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Contract Assets and Contract Liabilities (Tables)

9 Months Ended

Sep. 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 nine months ended September 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			441.6						759.2
Reclassified to accounts receivable			(423.5)						(868.7)
Foreign currency impact			(6.2)						(0.7)
Balance at September 30			$	556.1					$	517.3
			Contract Liabilities
In millions			2021						2020
Balance at beginning of year			$	831.2					$	799.7
Acquisitions			1.7						6.9
Recognized in current year			477.0						589.1
Amounts in beginning balance reclassified to revenue			(387.2)						(430.0)
Current year amounts reclassified to revenue			(154.3)						(152.6)
Foreign currency impact			(8.6)						(3.3)
Balance at September 30			$	759.8					$	809.8

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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

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- References

No definition available.

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