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Quarterly report pursuant to Section 13 or 15(d)

REVENUES

v3.24.3
REVENUES
 9 Months Ended
Sep. 30, 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
September 30,		 Nine Months Ended
September 30,
(In millions) 2024 2023 2024 2023
Steelmaking:
Direct automotive $ 1,334Ìý $ 1,958Ìý $ 4,411Ìý $ 5,808Ìý
Infrastructure and manufacturing 1,160Ìý 1,427Ìý 3,973Ìý 4,315Ìý
Distributors and converters 1,317Ìý 1,321Ìý 4,131Ìý 4,020Ìý
Steel producers
 608Ìý 737Ìý 1,846Ìý 2,234Ìý
Total Steelmaking 4,419Ìý 5,443Ìý 14,361Ìý 16,377Ìý
Other Businesses:
Direct automotive 123Ìý 133Ìý 411Ìý 415Ìý
Infrastructure and manufacturing 9Ìý 9Ìý 29Ìý 29Ìý
Distributors and converters 18Ìý 20Ìý 59Ìý 63Ìý
Total Other Businesses 150Ìý 162Ìý 499Ìý 507Ìý
Total revenues $ 4,569Ìý $ 5,605Ìý $ 14,860Ìý $ 16,884Ìý
The following tables represent our Revenues by product line:
Three Months Ended
September 30,		 Nine Months Ended
September 30,
(In millions) 2024 2023 2024 2023
Steelmaking:
Hot-rolled steel $ 1,003Ìý $ 1,269Ìý $ 3,246Ìý $ 3,747Ìý
Cold-rolled steel 671Ìý 651Ìý 2,131Ìý 2,038Ìý
Coated steel 1,377Ìý 1,748Ìý 4,546Ìý 5,154Ìý
Stainless and electrical steel 449Ìý 568Ìý 1,390Ìý 1,757Ìý
Plate 237Ìý 382Ìý 887Ìý 1,112Ìý
Slab and other steel products 276Ìý 322Ìý 929Ìý 1,015Ìý
Other 406Ìý 503Ìý 1,232Ìý 1,554Ìý
Total Steelmaking 4,419Ìý 5,443Ìý 14,361Ìý 16,377Ìý
Other Businesses:
Other 150Ìý 162Ìý 499Ìý 507Ìý
Total revenues $ 4,569Ìý $ 5,605Ìý $ 14,860Ìý $ 16,884Ìý