Cleveland-Cliffs 2002 Annual Report comparative highlights
Company Profile
Core Values
Comparative Highlights
Letter to Our Shareholders
Safety Performance 2002
Environmental Performance 2002
Financial Information
Corporate Information

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Cleveland-Cliffs.com

   
2002 
 
2001 
Financial (In Millions Except Per Share Amounts)    
For the Year:    
  Revenues from Iron Ore Sales and Services $586.4  $319.3 
  Cost of Goods Sold and Operating Expenses:    
  Total 582.7  358.7 
  Costs of Production Curtailments 20.6  48.0 
  Excluding Costs of Production Curtailments 562.1  310.7 
  Sales Margin (Loss):    
  Total 3.7  (39.4)
  Excluding Costs of Production Curtailments 24.3  8.6 
  Income (Loss) from Continuing Operations Before    
  Asset Impairment Charge and Income Taxes (4.6) (28.7)
  Asset Impairment Charge 52.7   
  Income Taxes (Credit) 9.1  (9.2)
  (Loss) from Continuing Operations (66.4) (19.5)
  (Loss) from Discontinued Operation (108.5) (12.7)
  Cumulative Effect of Accounting Changes (13.4) 9.3 
  Net (Loss):    
  Amount (188.3) (22.9)
  Per Share (18.62) (2.27)
  Earnings before Interest, Taxes, Depreciation    
  and Amortization (EBITDA)*
 
31.1  (.3)
At December 31:    
  Cash and Cash Equivalents 61.8  183.8 
  Less Debt (55.0) (170.0)
  Net Cash 6.8  13.8 
  Shareholders' Equity 79.3  374.2 
  Per Common Share:    
  Book Value 7.84  36.90 
  Market Value
 
19.85  18.30 
Iron Ore Production and Sales
(Millions of Gross Tons)
   
Cliffs' Sales 14.7  8.4 
Production At Cliffs' Mines:    
  Cliffs' Share 14.7  7.8 
  Partners' Share 13.2  17.6 
  Total Production 27.9  25.4 

 

*Results from continuing operations excluding asset impairment charge. EBITDA is a non-GAAP financial measure used by investors to analyze and compare companies on the basis of operating performance.