SEGMENT REPORTING (Tables)

6 Months Ended

Jun. 30, 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 June 30, 2025
(In millions)	Steelmaking		Other Businesses		Eliminations		Total
Revenues	$	4,808	$	163	$	(37)	$	4,934
Cost of goods sold	(5,031)		(147)		35		(5,143)
Selling, general and administrative expenses	(130)		(7)		—		(137)
Net periodic benefit credits other than service cost component	43		—		—		43
Excluding depreciation, depletion and amortization	386		7		—		393
Other segment items1	7		—		—		7
Total Adjusted EBITDA	$	83	$	16	$	(2)	$	97

Interest expense, net							(149)
Income tax benefit							148
Depreciation, depletion and amortization							(393)
EBITDA from noncontrolling interests2							20
Idled facilities charges							(204)
Changes in fair value of derivatives, net							(15)
Currency exchange							48

Severance							(19)
Other, net							(3)
Net loss							$	(470)

Capital Additions	$	150	$	2	$	—	$	152

1 Other segment items primarily consists of the exclusion of EBITDA from noncontrolling interests from Adjusted EBITDA and certain idled facilities charges and the inclusion of items within Miscellaneous – net and Other non-operating income (expense).
2 EBITDA from noncontrolling interests includes net income attributable to noncontrolling interests of $13 million and the exclusion of depreciation, depletion, and amortization of $7 million.


	Three Months Ended June 30, 2024
(In millions)	Steelmaking		Other Businesses		Eliminations		Total
Revenues	$	4,937	$	177	$	(22)	$	5,092
Cost of goods sold	(4,791)		(160)		21		(4,930)
Selling, general and administrative expenses	(96)		(7)		—		(103)
Net periodic benefit credits other than service cost component	62		—		—		62
Excluding depreciation, depletion and amortization	219		9		—		228
Other segment items1	(25)		(1)		—		(26)
Total Adjusted EBITDA	$	306	$	18	$	(1)	$	323

Interest expense, net							(69)
Income tax benefit							15
Depreciation, depletion and amortization							(228)
EBITDA from noncontrolling interests2							15
Idled facilities charges							(40)


Loss on extinguishment of debt							(6)
Severance							(1)

Net income							$	9

Capital Additions	$	187	$	2	$	—	$	189

1 Other segment items primarily consists of the exclusion of EBITDA from noncontrolling interests from Adjusted EBITDA and the inclusion of items within Miscellaneous – net and Other non-operating income (loss).
2 EBITDA from noncontrolling interests includes net income attributable to noncontrolling interests of $7 million and the exclusion of depreciation, depletion, and amortization of $8 million.

Reconciliation of Assets from Segment to Consolidated

The following summarizes our assets by segment:


(In millions)	June 30, 2025		December 31, 2024
Assets:
Steelmaking	$	19,848	$	20,327
Other Businesses	623		620
Total segment assets	$	20,471	$	20,947