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Revenue | 6 Months Ended
--- | ---
Mar. 31, 2022
Revenue from Contract with Customer [Abstract] |
Revenue | Revenue The Company produces forged components for (i) turbine engines that power commercial, business and regional aircraft as well as military aircraft and other military applications; (ii) airframe applications for a variety of aircraft; (iii) industrial gas and steam turbine engines for power generation units; and (iv) other commercial applications. The following table represents a breakout of total revenue by customer type:
| Three Months Ended March 31, |  | Six Months Ended March 31,
| 2022 |  | 2021 |  | 2022 |  | 2021
Commercial revenue | $ | 9,506 |  |  | $ | 9,247 |  |  | $ | 17,866 |  |  | $ | 20,000 |
Military revenue | 15,062 |  |  | 15,619 |  |  | 25,949 |  |  | 29,944 |
Total | $ | 24,568 |  |  | $ | 24,866 |  |  | $ | 43,815 |  |  | $ | 49,944 |
The following table represents revenue by the various components:
| Three Months Ended March 31, |  | Six Months Ended March 31,
Net Sales | 2022 |  | 2021 |  | 2022 |  | 2021
Aerospace components for: |  |  |  |  |  |  |
Fixed wing aircraft | $ | 10,071 |  |  | $ | 10,176 |  |  | $ | 19,960 |  |  | $ | 19,966 |
Rotorcraft | 4,371 |  |  | 7,872 |  |  | 7,914 |  |  | 15,603 |
Energy components for power generation units | 4,346 |  |  | 5,102 |  |  | 8,003 |  |  | 11,565 |
Commercial product and other revenue | 5,780 |  |  | 1,716 |  |  | 7,938 |  |  | 2,810 |
Total | $ | 24,568 |  |  | $ | 24,866 |  |  | $ | 43,815 |  |  | $ | 49,944 |
The following table represents revenue by geographic region based on the Company's selling operation locations:
| Three Months Ended March 31, |  | Six Months Ended March 31,
Net Sales | 2022 |  | 2021 |  | 2022 |  | 2021
North America | $ | 20,426 |  |  | $ | 20,019 |  |  | $ | 36,288 |  |  | $ | 39,784 |
Europe | 4,142 |  |  | 4,847 |  |  | 7,527 |  |  | 10,160 |
Total | $ | 24,568 |  |  | $ | 24,866 |  |  | $ | 43,815 |  |  | $ | 49,944 |
In addition to the disaggregated revenue information provided above, approximately 62% and 61% of total net sales as of March 31, 2022 and 2021, respectively, was recognized on an over-time basis because of the continuous transfer of control to the customer, with the remainder recognized at a point in time. Contract Balances The following table contains a roll forward of contract assets and contract liabilities for the period ended March 31, 2022:
Contract assets - Beginning balance, October 1, 2021 |  | $ | 12,874 |
Additional revenue recognized over-time |  | 27,375 |
Less amounts billed to the customers |  | (27,136) |
Contract assets - Ending balance, March 31, 2022 |  | $ | 13,113 |
Contract liabilities (included within Accrued liabilities) - Beginning balance, October 1, 2021 |  | $ | (236) |
Payments received in advance of performance obligations |  | (1,209) |
Performance obligations satisfied |  | 1,169 |
Contract liabilities (included within Accrued liabilities) - Ending balance, March 31, 2022 |  | $ | (276) |
There were no impairment losses recorded on contract assets as of March 31, 2022 and September 30, 2021. Remaining performance obligations As of March 31, 2022, the Company has $72,045 of remaining performance obligations, the majority of which are anticipated to be completed within the next twelve months.

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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://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -URI http://asc.fasb.org/topic&trid=49130388 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130551-203045 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b)(2) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130556-203045 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130550-203045 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130558-203045 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 + Details
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