SEGMENT REPORTING (Tables)

6 Months Ended

Jun. 30, 2022

Segment Reporting [Abstract]

Schedule Of Segment Reporting Information

Our results by segment are as follows:

	(In Millions)
	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Revenues:
Steelmaking	$	6,176	$	4,922	$	11,970	$	8,841
Other Businesses	161		123		322		253
Total revenues	$	6,337	$	5,045	$	12,292	$	9,094
Adjusted EBITDA:
Steelmaking	$	1,108	$	1,360	$	2,531	$	1,862
Other Businesses	20		8		49		19
Eliminations1	2		(8)		1		(8)
Total Adjusted EBITDA	$	1,130	$	1,360	$	2,581	$	1,873
1 In 2022, we began allocating Corporate SG&A to our operating segments. Prior periods have been adjusted to reflect this change. The Eliminations line now only includes sales between segments.

The following table provides a reconciliation of our consolidated Net income to total Adjusted EBITDA:

	(In Millions)
	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Net income	$	601	$	795	$	1,415	$	852
Less:
Interest expense, net	(64)		(85)		(141)		(177)
Income tax expense	(157)		(216)		(394)		(225)
Depreciation, depletion and amortization	(250)		(208)		(551)		(425)
	1,072		1,304		2,501		1,679
Less:
EBITDA of noncontrolling interests1	13		21		35		43
Asset impairment	—		—		(29)		—
Loss on extinguishment of debt	(66)		(22)		(80)		(88)
Severance costs	(6)		(1)		(7)		(12)
Acquisition-related costs excluding severance costs	—		—		(1)		(2)
Acquisition-related loss on equity method investment	—		(18)		—		(18)
Amortization of inventory step-up	—		(37)		—		(118)
Impact of discontinued operations	1		1		2		1
Total Adjusted EBITDA	$	1,130	$	1,360	$	2,581	$	1,873
1 EBITDA of noncontrolling interests includes the following:
Net income attributable to noncontrolling interests	$	5	$	15	$	18	$	31
Depreciation, depletion and amortization	8		6		17		12
EBITDA of noncontrolling interests	$	13	$	21	$	35	$	43

The following table summarizes our capital additions by segment:

	(In Millions)
	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Capital additions1:
Steelmaking	$	297	$	146	$	472	$	279
Other Businesses	9		21		15		32
Corporate	2		—		2		18
Total capital additions	$	308	$	167	$	489	$	329
1 Refer to NOTE 2 - SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION for additional information.

Reconciliation of Assets from Segment to Consolidated

The following summarizes our assets by segment:

	(In Millions)
	June 30, 2022		December 31, 2021
Assets:
Steelmaking	$	19,259	$	18,326
Other Businesses	322		306
Total segment assets	19,581		18,632
Corporate/Eliminations	458		343
Total assets	$	20,039	$	18,975