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Revenue from Contracts with Customers (Tables)

12 Months Ended

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

X

- Definition

Tabular disclosure of contract balances and changes in contract balances.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
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+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
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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

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