SUMMARY OF FINANCIAL AND OTHER STATISTICAL DATA Exhibit 13(j)
CLEVELAND-CLIFFS INC AND CONSOLIDATED SUBSIDIARIES
1995 1994 1993
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FINANCIAL (IN MILLIONS EXCEPT PER SHARE AMOUNTS)
FOR THE YEAR
Operating Earnings From Continuing Operations:
Operating Revenues - Product Sales and Services $ 411.2 $ 334.8 $ 268.1
- Royalties and Management Fees 49.5 44.7 39.7
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- Total 460.7 379.5 307.8
Cost of Goods Sold and Operating Expenses and AS&G Expenses 371.5 315.8 268.5
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Operating Earnings 89.2 63.7 39.3
Net Income (Loss) - From Continuing Operations (a) 57.8 42.8 54.6
- From Discontinued Operations -- -- --
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- Total 57.8 42.8 54.6
Net Income (Loss) Per Common Share - From Continuing Operations (a) 4.84 3.54 4.55
- From Discontinued Operations -- -- --
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- Total 4.84 3.54 4.55
Distributions to Common Shareholders:
Quarterly Cash Dividends - Per Share 1.30 1.23 1.20
- Total 15.5 14.8 14.4
Special Dividends - Per Share -- -- 2.70 (b)
- Total -- -- 32.4 (b)
Spin-off of Securities - Per Share -- -- --
- Total -- -- --
Repurchase (Sale) of Common Shares 10.7 -- --
Capital Expenditures (c) 22.5 10.9 5.0
AT YEAR-END
Cash and Marketable Securities 148.8 141.4 161.0
Total Assests 644.6 608.6 549.1
Long-Term Obligations Effectively Serviced (c) 76.3 84.2 88.6
Shareholders' Equity 342.6 311.4 280.4
Book Value Per Common Share 28.96 25.74 23.25
Market Value Per Common Share 41.00 37.00 37.38
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IRON ORE PRODUCTION AND SALES STATISTICS (MILLIONS OF GROSS TONS)
Production From Mines Managed by Cliffs:
North America 39.6 35.2 32.3
Australia 1.5 1.5 1.5
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Total 41.1 36.7 33.8
Cliffs' Share 11.3 8.3 6.8
Cliffs' Sales From:
North American Mines 10.4 8.2 6.4
Austalian Mine 1.5 1.5 1.4
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Total 11.9 9.7 7.8
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OTHER INFORMATION
Common Shares Outstanding (Millions) - Average For Year 11.9 12.1 12.0
Common Shares Outstanding (Millions) - At Year End 11.8 12.1 12.1
Common Shares Price Range - High $46-3/4 $45-1/2 $37-1/2
Common Shares Price Range - Low 36-1/8 34 28-3/4
Employees at Year-End (d) 6,224 6,309 5,973
(a) Results include after-tax net contributions of special items and extraordinary charge of $2.4 million in 1995,
recoveries on bankruptcy claims of $23.2 million ($1.93 per share) and $47.1 million ($4.03 per share) in 1993 and
1990, respectively, and a $38.7 million ($3.23 per share) after-tax charge for accounting changes in 1992. In
addition, see notes B and E to the consolidated financial statements.
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1992 1991 1990 1989 1988 1987
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$266.9 $271.6 $272.2 $294.9 $247.9 $303.5
43.8 45.8 37.7 55.6 50.2 40.8
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310.7 317.4 309.9 350.5 298.1 344.3
275.5 275.0 279.7 257.8 227.6 327.5
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35.2 42.4 30.2 92.7 70.5 16.8
(7.9) 53.8 73.8 62.5 42.6 30.2
-- -- -- (1.9) (3.4) (17.5)
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(7.9) 53.8 73.8 60.6 39.2 12.7
(.66) 4.55 6.31 5.37 3.12 1.88
-- -- -- (.17) (.26) (1.31)
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(.66) 4.55 6.31 5.20 2.86 .57
1.18 1.03 .80 .40 -- --
14.1 12.1 9.3 4.7 -- --
-- 4.00 -- -- .79 (b) --
-- 47.0 -- -- 12.8 (b) --
-- -- -- -- 3.55 (b) --
-- -- -- -- 41.3 (b) --
-- -- -- -- 125.2 (62.4)
5.2 7.3 11.2 14.6 8.4 2.0
128.6 95.9 96.0 95.5 52.4 109.8
537.2 478.7 510.9 415.2 390.6 665.6
92.1 65.0 82.4 93.4 145.7 183.5
269.5 290.8 290.8 226.0 168.6 395.4
22.47 24.40 24.88 19.36 14.53 21.02
35.63 36.13 27.13 29.00 26.63 14.88
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32.9 32.1 31.7 39.3 39.0 34.3
1.5 1.3 2.2 2.3 2.4 2.0
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34.4 33.4 33.9 41.6 41.4 36.3
7.3 7.0 6.6 8.9 9.1 5.0
6.0 6.0 6.5 7.5 6.7 5.5
1.3 1.3 0.3 -- -- --
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7.3 7.3 6.8 7.5 6.7 5.5
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12.0 11.8 11.7 11.6 13.2 13.4
12.0 11.9 11.7 11.7 11.6 16.4
$40-3/8 $36-1/2 $35 $34 $28 $21-3/8
29-1/2 25 19-5/8 25-3/4 14-1/4 9-1/4
6,388 6,500 6,695 7,522 7,638 8,328
(b) Includes securities at market value on distribution date.
(c) Includes Cliffs' share of associated companies and equipment acquired on operating leases.
(d) Includes employees of managed mining ventures.
At December 31, 1995, the Company had 3,185 shareholders of record.
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