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Segment Reporting
 9 Months Ended
Sep. 30, 2024
Segment Reporting [Abstract]  
Segment Reporting SEGMENT REPORTING
    The Company has four operating segments that are also its reportable segments, which consist of the North America, South America, Europe/Middle East and Asia/Pacific/Africa regions. The Company’s reportable segments are geography based and distribute a full range of agricultural machinery and precision agriculture technology. The Company evaluates segment performance primarily based on income from operations. Sales for each segment are based on the location of the third-party customer. The Company’s selling, general and administrative expenses and engineering expenses are generally charged to each segment based on the region and division where the expenses are incurred. As a result, the components of income from operations for one segment may not be comparable to another segment. Segment results for the three and nine months ended September 30, 2024 and 2023 and assets as of September 30, 2024 and December 31, 2023 based on the Company’s reportable segments are as follows (in millions):

Three Months Ended September 30,North AmericaSouth AmericaEurope/Middle EastAsia/Pacific/AfricaTotal Segments
2024
Net sales$736.1 $381.6 $1,298.2 $183.4 $2,599.3 
Income from operations52.7 45.1 83.0 7.0 187.8 
Depreciation15.6 8.5 33.2 3.6 60.9 
Capital expenditures10.6 9.5 65.3 0.9 86.3 
2023
Net sales$941.1 $719.8 $1,586.9 $207.7 $3,455.5 
Income from operations139.8 149.8 199.3 19.2 508.1 
Depreciation16.2 9.6 28.5 4.5 58.8 
Capital expenditures25.0 15.4 79.5 0.8 120.7 

Nine Months Ended September 30,North AmericaSouth AmericaEurope/Middle EastAsia/Pacific/AfricaTotal Segments
2024
Net sales$2,303.5 $1,033.9 $4,930.1 $507.1 $8,774.6 
Income from operations171.8 73.9 654.4 27.4 927.5 
Depreciation50.2 27.5 99.3 12.4 189.4 
Capital expenditures46.5 33.0 196.9 2.9 279.3 
2023
Net sales$2,861.0 $1,822.2 $5,281.5 $647.0 $10,611.7 
Income from operations378.8 370.7 733.9 58.2 1,541.6 
Depreciation46.3 26.3 83.0 13.3 168.9 
Capital expenditures96.7 49.2 209.3 2.5 357.7 
Assets
As of September 30, 2024$1,958.5 $1,261.5 $3,336.7 $894.0 $7,450.7 
As of December 31, 20231,883.2 1,394.9 3,017.4 875.2 7,170.7 
    A reconciliation from the segment information to the consolidated balances for income from operations and total assets is set forth below (in millions):

Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
Segment income from operations$187.8 $508.1 $927.5 $1,541.6 
Impairment charges(0.2)— (5.3)— 
Loss on business held for sale
(3.2)— (497.8)— 
Corporate expenses(45.3)(59.5)(161.2)(146.6)
Amortization of intangibles(8.8)(14.4)(54.4)(43.3)
Stock compensation expense(5.0)(9.8)(20.4)(36.1)
Restructuring and business optimization expenses
(10.5)(0.8)(41.7)(8.3)
Consolidated income from operations
$114.8 $423.6 $146.7 $1,307.3 

September 30, 2024December 31, 2023
Segment assets$7,450.7 $7,170.7 
Cash and cash equivalents
622.6 595.5 
Investments in affiliates551.5 512.7 
Deferred tax assets, other current and noncurrent assets1,547.3 1,500.1 
Assets held for sale(1)
387.5 — 
Intangible assets, net588.8 308.8 
Goodwill2,358.4 1,333.4 
Consolidated total assets$13,506.8 $11,421.2 
____________________________________
(1) Represents non-segment assets related to the Company's G&P business, which the Company has classified as held for sale since June 30, 2024. Segment assets include the G&P assets held for sale. Refer to Note 3 for additional information.