REVENUES (Tables)

3 Months Ended

Mar. 31, 2024

REVENUES

Schedule of operating lease revenue

	First Quarter Ended
	March 31
(millions)	2024		2023
Operating lease revenue*		$133.2		$126.4

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)	2024		2023
Global Industrial
Product and sold equipment		$1,612.5		$1,592.3
Service and lease equipment		226.7		216.8
Global Institutional & Specialty
Product and sold equipment		1,021.4		920.8
Service and lease equipment		245.3		208.0
Global Healthcare & Life Sciences
Product and sold equipment		352.6		352.6
Service and lease equipment		27.3		27.1
Global Pest Elimination
Product and sold equipment		-		-
Service and lease equipment		266.1		243.4
Corporate
Product and sold equipment		-		10.6
Service and lease equipment		-		-
Total
Total product and sold equipment		$2,986.5		$2,876.3
Total service and lease equipment		$765.4		$695.3

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

	Global				Global Institutional				Global Healthcare				Global Pest
	Industrial				& Specialty				& Life Sciences				Elimination				Corporate
	2024		2023		2024		2023		2024		2023		2024		2023		2024		2023
United States		$793.8		$793.0		$883.2		$786.0		$149.8		$162.5		$181.7		$165.9		$-		$9.6
Europe		374.6		377.4		160.5		146.5		184.5		174.4		43.2		38.7		-		0.7
Asia Pacific		230.7		228.4		59.3		56.8		23.4		19.6		7.6		6.9		-		-
Latin America		189.6		158.2		49.9		41.3		5.5		5.7		14.5		13.6		-		0.3
Greater China		97.7		96.9		44.7		35.6		9.4		10.8		14.7		14.0		-		-
India, Middle East and Africa		99.2		104.4		15.5		14.7		5.4		5.3		1.7		1.9		-		-
Canada		53.6		50.8		53.6		47.9		1.9		1.4		2.7		2.4		-		-
Total		$1,839.2		$1,809.1		$1,266.7		$1,128.8		$379.9		$379.7		$266.1		$243.4		$-		$10.6

Summarized activity in the allowance for doubtful accounts

	First Quarter Ended
	March 31
(millions)	2024		2023
Beginning balance		$77.3		$71.9
Bad debt expense		13.2		14.7
Write-offs		(10.6)		(7.9)
Other (a)		(0.9)		(1.3)
Ending balance		$79.0		$77.4

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

Schedule of contract liability

	First Quarter Ended
	March 31
(millions)	2024		2023
Contract liability as of beginning of the year		$110.9		$116.5
Revenue recognized in the period from:
Amounts included in the contract liability at the beginning of the year		(110.9)		(116.5)
Increases due to billings excluding amounts recognized as revenue during the period ended		118.0		107.5
Contract liability as of end of period		$118.0		$107.5