Revenue Recognition (Tables)

6 Months Ended

Jun. 30, 2022

Sales And Revenue Recognition [Abstract]

Schedule of Impact Due to Contract Adjustments

Contract adjustments impacted the Company’s results as follows (in millions, except per share amounts):

	Three Months Ended June 30,					Six Months Ended June 30,
	2022			2021		2022			2021
Net sales	$	(18.2	)	$	5.1	$	(23.6	)	$	1.2
Operating income		(23.6	)		3.2		(31.7	)		(0.7	)
Net income		(18.1	)		2.5		(24.3	)		(0.5	)
Diluted earnings per share	$	(0.27	)	$	0.04	$	(0.37	)	$	—

Disaggregation of Revenue

Consolidated net sales disaggregated by segment and timing of revenue recognition are as follows (in millions):

	Three Months Ended June 30, 2022
	Access Equipment		Defense		Fire & Emergency		Commercial		Corporate and Intersegment Eliminations			Total
Point in time	$	965.4	$	2.2	$	271.4	$	167.7	$	(2.2	)	$	1,404.5
Over time		11.7		537.1		5.1		107.6		—			661.5
	$	977.1	$	539.3	$	276.5	$	275.3	$	(2.2	)	$	2,066.0

	Three Months Ended June 30, 2021
	Access Equipment		Defense		Fire & Emergency		Commercial		Corporate and Intersegment Eliminations			Total
Point in time	$	907.1	$	10.1	$	297.8	$	155.7	$	(6.4	)	$	1,364.3
Over time		17.2		700.3		4.7		122.4		(0.1	)		844.5
	$	924.3	$	710.4	$	302.5	$	278.1	$	(6.5	)	$	2,208.8

	Six Months Ended June 30, 2022
	Access Equipment		Defense		Fire & Emergency		Commercial		Corporate and Intersegment Eliminations			Total
Point in time	$	1,835.3	$	4.3	$	554.0	$	322.0	$	(4.5	)	$	2,711.1
Over time		24.9		1,070.6		10.4		194.7		—			1,300.6
	$	1,860.2	$	1,074.9	$	564.4	$	516.7	$	(4.5	)	$	4,011.7

	Six Months Ended June 30, 2021
	Access Equipment		Defense		Fire & Emergency		Commercial		Corporate and Intersegment Eliminations			Total
Point in time	$	1,628.2	$	20.4	$	605.4	$	282.2	$	(13.5	)	$	2,522.7
Over time		34.3		1,304.7		9.6		225.9		0.6			1,575.1
	$	1,662.5	$	1,325.1	$	615.0	$	508.1	$	(12.9	)	$	4,097.8

Schedule of Contract Liabilities and Revenue Recognized

Contract liabilities consisted of the following (in millions):

	June 30,		December 31,
	2022		2021
Customer advances	$	757.1	$	690.9
Other current liabilities		77.2		81.9
Long-term customer advances		550.2		207.0
Other long-term liabilities		59.2		54.9
Total contract liabilities	$	1,443.7	$	1,034.7

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Beginning liabilities recognized in revenue	$	196.5	$	158.2	$	314.8	$	288.0

Schedule of Deferred Contract Related Costs

Deferred contract related costs, the majority of which related to the NGDV contract, consisted of the following (in millions):

	June 30,		December 31,
	2022		2021
Costs for anticipated contracts	$	5.5	$	4.9
Engineering costs		147.8		60.0
Factory setup costs		14.5		4.1
Customer-owned tooling		39.0		4.2
Deferred contract related costs	$	206.8	$	73.2

Schedule of Changes in Warranty Liability and Unearned Extended Warranty Premiums

Changes in the Company’s service-type warranties were as follows (in millions):

	Six Months Ended June 30,
	2022			2021
Balance at beginning of period	$	66.9		$	63.0
Deferred revenue for new service warranties		14.8			14.2
Amortization of deferred revenue		(10.6	)		(12.6	)
Foreign currency translation		(0.5	)		(0.1	)
Balance at end of period	$	70.6		$	64.5

Changes in the Company’s assurance-type warranty liability were as follows (in millions):

	Six Months Ended June 30,
	2022			2021
Balance at beginning of period	$	65.7		$	64.6
Warranty provisions		24.9			21.9
Settlements made		(29.8	)		(34.3	)
Changes in liability for pre-existing warranties, net		0.3			17.5
Foreign currency translation		(0.3	)		(0.1	)
Acquisition		0.2			0.3
Balance at end of period	$	61.0		$	69.9

Schedule of Classification of Service-type Warranties in Condensed Consolidated Balance Sheets

Classification of service-type warranties in the Condensed Consolidated Balance Sheets consisted of the following (in millions):

	June 30,		December 31,
	2022		2021
Other current liabilities	$	24.4	$	22.3
Other long-term liabilities		46.2		44.6
	$	70.6	$	66.9