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Revenue from Contracts with Customers
 9 Months Ended
Sep. 30, 2019
Revenue from Contract with Customer [Abstract]  
Revenue from Contracts with Customers Revenue from Contracts with Customers

The Company accounts for revenue in accordance with ASC 606, Revenue from Contracts from Customers. These revenues are generated from the design and manufacture of specialty engineered filtration media, industrial thermal insulating solutions, automotive thermal and acoustical barriers for filtration/separation and thermal/acoustical applications. The Company’s revenue recognition policies require the Company to make significant judgments and estimates. In applying the Company’s revenue recognition policy, determinations must be made as to when control of products passes to the Company’s customers which can be either at a point in time or over time. Revenue is generally recognized at a point in time when control passes to customers upon shipment of the Company’s products and revenue is generally recognized over time when control of the Company’s products
transfers to customers during the manufacturing process. The Company analyzes several factors, including but not limited to, the nature of the products being sold and contractual terms and conditions in contracts with customers to help the Company make such judgments about revenue recognition.
 
 
Contract Assets and Liabilities

The Company’s contract assets primarily include unbilled amounts typically resulting from sales under contracts when the over time method of revenue recognition is utilized and revenue recognized exceeds the amount billed to the customer. These unbilled accounts receivable in contract assets are transferred to accounts receivable upon invoicing, typically when the right to payment becomes unconditional in which case payment is due based only upon the passage of time.

The Company’s contract liabilities primarily relate to billings and advance payments received from customers, and deferred revenue. These contract liabilities represent the Company’s obligation to transfer its products to its customers for which the Company has received, or is owed consideration from its customers. Contract liabilities are included in deferred revenue on the Company’s Condensed Consolidated Balance Sheets.

Contract assets and liabilities consisted of the following:

In thousands
September 30, 2019
 
December 31, 2018
 
Dollar Change
Contract assets
$
26,804

 
$
23,040

 
$
3,764

Contract liabilities
$
2,001

 
$
4,537

 
$
(2,536
)


The $3.8 million increase in contract assets from December 31, 2018 to September 30, 2019 was primarily due to timing of billings to customers.

The $2.5 million decrease in contract liabilities from December 31, 2018 to September 30, 2019 was primarily due to $4.5 million of revenue recognized in the first nine months of 2019 related to contract liabilities at December 31, 2018, offset by an increase in customer deposits.

Disaggregated Revenue

The Company disaggregates revenue from customers by geographic region, as it believes this disclosure best depicts how the nature, amount, timing and uncertainty of the Company's revenue and cash flows are affected by economic factors. Disaggregated revenue by geographical region for the quarters and nine months ended September 30, 2019 and 2018 were as follows:
 
 
Quarter Ended September 30, 2019
In thousands
 
Performance Materials
 
Technical Nonwovens
 
Thermal Acoustical Solutions
 
Eliminations and Other
 
Consolidated Net Sales
 
 
 
 
 
 
 
 
 
 
 
North America
 
$
42,693

 
$
42,128

 
$
61,315

 
$
(6,405
)
 
$
139,731

Europe
 
15,203

 
16,544

 
22,208

 
(159
)
 
53,796

Asia
 
2,104

 
5,240

 
4,403

 
—

 
11,747

Total Net Sales
 
$
60,000

 
$
63,912

 
$
87,926

 
$
(6,564
)
 
$
205,274

 
 
Quarter Ended September 30, 2018
In thousands
 
Performance Materials
 
Technical Nonwovens
 
Thermal Acoustical Solutions
 
Eliminations and Other
 
Consolidated Net Sales
 
 
 
 
 
 
 
 
 
 
 
North America
 
$
29,048

 
$
44,092

 
$
58,484

 
$
(4,891
)
 
$
126,733

Europe
 
12,120

 
18,757

 
24,183

 
(225
)
 
54,835

Asia
 
552

 
10,222

 
5,544

 
—

 
16,318

Total Net Sales
 
$
41,720

 
$
73,071

 
$
88,211

 
$
(5,116
)
 
$
197,886


 
 
Nine Months Ended September 30, 2019
In thousands
 
Performance Materials
 
Technical Nonwovens
 
Thermal Acoustical Solutions
 
Eliminations and Other
 
Consolidated Net Sales
 
 
 
 
 
 
 
 
 
 
 
North America
 
$
136,892

 
$
121,984

 
$
189,152

 
$
(19,139
)
 
$
428,889

Europe
 
47,589

 
53,384

 
73,853

 
(540
)
 
174,286

Asia
 
5,201

 
23,228

 
12,506

 
—

 
40,935

Total Net Sales
 
$
189,682

 
$
198,596

 
$
275,511

 
$
(19,679
)
 
$
644,110


 
 
Nine Months Ended September 30, 2018
In thousands
 
Performance Materials
 
Technical Nonwovens
 
Thermal Acoustical Solutions
 
Eliminations and Other
 
Consolidated Net Sales
 
 
 
 
 
 
 
 
 
 
 
North America
 
$
69,088

 
$
128,788

 
$
190,385

 
$
(19,249
)
 
$
369,012

Europe
 
34,007

 
56,197

 
76,753

 
(580
)
 
166,377

Asia
 
552

 
27,339

 
12,679

 
—

 
40,570

Total Net Sales
 
$
103,647

 
$
212,324

 
$
279,817

 
$
(19,829
)
 
$
575,959