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Quarterly report [Sections 13 or 15(d)]

GOODWILL AND INTANGIBLE ASSETS AND LIABILITIES (Tables)

v3.25.1
GOODWILL AND INTANGIBLE ASSETS AND LIABILITIES (Tables)
 3 Months Ended
Mar. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract] Ìý
Schedule of Goodwill
The following is a summary of Goodwill by segment:
(In millions) March 31,
2025		 December 31,
2024
Steelmaking $ 1,718Ìý $ 1,719Ìý
Other Businesses 49Ìý 49Ìý
Total goodwill $ 1,767Ìý $ 1,768Ìý
The decrease of $1 million in the balance of Goodwill in our Steelmaking segment as of MarchÌý31, 2025, compared to DecemberÌý31, 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.
Schedule of Intangible Assets and Liabilities
The following is a summary of our intangible assets and liabilities:
MarchÌý31, 2025
DecemberÌý31, 2024
(In millions) Gross Amount Accumulated Amortization Net Amount Gross Amount Accumulated Amortization Net Amount
Intangible assets1:
Customer relationships $ 1,014Ìý $ (51) $ 963Ìý $ 1,015Ìý $ (34) $ 981Ìý
Developed technology 60Ìý (18) 42Ìý 60Ìý (17) 43Ìý
Trade names and trademarks 87Ìý (9) 78Ìý 87Ìý (8) 79Ìý
Mining permits 72Ìý (29) 43Ìý 72Ìý (29) 43Ìý
Supplier relationships 29Ìý (5) 24Ìý 29Ìý (5) 24Ìý
Total intangible assets $ 1,262Ìý $ (112) $ 1,150Ìý $ 1,263Ìý $ (93) $ 1,170Ìý
Intangible liabilities2:
Above-market supply contracts $ (71) $ 31Ìý $ (40) $ (71) $ 30Ìý $ (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.