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

GOODWILL AND INTANGIBLE ASSETS AND LIABILITIES (Tables)

v3.25.0.1
GOODWILL AND INTANGIBLE ASSETS AND LIABILITIES (Tables)
 12 Months Ended
Dec. 31, 2024
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) 2024 2023
Steelmaking $ 1,719Ìý $ 956Ìý
Other Businesses 49Ìý 49Ìý
Total goodwill $ 1,768Ìý $ 1,005Ìý
Summary of Intangible Assets and Liabilities
The following is a summary of our intangible assets and liabilities:
December 31, 2024 December 31, 2023
(In millions) Gross Amount Accumulated Amortization Net Amount Gross Amount Accumulated Amortization Net Amount
Intangible assets1:
Customer relationships $ 1,015Ìý $ (34) $ 981Ìý $ 90Ìý $ (18) $ 72Ìý
Developed technology 60Ìý (17) 43Ìý 60Ìý (14) 46Ìý
Trade names and trademarks 87Ìý (8) 79Ìý 18Ìý (5) 13Ìý
Mining permits 72Ìý (29) 43Ìý 72Ìý (28) 44Ìý
Supplier relationships 29Ìý (5) 24Ìý 29Ìý (3) 26Ìý
Total intangible assets $ 1,263Ìý $ (93) $ 1,170Ìý $ 269Ìý $ (68) $ 201Ìý
Intangible liabilities2:
Above-market supply contracts $ (71) $ 30Ìý $ (41) $ (71) $ 24Ìý $ (47)
1 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.