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REVENUES FROM CONTRACTS
 6 Months Ended
Jun. 27, 2020
Revenue from Contract with Customer [Abstract]  
Revenue from Contracts REVENUES FROM CONTRACTS
Disaggregated Revenues

We disaggregate revenue from contracts with customers by major product line and based on the timing of recognition for each of our reportable segments and other operating segments, as we believe such disaggregation best depicts how the nature, amount, timing, and uncertainty of our revenues and cash flows are affected by economic factors, with such disaggregation presented below for the three and six months ended June 27, 2020 and June 29, 2019:

Three months ended June 27, 2020
Reportable Segments and All OtherHVACDetection and MeasurementEngineered SolutionsAll OtherTotal
Major product lines
Cooling$76.6  $—  $—  $—  $76.6  
Boilers, comfort heating, and ventilation55.7  —  —  —  55.7  
Underground locators and inspection and rehabilitation
equipment 		—  47.3  —  —  47.3  
Signal monitoring, obstruction lighting, and bus fare collection systems—  44.8  —  —  44.8  
Power transformers—  —  113.9  —  113.9  
Process cooling equipment and services, and heat exchangers—  —  32.9  1.7  34.6  
South African projects—  —  —  0.3  0.3  
$132.3  $92.1  $146.8  $2.0  $373.2  
Timing of Revenue Recognition
Revenues recognized at a point in time$132.3  $85.7  $11.6  $0.7  $230.3  
Revenues recognized over time—  6.4  135.2  1.3  142.9  
$132.3  $92.1  $146.8  $2.0  $373.2  
Six months ended June 27, 2020
Reportable Segments and All OtherHVACDetection and MeasurementEngineered SolutionsAll OtherTotal
Major product lines
Cooling$134.5  $—  $—  $—  $134.5  
Boilers, comfort heating, and ventilation116.3  —  —  —  116.3  
Underground locators and inspection and rehabilitation equipment—  96.0  —  —  96.0  
Signal monitoring, obstruction lighting, and bus fare collection systems—  88.0  —  —  88.0  
Power transformers—  —  224.5  —  224.5  
Process cooling equipment and services, and heat exchangers—  —  77.2  3.6  80.8  
South African projects—  —  —  2.4  2.4  
$250.8  $184.0  $301.7  $6.0  $742.5  
Timing of Revenue Recognition
Revenues recognized at a point in time$250.8  $169.2  $23.2  $2.0  $445.2  
Revenues recognized over time—  14.8  278.5  4.0  297.3  
$250.8  $184.0  $301.7  $6.0  $742.5  
Three months ended June 29, 2019
Reportable Segments and All OtherHVACDetection and MeasurementEngineered SolutionsAll OtherTotal
Major product lines
Cooling$67.0  $—  $—  $—  $67.0  
Boilers, comfort heating, and ventilation63.9  —  —  —  63.9  
Underground locators and inspection and rehabilitation
equipment 		—  52.6  —  —  52.6  
Signal monitoring, obstruction lighting, and bus fare collection systems—  49.1  —  —  49.1  
Power transformers—  —  104.6  —  104.6  
Process cooling equipment and services, and heat exchangers—  —  34.4  3.1  37.5  
South African projects (1)
—  —  —  (2.3) (2.3) 
$130.9  $101.7  $139.0  $0.8  $372.4  
Timing of Revenue Recognition
Revenues recognized at a point in time$130.9  $96.1  $12.9  $0.5  $240.4  
Revenues recognized over time (1)
—  5.6  126.1  0.3  132.0  
$130.9  $101.7  $139.0  $0.8  $372.4  
Six months ended June 29, 2019
Reportable Segments and All OtherHVACDetection and MeasurementEngineered SolutionsAll OtherTotal
Major product lines
Cooling$125.9  $—  $—  $—  $125.9  
Boilers, comfort heating, and ventilation133.4  —  —  —  133.4  
Underground locators and inspection and rehabilitation equipment—  99.7  —  —  99.7  
Signal monitoring, obstruction lighting, and bus fare collection systems—  87.1  —  —  87.1  
Power transformers—  —  203.4  —  203.4  
Process cooling equipment and services, and heat exchangers—  —  73.6  6.8  80.4  
South African projects (1)
—  —  —  (13.9) (13.9) 
$259.3  $186.8  $277.0  $(7.1) $716.0  
Timing of Revenue Recognition
Revenues recognized at a point in time$259.3  $175.7  $25.4  $1.6  $462.0  
Revenues recognized over time (1)
—  11.1  251.6  (8.7) 254.0  
$259.3  $186.8  $277.0  $(7.1) $716.0  

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(1) As further discussed below, during the three and six months ended June 29, 2019, we reduced the amount of revenue associated with the large power projects in South Africa by $6.0 and $23.5, respectively.

Contract Balances

Our customers are invoiced for products and services at the time of delivery or based on contractual milestones, resulting in outstanding receivables with payment terms from these customers (“Contract Accounts Receivable”). In some cases, the timing of revenue recognition, particularly for revenue recognized over time, differs from when such amounts are invoiced to customers, resulting in a contract asset (revenue recognition precedes the invoicing of the related revenue amount) or a contract liability (payment from the customer precedes recognition of the related revenue amount). Contract assets and liabilities are generally classified as current. On a contract-by-contract basis, the contract assets and contract liabilities are reported net within our condensed consolidated balance sheets. Our contract balances consisted of the following as of June 27, 2020 and December 31, 2019:

Contract BalancesJune 27, 2020December 31, 2019Change
Contract Accounts Receivable(1)
$231.4  $260.8  $(29.4) 
Contract Assets65.5  63.4  2.1  
Contract Liabilities - current(91.1) (100.8) 9.7  
Contract Liabilities - non-current(2)
(3.0) (3.3) 0.3  
Net contract balance$202.8  $220.1  $(17.3) 
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(1) Included in “Accounts receivable, net” within the accompanying condensed consolidated balance sheets.
(2) Included in “Other long-term liabilities” within the accompanying condensed consolidated balance sheets.
The $17.3 decrease in our net contract balance from December 31, 2019 to June 27, 2020 was due primarily to cash payments received from customers during the period, partially offset by revenue recognized during the period.
During the three and six months ended June 27, 2020, we recognized revenues of $19.6 and $64.2, respectively, related to our contract liabilities at December 31, 2019.
Performance Obligations

As of June 27, 2020, the aggregate amount allocated to remaining performance obligations was $79.7. We expect to recognize revenue on approximately 47% and 64% of remaining performance obligations over the next 12 and 24 months, respectively, with the remaining recognized thereafter.
Variable Consideration
During February, March, and April of 2019, we received a number of claims from the prime contractors on the large power projects in South Africa asserting various amounts of damages. In consideration of these claims (including the magnitude of the claims and claims in areas that had not been previously identified by the prime contractors), and in accordance with ASC
606, we analyzed the risk of a significant revenue reversal associated with the amount of variable consideration that had been recorded for the projects. Based on such analysis, we reduced the amount of cumulative revenue associated with the variable consideration on the large power projects in South Africa by $17.5 during the first quarter of 2019, as it was no longer probable that such amounts of revenue would not be reversed.

On June 28, 2019, our South African subsidiary, DBT, reached an agreement with Alstom S&E Africa (PTY) LTD (“Alstom/GE”), one of the prime contractors on the large power projects in South Africa, to, among other things, settle all material outstanding claims between the parties (other than certain pass-through claims relating to third parties). In connection with the agreement, we reduced the amount of cumulative revenue associated with variable consideration on the large power projects in South Africa by $5.8 during the three months ended June 29, 2019.
As of June 27, 2020, there was $0.3 of cumulative revenue associated with variable consideration recorded for the large power projects in South Africa.