Quarterly report [Sections 13 or 15(d)]

REVENUES

v3.25.2
REVENUES
 6 Months Ended
Jun. 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
June 30,		 Six Months Ended
June 30,
(In millions) 2025 2024 2025 2024
Steelmaking
Automotive $ 1,249  $ 1,460  $ 2,546  $ 3,077 
Infrastructure and manufacturing 1,489  1,421  2,843  2,813 
Distributors and converters 1,433  1,402  2,661  2,814 
Other
 600  632  1,188  1,238 
Total Steelmaking 4,771  4,915  9,238  9,942 
Other Businesses
Automotive 129  148  259  288 
Infrastructure and manufacturing 14  10  24  20 
Distributors and converters 20  19  42  41 
Total Other Businesses 163  177  325  349 
Total revenues $ 4,934  $ 5,092  $ 9,563  $ 10,291 
The following tables represent our Revenues by product line:
Three Months Ended
June 30,		 Six Months Ended
June 30,
(In millions) 2025 2024 2025 2024
Steelmaking
Hot-rolled steel $ 1,332  $ 1,115  $ 2,498  $ 2,243 
Cold-rolled steel 645  711  1,236  1,460 
Coated steel 1,392  1,546  2,753  3,169 
Stainless and electrical steel 434  480  878  941 
Plate steel 275  317  522  650 
Other steel products 276  318  523  653 
Other 417  428  828  826 
Total Steelmaking 4,771  4,915  9,238  9,942 
Other Businesses
Other 163  177  325  349 
Total revenues $ 4,934  $ 5,092  $ 9,563  $ 10,291