Quarterly report pursuant to Section 13 or 15(d)

Revenues

v3.20.1
Revenues
 3 Months Ended
Mar. 31, 2020
Revenue from Contract with Customer [Abstract]  
Revenues
Revenues
Revenues are recognized when control of the promised goods is transferred to our customers or when a service is rendered, in an amount that reflects the consideration we are to receive in exchange for those goods or services.
The following table presents the Company's revenues, disaggregated by product group. Substantially all of the Company's revenues are derived from contracts with customers where performance obligations are satisfied at a point-in-time.
 
Three months ended March 31,
(in thousands)
2020
 
2019
Fiberglass and steel liquid storage tanks and separation equipment
$
3,419

 
$
9,829

Heavy wall seamless carbon steel pipe and tube
7,314

 
8,587

Stainless steel pipe and tube
43,728

 
45,995

Galvanized pipe and tube
6,203

 
6,692

Specialty chemicals
14,033

 
13,701

Net sales
$
74,697

 
$
84,804



Arrangements with Multiple Performance Obligations
Our contracts with customers may include multiple performance obligations. For such arrangements, revenue for each performance obligation is based on its stand-alone selling price and revenue is recognized as each performance obligation is satisfied. The Company generally determines stand-alone selling prices based on the prices charged to customers using the adjusted market assessment approach or expected cost plus margin.