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REVENUES (Tables) | 3 Months Ended
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Mar. 31, 2025
REVENUES |
Schedule of operating lease revenue | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | First Quarter Ended
​ | ​ | March 31
(millions) | ​ | 2025 | ​ | 2024
Operating lease revenue* | ​ | ​ | $136.5 | ​ | ​ | ​ | $133.2 | ​
Schedule of principal activities, separated by reportable segments and geographic region | Net sales at public exchange rates by reportable segment are as follows:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | First Quarter Ended
​ | ​ | March 31
(millions) |  | 2025 | ​ | 2024 |
Global Water | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Product and sold equipment |  | ​ | $1,600.3 | ​ | ​ | ​ | $1,612.2 | ​
Service and lease equipment |  | ​ | 226.1 | ​ | ​ | ​ | 226.7 | ​
Global Institutional & Specialty |  | ​ | ​ | ​ | ​ | ​ | ​ | ​
Product and sold equipment | ​ | ​ | 1,140.3 | ​ | ​ | ​ | 1,215.2 | ​
Service and lease equipment | ​ | ​ | 277.7 | ​ | ​ | ​ | 265.0 | ​
Global Pest Elimination | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Product and sold equipment | ​ | ​ | - | ​ | ​ | ​ | - | ​
Service and lease equipment | ​ | ​ | 280.6 | ​ | ​ | ​ | 266.1 | ​
Global Life Sciences | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Product and sold equipment | ​ | ​ | 161.3 | ​ | ​ | ​ | 159.1 | ​
Service and lease equipment | ​ | ​ | 8.7 | ​ | ​ | ​ | 7.6 | ​
Total | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total product and sold equipment | ​ | ​ | $2,901.9 | ​ | ​ | ​ | $2,986.5 | ​
Total service and lease equipment | ​ | ​ | $793.1 | ​ | ​ | ​ | $765.4 | ​
​ ​ Net sales at public exchange rates by geographic region for the first quarter ended March 31 are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Global | ​ | Global Institutional | ​ | Global | ​ | Global | ​
​ | ​ | Water | ​ | & Specialty | ​ | Pest Elimination | ​ | Life Sciences | ​
​ |  | 2025 |  | 2024 |  | 2025 |  | 2024 |  | 2025 |  | 2024 |  | 2025 |  | 2024 | ​
​ | ​ |  | ​ |  | ​ |  | ​ | ​ |  | ​ |  | ​ |  | ​ |  |  | ​ |  | ​ |  | ​ |  |  | ​ |  | ​ |  | ​ | ​
United States | ​ | ​ | $816.9 | ​ | ​ | ​ | $791.0 | ​ | ​ | $938.5 | ​ | ​ | ​ | $974.1 | ​ | ​ | $195.2 | ​ | ​ | ​ | $181.7 | ​ | ​ | $49.1 | ​ | ​ | ​ | $45.4 | ​
Europe |  | ​ | 356.3 | ​ | ​ | ​ | 363.3 | ​ | ​ | 226.0 | ​ | ​ | ​ | 245.6 | ​ | ​ | 44.3 | ​ | ​ | ​ | 43.2 | ​ | ​ | 85.8 | ​ | ​ | ​ | 96.3 | ​
Asia Pacific |  | ​ | 221.0 | ​ | ​ | ​ | 230.4 | ​ | ​ | 75.2 | ​ | ​ | ​ | 78.6 | ​ | ​ | 7.9 | ​ | ​ | ​ | 7.6 | ​ | ​ | 10.3 | ​ | ​ | ​ | 7.5 | ​
Latin America |  | ​ | 180.3 | ​ | ​ | ​ | 196.2 | ​ | ​ | 49.2 | ​ | ​ | ​ | 55.1 | ​ | ​ | 14.1 | ​ | ​ | ​ | 14.5 | ​ | ​ | 5.1 | ​ | ​ | ​ | 4.5 | ​
India, Middle East and Africa | ​ | ​ | 100.0 | ​ | ​ | ​ | 106.1 | ​ | ​ | 21.8 | ​ | ​ | ​ | 21.5 | ​ | ​ | 1.7 | ​ | ​ | ​ | 1.7 | ​ | ​ | 7.3 | ​ | ​ | ​ | 3.1 | ​
Greater China | ​ | ​ | 98.2 | ​ | ​ | ​ | 99.0 | ​ | ​ | 49.8 | ​ | ​ | ​ | 46.8 | ​ | ​ | 14.7 | ​ | ​ | ​ | 14.7 | ​ | ​ | 11.5 | ​ | ​ | ​ | 9.4 | ​
Canada | ​ | ​ | 53.7 | ​ | ​ | ​ | 52.9 | ​ | ​ | 57.5 | ​ | ​ | ​ | 58.5 | ​ | ​ | 2.7 | ​ | ​ | ​ | 2.7 | ​ | ​ | 0.9 | ​ | ​ | ​ | 0.5 | ​
Total | ​ | ​ | $1,826.4 | ​ | ​ | ​ | $1,838.9 | ​ | ​ | $1,418.0 | ​ | ​ | ​ | $1,480.2 | ​ | ​ | $280.6 | ​ | ​ | ​ | $266.1 | ​ | ​ | $170.0 | ​ | ​ | ​ | $166.7 | ​
Summarized activity in the allowance for doubtful accounts | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | First Quarter Ended
​ | ​ | March 31
(millions) |  | 2025 |  | 2024
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Beginning balance | ​ | ​ | $70.0 | ​ | ​ | ​ | $77.3 | ​
Bad debt expense |  |  | 12.2 | ​ | ​ |  | 13.2 | ​
Write-offs |  |  | (9.6) | ​ | ​ |  | (10.6) | ​
Other (a) |  |  | 0.5 | ​ | ​ |  | (0.9) | ​
Ending balance | ​ | ​ | $73.1 | ​ | ​ | ​ | $79.0 | ​
​
(a) | O ther amounts are primarily the effects of changes in currency translations.
​
Schedule of contract liability | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | First Quarter Ended
​ | ​ | March 31
(millions) |  | 2025 | ​ | 2024 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Contract liability as of beginning of the year |  | ​ | $102.0 | ​ | ​ | ​ | $110.9 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Revenue recognized in the period from: |  | ​ | ​ | ​ | ​ | ​ | ​ |
Amounts included in the contract liability at the beginning of the year |  | ​ | (102.0) | ​ | ​ | ​ | (110.9) |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Increases due to billings excluding amounts recognized as revenue during the period ended | ​ | ​ | 110.6 | ​ | ​ | ​ | 118.0 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Contract liability as of end of period | ​ | ​ | $110.6 | ​ | ​ | ​ | $118.0 | ​

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