Stock Analysis on Net
Stock Analysis on Net

United States Steel Corp. (NYSE:X)

$22.49

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

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity

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United States Steel Corp., common-size consolidated balance sheet: liabilities and stockholders’ equity

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Accounts payable and other accrued liabilities
Accounts payable to related parties
Accounts payable and other accrued liabilities
Payroll and benefits payable
Accrued taxes
Accrued interest
Current operating lease liabilities
Short-term debt and current maturities of long-term debt
Current liabilities
Noncurrent operating lease liabilities
Long-term debt, less unamortized discount and debt issuance costs, excluding current maturities
Employee benefits
Deferred income tax liabilities
Deferred credits and other noncurrent liabilities
Noncurrent liabilities
Total liabilities
Common stock issued, par value $1 per share
Treasury stock, at cost
Additional paid-in capital
Retained earnings (accumulated deficit)
Accumulated other comprehensive income (loss)
Total United States Steel Corporation stockholders’ equity
Noncontrolling interests
Stockholders’ equity
Total liabilities and stockholders’ equity

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).

The analysis of the financial data reveals several notable trends in the composition of liabilities and stockholders’ equity over the five-year period ending in 2022.

Current Liabilities
There is a general downward trend in current liabilities as a percentage of total liabilities and stockholders’ equity, decreasing from 29.11% in 2018 to 20.35% in 2022. Specifically, accounts payable and other accrued liabilities declined from over 22% to around 15%, indicating improved management or reduction in short-term obligations. Payroll and benefits payable also show a modest reduction. Accrued taxes fluctuate but peak noticeably in 2021 at 2.05% before dropping to 1.39% in 2022. Current operating lease liabilities and short-term debt remain relatively low and decreasing across the period.
Noncurrent Liabilities
Noncurrent liabilities increased notably from 32.62% in 2018 to a peak of 45.81% in 2020, followed by a sharp decrease to 26.66% in 2022. This shift is largely driven by changes in long-term debt, which rose significantly reaching 38.93% in 2020, then declined substantially in the following years to 20.12% by 2022. Employee benefits as a percentage of total liabilities and equity showed a marked decline from 8.92% in 2018 to just over 1% in 2022, suggesting a reduction in long-term employee-related obligations. Deferred income tax liabilities increased from nearly negligible levels in 2018 to 2.34% in 2022, indicating a growing deferred tax position. Deferred credits and other noncurrent liabilities fluctuated but stayed within a narrow range around 2.5%. Noncurrent operating lease liabilities diminished steadily over time.
Total Liabilities
Total liabilities exhibit a rise from 61.73% in 2018 to the highest point at 67.83% in 2020, after which there is a marked decrease, reaching 47.01% in 2022. This trend suggests deleveraging or repayment of liabilities after 2020, possibly coinciding with changes in the company's financial strategy or market conditions.
Stockholders’ Equity
Stockholders’ equity as a percentage of total liabilities and equity declined initially from 38.27% in 2018 to around 32% in 2020 but then significantly increased to nearly 53% by 2022. This change reflects a recovery and strengthening of equity base in the later years. Retained earnings show a dramatic reversal, dropping into deficit in 2020 (-5.17%) but rebounding sharply to 30.99% in 2022, indicating a strong recovery in profitability or accumulation of earnings. Treasury stock increased negatively over the period, with a notable jump to -6.19% in 2022, implying increased repurchases or reductions in equity outstanding. Additional paid-in capital decreased from 35.67% in 2018 to 26.69% in 2022, indicating changes in capital transactions or stock issuances. The accumulated other comprehensive income fluctuates near zero, suggesting limited changes in other comprehensive income components.