Annual report pursuant to Section 13 and 15(d)

Deferred Revenues and Customer Advances

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Deferred Revenues and Customer Advances
12 Months Ended
Dec. 31, 2017
Deferred Revenues and Customer Advances [Abstract]  
Deferred Revenues and Customer Advances

Note 8—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 that we received in September 2016 but for which right of return existed as of December 31, 2017 and amounts received in 2017 as advance payments from future license fees due. Deferred revenues and customer advances consisted of the following:

 

    December 31, 2017     December 31, 2016  
             
Customer advances on equipment sales   $ 2,720,000     $ 2,776,000  
Prepaid license fees     2,550,000       1,100,000  
Total deferred revenues and customer advances   $ 5,270,000     $ 3,876,000