SEGMENT REPORTING (Tables)

6 Months Ended

Jun. 30, 2023

Segment Reporting [Abstract]

Schedule Of Segment Reporting Information

Our results by segment are as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
(In millions)	2023		2022		2023		2022
Revenues:
Steelmaking	$	5,808	$	6,176	$	10,934	$	11,970
Other Businesses	176		161		345		322
Total revenues	$	5,984	$	6,337	$	11,279	$	12,292
Adjusted EBITDA:
Steelmaking	$	765	$	1,109	$	1,005	$	2,533
Other Businesses	15		20		23		49
Eliminations	(5)		2		(10)		1
Total Adjusted EBITDA	$	775	$	1,131	$	1,018	$	2,583

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

	Three Months Ended June 30,				Six Months Ended June 30,
(In millions)	2023		2022		2023		2022
Net income	$	356	$	601	$	314	$	1,415
Less:
Interest expense, net	(79)		(64)		(156)		(141)
Income tax expense	(102)		(157)		(89)		(394)
Depreciation, depletion and amortization	(247)		(250)		(489)		(551)
	784		1,072		1,048		2,501
Less:
EBITDA of noncontrolling interests1	17		13		40		35
Loss on extinguishment of debt	—		(66)		—		(80)
Asset impairment	—		—		—		(29)
Other, net	(8)		(6)		(10)		(8)
Total Adjusted EBITDA	$	775	$	1,131	$	1,018	$	2,583
1 EBITDA of noncontrolling interests includes the following:
Net income attributable to noncontrolling interests	$	9	$	5	$	24	$	18
Depreciation, depletion and amortization	8		8		16		17
EBITDA of noncontrolling interests	$	17	$	13	$	40	$	35

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

	Three Months Ended June 30,				Six Months Ended June 30,
(In millions)	2023		2022		2023		2022
Depreciation, depletion and amortization:
Steelmaking	$	(239)	$	(240)	$	(470)	$	(531)
Other Businesses	(8)		(10)		(19)		(20)
Total depreciation, depletion and amortization	$	(247)	$	(250)	$	(489)	$	(551)
Capital additions1:
Steelmaking	$	159	$	297	$	286	$	472
Other Businesses	2		9		3		15
Corporate	1		2		1		2
Total capital additions	$	162	$	308	$	290	$	489
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)	June 30, 2023		December 31, 2022
Assets:
Steelmaking	$	17,819	$	18,070
Other Businesses	293		315
Total segment assets	18,112		18,385
Corporate/Eliminations	191		370
Total assets	$	18,303	$	18,755