Quarterly report pursuant to Section 13 or 15(d)

REVENUES

v3.24.3
REVENUES
 9 Months Ended
Sep. 30, 2024
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) 2024 2023 2024 2023
Steelmaking:
Direct automotive $ 1,334  $ 1,958  $ 4,411  $ 5,808 
Infrastructure and manufacturing 1,160  1,427  3,973  4,315 
Distributors and converters 1,317  1,321  4,131  4,020 
Steel producers
 608  737  1,846  2,234 
Total Steelmaking 4,419  5,443  14,361  16,377 
Other Businesses:
Direct automotive 123  133  411  415 
Infrastructure and manufacturing 9  9  29  29 
Distributors and converters 18  20  59  63 
Total Other Businesses 150  162  499  507 
Total revenues $ 4,569  $ 5,605  $ 14,860  $ 16,884 
The following tables represent our Revenues by product line:
Three Months Ended
September 30,		 Nine Months Ended
September 30,
(In millions) 2024 2023 2024 2023
Steelmaking:
Hot-rolled steel $ 1,003  $ 1,269  $ 3,246  $ 3,747 
Cold-rolled steel 671  651  2,131  2,038 
Coated steel 1,377  1,748  4,546  5,154 
Stainless and electrical steel 449  568  1,390  1,757 
Plate 237  382  887  1,112 
Slab and other steel products 276  322  929  1,015 
Other 406  503  1,232  1,554 
Total Steelmaking 4,419  5,443  14,361  16,377 
Other Businesses:
Other 150  162  499  507 
Total revenues $ 4,569  $ 5,605  $ 14,860  $ 16,884