Cleveland-Cliffs (Cleveland-Cliffs) Interest Expense : $-276 Mil (TTM As of Mar. 2024)

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What is Cleveland-Cliffs Interest Expense?

Interest Expense is the amount reported by a company or individual as an expense for borrowed money. Cleveland-Cliffs's interest expense for the three months ended in Mar. 2024 was $ -64 Mil. Its interest expense for the trailing twelve months (TTM) ended in Mar. 2024 was $-276 Mil.

Interest Coverage is a ratio that determines how easily a company can pay interest expenses on outstanding debt. It is calculated by dividing a company's Operating Income(EBIT) by its Interest Expense. Cleveland-Cliffs's Operating Income for the three months ended in Mar. 2024 was $ 130 Mil. Cleveland-Cliffs's Interest Expense for the three months ended in Mar. 2024 was $ -64 Mil. Cleveland-Cliffs's Interest Coverage for the quarter that ended in Mar. 2024 was 2.03. The higher the ratio, the stronger the company's financial strength is. Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.

Cleveland-Cliffs Interest Expense Historical Data

The historical data trend for Cleveland-Cliffs's Interest Expense can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Cleveland-Cliffs Interest Expense Chart

Cleveland-Cliffs Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Interest Expense

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-101.00

-238.00

-337.00

-276.00

-289.00

Cleveland-Cliffs Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Interest Expense	Get a 7-Day Free Trial															-77.00	-79.00	-70.00	-63.00	-64.00

Cleveland-Cliffs Interest Expense Calculation

Interest Expense is the amount reported by a company or individual as an expense for borrowed money.

Interest Expense for the trailing twelve months (TTM) ended in Mar. 2024 adds up the quarterly data reported by the company within the most recent 12 months, which was $-276 Mil.

Cleveland-Cliffs (NYSE:CLF) Interest Expense Explanation

Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.

Cleveland-Cliffs's Interest Expense for the three months ended in Mar. 2024 was $-64 Mil. Its Operating Income for the three months ended in Mar. 2024 was $130 Mil. And its Long-Term Debt & Capital Lease Obligation for the three months ended in Mar. 2024 was $3,664 Mil.

Cleveland-Cliffs's Interest Coverage for the quarter that ended in Mar. 2024 is calculated as

Interest Coverage	=	-1	*	Operating Income (Q: Mar. 2024 )	/	Interest Expense (Q: Mar. 2024 )
	=	-1	*	130	/	-64
	=	2.03

The higher the ratio, the stronger the company's financial strength is.

Cleveland-Cliffs (Cleveland-Cliffs) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Steel » Cleveland-Cliffs Inc (NYSE:CLF) » Definitions » Interest Expense

Comparable Companies

Traded in Other Exchanges

CLF:Mexico CVA:Germany CVA:Germany

Address

200 Public Square, Suite 3300, Cleveland, OH, USA, 44114-2315

Website

https://www.clevelandcliffs.com

Cleveland-Cliffs Inc is a flat-rolled steel producer and manufacturer of iron ore pellets in North America. It has one reportable segment -Steelmaking. It is vertically integrated from mined raw materials, direct reduced iron, and ferrous scrap to primary steelmaking and downstream finishing, stamping, tooling and tubing. It serves a diverse range of other markets due to its comprehensive offering of flat-rolled steel products. Geographically, it operates in the United States, Canada and other countries. The majority of revenue is from the United States. It is a supplier of steel to the automotive industry in North America.

Executives

Michael Ralph S Iii	director
Goncalves Celso L Jr	officer: EVP, CFO	200 PUBLIC SQUARE, SUITE 3300, CLEVELAND OH 44114
Arlene M Yocum	director	99 PINE STREET, ALBANY NY 12207
Lourenco Goncalves	director, officer: Chairman, President & CEO
Keith Koci	officer: EVP, Chief Financial Officer	ONE RIVERWAY, SUITE 1100, HOUSTON TX 77056
Douglas C Taylor	director	200 PUBLIC SQUARE, SUITE 3300, CLEVELAND OH 44114
Susan Miranda Green	director	11211 LANDY COURT, KENSINGTON MD 20895
Janet L Miller	director	200 PUBLIC SQUARE, SUITE 3300, CLEVELAND OH 44114
Fisher Robert P Jr	director	200 PUBLIC SQUARE, SUITE 3300, CLEVELAND OH 44067
John T Baldwin	director	200 PUBLIC SQUARE, SUITE 3300, CLEVELAND OH 44114
Arcelormittal North America Holdings Llc	other: Former 10% Owner	1 SOUTH DEARBORN STREET, 13TH FLOOR, CHICAGO IL 60603
Rcelormittal	other: Former 10% Owner	24-26, BOULEVARD D?AVRANCHES, L-1160 LUXEMBOURG, GRAND DUCHY OF LUXEMBOURG N4 00000
Kimberly A Floriani	officer: VP, Corp Controller & CAO	200 PUBLIC SQUARE, SUITE 3300, CLEVELAND OH 44114
M Ann Harlan	director
William K Gerber	director	999 WEST BIG BEAVER ROAD, TROY MI 48084