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Quarterly report [Sections 13 or 15(d)]

DERIVATIVE INSTRUMENTS AND HEDGING (Tables)

v3.25.1
DERIVATIVE INSTRUMENTS AND HEDGING (Tables)
3 Months Ended
Mar. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Notional Amounts of Outstanding Derivative Positions
The following table presents the notional amount of our outstanding hedge contracts:
Notional Amount
Hedge Contract Type Classification Unit of Measure Maturity Dates March 31,
2025
December 31,
2024
Natural Gas Commodity purchase swaps MMBtu April 2025 - August 2027 120,600,000  143,250,000 
Electricity Commodity purchase swaps Megawatt hours April 2025 - October 2027 2,729,940  3,224,227 
HRC Sales swaps Metric tons April 2025 - August 2025 395,000  — 
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value
The following table presents the fair value of our outstanding cash flow hedges and the classification in the Statements of Unaudited Condensed Consolidated Financial Position:
Balance Sheet Location (In millions) March 31,
2025
December 31,
2024
Other current assets $ 69  $
Other non-current assets 25 
Other current liabilities (8) (41)
Other non-current liabilities   (6)
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