Cash Flow Statement

The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

United States Steel Corp., consolidated cash flow statement

US$ in millions

12 months ended:	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Net earnings (loss)	2,524)	4,174)	(1,165)	(630)	1,115)
Depreciation, depletion and amortization	791)	791)	643)	616)	521)
Gain on sale of Transtar	—)	(506)	—)	—)	—)
Asset impairment charges	163)	273)	263)	—)	—)
Gain on equity investee transactions	(6)	(111)	(31)	—)	(38)
Restructuring and other charges	48)	128)	138)	275)	—)
Loss on debt extinguishment	—)	292)	—)	—)	98)
Pensions and other post-employment benefits	(213)	15)	(21)	101)	77)
Deferred income taxes	501)	(52)	(130)	202)	(329)
Net gain on sale of assets	(12)	(7)	(149)	(1)	(6)
Equity investees (earnings) loss, net of distributions received	(215)	(168)	117)	(74)	(47)
Current receivables	370)	(955)	98)	453)	(312)
Inventories	(222)	(677)	506)	296)	(374)
Current accounts payable and accrued expenses	(180)	783)	(29)	(473)	282)
Income taxes receivable/payable	(15)	161)	20)	13)	(8)
All other, net	(29)	(51)	(122)	(96)	(41)
Changes in assets and liabilities	(76)	(739)	473)	193)	(453)
Adjustments to reconcile net cash provided by operating activities	981)	(84)	1,303)	1,312)	(177)
Net cash provided by operating activities	3,505)	4,090)	138)	682)	938)
Capital expenditures	(1,769)	(863)	(725)	(1,252)	(1,001)
Acquisition of Big River Steel, net of cash acquired	—)	(625)	—)	—)	—)
Investment in Big River Steel	—)	—)	(9)	(710)	—)
Proceeds from sale of Transtar	—)	627)	—)	—)	—)
Proceeds from cost reimbursement government grants	54)	—)	—)	—)	—)
Proceeds from sale of assets	32)	26)	167)	4)	10)
Proceeds from sale of ownership interests in equity investees	12)	—)	8)	—)	30)
Other investing activities	(8)	(5)	(4)	—)	(2)
Net cash used in investing activities	(1,679)	(840)	(563)	(1,958)	(963)
Issuance of short-term debt, net of financing costs	—)	—)	240)	—)	—)
Repayment of short-term debt	—)	(180)	(70)	—)	—)
Revolving credit facilities, borrowings, net of financing costs	—)	50)	1,402)	860)	228)
Revolving credit facilities, repayments	—)	(911)	(1,621)	(100)	—)
Issuance of long-term debt, net of financing costs	343)	864)	1,148)	702)	640)
Repayment of long-term debt	(382)	(3,183)	(13)	(155)	(1,299)
Net proceeds from public offering of common stock	—)	790)	410)	—)	—)
Proceeds from Stelco Option Agreement, net of financing costs	—)	—)	94)	—)	—)
Common stock repurchased	(849)	(150)	—)	(88)	(75)
Proceeds from government incentives	82)	—)	—)	—)	—)
Receipts from exercise of stock options	—)	—)	—)	—)	35)
Other financing activities	(62)	(27)	(9)	(42)	(44)
Net cash provided by (used in) financing activities	(868)	(2,747)	1,581)	1,177)	(515)
Effect of exchange rate changes on cash	(19)	(21)	23)	(2)	(17)
Net increase (decrease) in cash, cash equivalents and restricted cash	939)	482)	1,179)	(101)	(557)
Cash, cash equivalents and restricted cash at beginning of year	2,600)	2,118)	939)	1,040)	1,597)
Cash, cash equivalents and restricted cash at end of year	3,539)	2,600)	2,118)	939)	1,040)

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).

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Cash flow statement item	Description	The company
Net cash provided by operating activities	Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities.	United States Steel Corp. net cash provided by operating activities increased from 2020 to 2021 but then slightly decreased from 2021 to 2022.
Net cash used in investing activities	Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets.	United States Steel Corp. net cash used in investing activities decreased from 2020 to 2021 and from 2021 to 2022.
Net cash provided by (used in) financing activities	Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit.	United States Steel Corp. net cash provided by (used in) financing activities decreased from 2020 to 2021 but then slightly increased from 2021 to 2022.

United States Steel Corp. (NYSE:X)

Cash Flow Statement