AG真人平台AG真人试玩

Quarterly report pursuant to Section 13 or 15(d)

REVENUES

v3.21.2
REVENUES
 6 Months Ended
Jun. 30, 2021
Revenue from Contract with Customer [Abstract] 听
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.
Prior to the AM USA Transaction, we had a supply agreement with ArcelorMittal USA, which included supplemental revenue or refunds based on the HRC price in the year the iron ore was consumed in ArcelorMittal USA's blast furnaces. As control transferred prior to consumption, the supplemental revenue was recorded in accordance with Topic 815. All sales occurring subsequent to the AM USA Transaction are intercompany and eliminated in consolidation. Included within Revenues related to Topic 815 for the supplemental revenue portion of the supply agreement is derivative revenue of $31 million and $6听million for the three and six months ended June听30, 2020, respectively.
The following table represents our Revenues by market:
(In Millions)
Three Months Ended
June 30,		 Six Months Ended
June 30,
2021 2020 2021 2020
AG真人平台AG真人试玩making:
Automotive $ 1,130听 $ 309听 $ 2,428听 $ 411听
Infrastructure and manufacturing 1,312听 191听 2,286听 230听
Distributors and converters 1,948听 139听 3,225听 191听
AG真人平台AG真人试玩 producers
 532听 384听 902 528听
Total AG真人平台AG真人试玩making 4,922听 1,023听 8,841听 1,360听
Other Businesses:
Automotive 96听 49听 201听 65听
Infrastructure and manufacturing 11听 13听 21听 17听
Distributors and converters 16听 8听 31听 10听
Total Other Businesses 123听 70听 253听 92听
Total revenues $ 5,045听 $ 1,093听 $ 9,094听 $ 1,452听
The following tables represent our Revenues by product line:
(Dollars in Millions, Sales Volumes in Thousands)
Three Months Ended June 30,
2021 2020
Revenue
Volume1
Revenue
Volume1
AG真人平台AG真人试玩making:
Hot-rolled steel $ 1,485听 1,386听 $ 42听 63听
Cold-rolled steel 773听 720听 88听 123听
Coated steel 1,379听 1,247听 301听 333听
Stainless and electrical steel 397听 168听 208听 95听
Plate steel 321听 273听 鈥斕� 鈥斕�
Other steel products 345听 411听 鈥斕� 鈥斕�
Iron products 155听 849听 377听 3,718听
Other 67听 N/A 7听 N/A
Total AG真人平台AG真人试玩making 4,922听 1,023听
Other Businesses:
Other 123听 N/A 70听 N/A
Total revenues $ 5,045听 $ 1,093听
1 All steel product volumes are stated in net tons. Iron product volumes are stated in long tons.
(Dollars in Millions, Sales Volumes in Thousands)
Six Months Ended June 30,
2021 2020
Revenue
Volume1
Revenue
Volume1
AG真人平台AG真人试玩making:
Hot-rolled steel $ 2,404听 2,568听 $ 61听 94听
Cold-rolled steel 1,417听 1,468听 116听 163听
Coated steel 2,703听 2,616听 391听 432听
Stainless and electrical steel 760听 335听 264听 122听
Plate steel 572听 548听 鈥斕� 鈥斕�
Other steel products 635听 814听 鈥斕� 鈥斕�
Iron products 225听 1,449听 519听 5,069听
Other 125听 N/A 9听 N/A
Total steelmaking 8,841听 1,360听
Other Businesses:
Other 253听 N/A 92听 N/A
Total revenues $ 9,094听 $ 1,452听
1 All steel product volumes are stated in net tons. Iron product volumes are stated in long tons.