AG真人平台AG真人试玩

Quarterly report pursuant to Section 13 or 15(d)

REVENUES

v3.21.2
REVENUES
 9 Months Ended
Sep. 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 $9 million and $14听million for the three and nine months ended September听30, 2020, respectively.
The following table represents our Revenues by market:
(In Millions)
Three Months Ended
September 30,		 Nine Months Ended
September 30,
2021 2020 2021 2020
AG真人平台AG真人试玩making:
Automotive $ 1,149听 $ 790听 $ 3,577听 $ 1,201听
Infrastructure and manufacturing 1,603听 190听 3,889听 420听
Distributors and converters 2,447听 135听 5,672听 326听
AG真人平台AG真人试玩 producers
 670听 391听 1,572 919听
Total AG真人平台AG真人试玩making 5,869听 1,506听 14,710听 2,866听
Other Businesses:
Automotive 105听 123听 306听 188听
Infrastructure and manufacturing 12听 9听 33听 26听
Distributors and converters 18听 8听 49听 18听
Total Other Businesses 135听 140听 388听 232听
Total revenues $ 6,004听 $ 1,646听 $ 15,098听 $ 3,098听
The following tables represent our Revenues by product line:
(Dollars in Millions, Sales Volumes in Thousands)
Three Months Ended September 30,
2021 2020
Revenue
Volume1
Revenue
Volume1
AG真人平台AG真人试玩making:
Hot-rolled steel $ 1,800听 1,332听 $ 89听 134听
Cold-rolled steel 935听 728听 126听 179听
Coated steel 1,635听 1,291听 604听 656听
Stainless and electrical steel 441听 177听 296听 146听
Plate steel 357听 244听 鈥斕� 鈥斕�
Other steel products 374听 381听 鈥斕� 鈥斕�
Iron products 252听 1,426听 384听 3,703听
Other 75听 N/A 7听 N/A
Total AG真人平台AG真人试玩making 5,869听 1,506听
Other Businesses:
Other 135听 N/A 140听 N/A
Total revenues $ 6,004听 $ 1,646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)
Nine Months Ended September 30,
2021 2020
Revenue
Volume1
Revenue
Volume1
AG真人平台AG真人试玩making:
Hot-rolled steel $ 4,204听 3,900听 $ 150听 228听
Cold-rolled steel 2,352听 2,196听 242听 342听
Coated steel 4,338听 3,907听 995听 1,088听
Stainless and electrical steel 1,201听 512听 560听 268听
Plate steel 929听 792听 鈥斕� 鈥斕�
Other steel products 1,009听 1,195听 鈥斕� 鈥斕�
Iron products 477听 2,875听 903听 8,772听
Other 200听 N/A 16听 N/A
Total steelmaking 14,710听 2,866听
Other Businesses:
Other 388听 N/A 232听 N/A
Total revenues $ 15,098听 $ 3,098听
1 All steel product volumes are stated in net tons. Iron product volumes are stated in long tons.