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REVENUE REVENUE
 3 Months Ended
Mar. 31, 2020
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 months ended March 31, 2020 and 2019.
For the Three Months Ended March 31, 2020
Motion Technologies
Industrial Process
Connect & Control Technologies
Eliminations
Total
Auto and rail
 
$
292.4

 
 
$
—

 
 
$
—

 
 
$
(0.1
)
 
 
$
292.3

 
Chemical and industrial pumps
 
—

 
 
161.5

 
 
—

 
 
—

 
 
161.5

 
Aerospace and defense
 
2.9

 
 
—

 
 
86.1

 
 
—

 
 
89.0

 
Oil and gas
 
—

 
 
65.8

 
 
7.8

 
 
—

 
 
73.6

 
General industrial
 
2.6

 
 
—

 
 
44.8

 
 
(0.5
)
 
 
46.9

 
Total
 
$
297.9

 
 
$
227.3

 
 
$
138.7

 
 
$
(0.6
)
 
 
$
663.3

 

For the Three Months Ended March 31, 2019
Motion Technologies
Industrial Process
Connect & Control Technologies
Eliminations
Total
Auto and rail
 
$
310.0

 
 
$
—

 
 
$
—

 
 
$
—

 
 
$
310.0

 
Chemical and industrial pumps
 
—

 
 
161.5

 
 
—

 
 
—

 
 
161.5

 
Aerospace and defense
 
2.3

 
 
—

 
 
99.5

 
 
—

 
 
101.8

 
Oil and gas
 
—

 
 
54.2

 
 
8.5

 
 
—

 
 
62.7

 
General industrial
 
2.9

 
 
—

 
 
57.0

 
 
(0.4
)
 
 
59.5

 
Total
 
$
315.2

 
 
$
215.7

 
 
$
165.0

 
 
$
(0.4
)
 
 
$
695.5

 

Contract Assets and Liabilities
Contract assets consist of unbilled amounts where revenue recognized exceeds customer billings, net of allowances for credit losses. 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 March 31, 2020 and December 31, 2019.
 
March 31,
2020
December 31,
2019
Change
Current contract assets, net
 
$
15.6

 
 
$
18.0

 
 
(13.3
)%
 
Current contract liabilities
 
(51.2
)
 
 
(57.4
)
 
 
(10.8
)%
 
Net contract liabilities
 
$
(35.6
)
 
 
$
(39.4
)
 
 
(9.6
)%
 

During the three months ended March 31, 2020, we recognized revenue of $32.8, related to contract liabilities as of December 31, 2019. The aggregate amount of the transaction price allocated to unsatisfied or partially satisfied performance obligations as of March 31, 2020 was $841.0. Of this amount, we expect to recognize approximately $695 to $715 of revenue during 2020.