GOODWILL AND INTANGIBLE ASSETS AND LIABILITIES (Tables)

12 Months Ended

Dec. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill by Segment

The following table summarizes the changes in Goodwill by segment:

	December 31, 2025						December 31, 2024
(In millions)	Steelmaking		Other Businesses		Total		Steelmaking		Other Businesses		Total
Beginning balance	$	1,719	$	49	$	1,768	$	956	$	49	$	1,005
Stelco Acquisition1	16		—		16		786		—		786
Sale of business	(6)		—		(6)		—		—		—
Foreign currency translation	36		—		36		(23)		—		(23)
Ending balance	$	1,765	$	49	$	1,814	$	1,719	$	49	$	1,768
1Refer to NOTE 3 - ACQUISITIONS for further details.

Summary of Intangible Assets and Liabilities

The following is a summary of our intangible assets and liabilities:

	December 31, 2025						December 31, 2024
(In millions)	Gross Amount		Accumulated Amortization		Net Amount		Gross Amount		Accumulated Amortization		Net Amount
Intangible assets1:
Customer relationships	$	1,058	$	(104)	$	954	$	1,015	$	(34)	$	981
Developed technology	60		(21)		39		60		(17)		43
Trade names and trademarks	91		(14)		77		87		(8)		79
Mining permits	72		(30)		42		72		(29)		43
Supplier relationships	29		(6)		23		29		(5)		24
Total intangible assets	$	1,310	$	(175)	$	1,135	$	1,263	$	(93)	$	1,170
Intangible liabilities2:
Above-market supply contracts	$	(71)	$	35	$	(36)	$	(71)	$	30	$	(41)
1 Amortization related to mining permits is recognized in Cost of goods sold. Amortization of all other intangible assets is recognized in Selling, general and administrative expenses.
2 Intangible liabilities are classified as Other non-current liabilities. Amortization of all intangible liabilities is recognized in Cost of goods sold.