Cleveland-Cliffs Inc. (CLF)

Solvency & Capital Structure

Total Debt

$7.70B

Net Debt

$7.63B

Cleveland-Cliffs Inc. currently has $7.70B in total debt. Net debt is $7.63B after cash offsets.

Financial Fundamentals

CLF • Quarterly Data • 5Y View

Date	Total Debt ($B)	Cash & Inv. ($B)	Net Debt ($B)	Total Assets	Debt/Assets
2026-06-30	7.70	0.07	7.63	20.11	38.3%
2026-03-31	7.76	0.04	7.72	20.11	38.6%
2025-12-31	8.17	0.06	8.11	20.01	40.8%
2025-09-30	8.04	0.07	7.97	20.29	39.6%
2025-06-30	7.73	0.06	7.67	20.47	37.7%
2025-03-31	7.60	0.06	7.54	20.84	36.5%
2024-12-31	7.77	0.05	7.72	20.95	37.1%
2024-09-30	3.77	0.04	3.73	16.80	22.5%
2024-06-30	3.51	0.11	3.40	16.93	20.7%
2024-03-31	3.66	0.03	3.63	17.24	21.3%
2023-12-31	3.59	0.20	3.39	17.54	20.5%
2023-09-30	3.46	0.03	3.43	18.06	19.1%
2023-06-30	3.96	0.03	3.93	18.30	21.7%
2023-03-31	4.56	0.06	4.50	18.65	24.4%
2022-12-31	4.70	0.03	4.68	18.75	25.1%
2022-09-30	4.47	0.06	4.42	19.69	22.7%
2022-06-30	4.67	0.05	4.62	20.04	23.3%
2022-03-31	5.03	0.04	4.99	19.77	25.4%
2021-12-31	5.80	0.05	5.75	18.98	30.6%
2021-09-30	5.35	0.04	5.31	18.07	29.6%
2021-06-30	5.37	0.07	5.29	17.75	30.2%
2021-03-31	5.73	0.11	5.62	17.21	33.3%
2020-12-31	5.99	0.11	5.88	16.77	35.7%
2020-09-30	4.48	0.06	4.43	8.48	52.9%
2020-06-30	4.64	0.07	4.57	8.49	54.7%
2020-03-31	4.67	0.19	4.48	8.91	52.4%
2019-12-31	2.11	0.35	1.76	3.50	60.3%
2019-09-30	2.11	0.40	1.71	3.49	60.4%
2019-06-30	2.10	0.38	1.73	3.39	62.0%
2019-03-31	2.09	0.43	1.66	3.31	63.1%
2018-12-31	2.09	0.82	1.27	3.53	59.3%
2018-09-30	2.32	0.90	1.42	3.13	74.1%
2018-06-30	2.31	0.80	1.50	3.05	75.6%
2018-03-31	2.35	0.79	1.56	2.86	82.1%
2017-12-31	2.36	1.01	1.35	2.95	79.8%
2017-09-30	1.74	0.26	1.48	1.92	90.3%
2017-06-30	1.66	0.32	1.34	2.03	81.9%
2017-03-31	1.70	0.30	1.40	1.93	88.1%
2016-12-31	2.23	0.32	1.91	1.92	116.0%
2016-09-30	2.26	0.13	2.13	1.77	127.5%
2016-06-30	2.51	0.11	2.40	1.85	135.5%
2016-03-31	2.52	0.06	2.46	1.89	133.4%
2015-12-31	2.70	0.29	2.41	2.13	126.5%
2015-09-30	2.80	0.27	2.53	2.27	123.1%
2015-06-30	2.97	0.28	2.70	2.61	113.9%
2015-03-31	2.97	0.36	2.62	2.70	110.0%
2014-12-31	2.98	0.29	2.69	3.20	93.3%
2014-09-30	3.25	0.24	3.00	4.81	67.5%
2014-06-30	3.45	0.36	3.09	13.10	26.4%
2014-03-31	3.29	0.36	2.93	13.20	24.9%
2013-12-31	3.04	0.34	2.71	13.12	23.2%
2013-09-30	3.33	0.30	3.03	13.57	24.5%
2013-06-30	3.32	0.26	3.06	13.59	24.4%
2013-03-31	3.43	0.29	3.15	13.82	24.8%
2012-12-31	4.05	0.20	3.86	13.57	29.9%
2012-09-30	4.11	0.04	4.07	15.30	26.9%
2012-06-30	4.22	0.23	3.98	15.19	27.7%
2012-03-31	3.67	0.12	3.55	14.89	24.6%
2011-12-31	3.68	0.52	3.16	14.54	25.3%
2011-09-30	3.95	0.62	3.33	13.95	28.3%
2011-06-30	3.96	0.35	3.61	13.67	29.0%
2011-03-31	2.41	2.27	0.14	8.95	26.9%
2010-12-31	1.90	1.57	0.33	7.78	24.4%
2010-09-30	1.91	1.18	0.73	7.08	26.9%
2010-06-30	1.09	0.69	0.41	5.64	19.4%
2010-03-31	0.72	0.55	0.17	5.53	13.1%
2009-12-31	0.65	0.50	0.15	4.64	14.0%
2009-09-30	0.69	0.36	0.33	4.51	15.3%
2009-06-30	0.53	0.27	0.25	4.30	12.2%
2009-03-31	0.53	0.13	0.40	4.03	13.0%
2008-12-31	0.53	0.18	0.35	4.11	12.8%
2008-09-30	0.53	0.39	0.14	4.31	12.2%
2008-06-30	0.69	0.32	0.36	4.05	16.9%
2008-03-31	0.60	0.19	0.41	3.30	18.2%
2007-12-31	0.44	0.16	0.28	3.08	14.3%
2007-09-30	0.59	0.14	0.45	3.06	19.3%
2007-06-30	0.13	0.13	-0.00Net Cash	2.22	5.6%
2007-03-31	0.05	0.12	-0.07Net Cash	2.01	2.5%
2006-12-31	0.00	0.35	-0.35Net Cash	1.94	0.0%
2006-09-30	0.00	0.21	-0.21Net Cash	1.85	0.0%
2006-06-30	0.00	0.13	-0.13Net Cash	1.82	0.0%
2006-03-31	0.00	0.14	-0.14Net Cash	1.77	0.0%
2005-12-31	0.00	0.20	-0.20Net Cash	1.75	0.0%
2005-09-30	0.00	0.10	-0.10Net Cash	1.61	0.0%
2005-06-30	0.05	0.12	-0.07Net Cash	1.59	3.1%
2005-03-31	0.07	0.11	-0.03Net Cash	1.49	5.0%
2004-12-31	0.03	0.40	-0.37Net Cash	1.16	2.2%
2004-09-30	0.00	0.27	-0.27Net Cash	1.09	0.0%
2004-06-30	0.00	0.20	-0.20Net Cash	1.02	0.0%
2004-03-31	0.00	0.18	-0.18Net Cash	1.02	0.0%
2003-12-31	0.03	0.07	-0.04Net Cash	0.90	2.8%
2003-09-30	0.05	0.07	-0.02Net Cash	0.72	6.9%
2003-06-30	0.05	0.04	0.01	0.70	7.1%
2003-03-31	0.06	0.05	0.00	0.73	7.5%
2002-12-31	0.06	0.06	-0.01Net Cash	0.73	7.5%
2002-09-30	0.17	0.19	-0.02Net Cash	0.79	21.4%
2002-06-30	0.17	0.14	0.03	0.88	19.2%
2002-03-31	0.17	0.14	0.03	0.89	19.1%
2001-12-31	0.17	0.18	-0.01Net Cash	0.82	20.6%
2001-09-30	0.17	0.10	0.07	0.80	21.4%
2001-06-30	0.17	0.06	0.11	0.78	21.8%
2001-03-31	0.14	0.06	0.08	0.77	17.6%
2000-12-31	0.07	0.03	0.04	0.73	9.6%
2000-09-30	0.07	0.05	0.02	0.69	10.2%
2000-06-30	0.07	0.02	0.05	0.68	10.2%
2000-03-31	0.07	0.04	0.03	0.66	10.6%
1999-12-31	0.07	0.07	0.00	0.68	10.3%
1999-09-30	0.07	0.03	0.04	0.69	10.2%
1999-06-30	0.07	0.02	0.05	0.72	9.8%
1999-03-31	0.07	0.07	0.00	0.71	9.9%
1998-12-31	0.07	0.13	-0.06Net Cash	0.72	9.7%
1998-09-30	0.07	0.12	-0.05Net Cash	0.70	10.0%
1998-06-30	0.07	0.07	-0.00Net Cash	0.69	10.1%
1998-03-31	0.07	0.06	0.01	0.67	10.4%
1997-12-31	0.07	0.12	-0.05Net Cash	0.69	10.1%
1997-09-30	0.07	0.09	-0.02Net Cash	0.68	10.3%
1997-06-30	0.07	0.06	0.01	0.65	10.7%
1997-03-31	0.07	0.10	-0.03Net Cash	0.65	10.8%
1996-12-31	0.07	0.15	-0.08Net Cash	0.67	10.4%
1996-09-30	0.07	0.14	-0.07Net Cash	0.66	10.6%