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Revenue | 3 Months Ended
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Mar. 31, 2020
Revenue Recognition [Abstract] |
Revenue | Revenue The following tables present our revenues disaggregated by reportable business segment and geography as they best depict how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors. Revenues by business segment for the three months ended March 31 were as follows:
|  |  |  | 2020 |  | 2019
|  |  |  | (Dollars in thousands) |  |
Metal containers |  |  |  |  | $ | 508,519 |  |  | $ | 507,062 |
Closures |  |  |  |  | 357,151 |  |  | 356,199 |
Plastic containers |  |  |  |  | 164,714 |  |  | 163,870 |
|  |  |  |  | $ | 1,030,384 |  |  | $ | 1,027,131 |
Revenues by geography for the three months ended March 31 were as follows:
|  |  |  | 2020 |  | 2019
|  |  |  | (Dollars in thousands) |  |
North America |  |  |  |  | $ | 822,405 |  |  | $ | 810,741 |
Europe and other |  |  |  |  | 207,979 |  |  | 216,390 |
|  |  |  |  | $ | 1,030,384 |  |  | $ | 1,027,131 |
Our contracts generally include standard commercial payment terms generally acceptable in each region. We do not provide financing with extended payment terms beyond generally standard commercial payment terms for the applicable industry. We have no significant obligations for refunds, warranties or similar obligations. Trade accounts receivable, net are shown separately on our Condensed Consolidated Balance Sheet. Contract assets are the result of the timing of revenue recognition, billings and cash collections. Our contract assets primarily consist of unbilled accounts receivable related to over time revenue recognition and were $68.9 million, $75.3 million, and $71.1 million as of March 31, 2020 and 2019 and December 31, 2019, respectively. Unbilled receivables are included in trade accounts receivable, net on our Condensed Consolidated Balance Sheet.

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -URI http://asc.fasb.org/topic&trid=49130388 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -URI http://asc.fasb.org/topic&trid=2122369 + Details
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