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Revenue Recognition (Tables)

9 Months Ended

Sep. 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 September 30, 2019, follows:

(in millions)						Remainder of 2019						2020						2021						2022						2023						2024						Thereafter
Extended service warranties						$	5.5					$	21.2					$	20.2					$	19.0					$	17.8					$	16.8					$	135.2

Change in Contract Liabilities

A summary of the change in contract liabilities for the nine months ended September 30, follows:

(in millions)						2019						2018
Balance as of January 1						$	227.4					$	215.8
Revenue recognized						(48.6)						(53.7)
Revenue deferred						61.5						64.9
Acquired liabilities						1.1						0.3
Balance as of September 30						$	241.4					$	227.3

Schedule of Change in Contract Assets

A summary of the change in contract assets for the nine months ended September 30, follows:

(in millions)						2019						2018
Balance as of January 1						$	44.7					$	—
Adoption of ASC 606						—						22.8
Revenue recognized and unbilled						179.6						118.6
Revenue billed						(161.0)						(92.3)
Balance as of September 30						$	63.3					$	49.1

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 September 30, 2019
(in millions)						CCM						CIT						CFT						CBF						Total
General construction						$	840.5					$	—					$	—					$	—					$	840.5
Aerospace						—						157.8						—						5.8						163.6
Heavy equipment						25.6						—						—						59.3						84.9
Transportation						—						—						39.6						8.4						48.0
Medical						—						41.6						—						—						41.6
General industrial and other						27.4						42.5						28.9						3.2						102.0
Total revenues						$	893.5					$	241.9					$	68.5					$	76.7					$	1,280.6
						Three Months Ended September 30, 2018
(in millions)						CCM						CIT						CFT						CBF						Total
General construction						$	716.0					$	—					$	—					$	—					$	716.0
Aerospace						—						160.3						—						5.8						166.1
Heavy equipment						29.8						—						—						74.4						104.2
Transportation						—						—						36.6						9.7						46.3
Medical						—						39.1						—						—						39.1
General industrial and other						31.0						40.8						35.8						2.1						109.7
Total revenues						$	776.8					$	240.2					$	72.4					$	92.0					$	1,181.4

						Nine Months Ended September 30, 2019
(in millions)						CCM						CIT						CFT						CBF						Total
General construction						$	2,322.6					$	—					$	—					$	—					$	2,322.6
Aerospace						—						496.2						—						16.1						512.3
Heavy equipment						81.0						—						—						204.0						285.0
Transportation						—						—						108.3						26.0						134.3
Medical						—						110.2						—						—						110.2
General industrial and other						76.0						127.3						90.6						9.0						302.9
Total revenues						$	2,479.6					$	733.7					$	198.9					$	255.1					$	3,667.3
						Nine Months Ended September 30, 2018
(in millions)						CCM						CIT						CFT						CBF						Total
General construction						$	2,030.4					$	—					$	—					$	—					$	2,030.4
Aerospace						—						465.9						—						15.6						481.5
Heavy equipment						87.6						—						—						232.9						320.5
Transportation						—						—						109.7						31.0						140.7
Medical						—						108.4						—						—						108.4
General industrial and other						86.0						127.9						99.5						7.3						320.7
Total revenues						$	2,204.0					$	702.2					$	209.2					$	286.8					$	3,402.2

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 September 30, 2019
(in millions)						CCM						CIT						CFT						CBF						Total
United States						$	798.4					$	172.7					$	31.2					$	30.9					$	1,033.2
International:
Europe						53.3						17.1						11.9						21.2						103.5
Asia						5.8						25.6						22.1						17.3						70.8
Canada						28.1						1.7						2.2						1.0						33.0
Mexico						0.5						13.1						0.5						2.6						16.7
Middle East and Africa						5.0						4.5						0.5						0.5						10.5
Other						2.4						7.2						0.1						3.2						12.9
Total international						95.1						69.2						37.3						45.8						247.4
Total revenues						$	893.5					$	241.9					$	68.5					$	76.7					$	1,280.6
						Three Months Ended September 30, 2018
(in millions)						CCM						CIT						CFT						CBF						Total
United States						$	687.2					$	171.6					$	29.2					$	41.1					$	929.1
International:
Europe						52.2						20.5						14.2						24.4						111.3
Asia						3.8						24.8						24.0						18.9						71.5
Canada						27.7						1.4						1.9						0.8						31.8
Mexico						1.0						12.1						2.3						3.3						18.7
Middle East and Africa						3.3						6.8						0.4						0.5						11.0
Other						1.6						3.0						0.4						3.0						8.0
Total international						89.6						68.6						43.2						50.9						252.3
Total revenues						$	776.8					$	240.2					$	72.4					$	92.0					$	1,181.4

						Nine Months Ended September 30, 2019
(in millions)						CCM						CIT						CFT						CBF						Total
United States						$	2,214.2					$	526.2					$	90.9					$	97.5					$	2,928.8
International:
Europe						160.6						53.4						37.4						78.7						330.1
Asia						15.5						83.2						62.4						56.0						217.1
Canada						70.6						4.1						4.8						2.8						82.3
Mexico						1.7						38.8						1.2						8.6						50.3
Middle East and Africa						10.4						18.0						1.5						1.1						31.0
Other						6.6						10.0						0.7						10.4						27.7
Total international						265.4						207.5						108.0						157.6						738.5
Total revenues						$	2,479.6					$	733.7					$	198.9					$	255.1					$	3,667.3
						Nine Months Ended September 30, 2018
(in millions)						CCM						CIT						CFT						CBF						Total
United States						$	1,949.8					$	491.9					$	85.5					$	121.3					$	2,648.5
International:
Europe						144.0						65.8						42.5						83.6						335.9
Asia						12.6						73.3						68.4						58.4						212.7
Canada						75.6						3.9						5.2						2.2						86.9
Mexico						3.3						36.5						4.9						10.8						55.5
Middle East and Africa						12.2						21.1						1.8						1.0						36.1
Other						6.5						9.7						0.9						9.5						26.6
Total international						254.2						210.3						123.7						165.5						753.7
Total revenues						$	2,204.0					$	702.2					$	209.2					$	286.8					$	3,402.2

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Tabular disclosure of contract balances and changes in contract balances.

+ 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=118956577&loc=SL49130551-203045

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Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=118956577&loc=SL49130545-203045

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Tabular disclosure of expected timing for satisfying remaining performance obligation.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(1)
-URI http://asc.fasb.org/extlink&oid=118956577&loc=SL49130556-203045

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