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v3.25.1

Revenue | 6 Months Ended
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May 02, 2025
Revenue from Contract with Customer [Abstract] |
Revenue |
4 | Revenue
The following tables disaggregate the company's reportable segment net sales by major product type and geographic market (dollars in millions):
Three Months Ended May 2, 2025 |  | Professional |  | Residential |  | Other |  | Total
Revenue by product type: |  |  |  |  |  |  |  |
Equipment |  | $ | 892.3 |  |  | $ | 296.9 |  |  | $ | 4.9 |  |  | $ | 1,194.1 |
Irrigation |  | 121.8 |  |  | 0.5 |  |  | 1.5 |  |  | 123.8 |
Total net sales |  | $ | 1,014.1 |  |  | $ | 297.4 |  |  | $ | 6.4 |  |  | $ | 1,317.9 |
Revenue by geographic market: |  |  |  |  |  |  |  |
United States |  | $ | 795.6 |  |  | $ | 260.3 |  |  | $ | 6.4 |  |  | $ | 1,062.3 |
International countries |  | 218.5 |  |  | 37.1 |  |  | — |  |  | 255.6 |
Total net sales |  | $ | 1,014.1 |  |  | $ | 297.4 |  |  | $ | 6.4 |  |  | $ | 1,317.9 |
Six Months Ended May 2, 2025 |  | Professional |  | Residential |  | Other |  | Total
Revenue by product type: |  |  |  |  |  |  |  |
Equipment |  | $ | 1,554.2 |  |  | $ | 517.0 |  |  | $ | 9.1 |  |  | $ | 2,080.3 |
Irrigation |  | 228.7 |  |  | 1.4 |  |  | 2.5 |  |  | 232.6 |
Total net sales |  | $ | 1,782.9 |  |  | $ | 518.4 |  |  | $ | 11.6 |  |  | $ | 2,312.9 |
Revenue by geographic market: |  |  |  |  |  |  |  |
United States |  | $ | 1,380.6 |  |  | $ | 453.7 |  |  | $ | 11.6 |  |  | $ | 1,845.9 |
International countries |  | 402.3 |  |  | 64.7 |  |  | — |  |  | 467.0 |
Total net sales |  | $ | 1,782.9 |  |  | $ | 518.4 |  |  | $ | 11.6 |  |  | $ | 2,312.9 |
Three Months Ended May 3, 2024 |  | Professional |  | Residential |  | Other |  | Total
Revenue by product type: |  |  |  |  |  |  |  |
Equipment |  | $ | 880.5 |  |  | $ | 330.2 |  |  | $ | 5.8 |  |  | $ | 1,216.5 |
Irrigation |  | 125.1 |  |  | 5.4 |  |  | 2.0 |  |  | 132.5 |
Total net sales |  | $ | 1,005.6 |  |  | $ | 335.6 |  |  | $ | 7.8 |  |  | $ | 1,349.0 |
Revenue by geographic market: |  |  |  |  |  |  |  |
United States |  | $ | 774.7 |  |  | $ | 298.3 |  |  | $ | 7.8 |  |  | $ | 1,080.8 |
International countries |  | 230.9 |  |  | 37.3 |  |  | — |  |  | 268.2 |
Total net sales |  | $ | 1,005.6 |  |  | $ | 335.6 |  |  | $ | 7.8 |  |  | $ | 1,349.0 |
Six Months Ended May 3, 2024 |  | Professional |  | Residential |  | Other |  | Total
Revenue by product type: |  |  |  |  |  |  |  |
Equipment |  | $ | 1,527.5 |  |  | $ | 562.1 |  |  | $ | 10.4 |  |  | $ | 2,100.0 |
Irrigation |  | 234.6 |  |  | 13.6 |  |  | 2.7 |  |  | 250.9 |
Total net sales |  | $ | 1,762.1 |  |  | $ | 575.7 |  |  | $ | 13.1 |  |  | $ | 2,350.9 |
Revenue by geographic market: |  |  |  |  |  |  |  |
United States |  | $ | 1,360.8 |  |  | $ | 503.8 |  |  | $ | 13.1 |  |  | $ | 1,877.7 |
International countries |  | 401.3 |  |  | 71.9 |  |  | — |  |  | 473.2 |
Total net sales |  | $ | 1,762.1 |  |  | $ | 575.7 |  |  | $ | 13.1 |  |  | $ | 2,350.9 |
Contract Liabilities Contract liabilities relate to deferred revenue recognized for cash consideration received at contract inception in advance of the company's performance under the respective contract and generally relate to the sale of separately priced extended warranty contracts, service contracts, and non-refundable customer deposits. The company recognizes revenue over the term of the contract in proportion to the costs expected to be incurred in satisfying the performance obligations under the separately priced extended warranty and service contracts. For non-refundable customer deposits, the company recognizes revenue as of the point in time in which the performance obligation has been satisfied under the contract with the customer, which typically occurs upon change in control at the time a product is shipped. As of May 2, 2025 and October 31, 2024, $29.6 million and $29.6 million, respectively, of deferred revenue associated with outstanding separately priced extended warranty contracts, service contracts, and non-refundable customer deposits was reported within accrued liabilities and other long-term liabilities in the Condensed Consolidated Balance Sheets. For the three and six months ended May 2, 2025, the company recognized $5.3 million and $8.5 million, respectively, of the October 31, 2024 deferred revenue balance within net sales in the Condensed Consolidated Statements of Earnings. The company expects to recognize approximately $5.6 million of the October 31, 2024 deferred revenue amount within net sales throughout the remainder of fiscal 2025, $8.0 million in fiscal 2026, and $7.5 million thereafter.

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-9 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -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 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-15 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-13 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org/606/tableOfContent + Details
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