2022 4th Quarter Profit Sharing

The 9/1/2022 United Steelworkers Basic Labor Agreement (BLA) provides for a profit-sharing pool of 6% of the Company’s profits, defined as Earnings Before Interest and Taxes (EBIT).

The Company’s profits are shared on the Company’s website. You may find the reports in the Investor Relations section or by visiting this website address:


These reports will list the Revenues and Adjusted EBITDA for the business segments. EBITDA stands for Earnings Before Interest, Taxes, Depreciation/Depletion and Amortization.  Since our profit-sharing formula is based on EBIT, you will need to subtract Depreciation/Depletion and Amortization from this number.

The pool of profits was created not only by us, but also by our Brothers and Sisters in the Mines and the AK Steel-Mansfield facility.  To account for our portion of the pool, we make a final calculation which is to multiply the profit-sharing pool by the ratio of our hours worked to the total hours worked by employees in the Steelmaking Segment. This is a fixed ratio at 60% for the term of the BLA.  Please remember, eligible hours will change every quarter.

The following table will summarize our 2022 4th Quarter Profit-Sharing numbers: 

Adjusted EBITA, Steelmaking                                     $122,000,000
Depreciation, Depletion and Amortization                   $236,000,000
EBIT                                                                             -$114,000,000
Profit-Sharing Percentage                                           6%
Profit-Sharing Pool                                                      $0.00
USW Hours Worked Ratio                                           60%
Employee Pool                                                            $0.00
USW Eligible Hours                                                     6,481,484
Profit-Sharing Payout per Hour                                   $0

Adjusted EBITDA – Depreciation & Amortization x Profit-Sharing Percentage (6%)  x Hours worked (60%) ÷ Eligible hours = Payout/hour

In Solidarity, 
Pete Trinidad Sr. 
USW Local 6787