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CONTRACT ASSETS AND CONTRACT LIABILITIES
 12 Months Ended
Dec. 31, 2019
Revenue from Contract with Customer [Abstract]  
CONTRACT ASSETS AND CONTRACT LIABILITIES CONTRACT ASSETS AND CONTRACT LIABILITIES
Contract assets include unbilled amounts resulting from sales under long-term contracts where revenue is recognized over time and revenue exceeds the amount that can be billed to the customer based on the terms of the contract. Contract liabilities include customer deposits that are made prior to the incurrence of costs related to a newly agreed upon contract, advanced customer payments that are in excess of revenue recognized, and provisions for estimated losses from uncompleted contracts.
The change in the carrying amount of contract assets and contract liabilities for the twelve months ended December 31, 2019, and 2018 is as follows:
Contract Assets
In millions20192018
Balance at beginning of year$345.6  $366.2  
Acquisitions237.5  0.0  
Recognized in current year619.3  426.8  
Reclassified to accounts receivable(578.6) (432.3) 
Foreign currency impact(0.4) (15.1) 
Balance at December 31$623.4  $345.6  
Contract Liabilities
In millions20192018
Balance at beginning of year$444.8  $463.7  
Acquisitions333.9  0.0  
Recognized in current year917.5  230.1  
Amounts in beginning balance reclassified to revenue(410.6) (199.7) 
Current year amounts reclassified to revenue(483.5) (30.9) 
Foreign currency impact(2.4) (18.4) 
Balance at December 31$799.7  $444.8