Quarterly report [Sections 13 or 15(d)]

REVENUES

v3.26.1
REVENUES
 6 Months Ended
Jun. 30, 2026
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. Revenue by market and product are presented net of intersegment revenues.
The following table represents our Revenues by market:
Three Months Ended
June 30,		 Six Months Ended
June 30,
(In millions) 2026 2025 2026 2025
Steelmaking
Direct automotive $ 1,461  $ 1,249  $ 2,829  $ 2,546 
Infrastructure and manufacturing 1,427  1,489  2,801  2,843 
Distributors and converters 1,638  1,433  3,101  2,661 
Steel producers
 526  600  1,078  1,188 
Total Steelmaking 5,052  4,771  9,809  9,238 
Other Businesses
Direct automotive 147  129  285  259 
Infrastructure and manufacturing 11  14  20  24 
Distributors and converters 16  20  34  42 
Total Other Businesses 174  163  339  325 
Total revenues $ 5,226  $ 4,934  $ 10,148  $ 9,563 
The following tables represent our Revenues by product line:
Three Months Ended
June 30,		 Six Months Ended
June 30,
(In millions) 2026 2025 2026 2025
Steelmaking
Hot-rolled steel $ 1,539  $ 1,332  $ 2,949  $ 2,498 
Cold-rolled steel 660  645  1,297  1,236 
Coated steel 1,532  1,392  2,963  2,753 
Stainless and electrical steel 525  434  990  878 
Plate steel 253  275  507  522 
Other steel products 16  276  124  523 
Other 527  417  979  828 
Total Steelmaking 5,052  4,771  9,809  9,238 
Other Businesses
Other 174  163  339  325 
Total revenues $ 5,226  $ 4,934  $ 10,148  $ 9,563