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Reporting Segment And Geographic Information | 12 Months Ended
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Dec. 31, 2021
Segment Reporting, Measurement Disclosures [Abstract] |
Reporting Segment And Geographic Information | REPORTING SEGMENT AND GEOGRAPHIC INFORMATION We determined our operating segments based on how our Chief Operating Decision Maker (“CODM”) views and evaluates operations. Various factors, including market separation and customer-specific applications, go-to-market channels, and products and services, were considered in determining these operating segments. Our CODM regularly reviews our segment operating results to make decisions about resources to be allocated to each segment and assess performance. In each of our segments, we sell many individual products. For this reason, it is impracticable to segregate and identify revenue for each of the individual products or group of products we sell. Our reportable segments are described below: •Buildings and Infrastructure. This segment primarily serves customers working in architecture, engineering, construction, and operations and maintenance. •Geospatial. This segment primarily serves customers working in surveying, engineering, and government. •Resources and Utilities. This segment primarily serves customers working in agriculture, forestry, and utilities. •Transportation. This segment primarily serves customers working in long haul trucking and freight shipper markets. The following Reporting Segment tables reflect the results of our reportable operating segments under our management reporting system. These results are not necessarily in conformity with U.S. GAAP. This is consistent with the way the CODM evaluates each of the segment's performance and allocates resources.
| Reporting Segments
| Buildings and Infrastructure |  | Geospatial |  | Resources and Utilities |  | Transportation |  | Total
(In millions) |  |  |  |  |  |  |  |  |
2021 |  |  |  |  |  |  |  |  |
Revenue | $ | 1,422.5 |  |  | $ | 828.9 |  |  | $ | 771.3 |  |  | $ | 636.4 |  |  | $ | 3,659.1 |
Purchase accounting adjustments(1) | 0.2 |  |  | — |  |  | — |  |  | 0.1 |  |  | 0.3 |
Segment revenue | $ | 1,422.7 |  |  | $ | 828.9 |  |  | $ | 771.3 |  |  | $ | 636.5 |  |  | $ | 3,659.4 |
Operating income | $ | 415.6 |  |  | $ | 244.1 |  |  | $ | 264.0 |  |  | $ | 43.6 |  |  | $ | 967.3 |
Purchase accounting adjustments(2) | (3.9) |  |  | — |  |  | — |  |  | (0.2) |  |  | (4.1) |
Segment operating income | $ | 411.7 |  |  | $ | 244.1 |  |  | $ | 264.0 |  |  | $ | 43.4 |  |  | $ | 963.2 |
Depreciation expense | $ | 7.0 |  |  | $ | 7.0 |  |  | $ | 5.9 |  |  | $ | 4.1 |  |  | $ | 24.0 |
2020 |  |  |  |  |  |  |  |  |
Revenue | $ | 1,230.7 |  |  | $ | 650.5 |  |  | $ | 627.3 |  |  | $ | 639.2 |  |  | $ | 3,147.7 |
Purchase accounting adjustments(1) | 0.3 |  |  | — |  |  | 2.7 |  |  | 1.3 |  |  | 4.3 |
Segment revenue | $ | 1,231.0 |  |  | $ | 650.5 |  |  | $ | 630.0 |  |  | $ | 640.5 |  |  | $ | 3,152.0 |
Operating income | $ | 343.0 |  |  | $ | 184.4 |  |  | $ | 218.4 |  |  | $ | 49.0 |  |  | $ | 794.8 |
Purchase accounting adjustments(2) | (4.9) |  |  | — |  |  | 2.6 |  |  | 1.1 |  |  | (1.2) |
Segment operating income | $ | 338.1 |  |  | $ | 184.4 |  |  | $ | 221.0 |  |  | $ | 50.1 |  |  | $ | 793.6 |
Depreciation expense | $ | 8.1 |  |  | $ | 6.2 |  |  | $ | 5.6 |  |  | $ | 4.1 |  |  | $ | 24.0 |
2019 |  |  |  |  |  |  |  |  |
Revenue | $ | 1,254.2 |  |  | $ | 649.4 |  |  | $ | 568.4 |  |  | $ | 792.3 |  |  | $ | 3,264.3 |
Purchase accounting adjustments(1) | 4.0 |  |  | — |  |  | 3.0 |  |  | — |  |  | 7.0 |
Segment revenue | $ | 1,258.2 |  |  | $ | 649.4 |  |  | $ | 571.4 |  |  | $ | 792.3 |  |  | $ | 3,271.3 |
Operating income | $ | 322.1 |  |  | $ | 132.2 |  |  | $ | 166.2 |  |  | $ | 125.9 |  |  | $ | 746.4 |
Purchase accounting adjustments(2) | (2.2) |  |  | — |  |  | 2.9 |  |  | — |  |  | 0.7 |
Segment operating income | $ | 319.9 |  |  | $ | 132.2 |  |  | $ | 169.1 |  |  | $ | 125.9 |  |  | $ | 747.1 |
Depreciation expense | $ | 8.1 |  |  | $ | 6.3 |  |  | $ | 4.4 |  |  | $ | 4.4 |  |  | $ | 23.2 |
(1) Includes acquired deferred revenue adjustments of certain acquired deferred revenue that was written down to fair value in purchase accounting.
(2) Includes acquired deferred revenue adjustments and amortization of acquired capitalized commissions.
| Reporting Segments
| Buildings and Infrastructure |  | Geospatial |  | Resources and Utilities |  | Transportation |  | Total
(In millions) |  |  |  |  |  |  |  |  |
As of Year End 2021 |  |  |  |  |  |  |  |  |
Accounts receivable, net | $ | 246.8 |  |  | $ | 134.0 |  |  | $ | 112.9 |  |  | $ | 131.1 |  |  | $ | 624.8 |
Inventories | 79.3 |  |  | 136.4 |  |  | 67.4 |  |  | 80.2 |  |  | 363.3 |
Goodwill | 2,141.4 |  |  | 403.6 |  |  | 440.8 |  |  | 995.7 |  |  | 3,981.5 |
As of Year End 2020 |  |  |  |  |  |  |  |  |
Accounts receivable, net | $ | 260.1 |  |  | $ | 117.5 |  |  | $ | 91.2 |  |  | $ | 151.7 |  |  | $ | 620.5 |
Inventories | 59.1 |  |  | 120.1 |  |  | 49.0 |  |  | 73.5 |  |  | 301.7 |
Goodwill | 1,997.4 |  |  | 415.7 |  |  | 453.8 |  |  | 1,009.6 |  |  | 3,876.5 |
As of Year End 2019 |  |  |  |  |  |  |  |  |
Accounts receivable, net | $ | 232.0 |  |  | $ | 115.5 |  |  | $ | 93.3 |  |  | $ | 167.4 |  |  | $ | 608.2 |
Inventories | 67.1 |  |  | 125.0 |  |  | 45.5 |  |  | 74.5 |  |  | 312.1 |
Goodwill | 1,973.0 |  |  | 401.5 |  |  | 445.4 |  |  | 860.7 |  |  | 3,680.6 |
A reconciliation of our consolidated segment operating income to consolidated income before income taxes was as follows:
| 2021 |  | 2020 |  | 2019
(In millions) |  |  |  |  |
Consolidated segment operating income | $ | 963.2 |  |  | $ | 793.6 |  |  | $ | 747.1 |
Unallocated general corporate expenses | (106.2) |  |  | (74.0) |  |  | (73.1) |
Purchase accounting adjustments (1) | (134.5) |  |  | (156.6) |  |  | (168.5) |
Acquisition / divestiture items | (21.8) |  |  | (21.4) |  |  | (20.5) |
Stock-based compensation / deferred compensation | (128.6) |  |  | (90.4) |  |  | (81.2) |
Restructuring and other costs | (11.1) |  |  | (31.4) |  |  | (27.9) |
Consolidated operating income | 561.0 |  |  | 419.8 |  |  | 375.9 |
Total non-operating income (expense), net | 13.6 |  |  | (24.8) |  |  | (31.1) |
Consolidated income before taxes | $ | 574.6 |  |  | $ | 395.0 |  |  | $ | 344.8 |
(1) Purchase accounting adjustments include acquired deferred revenue adjustments, amortization of acquired capitalized commissions, and amortization of purchased intangible assets. The disaggregation of revenue by geography is summarized in the tables below. Revenue is defined as revenue from external customers attributed to countries based on the location of the customer and excludes the effects of certain acquired deferred revenue that was written down to fair value in purchase accounting, consistent with the Reporting Segment tables above.
| Reporting Segments |
| Buildings and Infrastructure |  | Geospatial |  | Resources and Utilities |  | Transportation |  | Total |
(In millions) |  |  |  |  |  |  |  |  |  |
2021 |  |  |  |  |  |  |  |  |  |
North America | $ | 823.5 |  |  | $ | 337.3 |  |  | $ | 212.2 |  |  | $ | 493.1 |  |  | $ | 1,866.1 |  |
Europe | 386.6 |  |  | 282.3 |  |  | 368.4 |  |  | 87.3 |  |  | 1,124.6 |  |
Asia Pacific | 188.4 |  |  | 161.4 |  |  | 67.3 |  |  | 30.2 |  |  | 447.3 |  |
Rest of World | 24.2 |  |  | 47.9 |  |  | 123.4 |  |  | 25.9 |  |  | 221.4 |  |
Total segment revenue | $ | 1,422.7 |  |  | $ | 828.9 |  |  | $ | 771.3 |  |  | $ | 636.5 |  |  | $ | 3,659.4 |  |
2020 |  |  |  |  |  |  |  |  |  |
North America | $ | 703.4 |  |  | $ | 249.9 |  |  | $ | 191.4 |  |  | $ | 502.5 |  |  | $ | 1,647.2 |  |
Europe | 337.1 |  |  | 222.3 |  |  | 284.3 |  |  | 78.4 |  |  | 922.1 |  |
Asia Pacific | 165.7 |  |  | 138.2 |  |  | 64.5 |  |  | 34.9 |  |  | 403.3 |  |
Rest of World | 24.8 |  |  | 40.1 |  |  | 89.8 |  |  | 24.7 |  |  | 179.4 |  |
Total segment revenue | $ | 1,231.0 |  |  | $ | 650.5 |  |  | $ | 630.0 |  |  | $ | 640.5 |  |  | $ | 3,152.0 |  |
2019 |  |  |  |  |  |  |  |  |  |
North America | $ | 722.7 |  |  | $ | 263.0 |  |  | $ | 173.3 |  |  | $ | 636.3 |  |  | $ | 1,795.3 |  |
Europe | 338.7 |  |  | 217.5 |  |  | 273.6 |  |  | 90.4 |  |  | 920.2 |  |
Asia Pacific | 165.3 |  |  | 122.7 |  |  | 47.4 |  |  | 39.7 |  |  | 375.1 |  |
Rest of World | 31.5 |  |  | 46.2 |  |  | 77.1 |  |  | 25.9 |  |  | 180.7 |  |
Total segment revenue | $ | 1,258.2 |  |  | $ | 649.4 |  |  | $ | 571.4 |  |  | $ | 792.3 |  |  | $ | 3,271.3 |  |
Total revenue in the United States as included in the Consolidated Statements of Income was $1,687.4 million, $1,502.3 million, and $1,641.0 million in 2021, 2020, and 2019. No single customer or country other than the United States accounted for 10% or more of our total revenue in 2021, 2020, and 2019. No single customer accounted for 10% or more of our accounts receivable at the end of 2021 and 2020. Property and equipment, net by geographic area were as follows:
At the End of Year | 2021 |  | 2020
(In millions) |  |  |
Property and equipment, net: |  |  |
United States | $ | 171.3 |  |  | $ | 200.3 |
Europe | 44.8 |  |  | 41.0 |
Asia Pacific and Rest of World | 17.1 |  |  | 10.5 |
Total property and equipment, net | $ | 233.2 |  |  | $ | 251.8 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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