v3.24.0.1
Statements of Consolidated Financial Position - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Current assets:
Cash and cash equivalents $ 198 $ 26
Accounts receivable, net 1,840 1,960
Inventories 4,460 5,130
Other current assets 138 306
Total current assets 6,636 7,422
Non-current assets:
Property, plant and equipment, net 8,895 9,070
Goodwill 1,005 1,130
Pension and OPEB assets 329 356
Other non-current assets 672 777
TOTAL ASSETS 17,537 18,755
Current liabilities:
Accounts payable 2,099 2,186
Accrued employment costs 511 429
Accrued expenses 380 383
Other current liabilities 518 551
Total current liabilities 3,508 3,549
Non-current liabilities:
Long-term debt 3,137 4,249
Pension and OPEB liabilities 821 1,058
Deferred income taxes 639 590
Other non-current liabilities 1,310 1,267
TOTAL LIABILITIES 9,415 10,713
Commitments and contingencies (See NOTE 20)
Equity:
Common Shares - par value $0.125 per share 66 66
Capital in excess of par value of shares 4,861 4,871
Retained earnings 1,733 1,334
Cost of 26,164,757 common shares in treasury (2022 - 17,710,751 shares) (430) (310)
Accumulated other comprehensive income 1,657 1,830
Total Cliffs shareholders' equity 7,887 7,791
Noncontrolling interests 235 251
TOTAL EQUITY 8,122 8,042
TOTAL LIABILITIES AND EQUITY $ 17,537 $ 18,755

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