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v3.21.2

Revenue Recognition (Tables) | 6 Months Ended
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Jun. 30, 2021
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, 2021, follows:
(in millions) |  | Remainder of 2021 |  | 2022 |  | 2023 |  | 2024 |  | 2025 |  | 2026 |  | Thereafter
Extended service warranties |  | $ | 11.8 |  |  | $ | 22.6 |  |  | $ | 21.4 |  |  | $ | 20.3 |  |  | $ | 19.4 |  |  | $ | 18.4 |  |  | $ | 149.4 |
Change in Contract Liabilities | A summary of the change in contract liabilities for the six months ended June 30, follows:
(in millions) |  | 2021 |  | 2020
Balance as of January 1 |  | $ | 268.3 |  |  | $ | 247.4 |
Revenue recognized |  | (32.0) |  |  | (28.8) |
Revenue deferred |  | 38.7 |  |  | 40.2 |
Balance as of June 30 |  | $ | 275.0 |  |  | $ | 258.8 |
Schedule of Change in Contract Assets | A summary of the change in contract assets for the six months ended June 30, follows:
(in millions) |  | 2021 |  | 2020 |  |
Balance as of January 1 |  | $ | 84.5 |  |  | $ | 100.5 |  |  |
Balance as of June 30 |  | 71.5 |  |  | 101.9 |  |  |
Change in contract assets |  | $ | (13.0) |  |  | $ | 1.4 |  |  |
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, 2021
(in millions) |  | CCM |  | CIT |  | CFT |  | Total
General construction |  | $ | 881.9 |  |  | $ | — |  |  | $ | — |  |  | $ | 881.9 |
Aerospace |  | — |  |  | 74.0 |  |  | — |  |  | 74.0 |
Heavy equipment |  | 22.9 |  |  | — |  |  | — |  |  | 22.9 |
Medical |  | — |  |  | 59.1 |  |  | — |  |  | 59.1 |
Transportation |  | — |  |  | — |  |  | 35.9 |  |  | 35.9 |
General industrial and other |  | 32.5 |  |  | 35.8 |  |  | 35.7 |  |  | 104.0 |
Total revenues |  | $ | 937.3 |  |  | $ | 168.9 |  |  | $ | 71.6 |  |  | $ | 1,177.8 |
|  | Three Months Ended June 30, 2020
(in millions) |  | CCM |  | CIT |  | CFT |  | Total
General construction |  | $ | 699.2 |  |  | $ | — |  |  | $ | — |  |  | $ | 699.2 |
Aerospace |  | — |  |  | 80.8 |  |  | — |  |  | 80.8 |
Heavy equipment |  | 14.0 |  |  | — |  |  | — |  |  | 14.0 |
Medical |  | — |  |  | 62.8 |  |  | — |  |  | 62.8 |
Transportation |  | — |  |  | — |  |  | 23.2 |  |  | 23.2 |
General industrial and other |  | 21.7 |  |  | 40.4 |  |  | 23.3 |  |  | 85.4 |
Total revenues |  | $ | 734.9 |  |  | $ | 184.0 |  |  | $ | 46.5 |  |  | $ | 965.4 |
|  | Six Months Ended June 30, 2021
(in millions) |  | CCM |  | CIT |  | CFT |  | Total
General construction |  | $ | 1,556.0 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,556.0 |
Aerospace |  | — |  |  | 139.9 |  |  | — |  |  | 139.9 |
Heavy equipment |  | 43.2 |  |  | — |  |  | — |  |  | 43.2 |
Medical |  | — |  |  | 114.3 |  |  | — |  |  | 114.3 |
Transportation |  | — |  |  | — |  |  | 69.7 |  |  | 69.7 |
General industrial and other |  | 57.4 |  |  | 70.5 |  |  | 67.7 |  |  | 195.6 |
Total revenues |  | $ | 1,656.6 |  |  | $ | 324.7 |  |  | $ | 137.4 |  |  | $ | 2,118.7 |
|  | Six Months Ended June 30, 2020
(in millions) |  | CCM |  | CIT |  | CFT |  | Total
General construction |  | $ | 1,335.0 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,335.0 |
Aerospace |  | — |  |  | 217.5 |  |  | — |  |  | 217.5 |
Heavy equipment |  | 35.5 |  |  | — |  |  | — |  |  | 35.5 |
Medical |  | — |  |  | 111.0 |  |  | — |  |  | 111.0 |
Transportation |  | — |  |  | — |  |  | 58.5 |  |  | 58.5 |
General industrial and other |  | 40.8 |  |  | 80.0 |  |  | 46.3 |  |  | 167.1 |
Total revenues |  | $ | 1,411.3 |  |  | $ | 408.5 |  |  | $ | 104.8 |  |  | $ | 1,924.6 |
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, 2021
(in millions) |  | CCM |  | CIT |  | CFT |  | Total
United States |  | $ | 831.5 |  |  | $ | 126.8 |  |  | $ | 31.4 |  |  | $ | 989.7 |
International: |  |  |  |  |  |  |  |
Europe |  | 64.1 |  |  | 16.3 |  |  | 13.6 |  |  | 94.0 |
Asia |  | 6.2 |  |  | 18.9 |  |  | 22.1 |  |  | 47.2 |
North America (excluding U.S.) |  | 31.2 |  |  | 2.5 |  |  | 2.8 |  |  | 36.5 |
Middle East and Africa |  | 4.2 |  |  | 2.4 |  |  | 0.4 |  |  | 7.0 |
Other |  | 0.1 |  |  | 2.0 |  |  | 1.3 |  |  | 3.4 |
Total international |  | 105.8 |  |  | 42.1 |  |  | 40.2 |  |  | 188.1 |
Total revenues |  | $ | 937.3 |  |  | $ | 168.9 |  |  | $ | 71.6 |  |  | $ | 1,177.8 |
|  | Three Months Ended June 30, 2020
(in millions) |  | CCM |  | CIT |  | CFT |  | Total
United States |  | $ | 657.2 |  |  | $ | 129.3 |  |  | $ | 20.7 |  |  | $ | 807.2 |
International: |  |  |  |  |  |  |  |
Europe |  | 51.3 |  |  | 20.7 |  |  | 6.4 |  |  | 78.4 |
Asia |  | 4.8 |  |  | 18.6 |  |  | 17.4 |  |  | 40.8 |
North America (excluding U.S.) |  | 18.2 |  |  | 6.1 |  |  | 1.6 |  |  | 25.9 |
Middle East and Africa |  | 2.4 |  |  | 2.4 |  |  | 0.2 |  |  | 5.0 |
Other |  | 1.0 |  |  | 6.9 |  |  | 0.2 |  |  | 8.1 |
Total international |  | 77.7 |  |  | 54.7 |  |  | 25.8 |  |  | 158.2 |
Total revenues |  | $ | 734.9 |  |  | $ | 184.0 |  |  | $ | 46.5 |  |  | $ | 965.4 |
|  | Six Months Ended June 30, 2021
(in millions) |  | CCM |  | CIT |  | CFT |  | Total
United States |  | $ | 1,457.8 |  |  | $ | 238.3 |  |  | $ | 62.0 |  |  | $ | 1,758.1 |
International: |  |  |  |  |  |  |  |
Europe |  | 124.7 |  |  | 30.7 |  |  | 26.1 |  |  | 181.5 |
Asia |  | 10.1 |  |  | 39.5 |  |  | 41.3 |  |  | 90.9 |
North America (excluding U.S.) |  | 54.8 |  |  | 7.0 |  |  | 5.3 |  |  | 67.1 |
Middle East and Africa |  | 7.6 |  |  | 5.0 |  |  | 0.8 |  |  | 13.4 |
Other |  | 1.6 |  |  | 4.2 |  |  | 1.9 |  |  | 7.7 |
Total international |  | 198.8 |  |  | 86.4 |  |  | 75.4 |  |  | 360.6 |
Total revenues |  | $ | 1,656.6 |  |  | $ | 324.7 |  |  | $ | 137.4 |  |  | $ | 2,118.7 |
|  | Six Months Ended June 30, 2020
(in millions) |  | CCM |  | CIT |  | CFT |  | Total
United States |  | $ | 1,254.1 |  |  | $ | 290.7 |  |  | $ | 49.0 |  |  | $ | 1,593.8 |
International: |  |  |  |  |  |  |  |
Europe |  | 102.4 |  |  | 40.0 |  |  | 16.8 |  |  | 159.2 |
Asia |  | 8.1 |  |  | 37.0 |  |  | 34.3 |  |  | 79.4 |
North America (excluding U.S.) |  | 37.8 |  |  | 18.5 |  |  | 3.6 |  |  | 59.9 |
Middle East and Africa |  | 6.3 |  |  | 7.3 |  |  | 0.7 |  |  | 14.3 |
Other |  | 2.6 |  |  | 15.0 |  |  | 0.4 |  |  | 18.0 |
Total international |  | 157.2 |  |  | 117.8 |  |  | 55.8 |  |  | 330.8 |
Total revenues |  | $ | 1,411.3 |  |  | $ | 408.5 |  |  | $ | 104.8 |  |  | $ | 1,924.6 |

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