Quarterly report pursuant to Section 13 or 15(d)

REVENUES

v3.22.2
REVENUES
 6 Months Ended
Jun. 30, 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) (In Millions)
Three Months Ended
June 30,		 Six Months Ended
June 30,
2022 2021 2022 2021
Steelmaking:
Automotive $ 1,644  $ 1,130  $ 3,251  $ 2,428 
Infrastructure and manufacturing 1,615  1,312  3,157  2,286 
Distributors and converters 1,840  1,948  3,669  3,225 
Steel producers
 1,077  532  1,893  902 
Total Steelmaking 6,176  4,922  11,970  8,841 
Other Businesses:
Automotive 124  96  246  201 
Infrastructure and manufacturing 14  11  29  21 
Distributors and converters 23  16  47  31 
Total Other Businesses 161  123  322  253 
Total revenues $ 6,337  $ 5,045  $ 12,292  $ 9,094 
The following tables represent our Revenues by product line:
(Dollars in Millions,
Sales Volumes in Thousands of Net Tons)
Three Months Ended June 30,
2022 2021
Revenue Volume Revenue Volume
Steelmaking:
Hot-rolled steel $ 1,251  1,038  $ 1,485  1,386 
Cold-rolled steel 869  590  773  720 
Coated steel 1,806  1,191  1,379  1,247 
Stainless and electrical steel 618  194  397  168 
Plate 453  238  321  273 
Other steel products 417  390  345  411 
Other 762  N/A 222  N/A
Total Steelmaking 6,176  4,922 
Other Businesses:
Other 161  N/A 123  N/A
Total revenues $ 6,337  $ 5,045 
(Dollars in Millions,
Sales Volumes in Thousands of Net Tons)
Six Months Ended June 30,
2022 2021
Revenue Volume Revenue Volume
Steelmaking:
Hot-rolled steel $ 2,445  1,941  $ 2,404  2,568 
Cold-rolled steel 1,853  1,241  1,417  1,468 
Coated steel 3,581  2,433  2,703  2,616 
Stainless and electrical steel 1,169  383  760  335 
Plate 874  459  572  548 
Other steel products 751  821  635  814 
Other 1,297  N/A 350  N/A
Total Steelmaking 11,970  8,841 
Other Businesses:
Other 322  N/A 253  N/A
Total revenues $ 12,292  $ 9,094