FALSE2023Q10001163302--12-31P7YP4Y1010.0748391http://fasb.org/us-gaap/2023#AccountingStandardsUpdate202006Member00011633022023-01-012023-03-310001163302exch:XNYS2023-01-012023-03-310001163302exch:XCHI2023-01-012023-03-3100011633022023-04-24xbrli:shares0001163302us-gaap:NonrelatedPartyMember2023-01-012023-03-31iso4217:USD0001163302us-gaap:NonrelatedPartyMember2022-01-012022-03-310001163302us-gaap:RelatedPartyMember2023-01-012023-03-310001163302us-gaap:RelatedPartyMember2022-01-012022-03-3100011633022022-01-012022-03-31iso4217:USDxbrli:shares00011633022023-03-3100011633022022-12-310001163302us-gaap:NonrelatedPartyMember2023-03-310001163302us-gaap:NonrelatedPartyMember2022-12-310001163302us-gaap:RelatedPartyMember2023-03-310001163302us-gaap:RelatedPartyMember2022-12-3100011633022021-12-3100011633022022-03-31xbrli:pure0001163302srt:MinimumMember2023-03-310001163302srt:MaximumMember2023-03-31x:Segment0001163302x:FlatRolledProductsMember2023-01-012023-03-310001163302us-gaap:IntersegmentEliminationMemberx:FlatRolledProductsMember2023-01-012023-03-310001163302srt:ReportableLegalEntitiesMemberx:FlatRolledProductsMember2023-01-012023-03-310001163302x:MiniMillMember2023-01-012023-03-310001163302us-gaap:IntersegmentEliminationMemberx:MiniMillMember2023-01-012023-03-310001163302x:MiniMillMembersrt:ReportableLegalEntitiesMember2023-01-012023-03-310001163302x:UsSteelEuropeMember2023-01-012023-03-310001163302us-gaap:IntersegmentEliminationMemberx:UsSteelEuropeMember2023-01-012023-03-310001163302srt:ReportableLegalEntitiesMemberx:UsSteelEuropeMember2023-01-012023-03-310001163302x:TubularProductsMember2023-01-012023-03-310001163302us-gaap:IntersegmentEliminationMemberx:TubularProductsMember2023-01-012023-03-310001163302x:TubularProductsMembersrt:ReportableLegalEntitiesMember2023-01-012023-03-310001163302x:TotalReportableSegmentsMember2023-01-012023-03-310001163302us-gaap:IntersegmentEliminationMemberx:TotalReportableSegmentsMember2023-01-012023-03-310001163302srt:ReportableLegalEntitiesMemberx:TotalReportableSegmentsMember2023-01-012023-03-310001163302us-gaap:AllOtherSegmentsMember2023-01-012023-03-310001163302us-gaap:IntersegmentEliminationMemberus-gaap:AllOtherSegmentsMember2023-01-012023-03-310001163302srt:ReportableLegalEntitiesMemberus-gaap:AllOtherSegmentsMember2023-01-012023-03-310001163302us-gaap:IntersegmentEliminationMember2023-01-012023-03-310001163302us-gaap:MaterialReconcilingItemsMember2023-01-012023-03-310001163302srt:ReportableLegalEntitiesMember2023-01-012023-03-310001163302x:FlatRolledProductsMember2022-01-012022-03-310001163302us-gaap:IntersegmentEliminationMemberx:FlatRolledProductsMember2022-01-012022-03-310001163302srt:ReportableLegalEntitiesMemberx:FlatRolledProductsMember2022-01-012022-03-310001163302x:MiniMillMember2022-01-012022-03-310001163302us-gaap:IntersegmentEliminationMemberx:MiniMillMember2022-01-012022-03-310001163302x:MiniMillMembersrt:ReportableLegalEntitiesMember2022-01-012022-03-310001163302x:UsSteelEuropeMember2022-01-012022-03-310001163302us-gaap:IntersegmentEliminationMemberx:UsSteelEuropeMember2022-01-012022-03-310001163302srt:ReportableLegalEntitiesMemberx:UsSteelEuropeMember2022-01-012022-03-310001163302x:TubularProductsMember2022-01-012022-03-310001163302us-gaap:IntersegmentEliminationMemberx:TubularProductsMember2022-01-012022-03-310001163302x:TubularProductsMembersrt:ReportableLegalEntitiesMember2022-01-012022-03-310001163302x:TotalReportableSegmentsMember2022-01-012022-03-310001163302us-gaap:IntersegmentEliminationMemberx:TotalReportableSegmentsMember2022-01-012022-03-310001163302srt:ReportableLegalEntitiesMemberx:TotalReportableSegmentsMember2022-01-012022-03-310001163302us-gaap:AllOtherSegmentsMember2022-01-012022-03-310001163302us-gaap:IntersegmentEliminationMemberus-gaap:AllOtherSegmentsMember2022-01-012022-03-310001163302srt:ReportableLegalEntitiesMemberus-gaap:AllOtherSegmentsMember2022-01-012022-03-310001163302us-gaap:IntersegmentEliminationMember2022-01-012022-03-310001163302us-gaap:MaterialReconcilingItemsMember2022-01-012022-03-310001163302srt:ReportableLegalEntitiesMember2022-01-012022-03-310001163302x:FlatRolledProductsMember2023-03-310001163302x:FlatRolledProductsMember2022-12-310001163302x:MiniMillMember2023-03-310001163302x:MiniMillMember2022-12-310001163302x:UsSteelEuropeMember2023-03-310001163302x:UsSteelEuropeMember2022-12-310001163302x:TubularProductsMember2023-03-310001163302x:TubularProductsMember2022-12-310001163302x:TotalReportableSegmentsMember2023-03-310001163302x:TotalReportableSegmentsMember2022-12-310001163302us-gaap:AllOtherSegmentsMember2023-03-310001163302us-gaap:AllOtherSegmentsMember2022-12-310001163302us-gaap:MaterialReconcilingItemsMember2023-03-310001163302us-gaap:MaterialReconcilingItemsMember2022-12-310001163302x:BigRiver2Member2023-03-310001163302x:BigRiver2Member2022-12-310001163302us-gaap:MaterialReconcilingItemsMemberus-gaap:RestructuringChargesMember2023-01-012023-03-310001163302us-gaap:MaterialReconcilingItemsMemberus-gaap:RestructuringChargesMember2022-01-012022-03-310001163302us-gaap:MaterialReconcilingItemsMemberx:StockBasedCompensationExpenseMember2023-01-012023-03-310001163302us-gaap:MaterialReconcilingItemsMemberx:StockBasedCompensationExpenseMember2022-01-012022-03-310001163302us-gaap:MaterialReconcilingItemsMemberus-gaap:OtherExpenseMember2023-01-012023-03-310001163302us-gaap:MaterialReconcilingItemsMemberus-gaap:OtherExpenseMember2022-01-012022-03-310001163302x:FlatRolledProductsMember2023-03-312023-03-310001163302us-gaap:AccountsPayableAndAccruedLiabilitiesMemberx:FlatRolledProductsMember2023-03-312023-03-310001163302x:EmployeeRelatedLiabilitiesCurrentMemberx:FlatRolledProductsMember2023-03-312023-03-310001163302x:SemifinishedProductsMemberx:FlatRolledProductsMember2023-01-012023-03-310001163302x:MiniMillMemberx:SemifinishedProductsMember2023-01-012023-03-310001163302x:SemifinishedProductsMemberx:UsSteelEuropeMember2023-01-012023-03-310001163302x:SemifinishedProductsMemberx:TubularProductsMember2023-01-012023-03-310001163302x:SemifinishedProductsMemberus-gaap:AllOtherSegmentsMember2023-01-012023-03-310001163302x:SemifinishedProductsMember2023-01-012023-03-310001163302x:HotrolledsheetsMemberx:FlatRolledProductsMember2023-01-012023-03-310001163302x:MiniMillMemberx:HotrolledsheetsMember2023-01-012023-03-310001163302x:HotrolledsheetsMemberx:UsSteelEuropeMember2023-01-012023-03-310001163302x:TubularProductsMemberx:HotrolledsheetsMember2023-01-012023-03-310001163302x:HotrolledsheetsMemberus-gaap:AllOtherSegmentsMember2023-01-012023-03-310001163302x:HotrolledsheetsMember2023-01-012023-03-310001163302x:ColdrolledsheetsMemberx:FlatRolledProductsMember2023-01-012023-03-310001163302x:ColdrolledsheetsMemberx:MiniMillMember2023-01-012023-03-310001163302x:ColdrolledsheetsMemberx:UsSteelEuropeMember2023-01-012023-03-310001163302x:ColdrolledsheetsMemberx:TubularProductsMember2023-01-012023-03-310001163302x:ColdrolledsheetsMemberus-gaap:AllOtherSegmentsMember2023-01-012023-03-310001163302x:ColdrolledsheetsMember2023-01-012023-03-310001163302x:CoatedsheetsMemberx:FlatRolledProductsMember2023-01-012023-03-310001163302x:CoatedsheetsMemberx:MiniMillMember2023-01-012023-03-310001163302x:CoatedsheetsMemberx:UsSteelEuropeMember2023-01-012023-03-310001163302x:CoatedsheetsMemberx:TubularProductsMember2023-01-012023-03-310001163302x:CoatedsheetsMemberus-gaap:AllOtherSegmentsMember2023-01-012023-03-310001163302x:CoatedsheetsMember2023-01-012023-03-310001163302x:TubularMemberx:FlatRolledProductsMember2023-01-012023-03-310001163302x:MiniMillMemberx:TubularMember2023-01-012023-03-310001163302x:TubularMemberx:UsSteelEuropeMember2023-01-012023-03-310001163302x:TubularProductsMemberx:TubularMember2023-01-012023-03-310001163302x:TubularMemberus-gaap:AllOtherSegmentsMember2023-01-012023-03-310001163302x:TubularMember2023-01-012023-03-310001163302x:OtherProductsMemberx:FlatRolledProductsMember2023-01-012023-03-310001163302x:OtherProductsMemberx:MiniMillMember2023-01-012023-03-310001163302x:OtherProductsMemberx:UsSteelEuropeMember2023-01-012023-03-310001163302x:OtherProductsMemberx:TubularProductsMember2023-01-012023-03-310001163302x:OtherProductsMemberus-gaap:AllOtherSegmentsMember2023-01-012023-03-310001163302x:OtherProductsMember2023-01-012023-03-310001163302x:SemifinishedProductsMemberx:FlatRolledProductsMember2022-01-012022-03-310001163302x:MiniMillMemberx:SemifinishedProductsMember2022-01-012022-03-310001163302x:SemifinishedProductsMemberx:UsSteelEuropeMember2022-01-012022-03-310001163302x:SemifinishedProductsMemberx:TubularProductsMember2022-01-012022-03-310001163302x:SemifinishedProductsMemberus-gaap:AllOtherSegmentsMember2022-01-012022-03-310001163302x:SemifinishedProductsMember2022-01-012022-03-310001163302x:HotrolledsheetsMemberx:FlatRolledProductsMember2022-01-012022-03-310001163302x:MiniMillMemberx:HotrolledsheetsMember2022-01-012022-03-310001163302x:HotrolledsheetsMemberx:UsSteelEuropeMember2022-01-012022-03-310001163302x:TubularProductsMemberx:HotrolledsheetsMember2022-01-012022-03-310001163302x:HotrolledsheetsMemberus-gaap:AllOtherSegmentsMember2022-01-012022-03-310001163302x:HotrolledsheetsMember2022-01-012022-03-310001163302x:ColdrolledsheetsMemberx:FlatRolledProductsMember2022-01-012022-03-310001163302x:ColdrolledsheetsMemberx:MiniMillMember2022-01-012022-03-310001163302x:ColdrolledsheetsMemberx:UsSteelEuropeMember2022-01-012022-03-310001163302x:ColdrolledsheetsMemberx:TubularProductsMember2022-01-012022-03-310001163302x:ColdrolledsheetsMemberus-gaap:AllOtherSegmentsMember2022-01-012022-03-310001163302x:ColdrolledsheetsMember2022-01-012022-03-310001163302x:CoatedsheetsMemberx:FlatRolledProductsMember2022-01-012022-03-310001163302x:CoatedsheetsMemberx:MiniMillMember2022-01-012022-03-310001163302x:CoatedsheetsMemberx:UsSteelEuropeMember2022-01-012022-03-310001163302x:CoatedsheetsMemberx:TubularProductsMember2022-01-012022-03-310001163302x:CoatedsheetsMemberus-gaap:AllOtherSegmentsMember2022-01-012022-03-310001163302x:CoatedsheetsMember2022-01-012022-03-310001163302x:TubularMemberx:FlatRolledProductsMember2022-01-012022-03-310001163302x:MiniMillMemberx:TubularMember2022-01-012022-03-310001163302x:TubularMemberx:UsSteelEuropeMember2022-01-012022-03-310001163302x:TubularProductsMemberx:TubularMember2022-01-012022-03-310001163302x:TubularMemberus-gaap:AllOtherSegmentsMember2022-01-012022-03-310001163302x:TubularMember2022-01-012022-03-310001163302x:OtherProductsMemberx:FlatRolledProductsMember2022-01-012022-03-310001163302x:OtherProductsMemberx:MiniMillMember2022-01-012022-03-310001163302x:OtherProductsMemberx:UsSteelEuropeMember2022-01-012022-03-310001163302x:OtherProductsMemberx:TubularProductsMember2022-01-012022-03-310001163302x:OtherProductsMemberus-gaap:AllOtherSegmentsMember2022-01-012022-03-310001163302x:OtherProductsMember2022-01-012022-03-310001163302us-gaap:CustomerRelationshipsMember2023-03-310001163302us-gaap:CustomerRelationshipsMember2022-12-310001163302srt:MinimumMemberus-gaap:PatentsMember2023-03-310001163302us-gaap:PatentsMembersrt:MaximumMember2023-03-310001163302us-gaap:PatentsMember2023-03-310001163302us-gaap:PatentsMember2022-12-310001163302x:EnergyContractDomain2023-03-310001163302x:EnergyContractDomain2022-12-310001163302us-gaap:UseRightsMember2023-03-310001163302us-gaap:UseRightsMember2022-12-310001163302us-gaap:PensionPlansDefinedBenefitMember2023-01-012023-03-310001163302us-gaap:PensionPlansDefinedBenefitMember2022-01-012022-03-310001163302us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2023-01-012023-03-310001163302us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2022-01-012022-03-310001163302us-gaap:PensionPlansDefinedBenefitMemberus-gaap:EmployeeSeveranceMember2022-01-012022-03-310001163302x:SteelworkersPensionTrustMember2023-01-012023-03-310001163302us-gaap:OtherPensionPlansDefinedBenefitMember2023-01-012023-03-310001163302x:UnfundedOtherPostretirementBenefitPlansMember2023-01-012023-03-310001163302x:OmnibusIncentiveCompensationPlan2016Member2023-03-310001163302us-gaap:RestrictedStockMember2023-01-012023-03-310001163302us-gaap:RestrictedStockMember2022-01-012022-03-310001163302x:TotalStockholdersReturnTSRPerformanceBasedRestrictedStockMember2023-01-012023-03-310001163302x:TotalStockholdersReturnTSRPerformanceBasedRestrictedStockMember2022-01-012022-03-310001163302x:ReturnOnCapitalEmployedROCEPerformanceBasedRestrictedStockMember2023-01-012023-03-310001163302x:ReturnOnCapitalEmployedROCEPerformanceBasedRestrictedStockMember2022-01-012022-03-310001163302us-gaap:EmployeeStockOptionMember2021-12-012021-12-310001163302us-gaap:EmployeeStockOptionMemberus-gaap:ShareBasedCompensationAwardTrancheOneMember2021-12-012021-12-310001163302us-gaap:ShareBasedCompensationAwardTrancheTwoMemberus-gaap:EmployeeStockOptionMember2021-12-012021-12-310001163302us-gaap:ShareBasedCompensationAwardTrancheThreeMemberus-gaap:EmployeeStockOptionMember2021-12-012021-12-310001163302x:TotalStockholdersReturnTSRPerformanceBasedRestrictedStockMemberus-gaap:ShareBasedCompensationAwardTrancheOneMember2023-01-012023-03-310001163302us-gaap:ShareBasedCompensationAwardTrancheTwoMemberx:TotalStockholdersReturnTSRPerformanceBasedRestrictedStockMember2023-01-012023-03-310001163302us-gaap:ShareBasedCompensationAwardTrancheThreeMemberx:TotalStockholdersReturnTSRPerformanceBasedRestrictedStockMember2023-01-012023-03-310001163302us-gaap:ShareBasedCompensationAwardTrancheOneMemberx:ReturnOnCapitalEmployedROCEPerformanceBasedRestrictedStockMember2023-01-012023-03-310001163302us-gaap:ShareBasedCompensationAwardTrancheTwoMemberx:ReturnOnCapitalEmployedROCEPerformanceBasedRestrictedStockMember2023-01-012023-03-310001163302us-gaap:ShareBasedCompensationAwardTrancheThreeMemberx:ReturnOnCapitalEmployedROCEPerformanceBasedRestrictedStockMember2023-01-012023-03-310001163302x:PerformanceBasedRestrictedStockUnitsMember2021-12-012021-12-310001163302x:PerformanceBasedRestrictedStockUnitsMemberus-gaap:ShareBasedCompensationAwardTrancheOneMember2023-01-012023-03-310001163302us-gaap:ShareBasedCompensationAwardTrancheTwoMemberx:PerformanceBasedRestrictedStockUnitsMember2023-01-012023-03-310001163302us-gaap:ShareBasedCompensationAwardTrancheThreeMemberx:PerformanceBasedRestrictedStockUnitsMember2023-01-012023-03-3100011633022022-03-012022-03-310001163302us-gaap:StockCompensationPlanMember2023-01-012023-03-310001163302us-gaap:StockCompensationPlanMember2022-01-012022-03-310001163302us-gaap:ForeignExchangeForwardMember2023-01-012023-03-310001163302us-gaap:DesignatedAsHedgingInstrumentMemberx:CommoditySwapMember2023-01-012023-03-310001163302us-gaap:NondesignatedMemberx:CommoditySwapMember2023-01-012023-03-310001163302x:SalesSwapMember2023-01-012023-03-310001163302srt:NaturalGasReservesMemberus-gaap:CashFlowHedgingMemberx:CommoditySwapMember2023-03-31utr:MMBTU0001163302srt:NaturalGasReservesMemberus-gaap:CashFlowHedgingMemberx:CommoditySwapMember2022-03-310001163302us-gaap:CashFlowHedgingMemberx:CommoditySwapMemberx:TinMember2023-03-31utr:T0001163302us-gaap:CashFlowHedgingMemberx:CommoditySwapMemberx:TinMember2022-03-310001163302x:ZincMemberus-gaap:CashFlowHedgingMemberx:CommoditySwapMember2023-03-310001163302x:ZincMemberus-gaap:CashFlowHedgingMemberx:CommoditySwapMember2022-03-310001163302us-gaap:CashFlowHedgingMemberus-gaap:ElectricityMemberx:CommoditySwapMember2023-03-310001163302us-gaap:CashFlowHedgingMemberus-gaap:ElectricityMemberx:CommoditySwapMember2022-03-310001163302us-gaap:CashFlowHedgingMemberx:IronOrePelletsMemberx:CommoditySwapMember2023-03-31x:metricTon0001163302us-gaap:CashFlowHedgingMemberx:IronOrePelletsMemberx:CommoditySwapMember2022-03-310001163302x:ZeroCostCollarsMemberus-gaap:CashFlowHedgingMemberx:IronOrePelletsMember2023-03-310001163302x:ZeroCostCollarsMemberus-gaap:CashFlowHedgingMemberx:IronOrePelletsMember2022-03-310001163302us-gaap:CashFlowHedgingMemberx:SalesSwapMemberx:IronOrePelletsMember2023-03-310001163302us-gaap:CashFlowHedgingMemberx:SalesSwapMemberx:IronOrePelletsMember2022-03-310001163302us-gaap:CashFlowHedgingMemberx:SalesSwapMemberx:HotrolledCoilMember2023-03-310001163302us-gaap:CashFlowHedgingMemberx:SalesSwapMemberx:HotrolledCoilMember2022-03-310001163302us-gaap:CashFlowHedgingMemberus-gaap:ForeignExchangeForwardMember2023-03-31iso4217:EUR0001163302us-gaap:CashFlowHedgingMemberus-gaap:ForeignExchangeForwardMember2022-03-310001163302us-gaap:CashFlowHedgingMemberus-gaap:AccountsReceivableMember2023-03-310001163302us-gaap:CashFlowHedgingMemberus-gaap:AccountsReceivableMember2022-12-310001163302us-gaap:CashFlowHedgingMemberus-gaap:AccountsPayableMember2023-03-310001163302us-gaap:CashFlowHedgingMemberus-gaap:AccountsPayableMember2022-12-310001163302us-gaap:OtherNoncurrentLiabilitiesMemberus-gaap:CashFlowHedgingMember2023-03-310001163302us-gaap:OtherNoncurrentLiabilitiesMemberus-gaap:CashFlowHedgingMember2022-12-310001163302us-gaap:CashFlowHedgingMemberx:InvestmentsAndLongTermReceivablesMember2023-03-310001163302us-gaap:CashFlowHedgingMemberx:InvestmentsAndLongTermReceivablesMember2022-12-310001163302x:SalesSwapMember2022-01-012022-03-310001163302x:SalesSwapMemberus-gaap:SalesMember2023-01-012023-03-310001163302x:SalesSwapMemberus-gaap:SalesMember2022-01-012022-03-310001163302x:CommoditySwapMember2023-01-012023-03-310001163302x:CommoditySwapMember2022-01-012022-03-310001163302us-gaap:CostOfSalesMemberx:CommoditySwapMember2023-01-012023-03-310001163302us-gaap:CostOfSalesMemberx:CommoditySwapMember2022-01-012022-03-310001163302us-gaap:ForeignExchangeForwardMember2022-01-012022-03-310001163302us-gaap:CostOfSalesMemberus-gaap:ForeignExchangeForwardMember2023-01-012023-03-310001163302us-gaap:CostOfSalesMemberus-gaap:ForeignExchangeForwardMember2022-01-012022-03-310001163302us-gaap:CostOfSalesMember2023-01-012023-03-310001163302us-gaap:SalesMember2023-01-012023-03-310001163302x:SalesSwapMemberus-gaap:CostOfSalesMemberus-gaap:NondesignatedMember2023-01-012023-03-310001163302x:SalesSwapMemberus-gaap:CostOfSalesMemberus-gaap:NondesignatedMember2022-01-012022-03-310001163302x:SeniorNotesDueTwentyThirtySevenMember2023-03-310001163302x:SeniorNotesDueTwentyThirtySevenMember2022-12-310001163302x:A2029SeniorSecuredNotesBigRiverSteelMember2023-03-310001163302x:A2029SeniorSecuredNotesBigRiverSteelMember2022-12-310001163302x:A2029SeniorNotesMember2023-03-310001163302x:A2029SeniorNotesMember2022-12-310001163302x:A2026SeniorConvertibleNotesMember2023-03-310001163302x:A2026SeniorConvertibleNotesMember2022-12-310001163302srt:MinimumMemberx:EnvironmentalRevenueBondsUSSteelMember2023-03-310001163302srt:MaximumMemberx:EnvironmentalRevenueBondsUSSteelMember2023-03-310001163302x:EnvironmentalRevenueBondsUSSteelMember2023-03-310001163302x:EnvironmentalRevenueBondsUSSteelMember2022-12-310001163302srt:MinimumMemberx:EnvironmentalRevenueBondsBigRiverSteelMember2023-03-310001163302x:EnvironmentalRevenueBondsBigRiverSteelMembersrt:MaximumMember2023-03-310001163302x:EnvironmentalRevenueBondsBigRiverSteelMember2023-03-310001163302x:EnvironmentalRevenueBondsBigRiverSteelMember2022-12-310001163302x:FinanceLeasesAndAllOtherObligationsUSSteelMember2023-01-012023-03-310001163302x:FinanceLeasesAndAllOtherObligationsUSSteelMember2023-03-310001163302x:FinanceLeasesAndAllOtherObligationsUSSteelMember2022-12-310001163302x:FinanceLeasesAndAllOtherObligationsBigRiverSteelMember2023-01-012023-03-310001163302x:FinanceLeasesAndAllOtherObligationsBigRiverSteelMember2023-03-310001163302x:FinanceLeasesAndAllOtherObligationsBigRiverSteelMember2022-12-310001163302x:ExportCreditAgreementMember2023-01-012023-03-310001163302x:ExportCreditAgreementMember2023-03-310001163302x:ExportCreditAgreementMember2022-12-310001163302x:CreditFacilityAgreementMember2023-01-012023-03-310001163302x:CreditFacilityAgreementMember2023-03-310001163302x:CreditFacilityAgreementMember2022-12-310001163302x:BigRiverSteelABLFacilityMember2023-01-012023-03-310001163302x:BigRiverSteelABLFacilityMember2023-03-310001163302x:BigRiverSteelABLFacilityMember2022-12-310001163302x:UsSteelKosiceRevolverMember2023-01-012023-03-310001163302x:UsSteelKosiceRevolverMember2023-03-310001163302x:UsSteelKosiceRevolverMember2022-12-310001163302x:UsSteelKosiceCreditFacilityMember2023-01-012023-03-310001163302x:UsSteelKosiceCreditFacilityMember2023-03-310001163302x:UsSteelKosiceCreditFacilityMember2022-12-310001163302x:GreenBondsMemberus-gaap:BondsMember2022-09-060001163302x:GreenBondsMemberus-gaap:BondsMember2022-09-062022-09-060001163302us-gaap:DebtInstrumentRedemptionPeriodOneMemberx:GreenBondsMemberus-gaap:BondsMember2022-09-062022-09-060001163302x:GreenBondsMemberus-gaap:BondsMemberus-gaap:DebtInstrumentRedemptionPeriodTwoMember2022-09-062022-09-060001163302x:GreenBondsMemberus-gaap:BondsMemberus-gaap:DebtInstrumentRedemptionPeriodThreeMember2022-09-062022-09-060001163302x:GreenBondsMemberus-gaap:DebtInstrumentRedemptionPeriodFourMemberus-gaap:BondsMember2022-09-062022-09-060001163302x:GreenBondsMemberus-gaap:DebtInstrumentRedemptionPeriodFiveMemberus-gaap:BondsMember2022-09-062022-09-060001163302us-gaap:ConvertibleDebtMemberx:A2026SeniorConvertibleNotesMember2019-10-310001163302us-gaap:ConvertibleDebtMemberx:A2026SeniorConvertibleNotesMemberus-gaap:CommonStockMember2019-10-012019-10-310001163302us-gaap:ConvertibleDebtMemberx:A2026SeniorConvertibleNotesMemberus-gaap:CommonStockMember2019-10-310001163302us-gaap:ConvertibleDebtMemberx:A2026SeniorConvertibleNotesMember2019-10-012019-10-310001163302x:CovenantRequirementMemberx:BigRiverSteelABLFacilityMemberus-gaap:RevolvingCreditFacilityMember2021-07-230001163302x:CovenantRequirementMemberus-gaap:RevolvingCreditFacilityMemberx:CreditFacilityAgreementMember2022-05-272022-05-270001163302x:CovenantRequirementMemberus-gaap:RevolvingCreditFacilityMemberx:CreditFacilityAgreementMember2022-05-270001163302x:CovenantRequirementMemberus-gaap:RevolvingCreditFacilityMemberx:CreditFacilityAgreementMember2023-03-310001163302us-gaap:RevolvingCreditFacilityMemberx:CreditFacilityAgreementMember2023-03-310001163302x:UsSteelKosiceRevolverMemberus-gaap:RevolvingCreditFacilityMember2021-09-290001163302x:CovenantRequirementMemberx:UsSteelKosiceRevolverMemberus-gaap:RevolvingCreditFacilityMember2021-09-290001163302x:USSK20MillionUnsecuredCreditFacilityMemberus-gaap:RevolvingCreditFacilityMember2023-03-310001163302x:USSK30MillionUnsecuredCreditFacilityMemberus-gaap:RevolvingCreditFacilityMember2023-03-310001163302x:BigRiverSteelABLFacilityMemberus-gaap:RevolvingCreditFacilityMember2021-07-230001163302x:StelcoMemberx:MinntacMineMember2020-04-300001163302x:StelcoMemberx:MinntacMineMember2020-04-302020-04-30x:installment0001163302x:SurplusVEBAAssetsMember2022-12-310001163302x:SurplusVEBAAssetsMember2023-02-010001163302srt:MinimumMemberx:SurplusVEBAAssetsMember2023-02-010001163302x:SurplusVEBAAssetsMember2023-03-310001163302us-gaap:OtherCurrentAssetsMemberx:SurplusVEBAAssetsMember2023-03-310001163302x:SurplusVEBAAssetsMemberus-gaap:OtherNoncurrentAssetsMember2023-03-310001163302x:SurplusVEBAAssetsMember2023-01-012023-03-310001163302us-gaap:DomesticCorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel1Memberx:SurplusVEBAAssetsMember2023-03-310001163302us-gaap:DomesticCorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel2Memberx:SurplusVEBAAssetsMember2023-03-310001163302us-gaap:DomesticCorporateDebtSecuritiesMemberx:SurplusVEBAAssetsMemberus-gaap:FairValueInputsLevel3Member2023-03-310001163302us-gaap:DomesticCorporateDebtSecuritiesMemberx:SurplusVEBAAssetsMemberus-gaap:FairValueMeasuredAtNetAssetValuePerShareMember2023-03-310001163302us-gaap:DomesticCorporateDebtSecuritiesMemberx:SurplusVEBAAssetsMember2023-03-310001163302us-gaap:ForeignCorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel1Memberx:SurplusVEBAAssetsMember2023-03-310001163302us-gaap:ForeignCorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel2Memberx:SurplusVEBAAssetsMember2023-03-310001163302us-gaap:ForeignCorporateDebtSecuritiesMemberx:SurplusVEBAAssetsMemberus-gaap:FairValueInputsLevel3Member2023-03-310001163302us-gaap:ForeignCorporateDebtSecuritiesMemberx:SurplusVEBAAssetsMemberus-gaap:FairValueMeasuredAtNetAssetValuePerShareMember2023-03-310001163302us-gaap:ForeignCorporateDebtSecuritiesMemberx:SurplusVEBAAssetsMember2023-03-310001163302us-gaap:FairValueInputsLevel1Memberx:SurplusVEBAAssetsMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMember2023-03-310001163302us-gaap:FairValueInputsLevel2Memberx:SurplusVEBAAssetsMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMember2023-03-310001163302x:SurplusVEBAAssetsMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMemberus-gaap:FairValueInputsLevel3Member2023-03-310001163302x:SurplusVEBAAssetsMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMemberus-gaap:FairValueMeasuredAtNetAssetValuePerShareMember2023-03-310001163302x:SurplusVEBAAssetsMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMember2023-03-310001163302us-gaap:FairValueInputsLevel1Memberx:SurplusVEBAAssetsMemberus-gaap:AssetBackedSecuritiesMember2023-03-310001163302us-gaap:FairValueInputsLevel2Memberx:SurplusVEBAAssetsMemberus-gaap:AssetBackedSecuritiesMember2023-03-310001163302x:SurplusVEBAAssetsMemberus-gaap:AssetBackedSecuritiesMemberus-gaap:FairValueInputsLevel3Member2023-03-310001163302x:SurplusVEBAAssetsMemberus-gaap:AssetBackedSecuritiesMemberus-gaap:FairValueMeasuredAtNetAssetValuePerShareMember2023-03-310001163302x:SurplusVEBAAssetsMemberus-gaap:AssetBackedSecuritiesMember2023-03-310001163302us-gaap:DefinedBenefitPlanDebtSecurityMemberus-gaap:FairValueInputsLevel1Memberx:SurplusVEBAAssetsMember2023-03-310001163302us-gaap:DefinedBenefitPlanDebtSecurityMemberus-gaap:FairValueInputsLevel2Memberx:SurplusVEBAAssetsMember2023-03-310001163302us-gaap:DefinedBenefitPlanDebtSecurityMemberx:SurplusVEBAAssetsMemberus-gaap:FairValueInputsLevel3Member2023-03-310001163302us-gaap:DefinedBenefitPlanDebtSecurityMemberx:SurplusVEBAAssetsMemberus-gaap:FairValueMeasuredAtNetAssetValuePerShareMember2023-03-310001163302us-gaap:DefinedBenefitPlanDebtSecurityMemberx:SurplusVEBAAssetsMember2023-03-310001163302x:PrivateCreditPartnershipsMemberus-gaap:FairValueInputsLevel1Memberx:SurplusVEBAAssetsMember2023-03-310001163302us-gaap:FairValueInputsLevel2Memberx:PrivateCreditPartnershipsMemberx:SurplusVEBAAssetsMember2023-03-310001163302x:PrivateCreditPartnershipsMemberx:SurplusVEBAAssetsMemberus-gaap:FairValueInputsLevel3Member2023-03-310001163302x:PrivateCreditPartnershipsMemberx:SurplusVEBAAssetsMemberus-gaap:FairValueMeasuredAtNetAssetValuePerShareMember2023-03-310001163302x:PrivateCreditPartnershipsMemberx:SurplusVEBAAssetsMember2023-03-310001163302x:OtherAlternativesMemberus-gaap:FairValueInputsLevel1Memberx:SurplusVEBAAssetsMember2023-03-310001163302x:OtherAlternativesMemberus-gaap:FairValueInputsLevel2Memberx:SurplusVEBAAssetsMember2023-03-310001163302x:OtherAlternativesMemberx:SurplusVEBAAssetsMemberus-gaap:FairValueInputsLevel3Member2023-03-310001163302x:OtherAlternativesMemberx:SurplusVEBAAssetsMemberus-gaap:FairValueMeasuredAtNetAssetValuePerShareMember2023-03-310001163302x:OtherAlternativesMemberx:SurplusVEBAAssetsMember2023-03-310001163302us-gaap:FairValueInputsLevel1Memberx:SurplusVEBAAssetsMemberx:DefinedBenefitPlanAlternativeInvestmentsMember2023-03-310001163302us-gaap:FairValueInputsLevel2Memberx:SurplusVEBAAssetsMemberx:DefinedBenefitPlanAlternativeInvestmentsMember2023-03-310001163302x:SurplusVEBAAssetsMemberus-gaap:FairValueInputsLevel3Memberx:DefinedBenefitPlanAlternativeInvestmentsMember2023-03-310001163302x:SurplusVEBAAssetsMemberus-gaap:FairValueMeasuredAtNetAssetValuePerShareMemberx:DefinedBenefitPlanAlternativeInvestmentsMember2023-03-310001163302x:SurplusVEBAAssetsMemberx:DefinedBenefitPlanAlternativeInvestmentsMember2023-03-310001163302x:CommingledFundsMemberus-gaap:FairValueInputsLevel1Memberx:SurplusVEBAAssetsMember2023-03-310001163302us-gaap:FairValueInputsLevel2Memberx:CommingledFundsMemberx:SurplusVEBAAssetsMember2023-03-310001163302x:CommingledFundsMemberx:SurplusVEBAAssetsMemberus-gaap:FairValueInputsLevel3Member2023-03-310001163302x:CommingledFundsMemberx:SurplusVEBAAssetsMemberus-gaap:FairValueMeasuredAtNetAssetValuePerShareMember2023-03-310001163302x:CommingledFundsMemberx:SurplusVEBAAssetsMember2023-03-310001163302x:OtherSecuritiesMemberus-gaap:FairValueInputsLevel1Memberx:SurplusVEBAAssetsMember2023-03-310001163302x:OtherSecuritiesMemberus-gaap:FairValueInputsLevel2Memberx:SurplusVEBAAssetsMember2023-03-310001163302x:OtherSecuritiesMemberx:SurplusVEBAAssetsMemberus-gaap:FairValueInputsLevel3Member2023-03-310001163302x:OtherSecuritiesMemberx:SurplusVEBAAssetsMemberus-gaap:FairValueMeasuredAtNetAssetValuePerShareMember2023-03-310001163302x:OtherSecuritiesMemberx:SurplusVEBAAssetsMember2023-03-310001163302us-gaap:FairValueInputsLevel1Memberx:SurplusVEBAAssetsMember2023-03-310001163302us-gaap:FairValueInputsLevel2Memberx:SurplusVEBAAssetsMember2023-03-310001163302x:SurplusVEBAAssetsMemberus-gaap:FairValueInputsLevel3Member2023-03-310001163302x:SurplusVEBAAssetsMemberus-gaap:FairValueMeasuredAtNetAssetValuePerShareMember2023-03-310001163302us-gaap:EstimateOfFairValueFairValueDisclosureMember2023-03-310001163302us-gaap:CarryingReportedAmountFairValueDisclosureMember2023-03-310001163302us-gaap:EstimateOfFairValueFairValueDisclosureMember2022-12-310001163302us-gaap:CarryingReportedAmountFairValueDisclosureMember2022-12-310001163302us-gaap:RetainedEarningsMember2022-12-310001163302us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-12-310001163302us-gaap:CommonStockMember2022-12-310001163302us-gaap:TreasuryStockCommonMember2022-12-310001163302us-gaap:AdditionalPaidInCapitalMember2022-12-310001163302us-gaap:NoncontrollingInterestMember2022-12-310001163302us-gaap:RetainedEarningsMember2023-01-012023-03-310001163302us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-01-012023-03-310001163302us-gaap:CommonStockMember2023-01-012023-03-310001163302us-gaap:TreasuryStockCommonMember2023-01-012023-03-310001163302us-gaap:AdditionalPaidInCapitalMember2023-01-012023-03-310001163302us-gaap:RetainedEarningsMember2023-03-310001163302us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-03-310001163302us-gaap:CommonStockMember2023-03-310001163302us-gaap:TreasuryStockCommonMember2023-03-310001163302us-gaap:AdditionalPaidInCapitalMember2023-03-310001163302us-gaap:NoncontrollingInterestMember2023-03-310001163302us-gaap:RetainedEarningsMember2021-12-310001163302us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-12-310001163302us-gaap:CommonStockMember2021-12-310001163302us-gaap:TreasuryStockCommonMember2021-12-310001163302us-gaap:AdditionalPaidInCapitalMember2021-12-310001163302us-gaap:NoncontrollingInterestMember2021-12-310001163302us-gaap:RetainedEarningsMember2022-01-012022-03-310001163302us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-01-012022-03-310001163302us-gaap:CommonStockMember2022-01-012022-03-310001163302us-gaap:TreasuryStockCommonMember2022-01-012022-03-310001163302us-gaap:AdditionalPaidInCapitalMember2022-01-012022-03-310001163302srt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2022-03-310001163302us-gaap:RetainedEarningsMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2022-03-310001163302srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:AdditionalPaidInCapitalMember2022-03-310001163302us-gaap:RetainedEarningsMember2022-03-310001163302us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-03-310001163302us-gaap:CommonStockMember2022-03-310001163302us-gaap:TreasuryStockCommonMember2022-03-310001163302us-gaap:AdditionalPaidInCapitalMember2022-03-310001163302us-gaap:NoncontrollingInterestMember2022-03-310001163302us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2022-12-310001163302us-gaap:AccumulatedTranslationAdjustmentMember2022-12-310001163302us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember2022-12-310001163302x:AccumulatedNetGainLossFromFromActiveEmployeeBenefitInvestmentsAttributableToParentMember2022-12-310001163302us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2023-01-012023-03-310001163302us-gaap:AccumulatedTranslationAdjustmentMember2023-01-012023-03-310001163302us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember2023-01-012023-03-310001163302x:AccumulatedNetGainLossFromFromActiveEmployeeBenefitInvestmentsAttributableToParentMember2023-01-012023-03-310001163302us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2023-03-310001163302us-gaap:AccumulatedTranslationAdjustmentMember2023-03-310001163302us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember2023-03-310001163302x:AccumulatedNetGainLossFromFromActiveEmployeeBenefitInvestmentsAttributableToParentMember2023-03-310001163302us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2021-12-310001163302us-gaap:AccumulatedTranslationAdjustmentMember2021-12-310001163302us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember2021-12-310001163302x:AccumulatedNetGainLossFromFromActiveEmployeeBenefitInvestmentsAttributableToParentMember2021-12-310001163302us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2022-01-012022-03-310001163302us-gaap:AccumulatedTranslationAdjustmentMember2022-01-012022-03-310001163302us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember2022-01-012022-03-310001163302x:AccumulatedNetGainLossFromFromActiveEmployeeBenefitInvestmentsAttributableToParentMember2022-01-012022-03-310001163302us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2022-03-310001163302us-gaap:AccumulatedTranslationAdjustmentMember2022-03-310001163302us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember2022-03-310001163302x:AccumulatedNetGainLossFromFromActiveEmployeeBenefitInvestmentsAttributableToParentMember2022-03-310001163302us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2023-01-012023-03-310001163302us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2022-01-012022-03-310001163302us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember2023-01-012023-03-310001163302us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember2022-01-012022-03-310001163302us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2023-01-012023-03-310001163302us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2022-01-012022-03-310001163302x:ProTecCoatingCompanyMember2023-03-310001163302x:ProTecCoatingCompanyMember2022-12-310001163302x:OtherRelatedPartiesMember2023-03-310001163302x:OtherRelatedPartiesMember2022-12-310001163302x:OutsideProcessingServicesMember2023-01-012023-03-310001163302x:OutsideProcessingServicesMember2022-01-012022-03-310001163302x:TaconitePelletsMember2023-01-012023-03-310001163302x:TaconitePelletsMember2022-01-012022-03-310001163302x:PlannedSaleOfFlatRolledSegmentComponentMember2023-01-012023-03-310001163302x:BusinessExitAndEmployeeSeveranceMember2023-01-012023-03-310001163302x:PlannedSaleOfFlatRolledSegmentComponentMember2022-01-012022-03-310001163302x:BusinessExitAndEmployeeSeveranceMember2022-01-012022-03-310001163302us-gaap:EmployeeSeveranceMember2022-12-310001163302us-gaap:FacilityClosingMember2022-12-310001163302x:NonCashChargesMember2022-12-310001163302us-gaap:EmployeeSeveranceMember2023-01-012023-03-310001163302us-gaap:FacilityClosingMember2023-01-012023-03-310001163302x:NonCashChargesMember2023-01-012023-03-310001163302us-gaap:EmployeeSeveranceMember2023-03-310001163302us-gaap:FacilityClosingMember2023-03-310001163302x:NonCashChargesMember2023-03-310001163302us-gaap:AccountsPayableMember2023-03-310001163302us-gaap:AccountsPayableMember2022-12-310001163302x:PayrollandBenefitsPayableMember2023-03-310001163302x:PayrollandBenefitsPayableMember2022-12-310001163302x:LiabilityPensionandOtherPostretirementandPostemploymentBenefitsNoncurrentMember2023-03-310001163302x:LiabilityPensionandOtherPostretirementandPostemploymentBenefitsNoncurrentMember2022-12-310001163302x:OtherNoncurrentLiabilitiesAndDeferredCreditsMember2023-03-310001163302x:OtherNoncurrentLiabilitiesAndDeferredCreditsMember2022-12-310001163302us-gaap:AsbestosIssueMember2023-03-31x:LegalMatter0001163302us-gaap:AsbestosIssueMember2023-01-012023-03-31x:Plaintiff0001163302us-gaap:AsbestosIssueMember2022-12-310001163302us-gaap:AsbestosIssueMember2022-01-012022-12-310001163302us-gaap:AsbestosIssueMember2019-12-31x:Claim_Group0001163302us-gaap:AsbestosIssueMember2020-01-012020-12-310001163302us-gaap:AsbestosIssueMember2020-12-310001163302us-gaap:AsbestosIssueMember2021-01-012021-12-310001163302us-gaap:AsbestosIssueMember2021-12-310001163302us-gaap:AccountsPayableMember2023-03-310001163302us-gaap:AccountsPayableMember2022-12-310001163302x:OtherNoncurrentLiabilitiesAndDeferredCreditsMember2023-03-310001163302x:OtherNoncurrentLiabilitiesAndDeferredCreditsMember2022-12-310001163302us-gaap:EnvironmentalRemediationMember2023-01-012023-03-310001163302srt:MinimumMember2023-01-012023-03-310001163302srt:MaximumMember2023-01-012023-03-310001163302x:ProjectsWithOngoingStudyAndScopeDevelopmentMember2023-03-31x:Project0001163302x:ProjectsWithOngoingStudyAndScopeDevelopmentMembersrt:MinimumMember2023-01-012023-03-310001163302x:ProjectsWithOngoingStudyAndScopeDevelopmentMembersrt:MaximumMember2023-01-012023-03-310001163302x:SignificantProjectswithDefinedScopeMember2023-03-310001163302srt:MinimumMemberx:SignificantProjectswithDefinedScopeMember2023-03-310001163302x:GaryWorksProjectWithDefinedScopeMember2023-03-310001163302x:DuluthMember2023-03-310001163302x:GenevaProjectWithDefinedScopeMember2023-03-310001163302x:OtherEnvironmentalRemediationProjectsMember2023-03-310001163302x:OtherEnvironmentalRemediationProjectsMembersrt:MinimumMember2023-03-310001163302x:OtherEnvironmentalRemediationProjectsMembersrt:MaximumMember2023-03-310001163302x:EnvironmentalRemediationProjectsLessThanOneMillionMembersrt:MaximumMember2023-03-310001163302x:EnvironmentalRemediationProjectsLessThanOneMillionMember2023-03-31x:Allowances00011633022022-04-012022-04-3000011633022022-05-012022-05-310001163302us-gaap:SuretyBondMember2023-03-3100011633022021-10-2500011633022022-01-2400011633022022-07-2400011633022022-07-25

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
(Mark One)
 QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the Quarterly Period Ended March 31, 2023
Or
 TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from                      to                     

Commission file number 1-16811
ussclogosignature2955.jpg
United States Steel Corporation
(Exact name of registrant as specified in its charter)
Delaware  25-1897152
(State or other jurisdiction of incorporation)  (IRS Employer Identification No.)
600 Grant Street,Pittsburgh,PA 15219-2800
(Address of principal executive offices) (Zip Code)
(412) 433-1121
(Registrant’s telephone number, including area code)
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading SymbolName of each exchange on which registered
United States Steel Corporation Common StockXNew York Stock Exchange
United States Steel Corporation Common StockXChicago Stock Exchange
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes x No o
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes x No o
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company”, and "emerging growth company" in Rule 12b-2 of the Exchange Act. (Check one):
Large accelerated filer
x
Accelerated filer
o
Non-accelerated filer
o
Smaller reporting company
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
o
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes No x
Common stock outstanding at April 24, 2023 – 226,455,114 shares



INDEX
Page
PART I – FINANCIAL INFORMATION
Item 1.Financial Statements:
Item 2.
Item 3.
Item 4.
PART II – OTHER INFORMATION
Item 1.
Item 1A.
Item 2
Item 3
Item 4.
Item 5.
Item 6.


CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This report contains information that may constitute “forward-looking statements” within the meaning of Section 27A 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,” “plan,” “goal,” “future,” “will,” "may" and similar expressions or by using future dates in connection with any discussion of, among other things, the construction or operation of new or existing facilities or operating capabilities, the timing, size and form of share repurchase transactions, operating or financial performance, trends, events or developments that we expect or anticipate will occur in the future, statements relating to volume changes, share of sales and earnings per share changes, anticipated cost savings, potential capital and operational cash improvements, changes in the global economic environment, including supply and demand conditions, inflation, interest rates, supply chain disruptions and changes in prices for our products, international trade duties and other aspects of international trade policy, statements regarding our future strategies, products and innovations, statements regarding our greenhouse gas emissions reduction goals, statements regarding existing or new regulations 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 this report and in “Item 1A. Risk Factors” in our Annual Report on Form 10-K for the fiscal year ended December 31, 2022 and those described from time to time in our future reports filed with the Securities and Exchange Commission.

References in this Quarterly Report on Form 10-Q to (i) "U. S. Steel," "the Company," "we," "us," and "our" refer to United States Steel Corporation and its consolidated subsidiaries unless otherwise indicated by the context and (ii) “Big River Steel” refers to Big River Steel Holdings LLC and its direct and indirect subsidiaries unless otherwise indicated by the context.





UNITED STATES STEEL CORPORATION
CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS
(Unaudited)
Three Months Ended March 31,
(Dollars in millions, except per share amounts)20232022
Net sales:
Net sales$3,912 $4,843 
Net sales to related parties (Note 19)558 391 
Total (Note 6)4,470 5,234 
Operating expenses (income):
Cost of sales (excludes items shown below)3,953 3,823 
Selling, general and administrative expenses99 117 
Depreciation, depletion and amortization221 198 
Loss (earnings) from investees13 (36)
Asset impairment charges4 6 
Restructuring and other charges (Note 20)1 17 
Net gains on sale of assets(2)(2)
Other gains, net(8)(7)
Total4,281 4,116 
Earnings before interest and income taxes189 1,118 
Interest expense27 50 
Interest income(30)(1)
Other financial costs6 2 
Net periodic benefit income(42)(61)
Net gain from investments related to active employee benefits (Note 16)(22) 
Net interest and other financial benefits(61)(10)
Earnings before income taxes250 1,128 
Income tax expense (Note 12)51 246 
Net earnings199 882 
Less: Net earnings attributable to noncontrolling interests  
Net earnings attributable to United States Steel Corporation$199 $882 
Earnings per common share (Note 13):
Earnings per share attributable to United States Steel Corporation stockholders:
'-Basic
$0.87 $3.37 
'-Diluted
$0.78 $3.02 

The accompanying notes are an integral part of these condensed consolidated financial statements.
-1-


UNITED STATES STEEL CORPORATION
CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
(Unaudited)
Three Months Ended March 31,
(Dollars in millions)20232022
Net earnings$199 $882 
Other comprehensive income (loss), net of tax:
Changes in foreign currency translation adjustments32 (28)
Changes in pension and other employee benefit accounts(10)(3)
Changes in derivative financial instruments(44)22 
Changes in fair value of active employee benefit investments3  
Total other comprehensive loss, net of tax(19)(9)
Comprehensive income including noncontrolling interest180 873 
Comprehensive income attributable to noncontrolling interest  
Comprehensive income attributable to United States Steel
Corporation
$180 $873 
The accompanying notes are an integral part of these condensed consolidated financial statements.
-2-


UNITED STATES STEEL CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEET
(Unaudited)
(Dollars in millions)March 31, 2023December 31, 2022
Assets
Current assets:
Cash and cash equivalents (Note 7)$2,837 $3,504 
Receivables, less allowance of $38 in both periods
1,649 1,485 
Receivables from related parties (Note 19)159 150 
Inventories (Note 8)2,541 2,359 
Other current assets362 368 
Total current assets7,548 7,866 
Long-term restricted cash (Note 7)32 31 
Operating lease assets134 146 
Property, plant and equipment21,806 21,222 
Less accumulated depreciation and depletion12,931 12,730 
Total property, plant and equipment, net8,875 8,492 
Investments and long-term receivables, less allowance of $3 and $4
830 840 
Intangibles, net (Note 9)467 478 
Deferred income tax benefits (Note 12)7 10 
Goodwill (Note 9)920 920 
Other noncurrent assets727 675 
Total assets$19,540 $19,458 
Liabilities
Current liabilities:
Accounts payable and other accrued liabilities$3,004 $2,873 
Accounts payable to related parties (Note 19)171 143 
Payroll and benefits payable388 493 
Accrued taxes267 271 
Accrued interest46 67 
Current operating lease liabilities48 49 
Short-term debt and current maturities of long-term debt (Note 15)91 63 
Total current liabilities4,015 3,959 
Noncurrent operating lease liabilities95 105 
Long-term debt, less unamortized discount and debt issuance costs (Note 15)3,901 3,914 
Employee benefits146 209 
Deferred income tax liabilities (Note 12)479 456 
Deferred credits and other noncurrent liabilities509 504 
Total liabilities9,145 9,147 
Contingencies and commitments (Note 21)
Stockholders’ Equity (Note 17):
Common stock (284,758,061 and 282,487,412 shares issued) (Note 13)
285 283 
Treasury stock, at cost (57,645,467 shares and 54,089,559 shares)
(1,301)(1,204)
Additional paid-in capital5,205 5,194 
Retained earnings6,217 6,030 
Accumulated other comprehensive loss (Note 18)(104)(85)
Total United States Steel Corporation stockholders’ equity10,302 10,218 
Noncontrolling interests93 93 
Total liabilities and stockholders’ equity$19,540 $19,458 
The accompanying notes are an integral part of these condensed consolidated financial statements.
-3-


UNITED STATES STEEL CORPORATION
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
(Unaudited)
Three Months Ended March 31,
(Dollars in millions)20232022
Increase (decrease) in cash, cash equivalents and restricted cash
Operating activities:
Net earnings$199 $882 
Adjustments to reconcile to net cash provided by operating activities:
Depreciation, depletion and amortization221 198 
Asset impairment charges4 6 
Restructuring and other charges (Note 20)1 17 
Pensions and other postretirement benefits(41)(60)
Active employee benefit investments(3) 
Deferred income taxes (Note 12)38 121 
Net gain on sale of assets(2)(2)
Equity investee loss (earnings), net of distributions received13 (36)
Changes in:
Current receivables(178)(355)
Inventories(167)(467)
Current accounts payable and accrued expenses298 360 
Income taxes receivable/payable10 140 
All other, net(212)(33)
Net cash provided by operating activities181 771 
Investing activities:
Capital expenditures(740)(349)
Proceeds from sale of assets2 4 
Other investing activities (7)
Net cash used in investing activities(738)(352)
Financing activities:
Issuance of long-term debt, net of financing costs (Note 15) 4 
Repayment of long-term debt (Note 15)(10)(6)
Common stock repurchased (Note 22)(75)(123)
Proceeds from government incentives (Note 21) 82 
Other financing activities(32)(28)
Net cash used in financing activities(117)(71)
Effect of exchange rate changes on cash8 (7)
Net (decrease) increase in cash, cash equivalents and restricted cash(666)341 
Cash, cash equivalents and restricted cash at beginning of year (Note 7)3,539 2,600 
Cash, cash equivalents and restricted cash at end of period (Note 7)$2,873 $2,941 
Non-cash investing and financing activities:
Change in accrued capital expenditures$(226)$22 
U. S. Steel common stock issued for employee/non-employee director stock plans28 45 
Capital expenditures funded by finance lease borrowings24 7 
Export Credit Agreement (ECA) financing1  
The accompanying notes are an integral part of these condensed consolidated financial statements.
-4-



Notes to Condensed Consolidated Financial Statements (Unaudited)
1.     Basis of Presentation and Significant Accounting Policies
The year-end Consolidated Balance Sheet data was derived from audited statements but does not include all disclosures required for complete financial statements by accounting principles generally accepted in the United States of America (U.S. GAAP). The other information in these condensed financial statements is unaudited but, in the opinion of management, reflects all adjustments necessary for a fair statement of the results for the periods covered, including assessment of certain accounting matters using all available information such as consideration of forecasted financial information in context with other information reasonably available to us. However, our future assessment of our current expectations could result in material impacts to our consolidated financial statements in future reporting periods. All such adjustments are of a normal recurring nature unless disclosed otherwise. These condensed financial statements, including notes, have been prepared in accordance with the applicable rules of the Securities and Exchange Commission and do not include all of the information and disclosures required by U.S. GAAP for complete financial statements. Additional information is contained in the United States Steel Corporation Annual Report on Form 10-K for the fiscal year ended December 31, 2022, which should be read in conjunction with these condensed financial statements.
2.    New Accounting Standards
During the three months ended March 31, 2023, there were no accounting standards and interpretations issued which are expected to have a material impact on the Company's financial position, operations or cash flows.
3.    Recently Adopted Accounting Standards
In September 2022, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update 2022-04, Disclosure of Supplier Finance Program Obligations (ASU 2022-04). ASU 2022-04 requires that an entity disclose certain information about supplier finance programs used in connection with the purchase of goods and services. ASU 2022-04 is effective for all entities with fiscal years beginning after December 15, 2022, and interim periods within those fiscal years, except for the amendment on roll-forward information, which is effective for fiscal years beginning after December 15, 2023. U. S. Steel adopted this guidance effective January 1, 2023, with the exception of the amendment on roll-forward information, which will be adopted in our fiscal year beginning on January 1, 2024.
The Company has a supply chain finance (SCF) arrangement with a third-party administrator which allows participating suppliers, at their sole discretion, to make offers to sell payment obligations of the Company prior to their scheduled due dates at a discounted price to a participating financial institution. The third-party administrator entered into a separate agreement with the Export Import Bank of the United States to guarantee 90 percent of supplier obligations sold for up to $200 million. No guarantees or collateral are provided by the Company or any of its subsidiaries under the SCF program.
The Company’s goal is to capture overall supplier savings and improve working capital efficiency. The agreements facilitate the suppliers’ ability to sell payment obligations, while providing them with greater working capital flexibility. The Company has no economic interest in the sale of the suppliers’ receivables and no direct financial relationship with the financial institution concerning these services. The Company’s obligations to its suppliers, including amounts due and scheduled payment dates, are not impacted by suppliers’ decisions to sell amounts under the arrangements. The SCF program requires the Company to pay the third-party administrator the stated amount of the confirmed participating supplier invoices. The payment terms for confirmed invoices range from 75 to 90 days after the end of the month in which the invoice was issued.
The underlying costs from suppliers that elected to participate in the SCF program are generally recorded in cost of sales in the Company’s Condensed Consolidated Statement of Operations. Amounts due to suppliers who participate in the SCF program are reflected in accounts payable and accrued expenses on the Company’s Condensed Consolidated Balance Sheet and payments on the obligations by our suppliers are included in cash used in operating activities in the Condensed Consolidated Statement of Cash Flows. As of March 31, 2023, accounts payable and accrued expenses included $107 million of outstanding payment obligations which suppliers elected to sell to participating financial institutions.
In October 2021, the FASB issued Accounting Standards Update 2021-08, Accounting for Contract Assets and Contract Liabilities from Contracts with Customers (ASU 2021-08). ASU 2021-08 requires that an entity recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with Topic 606, Revenue from Contracts with Customers. ASU 2021-08 is effective for public companies with fiscal years beginning after December 15, 2022, and interim periods within those fiscal years, with early adoption of all amendments in the same period permitted. U. S. Steel adopted this guidance effective January 1, 2023 and will apply it to any future business combinations.
4.    Segment Information
U. S. Steel has four reportable segments: North American Flat-Rolled (Flat-Rolled), Mini Mill, U. S. Steel Europe (USSE); and Tubular Products (Tubular). The results of our real estate businesses are disclosed in the Other category.
-5-


The chief operating decision maker evaluates performance and determines resource allocations based on a number of factors, the primary measure being earnings (loss) before interest and income taxes. Earnings (loss) before interest and income taxes for reportable segments and the Other category does not include net interest and other financial costs (income), income taxes, stock-based compensation expense, and certain other items that management believes are not indicative of future results.

The accounting principles applied at the operating segment level in determining earnings (loss) before interest and income taxes are generally the same as those applied at the consolidated financial statement level. Intersegment sales and transfers are accounted for at market-based prices and are eliminated at the corporate consolidation level. Corporate-level selling, general and administrative expenses and costs related to certain former businesses are allocated to the reportable segments and Other based on measures of activity that management believes are reasonable.

The results of segment operations for the three months ended March 31, 2023 and 2022 are:
(In millions) Three Months Ended March 31, 2023Customer
Sales
Intersegment
Sales
Net
Sales
(Loss) earnings
from
investees
(Loss) earnings before interest and income taxes(a)
Flat-Rolled$2,570 $90 $2,660 $(16)$(7)
Mini Mill553 70 623  12 
USSE838 6 844  (34)
Tubular505 1 506 3 232 
Total reportable segments4,466 167 4,633 (13)203 
Other4  4  3 
Reconciling Items and Eliminations (167)(167) (17)
Total$4,470 $ $4,470 $(13)$189 
Three Months Ended March 31, 2022
Flat-Rolled$2,954 $52 $3,006 $30 $529 
Mini Mill718 130 848  278 
USSE1,251 4 1,255  264 
Tubular309 3 312 6 77 
Total reportable segments5,232 189 5,421 36 1,148 
Other2  2  7 
Reconciling Items and Eliminations— (189)(189) (37)
Total$5,234 $— $5,234 $36 $1,118 
(a) (Loss) earnings before interest and income taxes has been updated for three months ended March 31, 2022 for Flat-Rolled and Reconciling Items and Eliminations. This is the result of a retroactive adjustment for the reclassification of stock-based compensation expense as an item not allocated to segment results. See the schedule of reconciling items to consolidated earnings before interest and income taxes below for further details.
A summary of total assets by segment is as follows:
(In millions)March 31, 2023December 31, 2022
Flat-Rolled$8,109 $7,936 
Mini Mill(a)
6,176 5,787 
USSE6,199 5,823 
Tubular1,163 1,140 
Total reportable segments$21,647 $20,686 
Other$142 $141 
Corporate, reconciling items, and eliminations(b)
(2,249)(1,369)
Total assets$19,540 $19,458 
(a)Includes assets of $1.7 billion and $1.4 billion at March 31, 2023 and December 31, 2022, respectively, related to Big River 2 (BR2) under construction in Osceola, Arkansas.
-6-


(b)The majority of corporate, reconciling items, and eliminations is comprised of cash and the elimination of intersegment amounts.
The following is a schedule of reconciling items to consolidated earnings before interest and income taxes:
Three Months Ended March 31,
(In millions)20232022
Items not allocated to segments:
Restructuring and other charges (Note 20)$(1)$(17)
Stock-based compensation expense (Note 11)(11)(16)
Other charges, net(5)(4)
Total reconciling items$(17)$(37)

5.    Disposition

The Company has previously committed to, and continues to intend to, pursue the disposition of certain assets related to a component of its flat-rolled business. As of March 31, 2023, the Company accrued a total of $120 million for severance and exit costs, of which $102 million and $18 million is recorded in accounts payable and accrued expenses and payroll and benefits payable, respectively, on the Condensed Consolidated Balance Sheet. $1 million of these charges were incurred during the first quarter 2023. No payments for these charges have been made as of March 31, 2023.
6.     Revenue

Revenue is generated primarily from contracts to produce, ship and deliver steel products, and to a lesser extent, raw materials sales such as iron ore pellets and coke by-products and real estate sales. Generally, U. S. Steel’s performance obligations are satisfied and revenue is recognized when title transfers to our customer for product shipped or services are provided. Revenues are recorded net of any sales incentives. Shipping and other transportation costs charged to customers are treated as fulfillment activities and are recorded in both revenue and cost of sales at the time control is transferred to the customer. Costs related to obtaining sales contracts are incidental and are expensed when incurred. Because customers are invoiced at the time title transfers and U. S. Steel’s right to consideration is unconditional at that time, U. S. Steel does not maintain contract asset balances. Additionally, U. S. Steel does not maintain contract liability balances, as performance obligations are satisfied prior to customer payment for product. U. S. Steel offers industry standard payment terms.

The following tables disaggregate our revenue by product for each of the reportable business segments for the three months ended March 31, 2023 and 2022, respectively:

Net Sales by Product (In millions):
Three Months Ended March 31, 2023Flat-RolledMini MillUSSETubularOtherTotal
Semi-finished$59 $ $32 $ $ $91 
Hot-rolled sheets554 332 348   1,234 
Cold-rolled sheets901 72 71   1,044 
Coated sheets853 148 340   1,341 
Tubular products  12 500  512 
All Other (a)
203 1 35 5 4 248 
Total$2,570 $553 $838 $505 $4 $4,470 
(a) Consists primarily of sales of raw materials and coke making by-products.

-7-


Three Months Ended March 31, 2022Flat-RolledMini MillUSSETubularOtherTotal
Semi-finished$49 $ $1 $ $ $50 
Hot-rolled sheets514 399 593   1,506 
Cold-rolled sheets971 92 139   1,202 
Coated sheets1,196 224 483   1,903 
Tubular products  15 306  321 
All Other (a)
224 3 20 3 2 252 
Total$2,954 $718 $1,251 $309 $2 $5,234 
(a) Consists primarily of sales of raw materials and coke making by-products.

7.     Cash, Cash Equivalents and Restricted Cash
The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within U. S. Steel's Condensed Consolidated Balance Sheets that sum to the total of the same amounts shown in the Condensed Consolidated Statement of Cash Flows:
(In millions)March 31, 2023December 31, 2022March 31, 2022
Cash and cash equivalents$2,837 $3,504 $2,866 
Restricted cash in other current assets4 4 17 
Restricted cash in other noncurrent assets32 31 58 
      Total cash, cash equivalents and restricted cash$2,873 $3,539 $2,941 

Amounts included in restricted cash represent cash balances which are legally or contractually restricted, primarily for electric arc furnace construction, environmental liabilities and other capital projects and insurance purposes.
8.    Inventories
The last-in, first-out (LIFO) method is the predominant method of inventory costing for our Flat-Rolled and Tubular segments. The first-in, first-out (FIFO) and moving average methods are the predominant inventory costing methods for our Mini Mill segment and the FIFO method is the predominant inventory costing method for our USSE segment. At March 31, 2023 and December 31, 2022, the LIFO method accounted for 41 percent and 43 percent of total inventory values, respectively.
(In millions)March 31, 2023December 31, 2022
Raw materials$1,213 $1,098 
Semi-finished products900 811 
Finished products386 398 
Supplies and sundry items42 52 
Total$2,541 $2,359 
Current acquisition costs were estimated to exceed the above inventory values by $1.6 billion and $1.2 billion at March 31, 2023 and December 31, 2022, respectively. As a result of the liquidation of LIFO inventories, cost of sales decreased and earnings before interest and income taxes increased by $9 million and $8 million for the three months ended March 31, 2023 and 2022, respectively.
-8-


9.     Intangible Assets and Goodwill
Intangible assets that are being amortized on a straight-line basis over their estimated useful lives are detailed below:
As of March 31, 2023As of December 31, 2022
(In millions)Useful
Lives
Gross
Carrying
Amount
Accumulated
Amortization
Net
Amount
Gross
Carrying
Amount
Accumulated
Amortization
Net
Amount
Customer relationships
22 Years
$413 $42 $371 $413 $37 $376 
Patents
5-15 Years
17 12 5 17 12 5 
Energy Contract
2 Years
54 38 16 54 32 22 
Total amortizable intangible assets$484 $92 $392 $484 $81 $403 
Amortization expense was $11 million and $10 million for the three months ended March 31, 2023 and 2022, respectively.
Total estimated amortization expense for the remainder of 2023 is $31 million. We expect approximately $98 million in total amortization expense from 2024 through 2028 and approximately $263 million in remaining amortization expense thereafter.
The carrying amount of acquired water rights with indefinite lives as of March 31, 2023 and December 31, 2022 totaled $75 million.
Below is a summary of goodwill by segment for the three months ended March 31, 2023:
Flat-RolledMini MillUSSETubularTotal
Balance at December 31, 2022$ $916 $4 $ $920 
Additions     
Balance at March 31, 2023$ $916 $4 $ $920 
10.    Pensions and Other Benefits
The following table reflects the components of net periodic benefit (income) cost for the three months ended March 31, 2023 and 2022:
Pension BenefitsOther Benefits
(In millions)2023202220232022
Service cost$8 $11 $1 $2 
Interest cost55 39 17 12 
Expected return on plan assets(82)(89)(15)(22)
Amortization of prior service cost (credit)5  (6)(7)
Amortization of actuarial net loss (gain)3 18 (18)(13)
Net periodic benefit income, excluding below(11)(21)(21)(28)
Multiemployer plans21 19   
Settlement, termination and curtailment losses (a)
 1   
Net periodic benefit cost (income)$10 $(1)$(21)$(28)
(a) During the three months ended March 31, 2022, pension benefits incurred special termination charges of approximately $1 million due to workforce restructuring.
Employer Contributions
During the first three months of 2023, U. S. Steel made cash payments of $20 million to the Steelworkers Pension Trust and $2 million of pension payments not funded by trusts.

During the first three months of 2023, cash payments of $9 million were made for other postretirement benefit payments not funded by trusts.

Company contributions to defined contribution plans totaled $12 million and $11 million for the three months ended March 31, 2023 and 2022, respectively.
-9-



11.    Stock-Based Compensation Plans

U. S. Steel has outstanding stock-based compensation awards that were granted by the Compensation & Organization Committee (the Committee) of the Board of Directors, or its designee, under the 2005 Stock Incentive Plan (the 2005 Plan) and the 2016 Omnibus Incentive Compensation Plan, as amended and restated (the Omnibus Plan). On April 26, 2016, the Company's stockholders approved the Omnibus Plan and, between 2016 and the present, authorized the Company to issue up to 32,700,000 shares in the aggregate of U. S. Steel common stock under the Omnibus Plan. While the awards that were previously granted under the 2005 Plan remain outstanding, all future awards will be granted under the Omnibus Plan. As of March 31, 2023, there were 6,188,771 shares available for future grants under the Omnibus Plan.

Recent grants of stock-based compensation consist of restricted stock units, total stockholder return (TSR) performance awards and return on capital employed (ROCE) performance awards. Shares of common stock under the Omnibus Plan are issued from authorized, but unissued stock. The following table is a summary of the awards made under the Omnibus Plan during the first three months of 2023 and 2022.
20232022
Grant Details
Shares(a)
Fair Value(b)
Shares(a)
Fair Value(b)
Restricted Stock Units1,274,520 $29.90 1,169,470 $24.27 
Performance Awards (c)
     TSR185,120 $37.41 225,030 $28.53 
     ROCE (d)
357,020 $29.35