v3.25.4
Sales
 12 Months Ended
Dec. 31, 2025
Revenue from Contract with Customer [Abstract]  
Sales
NOTE 13. SALES
Refer to a discussion of the Company’s significant accounting policies regarding sales in Note 2. Basis of Presentation and Summary of Significant Accounting Policies.
Contract Assets
In certain circumstances, contract assets are recorded which include unbilled amounts typically resulting from sales under contracts when revenue recognized exceeds the amount billed to the customer, and right to payment is subject to contractual performance obligations rather than subject only to the passage of time. Contract assets were $9.8 million and $8.0 million as of December 31, 2025 and 2024, respectively, and are included in Prepaid expenses and other current assets in the accompanying Consolidated Balance Sheets.
Contract Costs
The Company incurs direct incremental costs to obtain and fulfill certain contracts, typically costs associated with assets used by our customers in certain sales arrangements and sales-related commissions. As of December 31, 2025 and 2024, the Company had $106.6 million and $101.5 million, respectively, in revenue-related capitalized contract costs primarily related to assets used by the Company’s customers in certain software contracts, which are recorded in Prepaid expenses and other current assets, for the current portion, and Other assets, for the noncurrent portion, in the accompanying Consolidated Balance Sheets. These assets have estimated useful lives between 3 and 5 years and are amortized on a straight-line basis. Total expense related to net revenue-related capitalized contract costs was $43.1 million, $41.0 million and $41.0 million for the years ended December 31, 2025, 2024 and 2023, respectively.
Impairment losses recognized on our revenue-related capitalized contract costs were insignificant during the years ended December 31, 2025, 2024 and 2023.
Contract Liabilities
The Company’s contract liabilities consist of deferred revenue generally related to customer deposits, post contract support (“PCS”) and extended warranty sales. In these arrangements, the Company generally receives up-front payment and recognizes revenue over the support term of the contracts where applicable. Deferred revenue is classified as current or noncurrent based on the timing of when revenue is expected to be recognized and is included in Accrued expenses and other current liabilities and Other long-term liabilities, respectively, in the accompanying Consolidated Balance Sheets.
The Company’s contract liabilities consisted of the following as of December 31:
($ in millions)20252024
Deferred revenue, current$102.3 $139.2 
Deferred revenue, noncurrent57.8 58.9 
Total contract liabilities$160.1 $198.1 
During the year ended December 31, 2025, the Company recognized $108.6 million of revenue related to the Company’s contract liabilities at December 31, 2024. The change in contract liabilities from December 31, 2024 to December 31, 2025 was primarily due to the timing of cash receipts and sales of PCS and extended warranty services.
Remaining Performance Obligations
Remaining performance obligations represent the transaction price allocated to performance obligations which are unsatisfied as of the end of the period. The Company has excluded performance obligations with an original expected duration of one year or less and amounts for variable consideration allocated to wholly-unsatisfied performance obligations. Remaining performance obligations as of December 31, 2025 were $431.9 million, the majority of which are related to software-as-a-service and extended warranty and service contracts. The Company expects approximately 70 percent of the remaining performance obligations will be fulfilled within the next two years, 80 percent within the next three years, and 90 percent within four years.
Disaggregation of Revenue
Revenue from contracts with customers is disaggregated by sales of products and services and geographic location for each of the Company’s reportable segments, as it best depicts how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors.
Disaggregation of revenue was as follows for the year ended December 31, 2025:
($ in millions)Mobility TechnologiesRepair SolutionsEnvironmental & Fueling SolutionsEliminationsTotal
Sales:
Sales of products$873.7 $587.7 $1,293.5 $— $2,754.9 
Sales of services175.3 2.2 143.2 — 320.7 
Intersegment sales74.9 — — (74.9)— 
Total$1,123.9 $589.9 $1,436.7 $(74.9)$3,075.6 
Geographic:
North America (a)
$671.8 $589.9 $914.2 $— $2,175.9 
Europe, Middle East and Africa241.4 — 258.7 — 500.1 
Asia Pacific114.7 — 183.2 — 297.9 
Latin America21.1 — 80.6 — 101.7 
Intersegment sales74.9 — — (74.9)— 
Total$1,123.9 $589.9 $1,436.7 $(74.9)$3,075.6 
(a) Includes total sales in the United States of $2,112.4 million.
Disaggregation of revenue was as follows for the year ended December 31, 2024:
($ in millions)Mobility TechnologiesRepair SolutionsEnvironmental & Fueling SolutionsOtherEliminationsTotal
Sales:
Sales of products$823.4 $631.0 $1,213.1 $0.9 $— $2,668.4 
Sales of services161.1 2.4 146.7 0.4 — 310.6 
Intersegment sales30.0 — — — (30.0)— 
Total$1,014.5 $633.4 $1,359.8 $1.3 $(30.0)$2,979.0 
Geographic:
North America (a)
$648.2 $633.4 $843.9 $1.3 $— $2,126.8 
Europe, Middle East and Africa196.4 — 267.5 — — 463.9 
Asia Pacific115.8 — 163.2 — — 279.0 
Latin America24.1 — 85.2 — — 109.3 
Intersegment sales30.0 — — — (30.0)— 
Total$1,014.5 $633.4 $1,359.8 $1.3 $(30.0)$2,979.0 
(a) Includes total sales in the United States of $2,032.0 million.
Disaggregation of revenue was as follows for the year ended December 31, 2023:
($ in millions)Mobility TechnologiesRepair SolutionsEnvironmental & Fueling SolutionsOtherEliminationsTotal
Sales:
Sales of products$872.3 $649.1 $1,163.0 $93.7 $— $2,778.1 
Sales of services128.9 2.4 160.7 25.1 — 317.1 
Intersegment sales2.6 — — — (2.6)— 
Total$1,003.8 $651.5 $1,323.7 $118.8 $(2.6)$3,095.2 
Geographic:
North America (a)
$703.3 $651.5 $815.6 $117.2 $— $2,287.6 
Europe, Middle East and Africa157.5 — 268.3 — — 425.8 
Asia Pacific119.3 — 155.8 — — 275.1 
Latin America21.1 — 84.0 1.6 — 106.7 
Intersegment sales2.6 — — — (2.6)— 
Total$1,003.8 $651.5 $1,323.7 $118.8 $(2.6)$3,095.2 
(a) Includes total sales in the United States of $2,161.0 million.