XML 36 R10.htm IDEA: XBRL DOCUMENT v3.23.3
REVENUES
 9 Months Ended
Sep. 30, 2023
Revenue from Contract with Customer [Abstract]  
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)2023202220232022
Steelmaking:
Automotive$1,958 $1,734 $5,808 $4,985 
Infrastructure and manufacturing1,427 1,462 4,315 4,619 
Distributors and converters1,321 1,468 4,020 5,137 
Steel producers
737 847 2,234 2,740 
Total Steelmaking5,443 5,511 16,377 17,481 
Other Businesses:
Automotive133 113 415 359 
Infrastructure and manufacturing9 14 29 43 
Distributors and converters20 15 63 62 
Total Other Businesses162 142 507 464 
Total revenues$5,605 $5,653 $16,884 $17,945 
The following tables represent our Revenues by product line:
Three Months Ended
September 30,		Nine Months Ended
September 30,
(In millions)2023202220232022
Steelmaking:
Hot-rolled steel$1,269 $1,050 $3,747 $3,495 
Cold-rolled steel651 740 2,038 2,593 
Coated steel1,748 1,757 5,154 5,338 
Stainless and electrical steel568 596 1,757 1,765 
Plate382 432 1,112 1,306 
Slab and other steel products322 370 1,015 1,121 
Other503 566 1,554 1,863 
Total Steelmaking5,443 5,511 16,377 17,481 
Other Businesses:
Other162 142 507 464 
Total revenues$5,605 $5,653 $16,884 $17,945