SEGMENT REPORTING (Tables)

9 Months Ended

Sep. 30, 2023

Segment Reporting [Abstract]

Schedule Of Segment Reporting Information

Our results by segment are as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
(In millions)	2023		2022		2023		2022
Revenues:
Steelmaking	$	5,443	$	5,511	$	16,377	$	17,481
Other Businesses	162		142		507		464
Total revenues	$	5,605	$	5,653	$	16,884	$	17,945
Adjusted EBITDA:
Steelmaking	$	603	$	447	$	1,608	$	2,980
Other Businesses	9		9		32		58
Eliminations	2		7		(8)		8
Total Adjusted EBITDA	$	614	$	463	$	1,632	$	3,046

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

	Three Months Ended September 30,				Nine Months Ended September 30,
(In millions)	2023		2022		2023		2022
Net income	$	275	$	165	$	589	$	1,580
Less:
Interest expense, net	(70)		(64)		(226)		(205)
Income tax expense	(29)		(10)		(118)		(404)
Depreciation, depletion and amortization	(249)		(237)		(738)		(788)
	623		476		1,671		2,977
Less:
EBITDA of noncontrolling interests1	20		22		60		57
Gain (loss) on extinguishment of debt	—		4		—		(76)
Asset impairment	—		—		—		(29)
Other, net	(11)		(13)		(21)		(21)
Total Adjusted EBITDA	$	614	$	463	$	1,632	$	3,046
1 EBITDA of noncontrolling interests includes the following:
Net income attributable to noncontrolling interests	$	11	$	13	$	35	$	31
Depreciation, depletion and amortization	9		9		25		26
EBITDA of noncontrolling interests	$	20	$	22	$	60	$	57

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

	Three Months Ended September 30,				Nine Months Ended September 30,
(In millions)	2023		2022		2023		2022
Depreciation, depletion and amortization:
Steelmaking	$	(241)	$	(227)	$	(711)	$	(758)
Other Businesses	(8)		(10)		(27)		(30)
Total depreciation, depletion and amortization	$	(249)	$	(237)	$	(738)	$	(788)
Capital additions1:
Steelmaking	$	217	$	240	$	503	$	712
Other Businesses	—		6		3		21
Corporate	1		1		2		3
Total capital additions	$	218	$	247	$	508	$	736
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, 2023		December 31, 2022
Assets:
Steelmaking	$	17,481	$	18,070
Other Businesses	819		836
Intersegment eliminations	(531)		(521)
Total segment assets	17,769		18,385
Corporate	290		370
Total assets	$	18,059	$	18,755