Revenue Recognition (Tables)

3 Months Ended

Mar. 31, 2023

Revenue from Contract with Customer [Abstract]

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 March 31, 2023, follows:

(in millions)	Remainder of 2023		2024		2025		2026		2027		2028		Thereafter
Extended service warranties	$	19.2	$	24.6	$	23.7	$	22.7	$	21.6	$	20.6	$	168.2

Change in Contract Liabilities

A summary of the change in contract liabilities for the three months ended March 31, follows:

(in millions)	2023		2022
Balance as of January 1	$	310.7	$	283.9
Revenue recognized	(17.0)		(20.0)
Revenue deferred	20.2		25.2
Balance as of March 31	$	313.9	$	289.1

Schedule of Change in Contract Assets

A summary of the change in contract assets for the three months ended March 31, follows:

(in millions)	2023		2022
Balance as of January 1	$	90.7	$	72.1
Balance as of March 31	87.3		73.6
Change in contract assets	$	(3.4)	$	1.5

Reconciliation of Disaggregated Revenue

A summary of revenues disaggregated by major end-market industries and reconciliation of disaggregated revenue by segment follows:

	Three Months Ended March 31, 2023
(in millions)	CCM		CWT		CIT		CFT		Total
General construction	$	576.0	$	272.4	$	—	$	—	$	848.4
Aerospace	—		—		111.1		—		111.1
Medical	—		—		65.8		—		65.8
Transportation	—		—		—		36.3		36.3
Heavy equipment	—		26.1		—		—		26.1
General industrial and other	—		18.1		36.6		36.4		91.1
Total revenues	$	576.0	$	316.6	$	213.5	$	72.7	$	1,178.8
	Three Months Ended March 31, 2022
(in millions)	CCM		CWT		CIT		CFT		Total
General construction	$	881.1	$	298.3	$	—	$	—	$	1,179.4
Aerospace	—		—		83.3		—		83.3
Medical	—		—		64.6		—		64.6
Transportation	—		—		—		38.4		38.4
Heavy equipment	—		30.8		—		—		30.8
General industrial and other	—		30.0		37.1		32.7		99.8
Total revenues	$	881.1	$	359.1	$	185.0	$	71.1	$	1,496.3

Revenues by Geographic Area

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 March 31, 2023
(in millions)	CCM		CWT		CIT		CFT		Total
United States	$	495.8	$	282.3	$	157.7	$	36.7	$	972.5
International:
Europe	55.2		5.2		20.2		11.0		91.6
North America (excluding U.S.)	17.9		24.3		12.1		3.8		58.1
Asia and Middle East	3.8		2.4		17.6		19.9		43.7
Africa	0.5		0.8		3.4		0.2		4.9
Other	2.8		1.6		2.5		1.1		8.0
Total international	80.2		34.3		55.8		36.0		206.3
Total revenues	$	576.0	$	316.6	$	213.5	$	72.7	$	1,178.8
	Three Months Ended March 31, 2022
(in millions)	CCM		CWT		CIT		CFT		Total
United States	$	787.5	$	318.5	$	129.9	$	33.4	$	1,269.3
International:
Europe	59.9		5.4		18.2		12.9		96.4
North America (excluding U.S.)	27.6		28.2		10.8		4.5		71.1
Asia and Middle East	2.7		2.9		19.3		19.3		44.2
Africa	0.7		2.2		2.7		0.2		5.8
Other	2.7		1.9		4.1		0.8		9.5
Total international	93.6		40.6		55.1		37.7		227.0
Total revenues	$	881.1	$	359.1	$	185.0	$	71.1	$	1,496.3