REVENUES (Tables)

3 Months Ended

Mar. 31, 2023

REVENUES

Schedule of operating lease revenue

	First Quarter Ended
	March 31
(millions)	2023		2022
Operating lease revenue*		$126.4		$112.1

Schedule of principal activities, separated by reportable segments and geographic region

Net sales at public exchange rates by reportable segment are as follows:

	First Quarter Ended
	March 31
(millions)	2023		2022
Global Industrial
Product and sold equipment		$1,498.2		$1,358.4
Service and lease equipment		211.2		207.3
Global Institutional & Specialty
Product and sold equipment		920.8		827.0
Service and lease equipment		208.0		182.4
Global Healthcare & Life Sciences
Product and sold equipment		352.6		334.0
Service and lease equipment		27.1		28.8
Other
Product and sold equipment		81.0		70.0
Service and lease equipment		249.0		224.0
Corporate
Product and sold equipment		23.7		34.7
Service and lease equipment		-		0.1
Total
Total product and sold equipment		$2,876.3		$2,624.1
Total service and lease equipment		$695.3		$642.6

Net sales at public exchange rates by geographic region for the first quarter ended March 31 are as follows:

	Global				Global Institutional				Global Healthcare
	Industrial				& Specialty				& Life Sciences				Other				Corporate
	2023		2022		2023		2022		2023		2022		2023		2022		2023		2022
North America		$790.7		$716.6		$833.9		$732.0		$163.9		$145.0		$210.3		$181.7		$20.7		$29.4
Europe		348.8		313.5		146.5		136.7		174.4		170.1		67.2		62.1		0.7		0.6
Asia Pacific		214.3		205.1		56.8		52.7		19.7		20.0		20.2		16.6		1.0		1.0
Latin America		157.2		136.4		41.3		36.8		5.7		5.9		13.6		13.0		1.3		3.5
Greater China		94.6		110.2		35.6		40.2		10.8		14.8		16.3		17.9		-		0.1
India, Middle East and Africa		103.8		83.9		14.7		11.0		5.2		7.0		2.4		2.7		-		0.2
Total		$1,709.4		$1,565.7		$1,128.8		$1,009.4		$379.7		$362.8		$330.0		$294.0		$23.7		$34.8

Summarized activity in the allowance for doubtful accounts

	First Quarter Ended
	March 31
(millions)	2023		2022
Beginning balance		$71.9		$52.8
Bad debt expense		14.7		22.3
Write-offs		(7.9)		(4.0)
Other (a)		(1.3)		(1.6)
Ending balance		$77.4		$69.5

(a) Other amounts are primarily the effects of changes in currency translations.

Schedule of contract liability

	First Quarter Ended
	March 31
(millions)	2023		2022
Contract liability as of beginning of the year		$116.5		$91.7
Revenue recognized in the period from:
Amounts included in the contract liability at the beginning of the year		(116.5)		(91.7)
Increases due to billings excluding amounts recognized as revenue during the period ended		107.5		96.8
Contract liability as of end of period		$107.5		$96.8