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Revenue (Tables)
9 Months Ended
Sep. 30, 2023
Revenue from Contract with Customer [Abstract]  
Contract with Customer, Asset and Liability Significant changes in the balance of contract liabilities for the three and nine months ended September 30, 2023 and 2022 were as follows (in millions):
Three Months Ended September 30,
20232022
Balance at beginning of period$274.6 $217.7 
Advance consideration received47.7 52.7 
Revenue recognized during the period for extended warranty contracts, maintenance services and technology services(25.1)(19.4)
Revenue recognized during the period related to grain storage and protein production systems(6.8)(29.6)
Foreign currency translation(5.8)(12.0)
Balance at September 30$284.6 $209.4 
Nine Months Ended September 30,
20232022
Balance at beginning of period$239.0 $226.2 
Advance consideration received164.2 127.2 
Revenue recognized during the period for extended warranty contracts, maintenance services and technology services(76.8)(58.4)
Revenue recognized during the period related to grain storage and protein production systems(40.7)(58.1)
Foreign currency translation(1.1)(27.5)
Balance at September 30$284.6 $209.4 
Disaggregation of Revenue Net sales for the three months ended September 30, 2023 disaggregated by primary geographical markets and major products consisted of the following (in millions):
North America
South America
Europe/Middle EastAsia/Pacific/Africa
Consolidated
Primary geographical markets:
United States$744.6 $— $— $— $744.6 
Canada157.3 — — — 157.3 
Brazil— 600.3 — — 600.3 
Other South America— 115.9 — — 115.9 
Germany— — 342.3 — 342.3 
France— — 339.2 — 339.2 
United Kingdom and Ireland— — 134.3 — 134.3 
Finland and Scandinavia— — 181.5 — 181.5 
Italy— — 103.4 — 103.4 
Other Europe— — 398.2 — 398.2 
Middle East and Algeria— — 88.0 — 88.0 
Africa— — — 40.9 40.9 
Asia— — — 72.7 72.7 
Australia and New Zealand— — — 94.1 94.1 
Mexico, Central America and Caribbean39.2 3.6 — — 42.8 
$941.1 $719.8 $1,586.9 $207.7 $3,455.5 
Major products:
Tractors$347.5 $418.3 $1,126.4 $116.9 $2,009.1 
Replacement parts107.1 41.8 292.6 26.0 467.5 
Grain storage and protein production systems169.8 33.0 32.9 25.5 261.2 
Combines, application equipment and other machinery316.7 226.7 135.0 39.3 717.7 
$941.1 $719.8 $1,586.9 $207.7 $3,455.5 
    Net sales for the three months ended September 30, 2022 disaggregated by primary geographical markets and major products consisted of the following (in millions):
North America(1)
South America
Europe/Middle East(1)
Asia/Pacific/Africa(1)
Consolidated(1)
Primary geographical markets:
United States$730.7 $— $— $— $730.7 
Canada140.6 — — — 140.6 
Brazil— 459.3 — — 459.3 
Other South America— 108.8 — — 108.8 
Germany— — 294.9 — 294.9 
France— — 253.1 — 253.1 
United Kingdom and Ireland— — 148.1 — 148.1 
Finland and Scandinavia— — 176.4 — 176.4 
Italy— — 95.2 — 95.2 
Other Europe— — 367.6 — 367.6 
Middle East and Algeria— — 54.8 — 54.8 
Africa— — — 44.7 44.7 
Asia— — — 94.0 94.0 
Australia and New Zealand— — — 111.1 111.1 
Mexico, Central America and Caribbean39.2 3.1 — — 42.3 
$910.5 $571.2 $1,390.1 $249.8 $3,121.6 
Major products:
Tractors$328.2 $294.0 $977.2 $137.5 $1,736.9 
Replacement parts109.5 41.4 246.2 28.0 425.1 
Grain storage and protein production systems175.3 56.8 43.0 37.3 312.4 
Combines, application equipment and other machinery297.4 179.0 123.8 47.1 647.3 
$910.5 $571.2 $1,390.1 $249.8 $3,121.6 
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(1) Rounding may impact the summation of amounts.
    Net sales for the nine months ended September 30, 2023 disaggregated by primary geographical markets and major products consisted of the following (in millions):
North AmericaSouth AmericaEurope/Middle EastAsia/Pacific/AfricaConsolidated
Primary geographical markets:
United States$2,276.4 $— $— $— $2,276.4 
Canada469.9 — — — 469.9 
Brazil— 1,537.8 — — 1,537.8 
Other South America— 273.0 — — 273.0 
Germany— — 1,190.9 — 1,190.9 
France— — 1,014.3 — 1,014.3 
United Kingdom and Ireland— — 482.1 — 482.1 
Finland and Scandinavia— — 587.4 — 587.4 
Italy— — 337.2 — 337.2 
Other Europe— — 1,355.2 — 1,355.2 
Middle East and Algeria— — 314.4 — 314.4 
Africa— — — 106.4 106.4 
Asia— — — 261.5 261.5 
Australia and New Zealand— — — 279.1 279.1 
Mexico, Central America and Caribbean114.7 11.4 — — 126.1 
$2,861.0 $1,822.2 $5,281.5 $647.0 $10,611.7 
Major products:
Tractors$995.0 $1,072.9 $3,725.4 $356.0 $6,149.3 
Replacement parts339.1 124.1 874.9 76.8 1,414.9 
Grain storage and protein production systems506.1 112.6 116.7 94.7 830.1 
Combines, application equipment and other machinery1,020.8 512.6 564.5 119.5 2,217.4 
$2,861.0 $1,822.2 $5,281.5 $647.0 $10,611.7 
    
    Net sales for the nine months ended September 30, 2022 disaggregated by primary geographical markets and major products consisted of the following (in millions):
North America(1)
South America
Europe/Middle East(1)
Asia/Pacific/AfricaConsolidated
Primary geographical markets:
United States$1,884.4 $— $— $— $1,884.4 
Canada367.5 — — — 367.5 
Brazil— 1,156.4 — — 1,156.4 
Other South America— 280.1 — — 280.1 
Germany— — 900.2 — 900.2 
France— — 782.3 — 782.3 
United Kingdom and Ireland— — 451.3 — 451.3 
Finland and Scandinavia— — 569.5 — 569.5 
Italy— — 270.3 — 270.3 
Other Europe— — 1,152.4 — 1,152.4 
Middle East and Algeria— — 134.8 — 134.8 
Africa— — — 115.2 115.2 
Asia— — — 295.9 295.9 
Australia and New Zealand— — — 282.4 282.4 
Mexico, Central America and Caribbean99.5 10.3 — — 109.8 
$2,351.4 $1,446.8 $4,260.8 $693.5 $8,752.5 
Major products:
Tractors$843.5 $791.9 $2,868.8 $375.3 $4,879.5 
Replacement parts323.6 116.2 803.1 77.8 1,320.7 
Grain storage and protein production systems461.9 138.4 120.0 118.4 838.7 
Combines, application equipment and other machinery722.3 400.3 469.0 122.1 1,713.7 
$2,351.4 $1,446.8 $4,260.8 $693.5 $8,752.5 
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(1) Rounding may impact the summation of amounts.