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Revenue from Contracts with Customers
 12 Months Ended
Dec. 28, 2025
Revenue from Contract with Customer [Abstract]  
Revenue from Contracts with Customers Revenue from Contracts with Customers
Disaggregation of Revenue
The Company operates in two business segments: High Performance Materials & Components (HPMC) and Advanced Alloys & Solutions (AA&S). Revenue is disaggregated within these two business segments by diversified global markets, primary geographical markets, and diversified products. Comparative information of the Company’s overall revenues (in millions) by global and geographical markets for the fiscal years ended December 28, 2025, December 29, 2024 and December 31, 2023 is as follows:

Fiscal Year
(in millions)202520242023
HPMCAA&STotalHPMCAA&STotalHPMCAA&STotal
Aerospace & Defense:
Jet-Engines- Commercial$1,649.6 $113.3 $1,762.9 $1,365.4 $92.4 $1,457.8 $1,255.3 $78.2 $1,333.5 
Airframes- Commercial312.1 478.8 790.9 369.7 403.2 772.9 350.6 388.8 739.4 
Defense277.7 280.0 557.7 224.8 265.4 490.2 181.0 220.9 401.9 
Total Aerospace & Defense$2,239.4 $872.1 $3,111.5 $1,959.9 $761.0 $2,720.9 $1,786.9 $687.9 $2,474.8 
Other Markets:
Specialty Energy75.8 181.5 257.3 96.8 187.8 284.6 93.9 179.3 273.2 
Electronics— 184.8 184.8 3.0 191.3 194.3 3.1 156.8 159.9 
Medical55.2 84.2 139.4 115.5 109.4 224.9 102.6 74.3 176.9 
Automotive6.5 238.1 244.6 15.2 244.2 259.4 24.6 186.1 210.7 
Conventional Energy6.1 322.3 328.4 9.8 292.2 302.0 10.6 404.0 414.6 
Construction/Mining27.7 117.7 145.4 26.3 132.2 158.5 35.0 127.9 162.9 
Other31.0 145.0 176.0 52.0 165.5 217.5 63.5 237.2 300.7 
Total Other Markets$126.5 $1,092.1 $1,218.6 $221.8 $1,134.8 $1,356.6 $239.4 $1,186.3 $1,425.7 
Total$2,441.7 $2,145.7 $4,587.4 $2,278.5 $2,083.6 $4,362.1 $2,120.2 $2,053.5 $4,173.7 
Fiscal Year
(in millions)202520242023
HPMCAA&STotalHPMCAA&STotalHPMCAA&STotal
Primary Geographical Market:
United States$1,336.2 $1,303.6 $2,639.8 $1,134.0 $1,391.2 $2,525.2 $915.3 $1,335.5 $2,250.8 
China81.5 242.8 324.3 57.6 242.0 299.6 70.1 263.2 333.3 
United Kingdom222.0 55.2 277.2 217.0 40.9 257.9 224.8 34.3 259.1 
Germany160.2 67.2 227.4 202.5 57.2 259.7 204.2 38.8 243.0 
France156.0 90.2 246.2 186.9 40.6 227.5 172.4 47.0 219.4 
Canada90.7 78.8 169.5 60.9 55.3 116.2 64.9 46.1 111.0 
Rest of World395.1 307.9 703.0 419.6 256.4 676.0 468.5 288.6 757.1 
Total$2,441.7 $2,145.7 $4,587.4 $2,278.5 $2,083.6 $4,362.1 $2,120.2 $2,053.5 $4,173.7 

Comparative information of the Company’s major products based on their percentages of sales is included in the following table. HRPF conversion service sales in the AA&S segment are excluded from this presentation.
Fiscal Year
202520242023
HPMCAA&STotalHPMCAA&STotalHPMCAA&STotal
Diversified Products:
Nickel-based alloys and specialty alloys43 %50 %46 %41 %49 %45 %44 %54 %49 %
Precision forgings, castings and components40 %— %22 %36 %— %20 %33 %— %17 %
Titanium and titanium-based alloys17 %19 %18 %23 %13 %18 %22 %12 %17 %
Zirconium and related alloys— %19 %9 %— %19 %9 %— %15 %7 %
Precision rolled strip— %12 %5 %— %19 %8 %1 %19 %10 %
Total100 %100 %100 %100 %100 %100 %100 %100 %100 %

The Company maintains a backlog of confirmed orders totaling $3.7 billion, $3.9 billion and $3.8 billion at December 28, 2025, December 29, 2024 and December 31, 2023, respectively. Due to the structure of the Company’s LTAs, 70% of this backlog at December 28, 2025 represented booked orders with performance obligations that will be satisfied within the next twelve months. The backlog does not reflect any elements of variable consideration.
Accounts Receivable
As of December 28, 2025 and December 29, 2024, accounts receivable with customers were $690.3 million and $724.2 million, respectively. The following represents the rollforward of accounts receivable - reserve for doubtful accounts for the fiscal years ended December 28, 2025, December 29, 2024 and December 31, 2023:
(in millions)
Accounts Receivable - Reserve for Doubtful Accounts
Balance as of January 1, 2023$7.7 
Expense to increase the reserve0.1 
Write-off of uncollectible accounts(4.6)
Balance as of December 31, 20233.2 
Expense to increase the reserve12.3 
Write-off of uncollectible accounts(0.5)
Balance as of December 29, 202415.0 
Expense to increase the reserve1.9 
Write-off of uncollectible accounts(12.7)
Balance as of December 28, 2025$4.2 
Contract balances
The following represents the rollforward of contract assets and liabilities for the fiscal years ended December 28, 2025, December 29, 2024 and December 31, 2023:
(in millions)
Contract Assets
Fiscal Year
Short-term202520242023
Balance as of beginning of fiscal year$75.6 $59.1 $64.1 
Recognized in current year117.3 88.9 84.1 
Reclassified to accounts receivable(120.1)(72.4)(89.5)
Reclassification to/from contract liability— — 0.4 
Balance as of period end$72.8 $75.6 $59.1 
(in millions)
Contract Liabilities
Fiscal Year
Short-term202520242023
Balance as of beginning of fiscal year$169.4 $163.6 $149.1 
Recognized in current year158.8 133.6 133.4 
Amounts in beginning balance reclassified to revenue(109.1)(88.2)(107.9)
Current year amounts reclassified to revenue(76.0)(56.3)(40.9)
Other(2.0)— (0.7)
Reclassification to/from long-term and contract asset5.3 16.7 30.6 
Balance as of period end$146.4 $169.4 $163.6 
Fiscal Year
Long-term (a)202520242023
Balance as of beginning of fiscal year$45.3 $39.4 $66.8 
Recognized in current year58.2 22.6 2.8 
Amounts in beginning balance reclassified to revenue(2.2)— — 
Current year amounts reclassified to revenue(1.8)— — 
Other(2.9)— — 
Reclassification to/from short-term(5.3)(16.7)(30.2)
Balance as of period end$91.3 $45.3 $39.4 
(a) Long-term contract liabilities are included in Other long-term liabilities on the consolidated balance sheets.

Contract costs for obtaining and fulfilling a contract were $15.6 million and $12.0 million as of December 28, 2025 and December 29, 2024, respectively, which are reported in other long-term assets on the consolidated balance sheets. Amortization expense for the fiscal years ended December 28, 2025, December 29, 2024 and December 31, 2023 of these contract costs was $1.8 million, $1.1 million, and $1.2 million, respectively.