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Sales
 9 Months Ended
Sep. 29, 2023
Revenue from Contract with Customer [Abstract]  
Sales SALES
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 $7.1 million and $12.3 million as of September 29, 2023 and December 31, 2022, respectively, and are included in Prepaid expenses and other current assets in the accompanying Consolidated Condensed Balance Sheets.
Contract Costs
The Company incurs direct incremental costs to obtain certain contracts, typically costs associated with assets used by our customers in certain service arrangements and sales-related commissions. As of September 29, 2023 and December 31, 2022, the Company had $86.6 million and $88.6 million, respectively, in net revenue-related capitalized contract costs primarily related to assets used by the Company’s customers in certain software contracts, which are recorded in Prepaid expenses and other current assets, for the current portion, and Other assets, for the noncurrent portion, in the accompanying Consolidated Condensed Balance Sheets.
Contract Liabilities
The Company’s contract liabilities consist of deferred revenue generally related to customer deposits, post contract support (“PCS”) and extended warranty sales. In these arrangements, the Company generally receives up-front payment and recognizes revenue over the support term of the contracts where applicable. Deferred revenue is classified as current or noncurrent based on the timing of when revenue is expected to be recognized and is included in Accrued expenses and other current liabilities and Other long-term liabilities, respectively, in the accompanying Consolidated Condensed Balance Sheets.
The Company’s contract liabilities consisted of the following:
($ in millions)September 29, 2023December 31, 2022
Deferred revenue, current$140.0 $135.2 
Deferred revenue, noncurrent49.2 48.7 
Total contract liabilities$189.2 $183.9 
During the three and nine months ended September 29, 2023, the Company recognized $15.8 million and $96.4 million of revenue related to the Company’s contract liabilities at December 31, 2022, respectively. The change in contract liabilities from December 31, 2022 to September 29, 2023 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 of firm, noncancelable orders and the annual contract value for software-as-a-service contracts with an original duration greater than one year for which work has not been performed. The Company has excluded performance obligations with an original expected duration of one year or less. Remaining performance obligations as of September 29, 2023 were $397.4 million, the majority of which are related to the annual contract value for software-as-a-service contracts. The Company expects approximately 40 percent of the remaining performance obligations will be fulfilled within the next two years, 70 percent within the next three years, and substantially all within four years.
Disaggregation of Revenue
Revenue from contracts with customers is disaggregated by sales of products and services and geographic location for each of our reportable segments, as it best depicts how the nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factors.
Disaggregation of revenue was as follows for the three months ended September 29, 2023:
($ in millions)Mobility TechnologiesRepair SolutionsEnvironmental & Fueling SolutionsOtherTotal
Sales:
Sales of products$215.3 $159.5 $290.9 $20.1 $685.8 
Sales of services32.4 0.7 40.7 5.8 79.6 
Total$247.7 $160.2 $331.6 $25.9 $765.4 
Geographic:
North America (a)
$173.8 $160.2 $205.8 $25.6 $565.4 
Western Europe22.1 — 38.6 — 60.7 
High growth markets32.2 — 74.0 0.3 106.5 
Rest of world19.6 — 13.2 — 32.8 
Total$247.7 $160.2 $331.6 $25.9 $765.4 
(a) Includes total sales in the United States of $543.1 million.
Disaggregation of revenue was as follows for the three months ended September 30, 2022:
($ in millions)Mobility TechnologiesRepair SolutionsEnvironmental & Fueling SolutionsOtherTotal
Sales:
Sales of products$198.3 $152.2 $325.9 $31.3 $707.7 
Sales of services30.2 0.5 42.6 7.0 80.3 
Total$228.5 $152.7 $368.5 $38.3 $788.0 
Geographic:
North America (a)
$168.2 $152.7 $244.6 $37.7 $603.2 
Western Europe15.0 — 33.3 — 48.3 
High growth markets26.3 — 74.8 0.4 101.5 
Rest of world19.0 — 15.8 0.2 35.0 
Total$228.5 $152.7 $368.5 $38.3 $788.0 
(a) Includes total sales in the United States of $567.4 million.
Disaggregation of revenue was as follows for the nine months ended September 29, 2023:
($ in millions)Mobility TechnologiesRepair SolutionsEnvironmental & Fueling SolutionsOtherTotal
Sales:
Sales of products$637.6 $498.2 $859.0 $69.9 $2,064.7 
Sales of services94.8 1.8 125.7 19.2 241.5 
Total$732.4 $500.0 $984.7 $89.1 $2,306.2 
Geographic:
North America (a)
$508.8 $500.0 $611.2 $87.8 $1,707.8 
Western Europe66.1 — 121.7 — 187.8 
High growth markets97.8 — 210.5 1.3 309.6 
Rest of world59.7 — 41.3 — 101.0 
Total$732.4 $500.0 $984.7 $89.1 $2,306.2 
(a) Includes total sales in the United States of $1,613.4 million.
Disaggregation of revenue was as follows for the nine months ended September 30, 2022:
($ in millions)Mobility TechnologiesRepair SolutionsEnvironmental & Fueling SolutionsOtherTotal
Sales:
Sales of products$560.6 $465.1 $948.6 $106.2 $2,080.5 
Sales of services86.1 1.7 123.4 20.8 232.0 
Total$646.7 $466.8 $1,072.0 $127.0 $2,312.5 
Geographic:
North America (a)
$463.0 $466.8 $691.7 $125.0 $1,746.5 
Western Europe55.7 — 112.4 — 168.1 
High growth markets73.3 — 224.3 1.8 299.4 
Rest of world54.7 — 43.6 0.2 98.5 
Total$646.7 $466.8 $1,072.0 $127.0 $2,312.5 
(a) Includes total sales in the United States of $1,672.4 million.