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SEGMENT REPORTING (Tables)
9 Months Ended
Sep. 30, 2022
Segment Reporting [Abstract]  
Schedule Of Segment Reporting Information
Our results by segment are as follows:
(In Millions)
Three Months Ended
September 30,
Nine Months Ended
September 30,
2022202120222021
Revenues:
Steelmaking$5,511 $5,869 $17,481 $14,710 
Other Businesses142 135 464 388 
Total revenues$5,653 $6,004 $17,945 $15,098 
Adjusted EBITDA:
Steelmaking$436 $1,934 $2,967 $3,796 
Other Businesses9 58 25 
Eliminations1
7 (7)8 (15)
Total Adjusted EBITDA$452 $1,933 $3,033 $3,806 
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
September 30,
Nine Months Ended
September 30,
2022202120222021
Net income$165 $1,282 $1,580 $2,134 
Less:
Interest expense, net(64)(81)(205)(258)
Income tax expense(10)(334)(404)(559)
Depreciation, depletion and amortization(237)(239)(788)(664)
476 1,936 2,977 3,615 
Less:
EBITDA of noncontrolling interests1
22 17 57 60 
Asset impairment — (29)— 
Gain (loss) on extinguishment of debt4 — (76)(88)
Severance costs(2)(3)(9)(15)
Acquisition-related costs excluding severance costs (1)(1)(3)
Acquisition-related loss on equity method investment —  (18)
Amortization of inventory step-up (11) (129)
Impact of discontinued operations 2 
Total Adjusted EBITDA$452 $1,933 $3,033 $3,806 
1 EBITDA of noncontrolling interests includes the following:
Net income attributable to noncontrolling interests$13 $$31 $39 
Depreciation, depletion and amortization9 26 21 
EBITDA of noncontrolling interests$22 $17 $57 $60 
The following table summarizes our depreciation, depletion and amortization and capital additions by segment:
(In Millions)
Three Months Ended
September 30,
Nine Months Ended
September 30,
2022202120222021
Depreciation, depletion and amortization:
Steelmaking$(227)$(230)$(758)$(637)
Other Businesses(10)(9)(30)(27)
Total depreciation, depletion and amortization$(237)$(239)$(788)$(664)
Capital additions1:
Steelmaking$240 $233 $712 $512 
Other Businesses6 10 21 42 
Corporate1 — 3 18 
Total capital additions$247 $243 $736 $572 
1 Refer to NOTE 2 - SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION for additional information.
Reconciliation of Assets from Segment to Consolidated
The following summarizes our assets by segment:
(In Millions)
September 30,
2022
December 31,
2021
Assets:
Steelmaking$18,843 $18,326 
Other Businesses313 306 
Total segment assets19,156 18,632 
Corporate/Eliminations532 343 
Total assets$19,688 $18,975