Cleveland-Cliffs Inc. (CLF) Financial Statements

Income statement

Metric	TTM	2025	2024	2023	2022
Revenue
Total Revenue	19.2B	18.6B	19.2B	22.0B	23.0B
Cost of Revenue	19.3B	19.4B	19.1B	20.6B	20.5B
Gross Profit	(124.0M)	(763.0M)	70.0M	1.4B	2.5B
Operating Expenses
R&D Expense	—	—	—	—	—
SG&A Expense	553.0M	543.0M	486.0M	577.0M	465.0M
General & Admin Expense	—	—	—	—	—
Selling & Marketing Expense	—	—	—	—	—
Other Expenses	14.0M	50.0M	340.0M	137.0M	110.0M
Total Operating Expenses	567.0M	593.0M	826.0M	714.0M	575.0M
Cost and Expenses	19.9B	20.0B	19.9B	21.3B	21.0B
Operating Income (EBIT)	(691.0M)	(1.4B)	(756.0M)	677.0M	1.9B
Non-Operating
Interest Income	—	—	—	—	—
Interest Expense	609.0M	594.0M	370.0M	289.0M	276.0M
Net Interest Income	(609.0M)	(594.0M)	(370.0M)	(289.0M)	(276.0M)
Other Non-Op Income/Expense	(516.0M)	(648.0M)	(187.0M)	(80.0M)	(143.0M)
Non-Operating Income (excl Interest)	(156.0M)	54.0M	(183.0M)	(209.0M)	(133.0M)
EBT (Pre-Tax Income)	(1.2B)	(2.0B)	(943.0M)	597.0M	1.8B
Income Tax Expense	(385.0M)	(581.0M)	(235.0M)	148.0M	423.0M
Bottom Line
Net Income	(876.0M)	(1.5B)	(754.0M)	399.0M	1.3B
Earnings from Cont. Ops	(822.0M)	(1.4B)	(708.0M)	449.0M	1.4B
Earnings from Discont. Ops	(10.0M)	(5.0M)	—	1.0M	3.0M
Bottom Line Net Income	(876.0M)	(1.5B)	(754.0M)	399.0M	1.3B
Per Share
Basic EPS	($1.67)	($3.00)	($1.57)	$0.78	$2.57
Diluted EPS	($1.67)	($3.00)	($1.57)	$0.78	$2.55
Revenue Per Share	$33.62	$37.81	$39.97	$43.13	$44.29
Shares
Basic Shares Outstanding	571.0M	492.2M	480.0M	510.0M	519.0M
Diluted Shares Outstanding	571.0M	492.2M	480.0M	511.0M	524.0M
Profitability Metrics
EBITDA	622.0M	(99.0M)	378.0M	1.9B	3.1B
D&A	1.2B	1.3B	951.0M	973.0M	1.0B
EBIT	(535.0M)	(1.4B)	(573.0M)	886.0M	2.1B

As reported, in the filing currency · TTM sums the four latest quarters; MRQ is the latest quarter · Negatives in parentheses; a dash is a line the filing does not carry · Data as of Jun 1, 2026