Overview Financials News + Filings Key Docs Charts Holdings Ownership Insiders
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| In millions, except per share items | Dec-31-22 | Dec-31-21 | Dec-31-20 | Dec-31-19 | Dec-31-18 | Dec-31-17 | Dec-31-16 | Dec-31-15 |
| | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K |
| Revenues: |
| North America | 21,954.0 | 19,684.0 | 5,182.0 | 1,953.0 | 2,242.0 | 1,710.7 | 1,503.3 | 1,488.8 |
| Asia-Pacific Iron Ore | | | | | | | | 487.9 |
| Other | 1,035.0 | 760.0 | 172.0 | 37.0 | 90.0 | 155.3 | | 36.6 |
| Total revenues | 22,989.0 | 20,444.0 | 5,354.0 | 1,990.0 | 2,332.0 | 1,866.0 | 1,379.7 | 2,013.3 |
| Revenue growth [+] | 12.4% | 281.8% | 169.0% | -14.7% | 25.0% | 35.2% | -31.5% | -40.3% |
| North America | 11.5% | 279.9% | 165.3% | -12.9% | 31.1% | 13.8% | 1.0% | -36.7% |
| Asia-Pacific Iron Ore | | | | | | | | -43.7% |
| Cost of goods sold | 20,471.0 | 15,910.0 | 5,102.0 | 1,414.0 | 1,523.0 | 1,398.4 | 1,274.4 | 1,776.8 |
| Gross profit | 2,518.0 | 4,534.0 | 252.0 | 576.0 | 809.0 | 467.6 | 105.3 | 236.5 |
| Gross margin | 11.0% | 22.2% | 4.7% | 28.9% | 34.7% | 25.1% | 7.6% | 11.7% |
| Selling, general and administrative | 465.0 | 422.0 | 244.0 | 113.0 | 136.0 | 77.4 | 149.4 | 85.2 |
| Equity in earnings | | | | | | | | |
| Other operating expenses | 118.0 | 120.0 | 240.0 | 41.0 | 87.0 | | -500.0 | 16.0 |
| EBITDA [+] | 2,969.0 | 4,889.0 | 76.0 | 507.0 | 675.0 | 477.9 | 571.3 | 269.3 |
| EBITDA growth | -39.3% | 6332.9% | -85.0% | -24.9% | 41.2% | -16.3% | 112.1% | -61.6% |
| EBITDA margin | 12.9% | 23.9% | 1.4% | 25.5% | 28.9% | 25.6% | 41.4% | 13.4% |
| Depreciation | 1,021.0 | 887.0 | 308.0 | 85.0 | 89.0 | 87.7 | 115.4 | 134.0 |
| EBITA | 1,948.0 | 4,002.0 | -232.0 | 422.0 | 586.0 | 390.2 | 455.9 | 135.3 |
| EBITA margin | 8.5% | 19.6% | -4.3% | 21.2% | 25.1% | 20.9% | 33.0% | 6.7% |
| Amortization of intangibles | 13.0 | 10.0 | | | | | | |
| EBIT [+] | 1,935.0 | 3,992.0 | -232.0 | 422.0 | 586.0 | 390.2 | 455.9 | 135.3 |
| EBIT growth | -51.5% | -1820.7% | -155.0% | -28.0% | 50.2% | -14.4% | 237.0% | -31.4% |
| EBIT margin | 8.4% | 19.5% | -4.3% | 21.2% | 25.1% | 20.9% | 33.0% | 6.7% |
| Non-recurring items | -4.0 | -20.0 | -90.0 | -7.0 | | | 305.4 | -302.3 |
| Interest expense | 276.0 | 337.0 | 238.0 | 101.0 | | | | 185.6 |
| Interest expense | 276.0 | 337.0 | 238.0 | 101.0 | | | | 185.6 |
| Other income (expense), net [+] | 133.0 | 128.0 | 187.0 | -15.0 | -21.0 | -282.0 | -40.1 | 61.1 |
| Gain (loss) on debt retirement | -75.0 | -88.0 | 130.0 | -18.0 | | | | |
| Other | -4.0 | 6.0 | 3.0 | 4.0 | -21.0 | -282.0 | -40.1 | 61.1 |
| Pre-tax income | 1,796.0 | 3,803.0 | -193.0 | 313.0 | 565.0 | 108.2 | 110.4 | 313.1 |
| Income taxes | 423.0 | 773.0 | -111.0 | 18.0 | -460.0 | -252.4 | -12.2 | 169.3 |
| Tax rate | 23.6% | 20.3% | 57.5% | 5.8% | | | | 54.1% |
| Minority interest | 41.0 | 45.0 | -41.0 | | | | | |
| Earnings from continuing ops | 1,335.0 | 2,988.0 | -122.0 | 293.0 | 1,040.0 | 364.5 | 97.4 | 135.1 |
| Earnings from discontinued ops | | 0.0 | | 0.0 | | 2.5 | 76.7 | -892.1 |
| Net income | 1,335.0 | 2,988.0 | -122.0 | 293.0 | 1,128.0 | 367.0 | 174.1 | -749.3 |
| Net margin | 5.8% | 14.6% | -2.3% | 14.7% | 48.4% | 19.7% | 12.6% | -37.2% |
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| Basic EPS [+] | $2.57 | $6.00 | ($0.32) | $1.06 | $3.50 | $1.26 | $0.49 | $0.88 |
| Growth | -57.1% | -1963.9% | -130.4% | -69.8% | 177.1% | 156.5% | -44.1% | 342.7% |
| Diluted EPS [+] | $2.55 | $5.35 | ($0.32) | $1.03 | $3.42 | $1.24 | $0.49 | $0.88 |
| Growth | -52.4% | -1763.5% | -131.2% | -69.8% | 175.0% | 155.6% | -44.7% | 341.5% |
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| Dividends per share [+] | | | $0.06 | $0.27 | $0.05 | | | |
| Growth | | -100.0% | -77.8% | 440.0% | | | | -100.0% |
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| Shares outstanding (basic) [+] | 519.0 | 498.0 | 379.0 | 277.0 | 297.0 | 288.4 | 197.7 | 153.2 |
| Growth | 4.2% | 31.4% | 36.8% | -6.7% | 3.0% | 45.9% | 29.0% | 0.1% |
| Shares outstanding (diluted) [+] | 524.0 | 558.0 | 379.0 | 284.0 | 304.0 | 293.0 | 200.1 | 153.6 |
| Growth | -6.1% | 47.2% | 33.5% | -6.6% | 3.8% | 46.4% | 30.3% | 0.3% |
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| 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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