Exhibit 99.1

NEWS RELEASE
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CONTACT:
Media
Meghan Cox        
Manager                
Corporate Communications    
T - (412) 433-6777         
E - mmcox@uss.com         

Investors/Analysts
Dan Lesnak
General Manager
Investor Relations
T - (412) 433-1184
E - dtlesnak@uss.com





FOR IMMEDIATE RELEASE:
UNITED STATES STEEL CORPORATION REPORTS SECOND QUARTER 2017 RESULTS

•
Net earnings of $261 million, or $1.48 per diluted share
•
Second quarter cash flow from operations of $377 million
•
Total liquidity of $3.3 billion, including $1.5 billion of cash
•
EBITDA of $434 million; Adjusted EBITDA of $362 million
•
2017 net earnings Outlook of $300 million; 2017 adjusted EBITDA Outlook of approximately $1.1 billion

PITTSBURGH, July 25, 2017 – United States Steel Corporation (NYSE: X) reported second quarter 2017 net earnings of $261 million, or $1.48 per diluted share, which included a gain of $72 million, or $0.41 per diluted share which represents the recovery in excess of our retained interest resulting from the sale of
U. S. Steel Canada Inc. This compared to a second quarter 2016 net loss of $46 million, or $0.32 per diluted share, and a first quarter 2017 net loss of $180 million, or $1.03 per diluted share.
    

2


Earnings Highlights
 
(Dollars in millions, except per share amounts)
2Q 2017
1Q 2017
2Q 2016
Net Sales
$
3,144

$
2,725

$
2,584

Segment earnings (loss) before interest and income taxes




     Flat-Rolled
$
218

$
(90
)
$
6

     U. S. Steel Europe
55

87

55

     Tubular
(29
)
(57
)
(78
)
     Other Businesses
9

13

10

Total segment earnings (loss) before interest and income taxes
$
253

$
(47
)
$
(7
)
Postretirement benefit (expense) income
(12
)
(16
)
12

Other items not allocated to segments
72

(35
)
23

Earnings (loss) before interest and income taxes
$
313

$
(98
)
$
28

Net interest and other financial costs
68

63

81

Income tax (benefit) provision
(16
)
19

(7
)
Less: Net earnings attributable to the noncontrolling interests
—

—

—

Net earnings (loss) attributable to United States Steel Corporation
$
261

$
(180
)
$
(46
)
-Earnings (loss) per basic share
$
1.49

$
(1.03
)
$
(0.32
)
-Earnings (loss) per diluted share
$
1.48

$
(1.03
)
$
(0.32
)
 
 
 
 
Adjusted earnings before interest, income taxes, depreciation and amortization (EBITDA) (a)
$
362

$
74

$
134

(a) Please refer to the non-GAAP Financial Measures section of this document for the reconciliation of net earnings (loss) attributable to United States Steel Corporation to adjusted EBITDA.
    
Commenting on results, U. S. Steel President and Chief Executive Officer Dave Burritt said, "Our facilities performed better in the second quarter, particularly in our Flat-Rolled segment. Better operations, combined with higher prices and volumes in all of our segments and improved results from our mining operations, resulted in a $300 million improvement in our segment results compared with the first quarter. Our European operations continue to deliver solid earnings and our Tubular operations continue to make progress towards returning to profitability. We are focused on our strategic priorities: driving operational excellence across our business – from our plants to our support teams; investing in our facilities through our asset revitalization program; and providing our employees with the resources they need to implement positive, substantive changes. Successful execution of this strategy will result in continuous improvements in safety, quality, delivery and costs and create meaningful value and returns for all of our stakeholders, including employees, customers and stockholders.”



3


Segment earnings before interest and income taxes were $253 million, or $66 per ton, for the second quarter of 2017 compared with segment loss before interest and income taxes of $47 million, or $13 per ton, in the first quarter of 2017 and a segment loss before interest and income taxes of $7 million, or $2 per ton, in the second quarter of 2016. For the second quarter of 2017, we recorded a tax benefit of $16 million on our pretax earnings of $245 million.
We had positive operating cash flow of $242 million for the six months ended June 30, 2017. As of June 30, 2017, we had $1.5 billion of cash and $3.3 billion of total liquidity, our highest liquidity since the separation from Marathon Oil at the end of 2001.
Segment Analysis
Second quarter results for our Flat-Rolled segment improved significantly compared with the first quarter, primarily due to higher results from our mining operations and a second consecutive quarter of increasing average realized prices and shipments. The higher results from our mining operations reflect the benefits from the restart of our Keetac facility to support third-party pellet sales, as well as normal seasonal improvements.
Second quarter results for our European segment declined compared with the first quarter due to an unfavorable first-in-first-out (FIFO) inventory impact, only partially offset by increased average realized prices and shipments, lower raw material and energy costs, and a favorable impact from foreign exchange rates.
Second quarter results for our Tubular segment improved compared with the first quarter due to increased average realized prices and shipments, as well as operational efficiencies. These benefits were partially offset by increased substrate costs.
2017 Outlook
Commenting on U. S. Steel’s Outlook for 2017, Burritt said, "We are seeing a more bullish sentiment in the markets served by our Flat-Rolled and European segments right now, as prices have been increasing and overall demand has been stable. Our Tubular segment continues to benefit from operational and cost improvements we have made, as well as from stronger market conditions. Our investment in our facilities and our people continues to increase. These strategic investments, combined with our focus on achieving operational excellence, will deliver continuous improvements in safety, quality, delivery and costs that will position us to succeed through business cycles, and support future growth initiatives."
    



4


If market conditions remain at their current levels, we expect:
•
2017 net earnings of approximately $300 million, or $1.70 per share, and consolidated adjusted EBITDA of approximately $1.1 billion;
◦
EBITDA by Segment;
◦
Flat-Rolled EBITDA of approximately $750 million;
◦
U. S. Steel Europe EBITDA of approximately $400 million;
◦
Tubular EBITDA of approximately ($50) million; and
•
Other Businesses to be comparable to 2016 and approximately $60 million of postretirement benefit expense
We believe market conditions, which include spot prices, raw material costs, customer demand, import volumes, supply chain inventories, rig counts and energy prices, will change, and as changes occur during the balance of 2017, we expect these changes to be reflected in our net earnings and adjusted EBITDA.
Please refer to the non-GAAP Financial Measures section of this document for the reconciliation of Outlook net earnings to consolidated Outlook adjusted EBITDA and Outlook segment earnings (loss) before interest and income taxes to segment Outlook EBITDA.
*****
We present adjusted net earnings (loss), adjusted net earnings (loss) per diluted share, earnings (loss) before interest, income taxes, depreciation and amortization (EBITDA) and adjusted EBITDA, which are non-GAAP measures, as additional measurements to enhance the understanding of our operating performance.
We believe that EBITDA, considered along with net earnings (loss), is a relevant indicator of trends relating to cash generating activity and provides management and investors with additional information for comparison of our operating results to the operating results of other companies.
Adjusted net earnings (loss) and adjusted net earnings (loss) per diluted share are non-GAAP measures that exclude the effects of gains (losses) associated with our retained interest in U. S. Steel Canada Inc., restructuring charges and impairment charges that are not part of the Company's core operations. Adjusted EBITDA is also a non-GAAP measure that excludes the effects of gains (losses) associated with our retained interest in U. S. Steel Canada Inc., restructuring charges and impairment charges. We present adjusted net earnings (loss), adjusted net earnings (loss) per diluted share and adjusted EBITDA to enhance the understanding of our ongoing operating performance and established trends affecting our core operations,

5


particularly cash generating activity, by excluding the effects of gains (losses) associated with our retained interest in U. S. Steel Canada Inc., restructuring charges and impairment charges that can obscure underlying trends. U. S. Steel’s management considers adjusted net earnings (loss), adjusted net earnings (loss) per diluted share and adjusted EBITDA useful to investors by facilitating a comparison of our operating performance to the operating performance of our competitors, many of which use adjusted net earnings (loss), adjusted net earnings (loss) per diluted share and adjusted EBITDA as alternative measures of operating performance. Additionally, the presentation of adjusted net earnings (loss), adjusted net earnings (loss) per diluted share and adjusted EBITDA provides insight into management’s view and assessment of the Company’s ongoing operating performance, because management does not consider the adjusting items when evaluating the Company’s financial performance or in preparing the Company’s annual financial Outlook. Adjusted net earnings (loss), adjusted net earnings (loss) per diluted share and adjusted EBITDA should not be considered a substitute for net earnings (loss), earnings (loss) per diluted share or other financial measures as computed in accordance with U.S. GAAP and is not necessarily comparable to similarly titled measures used by other companies.
A consolidated statement of operations (unaudited), consolidated cash flow statement (unaudited), condensed consolidated balance sheet (unaudited) and preliminary supplemental statistics (unaudited) for U. S. Steel are attached.
The Company will conduct a conference call on second quarter earnings on Wednesday, July 26, at 8:30 a.m. Eastern Daylight. To listen to the webcast of the conference call, visit the U. S. Steel website, www.ussteel.com, and click on the “Investors” section.
For more information on U. S. Steel, visit our website at www.ussteel.com.


6


CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This release contains information that may constitute “forward-looking statements” within the meaning of Section 27 of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. We intend the forward-looking statements to be covered by the safe harbor provisions for forward-looking statements in those sections. Generally, we have identified such forward-looking statements by using the words “believe,” “expect,” “intend,” “estimate,” “anticipate,” “project,” “target,” “forecast,” “aim,” “should,” “will” and similar expressions or by using future dates in connection with any discussion of, among other things, operating performance, trends, events or developments that we expect or anticipate will occur in the future, statements relating to volume growth, share of sales and earnings per share growth, and statements expressing general views about future operating results. However, the absence of these words or similar expressions does not mean that a statement is not forward-looking. Forward-looking statements are not historical facts, but instead represent only the Company’s beliefs regarding future events, many of which, by their nature, are inherently uncertain and outside of the Company’s control. It is possible that the Company’s actual results and financial condition may differ, possibly materially, from the anticipated results and financial condition indicated in these forward-looking statements. Management believes that these forward-looking statements are reasonable as of the time made. However, caution should be taken not to place undue reliance on any such forward-looking statements because such statements speak only as of the date when made. Our Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. In addition, forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from our Company's historical experience and our present expectations or projections. These risks and uncertainties include, but are not limited to the risks and uncertainties described in “Item 1A. Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2016, and those described from time to time in our future reports filed with the Securities and Exchange Commission.
References to "we," "us," "our," the "Company," and "U. S. Steel," refer to United States Steel Corporation and its consolidated subsidiaries.

-oOo-
2017-025



UNITED STATES STEEL CORPORATION
STATEMENT OF OPERATIONS (Unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Quarter Ended
 
Six Months Ended
 
 
 
June 30
 
March 31
 
June 30
 
June 30,
(Dollars in millions, except per share amounts)
2017
 
2017
 
2016
 
2017
 
2016
NET SALES
 
$
3,144

 
$
2,725

 
$
2,584

 
$
5,869

 
$
4,925

 
 
 
 
 
 
 
 
 
 
 
 
OPERATING EXPENSES (INCOME):
 
 
 
 
 
 
 
 
 
 
Cost of sales (excludes items shown below)
2,725

 
2,561

 
2,397

 
5,286

 
4,833

 
Selling, general and administrative expenses
79

 
97

 
64

 
176

 
133

 
Depreciation, depletion and amortization
121

 
137

 
129

 
258

 
258

 
Earnings from investees
(16
)
 
(4
)
 
(28
)
 
(20
)
 
(73
)
 
Gain associated with retained interest in U. S. Steel Canada Inc.
(72
)
 
—

 
—

 
(72
)
 
—

 
Restructuring and other charges
(1
)
 
33

 
(6
)
 
32

 
4

 
Net (gain) loss on disposal of assets
—

 
(1
)
 
—

 
(1
)
 
3

 
Other income, net
(5
)
 
—

 
—

 
(5
)
 
—

 
 
 
 
 
 
 
 
 
 
 
 
 
           Total operating expenses
2,831

 
2,823

 
2,556

 
5,654

 
5,158

 
 
 
 
 
 
 
 
 
 
 
 
EARNINGS (LOSS) BEFORE INTEREST AND INCOME TAXES
313

 
(98
)
 
28

 
215

 
(233
)
Net interest and other financial costs
68

 
63

 
81

 
131

 
146

 
 
 
 
 
 
 
 
 
 
 
 
 
EARNINGS (LOSS) BEFORE INCOME TAXES
245

 
(161
)
 
(53
)
 
84

 
(379
)
Income tax (benefit) provision
(16
)
 
19

 
(7
)
 
3

 
7

 
 
 
 
 
 
 
 
 
 
 
 
Net earnings (loss)
261

 
(180
)
 
(46
)
 
81

 
(386
)
 
Less: Net earnings (loss) attributable to the
 
 
 
 
 
 
 
 
 
 
   noncontrolling interests
—

 
—

 
—

 
—

 
—

NET EARNINGS (LOSS) ATTRIBUTABLE TO
 
 
 
 
 
 
 
 
 
 
UNITED STATES STEEL CORPORATION
$
261

 
$
(180
)
 
$
(46
)
 
$
81

 
$
(386
)
 
 
 
 
 
 
 
 
 
 
 
 
COMMON STOCK DATA:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net earnings (loss) per share attributable to
 
 
 
 
 
 
 
 
 
   United States Steel Corporation stockholders:
 
 
 
 
 
 
 
 
 
 
Basic
 
$
1.49

 
$
(1.03
)
 
$
(0.32
)
 
$
0.46

 
$
(2.64
)
 
Diluted
 
$
1.48

 
$
(1.03
)
 
$
(0.32
)
 
$
0.46

 
$
(2.64
)
 
 
 
 
 
 
 
 
 
 
 
 
Weighted average shares, in thousands
 
 
 
 
 
 
 
 
 
 
Basic
 
174,797

 
174,242

 
146,582

 
174,521

 
146,492

 
Diluted
 
176,028

 
174,242

 
146,582

 
176,319

 
146,492

 
 
 
 
 
 
 
 
 
 
 
 
Dividends paid per common share
$
0.05

 
$
0.05

 
$
0.05

 
$
0.10

 
$
0.10







UNITED STATES STEEL CORPORATION
CASH FLOW STATEMENT (Unaudited)
 
 
 
 
 
 
 
 
 
 
 
Six Months Ended
 
 
 
 
June 30,
(Dollars in millions)
 
2017
 
2016
Cash provided by operating activities:
 
 
 
 
Net earnings (loss)
 
$
81

 
$
(386
)
 
Depreciation, depletion and amortization
258

 
258

 
Gain associated with retained interest in U. S. Steel Canada Inc.
(72
)
 
—

 
Restructuring and other charges
32

 
4

 
Pensions and other postretirement benefits
31

 
(21
)
 
Deferred income taxes
2

 
2

 
Net (gain) loss on disposal of assets
(1
)
 
3

 
Working capital changes
(199
)
 
435

 
Income taxes receivable/payable
20

 
6

 
Other operating activities
90

 
12

 
 
Total
 
242

 
313

 
 
 
 
 
 
 
Cash used in investing activities:
 
 
 
 
Capital expenditures
 
(120
)
 
(217
)
 
Disposal of assets
 
—

 
1

 
Other investing activities
 
(2
)
 
(18
)
 
 
Total
 
(122
)
 
(234
)
 
 
 
 
 
 
 
Cash used in financing activities:
 
 
 
 
Issuance of long-term debt, net of financing costs
 
—

 
958

 
Repayment of long-term debt
 
(108
)
 
(962
)
 
Dividends paid
 
(18
)
 
(15
)
 
Receipts from exercise of stock options
 
13

 
—

 
Taxes paid for equity compensation plans (a)
 
(10
)
 
—

 
 
Total
 
(123
)
 
(19
)
 
 
 
 
 
 
 
Effect of exchange rate changes on cash
10

 
5

 
 
 
 
 
 
 
Net increase in cash and cash equivalents
7

 
65

Cash and cash equivalents at beginning of the year
1,515

 
755

 
 
 
 
 
 
 
Cash and cash equivalents at end of the period
$
1,522

 
$
820

(a) Effective January 1, 2017, the Company adopted Accounting Standards Update No. 2016-09, Compensation - Stock Compensation (ASU 2016-09). As a result of adopting ASU 2016-09, cash taxes paid by the Company when directly withholding shares for tax withholding purposes have been classified as a cash flow financing activity. The adoption of this component of ASU 2016-09 was applied retrospectively, but was not significant to the cash flow statement for the six months ended June 30, 2016.






UNITED STATES STEEL CORPORATION
CONDENSED BALANCE SHEET (Unaudited)
 
 
 
 
 
 
 
 
 
June 30
 
Dec. 31
(Dollars in millions)
 
2017
 
2016
Cash and cash equivalents
$
1,522

 
$
1,515

Receivables, net
1,444

 
1,248

Inventories
1,727

 
1,573

Other current assets
30

 
20

 
Total current assets
4,723

 
4,356

Property, plant and equipment, net
4,010

 
3,979

Investments and long-term receivables, net
548

 
528

Intangible assets, net
171

 
175

Other assets
128

 
122

 
 
 
 
 
 
 
Total assets
 
$
9,580

 
$
9,160

 
 
 
 
 
 
Accounts payable and other accrued liabilities
$
2,025

 
$
1,668

Payroll and benefits payable
338

 
400

Short-term debt and current maturities of long-term debt
175

 
50

Other current liabilities
213

 
213

 
Total current liabilities
2,751

 
2,331

Long-term debt, less unamortized discount and debt issuance costs
2,752

 
2,981

Employee benefits
1,151

 
1,216

Other long-term liabilities
371

 
357

United States Steel Corporation stockholders' equity
2,554

 
2,274

Noncontrolling interests
1

 
1

 
 
 
 
 
 
 
Total liabilities and stockholders' equity
$
9,580

 
$
9,160















UNITED STATES STEEL CORPORATION
NON-GAAP FINANCIAL MEASURES (Unaudited)
    
RECONCILIATION OF ADJUSTED EBITDA
 
 
 
 
 
 
 
 
 
Quarter Ended
 
 
June 30
 
March 31
 
June 30
(Dollars in millions)
2017
 
2017
 
2016
Reconciliation to Adjusted EBITDA
 
 
 
 
 
 
Net earnings (loss) attributable to United States Steel Corporation
$
261

 
$
(180
)
 
$
(46
)
 
Income tax (benefit) provision
(16
)
 
19

 
(7
)
 
Net interest and other financial costs
68

 
63

 
81

 
Depreciation, depletion and amortization expense
121

 
137

 
129

 
EBITDA
434

 
39

 
157

 
Gain associated with retained interest in U. S. Steel Canada Inc.
(72
)
 
—

 
—

 
Loss on shutdown of certain tubular assets
—

 
35

 
—

 
Supplemental unemployment and severance costs
—

 
—

 
(23
)
 
Adjusted EBITDA
$
362

 
$
74

 
$
134



 
 
 
 
 
 
 
 
 
Quarter Ended(a)
 
 
June 30
 
March 31
 
June 30
(Dollars in millions, except per share amounts)
2017
 
2017
 
2016
Reconciliation to adjusted net earnings (loss) attributable to United States Steel Corporation
 
 
 
 
 
 
Net earnings (loss) attributable to United States Steel Corporation
$
261

 
$
(180
)
 
$
(46
)
 
Gain associated with retained interest in U. S. Steel Canada Inc.
(72
)
 
—

 
—

 
Loss on shutdown of certain tubular assets
—

 
35

 
—

 
Supplemental unemployment and severance costs
—

 
—

 
(23
)
 
Loss on debt extinguishment
—

 
—

 
24

 
     Total adjustments
—

 
35

 
1

 
Adjusted net earnings (loss) attributable to United States Steel Corporation
$
189

 
$
(145
)
 
$
(45
)
 
 
 
 
 
 
 
Reconciliation to adjusted diluted net earnings (loss) per share
 
 
 
 
 
 
Diluted net earnings (loss) per share
$
1.48

 
$
(1.03
)
 
$
(0.32
)
 
Gain associated with retained interest in U. S. Steel Canada Inc.
(0.41
)
 
—

 
—

 
Loss on shutdown of certain tubular assets
—

 
0.20

 
—

 
Supplemental unemployment and severance costs
—

 
—

 
(0.16
)
 
Loss on debt extinguishment
—

 
—

 
0.17

 
     Total adjustments
(0.41
)
 
0.20

 
0.01

 
Adjusted diluted net earnings (loss) per share
$
1.07

 
$
(0.83
)
 
$
(0.31
)
(a) The adjustments included in this table have been tax effected at a 0% tax rate due to the recognition of a full valuation allowance.





UNITED STATES STEEL CORPORATION
RECONCILIATION OF ANNUAL ADJUSTED EBITDA OUTLOOK
 
 
 
 
 
Year Ended
 
 
Dec. 31
(Dollars in millions)
2017
Reconciliation to Projected Annual Adjusted EBITDA Included in Outlook
 
 
Projected net earnings attributable to United States Steel Corporation included in Outlook
$
300

 
Estimated income tax expense
57

 
Estimated net interest and other financial costs
255

 
Estimated depreciation, depletion and amortization
525

 
Gain associated with retained interest in U. S. Steel Canada Inc.
(72
)
 
Loss on shutdown of certain tubular assets
35

 
Projected annual adjusted EBITDA included in Outlook
$
1,100



UNITED STATES STEEL CORPORATION
RECONCILIATION OF OUTLOOK SEGMENT EARNINGS (LOSS) BEFORE INTEREST AND INCOME TAXES TO OUTLOOK SEGMENT EBITDA

 
 
 
 
 
(Dollars in millions)
Flat-Rolled
U. S. Steel Europe
Tubular
Reconciliation to Segment EBITDA Included in Outlook
 
 
 
 
Projected segment earnings (loss) before interest and income taxes included in Outlook
$
380

$
325

$
(105
)
 
Estimated depreciation, depletion and amortization
370

75

55

 
Projected annual segment EBITDA included in Outlook
$
750

$
400

$
(50
)






UNITED STATES STEEL CORPORATION
PRELIMINARY SUPPLEMENTAL STATISTICS (Unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
Quarter Ended
 
Six Months Ended
 
 
June 30
 
March 31
 
June 30
 
June 30,
(Dollars in millions)
2017
 
2017
 
2016
 
2017
 
2016
SEGMENT EARNINGS (LOSS) BEFORE INTEREST AND INCOME TAXES
 
 
 
 
 
 
 
 
 
 
Flat-Rolled
$
218

 
$
(90
)
 
$
6

 
$
128

 
$
(182
)
 
U. S. Steel Europe
55

 
87

 
55

 
142

 
41

 
Tubular
(29
)
 
(57
)
 
(78
)
 
(86
)
 
(142
)
 
Other Businesses
9

 
13

 
10

 
22

 
24

Total Segment Earnings (Loss) Before Interest and Income Taxes
253

 
(47
)
 
(7
)
 
206

 
(259
)
 
Postretirement benefit (expense) income
(12
)
 
(16
)
 
12

 
(28
)
 
28

 
Other items not allocated to segments:
 
 
 
 
 
 


 


 
Gain associated with retained interest in U. S. Steel Canada Inc.
72

 
—

 
—

 
72

 
—

 
Loss on shutdown of certain tubular assets
—

 
(35
)
 
—

 
(35
)
 
—

 
Supplemental unemployment and severance costs
—

 
—

 
23

 
—

 
(2
)
 
 
 
 
 
 
 
 
 
 
 
 
Earnings (loss) before interest and income taxes
$
313

 
$
(98
)
 
$
28

 
$
215

 
$
(233
)
 
 
 
 
 
 
 
 
 
 
 
CAPITAL EXPENDITURES
 
 
 
 
 
 
 
 
 
 
Flat-Rolled
$
47

 
$
25

 
$
28

 
$
72

 
$
74

 
U. S. Steel Europe
20

 
14

 
22

 
34

 
51

 
Tubular
4

 
7

 
18

 
11

 
70

 
Other Businesses
2

 
1

 
1

 
3

 
22

 
 
 
 
 
 
 
 
 
 
 
 
          Total
$
73

 
$
47

 
$
69

 
$
120

 
$
217









UNITED STATES STEEL CORPORATION
PRELIMINARY SUPPLEMENTAL STATISTICS (Unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Quarter Ended
 
Six Months Ended
 
 
 
 
June 30
 
March 31
 
June 30
 
June 30,
 
 
 
 
2017
 
2017
 
2016
 
2017
 
2016
OPERATING STATISTICS
 
 
 
 
 
 
 
 
 
 
Average realized price: (a)
 
 
 
 
 
 
 
 
 
 
 
Flat-Rolled ($/net ton)
742

 
719

 
642

 
731

 
625

 
 
U. S. Steel Europe ($/net ton)
620

 
594

 
485

 
607

 
472

 
 
    U. S. Steel Europe (euro/net ton)
563

 
558

 
430

 
561

 
423

 
 
Tubular ($/net ton)
1,234

 
1,097

 
1,050

 
1,173

 
1,123

 
Steel Shipments (thousands of net tons):(a)
 
 
 
 
 
 


 


 
 
Flat-Rolled
2,497

 
2,404

 
2,692

 
4,901

 
5,188

 
 
U. S. Steel Europe
1,157

 
1,109

 
1,125

 
2,266

 
2,129

 
 
Tubular
180

 
144

 
70

 
324

 
159

 
 
 
Total Steel Shipments
3,834

 
3,657

 
3,887

 
7,491

 
7,476

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Intersegment Shipments (thousands of net tons):
 
 
 
 
 
 
 
 
 
 
 
Flat-Rolled to Tubular
94

 
—

 
—

 
94

 
—

 
 
USSE to Flat-Rolled
25

 
22

 
—

 
47

 
—

 
Raw Steel Production (thousands of net tons):
 
 
 
 
 
 

 

 
 
Flat-Rolled
2,711

 
2,714

 
2,735

 
5,425

 
5,514

 
 
U. S. Steel Europe
1,285

 
1,258

 
1,258

 
2,543

 
2,410

 
Raw Steel Capability Utilization: (b)
 
 
 
 
 
 
 
 
 
 
 
Flat-Rolled
64
%
 
65
%
 
65
%
 
64
%
 
65
%
 
 
U. S. Steel Europe
103
%
 
102
%
 
101
%
 
103
%
 
97
%
(a) Excludes intersegment shipments.
(b) Based on annual raw steel production capability of 17.0 million net tons for Flat-Rolled and 5.0 million net tons for U. S. Steel Europe.