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Revenues from Contracts (Tables)

12 Months Ended

Dec. 31, 2022

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

We disaggregate revenue from contracts with customers by major product line and based on the timing of recognition for each of our reportable segments, as we believe such disaggregation best depicts how the nature, amount, timing, and uncertainty of our revenues and cash flows are effected by economic factors, with such disaggregation presented below for the years ended December 31, 2022, 2021, and 2020:

						Year Ended December 31, 2022
Reportable Segments						HVAC						Detection and Measurement						Total
Major product lines
Package and process cooling equipment and services, and engineered air quality solutions						$	537.0					$	—					$	537.0
Boilers, comfort heating, and ventilation						376.8						—						376.8
Underground locators, inspection and rehabilitation equipment, and robotic systems						—						262.1						262.1
Communication technologies, obstruction lighting, and fare collection systems						—						285.0						285.0
						$	913.8					$	547.1					$	1,460.9
Timing of Revenue Recognition
Revenues recognized at a point in time						$	838.0					$	455.1					$	1,293.1
Revenues recognized over time						75.8						92.0						167.8
						$	913.8					$	547.1					$	1,460.9

						Year Ended December 31, 2021
Reportable Segments						HVAC						Detection and Measurement						Total
Major product lines
Package and process cooling equipment and services, and engineered air quality solutions						$	433.8					$	—					$	433.8
Boilers, comfort heating, and ventilation						318.3						—						318.3
Underground locators, inspection and rehabilitation equipment, and robotic systems						—						256.8						256.8
Communication technologies, obstruction lighting, and fare collection systems						—						210.6						210.6
						$	752.1					$	467.4					$	1,219.5
Timing of Revenue Recognition
Revenues recognized at a point in time						$	661.2					$	415.9					$	1,077.1
Revenues recognized over time						90.9						51.5						142.4
						$	752.1					$	467.4					$	1,219.5

						Year Ended December 31, 2020
Reportable Segments						HVAC						Detection and Measurement						Total
Major product lines
Package and process cooling equipment and services						$	447.1					$	—					$	447.1
Boilers, comfort heating, and ventilation						293.7						—						293.7
Underground locators, inspection and rehabilitation equipment, and robotic systems						—						217.8						217.8
Communication technologies, obstruction lighting, and fare collection systems						—						169.5						169.5
						$	740.8					$	387.3					$	1,128.1
Timing of Revenue Recognition
Revenues recognized at a point in time						$	622.2					$	341.9					$	964.1
Revenues recognized over time						118.6						45.4						164.0
						$	740.8					$	387.3					$	1,128.1

Contract with Customer, Asset and Liability

Our contract balances consisted of the following as of December 31, 2022 and 2021:

Contract Balances			December 31, 2022						December 31, 2021						Change
Contract Accounts Receivable (1)			$	259.9					$	215.3					$	44.6
Contract Assets			23.9						28.9						(5.0)
Contract Liabilities - current			(52.8)						(44.7)						(8.1)
Contract Liabilities - non-current (2)			(4.7)						(5.8)						1.1
Net contract balance			$	226.3					$	193.7					$	32.6

_____________________

(1) Included in “Accounts receivable, net” within the accompanying consolidated balance sheets.

(2) Included in “Other long-term liabilities” within the accompanying consolidated balance sheets.

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- Definition

Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130551-203045

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- Definition

Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130545-203045

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- References

No definition available.

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