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v3.20.1

Revenue from Contracts with Customers (Tables) | 12 Months Ended
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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 | AA&S | Total |  | HPMC | AA&S | Total |  | HPMC | AA&S | Total
Diversified Global Markets: |  |  |  |  |  |  |  |  |  |  |  |
Aerospace & Defense |  | $ | 1,624.1 |  | $ | 506.3 |  | $ | 2,130.4 |  |  | $ | 1,562.9 |  | $ | 402.6 |  | $ | 1,965.5 |  |  | $ | 1,377.0 |  | $ | 341.1 |  | $ | 1,718.1 |
Energy* |  | 153.6 |  | 643.3 |  | 796.9 |  |  | 133.9 |  | 646.8 |  | 780.7 |  |  | 119.7 |  | 490.7 |  | 610.4 |
Automotive |  | 10.5 |  | 286.1 |  | 296.6 |  |  | 9.5 |  | 313.9 |  | 323.4 |  |  | 8.8 |  | 264.9 |  | 273.7 |
Food Equipment & Appliances |  | 0.3 |  | 205.5 |  | 205.8 |  |  | 0.4 |  | 244.5 |  | 244.9 |  |  | 0.4 |  | 225.6 |  | 226.0 |
Construction/Mining |  | 42.5 |  | 152.5 |  | 195.0 |  |  | 72.7 |  | 153.3 |  | 226.0 |  |  | 51.2 |  | 141.7 |  | 192.9 |
Medical |  | 85.4 |  | 87.0 |  | 172.4 |  |  | 106.0 |  | 77.1 |  | 183.1 |  |  | 81.1 |  | 101.9 |  | 183.0 |
Electronics/Computers/Communications |  | 0.5 |  | 162.7 |  | 163.2 |  |  | 1.5 |  | 155.4 |  | 156.9 |  |  | 1.0 |  | 150.6 |  | 151.6 |
Other |  | 61.6 |  | 100.6 |  | 162.2 |  |  | 76.2 |  | 89.9 |  | 166.1 |  |  | 65.6 |  | 103.8 |  | 169.4 |
Total |  | $ | 1,978.5 |  | $ | 2,144.0 |  | $ | 4,122.5 |  |  | $ | 1,963.1 |  | $ | 2,083.5 |  | $ | 4,046.6 |  |  | $ | 1,704.8 |  | $ | 1,820.3 |  | $ | 3,525.1 |
*Includes the oil & gas, hydrocarbon and chemical processing, and electrical energy markets.
(in millions) |  | 2019 |  | 2018 |  | 2017
|  | HPMC | AA&S | Total |  | HPMC | AA&S | Total |  | HPMC | AA&S | Total
Primary Geographical Market: |  |  |  |  |  |  |  |  |  |
United States |  | $ | 1,042.6 |  | $ | 1,412.0 |  | $ | 2,454.6 |  |  | $ | 983.6 |  | $ | 1,364.5 |  | $ | 2,348.1 |  |  | $ | 874.3 |  | $ | 1,196.3 |  | $ | 2,070.6 |
China |  | 93.9 |  | 261.7 |  | 355.6 |  |  | 71.2 |  | 248.8 |  | 320.0 |  |  | 44.3 |  | 221.3 |  | 265.6 |
Germany |  | 147.2 |  | 72.1 |  | 219.3 |  |  | 159.0 |  | 88.2 |  | 247.2 |  |  | 131.9 |  | 85.2 |  | 217.1 |
United Kingdom |  | 156.7 |  | 17.1 |  | 173.8 |  |  | 225.6 |  | 16.5 |  | 242.1 |  |  | 200.8 |  | 30.8 |  | 231.6 |
France |  | 132.7 |  | 22.8 |  | 155.5 |  |  | 146.3 |  | 37.3 |  | 183.6 |  |  | 143.3 |  | 22.3 |  | 165.6 |
Japan |  | 95.0 |  | 52.7 |  | 147.7 |  |  | 128.1 |  | 86.8 |  | 214.9 |  |  | 88.5 |  | 43.2 |  | 131.7 |
Rest of World |  | 310.4 |  | 305.6 |  | 616.0 |  |  | 249.3 |  | 241.4 |  | 490.7 |  |  | 221.7 |  | 221.2 |  | 442.9 |
Total |  | $ | 1,978.5 |  | $ | 2,144.0 |  | $ | 4,122.5 |  |  | $ | 1,963.1 |  | $ | 2,083.5 |  | $ | 4,046.6 |  |  | $ | 1,704.8 |  | $ | 1,820.3 |  | $ | 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. Hot-Rolling and Processing Facility conversion service sales in the AA&S segment are excluded from this presentation.
|  | 2019 |  | 2018 |  | 2017
|  | HPMC | AA&S | Total |  | HPMC | AA&S | Total |  | HPMC | AA&S | Total
Diversified Products: |  |  |  |  |  |  |  |  |  |  |  |
High-Value Products |  |  |  |  |  |  |  |  |  |  |  |
Nickel-based alloys and specialty alloys |  | 38 | % | 27 | % | 32 | % |  | 37 | % | 24 | % | 30 | % |  | 37 | % | 20 | % | 28 | %
Precision forgings, castings and components |  | 36 | % | — | % | 18 | % |  | 40 | % | — | % | 20 | % |  | 38 | % | — | % | 19 | %
Titanium and titanium-based alloys |  | 26 | % | 11 | % | 18 | % |  | 23 | % | 10 | % | 17 | % |  | 25 | % | 10 | % | 17 | %
Precision rolled strip products |  | — | % | 23 | % | 12 | % |  | — | % | 23 | % | 12 | % |  | — | % | 24 | % | 12 | %
Zirconium and related alloys |  | — | % | 11 | % | 6 | % |  | — | % | 11 | % | 5 | % |  | — | % | 12 | % | 6 | %
Total High-Value Products |  | 100 | % | 72 | % | 86 | % |  | 100 | % | 68 | % | 84 | % |  | 100 | % | 66 | % | 82 | %
Standard Products |  |  |  |  |  |  |  |  |  |  |  |
Standard stainless products |  | — | % | 28 | % | 14 | % |  | — | % | 32 | % | 16 | % |  | — | % | 34 | % | 18 | %
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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