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Contract Assets and Liabilities
 12 Months Ended
Dec. 31, 2024
Revenue from Contract with Customer [Abstract]  
Contract Assets and Liabilities Disaggregated Revenue Disclosures
The following tables show disaggregated net sales by reportable segment (Note 23) by major product brand, net of intercompany sales eliminations.
SegmentBrands ProducedBrand Products
AAON OklahomaAAON Rooftop units and aftermarket parts
AAON Coil ProductsAAON / BASXCondensing units, air handling products, data center cooling solutions, and geothermal/water-source heat pumps
BASXBASX
Data center cooling solutions, cleanroom products, and air handling products
Year Ended December 31, 2024
AAON OklahomaAAON Coil ProductsBASXTotal
(in thousands)
AAON Products$858,711 $116,931 $— $975,642 
BASX Products— 26,940 198,053 224,993 
$858,711 $143,871 $198,053 $1,200,635 
Year Ended December 31, 2023
AAON OklahomaAAON Coil ProductsBASXTotal
(in thousands)
AAON Products$897,919 $104,073 $— $1,001,992 
BASX Products— 8,247 158,279 166,526 
$897,919 $112,320 $158,279 $1,168,518 
Year Ended December 31, 2022
AAON OklahomaAAON Coil ProductsBASXTotal
(in thousands)
AAON Products$663,845 $107,290 $— $771,135 
BASX Products— — 117,653 117,653 
$663,845 $107,290 $117,653 $888,788 

Aftermarket part sales were $76.9 million, $67.7 million, $53.6 million for each of the years ended December 31, 2024, 2023, and 2022, respectively.
Contract Assets and Liabilities
Opening and closing balances of contract assets and contract liabilities are as follows:
 December 31,
 202420232022
 (in thousands)
Contract assets$135,820 $45,194 $15,151 
Less:  Allowance for credit losses(399)— — 
Contract assets, net135,421 45,194 15,151 
Contract liabilities(14,913)(13,757)(21,424)
     Total, net$120,508 $31,437 $(6,273)

Costs and estimated earnings on uncompleted contracts and related billings are as follows:
 December 31,
 20242023
 (in thousands)
Costs incurred on uncompleted contracts$133,593 $92,394 
Estimated earnings97,074 66,280 
230,667 158,674 
Less: Contract billings to date(112,786)(127,433)
Less: Allowance for credit losses(399)— 
Plus: Completed contracts, unbilled3,026 196 
     Total, net$120,508 $31,437 
Revenue recognized in the reporting period that was included in the contract liability balance at the beginning of the period was $12.5 million, $21.4 million, and $7.5 million for each of the years ended December 31, 2024, 2023, and 2022, respectively. Typically, we expect to satisfy performance obligations relating to uncompleted in-process contracts within one year or less, however, timing of performance obligations can vary from timing of payment, production scheduling and timing of customer installation requirements. Increases in contract assets are mainly due to the increased production and increased demand of our BASX branded products.