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v3.19.2

Revenue Recognition (Tables) | 6 Months Ended
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Jun. 30, 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 June 30, 2019, follows:
(in millions) |  | Remainder of 2019 |  | 2020 |  | 2021 |  | 2022 |  | 2023 |  | 2024 |  | Thereafter
Extended service warranties |  | $ | 10.7 |  | $ | 20.6 |  | $ | 19.6 |  | $ | 18.4 |  | $ | 17.2 |  | $ | 16.1 |  | $ | 126.7
Change in Contract Liabilities | A summary of the change in contract liabilities for the six months ended June 30, follows:
(in millions) |  | 2019 |  | 2018
Balance as of January 1 |  | $ | 227.4 |  | $ | 215.8
Revenue recognized |  | (30.2) |  | (31.2)
Revenue deferred |  | 35.3 |  | 39.6
Acquired liabilities |  | 2.7 |  | 0.2
Balance as of June 30 |  | $ | 235.2 |  | $ | 224.4
Schedule of Change in Contract Assets | A summary of the change in contract assets for the six months ended June 30, follows:
(in millions) |  | 2019 |  | 2018 |  |
Balance as of January 1 |  | $ | 44.7 |  | $ | — |  |
Adoption of ASC 606 |  | — |  | 22.8 |  |
Revenue recognized and unbilled |  | 116.3 |  | 69.5 |  |
Revenue billed |  | (102.9) |  | (49.5) |  |
Balance as of June 30 |  | $ | 58.1 |  | $ | 42.8 |  |
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 June 30, 2019 |  |  |  |  |  |  |  |
(in millions) |  | CCM |  | CIT |  | CFT |  | CBF |  | Total
General construction |  | $ | 860.5 |  | $ | — |  | $ | — |  | $ | — |  | $ | 860.5
Aerospace |  | — |  | 164.6 |  | — |  | 5.7 |  | 170.3
Heavy equipment |  | 28.2 |  | — |  | — |  | 69.5 |  | 97.7
Transportation |  | — |  | — |  | 36.4 |  | 8.4 |  | 44.8
Medical |  | — |  | 37.6 |  | — |  | — |  | 37.6
General industrial and other |  | 26.3 |  | 43.2 |  | 30.9 |  | 3.5 |  | 103.9
Total revenues |  | $ | 915.0 |  | $ | 245.4 |  | $ | 67.3 |  | $ | 87.1 |  | $ | 1,314.8
|  | Three Months Ended June 30, 2018 |  |  |  |  |  |  |  |
(in millions) |  | CCM |  | CIT |  | CFT |  | CBF |  | Total
General construction |  | $ | 768.1 |  | $ | — |  | $ | — |  | $ | — |  | $ | 768.1
Aerospace |  | — |  | 150.8 |  | — |  | 3.5 |  | 154.3
Heavy equipment |  | 31.6 |  | — |  | — |  | 79.3 |  | 110.9
Transportation |  | — |  | — |  | 39.9 |  | 11.5 |  | 51.4
Medical |  | — |  | 34.6 |  | — |  | — |  | 34.6
General industrial and other |  | 28.9 |  | 52.3 |  | 33.4 |  | 2.2 |  | 116.8
Total revenues |  | $ | 828.6 |  | $ | 237.7 |  | $ | 73.3 |  | $ | 96.5 |  | $ | 1,236.1
|  | Six Months Ended June 30, 2019 |  |  |  |  |  |  |  |
(in millions) |  | CCM |  | CIT |  | CFT |  | CBF |  | Total
General construction |  | $ | 1,482.1 |  | $ | — |  | $ | — |  | $ | — |  | $ | 1,482.1
Aerospace |  | — |  | 338.4 |  | — |  | 10.3 |  | 348.7
Heavy equipment |  | 55.4 |  | — |  | — |  | 144.7 |  | 200.1
Transportation |  | — |  | — |  | 68.7 |  | 17.6 |  | 86.3
Medical |  | — |  | 68.6 |  | — |  | — |  | 68.6
General industrial and other |  | 48.6 |  | 84.8 |  | 61.7 |  | 5.8 |  | 200.9
Total revenues |  | $ | 1,586.1 |  | $ | 491.8 |  | $ | 130.4 |  | $ | 178.4 |  | $ | 2,386.7
|  | Six Months Ended June 30, 2018 |  |  |  |  |  |  |  |
(in millions) |  | CCM |  | CIT |  | CFT |  | CBF |  | Total
General construction |  | $ | 1,314.4 |  | $ | — |  | $ | — |  | $ | — |  | $ | 1,314.4
Aerospace |  | — |  | 305.6 |  | — |  | 9.8 |  | 315.4
Heavy equipment |  | 57.8 |  | — |  | — |  | 158.5 |  | 216.3
Transportation |  | — |  | — |  | 73.1 |  | 21.3 |  | 94.4
Medical |  | — |  | 69.3 |  | — |  | — |  | 69.3
General industrial and other |  | 55.0 |  | 87.1 |  | 63.7 |  | 5.2 |  | 211.0
Total revenues |  | $ | 1,427.2 |  | $ | 462.0 |  | $ | 136.8 |  | $ | 194.8 |  | $ | 2,220.8
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 June 30, 2019 |  |  |  |  |  |  |  |
(in millions) |  | CCM |  | CIT |  | CFT |  | CBF |  | Total
United States |  | $ | 824.6 |  | $ | 171.4 |  | $ | 31.7 |  | $ | 34.1 |  | $ | 1,061.8
International: |  |  |  |  |  |  |  |  |  |
Europe |  | 55.2 |  | 17.9 |  | 12.4 |  | 27.0 |  | 112.5
Asia |  | 5.6 |  | 33.8 |  | 21.3 |  | 18.3 |  | 79.0
Canada |  | 25.0 |  | 1.3 |  | 1.0 |  | 1.3 |  | 28.6
Mexico |  | 0.8 |  | 13.3 |  | 0.2 |  | 2.7 |  | 17.0
Middle East and Africa |  | 2.0 |  | 6.2 |  | 0.4 |  | 0.2 |  | 8.8
Other |  | 1.8 |  | 1.5 |  | 0.3 |  | 3.5 |  | 7.1
Total international |  | 90.4 |  | 74.0 |  | 35.6 |  | 53.0 |  | 253.0
Total revenues |  | $ | 915.0 |  | $ | 245.4 |  | $ | 67.3 |  | $ | 87.1 |  | $ | 1,314.8
|  | Three Months Ended June 30, 2018 |  |  |  |  |  |  |  |
(in millions) |  | CCM |  | CIT |  | CFT |  | CBF |  | Total
United States |  | $ | 733.6 |  | $ | 164.7 |  | $ | 30.7 |  | $ | 38.7 |  | $ | 967.7
International: |  |  |  |  |  |  |  |  |  |
Europe |  | 52.4 |  | 23.0 |  | 15.0 |  | 28.9 |  | 119.3
Asia |  | 3.6 |  | 25.6 |  | 24.6 |  | 20.6 |  | 74.4
Canada |  | 29.5 |  | 1.4 |  | 1.7 |  | 0.7 |  | 33.3
Mexico |  | 1.4 |  | 12.4 |  | 0.5 |  | 3.9 |  | 18.2
Middle East and Africa |  | 5.8 |  | 6.7 |  | 0.8 |  | 0.3 |  | 13.6
Other |  | 2.3 |  | 3.9 |  | — |  | 3.4 |  | 9.6
Total international |  | 95.0 |  | 73.0 |  | 42.6 |  | 57.8 |  | 268.4
Total revenues |  | $ | 828.6 |  | $ | 237.7 |  | $ | 73.3 |  | $ | 96.5 |  | $ | 1,236.1
|  | Six Months Ended June 30, 2019 |  |  |  |  |  |  |  |
(in millions) |  | CCM |  | CIT |  | CFT |  | CBF |  | Total
United States |  | $ | 1,415.8 |  | $ | 353.5 |  | $ | 59.7 |  | $ | 66.6 |  | $ | 1,895.6
International: |  |  |  |  |  |  |  |  |  |
Europe |  | 107.3 |  | 36.3 |  | 25.5 |  | 57.5 |  | 226.6
Asia |  | 9.7 |  | 57.6 |  | 40.3 |  | 38.7 |  | 146.3
Canada |  | 42.5 |  | 2.4 |  | 2.6 |  | 1.8 |  | 49.3
Mexico |  | 1.2 |  | 25.7 |  | 0.7 |  | 6.0 |  | 33.6
Middle East and Africa |  | 5.4 |  | 13.5 |  | 1.0 |  | 0.6 |  | 20.5
Other |  | 4.2 |  | 2.8 |  | 0.6 |  | 7.2 |  | 14.8
Total international |  | 170.3 |  | 138.3 |  | 70.7 |  | 111.8 |  | 491.1
Total revenues |  | $ | 1,586.1 |  | $ | 491.8 |  | $ | 130.4 |  | $ | 178.4 |  | $ | 2,386.7
|  | Six Months Ended June 30, 2018 |  |  |  |  |  |  |  |
(in millions) |  | CCM |  | CIT |  | CFT |  | CBF |  | Total
United States |  | $ | 1,262.6 |  | $ | 320.3 |  | $ | 56.3 |  | $ | 80.2 |  | $ | 1,719.4
International: |  |  |  |  |  |  |  |  |  |
Europe |  | 91.8 |  | 45.3 |  | 28.3 |  | 59.2 |  | 224.6
Asia |  | 8.8 |  | 48.5 |  | 44.4 |  | 39.5 |  | 141.2
Canada |  | 47.9 |  | 2.5 |  | 3.3 |  | 1.4 |  | 55.1
Mexico |  | 2.3 |  | 24.4 |  | 2.6 |  | 7.5 |  | 36.8
Middle East and Africa |  | 8.9 |  | 14.3 |  | 1.4 |  | 0.5 |  | 25.1
Other |  | 4.9 |  | 6.7 |  | 0.5 |  | 6.5 |  | 18.6
Total international |  | 164.6 |  | 141.7 |  | 80.5 |  | 114.6 |  | 501.4
Total revenues |  | $ | 1,427.2 |  | $ | 462.0 |  | $ | 136.8 |  | $ | 194.8 |  | $ | 2,220.8

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