XML 36 R26.htm IDEA: XBRL DOCUMENT v3.26.1
Revenue from Contracts with Customers (Tables)
 3 Months Ended
Mar. 29, 2026
Revenue from Contract with Customer [Abstract]  
Schedule of Disaggregation of Revenue Comparative information regarding the Company’s overall revenues by global and geographical markets for the quarterly periods ended March 29, 2026 and March 30, 2025 is included in the following tables.
(in millions)Quarter ended
March 29, 2026March 30, 2025
HPMCAA&STotalHPMCAA&STotal
Diversified Global Markets:
Aerospace & Defense:
   Jet Engines- Commercial$431.0 $41.0 $472.0 $397.3 $24.1 $421.4 
   Airframes- Commercial78.7 107.9 186.6 81.8 124.0 205.8 
   Defense59.0 80.0 139.0 58.4 68.8 127.2 
   Total Aerospace & Defense568.7 228.9 797.6 537.5 216.9 754.4 
Other Markets:
Specialty Energy15.6 46.0 61.6 12.4 38.1 50.5 
Electronics— 28.3 28.3 — 39.6 39.6 
Medical9.7 17.8 27.5 15.8 26.6 42.4 
Automotive0.7 60.8 61.5 1.4 59.2 60.6 
Conventional Energy1.9 82.3 84.2 1.7 120.1 121.8 
Construction/Mining11.7 27.3 39.0 7.1 25.8 32.9 
Other6.0 45.8 51.8 8.2 34.0 42.2 
Total Other Markets45.6 308.3 353.9 46.6 343.4 390.0 
Total$614.3 $537.2 $1,151.5 $584.1 $560.3 $1,144.4 
(in millions)Quarter ended
March 29, 2026March 30, 2025
HPMCAA&STotalHPMCAA&STotal
Primary Geographical Market:
United States$335.6 $356.9 $692.5 $316.4 $327.4 $643.8 
Europe201.6 47.1 248.7 191.3 69.4 260.7 
Asia36.9 67.0 103.9 33.3 81.0 114.3 
Canada19.8 22.4 42.2 20.1 19.7 39.8 
South America, Middle East and other20.4 43.8 64.2 23.0 62.8 85.8 
Total$614.3 $537.2 $1,151.5 $584.1 $560.3 $1,144.4 
Comparative information regarding the Company’s major products based on their percentages of sales is included in the following table. Hot-Rolling and Processing Facility (HRPF) conversion service sales in the AA&S segment are excluded from this presentation.
Quarter ended
March 29, 2026March 30, 2025
HPMCAA&STotalHPMCAA&STotal
Diversified Products and Services:
     Nickel-based alloys and specialty alloys45 %53 %49 %41 %55 %48 %
     Precision forgings, castings and components36 %— %20 %39 %— %20 %
     Titanium and titanium-based alloys19 %15 %17 %20 %17 %19 %
     Zirconium and related alloys— %21 %9 %— %17 %8 %
     Precision rolled strip products— %11 %5 %— %11 %5 %
Total100 %100 %100 %100 %100 %100 %
Schedule of Accounts Receivable - Reserve for Doubtful Accounts The following represents the rollforward of accounts receivable - reserve for doubtful accounts for the quarterly periods ended March 29, 2026 and March 30, 2025:
(in millions)
Accounts Receivable - Reserve for Doubtful AccountsMarch 29,
2026		March 30,
2025
Balance as of beginning of year$4.2 $15.0 
Expense to increase the reserve— 0.1 
Write-offs and recoveries of uncollectible accounts(0.3)(3.5)
Balance as of period end$3.9 $11.6 
Schedule of Contract Assets and Liabilities
The following represents the rollforward of contract assets and liabilities for the quarterly periods ended March 29, 2026 and March 30, 2025:
(in millions)
Contract Assets
Short-termMarch 29,
2026		March 30,
2025
Balance as of beginning of year$72.8 $75.6 
Recognized in current year28.2 35.2 
Reclassified to accounts receivable(37.9)(24.9)
Balance as of period end$63.1 $85.9 
(in millions)
Contract Liabilities
Short-termMarch 29,
2026		March 30,
2025
Balance as of beginning of year$146.4 $169.4 
Recognized in current year59.4 53.4 
Amounts in beginning balance reclassified to revenue(41.7)(48.5)
Current year amounts reclassified to revenue(11.5)(6.6)
Other(0.9)(0.3)
Reclassification to/from long-term2.7 19.7 
Balance as of period end$154.4 $187.1 
Long-term(a)
March 29,
2026		March 30,
2025
Balance as of beginning of year$91.3 $45.3 
Recognized in current year51.8 1.7 
Amounts in beginning balance reclassified to revenue(1.8)(0.4)
Other(0.6)(1.9)
Reclassification to/from short-term(2.7)(19.7)
Balance as of period end$138.0 $25.0 
(a) Long-term contract liabilities are included in other long-term liabilities on the consolidated balance sheets.