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Revenue (Tables) | 12 Months Ended
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Dec. 31, 2023
Revenue from Contract with Customer [Abstract] |
Significant Changes in Contract Assets and Liabilities | Significant changes in the balance of contract liabilities for the years ended December 31, 2023 and 2022 were as follows (in millions):
|  |  | Year Ended December 31, 2023 |  | Year Ended December 31, 2022
Balance at beginning of period |  |  | $ | 239.0 |  |  | $ | 226.2 |
Advance consideration received |  |  | 228.8 |  |  | 193.8 |
Revenue recognized during the period for extended warranty contracts, maintenance services and technology services |  |  | (110.6) |  |  | (82.0) |
Revenue recognized during the period related to grain storage and protein production systems |  |  | (53.7) |  |  | (85.2) |
Foreign currency translation |  |  | 7.2 |  |  | (13.8) |
Balance as of December 31 |  |  | $ | 310.7 |  |  | $ | 239.0 |
Disaggregation of Revenue | Net sales for the year ended December 31, 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 |  | $ | 2,961.5 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 2,961.5 |
Canada |  | 637.9 |  |  | — |  |  | — |  |  | — |  |  | 637.9 |
Germany |  | — |  |  | — |  |  | 1,749.5 |  |  | — |  |  | 1,749.5 |
France |  | — |  |  | — |  |  | 1,494.3 |  |  | — |  |  | 1,494.3 |
United Kingdom and Ireland |  | — |  |  | — |  |  | 703.1 |  |  | — |  |  | 703.1 |
Finland and Scandinavia |  | — |  |  | — |  |  | 837.3 |  |  | — |  |  | 837.3 |
Italy |  | — |  |  | — |  |  | 457.1 |  |  | — |  |  | 457.1 |
Other Europe |  | — |  |  | — |  |  | 1,871.5 |  |  | — |  |  | 1,871.5 |
Brazil |  | — |  |  | 1,860.3 |  |  | — |  |  | — |  |  | 1,860.3 |
Other South America |  | — |  |  | 358.1 |  |  | — |  |  | — |  |  | 358.1 |
Middle East and Algeria |  | — |  |  | — |  |  | 427.7 |  |  | — |  |  | 427.7 |
Africa |  | — |  |  | — |  |  | — |  |  | 144.3 |  |  | 144.3 |
Asia |  | — |  |  | — |  |  | — |  |  | 362.7 |  |  | 362.7 |
Australia and New Zealand |  | — |  |  | — |  |  | — |  |  | 378.0 |  |  | 378.0 |
Mexico, Central America and Caribbean |  | 153.3 |  |  | 15.8 |  |  | — |  |  | — |  |  | 169.1 |
|  | $ | 3,752.7 |  |  | $ | 2,234.2 |  |  | $ | 7,540.5 |  |  | $ | 885.0 |  |  | $ | 14,412.4 |
Major products: |  |  |  |  |  |  |  |  |  |
Tractors |  | $ | 1,402.3 |  |  | $ | 1,288.4 |  |  | $ | 5,532.9 |  |  | $ | 487.4 |  |  | $ | 8,711.0 |
Replacement parts |  | 421.0 |  |  | 167.5 |  |  | 1,124.7 |  |  | 102.8 |  |  | 1,816.0 |
Grain storage and protein production systems |  | 614.5 |  |  | 155.9 |  |  | 155.3 |  |  | 136.9 |  |  | 1,062.6 |
Combines, application equipment and other machinery |  | 1,314.9 |  |  | 622.4 |  |  | 727.6 |  |  | 157.9 |  |  | 2,822.8 |
|  | $ | 3,752.7 |  |  | $ | 2,234.2 |  |  | $ | 7,540.5 |  |  | $ | 885.0 |  |  | $ | 14,412.4 |
Net sales for the year ended December 31, 2022 disaggregated by primary geographical markets and major products consisted of the following (in millions):
|  | North America |  | South America(1) |  | Europe/ Middle East |  | Asia/ Pacific/Africa |  | Consolidated(1)
Primary geographical markets: |  |  |  |  |  |  |  |  |  |
United States |  | $ | 2,546.9 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 2,546.9 |
Canada |  | 490.2 |  |  | — |  |  | — |  |  | — |  |  | 490.2 |
Germany |  | — |  |  | — |  |  | 1,394.9 |  |  | — |  |  | 1,394.9 |
France |  | — |  |  | — |  |  | 1,220.1 |  |  | — |  |  | 1,220.1 |
United Kingdom and Ireland |  | — |  |  | — |  |  | 664.1 |  |  | — |  |  | 664.1 |
Finland and Scandinavia |  | — |  |  | — |  |  | 838.8 |  |  | — |  |  | 838.8 |
Italy |  | — |  |  | — |  |  | 421.7 |  |  | — |  |  | 421.7 |
Other Europe |  | — |  |  | — |  |  | 1,691.5 |  |  | — |  |  | 1,691.5 |
Brazil |  | — |  |  | 1,748.8 |  |  | — |  |  | — |  |  | 1,748.8 |
Other South America |  | — |  |  | 358.0 |  |  | — |  |  | — |  |  | 358.0 |
Middle East and Algeria |  | — |  |  | — |  |  | 216.2 |  |  | — |  |  | 216.2 |
Africa |  | — |  |  | — |  |  | — |  |  | 157.0 |  |  | 157.0 |
Asia |  | — |  |  | — |  |  | — |  |  | 384.2 |  |  | 384.2 |
Australia and New Zealand |  | — |  |  | — |  |  | — |  |  | 366.2 |  |  | 366.2 |
Mexico, Central America and Caribbean |  | 138.0 |  |  | 14.9 |  |  | — |  |  | — |  |  | 152.9 |
|  | $ | 3,175.1 |  |  | $ | 2,121.6 |  |  | $ | 6,447.3 |  |  | $ | 907.4 |  |  | $ | 12,651.4 |
Major products: |  |  |  |  |  |  |  |  |  |
Tractors |  | $ | 1,191.1 |  |  | $ | 1,147.2 |  |  | $ | 4,607.2 |  |  | $ | 478.6 |  |  | $ | 7,424.1 |
Replacement parts |  | 405.6 |  |  | 154.5 |  |  | 1,021.5 |  |  | 105.6 |  |  | 1,687.2 |
Grain storage and protein production systems |  | 585.9 |  |  | 188.3 |  |  | 172.3 |  |  | 155.4 |  |  | 1,101.9 |
Combines, application equipment and other machinery |  | 992.5 |  |  | 631.7 |  |  | 646.3 |  |  | 167.8 |  |  | 2,438.3 |
|  | $ | 3,175.1 |  |  | $ | 2,121.6 |  |  | $ | 6,447.3 |  |  | $ | 907.4 |  |  | $ | 12,651.4 |
___________________________________ (1) Rounding may impact the summation of amounts. Net sales for the year ended December 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 |  | $ | 2,116.2 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 2,116.2 |
Canada |  | 436.7 |  |  | — |  |  | — |  |  | — |  |  | 436.7 |
Germany |  | — |  |  | — |  |  | 1,332.0 |  |  | — |  |  | 1,332.0 |
France |  | — |  |  | — |  |  | 1,129.1 |  |  | — |  |  | 1,129.1 |
United Kingdom and Ireland |  | — |  |  | — |  |  | 635.3 |  |  | — |  |  | 635.3 |
Finland and Scandinavia |  | — |  |  | — |  |  | 836.3 |  |  | — |  |  | 836.3 |
Italy |  | — |  |  | — |  |  | 451.6 |  |  | — |  |  | 451.6 |
Other Europe |  | — |  |  | — |  |  | 1,653.0 |  |  | — |  |  | 1,653.0 |
Brazil |  | — |  |  | 1,017.8 |  |  | — |  |  | — |  |  | 1,017.8 |
Other South America |  | — |  |  | 277.0 |  |  | — |  |  | — |  |  | 277.0 |
Middle East and Algeria |  | — |  |  | — |  |  | 184.4 |  |  | — |  |  | 184.4 |
Africa |  | — |  |  | — |  |  | — |  |  | 152.3 |  |  | 152.3 |
Asia |  | — |  |  | — |  |  | — |  |  | 436.5 |  |  | 436.5 |
Australia and New Zealand |  | — |  |  | — |  |  | — |  |  | 360.9 |  |  | 360.9 |
Mexico, Central America and Caribbean |  | 106.3 |  |  | 12.9 |  |  | — |  |  | — |  |  | 119.2 |
|  | $ | 2,659.2 |  |  | $ | 1,307.7 |  |  | $ | 6,221.7 |  |  | $ | 949.7 |  |  | $ | 11,138.3 |
Major products: |  |  |  |  |  |  |  |  |  |
Tractors |  | $ | 940.4 |  |  | $ | 664.6 |  |  | $ | 4,338.2 |  |  | $ | 443.7 |  |  | $ | 6,386.9 |
Replacement parts |  | 379.1 |  |  | 131.8 |  |  | 1,070.5 |  |  | 106.5 |  |  | 1,687.9 |
Grain storage and protein production systems |  | 534.9 |  |  | 140.1 |  |  | 174.0 |  |  | 227.1 |  |  | 1,076.1 |
Combines, application equipment and other machinery |  | 804.8 |  |  | 371.2 |  |  | 639.0 |  |  | 172.4 |  |  | 1,987.4 |
|  | $ | 2,659.2 |  |  | $ | 1,307.7 |  |  | $ | 6,221.7 |  |  | $ | 949.7 |  |  | $ | 11,138.3 |

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