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SEGMENT REPORTING (Tables)
9 Months Ended
Sep. 30, 2024
Segment Reporting [Abstract]  
Schedule Of Segment Reporting Information
Our results by segment are as follows:
Three Months Ended
September 30,
Nine Months Ended
September 30,
(In millions)2024202320242023
Revenues:
Steelmaking$4,419 $5,443 $14,361 $16,377 
Other Businesses150 162 499 507 
Total revenues$4,569 $5,605 $14,860 $16,884 
Adjusted EBITDA:
Steelmaking$113 $603 $814 $1,608 
Other Businesses8 43 32 
Eliminations3 4 (8)
Total Adjusted EBITDA$124 $614 $861 $1,632 
The following table provides a reconciliation of our consolidated Net income (loss) to total Adjusted EBITDA:
Three Months Ended
September 30,
Nine Months Ended
September 30,
(In millions)2024202320242023
Net income (loss)$(230)$275 $(274)$589 
Less:
Interest expense, net(102)(70)(235)(226)
Income tax benefit (expense)76 (29)99 (118)
Depreciation, depletion and amortization(235)(249)(693)(738)
Total EBITDA31 623 555 1,671 
Less:
EBITDA of noncontrolling interests1
20 20 56 60 
Weirton indefinite idle2
(2)— (219)— 
Loss on extinguishment of debt — (27)— 
Acquisition-related costs(14)(3)(14)(5)
Changes in fair value of foreign currency contracts, net(7)— (7)— 
Arbitration decision(71)— (71)— 
Other, net(19)(8)(24)(16)
Total Adjusted EBITDA$124 $614 $861 $1,632 
1 EBITDA of noncontrolling interests includes the following:
Net income attributable to noncontrolling interests$12 $11 $33 $35 
Depreciation, depletion and amortization8 23 25 
EBITDA of noncontrolling interests$20 $20 $56 $60 
2 Refer to NOTE 2 - SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION for further information.
The following table summarizes our depreciation, depletion and amortization and capital additions by segment:
Three Months Ended
September 30,
Nine Months Ended
September 30,
(In millions)2024202320242023
Depreciation, depletion and amortization:
Steelmaking$(228)$(241)$(669)$(711)
Other Businesses(7)(8)(24)(27)
Total depreciation, depletion and amortization$(235)$(249)$(693)$(738)
Capital additions1:
Steelmaking$211 $217 $554 $503 
Other Businesses — 3 
Corporate  
Total capital additions$211 $218 $557 $508 
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)September 30,
2024
December 31,
2023
Assets:
Steelmaking$16,235 $16,880 
Other Businesses637 657 
Intersegment eliminations(489)(507)
Total segment assets16,383 17,030 
Corporate413 507 
Total assets$16,796 $17,537