Quarterly report pursuant to Section 13 or 15(d)

REVENUES

v3.23.3
REVENUES
 9 Months Ended
Sep. 30, 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
September 30,		 Nine Months Ended
September 30,
(In millions) 2023 2022 2023 2022
Steelmaking:
Automotive $ 1,958  $ 1,734  $ 5,808  $ 4,985 
Infrastructure and manufacturing 1,427  1,462  4,315  4,619 
Distributors and converters 1,321  1,468  4,020  5,137 
Steel producers
 737  847  2,234  2,740 
Total Steelmaking 5,443  5,511  16,377  17,481 
Other Businesses:
Automotive 133  113  415  359 
Infrastructure and manufacturing 9  14  29  43 
Distributors and converters 20  15  63  62 
Total Other Businesses 162  142  507  464 
Total revenues $ 5,605  $ 5,653  $ 16,884  $ 17,945 
The following tables represent our Revenues by product line:
Three Months Ended
September 30,		 Nine Months Ended
September 30,
(In millions) 2023 2022 2023 2022
Steelmaking:
Hot-rolled steel $ 1,269  $ 1,050  $ 3,747  $ 3,495 
Cold-rolled steel 651  740  2,038  2,593 
Coated steel 1,748  1,757  5,154  5,338 
Stainless and electrical steel 568  596  1,757  1,765 
Plate 382  432  1,112  1,306 
Slab and other steel products 322  370  1,015  1,121 
Other 503  566  1,554  1,863 
Total Steelmaking 5,443  5,511  16,377  17,481 
Other Businesses:
Other 162  142  507  464 
Total revenues $ 5,605  $ 5,653  $ 16,884  $ 17,945