USX Corp. Profit Climbs on One-Time Gains

USX Corp. said its profit soared in the second quarter, mostly due to a favorable accounting adjustment in the value of inventory and $296 million received in the settlement of a tax refund claim.

The company’s profit rose to $232 million in the second quarter from $25 million in the same period of 1991. Sales fell nearly 4% to $4.48 billion from $4.6 billion.

The company received a refund of $119 million in taxes and $177 million in interest in the second quarter in a claim sought by its Marathon Oil unit for 1982 through 1985.

Net income from the company’s Marathon Oil group rose 253% in the second quarter to $226 million from $64 million in the year-ago period. Sales fell 9% to $3.2 billion from $3.5 billion.