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Revenue Recognition (Tables)

3 Months Ended

Mar. 31, 2019

Revenue from Contract with Customer [Abstract]

Summary of the Timing of Revenue Recognition

A summary of estimated revenue expected to be recognized in the future related to performance obligations that are unsatisfied or partially unsatisfied as of March 31, 2019, follows:

(in millions)						Remainder of 2019						2020						2021						2022						2023						2024						Thereafter
Extended service warranties						$	15.8					$	20.1					$	19.1					$	17.9					$	16.7					$	15.6					$	120.1

Change in Contract Liabilities

A summary of the change in contract liabilities for the three months ended March 31, follows:

(in millions)						2019						2018
Balance as of January 1						$	227.4					$	215.8
Revenue recognized						(12.8)						(14.9)
Revenue deferred						15.6						18.2
Acquired liabilities						—						0.1
Balance as of Balance as of March 31						$	230.2					$	219.2

Schedule of Change in Contract Assets

A summary of the change in contract assets for the three months ended March 31, follows:

(in millions)						2019						2018
Balance as of January 1						$	44.7					$	—
Adoption of ASC 606						—						22.8
Revenue recognized and unbilled						58.1						33.8
Revenue billed						(44.7)						(22.8)
Balance as of March 31						$	58.1					$	33.8

Reconciliation of Disaggregated Revenue

A summary of revenues disaggregated by major end-market industries and reconciliation of disaggregated revenue by segment follows:

						Three Months Ended March 31, 2019
(in millions)						CCM						CIT						CFT						CBF						Total
General construction						$	621.6					$	—					$	—					$	—					$	621.6
Aerospace						—						173.8						—						4.6						178.4
Heavy equipment						27.2						—						—						75.2						102.4
Transportation						—						—						32.3						9.2						41.5
Medical						—						31.0						—						—						31.0
General industrial and other						22.3						41.6						30.8						2.3						97.0
Total revenues						$	671.1					$	246.4					$	63.1					$	91.3					$	1,071.9
						Three Months Ended March 31, 2018
(in millions)						CCM						CIT						CFT						CBF						Total
General construction						$	546.3					$	—					$	—					$	—					$	546.3
Aerospace						—						154.8						—						6.3						161.1
Heavy equipment						26.2						—						—						79.2						105.4
Transportation						—						—						33.2						9.8						43.0
Medical						—						34.7						—						—						34.7
General industrial and other						26.1						34.8						30.3						3.0						94.2
Total revenues						$	598.6					$	224.3					$	63.5					$	98.3					$	984.7

Revenues by Geographic Area

A summary of revenues based on the country to which the product was delivered and reconciliation of disaggregated revenue by segment follows:

						Three Months Ended March 31, 2019
(in millions)						CCM						CIT						CFT						CBF						Total
United States						$	591.2					$	182.1					$	28.0					$	32.5					$	833.8
International:
Europe						52.1						18.4						13.1						30.5						114.1
Asia						4.1						23.8						19.0						20.4						67.3
Canada						17.5						1.1						1.6						0.5						20.7
Mexico						0.4						12.4						0.5						3.3						16.6
Middle East and Africa						3.4						7.3						0.6						0.4						11.7
Other						2.4						1.3						0.3						3.7						7.7
Total international						79.9						64.3						35.1						58.8						238.1
Total revenues						$	671.1					$	246.4					$	63.1					$	91.3					$	1,071.9
						Three Months Ended March 31, 2018
(in millions)						CCM						CIT						CFT						CBF						Total
United States						$	529.0					$	155.6					$	25.6					$	41.5					$	751.7
International:
Europe						39.4						22.3						13.3						30.3						105.3
Asia						5.2						22.9						19.8						18.9						66.8
Canada						18.4						1.1						1.6						0.7						21.8
Mexico						0.9						12.0						2.1						3.6						18.6
Middle East and Africa						3.1						7.6						0.6						0.2						11.5
Other						2.6						2.8						0.5						3.1						9.0
Total international						69.6						68.7						37.9						56.8						233.0
Total revenues						$	598.6					$	224.3					$	63.5					$	98.3					$	984.7

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
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Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
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-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
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