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Quarterly report pursuant to Section 13 or 15(d)

REVENUES

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REVENUES
 3 Months Ended
Mar. 31, 2024
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
March 31,
(In millions) 2024 2023
Steelmaking:
Direct automotive $ 1,617Ìý $ 1,870Ìý
Infrastructure and manufacturing 1,392Ìý 1,297Ìý
Distributors and converters 1,412Ìý 1,258Ìý
Steel producers
 606Ìý 701Ìý
Total Steelmaking 5,027Ìý 5,126Ìý
Other Businesses:
Direct automotive 140Ìý 139Ìý
Infrastructure and manufacturing 10Ìý 10Ìý
Distributors and converters 22Ìý 20Ìý
Total Other Businesses 172Ìý 169Ìý
Total revenues $ 5,199Ìý $ 5,295Ìý
The following tables represent our Revenues by product line:
Three Months Ended
March 31,
(In millions) 2024 2023
Steelmaking:
Hot-rolled steel $ 1,128Ìý $ 1,121Ìý
Cold-rolled steel 749Ìý 639Ìý
Coated steel 1,623Ìý 1,617Ìý
Stainless and electrical steel 461Ìý 574Ìý
Plate 333Ìý 331Ìý
Slab and other steel products 335Ìý 327Ìý
Other 398Ìý 517Ìý
Total Steelmaking 5,027Ìý 5,126Ìý
Other Businesses:
Other 172Ìý 169Ìý
Total revenues $ 5,199Ìý $ 5,295Ìý