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Revenue Recognition | 6 Months Ended
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Jun. 30, 2020
Revenue Recognition |
Revenue Recognition | 3. REVENUE RECOGNITION ​ Revenue is disaggregated between our Installation and Distribution segments and further based on market and product, as we believe this best depicts how the nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factors. The following tables present our revenues disaggregated by market (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended June 30,
​ | ​ | 2020 | ​ | 2019
​ | ​ | ​ | Installation | ​ | ​ | Distribution | ​ | ​ | Elims | ​ | ​ | Total | ​ | ​ | Installation | ​ | ​ | Distribution | ​ | ​ | Elims | ​ | ​ | Total
Residential | ​ | $ | 370,969 | ​ | $ | 163,615 | ​ | $ | (29,050) | ​ | $ | 505,534 | ​ | $ | 373,945 | ​ | $ | 159,774 | ​ | $ | (29,060) | ​ | $ | 504,659
Commercial | ​ | ​ | 95,600 | ​ | ​ | 52,721 | ​ | ​ | (7,756) | ​ | ​ | 140,565 | ​ | ​ | 109,083 | ​ | ​ | 53,713 | ​ | ​ | (7,343) | ​ | ​ | 155,453
Net sales | ​ | $ | 466,569 | ​ | $ | 216,336 | ​ | $ | (36,806) | ​ | $ | 646,099 | ​ | $ | 483,028 | ​ | $ | 213,487 | ​ | $ | (36,403) | ​ | $ | 660,112
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Six Months Ended June 30,
​ | ​ | 2020 | ​ | 2019
​ | ​ | ​ | Installation | ​ | ​ | Distribution | ​ | ​ | Elims | ​ | ​ | Total | ​ | ​ | Installation | ​ | ​ | Distribution | ​ | ​ | Elims | ​ | ​ | Total
Residential | ​ | $ | 744,250 | ​ | $ | 326,071 | ​ | $ | (58,055) | ​ | $ | 1,012,266 | ​ | $ | 723,818 | ​ | $ | 313,552 | ​ | $ | (56,576) | ​ | $ | 980,794
Commercial | ​ | ​ | 198,192 | ​ | ​ | 104,487 | ​ | ​ | (15,618) | ​ | ​ | 287,061 | ​ | ​ | 208,592 | ​ | ​ | 104,399 | ​ | ​ | (14,343) | ​ | ​ | 298,648
Net sales | ​ | $ | 942,442 | ​ | $ | 430,558 | ​ | $ | (73,673) | ​ | $ | 1,299,327 | ​ | $ | 932,410 | ​ | $ | 417,951 | ​ | $ | (70,919) | ​ | $ | 1,279,442
​ The following tables present our revenues disaggregated by product (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended June 30,
​ | ​ | 2020 | ​ | 2019
​ | ​ | ​ | Installation | ​ | ​ | Distribution | ​ | ​ | Elims | ​ | ​ | Total | ​ | ​ | Installation | ​ | ​ | Distribution | ​ | ​ | Elims | ​ | ​ | Total
Insulation and accessories | ​ | $ | 360,999 | ​ | $ | 175,559 | ​ | $ | (29,548) | ​ | $ | 507,010 | ​ | $ | 377,541 | ​ | $ | 174,024 | ​ | $ | (28,182) | ​ | $ | 523,383
Glass and windows | ​ | ​ | 39,371 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 39,371 | ​ | ​ | 39,086 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 39,086
Gutters | ​ | ​ | 21,577 | ​ | ​ | 25,979 | ​ | ​ | (5,687) | ​ | ​ | 41,869 | ​ | ​ | 21,569 | ​ | ​ | 23,066 | ​ | ​ | (6,294) | ​ | ​ | 38,341
All other | ​ | ​ | 44,622 | ​ | ​ | 14,798 | ​ | ​ | (1,571) | ​ | ​ | 57,849 | ​ | ​ | 44,832 | ​ | ​ | 16,397 | ​ | ​ | (1,927) | ​ | ​ | 59,302
Net sales | ​ | $ | 466,569 | ​ | $ | 216,336 | ​ | $ | (36,806) | ​ | $ | 646,099 | ​ | $ | 483,028 | ​ | $ | 213,487 | ​ | $ | (36,403) | ​ | $ | 660,112
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Six Months Ended June 30,
​ | ​ | 2020 | ​ | 2019
​ | ​ | ​ | Installation | ​ | ​ | Distribution | ​ | ​ | Elims | ​ | ​ | Total | ​ | ​ | Installation | ​ | ​ | Distribution | ​ | ​ | Elims | ​ | ​ | Total
Insulation and accessories | ​ | $ | 730,995 | ​ | $ | 355,808 | ​ | $ | (59,607) | ​ | $ | 1,027,196 | ​ | $ | 727,496 | ​ | $ | 343,606 | ​ | $ | (56,016) | ​ | $ | 1,015,086
Glass and windows | ​ | ​ | 80,690 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 80,690 | ​ | ​ | 76,954 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 76,954
Gutters | ​ | ​ | 40,506 | ​ | ​ | 45,970 | ​ | ​ | (11,074) | ​ | ​ | 75,402 | ​ | ​ | 40,492 | ​ | ​ | 41,651 | ​ | ​ | (11,881) | ​ | ​ | 70,262
All other | ​ | ​ | 90,251 | ​ | ​ | 28,780 | ​ | ​ | (2,992) | ​ | ​ | 116,039 | ​ | ​ | 87,468 | ​ | ​ | 32,694 | ​ | ​ | (3,022) | ​ | ​ | 117,140
Net sales | ​ | $ | 942,442 | ​ | $ | 430,558 | ​ | $ | (73,673) | ​ | $ | 1,299,327 | ​ | $ | 932,410 | ​ | $ | 417,951 | ​ | $ | (70,919) | ​ | $ | 1,279,442
​ We recognize revenue for our Installation segment over time as the related performance obligation is satisfied with respect to each particular order within a given customer’s contract. Progress toward complete satisfaction of the performance obligation is measured using a cost-to-cost measure of progress method. The cost input is based on the amount of material installed at that customer’s location and the associated labor costs, as compared to the total expected cost for the particular order. Revenue is recognized as the customer is able to receive and utilize the benefits provided by our services. Each contract contains one or more individual orders, which are based on services delivered. When a contract modification is made, typically the remaining goods or services are considered distinct and we recognize revenue for the modification as a separate performance obligation. When material and installation services are bundled in a contract, we combine these items into one performance obligation as the overall promise is to transfer the combined item. ​ Revenue from our Distribution segment is recognized when title to products and risk of loss transfers to our customers. This represents the point in time when the customer is able to direct the use of and obtain substantially all the benefits from the product. The determination of when control is deemed transferred depends on the shipping terms that are agreed upon in the contract. ​ At time of sale, we record estimated reductions to revenue for customer programs and incentive offerings, including special pricing and other volume-based incentives based on historical experience, which is continuously adjusted. The duration of our contracts with customers is relatively short, generally less than a 90-day period, therefore there is not a significant financing component when considering the determination of the transaction price which gets allocated to the individual performance obligations, generally based on standalone selling prices. Additionally, we consider shipping costs charged to a customer as a fulfillment cost rather than a promised service and expense as incurred. Sales taxes, when incurred, are recorded as a liability and excluded from revenue on a net basis. We record a contract asset when we have satisfied our performance obligation prior to billing and a contract liability when a customer payment is received prior to the satisfaction of our performance obligation. The difference between the beginning and ending balances of our contract assets and liabilities primarily results from the timing of our performance and the customer’s payment. Our remaining performance obligations are expected to be recognized within the next twelve months. ​ The following table represents our contract assets and contract liabilities with customers, in thousands: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | Included in Line Item on | ​ | As of
​ | Condensed Consolidated | ​ | June 30, | ​ | December 31,
​ | Balance Sheets | ​ | 2020 | ​ | 2019
Contract Assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​
Receivables, unbilled | Receivables, net | ​ | $ | 53,120 | ​ | $ | 57,153
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Contract Liabilities: | ​ | ​ | ​ | ​ | ​ | ​ | ​
Deferred revenue | Accrued liabilities | ​ | $ | 15,719 | ​ | $ | 16,139
​

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -URI http://asc.fasb.org/topic&trid=49130388 + Details
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