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Revenue (Tables)

12 Months Ended

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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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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