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v3.21.2

Revenue Recognition (Tables) | 3 Months Ended
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Mar. 31, 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 March 31, 2021, follows:
(in millions) |  | Remainder of 2021 |  | 2022 |  | 2023 |  | 2024 |  | 2025 |  | 2026 |  | Thereafter
Extended service warranties |  | $ | 17.5 |  |  | $ | 22.1 |  |  | $ | 20.9 |  |  | $ | 19.9 |  |  | $ | 19.0 |  |  | $ | 18.0 |  |  | $ | 143.5 |
Change in Contract Liabilities | A summary of the change in contract liabilities for the three months ended March 31, follows:
(in millions) |  | 2021 |  | 2020
Balance as of January 1 |  | $ | 268.3 |  |  | $ | 247.4 |
Revenue recognized |  | (15.2) |  |  | (13.3) |
Revenue deferred |  | 17.9 |  |  | 20.1 |
Balance as of March 31 |  | $ | 271.0 |  |  | $ | 254.2 |
Schedule of Change in Contract Assets | A summary of the change in contract assets for the three months ended March 31, follows:
(in millions) |  | 2021 |  | 2020 |  |
Balance as of January 1 |  | $ | 84.5 |  |  | $ | 100.5 |  |  |
Balance as of March 31 |  | 77.1 |  |  | 103.6 |  |  |
Change in contract assets |  | $ | (7.4) |  |  | $ | 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 March 31, 2021
(in millions) |  | CCM |  | CIT |  | CFT |  | Total
General construction |  | $ | 674.1 |  |  | $ | — |  |  | $ | — |  |  | $ | 674.1 |
Aerospace |  | — |  |  | 65.9 |  |  | — |  |  | 65.9 |
Medical |  | — |  |  | 55.2 |  |  | — |  |  | 55.2 |
Transportation |  | — |  |  | — |  |  | 33.8 |  |  | 33.8 |
Heavy equipment |  | 20.3 |  |  | — |  |  | — |  |  | 20.3 |
General industrial and other |  | 24.9 |  |  | 34.7 |  |  | 32.0 |  |  | 91.6 |
Total revenues |  | $ | 719.3 |  |  | $ | 155.8 |  |  | $ | 65.8 |  |  | $ | 940.9 |
|  | Three Months Ended March 31, 2020
(in millions) |  | CCM |  | CIT |  | CFT |  | Total
General construction |  | $ | 635.8 |  |  | $ | — |  |  | $ | — |  |  | $ | 635.8 |
Aerospace |  | — |  |  | 136.7 |  |  | — |  |  | 136.7 |
Medical |  | — |  |  | 48.2 |  |  | — |  |  | 48.2 |
Transportation |  | — |  |  | — |  |  | 35.3 |  |  | 35.3 |
Heavy equipment |  | 21.5 |  |  | — |  |  | — |  |  | 21.5 |
General industrial and other |  | 19.1 |  |  | 39.6 |  |  | 23.0 |  |  | 81.7 |
Total revenues |  | $ | 676.4 |  |  | $ | 224.5 |  |  | $ | 58.3 |  |  | $ | 959.2 |
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 March 31, 2021
(in millions) |  | CCM |  | CIT |  | CFT |  | Total
United States |  | $ | 626.3 |  |  | $ | 111.5 |  |  | $ | 30.6 |  |  | $ | 768.4 |
International: |  |  |  |  |  |  |  |
Europe |  | 60.6 |  |  | 14.4 |  |  | 12.5 |  |  | 87.5 |
Asia |  | 3.9 |  |  | 20.6 |  |  | 19.2 |  |  | 43.7 |
North America (excluding U.S.) |  | 23.6 |  |  | 4.5 |  |  | 2.5 |  |  | 30.6 |
Middle East and Africa |  | 3.4 |  |  | 2.6 |  |  | 0.4 |  |  | 6.4 |
Other |  | 1.5 |  |  | 2.2 |  |  | 0.6 |  |  | 4.3 |
Total international |  | 93.0 |  |  | 44.3 |  |  | 35.2 |  |  | 172.5 |
Total revenues |  | $ | 719.3 |  |  | $ | 155.8 |  |  | $ | 65.8 |  |  | $ | 940.9 |
|  | Three Months Ended March 31, 2020
(in millions) |  | CCM |  | CIT |  | CFT |  | Total
United States |  | $ | 596.9 |  |  | $ | 161.4 |  |  | $ | 28.3 |  |  | $ | 786.6 |
International: |  |  |  |  |  |  |  |
Europe |  | 51.1 |  |  | 19.3 |  |  | 10.4 |  |  | 80.8 |
Asia |  | 3.3 |  |  | 18.4 |  |  | 16.9 |  |  | 38.6 |
North America (excluding U.S.) |  | 19.6 |  |  | 12.4 |  |  | 2.0 |  |  | 34.0 |
Middle East and Africa |  | 3.9 |  |  | 4.9 |  |  | 0.5 |  |  | 9.3 |
Other |  | 1.6 |  |  | 8.1 |  |  | 0.2 |  |  | 9.9 |
Total international |  | 79.5 |  |  | 63.1 |  |  | 30.0 |  |  | 172.6 |
Total revenues |  | $ | 676.4 |  |  | $ | 224.5 |  |  | $ | 58.3 |  |  | $ | 959.2 |

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