XML 21 R12.htm IDEA: XBRL DOCUMENT v3.20.2
Revenue
9 Months Ended
Sep. 30, 2020
Revenue from Contract with Customer [Abstract]  
Revenue Revenue
Disaggregation of Revenue
The following table represents a disaggregation of revenue by timing of revenue along with the reportable segment for each category:
Three Months Ended September 30, 2020
D&S EastD&S WestE&C CryogenicsE&C FinFansIntersegment EliminationsConsolidated
Point in time$77.7 $81.0 $4.2 $17.2 $(6.9)$173.2 
Over time7.4 10.1 60.6 23.3 (1.4)100.0 
Total$85.1 $91.1 $64.8 $40.5 $(8.3)$273.2 
Three Months Ended September 30, 2019
D&S EastD&S WestE&C CryogenicsE&C FinFansIntersegment EliminationsConsolidated
Point in time$64.1 $79.6 $10.8 $19.5 $(3.2)$170.8 
Over time6.3 13.7 38.1 109.1 — 167.2 
Total$70.4 $93.3 $48.9 $128.6 $(3.2)$338.0 
Nine Months Ended September 30, 2020
D&S EastD&S WestE&C CryogenicsE&C FinFansIntersegment EliminationsConsolidated
Point in time$205.8 $234.7 $4.2 $59.3 $(11.0)$493.0 
Over time29.0 34.8 186.5 126.0 (4.6)371.7 
Total$234.8 $269.5 $190.7 $185.3 $(15.6)$864.7 
Nine Months Ended September 30, 2019
D&S EastD&S WestE&C CryogenicsE&C FinFansIntersegment EliminationsConsolidated
Point in time$203.0 $245.7 $10.8 $58.6 $(6.0)$512.1 
Over time13.8 34.3 120.5 213.4 — 382.0 
Total$216.8 $280.0 $131.3 $272.0 $(6.0)$894.1 
Refer to Note 3, “Reportable Segments,” for a table of revenue disaggregated by product application along with the reportable segment for each category.
Contract Balances
The following table represents changes in our contract assets and contract liabilities balances:
September 30, 2020December 31, 2019Year-to-date Change ($)Year-to-date Change (%)
Contract assets
Accounts receivable, net of allowances$163.6 $191.6 $(28.0)(14.6)%
Unbilled contract revenue97.1 86.1 11.0 12.8 %
Contract liabilities
Customer advances and billings in excess of contract revenue$124.7 $127.7 $(3.0)(2.3)%
Revenue recognized for the three months ended September 30, 2020 and 2019, that was included in the contract liabilities balance at the beginning of each year was $24.3 and $25.8, respectively. Revenue recognized for the nine months ended September 30, 2020 and 2019, that was included in the contract liabilities balance at the beginning of each year was $76.2 and $91.3, respectively. The amount of revenue recognized during the three and nine months ended September 30, 2020 from performance obligations satisfied or partially satisfied in previous periods as a result of changes in the estimates of variable consideration related to long-term contracts, was not significant.
Remaining Performance Obligations
Remaining performance obligations represent the transaction price of firm signed purchase orders or other written contractual commitments from customers for which work has not been performed, or is partially completed, and excludes unexercised contract options and potential orders. As of September 30, 2020, the estimated revenue expected to be recognized in the future related to remaining performance obligations was $684.9. We expect to recognize revenue on approximately 83.7% of the remaining performance obligations over the next 12 months and with the remaining over the next few years thereafter.