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Quarterly report pursuant to Section 13 or 15(d)

REVENUES

v3.22.1
REVENUES
 3 Months Ended
Mar. 31, 2022
Revenue from Contract with Customer [Abstract] Ìý
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.
The following table represents our Revenues by market:
(In Millions)
Three Months Ended
March 31,
2022 2021
Steelmaking:
Automotive $ 1,607Ìý $ 1,287Ìý
Infrastructure and manufacturing 1,542Ìý 954Ìý
Distributors and converters 1,829Ìý 1,248Ìý
Steel producers
 816Ìý 430Ìý
Total Steelmaking 5,794Ìý 3,919Ìý
Other Businesses:
Automotive 122Ìý 105Ìý
Infrastructure and manufacturing 15Ìý 10Ìý
Distributors and converters 24Ìý 15Ìý
Total Other Businesses 161Ìý 130Ìý
Total revenues $ 5,955Ìý $ 4,049Ìý
The following tables represent our Revenues by product line:
(Dollars in Millions,
Sales Volumes in Thousands of Net Tons)
Three Months Ended March 31,
2022 2021
Revenue Volume Revenue Volume
Steelmaking:
Hot-rolled steel $ 1,194Ìý 903Ìý $ 895Ìý 1,182Ìý
Cold-rolled steel 984Ìý 651Ìý 632Ìý 748Ìý
Coated steel 1,775Ìý 1,242Ìý 1,308Ìý 1,369Ìý
Stainless and electrical steel 551Ìý 189Ìý 363Ìý 167Ìý
Plate 421Ìý 221Ìý 244Ìý 275Ìý
Other steel products 334Ìý 431Ìý 289Ìý 403Ìý
Other 535Ìý N/A 188Ìý N/A
Total Steelmaking 5,794Ìý 3,919Ìý
Other Businesses:
Other 161Ìý N/A 130Ìý N/A
Total revenues $ 5,955Ìý $ 4,049Ìý