Revenue

The Company produces forged components for (i) turbine engines that power commercial, business and regional aircraft as well as military aircraft and other military applications; (ii) airframe applications for a variety of aircraft; (iii) industrial gas and steam turbine engines for power generation units; and (iv) other commercial applications.

The following table represents a breakout of total revenue by customer type:



	Three Months Ended June 30,				Nine Months Ended June 30,
	2020		2019		2020		2019

Commercial revenue	$	12,266	$	14,713	$	34,954	$	41,213
Military revenue	15,511		10,160		49,567		40,118
Total	$	27,777	$	24,873	$	84,521	$	81,331

The following table represents revenue by the various components:



	Three Months Ended June 30,				Nine Months Ended June 30,
Net Sales	2020		2019		2020		2019
Aerospace components for:
Fixed wing aircraft	$	13,730	$	12,557	$	39,130	$	38,949
Rotorcraft	8,687		5,088		22,348		17,261
Energy components for power generation units	3,804		4,887		9,879		13,347
Commercial product and other revenue	1,556		2,341		13,164		11,774
Total	$	27,777	$	24,873	$	84,521	$	81,331

The following table represents revenue by geographic region based on the Company's selling operation locations:



	Three Months Ended June 30,				Nine Months Ended June 30,
Net Sales	2020		2019		2020		2019
North America	24,261		20,301		75,532		68,745
Europe	3,516		4,572		8,989		12,586
Total	$	27,777	$	24,873	$	84,521	$	81,331

In addition to the disaggregating revenue information provided above, approximately 60% of total net sales as of June 30, 2020 are recognized on an over-time basis because of the continuous transfer of control to the customer, with the remainder recognized at a point in time.

Contract Balances

Generally, payment is due shortly after the shipment of goods. For performance obligations recognized at a point in time, a contract asset is not established as the billing and revenue recognition occur at the same time. For performance obligations recognized over-time, a contract asset is established as revenue is recognized prior to billing and shipment. Upon shipment and billing, the value of the contract asset is reversed and accounts receivable is recorded. In circumstances where prepayments are required and payment is made prior to satisfaction of performance obligations, a contract liability is established. If the performance obligation occurs over-time, the contract liability is reversed over the course of production. If the performance obligation is point in time, the contract liability reverses upon shipment.

The following table contains a roll forward of contract assets and contract liabilities for the period ended June 30, 2020:




Contract assets - Beginning balance, October 1, 2019	$	10,349
Additional revenue recognized over-time	51,132
Less amounts billed to the customers	(48,347		)
Contract assets - Ending balance, June 30, 2020	$	13,134




Contract liabilities (included within Accrued liabilities) - Beginning balance, October 1, 2019	$	(382	)
Payments received in advance of performance obligations	—
Performance obligations satisfied	382
Contract liabilities (included within Accrued liabilities) - Ending balance, June 30, 2020	$	—

There were no impairment losses recorded on contract assets as of June 30, 2020.

Remaining performance obligations

As of June 30, 2020, the Company has $100,880 of remaining performance obligations, the majority of which are anticipated to be completed within the next twelve months.