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Revenue
 12 Months Ended
Dec. 31, 2018
Revenue From Contract With Customer [Abstract]  
Revenue

Note 16 – Revenue

The Company’s revenues are generated primarily from the sale of manufactured products built to customer specifications. The Company also generates revenue from design, development and engineering services, in addition to the sale of other inventory.

Revenue is measured based on the consideration specified in a contract with a customer. The Company recognizes revenue when it satisfies a performance obligation by transferring control over a manufactured product to a customer. The Company’s contracts with customers are generally short-term in nature. Customers are generally billed when the product is shipped or as services are performed. Under the majority of the Company’s manufacturing contracts with customers, the customer controls all of the work-in-progress as products are being built. Revenues under these contracts are recognized progressively based on the cost-to-cost method. For other manufacturing contracts, the customer does not take control of the product until it is completed. Under these contracts, the Company recognizes revenue upon transfer of control of the product to the customer. Revenue from design, development and engineering services is recognized over time as the services are performed. The Company assumes no significant obligations after shipment as it typically warrants workmanship only. Therefore, the warranty provisions are generally not significant.

If the Company records revenue, but does not issue an invoice, a contract asset is recognized. The contract asset is transferred to accounts receivable when the entitlement to payment becomes unconditional.

Taxes assessed by governmental authorities that are both imposed on and concurrent with a specific revenue-producing transaction, that are collected by the Company from a customer, are excluded from revenue.

Shipping and handling costs associated with outbound freight after control over a product has transferred to a customer are accounted for as fulfillment costs and are included in cost of sales.

Disaggregation of revenue

In the following tables, revenue is disaggregated by market sector. The tables also include a reconciliation of the disaggregated revenue with the reportable operating segments.

Reportable Operating Segments
Year Ended December 31, 2018
(in thousands)AmericasAsiaEuropeTotal
Market Sector:
Industrials$184,500$241,765$66,798$493,063
A&D374,852—31,550406,402
Medical235,287144,52814,152393,967
Test and instrumentation155,687135,29963,992354,978
Computing504,39169,6576,797580,845
Telecommunications162,813171,5202,877337,210
External revenue1,617,530762,769186,1662,566,465
Elimination of intersegment sales29,87238,54335168,766
Segment revenue$1,647,402$801,312$186,517$2,635,231
Year Ended December 31, 2017 (as adjusted)
AmericasAsiaEuropeTotal
Market Sector:
Industrials$213,699$213,504$69,233$496,436
A&D361,2002,43028,060391,690
Medical204,677149,65019,458373,785
Test and instrumentation158,151140,96747,223346,341
Computing444,40185,9889,971540,360
Telecommunications172,122130,9542,791305,867
External revenue1,554,250723,493176,7362,454,479
Elimination of intersegment sales30,47954,12321884,820
Segment revenue$1,584,729$777,616$176,954$2,539,299

Year Ended December 31, 2016 (as adjusted)
(in thousands)AmericasAsiaEuropeTotal
Market Sector:
Industrials$307,261$176,184$60,358$543,803
A&D333,3831,11335,178369,674
Medical190,167136,39819,409345,974
Test and instrumentation125,68090,70827,019243,407
Computing369,71966,69510,768447,182
Telecommunications239,779129,0613,405372,245
External revenue1,565,989600,159156,1372,322,285
Elimination of intersegment sales23,94453,7291,70079,373
Segment revenue$1,589,933$653,888$157,837$2,401,658

During 2018, 2017 and 2016, 93.0%, 93.4% and 92.7%, respectively, of the Company’s revenue was recognized as products and services are transferred over time.