Annual report pursuant to Section 13 and 15(d)

SEGMENT REPORTING (Tables)

v3.20.4
SEGMENT REPORTING (Tables)
12 Months Ended
Dec. 31, 2020
Segment Reporting [Abstract]  
Schedule Of Segment Reporting Information, By Segment
Our results by segment are as follows:
(In Millions)
Year Ended December 31,
2020 2019 2018
Revenues:
Steelmaking1
$ 4,965  $ 1,990  $ 2,332 
Other Businesses 389  —  — 
Total revenues $ 5,354  $ 1,990  $ 2,332 
Adjusted EBITDA:
Steelmaking $ 433  $ 636  $ 872 
Other Businesses 47  —  — 
Corporate and eliminations (127) (111) (106)
Total Adjusted EBITDA $ 353  $ 525  $ 766 
1 Includes Realization of deferred revenue of $35 million for the year ended December 31, 2020.
The following table provides a reconciliation of our consolidated Net income (loss) to total Adjusted EBITDA:
(In Millions)
Year Ended December 31,
2020 2019 2018
Net income (loss) $ (81) $ 293  $ 1,128 
Less:
Interest expense, net (238) (101) (121)
Income tax benefit (expense) 111  (18) 460 
Depreciation, depletion and amortization (308) (85) (89)
354  497  878 
Less:
EBITDA from noncontrolling interests1
56  —  — 
Gain (loss) on extinguishment of debt 130  (18) (7)
Severance costs (38) (2) — 
Acquisition-related costs excluding severance costs (52) (7) — 
Amortization of inventory step-up (96) —  — 
Impact of discontinued operations 1  (1) 121 
Foreign exchange remeasurement   —  (1)
Impairment of other long-lived assets   —  (1)
Total Adjusted EBITDA $ 353  $ 525  $ 766 
1 EBITDA of noncontrolling interests includes $41 million for income and $15 million for depreciation, depletion and amortization for the year ended December 31, 2020.
The following table summarizes our depreciation, depletion and amortization and capital additions by segment:
(In Millions)
Year Ended December 31,
2020 2019 2018
Depreciation, depletion and amortization:
Steelmaking $ 276  $ 80  $ 68 
Other Businesses 27  —  — 
Corporate 5 
Total depreciation, depletion and amortization $ 308  $ 85  $ 74 
Capital additions1:
Steelmaking $ 436  $ 687  $ 393 
Other Businesses 45  —  — 
Corporate 2 
Total capital additions $ 483  $ 690  $ 395 
1 Refer to NOTE 2 - SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION for additional information.
Summary of Assets by Segment
The following summarizes our assets by segment:
(In Millions)
December 31,
2020 2019
Assets:
Steelmaking $ 15,849  $ 2,557 
Other Businesses 239  — 
Total segment assets 16,088  2,557 
Corporate 683  947 
Total assets $ 16,771  $ 3,504 
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas
Included in the consolidated financial statements are the following amounts relating to geographic location based on product destination:
(In Millions)
2020 2019 2018
Revenues:
United States $ 4,580  $ 1,505  $ 1,847 
Canada 602  448  395 
Other countries 172  37  90 
Total revenues $ 5,354  $ 1,990  $ 2,332 
Property, plant and equipment, net:
United States $ 8,647  $ 1,929  $ 1,286 
Canada 91  —  — 
Other countries 5  —  — 
Total property, plant and equipment, net $ 8,743  $ 1,929  $ 1,286