Balance Sheet: Assets
The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.
Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.
Paying user area
Try for free
United States Steel Corp. pages available for free this week:
- Common-Size Income Statement
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Short-term (Operating) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Common Stock Valuation Ratios
- Dividend Discount Model (DDM)
- Return on Equity (ROE) since 2005
- Return on Assets (ROA) since 2005
- Current Ratio since 2005
- Aggregate Accruals
The data is hidden behind: . Unhide it.
Get full access to the entire website from $10.42/mo, or
get 1-month access to United States Steel Corp. for $22.49.
This is a one-time payment. There is no automatic renewal.
We accept:
United States Steel Corp., consolidated balance sheet: assets
US$ in millions
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 over the reported periods reveals several notable trends and shifts in asset composition and liquidity positions.
- Cash and Cash Equivalents
- The cash reserves showed a declining trend from 2018 to 2019, dropping from $1,000 million to $749 million. However, a significant recovery and growth are observed from 2020 onwards, reaching $3,504 million by the end of 2022, indicating improved liquidity management or possibly enhanced cash flows.
- Receivables
- Receivables, net of allowances, fluctuated with a slight decrease through 2019 and 2020, hitting a low of $914 million, then sharply increasing in 2021 to $1,968 million before settling down somewhat to $1,485 million in 2022. Receivables from related parties displayed a general decline but somewhat stabilized after 2020. Overall, total receivables reached their highest in 2021 but declined thereafter, which might reflect changes in credit policy or collection efficiencies.
- Inventories
- Inventory levels show an initial decline from $2,092 million in 2018 to $1,402 million in 2020, followed by substantial increases in 2021 and 2022, peaking at $2,359 million. This could suggest a buildup in stock in anticipation of increased demand or supply chain considerations.
- Other Current Assets
- These assets are generally low but increased notably from $51 million in 2020 to $368 million in 2022, indicating a diversification or increase in short-term resources beyond primary asset categories.
- Current Assets
- Current assets overall peaked in 2022 at $7,866 million, up from $3,813 million in 2019, reflecting the combined growth in cash, receivables, inventories, and other current assets, strengthening the company's short-term financial position.
- Long-term Restricted Cash
- This asset category declined from a peak of $188 million in 2019 to $31 million in 2022, indicating a possible release or utilization of restricted funds over this period.
- Equity Method Investments and Long-term Receivables
- Equity method investments peaked in 2019 at $1,272 million, then declined sharply to $660 million in 2021 before a moderate increase in 2022. Investments and long-term receivables show a similar pattern, peaking in 2019 followed by decline and some recovery, suggesting the company may have restructured or reduced its investments or that returns from these assets fluctuated.
- Operating Lease Assets
- Operating lease assets decreased steadily from $230 million in 2019 to $146 million in 2022, potentially indicating lease asset disposals or changes in leasing strategies.
- Property, Plant, and Equipment, Net
- This fixed asset base exhibited solid growth, increasing from $4,865 million in 2018 to $8,492 million in 2022, signaling significant capital investments or acquisitions expanding production or operational capacity.
- Intangibles, Net
- Intangible assets were relatively stable until 2020, when they were $129 million, with a marked rise to $519 million in 2021 and slight decrease to $478 million in 2022. The jump corresponds with recorded goodwill starting in 2020, which stabilizes at $920 million thereafter, suggesting acquisitions or revaluations contributing to intangible asset growth.
- Deferred Income Tax Benefits
- This asset decreased markedly from $445 million in 2018 to just $10 million in 2022, indicating reduced deferred tax benefits which may result from changes in profitability or tax positions.
- Other Noncurrent Assets
- Other noncurrent assets increased from $134 million in 2018 to a peak of $984 million in 2021 before receding to $675 million in 2022, reflecting changes in long-term asset composition or unclassified asset adjustments.
- Noncurrent Assets
- The total noncurrent assets rose substantially from $6,152 million in 2018 to $11,592 million in 2022, driven mostly by increases in property, plant and equipment, intangible assets including goodwill, and other long-term holdings.
- Total Assets
- Total assets experienced steady growth across the period, rising from $10,982 million in 2018 to $19,458 million in 2022, indicative of overall expansion in the asset base and possibly in operational scale or asset acquisitions.
In summary, the company shows strong asset growth, particularly in fixed and intangible assets, supplemented by improved liquidity reflected in increased cash balances and current assets. The fluctuations in receivables and inventories suggest dynamic management of working capital, while reductions in deferred tax benefits and long-term restricted cash indicate evolving tax and cash reserve strategies. The increase in goodwill and intangibles likely reflects business combinations or acquisitions during this period.