SEGMENT REPORTING (Tables)

3 Months Ended

Mar. 31, 2022

Our results by segment are as follows:


		(In Millions)
	Three Months Ended March 31,
		2022		2021
Revenues:
Steelmaking		$	5,794	$	3,919
Other Businesses		161		130
Total revenues		$	5,955	$	4,049

Adjusted EBITDA:
Steelmaking		$	1,423	$	502
Other Businesses		29		11
Eliminations1		(1)		—
Total Adjusted EBITDA		$	1,451	$	513

1 In 2022, we began allocating Corporate SG&A to our operating segments. Prior periods have been adjusted to reflect this change. The Eliminations line now only includes sales between segments.

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


		(In Millions)
	Three Months Ended March 31,
		2022		2021
Net income		$	814	$	57
Less:
Interest expense, net		(77)		(92)
Income tax expense		(237)		(9)
Depreciation, depletion and amortization		(301)		(217)
		1,429		375
Less:
EBITDA of noncontrolling interests1		22		22
Asset impairment		(29)		—
Loss on extinguishment of debt		(14)		(66)
Severance costs		(1)		(11)
Acquisition-related costs excluding severance costs		(1)		(2)

Amortization of inventory step-up		—		(81)
Impact of discontinued operations		1		—
Total Adjusted EBITDA		$	1,451	$	513

1 EBITDA of noncontrolling interests includes the following:
Net income attributable to noncontrolling interests		$	13	$	16
Depreciation, depletion and amortization		9		6
EBITDA of noncontrolling interests		$	22	$	22

The following table summarizes our capital additions by segment:


		(In Millions)
	Three Months Ended March 31,
		2022		2021
Capital additions1:
Steelmaking		$	175	$	133
Other Businesses		6		11
Corporate		—		18
Total capital additions		$	181	$	162

1 Refer to NOTE 2 - SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION for additional information.

The following summarizes our assets by segment: