Financial Statements for Cliffs Natural Resources Inc

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Cliffs Natural Resources Inc financials

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Income Statement

Balance Sheet

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In Millions of USD (except for per share items)	3 months ending 2012-06-30	3 months ending 2012-03-31	3 months ending 2011-12-31	3 months ending 2011-09-30	3 months ending 2011-06-30
Revenue	1,626.00	1,264.70	1,662.50	2,142.80	1,805.80
Other Revenue, Total	-	-	-	-	-
Total Revenue	1,626.00	1,264.70	1,662.50	2,142.80	1,805.80
Cost of Revenue, Total	1,176.70	961.20	1,168.80	1,279.50	1,074.20
Gross Profit	449.30	303.50	493.70	863.30	731.60
Selling/General/Admin. Expenses, Total	83.50	63.00	81.00	78.30	69.40
Research & Development	29.10	18.80	25.10	26.60	18.20
Depreciation/Amortization	-	-	-	-	-
Interest Expense(Income) - Net Operating	-	-	-	-	-
Unusual Expense (Income)	0.00	-	28.20	2.10	18.00
Other Operating Expenses, Total	-28.60	-9.40	-8.50	-64.00	8.20
Total Operating Expense	1,260.70	1,033.60	1,294.60	1,322.50	1,188.00
Operating Income	365.30	231.10	367.90	820.30	617.80
Interest Income(Expense), Net Non-Operating	-	-	-	-	-
Gain (Loss) on Sale of Assets	-	-	0.00	0.00	-
Other, Net	-0.50	1.50	-1.30	-1.70	2.90
Income Before Tax	317.70	187.60	322.60	765.50	589.80
Income After Tax	274.80	398.40	214.80	747.70	439.40
Minority Interest	-16.30	-15.60	-23.40	-151.80	-18.30
Equity In Affiliates	-0.50	-6.90	6.90	11.10	-11.30
Net Income Before Extra. Items	258.00	375.90	198.30	607.00	409.80
Accounting Change	-	-	-	-	-
Discontinued Operations	-	-	-	-	-
Extraordinary Item	-	-	-	-	-
Net Income	258.00	375.80	198.50	589.50	409.10
Preferred Dividends	-	-	-	-	-
Income Available to Common Excl. Extra Items	258.00	375.90	198.30	607.00	409.80
Income Available to Common Incl. Extra Items	258.00	375.80	198.50	589.50	409.10
Basic Weighted Average Shares	-	-	-	-	-
Basic EPS Excluding Extraordinary Items	-	-	-	-	-
Basic EPS Including Extraordinary Items	-	-	-	-	-
Dilution Adjustment	-	-	-	-	-
Diluted Weighted Average Shares	142.81	142.71	142.39	144.99	139.78
Diluted EPS Excluding Extraordinary Items	1.81	2.63	1.39	4.19	2.93
Diluted EPS Including Extraordinary Items	-	-	-	-	-
Dividends per Share - Common Stock Primary Issue	0.63	0.28	0.28	0.28	0.14
Gross Dividends - Common Stock	-	-	-	-	-
Net Income after Stock Based Comp. Expense	-	-	-	-	-
Basic EPS after Stock Based Comp. Expense	-	-	-	-	-
Diluted EPS after Stock Based Comp. Expense	-	-	-	-	-
Depreciation, Supplemental	-	-	-	-	-
Total Special Items	-	-	-	-	-
Normalized Income Before Taxes	-	-	-	-	-
Effect of Special Items on Income Taxes	-	-	-	-	-
Income Taxes Ex. Impact of Special Items	-	-	-	-	-
Normalized Income After Taxes	-	-	-	-	-
Normalized Income Avail to Common	-	-	-	-	-
Basic Normalized EPS	-	-	-	-	-
Diluted Normalized EPS	1.81	2.63	1.52	4.20	3.03

In Millions of USD (except for per share items)	12 months ending 2011-12-31	12 months ending 2010-12-31	12 months ending 2009-12-31	12 months ending 2008-12-31
Revenue	6,794.30	4,682.10	2,342.00	3,609.10
Other Revenue, Total	-	-	-	-
Total Revenue	6,794.30	4,682.10	2,342.00	3,609.10
Cost of Revenue, Total	4,105.70	3,155.60	2,030.30	2,449.40
Gross Profit	2,688.60	1,526.50	311.70	1,159.70
Selling/General/Admin. Expenses, Total	274.40	202.10	117.60	188.60
Research & Development	80.50	33.70	0.00	-
Depreciation/Amortization	-	-	-	-
Interest Expense(Income) - Net Operating	-	-	-	-
Unusual Expense (Income)	53.20	0.00	0.00	92.40
Other Operating Expenses, Total	-68.10	20.50	-42.00	-35.10
Total Operating Expense	4,445.70	3,411.90	2,105.90	2,695.30
Operating Income	2,348.60	1,270.20	236.10	913.80
Interest Income(Expense), Net Non-Operating	-	-	-	-
Gain (Loss) on Sale of Assets	0.00	40.70	0.00	0.00
Other, Net	-2.00	12.50	2.90	4.30
Income Before Tax	2,241.50	1,303.00	296.50	716.30
Income After Tax	1,821.40	1,009.50	274.00	572.10
Minority Interest	-193.50	0.00	0.00	-21.20
Equity In Affiliates	9.70	13.50	-65.50	-35.10
Net Income Before Extra. Items	1,637.60	1,023.00	208.50	515.80
Accounting Change	-	-	-	-
Discontinued Operations	-	-	-	-
Extraordinary Item	-	-	-	-
Net Income	1,619.10	1,019.90	205.10	515.80
Preferred Dividends	-	-	-	-
Income Available to Common Excl. Extra Items	1,637.60	1,023.00	208.50	514.70
Income Available to Common Incl. Extra Items	1,619.10	1,019.90	205.10	514.70
Basic Weighted Average Shares	-	-	-	-
Basic EPS Excluding Extraordinary Items	-	-	-	-
Basic EPS Including Extraordinary Items	-	-	-	-
Dilution Adjustment	-	-	-	1.10
Diluted Weighted Average Shares	141.01	136.14	125.75	108.29
Diluted EPS Excluding Extraordinary Items	11.61	7.51	1.66	4.76
Diluted EPS Including Extraordinary Items	-	-	-	-
Dividends per Share - Common Stock Primary Issue	0.84	0.51	0.26	0.35
Gross Dividends - Common Stock	-	-	-	-
Net Income after Stock Based Comp. Expense	-	-	-	-
Basic EPS after Stock Based Comp. Expense	-	-	-	-
Diluted EPS after Stock Based Comp. Expense	-	-	-	-
Depreciation, Supplemental	-	-	-	-
Total Special Items	-	-	-	-
Normalized Income Before Taxes	-	-	-	-
Effect of Special Items on Income Taxes	-	-	-	-
Income Taxes Ex. Impact of Special Items	-	-	-	-
Normalized Income After Taxes	-	-	-	-
Normalized Income Avail to Common	-	-	-	-
Basic Normalized EPS	-	-	-	-
Diluted Normalized EPS	11.92	7.28	1.66	5.44

In Millions of USD (except for per share items)	As of 2012-06-30	As of 2012-03-31	As of 2011-12-31	As of 2011-09-30	As of 2011-06-30
Cash & Equivalents	159.20	122.30	521.60	545.10	238.10
Short Term Investments	-	-	-	-	-
Cash and Short Term Investments	159.20	122.30	521.60	545.10	238.10
Accounts Receivable - Trade, Net	310.80	247.20	304.20	433.80	387.70
Receivables - Other	-	-	-	-	-
Total Receivables, Net	310.80	247.20	304.20	433.80	387.70
Total Inventory	978.00	924.70	692.60	704.10	762.20
Prepaid Expenses	-	-	-	-	-
Other Current Assets, Total	294.60	293.10	272.30	221.80	300.30
Total Current Assets	1,742.60	1,587.30	1,790.70	1,904.80	1,688.30
Property/Plant/Equipment, Total - Gross	12,477.80	-	-	-	-
Accumulated Depreciation, Total	-1,595.70	-	-	-	-
Goodwill, Net	1,166.10	1,166.90	1,152.10	1,237.70	1,227.30
Intangibles, Net	137.90	143.00	147.00	149.30	159.50
Long Term Investments	531.20	530.90	526.60	515.80	509.40
Other Long Term Assets, Total	734.40	698.50	400.70	302.40	284.80
Total Assets	15,194.30	14,893.30	14,541.70	13,945.30	13,671.70
Accounts Payable	385.20	394.50	380.30	370.10	306.90
Accrued Expenses	402.10	380.60	386.30	359.90	361.60
Notes Payable/Short Term Debt	0.00	0.00	0.00	0.00	0.00
Current Port. of LT Debt/Capital Leases	369.70	87.20	74.80	62.30	62.50
Other Current liabilities, Total	377.30	522.30	651.90	507.10	460.00
Total Current Liabilities	1,534.30	1,384.60	1,493.30	1,299.40	1,191.00
Long Term Debt	3,614.10	3,583.80	3,608.70	3,883.50	3,898.80
Capital Lease Obligations	-	-	-	-	-
Total Long Term Debt	3,614.10	3,583.80	3,608.70	3,883.50	3,898.80
Total Debt	3,983.80	3,671.00	3,683.50	3,945.80	3,961.30
Deferred Income Tax	1,143.70	1,143.90	1,062.40	835.70	890.10
Minority Interest	1,312.50	1,293.90	1,254.70	1,128.40	973.80
Other Liabilities, Total	1,294.70	1,347.10	1,337.60	1,074.90	1,171.80
Total Liabilities	8,899.30	8,753.30	8,756.70	8,221.90	8,125.50
Redeemable Preferred Stock, Total	-	-	-	-	-
Preferred Stock - Non Redeemable, Net	-	-	-	-	-
Common Stock, Total	18.50	18.50	18.50	18.60	18.60
Additional Paid-In Capital	1,759.60	1,755.10	1,770.80	1,766.10	1,760.30
Retained Earnings (Accumulated Deficit)	4,929.40	4,760.30	4,424.30	4,266.20	3,717.70
Treasury Stock - Common	-322.60	-323.00	-336.00	-268.20	-46.30
Other Equity, Total	-89.90	-70.90	-92.60	-59.30	95.90
Total Equity	6,295.00	6,140.00	5,785.00	5,723.40	5,546.20
Total Liabilities & Shareholders' Equity	15,194.30	14,893.30	14,541.70	13,945.30	13,671.70
Shares Outs - Common Stock Primary Issue	-	-	-	-	-
Total Common Shares Outstanding	142.49	142.49	142.02	143.01	146.01

In Millions of USD (except for per share items)	As of 2011-12-31	As of 2010-12-31	As of 2009-12-31	As of 2008-12-31
Cash & Equivalents	521.60	1,566.70	502.70	179.00
Short Term Investments	-	-	-	-
Cash and Short Term Investments	521.60	1,566.70	502.70	179.00
Accounts Receivable - Trade, Net	304.20	359.10	103.50	68.50
Receivables - Other	-	-	-	-
Total Receivables, Net	304.20	359.10	103.50	68.50
Total Inventory	692.60	417.30	375.20	366.60
Prepaid Expenses	-	-	-	-
Other Current Assets, Total	272.30	240.60	179.80	247.60
Total Current Assets	1,790.70	2,583.70	1,161.20	861.70
Property/Plant/Equipment, Total - Gross	11,881.50	4,936.90	3,258.10	2,905.20
Accumulated Depreciation, Total	-1,356.90	-957.70	-665.50	-449.10
Goodwill, Net	1,152.10	196.50	74.60	2.00
Intangibles, Net	147.00	175.80	114.80	109.60
Long Term Investments	526.60	600.70	403.20	330.70
Other Long Term Assets, Total	400.70	186.20	243.10	317.60
Total Assets	14,541.70	7,778.20	4,639.30	4,111.10
Accounts Payable	380.30	266.50	178.90	201.00
Accrued Expenses	386.30	266.60	155.80	145.00
Notes Payable/Short Term Debt	0.00	0.00	0.00	0.00
Current Port. of LT Debt/Capital Leases	74.80	0.00	-	-
Other Current liabilities, Total	651.90	495.60	235.70	498.90
Total Current Liabilities	1,493.30	1,028.70	570.40	844.90
Long Term Debt	3,608.70	1,713.10	525.00	525.00
Capital Lease Obligations	-	-	-	-
Total Long Term Debt	3,608.70	1,713.10	525.00	525.00
Total Debt	3,683.50	1,713.10	525.00	525.00
Deferred Income Tax	1,062.40	63.70	70.80	67.30
Minority Interest	1,254.70	-7.20	-5.80	3.30
Other Liabilities, Total	1,337.60	1,134.00	936.10	919.90
Total Liabilities	8,756.70	3,932.30	2,096.50	2,360.40
Redeemable Preferred Stock, Total	-	-	0.00	0.20
Preferred Stock - Non Redeemable, Net	-	-	-	-
Common Stock, Total	18.50	17.30	16.80	16.80
Additional Paid-In Capital	1,770.80	896.30	695.40	442.20
Retained Earnings (Accumulated Deficit)	4,424.30	2,924.10	1,973.10	1,799.90
Treasury Stock - Common	-336.00	-37.70	-19.90	-113.80
Other Equity, Total	-92.60	45.90	-122.60	-394.60
Total Equity	5,785.00	3,845.90	2,542.80	1,750.70
Total Liabilities & Shareholders' Equity	14,541.70	7,778.20	4,639.30	4,111.10
Shares Outs - Common Stock Primary Issue	-	-	-	-
Total Common Shares Outstanding	142.02	135.46	130.97	113.51

In Millions of USD (except for per share items)	6 months ending 2012-06-30	3 months ending 2012-03-31	12 months ending 2011-12-31	9 months ending 2011-09-30
Net Income/Starting Line	665.70	391.40	1,812.60	1,590.70
Depreciation/Depletion	249.40	117.30	426.90	302.90
Amortization	-	-	-	-
Deferred Taxes	-259.20	-248.50	-66.60	-14.10
Non-Cash Items	-24.30	-33.50	-69.60	-126.80
Changes in Working Capital	-664.40	-355.70	185.50	-207.00
Cash from Operating Activities	-32.80	-129.00	2,288.80	1,545.70
Capital Expenditures	-517.00	-241.10	-880.70	-478.90
Other Investing Cash Flow Items, Total	-3.90	-10.90	-4,423.70	-4,439.70
Cash from Investing Activities	-520.90	-252.00	-5,304.40	-4,918.60
Financing Cash Flow Items	20.40	31.00	-439.00	-419.10
Total Cash Dividends Paid	-128.80	-39.70	-118.90	-78.80
Issuance (Retirement) of Stock, Net	0.00	0.00	563.90	631.80
Issuance (Retirement) of Debt, Net	300.00	-12.50	1,969.10	2,232.70
Cash from Financing Activities	191.60	-21.20	1,975.10	2,366.60
Foreign Exchange Effects	-0.30	2.90	-4.60	-15.30
Net Change in Cash	-362.40	-399.30	-1,045.10	-1,021.60
Cash Interest Paid, Supplemental	-	-	175.10	-
Cash Taxes Paid, Supplemental	-	-	275.30	-

In Millions of USD (except for per share items)	12 months ending 2011-12-31	12 months ending 2010-12-31	12 months ending 2009-12-31	12 months ending 2008-12-31
Net Income/Starting Line	1,812.60	1,019.70	205.10	537.00
Depreciation/Depletion	426.90	322.30	236.60	201.10
Amortization	-	-	-	-
Deferred Taxes	-66.60	15.20	60.80	-88.50
Non-Cash Items	-69.60	-22.80	-125.90	103.30
Changes in Working Capital	185.50	-14.40	-190.90	100.30
Cash from Operating Activities	2,288.80	1,320.00	185.70	853.20
Capital Expenditures	-880.70	-266.90	-116.30	-182.50
Other Investing Cash Flow Items, Total	-4,423.70	-1,100.80	-63.00	-613.10
Cash from Investing Activities	-5,304.40	-1,367.70	-179.30	-795.60
Financing Cash Flow Items	-439.00	-14.90	-4.70	-7.00
Total Cash Dividends Paid	-118.90	-68.90	-31.90	-37.20
Issuance (Retirement) of Stock, Net	563.90	0.00	347.30	0.00
Issuance (Retirement) of Debt, Net	1,969.10	1,171.40	-6.40	76.60
Cash from Financing Activities	1,975.10	1,087.60	304.30	32.40
Foreign Exchange Effects	-4.60	24.10	13.00	-68.10
Net Change in Cash	-1,045.10	1,064.00	323.70	21.90
Cash Interest Paid, Supplemental	175.10	34.20	25.30	26.30
Cash Taxes Paid, Supplemental	275.30	208.30	64.80	175.50