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Quarterly report [Sections 13 or 15(d)]

SEGMENT REPORTING (Tables)

v3.25.1
SEGMENT REPORTING (Tables)
3 Months Ended
Mar. 31, 2025
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 March 31, 2025
(In millions) Steelmaking Other Businesses Eliminations Total
Revenues $ 4,495 $ 162 $ (28) $ 4,629
Cost of goods sold (4,895) (153) 28 (5,020)
Selling, general and administrative expenses (126) (7) 鈥� (133)
Net periodic benefit credits other than service cost component 57 鈥� 鈥� 57
Excluding depreciation, depletion and amortization 274 8 鈥� 282
Other segment items1
11 鈥� 鈥� 11
Total Adjusted EBITDA $ (184) $ 10 $ 鈥� $ (174)
Interest expense, net (140)
Income tax benefit 147
Depreciation, depletion and amortization (282)
EBITDA from noncontrolling interests2
18
Weirton indefinite idle (3)
Idled facilities employment charges (41)
Changes in fair value of derivatives, net (9)
Amortization of inventory step-up 7
Other, net (6)
Net loss $ (483)
Capital Additions $ 123 $ 6 $ 鈥� $ 129
1 Other segment items primarily consists of the exclusion of EBITDA of noncontrolling interests and idled facilities employment charges from Adjusted EBITDA and the inclusion of items within Miscellaneous 鈥� net and Other non-operating income (loss).
2 EBITDA of noncontrolling interests includes net income attributable to noncontrolling interests of $12 million and the exclusion of depreciation, depletion, and amortization of $6 million.
Three Months Ended March 31, 2024
(In millions) Steelmaking Other Businesses Eliminations Total
Revenues $ 5,053听 $ 172听 $ (26) $ 5,199听
Cost of goods sold (4,785) (157) 28听 (4,914)
Selling, general and administrative expenses (125) (7) 鈥斕� (132)
Net periodic benefit credits other than service cost component 60听 鈥斕� 鈥斕� 60听
Excluding depreciation, depletion and amortization 222听 8听 鈥斕� 230听
Other segment items1
(30) 1听 鈥� (29)
Total Adjusted EBITDA $ 395听 $ 17听 $ 2听 $ 414听
Interest expense, net (64)
Income tax benefit 8听
Depreciation, depletion and amortization (230)
EBITDA from noncontrolling interests2
21听
Weirton indefinite idle (177)
Loss on extinguishment of debt (21)
Other, net (4)
Net loss $ (53)
Capital Additions $ 156听 $ 1听 $ 鈥斕� $ 157听
1 Other segment items primarily consists of the exclusion of EBITDA of noncontrolling interests from Adjusted EBITDA and the inclusion of items within Miscellaneous 鈥� net and Other non-operating income (loss).
2 EBITDA of noncontrolling interests includes net income attributable to noncontrolling interests of $14 million and the exclusion of depreciation, depletion, and amortization of $7 million.
Reconciliation of Assets from Segment to Consolidated
The following summarizes our assets by segment:
(In millions) March 31,
2025
December 31,
2024
Assets:
Steelmaking $ 20,200 $ 20,327听
Other Businesses 636 620听
Total segment assets $ 20,836 $ 20,947听