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MRO » Topics » Summary of Contractual Cash Obligations Assumed by United States Steel

This excerpt taken from the MRO 10-K filed Feb 29, 2008.

Summary of Contractual Cash Obligations Assumed by United States Steel

 

(In millions)    Total    2008   

2009-

2010

   

2011-

2012

    Later
Years

Long-term debt (excludes interest)(a)

   $ 415    $ –    $ –    $ –    $ 415

Sale-leaseback financing (includes imputed interest)

      55      11      22      22      –

Capital lease obligations

      48      10      19      19      –

Operating lease obligations under sublease

      26      5      10      11      –
                                  

Total contractual cash obligations assumed by United States Steel

    $ 544    $ 26    $ 51    $ 52    $ 415

(a)

We anticipate cash payments for interest of $23 million for 2008, $46 million for 2009-2010, $38 million for 2011-2012 and $223 million for the later years to be assumed by United States Steel.

United States Steel reported in its Form 10-K for the year ended December 31, 2007, that it has restrictive covenants related to its indebtedness that could have an adverse effect on its financial position and liquidity. Further, United States Steel reported that the restrictive nature of its financial covenants decreased during 2007 and that its management believes that its liquidity will be adequate to satisfy its obligations for the foreseeable future.

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