Cleveland Cliffs Inc (CLF)

[10nisman]

From CLF’s prospectus filed 2/13/17 (page S-14):

https://www.sec.gov/Archives/edgar/data/764065/000076406517000028/prospectus424b5documentfin.htm
Quote:
As of December 31, 2016, we had gross domestic (including state) and foreign net operating loss carryforwards, inclusive of discontinued operations, of $3.7 billion and $6.9 billion, respectively.

The U.S. federal net operating losses will begin to expire in 2035, and the state net operating losses will begin to expire in 2019. The foreign net operating losses can be carried forward indefinitely.

Additionally, there is a net operating loss carryforward, inclusive of discontinued operations, of $1.4 billion for alternative minimum tax. As of December 31, 2016, we had $251.2 million of gross deferred tax assets related to U.S. alternative minimum tax credits that can be carried forward indefinitely.

The good news is the likelihood of corporate tax reform being passed before CLF has used up most of these NOL carryforwards is low.