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Quarterly report [Sections 13 or 15(d)]

REVENUES

v3.25.1
REVENUES
 3 Months Ended
Mar. 31, 2025
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:
Three Months Ended
March 31,
(In millions) 2025 2024
Steelmaking:
Direct automotive $ 1,297Ìý $ 1,617Ìý
Infrastructure and manufacturing 1,354Ìý 1,392Ìý
Distributors and converters 1,228Ìý 1,412Ìý
Steel producers
 588Ìý 606Ìý
Total Steelmaking 4,467Ìý 5,027Ìý
Other Businesses:
Direct automotive 130Ìý 140Ìý
Infrastructure and manufacturing 10Ìý 10Ìý
Distributors and converters 22Ìý 22Ìý
Total Other Businesses 162Ìý 172Ìý
Total revenues $ 4,629Ìý $ 5,199Ìý
The following tables represent our Revenues by product line:
Three Months Ended
March 31,
(In millions) 2025 2024
Steelmaking:
Hot-rolled steel $ 1,166Ìý $ 1,128Ìý
Cold-rolled steel 591Ìý 749Ìý
Coated steel 1,361Ìý 1,623Ìý
Stainless and electrical steel 444Ìý 461Ìý
Plate 247Ìý 333Ìý
Slab and other steel products 247Ìý 335Ìý
Other 411Ìý 398Ìý
Total Steelmaking 4,467Ìý 5,027Ìý
Other Businesses:
Other 162Ìý 172Ìý
Total revenues $ 4,629Ìý $ 5,199Ìý