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Revenue from Contracts with Customers (Tables)

3 Months Ended

Mar. 31, 2021

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 first quarters ended March 31, 2021 and 2020 were as follows:

(in millions)						First quarter ended
						March 31, 2021												March 31, 2020
						HPMC			AA&S			Total						HPMC			AA&S			Total
Diversified Global Markets:
Aerospace & Defense						$	179.8		$	74.4		$	254.2					$	358.8		$	133.7		$	492.5
Energy*						30.5			118.6			149.1						24.1			146.5			170.6
Automotive						2.0			89.5			91.5						2.0			74.5			76.5
Electronics						0.3			55.3			55.6						0.3			32.9			33.2
Construction/Mining						5.1			37.4			42.5						5.3			38.3			43.6
Food Equipment & Appliances						—			35.4			35.4						—			50.4			50.4
Medical						11.2			17.8			29.0						17.0			21.6			38.6
Other						12.0			23.2			35.2						12.8			37.3			50.1
Total						$	240.9		$	451.6		$	692.5					$	420.3		$	535.2		$	955.5

*Includes the oil & gas, downstream processing, and specialty energy markets.

(in millions)						First quarter ended
						March 31, 2021												March 31, 2020
						HPMC			AA&S			Total						HPMC			AA&S			Total
Primary Geographical Market:
United States						$	128.3		$	271.6		$	399.9					$	227.3		$	378.8		$	606.1
Asia						20.1			122.6			142.7						25.1			94.2			119.3
Europe						79.1			34.0			113.1						133.5			37.6			171.1
Canada						8.2			9.1			17.3						11.6			10.4			22.0
South America, Middle East and other						5.2			14.3			19.5						22.8			14.2			37.0
Total						$	240.9		$	451.6		$	692.5					$	420.3		$	535.2		$	955.5

Comparative information of the Company’s major high-value and standard products based on their percentages of sales is included in the following table. In conjunction with the Company’s announced ongoing exit of standard stainless products, ATI reclassified certain items as High-Value Products within AA&S segment results. Prior period information reflects these reclassifications. Hot-Rolling and Processing Facility conversion service sales in the AA&S segment are excluded from this presentation.

						First quarter ended
						March 31, 2021												March 31, 2020
						HPMC			AA&S			Total						HPMC			AA&S			Total
Diversified Products and Services:
High-Value Products
Nickel-based alloys and specialty alloys						36		%	28		%	31		%				40		%	31		%	35		%
Precision rolled strip products						—		%	31		%	20		%				—		%	22		%	12		%
Precision forgings, castings and components						43		%	—		%	15		%				35		%	—		%	16		%
Titanium and titanium-based alloys						21		%	7		%	12		%				25		%	11		%	18		%
Zirconium and related alloys						—		%	15		%	10		%				—		%	13		%	7		%
Total High-Value Products						100		%	81		%	88		%				100		%	77		%	88		%
Standard Products
Standard stainless products						—		%	19		%	12		%				—		%	23		%	12		%
Total						100		%	100		%	100		%				100		%	100		%	100		%

Schedule of Accounts Receivable - Reserve for Doubtful Accounts

(in millions)
Accounts Receivable - Reserve for Doubtful Accounts			March 31, 2021			March 31, 2020
Balance as of beginning of fiscal year			$	4.3		$	4.6
Expense to increase the reserve			0.2			0.1
Write-off of uncollectible accounts			(0.3)			(0.3)
Balance as of period end			$	4.2		$	4.4

Schedule of Contract Assets and Liabilities

(in millions)
Contract Assets
Short-term			March 31, 2021			March 31, 2020
Balance as of beginning of fiscal year			$	38.9		$	38.5
Recognized in current year			25.7			25.1
Reclassified to accounts receivable			(19.1)			(20.2)
Impairment			—			—
Reclassification to/from contract liability			(3.5)			—
Divestiture			—			0.1
Balance as of period end			$	42.0		$	43.5
Long-term			March 31, 2021			March 31, 2020
Balance as of beginning of fiscal year			$	—		$	0.1
Recognized in current year			—			—
Reclassified to accounts receivable			—			—
Impairment			—			—
Reclassification to/from short-term			—			(0.1)
Balance as of period end			$	—		$	—

(in millions)
Contract Liabilities
Short-term			March 31, 2021			March 31, 2020
Balance as of beginning of fiscal year			$	111.8		$	78.7
Recognized in current year			57.1			71.7
Amounts in beginning balance reclassified to revenue			(43.0)			(22.1)
Current year amounts reclassified to revenue			(4.0)			(17.1)
Other			—			(0.3)
Reclassification to/from long-term and contract asset			(3.2)			3.4
Balance as of period end			$	118.7		$	114.3
Long-term			March 31, 2021			March 31, 2020
Balance as of beginning of fiscal year			$	32.0		$	25.9
Recognized in current year			24.3			7.4
Amounts in beginning balance reclassified to revenue			(0.3)			(0.2)
Current year amounts reclassified to revenue			—			—
Other			—			—
Reclassification to/from short-term			(0.3)			(3.4)
Balance as of period end			$	55.7		$	29.7

X

- Definition

Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130551-203045

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Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor.

+ 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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- 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.

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