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8	8	= Brief Company Overview =
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10		-United States Steel Corporation (NYSE:X) was established in 1901 by Andrew Carnegie, J.P. Morgan, Charles Schwab, and Elbert H. Gary. The company has supplied steel for many famous structures in the United States such as, San Francisco-Oakland Bay Bridge, Willis Tower and Hancock Tower in Chicago, United Nations Building in New York City, Chicago Picasso, “Three Sisters” bridges in Pittsburgh and others. U. S. Steel supplies customers through out the world primarily in the automotive, construction, consumer (packaging and appliance), electrical, industrial equipment, service center/distribution, structural tubing and energy (oil country tubular goods (OCTG) and line pipe) markets. According to the world steel Association’s latest published statistics, in 2020 U. S. Steel was the third largest steel producer in the United States and the thirty eighth largest steel producer in the world.
	10	+United States Steel Corporation (NYSE:X) was established in 1901 by Andrew Carnegie, J.P. Morgan, Charles Schwab, and Elbert H. Gary. U. S. Steel produces and sells steel products, including flat-rolled and tubular products, in North America and Europe. Operations in the United States also include iron ore and coke production facilities and real estate operations. Operations in Europe also include coke production facilities. The company has supplied steel for many famous structures in the United States such as, San Francisco-Oakland Bay Bridge, Willis Tower and Hancock Tower in Chicago, United Nations Building in New York City, Chicago Picasso, “Three Sisters” bridges in Pittsburgh and others. U. S. Steel supplies customers through out the world primarily in the automotive, construction, consumer (packaging and appliance), electrical, industrial equipment, service center/distribution, structural tubing and energy (oil country tubular goods (OCTG) and line pipe) markets. According to the world steel Association’s latest published statistics, in 2020 U. S. Steel was the third largest steel producer in the United States and the thirty eighth largest steel producer in the world.
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12	12	The company has four reportable segments - North American Flat-Rolled (Flat-Rolled), Mini Mill, U. S. Steel Europe (USSE), and Tubular Products (Tubular). The company also has its Real Estate and Railroad Business. The company provides solution for industries like appliances, automotive, construction, electrical, energy, industrial, mining, and packaging. Specific products of the company include Advanced High-Strength Steel, Ultra High-Strength Steel, Coated Sheet, Cold-Rolled Coil, Dent Resistant, High-Strength Low-Alloy Steel, Hot-Rolled Coil, Mild Steels, and Tin. The company has annual raw steelmaking capability of 22.4 million net tons.
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14	14	U. S. Steel is helmed by David Boyd Burritt as President, CEO & Director. The company has approximately 24,540 employees as of December 31, 2021. Return on Equity (TTM) and Return on Assets (TTM) of the company as on February 2, 2023 is 36.89% and 15.21%, respectively.{{footnote}}https://finance.yahoo.com/quote/X/key-statistics?p=X{{/footnote}}
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	16	+= Acquisitions and Disposition =
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	18	+== Big River Steel Acquisition ==
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	20	+On January 15, 2021, U. S. Steel purchased the remaining equity interest in Big River Steel for approximately $625 million in cash net of $36 million and $62 million in cash and restricted cash received, respectively, and the assumption of liabilities of approximately $50 million. There were acquisition related costs of approximately $9 million during the twelve months ended December31, 2021. Prior to the closing of the acquisition on January 15, 2021, U. S. Steel accounted for its 49.9% equity interest in Big River Steel under the equity method as control and risk of loss were shared among the joint venture members.
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	22	+== Transtar Disposition ==
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	24	+On July 28, 2021, U. S. Steel completed the sale of 100 percent of its equity interests in its wholly-owned short-line railroad, Transtar, LLC (Transtar) to an affiliate of Fortress Transportation and Infrastructure Investors, LLC. The Company received net cash proceeds of $627 million, subject to certain customary adjustments as set forth in the Membership Interest Purchase Agreement, and recognized a pretax gain of approximately $506 million in 2021. In connection with the closing of the transaction, the Company entered into certain ancillary agreements including a railway services agreement, providing for continued rail services for its Gary and Mon Valley Works facilities, and a transition services agreement. Because Transtar does not represent a significant component of U. S. Steel's business and does not constitute a reportable business segment.
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	26	+== USS-UPI, LLC (UPI) ==
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	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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16	16	= Financial Analysis =
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	34	+== Q4'22 Performance Analysis ==
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22	22	== Annual Performance Analysis, 2021 ==
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	41	+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 railroadservices.
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