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Revenue | 3 Months Ended
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Mar. 31, 2019
Revenue From Contract With Customer [Abstract] |
Revenue | Note 3 – Revenue The Company’s revenues are generated primarily from the sale of manufactured products bui lt to customer specifications. The Company also generates revenue from design, development and engineering services, in addition to the sale of other inventory. Revenue is measured based on a consideration specified in a contract with a customer. The Company recognizes revenue when it satisfies a performance obligation by transferring control over a manufactured product to a customer. The Com pany’s contracts with customers are generally short-term in nature. Customers are generally billed when the product is shipped or as services are performed. Under the majority of the Company’s manufacturing contracts with customers, the customer controls a ll of the work-in-progress as products are being built. Revenues under these contracts are recognized progressively based on the cost-to-cost method. For other manufacturing contracts, the customer does not take control of the product until it is completed. Under these contracts, the Company recognizes revenue upon transfer of control of product to the customer. Revenue from design, development and engineering services is recognized over time as the services are performed. The Company assumes no significant obligations after shipment as it typically warrants workmanship only. Therefore, the warranty provisions are generally not significant. If the Company records revenue, but does not issue an invoice, a contract asset is recognized. The contract asset is t ransferred to accounts receivable when the entitlement to payment becomes unconditional. Taxes assessed by governmental authorities that are both imposed on and concurrent with a specific revenue-producing transaction, that are collected by the Company fr om a customer, are excluded from revenue. Shipping and handling costs associated with outbound freight after control over a product has transferred to a customer are accounted for as fulfillment costs and are included in cost of sales. Disaggregation of revenue In the following table s, revenue is d isaggregated by market sector. The table s also include a reconciliation of the disaggregated revenue with the reportable operating segments.
|  |  | Reportable Operating Segments
|  |  | Three Months Ended March 31, 2019
(in thousands) |  | Americas |  | Asia |  | Europe |  | Total
Market Sector: |  |  |  |  |  |  |  |
| Industrials | $ | 42,767 | $ | 55,582 | $ | 17,416 | $ | 115,765
| A&D |  | 96,337 |  | — |  | 7,552 |  | 103,889
| Medical |  | 58,411 |  | 40,459 |  | 4,608 |  | 103,478
| Test and instrumentation |  | 28,400 |  | 24,743 |  | 12,878 |  | 66,021
| Computing |  | 110,268 |  | 14,009 |  | 33 |  | 124,310
| Telecommunication |  | 42,773 |  | 45,256 |  | 1,328 |  | 89,357
| External revenue |  | 378,956 |  | 180,049 |  | 43,815 |  | 602,820
| Elimination of intersegment sales |  | 13,102 |  | 7,360 |  | 145 |  | 20,607
| Segment revenue | $ | 392,058 | $ | 187,409 | $ | 43,960 | $ | 623,427
|  |  | Reportable Operating Segments
|  |  | Three Months Ended March 31, 2018
(in thousands) |  | Americas |  | Asia |  | Europe |  | Total
Market Sector: |  |  |  |  |  |  |  |
| Industrials | $ | 52,687 | $ | 54,787 | $ | 18,174 | $ | 125,648
| A&D |  | 87,796 |  | — |  | 8,323 |  | 96,119
| Medical |  | 54,992 |  | 38,263 |  | 3,819 |  | 97,074
| Test and instrumentation |  | 46,030 |  | 39,233 |  | 17,112 |  | 102,375
| Computing |  | 86,221 |  | 14,900 |  | 2,417 |  | 103,538
| Telecommunication |  | 44,393 |  | 38,085 |  | 904 |  | 83,382
| External revenue |  | 372,119 |  | 185,268 |  | 50,749 |  | 608,136
| Elimination of intersegment sales |  | 6,666 |  | 9,854 |  | 47 |  | 16,567
| Segment revenue | $ | 378,785 | $ | 195,122 | $ | 50,796 | $ | 624,703
For both the three months ended March 31, 2019 and 2018, 94% of the Company’s revenue was recognized as products and services transferred over time.

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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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