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Revenue Recognition (Tables)
6 Months Ended
Jun. 30, 2018
Revenue from Contract with Customer [Abstract]  
Reconciliation of Disaggregated Revenue A summary of the timing of revenue recognition and reconciliation of disaggregated revenue by reportable segment follows:
 
 
Three Months Ended June 30, 2018
(in millions)
 
CCM
 
CIT
 
CFT
 
CBF
 
Total
Products transferred at a point in time
 
$
823.3

 
$
219.9

 
$
73.3

 
$
96.5

 
$
1,213.0

Products and services transferred over time
 
5.3

 
17.8

 
—

 
—

 
23.1

Total revenues
 
$
828.6

 
$
237.7

 
$
73.3

 
$
96.5

 
$
1,236.1

 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended June 30, 2017
(in millions)
 
CCM
 
CIT
 
CFT
 
CBF
 
Total
Products transferred at a point in time
 
$
626.1

 
$
200.4

 
$
71.0

 
$
79.9

 
$
977.4

Products and services transferred over time
 
5.1

 
1.4

 
—

 
—

 
6.5

Total revenues
 
$
631.2

 
$
201.8

 
$
71.0

 
$
79.9

 
$
983.9

 
 
Six Months Ended June 30, 2018
(in millions)
 
CCM
 
CIT
 
CFT
 
CBF
 
Total
Products transferred at a point in time
 
$
1,416.7

 
$
433.5

 
$
136.8

 
$
194.8

 
$
2,181.8

Products and services transferred over time
 
10.5

 
28.5

 
—

 
—

 
39.0

Total revenues
 
$
1,427.2

 
$
462.0

 
$
136.8

 
$
194.8

 
$
2,220.8

 
 
 
 
 
 
 
 
 
 
 
 
 
Six Months Ended June 30, 2017
(in millions)
 
CCM
 
CIT
 
CFT
 
CBF
 
Total
Products transferred at a point in time
 
$
1,067.3

 
$
393.0

 
$
131.5

 
$
153.1

 
$
1,744.9

Products and services transferred over time
 
10.0

 
3.0

 
—

 
—

 
13.0

Total revenues
 
$
1,077.3

 
$
396.0

 
$
131.5

 
$
153.1

 
$
1,757.9

A summary of revenues disaggregated by major end-market industries and reconciliation of disaggregated revenue by segment follows:
 
 
Three Months Ended June 30, 2018
(in millions)
 
CCM
 
CIT
 
CFT
 
CBF
 
Total
General construction
 
$
768.1

 
$
—

 
$
—

 
$
—

 
$
768.1

Aerospace
 
—

 
150.8

 
—

 
3.5

 
154.3

Heavy equipment
 
31.6

 
—

 
—

 
79.3

 
110.9

Transportation
 
—

 
—

 
39.9

 
11.5

 
51.4

Medical
 
—

 
34.6

 
—

 
—

 
34.6

General industrial and other
 
28.9

 
52.3

 
33.4

 
2.2

 
116.8

Total revenues
 
$
828.6

 
$
237.7

 
$
73.3

 
$
96.5

 
$
1,236.1

 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended June 30, 2017
(in millions)
 
CCM
 
CIT
 
CFT
 
CBF
 
Total
General construction
 
$
631.2

 
$
—

 
$
—

 
$
—

 
$
631.2

Aerospace
 
—

 
126.4

 
—

 
4.2

 
130.6

Heavy equipment
 
—

 
—

 
—

 
61.8

 
61.8

Transportation
 
—

 
—

 
39.8

 
10.8

 
50.6

Medical
 
—

 
32.1

 
—

 
—

 
32.1

General industrial and other
 
—

 
43.3

 
31.2

 
3.1

 
77.6

Total revenues
 
$
631.2

 
$
201.8

 
$
71.0

 
$
79.9

 
$
983.9

 
 
Six Months Ended June 30, 2018
(in millions)
 
CCM
 
CIT
 
CFT
 
CBF
 
Total
General construction
 
$
1,314.4

 
$
—

 
$
—

 
$
—

 
$
1,314.4

Aerospace
 
—

 
305.6

 
—

 
9.8

 
315.4

Heavy equipment
 
57.8

 
—

 
—

 
158.5

 
216.3

Transportation
 
—

 
—

 
73.1

 
21.3

 
94.4

Medical
 
—

 
69.3

 
—

 
—

 
69.3

General industrial and other
 
55.0

 
87.1

 
63.7

 
5.2

 
211.0

Total revenues
 
$
1,427.2

 
$
462.0

 
$
136.8

 
$
194.8

 
$
2,220.8

 
 
 
 
 
 
 
 
 
 
 
 
 
Six Months Ended June 30, 2017
(in millions)
 
CCM
 
CIT
 
CFT
 
CBF
 
Total
General construction
 
$
1,077.3

 
$
—

 
$
—

 
$
—

 
$
1,077.3

Aerospace
 
—

 
257.9

 
—

 
9.1

 
267.0

Heavy equipment
 
—

 
—

 
—

 
116.8

 
116.8

Transportation
 
—

 
—

 
71.7

 
20.1

 
91.8

Medical
 
—

 
60.4

 
—

 
—

 
60.4

General industrial and other
 
—

 
77.7

 
59.8

 
7.1

 
144.6

Total revenues
 
$
1,077.3

 
$
396.0

 
$
131.5

 
$
153.1

 
$
1,757.9

A summary of revenues based on the country to which the product was delivered and reconciliation of disaggregated revenue by segment follows:
 
 
Three Months Ended June 30, 2018
(in millions)
 
CCM
 
CIT
 
CFT
 
CBF
 
Total
United States
 
$
733.6

 
$
164.7

 
$
30.7

 
$
38.7

 
$
967.7

International:
 
 
 
 
 
 
 
 
 
 
Europe
 
52.4

 
23.0

 
15.0

 
28.9

 
119.3

Asia
 
3.6

 
25.6

 
24.6

 
20.6

 
74.4

Canada
 
29.5

 
1.4

 
1.7

 
0.7

 
33.3

Mexico and Latin America
 
1.4

 
12.4

 
0.5

 
3.9

 
18.2

Middle East and Africa
 
5.8

 
6.7

 
0.8

 
0.3

 
13.6

Other
 
2.3

 
3.9

 
—

 
3.4

 
9.6

Total international
 
95.0

 
73.0

 
42.6

 
57.8

 
268.4

Total revenues
 
$
828.6

 
$
237.7

 
$
73.3

 
$
96.5

 
$
1,236.1

 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended June 30, 2017
(in millions)
 
CCM
 
CIT
 
CFT
 
CBF
 
Total
United States
 
$
564.7

 
$
129.0

 
$
29.1

 
$
33.9

 
$
756.7

International:
 
 
 
 
 
 
 
 
 
 
Europe
 
43.2

 
21.9

 
13.7

 
23.2

 
102.0

Asia
 
2.5

 
30.5

 
22.5

 
16.0

 
71.5

Canada
 
14.8

 
0.9

 
2.0

 
1.1

 
18.8

Mexico and Latin America
 
0.5

 
12.0

 
1.9

 
3.0

 
17.4

Middle East and Africa
 
4.6

 
5.9

 
0.6

 
0.2

 
11.3

Other
 
0.9

 
1.6

 
1.2

 
2.5

 
6.2

Total international
 
66.5

 
72.8

 
41.9

 
46.0

 
227.2

Total revenues
 
$
631.2

 
$
201.8

 
$
71.0

 
$
79.9

 
$
983.9

 
 
Six Months Ended June 30, 2018
(in millions)
 
CCM
 
CIT
 
CFT
 
CBF
 
Total
United States
 
$
1,262.6

 
$
320.3

 
$
56.3

 
$
80.2

 
$
1,719.4

International:
 
 
 
 
 
 
 
 
 
 
Europe
 
91.8

 
45.3

 
28.3

 
59.2

 
224.6

Asia
 
8.8

 
48.5

 
44.4

 
39.5

 
141.2

Canada
 
47.9

 
2.5

 
3.3

 
1.4

 
55.1

Mexico and Latin America
 
2.3

 
24.4

 
2.6

 
7.5

 
36.8

Middle East and Africa
 
8.9

 
14.3

 
1.4

 
0.5

 
25.1

Other
 
4.9

 
6.7

 
0.5

 
6.5

 
18.6

Total international
 
164.6

 
141.7

 
80.5

 
114.6

 
501.4

Total revenues
 
$
1,427.2

 
$
462.0

 
$
136.8

 
$
194.8

 
$
2,220.8

 
 
 
 
 
 
 
 
 
 
 
 
 
Six Months Ended June 30, 2017
(in millions)
 
CCM
 
CIT
 
CFT
 
CBF
 
Total
United States
 
$
959.3

 
$
254.7

 
$
54.2

 
$
63.4

 
$
1,331.6

International:
 
 
 
 
 
 
 
 
 
 
Europe
 
79.5

 
48.4

 
26.7

 
45.7

 
200.3

Asia
 
4.4

 
50.5

 
40.3

 
29.3

 
124.5

Canada
 
24.8

 
2.3

 
3.6

 
2.3

 
33.0

Mexico and Latin America
 
0.9

 
23.6

 
3.6

 
5.9

 
34.0

Middle East and Africa
 
6.9

 
13.3

 
1.0

 
1.8

 
23.0

Other
 
1.5

 
3.2

 
2.1

 
4.7

 
11.5

Total international
 
118.0

 
141.3

 
77.3

 
89.7

 
426.3

Total revenues
 
$
1,077.3

 
$
396.0

 
$
131.5

 
$
153.1

 
$
1,757.9

Summary of the Timing of Revenue Recognition A summary of estimated revenue expected to be recognized in the future related to performance obligations that are unsatisfied or partially unsatisfied as of June 30, 2018, follows:
(in millions)
 
Remainder of 2018
 
2019
 
2020
 
2021
 
2022
 
2023
 
Thereafter
Extended service warranties
 
$
10.2

 
$
19.6

 
$
18.6

 
$
17.6

 
$
16.4

 
$
15.2

 
$
115.7

Change in Contract Liabilities A summary of the change in contract liabilities for the six months ended June 30, follows:
(in millions)
 
2018
 
2017
Balance as of January 1
 
$
215.8

 
$
195.2

Revenue recognized
 
(31.2
)
 
(32.2
)
Revenue deferred
 
39.6

 
45.5

Acquired liabilities
 
0.2

 
—

Balance as of June 30
 
$
224.4

 
$
208.5

Schedule of Change in Contract Assets A summary of the change in contract assets for the six months ended June 30, follows:
(in millions)
 
2018
Balance as of January 1
 
$
—

Adoption of ASC 606
 
22.8

Revenue recognized and unbilled
 
69.5

Revenue billed
 
(49.5
)
Balance as of June 30
 
$
42.8