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REVENUE AND LONG-LIVED ASSETS
 12 Months Ended
Dec. 31, 2018
Segment Reporting [Abstract]  
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 and goodwill and intangible assets) by region were as follows. Net sales are attributed to regions based on the locations of customers:

 

    2018     2017     2016  
    Net Sales     Long-
Lived
Assets		     Net Sales     Long-
Lived
Assets		     Net Sales     Long-
Lived
Assets		  
North America   $ 574,806     $ 90,036     $ 527,134     $ 85,707     $ 537,308     $ 68,556  
                                                 
Foreign     136,900       4,433       87,967       3,540       63,811       2,676  
                                                 
    $ 711,706     $ 94,469     $ 615,101     $ 89,247     $ 601,119     $ 71,232  

 

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 January 1, 2018 and December 31, 2018, contract liability balances related to extended service contracts were $154 and $331, respectively, and are included in accrued liabilities on the consolidated balance sheets. During the year ended December 31, 2018, the Company increased contract liabilities by $1,391 related to extended service contracts. However, during the fourth quarter of 2018, the Company settled $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 January 1, 2018 or December 31, 2018. Terms on account receivables vary and are based on specific terms agreed upon with each customer. Impairment losses on account receivables were de minimis during the year ended December 31, 2018.