Revenue

9 Months Ended

Sep. 30, 2021

Revenue from Contract with Customer [Abstract]

Revenue

Revenue

Disaggregation of Revenue

The following table presents revenues disaggregated by the major commodity groups as well as the product types included within the major commodity groups (in millions). The Company believes disaggregation by product type best depicts how cash flows are affected by economic factors. See Note 12 for revenues by geographical area.

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2021		2020		2021		2020
Chemical & Petroleum
Chemicals	$	71.0	$	60.1	$	196.4	$	174.8
Petroleum	93.7		95.1		361.8		261.5
Plastics	39.4		36.7		109.7		112.7
Total	204.1		191.9		667.9		549.0
Industrial & Consumer Products
Forest Products	71.6		59.6		191.9		186.3
Metals & Scrap	54.1		41.5		151.4		144.2
Other	33.3		25.3		94.3		75.5
Total	159.0		126.4		437.6		406.0
Agriculture & Minerals
Grain	87.0		74.6		250.6		216.5
Food Products	35.4		38.2		109.0		119.9
Ores & Minerals	7.5		5.5		18.8		16.6
Stone, Clay & Glass	9.9		7.0		25.7		21.2
Total	139.8		125.3		404.1		374.2
Energy
Utility Coal	45.8		28.9		108.7		75.7
Coal & Petroleum Coke	12.8		10.2		35.2		31.3
Frac Sand	4.0		2.3		11.6		7.8
Crude Oil	12.0		5.4		31.1		27.6
Total	74.6		46.8		186.6		142.4
Intermodal	86.9		89.1		259.3		241.3
Automotive	40.1		48.5		133.6		118.0
Total Freight Revenues	704.5		628.0		2,089.1		1,830.9
Other Revenue	39.5		31.6		110.4		108.3
Total Revenues	$	744.0	$	659.6	$	2,199.5	$	1,939.2

Contract Balances

The amount of revenue recognized in the third quarter of 2021 from performance obligations partially satisfied in previous periods was $28.5 million. The performance obligations that were unsatisfied or partially satisfied as of September 30, 2021, were $19.5 million, which represents in-transit shipments that are fully satisfied the following month.

A receivable is any unconditional right to consideration, and is recognized as shipments have been completed and the relating performance obligation has been fully satisfied. At September 30, 2021 and December 31, 2020, the accounts receivable, net balance was $267.3 million and $247.1 million, respectively. Contract assets represent a conditional right to consideration in exchange for goods or services. The Company did not have any contract assets at September 30, 2021 and December 31, 2020.

Contract liabilities represent consideration received in advance from customers, and are recognized as revenue over time as the relating performance obligation is satisfied. The amount of revenue recognized in the third quarter of 2021 that was included in the opening contract liability balance was $9.6 million. The Company has recognized contract liabilities in the accounts payable and accrued liabilities financial statement caption within the consolidated balance sheets. These are considered current liabilities as they will be settled in less than 12 months.

The following tables summarize the changes in contract liabilities (in millions):

Contract liabilities	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2021		2020		2021		2020
Beginning balance	$	19.7	$	16.1	$	29.9	$	30.5
Revenue recognized that was included in the contract liability balance at the beginning of the period	(9.6)		(9.6)		(25.3)		(28.2)
Increases due to consideration received, excluding amounts recognized as revenue during the period	2.4		2.1		7.9		6.3
Ending balance	$	12.5	$	8.6	$	12.5	$	8.6