Customer Concentrations

12 Months Ended

Dec. 31, 2019

4. Customer Concentrations

In 2019, the Company sold approximately 4.2 million tons of coke under long-term, take-or-pay contracts to its three primary customers in the U.S.: AK Steel Corporation ("AK Steel"), ArcelorMittal USA LLC and/or its affiliates (“AM USA”) and United States Steel Corporation ("U.S. Steel"). In addition, licensing and operating fees are payable to the Company under long-term contracts with ArcelorMittal Brazil.

The table below shows sales to the Company's significant customers:



	Years Ended December 31,
	2019				2018				2017
	Sales and other operating revenue		Percent of Company sales and other operating revenue		Sales and other operating revenue		Percent of Company sales and other operating revenue		Sales and other operating revenue		Percent of Company sales and other operating revenue
	(Dollars in millions)
AM USA and ArcelorMittal Brazil⁽¹⁾	$	824.5	51.5	%	$	735.8	50.7	%	$	678.2	50.9	%
AK Steel⁽²⁾	$	433.3	27.1	%	$	377.9	26.0	%	$	331.3	24.9	%
U.S. Steel⁽³⁾	$	255.4	16.0	%	$	206.8	14.3	%	$	214.1	16.1	%

(1) Represents revenues included in our Domestic Coke and Brazil Coke segments.

(2) Represents revenues included in our Domestic Coke segment.

(3) Represents revenues included in our Domestic Coke and Logistics segments.

The Company generally does not require any collateral with respect to its receivables. At both December 31, 2019 and 2018, the Company’s receivables balances were primarily due from AM USA and ArcelorMittal Brazil, AK Steel and U.S. Steel. As a result, the Company experiences concentrations of credit risk in its receivables with these three customers. These concentrations of credit risk may be affected by changes in economic or other conditions affecting the steel industry.

The table below shows receivables due from the Company's significant customers:



	December 31,
	2019		2018
	(Dollars in millions)
AM USA and ArcelorMittal Brazil	$	28.0	$	34.3
AK Steel	$	13.2	$	25.3
U.S. Steel	$	7.3	$	5.2

Our logistics business provided coal handling and storage services to Murray Energy Corporation, Inc. ("Murray") and Foresight Energy LLC ("Foresight"), who have historically been the two primary customers in the Logistics segment. In 2019, Murray filed for bankruptcy and rejected its take-or-pay contract with CMT, which resulted in the absence of approximately $30 million of take-or-pay revenues. See Note 8.

The table below shows sales to Foresight and Murray:



	Years Ended December 31,
	2019			2018			2017
	(Dollars in millions)
Sales and other operating revenue⁽¹⁾	$	32.4		$	62.5		$	57.8
Percent of Company sales and other operating revenue	2.0		%	4.3		%	4.3		%
Percent of Logistics segment sales and other operating revenue, including intersegment sales	32.7		%	49.3		%	49.4		%


(1)	The 2019 results reflect zero take-or-pay revenues from Murray.

Receivables, net due from Foresight totaled $0.5 million at December 31, 2019. Receivables, net due from Foresight and Murray totaled $3.2 million at December 31, 2018.