Revenue

9 Months Ended

Sep. 30, 2020

Revenue Recognition [Abstract]

Revenue

Revenue

The following tables present our revenues disaggregated by reportable business segment and geography as they best depict how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors. Revenues by business segment were as follows:

	Three Months Ended				Nine Months Ended
	Sept. 30, 2020		Sept. 30, 2019		Sept. 30, 2020		Sept. 30, 2019
	(Dollars in thousands)
Metal containers	$	856,660	$	822,262	$	1,962,370	$	1,904,941
Closures	475,105		353,436		1,242,725		1,072,979
Plastic containers	156,734		145,644		490,258		463,715
	$	1,488,499	$	1,321,342	$	3,695,353	$	3,441,635

Revenues by geography were as follows:

	Three Months Ended				Nine Months Ended
	Sept. 30, 2020		Sept. 30, 2019		Sept. 30, 2020		Sept. 30, 2019
	(Dollars in thousands)
North America	$	1,143,562	$	1,078,187	$	2,858,561	$	2,747,518
Europe and other	344,937		243,155		836,792		694,117
	$	1,488,499	$	1,321,342	$	3,695,353	$	3,441,635

Our contracts generally include standard commercial payment terms generally acceptable in each region. We do not provide financing with extended payment terms beyond generally standard commercial payment terms for the applicable industry. We have no significant obligations for refunds, warranties or similar obligations. Trade accounts receivable, net are shown separately on our Condensed Consolidated Balance Sheet. Contract assets are the result of the timing of revenue recognition, billings and cash collections. Our contract assets primarily consist of unbilled accounts receivable related to over time revenue recognition and were $80.2 million, $73.4 million, and $71.1 million as of September 30, 2020 and 2019 and December 31, 2019, respectively. Unbilled receivables are included in trade accounts receivable, net on our Condensed Consolidated Balance Sheet.