Contract Assets and Liabilities (Tables)

12 Months Ended

Dec. 31, 2020

Deferred Income Tax Expense Benefit Provision For Gain Loss On Extinguishment Of Debt

Schedule of Contract Assets and Contract Liabilities

Contract assets and Contract liabilities (included in Accrued liabilities) are reported in the Consolidated Balance Sheets in a net position, on a contract-by-contract basis at the end of each reporting period. Contract assets and contract liabilities are summarized as follows:

(in thousands)	December 31, 2020		December 31, 2019
Contract assets	$	140,348	$	79,070
Allowance for expected credit losses	(1,059)		—
Contract assets, net	$	139,289	$	79,070
Contract liabilities	$	8,206	$	5,656

Contract with Customer, Contract Asset, Contract Liability, and Receivable

The following table presents the 2020 (increases)/ decreases in the allowance for credit losses for Contract assets:

(in thousands)	December 31, 2019		CECL transition adjustment		Charges		Currency translation		Other		December 31, 2020
Contract assets expected credit losses	$	—	$	(403)	$	(657)	$	(5)	$	6	$	(1,059)