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Revenues
 12 Months Ended
Dec. 31, 2022
Revenue from Contract with Customer [Abstract]  
Revenues Revenues
The outstanding contract asset and liability accounts were as follows:
20222021
(In thousands)
Contract assets – January 1$95,274 $68,971 
Contract assets – December 31119,741 95,274 
Change in contract assets – increase24,467 26,303 
Contract liabilities – January 1328,816 215,093 
Contract liabilities – December 31398,692 328,816 
Change in contract liabilities – (increase)(69,876)(113,723)
Net change$(45,409)$(87,420)
The net change in 2022 and 2021 was primarily driven by the receipt of advance payments from customers significantly exceeding the recognition of revenue and customer advance payments from acquired businesses. For the years ended December 31, 2022 and 2021, the Company recognized revenue of $272 million and $184 million, respectively, that was previously included in the beginning balance of contract liabilities.
Contract assets are reported as a component of Other current assets in the consolidated balance sheet. At December 31, 2022 and 2021, $41.0 million and $30.1 million, respectively, of Customer advanced payments (contract liabilities) were recorded in Other long-term liabilities in the consolidated balance sheet.
The remaining performance obligations exceeding one year as of December 31, 2022 and 2021 were $526.0 million and $342.5 million, respectively. Remaining performance obligations represent the transaction price of firm, non-cancelable orders, with expected delivery dates to customers greater than one year from the balance sheet date, for which the performance obligation is unsatisfied or partially unsatisfied. These performance obligations will be substantially satisfied within two to three years.
Geographic Areas
Net sales were attributed to geographic areas based on the location of the customer. Information about the Company’s operations in different geographic areas was as follows for the year ended December 31:
2022
EIGEMGTotal
(In thousands)
United States$2,171,684 $982,579 $3,154,263 
International(1):
United Kingdom92,668 117,788 210,456 
European Union countries510,052 420,756 930,808 
Asia1,050,843 266,011 1,316,854 
Other foreign countries404,106 134,043 538,149 
Total international2,057,669 938,598 2,996,267 
Consolidated net sales$4,229,353 $1,921,177 $6,150,530 
_________________
(1)Includes U.S. export sales of $1,688.7 million.
2021
EIGEMGTotal
(In thousands)
United States$1,910,203 $890,737 $2,800,940 
International(1):
United Kingdom96,206 121,290 217,496 
European Union countries482,426 403,890 886,316 
Asia927,027 254,370 1,181,397 
Other foreign countries347,896 112,469 460,365 
Total international1,853,555 892,019 2,745,574 
Consolidated net sales$3,763,758 $1,782,756 $5,546,514 
_________________
(1)Includes U.S. export sales of $1,475.6 million.
2020
EIGEMGTotal
(In thousands)
United States$1,513,967 $816,159 $2,330,126 
International(1):
United Kingdom54,158 117,469 171,627 
European Union countries371,884 324,203 696,087 
Asia769,532 189,987 959,519 
Other foreign countries280,387 102,283 382,670 
Total international1,475,961 733,942 2,209,903 
Consolidated net sales$2,989,928 $1,550,101 $4,540,029 
_________________
(1)Includes U.S. export sales of $1,196.4 million

Major Products and Services
The Company’s major products and services in the reportable segments were as follows for the year ended December 31:
2022
EIGEMGTotal
(In thousands)
Process and analytical instrumentation$3,061,263 $— $3,061,263 
Aerospace and power1,168,090 549,735 1,717,825 
Automation and engineered solutions— 1,371,442 1,371,442 
Consolidated net sales$4,229,353 $1,921,177 $6,150,530 
2021
EIGEMGTotal
(In thousands)
Process and analytical instrumentation$2,627,476 $— $2,627,476 
Aerospace and power1,136,282 506,925 1,643,207 
Automation and engineered solutions— 1,275,831 1,275,831 
Consolidated net sales$3,763,758 $1,782,756 $5,546,514 
2020
EIGEMGTotal
(In thousands)
Process and analytical instrumentation$2,199,167 $— $2,199,167 
Aerospace and power790,761 466,343 1,257,104 
Automation and engineered solutions— 1,083,758 1,083,758 
Consolidated net sales$2,989,928 $1,550,101 $4,540,029 


Timing of Revenue Recognition
The Company’s timing of revenue recognition was as follows for the year ended December 31:
2022
EIGEMGTotal
(In thousands)
Products transferred at a point in time$3,471,118 $1,680,558 $5,151,676 
Products and services transferred over time758,235 240,619 998,854 
Consolidated net sales$4,229,353 $1,921,177 $6,150,530 
2021
EIGEMGTotal
(In thousands)
Products transferred at a point in time$3,048,819 $1,596,911 $4,645,730 
Products and services transferred over time714,939 185,845 900,784 
Consolidated net sales$3,763,758 $1,782,756 $5,546,514 
2020
EIGEMGTotal
(In thousands)
Products transferred at a point in time$2,427,254 $1,390,574 $3,817,828 
Products and services transferred over time562,674 159,527 722,201 
Consolidated net sales$2,989,928 $1,550,101 $4,540,029 
Product Warranties
The Company provides limited warranties in connection with the sale of its products. The warranty periods for products sold vary among the Company’s operations, but the majority do not exceed one year. The Company calculates its warranty expense provision based on its historical warranty experience and adjustments are made periodically to reflect actual warranty expenses. Product warranty obligations are reported as a component of Accrued liabilities and other in the consolidated balance sheet.
Changes in the accrued product warranty obligation were as follows:
202220212020
(In thousands)
Balance at the beginning of the year$27,478 $27,839 $27,611 
Accruals for warranties issued during the year11,414 11,518 12,000 
Settlements made during the year(11,835)(13,669)(14,602)
Warranty accruals related to acquired businesses and other during the year(570)1,790 2,830 
Balance at the end of the year$26,487 $27,478 $27,839