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REVENUES FROM CONTRACTS
 6 Months Ended
Jul. 03, 2021
Revenue from Contract with Customer [Abstract]  
REVENUES 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 and six months ended July 3, 2021 and June 27, 2020:
Three months ended July 3, 2021
Reportable Segments and OtherHVACDetection and MeasurementOtherTotal
Major product lines
Package and process cooling equipment and services$111.5 $— $— $111.5 
Boilers, comfort heating, and ventilation73.9 — — 73.9 
Underground locators, inspection and rehabilitation
 equipment, and robotic systems		— 65.9 — 65.9 
Signal monitoring, obstruction lighting, and bus fare collection systems— 45.3 — 45.3 
South African projects— — 0.1 0.1 
$185.4 $111.2 $0.1 $296.7 
Timing of Revenue Recognition
Revenues recognized at a point in time$166.3 $101.5 $— $267.8 
Revenues recognized over time19.1 9.7 0.1 28.9 
$185.4 $111.2 $0.1 $296.7 
Six months ended July 3, 2021
Reportable Segments and OtherHVACDetection and MeasurementOtherTotal
Major product lines
Package and process cooling equipment and services$213.2 $— $0.2 $213.4 
Boilers, comfort heating, and ventilation147.8 — — 147.8 
Underground locators, inspection and rehabilitation
 equipment, and robotic systems		— 133.3 — 133.3 
Signal monitoring, obstruction lighting, and bus fare collection systems— 89.5 — 89.5 
South African projects— — 0.6 0.6 
$361.0 $222.8 $0.8 $584.6 
Timing of Revenue Recognition
Revenues recognized at a point in time$320.7 $198.0 $— $518.7 
Revenues recognized over time40.3 24.8 0.8 65.9 
$361.0 $222.8 $0.8 $584.6 

Three months ended June 27, 2020
Reportable Segments and OtherHVACDetection and MeasurementOtherTotal
Major product lines
Package and process cooling equipment and services$109.5 $— $0.4 $109.9 
Boilers, comfort heating, and ventilation55.7 — — 55.7 
Underground locators and inspection and rehabilitation
 equipment		— 47.3 — 47.3 
Signal monitoring, obstruction lighting, and bus fare collection systems— 44.8 — 44.8 
South African projects— — 0.3 0.3 
$165.2 $92.1 $0.7 $258.0 
Timing of Revenue Recognition
Revenues recognized at a point in time$141.5 $85.7 $— $227.2 
Revenues recognized over time23.7 6.4 0.7 30.8 
$165.2 $92.1 $0.7 $258.0 
Six months ended June 27, 2020
Reportable Segments and OtherHVACDetection and MeasurementOtherTotal
Major product lines
Package and process cooling equipment and services$211.7 $— $0.4 $212.1 
Boilers, comfort heating, and ventilation116.3 — — 116.3 
Underground locators and inspection and rehabilitation
 equipment 		— 96.0 — 96.0 
Signal monitoring, obstruction lighting, and bus fare collection systems— 88.0 — 88.0 
South African projects— — 2.4 2.4 
$328.0 $184.0 $2.8 $514.8 
Timing of Revenue Recognition
Revenues recognized at a point in time$269.0 $169.2 $0.2 $438.4 
Revenues recognized over time59.0 14.8 2.6 76.4 
$328.0 $184.0 $2.8 $514.8 
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 July 3, 2021 and December 31, 2020:

Contract BalancesJuly 3, 2021December 31, 2020Change
Contract Accounts Receivable(1)
$204.5 $210.6 $(6.1)
Contract Assets25.0 32.5 (7.5)
Contract Liabilities - current(49.5)(46.3)(3.2)
Contract Liabilities - non-current(2)
(5.6)(3.4)(2.2)
Net contract balance$174.4 $193.4 $(19.0)
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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 $19.0 decrease in our net contract balance from December 31, 2020 to July 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 and six months ended July 3, 2021, we recognized revenues of $23.2 and $38.3, respectively, related to our contract liabilities at December 31, 2020.
Performance Obligations

As of July 3, 2021, the aggregate amount allocated to remaining performance obligations was $103.4. We expect to recognize revenue on approximately 56% and 86% of remaining performance obligations over the next 12 and 24 months, respectively, with the remaining recognized thereafter.