# CLEVELAND-CLIFFS INC. (CLF) FY2026 Q2 Statement of Cash Flows

- Company: CLEVELAND-CLIFFS INC. (CLF)
- Period: 2026-04-01 to 2026-06-30
- Filing: Q2 FY2026 10-Q, filed 2026-07-23, accession number 0000764065-26-000100
- Page: https://plicit.ai/financials/clf/fy2026-q2-cash-flow
- Chart image: https://plicit.ai/charts/clf-fy2026-q2-cash-flow-sankey.png

## Chart details

Cash flows for Apr 1, 2026 through Jun 30, 2026. Cash basis: Cash, cash equivalents, and restricted cash. Beginning cash: Mar 31, 2026. Ending cash: Jun 30, 2026. Beginning and ending cash are dated balances. Positive cash flows add cash; negative cash flows reduce it.

- **Beginning cash on Mar 31, 2026**: 52,000,000 US dollars. Beginning cash: Cash, cash equivalents, and restricted cash
- **Operating activities**: 230,000,000 US dollars. Net cash provided.
- **Net loss**: negative 134,000,000 US dollars
- **Depreciation, depletion and amortization**: 262,000,000 US dollars
- **Pension and OPEB credits**: negative 56,000,000 US dollars
- **Deferred income taxes**: negative 17,000,000 US dollars
- **Restructuring and other charges**: 3,000,000 US dollars
- **Other**: 73,000,000 US dollars
- **Accounts receivable, net**: negative 166,000,000 US dollars
- **Inventories**: 55,000,000 US dollars
- **Income taxes**: negative 2,000,000 US dollars
- **Pension and OPEB payments and contributions**: negative 22,000,000 US dollars
- **Payables, accrued employment and accrued expenses**: 236,000,000 US dollars
- **Other, net**: negative 2,000,000 US dollars
- **Asset impairment**: 0 US dollars
- **Investing activities**: negative 126,000,000 US dollars. Net cash used.
- **Purchase of property, plant and equipment**: negative 157,000,000 US dollars
- **Other investing activities**: 31,000,000 US dollars
- **Financing activities**: negative 79,000,000 US dollars. Net cash used.
- **Proceeds from issuance of senior notes**: 0 US dollars
- **Borrowings (repayments) under ABL Facility, net**: negative 63,000,000 US dollars
- **Debt issuance costs**: 0 US dollars
- **Other financing activities**: negative 16,000,000 US dollars
- **Operating adjustment reconciliation**: 629,000,000 US dollars. Intermediate calculation joining the operating reconciliation branches. Its gross amount includes any portion of net income routed through this junction. It is not an additional cash source or use.
- **financing gross reconciliation**: 79,000,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
- **investing gross reconciliation**: 157,000,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
- **Exchange-rate effect**: negative 1,000,000 US dollars
- **Ending cash on Jun 30, 2026**: 76,000,000 US dollars. Ending cash: Cash, cash equivalents, and restricted cash
- **Cash sources and uses**: 282,000,000 US dollars. Opening cash plus net sources, equal to net uses plus ending cash.
- **Net cash change**: 24,000,000 US dollars. Ending cash minus beginning cash.
- **Cash flow / Net income**: Not meaningful. Operating cash flow divided by reconciliation net income for the same period. The ratio is not meaningful when net income is zero or negative.
- **Operating cash flow**: 230,000,000 US dollars. Operating cash flow used in the free cash flow calculation.
- **Cash purchases of property, plant and equipment**: 157,000,000 US dollars. These cash purchases are already included in investing activities above.
- **Free cash flow**: 73,000,000 US dollars. A supplemental measure; finance-lease payments are excluded from this definition.

### Chart connections

- Beginning cash plus operating, investing and financing cash flows plus the exchange-rate effect equals ending cash. Negative amounts reduce cash.
- Financing contributions meet at a reconciliation junction before connecting to the net cash total.
- Investing contributions meet at a reconciliation junction before connecting to the net cash total.
- Operating reconciliation adjustments are not all independent cash receipts.
- Net loss −$134.00M + net operating adjustments $364.00M = operating cash +$230.00M. The loss reduces the earnings basis of the reconciliation; it is not a cash payment. The signed loss remains a deduction at the operating reconciliation junction.
- Each activity has one net cash bar connected to the shared cash pool. Positive activity totals enter the pool; negative activity totals leave the pool to fund that activity's net payments. The central pool does not assign a particular funding source to a particular payment.
- The intermediate calculation bars include both sides of the displayed activity breakdowns; they are not additional cash flows.
- Operating cash flow minus cash purchases of property, plant and equipment equals free cash flow: 230,000,000 US dollars minus 157,000,000 US dollars equals 73,000,000 US dollars.