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Revenue Recognition
 6 Months Ended
Jun. 30, 2024
Revenue from Contract with Customer [Abstract]  
Revenue Recognition Revenue Recognition
The Company receives payment at the inception of the contract for separately priced extended service warranties, and revenue is deferred and recognized on a straight-line basis over the life of the contracts. Remaining performance obligations for extended service warranties represent the transaction price for the remaining stand-ready obligation to perform warranty services. 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, 2024, follows:
(in millions)
Remainder of 202420252026202720282029Thereafter
Extended service warranties$14.0 $27.2 $26.2 $25.2 $24.1 $23.1 $195.4 
The Company has applied the practical expedient to not disclose information about remaining performance obligations that have original expected durations of one year or less.
Contract Balances
Contract liabilities relate to payments received in advance of performance under a contract, primarily related to extended service warranties in the CCM and CWT segments. Contract liabilities are recognized as revenue as (or when) the Company performs under the contract. A summary of the change in contract liabilities for the six months ended June 30, follows:
(in millions)
20242023
Balance as of January 1$324.0 $294.8 
Revenue recognized(14.1)(13.2)
Revenue deferred25.3 25.7 
Balance as of June 30
$335.2 $307.3 
Revenues by End-Market
A summary of revenues disaggregated by major end-market industries and reconciliation of disaggregated revenues by segment follows:
Three Months Ended June 30, 2024
(in millions)CCMCWTTotal
General construction:
Non-residential$1,006.8 $163.0 $1,169.8 
Residential82.1 164.5 246.6 
Total construction1,088.9 327.5 1,416.4 
Heavy equipment— 27.6 27.6 
General industrial and other— 6.6 6.6 
Total revenues$1,088.9 $361.7 $1,450.6 
Three Months Ended June 30, 2023
(in millions)CCMCWTTotal
General construction:
Non-residential$872.5 $150.0 $1,022.5 
Residential75.0 177.0 252.0 
Total construction947.5 327.0 1,274.5 
Heavy equipment— 28.4 28.4 
General industrial and other— 4.1 4.1 
Total revenues$947.5 $359.5 $1,307.0 
Six Months Ended June 30, 2024
(in millions)CCMCWTTotal
General construction:
Non-residential$1,725.6 $297.8 $2,023.4 
Residential146.9 309.5 456.4 
Total construction1,872.5 607.3 2,479.8 
Heavy equipment— 55.8 55.8 
General industrial and other— 11.5 11.5 
Total revenues$1,872.5 $674.6 $2,547.1 
Six Months Ended June 30, 2023
(in millions)CCMCWTTotal
General construction:
Non-residential$1,395.9 $277.1 $1,673.0 
Residential127.6 337.5 465.1 
Total construction1,523.5 614.6 2,138.1 
Heavy equipment
— 54.5 54.5 
General industrial and other
— 7.0 7.0 
Total revenues
$1,523.5 $676.1 $2,199.6 
Revenues by Geographic Area
A summary of revenues based on the region to which the product was delivered and reconciliation of disaggregated revenues by segment follows:
Three Months Ended June 30, 2024
(in millions)CCMCWTTotal
United States$1,002.3 $319.7 $1,322.0 
International:
Europe57.9 5.5 63.4 
North America (excluding U.S.)22.2 32.1 54.3 
Asia and Middle East3.8 1.5 5.3 
Africa0.3 1.0 1.3 
Other2.4 1.9 4.3 
Total international86.6 42.0 128.6 
Total revenues$1,088.9 $361.7 $1,450.6 
Three Months Ended June 30, 2023
(in millions)CCMCWTTotal
United States$868.6 $315.8 $1,184.4 
International:
Europe49.6 4.8 54.4 
North America (excluding U.S.)25.3 33.1 58.4 
Asia and Middle East3.3 2.2 5.5 
Africa0.1 1.7 1.8 
Other0.6 1.9 2.5 
Total international78.9 43.7 122.6 
Total revenues$947.5 $359.5 $1,307.0 
Six Months Ended June 30, 2024
(in millions)CCMCWTTotal
United States$1,706.1 $598.4 $2,304.5 
International:
Europe113.9 10.8 124.7 
North America (excluding U.S.)40.1 56.9 97.0 
Asia and Middle East7.8 3.5 11.3 
Africa0.3 1.6 1.9 
Other4.3 3.4 7.7 
Total international166.4 76.2 242.6 
Total revenues$1,872.5 $674.6 $2,547.1 
Six Months Ended June 30, 2023
(in millions)CCMCWTTotal
United States$1,364.4 $598.1 $1,962.5 
International:
Europe104.8 10.0 114.8 
North America (excluding U.S.)43.2 57.4 100.6 
Asia and Middle East7.1 4.6 11.7 
Africa0.6 2.5 3.1 
Other3.4 3.5 6.9 
Total international159.1 78.0 237.1 
Total revenues$1,523.5 $676.1 $2,199.6