Annual report [Section 13 and 15(d), not S-K Item 405]

REVENUES

v3.25.0.1
REVENUES
 12 Months Ended
Dec. 31, 2024
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. Revenue by market and product are presented net of intersegment revenues, which are entirely related to the Steelmaking segment.
The following table represents our Revenues by market:
Year Ended December 31,
(In millions) 2024 2023 2022
Steelmaking:
Automotive $ 5,571  $ 7,440  $ 6,661 
Infrastructure and manufacturing 5,208  5,612  5,869 
Distributors and converters 5,281  5,330  6,388 
Steel producers
 2,469  2,949  3,465 
Total Steelmaking 18,529  21,331  22,383 
Other Businesses:
Automotive 540  545  478 
Infrastructure and manufacturing 39  38  52 
Distributors and converters 77  82  76 
Total Other Businesses 656  665  606 
Total revenues $ 19,185  $ 21,996  $ 22,989 
The following table represents our Revenues by product line:
Year Ended December 31,
(In millions) 2024 2023 2022
Steelmaking:
Hot-rolled steel $ 4,276  $ 4,864  $ 4,529 
Cold-rolled steel 2,712  2,658  3,193 
Coated steel 5,773  6,661  6,905 
Stainless and electrical steel 1,807  2,281  2,284 
Plate 1,119  1,444  1,651 
Slab and other steel products 1,178  1,329  1,492 
Other 1,664  2,094  2,329 
Total Steelmaking 18,529  21,331  22,383 
Other Businesses:
Other 656  665  606 
Total revenues $ 19,185  $ 21,996  $ 22,989