REVENUES (Tables)

9 Months Ended

Sep. 30, 2023

REVENUES

Schedule of operating lease revenue

	Third Quarter Ended				Nine Months Ended
	September 30				September 30
(millions)	2023		2022		2023		2022
Operating lease revenue*		$128.4		$118.1		$383.5		$345.4

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

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

	Third Quarter Ended				Nine Months Ended
	September 30				September 30
(millions)	2023		2022		2023		2022
Global Industrial
Product and sold equipment		$1,614.0		$1,551.8		$4,700.0		$4,381.6
Service and lease equipment		227.8		217.8		659.7		643.6
Global Institutional & Specialty
Product and sold equipment		1,071.8		966.9		3,039.8		2,730.2
Service and lease equipment		241.2		199.1		674.2		574.5
Global Healthcare & Life Sciences
Product and sold equipment		378.5		329.5		1,095.0		1,023.7
Service and lease equipment		27.7		27.1		81.7		86.6
Other
Product and sold equipment		91.6		87.1		261.8		242.1
Service and lease equipment		290.5		262.3		814.2		737.9
Corporate
Product and sold equipment		15.0		27.7		55.4		96.3
Service and lease equipment		-		-		-		0.1
Total
Total product and sold equipment		$3,170.9		$2,963.0		$9,152.0		$8,473.9
Total service and lease equipment		$787.2		$706.3		$2,229.8		$2,042.7

Net sales at public exchange rates by geographic region for the third quarter ended September 30 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		$832.1		$836.4		$963.5		$860.5		$170.3		$146.5		$244.9		$227.1		$12.8		$24.8
Europe		385.8		350.3		183.8		162.8		186.5		163.0		81.2		70.0		0.5		0.7
Asia Pacific		218.4		207.2		58.3		53.5		25.5		23.1		21.5		19.6		1.0		1.1
Latin America		193.2		160.6		49.4		40.8		6.8		6.4		14.9		12.9		0.7		1.1
Greater China		95.5		101.0		40.9		33.5		11.5		12.8		17.2		17.1		-		-
India, Middle East and Africa		116.8		114.1		17.1		14.9		5.6		4.8		2.4		2.7		-		-
Total		$1,841.8		$1,769.6		$1,313.0		$1,166.0		$406.2		$356.6		$382.1		$349.4		$15.0		$27.7

Net sales at public exchange rates by geographic region for the nine months ended September 30 are as follows:

	Global				Global Institutional				Global Healthcare
	Industrial				& Specialty				& Life Sciences				Other				Corporate
(millions)	2023		2022		2023		2022		2023		2022		2023		2022		2023		2022
North America		$2,437.5		$2,329.6		$2,731.2		$2,420.6		$490.6		$449.1		$687.5		$623.7		$45.9		$84.5
Europe		1,117.0		1,005.1		505.0		463.8		547.0		513.8		222.5		201.8		2.5		2.2
Asia Pacific		654.9		621.3		173.5		159.2		67.8		67.5		64.7		55.8		2.8		3.2
Latin America		531.4		453.0		138.3		119.1		19.1		17.6		42.7		39.0		4.2		6.2
Greater China		291.1		317.7		117.0		102.4		35.2		44.6		51.5		51.7		-		0.1
India, Middle East and Africa		327.8		298.5		49.0		39.6		17.0		17.7		7.1		8.0		-		0.2
Total		$5,359.7		$5,025.2		$3,714.0		$3,304.7		$1,176.7		$1,110.3		$1,076.0		$980.0		$55.4		$96.4

Summarized activity in the allowance for doubtful accounts

	Nine Months Ended
	September 30
(millions)	2023		2022
Beginning balance		$71.9		$52.8
Bad debt expense		44.2		26.8
Write-offs		(32.6)		(12.8)
Other (a)		(0.8)		2.1
Ending balance		$82.7		$68.9

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

Schedule of contract liability

	Nine Months Ended
	September 30
(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		105.5		109.1
Contract liability as of end of period		$105.5		$109.1