XML 52 R36.htm IDEA: XBRL DOCUMENT v3.24.0.1

Revenue (Tables)

12 Months Ended

Dec. 31, 2023

Revenue from Contract with Customer [Abstract]

Schedule of Disaggregation of Revenue

The following tables illustrate the disaggregation of revenue by geographic area, groups of similar products and services and sales channels for the years ended December 31:

Net sales by geographic area

			2023						2022						2021
Americas			$	840.3					$	705.9					$	658.3
Europe, Middle East and Africa (EMEA)			314.4						301.6						331.9
Asia Pacific (APAC)			88.9						84.7						100.6
Total			$	1,243.6					$	1,092.2					$	1,090.8

Net sales are attributed to each geographic area based on the end user country and are net of intercompany sales.

Net sales by groups of similar products and services

			2023						2022						2021
Equipment			$	776.4					$	664.0					$	679.9
Parts and consumables			279.5						263.1						249.3
Specialty surface coatings(a)			—						—						1.5
Service and other			187.7						165.1						160.1
Total			$	1,243.6					$	1,092.2					$	1,090.8

(a)On February 1, 2021, we sold our Coatings business. Further details regarding the sale are discussed in Note 5.

Net sales by sales channel

			2023						2022						2021
Sales direct to consumer			$	854.4					$	712.6					$	692.4
Sales to distributors			389.2						379.6						398.4
Total			$	1,243.6					$	1,092.2					$	1,090.8

Schedule of Change in Sales Incentive Accrual Balance and Deferred Revenue Balance

The change in our sales incentive accrual balance for the years ended December 31, 2023 and 2022 was as follows:

			2023						2022
Beginning balance			$	20.0					$	19.9
Additions to sales incentive accrual			29.5						22.5
Contract payments			(28.5)						(21.8)
Foreign currency fluctuations			0.2						(0.6)
Ending balance			$	21.2					$	20.0

The change in the deferred revenue balance for the years ended December 31, 2023 and 2022 was as follows:

			2023						2022
Beginning balance			$	9.3					$	11.2
Increase in deferred revenue representing our obligation to satisfy future performance obligations			21.7						24.2
Decrease in deferred revenue for amounts recognized in net sales for satisfied performance obligations			(20.8)						(25.5)
Foreign currency fluctuations			0.1						(0.6)
Ending balance			$	10.3					$	9.3

Schedule of Recognition of Net Sales in Future Periods

Of this, we expect to recognize the following approximate amounts in net sales in the following periods:

2024			$	7.9
2025			1.2
2026			0.7
2027			0.3
2028			0.1
Thereafter			0.1
Total			$	10.3

X

- 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

Name:	us-gaap_ContractWithCustomerAssetAndLiabilityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-5

+ Details

Name:	us-gaap_DisaggregationOfRevenueTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_RevenueFromContractWithCustomerAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of expected timing for satisfying remaining performance obligation.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(1)
-SubTopic 10
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-13

+ Details

Name:	us-gaap_RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration