Contract Assets and Contract Liabilities (Notes)

12 Months Ended

Dec. 31, 2018

Revenue from Contract with Customer [Abstract]

Revenue from Contract with Customer [Text Block]

Note 8 - Contract Assets and Contract Liabilities

We report contract assets, which are included within “Other current assets” on our Consolidated Balance Sheets, and contract liabilities, which are included within “Accrued liabilities” on our Consolidated Balance Sheets, on a contract-by-contract net basis at the end of each reporting period. Net contract assets and contract liabilities consisted of the following:

(in millions)	December 31, 2018		January 1,  2018
Contract assets	$	54.9	$	22.1
Contract liabilities	$	50.8	$	21.1

During 2018, contract assets and contract liabilities increased $32.8 million and $29.7 million, respectively, primarily due to the acquisition of Crane Currency.

During 2018, we recognized $19.8 million related to the opening balance of contract liabilities as of January 1, 2018.

See Note 1, “Nature of Operations and Significant Accounting Policies” for further details.