The 9/1/18 United Steelworkers Basic Labor Agreement (BLA) provides for a profit-sharing pool of 7.5% of the company’s profits, defined as Earnings Before Interest and Taxes (EBIT).  The company reported an unaudited Adjusted EBIT of $479,010,476.86. 

PEP payments since 9/1/12 are $34,640,000. This is in excess of the $26,500,000 pre-existing pool which was funded by the 2012 Basic Labor Agreement by $8,140,000. $4,430,000 was deducted from the profit sharing generated in Q1 2021, $620,000 was deducted from the profit-sharing generated in Q2 2021, $720,000 was the deducted from the profit sharing generated in Q3 2021,  $180,000 was deducted from the profit sharing generated in Q4 2021, $1,520,000 was deducted from the profit-sharing generated in Q1 2022 and the balance of $670,000 will be deducted from the profit sharing in Q2 2022. As a result, the Q2 2022 profit-sharing pool after the PEP deduction is $35,255,785.76.

There were 6,169,223.58 eligible hours worked resulting in a profit-sharing amount of $5.715 per hour with a maximum of 48 eligible hours per week.

$5.715 x 520 hours = $2971.80
$5.715 x 624 hours = $3566.16

In Solidarity, 
Pete Trinidad Sr. 
USW Local 6787
President