SEGMENT REPORTING (Tables)

3 Months Ended

Mar. 31, 2025

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)		—		(133)
Net periodic benefit credits other than service cost component	57		—		—		57
Excluding depreciation, depletion and amortization	274		8		—		282
Other segment items1	11		—		—		11
Total Adjusted EBITDA	$	(184)	$	10	$	—	$	(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	$	—	$	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 – 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	$	172	$	(26)	$	5,199
Cost of goods sold	(4,785)		(157)		28		(4,914)
Selling, general and administrative expenses	(125)		(7)		—		(132)
Net periodic benefit credits other than service cost component	60		—		—		60
Excluding depreciation, depletion and amortization	222		8		—		230
Other segment items1	(30)		1		—		(29)
Total Adjusted EBITDA	$	395	$	17	$	2	$	414

Interest expense, net							(64)
Income tax benefit							8
Depreciation, depletion and amortization							(230)
EBITDA from noncontrolling interests2							21
Weirton indefinite idle							(177)
Loss on extinguishment of debt							(21)
Other, net							(4)
Net loss							$	(53)

Capital Additions	$	156	$	1	$	—	$	157

1 Other segment items primarily consists of the exclusion of EBITDA of noncontrolling interests from Adjusted EBITDA and the inclusion of items within Miscellaneous – 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
Other Businesses	636		620
Total segment assets	$	20,836	$	20,947