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Quarterly report pursuant to Section 13 or 15(d)

REVENUES

v3.23.3
REVENUES
 9 Months Ended
Sep. 30, 2023
Revenue from Contract with Customer [Abstract] Ìý
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
September 30,		 Nine Months Ended
September 30,
(In millions) 2023 2022 2023 2022
Steelmaking:
Automotive $ 1,958Ìý $ 1,734Ìý $ 5,808Ìý $ 4,985Ìý
Infrastructure and manufacturing 1,427Ìý 1,462Ìý 4,315Ìý 4,619Ìý
Distributors and converters 1,321Ìý 1,468Ìý 4,020Ìý 5,137Ìý
Steel producers
 737Ìý 847Ìý 2,234Ìý 2,740Ìý
Total Steelmaking 5,443Ìý 5,511Ìý 16,377Ìý 17,481Ìý
Other Businesses:
Automotive 133Ìý 113Ìý 415Ìý 359Ìý
Infrastructure and manufacturing 9Ìý 14Ìý 29Ìý 43Ìý
Distributors and converters 20Ìý 15Ìý 63Ìý 62Ìý
Total Other Businesses 162Ìý 142Ìý 507Ìý 464Ìý
Total revenues $ 5,605Ìý $ 5,653Ìý $ 16,884Ìý $ 17,945Ìý
The following tables represent our Revenues by product line:
Three Months Ended
September 30,		 Nine Months Ended
September 30,
(In millions) 2023 2022 2023 2022
Steelmaking:
Hot-rolled steel $ 1,269Ìý $ 1,050Ìý $ 3,747Ìý $ 3,495Ìý
Cold-rolled steel 651Ìý 740Ìý 2,038Ìý 2,593Ìý
Coated steel 1,748Ìý 1,757Ìý 5,154Ìý 5,338Ìý
Stainless and electrical steel 568Ìý 596Ìý 1,757Ìý 1,765Ìý
Plate 382Ìý 432Ìý 1,112Ìý 1,306Ìý
Slab and other steel products 322Ìý 370Ìý 1,015Ìý 1,121Ìý
Other 503Ìý 566Ìý 1,554Ìý 1,863Ìý
Total Steelmaking 5,443Ìý 5,511Ìý 16,377Ìý 17,481Ìý
Other Businesses:
Other 162Ìý 142Ìý 507Ìý 464Ìý
Total revenues $ 5,605Ìý $ 5,653Ìý $ 16,884Ìý $ 17,945Ìý