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v3.22.1

Revenue (Tables) | 3 Months Ended
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Mar. 31, 2022
Revenue from Contract with Customer [Abstract] |
Contract with Customer, Asset and Liability | Significant changes in the balance of contract liabilities for the three months ended March 31, 2022 and 2021 were as follows (in millions):
| Three Months Ended March 31,
| 2022 |  | 2021
Balance at beginning of period | $ | 226.2 |  |  | $ | 172.0 |
Advance consideration received | 43.0 |  |  | 57.1 |
Revenue recognized during the period for extended warranty contracts, maintenance services and technology services | (18.6) |  |  | (13.0) |
Revenue recognized during the period related to grain storage and protein production systems | (14.6) |  |  | (27.2) |
Foreign currency translation | (3.6) |  |  | (2.6) |
Balance at March 31 | $ | 232.4 |  |  | $ | 186.3 |
Disaggregation of Revenue | Net sales for the three months ended March 31, 2022 disaggregated by primary geographical markets and major products consisted of the following (in millions):
|  | North America |  | South America |  | Europe/Middle East(1) |  | Asia/Pacific/Africa |  | Consolidated(1)
Primary geographical markets: |  |  |  |  |  |  |  |  |  |
United States |  | $ | 570.3 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 570.3 |
Canada |  | 101.1 |  |  | — |  |  | — |  |  | — |  |  | 101.1 |
South America |  | — |  |  | 352.9 |  |  | — |  |  | — |  |  | 352.9 |
Germany |  | — |  |  | — |  |  | 317.2 |  |  | — |  |  | 317.2 |
France |  | — |  |  | — |  |  | 271.6 |  |  | — |  |  | 271.6 |
United Kingdom and Ireland |  | — |  |  | — |  |  | 145.4 |  |  | — |  |  | 145.4 |
Finland and Scandinavia |  | — |  |  | — |  |  | 197.0 |  |  | — |  |  | 197.0 |
Other Europe |  | — |  |  | — |  |  | 438.6 |  |  | — |  |  | 438.6 |
Middle East and Algeria |  | — |  |  | — |  |  | 33.4 |  |  | — |  |  | 33.4 |
Africa |  | — |  |  | — |  |  | — |  |  | 36.0 |  |  | 36.0 |
Asia |  | — |  |  | — |  |  | — |  |  | 104.6 |  |  | 104.6 |
Australia and New Zealand |  | — |  |  | — |  |  | — |  |  | 84.6 |  |  | 84.6 |
Mexico, Central America and Caribbean |  | 29.6 |  |  | 3.5 |  |  | — |  |  | — |  |  | 33.1 |
|  | $ | 701.0 |  |  | $ | 356.4 |  |  | $ | 1,403.1 |  |  | $ | 225.2 |  |  | $ | 2,685.7 |
Major products: |  |  |  |  |  |  |  |  |  |
Tractors |  | $ | 251.9 |  |  | $ | 206.6 |  |  | $ | 915.1 |  |  | $ | 125.4 |  |  | $ | 1,499.0 |
Replacement parts |  | 94.6 |  |  | 38.2 |  |  | 286.1 |  |  | 26.7 |  |  | 445.6 |
Grain storage and protein production systems |  | 131.1 |  |  | 40.0 |  |  | 31.3 |  |  | 37.5 |  |  | 239.9 |
Combines, application equipment and other machinery |  | 223.4 |  |  | 71.6 |  |  | 170.6 |  |  | 35.6 |  |  | 501.2 |
|  | $ | 701.0 |  |  | $ | 356.4 |  |  | $ | 1,403.1 |  |  | $ | 225.2 |  |  | $ | 2,685.7 |
(1) Rounding may impact the summation of amounts. Net sales for the three months ended March 31, 2021 disaggregated by primary geographical markets and major products consisted of the following (in millions):
|  | North America |  | South America |  | Europe/Middle East |  | Asia/Pacific/Africa |  | Consolidated
Primary geographical markets: |  |  |  |  |  |  |  |  |  |
United States |  | $ | 498.7 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 498.7 |
Canada |  | 91.6 |  |  | — |  |  | — |  |  | — |  |  | 91.6 |
South America |  | — |  |  | 238.6 |  |  | — |  |  | — |  |  | 238.6 |
Germany |  | — |  |  | — |  |  | 345.5 |  |  | — |  |  | 345.5 |
France |  | — |  |  | — |  |  | 215.5 |  |  | — |  |  | 215.5 |
United Kingdom and Ireland |  | — |  |  | — |  |  | 128.4 |  |  | — |  |  | 128.4 |
Finland and Scandinavia |  | — |  |  | — |  |  | 157.4 |  |  | — |  |  | 157.4 |
Other Europe |  | — |  |  | — |  |  | 423.5 |  |  | — |  |  | 423.5 |
Middle East and Algeria |  | — |  |  | — |  |  | 56.9 |  |  | — |  |  | 56.9 |
Africa |  | — |  |  | — |  |  | — |  |  | 25.8 |  |  | 25.8 |
Asia |  | — |  |  | — |  |  | — |  |  | 102.3 |  |  | 102.3 |
Australia and New Zealand |  | — |  |  | — |  |  | — |  |  | 71.8 |  |  | 71.8 |
Mexico, Central America and Caribbean |  | 20.8 |  |  | 1.9 |  |  | — |  |  | — |  |  | 22.7 |
|  | $ | 611.1 |  |  | $ | 240.5 |  |  | $ | 1,327.2 |  |  | $ | 199.9 |  |  | $ | 2,378.7 |
Major products: |  |  |  |  |  |  |  |  |  |
Tractors |  | $ | 190.3 |  |  | $ | 111.2 |  |  | $ | 881.3 |  |  | $ | 94.0 |  |  | $ | 1,276.8 |
Replacement parts |  | 85.1 |  |  | 29.0 |  |  | 261.0 |  |  | 23.5 |  |  | 398.6 |
Grain storage and protein production systems |  | 106.4 |  |  | 21.6 |  |  | 29.1 |  |  | 56.9 |  |  | 214.0 |
Combines, application equipment and other machinery |  | 229.3 |  |  | 78.7 |  |  | 155.8 |  |  | 25.5 |  |  | 489.3 |
|  | $ | 611.1 |  |  | $ | 240.5 |  |  | $ | 1,327.2 |  |  | $ | 199.9 |  |  | $ | 2,378.7 |

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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 + Details
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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 + Details
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