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Annual report pursuant to Section 13 and 15(d)

GOODWILL AND INTANGIBLE ASSETS AND LIABILITIES (Tables)

v3.24.0.1
GOODWILL AND INTANGIBLE ASSETS AND LIABILITIES (Tables)
 12 Months Ended
Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract] Ìý
Schedule of Goodwill by Segment
The following is a summary of Goodwill by segment:
December 31,
(In millions) 2023 2022
Steelmaking $ 956Ìý $ 956Ìý
Other Businesses 49Ìý 174Ìý
Total goodwill $ 1,005Ìý $ 1,130Ìý
Summary of Intangible Assets and Liabilities
The following is a summary of our intangible assets and liabilities:
December 31, 2023 December 31, 2022
(In millions) Gross Amount Accumulated Amortization Net Amount Gross Amount Accumulated Amortization Net Amount
Intangible assets1:
Customer relationships $ 90Ìý $ (18) $ 72Ìý $ 90Ìý $ (13) $ 77Ìý
Developed technology 60Ìý (14) 46Ìý 60Ìý (10) 50Ìý
Trade names and trademarks 18Ìý (5) 13Ìý 18Ìý (4) 14Ìý
Mining permits 72Ìý (28) 44Ìý 72Ìý (27) 45Ìý
Supplier relationships 29Ìý (3) 26Ìý 29Ìý (1) 28Ìý
Total intangible assets $ 269Ìý $ (68) $ 201Ìý $ 269Ìý $ (55) $ 214Ìý
Intangible liabilities2:
Above-market supply contracts $ (71) $ 24Ìý $ (47) $ (71) $ 19Ìý $ (52)
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.