Quarterly report pursuant to Section 13 or 15(d)

REVENUES

v3.23.2
REVENUES
 6 Months Ended
Jun. 30, 2023
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
June 30,		 Six Months Ended
June 30,
(In millions) 2023 2022 2023 2022
Steelmaking:
Automotive $ 1,980  $ 1,644  $ 3,850  $ 3,251 
Infrastructure and manufacturing 1,591  1,615  2,888  3,157 
Distributors and converters 1,441  1,840  2,699  3,669 
Steel producers
 796  1,077  1,497  1,893 
Total Steelmaking 5,808  6,176  10,934  11,970 
Other Businesses:
Automotive 143  124  282  246 
Infrastructure and manufacturing 10  14  20  29 
Distributors and converters 23  23  43  47 
Total Other Businesses 176  161  345  322 
Total revenues $ 5,984  $ 6,337  $ 11,279  $ 12,292 
The following tables represent our Revenues by product line:
Three Months Ended
June 30,		 Six Months Ended
June 30,
(In millions) 2023 2022 2023 2022
Steelmaking:
Hot-rolled steel $ 1,357  $ 1,251  $ 2,478  $ 2,445 
Cold-rolled steel 748  869  1,387  1,853 
Coated steel 1,789  1,806  3,406  3,581 
Stainless and electrical steel 615  618  1,189  1,169 
Plate 399  453  730  874 
Slab and other steel products 366  417  693  751 
Other 534  762  1,051  1,297 
Total Steelmaking 5,808  6,176  10,934  11,970 
Other Businesses:
Other 176  161  345  322 
Total revenues $ 5,984  $ 6,337  $ 11,279  $ 12,292