United States Steel Corporation

Plant and equipment (at cost)
Details of
Selected Items
Balance Balance
Dec. 31, 1959 Additions Deductions Dec. 31,1960
Land $ 82,493,162 $ 1,146,440 $ 119,954 $ 83,519,648
Plant, mineral and manufacturing 5,071,111,975 426,028,204 75,998,696 5,421,141,483
Transportation 738,421,578 65,227,248 5,330,756 798,318,070
Less
Total . 5,892,026,715 492,401,892 81,449,406 6,302,979,201
Depreciation and depletion
Plant, mineral and manufacturing 3,005,867,456 200,546,995 74,956,617 3,131,457,834
Transportation . 374,318,461 13,616,808 3,967,212 383,968,057
Total 3,380,185,917 214,163,803t 78,923,829 3,515,425,891
Net $2,511,840,798 $278,238,089 $ 2,525,577:\: $2,787,553,310
t Wear and exhaustion of $208,424,291 shown in the Consolidated
Statement of Income comprises depreciation and depletion of
$214,163,803 (including amortization of emergency facilities of
$13,766,422), less profit of $5,739,512 resulting from sales.
Reserves
:j: Includes $8,265,089 proceeds from sales and salvage of plant and
equipment, less profit of $5,739,512 resulting therefrom.
Balance Additions Balance
Dec. 31, 1959 charged income Deductions Dec. 31,1960
Estimated bad debts $ 12,500,325 $ 342,955 $ 235,216 $ 12,608,064
Estimated losses on investments 5,578,033 3,781 39,830 5,621,644
Total deducted from assets 18,078,358 346,736 195,386 18,229,708
Insurance 50,000,000 2,780,235 2,780,235 50,000,000
Contingencies 53,273,672 1,727,500 55,001,172
Accident and hospital expenses. 9,454,226 20,014,327 20,014,327 9,454,226
Total 112,727,898 22,794,562 21,067,062 114,455,398
Total reserves $130,806,256 $23,141,298 $21,262,448 $132,685,106
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