Quarterly report pursuant to Section 13 or 15(d)

Deferred Revenues and Customer Advances

v3.7.0.1
Deferred Revenues and Customer Advances
6 Months Ended
Jun. 30, 2017
Deferred Revenues and Customer Advances [Abstract]  
Deferred Revenues and Customer Advances

Note 7—Deferred Revenues and Customer Advances

 

Deferred revenues and customer advances consist of balances billed on existing customer contracts for which the revenue cycle is not complete. Customer advances on equipment sales represent down payments and progress payments under the terms and conditions of equipment sales of our Power Oxidizer and Powerstation units. Prepaid license fees represent payments of license fees by Dresser-Rand and received in September 2016 but for which right of return existed as of June 30, 2017. Deferred revenues and customer advances consisted of the following:

 

   

June 30,
2017

(unaudited)

    December 31,
2016
 
             
Customer advances on equipment sales   $ 2,877,000     $ 2,776,000  
Prepaid license fees     2,300,000       1,100,000  
Total deferred revenues and customer advances   $ 5,177,000     $ 3,876,000