Revenue

3 Months Ended

Mar. 31, 2020

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 for the three months ended March 31 were as follows:


	2020		2019
	(Dollars in thousands)
Metal containers	$	508,519	$	507,062
Closures	357,151		356,199
Plastic containers	164,714		163,870
	$	1,030,384	$	1,027,131

Revenues by geography for the three months ended March 31 were as follows:


	2020		2019
	(Dollars in thousands)
North America	$	822,405	$	810,741
Europe and other	207,979		216,390
	$	1,030,384	$	1,027,131

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 Condensed 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 $68.9 million, $75.3 million, and $71.1 million as of March 31, 2020 and 2019 and December 31, 2019, respectively. Unbilled receivables are included in trade accounts receivable, net on our Condensed Consolidated Balance Sheet.