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Revenue Recognition (Tables) | 9 Months Ended
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Jun. 30, 2020
Sales And Revenue Recognition [Abstract] |
Schedule of Changes Within Defense Segment Due to Contract Adjustments | Contract adjustments resulted in changes within the Defense segment as follows (in millions, except for per share amounts):
|  | Three Months Ended June 30, |  |  | Nine Months Ended June 30, |
|  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |
Net sales |  | $ | 4.5 |  |  | $ | (0.4 | ) |  | $ | 28.2 |  |  | $ | 55.7 |
Operating income |  |  | 1.6 |  |  |  | (10.5 | ) |  |  | 15.2 |  |  |  | 37.6 |
Net income |  |  | 1.2 |  |  |  | (8.2 | ) |  |  | 11.6 |  |  |  | 28.9 |
Diluted earnings per share |  |  | 0.02 |  |  |  | (0.12 | ) |  |  | 0.17 |  |  |  | 0.41 |
Disaggregation of Revenue | The table below presents consolidated net sales disaggregated by segment and timing of revenue recognition (in millions):
|  | Three Months Ended June 30, 2020 |
|  | Access Equipment |  |  | Defense |  |  | Fire & Emergency |  |  | Commercial |  |  | Corporate and intersegment eliminations |  |  | Total |
Point in time |  | $ | 472.1 |  |  | $ | 0.4 |  |  | $ | 298.7 |  |  | $ | 153.5 |  |  | $ | (13.2 | ) |  | $ | 911.5 |
Over time |  |  | 15.9 |  |  |  | 547.1 |  |  |  | 12.0 |  |  |  | 94.2 |  |  |  | 0.1 |  |  |  | 669.3 |
|  | $ | 488.0 |  |  | $ | 547.5 |  |  | $ | 310.7 |  |  | $ | 247.7 |  |  | $ | (13.1 | ) |  | $ | 1,580.8 |
|  | Three Months Ended June 30, 2019 |
|  | Access Equipment |  |  | Defense |  |  | Fire & Emergency |  |  | Commercial |  |  | Corporate and intersegment eliminations |  |  | Total |
Point in time |  | $ | 1,231.1 |  |  | $ | 0.5 |  |  | $ | 319.9 |  |  | $ | 176.5 |  |  | $ | (4.6 | ) |  | $ | 1,723.4 |
Over time |  |  | 18.0 |  |  |  | 510.6 |  |  |  | 21.1 |  |  |  | 119.6 |  |  |  | — |  |  |  | 669.3 |
|  | $ | 1,249.1 |  |  | $ | 511.1 |  |  | $ | 341.0 |  |  | $ | 296.1 |  |  | $ | (4.6 | ) |  | $ | 2,392.7 |
|  | Nine Months Ended June 30, 2020 |
|  | Access Equipment |  |  | Defense |  |  | Fire & Emergency |  |  | Commercial |  |  | Corporate and intersegment eliminations |  |  | Total |
Point in time |  | $ | 1,838.2 |  |  | $ | 1.3 |  |  | $ | 793.6 |  |  | $ | 391.0 |  |  | $ | (20.6 | ) |  | $ | 3,003.5 |
Over time |  |  | 60.7 |  |  |  | 1,654.3 |  |  |  | 35.1 |  |  |  | 317.6 |  |  |  | 1.4 |  |  |  | 2,069.1 |
|  | $ | 1,898.9 |  |  | $ | 1,655.6 |  |  | $ | 828.7 |  |  | $ | 708.6 |  |  | $ | (19.2 | ) |  | $ | 5,072.6 |
|  | Nine Months Ended June 30, 2019 |
|  | Access Equipment |  |  | Defense |  |  | Fire & Emergency |  |  | Commercial |  |  | Corporate and intersegment eliminations |  |  | Total |
Point in time |  | $ | 3,007.8 |  |  | $ | 2.2 |  |  | $ | 885.1 |  |  | $ | 445.8 |  |  | $ | (14.7 | ) |  | $ | 4,326.2 |
Over time |  |  | 55.4 |  |  |  | 1,459.7 |  |  |  | 34.6 |  |  |  | 310.4 |  |  |  | — |  |  |  | 1,860.1 |
|  | $ | 3,063.2 |  |  | $ | 1,461.9 |  |  | $ | 919.7 |  |  | $ | 756.2 |  |  | $ | (14.7 | ) |  | $ | 6,186.3 |
Schedule of Changes in Warranty Liability and Unearned Extended Warranty Premiums | Changes in the Company’s service-type warranties were as follows (in millions):
|  | Nine Months Ended June 30, |
|  | 2020 |  |  | 2019 |
Balance at beginning of period |  | $ | 68.2 |  |  | $ | 30.7 |
Adoption of ASC 606 |  |  | — |  |  |  | 35.7 |
Deferred revenue for new service warranties |  |  | 17.3 |  |  |  | 21.0 |
Amortization of deferred revenue |  |  | (21.1 | ) |  |  | (18.8 | )
Changes in liability for pre-existing warranties, net |  |  | — |  |  |  | — |
Foreign currency translation |  |  | 0.3 |  |  |  | (0.2 | )
Balance at end of period |  | $ | 64.7 |  |  | $ | 68.4 |
Changes in the Company’s assurance-type warranty liability were as follows (in millions):
|  | Nine Months Ended June 30, |
|  | 2020 |  |  | 2019 |
Balance at beginning of period |  | $ | 65.1 |  |  | $ | 75.3 |
Adoption of ASC 606 |  |  | — |  |  |  | (14.4 | )
Warranty provisions |  |  | 29.3 |  |  |  | 37.5 |
Settlements made |  |  | (40.1 | ) |  |  | (37.5 | )
Changes in liability for pre-existing warranties, net |  |  | 12.1 |  |  |  | 1.2 |
Foreign currency translation |  |  | 0.1 |  |  |  | (0.2 | )
Balance at end of period |  | $ | 66.5 |  |  | $ | 61.9 |
Schedule of Classification of Service-type Warranties in Consolidated Balance Sheets | Classification of service-type warranties in the Condensed Consolidated Balance Sheets consisted of the following (in millions):
|  | June 30, |  |  | September 30, |
|  | 2020 |  |  | 2019 |
Other current liabilities |  | $ | 25.8 |  |  | $ | 27.8 |
Other long-term liabilities |  |  | 38.9 |  |  |  | 40.4 |
|  | $ | 64.7 |  |  | $ | 68.2 |

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