Revenue

3 Months Ended

Dec. 31, 2020

Revenue from Contract with Customer [Abstract]

Revenue

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 December 31,
	2020		2019
Commercial revenue	$	10,753	$	10,191
Military revenue	14,325		16,016
Total	$	25,078	$	26,207

The following table represents revenue by the various components:

	Three Months Ended December 31,
Net Sales	2020		2019
Aerospace components for:
Fixed wing aircraft	$	9,790	$	11,335
Rotorcraft	7,731		6,848
Energy components for power generation units	6,462		2,658
Commercial product and other revenue	1,095		5,366
Total	$	25,078	$	26,207

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

	Three Months Ended December 31,
Net Sales	2020		2019
North America	19,766		23,776
Europe	5,312		2,431
Total	$	25,078	$	26,207

In addition to the disaggregated revenue information provided above, approximately 58% and 61% of total net sales as of December 31, 2020 and 2019, respectively, was 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

The following table contains a roll forward of contract assets and contract liabilities for the period ended December 31, 2020:

Contract assets - Beginning balance, October 1, 2020	$	11,997
Additional revenue recognized over-time	14,520
Less amounts billed to the customers	(14,591)
Contract assets - Ending balance, December 31, 2020	$	11,926

Contract liabilities (included within Accrued liabilities) - Beginning balance, October 1, 2020	$	(636)
Payments received in advance of performance obligations	(155)
Performance obligations satisfied	66
Contract liabilities (included within Accrued liabilities) - Ending balance, December 31, 2020	$	(725)

There were no impairment losses recorded on contract assets as of December 31, 2020 and September 30, 2020.

Remaining performance obligations

As of December 31, 2020, the Company has $81,533 of remaining performance obligations, the majority of which are anticipated to be completed within the next twelve months.