Seasonal minimum Antarctic sea ice extent (SIE) in 2022 hit a new record low since recordkeeping began in 1978 of 1.9 million km2 on 25 February, 0.17 million km2 lower than the previous record low set in 2017. Significant negative anomalies in the Bellingshausen/Amundsen Seas, the Weddell Sea, and the western Indian Ocean sector led to the new record minimum. The sea ice budget analysis presented here shows that thermodynamic processes dominate sea ice loss in summer through enhanced poleward heat transport and albedo-temperature feedback. In spring, both dynamic and thermodynamic processes contribute to negative sea ice anomalies. Specifically, dynamic ice loss dominates in the Amundsen Sea as evidenced by sea ice thickness (SIT) change, while positive surface heat fluxes contribute most to sea ice melt in the Weddell Sea.