|
Cleveland-Cliffs Inc and Consolidated Subsidiaries
| |
(In
Millions) |
| |
December
31
|
| |
2000 |
1999 |
|
|
|
| ASSETS |
|
|
| CURRENT ASSETS |
|
|
| Cash
and cash equivalents |
$29.9 |
$67.6 |
| Trade
accounts receivable |
46.3 |
66.0 |
| Receivables
from associated companies |
18.5 |
16.6 |
| Product
inventories – iron ore |
90.8 |
36.6 |
| Supplies
and other inventories |
22.4 |
16.0 |
| Deferred
and refundable income taxes |
27.3 |
7.7 |
| Other
|
12.8 |
6.6 |
|
|
|
| TOTAL
CURRENT ASSETS |
248.0 |
217.1 |
| |
|
|
| PROPERTIES |
|
|
| Plant
and equipment |
337.7 |
204.9 |
| Minerals |
19.2 |
19.1 |
|
|
|
| |
356.9 |
224.0 |
| Allowances
for depreciation and depletion |
(84.2) |
(70.1) |
|
|
|
| TOTAL
PROPERTIES |
272.7 |
153.9 |
| |
|
|
| INVESTMENTS
IN ASSOCIATED COMPANIES |
138.4 |
233.4 |
| |
|
|
| OTHER ASSETS |
|
|
| Prepaid
pensions |
38.1 |
40.8 |
| Miscellaneous |
30.6 |
34.5 |
|
|
|
| TOTAL
OTHER ASSETS |
68.7 |
75.3 |
|
|
|
| |
|
|
| TOTAL
ASSETS |
$727.8 |
$679.7 |
| |
(In
Millions) |
| |
December
31
|
| |
2000 |
1999 |
|
|
|
| LIABILITIES
AND SHAREHOLDERS’ EQUITY |
|
|
| CURRENT LIABILITIES |
|
|
| Trade
accounts payable |
$12.4 |
$9.5 |
| Payables
to associated companies |
22.7 |
19.6 |
| Accrued
expenses |
44.1 |
30.3 |
| Taxes
payable |
16.1 |
9.8 |
| Other
|
6.9 |
4.5 |
|
|
|
| TOTAL
CURRENT LIABILITIES |
102.2 |
73.7 |
| |
|
|
| LONG-TERM DEBT |
70.0 |
70.0 |
| POSTEMPLOYMENT
BENEFIT LIABILITIES |
71.7 |
68.1 |
| OTHER LIABILITIES |
58.0 |
60.6 |
| MINORITY INTEREST
IN CLIFFS AND ASSOCIATES LIMITED |
23.9 |
|
| SHAREHOLDERS’
EQUITY |
|
|
| Preferred
Stock – no par value |
|
|
| Class
A – 500,000 shares authorized and unissued |
|
|
| Class
B – 4,000,000 shares authorized and unissued |
|
|
| Common
Shares – par value $1 a share |
|
|
| Authorized
– 28,000,000 shares; |
|
|
| Issued
– 16,827,941 shares |
16.8 |
16.8 |
| Capital
in excess of par value of shares |
67.3 |
67.1 |
| Retained
income |
503.7 |
501.3 |
| Cost
of 6,708,539 Common Shares in Treasury (1999
– 6,180,742 shares) |
(183.8) |
(171.5) |
| Accumulated
other comprehensive loss, net of tax |
|
(5.2) |
| Unearned
compensation |
(2.0) |
(1.2) |
|
|
|
| TOTAL
SHAREHOLDERS’ EQUITY |
402.0 |
407.3 |
|
|
|
| TOTAL
LIABILITIES AND SHAREHOLDERS’ EQUITY |
$727.8 |
$679.7 |
*See notes to consolidated financial statements
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