Quarterly report pursuant to Section 13 or 15(d)

REVENUES

v3.22.1
REVENUES
 3 Months Ended
Mar. 31, 2022
Revenue from Contract with Customer [Abstract]  
REVENUES
NOTE 4 - REVENUES
We generate our revenue through product sales, in which shipping terms indicate when we have fulfilled our performance obligations and transferred control of products to our customer. Our revenue transactions consist of a single performance obligation to transfer promised goods. Our contracts with customers define the mechanism for determining the sales price, which is generally fixed upon transfer of control, but the contracts generally do not impose a specific quantity on either party. Quantities to be delivered to the customer are determined at a point near the date of delivery through purchase orders or other written instructions we receive from the customer. Spot market sales are made through purchase orders or other written instructions. We consider our performance obligation to be complete and recognize revenue when control transfers in accordance with shipping terms.
Revenue is measured as the amount of consideration we expect to receive in exchange for transferring product. We reduce the amount of revenue recognized for estimated returns and other customer credits, such as discounts and volume rebates, based on the expected value to be realized. Payment terms are consistent with terms standard to the markets we serve. Sales taxes collected from customers are excluded from revenues.
The following table represents our Revenues by market:
(In Millions)
Three Months Ended
March 31,
2022 2021
Steelmaking:
Automotive $ 1,607  $ 1,287 
Infrastructure and manufacturing 1,542  954 
Distributors and converters 1,829  1,248 
Steel producers
 816  430 
Total Steelmaking 5,794  3,919 
Other Businesses:
Automotive 122  105 
Infrastructure and manufacturing 15  10 
Distributors and converters 24  15 
Total Other Businesses 161  130 
Total revenues $ 5,955  $ 4,049 
The following tables represent our Revenues by product line:
(Dollars in Millions,
Sales Volumes in Thousands of Net Tons)
Three Months Ended March 31,
2022 2021
Revenue Volume Revenue Volume
Steelmaking:
Hot-rolled steel $ 1,194  903  $ 895  1,182 
Cold-rolled steel 984  651  632  748 
Coated steel 1,775  1,242  1,308  1,369 
Stainless and electrical steel 551  189  363  167 
Plate 421  221  244  275 
Other steel products 334  431  289  403 
Other 535  N/A 188  N/A
Total Steelmaking 5,794  3,919 
Other Businesses:
Other 161  N/A 130  N/A
Total revenues $ 5,955  $ 4,049