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v3.21.2

Revenue Recognition (Tables) | 9 Months Ended
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Sep. 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 September 30, 2021, follows:
(in millions) |  | Remainder of 2021 |  | 2022 |  | 2023 |  | 2024 |  | 2025 |  | 2026 |  | Thereafter
Extended service warranties |  | $ | 6.1 |  |  | $ | 23.3 |  |  | $ | 22.1 |  |  | $ | 21.0 |  |  | $ | 20.1 |  |  | $ | 19.1 |  |  | $ | 158.1 |
Change in Contract Liabilities | A summary of the change in contract liabilities for the nine months ended September 30, follows:
(in millions) |  | 2021 |  | 2020
Balance as of January 1 |  | $ | 268.3 |  |  | $ | 247.4 |
Revenue recognized |  | (48.7) |  |  | (47.4) |
Revenue deferred |  | 59.9 |  |  | 63.5 |
Acquired liabilities |  | 2.6 |  |  | — |
Balance as of September 30 |  | $ | 282.1 |  |  | $ | 263.5 |
Schedule of Change in Contract Assets | A summary of the change in contract assets for the nine months ended September 30, follows:
(in millions) |  | 2021 |  | 2020 |  |
Balance as of January 1 |  | $ | 84.5 |  |  | $ | 100.5 |  |  |
Balance as of September 30 |  | 73.5 |  |  | 97.4 |  |  |
Change in contract assets |  | $ | (11.0) |  |  | $ | (3.1) |  |  |
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, 2021
(in millions) |  | CCM |  | CIT |  | CFT |  | Total
General construction |  | $ | 1,001.1 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,001.1 |
Aerospace |  | — |  |  | 78.0 |  |  | — |  |  | 78.0 |
Heavy equipment |  | 29.8 |  |  | — |  |  | — |  |  | 29.8 |
Medical |  | — |  |  | 66.6 |  |  | — |  |  | 66.6 |
Transportation |  | — |  |  | — |  |  | 37.9 |  |  | 37.9 |
General industrial and other |  | 34.9 |  |  | 34.1 |  |  | 33.2 |  |  | 102.2 |
Total revenues |  | $ | 1,065.8 |  |  | $ | 178.7 |  |  | $ | 71.1 |  |  | $ | 1,315.6 |
|  | Three Months Ended September 30, 2020
(in millions) |  | CCM |  | CIT |  | CFT |  | Total
General construction |  | $ | 784.8 |  |  | $ | — |  |  | $ | — |  |  | $ | 784.8 |
Aerospace |  | — |  |  | 65.3 |  |  | — |  |  | 65.3 |
Heavy equipment |  | 16.4 |  |  | — |  |  | — |  |  | 16.4 |
Medical |  | — |  |  | 59.2 |  |  | — |  |  | 59.2 |
Transportation |  | — |  |  | — |  |  | 33.3 |  |  | 33.3 |
General industrial and other |  | 22.3 |  |  | 44.0 |  |  | 31.7 |  |  | 98.0 |
Total revenues |  | $ | 823.5 |  |  | $ | 168.5 |  |  | $ | 65.0 |  |  | $ | 1,057.0 |
|  | Nine Months Ended September 30, 2021
(in millions) |  | CCM |  | CIT |  | CFT |  | Total
General construction |  | $ | 2,557.1 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,557.1 |
Aerospace |  | — |  |  | 217.9 |  |  | — |  |  | 217.9 |
Heavy equipment |  | 73.0 |  |  | — |  |  | — |  |  | 73.0 |
Medical |  | — |  |  | 180.9 |  |  | — |  |  | 180.9 |
Transportation |  | — |  |  | — |  |  | 107.6 |  |  | 107.6 |
General industrial and other |  | 92.3 |  |  | 104.6 |  |  | 100.9 |  |  | 297.8 |
Total revenues |  | $ | 2,722.4 |  |  | $ | 503.4 |  |  | $ | 208.5 |  |  | $ | 3,434.3 |
|  | Nine Months Ended September 30, 2020
(in millions) |  | CCM |  | CIT |  | CFT |  | Total
General construction |  | $ | 2,119.8 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,119.8 |
Aerospace |  | — |  |  | 282.8 |  |  | — |  |  | 282.8 |
Heavy equipment |  | 51.9 |  |  | — |  |  | — |  |  | 51.9 |
Medical |  | — |  |  | 170.2 |  |  | — |  |  | 170.2 |
Transportation |  | — |  |  | — |  |  | 91.8 |  |  | 91.8 |
General industrial and other |  | 63.1 |  |  | 124.0 |  |  | 78.0 |  |  | 265.1 |
Total revenues |  | $ | 2,234.8 |  |  | $ | 577.0 |  |  | $ | 169.8 |  |  | $ | 2,981.6 |
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 September 30, 2021
(in millions) |  | CCM |  | CIT |  | CFT |  | Total
United States |  | $ | 955.3 |  |  | $ | 134.7 |  |  | $ | 31.2 |  |  | $ | 1,121.2 |
International: |  |  |  |  |  |  |  |
Europe |  | 64.2 |  |  | 15.8 |  |  | 14.3 |  |  | 94.3 |
Asia |  | 2.6 |  |  | 17.6 |  |  | 22.2 |  |  | 42.4 |
North America (excluding U.S.) |  | 38.2 |  |  | 3.5 |  |  | 2.8 |  |  | 44.5 |
Middle East and Africa |  | 3.9 |  |  | 2.4 |  |  | 0.4 |  |  | 6.7 |
Other |  | 1.6 |  |  | 4.7 |  |  | 0.2 |  |  | 6.5 |
Total international |  | 110.5 |  |  | 44.0 |  |  | 39.9 |  |  | 194.4 |
Total revenues |  | $ | 1,065.8 |  |  | $ | 178.7 |  |  | $ | 71.1 |  |  | $ | 1,315.6 |
|  | Three Months Ended September 30, 2020
(in millions) |  | CCM |  | CIT |  | CFT |  | Total
United States |  | $ | 734.5 |  |  | $ | 118.2 |  |  | $ | 27.3 |  |  | $ | 880.0 |
International: |  |  |  |  |  |  |  |
Europe |  | 56.2 |  |  | 15.0 |  |  | 15.8 |  |  | 87.0 |
Asia |  | 4.1 |  |  | 18.2 |  |  | 18.2 |  |  | 40.5 |
North America (excluding U.S.) |  | 24.5 |  |  | 8.0 |  |  | 3.0 |  |  | 35.5 |
Middle East and Africa |  | 3.0 |  |  | 3.0 |  |  | 0.6 |  |  | 6.6 |
Other |  | 1.2 |  |  | 6.1 |  |  | 0.1 |  |  | 7.4 |
Total international |  | 89.0 |  |  | 50.3 |  |  | 37.7 |  |  | 177.0 |
Total revenues |  | $ | 823.5 |  |  | $ | 168.5 |  |  | $ | 65.0 |  |  | $ | 1,057.0 |
|  | Nine Months Ended September 30, 2021
(in millions) |  | CCM |  | CIT |  | CFT |  | Total
United States |  | $ | 2,413.1 |  |  | $ | 373.0 |  |  | $ | 93.2 |  |  | $ | 2,879.3 |
International: |  |  |  |  |  |  |  |
Europe |  | 188.9 |  |  | 46.5 |  |  | 40.4 |  |  | 275.8 |
Asia |  | 12.7 |  |  | 57.1 |  |  | 63.5 |  |  | 133.3 |
North America (excluding U.S.) |  | 93.0 |  |  | 10.5 |  |  | 8.1 |  |  | 111.6 |
Middle East and Africa |  | 11.5 |  |  | 7.4 |  |  | 1.2 |  |  | 20.1 |
Other |  | 3.2 |  |  | 8.9 |  |  | 2.1 |  |  | 14.2 |
Total international |  | 309.3 |  |  | 130.4 |  |  | 115.3 |  |  | 555.0 |
Total revenues |  | $ | 2,722.4 |  |  | $ | 503.4 |  |  | $ | 208.5 |  |  | $ | 3,434.3 |
|  | Nine Months Ended September 30, 2020
(in millions) |  | CCM |  | CIT |  | CFT |  | Total
United States |  | $ | 1,988.6 |  |  | $ | 408.9 |  |  | $ | 76.3 |  |  | $ | 2,473.8 |
International: |  |  |  |  |  |  |  |
Europe |  | 158.6 |  |  | 55.0 |  |  | 32.6 |  |  | 246.2 |
Asia |  | 12.2 |  |  | 55.2 |  |  | 52.5 |  |  | 119.9 |
North America (excluding U.S.) |  | 62.3 |  |  | 26.5 |  |  | 6.6 |  |  | 95.4 |
Middle East and Africa |  | 9.3 |  |  | 10.3 |  |  | 1.3 |  |  | 20.9 |
Other |  | 3.8 |  |  | 21.1 |  |  | 0.5 |  |  | 25.4 |
Total international |  | 246.2 |  |  | 168.1 |  |  | 93.5 |  |  | 507.8 |
Total revenues |  | $ | 2,234.8 |  |  | $ | 577.0 |  |  | $ | 169.8 |  |  | $ | 2,981.6 |

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