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Quarterly report pursuant to Section 13 or 15(d)

REVENUES

v3.23.2
REVENUES
 6 Months Ended
Jun. 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
June 30,		 Six Months Ended
June 30,
(In millions) 2023 2022 2023 2022
Steelmaking:
Automotive $ 1,980Ìý $ 1,644Ìý $ 3,850Ìý $ 3,251Ìý
Infrastructure and manufacturing 1,591Ìý 1,615Ìý 2,888Ìý 3,157Ìý
Distributors and converters 1,441Ìý 1,840Ìý 2,699Ìý 3,669Ìý
Steel producers
 796Ìý 1,077Ìý 1,497Ìý 1,893Ìý
Total Steelmaking 5,808Ìý 6,176Ìý 10,934Ìý 11,970Ìý
Other Businesses:
Automotive 143Ìý 124Ìý 282Ìý 246Ìý
Infrastructure and manufacturing 10Ìý 14Ìý 20Ìý 29Ìý
Distributors and converters 23Ìý 23Ìý 43Ìý 47Ìý
Total Other Businesses 176Ìý 161Ìý 345Ìý 322Ìý
Total revenues $ 5,984Ìý $ 6,337Ìý $ 11,279Ìý $ 12,292Ìý
The following tables represent our Revenues by product line:
Three Months Ended
June 30,		 Six Months Ended
June 30,
(In millions) 2023 2022 2023 2022
Steelmaking:
Hot-rolled steel $ 1,357Ìý $ 1,251Ìý $ 2,478Ìý $ 2,445Ìý
Cold-rolled steel 748Ìý 869Ìý 1,387Ìý 1,853Ìý
Coated steel 1,789Ìý 1,806Ìý 3,406Ìý 3,581Ìý
Stainless and electrical steel 615Ìý 618Ìý 1,189Ìý 1,169Ìý
Plate 399Ìý 453Ìý 730Ìý 874Ìý
Slab and other steel products 366Ìý 417Ìý 693Ìý 751Ìý
Other 534Ìý 762Ìý 1,051Ìý 1,297Ìý
Total Steelmaking 5,808Ìý 6,176Ìý 10,934Ìý 11,970Ìý
Other Businesses:
Other 176Ìý 161Ìý 345Ìý 322Ìý
Total revenues $ 5,984Ìý $ 6,337Ìý $ 11,279Ìý $ 12,292Ìý