XML 20 R9.htm IDEA: XBRL DOCUMENT
v3.25.2

REVENUE | 3 Months Ended
--- | ---
Mar. 31, 2025
REVENUE [Abstract] |
REVENUE | NOTE 2 – REVENUE Contract Assets and Liabilities The tables below disclose changes in contract assets and liabilities for the three months ended March 31, 2025 and 2024.
Contract Assets |  | March 31, 2025 |  |  | March 31, 2024 |
Contract assets, beginning of period |  | $ | 24,145 |  |  | $ | 9,654 |
Reclassification of the beginning contract assets to receivables, as the result of rights to consideration becoming unconditional |  |  | (13,018 | ) |  |  | (7,899 | )
Contract assets recognized, net of reclassification to receivables |  |  | 19,941 |  |  |  | 16,264 |
Contract assets, end of period |  | $ | 31,068 |  |  | $ | 18,019 |
Contract Liabilities |  |  |  |  |  |
Contract liabilities, beginning of period |  | $ | 20,044 |  |  | $ | 12,979 |
Reclassification of the beginning contract liabilities to receivables, as the result of performance obligations being satisfied |  |  | (4,637 | ) |  |  | (2,858 | )
Cash received in advance and not recognized in revenue |  |  | 4,127 |  |  |  | 2,036 |
Contract liabilities, end of period |  | $ | 19,534 |  |  | $ | 12,157 |
The aggregate amount of the transaction price allocated to remaining performance obligations in existing contracts that are yet to be completed in the North America and Europe and Rest of the World (“ROW”) segments are $483,395 and $205,871 respectively. For performance obligations that are satisfied over time, revenue is expected to be recognized over the period to complete the contract. For performance obligations that are satisfied at a point in time, revenue is expected to be recognized when the customer obtains control of the product, which is generally upon shipment from our facility. No amounts have been excluded from the transaction prices above related to the guidance on constraining estimates of variable consideration. In the following tables, revenue is disaggregated by primary geographical market and timing of revenue recognition. The tables also include a reconciliation of the disaggregated revenue with the reportable segments.
|  | Three Months Ended March 31, 2025 |
|  | New Business |  |  | After Sales |  |  | Total |
Primary geographical markets |  |  |  |  |  |  |  |  |
North America |  | $ | 130,256 |  |  | $ | 17,035 |  |  | $ | 147,291 |
Europe and ROW |  |  | 72,652 |  |  |  | 29,243 |  |  |  | 101,895 |
Total Sales |  | $ | 202,908 |  |  | $ | 46,278 |  |  | $ | 249,186 |
Timing of revenue recognition |  |  |  |  |  |  |  |  |  |  |  |
Products transferred at a point in time |  | $ | 141,369 |  |  | $ | 40,723 |  |  | $ | 182,092 |
Products and services transferred over time |  |  | 61,539 |  |  |  | 5,555 |  |  |  | 67,094 |
Total Sales |  | $ | 202,908 |  |  | $ | 46,278 |  |  | $ | 249,186 |
|  | Three Months Ended March 31, 2024 |
|  | New Business |  |  | After Sales |  |  | Total |
Primary geographical markets |  |  |  |  |  |  |  |  |
North America |  | $ | 128,738 |  |  | $ | 16,229 |  |  | $ | 144,967 |
Europe and ROW |  |  | 84,141 |  |  |  | 29,693 |  |  |  | 113,834 |
Total Sales |  | $ | 212,879 |  |  | $ | 45,922 |  |  | $ | 258,801 |
Timing of revenue recognition |  |  |  |  |  |  |  |  |  |  |  |
Products transferred at a point in time |  | $ | 155,043 |  |  | $ | 40,716 |  |  | $ | 195,759 |
Products and services transferred over time |  |  | 57,836 |  |  |  | 5,206 |  |  |  | 63,042 |
Total Sales |  | $ | 212,879 |  |  | $ | 45,922 |  |  | $ | 258,801 |

X
- 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 -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-9 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-15 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-13 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org/606/tableOfContent + Details
Name: | us-gaap_RevenueFromContractWithCustomerTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_RevenuesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration