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v3.22.1

Revenue Recognition (Tables) | 3 Months Ended
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Mar. 31, 2022
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, 2022, follows:
(in millions) |  | Remainder of 2022 |  | 2023 |  | 2024 |  | 2025 |  | 2026 |  | 2027 |  | Thereafter
Extended service warranties |  | $ | 18.2 |  |  | $ | 23.0 |  |  | $ | 21.9 |  |  | $ | 21.0 |  |  | $ | 20.0 |  |  | $ | 19.0 |  |  | $ | 152.1 |
Change in Contract Liabilities | A summary of the change in contract liabilities for the three months ended March 31, follows:
(in millions) |  | 2022 |  | 2021
Balance as of January 1 |  | $ | 283.9 |  |  | $ | 268.3 |
Revenue recognized |  | (20.0) |  |  | (15.2) |
Revenue deferred |  | 25.2 |  |  | 17.9 |
Balance as of March 31 |  | $ | 289.1 |  |  | $ | 271.0 |
Schedule of Change in Contract Assets | A summary of the change in contract assets for the three months ended March 31, follows:
(in millions) |  | 2022 |  | 2021 |  |
Balance as of January 1 |  | $ | 72.1 |  |  | $ | 84.5 |  |  |
Balance as of March 31 |  | 73.6 |  |  | 77.1 |  |  |
Change in contract assets |  | $ | 1.5 |  |  | $ | (7.4) |  |  |
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 March 31, 2022
(in millions) |  | CCM |  | CWT |  | CIT |  | CFT |  | Total
General construction |  | $ | 881.1 |  |  | $ | 298.3 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,179.4 |
Aerospace |  | — |  |  | — |  |  | 83.3 |  |  | — |  |  | 83.3 |
Medical |  | — |  |  | — |  |  | 64.6 |  |  | — |  |  | 64.6 |
Transportation |  | — |  |  | — |  |  | — |  |  | 38.4 |  |  | 38.4 |
Heavy equipment |  | — |  |  | 30.8 |  |  | — |  |  | — |  |  | 30.8 |
General industrial and other |  | — |  |  | 30.0 |  |  | 37.1 |  |  | 32.7 |  |  | 99.8 |
Total revenues |  | $ | 881.1 |  |  | $ | 359.1 |  |  | $ | 185.0 |  |  | $ | 71.1 |  |  | $ | 1,496.3 |
|  | Three Months Ended March 31, 2021
(in millions) |  | CCM |  | CWT |  | CIT |  | CFT |  | Total
General construction |  | $ | 556.4 |  |  | $ | 117.7 |  |  | $ | — |  |  | $ | — |  |  | $ | 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 |  | $ | 556.4 |  |  | $ | 162.9 |  |  | $ | 155.8 |  |  | $ | 65.8 |  |  | $ | 940.9 |
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, 2022
(in millions) |  | CCM |  | CWT |  | CIT |  | CFT |  | Total
United States |  | $ | 787.5 |  |  | $ | 318.5 |  |  | $ | 129.9 |  |  | $ | 33.4 |  |  | $ | 1,269.3 |
International: |  |  |  |  |  |  |  |  |  |
Europe |  | 59.9 |  |  | 5.4 |  |  | 18.2 |  |  | 12.9 |  |  | 96.4 |
North America (excluding U.S.) |  | 27.6 |  |  | 28.2 |  |  | 10.8 |  |  | 4.5 |  |  | 71.1 |
Asia and Middle East |  | 2.7 |  |  | 2.9 |  |  | 19.3 |  |  | 19.3 |  |  | 44.2 |
Africa |  | 0.7 |  |  | 2.2 |  |  | 2.7 |  |  | 0.2 |  |  | 5.8 |
Other |  | 2.7 |  |  | 1.9 |  |  | 4.1 |  |  | 0.8 |  |  | 9.5 |
Total international |  | 93.6 |  |  | 40.6 |  |  | 55.1 |  |  | 37.7 |  |  | 227.0 |
Total revenues |  | $ | 881.1 |  |  | $ | 359.1 |  |  | $ | 185.0 |  |  | $ | 71.1 |  |  | $ | 1,496.3 |
|  | Three Months Ended March 31, 2021
(in millions) |  | CCM |  | CWT |  | CIT |  | CFT |  | Total
United States |  | $ | 479.3 |  |  | $ | 147.0 |  |  | $ | 111.5 |  |  | $ | 30.6 |  |  | $ | 768.4 |
International: |  |  |  |  |  |  |  |  |  |
Europe |  | 54.3 |  |  | 6.3 |  |  | 14.4 |  |  | 12.5 |  |  | 87.5 |
North America (excluding U.S.) |  | 15.4 |  |  | 8.2 |  |  | 4.5 |  |  | 2.5 |  |  | 30.6 |
Asia and Middle East |  | 4.7 |  |  | 1.4 |  |  | 21.9 |  |  | 19.4 |  |  | 47.4 |
Africa |  | 1.2 |  |  | — |  |  | 1.3 |  |  | 0.2 |  |  | 2.7 |
Other |  | 1.5 |  |  | — |  |  | 2.2 |  |  | 0.6 |  |  | 4.3 |
Total international |  | 77.1 |  |  | 15.9 |  |  | 44.3 |  |  | 35.2 |  |  | 172.5 |
Total revenues |  | $ | 556.4 |  |  | $ | 162.9 |  |  | $ | 155.8 |  |  | $ | 65.8 |  |  | $ | 940.9 |

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