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Debt (Tables)

12 Months Ended

Dec. 31, 2021


				December 31,
(In millions)	Issuer/Borrower	Interest Rates %	Maturity	2021		2020
2037 Senior Notes	U. S. Steel	6.650	2037	$	350	$	350
2029 Senior Secured Notes	Big River Steel	6.625	2029	720		—
2029 Senior Notes	U. S. Steel	6.875	2029	750		—
2026 Senior Notes	U. S. Steel	6.250	2026	—		650
2026 Senior Convertible Notes	U. S. Steel	5.000	2026	350		350
2025 Senior Notes	U. S. Steel	6.875	2025	—		750
2025 Senior Secured Notes	U. S. Steel	12.000	2025	—		1,056
Arkansas Teacher Retirement System Notes Payable	Big River Steel	5.500 - 7.750	2023	—		—
Export-Import Credit Agreement	U. S. Steel	Variable	2021	—		180
Environmental Revenue Bonds	U. S. Steel	4.125 - 6.750	2024 - 2050	647		717
Environmental Revenue Bonds	Big River Steel	4.500- 4.750	2049	752		—
Finance leases and all other obligations	U. S. Steel	Various	2021-2029	67		81
Finance leases and all other obligations	Big River Steel	Various	2021-2031	122		—
ECA Credit Agreement	U. S. Steel	Variable	2031	136		113
Credit Facility Agreement	U. S. Steel	Variable	2024	—		500
Big River Steel ABL Facility	Big River Steel	Variable	2026	—		—
USSK Credit Agreement	U. S. Steel Kosice	Variable	2026	—		368
USSK credit facilities	U. S. Steel Kosice	Variable	2024	—		—
Total debt				3,894		5,115
Less unamortized discount, premium and debt issuance costs				3		228
Less short-term debt, long-term debt due within one year, and short-term issuance costs				28		192
Long-term debt				$	3,863	$	4,695

Schedule of Extinguishment of Debt

The following is a summary of debt repayments made during the twelve months ended December 31, 2021:


		Twelve Months Ended December 31, 2021
Debt Instrument (in Millions)	Date	Debt Extinguished
Arkansas Teacher Retirement System Notes Payable	Fourth quarter 2021	106
Environmental Revenue Bonds (U. S. Steel)	Fourth quarter 2021	70
Finance leases and all other obligations (e)	Fourth quarter 2021	46
6.250% Senior Notes due 2026 (d)	Fourth quarter 2021	230
6.250% Senior Notes due 2026 (a)	Third quarter 2021	370
6.875% Senior Notes due 2025 (a)	Third quarter 2021	718
6.625% 2029 Senior Secured Notes (a)	Third quarter 2021	180
6.250% Senior Notes due 2026	Second quarter 2021	18
6.875% Senior Notes due 2025	Second quarter 2021	14
12.000% 2025 Senior Secured Notes (b)	First quarter 2021	1,056
6.875% Senior Notes due 2025	First quarter 2021	18
6.250% Senior Notes due 2026	First quarter 2021	32
Environmental Revenue Bonds (U. S. Steel)	First quarter 2021	89
Export-Import Credit Agreement (c)	First quarter 2021	180
Total		$	3,127

(a) During the three months ended September 30, 2021, there were redemption premiums paid of $28 million and a net gain of $5 million for the write-off of unamortized acquisition-related fair value adjustment, discounts, and debt issuance costs as a result of these debt repayments.

(b) There were redemption premiums and unamortized discount and debt issuance write-offs of approximately $181 million and $71 million, respectively related to the repayment.

(c) Export-Import Credit Agreement was terminated in the first quarter of 2021. There were approximately $3 million in non-cash debt extinguishment costs associated with the repayment.

(d) There were redemption premiums and unamortized discount and debt issuance write-offs of approximately $7 million and $2 million, respectively, related to the repayment.

(e) Includes BRS Mortgage, Fairfield Caster Lease, and BRS Stonebriar Financing; extinguishment costs associated with this debt were immaterial.

Schedule of Debt Redemption Prices


Year	Redemption Price
2024	103.438	%
2025	101.719	%
2026 and thereafter	100.000	%


Year	Redemption Price
2023	103.313	%
2024	101.656	%
2025 and thereafter	100.000	%


Year	Redemption Price
September 1, 2026 to August 31, 2027	103.000	%
September 1, 2027 to August 31, 2028	102.000	%
September 1, 2028 to August 31, 2029	101.000	%
On and after September 1, 2029	100.000	%


Year	Redemption Price
September 1, 2027 to August 31, 2028	103.000	%
September 1, 2028 to August 31, 2029	102.000	%
September 1, 2029 to August 31, 2030	101.000	%
On and after September 1, 2030	100.000	%

Aggregate Maturities of Debt

Debt Maturities – Aggregate maturities of debt are as follows (in millions):


2022		2023		2024		2025		2026		Later Years		Total
$	28	$	48	$	88	$	14	$	500	$	3,217	$	3,895

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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+ Details