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MRO » Topics » Amounts Receivable from or Payable to United States Steel Arising from the Separation -

This excerpt taken from the MRO 10-Q filed Nov 4, 2005.
Amounts Receivable from or Payable to United States Steel Arising from the Separation – Marathon remains primarily obligated for certain financings for which United States Steel has assumed responsibility for repayment under the terms of the Separation. When United States Steel makes payments on the principal of these financings, both the receivable from United States Steel and the obligation are reduced.

 

Amounts receivable from and payable to United States Steel included in the consolidated balance sheet were as follows:

 

 

 

September 30,

 

December 31,

 

(In millions)

 

2005

 

2004

 

Receivables related to debt and other obligations for which United States Steel has assumed responsibility for repayment:

 

 

 

 

 

Current

 

$

21

 

$

15

 

Noncurrent

 

576

 

587

 

 

 

 

 

 

 

Current income tax settlement and related interest payable

 

$

6

 

$

—

 

Noncurrent reimbursements payable under nonqualified employee benefit plans

 

5

 

5

 

 

Marathon remains primarily obligated for $46 million of operating lease obligations assumed by United States Steel, of which $37 million has been assumed by third parties that purchased plants and operations divested by United States Steel.

 

6


 

This excerpt taken from the MRO 10-Q filed Aug 8, 2005.
Amounts Receivable from or Payable to United States Steel Arising from the Separation – Marathon remains primarily obligated for certain financings for which United States Steel has assumed responsibility for repayment under the terms of the Separation. When United States Steel makes payments on the principal of these financings, both the receivable and the obligation will be reduced.

 

Amounts receivable or payable to United States Steel included in the consolidated balance sheet were as follows:

 

 

 

June 30

 

December 31

 

(In millions)

 

2005

 

2004

 

Receivables:

 

 

 

 

 

Current:

 

 

 

 

 

Receivables related to debt and other obligations for which United States Steel has assumed responsibility for repayment

 

$

19

 

$

15

 

Noncurrent:

 

 

 

 

 

Receivables related to debt and other obligations for which United States Steel has assumed responsibility for repayment

 

$

579

 

$

587

 

Payables:

 

 

 

 

 

Noncurrent:

 

 

 

 

 

Reimbursements payable under nonqualified employee benefit plans

 

$

5

 

$

5

 

 

Marathon remains primarily obligated for $49 million of operating lease obligations assumed by United States Steel, of which $39 million has been assumed by other third parties that purchased plants and operations divested by United States Steel.

 

6


 

EXCERPTS ON THIS PAGE:

10-Q
Nov 4, 2005
10-Q
Aug 8, 2005

RELATED TOPICS for MRO:

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