XML 49 R36.htm IDEA: XBRL DOCUMENT v3.20.4
Revenue (Tables)
 12 Months Ended
Dec. 31, 2020
Revenue from Contract with Customer [Abstract]  
Contract with Customer, Asset and Liability [Table Text Block]
The following table provides information about contract assets and contract liabilities from contracts with customers:
 12/31/202012/31/201912/31/2018
Contract assets$15,020 $14,894 $9,330 
Contract liabilities - current184,845 104,901 91,561 
Contract liabilities - non-current13,921 10,921 11,381 

Contract assets primarily relate to the Company's right to consideration for work completed but not billed at the reporting date and are recorded in prepaid and other current assets in the Condensed Consolidated Balance Sheet. Contract assets are transferred to receivables when the right to consideration becomes unconditional. Contract liabilities relate to advance consideration received from customers or advance billings for which revenue has not been recognized. Current contract liabilities are recorded in deferred revenue and non-current contract liabilities are recorded in other liabilities in the Condensed Consolidated Balance Sheet. Contract liabilities are reduced when the associated revenue from the contract is recognized. The increase in current contract liability balance as of December 31, 2020 primarily relates to advance payments received on large projects.

In the fourth quarter of 2020, the Company adjusted its prior year balance sheet classification and footnote disclosure related to certain upfront cash consideration received from customers that should have been classified as contract liabilities (included in deferred revenue or other liabilities) rather than customer deposits (included in accounts payable).

The revenue recognized during 2020 and 2019 that was included in the contract liability at the beginning of the respective periods, inclusive of adjustments, amounted to $99.6 million and $85.9 million.