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SEGMENT REPORTING (Tables) | 12 Months Ended
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Dec. 31, 2020
Segment Reporting [Abstract] |
Schedule Of Segment Reporting Information, By Segment | Our results by segment are as follows:
| (In Millions)
| Year Ended December 31,
| 2020 |  | 2019 |  | 2018
Revenues: |  |  |  |  |
Steelmaking 1 | $ | 4,965 |  |  | $ | 1,990 |  |  | $ | 2,332 |
Other Businesses | 389 |  |  | — |  |  | — |
Total revenues | $ | 5,354 |  |  | $ | 1,990 |  |  | $ | 2,332 |
Adjusted EBITDA: |  |  |  |  |
Steelmaking | $ | 433 |  |  | $ | 636 |  |  | $ | 872 |
Other Businesses | 47 |  |  | — |  |  | — |
Corporate and eliminations | (127) |  |  | (111) |  |  | (106) |
Total Adjusted EBITDA | $ | 353 |  |  | $ | 525 |  |  | $ | 766 |
1 Includes Realization of deferred revenue of $35 million for the year ended December 31, 2020.
The following table provides a reconciliation of our consolidated Net income (loss) to total Adjusted EBITDA:
| (In Millions)
| Year Ended December 31,
| 2020 |  | 2019 |  | 2018
Net income (loss) | $ | (81) |  |  | $ | 293 |  |  | $ | 1,128 |
Less: |  |  |  |  |
Interest expense, net | (238) |  |  | (101) |  |  | (121) |
Income tax benefit (expense) | 111 |  |  | (18) |  |  | 460 |
Depreciation, depletion and amortization | (308) |  |  | (85) |  |  | (89) |
| 354 |  |  | 497 |  |  | 878 |
Less: |  |  |  |  |
EBITDA from noncontrolling interests 1 | 56 |  |  | — |  |  | — |
Gain (loss) on extinguishment of debt | 130 |  |  | (18) |  |  | (7) |
Severance costs | (38) |  |  | (2) |  |  | — |
Acquisition-related costs excluding severance costs | (52) |  |  | (7) |  |  | — |
Amortization of inventory step-up | (96) |  |  | — |  |  | — |
Impact of discontinued operations | 1 |  |  | (1) |  |  | 121 |
Foreign exchange remeasurement | — |  |  | — |  |  | (1) |
Impairment of other long-lived assets | — |  |  | — |  |  | (1) |
Total Adjusted EBITDA | $ | 353 |  |  | $ | 525 |  |  | $ | 766 |
1 EBITDA of noncontrolling interests includes $41 million for income and $15 million for depreciation, depletion and amortization for the year ended December 31, 2020.
The following table summarizes our depreciation, depletion and amortization and capital additions by segment:
| (In Millions)
| Year Ended December 31,
| 2020 |  | 2019 |  | 2018
Depreciation, depletion and amortization: |  |  |  |  |
Steelmaking | $ | 276 |  |  | $ | 80 |  |  | $ | 68 |
Other Businesses | 27 |  |  | — |  |  | — |
Corporate | 5 |  |  | 5 |  |  | 6 |
Total depreciation, depletion and amortization | $ | 308 |  |  | $ | 85 |  |  | $ | 74 |
Capital additions 1: |  |  |  |  |
Steelmaking | $ | 436 |  |  | $ | 687 |  |  | $ | 393 |
Other Businesses | 45 |  |  | — |  |  | — |
Corporate | 2 |  |  | 3 |  |  | 2 |
Total capital additions | $ | 483 |  |  | $ | 690 |  |  | $ | 395 |
1 Refer to NOTE 2 - SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION for additional information.
Summary of Assets by Segment | The following summarizes our assets by segment:
| (In Millions)
| December 31,
| 2020 |  | 2019
Assets: |  |  |
Steelmaking | $ | 15,849 |  |  | $ | 2,557 |
Other Businesses | 239 |  |  | — |
Total segment assets | 16,088 |  |  | 2,557 |
Corporate | 683 |  |  | 947 |
Total assets | $ | 16,771 |  |  | $ | 3,504 |
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas | Included in the consolidated financial statements are the following amounts relating to geographic location based on product destination:
| (In Millions)
| 2020 |  | 2019 |  | 2018
Revenues: |  |  |  |  |
United States | $ | 4,580 |  |  | $ | 1,505 |  |  | $ | 1,847 |
Canada | 602 |  |  | 448 |  |  | 395 |
Other countries | 172 |  |  | 37 |  |  | 90 |
Total revenues | $ | 5,354 |  |  | $ | 1,990 |  |  | $ | 2,332 |
Property, plant and equipment, net: |  |  |  |  |
United States | $ | 8,647 |  |  | $ | 1,929 |  |  | $ | 1,286 |
Canada | 91 |  |  | — |  |  | — |
Other countries | 5 |  |  | — |  |  | — |
Total property, plant and equipment, net | $ | 8,743 |  |  | $ | 1,929 |  |  | $ | 1,286 |

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- Definition Tabular disclosure of information concerning material long-lived assets (excluding financial instruments, customer relationships with financial institutions, mortgage and other servicing rights, deferred policy acquisition costs, and deferred taxes assets) located in identified geographic areas and/or the amount of revenue from external customers attributed to that country from which revenue is material. An entity may also provide subtotals of geographic information about groups of countries. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.1) -URI http://asc.fasb.org/extlink&oid=120395209&loc=SL114868664-224227 + Details
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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599 + Details
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