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CONTRACT ASSETS AND CONTRACT LIABILITIES (Tables) | 12 Months Ended
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Dec. 31, 2020
Revenue from Contract with Customer [Abstract] |
Contract with Customer, Asset and Liability | The following table reconciles the changes in the Company’s contract assets and liabilities as follows:
|  | Contract Assets
In millions |  | 2020 |  | 2019
Balance at beginning of year |  | $ | 623.4 |  |  | $ | 345.6 |
Acquisitions |  | 4.1 |  |  | 237.5 |
Recognized in current year |  | 849.7 |  |  | 619.3 |
Reclassified to accounts receivable |  | (950.4) |  |  | (578.6) |
Foreign currency impact |  | 17.4 |  |  | (0.4) |
Balance at end of year |  | $ | 544.2 |  |  | $ | 623.4 |
|  | Contract Liabilities
In millions |  | 2020 |  | 2019
Balance at beginning of year |  | $ | 799.7 |  |  | $ | 444.8 |
Acquisitions |  | 6.9 |  |  | 333.9 |
Recognized in current year |  | 871.9 |  |  | 917.5 |
Amounts in beginning balance reclassified to revenue |  | (532.4) |  |  | (410.6) |
Current year amounts reclassified to revenue |  | (325.7) |  |  | (483.5) |
Foreign currency impact |  | 10.8 |  |  | (2.4) |
Balance at end of year |  | $ | 831.2 |  |  | $ | 799.7 |

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- Definition 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. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130551-203045 + Details
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