Quarterly report [Sections 13 or 15(d)]

DERIVATIVE INSTRUMENTS AND HEDGING (Tables)

v3.26.1
DERIVATIVE INSTRUMENTS AND HEDGING (Tables)
 3 Months Ended
Mar. 31, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Notional Amounts of Outstanding Derivative Positions
The following table presents the notional amount of our outstanding hedge contracts:
Notional Amount
Hedge Contract Classification Unit of Measure Hedged Periods March 31,
2026		 December 31,
2025
Natural Gas Commodity purchase swaps MMBtu April 2026 - December 2028 137,225,000  139,300,000 
Electricity Commodity purchase swaps Megawatt hours April 2026 - December 2028 1,868,208  1,974,380 
HRC Sales swaps Net tons April 2026 - December 2026 375,300  220,220 
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value
The following table presents the fair value of our outstanding cash flow hedges and the classification in the Statements of Unaudited Condensed Consolidated Financial Position:
Balance Sheet Location (In millions) March 31,
2026		 December 31,
2025
Other current assets $ 13  $ 7 
Other non-current assets 6  10 
Other current liabilities (57) (24)
Other non-current liabilities (6) (2)