Quarterly report pursuant to Section 13 or 15(d)

REVENUES

v3.23.1
REVENUES
 3 Months Ended
Mar. 31, 2023
Revenue from Contract with Customer [Abstract]  
REVENUES
NOTE 3 - 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:
Three Months Ended
March 31,
(In millions) 2023 2022
Steelmaking:
Automotive $ 1,870  $ 1,607 
Infrastructure and manufacturing 1,297  1,542 
Distributors and converters 1,258  1,829 
Steel producers
 701  816 
Total Steelmaking 5,126  5,794 
Other Businesses:
Automotive 139  122 
Infrastructure and manufacturing 10  15 
Distributors and converters 20  24 
Total Other Businesses 169  161 
Total revenues $ 5,295  $ 5,955 
The following tables represent our Revenues by product line:
Three Months Ended
March 31,
(In millions) 2023 2022
Steelmaking:
Hot-rolled steel $ 1,121  $ 1,194 
Cold-rolled steel 639  984 
Coated steel 1,617  1,775 
Stainless and electrical steel 574  551 
Plate 331  421 
Slab and other steel products 327  334 
Other 517  535 
Total Steelmaking 5,126  5,794 
Other Businesses:
Other 169  161 
Total revenues $ 5,295  $ 5,955