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Net Sales
 12 Months Ended
Dec. 31, 2021
Revenue From Contract With Customer [Abstract]  
Net Sales

16. Net Sales

Disaggregated Net Sales

As discussed in Note 1, we primarily derive our revenues from the sales of various chemical products. The following table presents our net sales disaggregated by our principal markets, which disaggregation is consistent with other financial information utilized or provided outside of our consolidated financial statements:

 

 

 

 

 

 

 

2021

 

 

2020

 

 

2019

 

 

 

(In Thousands)

 

Net sales:

 

 

 

 

 

 

 

 

 

 

 

 

Agricultural products

 

$

264,502

 

 

$

180,036

 

 

$

187,641

 

Industrial products

 

 

234,496

 

 

 

133,024

 

 

 

139,643

 

Mining products

 

 

57,241

 

 

 

38,256

 

 

 

37,786

 

Total net sales

 

$

556,239

 

 

$

351,316

 

 

$

365,070

 

 

Other Information

Although most of our contracts have an original expected duration of one year or less, for our contracts with a duration greater than one year at contract inception, the average remaining expected duration was approximately 18 months at December 31, 2021.

Liabilities associated with contracts with customers (contract liabilities) primarily relate to deferred revenue and customer deposits associated with cash payments received in advance from customers for volume shortfall charges and product shipments. We had approximately $1.6 million and $2.5 million of contract liabilities as of December 31, 2021 and 2020, respectively. During 2021, revenues of $2.5 million were recognized and included in the balance at the beginning of the period.

At December 31, 2021, we have remaining performance obligations with certain customer contracts, excluding contracts with original durations of less than one year and contracts with variable consideration for which we have elected the practical expedient for consideration recognized in revenue as invoiced.  The remaining performance obligations totals approximately $77 million, of which approximately 39% of this amount relates to 2022 through 2024, approximately 29% relates to 2025 through 2026, with the remainder thereafter.