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Annual report [Section 13 and 15(d), not S-K Item 405]

SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION (Tables)

v3.25.0.1
SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION (Tables)
 12 Months Ended
Dec. 31, 2024
Disclosure Text Block [Abstract] Ìý
Schedule of Inventories
The following table presents the detail of our Inventories on the Statements of Consolidated Financial Position:
December 31,
(In millions) 2024 2023
Product inventories
Finished and semi-finished goods $ 2,393Ìý $ 2,573Ìý
Raw materials 2,208Ìý 1,476Ìý
Total product inventories 4,601Ìý 4,049Ìý
Manufacturing supplies and critical spares 493Ìý 411Ìý
Inventories $ 5,094Ìý $ 4,460Ìý
Supplier Finance Program
The following is a roll-forward of our obligations related to supply chain finance programs classified in Other current liabilities:
(In millions) 2024
Supply chain finance obligations as of January 1 $ 21Ìý
Invoices confirmed during the year 230Ìý
Confirmed invoices paid during the year (222)
Supply chain finance obligations as of December 31 $ 29Ìý
The following is a roll-forward of our obligations related to supply chain finance programs classified in Accounts payable:
(In millions) 2024
Supply chain finance obligations as of January 1 $ 91Ìý
Invoices confirmed during the year 375Ìý
Confirmed invoices paid during the year (390)
Supply chain finance obligations as of December 31 $ 76Ìý
Schedule of Restructuring Reserve by Type of Cost
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
82Ìý 49Ìý 79Ìý 210
Cash payments (26) (34) —Ìý (60)
Non-cash —Ìý —Ìý (79) (79)
Balance as of December 31, 2024 $ 56Ìý $ 15Ìý $ —Ìý $ 71Ìý
1 Of the $210Ìýmillion of cost incurred, $129Ìýmillion was recorded in Restructuring and other charges, $79Ìýmillion was recorded in Asset impairments and $2Ìýmillion was recorded in Net periodic benefit credits other than service cost component.
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) 2024 2023 2022
Capital additions $ 817Ìý $ 785Ìý $ 1,033Ìý
Less:
Non-cash accruals (47) (13) 35Ìý
Equipment financed with seller 72Ìý 59Ìý —Ìý
Right-of-use assets - finance leases 97Ìý 93Ìý 55Ìý
Cash paid for capital expenditures including deposits $ 695Ìý $ 646Ìý $ 943Ìý
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 DecemberÌý31, 2024, 2023 and 2022, grant reimbursements were $8Ìýmillion, $13Ìýmillion and $27Ìýmillion, respectively.
Cash payments (receipts) for interest and income taxes are as follows:
Year Ended December 31,
(In millions) 2024 2023 2022
Income taxes paid $ 17Ìý $ 94Ìý $ 334Ìý
Income tax refunds (47) (205) (3)
Interest paid on debt obligations net of capitalized interest1
255Ìý 256Ìý 249Ìý
1 Capitalized interest was $15 million, $12 million and $9 million for the years ended DecemberÌý31, 2024, 2023 and 2022, respectively.
Schedule of Noncash or Part Noncash Acquisitions
Other non-cash investing and financing activities are as follows:
Year Ended December 31,
(In millions) 2024 2023 2022
Fair value of common shares issued as part of consideration in connection with the Stelco Acquisition $ 343Ìý $ —Ìý $ —Ìý
1.500% 2025 Convertible Senior Notes redemption —Ìý —Ìý 25Ìý