Our revenues by customer type, geographic location, and revenue recognition method for the year ended September 30, 2019 are presented in the table below as the Company deems it best depicts how the nature, amount, timing and uncertainty of net sales and cash flows are affected by economic factors. The table below also includes a reconciliation of the disaggregated revenue within our reportable segments.


Year Ended September 30, 2019							Technical
(In thousands)	Filtration		USG		Test		Packaging		Total
Customer type:
Commercial	$	180,356	$	207,666	$	168,201	$	86,599	$	642,822
Government		145,379		4,249		20,193		327		170,148
Total revenues	$	325,735	$	211,915	$	188,394	$	86,926	$	812,970

Geographic location:
United States	$	274,446	$	150,381	$	112,358	$	45,787	$	582,972
International		51,289		61,534		76,036		41,139		229,998
Total revenues	$	325,735	$	211,915	$	188,394	$	86,926	$	812,970

Revenue recognition method:
Point in time	$	164,224	$	164,126	$	36,787	$	—	$	365,137
Over time		161,511		47,789		151,607		86,926		447,833
Total revenues	$	325,735	$	211,915	$	188,394	$	86,926	$	812,970

(b)	Remaining Performance Obligations

Our remaining performance obligations, which is the equivalent of our backlog, represent the expected transaction price allocated to our contracts that we expect to recognize as revenue in future periods when we perform under the contracts. These remaining obligations include amounts that have been formally appropriated under contracts with the U.S. Government, and exclude unexercised contract options and potential orders under ordering-type contracts such as Indefinite Delivery, Indefinite Quantity contracts. At September 30, 2019, we had $475 million in remaining performance obligations of which we expect to recognize revenues of 90% in the next twelve months.

(c)	Contract assets and liabilities

Assets and liabilities related to our contracts with customers are reported on a contract-by-contract basis at the end of each reporting period. At September 30, 2019, contract assets and liabilities totaled $115.3 million and $81.2 million, respectively. Upon adoption of ASC 606 on October 1, 2018, contract assets and liabilities related to our contracts with customers were $87 million and $51 million, respectively. During 2019, we recognized approximately $40 million in revenues that were included in the contract liabilities balance at the adoption date.

(d)	Reconciliation of ASC 606 to Prior Accounting Standards

The amount by which each financial statement line item is affected in 2019 as a result of applying the new accounting standard as discussed in Note 2 is presented below:


	September 30, 2019
			Effect of the
			adoption of		Under Prior
(In thousands)	As Reported		ASC 606		Accounting
Consolidated Balance Sheets
Contract assets (1)	$	115,310	$	(39,055)	$	76,255
Inventories		128,825		34,065		162,890
Total current assets		495,194		(4,990)		490,204
Total assets		1,466,720		(4,990)		1,461,730
Contract liabilities (2)		81,177		2,870		84,047
Total current liabilities		251,635		2,870		254,505
Deferred tax liabilities		64,855		(658)		64,197
Total liabilities		640,498		2,212		642,710
Retained earnings		684,741		(7,202)		677,539
Total shareholders’ equity		826,222		(7,202)		819,020
Total liabilities and shareholders’ equity	$	1,466,720		(4,990)		1,461,730

(1)

Previously “cost and estimated earnings on long-term contracts”

(2)

Previously “advance payments on long-term contracts” and “current portion of deferred revenue”


	Year ended
	September 30, 2019
			Effect of the
			adoption of		Under Prior
(In thousands, except per share amounts)	As Reported		ASC 606		Accounting
Consolidated Statements of Operations
Net sales	$	812,970	$	(5,598)	$	807,372
Cost of sales		508,521		(6,658)		501,863
Total costs and expenses		710,754		(6,658)		704,096
Earnings before income tax		102,216		1,060		103,276
Income tax expense		21,177		255		21,432
Net earnings		81,039		805		81,844
Earnings per share:
Basic:
Net earnings	$	3.12	$	0.03	$	3.15
Diluted:
Net earnings	$	3.10	$	0.03	$	3.13
Consolidated Statements of Comprehensive Income
Net earnings	$	81,039	$	805	$	81,844
Comprehensive income		68,593		805		69,398
Consolidated Statements of Cash flows
Net earnings	$	81,039	$	805	$	81,844
Adjustments to reconcile net earnings to net cash provided by operating activities:
Change in assets and liabilities	$	(9,944)		(805)	$	(10,749)
Net cash provided by operating activities		105,137		—		105,137