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Quarterly report pursuant to Section 13 or 15(d)

SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION (Tables)

v3.24.2
SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION (Tables)
 6 Months Ended
Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract] Ìý
Schedule of Allowance for Credit Losses
The following is a roll-forward of our allowance for credit losses associated with Accounts receivable, net:
(In millions) 2024 2023
Allowance for credit losses as of January 1 $ (5) $ (4)
Decrease (increase) in allowance —Ìý (3)
Allowance for credit losses as of June 30 $ (5) $ (7)
Schedule of Inventory
The following table presents the detail of our Inventories on the Statements of Unaudited Condensed Consolidated Financial Position:
(In millions) June 30,
2024		 December 31,
2023
Product inventories
Finished and semi-finished goods $ 2,275Ìý $ 2,573Ìý
Raw materials 1,508Ìý 1,476Ìý
Total product inventories 3,783Ìý 4,049Ìý
Manufacturing supplies and critical spares 416Ìý 411Ìý
Inventories $ 4,199Ìý $ 4,460Ìý
Schedule of Reconciliation of Accrued Liabilities
The following table represents a reconciliation of our accrued liabilities related to the Weirton Indefinite Idle:
(In millions) Employee- Related Costs Exit Costs Asset Impairment Total
Balance as of December 31, 2023 $ —Ìý $ —Ìý $ —Ìý $ —Ìý
Costs incurred1
58Ìý 48Ìý 64Ìý 170Ìý
Cash payments —Ìý (2) —Ìý (2)
Non-cash —Ìý —Ìý (64) (64)
Balance as of March 31, 2024 $ 58Ìý $ 46Ìý $ —Ìý $ 104Ìý
Costs incurred2
23Ìý 2Ìý 15Ìý 40Ìý
Cash payments (8) (10) —Ìý (18)
Non-cash —Ìý —Ìý (15) (15)
Balance as of June 30, 2024 $ 73Ìý $ 38Ìý $ —Ìý $ 111Ìý
1 Of the $170 million of cost incurred, $104Ìýmillion was recorded in Restructuring and other charges, $64 million was recorded in Asset impairments and $2 million was recorded in Net periodic benefit credits other than service cost component.
2 Of the $40 million of costs incurred, $25 million was recorded in Restructuring and other charges and $15 million was recorded in Asset impairments.
Schedule of Supplemental Cash Flow Information
A reconciliation of capital additions to cash paid for capital expenditures is as follows:
Six Months Ended
June 30,
(In millions) 2024 2023
Capital additions $ 346Ìý $ 290Ìý
Less:
Non-cash accruals (47) (89)
Right-of-use assets - finance leases 54Ìý 60Ìý
Cash paid for capital expenditures including deposits $ 339Ìý $ 319Ìý
Cash payments (receipts) for income taxes and interest are as follows:
Six Months Ended
June 30,
(In millions) 2024 2023
Income taxes paid $ 10Ìý $ 37Ìý
Income tax refunds (4) (138)
Interest paid on debt obligations net of capitalized interest1
134Ìý 142Ìý
1 Capitalized interest was $8 million and $6 million for the six months ended JuneÌý30, 2024 and 2023, respectively.