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v3.25.3

Revenue (Tables) | 9 Months Ended
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Sep. 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 nine months ended September 30, 2025 and 2024 were as follows (in millions):
| Three Months Ended September 30,
| 2025 |  | 2024
Balance at beginning of period | $ | 377.7 |  |  | $ | 331.7 |
Advance consideration received | 49.3 |  |  | 50.4 |
Revenue recognized during the period for extended warranty contracts, maintenance services and technology services | (47.5) |  |  | (40.0) |
Revenue recognized during the period related to grain storage and protein production systems | (0.1) |  |  | (4.0) |
Reclassified to held for sale(1) | — |  |  | (0.4) |
Foreign currency translation | (0.5) |  |  | 8.9 |
Balance at September 30 | $ | 378.9 |  |  | $ | 346.6 |
| Nine Months Ended September 30,
| 2025 |  | 2024
Balance at beginning of period | $ | 341.5 |  |  | $ | 310.7 |
Acquisitions | — |  |  | 21.0 |
Advance consideration received | 154.8 |  |  | 156.4 |
Revenue recognized during the period for extended warranty contracts, maintenance services and technology services | (142.3) |  |  | (117.2) |
Revenue recognized during the period related to grain storage and protein production systems | (1.0) |  |  | (16.2) |
Reclassified to held for sale(1) | — |  |  | (10.9) |
Foreign currency translation | 25.9 |  |  | 2.8 |
Balance at September 30 | $ | 378.9 |  |  | $ | 346.6 |
__________________________________ (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 September 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 |  | $ | 289.2 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 289.2 |  |  |
Canada |  | 70.7 |  |  | — |  |  | — |  |  | — |  |  | 70.7 |  |  |
Brazil |  | — |  |  | 241.9 |  |  | — |  |  | — |  |  | 241.9 |  |  |
Other South America |  | — |  |  | 77.2 |  |  | — |  |  | — |  |  | 77.2 |  |  |
Germany |  | — |  |  | — |  |  | 408.1 |  |  | — |  |  | 408.1 |  |  |
France |  | — |  |  | — |  |  | 304.4 |  |  | — |  |  | 304.4 |  |  |
United Kingdom and Ireland |  | — |  |  | — |  |  | 140.6 |  |  | — |  |  | 140.6 |  |  |
Finland and Scandinavia |  | — |  |  | — |  |  | 166.9 |  |  | — |  |  | 166.9 |  |  |
Italy |  | — |  |  | — |  |  | 119.6 |  |  | — |  |  | 119.6 |  |  |
Other Europe |  | — |  |  | — |  |  | 421.7 |  |  | — |  |  | 421.7 |  |  |
Middle East and Algeria |  | — |  |  | — |  |  | 52.5 |  |  | — |  |  | 52.5 |  |  |
Africa |  | — |  |  | — |  |  | — |  |  | 31.3 |  |  | 31.3 |  |  |
Asia |  | — |  |  | — |  |  | — |  |  | 31.6 |  |  | 31.6 |  |  |
Australia and New Zealand |  | — |  |  | — |  |  | — |  |  | 94.2 |  |  | 94.2 |  |  |
Mexico, Central America and Caribbean |  | 23.1 |  |  | 3.3 |  |  | — |  |  | — |  |  | 26.4 |  |  |
|  | $ | 383.0 |  |  | $ | 322.4 |  |  | $ | 1,613.8 |  |  | $ | 157.1 |  |  | $ | 2,476.3 |  |  |
Major products: |  |  |  |  |  |  |  |  |  |  |  |
Tractors |  | $ | 159.9 |  |  | $ | 217.7 |  |  | $ | 1,174.7 |  |  | $ | 98.3 |  |  | $ | 1,650.6 |  |  |
Replacement parts |  | 100.8 |  |  | 37.3 |  |  | 332.1 |  |  | 28.3 |  |  | 498.5 |  |  |
Grain storage and protein production systems |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  |
Combines, application equipment and other machinery |  | 122.3 |  |  | 67.4 |  |  | 107.0 |  |  | 30.5 |  |  | 327.2 |  |  |
|  | $ | 383.0 |  |  | $ | 322.4 |  |  | $ | 1,613.8 |  |  | $ | 157.1 |  |  | $ | 2,476.3 |  |  |
Net sales for the three months ended September 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 |  | $ | 435.7 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 435.7 |  |  | $ | 145.0 |  |  | $ | 580.7 |
Canada |  | 102.8 |  |  | — |  |  | — |  |  | — |  |  | 102.8 |  |  | 20.4 |  |  | 123.2 |
Brazil |  | — |  |  | 250.0 |  |  | — |  |  | — |  |  | 250.0 |  |  | 20.6 |  |  | 270.6 |
Other South America |  | — |  |  | 98.0 |  |  | — |  |  | — |  |  | 98.0 |  |  | 8.7 |  |  | 106.7 |
Germany |  | — |  |  | — |  |  | 292.6 |  |  | — |  |  | 292.6 |  |  | 1.9 |  |  | 294.5 |
France |  | — |  |  | — |  |  | 256.1 |  |  | — |  |  | 256.1 |  |  | 1.3 |  |  | 257.4 |
United Kingdom and Ireland |  | — |  |  | — |  |  | 124.3 |  |  | — |  |  | 124.3 |  |  | 2.2 |  |  | 126.5 |
Finland and Scandinavia |  | — |  |  | — |  |  | 165.9 |  |  | — |  |  | 165.9 |  |  | 2.2 |  |  | 168.1 |
Italy |  | — |  |  | — |  |  | 67.5 |  |  | — |  |  | 67.5 |  |  | 6.8 |  |  | 74.3 |
Other Europe |  | — |  |  | — |  |  | 299.7 |  |  | — |  |  | 299.7 |  |  | 15.7 |  |  | 315.4 |
Middle East and Algeria |  | — |  |  | — |  |  | 59.8 |  |  | — |  |  | 59.8 |  |  | 2.1 |  |  | 61.9 |
Africa |  | — |  |  | — |  |  | — |  |  | 25.6 |  |  | 25.6 |  |  | 3.3 |  |  | 28.9 |
Asia |  | — |  |  | — |  |  | — |  |  | 52.9 |  |  | 52.9 |  |  | 11.9 |  |  | 64.8 |
Australia and New Zealand |  | — |  |  | — |  |  | — |  |  | 88.4 |  |  | 88.4 |  |  | 1.3 |  |  | 89.7 |
Mexico, Central America and Caribbean |  | 26.0 |  |  | 2.8 |  |  | — |  |  | — |  |  | 28.8 |  |  | 7.8 |  |  | 36.6 |
|  | $ | 564.4 |  |  | $ | 350.8 |  |  | $ | 1,266.0 |  |  | $ | 166.9 |  |  | $ | 2,348.1 |  |  | $ | 251.2 |  |  | $ | 2,599.3 |
Major products: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Tractors |  | $ | 238.4 |  |  | $ | 224.0 |  |  | $ | 842.8 |  |  | $ | 99.3 |  |  | $ | 1,404.5 |  |  | $ | — |  |  | $ | 1,404.5 |
Replacement parts |  | 109.6 |  |  | 40.6 |  |  | 311.1 |  |  | 27.0 |  |  | 488.3 |  |  | — |  |  | 488.3 |
Grain storage and protein production systems |  | — |  |  | — |  |  | — |  |  | 4.3 |  |  | 4.3 |  |  | 251.2 |  |  | 255.5 |
Combines, application equipment and other machinery |  | 216.4 |  |  | 86.2 |  |  | 112.0 |  |  | 36.4 |  |  | 451.0 |  |  | — |  |  | 451.0 |
|  | $ | 564.4 |  |  | $ | 350.8 |  |  | $ | 1,266.0 |  |  | $ | 166.9 |  |  | $ | 2,348.1 |  |  | $ | 251.2 |  |  | $ | 2,599.3 |
____________________________________ (1) Rounding may impact summation of amounts. (2) “Other” represents the results for the three months ended September 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 nine months ended September 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 |  | $ | 884.5 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 884.5 |
Canada |  | 238.8 |  |  | — |  |  | — |  |  | — |  |  | 238.8 |
Brazil |  | — |  |  | 634.0 |  |  | — |  |  | — |  |  | 634.0 |
Other South America |  | — |  |  | 213.7 |  |  | — |  |  | — |  |  | 213.7 |
Germany |  | — |  |  | — |  |  | 1,167.6 |  |  | — |  |  | 1,167.6 |
France |  | — |  |  | — |  |  | 891.6 |  |  | — |  |  | 891.6 |
United Kingdom and Ireland |  | — |  |  | — |  |  | 392.8 |  |  | — |  |  | 392.8 |
Finland and Scandinavia |  | — |  |  | — |  |  | 550.0 |  |  | — |  |  | 550.0 |
Italy |  | — |  |  | — |  |  | 293.8 |  |  | — |  |  | 293.8 |
Other Europe |  | — |  |  | — |  |  | 1,209.6 |  |  | — |  |  | 1,209.6 |
Middle East and Algeria |  | — |  |  | — |  |  | 213.8 |  |  | — |  |  | 213.8 |
Africa |  | — |  |  | — |  |  | — |  |  | 76.0 |  |  | 76.0 |
Asia |  | — |  |  | — |  |  | — |  |  | 115.3 |  |  | 115.3 |
Australia and New Zealand |  | — |  |  | — |  |  | — |  |  | 196.1 |  |  | 196.1 |
Mexico, Central America and Caribbean |  | 76.2 |  |  | 8.0 |  |  | — |  |  | — |  |  | 84.2 |
|  | $ | 1,199.5 |  |  | $ | 855.7 |  |  | $ | 4,719.2 |  |  | $ | 387.4 |  |  | $ | 7,161.8 |
Major products: |  |  |  |  |  |  |  |  |  |
Tractors |  | $ | 454.6 |  |  | $ | 561.9 |  |  | $ | 3,344.2 |  |  | $ | 242.2 |  |  | $ | 4,602.9 |
Replacement parts |  | 300.3 |  |  | 113.7 |  |  | 944.3 |  |  | 75.2 |  |  | 1,433.5 |
Grain storage and protein production systems |  | — |  |  | — |  |  | — |  |  | 1.1 |  |  | 1.1 |
Combines, application equipment and other machinery |  | 444.6 |  |  | 180.1 |  |  | 430.7 |  |  | 68.9 |  |  | 1,124.3 |
|  | $ | 1,199.5 |  |  | $ | 855.7 |  |  | $ | 4,719.2 |  |  | $ | 387.4 |  |  | $ | 7,161.8 |
Net sales for the nine months ended September 30, 2024 disaggregated by primary geographical markets and major products consisted of the following (in millions):
|  | North America |  | South America |  | Europe/Middle East |  | Asia/Pacific/Africa |  | Total Segments |  | Other(1) |  | Consolidated
Primary geographical markets: |  |  |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 1,389.2 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 1,389.2 |  |  | $ | 439.5 |  |  | $ | 1,828.7 |
Canada |  | 318.2 |  |  | — |  |  | — |  |  | — |  |  | 318.2 |  |  | 56.8 |  |  | 375.0 |
Brazil |  | — |  |  | 683.6 |  |  | — |  |  | — |  |  | 683.6 |  |  | 72.8 |  |  | 756.4 |
Other South America |  | — |  |  | 248.5 |  |  | — |  |  | — |  |  | 248.5 |  |  | 18.0 |  |  | 266.5 |
Germany |  | — |  |  | — |  |  | 1,344.9 |  |  | — |  |  | 1,344.9 |  |  | 10.2 |  |  | 1,355.1 |
France |  | — |  |  | — |  |  | 970.5 |  |  | — |  |  | 970.5 |  |  | 5.1 |  |  | 975.6 |
United Kingdom and Ireland |  | — |  |  | — |  |  | 390.6 |  |  | — |  |  | 390.6 |  |  | 4.6 |  |  | 395.2 |
Finland and Scandinavia |  | — |  |  | — |  |  | 526.2 |  |  | — |  |  | 526.2 |  |  | 6.7 |  |  | 532.9 |
Italy |  | — |  |  | — |  |  | 227.1 |  |  | — |  |  | 227.1 |  |  | 19.3 |  |  | 246.4 |
Other Europe |  | — |  |  | — |  |  | 1,051.9 |  |  | — |  |  | 1,051.9 |  |  | 37.9 |  |  | 1,089.8 |
Middle East and Algeria |  | — |  |  | — |  |  | 331.2 |  |  | — |  |  | 331.2 |  |  | 3.9 |  |  | 335.1 |
Africa |  | — |  |  | — |  |  | — |  |  | 65.1 |  |  | 65.1 |  |  | 9.9 |  |  | 75.0 |
Asia |  | — |  |  | — |  |  | — |  |  | 166.2 |  |  | 166.2 |  |  | 35.5 |  |  | 201.7 |
Australia and New Zealand |  | — |  |  | — |  |  | — |  |  | 226.7 |  |  | 226.7 |  |  | 3.7 |  |  | 230.4 |
Mexico, Central America and Caribbean |  | 85.3 |  |  | 7.6 |  |  | — |  |  | — |  |  | 92.9 |  |  | 17.9 |  |  | 110.8 |
|  | $ | 1,792.7 |  |  | $ | 939.7 |  |  | $ | 4,842.4 |  |  | $ | 458.0 |  |  | $ | 8,032.8 |  |  | $ | 741.8 |  |  | $ | 8,774.6 |
Major products: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Tractors |  | $ | 718.0 |  |  | $ | 604.1 |  |  | $ | 3,468.5 |  |  | $ | 274.0 |  |  | $ | 5,064.6 |  |  | $ | — |  |  | $ | 5,064.6 |
Replacement parts |  | 321.3 |  |  | 119.3 |  |  | 896.0 |  |  | 73.4 |  |  | 1,410.0 |  |  | — |  |  | 1,410.0 |
Grain storage and protein production systems |  | — |  |  | — |  |  | — |  |  | 15.0 |  |  | 15.0 |  |  | 741.8 |  |  | 756.8 |
Combines, application equipment and other machinery |  | 753.4 |  |  | 216.3 |  |  | 477.9 |  |  | 95.6 |  |  | 1,543.2 |  |  | — |  |  | 1,543.2 |
|  | $ | 1,792.7 |  |  | $ | 939.7 |  |  | $ | 4,842.4 |  |  | $ | 458.0 |  |  | $ | 8,032.8 |  |  | $ | 741.8 |  |  | $ | 8,774.6 |
____________________________________ (1) “Other” represents the results for the nine months ended September 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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