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Annual report [Section 13 and 15(d), not S-K Item 405]

REVENUES

v3.25.0.1
REVENUES
 12 Months Ended
Dec. 31, 2024
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. Revenue by market and product are presented net of intersegment revenues, which are entirely related to the Steelmaking segment.
The following table represents our Revenues by market:
Year Ended December 31,
(In millions) 2024 2023 2022
Steelmaking:
Automotive $ 5,571Ìý $ 7,440Ìý $ 6,661Ìý
Infrastructure and manufacturing 5,208Ìý 5,612Ìý 5,869Ìý
Distributors and converters 5,281Ìý 5,330Ìý 6,388Ìý
Steel producers
 2,469Ìý 2,949Ìý 3,465Ìý
Total Steelmaking 18,529Ìý 21,331Ìý 22,383Ìý
Other Businesses:
Automotive 540Ìý 545Ìý 478Ìý
Infrastructure and manufacturing 39Ìý 38Ìý 52Ìý
Distributors and converters 77Ìý 82Ìý 76Ìý
Total Other Businesses 656Ìý 665Ìý 606Ìý
Total revenues $ 19,185Ìý $ 21,996Ìý $ 22,989Ìý
The following table represents our Revenues by product line:
Year Ended December 31,
(In millions) 2024 2023 2022
Steelmaking:
Hot-rolled steel $ 4,276Ìý $ 4,864Ìý $ 4,529Ìý
Cold-rolled steel 2,712Ìý 2,658Ìý 3,193Ìý
Coated steel 5,773Ìý 6,661Ìý 6,905Ìý
Stainless and electrical steel 1,807Ìý 2,281Ìý 2,284Ìý
Plate 1,119Ìý 1,444Ìý 1,651Ìý
Slab and other steel products 1,178Ìý 1,329Ìý 1,492Ìý
Other 1,664Ìý 2,094Ìý 2,329Ìý
Total Steelmaking 18,529Ìý 21,331Ìý 22,383Ìý
Other Businesses:
Other 656Ìý 665Ìý 606Ìý
Total revenues $ 19,185Ìý $ 21,996Ìý $ 22,989Ìý