PROPERTY, PLANT AND EQUIPMENT

9 Months Ended

Sep. 30, 2025

Property, Plant and Equipment [Abstract]

PROPERTY, PLANT AND EQUIPMENT

NOTE 6 - PROPERTY, PLANT AND EQUIPMENT

The following table indicates the carrying value of each of the major classes of our depreciable assets:

(In millions)	September 30, 2025		December 31, 2024
Land, land improvements and mineral rights	$	1,458	$	1,451
Buildings	1,172		1,104
Equipment	11,539		11,119
Other	358		349
Construction in progress	604		728
Total property, plant and equipment1	15,131		14,751
Allowance for depreciation and depletion	(5,623)		(4,809)
Property, plant and equipment, net	$	9,508	$	9,942
1 Includes right-of-use assets related to finance leases of $581 million and $505 million as of September 30, 2025 and December 31, 2024, respectively.

We recorded depreciation and depletion expense of $268 million and $906 million for the three and nine months ended September 30, 2025, respectively, and $233 million and $687 million for the three and nine months ended September 30, 2024, respectively.

During the second quarter of 2025, the decision to indefinitely idle our Steelton, Conshohocken, and Riverdale facilities occurred. This resulted in a $39 million Asset impairment to Property, plant and equipment, net for the nine months ended September 30, 2025 and accelerated depreciation of $12 million and $131 million for the three and nine months ended September 30, 2025, respectively, included within depreciation and depletion expense.