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Quarterly report pursuant to Section 13 or 15(d)

GOODWILL AND INTANGIBLE ASSETS AND LIABILITIES (Tables)

v3.21.2
GOODWILL AND INTANGIBLE ASSETS AND LIABILITIES (Tables)
9 Months Ended
Sep. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract] Ìý
Schedule of Goodwill
The following is a summary of Goodwill by segment:
(In Millions)
September 30,
2021
December 31,
2020
Steelmaking $ 898Ìý $ 1,232Ìý
Other Businesses 174Ìý 174Ìý
Total goodwill $ 1,072Ìý $ 1,406Ìý
The decrease of $334 million in the balance of Goodwill in our Steelmaking segment as of SeptemberÌý30, 2021, compared to DecemberÌý31, 2020, is due to the change in estimated identified goodwill as a result of measurement period adjustments to the preliminary purchase price allocation for the acquisition of ArcelorMittal USA. Refer to NOTE 3 - ACQUISITIONS for further details.
Schedule of Intangible Assets and Goodwill
The following is a summary of our intangible assets and liabilities:
(In Millions)
SeptemberÌý30, 2021
DecemberÌý31, 2020
Gross Amount Accumulated Amortization Net Amount Gross Amount Accumulated Amortization Net Amount
Intangible assets1:
Customer relationships $ 77Ìý $ (7) $ 70Ìý $ 77Ìý $ (3) $ 74Ìý
Developed technology 60Ìý (6) 54Ìý 60Ìý (3) 57Ìý
Trade names and trademarks 11Ìý (2) 9Ìý 11Ìý (1) 10Ìý
Mining permits 72Ìý (25) 47Ìý 72Ìý (25) 47Ìý
Total intangible assets $ 220Ìý $ (40) $ 180Ìý $ 220Ìý $ (32) $ 188Ìý
Intangible liabilities2:
Above-market supply contracts $ (71) $ 12Ìý $ (59) $ (71) $ 7Ìý $ (64)
1 Intangible assets are classified as Other non-current assets. Amortization related to mining permits is recognized in Cost of goods sold. Amortization of all other intangible assets is recognized in Selling, general and administrative expenses.
2 Intangible liabilities are classified as Other non-current liabilities. Amortization of all intangible liabilities is recognized in Cost of goods sold.