REVENUES

6 Months Ended

Mar. 31, 2021

REVENUES

REVENUES

11.  REVENUES

Disaggregation of Revenues

Revenues by customer type, geographic location, and revenue recognition method for the three and six-month periods ended March 31, 2021 are presented in the tables 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 tables below also include a reconciliation of the disaggregated revenue within each reportable segment on a continuing operations basis.

Three months ended March 31, 2021	Aerospace
(In thousands)	& Defense		USG		Test		Total
Customer type:
Commercial	$	33,973	$	38,549	$	39,305	$	111,827
U.S. Government		49,305		1,006		4,506		54,817
Total revenues	$	83,278	$	39,555	$	43,811	$	166,644
Geographic location:
United States	$	73,037	$	27,445	$	22,965	$	123,447
International		10,241		12,110		20,846		43,197
Total revenues	$	83,278	$	39,555	$	43,811	$	166,644
Revenue recognition method:
Point in time	$	37,127	$	27,563	$	9,248	$	73,938
Over time		46,151		11,992		34,563		92,706
Total revenues	$	83,278	$	39,555	$	43,811	$	166,644

Six months ended March 31, 2021	Aerospace
(In thousands)	& Defense		USG		Test		Total
Customer type:
Commercial	$	62,114	$	92,414	$	76,027	$	230,555
U.S. Government		88,055		1,681		9,302		99,038
Total revenues	$	150,169	$	94,095	$	85,329	$	329,593
Geographic location:
United States	$	130,849	$	64,490	$	46,231	$	241,570
International		19,320		29,605		39,098		88,023
Total revenues	$	150,169	$	94,095	$	85,329	$	329,593
Revenue recognition method:
Point in time	$	64,000	$	69,931	$	18,116	$	152,047
Over time		86,169		24,164		67,213		177,546
Total revenues	$	150,169	$	94,095	$	85,329	$	329,593

Revenues by customer type, geographic location, and revenue recognition method for the three and six-month periods ended March 31, 2020 are presented in the tables below.

Three months ended March 31, 2020	Aerospace
(In thousands)	& Defense		USG		Test		Total
Customer type:
Commercial	$	51,550	$	43,736	$	33,952	$	129,238
U.S. Government		43,574		32		7,648		51,254
Total revenues	$	95,124	$	43,768	$	41,600	$	180,492
Geographic location:
United States	$	81,458	$	28,706	$	25,121	$	135,285
International		13,666		15,062		16,479		45,207
Total revenues	$	95,124	$	43,768	$	41,600	$	180,492
Revenue recognition method:
Point in time	$	46,610	$	32,209	$	8,009	$	86,828
Over time		48,514		11,559		33,591		93,664
Total revenues	$	95,124	$	43,768	$	41,600	$	180,492

Six months ended March 31, 2020	Aerospace
(In thousands)	& Defense		USG		Test		Total
Customer type:
Commercial	$	93,417	$	95,971	$	69,194	$	258,582
U.S. Government		79,218		631		13,789		93,638
Total revenues	$	172,635	$	96,602	$	82,983	$	352,220
Geographic location:
United States	$	146,164	$	63,665	$	49,959	$	259,788
International		26,471		32,937		33,024		92,432
Total revenues	$	172,635	$	96,602	$	82,983	$	352,220
Revenue recognition method:
Point in time	$	82,897	$	72,524	$	17,019	$	172,440
Over time		89,738		24,078		65,964		179,780
Total revenues	$	172,635	$	96,602	$	82,983	$	352,220

Remaining Performance Obligations

Remaining performance obligations, which is the equivalent of backlog, represent the expected transaction price allocated to contracts that the Company expects to recognize as revenue in future periods when the Company performs 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 March 31, 2021, the Company had $521.7 million in remaining performance obligations of which the Company expects to recognize revenues of approximately 72% in the next twelve months.

Contract assets and liabilities

Assets and liabilities related to contracts with customers are reported on a contract-by-contract basis at the end of each reporting period. At March 31, 2021, contract assets and liabilities totaled $95.0 million and $106.6 million, respectively. Contract assets and liabilities are presented as current in the consolidated balance sheets as it is expected all related transaction activity with customers will be substantially completed within twelve months. During the first six months of 2021, the Company recognized approximately $56 million in revenues that were included in the contract liabilities balance at September 30, 2020.