Revenue Recognition

6 Months Ended

Jun. 30, 2022

Revenue from Contract with Customer [Abstract]

Revenue Recognition

Note 3 - Revenue Recognition

The following table provides the major sources of revenue by end-market sector for the three and six months ended June 30, 2022 and 2021:

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Mobile	$	152.9	$	132.9	$	297.0	$	266.5
Industrial		208.2		173.6		383.2		298.3
Energy		46.3		13.2		71.3		21.0
Other (1)		8.3		7.6		16.2		15.1
Total Net Sales	$	415.7	$	327.3	$	767.7	$	600.9

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

The following table provides the major sources of revenue by product type for the three and six months ended June 30, 2022 and 2021:

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Bar	$	295.2	$	225.3	$	531.6	$	398.5
Tube		52.8		40.9		99.3		77.0
Manufactured components		59.4		53.5		120.6		110.2
Other (2)		8.3		7.6		16.2		15.2
Total Net Sales	$	415.7	$	327.3	$	767.7	$	600.9

(2) “Other” 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 any cash payments received in advance from customers. As of June 30, 2022, contract liabilities totaled $1.7 million and were less than $0.1 million as of December 31, 2021. These are included in other current liabilities on the Consolidated Balance Sheets.