United States Steel Corporation

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Summary of 1960 Financial Operations Additions to working capital Income ...... . Add - Wear and exhaustion of facilities Proceeds from sales and salvage of plant and equipment . Proceeds from sale of common stock under Stock Option Incentive Plan Miscellaneous additions Total additions Deductions from working capital Expended for plant and equipment . $492,401,892 Less - Use of funds set aside in prior years . 195,000,000 297,401,892 Added to costs applicable to future periods 14,322,103 Reduction in total long-term debt . . . . 32,805,544 Dividends declared on preferred and common stocks 187,235,868 Total deductions . . . . . Reduction in working capital . . . . . . . . . . . . . . . . . . . . Working capital per Consolidated Statement of Financial Position December 31, 1960 December 31, 1959 $608,094,605 615,538,386 Reduction .......•.•.................. 30 $304,170,990 208,424,291 8,265,089 2,932,500 528,756 524,321,626 531,765,407 $ 7,443,781 $ 7,443,781
Consolidated Statement of Income 1960 1959 Products and services sold . • • • . • • • . • . • . . . . . .. $3,698,494,931 $3,643,040,035 Costs Employment costs Wages and salaries Pensions and other employe benefits (see pages 18 and 19). Products and services bought . . Wear and exhaustion of facilities . Interest and other costs on long-term debt. State, local and miscellaneous taxes. . . . Estimated <strong>United</strong> <strong>States</strong> and foreign taxes on income Total Income . ....••..................... Dividends declared On cumulative preferred stock ($7 per share) On common stock ($3 per share) Income reinvested in business 31 1,453,317,932 246,669,660 1,355,034,915 221,168,500 1,699,987,592 1,576,203,415 1,091,166,958 208,424,291 16,942,052 107,803,048 270,000,000 3,394,323,941 304,170,990 25,219,677 162,016,191 $ 116,935,122 $ 1,278,199,885 189,854,452 17,647,717 93,571,165 233,000,000 3,388,476,634 254,563,401 25,219,677 161,816,789 67,526,935
Page 1: Annual Report 1960 @ United States
Page 4 and 5: Molten steel being poured from an e
Page 6: confidence that the productive capa
Page 9 and 10: With this modeI'll electron microsc
Page 11 and 12: Below, fall scene in Wyoming's rugg
Page 13 and 14: Analog computor, right, in new Elec
Page 16 and 17: 3 2 Lost-T ime Accidents Steel Prod
Page 18 and 19: projected insurance costs in excess
Page 20 and 21: for the 1957 Year Class, under prov
Page 22 and 23: no one of them holds of record as m
Page 24 and 25: This modern continuous quenching an
Page 26 and 27: Statistics adequate to measure accu
Page 31: Plant & Equipment Expenditures VS.
Page 35 and 36: Common stock Under the Stock Option
Page 37 and 38: Plant and equipment (at cost) Detai
Page 40 and 41: United States Steel and Carnegie Pe
Page 42 and 43: American Bridge Division, 525 Willi

United States Steel Corporation

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