2021 3rd Quarter Profit Sharing

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 $779,553,219.06 

PEP payments since 9/1/12 are $32,270,000. This is in excess of the $26,500,000 pre-existing pool which was funded by the 2012 Basic Labor Agreement by $5,770,000. $620,000 was deducted from the profit sharing generated in Q2 2021, the balance of $720,000 will be deducted from the profit-sharing generated in Q3 2021. As a result, the profit-sharing pool after the PEP deduction is $57,746,491.43.

There were 5,818,912.85 eligible hours worked resulting in a profit-sharing amount of $9.924 per hour with a maximum of 48 eligible hours per week.

$9.924 x 520 hours = $5,160.48
$9.924 x 624 hours = $6,192.58

In Solidarity, 
Pete Trinidad Sr. 
USW 6787
President