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v3.23.3

Revenue (Tables) | 9 Months Ended
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Sep. 30, 2023
Revenue from Contract with Customer [Abstract] |
Contract with Customer, Asset and Liability | Significant changes in the balance of contract liabilities for the three and nine months ended September 30, 2023 and 2022 were as follows (in millions):
| Three Months Ended September 30,
| 2023 |  | 2022
Balance at beginning of period | $ | 274.6 |  |  | $ | 217.7 |
Advance consideration received | 47.7 |  |  | 52.7 |
Revenue recognized during the period for extended warranty contracts, maintenance services and technology services | (25.1) |  |  | (19.4) |
Revenue recognized during the period related to grain storage and protein production systems | (6.8) |  |  | (29.6) |
Foreign currency translation | (5.8) |  |  | (12.0) |
Balance at September 30 | $ | 284.6 |  |  | $ | 209.4 |
| Nine Months Ended September 30,
| 2023 |  | 2022
Balance at beginning of period | $ | 239.0 |  |  | $ | 226.2 |
Advance consideration received | 164.2 |  |  | 127.2 |
Revenue recognized during the period for extended warranty contracts, maintenance services and technology services | (76.8) |  |  | (58.4) |
Revenue recognized during the period related to grain storage and protein production systems | (40.7) |  |  | (58.1) |
Foreign currency translation | (1.1) |  |  | (27.5) |
Balance at September 30 | $ | 284.6 |  |  | $ | 209.4 |
Disaggregation of Revenue | Net sales for the three months ended September 30, 2023 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 |  | $ | 744.6 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 744.6 |
Canada |  | 157.3 |  |  | — |  |  | — |  |  | — |  |  | 157.3 |
Brazil |  | — |  |  | 600.3 |  |  | — |  |  | — |  |  | 600.3 |
Other South America |  | — |  |  | 115.9 |  |  | — |  |  | — |  |  | 115.9 |
Germany |  | — |  |  | — |  |  | 342.3 |  |  | — |  |  | 342.3 |
France |  | — |  |  | — |  |  | 339.2 |  |  | — |  |  | 339.2 |
United Kingdom and Ireland |  | — |  |  | — |  |  | 134.3 |  |  | — |  |  | 134.3 |
Finland and Scandinavia |  | — |  |  | — |  |  | 181.5 |  |  | — |  |  | 181.5 |
Italy |  | — |  |  | — |  |  | 103.4 |  |  | — |  |  | 103.4 |
Other Europe |  | — |  |  | — |  |  | 398.2 |  |  | — |  |  | 398.2 |
Middle East and Algeria |  | — |  |  | — |  |  | 88.0 |  |  | — |  |  | 88.0 |
Africa |  | — |  |  | — |  |  | — |  |  | 40.9 |  |  | 40.9 |
Asia |  | — |  |  | — |  |  | — |  |  | 72.7 |  |  | 72.7 |
Australia and New Zealand |  | — |  |  | — |  |  | — |  |  | 94.1 |  |  | 94.1 |
Mexico, Central America and Caribbean |  | 39.2 |  |  | 3.6 |  |  | — |  |  | — |  |  | 42.8 |
|  | $ | 941.1 |  |  | $ | 719.8 |  |  | $ | 1,586.9 |  |  | $ | 207.7 |  |  | $ | 3,455.5 |
Major products: |  |  |  |  |  |  |  |  |  |
Tractors |  | $ | 347.5 |  |  | $ | 418.3 |  |  | $ | 1,126.4 |  |  | $ | 116.9 |  |  | $ | 2,009.1 |
Replacement parts |  | 107.1 |  |  | 41.8 |  |  | 292.6 |  |  | 26.0 |  |  | 467.5 |
Grain storage and protein production systems |  | 169.8 |  |  | 33.0 |  |  | 32.9 |  |  | 25.5 |  |  | 261.2 |
Combines, application equipment and other machinery |  | 316.7 |  |  | 226.7 |  |  | 135.0 |  |  | 39.3 |  |  | 717.7 |
|  | $ | 941.1 |  |  | $ | 719.8 |  |  | $ | 1,586.9 |  |  | $ | 207.7 |  |  | $ | 3,455.5 |
Net sales for the three months ended September 30, 2022 disaggregated by primary geographical markets and major products consisted of the following (in millions):
|  | North America(1) |  | South America |  | Europe/Middle East(1) |  | Asia/Pacific/Africa(1) |  | Consolidated(1)
Primary geographical markets: |  |  |  |  |  |  |  |  |  |
United States |  | $ | 730.7 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 730.7 |
Canada |  | 140.6 |  |  | — |  |  | — |  |  | — |  |  | 140.6 |
Brazil |  | — |  |  | 459.3 |  |  | — |  |  | — |  |  | 459.3 |
Other South America |  | — |  |  | 108.8 |  |  | — |  |  | — |  |  | 108.8 |
Germany |  | — |  |  | — |  |  | 294.9 |  |  | — |  |  | 294.9 |
France |  | — |  |  | — |  |  | 253.1 |  |  | — |  |  | 253.1 |
United Kingdom and Ireland |  | — |  |  | — |  |  | 148.1 |  |  | — |  |  | 148.1 |
Finland and Scandinavia |  | — |  |  | — |  |  | 176.4 |  |  | — |  |  | 176.4 |
Italy |  | — |  |  | — |  |  | 95.2 |  |  | — |  |  | 95.2 |
Other Europe |  | — |  |  | — |  |  | 367.6 |  |  | — |  |  | 367.6 |
Middle East and Algeria |  | — |  |  | — |  |  | 54.8 |  |  | — |  |  | 54.8 |
Africa |  | — |  |  | — |  |  | — |  |  | 44.7 |  |  | 44.7 |
Asia |  | — |  |  | — |  |  | — |  |  | 94.0 |  |  | 94.0 |
Australia and New Zealand |  | — |  |  | — |  |  | — |  |  | 111.1 |  |  | 111.1 |
Mexico, Central America and Caribbean |  | 39.2 |  |  | 3.1 |  |  | — |  |  | — |  |  | 42.3 |
|  | $ | 910.5 |  |  | $ | 571.2 |  |  | $ | 1,390.1 |  |  | $ | 249.8 |  |  | $ | 3,121.6 |
Major products: |  |  |  |  |  |  |  |  |  |
Tractors |  | $ | 328.2 |  |  | $ | 294.0 |  |  | $ | 977.2 |  |  | $ | 137.5 |  |  | $ | 1,736.9 |
Replacement parts |  | 109.5 |  |  | 41.4 |  |  | 246.2 |  |  | 28.0 |  |  | 425.1 |
Grain storage and protein production systems |  | 175.3 |  |  | 56.8 |  |  | 43.0 |  |  | 37.3 |  |  | 312.4 |
Combines, application equipment and other machinery |  | 297.4 |  |  | 179.0 |  |  | 123.8 |  |  | 47.1 |  |  | 647.3 |
|  | $ | 910.5 |  |  | $ | 571.2 |  |  | $ | 1,390.1 |  |  | $ | 249.8 |  |  | $ | 3,121.6 |
____________________________________ (1) Rounding may impact the summation of amounts. Net sales for the nine months ended September 30, 2023 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 |  | $ | 2,276.4 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 2,276.4 |
Canada |  | 469.9 |  |  | — |  |  | — |  |  | — |  |  | 469.9 |
Brazil |  | — |  |  | 1,537.8 |  |  | — |  |  | — |  |  | 1,537.8 |
Other South America |  | — |  |  | 273.0 |  |  | — |  |  | — |  |  | 273.0 |
Germany |  | — |  |  | — |  |  | 1,190.9 |  |  | — |  |  | 1,190.9 |
France |  | — |  |  | — |  |  | 1,014.3 |  |  | — |  |  | 1,014.3 |
United Kingdom and Ireland |  | — |  |  | — |  |  | 482.1 |  |  | — |  |  | 482.1 |
Finland and Scandinavia |  | — |  |  | — |  |  | 587.4 |  |  | — |  |  | 587.4 |
Italy |  | — |  |  | — |  |  | 337.2 |  |  | — |  |  | 337.2 |
Other Europe |  | — |  |  | — |  |  | 1,355.2 |  |  | — |  |  | 1,355.2 |
Middle East and Algeria |  | — |  |  | — |  |  | 314.4 |  |  | — |  |  | 314.4 |
Africa |  | — |  |  | — |  |  | — |  |  | 106.4 |  |  | 106.4 |
Asia |  | — |  |  | — |  |  | — |  |  | 261.5 |  |  | 261.5 |
Australia and New Zealand |  | — |  |  | — |  |  | — |  |  | 279.1 |  |  | 279.1 |
Mexico, Central America and Caribbean |  | 114.7 |  |  | 11.4 |  |  | — |  |  | — |  |  | 126.1 |
|  | $ | 2,861.0 |  |  | $ | 1,822.2 |  |  | $ | 5,281.5 |  |  | $ | 647.0 |  |  | $ | 10,611.7 |
Major products: |  |  |  |  |  |  |  |  |  |
Tractors |  | $ | 995.0 |  |  | $ | 1,072.9 |  |  | $ | 3,725.4 |  |  | $ | 356.0 |  |  | $ | 6,149.3 |
Replacement parts |  | 339.1 |  |  | 124.1 |  |  | 874.9 |  |  | 76.8 |  |  | 1,414.9 |
Grain storage and protein production systems |  | 506.1 |  |  | 112.6 |  |  | 116.7 |  |  | 94.7 |  |  | 830.1 |
Combines, application equipment and other machinery |  | 1,020.8 |  |  | 512.6 |  |  | 564.5 |  |  | 119.5 |  |  | 2,217.4 |
|  | $ | 2,861.0 |  |  | $ | 1,822.2 |  |  | $ | 5,281.5 |  |  | $ | 647.0 |  |  | $ | 10,611.7 |
Net sales for the nine months ended September 30, 2022 disaggregated by primary geographical markets and major products consisted of the following (in millions):
|  | North America(1) |  | South America |  | Europe/Middle East(1) |  | Asia/Pacific/Africa |  | Consolidated
Primary geographical markets: |  |  |  |  |  |  |  |  |  |
United States |  | $ | 1,884.4 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 1,884.4 |
Canada |  | 367.5 |  |  | — |  |  | — |  |  | — |  |  | 367.5 |
Brazil |  | — |  |  | 1,156.4 |  |  | — |  |  | — |  |  | 1,156.4 |
Other South America |  | — |  |  | 280.1 |  |  | — |  |  | — |  |  | 280.1 |
Germany |  | — |  |  | — |  |  | 900.2 |  |  | — |  |  | 900.2 |
France |  | — |  |  | — |  |  | 782.3 |  |  | — |  |  | 782.3 |
United Kingdom and Ireland |  | — |  |  | — |  |  | 451.3 |  |  | — |  |  | 451.3 |
Finland and Scandinavia |  | — |  |  | — |  |  | 569.5 |  |  | — |  |  | 569.5 |
Italy |  | — |  |  | — |  |  | 270.3 |  |  | — |  |  | 270.3 |
Other Europe |  | — |  |  | — |  |  | 1,152.4 |  |  | — |  |  | 1,152.4 |
Middle East and Algeria |  | — |  |  | — |  |  | 134.8 |  |  | — |  |  | 134.8 |
Africa |  | — |  |  | — |  |  | — |  |  | 115.2 |  |  | 115.2 |
Asia |  | — |  |  | — |  |  | — |  |  | 295.9 |  |  | 295.9 |
Australia and New Zealand |  | — |  |  | — |  |  | — |  |  | 282.4 |  |  | 282.4 |
Mexico, Central America and Caribbean |  | 99.5 |  |  | 10.3 |  |  | — |  |  | — |  |  | 109.8 |
|  | $ | 2,351.4 |  |  | $ | 1,446.8 |  |  | $ | 4,260.8 |  |  | $ | 693.5 |  |  | $ | 8,752.5 |
Major products: |  |  |  |  |  |  |  |  |  |
Tractors |  | $ | 843.5 |  |  | $ | 791.9 |  |  | $ | 2,868.8 |  |  | $ | 375.3 |  |  | $ | 4,879.5 |
Replacement parts |  | 323.6 |  |  | 116.2 |  |  | 803.1 |  |  | 77.8 |  |  | 1,320.7 |
Grain storage and protein production systems |  | 461.9 |  |  | 138.4 |  |  | 120.0 |  |  | 118.4 |  |  | 838.7 |
Combines, application equipment and other machinery |  | 722.3 |  |  | 400.3 |  |  | 469.0 |  |  | 122.1 |  |  | 1,713.7 |
|  | $ | 2,351.4 |  |  | $ | 1,446.8 |  |  | $ | 4,260.8 |  |  | $ | 693.5 |  |  | $ | 8,752.5 |
____________________________________ (1) Rounding may impact the summation of amounts.

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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 -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 + 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 -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 + Details
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