AGÕæÈËƽ̨AGÕæÈËÊÔÍæ

Quarterly report pursuant to Section 13 or 15(d)

SEGMENT REPORTING (Tables)

v3.24.3
SEGMENT REPORTING (Tables)
 9 Months Ended
Sep. 30, 2024
Segment Reporting [Abstract] Ìý
Schedule Of Segment Reporting Information
Our results by segment are as follows:
Three Months Ended
September 30,		 Nine Months Ended
September 30,
(In millions) 2024 2023 2024 2023
Revenues:
AGÕæÈËƽ̨AGÕæÈËÊÔÍæmaking $ 4,419Ìý $ 5,443Ìý $ 14,361Ìý $ 16,377Ìý
Other Businesses 150Ìý 162Ìý 499Ìý 507Ìý
Total revenues $ 4,569Ìý $ 5,605Ìý $ 14,860Ìý $ 16,884Ìý
Adjusted EBITDA:
AGÕæÈËƽ̨AGÕæÈËÊÔÍæmaking $ 113Ìý $ 603Ìý $ 814Ìý $ 1,608Ìý
Other Businesses 8Ìý 9Ìý 43Ìý 32Ìý
Eliminations 3Ìý 2Ìý 4Ìý (8)
Total Adjusted EBITDA $ 124Ìý $ 614Ìý $ 861Ìý $ 1,632Ìý
The following table provides a reconciliation of our consolidated Net income (loss) to total Adjusted EBITDA:
Three Months Ended
September 30,		 Nine Months Ended
September 30,
(In millions) 2024 2023 2024 2023
Net income (loss) $ (230) $ 275Ìý $ (274) $ 589Ìý
Less:
Interest expense, net (102) (70) (235) (226)
Income tax benefit (expense) 76Ìý (29) 99Ìý (118)
Depreciation, depletion and amortization (235) (249) (693) (738)
Total EBITDA 31Ìý 623Ìý 555Ìý 1,671Ìý
Less:
EBITDA of noncontrolling interests1
20Ìý 20Ìý 56Ìý 60Ìý
Weirton indefinite idle2
(2) —� (219) —�
Loss on extinguishment of debt â€�Ìý —Ì� (27) —Ì�
Acquisition-related costs (14) (3) (14) (5)
Changes in fair value of foreign currency contracts, net (7) —� (7) —�
Arbitration decision (71) —� (71) —�
Other, net (19) (8) (24) (16)
Total Adjusted EBITDA $ 124Ìý $ 614Ìý $ 861Ìý $ 1,632Ìý
1 EBITDA of noncontrolling interests includes the following:
Net income attributable to noncontrolling interests $ 12Ìý $ 11Ìý $ 33Ìý $ 35Ìý
Depreciation, depletion and amortization 8Ìý 9Ìý 23Ìý 25Ìý
EBITDA of noncontrolling interests $ 20Ìý $ 20Ìý $ 56Ìý $ 60Ìý
2 Refer to NOTE 2 - SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION for further information.
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) 2024 2023 2024 2023
Depreciation, depletion and amortization:
AGÕæÈËƽ̨AGÕæÈËÊÔÍæmaking $ (228) $ (241) $ (669) $ (711)
Other Businesses (7) (8) (24) (27)
Total depreciation, depletion and amortization $ (235) $ (249) $ (693) $ (738)
Capital additions1:
AGÕæÈËƽ̨AGÕæÈËÊÔÍæmaking $ 211Ìý $ 217Ìý $ 554Ìý $ 503Ìý
Other Businesses â€�Ìý —Ì� 3Ìý 3Ìý
Corporate â€�Ìý 1Ìý â€�Ìý 2Ìý
Total capital additions $ 211Ìý $ 218Ìý $ 557Ìý $ 508Ìý
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,
2024		 December 31,
2023
Assets:
AGÕæÈËƽ̨AGÕæÈËÊÔÍæmaking $ 16,235Ìý $ 16,880Ìý
Other Businesses 637Ìý 657Ìý
Intersegment eliminations (489) (507)
Total segment assets 16,383Ìý 17,030Ìý
Corporate 413Ìý 507Ìý
Total assets $ 16,796Ìý $ 17,537Ìý