Revenues

On January 1, 2018, the Company adopted ASC 606 using the modified retrospective method. As a result of the adoption, there was no cumulative effect adjustments. The Company has determined that the impact of adoption of ASC 606 does not have a material impact on the timing or amount of revenue that we recognize based on our business activities existing at the date of adoption.

The following table disaggregates net revenue by geographic region from contracts with customers based on net revenues generated by subsidiaries within that geographic location (in thousands):



	Year Ended December 31, 2018
	Foil Technology Products		Force Sensors		Weighing and Control Systems		Total
United States	$	61,132	$	39,955	$	23,818	$	124,905
United Kingdom	3,666		11,787		14,296		29,749
Other Europe	31,431		10,678		18,741		60,850
Israel	11,028		517		—		11,545
Asia	33,752		10,249		7,442		51,443
Canada	—		—		21,302		21,302
	$	141,009	$	73,186	$	85,599	$	299,794



	Year Ended December 31, 2017
	Foil Technology Products		Force Sensors		Weighing and Control Systems		Total
United States	$	52,032	$	34,108	$	19,523	$	105,663
United Kingdom	3,173		12,187		11,127		26,487
Other Europe	26,322		8,793		17,312		52,427
Israel	6,673		635		—		7,308
Asia	28,073		9,723		7,288		45,084
Canada	—		—		17,381		17,381
	$	116,273	$	65,446	$	72,631	$	254,350



	Year Ended December 31, 2016
	Foil Technology Products		Force Sensors		Weighing and Control Systems		Total
United States	$	47,414	$	30,082	$	18,423	$	95,919
United Kingdom	3,770		12,232		10,843		26,845
Other Europe	22,969		8,087		15,345		46,401
Israel	4,719		751		27		5,497
Asia	22,070		9,082		3,731		34,883
Canada	—		—		15,384		15,384
	$	100,942	$	60,234	$	63,753	$	224,929

The following table disaggregates net revenue by market sector(in thousands):



	Years Ended December 31,
	2018		2017		2016
Test & Measurement	$	76,735	$	64,798	$	53,691
Avionics, Military & Space	26,743		22,378		19,801
Medical	9,868		8,769		8,459
Precision Weighing	93,734		81,439		84,455
Force Measurement	66,551		53,503		39,975
Steel	26,163		23,463		18,548
	$	299,794	$	254,350	$	224,929

Arrangements with Multiple Performance Obligations

Contracts with our customers can include multiple performance obligations. For such arrangements, we allocate revenues to each performance obligation based on its relative standalone selling price which is determined based on the prices charged to customers when sold on a standalone basis.

Contract Assets & Liabilities

Contract assets are established when revenues are recognized prior to a contractual payment due from the customer. When a payment becomes due based on the contract terms, the Company will reduce the contract asset and record a receivable. Contract liabilities are deferred revenues that are recorded when cash payments are received or due in advance of our performance obligations. Our payment terms vary by the type and location of the products offered. The term between invoicing and when payment is due is not significant.

The outstanding contract assets and liability accounts were as follows (in thousands):



	Contract Asset		Contract Liability
	Unbilled Revenue		Accrued Customer Advances
Balance at December 31, 2017	$	824	$	3,229
Balance at December 31, 2018	$	964	$	5,328
Increase	$	140	$	2,099

The amount of revenue recognized during the year ended December 31, 2018 that was included in the contract liability balance at December 31, 2017 was $3.0 million.

Practical Expedients

The Company does not disclose the value of unsatisfied performance obligations for contracts that have a duration of one year or less and for contracts that are substantially complete. The Company treats shipping and handling activities as fulfillment costs.