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Revenue from Contracts with Customers (Tables) | 12 Months Ended
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Dec. 31, 2018
Revenue from Contract with Customer [Abstract] |
Schedule of Disaggregation of Revenue | Comparative information of the Company’s overall revenues (in millions) by global and geographical markets for the fiscal years ended December 31, 2018, 2017 and 2016 were as follows:
(in millions) |  | 2018 |  | 2017 |  | 2016
|  | HPMC | FRP | Total |  | HPMC | FRP | Total |  | HPMC | FRP | Total
Diversified Global Markets: |  |  |  |  |  |  |  |  |  |  |  |
Aerospace & Defense |  | $ | 1,771.3 |  | $ | 194.2 |  | $ | 1,965.5 |  |  | $ | 1,568.9 |  | $ | 149.2 |  | $ | 1,718.1 |  |  | $ | 1,439.2 |  | $ | 151.2 |  | $ | 1,590.4 |
Oil & Gas |  | 74.9 |  | 471.3 |  | 546.2 |  |  | 63.9 |  | 354.3 |  | 418.2 |  |  | 46.5 |  | 234.3 |  | 280.8 |
Automotive |  | 9.5 |  | 313.9 |  | 323.4 |  |  | 8.8 |  | 264.9 |  | 273.7 |  |  | 7.6 |  | 225.2 |  | 232.8 |
Food Equipment & Appliances |  | 0.4 |  | 244.5 |  | 244.9 |  |  | 1.1 |  | 224.9 |  | 226.0 |  |  | 1.8 |  | 170.4 |  | 172.2 |
Electrical Energy |  | 131.4 |  | 103.1 |  | 234.5 |  |  | 113.1 |  | 79.1 |  | 192.2 |  |  | 129.1 |  | 103.5 |  | 232.6 |
Construction/Mining |  | 72.8 |  | 153.2 |  | 226.0 |  |  | 51.1 |  | 141.8 |  | 192.9 |  |  | 36.7 |  | 123.9 |  | 160.6 |
Medical |  | 168.5 |  | 14.6 |  | 183.1 |  |  | 170.4 |  | 12.6 |  | 183.0 |  |  | 185.3 |  | 10.5 |  | 195.8 |
Electronics/Computers/Communications |  | 7.9 |  | 149.0 |  | 156.9 |  |  | 4.4 |  | 147.2 |  | 151.6 |  |  | 3.4 |  | 106.3 |  | 109.7 |
Other |  | 97.5 |  | 68.6 |  | 166.1 |  |  | 85.7 |  | 83.7 |  | 169.4 |  |  | 80.8 |  | 78.9 |  | 159.7 |
Total |  | $ | 2,334.2 |  | $ | 1,712.4 |  | $ | 4,046.6 |  |  | $ | 2,067.4 |  | $ | 1,457.7 |  | $ | 3,525.1 |  |  | $ | 1,930.4 |  | $ | 1,204.2 |  | $ | 3,134.6 |
(in millions) |  | 2018 |  | 2017 |  | 2016
|  | HPMC | FRP | Total |  | HPMC | FRP | Total |  | HPMC | FRP | Total
Primary Geographical Market: |  |  |  |  |  |  |  |  |  |
United States |  | $ | 1,214.1 |  | $ | 1,134.0 |  | $ | 2,348.1 |  |  | $ | 1,096.5 |  | $ | 974.1 |  | $ | 2,070.6 |  |  | $ | 1,057.3 |  | $ | 800.2 |  | $ | 1,857.5 |
China |  | 83.1 |  | 236.9 |  | 320.0 |  |  | 51.1 |  | 214.5 |  | 265.6 |  |  | 57.8 |  | 156.3 |  | 214.1 |
Germany |  | 192.7 |  | 54.5 |  | 247.2 |  |  | 170.5 |  | 46.6 |  | 217.1 |  |  | 137.4 |  | 40.3 |  | 177.7 |
United Kingdom |  | 232.4 |  | 9.7 |  | 242.1 |  |  | 220.9 |  | 10.7 |  | 231.6 |  |  | 171.1 |  | 12.7 |  | 183.8 |
Japan |  | 136.5 |  | 78.4 |  | 214.9 |  |  | 95.2 |  | 36.5 |  | 131.7 |  |  | 113.4 |  | 38.5 |  | 151.9 |
France |  | 172.7 |  | 10.9 |  | 183.6 |  |  | 157.8 |  | 7.8 |  | 165.6 |  |  | 134.9 |  | 7.7 |  | 142.6 |
Rest of World |  | 302.7 |  | 188.0 |  | 490.7 |  |  | 275.4 |  | 167.5 |  | 442.9 |  |  | 258.5 |  | 148.5 |  | 407.0 |
Total |  | $ | 2,334.2 |  | $ | 1,712.4 |  | $ | 4,046.6 |  |  | $ | 2,067.4 |  | $ | 1,457.7 |  | $ | 3,525.1 |  |  | $ | 1,930.4 |  | $ | 1,204.2 |  | $ | 3,134.6 |
Comparative information of the Company’s major high-value and standard products based on their percentages of sales is included in the following table. FRP conversion services are excluded from this presentation.
|  | 2018 |  | 2017 |  | 2016
|  | HPMC | FRP | Total |  | HPMC | FRP | Total |  | HPMC | FRP | Total
Diversified Products: |  |  |  |  |  |  |  |  |  |  |  |
High-Value Products |  |  |  |  |  |  |  |  |  |  |  |
Nickel-based alloys and specialty alloys |  | 31 | % | 28 | % | 30 | % |  | 31 | % | 24 | % | 28 | % |  | 29 | % | 25 | % | 28 | %
Precision forgings, castings and components |  | 34 | % | — | % | 20 | % |  | 32 | % | — | % | 19 | % |  | 29 | % | — | % | 18 | %
Titanium and titanium-based alloys |  | 25 | % | 5 | % | 17 | % |  | 26 | % | 5 | % | 17 | % |  | 29 | % | 4 | % | 20 | %
Precision and engineered strip |  | — | % | 33 | % | 14 | % |  | — | % | 34 | % | 14 | % |  | — | % | 36 | % | 13 | %
Zirconium and related alloys |  | 10 | % | — | % | 5 | % |  | 11 | % | — | % | 6 | % |  | 13 | % | — | % | 8 | %
Total High-Value Products |  | 100 | % | 66 | % | 86 | % |  | 100 | % | 63 | % | 84 | % |  | 100 | % | 65 | % | 87 | %
Standard Products |  |  |  |  |  |  |  |  |  |  |  |
Stainless steel sheet |  | — | % | 20 | % | 8 | % |  | — | % | 21 | % | 9 | % |  | — | % | 19 | % | 7 | %
Specialty stainless sheet |  | — | % | 10 | % | 4 | % |  | — | % | 12 | % | 5 | % |  | — | % | 11 | % | 4 | %
Stainless steel plate and other |  | — | % | 4 | % | 2 | % |  | — | % | 4 | % | 2 | % |  | — | % | 5 | % | 2 | %
Total Standard Products |  | — | % | 34 | % | 14 | % |  | — | % | 37 | % | 16 | % |  | — | % | 35 | % | 13 | %
Total |  | 100 | % | 100 | % | 100 | % |  | 100 | % | 100 | % | 100 | % |  | 100 | % | 100 | % | 100 | %
Schedule of Accounts Receivable - Reserve for Doubtful Accounts | The following represents the rollforward of accounts receivable - reserve for doubtful accounts for the fiscal years ended December 31, 2018, 2017 and 2016:
(in millions)
Accounts Receivable - Reserve for Doubtful Accounts
Balance as of December 31, 2015 | $ | 4.5 |
Expense to increase the reserve | 4.8 |
Write-off of uncollectible accounts | (2.0 | )
Balance as of December 31, 2016 | 7.3 |
Expense to increase the reserve | 0.1 |
Write-off of uncollectible accounts | (1.5 | )
Balance as of December 31, 2017 | 5.9 |
Expense to increase the reserve | 1.9 |
Write-off of uncollectible accounts | (1.8 | )
Balance as of December 31, 2018 | $ | 6.0 |
Schedule of Contract Assets and Liabilities | The following represents the rollforward of contract assets and liabilities for the fiscal year ended December 31, 2018:
(in millions)
Contract Assets
Short-term
Balance as of January 1, 2018 | $ | 36.5 |
Recognized in current year | 92.9 |
Reclassified to accounts receivable | (95.8 | )
Impairment | — |
Reclassification to/from long-term | 16.8 |
Other | 0.8 |
Balance as of December 31, 2018 | $ | 51.2 |
Long-term
Balance as of January 1, 2018 | $ | 16.9 |
Recognized in current year | — |
Reclassified to accounts receivable | — |
Impairment | — |
Reclassification to/from short-term | (16.8 | )
Balance as of December 31, 2018 | $ | 0.1 |
(in millions)
Contract Liabilities
Short-term
Balance as of January 1, 2018 | $ | 69.7 |
Recognized in current year | 76.7 |
Amounts in beginning balance reclassified to revenue | (49.6 | )
Current year amounts reclassified to revenue | (42.7 | )
Other | 2.7 |
Reclassification to/from long-term | 14.6 |
Balance as of December 31, 2018 | $ | 71.4 |
Long-term
Balance as of January 1, 2018 | $ | 22.2 |
Recognized in current year | 0.7 |
Amounts in beginning balance reclassified to revenue | (1.0 | )
Current year amounts reclassified to revenue | — |
Other | — |
Reclassification to/from short-term | (14.6 | )
Balance as of December 31, 2018 | $ | 7.3 |

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- Definition Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.3,4) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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