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Revenue from Contracts with Customers
 9 Months Ended
Sep. 30, 2020
Revenue from Contract with Customer [Abstract]  
Revenue from Contracts with Customers Revenue from Contracts with CustomersThe Company accounts for revenue in accordance with ASC 606, "Revenue from Contracts with Customers". Revenues are generated from the design and manufacture of specialty engineered filtration media, industrial thermal insulating solutions, automotive thermal and acoustical barriers for filtration/separation and thermal/acoustical applications. The Company’s revenue recognition policies require the Company to make significant judgments and estimates. In applying the Company’s revenue recognition policy, determinations must be made as to when control of products passes to the Company’s customers which can be either at a point in time or over time. Revenue is generally recognized at a point in time when control passes to customers upon shipment of the Company’s products and revenue is generally recognized over time when control of the Company’s products transfers to customers during the manufacturing process. The Company analyzes several factors, including but not limited to, the nature of the products being sold and contractual terms and conditions in contracts with customers to help the
Company make such judgments about revenue recognition. Unfulfilled performance obligations are generally expected to be satisfied within one year.
Contract Assets and Liabilities

The Company’s contract assets primarily include unbilled amounts typically resulting from sales under contracts when the over time method of revenue recognition is utilized and revenue recognized exceeds the amount billed to the customer. These unbilled accounts receivable in contract assets are transferred to accounts receivable upon invoicing, typically when the right to payment becomes unconditional in which case payment is due based only upon the passage of time.

The Company’s contract liabilities primarily relate to billings and advance payments received from customers and deferred revenue. These contract liabilities represent the Company’s obligation to transfer its products to its customers for which the Company has received, or is owed consideration from its customers. Contract liabilities are included in Other long-term liabilities on the Company’s Condensed Consolidated Balance Sheets.

Contract assets and liabilities consisted of the following:
In thousandsSeptember 30, 2020December 31, 2019Dollar Change
Contract assets$27,186 $28,245 $(1,059)
Contract liabilities$3,414 $1,441 $1,973 

The $1.1 million decrease in contact assets from December 31, 2019 to September 30, 2020 was primarily due to timing of billings to customers.

The $2.0 million increase in contract liabilities from December 31, 2019 to September 30, 2020 was primarily due to an increase in customer deposits, offset by $1.1 million of revenue recognized in the first nine months of 2020 related to contract liabilities at December 31, 2019.

Disaggregated Revenue

The Company disaggregates revenue from customers by geographic region, as it believes this disclosure best depicts how the nature, amount, timing, and uncertainty of the Company's revenues and cash flows are affected by economic factors. Disaggregated revenue by geographical region for the three-month and nine-month periods ended September 30, 2020 and 2019 were as follows:

For the Three Months Ended September 30, 2020For the Three Months Ended September 30, 2019
In thousandsNorth AmericaEuropeAsiaTotal Net SalesNorth AmericaEuropeAsiaTotal Net Sales
Performance Materials$45,759 $18,776 $3,282 $67,817 $42,693 $15,203 $2,104 $60,000 
Technical Nonwovens34,727 17,318 6,464 58,509 42,128 16,544 5,240 63,912 
Thermal Acoustical Solutions57,841 22,861 4,821 85,523 61,315 22,208 4,403 87,926 
Eliminations and Other(4,569)(195)— (4,764)(6,405)(159)— (6,564)
Total Net Sales$133,758 $58,760 $14,567 $207,085 $139,731 $53,796 $11,747 $205,274 
For the Nine Months Ended September 30, 2020For the Nine Months Ended September 30, 2019
In thousandsNorth AmericaEuropeAsiaTotal Net SalesNorth AmericaEuropeAsiaTotal Net Sales
Performance Materials$131,866 $52,552 $7,092 $191,510 $136,892 $47,589 $5,201 $189,682 
Technical Nonwovens101,694 49,674 16,551 167,919 121,984 53,384 23,228 198,596 
Thermal Acoustical Solutions137,517 57,825 11,390 206,732 189,152 73,853 12,506 275,511 
Eliminations and Other(11,914)(475)— (12,389)(19,139)(540)— (19,679)
Total Net Sales$359,163 $159,576 $35,033 $553,772 $428,889 $174,286 $40,935 $644,110