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Revenue | 12 Months Ended
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Dec. 31, 2020
Revenue [abstract] |
Disclosure Of Revenue Explanatory | 17. Revenue Cameco’s sales contracts with customers contain both fixed and market-related pricing. Fixed-price contracts are typically based on a term-price indicator at the time the contract is accepted and escalated over the term of the contract. Market-related contracts are based on either the spot price or long-term price, and the price is quoted at the time of delivery rather than at the time the contract is accepted. These contracts often include a floor and/or ceiling prices, which are usually escalated over the term of the contract. Escalation is generally based o n a consumer price index. The Company’s contracts contain either one of these pricing mechanisms or a combination of the two. There is no variable consideration in the contracts and t herefore no revenue is considered constrained at the time of delivery. Cameco expenses the incremental costs of obtaining a contract as incurred as the amortization period is less than a year. The following table summarizes Cameco’s sales disaggregated by geographical region and contract type and includes a reconciliation to the Company’s r eportable segments (note 28): For the year ended December 31, 2020
| Uranium | Fuel services | Other | Total
Customer geographical region |  |  |  |  |  |  |  |
Americas | $ | 588,827 | $ | 206,011 | $ | 7,676 | $ | 802,514
Europe |  | 323,565 |  | 123,864 |  | 3,331 |  | 450,760
Asia |  | 499,378 |  | 47,421 |  | - |  | 546,799
| $ | 1,411,770 | $ | 377,296 | $ | 11,007 | $ | 1,800,073
Contract type |  |  |  |  |  |  |  |
Fixed-price | $ | 406,021 | $ | 355,552 | $ | 7,686 | $ | 769,259
Market-related |  | 1,005,749 |  | 21,744 |  | 3,321 |  | 1,030,814
| $ | 1,411,770 | $ | 377,296 | $ | 11,007 | $ | 1,800,073
For the year ended December 31, 2019
| Uranium | Fuel services | Other | Total
Customer geographical region |  |  |  |  |  |  |  |
Americas | $ | 569,535 | $ | 206,226 | $ | 59,300 | $ | 835,061
Europe |  | 288,134 |  | 79,629 |  | 3,587 |  | 371,350
Asia |  | 556,140 |  | 84,422 |  | 15,952 |  | 656,514
| $ | 1,413,809 | $ | 370,277 | $ | 78,839 | $ | 1,862,925
Contract type |  |  |  |  |  |  |  |
Fixed-price | $ | 349,021 | $ | 305,383 | $ | 69,703 | $ | 724,107
Market-related |  | 1,064,788 |  | 64,894 |  | 9,136 |  | 1,138,818
| $ | 1,413,809 | $ | 370,277 | $ | 78,839 | $ | 1,862,925
Deferred sales The following table provides information about contract liabilities (note 14) from contracts with customers:
|  | 2020 |  | 2019
Beginning of year | $ | 17,418 | $ | 30,727
Additions |  | 6,994 |  | 9,783
Recognized in revenue |  | (10,026) |  | (23,067)
Effect of movements in exchange rates |  | (4) |  | (25)
End of year | $ | 14,382 | $ | 17,418
Deferred sales primarily relates to advance consideration received from customers for future conversion deliveries and fuel fabrication services as well as revenue related to the storage of uranium and converted uranium held at Cameco facilities. The revenue related to the fuel fabricati on services and storage is recognized over time while the revenue related to future conversion deliveries is expected to be recognized between 20 21 and 20 27. Cameco recognized a reduction of revenue of $268,000 (2019 - revenue of $78,000) during 2020 from performance obligations satisfied (or partially satisfied) in previous periods. This is due to the difference between actual pricing indices and the estimates at the time of invoicing. Future sales commitments Cam eco’s sales portfolio consists of sho rt and long-term sales commitments. The contracts can be executed well in advance of a delivery and include both fixed and market-related pricing. The following table summarizes the expected future revenue, by segment, related to only fixed-price contracts with remaining future deliveries as follows:
|  | 2021 |  | 2022 |  | 2023 |  | 2024 |  | 2025 |  | Thereafter |  | Total
Uranium | $ | 243,069 | $ | 189,351 | $ | 179,212 | $ | 166,581 | $ | 129,450 | $ | 416,947 | $ | 1,324,610
Fuel services |  | 319,851 |  | 272,920 |  | 212,655 |  | 215,729 |  | 216,250 |  | 677,611 |  | 1,915,016
Other |  | 4,212 |  | - |  | - |  | - |  | - |  | - |  | 4,212
Total | $ | 567,132 | $ | 462,271 | $ | 391,867 | $ | 382,310 | $ | 345,700 | $ | 1,094,558 | $ | 3,243,838
The sales contracts are denominated largely in US dollars and converted from US to Canadian dollars at a rate of $1.30. The amounts in the table represent the consideration the Company will be entitled to receive when it satisfies the remaining performance obligations in the contracts. The amounts include assumptions about volumes for contracts that have volume flexibility. Cameco’s total revenue that will be earned will also include revenue from contracts with market-related pricing. The Company has elected to exclude these amounts from the table as the transaction price will not be known until the time of delivery. Contracts with an original duration of one year or less have been included in the table.

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