CLF Cash Flow Breakdown | CLEVELAND-CLIFFS INC.

CLEVELAND-CLIFFS INC. Cash Flow Breakdown

Cash flow breakdown shows where CLEVELAND-CLIFFS INC.'s cash came from and where it went: from running the business, from investing (buying or selling equipment, companies and investments) and from financing (borrowing, paying back loans, buying back shares, paying dividends). One row per year or quarter. A minus sign means cash went out. Financing is shown line by line: buybacks, dividends, debt paid back, new debt and the rest. All amounts are the filed figures for that period.

Fiscal year ended 2025-12-31: from running the business, $462.00M went out.
Fiscal year ended 2025-12-31: from investing, $479.00M went out.
Fiscal year ended 2025-12-31: from financing, $942.00M came in.
Fiscal year ended 2025-12-31: change in cash, $1.00M came in.

A minus sign means cash went out. * = worked out from the filed year-to-date figures (hover to see how); greyed = already counted inside another line.

Each year (12 month)

Fiscal year end	Running the business	From investing	Buybacks	Dividends	Debt paid back	New debt	Commercial paper	New shares sold	Other	Not split out	Change in cash
2025-12-31	-$462.00M	-$479.00M	$0.00		-$685.00M	$1.98B		$951.00M	-$168.00M	-$1.14B*	$1.00M
2024-12-31	$105.00M	-$3.21B	-$733.00M		-$845.00M	$3.22B		$0.00	-$124.00M	$1.45B*	-$137.00M
2023-12-31	$2.27B	-$591.00M	-$152.00M		$0.00	$750.00M	-$1.86B*	$0.00	-$204.00M	-$34.00M*	$172.00M
2022-12-31	$2.42B	-$936.00M	-$240.00M		-$1.36B	$0.00	$255.00M*	$0.00	-$166.00M		-$22.00M
2021-12-31	$2.79B	-$1.38B	$0.00		-$1.37B	$1.00B	$73.00M*	$322.00M	-$130.00M	-$1.36B*	-$64.00M
2020-12-31	-$258.00M	-$2.04B	$0.00	-$41.00M	-$1.02B	$1.76B	$1.51B*	$0.00	-$115.00M	-$35.00M*	-$241.00M
2019-12-31	$568.00M	-$644.00M	-$253.00M		-$729.00M	$721.00M	$0.00*	$0.00	-$126.00M	-$7.00M*	-$470.00M
2018-12-31	$479.00M	-$273.00M	-$48.00M	$0.00	-$235.00M	$0.00	$0.00*	$0.00	-$91.00M	-$2.00M*	-$172.00M
2017-12-31	$338.10M	-$156.00M	$0.00	$0.00	-$1.72B	$1.77B		$661.30M	-$26.70M	-$186.50M*	$665.50M
2016-12-31	$303.00M	-$57.90M		$0.00		$0.00		$287.40M	-$27.70M	-$466.10M*	$73.50M
2015-12-31	$37.90M	-$103.20M		$0.00		$503.50M		$0.00	-$45.80M	-$396.70M*	-$5.70M
2014-12-31	$358.90M	-$103.60M		-$92.50M	$0.00	$0.00		$0.00	-$60.20M	-$135.60M*	-$44.60M
2013-12-31	$1.15B	-$811.30M	$0.00	-$91.90M	$0.00	$0.00		$285.30M	-$52.00M	-$313.30M*	$140.30M
2012-12-31	$514.50M	-$961.80M	$0.00	-$307.20M	$0.00	$497.00M	$0.00*	$0.00	-$28.10M*	-$42.10M*	-$326.40M
2011-12-31	$2.29B	-$5.30B	-$289.80M	-$118.90M	$0.00	$998.10M	$0.00*	$853.70M	-$43.50M*	$575.50M*	-$1.05B
2010-12-31	$1.32B	-$1.37B	$0.00	-$68.90M	-$200.00M	$1.39B	$0.00*	$0.00	-$11.60M*	-$20.00M*	$1.06B
2009-12-31	$185.70M	-$179.30M		-$31.90M		$0.00		$347.30M	-$1.20M*	-$9.90M*	$323.70M
2008-12-31	$853.20M	-$795.60M		-$36.10M		$325.00M		$0.00	$5.90M*	-$262.40M*	$21.90M
2007-12-31	$288.90M	-$745.40M		-$20.90M		$0.00		$0.00	$1.10M	$269.90M*	-$194.60M

Each quarter (3 month)

Quarter end	Running the business	From investing	Buybacks	Dividends	Debt paid back	New debt	Commercial paper	New shares sold	Other	Not split out	Change in cash
2026-06-30	$230.00M*	-$126.00M*				$0.00*			-$16.00M*	-$63.00M*
2026-03-31	-$325.00M	-$140.00M				$0.00			-$53.00M	$507.00M*	-$11.00M
2025-12-31	-$13.00M*	-$85.00M*	$0.00*		-$685.00M*	$283.00M*			-$60.00M*	$551.00M*
2025-09-30	-$143.00M*	-$138.00M*	$0.00*		$0.00*	$850.00M*			-$22.00M*	-$542.00M*
2025-06-30	$45.00M*	-$111.00M*	$0.00*		$0.00*	$0.00*			-$53.00M*	$121.00M*
2025-03-31	-$351.00M	-$145.00M	$0.00		$0.00	$850.00M			-$33.00M	-$318.00M*	$3.00M
2024-12-31	-$472.00M*	-$2.73B*	$0.00*		$0.00*	$1.80B*			-$48.00M*	$1.48B*
2024-09-30	-$84.00M*	-$146.00M*	$0.00*		$0.00*	$596.00M*			-$54.00M*	-$383.00M*
2024-06-30	$519.00M*	-$152.00M*	-$125.00M*		-$193.00M*	$0.00*			$3.00M*	$28.00M*
2024-03-31	$142.00M	-$179.00M	-$608.00M		-$652.00M	$825.00M			-$25.00M	$329.00M*	-$168.00M
2023-12-31	$652.00M*	-$121.00M*	$0.00*		$0.00*	$0.00*	-$325.00M*		-$39.00M*
2023-09-30	$767.00M*	-$160.00M*	-$58.00M*		$0.00*	$0.00*	-$508.00M*		-$44.00M*
2023-06-30	$887.00M*	-$125.00M*	-$94.00M*		$0.00*	$750.00M*	-$1.34B*		-$71.00M*	-$34.00M*
2023-03-31	-$39.00M	-$185.00M	$0.00		$0.00	$0.00	$307.00M*		-$50.00M		$33.00M
2022-12-31	$489.00M*	-$209.00M*	-$30.00M*		-$3.00M*	$0.00*	-$226.00M*	$0.00*	-$51.00M*
2022-09-30	$536.00M*	-$260.00M*	-$34.00M*		-$36.00M*	$0.00*	-$155.00M*	$0.00*	-$42.00M*
2022-06-30	$865.00M*	-$232.00M*	-$157.00M*		-$959.00M*	$0.00*	$530.00M*	$0.00*	-$35.00M*
2022-03-31	$533.00M	-$235.00M	-$19.00M		-$360.00M	$0.00	$106.00M*	$0.00	-$38.00M		-$13.00M
2021-12-31	$1.14B*	-$965.00M*	$0.00*		-$26.00M*	$0.00*	-$120.00M*	$0.00*	$0.00*	-$20.00M*
2021-09-30	$1.52B*	-$172.00M*	$0.00*		-$7.00M*	$0.00*	$3.00M*	$0.00*	-$28.00M*	-$1.34B*
2021-06-30	$511.00M*	-$107.00M*	$0.00*		-$437.00M*	$0.00*	$42.00M*	$0.00*	-$46.00M*
2021-03-31	-$379.00M	-$135.00M	$0.00		-$902.00M	$1.00B	$148.00M*	$322.00M	-$56.00M		-$2.00M
2020-12-31	-$207.00M*	-$802.00M*	$0.00*	-$200.00K*	-$23.00M*	$0.00*	$1.11B*	$0.00*	-$61.00M*	$39.20M*
2020-09-30	$247.00M*	-$88.00M*	$0.00*	$0.00*	$0.00*	$0.00*	-$150.00M*	$0.00*	$25.00M*	-$52.00M*
2020-06-30	-$134.00M*	-$145.00M*	$0.00*	-$23.90M*	-$570.00M*	$1.05B*	-$250.00M*	$0.00*	-$42.00M*	$4.90M*
2020-03-31	-$164.00M	-$1.01B	$0.00	-$16.90M	-$430.00M	$716.00M	$800.00M*	$0.00	-$37.00M	-$27.10M*	-$166.00M
2019-12-31	$179.90M*	-$194.50M*	-$100.00K*	-$26.90M*	$300.00K*	$100.00K*	$0.00*		-$72.30M*	$71.80M*	-$46.70M*
2019-09-30	$237.00M*	-$157.10M*	$0.00*	-$16.20M*	$0.00*	$0.00*	$0.00*		-$42.80M*		$22.10M*
2019-06-30	$262.30M*	-$166.80M*	-$128.60M*	-$14.10M*	-$719.00M*	$720.90M*	$0.00*		-$2.50M*	-$6.80M*	-$53.00M*
2019-03-31	-$111.20M	-$125.60M	-$124.30M	-$14.80M	-$10.30M	$0.00	$0.00		-$8.40M		-$393.00M
2018-12-31	$290.30M*	-$99.30M*	-$48.00M*	$0.00*	-$218.70M*	$0.00*		$0.00*	-$45.30M*	$43.70M*	-$73.90M*
2018-09-30	$238.00M*	-$73.90M*	$0.00*	$0.00*	-$1.00M*	$0.00*		$0.00*	-$36.80M*	-$44.20M*	$94.60M*
2018-06-30	$93.60M*	-$28.40M*	$0.00*	$0.00*		$0.00*		$0.00*	-$1.90M*	-$16.80M*	$45.30M*
2018-03-31	-$142.90M	-$71.40M	$0.00	$0.00		$0.00		$0.00	-$7.00M		-$221.10M
2017-12-31	$131.40M*	-$71.60M*				$713.70M*		$0.00*	-$9.70M*	-$16.50M*	$751.20M*
2017-09-30	$138.90M*	-$36.10M*				$557.80M*		$0.00*	-$3.10M*	-$719.50M*	-$43.30M*
2017-06-30	$92.90M*	-$20.90M*				$0.00*		$0.00*	-$8.30M*	-$38.50M*	-$14.30M*
2017-03-31	-$25.10M	-$27.40M				$500.00M		$661.30M	-$5.60M	-$1.13B*	-$28.10M
2016-12-31	$230.90M*	-$18.40M*				$0.00*		-$200.00K*	-$8.40M*	-$11.80M*	$226.50M*
2016-09-30	$91.40M*	-$25.20M*				$0.00*		$287.60M*	-$5.70M*	-$325.40M*	$24.00M*
2016-06-30	$107.20M*	-$9.40M*				$0.00*		$0.00*	-$9.40M*	-$39.70M*	$48.30M*
2016-03-31	-$126.50M	-$4.90M				$0.00		$0.00	-$4.20M	-$89.20M*	-$225.30M
2015-12-31	$97.40M*	-$46.00M*		$0.00*		$0.00*		$0.00*	-$7.00M*	-$30.20M*	$15.00M*
2015-09-30	$188.70M*	-$23.20M*		$0.00*		$0.00*			-$15.20M*	-$155.00M*	-$6.00M*
2015-06-30	-$20.00M*	-$18.30M*		$0.00*		$0.00*			-$9.30M*	-$32.30M*	-$79.50M*
2015-03-31	-$228.20M	-$15.70M		$0.00		$503.50M			-$14.30M	-$179.20M*	$64.80M
2014-12-31	$254.90M*	$104.30M*		-$23.00M*		$0.00*		$0.00*	$10.10M*	-$292.80M*	$46.90M*
2014-09-30	$227.90M*	-$59.60M*		-$23.50M*		$0.00*		$0.00*	-$17.80M*	-$232.00M*	-$115.90M*
2014-06-30	-$41.90M*	-$57.60M*		-$23.00M*		$0.00*		$0.00*	-$61.20M*	$177.00M*	-$4.10M*
2014-03-31	-$82.00M	-$90.70M		-$23.00M		$0.00		$0.00	$8.70M	$212.20M*	$28.50M
2013-12-31	$460.00M*	-$76.90M*		-$23.10M*		$102.70M*		$0.00*	-$103.20M*	-$310.30M*	$36.70M*
2013-09-30	$297.00M*	-$234.10M*		-$22.80M*				$0.00*	$64.50M*	-$73.00M*	$35.50M*
2013-06-30	$414.30M*	-$271.90M*		-$23.10M*				-$300.00K*	-$9.20M*	-$120.00M*	-$23.90M*
2013-03-31	-$25.40M	-$228.40M		-$22.90M				$285.60M	-$4.10M	$87.30M*	$92.00M
2012-12-31	$239.00M*	-$177.10M*	$0.00*	-$89.40M*		$497.00M*	$0.00*	$0.00*	-$16.90M*	-$298.30M*	$155.70M*
2012-09-30	$308.30M*	-$263.80M*		-$89.00M*				$0.00*	-$12.80M*	-$62.60M*	-$119.70M*
2012-06-30	$96.20M*	-$268.90M*		-$89.10M*				$0.00*	-$12.10M*	$314.00M*	$36.90M*
2012-03-31	-$129.00M	-$252.00M		-$39.70M				$0.00	$1.00M	$17.50M*	-$399.30M
2011-12-31	$743.10M*	-$385.80M*	-$67.90M*	-$40.10M*		$0.00*	$0.00*	$0.00*	-$20.90M*	-$262.60M*	-$23.50M*
2011-09-30	$820.70M*	-$197.80M*		-$40.80M*		$0.00*	$0.00*		-$10.60M*	-$241.40M*	$307.00M*
2011-06-30	$618.10M*	-$4.68B*		-$19.00M*		$298.80M*		$853.70M	-$9.70M*	$908.20M*	-$2.03B*
2011-03-31	$106.90M	-$37.40M		-$19.00M		$699.30M			-$6.80M	-$46.10M*	$701.00M
2010-12-31	$689.00M*	-$75.10M*		-$19.00M*		$100.00K*			$10.60M*	-$16.70M*	$597.30M*
2010-09-30	$395.30M*	-$935.40M*		-$19.10M*		$992.90M*			-$8.90M*		$441.90M*
2010-06-30	$161.70M*	-$155.00M*		-$19.00M*		$0.00*			-$7.50M*		-$22.90M*
2010-03-31	$74.00M	-$202.20M		-$11.80M	-$200.00M	$395.10M			-$9.10M		$47.70M
2009-12-31	$191.10M*	-$29.70M*		-$11.50M*		$0.00*		$0.00*	$100.00K*	-$8.60M*	$142.80M*
2009-09-30	$154.90M*	-$69.60M*		-$5.20M*		$0.00*		-$200.00K*	-$1.50M*	$4.10M*	$85.30M*
2008-12-31	$271.00M*	-$422.40M*		-$10.00M*		$0.00*		$0.00*	$5.90M*	-$16.70M*	-$209.30M*
2008-09-30	$499.30M*	-$216.00M*		-$9.20M*		$0.00*		$0.00*		-$162.70M*	$67.90M*

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