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Revenue Recognition (Tables)

3 Months Ended

Dec. 31, 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 December 31,
		2020				2019
Net sales		$	16.1			$	7.6
Operating income			14.8				3.8
Net income			11.3				3.0
Diluted earnings per share			0.16				0.04

Disaggregation of Revenue

The table below presents consolidated net sales disaggregated by segment and timing of revenue recognition (in millions):

		Three Months Ended December 31, 2020
		Access Equipment				Defense				Fire & Emergency				Commercial				Corporate and Intersegment Eliminations				Total
Point in time		$	548.1			$	19.6			$	268.9			$	114.8			$	(7.1	)		$	944.3
Over time			15.6				530.7				5.0				80.9				—				632.2
		$	563.7			$	550.3			$	273.9			$	195.7			$	(7.1	)		$	1,576.5

		Three Months Ended December 31, 2019
		Access Equipment				Defense (a)				Fire & Emergency (a)				Commercial				Corporate and Intersegment Eliminations (a)				Total
Point in time		$	695.3			$	3.9			$	250.5			$	119.4			$	(4.9	)		$	1,064.2
Over time			22.6				496.5				6.4				104.8				0.6				630.9
		$	717.9			$	500.4			$	256.9			$	224.2			$	(4.3	)		$	1,695.1

^(a) Results have been reclassified to reflect the move of the airport snow removal vehicle business from the Fire & Emergency segment to the Defense segment.

Schedule of Contract Liabilities and Revenue Recognized

Contract liabilities consisted of the following (in millions).

		December 31,				September 30,
		2020				2020
Customer advances		$	684.6			$	491.4
Other current liabilities			55.1				59.5
Other long-term liabilities			57.9				53.7
Total contract liabilities		$	797.6			$	604.6

		Three Months Ended December 31,
		2020				2019
Beginning liabilities recognized in revenue		$	188.1			$	172.9

Schedule of Changes in Warranty Liability and Unearned Extended Warranty Premiums

Changes in the Company’s service-type warranties were as follows (in millions):

		Three Months Ended December 31,
		2020				2019
Balance at beginning of period		$	64.4			$	68.2
Deferred revenue for new service warranties			5.0				5.9
Amortization of deferred revenue			(6.8	)			(7.2	)
Foreign currency translation			0.4				0.3
Balance at end of period		$	63.0			$	67.2

Changes in the Company’s assurance-type warranty liability were as follows (in millions):

		Three Months Ended December 31,
		2020				2019
Balance at beginning of period		$	67.4			$	65.1
Warranty provisions			13.8				10.6
Settlements made			(14.2	)			(11.0	)
Changes in liability for pre-existing warranties, net			(2.6	)			(0.5	)
Foreign currency translation			0.2				0.1
Balance at end of period		$	64.6			$	64.3

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):

		December 31,				September 30,
		2020				2020
Other current liabilities		$	24.4			$	24.7
Other long-term liabilities			38.6				39.7
		$	63.0			$	64.4

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Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability.

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-Publisher FASB
-Name Accounting Standards Codification
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