
|
(155)
|
(143)
|
(133)
|
(106)
|
(110)
|
(109)
|
(101)
|
(110)
|
(116)
|
(115)
|
(119)
|
(112)
|
(103)
|
(103)
|
(103)
|
(109)
|
(117)
|
(120)
|
(124)
|
(120)
|
(119)
|
(118)
|
(147)
|
(179)
|
(236)
|
(302)
|
(344)
|
(396)
|
(412)
|
(438)
|
(440)
|
(452)
|
(452)
|
(457)
|
(499)
|
(519)
|
(564)
|
(569)
|
|
Research & Development |
(27)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Depreciation & Amortization |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(1)
|
(4)
|
(6)
|
(8)
|
(10)
|
(10)
|
(10)
|
(10)
|
(11)
|
(12)
|
(12)
|
(13)
|
(13)
|
(13)
|
(13)
|
(13)
|
(13)
|
|
Other Operating Expenses |
106
|
36
|
90
|
35
|
52
|
52
|
45
|
28
|
(0)
|
3
|
(11)
|
(20)
|
(24)
|
(29)
|
(13)
|
7
|
6
|
6
|
5
|
(19)
|
(25)
|
(18)
|
(21)
|
(19)
|
(35)
|
(48)
|
(56)
|
(60)
|
(51)
|
(63)
|
(58)
|
(80)
|
(110)
|
(119)
|
(146)
|
(110)
|
(80)
|
(58)
|
(32)
|
(28)
|
(48)
|
|
Operating Income |
1 363
N/A
|
1 246
-9%
|
1 230
-1%
|
765
-38%
|
690
-10%
|
572
-17%
|
390
-32%
|
154
-61%
|
79
-49%
|
127
+61%
|
135
+6%
|
154
+14%
|
277
+80%
|
317
+15%
|
412
+30%
|
376
-9%
|
386
+3%
|
525
+36%
|
622
+18%
|
675
+8%
|
635
-6%
|
616
-3%
|
511
-17%
|
437
-14%
|
400
-9%
|
146
-63%
|
123
-16%
|
173
+41%
|
409
+137%
|
1 498
+266%
|
3 053
+104%
|
4 032
+32%
|
4 936
+22%
|
4 708
-5%
|
3 242
-31%
|
1 943
-40%
|
818
-58%
|
461
-44%
|
599
+30%
|
786
+31%
|
947
+20%
|
|
Pre-Tax Income | ||||||||||||||||||||||||||||||||||||||||||
Interest Income Expense |
(190)
|
(200)
|
(175)
|
(177)
|
(181)
|
(199)
|
(239)
|
(229)
|
(247)
|
(229)
|
(218)
|
(212)
|
(187)
|
(166)
|
(146)
|
(113)
|
(117)
|
(118)
|
(119)
|
(120)
|
(112)
|
(107)
|
(102)
|
(101)
|
(113)
|
(150)
|
(193)
|
(238)
|
(299)
|
(315)
|
(328)
|
(337)
|
(322)
|
(301)
|
(284)
|
(276)
|
(276)
|
(291)
|
(297)
|
(289)
|
(276)
|
|
Non-Reccuring Items |
0
|
0
|
(377)
|
(619)
|
(304)
|
(304)
|
152
|
390
|
258
|
262
|
164
|
161
|
(84)
|
(93)
|
(163)
|
(165)
|
(94)
|
(88)
|
(1)
|
(8)
|
0
|
(26)
|
(25)
|
(26)
|
(57)
|
(97)
|
(158)
|
(185)
|
(235)
|
(200)
|
(143)
|
(108)
|
(43)
|
(86)
|
(78)
|
(79)
|
(65)
|
1
|
(3)
|
(109)
|
(298)
|
|
Total Other Income |
(2)
|
4
|
13
|
11
|
17
|
15
|
8
|
(3)
|
3
|
2
|
1
|
7
|
3
|
5
|
8
|
10
|
12
|
14
|
16
|
17
|
13
|
9
|
5
|
2
|
8
|
23
|
32
|
57
|
98
|
133
|
170
|
216
|
216
|
213
|
214
|
208
|
213
|
220
|
220
|
209
|
219
|
|
Pre-Tax Income |
1 170
N/A
|
1 051
-10%
|
692
-34%
|
(20)
N/A
|
223
N/A
|
84
-62%
|
311
+271%
|
313
+1%
|
93
-70%
|
161
+73%
|
82
-49%
|
110
+34%
|
8
-93%
|
63
+704%
|
110
+75%
|
108
-2%
|
188
+74%
|
333
+77%
|
518
+56%
|
565
+9%
|
537
-5%
|
492
-8%
|
389
-21%
|
312
-20%
|
237
-24%
|
(79)
N/A
|
(195)
-149%
|
(193)
+1%
|
(26)
+86%
|
1 116
N/A
|
2 751
+147%
|
3 803
+38%
|
4 787
+26%
|
4 534
-5%
|
3 094
-32%
|
1 796
-42%
|
690
-62%
|
391
-43%
|
519
+33%
|
597
+15%
|
592
-1%
|
|
Net Income | ||||||||||||||||||||||||||||||||||||||||||
Tax Provision |
(273)
|
(272)
|
(290)
|
86
|
(60)
|
(50)
|
37
|
(169)
|
(2)
|
(1)
|
2
|
12
|
19
|
18
|
18
|
252
|
238
|
239
|
231
|
475
|
495
|
471
|
467
|
(18)
|
30
|
77
|
104
|
111
|
51
|
(190)
|
(547)
|
(773)
|
(1 001)
|
(942)
|
(618)
|
(423)
|
(173)
|
(118)
|
(137)
|
(148)
|
(153)
|
|
Income from Continuing Operations |
897
|
779
|
402
|
66
|
163
|
34
|
349
|
144
|
91
|
159
|
84
|
123
|
26
|
80
|
128
|
361
|
426
|
571
|
749
|
1 040
|
1 031
|
963
|
855
|
295
|
267
|
(2)
|
(91)
|
(82)
|
24
|
926
|
2 205
|
3 030
|
3 786
|
3 592
|
2 476
|
1 373
|
517
|
273
|
382
|
449
|
439
|
|
Income to Minority Interest |
66
|
58
|
1 062
|
1 087
|
1 089
|
1 088
|
85
|
(1)
|
(12)
|
(23)
|
(26)
|
(25)
|
(15)
|
4
|
2
|
4
|
2
|
1
|
0
|
0
|
0
|
0
|
0
|
0
|
(4)
|
(19)
|
(31)
|
(41)
|
(54)
|
(53)
|
(49)
|
(45)
|
(42)
|
(32)
|
(37)
|
(41)
|
(43)
|
(47)
|
(45)
|
(51)
|
(50)
|
|
Equity Earnings Affiliates |
(69)
|
(2)
|
(10)
|
(10)
|
(10)
|
(9)
|
(0)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Net Income (Common) |
185
N/A
|
50
-73%
|
(5 947)
N/A
|
(7 275)
-22%
|
(7 965)
-9%
|
(7 903)
+1%
|
(2 025)
+74%
|
(788)
+61%
|
93
N/A
|
46
-51%
|
35
-24%
|
174
+401%
|
38
-78%
|
57
+50%
|
136
+139%
|
367
+169%
|
311
-15%
|
444
+43%
|
829
+87%
|
1 128
+36%
|
1 190
+6%
|
1 186
0%
|
839
-29%
|
293
-65%
|
263
-10%
|
(22)
N/A
|
(123)
-461%
|
(122)
+1%
|
(29)
+76%
|
875
N/A
|
2 159
+147%
|
2 988
+38%
|
3 748
+25%
|
3 564
-5%
|
2 442
-31%
|
1 335
-45%
|
477
-64%
|
228
-52%
|
340
+49%
|
399
+17%
|
389
-3%
|
|
EPS (Diluted) |
1.2
N/A
|
0.32
-73%
|
-38.84
N/A
|
-47.54
-22%
|
-51.99
-9%
|
-51.58
+1%
|
-13.22
+74%
|
-5.15
+61%
|
0.54
N/A
|
0.24
-56%
|
0.16
-33%
|
0.87
+444%
|
0.14
-84%
|
0.18
+29%
|
0.45
+150%
|
1.24
+176%
|
1.04
-16%
|
1.47
+41%
|
2.67
+82%
|
3.71
+39%
|
4.11
+11%
|
4.15
+1%
|
3.03
-27%
|
1.04
-66%
|
0.88
-15%
|
-0.05
N/A
|
-0.3
-500%
|
-0.32
-7%
|
-0.05
+84%
|
1.49
N/A
|
3.94
+164%
|
5.35
+36%
|
7.04
+32%
|
6.77
-4%
|
4.7
-31%
|
2.54
-46%
|
0.92
-64%
|
0.44
-52%
|
0.66
+50%
|
0.78
+18%
|
0.79
+1%
|