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Quarterly report pursuant to Section 13 or 15(d)

REVENUES

v3.23.1
REVENUES
 3 Months Ended
Mar. 31, 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
March 31,
(In millions) 2023 2022
Steelmaking:
Automotive $ 1,870Ìý $ 1,607Ìý
Infrastructure and manufacturing 1,297Ìý 1,542Ìý
Distributors and converters 1,258Ìý 1,829Ìý
Steel producers
 701Ìý 816Ìý
Total Steelmaking 5,126Ìý 5,794Ìý
Other Businesses:
Automotive 139Ìý 122Ìý
Infrastructure and manufacturing 10Ìý 15Ìý
Distributors and converters 20Ìý 24Ìý
Total Other Businesses 169Ìý 161Ìý
Total revenues $ 5,295Ìý $ 5,955Ìý
The following tables represent our Revenues by product line:
Three Months Ended
March 31,
(In millions) 2023 2022
Steelmaking:
Hot-rolled steel $ 1,121Ìý $ 1,194Ìý
Cold-rolled steel 639Ìý 984Ìý
Coated steel 1,617Ìý 1,775Ìý
Stainless and electrical steel 574Ìý 551Ìý
Plate 331Ìý 421Ìý
Slab and other steel products 327Ìý 334Ìý
Other 517Ìý 535Ìý
Total Steelmaking 5,126Ìý 5,794Ìý
Other Businesses:
Other 169Ìý 161Ìý
Total revenues $ 5,295Ìý $ 5,955Ìý