Quarterly report pursuant to Section 13 or 15(d)

REVENUES

v3.22.2.2
REVENUES
 9 Months Ended
Sep. 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
September 30,		 Nine Months Ended
September 30,
2022 2021 2022 2021
Steelmaking:
Automotive $ 1,734  $ 1,149  $ 4,985  $ 3,577 
Infrastructure and manufacturing 1,462  1,603  4,619  3,889 
Distributors and converters 1,468  2,447  5,137  5,672 
Steel producers
 847  670  2,740  1,572 
Total Steelmaking 5,511  5,869  17,481  14,710 
Other Businesses:
Automotive 113  105  359  306 
Infrastructure and manufacturing 14  12  43  33 
Distributors and converters 15  18  62  49 
Total Other Businesses 142  135  464  388 
Total revenues $ 5,653  $ 6,004  $ 17,945  $ 15,098 
The following tables represent our Revenues by product line:
(Dollars in Millions,
Sales Volumes in Thousands of Net Tons)
Three Months Ended September 30,
2022 2021
Revenue Volume Revenue Volume
Steelmaking:
Hot-rolled steel $ 1,050  1,055  $ 1,800  1,332 
Cold-rolled steel 740  530  935  728 
Coated steel 1,757  1,203  1,635  1,291 
Stainless and electrical steel 596  196  441  177 
Plate 432  228  357  244 
Other steel products 370  423  374  381 
Other 566  N/A 327  N/A
Total Steelmaking 5,511  5,869 
Other Businesses:
Other 142  N/A 135  N/A
Total revenues $ 5,653  $ 6,004 
(Dollars in Millions,
Sales Volumes in Thousands of Net Tons)
Nine Months Ended September 30,
2022 2021
Revenue Volume Revenue Volume
Steelmaking:
Hot-rolled steel $ 3,495  2,996  $ 4,204  3,900 
Cold-rolled steel 2,593  1,771  2,352  2,196 
Coated steel 5,338  3,636  4,338  3,907 
Stainless and electrical steel 1,765  579  1,201  512 
Plate 1,306  687  929  792 
Other steel products 1,121  1,244  1,009  1,195 
Other 1,863  N/A 677  N/A
Total Steelmaking 17,481  14,710 
Other Businesses:
Other 464  N/A 388  N/A
Total revenues $ 17,945  $ 15,098