Quarterly report pursuant to Section 13 or 15(d)

Deferred Revenues and Customer Advances

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Deferred Revenues and Customer Advances
9 Months Ended
Sep. 30, 2018
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 or spare parts for those units. Prepaid license fees represent payments of license fees by Dresser-Rand that we received in 2017 but for which the underlying unit sales had not been completed. Deferred revenues and customer advances consisted of the following:

 

    September 30, 
2018
(unaudited)
    December 31,
2017
 
             
Customer advances on equipment sales   $ 3,123,000     $ 2,720,000  
Prepaid license fees     1,450,000       2,550,000  
Total deferred revenues and customer advances   $ 4,573,000     $ 5,270,000