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SEGMENT REPORTING (Tables)

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Summary of Results by Segment

The following tables provide our results by segment as well as a reconciliation from consolidated Adjusted EBITDA to our consolidated Net income (loss):

			Year Ended December 31, 2024
(In millions)			Steelmaking						Other Businesses						Eliminations						Total
Revenues			$	18,620					$	656					$	(91)					$	19,185
Cost of goods sold			(18,605)						(606)						96						(19,115)
Selling, general and administrative expenses			(457)						(29)						—						(486)
Net periodic benefit credits other than service cost component			247						—						—						247
Excluding depreciation, depletion and amortization			919						32						—						951
Other segment items1			(2)						—						—						(2)
Total Adjusted EBITDA			$	722					$	53					$	5					$	780
Interest expense, net																					$	(370)
Income tax benefit																					235
Depreciation, depletion and amortization																					(951)
EBITDA from noncontrolling interests2																					76
Weirton indefinite idle																					(217)
Arbitration decision																					(71)
Acquisition-related costs																					(44)
Changes in fair value of derivatives, net																					(41)
Loss on extinguishment of debt																					(27)
Amortization of inventory step-up																					(26)
Loss on currency exchange																					(20)
Loss on disposal of assets																					(16)
Other, net																					(16)
Net loss																					$	(708)
Capital Additions			$	812					$	5					$	—					$	817
Assets			$	20,327					$	620					$	—					$	20,947
1 Other segment items primarily consists of the exclusion of EBITDA of noncontrolling interests and the Arbitration decision from Adjusted EBITDA and, to a lesser extent, the inclusion of items within Miscellaneous – net and Other non-operating income (loss).
2 EBITDA of noncontrolling interests includes net income attributable to noncontrolling interests of $46 million and the exclusion of depreciation, depletion, and amortization of $30 million.

			Year Ended December 31, 2023
(In millions)			Steelmaking						Other Businesses						Eliminations						Total
Revenues			$	21,413					$	665					$	(82)					$	21,996
Cost of goods sold			(20,055)						(627)						77						(20,605)
Selling, general and administrative expenses			(549)						(28)						—						(577)
Net periodic benefit credits other than service cost component			204						—						—						204
Excluding depreciation, depletion and amortization			938						35						—						973
Other segment items1			(78)						(2)						—						(80)
Total Adjusted EBITDA			$	1,873					$	43					$	(5)					$	1,911
Interest expense, net																					$	(289)
Income tax expense																					(148)
Depreciation, depletion and amortization																					(973)
EBITDA from noncontrolling interests2																					83
Acquisition-related costs																					(12)
Loss on disposal of assets																					(15)
Goodwill impairment																					(125)
Other, net																					18
Net income																					$	450
Capital Additions			$	782					$	3					$	—					$	785
Assets			$	16,880					$	657					$	—					$	17,537
1 Other segment items primarily consists of the exclusion of EBITDA of noncontrolling interests from Adjusted EBITDA and, to a lesser extent, the inclusion of items within Miscellaneous – net and Other non-operating income (loss).
2 EBITDA of noncontrolling interests includes net income attributable to noncontrolling interests of $51 million and the exclusion of depreciation, depletion, and amortization of $32 million.

			Year Ended December 31, 2022
(In millions)			Steelmaking						Other Businesses						Eliminations						Total
Revenues			$	22,462					$	606					$	(79)					$	22,989
Cost of goods sold			(20,004)						(557)						90						(20,471)
Selling, general and administrative expenses			(439)						(26)						—						(465)
Net periodic benefit credits other than service cost component			212						—						—						212
Excluding depreciation, depletion and amortization			994						40						—						1,034
Other segment items1			(136)						6						—						(130)
Total Adjusted EBITDA			$	3,089					$	69					$	11					$	3,169
Interest expense, net																					$	(276)
Income tax expense																					(423)
Depreciation, depletion and amortization																					(1,034)
EBITDA from noncontrolling interests2																					74
Acquisition-related costs																					(1)
Loss on extinguishment of debt																					(75)
Loss on disposal of assets																					(22)
Other, net																					(36)
Net income																					$	1,376
Capital Additions			$	1,003					$	30					$	—					$	1,033
Assets			$	17,918					$	837					$	—					$	18,755
1 Other segment items primarily consists of the exclusion of EBITDA of noncontrolling interests from Adjusted EBITDA and, to a lesser extent, the inclusion of items within Miscellaneous – net and Other non-operating income (loss).
2 EBITDA of noncontrolling interests includes net income attributable to noncontrolling interests of $41 million and the exclusion of depreciation, depletion, and amortization of $33 million.

Summary of Amounts Relating to Geographic Location

Included in the consolidated financial statements are the following amounts relating to geographic location based on product destination:

			Year Ended December 31,
(In millions)			2024						2023						2022
Revenues:
United States			$	17,340					$	20,000					$	20,991
Canada			1,067						1,046						963
Other countries			778						950						1,035
Total revenues			$	19,185					$	21,996					$	22,989
Property, plant and equipment, net:
United States			$	8,622					$	8,816					$	8,981
Canada			1,319						78						88
Other countries			1						1						1
Total property, plant and equipment, net			$	9,942					$	8,895					$	9,070

X

- 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
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(1))
-Publisher FASB
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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

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