XML 40 R14.htm IDEA: XBRL DOCUMENT
v3.25.1

GOODWILL AND INTANGIBLE ASSETS AND LIABILITIES | 3 Months Ended
--- | ---
Mar. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND INTANGIBLE ASSETS AND LIABILITIES | NOTE 7 - GOODWILL AND INTANGIBLE ASSETS AND LIABILITIES GOODWILL The following is a summary of Goodwill by segment:
(In millions) | March 31, 2025 |  | December 31, 2024
Steelmaking | $ | 1,718 |  |  | $ | 1,719 |
Other Businesses | 49 |  |  | 49 |
Total goodwill | $ | 1,767 |  |  | $ | 1,768 |
The decrease of $1 million in the balance of Goodwill in our Steelmaking segment as of March 31, 2025, compared to December 31, 2024, is due to the change in estimated identified goodwill as a result of measurement period adjustments to the preliminary purchase price allocation for the acquisition of Stelco. Refer to NOTE 3 - ACQUISITIONS for further details. INTANGIBLE ASSETS AND LIABILITIES The following is a summary of our intangible assets and liabilities:
| March 31, 2025 |  | December 31, 2024
(In millions) | Gross Amount |  | Accumulated Amortization |  | Net Amount |  | Gross Amount |  | Accumulated Amortization |  | Net Amount
Intangible assets 1: |  |  |  |  |  |  |  |  |  |  |
Customer relationships | $ | 1,014 |  |  | $ | (51) |  |  | $ | 963 |  |  | $ | 1,015 |  |  | $ | (34) |  |  | $ | 981 |
Developed technology | 60 |  |  | (18) |  |  | 42 |  |  | 60 |  |  | (17) |  |  | 43 |
Trade names and trademarks | 87 |  |  | (9) |  |  | 78 |  |  | 87 |  |  | (8) |  |  | 79 |
Mining permits | 72 |  |  | (29) |  |  | 43 |  |  | 72 |  |  | (29) |  |  | 43 |
Supplier relationships | 29 |  |  | (5) |  |  | 24 |  |  | 29 |  |  | (5) |  |  | 24 |
Total intangible assets | $ | 1,262 |  |  | $ | (112) |  |  | $ | 1,150 |  |  | $ | 1,263 |  |  | $ | (93) |  |  | $ | 1,170 |
Intangible liabilities 2: |  |  |  |  |  |  |  |  |  |  |
Above-market supply contracts | $ | (71) |  |  | $ | 31 |  |  | $ | (40) |  |  | $ | (71) |  |  | $ | 30 |  |  | $ | (41) |
1 Intangible assets are classified as Other non-current assets. Amortization related to mining permits and supplier relationships is recognized in Cost of goods sold. Amortization of all other intangible assets is recognized in Selling, general and administrative expenses.
2 Intangible liabilities are classified as Other non-current liabilities. Amortization of all intangible liabilities is recognized in Cost of goods sold.
Amortization expense related to Intangible assets was $19 million and $4 million for the three months ended March 31, 2025 and 2024, respectively. Estimated future amortization expense is $59 million for the remainder of 2025 and $79 million annually for the years 2026 through 2030. Income from amortization related to the intangible liabilities was $1 million for each of the three months ended March 31, 2025 and 2024. Estimated future income from amortization is $4 million for the remainder of 2025 and $5 million annually for the years 2026 through 2030.

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration