REVENUE AND LONG-LIVED ASSETS

12 Months Ended

Dec. 31, 2020

REVENUE AND LONG-LIVED ASSETS

REVENUE AND LONG-LIVED ASSETS

9.REVENUE AND LONG-LIVED ASSETS

Substantially all of our revenue is generated from sales of towing equipment. As such, disaggregation of revenue by product line would not provide useful information because all product lines have substantially similar characteristics. However, revenue streams are tracked by the geographic location of customers. Net sales and long-lived assets (property, plant and equipment, operating lease right-of-use assets, and goodwill) by region were as follows. Net sales are attributed to regions based on the locations of customers:

	2020				2019				2018
			Long-				Long-				Long-
			Lived				Lived				Lived
	Net Sales		Assets		Net Sales			Assets	Net Sales			Assets
North America	$	556,540	$	106,323	$	697,002	$	97,650	$	574,806	$	90,036
Foreign		94,746		5,384		121,164		6,344		136,900		4,433
	$	651,286	$	111,707	$	818,166	$	103,994	$	711,706	$	94,469

Contract assets primarily relate to the Company’s rights to consideration for work completed but not billed at the reporting date. The contract assets are transferred to receivables when the rights become unconditional. Contract liabilities primarily relate to performance obligations to be satisfied in the future. As of December 31, 2020 and December 31, 2019, contract liability balances were $272 and $324, respectively, and are included in accrued liabilities on the accompanying consolidated balance sheets. During the years ended December 31, 2020, 2019, and 2018, the Company increased contract liabilities by $0, $310, and $1,391, respectively. However, during the years ended December 31, 2020, 2019, and 2018, respectively, the Company settled $52, $361 and $1,214 of this liability with a contract credit in lieu of satisfaction of these obligations. The Company did not have any contract assets at December 31, 2020 or 2019. Terms on account receivables vary and are based on specific terms agreed upon with each customer. Write-offs of accounts receivable were not material during the years ended December 31, 2020, 2019, or 2018.