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Quarterly report pursuant to Section 13 or 15(d)

REVENUES

v3.22.2
REVENUES
 6 Months Ended
Jun. 30, 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) (In Millions)
Three Months Ended
June 30,		 Six Months Ended
June 30,
2022 2021 2022 2021
Steelmaking:
Automotive $ 1,644Ìý $ 1,130Ìý $ 3,251Ìý $ 2,428Ìý
Infrastructure and manufacturing 1,615Ìý 1,312Ìý 3,157Ìý 2,286Ìý
Distributors and converters 1,840Ìý 1,948Ìý 3,669Ìý 3,225Ìý
Steel producers
 1,077Ìý 532Ìý 1,893Ìý 902Ìý
Total Steelmaking 6,176Ìý 4,922Ìý 11,970Ìý 8,841Ìý
Other Businesses:
Automotive 124Ìý 96Ìý 246Ìý 201Ìý
Infrastructure and manufacturing 14Ìý 11Ìý 29Ìý 21Ìý
Distributors and converters 23Ìý 16Ìý 47Ìý 31Ìý
Total Other Businesses 161Ìý 123Ìý 322Ìý 253Ìý
Total revenues $ 6,337Ìý $ 5,045Ìý $ 12,292Ìý $ 9,094Ìý
The following tables represent our Revenues by product line:
(Dollars in Millions,
Sales Volumes in Thousands of Net Tons)
Three Months Ended June 30,
2022 2021
Revenue Volume Revenue Volume
Steelmaking:
Hot-rolled steel $ 1,251Ìý 1,038Ìý $ 1,485Ìý 1,386Ìý
Cold-rolled steel 869Ìý 590Ìý 773Ìý 720Ìý
Coated steel 1,806Ìý 1,191Ìý 1,379Ìý 1,247Ìý
Stainless and electrical steel 618Ìý 194Ìý 397Ìý 168Ìý
Plate 453Ìý 238Ìý 321Ìý 273Ìý
Other steel products 417Ìý 390Ìý 345Ìý 411Ìý
Other 762Ìý N/A 222Ìý N/A
Total Steelmaking 6,176Ìý 4,922Ìý
Other Businesses:
Other 161Ìý N/A 123Ìý N/A
Total revenues $ 6,337Ìý $ 5,045Ìý
(Dollars in Millions,
Sales Volumes in Thousands of Net Tons)
Six Months Ended June 30,
2022 2021
Revenue Volume Revenue Volume
Steelmaking:
Hot-rolled steel $ 2,445Ìý 1,941Ìý $ 2,404Ìý 2,568Ìý
Cold-rolled steel 1,853Ìý 1,241Ìý 1,417Ìý 1,468Ìý
Coated steel 3,581Ìý 2,433Ìý 2,703Ìý 2,616Ìý
Stainless and electrical steel 1,169Ìý 383Ìý 760Ìý 335Ìý
Plate 874Ìý 459Ìý 572Ìý 548Ìý
Other steel products 751Ìý 821Ìý 635Ìý 814Ìý
Other 1,297Ìý N/A 350Ìý N/A
Total Steelmaking 11,970Ìý 8,841Ìý
Other Businesses:
Other 322Ìý N/A 253Ìý N/A
Total revenues $ 12,292Ìý $ 9,094Ìý