Quarterly report [Sections 13 or 15(d)]

SEGMENT REPORTING (Tables)

v3.25.1
SEGMENT REPORTING (Tables)
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Schedule Of Segment Reporting Information
The following tables provide our results by segment as well as a reconciliation from consolidated Adjusted EBITDA to our consolidated Net income (loss):
Three Months Ended March 31, 2025
(In millions) Steelmaking Other Businesses Eliminations Total
Revenues $ 4,495  $ 162  $ (28) $ 4,629 
Cost of goods sold (4,895) (153) 28  (5,020)
Selling, general and administrative expenses (126) (7) —  (133)
Net periodic benefit credits other than service cost component 57  —  —  57 
Excluding depreciation, depletion and amortization 274  8  —  282 
Other segment items1
11  —  —  11 
Total Adjusted EBITDA $ (184) $ 10  $ —  $ (174)
Interest expense, net (140)
Income tax benefit 147 
Depreciation, depletion and amortization (282)
EBITDA from noncontrolling interests2
18 
Weirton indefinite idle (3)
Idled facilities employment charges (41)
Changes in fair value of derivatives, net (9)
Amortization of inventory step-up 7 
Other, net (6)
Net loss $ (483)
Capital Additions $ 123  $ 6  $ —  $ 129 
1 Other segment items primarily consists of the exclusion of EBITDA of noncontrolling interests and idled facilities employment charges from Adjusted EBITDA and the inclusion of items within Miscellaneous – net and Other non-operating income (loss).
2 EBITDA of noncontrolling interests includes net income attributable to noncontrolling interests of $12 million and the exclusion of depreciation, depletion, and amortization of $6 million.
Three Months Ended March 31, 2024
(In millions) Steelmaking Other Businesses Eliminations Total
Revenues $ 5,053  $ 172  $ (26) $ 5,199 
Cost of goods sold (4,785) (157) 28  (4,914)
Selling, general and administrative expenses (125) (7) —  (132)
Net periodic benefit credits other than service cost component 60  —  —  60 
Excluding depreciation, depletion and amortization 222  8  —  230 
Other segment items1
(30) 1  —  (29)
Total Adjusted EBITDA $ 395  $ 17  $ 2  $ 414 
Interest expense, net (64)
Income tax benefit 8 
Depreciation, depletion and amortization (230)
EBITDA from noncontrolling interests2
21 
Weirton indefinite idle (177)
Loss on extinguishment of debt (21)
Other, net (4)
Net loss $ (53)
Capital Additions $ 156  $ 1  $ —  $ 157 
1 Other segment items primarily consists of the exclusion of EBITDA of noncontrolling interests from Adjusted EBITDA and the inclusion of items within Miscellaneous – net and Other non-operating income (loss).
2 EBITDA of noncontrolling interests includes net income attributable to noncontrolling interests of $14 million and the exclusion of depreciation, depletion, and amortization of $7 million.
Reconciliation of Assets from Segment to Consolidated
The following summarizes our assets by segment:
(In millions) March 31,
2025		 December 31,
2024
Assets:
Steelmaking $ 20,200  $ 20,327 
Other Businesses 636  620 
Total segment assets $ 20,836  $ 20,947