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United States Steel Llc


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U. S. Steel Announces Executive Changes (PR Newswire)

finance.yahoo.com

PITTSBURGH, Nov. 2 /PRNewswire-FirstCall/ -- United States Steel Corporation (NYSE: X - News) Chairman and Chief Executive Officer John P. Surma today announced several executive-level leadership

http://finance.yahoo.com/news/U-S-Steel-Announces-Executive-prnews-1993567977.html?x=0

United States Steel Corp. loss tops $300 million (at MarketWatch)

www.marketwatch.com | Oct 27, 2009

NEW YORK (MarketWatch) -- United States Steel Corp. on Tuesday said its third-quarter loss narrowed to $303 million, or $2.11 a share, from $392 million, or $2.92 a share in the year-ago period. The Pittsburgh steel maker said sales dropped to $2.8 billion from $7.3 billion in the year-ago quarter.

http://www.marketwatch.com/story/united-states-steel-corp-loss-tops-300-million-2009-10-27?siteid=yhoof2

 

U. S. Steel Tubular Products Honors Harold Korell With Chief Roughneck Award - Zibb.com

U. S. Steel Tubular Products, Inc., a subsidiary of United States Steel Corporation (NYSE: X), announced that Harold Korell, executive chairman of the board of directors of Southwestern Energy Company, is the recipient of its Chief Roughneck Award for 2009. The announcement was made today at the 80th annual meeting of the Independent Petroleum Association of America.

Douglas R. Matthews, president of U. S. Steel Tubular Products and vice president of tubular operations for U. S. Steel, presented Korell with the traditional Chief Roughneck bronze bust and hard hat. "Harold Korell personifies this award with his exemplary career and leadership in the energy industry," said Matthews. "Throughout his career, Harold's formula for success has had a lasting, positive impact on the companies he has worked for as well as the energy industry as a whole."

Korell joined Southwestern Energy Company in 1997 as executive vice president and chief operating officer. He served as the company's president from 1998 to 2008 and as chief executive officer from 1999 to May 2009. He was elected chairman of the board of directors in 2002 and became executive chairman of the board of directors in May 2009.

With Korell at the helm, Southwestern Energy has accumulated 575,000 acres in the Fayetteville Shale natural gas play in Arkansas and Oklahoma and has since achieved a record level of natural gas production in the Fayetteville Shale of one billion cubic feet per day.

A graduate of the Colorado School of Mines with a professional degree in chemical and petroleum refining engineering, Korell began his career with Mobil Oil Corporation and has held positions with Tenneco Oil Company, McCormick Resources and American Exploration Company.

Korell serves as the vice chairman of the American Exploration and Production Council and is a board member of the National Petroleum Council, the Independent Petroleum Association of America and the American Natural Gas Alliance. He is also a member of the Society of Petroleum Engineers. In addition, he serves on the executive advisory board for the Sam M. Walton School of Business at the University of Arkansas, where he received the Outstanding Service Award in April 2006. He also serves on the board of governors and is a member of the visiting committee for the Department of Petroleum Engineering at the Colorado School of Mines, where he received the Distinguished Achievement Medal in May 2004.

The prestigious Chief Roughneck Award was created in 1955 to honor the lifetime achievements of petroleum industry leaders. Today, U. S. Steel Tubular Products proudly continues to present this important award, which is widely recognized as one of the industry's highest honors.

U. S. Steel Tubular Products, Inc., a subsidiary of United States Steel Corporation, is the largest tubular products manufacturer in North America, with total annual production capability of 2.8 million net tons. Energy industry customers utilize U. S. Steel Tubular Products' casing, tubing, line pipe and couplings to help them locate, retrieve, transport and refine the oil and natural gas products that fuel the world.

For more information about U. S. Steel and U. S. Steel Tubular Products, visit www.ussteel.com.

For more information about the Independent Petroleum Association of America, visit www.ipaa.org.

SOURCE United States Steel Corporation

http://www.ussteel.com

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Tags: arkansas   business   career   ceo   energy   engineering   executive   exploration   manufacturer   mining   natural gas   north america   nyse   oil   oklahoma   petroleum   president   products   steel   united states  

Companies: Southwestern Energy Co. (SWN), United States Steel Corp. (X)

 

U. S. Steel Announces Executive Changes - Zibb.com

United States Steel Corporation (NYSE: X) Chairman and Chief Executive Officer John P. Surma today announced several executive-level leadership changes. Vice President-Supply Chain & Customer Service John C. Price has elected to retire effective Nov. 30, 2009, after 40 years of service with the company. Anton Lukac, who currently serves as vice president-engineering & technology, will assume Price's position, and Anthony R. Bridge, who is currently vice president-operations, will succeed Lukac.

"The extensive and varied operations experiences John had throughout his distinguished career served our company well during times of important change and ultimately enabled him to be an exceptional leader for our supply chain functions since his appointment to that position in 2008," said Surma. "As a third generation U. S. Steel employee, John exhibited a strong sense of commitment to our company throughout his 40-year career, and we wish him and his family all the best in his retirement."

Price, 62, and a native of Pittsburgh, started his career with the company in 1969 as an operations trainee at Fairless Works near Philadelphia. From 1969 to 1991, he advanced through increasingly responsible positions in tin mill operations, metallurgical engineering and quality assurance at Fairless Works, corporate headquarters, Mon Valley Works' Irvin Plant and Gary Works.

In 1991, Price was named division manager of sheet products at Mon Valley Works, and two years later transferred to headquarters as district manager-customer technical services, East. He returned to Gary Works in 1994 to serve as manager of quality assurance and manager of business services, respectively, before advancing to plant manager of finishing operations in 1996. He returned to Pittsburgh headquarters as general manager-tin products in 1997.

Following the acquisition of National Steel in May 2003, Price was named general manager of the Midwest Plant and led the successful integration of that facility. In 2005, he was named general manager-business planning. He was appointed vice president-supply chain in March 2008 and added responsibility for customer service in April 2009.

Price graduated from Lafayette College in Easton, Pa., in 1969 with a bachelor's degree in metallurgical engineering.

In his new position, Lukac, 49, will be responsible for the company's business planning, logistics services, processed products and customer service organizations. Lukac will report to Senior Vice President-North American Flat Roll Operations Michael S. Williams.

"Anton's detailed knowledge of our operations - gained during a career that includes plant management and executive oversight of research and engineering activities - make him a solid choice to fill this important role," Surma explained.

Lukac began his steelmaking career at Slovak steelmaker VSZ a.s. in 1982 as a technologist in the cold rolling mill. Over the next 16 years, he progressed through increasingly responsible positions in a variety of departments, eventually serving as vice president of technology for VSZ.

When U. S. Steel Kosice (USSK) was created in November 2000, Lukac was named vice president of strategic implementation and reported directly to USSK's president. In that position, he was responsible for USSK's pipe and radiator operations while managing 18 USSK domestic and foreign subsidiaries and supporting regional development through USSK's Economic Development Center.

In July 2003, Lukac was appointed plant manager of U. S. Steel's Clairton Plant, a coke making facility in Clairton, Pa. In December 2006, he advanced to plant manager of Mon Valley Works' Edgar Thomson Plant, a primary steelmaking facility in Braddock, Pa. He was named general manager-Mon Valley Works in January 2007 with responsibility for operations at all four Mon Valley Works facilities: the Clairton Plant; the Edgar Thomson Plant; the Irvin Plant (finishing) in West Mifflin, Pa.; and the Fairless Plant (galvanizing) near Philadelphia. Lukac was appointed to his most recent position in March 2008.

Lukac, who is a native of Martin in the Slovak Republic, graduated from Technical University in Kosice, Faculty of Mechanical Engineering in 1982.

Bridge, 55, will assume executive responsibility for research and development activities at the company's Research and Technology Center in Munhall, Pa., Automotive Center in Troy, Mich., and USSE Research in Kosice, Slovakia. He will also oversee engineering; coke battery assessment, reliability and rehabilitation; and blast furnace engineering and technology activities across the company. He will report to Executive Vice President & Chief Operating Officer John H. Goodish.

"We are confident that Tony's operations experience coupled with his previous leadership of our research and engineering disciplines will aid our efforts to remain a leader in steel process and product development," Surma noted.

Before joining U. S. Steel in 1998 as area manager of the former No. 13 blast furnace at Gary Works in Gary, Ind., Bridge spent 19 years at Inland Steel in East Chicago, Ind., and three years at Rouge Steel in Dearborn, Mich. He advanced to division manager of iron producing at Gary Works in 1999 and to plant manager of primary operations in 2001.

In 2003, Bridge transferred to Pittsburgh headquarters when he was named managing director-blast furnace engineering & technology. He was appointed vice president-engineering & technology in 2005; vice president-operations, East in March 2008; and vice president-operations in April 2009.

Bridge, from Gary, Ind., earned a bachelor's degree in industrial management from Purdue University's Krannert Business School in Lafayette, Ind., in 1976; a bachelor's degree in electrical engineering from Purdue University at its Calumet Campus in Hammond, Ind., in 1991; and a master's degree in business from Indiana Wesleyan University in Marion, Ind., in 2004.

Bridge currently serves as president of the Association for Iron and Steel Technology.

For more information about U. S. Steel, visit www.ussteel.com.

SOURCE United States Steel Corporation

http://www.ussteel.com

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Companies: United States Steel Corp. (X)

 

U. S. Steel Senior Vice President-Public Policy & Governmental Affairs Terrence D. Straub To

Zibb.com | Nov 4, 2009

United States Steel Corporation (NYSE: X) Chairman and Chief Executive Officer John P. Surma today announced that Senior Vice President-Public Policy Governmental Affairs Terrence D. Straub, 63, has elected to retire effective Nov. 30, 2009, after 28 years of service with the company....

 

United States Steel Corporation Reports 2009 Third Quarter Results - Zibb.com

    --  Net loss of $303 million, or $2.11 per share
    --  Shipments of 4.2 million tons, an increase of 41 percent from second
        quarter 2009
    --  Net sales of $2.8 billion, an increase of 32 percent from second quarter
        2009
    --  Year to date cash flow from operations of $118 million

    --  Maintained strong liquidity position with $1.5 billion of cash and $2.7
        billion of total liquidity

United States Steel Corporation (NYSE: X) reported a third quarter 2009 net loss of $303 million, or $2.11 per diluted share, compared to a net loss of $392 million, or $2.92 per diluted share, in the second quarter of 2009 and net income of $919 million, or $7.79 per diluted share, in the third quarter of 2008.


                                 Earnings Highlights
    -------------------------------------------------------------------------
    (Dollars in millions except per          3Q 2009     2Q 2009     3Q 2008
      share data)
    -------------------------------------------------------------------------
    Net sales                                 $2,817      $2,127      $7,312
    =========================================================================
    Segment (loss) income from operations
      Flat-rolled                              $(370)      $(362)       $846
      U. S. Steel Europe                           7         (53)        173
      Tubular                                    (21)        (88)        420
      Other Businesses                             5          (7)         22
    -------------------------------------------------------------------------
    Total segment (loss) income from
     operations                                $(379)      $(510)     $1,461
    Retiree benefit expenses                     (33)        (34)         (6)
    Other items not allocated to segments          -          79        (128)
    -------------------------------------------------------------------------
    (Loss) income from operations              $(412)      $(465)     $1,327
    =========================================================================
    Net interest and other financial costs        25           9          46
    -------------------------------------------------------------------------
    Income tax (benefit) provision              (130)        (82)        339
    =========================================================================
    Net (loss) income attributable to
      United States Steel Corporation          $(303)      $(392)       $919
    -------------------------------------------------------------------------
      - Per basic share                       $(2.11)     $(2.92)      $7.84
      - Per diluted share                     $(2.11)     $(2.92)      $7.79
    -------------------------------------------------------------------------

Commenting on results, U. S. Steel Chairman and CEO John P. Surma said, "Shipment volumes and operating rates for all of our reportable segments increased significantly from the very low levels of the second quarter as we brought several idled facilities online to satisfy increased customer order rates. Our European and Tubular segments had improved financial performance and our Flat-rolled segment's results were in line with the prior quarter despite the effects of continued low operating rates and facility restart costs."

The company reported a third quarter 2009 loss from operations of $412 million, compared with a loss of $465 million in the second quarter of 2009 and income from operations of $1,327 million in the third quarter of 2008.

The third quarter 2009 loss from operations did not include any other items not allocated to segments. Other items not allocated to segments in the second quarter of 2009 increased net income by $49 million, or 36 cents per diluted share. Other items not allocated to segments in the third quarter of 2008 reduced net income by $79 million, or 67 cents per diluted share.

Net interest and other financial costs in the third quarter of 2009 included a foreign currency gain that increased net income by $24 million, or 16 cents per diluted share. The net gain resulted from the remeasurement of an $828 million U.S. dollar-denominated intercompany loan to a European affiliate, partially offset by losses on euro-U.S. dollar derivatives activity. This compares to a foreign currency gain that increased net income by $41 million, or 31 cents per diluted share, in the second quarter of 2009 and a foreign currency loss that decreased net income by $39 million, or 33 cents per diluted share, in the third quarter of 2008.

The effective tax benefit rate of 22 percent for the first nine months of 2009 is lower than the statutory rate because losses in Canada and Serbia, which are jurisdictions where we have recorded a full valuation allowance on deferred tax assets, do not generate a tax benefit for accounting purposes. Third quarter 2009 results included a $23 million, or 16 cents per diluted share, catch-up benefit adjustment as a result of a slight increase in the estimated annual effective tax benefit rate.

During the third quarter of 2009, we made a voluntary contribution of $140 million to our main defined benefit pension plan in the United States. We ended the quarter with $1.5 billion of cash and total liquidity of $2.7 billion.

U. S. Steel's annual goodwill impairment test, which was completed during the third quarter, resulted in no impairment to the approximately $1.7 billion of goodwill on our balance sheet.

Reportable Segments and Other Businesses

Management believes segment income from operations is a key measure in evaluating company performance. U. S. Steel's reportable segments and Other Businesses reported a segment loss from operations of $379 million, or $91 per ton, in the third quarter of 2009, compared to a loss of $510 million, or $173 per ton, in the second quarter of 2009 and segment income from operations of $1,461 million, or $227 per ton, in the third quarter of 2008.

Income from operations for Flat-rolled was comparable to the second quarter, reflecting improved operating efficiencies, higher shipments and lower inventory write-downs, offset by lower average realized prices, higher raw material costs and approximately $65 million of facility restart costs. Raw steel capability utilization for the quarter increased to 58 percent versus 32 percent in the second quarter. Shipments improved by 50 percent to 2.7 million tons while average realized prices decreased by 11 percent to $605 per net ton. Third quarter results reflected continuing employee and other costs for idled facilities totaling approximately $165 million, compared to $285 million in the second quarter of 2009, reflecting steelmaking facility restarts at our Granite City Works, Great Lakes Works, Hamilton Works and our raw materials operations; however, given current order rates, we plan to adjust our operating configuration as discussed below in the Outlook section.

Our European segment recorded a small profit in the third quarter compared to the second quarter loss as lower raw material and energy costs and improved operating efficiencies were somewhat offset by the non-recurrence of a $34 million second quarter gain on sales of emissions allowances. Raw steel capability utilization for the quarter increased from 57 percent in the second quarter to 82 percent in the third quarter as we restarted our third blast furnace at U. S. Steel Kosice (USSK) in early September and operated both blast furnaces at U. S. Steel Serbia for most of the third quarter. Shipments increased by 24 percent to 1.3 million tons and average realized prices increased by two percent to $615 per net ton as a decrease in euro-based prices was more than offset by foreign currency translation effects.

Tubular reported a reduced operating loss in the third quarter of 2009 compared to the second quarter mainly due to higher shipments and lower inventory write-downs, partially offset by lower average realized prices. Shipments and average realized prices continued to be depressed by the inventory glut created by the surge of unfairly traded and subsidized product from China. Shipments increased by 64 percent to 151 thousand tons, which is still well below historical levels, and average realized prices decreased by three percent to $1,474 per net ton. Third quarter results reflected continuing employee and other costs for idled facilities totaling approximately $25 million, in line with the second quarter of 2009 as we operated our welded facilities at reduced levels.

Outlook

Commenting on U. S. Steel's outlook, Surma said, "We expect improvement in our overall fourth quarter results mainly as a result of increased demand for Flat-rolled products in North America, driven primarily by automotive markets and continued strength in tin mill markets. However, we expect to report an overall operating loss in the fourth quarter due primarily to continued low operating rates and idled facility carrying costs for our Flat-rolled and Tubular segments. We remain cautious in our outlook for end user demand as customer order rates in Flat-rolled and U. S. Steel Europe (USSE) have decreased from the third quarter, partly due to seasonal slowdowns, and we will continue to adjust production to meet our customers' demand. Despite these concerns and uncertainties, we believe that the U.S. and global economies are in the early stages of a gradual recovery, which has been aided by global stimulus policies and may be supported by continued improvement in credit markets and inventory restocking."

For Flat-rolled, fourth quarter results are expected to improve somewhat from the third quarter due primarily to higher average realized prices and increased shipments; however, we expect to report an operating loss for the fourth quarter primarily due to low operating rates and continued carrying costs for idled facilities. In order to adjust production to meet customer order rates, during the fourth quarter we expect to idle the #14 Blast Furnace at our Gary Works for necessary repairs, as well as one of two furnaces at Granite City Works. As a result, we currently expect fourth quarter raw steel capability utilization rates to be in line with third quarter levels. The labor agreement covering our Lake Erie Works operations has expired and we have not yet reached a successor agreement.

We expect fourth quarter results for USSE to be in line with the third quarter as higher average realized prices are offset by higher raw material costs and slightly lower shipments. Due to a planned maintenance outage for one of the three blast furnaces at USSK, we expect raw steel capability utilization rates to be lower than third quarter levels. The blast furnace operating configuration in Serbia will be adjusted as required in the fourth quarter to coincide with customer order rates.

Fourth quarter results for Tubular are expected to be comparable to the third quarter as operating levels, shipments and prices remain around prior quarter levels and we continue to incur carrying costs for idled facilities.

On October 9, 2009, U. S. Steel Canada (USSC) entered into an agreement with an unaffiliated third party providing for the sale of USSC's 44.6 percent interest in the Wabush Mines Joint Venture (Wabush) for approximately $53 million. Wabush owns and operates iron ore mining and pellet facilities in Newfoundland and Labrador and Quebec, Canada. On October 12, 2009, Cliffs Natural Resources Inc., one of the other owners of Wabush, exercised its right of first refusal and is now obligated to acquire USSC's interest in Wabush. Completion of the transaction is subject to customary closing conditions, including regulatory approvals and third party consents, and is scheduled to occur in the fourth quarter of 2009.

This release contains forward-looking statements with respect to market conditions, operating costs, shipments and prices. U. S. Steel has been, and we expect will continue to be, negatively impacted by the current global credit and economic problems. U. S. Steel cannot control or predict the extent and timing of economic recovery. As the recovery occurs, U. S. Steel is incurring and will continue to incur costs to restart idled facilities and to rebuild working capital, but we cannot accurately forecast the amount of such costs. Other more normal factors that could affect market conditions, costs, shipments and prices for both North American operations and USSE include global product demand, prices and mix; global and company steel production levels; plant operating performance; the timing and completion of facility projects; natural gas and electricity prices, usage and availability; raw materials and transportation prices and availability; international trade developments; the impact of fixed prices in energy and raw materials contracts (many of which have terms of one year or longer) as compared to short-term contract and spot prices of steel products; changes in environmental, tax, pension and other laws; the terms of collective bargaining agreements including any successor to the labor agreement covering our Lake Erie Works operations; employee strikes or other labor issues; power outages; and U.S. and global economic performance and political developments. Domestic steel shipments and prices could be affected by import levels and actions taken by the U.S. Government and its agencies, including those related to CO(2) emissions and climate change. Economic conditions and political factors in Europe and Canada that may affect USSE's and USSC's results include, but are not limited to, taxation, nationalization, inflation, currency fluctuations, government instability, political unrest, regulatory changes, export quotas, tariffs, and other protectionist measures. Consummation of the sale of our interest in Wabush is subject to regulatory approvals, third party consents and other customary closing conditions. In accordance with "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, cautionary statements identifying important factors, but not necessarily all factors, that could cause actual results to differ materially from those set forth in the forward-looking statements have been included in U. S. Steel's Annual Report on Form 10-K for the year ended December 31, 2008, and in subsequent filings for U. S. Steel.

A Consolidated Statement of Operations (Unaudited), Consolidated Cash Flow Statement (Unaudited), Condensed Consolidated Balance Sheet (Unaudited) and Preliminary Supplemental Statistics (Unaudited) for U. S. Steel are attached.

The company will conduct a conference call on third quarter earnings on Tuesday, October 27, at 2 p.m. EDT. To listen to the webcast of the conference call, visit the U. S. Steel web site, www.ussteel.com, and click on "Overview" then "Current Information" under the "Investors" section.

For more information on U. S. Steel, visit its web site at www.ussteel.com.



                        UNITED STATES STEEL CORPORATION
                CONSOLIDATED STATEMENT OF OPERATIONS (Unaudited)
                ------------------------------------------------

                                        Quarter Ended       Nine Months Ended
                                  -------------------------- ----------------
                                  Sept. 30  June 30 Sept. 30      Sept. 30
    (Dollars in millions)            2009     2009    2008      2009     2008
    -------------------------------------------------------------------------

    NET SALES                      $2,817   $2,127   $7,312   $7,694  $19,252

    OPERATING EXPENSES (INCOME):
      Cost of sales (excludes
       items shown below)           2,902    2,340    5,752    8,249   15,892
      Selling, general and
       administrative expenses        163      154      151      460      464
      Depreciation, depletion
       and amortization               167      159      149      484      464
    Loss (income) from
     investees                          1       10      (51)      32      (92)
    Net gains on disposal of
     assets                            (1)     (36)      (6)    (134)      (8)
    Other income, net                  (3)     (35)     (10)     (42)     (15)
                                   ------   ------   ------   ------   ------
    Total operating expenses        3,229    2,592    5,985    9,049   16,705
                                   ------   ------   ------   ------   ------
    (LOSS) INCOME FROM
     OPERATIONS                      (412)    (465)   1,327   (1,355)   2,547
      Net interest and other
       financial costs                 25        9       46      105       39
                                   ------   ------   ------   ------   ------
    (LOSS) INCOME BEFORE
     INCOME TAXES AND
     MINORITY INTERESTS              (437)    (474)   1,281   (1,460)   2,508
    Income tax (benefit)
     provision                       (130)     (82)     339     (322)     652
                                   ------   ------   ------   ------   ------
    Net (loss) income                (307)    (392)     942   (1,138)   1,856
      Less: Net (loss) income
       attributable to the
       noncontrolling interests        (4)       -       23       (4)      34
                                   ------   ------   ------   ------   ------
    NET (LOSS) INCOME ATTRIBUTABLE
     TO UNITED STATES STEEL
     CORPORATION                    $(303)   $(392)    $919  $(1,134)  $1,822
                                   ======   ======   ======   ======   ======


    COMMON STOCK DATA:
    -------------------------------------------------------------------------
    Net (loss) income per
     share:
      - Basic                      $(2.11)  $(2.92)   $7.84   $(8.62)  $15.51
      - Diluted                    $(2.11)  $(2.92)   $7.79   $(8.62)  $15.43

    Weighted average shares, in
     thousands
      - Basic                     143,363  134,634  117,169  131,466  117,423
      - Diluted                   143,363  134,634  117,826  131,466  118,051

    Dividends paid per common
     share                           $.05     $.05     $.30     $.40     $.80



                        UNITED STATES STEEL CORPORATION
                    CONSOLIDATED CASH FLOW STATEMENT (Unaudited)
                    --------------------------------------------

                                                            Nine Months Ended
                                                               September 30
                                                            -----------------
    (Dollars in millions)                                     2009      2008
    -------------------------------------------------------------------------
    Cash provided from operating activities:
      Net (loss) income                                    $(1,138)   $1,856
      Depreciation, depletion and amortization                 484       464
      Pensions and other postretirement benefits              (160)     (388)
      Deferred income taxes                                   (258)      262
      Net gains on disposal of assets                         (134)       (8)
      Changes in: Current receivables                          671    (1,264)
                  Inventories                                  865      (478)
                  Current accounts payable and accrued
                   expenses                                   (237)      931
                  Bank checks outstanding                      (10)       (9)
      Other operating activities                                35       (35)
                                                            ------    ------
      Total                                                    118     1,331
                                                            ------    ------
    Cash used in investing activities:
      Capital expenditures                                    (323)     (539)
      Capital expenditures - variable interest entities       (126)      (94)
      Acquisition of pickle lines                                -       (36)
      Acquisition of Stelco Inc.                                 -        (1)
      Disposal of assets                                       340        19
      Other investing activities                              (101)      (14)
                                                            ------    ------
      Total                                                   (210)     (665)
                                                            ------    ------
    Cash provided from (used in) financing activities:
      Issuance of long-term debt                               839         -
      Repayment of long-term debt                             (671)     (359)
      Revolving credit facilities - borrowings                   -       359
                                  - repayments                   -       (44)
      Common stock issued                                      667        11
      Common stock repurchased                                   -      (214)
      Dividends paid                                           (49)      (94)
      Other financing activities                               127        68
                                                            ------    ------
      Total                                                    913      (273)
                                                            ------    ------
    Effect of exchange rate changes on cash                     (2)       (1)
                                                            ------    ------
    Net increase in cash and cash equivalents                  819       392
    Cash at beginning of the year                              724       401
                                                            ------    ------
    Cash at end of the period                               $1,543      $793
                                                            ======    ======



                        UNITED STATES STEEL CORPORATION
                CONDENSED CONSOLIDATED BALANCE SHEET (Unaudited)
                ------------------------------------------------

                                                           Sept. 30   Dec. 31
    (Dollars in millions)                                     2009      2008
    -------------------------------------------------------------------------
    Cash and cash equivalents                               $1,543      $724
    Receivables, net                                         1,638     2,288
    Inventories                                              1,677     2,492
    Other current assets                                       398       228
                                                           -------   -------
      Total current assets                                   5,256     5,732
    Property, plant and equipment, net                       6,860     6,676
    Investments and long-term receivables, net                 697       695
    Goodwill and intangible assets, net                      1,983     1,891
    Other assets                                             1,053     1,093
                                                           -------   -------
      Total assets                                         $15,849   $16,087
                                                           =======   =======
    Accounts payable                                        $1,490    $1,483
    Payroll and benefits payable                               770       967
    Short-term debt and current maturities
     of long-term debt                                          19        81
    Other current liabilities                                  187       247
                                                           -------   -------
      Total current liabilities                              2,466     2,778
    Long-term debt, less unamortized discount                3,346     3,064
    Employee benefits                                        4,593     4,767
    Other long-term liabilities                                405       419
    United States Steel Corporation stockholders'
     equity                                                  4,749     4,895
    Noncontrolling interests                                   290       164
                                                           -------   -------
      Total liabilities and stockholders' equity           $15,849   $16,087
                                                           =======   =======



                        UNITED STATES STEEL CORPORATION
                 PRELIMINARY SUPPLEMENTAL STATISTICS (Unaudited)
                 -----------------------------------------------

                              Quarter Ended                 Nine Months Ended
                      --------------------------------      -----------------
    (Dollars in       Sept. 30     June 30    Sept. 30         September 30
     millions)          2009        2009       2008          2009        2008
    -------------------------------------------------------------------------

    (LOSS) INCOME FROM
     OPERATIONS
    Flat-rolled(a)     $(370)      $(362)      $846       $(1,154)     $1,411
    U. S. Steel
     Europe                7         (53)       173          (205)        632
    Tubular              (21)        (88)       420            18         648
    Other Businesses(a)    5          (7)        22            (5)         56
                       -----       -----      -----         -----       -----
    Segment (Loss)
     Income from
     Operations         (379)       (510)     1,461        (1,346)      2,747
    Retiree benefit
     expenses            (33)        (34)        (6)          (99)         (4)
    Other items not
     allocated to
     segments:
      Federal excise
       tax refund          -          34          -            34           -
      Litigation
       reserve             -          45          -            45         (45)
      Net gain on sale
       of assets           -           -          -            97           -
      Workforce
       reduction charges   -           -          -           (86)          -
      Labor agreement
       signing payments    -           -       (105)            -        (105)
      Environmental
       remediation         -           -        (23)            -         (23)
      Flat-rolled
       inventory
       transition
       effects             -           -          -             -         (23)
                       -----       -----      -----         -----       -----
        Total (Loss)
         Income from
         Operations    $(412)      $(465)    $1,327       $(1,355)     $2,547

    CAPITAL EXPENDITURES(b)

    Flat-rolled(a)       $68         $65       $155          $231        $357
    U. S. Steel
     Europe               46          18         62            74         143
    Tubular                3           3          9             9          18
    Other
     Businesses(a)         -           2         13             9          21
                       -----       -----      -----         -----       -----
      Total             $117         $88       $239          $323        $539


    (a)   Effective with the fourth quarter of 2008, the operating results of
          our iron ore operations, which were previously included in Other
          Businesses, are included in the Flat-rolled segment.  Prior periods
          have been restated to reflect this change.
    (b)   Excludes capital spending by variable interest entities, which is
          not funded by U. S. Steel.



                         UNITED STATES STEEL CORPORATION
                 PRELIMINARY SUPPLEMENTAL STATISTICS (Unaudited)
                 -----------------------------------------------

                                    Quarter Ended           Nine Months Ended
                           -------------------------------  -----------------
    (Dollars in            Sept. 30    June 30    Sept. 30      September 30
     millions)                2009       2009        2008     2009       2008
    -------------------------------------------------------------------------

    OPERATING STATISTICS
      Average realized
       price:($/net ton)(a)
        Flat-rolled            605        677         907      660        775
        U. S. Steel
         Europe                615        602       1,086      627        948
        Tubular              1,474      1,526       2,390    1,889      1,823

      Steel Shipments:(a)(b)
        Flat-rolled          2,722      1,815       4,505    6,660     14,055
        U. S. Steel
         Europe              1,285      1,035       1,409    3,217      4,743
        Tubular                151         92         519      450      1,452
                             -----      -----       -----    -----      -----
          Total Steel
           Shipments         4,158      2,942       6,433   10,327     20,250
      Intersegment
       Shipments:(b)
        Flat-rolled to
          Tubular              123         34         540      245      1,457
      Raw Steel-Production:(b)
        Flat-rolled          3,548      1,964       5,282    7,791     16,454
        U. S. Steel
         Europe              1,528      1,059       1,623    3,586      5,456
      Raw Steel-Capability
       Utilization:( c )
        Flat-rolled           57.9%      32.4%       86.2%    42.9%      90.2%
        U. S. Steel
         Europe               82.0%      57.4%       87.0%    64.8%      98.2%


    (a)   Excludes intersegment shipments.
    (b)   Thousands of net tons.
    ( c ) Based on annual raw steel production capability of 24.3 million net
          tons for Flat-rolled and 7.4 million net tons for U. S. Steel
          Europe.

SOURCE United States Steel Corporation

http://www.ussteel.com

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U. S. Steel Canada - Hamilton, Ontario, Canada

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United States Steel Corporation (U. S. Steel) is dedicated to the automotive industry and is continuously researching and developing new grades and processes.

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Gary Cooper Operator 13-Sleepy Head 1934

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United States Steel Llc Company Details

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U. S. Steel Tubular Products Honors Harold Korell With Chief Roug... www.prnewswire.com. U. S. Steel Tubular Products Honors Harold Korell With Chief Roughneck Award.

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United States Steel LLC Announces Debt Offering

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PITTSBURGH, July 3 /PRNewswire/ -- United States Steel LLC, part of the USX - U. S. Steel Group (NYSE: X), a unit of USX Corporation, announced today that it is offering $350 ...

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