Revenue

6 Months Ended

Jun. 30, 2020

Revenue from Contract with Customer [Abstract]

Disaggregation of revenue

We disaggregate our revenue from contracts with customers by geographic location and vertical for each of our segments, as we believe these best depict how the nature, amount, timing and uncertainty of our revenue and cash flows are affected by economic factors.

Geographic net sales information, based on geographic destination of the sale, was as follows:


	Three months ended June 30, 2020
In millions	Enclosures		Thermal Management		Electrical & Fastening Solutions		Total
U.S. and Canada	$	140.8	$	51.2	$	100.6	$	292.6
Developed Europe ⁽¹⁾	55.5		24.0		21.4		100.9
Developing ⁽²⁾	19.6		16.4		6.3		42.3
Other Developed ⁽³⁾	3.4		4.2		3.8		11.4
Total	$	219.3	$	95.8	$	132.1	$	447.2


	Six months ended June 30, 2020
In millions	Enclosures		Thermal Management		Electrical & Fastening Solutions		Total
U.S. and Canada	$	314.9	$	121.8	$	203.1	$	639.8
Developed Europe⁽¹⁾	117.4		53.6		48.6		219.6
Developing ⁽²⁾	39.0		33.3		15.0		87.3
Other Developed ⁽³⁾	6.5		7.6		7.3		21.4
Total	$	477.8	$	216.3	$	274.0	$	968.1


	Three months ended June 30, 2019
In millions	Enclosures		Thermal Management		Electrical & Fastening Solutions		Total
U.S. and Canada	$	186.1	$	73.4	$	109.6	$	369.1
Developed Europe ⁽¹⁾	47.5		30.2		28.2		105.9
Developing ⁽²⁾	23.6		21.9		9.5		55.0
Other Developed ⁽³⁾	2.8		3.3		3.4		9.5
Total	$	260.0	$	128.8	$	150.7	$	539.5


	Six months ended June 30, 2019
In millions	Enclosures		Thermal Management		Electrical & Fastening Solutions		Total
U.S. and Canada	$	366.5	$	157.3	$	207.0	$	730.8
Developed Europe⁽¹⁾	98.4		65.3		54.8		218.5
Developing⁽²⁾	45.3		42.9		19.6		107.8
Other Developed⁽³⁾	5.3		8.4		6.7		20.4
Total	$	515.5	$	273.9	$	288.1	$	1,077.5
⁽¹⁾ Developed Europe includes Western Europe and Eastern Europe included in European Union.
⁽²⁾ Developing includes China, Eastern Europe not included in European Union, Latin America, Middle East and Southeast Asia.
⁽³⁾ Other Developed includes Australia and Japan.

Vertical net sales information was as follows:


	Three months ended June 30, 2020
In millions	Enclosures		Thermal Management		Electrical & Fastening Solutions		Total
Industrial	$	133.6	$	35.7	$	25.9	$	195.2
Commercial & Residential	23.7		32.8		72.1		128.6
Energy	18.5		26.1		15.4		60.0
Infrastructure	43.5		1.2		18.7		63.4
Total	$	219.3	$	95.8	$	132.1	$	447.2


	Six months ended June 30, 2020
In millions	Enclosures		Thermal Management		Electrical & Fastening Solutions		Total
Industrial	$	290.1	$	82.2	$	51.9	$	424.2
Commercial & Residential	55.4		72.6		154.2		282.2
Energy	45.3		58.7		30.4		134.4
Infrastructure	87.0		2.8		37.5		127.3
Total	$	477.8	$	216.3	$	274.0	$	968.1


	Three months ended June 30, 2019
In millions	Enclosures		Thermal Management		Electrical & Fastening Solutions		Total
Industrial	$	154.8	$	54.7	$	29.9	$	239.4
Commercial & Residential	26.7		39.9		87.9		154.5
Energy	26.2		31.9		14.7		72.8
Infrastructure	52.3		2.3		18.2		72.8
Total	$	260.0	$	128.8	$	150.7	$	539.5


	Six months ended June 30, 2019
In millions	Enclosures		Thermal Management		Electrical & Fastening Solutions		Total
Industrial	$	309.9	$	113.4	$	56.6	$	479.9
Commercial & Residential	49.3		84.4		167.8		301.5
Energy	52.1		72.0		28.2		152.3
Infrastructure	104.2		4.1		35.5		143.8
Total	$	515.5	$	273.9	$	288.1	$	1,077.5

Contract balances

Contract assets and liabilities consisted of the following:


In millions	June 30, 2020		December 31, 2019		$ Change		% Change
Contract assets	$	56.1	$	69.4	$	(13.3)	(19.2)	%
Contract liabilities	13.1		13.7		(0.6)		(4.4)	%

Net contract assets	$	43.0	$	55.7	$	(12.7)	(22.8)	%

The $12.7 million decrease in net contract assets from December 31, 2019 to June 30, 2020 was primarily the result of timing of milestone payments. The majority of our contract liabilities at December 31, 2019 were recognized in revenue during the six months ended June 30, 2020. There were no material impairment losses recognized on our contract assets for the three months or six months ended June 30, 2020.

Remaining performance obligations

We have elected the practical expedient to disclose only the value of remaining performance obligations for contracts with an original expected length of one year or more. On June 30, 2020, we had $98.5 million of remaining performance obligations on contracts with an original expected duration of one year or more. We expect to recognize the majority of our remaining performance obligations on these contracts within the next 12 to 18 months.