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REVENUES FROM CONTRACTS
 3 Months Ended
Apr. 03, 2021
Revenue from Contract with Customer [Abstract]  
Revenue from Contracts REVENUES FROM CONTRACTS
Disaggregated Revenues

We disaggregate revenue from contracts with customers by major product line and based on the timing of recognition for each of our reportable segments and our other operating segment, as we believe such disaggregation best depicts how the nature, amount, timing, and uncertainty of our revenues and cash flows are affected by economic factors, with such disaggregation presented below for the three months ended April 3, 2021 and March 28, 2020:
Three months ended April 3, 2021
Reportable Segments and OtherHVACDetection and MeasurementEngineered SolutionsOtherTotal
Major product lines
Cooling$72.6 $— $— $— $72.6 
Boilers, comfort heating, and ventilation73.9 — — — 73.9 
Underground locators, inspection and rehabilitation
 equipment, and robotic systems		— 67.4 — — 67.4 
Signal monitoring, obstruction lighting, and bus fare collection systems— 44.2 — — 44.2 
Power transformers— — 110.6 — 110.6 
Process cooling equipment and services— — 29.1 0.2 29.3 
South African projects— — — 0.5 0.5 
$146.5 $111.6 $139.7 $0.7 $398.5 
Timing of Revenue Recognition
Revenues recognized at a point in time$146.5 $96.5 $10.9 $— $253.9 
Revenues recognized over time— 15.1 128.8 0.7 144.6 
$146.5 $111.6 $139.7 $0.7 $398.5 
Three months ended March 28, 2020
Reportable Segments and OtherHVACDetection and MeasurementEngineered SolutionsOtherTotal
Major product lines
Cooling$57.9 $— $— $— $57.9 
Boilers, comfort heating, and ventilation60.6 — — — 60.6 
Underground locators and inspection and rehabilitation
 equipment 		— 48.7 — — 48.7 
Signal monitoring, obstruction lighting, and bus fare collection systems— 43.2 — — 43.2 
Power transformers— — 110.6 — 110.6 
Process cooling equipment and services— — 44.3 — 44.3 
South African projects— — — 2.1 2.1 
$118.5 $91.9 $154.9 $2.1 $367.4 
Timing of Revenue Recognition
Revenues recognized at a point in time$118.5 $83.5 $11.6 $— $213.6 
Revenues recognized over time— 8.4 143.3 2.1 153.8 
$118.5 $91.9 $154.9 $2.1 $367.4 

Contract Balances

Our customers are invoiced for products and services at the time of delivery or based on contractual milestones, resulting in outstanding receivables with payment terms from these customers (“Contract Accounts Receivable”). In some cases, the timing of revenue recognition, particularly for revenue recognized over time, differs from when such amounts are invoiced to customers, resulting in a contract asset (revenue recognition precedes the invoicing of the related revenue amount) or a contract liability (payment from the customer precedes recognition of the related revenue amount). Contract assets and liabilities are generally classified as current. On a contract-by-contract basis, the contract assets and contract liabilities are reported net within our condensed consolidated balance sheets. Our contract balances consisted of the following as of April 3, 2021 and December 31, 2020:

Contract BalancesApril 3, 2021December 31, 2020Change
Contract Accounts Receivable(1)
$226.6 $260.7 $(34.1)
Contract Assets75.8 81.1 (5.3)
Contract Liabilities - current(106.7)(103.5)(3.2)
Contract Liabilities - non-current(2)
(3.2)(3.4)0.2 
Net contract balance$192.5 $234.9 $(42.4)
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(1) Included in “Accounts receivable, net” within the accompanying condensed consolidated balance sheets.

(2) Included in “Other long-term liabilities” within the accompanying condensed consolidated balance sheets.
The $42.4 decrease in our net contract balance from December 31, 2020 to April 3, 2021 was due primarily to cash payments received from customers during the period, partially offset by revenue recognized during the period.
During the three months ended April 3, 2021, we recognized revenues of $46.3 related to our contract liabilities at December 31, 2020.
Performance Obligations

As of April 3, 2021, the aggregate amount allocated to remaining performance obligations was $100.7. We expect to recognize revenue on approximately 54% and 72% of remaining performance obligations over the next 12 and 24 months, respectively, with the remaining recognized thereafter.