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REVENUE AND LONG-LIVED ASSETS | 12 Months Ended
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Dec. 31, 2018
Segment Reporting [Abstract] |
REVENUE AND LONG-LIVED ASSETS |
9. | REVENUE AND LONG-LIVED ASSETS
Substantially all of our revenue is generated from sales of towing equipment. As such, disaggregation of revenue by product line would not provide useful information because all product lines have substantially similar characteristics. However, revenue streams are tracked by the geographic location of customers. Net sales and long-lived assets (property, plant and equipment and goodwill and intangible assets) by region were as follows. Net sales are attributed to regions based on the locations of customers:
|  | 2018 |  |  | 2017 |  |  | 2016 |
|  | Net Sales |  |  | Long- Lived Assets |  |  | Net Sales |  |  | Long- Lived Assets |  |  | Net Sales |  |  | Long- Lived Assets |
North America |  | $ | 574,806 |  |  | $ | 90,036 |  |  | $ | 527,134 |  |  | $ | 85,707 |  |  | $ | 537,308 |  |  | $ | 68,556 |
Foreign |  |  | 136,900 |  |  |  | 4,433 |  |  |  | 87,967 |  |  |  | 3,540 |  |  |  | 63,811 |  |  |  | 2,676 |
|  | $ | 711,706 |  |  | $ | 94,469 |  |  | $ | 615,101 |  |  | $ | 89,247 |  |  | $ | 601,119 |  |  | $ | 71,232 |
Contract assets primarily relate to the Company’s rights to consideration for work completed but not billed at the reporting date. The contract assets are transferred to receivables when the rights become unconditional. Contract liabilities primarily relate to performance obligations to be satisfied in the future. As of January 1, 2018 and December 31, 2018, contract liability balances related to extended service contracts were $154 and $331, respectively, and are included in accrued liabilities on the consolidated balance sheets. During the year ended December 31, 2018, the Company increased contract liabilities by $1,391 related to extended service contracts. However, during the fourth quarter of 2018, the Company settled $1,214 of this liability with a contract credit in lieu of satisfaction of these obligations. The Company did not have any contract assets at January 1, 2018 or December 31, 2018. Terms on account receivables vary and are based on specific terms agreed upon with each customer. Impairment losses on account receivables were de minimis during the year ended December 31, 2018.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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