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v3.25.2

Revenue (Tables) | 6 Months Ended
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Jun. 30, 2025
Revenue from Contract with Customer [Abstract] |
Schedule of Changes in Contract Liabilities | Significant changes in the balance of contract liabilities for the three and six months ended June 30, 2025 and 2024 were as follows (in millions):
| Three Months Ended June 30,
| 2025 |  | 2024
Balance at beginning of period | $ | 359.8 |  |  | $ | 321.5 |
Acquisitions | — |  |  | 21.0 |
Advance consideration received | 57.9 |  |  | 53.5 |
Revenue recognized during the period for extended warranty contracts, maintenance services and technology services | (57.1) |  |  | (45.0) |
Revenue recognized during the period related to grain storage and protein production systems | (0.5) |  |  | (7.5) |
Reclassified to held for sale(1) | — |  |  | (10.5) |
Foreign currency translation | 17.6 |  |  | (1.3) |
Balance at June 30 | $ | 377.7 |  |  | $ | 331.7 |
| Six Months Ended June 30,
| 2025 |  | 2024
Balance at beginning of period | $ | 341.5 |  |  | $ | 310.7 |
Acquisitions | — |  |  | 21.0 |
Advance consideration received | 105.5 |  |  | 106.0 |
Revenue recognized during the period for extended warranty contracts, maintenance services and technology services | (94.8) |  |  | (77.2) |
Revenue recognized during the period related to grain storage and protein production systems | (0.9) |  |  | (12.2) |
Reclassified to held for sale(1) | — |  |  | (10.5) |
Foreign currency translation | 26.4 |  |  | (6.1) |
Balance at June 30 | $ | 377.7 |  |  | $ | 331.7 |
__________________________________ (1) Reclassification resulting from the Company's classification of the majority of the G&P business as held for sale as of June 30, 2024. The Company divested the majority of its G&P business on November 1, 2024. Refer to Note 3 for additional information.
Schedule of Disaggregation of Revenue | Net sales for the three months ended June 30, 2025 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 |  | $ | 302.5 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 302.5 |  |  |
Canada |  | 91.4 |  |  | — |  |  | — |  |  | — |  |  | 91.4 |  |  |
Brazil |  | — |  |  | 222.8 |  |  | — |  |  | — |  |  | 222.8 |  |  |
Other South America |  | — |  |  | 78.8 |  |  | — |  |  | — |  |  | 78.8 |  |  |
Germany |  | — |  |  | — |  |  | 465.6 |  |  | — |  |  | 465.6 |  |  |
France |  | — |  |  | — |  |  | 316.5 |  |  | — |  |  | 316.5 |  |  |
United Kingdom and Ireland |  | — |  |  | — |  |  | 144.2 |  |  | — |  |  | 144.2 |  |  |
Finland and Scandinavia |  | — |  |  | — |  |  | 211.2 |  |  | — |  |  | 211.2 |  |  |
Italy |  | — |  |  | — |  |  | 108.3 |  |  | — |  |  | 108.3 |  |  |
Other Europe |  | — |  |  | — |  |  | 441.1 |  |  | — |  |  | 441.1 |  |  |
Middle East and Algeria |  | — |  |  | — |  |  | 88.0 |  |  | — |  |  | 88.0 |  |  |
Africa |  | — |  |  | — |  |  | — |  |  | 29.4 |  |  | 29.4 |  |  |
Asia |  | — |  |  | — |  |  | — |  |  | 50.6 |  |  | 50.6 |  |  |
Australia and New Zealand |  | — |  |  | — |  |  | — |  |  | 55.8 |  |  | 55.8 |  |  |
Mexico, Central America and Caribbean |  | 27.0 |  |  | 1.8 |  |  | — |  |  | — |  |  | 28.8 |  |  |
|  | $ | 420.9 |  |  | $ | 303.4 |  |  | $ | 1,774.9 |  |  | $ | 135.8 |  |  | $ | 2,635.0 |  |  |
Major products: |  |  |  |  |  |  |  |  |  |  |  |
Tractors |  | $ | 153.7 |  |  | $ | 195.4 |  |  | $ | 1,259.2 |  |  | $ | 89.9 |  |  | $ | 1,698.2 |  |  |
Replacement parts |  | 111.1 |  |  | 39.2 |  |  | 327.9 |  |  | 24.2 |  |  | 502.4 |  |  |
Grain storage and protein production systems |  | — |  |  | — |  |  | — |  |  | 0.2 |  |  | 0.2 |  |  |
Combines, application equipment and other machinery |  | 156.1 |  |  | 68.8 |  |  | 187.8 |  |  | 21.5 |  |  | 434.2 |  |  |
|  | $ | 420.9 |  |  | $ | 303.4 |  |  | $ | 1,774.9 |  |  | $ | 135.8 |  |  | $ | 2,635.0 |  |  |
Net sales for the three months ended June 30, 2024 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) |  | Total Segments |  | Other(2) |  | Consolidated
Primary geographical markets: |  |  |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 471.0 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 471.0 |  |  | $ | 178.2 |  |  | $ | 649.2 |
Canada |  | 124.2 |  |  | — |  |  | — |  |  | — |  |  | 124.2 |  |  | 27.7 |  |  | 151.9 |
Brazil |  | — |  |  | 228.9 |  |  | — |  |  | — |  |  | 228.9 |  |  | 27.3 |  |  | 256.2 |
Other South America |  | — |  |  | 84.1 |  |  | — |  |  | — |  |  | 84.1 |  |  | 4.5 |  |  | 88.6 |
Germany |  | — |  |  | — |  |  | 546.9 |  |  | — |  |  | 546.9 |  |  | 2.4 |  |  | 549.3 |
France |  | — |  |  | — |  |  | 390.5 |  |  | — |  |  | 390.5 |  |  | 2.8 |  |  | 393.3 |
United Kingdom and Ireland |  | — |  |  | — |  |  | 128.6 |  |  | — |  |  | 128.6 |  |  | 1.7 |  |  | 130.3 |
Finland and Scandinavia |  | — |  |  | — |  |  | 198.3 |  |  | — |  |  | 198.3 |  |  | 3.4 |  |  | 201.7 |
Italy |  | — |  |  | — |  |  | 95.0 |  |  | — |  |  | 95.0 |  |  | 7.8 |  |  | 102.8 |
Other Europe |  | — |  |  | — |  |  | 399.5 |  |  | — |  |  | 399.5 |  |  | 14.3 |  |  | 413.8 |
Middle East and Algeria |  | — |  |  | — |  |  | 110.8 |  |  | — |  |  | 110.8 |  |  | 1.0 |  |  | 111.8 |
Africa |  | — |  |  | — |  |  | — |  |  | 20.7 |  |  | 20.7 |  |  | 2.0 |  |  | 22.7 |
Asia |  | — |  |  | — |  |  | — |  |  | 52.9 |  |  | 52.9 |  |  | 9.4 |  |  | 62.3 |
Australia and New Zealand |  | — |  |  | — |  |  | — |  |  | 69.9 |  |  | 69.9 |  |  | 2.1 |  |  | 72.0 |
Mexico, Central America and Caribbean |  | 31.9 |  |  | 2.9 |  |  | — |  |  | — |  |  | 34.8 |  |  | 5.9 |  |  | 40.7 |
|  | $ | 627.2 |  |  | $ | 315.9 |  |  | $ | 1,869.5 |  |  | $ | 143.5 |  |  | $ | 2,956.1 |  |  | $ | 290.5 |  |  | $ | 3,246.6 |
Major products: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Tractors |  | $ | 226.9 |  |  | $ | 207.2 |  |  | $ | 1,365.0 |  |  | $ | 83.8 |  |  | $ | 1,882.9 |  |  | $ | — |  |  | $ | 1,882.9 |
Replacement parts |  | 117.7 |  |  | 39.6 |  |  | 307.2 |  |  | 23.5 |  |  | 488.0 |  |  | — |  |  | 488.0 |
Grain storage and protein production systems |  | — |  |  | — |  |  | — |  |  | 5.6 |  |  | 5.6 |  |  | 290.5 |  |  | 296.1 |
Combines, application equipment and other machinery |  | 282.6 |  |  | 69.1 |  |  | 197.4 |  |  | 30.5 |  |  | 579.6 |  |  | — |  |  | 579.6 |
|  | $ | 627.2 |  |  | $ | 315.9 |  |  | $ | 1,869.5 |  |  | $ | 143.5 |  |  | $ | 2,956.1 |  |  | $ | 290.5 |  |  | $ | 3,246.6 |
____________________________________ (1) Rounding may impact summation of amounts. (2) “Other” represents the results for the three months ended June 30, 2024 for the majority of the Company’s G&P business which was divested on November 1, 2024. The results of the G&P business through the date of the divestiture were previously included within our North America, South America, Europe/Middle East and Asia/Pacific/Africa segments. Net sales for the six months ended June 30, 2025 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 |  | $ | 595.3 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 595.3 |
Canada |  | 168.1 |  |  | — |  |  | — |  |  | — |  |  | 168.1 |
Brazil |  | — |  |  | 392.1 |  |  | — |  |  | — |  |  | 392.1 |
Other South America |  | — |  |  | 136.5 |  |  | — |  |  | — |  |  | 136.5 |
Germany |  | — |  |  | — |  |  | 759.5 |  |  | — |  |  | 759.5 |
France |  | — |  |  | — |  |  | 587.2 |  |  | — |  |  | 587.2 |
United Kingdom and Ireland |  | — |  |  | — |  |  | 252.2 |  |  | — |  |  | 252.2 |
Finland and Scandinavia |  | — |  |  | — |  |  | 383.1 |  |  | — |  |  | 383.1 |
Italy |  | — |  |  | — |  |  | 174.2 |  |  | — |  |  | 174.2 |
Other Europe |  | — |  |  | — |  |  | 787.9 |  |  | — |  |  | 787.9 |
Middle East and Algeria |  | — |  |  | — |  |  | 161.3 |  |  | — |  |  | 161.3 |
Africa |  | — |  |  | — |  |  | — |  |  | 44.7 |  |  | 44.7 |
Asia |  | — |  |  | — |  |  | — |  |  | 83.7 |  |  | 83.7 |
Australia and New Zealand |  | — |  |  | — |  |  | — |  |  | 101.9 |  |  | 101.9 |
Mexico, Central America and Caribbean |  | 53.1 |  |  | 4.7 |  |  | — |  |  | — |  |  | 57.8 |
|  | $ | 816.5 |  |  | $ | 533.3 |  |  | $ | 3,105.4 |  |  | $ | 230.3 |  |  | $ | 4,685.5 |
Major products: |  |  |  |  |  |  |  |  |  |
Tractors |  | $ | 294.7 |  |  | $ | 344.2 |  |  | $ | 2,169.5 |  |  | $ | 143.9 |  |  | $ | 2,952.3 |
Replacement parts |  | 199.5 |  |  | 76.4 |  |  | 612.2 |  |  | 46.9 |  |  | 935.0 |
Grain storage and protein production systems |  | — |  |  | — |  |  | — |  |  | 1.1 |  |  | 1.1 |
Combines, application equipment and other machinery |  | 322.3 |  |  | 112.7 |  |  | 323.7 |  |  | 38.4 |  |  | 797.1 |
|  | $ | 816.5 |  |  | $ | 533.3 |  |  | $ | 3,105.4 |  |  | $ | 230.3 |  |  | $ | 4,685.5 |
Net sales for the six months ended June 30, 2024 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) |  | Total Segments |  | Other(2) |  | Consolidated
Primary geographical markets: |  |  |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 953.5 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 953.5 |  |  | $ | 294.5 |  |  | $ | 1,248.0 |
Canada |  | 215.4 |  |  | — |  |  | — |  |  | — |  |  | 215.4 |  |  | 36.4 |  |  | 251.8 |
Brazil |  | — |  |  | 433.6 |  |  | — |  |  | — |  |  | 433.6 |  |  | 52.2 |  |  | 485.8 |
Other South America |  | — |  |  | 150.5 |  |  | — |  |  | — |  |  | 150.5 |  |  | 9.3 |  |  | 159.8 |
Germany |  | — |  |  | — |  |  | 1,052.3 |  |  | — |  |  | 1,052.3 |  |  | 8.3 |  |  | 1,060.6 |
France |  | — |  |  | — |  |  | 714.4 |  |  | — |  |  | 714.4 |  |  | 3.8 |  |  | 718.2 |
United Kingdom and Ireland |  | — |  |  | — |  |  | 266.3 |  |  | — |  |  | 266.3 |  |  | 2.4 |  |  | 268.7 |
Finland and Scandinavia |  | — |  |  | — |  |  | 360.3 |  |  | — |  |  | 360.3 |  |  | 4.5 |  |  | 364.8 |
Italy |  | — |  |  | — |  |  | 159.6 |  |  | — |  |  | 159.6 |  |  | 12.5 |  |  | 172.1 |
Other Europe |  | — |  |  | — |  |  | 752.2 |  |  | — |  |  | 752.2 |  |  | 22.2 |  |  | 774.4 |
Middle East and Algeria |  | — |  |  | — |  |  | 271.4 |  |  | — |  |  | 271.4 |  |  | 1.8 |  |  | 273.2 |
Africa |  | — |  |  | — |  |  | — |  |  | 39.5 |  |  | 39.5 |  |  | 6.6 |  |  | 46.1 |
Asia |  | — |  |  | — |  |  | — |  |  | 113.3 |  |  | 113.3 |  |  | 23.6 |  |  | 136.9 |
Australia and New Zealand |  | — |  |  | — |  |  | — |  |  | 138.3 |  |  | 138.3 |  |  | 2.4 |  |  | 140.7 |
Mexico, Central America and Caribbean |  | 59.3 |  |  | 4.8 |  |  | — |  |  | — |  |  | 64.1 |  |  | 10.1 |  |  | 74.2 |
|  | $ | 1,228.3 |  |  | $ | 588.9 |  |  | $ | 3,576.4 |  |  | $ | 291.1 |  |  | $ | 5,684.7 |  |  | $ | 490.6 |  |  | $ | 6,175.3 |
Major products: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Tractors |  | $ | 479.6 |  |  | $ | 380.1 |  |  | $ | 2,625.7 |  |  | $ | 174.7 |  |  | $ | 3,660.1 |  |  | $ | — |  |  | $ | 3,660.1 |
Replacement parts |  | 211.7 |  |  | 78.7 |  |  | 584.9 |  |  | 46.4 |  |  | 921.7 |  |  | — |  |  | 921.7 |
Grain storage and protein production systems |  | — |  |  | — |  |  | — |  |  | 10.7 |  |  | 10.7 |  |  | 490.6 |  |  | 501.3 |
Combines, application equipment and other machinery |  | 537.0 |  |  | 130.1 |  |  | 365.9 |  |  | 59.2 |  |  | 1,092.2 |  |  | — |  |  | 1,092.2 |
|  | $ | 1,228.3 |  |  | $ | 588.9 |  |  | $ | 3,576.4 |  |  | $ | 291.1 |  |  | $ | 5,684.7 |  |  | $ | 490.6 |  |  | $ | 6,175.3 |
____________________________________ (1) Rounding may impact summation of amounts. (2) “Other” represents the results for the six months ended June 30, 2024 for the majority of the Company’s G&P business which was divested on November 1, 2024. The results of the G&P business through the date of the divestiture were previously included within our North America, South America, Europe/Middle East and Asia/Pacific/Africa segments.

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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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