Quarterly report [Sections 13 or 15(d)]

REVENUES

v3.25.3
REVENUES
 9 Months Ended
Sep. 30, 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
September 30,		 Nine Months Ended
September 30,
(In millions) 2025 2024 2025 2024
Steelmaking
Automotive $ 1,356  $ 1,334  $ 3,902  $ 4,411 
Infrastructure and manufacturing 1,326  1,160  4,169  3,973 
Distributors and converters 1,288  1,317  3,949  4,131 
Other
 591  608  1,779  1,846 
Total Steelmaking 4,561  4,419  13,799  14,361 
Other Businesses
Automotive 144  123  403  411 
Infrastructure and manufacturing 11  9  35  29 
Distributors and converters 18  18  60  59 
Total Other Businesses 173  150  498  499 
Total revenues $ 4,734  $ 4,569  $ 14,297  $ 14,860 
The following tables represent our Revenues by product line:
Three Months Ended
September 30,		 Nine Months Ended
September 30,
(In millions) 2025 2024 2025 2024
Steelmaking
Hot-rolled steel $ 1,122  $ 1,003  $ 3,620  $ 3,246 
Cold-rolled steel 636  671  1,872  2,131 
Coated steel 1,442  1,377  4,195  4,546 
Stainless and electrical steel 466  449  1,344  1,390 
Plate steel 286  237  808  887 
Other steel products 204  276  727  929 
Other 405  406  1,233  1,232 
Total Steelmaking 4,561  4,419  13,799  14,361 
Other Businesses
Other 173  150  498  499 
Total revenues $ 4,734  $ 4,569  $ 14,297  $ 14,860