v3.26.3
DERIVATIVE INSTRUMENTS AND HEDGING (Tables)
9 Months Ended
Sep. 30, 2026
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 ContractClassificationUnit of Measure
Hedged Periods as of September 30, 2026
September 30,
2026
December 31,
2025
Natural GasCommodity purchase swapsMMBtuOctober 2026 - June 2029124,905,000 139,300,000 
ElectricityCommodity purchase swapsMegawatt hoursOctober 2026 - September 20292,438,620 1,974,380 
HRCSales swapsNet tonsOctober 2026 - December 2027566,434 220,220 
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)September 30,
2026
December 31,
2025
Other current assets$15 $7 
Other non-current assets13 10 
Other current liabilities(170)(24)
Other non-current liabilities(8)(2)