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REVENUE REVENUE
 9 Months Ended
Sep. 30, 2019
Revenue from Contract with Customer [Abstract]  
Revenue from Contract with Customer [Text Block]
REVENUE
The following table represents our revenue disaggregated by end market for the three and nine months ended September 30, 2019 and 2018.
For the Three Months Ended September 30, 2019
Motion Technologies
Industrial Process
Connect & Control Technologies
Eliminations
Total
Automotive and rail
 
$
301.1

 
 
$
—

 
 
$
—

 
 
$
—

 
 
$
301.1

 
Chemical and industrial pumps
 
—

 
 
185.7

 
 
—

 
 
—

 
 
185.7

 
Aerospace and defense
 
1.1

 
 
—

 
 
104.0

 
 
—

 
 
105.1

 
Oil and gas
 
—

 
 
54.6

 
 
11.4

 
 
—

 
 
66.0

 
General industrial
 
2.3

 
 
—

 
 
52.5

 
 
(0.8
)
 
 
54.0

 
Total
 
$
304.5

 
 
$
240.3

 
 
$
167.9

 
 
$
(0.8
)
 
 
$
711.9

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
For the Nine Months Ended September 30, 2019
 
 
 
 
Automotive and rail
 
$
923.2

 
 
$
—

 
 
$
—

 
 
$
(0.1
)
 
 
$
923.1

 
Chemical and industrial pumps
 
—

 
 
515.9

 
 
—

 
 
—

 
 
515.9

 
Aerospace and defense
 
6.2

 
 
—

 
 
308.8

 
 
—

 
 
315.0

 
Oil and gas
 
—

 
 
172.7

 
 
30.0

 
 
—

 
 
202.7

 
General industrial
 
8.0

 
 
—

 
 
164.3

 
 
(1.7
)
 
 
170.6

 
Total
 
$
937.4

 
 
$
688.6

 
 
$
503.1

 
 
$
(1.8
)
 
 
$
2,127.3

 

For the Three Months Ended September 30, 2018
Motion Technologies
Industrial Process
Connect & Control Technologies
Eliminations
Total
Automotive and rail
 
$
305.4

 
 
$
—

 
 
$
—

 
 
$
—

 
 
$
305.4

 
Chemical and industrial pumps
 
—

 
 
145.6

 
 
—

 
 
—

 
 
145.6

 
Aerospace and defense
 
1.3

 
 
—

 
 
92.9

 
 
—

 
 
94.2

 
Oil and gas
 
—

 
 
59.4

 
 
12.5

 
 
—

 
 
71.9

 
General industrial
 
3.6

 
 
—

 
 
60.6

 
 
(0.7
)
 
 
63.5

 
Total
 
$
310.3

 
 
$
205.0

 
 
$
166.0

 
 
$
(0.7
)
 
 
$
680.6

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
For the Nine Months Ended September 30, 2018
 
 
 
 
Automotive and rail
 
$
966.5

 
 
$
—

 
 
$
—

 
 
$
(0.1
)
 
 
$
966.4

 
Chemical and industrial pumps
 
—

 
 
440.3

 
 
—

 
 
—

 
 
440.3

 
Aerospace and defense
 
5.8

 
 
—

 
 
276.6

 
 
—

 
 
282.4

 
Oil and gas
 
—

 
 
157.7

 
 
31.6

 
 
—

 
 
189.3

 
General industrial
 
10.5

 
 
—

 
 
179.8

 
 
(2.0
)
 
 
188.3

 
Total
 
$
982.8

 
 
$
598.0

 
 
$
488.0

 
 
$
(2.1
)
 
 
$
2,066.7

 

Contract Assets and Liabilities
Contract assets consist of unbilled amounts where revenue recognized exceeds customer billings. Contract liabilities consist of advance payments and billings in excess of revenue recognized. The following table represents our net contract assets and liabilities as of September 30, 2019 and December 31, 2018.
 
September 30,
2019
December 31,
2018
Change
Current contract assets
 
$
33.6

 
 
$
21.8

 
 
54.1
 %
 
Non-current contract assets
 
—

 
 
0.7

 
 
(100.0
)%
 
Current contract liabilities
 
(52.7
)
 
 
(61.0
)
 
 
(13.6
)%
 
Net contract liabilities
 
$
(19.1
)
 
 
$
(38.5
)
 
 
(50.4
)%
 

During the three and nine months ended September 30, 2019, we recognized revenue of $9.2 and $41.6, related to contract liabilities as of December 31, 2018.
Remaining Performance Obligations
For contracts greater than one year, the aggregate amount of the transaction price allocated to unsatisfied or partially satisfied performance obligations as of September 30, 2019 was $98.9. Of this amount, we expect to recognize approximately $15 to $20 of revenue during 2019, approximately $65 to $75 in 2020, and the remainder thereafter.