Annual report [Section 13 and 15(d), not S-K Item 405]

GOODWILL AND INTANGIBLE ASSETS AND LIABILITIES (Tables)

v3.25.4
GOODWILL AND INTANGIBLE ASSETS AND LIABILITIES (Tables)
 12 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill by Segment
The following table summarizes the changes in Goodwill by segment:
December 31, 2025 December 31, 2024
(In millions) Steelmaking Other Businesses Total Steelmaking Other Businesses Total
Beginning balance $ 1,719  $ 49  $ 1,768  $ 956  $ 49  $ 1,005 
Stelco Acquisition1
16  —  16  786  —  786 
Sale of business (6) —  (6) —  —  — 
Foreign currency translation 36  —  36  (23) —  (23)
Ending balance $ 1,765  $ 49  $ 1,814  $ 1,719  $ 49  $ 1,768 
1Refer to NOTE 3 - ACQUISITIONS for further details.
Summary of Intangible Assets and Liabilities
The following is a summary of our intangible assets and liabilities:
December 31, 2025 December 31, 2024
(In millions) Gross Amount Accumulated Amortization Net Amount Gross Amount Accumulated Amortization Net Amount
Intangible assets1:
Customer relationships $ 1,058  $ (104) $ 954  $ 1,015  $ (34) $ 981 
Developed technology 60  (21) 39  60  (17) 43 
Trade names and trademarks 91  (14) 77  87  (8) 79 
Mining permits 72  (30) 42  72  (29) 43 
Supplier relationships 29  (6) 23  29  (5) 24 
Total intangible assets $ 1,310  $ (175) $ 1,135  $ 1,263  $ (93) $ 1,170 
Intangible liabilities2:
Above-market supply contracts $ (71) $ 35  $ (36) $ (71) $ 30  $ (41)
1 Amortization related to mining permits is recognized in Cost of goods sold. Amortization of all other intangible assets is recognized in Selling, general and administrative expenses.
2 Intangible liabilities are classified as Other non-current liabilities. Amortization of all intangible liabilities is recognized in Cost of goods sold.