Revenue

6 Months Ended

May 03, 2024

Revenue from Contract with Customer [Abstract]

Revenue

3 Revenue

The following tables disaggregate the company's reportable segment net sales by major product type and geographic market (dollars in millions):

Three Months Ended May 3, 2024	Professional		Residential		Other		Total
Revenue by product type:
Equipment	$	880.5	$	330.2	$	5.8	$	1,216.5
Irrigation	125.1		5.4		2.0		132.5
Total net sales	$	1,005.6	$	335.6	$	7.8	$	1,349.0
Revenue by geographic market:
United States	$	774.7	$	298.3	$	7.8	$	1,080.8
International countries	230.9		37.3		—		268.2
Total net sales	$	1,005.6	$	335.6	$	7.8	$	1,349.0

Six Months Ended May 3, 2024	Professional		Residential		Other		Total
Revenue by product type:
Equipment	$	1,527.5	$	562.1	$	10.4	$	2,100.0
Irrigation	234.6		13.6		2.7		250.9
Total net sales	$	1,762.1	$	575.7	$	13.1	$	2,350.9
Revenue by geographic market:
United States	$	1,360.8	$	503.8	$	13.1	$	1,877.7
International countries	401.3		71.9		—		473.2
Total net sales	$	1,762.1	$	575.7	$	13.1	$	2,350.9

Three Months Ended May 5, 2023	Professional		Residential		Other		Total
Revenue by product type:
Equipment	$	931.4	$	260.2	$	3.9	$	1,195.5
Irrigation	137.3		5.6		0.9		143.8
Total net sales	$	1,068.7	$	265.8	$	4.8	$	1,339.3
Revenue by geographic market:
United States	$	838.2	$	220.0	$	4.8	$	1,063.0
International countries	230.5		45.8		—		276.3
Total net sales	$	1,068.7	$	265.8	$	4.8	$	1,339.3

Six Months Ended May 5, 2023	Professional		Residential		Other		Total
Revenue by product type:
Equipment	$	1,709.7	$	513.7	$	6.3	$	2,229.7
Irrigation	239.7		16.8		2.0		258.5
Total net sales	$	1,949.4	$	530.5	$	8.3	$	2,488.2
Revenue by geographic market:
United States	$	1,534.7	$	423.5	$	8.3	$	1,966.5
International countries	414.7		107.0		—		521.7
Total net sales	$	1,949.4	$	530.5	$	8.3	$	2,488.2

Contract Liabilities

Contract liabilities relate to deferred revenue recognized for cash consideration received at contract inception in advance of the company's performance under the respective contract and generally relate to the sale of separately priced extended warranty contracts, service contracts, and non-refundable customer deposits. The company recognizes revenue over the term of the contract in proportion to the costs expected to be incurred in satisfying the performance obligations under the separately priced extended warranty and service contracts. For non-refundable customer deposits, the company recognizes revenue as of the point in time in which the performance obligation has been satisfied under the contract with the customer, which typically occurs upon change in control at the time a product is shipped. As of May 3, 2024 and October 31, 2023, $27.3 million and $25.6 million, respectively, of deferred revenue associated with outstanding separately priced extended warranty contracts, service contracts, and non-refundable customer deposits was reported within accrued liabilities and other long-term liabilities in the Condensed Consolidated Balance Sheets. For the three and six months ended May 3, 2024, the company recognized $3.8 million and $7.2 million, respectively, of the October 31, 2023 deferred revenue balance within net sales in the Condensed Consolidated Statements of Earnings. The company expects to recognize approximately $4.8 million of the October 31, 2023 deferred revenue amount within net sales throughout the remainder of fiscal 2024, $7.8 million in fiscal 2025, and $5.8 million thereafter.