Stock Analysis on Net
Stock Analysis on Net

United States Steel Corp. (NYSE:X)

This company has been moved to the archive! The financial data has not been updated since July 28, 2023.

Common-Size Balance Sheet: Assets 

United States Steel Corp., common-size consolidated balance sheet: assets

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Cash and cash equivalents 18.01 14.16 16.46 6.45 9.11
Receivables, less allowance 7.63 11.05 7.58 8.24 13.07
Receivables from related parties 0.77 0.68 0.66 1.90 2.04
Receivables, less allowance 8.40% 11.73% 8.24% 10.14% 15.11%
Inventories 12.12 12.40 11.63 15.38 19.05
Other current assets 1.89 1.86 0.42 0.88 0.72
Current assets 40.43% 40.14% 36.75% 32.85% 43.98%
Long-term restricted cash 0.16 0.43 1.08 1.62 0.34
Equity method investments 4.16 3.70 9.45 10.96 4.42
Receivables due after one year, less allowance 0.11 0.17 0.28 1.65 0.22
Other 0.04 0.02 0.02 0.03 0.04
Investments and long-term receivables, less allowance 4.32% 3.90% 9.76% 12.63% 4.67%
Operating lease assets 0.75 1.04 1.77 1.98 0.00
Property, plant and equipment, net 43.64 40.72 45.14 46.92 44.30
Intangibles, net 2.46 2.91 1.07 1.29 1.44
Deferred income tax benefits 0.05 0.18 0.18 0.16 4.05
Goodwill 4.73 5.16 0.03 0.00 0.00
Other noncurrent assets 3.47 5.52 4.20 2.54 1.22
Noncurrent assets 59.57% 59.86% 63.25% 67.15% 56.02%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00%

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).

Cash and cash equivalents
The proportion of cash and cash equivalents relative to total assets showed a fluctuating trend, decreasing from 9.11% in 2018 to a low of 6.45% in 2019, then rising significantly to 16.46% in 2020. It slightly declined in 2021 to 14.16%, followed by an increase to 18.01% in 2022, reaching the highest level within the five-year period.
Receivables, less allowance
This category experienced a general decline from 15.11% in 2018 to 8.40% in 2022, with some variation in between. It dropped notably between 2018 and 2020, then saw an increase to 11.73% in 2021 before decreasing again to 8.40% in 2022.
Receivables from related parties
The share of receivables from related parties remained relatively stable and low, fluctuating slightly between 0.66% and 2.04% across the years without clear directional movement.
Inventories
Inventories as a percentage of total assets decreased steadily from 19.05% in 2018 to 11.63% in 2020, then increased slightly to around 12.40% in 2021 and 12.12% in 2022, stabilizing at a lower level than the 2018 figure.
Other current assets
This category showed minimal absolute values but an increase from 0.72% in 2018 to 1.89% in 2022, with a notable peak in 2021 at 1.86%.
Current assets
Current assets relative to total assets declined sharply from 43.98% in 2018 to 32.85% in 2019, then increased steadily to around 40% in 2021 and 2022, indicating recovery after the initial drop.
Long-term restricted cash
This item increased from a minimal 0.34% in 2018 to a peak of 1.62% in 2019, followed by declines each subsequent year, reaching 0.16% in 2022, implying reduced restricted cash holdings over time.
Equity method investments
Equity method investments showed a spike in 2019 at 10.96%, declining sharply to 3.70% in 2021, with a slight recovery to 4.16% in 2022.
Receivables due after one year, less allowance
This category peaked at 1.65% in 2019 but remained minimal throughout the period, decreasing to 0.11% in 2022.
Other
Other assets maintained very low proportions, near zero, with no significant trend over the years.
Investments and long-term receivables, less allowance
This category followed a similar pattern to equity method investments: a peak in 2019 (12.63%), followed by declines to around 4% in 2022.
Operating lease assets
Introduced in 2019 at 1.98%, operating lease assets showed a declining trend each year to 0.75% in 2022, potentially reflecting lease accounting changes or asset disposals.
Property, plant and equipment (net)
Representing the largest asset category, property, plant and equipment ranged between 40.72% and 46.92%, peaking in 2019. A decline occurred in 2021, followed by a partial recovery in 2022.
Intangibles (net)
The share of intangible assets remained low but increased notably in 2021 to 2.91% from a low of 1.07% in 2020, before slightly decreasing to 2.46% in 2022.
Deferred income tax benefits
These benefits dropped substantially from 4.05% in 2018 to below 0.2% in subsequent years, reaching a minimal 0.05% in 2022, indicating reduced deferred tax asset recognition.
Goodwill
Goodwill was not reported until 2020, when it appeared at 0.03%, increasing sharply to 5.16% in 2021 and slightly declining to 4.73% in 2022. This indicates acquisitions or reclassifications affecting goodwill valuation.
Other noncurrent assets
This category increased from 1.22% in 2018 to a peak of 5.52% in 2021 before declining to 3.47% in 2022, suggesting fluctuations in miscellaneous long-term assets.
Noncurrent assets
Noncurrent assets as a share of total assets rose notably from 56.02% in 2018 to 67.15% in 2019, then gradually declined to around 59.57% by 2022, indicating shifts between current and noncurrent asset compositions over time.
Total assets
The total assets are consistently normalized to 100% as the base for comparison across all categories and years.