What is Cleveland-Cliffs's D&A?

Cleveland-Cliffs (CLF) reported D&A of $259M in Q1 2026.

How has Cleveland-Cliffs's D&A changed year-over-year?

Cleveland-Cliffs's D&A decreased by 8.2% year-over-year, from $282M to $259M.

What is the long-term trend for Cleveland-Cliffs's D&A?

Over 4 years (2021 to 2025), Cleveland-Cliffs's D&A has grown at a 8.3% compound annual growth rate (CAGR), from $897M to $1.24B.

Total non-cash depreciation of tangible assets and amortization of intangible assets — the largest add-back to net income in the operating cash flow reconciliation.

Cleveland-Cliffs CLF D&A

D&A at other companies

Commercial MetalsCMC

$102.57M+45.3%

Steel DynamicsSTLD

$159.28M+19.1%

RelianceRS

$69.2M+0.7%

AlcoaAA

$162M+9.5%

MP MaterialsMP

$32.14M+50.3%

Eagle MaterialsEXP

——

Segments

By segment

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Steelmaking$251M-8.4%

Other Businesses$8M0.0%

Eliminations$0—

Other financials

Income statement

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Revenue$4.9B+6.3%

Gross profit-$82.0M+79.3%

Operating income-$213.0M+60.8%

Net income-$229.0M+52.9%

EPS (diluted)-$0.42+58.4%

Balance sheet

See full

Cash & equivalents$45.0M-21.1%

Total debt$7.8B+2.1%

Total equity$5.8B-6.9%

Total assets$20.1B-3.5%

Cash flow

See full

Operating cash flow-$325.0M+7.4%

CapEx$152.0M0.0%

Free cash flow-$477.0M+5.2%

Valuation

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Market cap$7B+18.6%

Enterprise value$14.72B+8.0%

P/S0.4×+0.1×

Profitability

See full

Gross margin-2.9%—

Operating margin-6.6%-0.2pp

Net margin-6.2%0.0pp

FCF margin-5.3%-0.3pp

Returns & leverage

See full

Return on equity-19.3%+3.1pp

Debt / equity1.3×+0.1×

Current ratio2×-0.1×

Where this comes from

Reported directly by Cleveland-Cliffs in its filing.

Tagged under the XBRL concept us-gaap:DepreciationDepletionAndAmortization.

The official record: Cleveland-Cliffs’s 10-Q, filed April 21, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Cleveland-Cliffs's D&A?: Cleveland-Cliffs (CLF) reported D&A of $259M in Q1 2026.
How has Cleveland-Cliffs's D&A changed year-over-year?: Cleveland-Cliffs's D&A decreased by 8.2% year-over-year, from $282M to $259M.
What is the long-term trend for Cleveland-Cliffs's D&A?: Over 4 years (2021 to 2025), Cleveland-Cliffs's D&A has grown at a 8.3% compound annual growth rate (CAGR), from $897M to $1.24B.
What does D&A mean?: Total non-cash depreciation of tangible assets and amortization of intangible assets — the largest add-back to net income in the operating cash flow reconciliation.