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Revenue Recognition (Tables)
 6 Months Ended
Jun. 30, 2024
Revenue from Contract with Customer [Abstract]  
Disaggregation of Revenue
The following tables present our customer revenues disaggregated by revenue source:
Three Months Ended June 30, 2024
(Amounts in thousands)FPDFCDTotal
Original Equipment$301,866 $264,504 $566,370 
Aftermarket508,747 81,775 590,522 
$810,613 $346,279 $1,156,892 
Three Months Ended June 30, 2023
FPDFCDTotal
Original Equipment$284,053 $233,770 $517,823 
Aftermarket480,798 81,755 562,553 
$764,851 $315,525 $1,080,376 
Six Months Ended June 30, 2024
(Amounts in thousands)FPDFCDTotal
Original Equipment$586,904 $508,067 $1,094,971 
Aftermarket992,472 156,928 1,149,400 
$1,579,376 $664,995 $2,244,371 
Six Months Ended June 30, 2023
FPDFCDTotal
Original Equipment$536,785 $444,522 $981,307 
Aftermarket927,545 151,829 1,079,374 
$1,464,330 $596,351 $2,060,681 
Our customer sales are diversified geographically. The following tables present our revenues disaggregated by geography, based on the shipping addresses of our customers:
Three Months Ended June 30, 2024
(Amounts in thousands)FPDFCDTotal
North America(1)$342,678 $143,402 $486,080 
Latin America(2)72,948 6,116 79,064 
Middle East and Africa 134,652 50,627 185,279 
Asia Pacific105,832 87,036 192,868 
Europe154,503 59,098 213,601 
$810,613 $346,279 $1,156,892 
Three Months Ended June 30, 2023
FPDFCDTotal
North America(1)$317,994 $143,446 $461,440 
Latin America(2)63,107 7,190 70,297 
Middle East and Africa130,158 36,536 166,694 
Asia Pacific110,390 72,510 182,900 
Europe143,202 55,843 199,045 
$764,851 $315,525 $1,080,376 
Six Months Ended June 30, 2024
(Amounts in thousands)FPDFCDTotal
North America(1)$653,143 $272,405 $925,548 
Latin America(2)143,334 11,150 154,484 
Middle East and Africa 270,915 96,854 367,769 
Asia Pacific212,127 163,483 375,610 
Europe299,857 121,103 420,960 
$1,579,376 $664,995 $2,244,371 
Six Months Ended June 30, 2023
FPDFCDTotal
North America(1)$600,258 $269,124 $869,382 
Latin America(2)127,102 15,055 142,157 
Middle East and Africa244,524 64,931 309,455 
Asia Pacific223,774 140,342 364,116 
Europe268,672 106,899 375,571 
$1,464,330 $596,351 $2,060,681 
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(1) North America represents the United States and Canada.
(2) 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 six months ended June 30, 2024 and 2023:

(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, 2024$280,228 $1,034 $287,697 $1,543 
Revenue recognized that was included in contract liabilities at the beginning of the period— — (163,330)(174)
Revenue recognized in the period in excess of billings400,743 — — — 
Billings arising during the period in excess of revenue recognized— — 175,447 — 
Amounts transferred from contract assets to receivables(380,362)(437)— — 
Currency effects and other, net(12,933)332 (6,460)(57)
Ending balance, June 30, 2024$287,676 $929 $293,354 $1,312 


(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, 2023$233,457 $297 $256,963 $1,059 
Revenue recognized that was included in contract liabilities at the beginning of the period— — (169,722)— 
Revenue recognized in the period in excess of billings301,548 — — — 
Billings arising during the period in excess of revenue recognized— — 176,491 661 
Amounts transferred from contract assets to receivables(310,232)(301)— — 
Currency effects and other, net2,863 473 5,993 5,851 
Ending balance, June 30, 2023$227,636 $469 $269,725 $7,571 
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(1) Included in other assets, net.
(2) Included in retirement obligations and other liabilities.