3. Net Sales

The Company disaggregates its net sales by major source as follows:


	For the year ended December 31, 2019
	Products		Services		Total
U.S. Debit and Credit	$	144,541	$	68,600	$	213,141
U.S. Prepaid Debit		—		64,330		64,330
Other		396		1,283		1,679
Intersegment eliminations		(996)		(81)		(1,077)
Total	$	143,941	$	134,132	$	278,073


	For the year ended December 31, 2018
	Products		Services		Total
U.S. Debit and Credit	$	122,119	$	56,478	$	178,597
U.S. Prepaid Debit		—		69,199		69,199
Other		4,398		5,493		9,891
Intersegment eliminations		(1,448)		(425)		(1,873)
Total	$	125,069	$	130,745	$	255,814

Products Net Sales

“Products” net sales are recognized when obligations under the terms of a contract with a customer are satisfied. In most instances, this occurs over time as cards are manufactured for specific customers and have no alternative use and the Company has an enforceable right to payment for work performed. For work performed but not completed and unbilled, the Company estimates revenue by taking actual costs incurred and applying historical margins for similar types of contracts. Items included in “Products” revenue are manufactured Financial Payment Cards, including in contact-EMV, Dual-Interface EMV, contactless and magnetic stripe cards, Second Wave, metal, private label credit cards and retail gift cards. Card@Once printers and consumables are also included in “Products” revenue, and their associated revenues are recognized at the time of shipping. The Company includes gross shipping and handling revenue in net sales, and shipping and handling costs in cost of sales.

Services Net Sales

Net sales are recognized for “Services” as the services are performed. Items included in “Services” net sales include the personalization and fulfillment of Financial Payment Cards, providing tamper-evident secure packaging and fulfillment services to Prepaid Debit Card program managers and software as a service personalization of instant issuance debit cards. For work performed but not completed and unbilled, the Company estimates revenue by taking actual costs incurred and applying historical margins for similar types of contracts.

Customer Contracts

The Company often enters into Master Services Agreements (“MSAs”) with its customers. Generally, enforceable rights and obligations for goods and services occur only when a customer places a purchase order or statement of work to obtain goods or services under an MSA. The contract term as defined by ASC 606 is the length of time it takes to deliver the goods or services promised under the purchase order or statement of work. As such, the Company's contracts are generally short term in nature.