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Revenue (Tables)

3 Months Ended

Mar. 31, 2023

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, 2023 and 2022 were as follows (in millions):

			Three Months Ended March 31,
			2023						2022
Balance at beginning of period			$	239.0					$	226.2
Advance consideration received			58.5						43.0
Revenue recognized during the period for extended warranty contracts, maintenance services and technology services			(24.9)						(18.6)
Revenue recognized during the period related to grain storage and protein production systems			(16.0)						(14.6)
Foreign currency translation			3.0						(3.6)
Balance at March 31			$	259.6					$	232.4

Disaggregation of Revenue

Net sales for the three months ended March 31, 2023 disaggregated by primary geographical markets and major products consisted of the following (in millions):

						North America						South America(1)						Europe/Middle East(1)						Asia/Pacific/Africa						Consolidated
Primary geographical markets:
United States						$	760.1					$	—					$	—					$	—					$	760.1
Canada						127.9						—						—						—						127.9
Brazil												425.4																		425.4
Other South America						—						73.7						—						—						73.7
Germany						—						—						395.4						—						395.4
France						—						—						301.4						—						301.4
United Kingdom and Ireland						—						—						174.9						—						174.9
Finland and Scandinavia						—						—						180.0						—						180.0
Italy																		92.2												92.2
Other Europe						—						—						444.3						—						444.3
Middle East and Algeria						—						—						115.6						—						115.6
Africa						—						—						—						30.4						30.4
Asia						—						—						—						86.7						86.7
Australia and New Zealand						—						—						—						85.7						85.7
Mexico, Central America and Caribbean						35.1						4.7						—						—						39.8
						$	923.1					$	503.8					$	1,703.8					$	202.8					$	3,333.5
Major products:
Tractors						$	312.1					$	283.0					$	1,205.7					$	107.2					$	1,908.0
Replacement parts						101.8						43.4						283.2						27.3						455.7
Grain storage and protein production systems						147.1						40.7						34.1						34.0						255.9
Combines, application equipment and other machinery						362.1						136.8						180.7						34.3						713.9
						$	923.1					$	503.8					$	1,703.8					$	202.8					$	3,333.5

____________________________________

(1) Rounding may impact the summation of amounts.

    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
Brazil												273.8																		273.8
Other South America						—						79.1						—						—						79.1
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
Italy																		71.4												71.4
Other Europe						—						—						367.2						—						367.2
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.

X

- 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
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-10

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X

- 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
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-5

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- References

No definition available.

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