Parenting time is a new term that replaces child custody.  Formerly, child custody focused on decisions concerning with which parent the children would reside.  Such parent would be the “custodial” parent, while the other parent was said to have “visitation.”
These terms have become outdated, as both parents are now assumed to be entitled to significant time with their children (or “parenting time”).  Thus, the terms “custody” and “visitation” denigrate the relationship to which parents are entitled with respect to their children.