Revenue Recognition |
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| Revenue Recognition | Note 3 – Revenue Recognition The Company recognizes revenue upon transfer of control of promised goods or services to customers in an amount that reflects the consideration it expects to receive for those goods or services, including any variable consideration. The Company generates revenue by processing steel to the precise type, thickness, length, width, shape, and surface quality required by customer specifications. The Company can also toll process steel for steel mills, large end-users and service centers. Toll processing revenue is recognized over time. All other revenue is recognized at a point in time, generally upon shipment. The following table summarizes net sales by product class for fiscal 2026, fiscal 2025, and fiscal 2024:
The following table summarizes the unbilled receivables and contract assets at the end of fiscal 2026 and fiscal 2025:
The following table summarizes the changes in contract liabilities during fiscal 2026 and fiscal 2025:
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