18.

Revenue

Our primary source of revenue is the sale of glass tableware products manufactured within a Libbey facility as well as globally sourced tabletop products, including glassware, ceramicware, metalware and others. For the years ended

December

31,

2019

and

2018,

bad debt expense was immaterial. Additionally, adjustments related to revenue recognized in prior periods was immaterial for

2019

and

2018.

There were

material contract assets, contract liabilities or deferred contract costs recorded on the Consolidated Balance Sheets as of

December

31,

2019

and

2018.

Disaggregation of Revenue:

The following table presents our net sales disaggregated by business channel:

Year ended December 31,
(dollars in thousands)	2019		2018
Foodservice	$	319,766	$	327,550
Retail		252,256		256,646
Business-to-business		210,415		213,662
Consolidated	$	782,437	$	797,858

Each operating segment has revenues across all our business channels. Each channel has a different marketing strategy, customer base and product composition. Over

percent of each segment’s revenue is derived from the following business channels: U.S. & Canada from foodservice and retail; Latin America from retail and business-to-business; and EMEA from retail and business-to-business.

Foodservice

The majority of our tabletop products sold in the foodservice channel are sold through a network of foodservice distributors. Our strong foodservice distributor network and in-house sales force provide broad coverage to a wide variety of foodservice establishments, including restaurants, bars, hotels and other travel and tourism venues. A high percentage of foodservice sales are replacements, driving a relatively predictable revenue stream.

Retail

Our primary customers in the retail channel include mass merchants, department stores, national retail chains, pure play e-commerce retailers or marketers, retail and wholesale distributors, value-oriented retailers, grocers and specialty housewares stores. We also operate outlet stores in the U.S., Mexico and Portugal.

Business-to-business

Our customers for products sold in the diverse business-to-business channel include beverage companies and custom decorators of glass tableware for promotional purposes and resale. In addition, sales of our products in this channel include products for candle and floral applications, craft industries and gourmet food-packing companies. Our Latin America region also sells blender jars and various OEM products in this channel.