Revenue from Contracts with Customers

9 Months Ended

Sep. 30, 2019

Revenue from Contract with Customer [Abstract]

Revenue from Contract with Customer [Text Block]

15. REVENUE FROM CONTRACTS WITH CUSTOMERS

Disaggregation of Net Sales

Net sales recognized from contracts with customers, disaggregated by segment and geographical location, are presented in the following table for the three and nine months ended September 30, 2019 and 2018. Net sales are attributed to regions based on the location of production. Intersegment sales have been excluded from the table.

In the first quarter of 2019, we reorganized our business to disaggregate our former Powertrain business unit, with a portion moving to our Driveline business unit and a portion moving to our Metal Forming business unit. As a result, the Powertrain amounts previously reported for the three and nine months ended September 30, 2018 have been reclassified to Driveline and Metal Forming.



	Three Months Ended September 30, 2019
	Driveline		Metal Forming		Casting		Total
North America	$	902.7	$	296.9	$	169.7	$	1,369.3
Asia	131.0		10.3		—		141.3
Europe	77.9		61.1		—		139.0
South America	26.5		1.3		—		27.8
Total	$	1,138.1	$	369.6	$	169.7	$	1,677.4

	Three Months Ended September 30, 2018
	Driveline		Metal Forming		Casting		Total
North America	$	946.0	$	316.8	$	193.8	$	1,456.6
Asia	160.7		8.9		—		169.6
Europe	85.1		69.8		—		154.9
South America	34.6		1.3		—		35.9
Total	$	1,226.4	$	396.8	$	193.8	$	1,817.0

	Nine Months Ended September 30, 2019
	Driveline		Metal Forming		Casting		Total
North America	$	2,644.1	$	903.7	$	553.9	$	4,101.7
Asia	419.3		25.7		—		445.0
Europe	270.3		201.0		—		471.3
South America	78.2		4.7		—		82.9
Total	$	3,411.9	$	1,135.1	$	553.9	$	5,100.9

	Nine Months Ended September 30, 2018
	Driveline		Metal Forming		Casting		Total
North America	$	2,892.5	$	983.6	$	613.2	$	4,489.3
Asia	481.6		33.7		—		515.3
Europe	240.3		228.8		—		469.1
South America	98.9		3.7		—		102.6
Total	$	3,713.3	$	1,249.8	$	613.2	$	5,576.3

Contract Assets and Liabilities

The following table summarizes our beginning and ending balances for accounts receivable and contract liabilities associated with our contracts with customers:




	Accounts Receivable, Net		Contract Liabilities (Current)			Contract Liabilities (Long-term)
December 31, 2018	$	966.5	$	44.3		$	77.6
September 30, 2019	976.9		22.6			83.1
Increase/(decrease)	$	10.4	$	(21.7	)	$	5.5

Contract liabilities relate to deferred revenue associated with various settlements and commercial agreements for which we have a future performance obligation to the customer. We recognize this deferred revenue into revenue over the life of the associated program as we satisfy our performance obligations to the customer. We do not have contract assets as defined in ASC 606.

During the three and nine months ended September 30, 2019, we amortized $12.5 million and $40.3 million, respectively, of previously recorded contract liabilities into revenue as we satisfied performance obligations with our customers.