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Revenue from Contracts with Customers | 9 Months Ended
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Sep. 30, 2021
Revenue from Contract with Customer [Abstract] |
Revenue from Contracts with Customers | Revenue from Contracts with Customers Disaggregated Revenue The following tables represent a disaggregation of revenue from contracts with customers for the three and nine months ended September 30, 2021 and 2020 by segment and geographic region:
| Three Months Ended September 30, 2021
| North America | Europe | Asia-Pacific | South America |  | Total
| (In thousands)
Warehouse rent and storage | $ | 177,734 |  | $ | 19,644 |  | $ | 16,502 |  | $ | 3,174 |  |  | $ | 217,054 |
Warehouse services(1) | 241,581 |  | 29,291 |  | 44,302 |  | 1,639 |  |  | 316,813 |
Third-party managed | 82,490 |  | — |  | 5,292 |  | — |  |  | 87,782 |
Transportation | 38,512 |  | 34,548 |  | 5,512 |  | 407 |  |  | 78,979 |
Total revenues (2) | 540,317 |  | 83,483 |  | 71,608 |  | 5,220 |  |  | 700,628 |
Lease revenue (3) | 8,180 |  | — |  | — |  | — |  |  | 8,180 |
Total revenues from contracts with all customers | $ | 548,497 |  | $ | 83,483 |  | $ | 71,608 |  | $ | 5,220 |  |  | $ | 708,808 |
| Three Months Ended September 30, 2020
| North America | Europe | Asia-Pacific | South America |  | Total
| (In thousands)
Warehouse rent and storage | $ | 144,079 |  | $ | — |  | $ | 13,799 |  | $ | 1,465 |  |  | $ | 159,343 |
Warehouse services(1) | 180,592 |  | — |  | 40,414 |  | 663 |  |  | 221,669 |
Third-party managed | 70,456 |  | — |  | 4,882 |  | — |  |  | 75,338 |
Transportation | 28,582 |  | — |  | 5,052 |  | 462 |  |  | 34,096 |
Other | — |  | — |  | — |  | — |  |  | — |
Total revenues (2) | 423,709 |  | — |  | 64,147 |  | 2,590 |  |  | 490,446 |
Lease revenue (3) | 7,012 |  | — |  | — |  | — |  |  | 7,012 |
Total revenues from contracts with all customers | $ | 430,721 |  | $ | — |  | $ | 64,147 |  | $ | 2,590 |  |  | $ | 497,458 |
(1)Warehouse services revenue includes sales of product that Americold purchases on the spot market, repackages, and sells to customers. Such revenues totaled $4.1 million for the three months ended September 30, 2021. This revenue is generated by an entity acquired in December 2020, therefore there was no related revenue during the three months ended and September 30, 2020. (2)Revenues are within the scope of ASC 606, Revenue From Contracts with Customers. Elements of contracts or arrangements that are in the scope of other standards (e.g., leases) are separated and accounted for under those standards. (3)Revenues are within the scope of Topic 842, Leases.
| Nine Months Ended September 30, 2021
| North America | Europe | Asia-Pacific | South America |  | Total
| (In thousands)
Warehouse rent and storage | $ | 509,019 |  | $ | 56,518 |  | $ | 46,756 |  | $ | 8,501 |  |  | $ | 620,794 |
Warehouse services | 673,048 |  | 82,552 |  | 128,032 |  | 4,813 |  |  | 888,445 |
Third-party managed | 217,192 |  | — |  | 15,835 |  | — |  |  | 233,027 |
Transportation | 117,865 |  | 98,998 |  | 15,982 |  | 1,206 |  |  | 234,051 |
Total revenues (1) | 1,517,124 |  | 238,068 |  | 206,605 |  | 14,520 |  |  | 1,976,317 |
Lease revenue (2) | 21,993 |  | — |  | — |  | — |  |  | 21,993 |
Total revenues from contracts with all customers | $ | 1,539,117 |  | $ | 238,068 |  | $ | 206,605 |  | $ | 14,520 |  |  | $ | 1,998,310 |
| Nine Months Ended September 30, 2020
| North America | Europe | Asia-Pacific | South America |  | Total
| (In thousands)
Warehouse rent and storage | $ | 429,039 |  | $ | — |  | $ | 39,438 |  | $ | 3,931 |  |  | $ | 472,408 |
Warehouse services | 536,100 |  | — |  | 111,109 |  | 1,966 |  |  | 649,175 |
Third-party managed | 199,938 |  | — |  | 13,275 |  | — |  |  | 213,213 |
Transportation | 84,130 |  | — |  | 19,328 |  | 1,416 |  |  | 104,874 |
Other | 4,448 |  | — |  | — |  | — |  |  | 4,448 |
Total revenues (1) | 1,253,655 |  | — |  | 183,150 |  | 7,313 |  |  | 1,444,118 |
Lease revenue (2) | 19,931 |  | — |  | — |  | — |  |  | 19,931 |
Total revenues from contracts with all customers | $ | 1,273,586 |  | $ | — |  | $ | 183,150 |  | $ | 7,313 |  |  | $ | 1,464,049 |
(1)Warehouse services revenue includes sales of product that Americold purchases on the spot market, repackages, and sells to customers. Such revenues totaled $10.4 million for the nine months ended September 30, 2021. This revenue is generated by an entity acquired in December 2020, therefore there was no related revenue during the nine months ended September 30, 2020. (2)Revenues are within the scope of ASC 606, Revenue From Contracts with Customers. Elements of contracts or arrangements that are in the scope of other standards (e.g., leases) are separated and accounted for under those standards. (3)Revenues are within the scope of Topic 842, Leases. Performance Obligations Substantially all our revenue for warehouse storage and handling services, and management and incentive fees earned under third-party managed and other contracts is recognized over time as the customer benefits throughout the period until the contractual term expires. Typically, revenue is recognized over time using an output measure (e.g. passage of time) to measure progress. Revenue recognized at a point in time upon delivery when the customer typically obtains control, include most accessorial services, transportation services, reimbursed costs and quarry product shipments. For arrangements containing non-cancellable contract terms, any variable consideration related to storage renewals or incremental handling charges above stated minimums are 100% constrained and not included in aggregate amount of the transaction price allocated to the unsatisfied performance obligations disclosed below, given the degree in difficulty in estimation. Payment terms are generally 0 - 30 days upon billing, which is typically monthly, either in advance or subsequent to the performance of services. The same payment terms typically apply for arrangements containing variable consideration. The Company has no material warranties or obligations for allowances, refunds or other similar obligations. As of September 30, 2021, the Company had $761.8 million of remaining unsatisfied performance obligations from contracts with customers subject to non-cancellable terms and have an original expected duration exceeding one year. These obligations also do not include variable consideration beyond the non-cancellable term, which due to the inability to quantify by estimate, is fully constrained. The Company expects to recognize approximately 8% of these remaining performance obligations as revenue in 2021, and the re maining 92% to be recognized over a weighted average period of 15.4 years through 2038. Contract Balances The timing of revenue recognition, billings and cash collections results in accounts receivable (contract assets), and unearned revenue (contract liabilities) on the accompanying Condensed Consolidated Balance Sheets. Generally, billing occurs monthly, subsequent to revenue recognition, resulting in contract assets. However, the Company may bill and receive advances on storage and handling services, before revenue is recognized, resulting in contract liabilities. These assets and liabilities are reported on the accompanying Condensed Consolidated Balance Sheets on a contract-by-contract basis at the end of each reporting period. Changes in the contract asset and liability balances during the three and nine months ended September 30, 2021, were not materially impacted by any other factors. Opening and closing receivables balances related to contracts with customers accounted for under ASC 606 were $362.8 million and $321.5 million as of September 30, 2021 and December 31, 2020, respectively. All other trade receivable balances relate to contracts accounted for under ASC 842. Opening and closing balances in unearned revenue related to contracts with customers were $22.1 million and $19.2 million as of September 30, 2021 and December 31, 2020, respectively. Substantially all revenue that was included in the contract liability balances at the beginning of 2021 has been recognized as of September 30, 2021, and represents revenue from the satisfaction of monthly storage and handling services with inventory that turns on average every 30 days.

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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://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -URI http://asc.fasb.org/topic&trid=49130388 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130551-203045 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b)(2) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130556-203045 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130550-203045 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130558-203045 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 + Details
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