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Revenue

3 Months Ended

Mar. 29, 2020

Revenue from Contract with Customer [Abstract]

Revenue

Revenue

Disaggregated sales disclosures for the quarter ended March 29, 2020, and March 31, 2019, are included below and in Note 14, Segmental Information.

		First Quarter
		2020										2019
	In millions	Gas Cylinders			Elektron			Total				Gas Cylinders			Elektron			Total
	General industrial	$	11.9		$	27.7		$	39.6			$	13.1		$	30.6		$	43.7
	Transportation	18.9			11.2			30.1				20.9			19.1			40.0
	Defense and emergency	18.1			11.4			29.5				18.7			10.5			29.2
	Healthcare	3.7			0.9			4.6				5.7			1.8			7.5
		$	52.6		$	51.2		$	103.8			$	58.4		$	62.0		$	120.4

The Company’s performance obligations are satisfied over time as work progresses or at a point in time. Design and tooling arrangements are the only contracts for which sales are recognized over time. Sales from these sources combined accounted for less than 1% of the Company’s sales for the quarters ended March 29, 2020, and March 31, 2019. All consideration from contracts with customers is included in these amounts.

The following table provides information about contract receivables, contract assets and contract liabilities from contracts with customers:

	In millions	March 29, 2020				December 31, 2019
	Contract receivables	$	1.5			$	1.7
	Contract assets	0.5				1.3
	Contract liabilities	(0.4		)		(0.5		)

Contract assets consist of $0.5 million accrued unbilled amounts relating to tooling revenue and are recognized in prepayments and accrued income in the consolidated balance sheets. Of the $1.3 million contract assets recognized as of December 31, 2019, $0.4 million was billed to customers and transferred to receivables as of March 29, 2020.

Contract liabilities of $0.4 million consist of advance payments and billing above costs incurred and are recognized as other current liabilities. Significant changes in contract liabilities balances during the period are as follows:

	In millions	2020
	As at January 1,	$	(0.5	)
	Net (payments received) / amounts billed	(0.1		)
	Net (costs incurred) / revenue recognized	0.2
	As at March 29,	$	(0.4	)

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- References

No definition available.

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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

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