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Revenue Recognition
 12 Months Ended
Dec. 31, 2024
Revenue from Contract with Customer [Abstract]  
Revenue Recognition

Note 4 - Revenue Recognition

The following table provides the major sources of revenue by end-market for the years ended December 31, 2024, 2023 and 2022:

 

 

Year Ended December 31,

 

 

 

2024

 

 

2023

 

 

2022

 

Industrial

 

$

390.5

 

 

 

533.3

 

 

 

549.0

 

Automotive

 

 

452.3

 

 

 

531.9

 

 

539.1

 

Aerospace and Defense

 

 

134.9

 

 

 

115.0

 

 

 

79.7

 

Energy

 

 

87.3

 

 

 

160.4

 

 

136.6

 

Other(1)

 

 

19.0

 

 

 

21.8

 

 

25.5

 

Total Net Sales

 

$

1,084.0

 

 

$

1,362.4

 

 

$

1,329.9

 

 

(1) “Other” sales by end-market includes the Company’s scrap sales.

The following table provides the major sources of revenue by product type for the years ended December 31, 2024, 2023 and 2022:

 

 

Year Ended December 31,

 

 

 

2024

 

 

2023

 

 

2022

 

Bar

 

$

641.8

 

 

$

917.1

 

 

$

887.4

 

Tube

 

 

139.1

 

 

 

170.1

 

 

 

173.7

 

Manufactured components

 

 

284.1

 

 

 

253.4

 

 

 

243.3

 

Other(2)

 

 

19.0

 

 

 

21.8

 

 

 

25.5

 

Total Net Sales

 

$

1,084.0

 

 

$

1,362.4

 

 

$

1,329.9

 

 

(2) “Other” for sales by product type relates to the Company’s scrap sales.

 

Contract liabilities are recognized when the Company has received consideration from a customer to transfer goods at a future point in time. Contract liabilities are primarily related to deferred revenue resulting from cash payments received in advance from customers and are included in other current liabilities on the Consolidated Balance Sheets. There were no contract liabilities as of December 31, 2024 and $0.8 million as of December 31, 2023.