REVENUES FROM CONTRACTS (Tables)

6 Months Ended

Jul. 02, 2022

Revenue from Contract with Customer [Abstract]

We disaggregate revenue from contracts with customers by major product line and based on the timing of recognition for each of our reportable segments, as we believe such disaggregation best depicts how the nature, amount, timing, and uncertainty of our revenues and cash flows are affected by economic factors, with such disaggregation presented below for the three and six months ended July 2, 2022 and July 3, 2021:


	Three months ended July 2, 2022
Reportable Segments	HVAC		Detection and Measurement		Total

Major product lines
Package and process cooling equipment and services, and engineered air quality solutions	$	130.5	$	—	$	130.5
Boilers, comfort heating, and ventilation	88.2		—		88.2
Underground locators, inspection and rehabilitation equipment, and robotic systems	—		65.4		65.4
Communication technologies, obstruction lighting, and bus fare collection systems	—		69.9		69.9

	$	218.7	$	135.3	$	354.0

Timing of Revenue Recognition
Revenues recognized at a point in time	$	202.8	$	110.9	$	313.7
Revenues recognized over time	15.9		24.4		40.3
	$	218.7	$	135.3	$	354.0


	Six months ended July 2, 2022
Reportable Segments	HVAC		Detection and Measurement		Total

Major product lines
Package and process cooling equipment and services, and engineered air quality solutions	$	247.3	$	—	$	247.3
Boilers, comfort heating, and ventilation	164.5		—		164.5
Underground locators, inspection and rehabilitation equipment, and robotic systems	—		132.6		132.6
Communication technologies, obstruction lighting, and bus fare collection systems	—		116.7		116.7

	$	411.8	$	249.3	$	661.1

Timing of Revenue Recognition
Revenues recognized at a point in time	$	375.9	$	214.1	$	590.0
Revenues recognized over time	35.9		35.2		71.1
	$	411.8	$	249.3	$	661.1


	Three months ended July 3, 2021
Reportable Segments	HVAC		Detection and Measurement		Total

Major product lines
Package and process cooling equipment and services	$	111.5	$	—	$	111.5
Boilers, comfort heating, and ventilation	73.9		—		73.9
Underground locators, inspection and rehabilitation equipment, and robotic systems	—		65.9		65.9
Communication technologies, obstruction lighting, and bus fare collection systems	—		45.3		45.3
	$	185.4	$	111.2	$	296.6

Timing of Revenue Recognition
Revenues recognized at a point in time	$	166.3	$	101.5	$	267.8
Revenues recognized over time	19.1		9.7		28.8
	$	185.4	$	111.2	$	296.6


	Six months ended July 3, 2021
Reportable Segments	HVAC		Detection and Measurement		Total

Major product lines
Package and process cooling equipment and services	$	213.2	$	—	$	213.2
Boilers, comfort heating, and ventilation	147.8		—		147.8
Underground locators, inspection and rehabilitation equipment, and robotic systems	—		133.3		133.3
Communication technologies, obstruction lighting, and bus fare collection systems	—		89.5		89.5
	$	361.0	$	222.8	$	583.8

Timing of Revenue Recognition
Revenues recognized at a point in time	$	320.7	$	198.0	$	518.7
Revenues recognized over time	40.3		24.8		65.1
	$	361.0	$	222.8	$	583.8

Contract with Customer, Asset and Liability

Our contract balances consisted of the following as of July 2, 2022 and December 31, 2021:


Contract Balances	July 2, 2022		December 31, 2021		Change
Contract Accounts Receivable(1)	$	234.1	$	215.3	$	18.8
Contract Assets	33.9		28.9		5.0
Contract Liabilities - current	(45.4)		(44.7)		(0.7)
Contract Liabilities - non-current(2)	(5.9)		(5.8)		(0.1)
Net contract balance	$	216.7	$	193.7	$	23.0

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(1) Included in “Accounts receivable, net” within the accompanying condensed consolidated balance sheets.

(2) Included in “Other long-term liabilities” within the accompanying condensed consolidated balance sheets.