Revenue

The following table presents the approximate percentage of our net sales by market group:



	Three Months Ended March 31,
	2019		2018
Biologics	26	%	21	%
Generics	20	%	21	%
Pharma	31	%	36	%
Contract-Manufactured Products	23	%	22	%
	100	%	100	%

The following table presents the approximate percentage of our net sales by product category:



	Three Months Ended March 31,
	2019		2018
High-Value Components	43	%	41	%
Standard Packaging	30	%	34	%
Delivery Devices	4	%	3	%
Contract-Manufactured Products	23	%	22	%
	100	%	100	%

The following table presents the approximate percentage of our net sales by geographic location:



	Three Months Ended March 31,
	2019		2018
Americas	46	%	45	%
Europe, Middle East, Africa	47	%	47	%
Asia Pacific	7	%	8	%
	100	%	100	%

Contract Assets and Liabilities

The following table summarizes our contract assets and liabilities, excluding contract assets included in accounts receivable, net:



	($ in millions)
Contract assets, December 31, 2018	$	9.1
Contract assets, March 31, 2019	11.9
Change in contract assets - increase (decrease)	$	2.8

Deferred income, December 31, 2018	$	(33.4	)
Deferred income, March 31, 2019	(36.5		)
Change in deferred income - decrease (increase)	$	(3.1	)

The increase in deferred income during the three months ended March 31, 2019 was primarily due to additional cash payments of $30.6 million received in advance of satisfying future performance obligations, partially offset by the recognition of revenue of $25.8 million, including $11.1 million of revenue that was included in deferred income at the beginning of the year, and $1.7 million in other adjustments.

The majority of the performance obligations within our contracts are satisfied within one year or less. Performance obligations satisfied beyond one year include those relating to a nonrefundable customer payment of $20.0 million received in June 2013 in return for the exclusive use of the SmartDose^® technology platform within a specific therapeutic area. As of March 31, 2019, there was $6.3 million of unearned income related to this payment, of which $0.9 million was included in other current liabilities and $5.4 million was included in other long-term liabilities. The unearned income is being recognized as income on a straight-line basis over the remaining term of the agreement. The agreement does not include a future minimum purchase commitment from the customer.

Supply Chain Financing

We have entered into supply chain financing agreements with certain banks, pursuant to which we offer for sale certain accounts receivable to such banks from time to time, subject to the terms of the applicable agreements. These transactions result in a reduction in accounts receivable, as the agreements transfer effective control over, and credit risk related to, the receivables to the banks. These agreements do not allow for recourse in the event of uncollectibility, and we do not retain any interest in the underlying accounts receivable once sold. As of March 31, 2019, we derecognized $1.8 million of accounts receivable under these agreements. Discount fees related to the sale of such accounts receivable on our condensed consolidated income statements for the three months ended March 31, 2019 were not material.

Voluntary Recall

On January 24, 2019, we issued a voluntary recall of our Vial2Bag^® product line due to reports of potential unpredictable or variable dosing under certain conditions. Our 2018 results included an $11.3 million provision for product returns, recorded as a reduction of sales, partially offset by a reduction in cost of goods sold reflecting our inventory balance for these devices at December 31, 2018. During the three months ended March 31, 2019, following the completion of certain tests and studies related to the voluntary recall, we recorded a $4.5 million provision for potential inventory returns from our customers and related in-house inventory, partially offset by a reduction in our provision for product returns. We continue to work to get the products back on the market.