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Revenue from Contracts with Customers (Tables)

12 Months Ended

Dec. 31, 2019

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, 2019, 2018 and 2017 were as follows:

(in millions)		2019										2018										2017
		HPMC			FRP			Total				HPMC			FRP			Total				HPMC			FRP			Total
Diversified Global Markets:
Aerospace & Defense		$	1,879.1		$	251.3		$	2,130.4			$	1,771.3		$	194.2		$	1,965.5			$	1,568.9		$	149.2		$	1,718.1
Oil & Gas		64.3			446.3			510.6				74.9			471.3			546.2				63.9			354.3			418.2
Automotive		10.5			286.1			296.6				9.5			313.9			323.4				8.8			264.9			273.7
Energy		156.9			129.4			286.3				131.4			103.1			234.5				113.1			79.1			192.2
Food Equipment & Appliances		0.3			205.5			205.8				0.4			244.5			244.9				1.1			224.9			226.0
Construction/Mining		42.5			152.5			195.0				72.8			153.2			226.0				51.1			141.8			192.9
Medical		159.2			13.2			172.4				168.5			14.6			183.1				170.4			12.6			183.0
Electronics/Computers/Communications		5.8			157.4			163.2				7.9			149.0			156.9				4.4			147.2			151.6
Other		79.5			82.7			162.2				97.5			68.6			166.1				85.7			83.7			169.4
Total		$	2,398.1		$	1,724.4		$	4,122.5			$	2,334.2		$	1,712.4		$	4,046.6			$	2,067.4		$	1,457.7		$	3,525.1

(in millions)		2019										2018										2017
		HPMC			FRP			Total				HPMC			FRP			Total				HPMC			FRP			Total
Primary Geographical Market:
United States		$	1,319.7		$	1,134.9		$	2,454.6			$	1,214.1		$	1,134.0		$	2,348.1			$	1,096.5		$	974.1		$	2,070.6
China		103.0			252.6			355.6				83.1			236.9			320.0				51.1			214.5			265.6
Germany		178.2			41.1			219.3				192.7			54.5			247.2				170.5			46.6			217.1
United Kingdom		164.9			8.9			173.8				232.4			9.7			242.1				220.9			10.7			231.6
France		145.8			9.7			155.5				172.7			10.9			183.6				157.8			7.8			165.6
Japan		104.4			43.3			147.7				136.5			78.4			214.9				95.2			36.5			131.7
Rest of World		382.1			233.9			616.0				302.7			188.0			490.7				275.4			167.5			442.9
Total		$	2,398.1		$	1,724.4		$	4,122.5			$	2,334.2		$	1,712.4		$	4,046.6			$	2,067.4		$	1,457.7		$	3,525.1

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.

		2019							2018							2017
		HPMC		FRP		Total			HPMC		FRP		Total			HPMC		FRP		Total
Diversified Products:
High-Value Products
Nickel-based alloys and specialty alloys		32	%	32	%	32	%		31	%	28	%	30	%		31	%	24	%	28	%
Precision forgings, castings and components		30	%	—	%	18	%		34	%	—	%	20	%		32	%	—	%	19	%
Titanium and titanium-based alloys		28	%	6	%	18	%		25	%	5	%	17	%		26	%	5	%	17	%
Precision and engineered strip		—	%	32	%	13	%		—	%	33	%	14	%		—	%	34	%	14	%
Zirconium and related alloys		10	%	—	%	6	%		10	%	—	%	5	%		11	%	—	%	6	%
Total High-Value Products		100	%	70	%	87	%		100	%	66	%	86	%		100	%	63	%	84	%
Standard Products
Standard stainless products		—	%	30	%	13	%		—	%	34	%	14	%		—	%	37	%	16	%
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, 2019, 2018 and 2017:

(in millions)
Accounts Receivable - Reserve for Doubtful Accounts
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
Expense to increase the reserve	0.2
Write-off of uncollectible accounts	(1.6		)
Balance as of December 31, 2019	$	4.6

Schedule of Contract Assets and Liabilities

The following represents the rollforward of contract assets and liabilities for the fiscal years ended December 31, 2019 and 2018:

(in millions)
Contract Assets
Short-term	2019			2018
Balance as of beginning of fiscal year	$	51.2		$	36.5
Recognized in current year	74.5			92.9
Reclassified to accounts receivable	(79.9		)	(95.8		)
Impairment	—			—
Reclassification to/from long-term	—			16.8
Divestiture	(7.3		)	—
Other	—			0.8
Balance as of period end	$	38.5		$	51.2
Long-term	2019			2018
Balance as of beginning of fiscal year	$	0.1		$	16.9
Recognized in current year	—			—
Reclassified to accounts receivable	—			—
Impairment	—			—
Reclassification to/from short-term	—			(16.8		)
Balance as of period end	$	0.1		$	0.1

(in millions)
Contract Liabilities
Short-term	2019			2018
Balance as of beginning of fiscal year	$	71.4		$	69.7
Recognized in current year	126.1			76.7
Amounts in beginning balance reclassified to revenue	(49.2		)	(49.6		)
Current year amounts reclassified to revenue	(76.0		)	(42.7		)
Other	1.9			2.7
Reclassification to/from long-term	4.5			14.6
Balance as of period end	$	78.7		$	71.4
Long-term	2019			2018
Balance as of beginning of fiscal year	$	7.3		$	22.2
Recognized in current year	24.2			0.7
Amounts in beginning balance reclassified to revenue	(1.1		)	(1.0		)
Current year amounts reclassified to revenue	—			—
Other	—			—
Reclassification to/from short-term	(4.5		)	(14.6		)
Balance as of period end	$	25.9		$	7.3

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- Definition

Tabular disclosure of contract balances and changes in contract balances.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
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Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
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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.

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