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Revenue Recognition (Tables) | 3 Months Ended
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Mar. 31, 2020
Revenue from Contract with Customer [Abstract] |
Disaggregation of Revenue | The following table presents our customer revenues disaggregated by revenue source:
| Three Months Ended March 31, 2020 |  |  |  |
(Amounts in thousands) | FPD |  | FCD |  | Total
Original Equipment | $ | 252,732 |  |  | $ | 199,563 |  |  | $ | 452,295 |
Aftermarket | 382,394 |  |  | 59,768 |  |  | 442,162 |
| $ | 635,126 |  |  | $ | 259,331 |  |  | $ | 894,457 |
| Three Months Ended March 31, 2019 |  |  |  |
| FPD |  | FCD |  | Total
Original Equipment | $ | 205,803 |  |  | $ | 214,047 |  |  | $ | 419,850 |
Aftermarket | 402,956 |  |  | 67,245 |  |  | 470,201 |
| $ | 608,759 |  |  | $ | 281,292 |  |  | $ | 890,051 |
Our customer sales are diversified geographically. The following table presents our revenues disaggregated by geography, based on the shipping addresses of our customers: :
| Three Months Ended March 31, 2020 |  |  |  |
(Amounts in thousands) | FPD |  | FCD |  | Total
North America(1) | $ | 267,524 |  |  | $ | 123,118 |  |  | $ | 390,642 |
Latin America(1) | 42,187 |  |  | 5,511 |  |  | 47,698 |
Middle East and Africa | 97,168 |  |  | 26,663 |  |  | 123,831 |
Asia Pacific | 112,455 |  |  | 55,507 |  |  | 167,962 |
Europe | 115,792 |  |  | 48,532 |  |  | 164,324 |
| $ | 635,126 |  |  | $ | 259,331 |  |  | $ | 894,457 |
| Three Months Ended March 31, 2019 |  |  |  |
| FPD |  | FCD |  | Total
North America(1) | $ | 247,769 |  |  | $ | 135,177 |  |  | $ | 382,946 |
Latin America(1) | 37,601 |  |  | 5,796 |  |  | 43,397 |
Middle East and Africa | 74,366 |  |  | 22,891 |  |  | 97,257 |
Asia Pacific | 113,948 |  |  | 57,192 |  |  | 171,140 |
Europe | 135,075 |  |  | 60,236 |  |  | 195,311 |
| $ | 608,759 |  |  | $ | 281,292 |  |  | $ | 890,051 |
__________________________________ (1) North America represents United States and Canada; Latin America includes Mexico.
Contract liabilities | The following tables present beginning and ending balances of contract assets and contract liabilities, current and long-term, for the three months ended March 31, 2020 and 2019:
(Amounts in thousands) | Contract Assets, net (Current) |  | Long-term Contract Assets, net(1) |  | Contract Liabilities (Current) |  | Long-term Contract Liabilities(2) |
Beginning balance, January 1, 2020 | $ | 272,914 |  |  | 9,280 |  |  | $ | 216,541 |  |  | $ | 1,652 |  |
Revenue recognized that was included in contract liabilities at the beginning of the period | — |  |  | — |  |  | (85,636) |  |  | (634) |  |
Revenue recognized in the period in excess of billings | 203,856 |  |  | 504 |  |  | — |  |  | — |  |
Billings arising during the period in excess of revenue recognized | — |  |  | — |  |  | 100,121 |  |  | — |  |
Amounts transferred from contract assets to receivables | (185,456) |  |  | (93) |  |  | — |  |  | — |  |
Currency effects and other, net | (15,387) |  |  | (7,229) |  |  | (7,394) |  |  | (53) |  |
Ending balance, March 31, 2020 | $ | 275,927 |  |  | $ | 2,462 |  |  | $ | 223,632 |  |  | $ | 965 |  |
(Amounts in thousands) | Contract Assets, net (Current) |  | Long-term Contract Assets, net(1) |  | Contract Liabilities (Current) |  | Long-term Contract Liabilities(2)
Beginning balance, January 1, 2019 | $ | 228,579 |  |  |  | $ | 10,967 |  |  |  | $ | 202,458 |  |  |  | $ | 1,370 |
Revenue recognized that was included in contract liabilities at the beginning of the period | — |  |  |  | — |  |  |  | (73,417) |  |  |  | — |
Revenue recognized in the period in excess of billings | 155,444 |  |  |  | — |  |  |  | — |  |  |  | — |
Billings arising during the period in excess of revenue recognized | — |  |  |  | — |  |  |  | 78,078 |  |  |  | — |
Amounts transferred from contract assets to receivables | (154,817) |  |  |  | (2,202) |  |  |  | — |  |  |  | — |
Currency effects and other, net | (4,356) |  |  |  | (19) |  |  |  | 623 |  |  |  | (12) |
Ending balance, March 31, 2019 | $ | 224,850 |  |  | $ | 8,746 |  |  | $ | 207,742 |  |  | $ | 1,358 |
_____________________________________ (1) Included in other assets, net. (2) Included in retirement obligations and other liabilities.

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