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v3.21.2

Revenue from Contracts with Customers (Tables) | 6 Months Ended
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Jun. 30, 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 second quarters and six months ended June 30, 2021 and 2020 were as follows:
(in millions) |  | Second quarter ended
|  | June 30, 2021 |  | June 30, 2020
|  | HPMC | AA&S | Total |  | HPMC | AA&S | Total
Diversified Global Markets: |  |  |  |  |  |  |  |
Aerospace & Defense |  | $ | 218.6 |  | $ | 62.6 |  | $ | 281.2 |  |  | $ | 252.3 |  | $ | 113.3 |  | $ | 365.6 |
Energy* |  | 48.6 |  | 69.7 |  | 118.3 |  |  | 22.8 |  | 144.7 |  | 167.5 |
Automotive |  | 1.4 |  | 66.6 |  | 68.0 |  |  | 1.0 |  | 49.8 |  | 50.8 |
Electronics |  | 0.2 |  | 43.1 |  | 43.3 |  |  | 0.2 |  | 39.3 |  | 39.5 |
Medical |  | 14.6 |  | 17.4 |  | 32.0 |  |  | 10.3 |  | 19.6 |  | 29.9 |
Construction/Mining |  | 6.1 |  | 15.8 |  | 21.9 |  |  | 5.0 |  | 29.8 |  | 34.8 |
Food Equipment & Appliances |  | 0.1 |  | 20.6 |  | 20.7 |  |  | 0.1 |  | 47.1 |  | 47.2 |
Other |  | 11.0 |  | 19.8 |  | 30.8 |  |  | 9.0 |  | 26.0 |  | 35.0 |
Total |  | $ | 300.6 |  | $ | 315.6 |  | $ | 616.2 |  |  | $ | 300.7 |  | $ | 469.6 |  | $ | 770.3 |
(in millions) |  | Six months ended
|  | June 30, 2021 |  | June 30, 2020
|  | HPMC | AA&S | Total |  | HPMC | AA&S | Total
Diversified Global Markets: |  |  |  |  |  |  |  |
Aerospace & Defense |  | $ | 398.4 |  | $ | 137.0 |  | $ | 535.4 |  |  | $ | 611.1 |  | $ | 247.0 |  | $ | 858.1 |
Energy* |  | 79.1 |  | 188.3 |  | 267.4 |  |  | 46.9 |  | 291.2 |  | 338.1 |
Automotive |  | 3.4 |  | 156.1 |  | 159.5 |  |  | 3.0 |  | 124.3 |  | 127.3 |
Electronics |  | 0.5 |  | 98.4 |  | 98.9 |  |  | 0.5 |  | 72.2 |  | 72.7 |
Construction/Mining |  | 11.2 |  | 53.2 |  | 64.4 |  |  | 10.3 |  | 68.1 |  | 78.4 |
Medical |  | 25.8 |  | 35.2 |  | 61.0 |  |  | 27.3 |  | 41.2 |  | 68.5 |
Food Equipment & Appliances |  | 0.1 |  | 56.0 |  | 56.1 |  |  | 0.1 |  | 97.5 |  | 97.6 |
Other |  | 23.0 |  | 43.0 |  | 66.0 |  |  | 21.8 |  | 63.3 |  | 85.1 |
Total |  | $ | 541.5 |  | $ | 767.2 |  | $ | 1,308.7 |  |  | $ | 721.0 |  | $ | 1,004.8 |  | $ | 1,725.8 |
*Includes the oil & gas, downstream processing, and specialty energy markets.
(in millions) |  | Second quarter ended
|  | June 30, 2021 |  | June 30, 2020
|  | HPMC | AA&S | Total |  | HPMC | AA&S | Total
Primary Geographical Market: |  |  |  |  |  |  |  |
United States |  | $ | 157.6 |  | $ | 172.1 |  | $ | 329.7 |  |  | $ | 166.2 |  | $ | 311.0 |  | $ | 477.2 |
Asia |  | 40.6 |  | 94.7 |  | 135.3 |  |  | 27.6 |  | 91.1 |  | 118.7 |
Europe |  | 86.3 |  | 27.1 |  | 113.4 |  |  | 92.0 |  | 32.4 |  | 124.4 |
Canada |  | 9.3 |  | 10.7 |  | 20.0 |  |  | 5.1 |  | 11.1 |  | 16.2 |
South America, Middle East and other |  | 6.8 |  | 11.0 |  | 17.8 |  |  | 9.8 |  | 24.0 |  | 33.8 |
Total |  | $ | 300.6 |  | $ | 315.6 |  | $ | 616.2 |  |  | $ | 300.7 |  | $ | 469.6 |  | $ | 770.3 |
(in millions) |  | Six months ended
|  | June 30, 2021 |  | June 30, 2020
|  | HPMC | AA&S | Total |  | HPMC | AA&S | Total
Primary Geographical Market: |  |  |  |  |  |  |  |
United States |  | $ | 285.9 |  | $ | 443.7 |  | $ | 729.6 |  |  | $ | 393.5 |  | $ | 689.8 |  | $ | 1,083.3 |
Asia |  | 60.7 |  | 217.3 |  | 278.0 |  |  | 52.7 |  | 185.3 |  | 238.0 |
Europe |  | 165.4 |  | 61.1 |  | 226.5 |  |  | 225.5 |  | 70.0 |  | 295.5 |
Canada |  | 17.5 |  | 19.8 |  | 37.3 |  |  | 16.7 |  | 21.5 |  | 38.2 |
South America, Middle East and other |  | 12.0 |  | 25.3 |  | 37.3 |  |  | 32.6 |  | 38.2 |  | 70.8 |
Total |  | $ | 541.5 |  | $ | 767.2 |  | $ | 1,308.7 |  |  | $ | 721.0 |  | $ | 1,004.8 |  | $ | 1,725.8 |
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 sheet products, in the fourth quarter of 2020 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.
|  | Second quarter ended
|  | June 30, 2021 |  | June 30, 2020
|  | HPMC | AA&S | Total |  | HPMC | AA&S | Total
Diversified Products and Services: |  |  |  |  |  |  |  |
High-Value Products |  |  |  |  |  |  |  |
Nickel-based alloys and specialty alloys |  | 45 | % | 21 | % | 33 | % |  | 36 | % | 32 | % | 34 | %
Precision rolled strip products |  | — | % | 39 | % | 19 | % |  | — | % | 20 | % | 12 | %
Precision forgings, castings and components |  | 36 | % | — | % | 18 | % |  | 35 | % | — | % | 14 | %
Titanium and titanium-based alloys |  | 19 | % | 6 | % | 13 | % |  | 29 | % | 13 | % | 19 | %
Zirconium and related alloys |  | — | % | 24 | % | 12 | % |  | — | % | 14 | % | 8 | %
Total High-Value Products |  | 100 | % | 90 | % | 95 | % |  | 100 | % | 79 | % | 87 | %
Standard Products |  |  |  |  |  |  |  |
Standard stainless products |  | — | % | 10 | % | 5 | % |  | — | % | 21 | % | 13 | %
Total |  | 100 | % | 100 | % | 100 | % |  | 100 | % | 100 | % | 100 | %
|  | Six months ended
|  | June 30, 2021 |  | June 30, 2020
|  | HPMC | AA&S | Total |  | HPMC | AA&S | Total
Diversified Products and Services: |  |  |  |  |  |  |  |
High-Value Products |  |  |  |  |  |  |  |
Nickel-based alloys and specialty alloys |  | 41 | % | 25 | % | 32 | % |  | 38 | % | 28 | % | 34 | %
Precision rolled strip products |  | — | % | 35 | % | 20 | % |  | — | % | 18 | % | 12 | %
Precision forgings, castings and components |  | 39 | % | — | % | 17 | % |  | 35 | % | — | % | 15 | %
Titanium and titanium-based alloys |  | 20 | % | 6 | % | 12 | % |  | 27 | % | 10 | % | 18 | %
Zirconium and related alloys |  | — | % | 19 | % | 10 | % |  | — | % | 12 | % | 8 | %
Total High-Value Products |  | 100 | % | 85 | % | 91 | % |  | 100 | % | 68 | % | 87 | %
Standard Products |  |  |  |  |  |  |  |
Standard stainless products |  | — | % | 15 | % | 9 | % |  | — | % | 32 | % | 13 | %
Total |  | 100 | % | 100 | % | 100 | % |  | 100 | % | 100 | % | 100 | %
Schedule of Accounts Receivable - Reserve for Doubtful Accounts |
(in millions) |  |
Accounts Receivable - Reserve for Doubtful Accounts | June 30, 2021 | June 30, 2020
Balance as of beginning of fiscal year | $ | 4.3 |  | $ | 4.6 |
Expense to increase the reserve | — |  | 0.2 |
Write-off of uncollectible accounts | (0.4) |  | (0.3) |
Balance as of period end | $ | 3.9 |  | $ | 4.5 |
Schedule of Contract Assets and Liabilities |
(in millions) |  |
Contract Assets |  |
Short-term | June 30, 2021 | June 30, 2020
Balance as of beginning of fiscal year | $ | 38.9 |  | $ | 38.5 |
Recognized in current year | 48.9 |  | 37.5 |
Reclassified to accounts receivable | (30.4) |  | (34.5) |
Impairment | — |  | — |
Reclassification to/from long-term and contract liability | (5.1) |  | 0.1 |
Balance as of period end | $ | 52.3 |  | $ | 41.6 |
Long-term | June 30, 2021 | June 30, 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 | June 30, 2021 | June 30, 2020
Balance as of beginning of fiscal year | $ | 111.8 |  | $ | 78.7 |
Recognized in current year | 77.9 |  | 97.9 |
Amounts in beginning balance reclassified to revenue | (63.9) |  | (33.9) |
Current year amounts reclassified to revenue | (18.7) |  | (38.5) |
Other | — |  | (0.2) |
Reclassification to/from long-term and contract asset | (3.3) |  | 5.8 |
Balance as of period end | $ | 103.8 |  | $ | 109.8 |
Long-term | June 30, 2021 | June 30, 2020
Balance as of beginning of fiscal year | $ | 32.0 |  | $ | 25.9 |
Recognized in current year | 41.0 |  | 12.4 |
Amounts in beginning balance reclassified to revenue | (0.5) |  | (0.5) |
Current year amounts reclassified to revenue | — |  | — |
Other | — |  | — |
Reclassification to/from short-term | (1.8) |  | (5.8) |
Balance as of period end | $ | 70.7 |  | $ | 32.0 |

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