| Schedule Of Segment Reporting Information |
Our results by segment are as follows:
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Three Months Ended
June 30, |
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Six Months Ended
June 30, |
| (In millions) |
2023 |
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2022 |
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2023 |
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2022 |
| Revenues: |
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| AGÕæÈËƽ̨AGÕæÈËÊÔÍæmaking |
$ |
5,808Ìý
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$ |
6,176Ìý |
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$ |
10,934Ìý
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$ |
11,970Ìý |
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| Other Businesses |
176Ìý
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161Ìý |
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345Ìý
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322Ìý |
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| Total revenues |
$ |
5,984Ìý
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$ |
6,337Ìý |
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$ |
11,279Ìý
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$ |
12,292Ìý |
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| Adjusted EBITDA: |
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| AGÕæÈËƽ̨AGÕæÈËÊÔÍæmaking |
$ |
765Ìý
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$ |
1,109Ìý |
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$ |
1,005Ìý
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$ |
2,533Ìý |
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| Other Businesses |
15Ìý
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20Ìý |
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23Ìý
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49Ìý |
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| Eliminations |
(5) |
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2Ìý |
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(10) |
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1Ìý |
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| Total Adjusted EBITDA |
$ |
775Ìý
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$ |
1,131Ìý |
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$ |
1,018Ìý
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$ |
2,583Ìý |
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The following table provides a reconciliation of our consolidated Net income to total Adjusted EBITDA:
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Three Months Ended
June 30, |
|
Six Months Ended
June 30, |
| (In millions) |
2023 |
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2022 |
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2023 |
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2022 |
| Net income |
$ |
356Ìý
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$ |
601Ìý |
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$ |
314Ìý
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$ |
1,415Ìý |
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| Less: |
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| Interest expense, net |
(79) |
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(64) |
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(156) |
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(141) |
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| Income tax expense |
(102) |
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(157) |
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(89) |
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(394) |
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| Depreciation, depletion and amortization |
(247) |
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(250) |
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(489) |
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(551) |
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784Ìý
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1,072Ìý |
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1,048Ìý
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2,501Ìý |
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| Less: |
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EBITDA of noncontrolling interests1
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17Ìý
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13Ìý |
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40Ìý
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35Ìý |
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| Loss on extinguishment of debt |
â€�Ìý
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(66) |
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â€�Ìý
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(80) |
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| Asset impairment |
â€�Ìý
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—� |
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â€�Ìý
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(29) |
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| Other, net |
(8) |
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(6) |
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(10) |
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(8) |
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| Total Adjusted EBITDA |
$ |
775Ìý
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$ |
1,131Ìý |
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$ |
1,018Ìý
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$ |
2,583Ìý |
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1 EBITDA of noncontrolling interests includes the following:
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| Net income attributable to noncontrolling interests |
$ |
9Ìý
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$ |
5Ìý |
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$ |
24Ìý
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$ |
18Ìý |
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| Depreciation, depletion and amortization |
8Ìý
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8Ìý |
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16Ìý
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17Ìý |
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| EBITDA of noncontrolling interests |
$ |
17Ìý
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$ |
13Ìý |
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$ |
40Ìý
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$ |
35Ìý |
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The following table summarizes our depreciation, depletion and amortization and capital additions by segment:
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Three Months Ended
June 30, |
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Six Months Ended
June 30, |
| (In millions) |
2023 |
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2022 |
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2023 |
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2022 |
| Depreciation, depletion and amortization: |
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| AGÕæÈËƽ̨AGÕæÈËÊÔÍæmaking |
$ |
(239) |
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$ |
(240) |
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$ |
(470) |
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$ |
(531) |
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| Other Businesses |
(8) |
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(10) |
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(19) |
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(20) |
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| Total depreciation, depletion and amortization |
$ |
(247) |
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$ |
(250) |
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$ |
(489) |
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$ |
(551) |
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Capital additions1:
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| AGÕæÈËƽ̨AGÕæÈËÊÔÍæmaking |
$ |
159Ìý
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$ |
297Ìý |
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$ |
286Ìý
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$ |
472Ìý |
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| Other Businesses |
2Ìý
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9Ìý |
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3Ìý
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15Ìý |
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| Corporate |
1Ìý
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2Ìý |
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1Ìý
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2Ìý |
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| Total capital additions |
$ |
162Ìý
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$ |
308Ìý |
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$ |
290Ìý
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$ |
489Ìý |
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1 Refer to NOTE 2 - SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION for additional information.
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| Reconciliation of Assets from Segment to Consolidated |
The following summarizes our assets by segment:
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| (In millions) |
June 30,
2023 |
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December 31,
2022 |
| Assets: |
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| AGÕæÈËƽ̨AGÕæÈËÊÔÍæmaking |
$ |
17,819Ìý
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$ |
18,070Ìý |
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| Other Businesses |
293Ìý
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|
315Ìý |
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| Total segment assets |
18,112Ìý
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18,385Ìý |
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| Corporate/Eliminations |
191Ìý
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370Ìý |
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| Total assets |
$ |
18,303Ìý
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$ |
18,755Ìý |
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