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Revenue
 12 Months Ended
Dec. 31, 2019
Revenue from Contract with Customer [Abstract]  
Revenue from Contract with Customer [Text Block] Revenue
The Company recognizes revenue in accordance with ASC 606, Revenue from Contracts with Customers, which was adopted on January 1, 2018 using the modified retrospective method.
Revenue by customer group for the year ended December 31, 2019 was as follows:
 
North America
 
Europe
 
Asia Pacific
 
South America
 
Consolidated
Automotive
$
1,504,136

 
$
765,771

 
$
503,676

 
$
94,310

 
$
2,867,893

Commercial
18,997

 
28,068

 
73

 
114

 
47,252

Other
118,591

 
74,349

 
204

 
111

 
193,255

Revenue
$
1,641,724

 
$
868,188

 
$
503,953

 
$
94,535

 
$
3,108,400

Revenue by customer group for the year ended December 31, 2018 was as follows:
 
North America
 
Europe
 
Asia Pacific
 
South America
 
Consolidated
Automotive
$
1,834,780

 
$
917,892

 
$
571,137

 
$
97,484

 
$
3,421,293

Commercial
23,034

 
34,336

 
19

 
439

 
57,828

Other
66,903

 
77,874

 
4

 
140

 
144,921

Revenue
$
1,924,717

 
$
1,030,102

 
$
571,160

 
$
98,063

 
$
3,624,042


The automotive group consists of sales to automotive OEMs and automotive suppliers, while the commercial group represents sales to OEMs of on- and off-highway commercial equipment and vehicles. The other customer group includes sales related to specialty and adjacent markets.
Substantially all the Company’s revenues are generated from sealing, fuel and brake delivery, fluid transfer and anti-vibration systems for use in passenger vehicles and light trucks manufactured by global OEMs. On April 1, 2019, the Company completed the divestiture of its AVS product line. See Note 5. “Divestiture” for additional information.
A summary of the Company’s products is as follows:
Product Line
 
Description
Sealing Systems
 
Protect vehicle interiors from weather, dust and noise intrusion for improved driving experience; provide aesthetic and functional class-A exterior surface treatment
Fuel & Brake Delivery Systems
 
Sense, deliver and control fluids to fuel and brake systems
Fluid Transfer Systems
 
Sense, deliver and control fluids and vapors for optimal powertrain & HVAC
operation
Anti-Vibration Systems (Divested on April 1, 2019)
 
Control and isolate vibration and noise in the vehicle to improve ride and
handling
Revenue by product line for the year ended December 31, 2019 was as follows:
 
North America
 
Europe
 
Asia Pacific
 
South America
 
Consolidated
Sealing systems
$
567,588

 
$
563,701

 
$
334,056

 
$
69,111

 
$
1,534,456

Fuel and brake delivery systems
479,962

 
124,803

 
112,253

 
23,871

 
740,889

Fluid transfer systems
453,064

 
87,375

 
56,180

 
1,553

 
598,172

Anti-vibration systems
56,457

 
20,807

 
1,464

 
—

 
78,728

Other
84,653

 
71,502

 
—

 
—

 
156,155

Consolidated
$
1,641,724

 
$
868,188

 
$
503,953

 
$
94,535

 
$
3,108,400

Revenue by product line for the year ended December 31, 2018 was as follows:
 
North America
 
Europe
 
Asia Pacific
 
South America
 
Consolidated
Sealing systems
$
635,702

 
$
646,213

 
$
442,774

 
$
73,256

 
$
1,797,945

Fuel and brake delivery systems
545,907

 
138,557

 
87,131

 
24,440

 
796,035

Fluid transfer systems
442,392

 
87,593

 
32,990

 
367

 
563,342

Anti-vibration systems
256,846

 
74,792

 
8,265

 
—

 
339,903

Other
43,870

 
82,947

 
—

 
—

 
126,817

Consolidated
$
1,924,717

 
$
1,030,102

 
$
571,160

 
$
98,063

 
$
3,624,042


Contract Estimates
The amount of revenue recognized is usually based on the purchase order price and adjusted for variable consideration, including pricing concessions. The Company accrues for pricing concessions by reducing revenue as products are shipped or delivered. The accruals are based on historical experience, anticipated performance and management’s best judgment. The Company also generally has ongoing adjustments to customer pricing arrangements based on the content and cost of its products. Such pricing accruals are adjusted as they are settled with customers. Customer returns are usually related to quality or shipment issues and are recorded as a reduction of revenue. The Company generally does not recognize significant return obligations due to their infrequent nature.
Contract Balances
The Company’s contract assets consist of unbilled amounts associated with variable pricing arrangements in its Asia Pacific region. Once pricing is finalized, contract assets are transferred to accounts receivable. As a result, the timing of revenue recognition and billings, as well as changes in foreign exchange rates, will impact contract assets on an ongoing basis. Changes during the year ended December 31, 2019 were not materially impacted by any other factors.
The Company’s contract liabilities consist of advance payments received and due from customers. Net contract assets (liabilities) consisted of the following:
 
 
December 31, 2019
 
December 31, 2018
 
Change
Contract assets
 
$
1,100

 
$
14,757

 
$
(13,657
)
Contract liabilities
 
(61
)
 
(143
)
 
82

Net contract assets
 
$
1,039

 
$
14,614

 
$
(13,575
)

Other
The Company at times enters into agreements that provide for lump sum payments to customers. These payment agreements are recorded as a reduction of revenue during the period the commitment is made. As of December 31, 2019, the Company had current liabilities of $12,916 and long-term liabilities of $9,502 related to commitments of future payments to customers on the consolidated balance sheet.
The Company provides assurance-type warranties to its customers. Such warranties provide customers with assurance that the related product will function as intended and complies with any agreed-upon specifications and are recognized in costs of products sold.