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Revenue Recognition (Tables)

6 Months Ended

Jun. 30, 2023

Sales And Revenue Recognition [Abstract]

Schedule of Impact Due to Contract Adjustments

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

		Three Months Ended June 30,								Six Months Ended June 30,
		2023				2022				2023				2022
Net sales		$	0.1			$	(18.2	)		$	(8.4	)		$	(23.6	)
Operating income			(11.3	)			(23.6	)			(25.8	)			(31.7	)
Net income			(8.6	)			(18.1	)			(19.8	)			(24.3	)
Diluted earnings per share		$	(0.13	)		$	(0.27	)		$	(0.30	)		$	(0.37	)

Schedule of Deferred Contract Costs

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

		June 30,				December 31,
		2023				2022
Costs for anticipated contracts		$	6.1			$	6.8
Engineering costs			334.3				256.1
Factory setup costs			27.6				16.4
Customer-owned tooling			182.9				136.5
Deferred contract costs		$	550.9			$	415.8

Disaggregation of Revenue

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

		Three Months Ended June 30, 2023
		Access				Defense				Vocational				Corporate and Intersegment Eliminations				Total
Point in time		$	1,315.3			$	2.7			$	481.7			$	(0.8	)		$	1,798.9
Over time			13.0				495.4				105.8				—				614.2
		$	1,328.3			$	498.1			$	587.5			$	(0.8	)		$	2,413.1

		Three Months Ended June 30, 2022
		Access				Defense				Vocational				Corporate and Intersegment Eliminations				Total
Point in time		$	965.4			$	2.2			$	439.1			$	(2.2	)		$	1,404.5
Over time			11.7				537.1				112.7				—				661.5
		$	977.1			$	539.3			$	551.8			$	(2.2	)		$	2,066.0

		Six Months Ended June 30, 2023
		Access				Defense				Vocational				Corporate and Intersegment Eliminations				Total
Point in time		$	2,495.8			$	6.2			$	928.9			$	(1.7	)		$	3,429.2
Over time			25.7				1,005.0				221.3				—				1,252.0
		$	2,521.5			$	1,011.2			$	1,150.2			$	(1.7	)		$	4,681.2

		Six Months Ended June 30, 2022
		Access				Defense				Vocational				Corporate and Intersegment Eliminations				Total
Point in time		$	1,835.3			$	4.3			$	876.0			$	(4.5	)		$	2,711.1
Over time			24.9				1,070.6				205.1				—				1,300.6
		$	1,860.2			$	1,074.9			$	1,081.1			$	(4.5	)		$	4,011.7

Schedule of Contract Liabilities and Revenue Recognized

Contract liabilities consisted of the following (in millions):

		June 30,				December 31,
		2023				2022
Customer advances		$	628.7			$	696.7
Other current liabilities			89.6				77.4
Long-term customer advances			1,101.8				1,020.5
Other long-term liabilities			67.3				66.8
Total contract liabilities		$	1,887.4			$	1,861.4

		Three Months Ended June 30,								Six Months Ended June 30,
		2023				2022				2023				2022
Beginning liabilities recognized in revenue		$	158.4			$	196.5			$	347.6			$	314.8

Schedule of Changes in Warranty Liability and Unearned Extended Warranty Premiums

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

		Six Months Ended June 30,
		2023				2022
Balance at beginning of period		$	76.1			$	66.9
Deferred revenue for new service warranties			18.2				14.8
Amortization of deferred revenue			(13.0	)			(10.6	)
Foreign currency translation			0.1				(0.5	)
Balance at end of period		$	81.4			$	70.6

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

		Six Months Ended June 30,
		2023				2022
Balance at beginning of period		$	58.8			$	65.7
Warranty provisions			28.0				24.9
Settlements made			(24.3	)			(29.8	)
Changes in liability for pre-existing warranties, net			(1.9	)			0.3
Disposition of business			(0.5	)			(0.3	)
Acquisition of business			0.2				0.2
Balance at end of period		$	60.3			$	61.0

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):

		June 30,				December 31,
		2023				2022
Other current liabilities		$	27.6			$	26.8
Other long-term liabilities			53.8				49.3
		$	81.4			$	76.1

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