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v3.20.2

Revenue Recognition (Tables) | 6 Months Ended
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Jun. 30, 2020
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, 2020, follows:
(in millions) |  | Remainder of 2020 |  | 2021 |  | 2022 |  | 2023 |  | 2024 |  | 2025 |  | Thereafter
Extended service warranties |  | $ | 11.4 |  |  | $ | 21.8 |  |  | $ | 20.6 |  |  | $ | 19.4 |  |  | $ | 18.3 |  |  | $ | 17.4 |  |  | $ | 140.0 |
Change in Contract Liabilities | A summary of the change in contract liabilities for the six months ended June 30, follows:
(in millions) |  | 2020 |  | 2019
Balance as of January 1 |  | $ | 247.4 |  |  | $ | 227.4 |
Revenue recognized |  | (28.8) |  |  | (30.2) |
Revenue deferred |  | 40.2 |  |  | 35.3 |
Acquired liabilities |  | — |  |  | 2.7 |
Balance as of June 30 |  | $ | 258.8 |  |  | $ | 235.2 |
Schedule of Change in Contract Assets | A summary of the change in contract assets for the six months ended June 30, follows:
(in millions) |  | 2020 |  | 2019 |  |
Balance as of January 1 |  | $ | 100.5 |  |  | $ | 44.7 |  |  |
Balance as of June 30 |  | 101.9 |  |  | 58.1 |  |  |
Change in contract assets |  | $ | 1.4 |  |  | $ | 13.4 |  |  |
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, 2020 |  |  |  |  |  |  |  |
(in millions) |  | CCM |  | CIT |  | CFT |  | CBF |  | Total
General construction |  | $ | 699.2 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 699.2 |
Aerospace |  | — |  |  | 80.8 |  |  | — |  |  | 2.9 |  |  | 83.7 |
Heavy equipment |  | 14.0 |  |  | — |  |  | — |  |  | 48.5 |  |  | 62.5 |
Transportation |  | — |  |  | — |  |  | 23.2 |  |  | 5.2 |  |  | 28.4 |
Medical |  | — |  |  | 62.8 |  |  | — |  |  | — |  |  | 62.8 |
General industrial and other |  | 21.7 |  |  | 40.4 |  |  | 23.3 |  |  | 2.2 |  |  | 87.6 |
Total revenues |  | $ | 734.9 |  |  | $ | 184.0 |  |  | $ | 46.5 |  |  | $ | 58.8 |  |  | $ | 1,024.2 |
|  | 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 |
|  | Six Months Ended June 30, 2020 |  |  |  |  |  |  |  |
(in millions) |  | CCM |  | CIT |  | CFT |  | CBF |  | Total
General construction |  | $ | 1,335.0 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 1,335.0 |
Aerospace |  | — |  |  | 217.5 |  |  | — |  |  | 8.8 |  |  | 226.3 |
Heavy equipment |  | 35.5 |  |  | — |  |  | — |  |  | 102.6 |  |  | 138.1 |
Transportation |  | — |  |  | — |  |  | 58.5 |  |  | 13.4 |  |  | 71.9 |
Medical |  | — |  |  | 111.0 |  |  | — |  |  | — |  |  | 111.0 |
General industrial and other |  | 40.8 |  |  | 80.0 |  |  | 46.3 |  |  | 5.0 |  |  | 172.1 |
Total revenues |  | $ | 1,411.3 |  |  | $ | 408.5 |  |  | $ | 104.8 |  |  | $ | 129.8 |  |  | $ | 2,054.4 |
|  | 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 |
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, 2020 |  |  |  |  |  |  |  |
(in millions) |  | CCM |  | CIT |  | CFT |  | CBF |  | Total
United States |  | $ | 657.2 |  |  | $ | 129.3 |  |  | $ | 20.7 |  |  | $ | 22.2 |  |  | $ | 829.4 |
International: |  |  |  |  |  |  |  |  |  |
Europe |  | 51.3 |  |  | 20.7 |  |  | 6.4 |  |  | 16.9 |  |  | 95.3 |
Asia |  | 4.8 |  |  | 18.6 |  |  | 17.4 |  |  | 14.6 |  |  | 55.4 |
Canada |  | 17.4 |  |  | 0.7 |  |  | 0.8 |  |  | 1.1 |  |  | 20.0 |
Mexico and Latin America |  | 0.8 |  |  | 5.4 |  |  | 0.8 |  |  | 1.5 |  |  | 8.5 |
Middle East and Africa |  | 2.4 |  |  | 2.4 |  |  | 0.2 |  |  | 0.2 |  |  | 5.2 |
Other |  | 1.0 |  |  | 6.9 |  |  | 0.2 |  |  | 2.3 |  |  | 10.4 |
Total international |  | 77.7 |  |  | 54.7 |  |  | 25.8 |  |  | 36.6 |  |  | 194.8 |
Total revenues |  | $ | 734.9 |  |  | $ | 184.0 |  |  | $ | 46.5 |  |  | $ | 58.8 |  |  | $ | 1,024.2 |
|  | 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 and Latin America |  | 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 |
|  | Six Months Ended June 30, 2020 |  |  |  |  |  |  |  |
(in millions) |  | CCM |  | CIT |  | CFT |  | CBF |  | Total
United States |  | $ | 1,254.1 |  |  | $ | 290.7 |  |  | $ | 49.0 |  |  | $ | 52.9 |  |  | $ | 1,646.7 |
International: |  |  |  |  |  |  |  |  |  |
Europe |  | 102.4 |  |  | 40.0 |  |  | 16.8 |  |  | 36.3 |  |  | 195.5 |
Asia |  | 8.1 |  |  | 37.0 |  |  | 34.3 |  |  | 29.7 |  |  | 109.1 |
Canada |  | 35.8 |  |  | 1.9 |  |  | 2.2 |  |  | 1.7 |  |  | 41.6 |
Mexico |  | 2.0 |  |  | 16.6 |  |  | 1.4 |  |  | 3.8 |  |  | 23.8 |
Middle East and Africa |  | 6.3 |  |  | 7.3 |  |  | 0.7 |  |  | 0.4 |  |  | 14.7 |
Other |  | 2.6 |  |  | 15.0 |  |  | 0.4 |  |  | 5.0 |  |  | 23.0 |
Total international |  | 157.2 |  |  | 117.8 |  |  | 55.8 |  |  | 76.9 |  |  | 407.7 |
Total revenues |  | $ | 1,411.3 |  |  | $ | 408.5 |  |  | $ | 104.8 |  |  | $ | 129.8 |  |  | $ | 2,054.4 |
|  | 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 |

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