GOODWILL AND INTANGIBLE ASSETS AND LIABILITIES (Tables)

9 Months Ended

Sep. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

The following is a summary of Goodwill by segment:

	(In Millions)
	September 30, 2021		December 31, 2020
Steelmaking	$	898	$	1,232
Other Businesses	174		174
Total goodwill	$	1,072	$	1,406

The decrease of $334 million in the balance of Goodwill in our Steelmaking segment as of September 30, 2021, compared to December 31, 2020, is due to the change in estimated identified goodwill as a result of measurement period adjustments to the preliminary purchase price allocation for the acquisition of ArcelorMittal USA. Refer to NOTE 3 - ACQUISITIONS for further details.

Schedule of Intangible Assets and Goodwill

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

	(In Millions)
	September 30, 2021						December 31, 2020
	Gross Amount		Accumulated Amortization		Net Amount		Gross Amount		Accumulated Amortization		Net Amount
Intangible assets1:
Customer relationships	$	77	$	(7)	$	70	$	77	$	(3)	$	74
Developed technology	60		(6)		54		60		(3)		57
Trade names and trademarks	11		(2)		9		11		(1)		10
Mining permits	72		(25)		47		72		(25)		47
Total intangible assets	$	220	$	(40)	$	180	$	220	$	(32)	$	188
Intangible liabilities2:
Above-market supply contracts	$	(71)	$	12	$	(59)	$	(71)	$	7	$	(64)
1 Intangible assets are classified as Other non-current assets. 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.