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Annual report pursuant to Section 13 and 15(d)

Statements Of Consolidated Cash Flows

v3.22.4
Statements Of Consolidated Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
OPERATING ACTIVITIES Ìý Ìý Ìý
Net income (loss) $ 1,376 $ 3,033 $ (81)
Adjustments to reconcile net income (loss) to net cash provided (used) by operating activities: Ìý Ìý Ìý
Depreciation, depletion and amortization 1,034 897 308
Amortization of inventory step-up 0 161 96
Deferred income taxes 90 767 (101)
Pension and OPEB credits (132) (103) (23)
Loss (gain) on extinguishment of debt 75 88 (130)
Impairment of long-lived assets 29 1 0
Other 122 138 (70)
Changes in operating assets and liabilities, net of business combination: Ìý Ìý Ìý
Receivables and other assets 177 (722) (91)
Inventories 64 (1,370) (146)
Income taxes (22) (136) 50
Pension and OPEB payments and contributions (204) (343) (75)
Payables, accrued expenses and other liabilities (186) 374 5
Net cash provided (used) by operating activities 2,423 2,785 (258)
INVESTING ACTIVITIES Ìý Ìý Ìý
Purchase of property, plant and equipment (943) (705) (525)
Other investing activities 38 33 10
Net cash used by investing activities (936) (1,379) (2,042)
FINANCING ACTIVITIES Ìý Ìý Ìý
Series B Redeemable Preferred Stock redemption 0 (1,343) 0
Proceeds from issuance of common shares 0 322 0
Repurchase of common shares (240) 0 0
Proceeds from issuance of debt 0 1,000 1,763
Debt issuance costs 0 (20) (76)
Repayments of debt (1,358) (1,372) (1,023)
Borrowings under credit facilities 5,749 5,962 2,060
Repayments under credit facilities (5,494) (5,889) (550)
Other financing activities (166) (130) (115)
Net cash provided (used) by financing activities (1,509) (1,470) 2,059
Net decrease in cash and cash equivalents (22) (64) (241)
Cash and cash equivalents at beginning of year 48 112 353
Cash and cash equivalents at end of year 26 48 112
Ferrous Processing and Trading Ìý Ìý Ìý
INVESTING ACTIVITIES Ìý Ìý Ìý
Payments to Acquire Businesses, Net of Cash Acquired (31) (761) 0
ArcelorMittal USA Ìý Ìý Ìý
INVESTING ACTIVITIES Ìý Ìý Ìý
Payments to Acquire Businesses, Net of Cash Acquired 0 54 (658)
AK Steel Ìý Ìý Ìý
INVESTING ACTIVITIES Ìý Ìý Ìý
Payments to Acquire Businesses, Net of Cash Acquired $ 0 $ 0 $ (869)