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Revenue Recognition (Tables)

3 Months Ended

Dec. 31, 2021

Sales And Revenue Recognition [Abstract]

Schedule of Impact Due to Contract Adjustments

Contract adjustments impacted the Company’s results as follows (in millions, except for per share amounts):

		Three Months Ended December 31,
		2021				2020
Net sales		$	(0.1	)		$	16.1
Operating income			(7.7	)			14.8
Net income			(5.9	)			11.3
Diluted earnings per share		$	(0.09	)		$	0.16

Disaggregation of Revenue

Consolidated net sales disaggregated by segment and timing of revenue recognition are as follows (in millions):

		Three Months Ended December 31, 2021
		Access Equipment				Defense				Fire & Emergency				Commercial				Corporate and Intersegment Eliminations				Total
Point in time		$	818.8			$	4.0			$	214.7			$	135.8			$	(2.7	)		$	1,170.6
Over time			14.7				527.5				3.9				74.8				0.2				621.1
		$	833.5			$	531.5			$	218.6			$	210.6			$	(2.5	)		$	1,791.7

		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

Schedule of Contract Liabilities and Revenue Recognized

Contract liabilities consisted of the following (in millions):

		December 31,				September 30,
		2021				2021
Customer advances		$	690.9			$	654.3
Other current liabilities			81.9				82.0
Other long-term liabilities			261.9				175.2
Total contract liabilities		$	1,034.7			$	911.5

		Three Months Ended December 31,
		2021				2020
Beginning liabilities recognized in revenue		$	126.9			$	188.1

Schedule of Deferred Contract Costs

Deferred contract costs, the majority of which related to the NGDV contact, consisted of the following (in millions):

		December 31,				September 30,
		2021				2021
Costs for anticipated contracts		$	4.9			$	4.8
Engineering costs			60.0				42.3
Factory setup costs			4.1				2.2
Supplier-owned tooling			4.2				1.3
Deferred contract related costs		$	73.2			$	50.6

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,
		2021				2020
Balance at beginning of period		$	65.8			$	64.4
Deferred revenue for new service warranties			6.4				5.0
Amortization of deferred revenue			(5.3	)			(6.8	)
Foreign currency translation			—				0.4
Balance at end of period		$	66.9			$	63.0

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

		Three Months Ended December 31,
		2021				2020
Balance at beginning of period		$	69.0			$	67.4
Warranty provisions			10.8				13.8
Settlements made			(14.6	)			(14.2	)
Changes in liability for pre-existing warranties, net			0.5				(2.6	)
Foreign currency translation			—				0.2
Balance at end of period		$	65.7			$	64.6

Schedule of Classification of Service-type Warranties in Condensed Consolidated Balance Sheets

Classification of service-type warranties in the Condensed Consolidated Balance Sheets consisted of the following (in millions):

		December 31,				September 30,
		2021				2021
Other current liabilities		$	22.3			$	21.8
Other long-term liabilities			44.6				44.0
		$	66.9			$	65.8

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