 |
|
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.
