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v3.22.2.2

Revenue Recognition (Tables) | 9 Months Ended
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Sep. 30, 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 September 30, 2022, follows:
(in millions) |  | Remainder of 2022 |  | 2023 |  | 2024 |  | 2025 |  | 2026 |  | 2027 |  | Thereafter
Extended service warranties |  | $ | 6.2 |  |  | $ | 24.3 |  |  | $ | 23.2 |  |  | $ | 22.3 |  |  | $ | 21.3 |  |  | $ | 20.2 |  |  | $ | 169.3 |
Change in Contract Liabilities | A summary of the change in contract liabilities for the nine months ended September 30, follows:
(in millions) |  | 2022 |  | 2021
Balance as of January 1 |  | $ | 283.9 |  |  | $ | 268.3 |
Revenue recognized |  | (55.2) |  |  | (48.7) |
Revenue deferred |  | 76.5 |  |  | 59.9 |
Acquired liabilities |  | — |  |  | 2.6 |
Balance as of September 30 |  | $ | 305.2 |  |  | $ | 282.1 |
Schedule of Change in Contract Assets | A summary of the change in contract assets for the nine months ended September 30, follows:
(in millions) |  | 2022 |  | 2021 |  |
Balance as of January 1 |  | $ | 72.1 |  |  | $ | 84.5 |  |  |
Balance as of September 30 |  | 84.0 |  |  | 73.5 |  |  |
Change in contract assets |  | $ | 11.9 |  |  | $ | (11.0) |  |  |
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, 2022
(in millions) |  | CCM |  | CWT |  | CIT |  | CFT |  | Total
General construction |  | $ | 1,090.3 |  |  | $ | 353.0 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,443.3 |
Aerospace |  | — |  |  | — |  |  | 104.5 |  |  | — |  |  | 104.5 |
Medical |  | — |  |  | — |  |  | 81.3 |  |  | — |  |  | 81.3 |
Transportation |  | — |  |  | — |  |  | — |  |  | 40.5 |  |  | 40.5 |
Heavy equipment |  | — |  |  | 26.3 |  |  | — |  |  | — |  |  | 26.3 |
General industrial and other |  | — |  |  | 27.4 |  |  | 37.9 |  |  | 32.9 |  |  | 98.2 |
Total revenues |  | $ | 1,090.3 |  |  | $ | 406.7 |  |  | $ | 223.7 |  |  | $ | 73.4 |  |  | $ | 1,794.1 |
|  | Three Months Ended September 30, 2021
(in millions) |  | CCM |  | CWT |  | CIT |  | CFT |  | Total
General construction |  | $ | 783.9 |  |  | $ | 217.2 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,001.1 |
Aerospace |  | — |  |  | — |  |  | 78.0 |  |  | — |  |  | 78.0 |
Medical |  | — |  |  | — |  |  | 66.6 |  |  | — |  |  | 66.6 |
Transportation |  | — |  |  | — |  |  | — |  |  | 37.9 |  |  | 37.9 |
Heavy equipment |  | — |  |  | 29.8 |  |  | — |  |  | — |  |  | 29.8 |
General industrial and other |  | — |  |  | 34.9 |  |  | 34.1 |  |  | 33.2 |  |  | 102.2 |
Total revenues |  | $ | 783.9 |  |  | $ | 281.9 |  |  | $ | 178.7 |  |  | $ | 71.1 |  |  | $ | 1,315.6 |
|  | Nine Months Ended September 30, 2022
(in millions) |  | CCM |  | CWT |  | CIT |  | CFT |  | Total
General construction |  | $ | 3,084.8 |  |  | $ | 1,020.2 |  |  | $ | — |  |  | $ | — |  |  | $ | 4,105.0 |
Aerospace |  | — |  |  | — |  |  | 282.4 |  |  | — |  |  | 282.4 |
Medical |  | — |  |  | — |  |  | 224.0 |  |  | — |  |  | 224.0 |
Transportation |  | — |  |  | — |  |  | — |  |  | 118.5 |  |  | 118.5 |
Heavy equipment |  | — |  |  | 84.4 |  |  | — |  |  | — |  |  | 84.4 |
General industrial and other |  | — |  |  | 110.1 |  |  | 114.9 |  |  | 98.0 |  |  | 323.0 |
Total revenues |  | $ | 3,084.8 |  |  | $ | 1,214.7 |  |  | $ | 621.3 |  |  | $ | 216.5 |  |  | $ | 5,137.3 |
|  | Nine Months Ended September 30, 2021
(in millions) |  | CCM |  | CWT |  | CIT |  | CFT |  | Total
General construction |  | $ | 2,063.1 |  |  | $ | 494.0 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,557.1 |
Aerospace |  | — |  |  | — |  |  | 217.9 |  |  | — |  |  | 217.9 |
Medical |  | — |  |  | — |  |  | 180.9 |  |  | — |  |  | 180.9 |
Transportation |  | — |  |  | — |  |  | — |  |  | 107.6 |  |  | 107.6 |
Heavy equipment |  | — |  |  | 73.0 |  |  | — |  |  | — |  |  | 73.0 |
General industrial and other |  | — |  |  | 92.3 |  |  | 104.6 |  |  | 100.9 |  |  | 297.8 |
Total revenues |  | $ | 2,063.1 |  |  | $ | 659.3 |  |  | $ | 503.4 |  |  | $ | 208.5 |  |  | $ | 3,434.3 |
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, 2022
(in millions) |  | CCM |  | CWT |  | CIT |  | CFT |  | Total
United States |  | $ | 1,005.4 |  |  | $ | 362.2 |  |  | $ | 157.9 |  |  | $ | 34.3 |  |  | $ | 1,559.8 |
International: |  |  |  |  |  |  |  |  |  |
Europe |  | 64.2 |  |  | 4.4 |  |  | 17.5 |  |  | 10.9 |  |  | 97.0 |
North America (excluding U.S.) |  | 14.9 |  |  | 34.6 |  |  | 11.4 |  |  | 3.5 |  |  | 64.4 |
Asia and Middle East |  | 3.3 |  |  | 3.2 |  |  | 24.9 |  |  | 23.2 |  |  | 54.6 |
Africa |  | 0.2 |  |  | 0.9 |  |  | 2.7 |  |  | 0.2 |  |  | 4.0 |
Other |  | 2.3 |  |  | 1.4 |  |  | 9.3 |  |  | 1.3 |  |  | 14.3 |
Total international |  | 84.9 |  |  | 44.5 |  |  | 65.8 |  |  | 39.1 |  |  | 234.3 |
Total revenues |  | $ | 1,090.3 |  |  | $ | 406.7 |  |  | $ | 223.7 |  |  | $ | 73.4 |  |  | $ | 1,794.1 |
|  | Three Months Ended September 30, 2021
(in millions) |  | CCM |  | CWT |  | CIT |  | CFT |  | Total
United States |  | $ | 701.3 |  |  | $ | 254.0 |  |  | $ | 134.7 |  |  | $ | 31.2 |  |  | $ | 1,121.2 |
International: |  |  |  |  |  |  |  |  |  |
Europe |  | 57.5 |  |  | 6.7 |  |  | 15.8 |  |  | 14.3 |  |  | 94.3 |
North America (excluding U.S.) |  | 19.7 |  |  | 18.5 |  |  | 3.5 |  |  | 2.8 |  |  | 44.5 |
Asia and Middle East |  | 4.0 |  |  | 1.0 |  |  | 19.0 |  |  | 22.5 |  |  | 46.5 |
Africa |  | 0.1 |  |  | 1.4 |  |  | 1.0 |  |  | 0.1 |  |  | 2.6 |
Other |  | 1.3 |  |  | 0.3 |  |  | 4.7 |  |  | 0.2 |  |  | 6.5 |
Total international |  | 82.6 |  |  | 27.9 |  |  | 44.0 |  |  | 39.9 |  |  | 194.4 |
Total revenues |  | $ | 783.9 |  |  | $ | 281.9 |  |  | $ | 178.7 |  |  | $ | 71.1 |  |  | $ | 1,315.6 |
|  | Nine Months Ended September 30, 2022
(in millions) |  | CCM |  | CWT |  | CIT |  | CFT |  | Total
United States |  | $ | 2,802.3 |  |  | $ | 1,084.5 |  |  | $ | 438.0 |  |  | $ | 103.8 |  |  | $ | 4,428.6 |
International: |  |  |  |  |  |  |  |  |  |
Europe |  | 186.9 |  |  | 14.9 |  |  | 53.2 |  |  | 35.5 |  |  | 290.5 |
North America (excluding U.S.) |  | 75.1 |  |  | 98.7 |  |  | 31.0 |  |  | 11.3 |  |  | 216.1 |
Asia and Middle East |  | 11.0 |  |  | 8.0 |  |  | 71.4 |  |  | 62.0 |  |  | 152.4 |
Africa |  | 1.4 |  |  | 3.6 |  |  | 8.6 |  |  | 0.6 |  |  | 14.2 |
Other |  | 8.1 |  |  | 5.0 |  |  | 19.1 |  |  | 3.3 |  |  | 35.5 |
Total international |  | 282.5 |  |  | 130.2 |  |  | 183.3 |  |  | 112.7 |  |  | 708.7 |
Total revenues |  | $ | 3,084.8 |  |  | $ | 1,214.7 |  |  | $ | 621.3 |  |  | $ | 216.5 |  |  | $ | 5,137.3 |
|  | Nine Months Ended September 30, 2021
(in millions) |  | CCM |  | CWT |  | CIT |  | CFT |  | Total
United States |  | $ | 1,814.4 |  |  | $ | 598.7 |  |  | $ | 373.0 |  |  | $ | 93.2 |  |  | $ | 2,879.3 |
International: |  |  |  |  |  |  |  |  |  |
Europe |  | 173.7 |  |  | 15.2 |  |  | 46.5 |  |  | 40.4 |  |  | 275.8 |
North America (excluding U.S.) |  | 57.6 |  |  | 35.4 |  |  | 10.5 |  |  | 8.1 |  |  | 111.6 |
Asia and Middle East |  | 13.1 |  |  | 7.4 |  |  | 61.3 |  |  | 64.2 |  |  | 146.0 |
Africa |  | 1.4 |  |  | 2.3 |  |  | 3.2 |  |  | 0.5 |  |  | 7.4 |
Other |  | 2.9 |  |  | 0.3 |  |  | 8.9 |  |  | 2.1 |  |  | 14.2 |
Total international |  | 248.7 |  |  | 60.6 |  |  | 130.4 |  |  | 115.3 |  |  | 555.0 |
Total revenues |  | $ | 2,063.1 |  |  | $ | 659.3 |  |  | $ | 503.4 |  |  | $ | 208.5 |  |  | $ | 3,434.3 |

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