Revenue

12 Months Ended

Dec. 31, 2020

Revenue from Contract with Customer [Abstract]

Revenue

Note 3 - Revenue

The following table presents details deemed most relevant to the users of the financial statements about total revenue for the years ended December 31, 2020, 2019 and 2018:

	December 31, 2020
	Mobile		Process		Total
United States	$	853.8	$	699.6	$	1,553.4
Americas excluding United States	168.1		138.0		306.1
Europe / Middle East / Africa	389.9		457.0		846.9
China	102.2		421.0		523.2
Asia-Pacific excluding China	157.6		126.0		283.6
Net sales	$	1,671.6	$	1,841.6	$	3,513.2
	December 31, 2019
	Mobile		Process		Total
United States	$	1,007.1	$	821.0	$	1,828.1
Americas excluding United States	209.6		167.7		377.3
Europe / Middle East / Africa	390.8		489.2		880.0
China	92.1		268.5		360.6
Asia-Pacific excluding China	194.3		149.6		343.9
Net sales	$	1,893.9	$	1,896.0	$	3,789.9
	December 31, 2018
	Mobile		Process		Total
United States	$	1,028.8	$	769.5	$	1,798.3
Americas excluding United States	208.9		176.7		385.6
Europe / Middle East / Africa	382.5		380.2		762.7
China	95.4		218.4		313.8
Asia-Pacific excluding China	188.1		132.3		320.4
Net sales	$	1,903.7	$	1,677.1	$	3,580.8

When reviewing revenues by sales channel, the Company separates net sales to OEMs from sales to distributors and end users. The following table presents the percent of revenues by sales channel for the years ended December 31, 2020 and December 31, 2019:    

Revenue by sales channel	December 31, 2020	December 31, 2019
Original equipment manufacturers	60%	56%
Distribution/end users	40%	44%

In addition to disaggregating revenue by segment and geography and by sales channel as shown above, the Company believes information about the timing of transfer of goods or services, type of customer and distinguishing service revenue from product sales is also relevant. During the years ended December 31, 2020 and December 31, 2019, approximately 11% and 12%, respectively, of total net sales were recognized on an over-time basis because of the continuous transfer of control to the customer, with the remainder recognized as of a point in time. Approximately 4% and 5% of total net sales represented service revenue in 2020 and 2019, respectively. Finally, the payment terms with the U.S. government or its contractors represented approximately 8% of total net sales for 2020 and 2019, respectively.

Note 3 - Revenue (continued)

Remaining Performance Obligations:

Remaining performance obligations represent the transaction price of orders meeting the definition of a contract in the new revenue standard for which work has not been performed and excludes unexercised contract options. Performance obligations having a duration of more than one year are concentrated in contracts for certain products and services provided to the U.S. government or its contractors. The aggregate amount of the transaction price allocated to remaining performance obligations for such contracts with a duration of more than one year was approximately $224.3 million at December 31, 2020.

Unbilled Receivables:

The following table contains a rollforward of unbilled receivables for the year ended December 31, 2020:

	December 31, 2020
Beginning balance, January 1	$	129.2
Additional unbilled revenue recognized	393.6
Less: amounts billed to customers	(411.9)
Ending balance	$	110.9

There were no impairment losses recorded on unbilled receivables for the year ended December 31, 2020.