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Note 3 - Revenue Recognition | 12 Months Ended
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Dec. 31, 2024
Notes to Financial Statements |
Revenue from Contract with Customer [Text Block] |
3. | Revenue Recognition
The Company provides metals processing, distribution and delivery of large volumes of processed carbon, coated flat-rolled sheet, coil and plate products, aluminum, and stainless flat-rolled products, prime tin mill products, flat bar products, metal tubing, pipe, bar, valves, fittings, fabricated parts and metal-intensive end-use products. The Company's contracts with customers are comprised of purchase orders with standard terms and conditions. Occasionally the Company may also have longer-term agreements with customers. Substantially all of the contracts with customers require the delivery of metals, which represent single performance obligations that are satisfied at a point in time upon transfer of control of the product to the customer. Transfer of control is assessed based on the use of the product distributed and rights to payment for performance under the contract terms. Transfer of control and revenue recognition for substantially all of the Company’s sales occur upon shipment or delivery of the product, which is when title, ownership and risk of loss pass to the customer and is based on the applicable shipping terms. The shipping terms depend on the customer contract. An invoice for payment is issued at time of shipment and terms are generally net 30 days. Within the metals industry, revenue is frequently disaggregated by products sold. The tables below disaggregates the Company’s revenues by segment and products sold for the year ended December 31, 2024, 2023 and 2022, respectively.
|  | Disaggregated Revenue by Products Sold |
|  | For the Twelve Months Ended December 31, 2024 |
|  | Carbon flat products |  |  | Specialty metals flat products |  |  | Tubular and pipe products |  |  | Total |
Hot Rolled |  |  | 28.0 | % |  |  | - |  |  |  | - |  |  |  | 28.0 | %
Plate |  |  | 11.2 | % |  |  | - |  |  |  | - |  |  |  | 11.2 | %
Cold Rolled |  |  | 4.3 | % |  |  | - |  |  |  | - |  |  |  | 4.3 | %
Coated |  |  | 12.4 | % |  |  | - |  |  |  | - |  |  |  | 12.4 | %
Specialty |  |  | - |  |  |  | 25.6 | % |  |  | - |  |  |  | 25.6 | %
Pipe & Tube |  |  | - |  |  |  | - |  |  |  | 17.3 | % |  |  | 17.3 | %
Other |  |  | 1.2 | % |  |  | - |  |  |  | - |  |  |  | 1.2 | %
Total |  |  | 57.1 | % |  |  | 25.6 | % |  |  | 17.3 | % |  |  | 100.0 | %
|  | Disaggregated Revenue by Products Sold |
|  | For the Twelve Months Ended December 31, 2023 |
|  | Carbon flat products |  |  | Specialty metals flat products |  |  | Tubular and pipe products |  |  | Total |
Hot Rolled |  |  | 28.8 | % |  |  | - |  |  |  | - |  |  |  | 28.8 | %
Plate |  |  | 12.9 | % |  |  | - |  |  |  | - |  |  |  | 12.9 | %
Cold Rolled |  |  | 4.0 | % |  |  | - |  |  |  | - |  |  |  | 4.0 | %
Coated |  |  | 10.3 | % |  |  | - |  |  |  | - |  |  |  | 10.3 | %
Specialty |  |  | - |  |  |  | 26.3 | % |  |  | - |  |  |  | 26.3 | %
Pipe & Tube |  |  | - |  |  |  | - |  |  |  | 17.1 | % |  |  | 17.1 | %
Other |  |  | 0.6 | % |  |  | - |  |  |  | - |  |  |  | 0.6 | %
Total |  |  | 56.6 | % |  |  | 26.3 | % |  |  | 17.1 | % |  |  | 100.0 | %
|  | Disaggregated Revenue by Products Sold |
|  | For the Twelve Months Ended December 31, 2022 |
|  | Carbon flat products |  |  | Specialty metals flat products |  |  | Tubular and pipe products |  |  | Total |
Hot Rolled |  |  | 29.8 | % |  |  | - |  |  |  | - |  |  |  | 29.8 | %
Plate |  |  | 13.3 | % |  |  | - |  |  |  | - |  |  |  | 13.3 | %
Cold Rolled |  |  | 4.7 | % |  |  | - |  |  |  | - |  |  |  | 4.7 | %
Coated |  |  | 4.5 | % |  |  | - |  |  |  | - |  |  |  | 4.5 | %
Specialty |  |  | - |  |  |  | 30.3 | % |  |  | - |  |  |  | 30.3 | %
Pipe & Tube |  |  | - |  |  |  | - |  |  |  | 16.7 | % |  |  | 16.7 | %
Other |  |  | 0.7 | % |  |  | 0.0 | % |  |  | - |  |  |  | 0.7 | %
Total |  |  | 53.0 | % |  |  | 30.3 | % |  |  | 16.7 | % |  |  | 100.0 | %

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