REVENUE

6 Months Ended

Jun. 30, 2025

Revenue from Contract with Customer [Abstract]

REVENUE

(3) REVENUE

The Company recognizes revenue from the sale of manufactured products and services when control of promised goods or services are transferred to customers in an amount that reflects the consideration the Company expects to be entitled to receive in exchange for those goods or services.

Disaggregation of Revenues

The following table disaggregates revenue by business segment, product and service offering and timing of transfer of control:

	Three months ended June 30, 2025
	Americas		Asia Pacific		Europe, Middle East, & Africa		Total
Sales by Product and Service Offering:
Products	$	1,320.8	$	424.0	$	374.1	$	2,118.9
Services & spares	281.5		136.2		101.5		519.2
Total	$	1,602.3	$	560.2	$	475.6	$	2,638.1
Timing of Revenue Recognition:
Products and services transferred at a point in time	$	1,356.4	$	425.2	$	346.2	$	2,127.8
Products and services transferred over time	245.9		135.0		129.4		510.3
Total	$	1,602.3	$	560.2	$	475.6	$	2,638.1

	Three months ended June 30, 2024
	Americas		Asia Pacific		Europe, Middle East, & Africa		Total
Sales by Product and Service Offering:
Products	$	892.1	$	293.1	$	332.1	$	1,517.3
Services & spares	229.0		116.0		90.5		435.5
Total	$	1,121.1	$	409.1	$	422.6	$	1,952.8
Timing of Revenue Recognition:
Products and services transferred at a point in time	$	872.3	$	287.8	$	238.8	$	1,398.9
Products and services transferred over time	248.8		121.3		183.8		553.9
Total	$	1,121.1	$	409.1	$	422.6	$	1,952.8

	Six months ended June 30, 2025
	Americas		Asia Pacific		Europe, Middle East, & Africa		Total
Sales by Product and Service Offering:
Products	$	2,279.1	$	757.8	$	693.1	$	3,730.0
Services & spares	508.5		249.6		186.0		944.1
Total	$	2,787.6	$	1,007.4	$	879.1	$	4,674.1
Timing of Revenue Recognition:
Products and services transferred at a point in time	$	2,330.1	$	761.3	$	641.4	$	3,732.8
Products and services transferred over time	457.5		246.1		237.7		941.3
Total	$	2,787.6	$	1,007.4	$	879.1	$	4,674.1

	Six months ended June 30, 2024
	Americas		Asia Pacific		Europe, Middle East, & Africa		Total
Sales by Product and Service Offering:
Products	$	1,608.2	$	517.1	$	629.4	$	2,754.7
Services & spares	437.9		224.3		175.0		837.2
Total	$	2,046.1	$	741.4	$	804.4	$	3,591.9
Timing of Revenue Recognition:
Products and services transferred at a point in time	$	1,554.3	$	513.2	$	444.9	$	2,512.4
Products and services transferred over time	491.8		228.2		359.5		1,079.5
Total	$	2,046.1	$	741.4	$	804.4	$	3,591.9

The opening and closing balances of current and long-term deferred revenue as of June 30, 2025 and December 31, 2024 were as follows:

	Balances at June 30, 2025		Balances at December 31, 2024
Deferred revenue - current	$	1,257.3	$	1,063.3
Deferred revenue - noncurrent(1)	106.4		91.3

(1)    Noncurrent deferred revenue is recorded within “Other long-term liabilities” on the Unaudited Condensed Consolidated Balance Sheets.

The amount of deferred revenue - current recognized for the three and six months ended June 30, 2025 was $361.3 and $564.5. Deferred revenue - noncurrent consists primarily of maintenance, extended warranty and other service contracts. The Company expects to recognize noncurrent deferred revenue of $54.5, $30.6 and $21.3 in the next 13 to 24 months, the next 25 to 36 months, and thereafter, respectively.