Revenue

9 Months Ended

Sep. 30, 2019

Revenue from Contract with Customer [Abstract]

The following table provides information about disaggregated revenue by primary geographical and end markets, and includes a reconciliation of the disaggregated revenue with reportable segments. During the first quarter of 2019, the Company refined the end market classification of certain customers in each segment and as a result, the end market classification in the comparative period has been reclassified to conform with the current period presentation.



	Three Months Ended September 30, 2019
	Advanced Plastic Processing Technologies		Melt Delivery and Control Systems		Fluid Technologies		Total
	(in millions)
Primary geographical markets:
North America	$	83.6	$	31.6	$	12.5	$	127.7
Europe	4.6		27.6		11.8		44.0
China	0.8		23.8		3.0		27.6
India	24.0		4.0		0.3		28.3
Other	8.5		11.9		2.3		22.7
Total	$	121.5	$	98.9	$	29.9	$	250.3

End markets:
Automotive	$	18.8	$	24.7	$	6.3	$	49.8
Packaging	18.9		10.6		0.1		29.6
Consumer goods	15.8		17.0		1.4		34.2
Electronics	6.1		8.4		0.7		15.2
Medical	6.5		10.4		0.2		17.1
Construction	22.6		0.4		—		23.0
Custom molders and other	32.4		—		—		32.4
Mold makers and other	—		25.5		—		25.5
Job shops and other	—		—		9.8		9.8
Distributors	0.4		1.9		11.4		13.7
Total	$	121.5	$	98.9	$	29.9	$	250.3



	Three Months Ended September 30, 2018
	Advanced Plastic Processing Technologies		Melt Delivery and Control Systems		Fluid Technologies		Total
	(in millions)
Primary geographical markets:
North America	$	93.3	$	34.7	$	13.5	$	141.5
Europe	7.7		29.8		12.2		49.7
China	3.9		28.0		4.3		36.2
India	25.2		3.8		0.3		29.3
Other	11.3		12.5		2.3		26.1
Total	$	141.4	$	108.8	$	32.6	$	282.8

End markets:
Automotive	$	23.8	$	26.2	$	7.7	$	57.7
Packaging	19.3		11.7		0.1		31.1
Consumer goods	18.5		17.9		1.5		37.9
Electronics	13.1		9.5		1.6		24.2
Medical	4.0		8.1		0.2		12.3
Construction	18.9		0.4		—		19.3
Custom molders and other	43.6		—		—		43.6
Mold makers and other	—		32.6		—		32.6
Job shops and other	—		—		9.0		9.0
Distributors	0.2		2.4		12.5		15.1
Total	$	141.4	$	108.8	$	32.6	$	282.8



	Nine Months Ended September 30, 2019
	Advanced Plastic Processing Technologies		Melt Delivery and Control Systems		Fluid Technologies		Total
	(in millions)
Primary geographical markets:
North America	$	254.0	$	102.4	$	38.0	$	394.4
Europe	15.9		84.7		34.1		134.7
China	2.7		69.9		8.5		81.1
India	82.5		12.0		0.7		95.2
Other	23.7		33.8		7.5		65.0
Total	$	378.8	$	302.8	$	88.8	$	770.4

End markets:
Automotive	$	63.2	$	73.9	$	18.8	$	155.9
Packaging	54.3		34.4		0.2		88.9
Consumer goods	50.2		53.2		4.4		107.8
Electronics	20.3		20.6		2.5		43.4
Medical	20.2		27.1		0.6		47.9
Construction	67.0		1.1		—		68.1
Custom molders and other	102.8		—		—		102.8
Mold makers and other	—		83.7		—		83.7
Job shops and other	—		—		28.5		28.5
Distributors	0.8		8.8		33.8		43.4
Total	$	378.8	$	302.8	$	88.8	$	770.4



	Nine Months Ended September 30, 2018
	Advanced Plastic Processing Technologies		Melt Delivery and Control Systems		Fluid Technologies		Total
	(in millions)
Primary geographical markets:
North America	$	267.8	$	105.3	$	39.5	$	412.6
Europe	38.0		96.4		38.2		172.6
China	13.8		99.9		10.6		124.3
India	84.4		11.3		1.0		96.7
Other	23.6		36.5		8.9		69.0
Total	$	427.6	$	349.4	$	98.2	$	875.2

End markets:
Automotive	$	65.1	$	80.1	$	22.4	$	167.6
Packaging	62.6		36.9		0.2		99.7
Consumer goods	53.9		60.1		4.5		118.5
Electronics	37.5		36.9		5.3		79.7
Medical	13.4		24.7		0.6		38.7
Construction	67.3		1.2		—		68.5
Custom molders and other	127.1		—		—		127.1
Mold makers and other	—		101.8		—		101.8
Job shops and other	—		—		27.1		27.1
Distributors	0.7		7.7		38.1		46.5
Total	$	427.6	$	349.4	$	98.2	$	875.2

We receive payments from customers based upon contractual billing schedules. Accounts receivable are recorded when the right to receive consideration becomes unconditional. Contract liabilities include payments received in advance of performance under the contract and are realized with the associated revenue recognized under the contract.

Significant changes in the contract liabilities balances are as follows:



	Three Months Ended September 30,						Nine Months Ended September 30,
	2019			2018			2019			2018
	(in millions)
Balance at beginning of period	$	31.6		$	57.0		$	38.9		$	52.4
Additional advanced billings and deposits received	65.5			78.8			212.6			247.4
Revenue recognized	(65.5		)	(81.6		)	(218.1		)	(242.5		)
Foreign currency translation adjustments and other	(0.3		)	(1.3		)	(2.1		)	(4.4		)
Balance at end of period	$	31.3		$	52.9		$	31.3		$	52.9

Sales, value-add, and other taxes collected concurrent with revenue-producing activities are excluded from revenue. Incidental items that are immaterial in the context of the contract are recognized as expense. The expected costs associated with our base warranties and field service actions are recognized as expense when the products are sold.

The Company generally expenses sales commissions when incurred because the amortization period would have been one year or less. These costs are recorded within selling, general and administrative expenses in the Condensed Consolidated Statements of Operations. As permitted by ASC 606, Revenue from Contracts with Customers, the Company does not disclose the value of unsatisfied performance obligations for (1) contracts with an original expected length of one year or less, and (2) contracts for which we recognize revenue at the amount to which we have the right to invoice for services performed.