Revenue

3 Months Ended

Dec. 31, 2021

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,
	2021		2020
Commercial revenue	$	8,360	$	10,753
Military revenue	10,887		14,325
Total	$	19,247	$	25,078

The following table represents revenue by the various components:

	Three Months Ended December 31,
Net Sales	2021		2020
Aerospace components for:
Fixed wing aircraft	$	9,888	$	9,790
Rotorcraft	3,544		7,731
Energy components for power generation units	3,657		6,462
Commercial product and other revenue	2,158		1,095
Total	$	19,247	$	25,078

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

	Three Months Ended December 31,
Net Sales	2021		2020
North America	$	15,862	$	19,766
Europe	3,385		5,312
Total	$	19,247	$	25,078

In addition to the disaggregated revenue information provided above, approximately 57% and 58% of total net sales as of December 31, 2021 and 2020, 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, 2021:

Contract assets - Beginning balance, October 1, 2021	$	12,874
Additional revenue recognized over-time	11,245
Less amounts billed to the customers	(10,812)
Contract assets - Ending balance, December 31, 2021	$	13,307

Contract liabilities (included within Accrued liabilities) - Beginning balance, October 1, 2021	$	(236)
Payments received in advance of performance obligations	(1,152)
Performance obligations satisfied	172
Contract liabilities (included within Accrued liabilities) - Ending balance, December 31, 2021	$	(1,216)

There were no impairment losses recorded on contract assets as of December 31, 2021 and September 30, 2021.

Remaining performance obligations

As of December 31, 2021, the Company has $75,730 of remaining performance obligations, the majority of which are anticipated to be completed within the next twelve months.