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Contract Assets and Contract Liabilities (Tables) | 6 Months Ended
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Jun. 30, 2021
Revenue from Contract with Customer [Abstract] |
Schedule of Change in Carrying Amount of Contract Assets and Contract Liabilities | The change in the carrying amount of contract assets and contract liabilities for the six months ended June 30, 2021 and 2020 is as follows:
| Contract Assets
In millions | 2021 |  | 2020
Balance at beginning of year | $ | 544.2 |  |  | $ | 623.4 |
Acquisitions | — |  |  | 4.1 |
Recognized in current year | 369.5 |  |  | 451.8 |
Reclassified to accounts receivable | (364.0) |  |  | (519.1) |
Foreign currency impact | (4.5) |  |  | (6.2) |
Balance at June 30 | $ | 545.2 |  |  | $ | 554.0 |
| Contract Liabilities
In millions | 2021 |  | 2020
Balance at beginning of year | $ | 831.2 |  |  | $ | 799.7 |
Acquisitions | 1.7 |  |  | 6.8 |
Recognized in current year | 339.3 |  |  | 424.7 |
Amounts in beginning balance reclassified to revenue | (316.7) |  |  | (333.9) |
Current year amounts reclassified to revenue | (63.3) |  |  | (107.5) |
Foreign currency impact | (6.1) |  |  | (12.0) |
Balance at June 30 | $ | 786.1 |  |  | $ | 777.8 |

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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=123351226&loc=SL49130551-203045 + Details
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- References No definition available. + Details
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