Revenue Recognition (Tables)

12 Months Ended

Dec. 31, 2019

Revenue from Contract with Customer [Abstract]

Contract with Customer, Asset and Liability

The opening and closing balances of the Company’s contract assets and contract liabilities balances as of December 31, 2018 and December 31, 2019, respectively, are as follows (in thousands):

	December 31, 2019		December 31, 2018		Increase/(Decrease)
Trade accounts receivables, net	$	125,422	$	167,181	$	(41,759	)
Contract assets (1) (2)	$	52,781	$	46,912	$	5,869
Contract liabilities (3) (4) (5)	$	35,007	$	41,951	$	(6,944	)
(1) Recorded within prepaid expenses and other current assets.
(2) Contract assets balance as of December 31, 2018 includes $0.4 million associated with the I&S business, which is classified as held for sale as of December 31, 2019.
(3) Recorded within accrued expenses and other current liabilities
(4) Contract liabilities balance has been adjusted by $1.4 million associated with RS, which the Company divested during the first quarter of 2019.
(5) Contract liabilities balance as of December 31, 2018 includes $1.0 million associated with the I&S business, which is classified as held for sale as of December 31, 2019.

Disaggregation of Revenue

The following tables presents our revenue disaggregated by major product line and geographical market (in thousands):

Revenue by Major Product Line		Twelve Months Ended
		December 31, 2019		December 31, 2018
Energy Segment
	Oil & Gas - Upstream, Midstream & Other	$	54,818	$	67,738
	Oil & Gas - Downstream	186,164		221,139
	Total	240,982		288,877
Aerospace & Defense Segment
	Commercial Aerospace & Other	124,023		105,914
	Defense	148,602		131,103
	Total	272,625		237,017
Industrial Segment
	Valves	113,386		117,492
	Pumps	337,320		370,084
	Total	450,706		487,576
Net Revenue		$	964,313	$	1,013,470

Revenue by Geographical Market		Twelve Months Ended
		December 31, 2019		December 31, 2018
Energy Segment
	EMEA	$	83,685	$	84,174
	North America	118,061		158,649
	Other	39,236		46,054
	Total	240,982		288,877
Aerospace & Defense Segment
	EMEA	74,657		65,634
	North America	172,676		148,968
	Other	25,292		22,415
	Total	272,625		237,017
Industrial Segment
	EMEA	209,302		238,177
	North America	147,912		151,147
	Other	93,492		98,252
	Total	450,706		487,576
Net Revenue		$	964,313	$	1,013,470