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Cleveland-Cliffs Steel Holding Corp (AKS)

Income Statement Business | Geographic

Standardized | As Reported Annual | Quarterly | TTM
  Older >>
In millions, except per share itemsDec-31-19Dec-31-18Dec-31-17Dec-31-16Dec-31-15Dec-31-14Dec-31-13Dec-31-12
   10-K10-K10-K10-K10-K10-K10-K10-K
Total revenues   [+]6,359.46,818.26,080.55,882.56,692.96,505.75,570.45,933.7
            Revenue growth  -6.7%12.1%3.4%-12.1%2.9%16.8%-6.1%-8.3%
Cost of goods sold  5,606.35,911.05,253.115,299.16,032.06,007.75,107.85,539.1
Gross profit  753.1907.2827.4-9,416.6660.9498.0462.6394.6
            Gross margin  11.8%13.3%13.6%-160.1%9.9%7.7%8.3%6.7%
Selling, general and administrative  295.2322.6284.9279.1261.9247.2205.3208.7
Other operating expenses  56.0 -19.3-9,913.3312.3111.4  
EBITDA   [+]434.6616.6585.9452.6323.9361.7345.080.9
            EBITDA margin  6.8%9.0%9.6%7.7%4.8%5.6%6.2%1.4%
Depreciation  215.6243.2246.1216.6216.0201.9190.1192.0
EBITA  219.0373.4339.8236.0107.9159.8154.9-111.1
            EBITA margin  3.4%5.5%5.6%4.0%1.6%2.5%2.8%-1.9%
Amortization of intangibles  9.79.04.018.421.220.419.117.0
EBIT   [+]209.3364.4335.8217.686.7139.4135.8-128.1
            EBIT margin  3.3%5.3%5.5%3.7%1.3%2.1%2.4%-2.2%
Non-recurring items   [+]  75.6     
Interest expense  146.6151.6152.3163.9173.0144.7127.486.7
Other income (expense), net   [+]6.525.154.8-21.4-296.5-21.1-1.46.2
Pre-tax income  69.2237.9162.732.3-382.8-26.47.0-208.6
Income taxes  6.2-6.2-2.2-16.963.47.7-10.4790.0
            Tax rate  9.0%       
Minority interest  51.858.161.466.062.862.864.228.7
Net income  11.2186.0103.5-16.8-509.0-96.9-46.8-1,027.3
            Net margin  0.2%2.7%1.7%-0.3%-7.6%-1.5%-0.8%-17.3%
   
Basic EPS   [+]$0.04$0.59$0.33($0.07)($2.87)($0.65)($0.34)($9.09)
Diluted EPS   [+]$0.04$0.59$0.32($0.07)($2.87)($0.65)($0.34)($9.09)
   
Dividends per share   [+]       $0.10
   
Shares outstanding (basic)   [+]315.8314.8314.3230.0177.2148.1135.8113.0
Shares outstanding (diluted)   [+]316.6315.6319.7230.0177.2148.1135.8113.0
   
EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.  

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