A breakout by segment of revenue recognized over time versus point in time for the three months ended November 30, 2019 and 2018 is as follows:

	Three months ended						Three months ended
	November 30, 2019						November 30, 2018
($ in thousands)	Irrigation		Infrastructure		Total		Irrigation		Infrastructure		Total
Point in time	$	73,375	$	21,605	$	94,980	$	81,086	$	21,247	$	102,333
Over time		8,977		2,657		11,634		6,524		1,490		8,014
Revenue from the contracts with customers		82,352		24,262		106,614		87,610		22,737		110,347

Lease revenue		—		2,779		2,779		—		1,604		1,604
Total operating revenues	$	82,352	$	27,041	$	109,393	$	87,610	$	24,341	$	111,951

Further disaggregation of revenue is disclosed in the Note 16 – Industry Segment Information.

For contracts with a length longer than twelve months, the unsatisfied performance obligations were $6.1 million at November 30, 2019.

Contract assets arise when recorded revenue for a contract exceeds the amounts billed under the terms of such contract. Contract liabilities arise when billed amounts exceed revenue recorded. Amounts are billable to customers upon various measures of performance, including achievement of certain milestones and completion of specified units of completion of the contract. At November 30, 2019 and August 31, 2019, contract assets amounted to $1.2 million and $1.3 million respectively. These amounts are included within other current assets on the condensed consolidated balance sheet.

Contract liabilities include advance payments from customers and billings in excess of delivery of performance obligations. At November 30, 2019 and August 31, 2019, contract liabilities amounted to $14.7 million and $18.4 million, respectively. Contract liabilities are included within other current liabilities on the condensed consolidated balance sheets. During the Company’s three months ended November 30, 2019 and November 30, 2018, the Company recognized $6.4 million and $4.6 million of revenue that were included in the liabilities as of August 31, 2019 and August 31, 2018, respectively. The revenue recognized was due to applying advance payments received for the performance obligations completed during the quarter.