Annual report pursuant to Section 13 and 15(d)

SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION (Tables)

v3.22.4
SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION (Tables)
 12 Months Ended
Dec. 31, 2022
Disclosure Text Block [Abstract]  
Roll-forward of Allowance for Credit Losses
The following is a roll-forward of our allowance for credit losses associated with Accounts receivable, net:
(In millions) 2022 2021
Allowance for credit losses as of January 1 $ (4) $ (5)
Decrease in allowance —  1 
Allowance for credit losses as of December 31 $ (4) $ (4)
Schedule Of Inventories
The following table presents the detail of our Inventories on the Statements of Consolidated Financial Position:
December 31,
(In millions) 2022 2021
Product inventories
Finished and semi-finished goods $ 2,971  $ 2,814 
Raw materials 1,794  2,070 
Total product inventories 4,765  4,884 
Manufacturing supplies and critical spares 365  304 
Inventories $ 5,130  $ 5,188 
Schedule of Cash Flow, Supplemental Disclosures
A reconciliation of capital additions to cash paid for capital expenditures is as follows:
Year Ended December 31,
(In millions) 2022 2021 2020
Capital additions $ 1,033  $ 857  $ 483 
Less:
Non-cash accruals 35  102  (86)
Right-of-use assets - finance leases 55  50  44 
Cash paid for capital expenditures including deposits $ 943  $ 705  $ 525 
Additionally, included within Other investing activities on the Statements of Consolidated Cash Flows are grant reimbursements related to governmental funded capital projects. For the years ended December 31, 2022 and 2021, grant reimbursements were $27 million and $2 million, respectively.
Cash payments (receipts) for interest and income taxes are as follows:
Year Ended December 31,
(In millions) 2022 2021 2020
Taxes paid on income $ 334  $ 166  $ 5 
Income tax refunds (3) (16) (120)
Interest paid on debt obligations net of capitalized interest1
249  299  170 
1 Capitalized interest was $9 million, $6 million and $53 million for the years ended December 31, 2022, 2021 and 2020, respectively.
Schedule of Noncash or Part Noncash Acquisitions
Other non-cash investing and financing activities are as follows:
Year Ended December 31,
(In millions) 2022 2021 2020
1.500% 2025 Convertible Senior Notes redemption $ 25  $ —  $ — 
Fair value of settlement of a pre-existing relationship as part of consideration in connection with FPT Acquisition —  (20) — 
Fair value of common shares issued as part of consideration in connection with AM USA Transaction —  —  990 
Fair value of Series B Participating Redeemable Preferred Stock issued as part of consideration in connection with AM USA Transaction —  —  738 
Fair value of settlement of a pre-existing relationship as part of consideration in connection with AM USA Transaction —  —  237 
Fair value of common shares issued as consideration in connection with AK Steel Merger —  —  618 
Fair value of equity awards assumed in connection with AK Steel Merger —  —  4