Quarterly report [Sections 13 or 15(d)]

SEGMENT REPORTING (Tables)

v3.26.3
SEGMENT REPORTING (Tables)
 9 Months Ended
Sep. 30, 2026
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 September 30, 2026
(In millions) Steelmaking Other Businesses Eliminations Total
Revenues $ 5,492  $ 169  $ (49) $ 5,612 
Cost of goods sold (5,036) (158) 47  (5,147)
Selling, general and administrative expenses (145) (8) —  (153)
Net periodic benefit credits other than service cost component 64  —  —  64 
Excluding depreciation, depletion and amortization 250  9  —  259 
Other segment items1
(24) 1  —  (23)
Total Adjusted EBITDA $ 601  $ 13  $ (2) $ 612 
Interest expense, net (148)
Income tax expense (46)
Depreciation, depletion and amortization (259)
EBITDA from noncontrolling interests2
19 
Idled facilities charges (4)
Currency exchange (4)
Changes in fair value of derivatives, net (15)
Gain on disposal of assets, net 14 
Severance (2)
Other, net (2)
Net income $ 165 
Capital Additions $ 207  $ 1  $ —  $ 208 
1 Other segment items primarily consist of the exclusion of EBITDA from noncontrolling interests and certain idled facilities amounts and the inclusion of certain items within Miscellaneous, net and Other non-operating income.
2 EBITDA from noncontrolling interests includes net income attributable to noncontrolling interests of $13 million and the exclusion of depreciation, depletion and amortization of $6 million.
Three Months Ended September 30, 2025
(In millions) Steelmaking Other Businesses Eliminations Total
Revenues $ 4,585  $ 173  $ (24) $ 4,734 
Cost of goods sold (4,643) (163) 26  (4,780)
Selling, general and administrative expenses (123) (7) —  (130)
Net periodic benefit credits other than service cost component 57  —  —  57 
Excluding depreciation, depletion and amortization 279  9  —  288 
Other segment items1
(26) —  —  (26)
Total Adjusted EBITDA $ 129  $ 12  $ 2  $ 143 
Interest expense, net (153)
Income tax benefit 78 
Depreciation, depletion and amortization (288)
EBITDA from noncontrolling interests2
23 
Idled facilities credits 3 
Currency exchange (20)
Changes in fair value of derivatives, net (10)
Loss on disposal of assets, net (2)
Severance (5)
Other, net (3)
Net loss $ (234)
Capital Additions $ 205  $ 2  $ —  $ 207 
1 Other segment items primarily consist of the exclusion of EBITDA from noncontrolling interests and certain idled facilities amounts and the inclusion of certain items within Miscellaneous, net and Other non-operating income.
2 EBITDA from noncontrolling interests includes net income attributable to noncontrolling interests of $17 million and the exclusion of depreciation, depletion and amortization of $6 million.
Nine Months Ended September 30, 2026
(In millions) Steelmaking Other Businesses Eliminations Total
Revenues $ 15,385  $ 513  $ (138) $ 15,760 
Cost of goods sold (14,911) (470) 136  (15,245)
Selling, general and administrative expenses (409) (23) —  (432)
Net periodic benefit credits other than service cost component 192  —  —  192 
Excluding depreciation, depletion and amortization 755  25  —  780 
Other segment items1
(63) 1  —  (62)
Total Adjusted EBITDA $ 949  $ 46  $ (2) $ 993 
Interest expense, net (452)
Income tax benefit 55 
Depreciation, depletion and amortization (780)
EBITDA from noncontrolling interests2
50 
Idled facilities credits 1 
Currency exchange (37)
Changes in fair value of derivatives, net (37)
Gain on disposal of assets, net 23 
Severance (3)
Other, net (11)
Net loss $ (198)
Capital Additions $ 518  $ 5  $ —  $ 523 
1 Other segment items primarily consist of the exclusion of EBITDA from noncontrolling interests and certain idled facilities amounts and the inclusion of certain items within Miscellaneous, net and Other non-operating income.
2 EBITDA from noncontrolling interests includes net income attributable to noncontrolling interests of $32 million and the exclusion of depreciation, depletion and amortization of $18 million.
Nine Months Ended September 30, 2025
(In millions) Steelmaking Other Businesses Eliminations Total
Revenues $ 13,888  $ 498  $ (89) $ 14,297 
Cost of goods sold (14,577) (463) 89  (14,951)
Selling, general and administrative expenses (379) (21) —  (400)
Net periodic benefit credits other than service cost component 157  —  —  157 
Excluding depreciation, depletion and amortization 939  24  —  963 
Other segment items1
(8) —  —  (8)
Total Adjusted EBITDA $ 20  $ 38  $ —  $ 58 
Interest expense, net (442)
Income tax benefit 375 
Depreciation, depletion and amortization (963)
EBITDA from noncontrolling interests2
61 
Idled facilities charges (245)
Currency exchange 26 
Changes in fair value of derivatives, net (34)
Loss on disposal of assets, net (6)
Amortization of inventory step-up
 6 
Severance (25)
Other, net (4)
Net loss $ (1,193)
Capital Additions $ 478  $ 10  $ —  $ 488 
1 Other segment items primarily consist of the exclusion of EBITDA from noncontrolling interests and certain idled facilities amounts and the inclusion of certain items within Miscellaneous, net and Other non-operating income.
2 EBITDA from noncontrolling interests includes net income attributable to noncontrolling interests of $42 million and the exclusion of depreciation, depletion and amortization of $19 million.
Segment Reporting, Reconciliation of Asset by Segment to Consolidated
The following summarizes our assets by segment:
(In millions) September 30,
2026		 December 31,
2025
Assets:
Steelmaking $ 19,761  $ 19,416 
Other Businesses 581  596 
Total segment assets $ 20,342  $ 20,012