AGÕæÈËƽ̨AGÕæÈËÊÔÍæ

Annual report [Section 13 and 15(d), not S-K Item 405]

SEGMENT REPORTING (Tables)

v3.25.0.1
SEGMENT REPORTING (Tables)
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract] Ìý
Summary of Results by Segment
The following tables provide our results by segment as well as a reconciliation from consolidated Adjusted EBITDA to our consolidated Net income (loss):
Year Ended December 31, 2024
(In millions) AGÕæÈËƽ̨AGÕæÈËÊÔÍæmaking Other Businesses Eliminations Total
Revenues $ 18,620Ìý $ 656Ìý $ (91) $ 19,185Ìý
Cost of goods sold (18,605) (606) 96Ìý (19,115)
Selling, general and administrative expenses (457) (29) â€�Ìý (486)
Net periodic benefit credits other than service cost component 247Ìý â€�Ìý â€�Ìý 247Ìý
Excluding depreciation, depletion and amortization 919Ìý 32Ìý â€�Ìý 951Ìý
Other segment items1
(2) â€�Ìý â€�Ìý (2)
Total Adjusted EBITDA $ 722Ìý $ 53Ìý $ 5Ìý $ 780Ìý
Interest expense, net $ (370)
Income tax benefit 235Ìý
Depreciation, depletion and amortization (951)
EBITDA from noncontrolling interests2
76Ìý
Weirton indefinite idle (217)
Arbitration decision (71)
Acquisition-related costs (44)
Changes in fair value of derivatives, net (41)
Loss on extinguishment of debt (27)
Amortization of inventory step-up (26)
Loss on currency exchange (20)
Loss on disposal of assets (16)
Other, net (16)
Net loss $ (708)
Capital Additions $ 812Ìý $ 5Ìý $ â€�Ìý $ 817Ìý
Assets $ 20,327Ìý $ 620Ìý $ â€�Ìý $ 20,947Ìý
1 Other segment items primarily consists of the exclusion of EBITDA of noncontrolling interests and the Arbitration decision from Adjusted EBITDA and, to a lesser extent, the inclusion of items within Miscellaneous � net and Other non-operating income (loss).
2 EBITDA of noncontrolling interests includes net income attributable to noncontrolling interests of $46 million and the exclusion of depreciation, depletion, and amortization of $30 million.
Year Ended December 31, 2023
(In millions) AGÕæÈËƽ̨AGÕæÈËÊÔÍæmaking Other Businesses Eliminations Total
Revenues $ 21,413Ìý $ 665Ìý $ (82) $ 21,996Ìý
Cost of goods sold (20,055) (627) 77 (20,605)
Selling, general and administrative expenses (549) (28) â€�Ìý (577)
Net periodic benefit credits other than service cost component 204 â€�Ìý â€�Ìý 204Ìý
Excluding depreciation, depletion and amortization 938 35 â€�Ìý 973Ìý
Other segment items1
(78) (2) â€�Ìý (80)
Total Adjusted EBITDA $ 1,873Ìý $ 43Ìý $ (5) $ 1,911Ìý
Interest expense, net $ (289)
Income tax expense (148)
Depreciation, depletion and amortization (973)
EBITDA from noncontrolling interests2
83
Acquisition-related costs (12)
Loss on disposal of assets (15)
Goodwill impairment (125)
Other, net 18Ìý
Net income $ 450Ìý
Capital Additions $ 782Ìý $ 3Ìý $ —Ì� $ 785Ìý
Assets $ 16,880Ìý $ 657Ìý $ —Ì� $ 17,537Ìý
1 Other segment items primarily consists of the exclusion of EBITDA of noncontrolling interests from Adjusted EBITDA and, to a lesser extent, the inclusion of items within Miscellaneous � net and Other non-operating income (loss).
2 EBITDA of noncontrolling interests includes net income attributable to noncontrolling interests of $51 million and the exclusion of depreciation, depletion, and amortization of $32 million.
Year Ended December 31, 2022
(In millions) AGÕæÈËƽ̨AGÕæÈËÊÔÍæmaking Other Businesses Eliminations Total
Revenues $ 22,462Ìý $ 606Ìý $ (79) $ 22,989Ìý
Cost of goods sold (20,004) (557) 90Ìý (20,471)
Selling, general and administrative expenses (439) (26) —� (465)
Net periodic benefit credits other than service cost component 212 —Ì� —Ì� 212Ìý
Excluding depreciation, depletion and amortization 994 40Ìý —Ì� 1,034Ìý
Other segment items1
(136) 6Ìý —Ì� (130)
Total Adjusted EBITDA $ 3,089Ìý $ 69Ìý $ 11Ìý $ 3,169Ìý
Interest expense, net $ (276)
Income tax expense (423)
Depreciation, depletion and amortization (1,034)
EBITDA from noncontrolling interests2
74
Acquisition-related costs (1)
Loss on extinguishment of debt (75)
Loss on disposal of assets (22)
Other, net (36)
Net income $ 1,376Ìý
Capital Additions $ 1,003Ìý $ 30Ìý $ —Ì� $ 1,033Ìý
Assets $ 17,918Ìý $ 837Ìý $ —Ì� $ 18,755Ìý
1 Other segment items primarily consists of the exclusion of EBITDA of noncontrolling interests from Adjusted EBITDA and, to a lesser extent, the inclusion of items within Miscellaneous � net and Other non-operating income (loss).
2 EBITDA of noncontrolling interests includes net income attributable to noncontrolling interests of $41 million and the exclusion of depreciation, depletion, and amortization of $33 million.
Summary of Amounts Relating to Geographic Location
Included in the consolidated financial statements are the following amounts relating to geographic location based on product destination:
Year Ended December 31,
(In millions) 2024 2023 2022
Revenues:
United States $ 17,340Ìý $ 20,000Ìý $ 20,991Ìý
Canada 1,067Ìý 1,046Ìý 963Ìý
Other countries 778Ìý 950Ìý 1,035Ìý
Total revenues $ 19,185Ìý $ 21,996Ìý $ 22,989Ìý
Property, plant and equipment, net:
United States $ 8,622Ìý $ 8,816Ìý $ 8,981Ìý
Canada 1,319Ìý 78Ìý 88Ìý
Other countries 1Ìý 1Ìý 1Ìý
Total property, plant and equipment, net $ 9,942Ìý $ 8,895Ìý $ 9,070Ìý