Common Stock Issued and Repurchased

12 Months Ended

Dec. 31, 2021

Common Stock Repurchase Program [Abstract]

Common Stock Issued and Repurchased

27. Common Stock Issued and Repurchased

On October 28, 2021, U. S. Steel announced a common stock repurchase program that allowed for the repurchase of up to $300 million of its outstanding common stock from time to time in the open market or privately negotiated transactions. U. S. Steel repurchased 6,556,855 shares of common stock for approximately $150 million under this program during 2021.

In February 2021, U. S. Steel issued 48.3 million shares of common stock for net proceeds of approximately $790 million.

In June 2020, U. S. Steel issued 50 million shares of common stock for net proceeds of approximately $410 million.

In November 2018, U. S. Steel announced a common stock repurchase program that allowed for the repurchase of up to $300 million of its outstanding common stock from time to time in the open market or privately negotiated transactions through 2020 at the discretion of management. U. S. Steel repurchased 5,289,475 shares of common stock for approximately $88 million under this program during 2019. In December 2019, the Board of Directors terminated the authorization for the common stock repurchase program.