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Revenue Recognition
6 Months Ended
Jun. 28, 2020
Revenue from Contract with Customer [Abstract]  
Revenue Recognition Revenue Recognition
The Company records revenue when control is transferred to the customer, which is either upon shipment or over time in cases where the Company is entitled to payment with margin for products produced that are customer specific without alternative use. The Company recognizes over time revenue under the input method as goods are produced. Revenue that is recognized at a point in time is recognized when the customer obtains control of the goods. Customers obtain control either when goods are delivered to the customer facility, if the Company is responsible for arranging transportation, or when picked up by the customer's designated carrier. The Company commonly enters into Master Supply Arrangements with customers to provide goods and/or services over specific time periods. Customers submit purchase orders with quantities and prices to create a contract for accounting purposes. Shipping and handling expenses are included in "Cost of Sales," and freight charged to customers is included in "Net Sales" in the Company's Condensed Consolidated Statements of Income.
The Company has rebate agreements with certain customers. These rebates are recorded as reductions of revenue and are accrued using sales data and rebate percentages specific to each customer agreement. Accrued customer rebates are included in "Accrued expenses and other" in the Company's Condensed Consolidated Balance Sheets.
Payment terms under the Company's sales arrangements are short term, generally no longer than 120 days. The Company does provide prompt payment discounts to certain customers if invoices are paid within a predetermined period. Prompt payment discounts are treated as a reduction of revenue and are determinable within a short period of the sale.
The following table sets forth information about receivables, contract assets, and liabilities from contracts with customers. Contract assets and liabilities are reported in "Other receivables" and "Accrued expenses and other," respectively, on the Company's Condensed Consolidated Balance Sheets.
June 28, 2020December 31, 2019
Contract Assets$62,289  $56,364  
Contract Liabilities$(16,435) $(17,047) 

Significant changes in the contract assets and liabilities balances during the period were as follows:
June 28, 2020December 31, 2019
Contract
Asset
Contract
Liability
Contract
Asset
Contract
Liability
Beginning Balance$56,364  $(17,047) $48,786  $(18,533) 
Revenue deferred or rebates accrued—  (15,102) —  (29,062) 
Recognized as revenue3,893  8,473  
Rebates paid to customers—  11,821  —  22,075  
Increases due to rights to consideration for customer specific goods produced, but not billed during the period62,289  —  51,797  —  
Transferred to receivables from contract assets recognized at the beginning of the period(56,364) —  (48,786) —  
Acquired as part of a business combination—  —  4,567  —  
Ending Balance$62,289  $(16,435) $56,364  $(17,047) 

Contract assets and liabilities are generally short in duration given the nature of products produced by the Company. Contract assets represent goods produced without alternative use for which the Company is entitled to payment with margin prior to shipment. Upon shipment, the Company is entitled to bill the customer, and therefore amounts included in contract assets will be reduced with the recording of an account receivable as they represent an unconditional right to payment. Contract liabilities represent revenue deferred due to pricing mechanisms utilized by the Company in certain multi-year arrangements, volume rebates, and payments received in advance. For multi-year arrangements with pricing mechanisms, the Company will generally defer revenue during the first half of the arrangement, and will release the deferral over the back half of the contract term. The Company's reportable segments are aligned by product nature as disclosed in Note 15.
The following tables set forth information about revenue disaggregated by primary geographic regions, and timing of revenue recognition for the three-month periods ended June 28, 2020 and June 30, 2019. The tables also include a reconciliation of disaggregated revenue with reportable segments.
Three months ended June 28, 2020Consumer
Packaging
Display and
Packaging
Paper and
Industrial
Converted
Products
Protective
Solutions
Total
Primary Geographical Markets:
  United States$448,546  $47,804  $259,178  $73,777  $829,305  
  Europe102,327  59,499  75,279  5,411  242,516  
  Canada26,732  —  20,995  —  47,727  
  Asia17,745  —  52,799  186  70,730  
  Other19,271  —  26,201  9,735  55,207  
Total$614,621  $107,303  $434,452  $89,109  $1,245,485  

Three months ended June 30, 2019Consumer PackagingDisplay and
Packaging
Paper and
Industrial
Converted
Products
Protective
Solutions
Total
Primary Geographical Markets:
  United States$436,896  $62,097  $268,890  $104,058  $871,941  
  Europe99,007  71,564  87,958  5,595  264,124  
  Canada28,839  —  29,903  —  58,742  
  Asia17,445  —  69,588  516  87,549  
  Other20,563  1,172  34,989  20,641  77,365  
Total$602,750  $134,833  $491,328  $130,810  $1,359,721  

The following tables set forth information about revenue disaggregated by primary geographic regions for the six-month periods ended June 28, 2020 and June 30, 2019. The tables also include a reconciliation of disaggregated revenue with reportable segments.
Six months ended June 28, 2020Consumer
Packaging
Display and
Packaging
Paper and
Industrial
Converted
Products
Protective
Solutions
Total
Primary Geographical Markets:
  United States$870,025  $103,513  $536,000  $170,265  $1,679,803  
  Europe205,350  125,146  158,819  10,695  500,010  
  Canada52,577  —  46,572  —  99,149  
  Asia34,283  —  108,583  388  143,254  
  Other40,803  —  59,448  26,314  126,565  
Total$1,203,038  $228,659  $909,422  $207,662  $2,548,781  
Six months ended June 30, 2019Consumer PackagingDisplay and
Packaging
Paper and
Industrial
Converted
Products
Protective
Solutions
Total
Primary Geographical Markets:
  United States$853,296  $127,659  $537,456  $205,236  $1,723,647  
  Europe207,219  141,807  178,663  11,462  539,151  
  Canada56,139  —  62,736  —  118,875  
  Asia33,358  —  138,648  1,436  173,442  
  Other42,454  2,921  69,862  41,074  156,311  
Total$1,192,466  $272,387  $987,365  $259,208  $2,711,426