| Schedule Of Segment Reporting Information, By Segment |
Our results by segment are as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(In Millions) |
|
Three Months Ended
September 30, |
|
Nine Months Ended
September 30, |
|
2021 |
|
2020 |
|
2021 |
|
2020 |
| Revenues: |
|
|
|
|
|
|
|
| Steelmaking |
$ |
5,869
|
|
|
$ |
1,506 |
|
|
$ |
14,710
|
|
|
$ |
2,866 |
|
| Other Businesses |
135
|
|
|
140 |
|
|
388
|
|
|
232 |
|
| Total revenues |
$ |
6,004
|
|
|
$ |
1,646 |
|
|
$ |
15,098
|
|
|
$ |
3,098 |
|
|
|
|
|
|
|
|
|
| Adjusted EBITDA: |
|
|
|
|
|
|
|
| Steelmaking |
$ |
1,969
|
|
|
$ |
127 |
|
|
$ |
3,901
|
|
|
$ |
117 |
|
| Other Businesses |
6
|
|
|
18 |
|
|
25
|
|
|
22 |
|
| Corporate and eliminations |
(42) |
|
|
(19) |
|
|
(120) |
|
|
(72) |
|
| Total Adjusted EBITDA |
$ |
1,933
|
|
|
$ |
126 |
|
|
$ |
3,806
|
|
|
$ |
67 |
|
The following table provides a reconciliation of our consolidated Net income (loss) to total Adjusted EBITDA:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(In Millions) |
|
Three Months Ended
September 30, |
|
Nine Months Ended
September 30, |
|
2021 |
|
2020 |
|
2021 |
|
2020 |
| Net income (loss) |
$ |
1,282
|
|
|
$ |
2 |
|
|
$ |
2,134
|
|
|
$ |
(155) |
|
| Less: |
|
|
|
|
|
|
|
| Interest expense, net |
(81) |
|
|
(68) |
|
|
(258) |
|
|
(168) |
|
| Income tax benefit (expense) |
(334) |
|
|
22 |
|
|
(559) |
|
|
98 |
|
| Depreciation, depletion and amortization |
(239) |
|
|
(72) |
|
|
(664) |
|
|
(184) |
|
|
1,936
|
|
|
120 |
|
|
3,615
|
|
|
99 |
|
| Less: |
|
|
|
|
|
|
|
EBITDA of noncontrolling interests1
|
17
|
|
|
16 |
|
|
60
|
|
|
41 |
|
| Gain (loss) on extinguishment of debt |
—
|
|
|
— |
|
|
(88) |
|
|
133 |
|
| Severance costs |
(3) |
|
|
(2) |
|
|
(15) |
|
|
(38) |
|
| Acquisition-related costs excluding severance costs |
(1) |
|
|
(5) |
|
|
(3) |
|
|
(30) |
|
| Acquisition-related loss on equity method investment |
—
|
|
|
— |
|
|
(18) |
|
|
— |
|
| Amortization of inventory step-up |
(11) |
|
|
(15) |
|
|
(129) |
|
|
(74) |
|
| Impact of discontinued operations |
1
|
|
|
— |
|
|
2
|
|
|
— |
|
| Total Adjusted EBITDA |
$ |
1,933
|
|
|
$ |
126 |
|
|
$ |
3,806
|
|
|
$ |
67 |
|
|
|
|
|
|
|
|
|
1 EBITDA of noncontrolling interests includes the following:
|
| Net income attributable to noncontrolling interests |
$ |
8
|
|
|
$ |
12 |
|
|
$ |
39
|
|
|
$ |
31 |
|
| Depreciation, depletion and amortization |
9
|
|
|
4 |
|
|
21
|
|
|
10 |
|
| EBITDA of noncontrolling interests |
$ |
17
|
|
|
$ |
16 |
|
|
$ |
60
|
|
|
$ |
41 |
|
The following table summarizes our capital additions by segment:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(In Millions) |
|
Three Months Ended
September 30, |
|
Nine Months Ended
September 30, |
|
2021 |
|
2020 |
|
2021 |
|
2020 |
Capital additions1:
|
|
|
|
|
|
|
|
| Steelmaking |
$ |
233
|
|
|
$ |
93 |
|
|
$ |
512
|
|
|
$ |
313 |
|
| Other Businesses |
10
|
|
|
9 |
|
|
42
|
|
|
19 |
|
| Corporate |
—
|
|
|
— |
|
|
18
|
|
|
1 |
|
| Total capital additions |
$ |
243
|
|
|
$ |
102 |
|
|
$ |
572
|
|
|
$ |
333 |
|
|
|
|
|
|
|
|
|
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,
2021 |
|
December 31,
2020 |
| Assets: |
|
|
|
| Steelmaking |
$ |
17,439
|
|
|
$ |
15,849 |
|
| Other Businesses |
351
|
|
|
239 |
|
| Total segment assets |
17,790
|
|
|
16,088 |
|
| Corporate |
276
|
|
|
683 |
|
| Total assets |
$ |
18,066
|
|
|
$ |
16,771 |
|
|