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Investments, Long-Term Receivables and Equity Investee Transactions (Tables)
 12 Months Ended
Dec. 31, 2021
Equity Method Investments and Joint Ventures [Abstract]  
Investments and Long-Term Receivables Investments, Long-Term Receivables and Equity Investee Transactions
December 31,
(In millions)20212020
Equity method investments$660 $1,140 
Receivables due after one year, less allowance of $4 and $5
31 34 
Other3 3 
Total$694 $1,177 
Summarized Financial Information of Investees Accounted for by Equity Method of Accounting
Summarized financial information of all investees accounted for by the equity method of accounting is as follows (amounts represent 100% of investee financial information):
(In millions)202120202019
Income data – year ended December 31:
Net Sales$2,229 $2,485 $2,528 
Operating income376 12 253 
Net earnings346 (124)235 
Balance sheet date – December 31:
Current Assets$744 $960 $1,144 
Noncurrent Assets1,084 3,101 2,976 
Current liabilities293 419 573 
Noncurrent Liabilities529 3,063 2,542 
Investees Accounted for using Equity Method
All of our significant investees are located in the U.S. Investees accounted for using the equity method include:
InvesteeDecember 31, 2021 Interest
Chrome Deposit Corporation50 %
Daniel Ross Bridge, LLC50 %
Double G Coatings Company, Inc.50 %
Hibbing Development Company24.1 %
Hibbing Taconite Company(a)14.7 %
Patriot Premium Threading Services, LLC50 %
PRO-TEC Coating Company, LLC50 %
Strategic Investment Fund Partners II(b)
5.2 %
Worthington Specialty Processing49 %
(a)Hibbing Taconite Company (Hibbing) is an unincorporated joint venture that is owned, in part, by Hibbing Development Company (HDC), which is accounted for using the equity method. Through HDC we are able to influence the activities of HTC, and as such, its activities are accounted for using the equity method.
(b)Strategic Investment Fund Partners II is a limited partnership and in accordance with ASC Topic 323, the financial activities are accounted for using the equity method.