Quarterly report [Sections 13 or 15(d)]

REVENUES

v3.25.1
REVENUES
 3 Months Ended
Mar. 31, 2025
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:
Three Months Ended
March 31,
(In millions) 2025 2024
Steelmaking:
Direct automotive $ 1,297  $ 1,617 
Infrastructure and manufacturing 1,354  1,392 
Distributors and converters 1,228  1,412 
Steel producers
 588  606 
Total Steelmaking 4,467  5,027 
Other Businesses:
Direct automotive 130  140 
Infrastructure and manufacturing 10  10 
Distributors and converters 22  22 
Total Other Businesses 162  172 
Total revenues $ 4,629  $ 5,199 
The following tables represent our Revenues by product line:
Three Months Ended
March 31,
(In millions) 2025 2024
Steelmaking:
Hot-rolled steel $ 1,166  $ 1,128 
Cold-rolled steel 591  749 
Coated steel 1,361  1,623 
Stainless and electrical steel 444  461 
Plate 247  333 
Slab and other steel products 247  335 
Other 411  398 
Total Steelmaking 4,467  5,027 
Other Businesses:
Other 162  172 
Total revenues $ 4,629  $ 5,199