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28	28	On February 29, 2020, U. S. Steel purchased the remaining 50% ownership interest in USS-POSCO Industries, (now USS-UPI, LLC, (UPI)) for $3 million, net of cash received of $2 million. There was an assumption of accounts payable owed to U. S. Steel for prior sales of steel substrate of $135 million associated with the purchase that was reflected as a reduction in receivables from related parties on the Company's Consolidated Balance Sheet as of December 31, 2020.
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32	32	= Financial Highlights =
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34	34	== Q4'22 Performance Highlights ==
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40	40	The revenue of the company went down because of a lower average realized price per ton of its products. For example, the company has realized $1,086 net per ton of its products of flat-rolled segment for the fourth quarter of 2022, which was $1,432 net per ton for the same period a year before. The comparison is $786 to $1,490 for mini mill segment; $957 to $1,075 for U. S. Steel Europe segment for the same period. However, the company has realized average price of $3,616 for Tubular products, which was $1,968 for the earlier year. But this segment constitute only 4.11% of total shipments of the company. The company has shipped lower quantity of its products for the fourth quarter of 2022 as well. It has shipped 3,369 thousand tons of steel in total for this period, and 3,746 for the previous.
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45	45	== Annual Performance Highlights, 2021 ==
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47	47	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 rail road services. Net sales for the twelve months ended December 31, 2022 compared to the same period in 2021 were $21,065 million and $20,275 million, respectively. For the Flat-Rolled segment the increase in sales primarily resulted from higher average realized prices ($89 per ton) primarily from higher value-added products, partially offset by decreased shipments (645 thousand tons) across most products. For the Mini Mill segment the decrease in sales primarily resulted from lower average realized prices ($180 per ton) primarily from lower value-added products partially offset by increased shipments (57 thousand tons), including the partial period of the Company's controlling interest in Big River Steel in January of 2021. For the USSE segment the consistent sales primarily resulted from higher average realized prices ($124 per net ton) across most products, offset by decreased shipments (543 thousand tons) across most products. For the Tubular segment the increase in sales primarily resulted from higher average realized prices ($1,282 per net ton) and increased shipments (79 thousand tons). Earnings before interest and taxes of the company is reported $3,160 million in 2022, down from a profit of $4,946 in 2021. Net income of the company is reported to be $2,524 million, down from a profit of $4,174 million a year earlier. Basic Earnings per share (EPS) of the company during 2022 is $10.22, which was $15.77 a year earlier. Quarterly dividends were declared by U. S. Steel in 2022 in the amount of five cents per share. Quarterly dividends on common stock were one cent per share in the first, second and third quarters and five cents per share in the fourth quarter in 2021.
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123	123	* 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.
124	124	* 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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	121	+= Company History =
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	125	+= Recent Developments =
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