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Cleveland-Cliffs CLF Eliminations — Total Assets

Other segment segments

Steelmaking
$19.53B-1.6%
Other Businesses
$590M-5.3%

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Other financials

Income statement

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Revenue$5.2B+5.9%
Gross profit$132.0M+162%
Operating income-$49.0M+90.2%
Net income-$134.0M+71.7%
EPS (diluted)-$0.25+74.5%

Balance sheet

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Cash & equivalents$70.0M+14.8%
Total debt$7.7B-0.3%
Total equity$5.6B-3.7%
Total assets$20.1B-1.7%

Cash flow

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Operating cash flow-$325.0M+7.4%
CapEx$157.0M+40.2%
Free cash flow-$477.0M+5.2%

Valuation

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Market cap$7.22B+55.7%
Enterprise value$14.85B+20.7%
P/S0.4×+0.1×

Profitability

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Gross margin-1.1%
Operating margin-4.2%-1.5pp
Net margin-4.3%-1.5pp
FCF margin-5.3%-0.3pp

Returns & leverage

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Return on equity-14.6%-4.3pp
Debt / equity1.4×0.0×
Current ratio1.9×-0.2×

Where this comes from

Reported directly by Cleveland-Cliffs in its filing.

Tagged under the XBRL concept us-gaap:Assets.

The source filing: Cleveland-Cliffs’s 10-K, filed February 9, 2026.

Filed
Feb 9, 2026, 4:28 PM EST
Fiscal year
FY2025
Accession
0000764065-26-000025
(In millions)SteelmakingOther BusinessesEliminationsTotal
Amortization of inventory step-up6
Acquisition-related costs(1)
Other, net(18)
Net loss$(1,428)
Capital additions$670$10$680
Assets$19,416$596$20,012
1 Other segment items primarily consists of the exclusion of EBITDA of noncontrolling interests from Adjusted EBITDA and, to a lesser extent, the inclusion of items within Miscellaneous – net and Other non-operating income.
2 EBITDA of noncontrolling interests includes net income attributable to noncontrolling interests of $50 million and the exclusion of depreciation, depletion, and amortization of $26 million.

ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

FAQ

What is Cleveland-Cliffs's eliminations — total assets?
Cleveland-Cliffs (CLF) reported eliminations — total assets of $0 in Q4 2025.
What does eliminations — total assets mean?
This represents the elimination of intercompany receivables, payables, or other asset-related balances between business segments. It is necessary to ensure that the consolidated balance sheet reflects only assets held by the company in relation to external parties. This adjustment is fundamental for calculating accurate return on asset metrics.

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