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Quarterly report pursuant to Section 13 or 15(d)

GOODWILL AND INTANGIBLE ASSETS AND LIABILITIES (Tables)

v3.24.2
GOODWILL AND INTANGIBLE ASSETS AND LIABILITIES (Tables)
 6 Months Ended
Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract] Ìý
Schedule of Goodwill
The following is a summary of Goodwill by segment:
(In millions) June 30,
2024		 December 31,
2023
Steelmaking $ 956Ìý $ 956Ìý
Other Businesses 49Ìý 49Ìý
Total goodwill $ 1,005Ìý $ 1,005Ìý
Schedule of Intangible Assets and Liabilities
The following is a summary of our intangible assets and liabilities:
JuneÌý30, 2024
DecemberÌý31, 2023
(In millions) Gross Amount Accumulated Amortization Net Amount Gross Amount Accumulated Amortization Net Amount
Intangible assets1:
Customer relationships $ 90Ìý $ (21) $ 69Ìý $ 90Ìý $ (18) $ 72Ìý
Developed technology 60Ìý (16) 44Ìý 60Ìý (14) 46Ìý
Trade names and trademarks 18Ìý (6) 12Ìý 18Ìý (5) 13Ìý
Mining permits 72Ìý (28) 44Ìý 72Ìý (28) 44Ìý
Supplier relationships 29Ìý (4) 25Ìý 29Ìý (3) 26Ìý
Total intangible assets $ 269Ìý $ (75) $ 194Ìý $ 269Ìý $ (68) $ 201Ìý
Intangible liabilities2:
Above-market supply contracts $ (71) $ 27Ìý $ (44) $ (71) $ 24Ìý $ (47)
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.