Analysis of Reportable Segments
United States Steel Corp. operates in 4 segments: North American Flat-Rolled; Mini Mill; USSE; and Tubular Products.
Segment Profit Margin
United States Steel Corp., profit margin by reportable segment
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| North American Flat-Rolled | 15.16% | 21.28% | -8.19% | 2.05% | 8.91% |
| Mini Mill | 15.79% | 34.30% | — | — | — |
| USSE | 10.43% | 22.86% | 0.46% | -2.36% | 11.12% |
| Tubular Products | 33.66% | 0.12% | -27.71% | -5.63% | -4.69% |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | North American Flat-Rolled | North American Flat-Rolled segment profit margin ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022. |
| Mini Mill | Mini Mill segment profit margin ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022 not reaching 2020 level. | |
| USSE | USSE segment profit margin ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022 not reaching 2020 level. | |
| Tubular Products | Tubular Products segment profit margin ratio improved from 2020 to 2021 and from 2021 to 2022. |
Segment Profit Margin: North American Flat-Rolled
United States Steel Corp.; North American Flat-Rolled; segment profit margin calculation
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Earnings (loss) before interest and income taxes | 1,951) | 2,630) | (596) | 196) | 883) |
| Net sales | 12,872) | 12,358) | 7,279) | 9,560) | 9,912) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 15.16% | 21.28% | -8.19% | 2.05% | 8.91% |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
1 2022 Calculation
Segment profit margin = 100 × Earnings (loss) before interest and income taxes ÷ Net sales
= 100 × 1,951 ÷ 12,872 = 15.16%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | North American Flat-Rolled | North American Flat-Rolled segment profit margin ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022. |
Segment Profit Margin: Mini Mill
United States Steel Corp.; Mini Mill; segment profit margin calculation
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Earnings (loss) before interest and income taxes | 481) | 1,206) | —) | —) | —) |
| Net sales | 3,047) | 3,516) | —) | —) | —) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 15.79% | 34.30% | — | — | — |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
1 2022 Calculation
Segment profit margin = 100 × Earnings (loss) before interest and income taxes ÷ Net sales
= 100 × 481 ÷ 3,047 = 15.79%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Mini Mill | Mini Mill segment profit margin ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022 not reaching 2020 level. |
Segment Profit Margin: USSE
United States Steel Corp.; USSE; segment profit margin calculation
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Earnings (loss) before interest and income taxes | 444) | 975) | 9) | (57) | 359) |
| Net sales | 4,256) | 4,266) | 1,970) | 2,420) | 3,228) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 10.43% | 22.86% | 0.46% | -2.36% | 11.12% |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
1 2022 Calculation
Segment profit margin = 100 × Earnings (loss) before interest and income taxes ÷ Net sales
= 100 × 444 ÷ 4,256 = 10.43%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | USSE | USSE segment profit margin ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022 not reaching 2020 level. |
Segment Profit Margin: Tubular Products
United States Steel Corp.; Tubular Products; segment profit margin calculation
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Earnings (loss) before interest and income taxes | 544) | 1) | (179) | (67) | (58) |
| Net sales | 1,616) | 809) | 646) | 1,191) | 1,236) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 33.66% | 0.12% | -27.71% | -5.63% | -4.69% |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
1 2022 Calculation
Segment profit margin = 100 × Earnings (loss) before interest and income taxes ÷ Net sales
= 100 × 544 ÷ 1,616 = 33.66%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Tubular Products | Tubular Products segment profit margin ratio improved from 2020 to 2021 and from 2021 to 2022. |
Segment Return on Assets (Segment ROA)
United States Steel Corp., ROA by reportable segment
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| North American Flat-Rolled | 24.58% | 35.85% | -8.40% | 2.70% | 12.66% |
| Mini Mill | 8.31% | 25.58% | — | — | — |
| USSE | 7.62% | 15.95% | 0.16% | -1.06% | 6.40% |
| Tubular Products | 47.72% | 0.09% | -20.18% | -5.83% | -5.39% |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | North American Flat-Rolled | North American Flat-Rolled segment ROA improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022. |
| Mini Mill | Mini Mill segment ROA improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022 not reaching 2020 level. | |
| USSE | USSE segment ROA improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022 not reaching 2020 level. | |
| Tubular Products | Tubular Products segment ROA improved from 2020 to 2021 and from 2021 to 2022. |
Segment ROA: North American Flat-Rolled
United States Steel Corp.; North American Flat-Rolled; segment ROA calculation
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Earnings (loss) before interest and income taxes | 1,951) | 2,630) | (596) | 196) | 883) |
| Total assets | 7,936) | 7,337) | 7,099) | 7,267) | 6,977) |
| Segment Profitability Ratio | |||||
| Segment ROA1 | 24.58% | 35.85% | -8.40% | 2.70% | 12.66% |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
1 2022 Calculation
Segment ROA = 100 × Earnings (loss) before interest and income taxes ÷ Total assets
= 100 × 1,951 ÷ 7,936 = 24.58%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | North American Flat-Rolled | North American Flat-Rolled segment ROA improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022. |
Segment ROA: Mini Mill
United States Steel Corp.; Mini Mill; segment ROA calculation
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Earnings (loss) before interest and income taxes | 481) | 1,206) | —) | —) | —) |
| Total assets | 5,787) | 4,715) | —) | —) | —) |
| Segment Profitability Ratio | |||||
| Segment ROA1 | 8.31% | 25.58% | — | — | — |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
1 2022 Calculation
Segment ROA = 100 × Earnings (loss) before interest and income taxes ÷ Total assets
= 100 × 481 ÷ 5,787 = 8.31%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Mini Mill | Mini Mill segment ROA improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022 not reaching 2020 level. |
Segment ROA: USSE
United States Steel Corp.; USSE; segment ROA calculation
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Earnings (loss) before interest and income taxes | 444) | 975) | 9) | (57) | 359) |
| Total assets | 5,823) | 6,111) | 5,502) | 5,360) | 5,607) |
| Segment Profitability Ratio | |||||
| Segment ROA1 | 7.62% | 15.95% | 0.16% | -1.06% | 6.40% |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
1 2022 Calculation
Segment ROA = 100 × Earnings (loss) before interest and income taxes ÷ Total assets
= 100 × 444 ÷ 5,823 = 7.62%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | USSE | USSE segment ROA improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022 not reaching 2020 level. |
Segment ROA: Tubular Products
United States Steel Corp.; Tubular Products; segment ROA calculation
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Earnings (loss) before interest and income taxes | 544) | 1) | (179) | (67) | (58) |
| Total assets | 1,140) | 1,054) | 887) | 1,150) | 1,076) |
| Segment Profitability Ratio | |||||
| Segment ROA1 | 47.72% | 0.09% | -20.18% | -5.83% | -5.39% |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
1 2022 Calculation
Segment ROA = 100 × Earnings (loss) before interest and income taxes ÷ Total assets
= 100 × 544 ÷ 1,140 = 47.72%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Tubular Products | Tubular Products segment ROA improved from 2020 to 2021 and from 2021 to 2022. |
Segment Asset Turnover
United States Steel Corp., asset turnover by reportable segment
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| North American Flat-Rolled | 1.62 | 1.68 | 1.03 | 1.32 | 1.42 |
| Mini Mill | 0.53 | 0.75 | — | — | — |
| USSE | 0.73 | 0.70 | 0.36 | 0.45 | 0.58 |
| Tubular Products | 1.42 | 0.77 | 0.73 | 1.04 | 1.15 |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | North American Flat-Rolled | North American Flat-Rolled segment asset turnover ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022. |
| Mini Mill | Mini Mill segment asset turnover ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022. | |
| USSE | USSE segment asset turnover ratio improved from 2020 to 2021 and from 2021 to 2022. | |
| Tubular Products | Tubular Products segment asset turnover ratio improved from 2020 to 2021 and from 2021 to 2022. |
Segment Asset Turnover: North American Flat-Rolled
United States Steel Corp.; North American Flat-Rolled; segment asset turnover calculation
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Net sales | 12,872) | 12,358) | 7,279) | 9,560) | 9,912) |
| Total assets | 7,936) | 7,337) | 7,099) | 7,267) | 6,977) |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | 1.62 | 1.68 | 1.03 | 1.32 | 1.42 |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
1 2022 Calculation
Segment asset turnover = Net sales ÷ Total assets
= 12,872 ÷ 7,936 = 1.62
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | North American Flat-Rolled | North American Flat-Rolled segment asset turnover ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022. |
Segment Asset Turnover: Mini Mill
United States Steel Corp.; Mini Mill; segment asset turnover calculation
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Net sales | 3,047) | 3,516) | —) | —) | —) |
| Total assets | 5,787) | 4,715) | —) | —) | —) |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | 0.53 | 0.75 | — | — | — |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
1 2022 Calculation
Segment asset turnover = Net sales ÷ Total assets
= 3,047 ÷ 5,787 = 0.53
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Mini Mill | Mini Mill segment asset turnover ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022. |
Segment Asset Turnover: USSE
United States Steel Corp.; USSE; segment asset turnover calculation
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Net sales | 4,256) | 4,266) | 1,970) | 2,420) | 3,228) |
| Total assets | 5,823) | 6,111) | 5,502) | 5,360) | 5,607) |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | 0.73 | 0.70 | 0.36 | 0.45 | 0.58 |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
1 2022 Calculation
Segment asset turnover = Net sales ÷ Total assets
= 4,256 ÷ 5,823 = 0.73
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | USSE | USSE segment asset turnover ratio improved from 2020 to 2021 and from 2021 to 2022. |
Segment Asset Turnover: Tubular Products
United States Steel Corp.; Tubular Products; segment asset turnover calculation
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Net sales | 1,616) | 809) | 646) | 1,191) | 1,236) |
| Total assets | 1,140) | 1,054) | 887) | 1,150) | 1,076) |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | 1.42 | 0.77 | 0.73 | 1.04 | 1.15 |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
1 2022 Calculation
Segment asset turnover = Net sales ÷ Total assets
= 1,616 ÷ 1,140 = 1.42
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Tubular Products | Tubular Products segment asset turnover ratio improved from 2020 to 2021 and from 2021 to 2022. |
Segment Capital Expenditures to Depreciation
United States Steel Corp., capital expenditures to depreciation by reportable segment
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| North American Flat-Rolled | 1.01 | 0.86 | 0.98 | 2.07 | 2.23 |
| Mini Mill | 7.34 | 2.19 | — | — | — |
| USSE | 1.06 | 0.58 | 0.81 | 1.66 | 1.20 |
| Tubular Products | 0.35 | 1.11 | 4.08 | 3.15 | 0.96 |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | North American Flat-Rolled | North American Flat-Rolled segment capital expenditures to depreciation ratio deteriorated from 2020 to 2021 but then improved from 2021 to 2022 exceeding 2020 level. |
| Mini Mill | Mini Mill segment capital expenditures to depreciation ratio improved from 2020 to 2021 and from 2021 to 2022. | |
| USSE | USSE segment capital expenditures to depreciation ratio deteriorated from 2020 to 2021 but then improved from 2021 to 2022 exceeding 2020 level. | |
| Tubular Products | Tubular Products segment capital expenditures to depreciation ratio deteriorated from 2020 to 2021 and from 2021 to 2022. |
Segment Capital Expenditures to Depreciation: North American Flat-Rolled
United States Steel Corp.; North American Flat-Rolled; segment capital expenditures to depreciation calculation
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Capital expenditures | 503) | 422) | 484) | 943) | 820) |
| Depreciation, depletion & amortization | 499) | 491) | 496) | 456) | 367) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 1.01 | 0.86 | 0.98 | 2.07 | 2.23 |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
1 2022 Calculation
Segment capital expenditures to depreciation = Capital expenditures ÷ Depreciation, depletion & amortization
= 503 ÷ 499 = 1.01
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | North American Flat-Rolled | North American Flat-Rolled segment capital expenditures to depreciation ratio deteriorated from 2020 to 2021 but then improved from 2021 to 2022 exceeding 2020 level. |
Segment Capital Expenditures to Depreciation: Mini Mill
United States Steel Corp.; Mini Mill; segment capital expenditures to depreciation calculation
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Capital expenditures | 1,159) | 331) | —) | —) | —) |
| Depreciation, depletion & amortization | 158) | 151) | —) | —) | —) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 7.34 | 2.19 | — | — | — |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
1 2022 Calculation
Segment capital expenditures to depreciation = Capital expenditures ÷ Depreciation, depletion & amortization
= 1,159 ÷ 158 = 7.34
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Mini Mill | Mini Mill segment capital expenditures to depreciation ratio improved from 2020 to 2021 and from 2021 to 2022. |
Segment Capital Expenditures to Depreciation: USSE
United States Steel Corp.; USSE; segment capital expenditures to depreciation calculation
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Capital expenditures | 90) | 57) | 79) | 153) | 104) |
| Depreciation, depletion & amortization | 85) | 98) | 97) | 92) | 87) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 1.06 | 0.58 | 0.81 | 1.66 | 1.20 |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
1 2022 Calculation
Segment capital expenditures to depreciation = Capital expenditures ÷ Depreciation, depletion & amortization
= 90 ÷ 85 = 1.06
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | USSE | USSE segment capital expenditures to depreciation ratio deteriorated from 2020 to 2021 but then improved from 2021 to 2022 exceeding 2020 level. |
Segment Capital Expenditures to Depreciation: Tubular Products
United States Steel Corp.; Tubular Products; segment capital expenditures to depreciation calculation
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Capital expenditures | 17) | 51) | 159) | 145) | 45) |
| Depreciation, depletion & amortization | 48) | 46) | 39) | 46) | 47) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 0.35 | 1.11 | 4.08 | 3.15 | 0.96 |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
1 2022 Calculation
Segment capital expenditures to depreciation = Capital expenditures ÷ Depreciation, depletion & amortization
= 17 ÷ 48 = 0.35
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Tubular Products | Tubular Products segment capital expenditures to depreciation ratio deteriorated from 2020 to 2021 and from 2021 to 2022. |
Net sales
United States Steel Corp., net sales by reportable segment
US$ in millions
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| North American Flat-Rolled | 12,872) | 12,358) | 7,279) | 9,560) | 9,912) |
| Mini Mill | 3,047) | 3,516) | —) | —) | —) |
| USSE | 4,256) | 4,266) | 1,970) | 2,420) | 3,228) |
| Tubular Products | 1,616) | 809) | 646) | 1,191) | 1,236) |
| Reportable segments | 21,791) | 20,949) | 9,895) | 13,171) | 14,376) |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
Earnings (loss) before interest and income taxes
United States Steel Corp., earnings (loss) before interest and income taxes by reportable segment
US$ in millions
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| North American Flat-Rolled | 1,951) | 2,630) | (596) | 196) | 883) |
| Mini Mill | 481) | 1,206) | —) | —) | —) |
| USSE | 444) | 975) | 9) | (57) | 359) |
| Tubular Products | 544) | 1) | (179) | (67) | (58) |
| Reportable segments | 3,420) | 4,812) | (766) | 72) | 1,184) |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
Depreciation, depletion & amortization
United States Steel Corp., depreciation, depletion & amortization by reportable segment
US$ in millions
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| North American Flat-Rolled | 499) | 491) | 496) | 456) | 367) |
| Mini Mill | 158) | 151) | —) | —) | —) |
| USSE | 85) | 98) | 97) | 92) | 87) |
| Tubular Products | 48) | 46) | 39) | 46) | 47) |
| Reportable segments | 790) | 786) | 632) | 594) | 501) |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
Capital expenditures
United States Steel Corp., capital expenditures by reportable segment
US$ in millions
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| North American Flat-Rolled | 503) | 422) | 484) | 943) | 820) |
| Mini Mill | 1,159) | 331) | —) | —) | —) |
| USSE | 90) | 57) | 79) | 153) | 104) |
| Tubular Products | 17) | 51) | 159) | 145) | 45) |
| Reportable segments | 1,769) | 861) | 722) | 1,241) | 969) |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
Total assets
United States Steel Corp., total assets by reportable segment
US$ in millions
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| North American Flat-Rolled | 7,936) | 7,337) | 7,099) | 7,267) | 6,977) |
| Mini Mill | 5,787) | 4,715) | —) | —) | —) |
| USSE | 5,823) | 6,111) | 5,502) | 5,360) | 5,607) |
| Tubular Products | 1,140) | 1,054) | 887) | 1,150) | 1,076) |
| Reportable segments | 20,686) | 19,217) | 13,488) | 13,777) | 13,660) |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).