SEGMENT REPORTING (Tables)

12 Months Ended

Dec. 31, 2021

Segment Reporting [Abstract]

Summary of Results by Segment

Our results by segment are as follows:

	(In Millions)
	Year Ended December 31,
	2021		2020		2019
Revenues:
Steelmaking	$	19,901	$	4,965	$	1,990
Other Businesses	543		389		—
Total revenues	$	20,444	$	5,354	$	1,990
Adjusted EBITDA:
Steelmaking	$	5,422	$	433	$	636
Other Businesses	9		47		—
Corporate and eliminations	(169)		(127)		(111)
Total Adjusted EBITDA	$	5,262	$	353	$	525

The following table provides a reconciliation of our consolidated Net income (loss) to total Adjusted EBITDA:

	(In Millions)
	Year Ended December 31,
	2021		2020		2019
Net income (loss)	$	3,033	$	(81)	$	293
Less:
Interest expense, net	(337)		(238)		(101)
Income tax benefit (expense)	(773)		111		(18)
Depreciation, depletion and amortization	(897)		(308)		(85)
	5,040		354		497
Less:
EBITDA from noncontrolling interests1	75		56		—
Gain (loss) on extinguishment of debt	(88)		130		(18)
Severance costs	(15)		(38)		(2)
Acquisition-related costs excluding severance costs	(5)		(52)		(7)
Acquisition-related loss on equity method investment	(31)		—		—
Amortization of inventory step-up	(161)		(96)		—
Impact of discontinued operations	3		1		(1)
Total Adjusted EBITDA	$	5,262	$	353	$	525
1 EBITDA of noncontrolling interests includes the following:
Net income attributable to noncontrolling interests	$	45	$	41	$	—
Depreciation, depletion and amortization	30		15		—
EBITDA of noncontrolling interests	$	75	$	56	$	—

The following table summarizes our depreciation, depletion and amortization and capital additions by segment:

	(In Millions)
	Year Ended December 31,
	2021		2020		2019
Depreciation, depletion and amortization:
Steelmaking	$	855	$	276	$	80
Other Businesses	37		27		—
Corporate	5		5		5
Total depreciation, depletion and amortization	$	897	$	308	$	85
Capital additions1:
Steelmaking	$	787	$	436	$	687
Other Businesses	52		45		—
Corporate	18		2		3
Total capital additions	$	857	$	483	$	690
1 Refer to NOTE 2 - SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION for additional information.

Summary of Assets by Segment

The following summarizes our assets by segment:

	(In Millions)
	December 31,
	2021		2020
Assets:
Steelmaking	$	18,326	$	15,849
Other Businesses	306		239
Total segment assets	18,632		16,088
Corporate	343		683
Total assets	$	18,975	$	16,771

Summary of Amounts Relating to Geographic Location

Included in the consolidated financial statements are the following amounts relating to geographic location based on product destination:

	(In Millions)
	2021		2020		2019
Revenues:
United States	$	18,881	$	4,580	$	1,505
Canada	803		602		448
Other countries	760		172		37
Total revenues	$	20,444	$	5,354	$	1,990
Property, plant and equipment, net:
United States	$	9,092	$	8,647	$	1,929
Canada	93		91		—
Other countries	1		5		—
Total property, plant and equipment, net	$	9,186	$	8,743	$	1,929