Revenue Recognition (Tables)

3 Months Ended

Mar. 31, 2023

Revenue from Contract with Customer [Abstract]

In the following table, revenue is disaggregated by type of good or service, primary geographical market, and timing of recognition for each reportable segment. The table also includes a reconciliation of the disaggregated revenue to total revenue of each reportable segment.


	Three Months Ended				Three Months Ended
	March 31, 2023				March 31, 2022
(In millions)	FoodTech		AeroTech		FoodTech		AeroTech
Type of Good or Service
Recurring (1)	$	219.3	$	54.5	$	174.2	$	48.7
Non-recurring (1)	169.2		86.5		182.1		64.2
Total	388.5		141.0		356.3		112.9

Geographical Region (2)
North America	240.6		127.3		210.3		104.1
Europe, Middle East and Africa	95.2		7.2		89.4		5.3
Asia Pacific	29.8		4.9		36.0		2.7
Latin America	22.9		1.6		20.6		0.8
Total	388.5		141.0		356.3		112.9

Timing of Recognition
Point in Time	201.8		69.4		171.9		49.6
Over Time	186.7		71.6		184.4		63.3
Total	388.5		141.0		356.3		112.9

(1) Aftermarket parts and services and revenue from lease and long-term service contracts are considered recurring revenue. Non-recurring revenue includes new equipment and installation.

(2) Geographical region represents the region in which the end customer resides.

Contract with Customer, Asset and Liability

Contract asset and liability balances for the period were as follows:


	Balances as of
(In millions)	March 31, 2023		December 31, 2022
Contract Assets	$	96.4	$	89.6
Contract Liabilities	209.8		182.1

	Balances as of
	March 31, 2022		December 31, 2021
Contract Assets	104.0		94.4
Contract Liabilities	207.1		178.0