REVENUE

The following tables present our revenues disaggregated by reportable business segment and geography as they best depict how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors.

Revenues by business segment were as follows:



	2018		2017		2016
	(Dollars in thousands)
Metal containers	$	2,377,980	$	2,278,054	$	2,271,933
Closures	1,456,799		1,246,669		797,074
Plastic containers	614,096		565,131		543,907
	$	4,448,875	$	4,089,854	$	3,612,914

Revenues by geography were as follows:



	2018		2017		2016
	(Dollars in thousands)
North America	$	3,516,045	$	3,268,126	$	3,029,270
Europe and other	932,830		821,728		583,644
	$	4,448,875	$	4,089,854	$	3,612,914

Our contracts generally include standard commercial payment terms generally acceptable in each region. We do not provide financing with extended payment terms beyond generally standard commercial payment terms for the applicable industry. We have no significant obligations for refunds, warranties or similar obligations.

Trade accounts receivable, net are shown separately on our Consolidated Balance Sheet. Contract assets are the result of the timing of revenue recognition, billings and cash collections. Our contract assets primarily consist of unbilled accounts receivable related to over time revenue recognition and were $72.5 million as of December 31, 2018. Unbilled receivables are included in trade accounts receivable, net on our Consolidated Balance Sheet. Had we not adopted the amended guidance for revenue recognition on January 1, 2018, our trade accounts receivable, net would have been $438.8 million and our inventories would have been $694.6 million as of December 31, 2018.