CONTRACT LIABILITIES

3 Months Ended

Mar. 31, 2021

Revenue from Contract with Customer [Abstract]

CONTRACT LIABILITIES

CONTRACT LIABILITIES

On occasion, we require customers to make advance payments prior to the shipment of goods in order to help finance our inventory investment on large orders or to keep customers’ credit limits at acceptable levels. Contract liabilities were as follows:

	March 31, 2021		December 31, 2020
NobelClad	$	6,845	$	4,450
DynaEnergetics	360		478
Total	$	7,205	$	4,928

We generally expect to recognize the revenue associated with contract liabilities over a time period no longer than one year, but unforeseen circumstances can cause delays in shipments associated with contract liabilities. Approximately 25% of the $4,928 recorded as contract liabilities at December 31, 2020 was recorded to net sales during the three months ended March 31, 2021.