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

ASSET RETIREMENT OBLIGATIONS (Tables)

v3.25.4
ASSET RETIREMENT OBLIGATIONS (Tables)
12 Months Ended
Dec. 31, 2025
Environmental Remediation Obligations [Abstract]  
Schedule of Asset Retirement Obligations
The following is a summary of our asset retirement obligations:
December 31,
(In millions) 2025 2024
Asset retirement obligations1
$ 599  $ 526 
Less: current portion 18  25 
Long-term asset retirement obligations $ 581  $ 501 
1 Includes $375 million and $302 million related to our active operations as of December 31, 2025 and 2024, respectively.
Roll-forward of Asset Retirement Obligation Liability
The following is a roll-forward of our asset retirement obligation:
(In millions) 2025 2024
Asset retirement obligation as of January 1 $ 526  $ 459 
Increase from Stelco Acquisition 18  20 
Accretion expense 30  22 
Remediation payments (19) (33)
Revision in estimated cash flows 44  58 
Asset retirement obligation as of December 31 $ 599  $ 526 
Schedule of Environmental Obligations
The following is a summary of our environmental obligations:
December 31,
(In millions) 2025 2024
Environmental obligations $ 112  $ 114 
Less: current portion 11  14 
Long-term environmental obligations $ 101  $ 100