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105	105	= Risk Factors of Operation =
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	107	+* Adverse effect on customer demand and results of operation due to cyclical nature of the industry.
	108	+* Import of the products at a lower rate due to lack of tariff control and global overcapacity.
	109	+* Unsuccessful investments in new technologies and products.
	110	+* Complexity related to occasional acquisitions, and divestitures in integrating and separating the businesses.
	111	+* Operational footprint, unplanned equipment outages and other unforeseen disruptions may adversely impact the results of operations or result in idle facility costs or impairment charges.
	112	+* Increased customer demand for low-carbon products.
	113	+* Limited availability, or volatility in prices of raw materials, scrap and energy may constrain operating levels and reduce profit margins.
	114	+* Dependence of U. S. Steel on the third parties for transportation services. It may result into high costs due to unavailability of services.
	115	+* Substantial expenditures for capital investments, debt service obligations, operating leases and maintenance.
	116	+* Foreign currency risk.
	117	+* Compliance with existing and new environmental regulations, environmental permitting and approval requirements may result in delays or other adverse impacts on planned projects, and results of operations and cash flows.
	118	+* Reducing greenhouse gas (GHG) emissions from steelmaking operations to meet corporate targets or comply with new regulations as well as stakeholder expectations and mitigate potential physical impacts of climate change could significantly increase costs to manufacture future materials or reduce the amount of materials being manufactured.
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