REVENUES FROM CONTRACTS (Tables)

9 Months Ended

Oct. 01, 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 nine months ended October 1, 2022 and October 2, 2021:


	Three months ended October 1, 2022
Reportable Segments	HVAC		Detection and Measurement		Total

Major product lines
Package and process cooling equipment and services, and engineered air quality solutions	$	134.5	$	—	$	134.5
Boilers, comfort heating, and ventilation	93.3		—		93.3
Underground locators, inspection and rehabilitation equipment, and robotic systems	—		61.5		61.5
Communication technologies, obstruction lighting, and bus fare collection systems	—		81.2		81.2

	$	227.8	$	142.7	$	370.5

Timing of Revenue Recognition
Revenues recognized at a point in time	$	212.2	$	117.1	$	329.3
Revenues recognized over time	15.6		25.6		41.2
	$	227.8	$	142.7	$	370.5


	Nine months ended October 1, 2022
Reportable Segments	HVAC		Detection and Measurement		Total

Major product lines
Package and process cooling equipment and services, and engineered air quality solutions	$	381.8	$	—	$	381.8
Boilers, comfort heating, and ventilation	257.8		—		257.8
Underground locators, inspection and rehabilitation equipment, and robotic systems	—		194.1		194.1
Communication technologies, obstruction lighting, and bus fare collection systems	—		197.9		197.9

	$	639.6	$	392.0	$	1,031.6

Timing of Revenue Recognition
Revenues recognized at a point in time	$	588.1	$	331.2	$	919.3
Revenues recognized over time	51.5		60.8		112.3
	$	639.6	$	392.0	$	1,031.6


	Three months ended October 2, 2021
Reportable Segments	HVAC		Detection and Measurement		Total

Major product lines
Package and process cooling equipment and services	$	104.1	$	—	$	104.1
Boilers, comfort heating, and ventilation	75.2		—		75.2
Underground locators, inspection and rehabilitation equipment, and robotic systems	—		60.1		60.1
Communication technologies, obstruction lighting, and bus fare collection systems	—		46.3		46.3
	$	179.3	$	106.4	$	285.7

Timing of Revenue Recognition
Revenues recognized at a point in time	$	154.1	$	94.5	$	248.6
Revenues recognized over time	25.2		11.9		37.1
	$	179.3	$	106.4	$	285.7


	Nine months ended October 2, 2021
Reportable Segments	HVAC		Detection and Measurement		Total

Major product lines
Package and process cooling equipment and services	$	317.3	$	—	$	317.3
Boilers, comfort heating, and ventilation	223.0		—		223.0
Underground locators, inspection and rehabilitation equipment, and robotic systems	—		193.4		193.4
Communication technologies, obstruction lighting, and bus fare collection systems	—		135.8		135.8
	$	540.3	$	329.2	$	869.5

Timing of Revenue Recognition
Revenues recognized at a point in time	$	474.8	$	292.5	$	767.3
Revenues recognized over time	65.5		36.7		102.2
	$	540.3	$	329.2	$	869.5

Contract with Customer, Asset and Liability

Our contract balances consisted of the following as of October 1, 2022 and December 31, 2021:


Contract Balances	October 1, 2022		December 31, 2021		Change
Contract Accounts Receivable(1)	$	257.1	$	215.3	$	41.8
Contract Assets	30.2		28.9		1.3
Contract Liabilities - current	(45.5)		(44.7)		(0.8)
Contract Liabilities - non-current(2)	(5.5)		(5.8)		0.3
Net contract balance	$	236.3	$	193.7	$	42.6

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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.