AGÕæÈËƽ̨AGÕæÈËÊÔÍæ

Quarterly report pursuant to Section 13 or 15(d)

SEGMENT REPORTING (Tables)

v3.22.2.2
SEGMENT REPORTING (Tables)
 9 Months Ended
Sep. 30, 2022
Segment Reporting [Abstract] Ìý
Schedule Of Segment Reporting Information
Our results by segment are as follows:
(In Millions)
Three Months Ended
September 30,		 Nine Months Ended
September 30,
2022 2021 2022 2021
Revenues:
AGÕæÈËƽ̨AGÕæÈËÊÔÍæmaking $ 5,511Ìý $ 5,869Ìý $ 17,481Ìý $ 14,710Ìý
Other Businesses 142Ìý 135Ìý 464Ìý 388Ìý
Total revenues $ 5,653Ìý $ 6,004Ìý $ 17,945Ìý $ 15,098Ìý
Adjusted EBITDA:
AGÕæÈËƽ̨AGÕæÈËÊÔÍæmaking $ 436Ìý $ 1,934Ìý $ 2,967Ìý $ 3,796Ìý
Other Businesses 9Ìý 6Ìý 58Ìý 25Ìý
Eliminations1
7Ìý (7) 8Ìý (15)
Total Adjusted EBITDA $ 452Ìý $ 1,933Ìý $ 3,033Ìý $ 3,806Ìý
1 In 2022, we began allocating Corporate SG&A to our operating segments. Prior periods have been adjusted to reflect this change. The Eliminations line now only includes sales between segments.
The following table provides a reconciliation of our consolidated Net income to total Adjusted EBITDA:
(In Millions)
Three Months Ended
September 30,		 Nine Months Ended
September 30,
2022 2021 2022 2021
Net income $ 165Ìý $ 1,282Ìý $ 1,580Ìý $ 2,134Ìý
Less:
Interest expense, net (64) (81) (205) (258)
Income tax expense (10) (334) (404) (559)
Depreciation, depletion and amortization (237) (239) (788) (664)
476Ìý 1,936Ìý 2,977Ìý 3,615Ìý
Less:
EBITDA of noncontrolling interests1
22Ìý 17Ìý 57Ìý 60Ìý
Asset impairment â€�Ìý —Ì� (29) —Ì�
Gain (loss) on extinguishment of debt 4Ìý —Ì� (76) (88)
Severance costs (2) (3) (9) (15)
Acquisition-related costs excluding severance costs â€�Ìý (1) (1) (3)
Acquisition-related loss on equity method investment â€�Ìý —Ì� â€�Ìý (18)
Amortization of inventory step-up â€�Ìý (11) â€�Ìý (129)
Impact of discontinued operations â€�Ìý 1Ìý 2Ìý 2Ìý
Total Adjusted EBITDA $ 452Ìý $ 1,933Ìý $ 3,033Ìý $ 3,806Ìý
1 EBITDA of noncontrolling interests includes the following:
Net income attributable to noncontrolling interests $ 13Ìý $ 8Ìý $ 31Ìý $ 39Ìý
Depreciation, depletion and amortization 9Ìý 9Ìý 26Ìý 21Ìý
EBITDA of noncontrolling interests $ 22Ìý $ 17Ìý $ 57Ìý $ 60Ìý
The following table summarizes our depreciation, depletion and amortization and capital additions by segment:
(In Millions)
Three Months Ended
September 30,		 Nine Months Ended
September 30,
2022 2021 2022 2021
Depreciation, depletion and amortization:
AGÕæÈËƽ̨AGÕæÈËÊÔÍæmaking $ (227) $ (230) $ (758) $ (637)
Other Businesses (10) (9) (30) (27)
Total depreciation, depletion and amortization $ (237) $ (239) $ (788) $ (664)
Capital additions1:
AGÕæÈËƽ̨AGÕæÈËÊÔÍæmaking $ 240Ìý $ 233Ìý $ 712Ìý $ 512Ìý
Other Businesses 6Ìý 10Ìý 21Ìý 42Ìý
Corporate 1Ìý —Ì� 3Ìý 18Ìý
Total capital additions $ 247Ìý $ 243Ìý $ 736Ìý $ 572Ìý
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,
2022		 December 31,
2021
Assets:
AGÕæÈËƽ̨AGÕæÈËÊÔÍæmaking $ 18,843Ìý $ 18,326Ìý
Other Businesses 313Ìý 306Ìý
Total segment assets 19,156Ìý 18,632Ìý
Corporate/Eliminations 532Ìý 343Ìý
Total assets $ 19,688Ìý $ 18,975Ìý