James Hardie Industries plc Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Revenues Revenues

Revenues Revenues

12 Months Ended

Mar. 31, 2020

Revenue from Contract with Customer [Abstract]

The following represents the Company's disaggregated revenues for the fiscal years ended 31 March 2020, 2019 and 2018:



	Year Ended 31 March 2020
(Millions of US dollars)	North America Fiber Cement		Asia Pacific Fiber Cement		Europe Building Products		Other Businesses¹		Consolidated
Fiber cement revenues	$	1,816.4	$	418.4	$	48.0	$	—	$	2,282.8
Fiber gypsum revenues	—		—		323.4		—		323.4
Other revenues	—		—		—		0.6		0.6
Total revenues	$	1,816.4	$	418.4	$	371.4	$	0.6	$	2,606.8
¹Effective 31 March 2020, the Other Businesses segment no longer qualifies as a reportable segment. Refer to Note 19 for further details.



	Year Ended 31 March 2019
(Millions of US dollars)	North America Fiber Cement		Asia Pacific Fiber Cement		Europe Building Products		Other Businesses		Consolidated
Fiber cement revenues	$	1,676.9	$	446.8	$	35.8	$	—	$	2,159.5
Fiber gypsum revenues	—		—		332.5		—		332.5
Other revenues	—		—		—		14.6		14.6
Total revenues	$	1,676.9	$	446.8	$	368.3	$	14.6	$	2,506.6



	Year Ended 31 March 2018
(Millions of US dollars)	North America Fiber Cement		Asia Pacific Fiber Cement		Europe Building Products		Other Businesses		Consolidated
Fiber cement revenues	$	1,578.1	$	425.4	$	36.3	$	—	$	2,039.8
Fiber gypsum revenues	—		—		—		—		—
Other revenues	—		—		—		14.7		14.7
Total revenues	$	1,578.1	$	425.4	$	36.3	$	14.7	$	2,054.5

The process by which the Company recognizes revenues is similar across each of the Company's reportable segments and is described in further detail below. Fiber cement and fiber gypsum revenues are primarily generated from the sale of siding and various boards used in internal and external applications, as well as accessories. Fiber gypsum revenues also includes the sale of cement-bonded boards in the Europe Building Products segment. Other revenues in the Other Businesses segment were generated from the sale of fiberglass products and windows in North America.

The Company recognizes revenues when the requisite performance obligation has been met, that is, when the Company transfers control of its products to customers, which depending on the terms of the underlying contract, is generally upon delivery. The Company considers shipping and handling activities that it performs as activities to fulfill the sales of its products, with amounts billed for such costs included in net sales and the associated costs incurred for such services recorded in cost of sales, in accordance with the practical expedient provided by ASC 606.

Certain of the Company's customers receive discounts and rebates as sales incentives, amounts which are recorded as a reduction to revenue at the time the revenue is recognized. These amounts are an estimate recorded by the Company based on historical experience and contractual obligations, the underlying assumptions of which are periodically reviewed and adjusted by the Company, as necessary.

The Company’s contracts are generally short-term in nature, generally not exceeding twelve months, with payment terms varying by the type and location of products or services offered; however, the period between invoicing and when payment is due is not significant.