Revenue

12 Months Ended

Dec. 31, 2022

Revenue from Contract with Customer [Abstract]

Revenue

Note 3 - Revenue

The following table presents details deemed most relevant to the users of the financial statements about total revenue for the years ended December 31, 2022, 2021 and 2020:

	December 31, 2022
	Mobile		Process		Total
United States	$	1,060.0	$	931.7	$	1,991.7
Americas excluding United States	236.4		240.1		476.5
Europe / Middle East / Africa	463.6		532.6		996.2
China	120.1		488.4		608.5
Asia-Pacific excluding China	226.4		197.4		423.8
Net sales	$	2,106.5	$	2,390.2	$	4,496.7
	December 31, 2021
	Mobile		Process		Total
United States	$	950.9	$	782.7	$	1,733.6
Americas excluding United States	207.3		188.4		395.7
Europe / Middle East / Africa	487.8		540.3		1,028.1
China	125.8		486.1		611.9
Asia-Pacific excluding China	193.9		169.7		363.6
Net sales	$	1,965.7	$	2,167.2	$	4,132.9
	December 31, 2020
	Mobile		Process		Total
United States	$	853.8	$	699.6	$	1,553.4
Americas excluding United States	168.1		138.0		306.1
Europe / Middle East / Africa	389.9		457.0		846.9
China	102.2		421.0		523.2
Asia-Pacific excluding China	157.6		126.0		283.6
Net sales	$	1,671.6	$	1,841.6	$	3,513.2

When reviewing revenues by sales channel, the Company separates net sales to OEMs from sales to distributors and end users. The following table presents the percent of revenues by sales channel for the years ended December 31, 2022, 2021 and 2020:    

Revenue by sales channel	2022	2021	2020
Original equipment manufacturers	60%	60%	60%
Distribution/end users	40%	40%	40%

In addition to disaggregating revenue by segment and geography and by sales channel as shown above, the Company believes information about the timing of transfer of goods or services, type of customer and distinguishing service revenue from product sales is also relevant. During the years ended December 31, 2022 and December 31, 2021, approximately 9% of total net sales were recognized on an over-time basis, compared to 11% in 2020.These sales were recognized over-time due to the continuous transfer of control to the customer, with the remainder recognized as of a point in time. Approximately 4% of total net sales represented service revenue in 2022, 2021 and 2020. Finally, business with the U.S. government or its contractors represented approximately 7% of total net sales for 2022, 2021 and 2020.

Note 3 - Revenue (continued)

Remaining Performance Obligations:

Remaining performance obligations represent the transaction price of orders meeting the definition of a contract for which work has not been performed and excludes unexercised contract options. Performance obligations having a duration of more than one year are concentrated in contracts for certain products and services provided to the U.S. government or its contractors. The aggregate amount of the transaction price allocated to remaining performance obligations for such contracts with a duration of more than one year was approximately $171 million at December 31, 2022. The decrease in the remaining performance obligations compared to December 31, 2021 was due to the divestiture of ADS in the fourth quarter of 2022. Refer to Note 2 - Acquisitions and Divestitures for further information regarding the divestiture.

Unbilled Receivables:

The following table contains a rollforward of unbilled receivables for the years ended December 31, 2022 and 2021:

	2022		2021
Beginning balance, January 1	$	104.5	$	110.9
Additional unbilled revenue recognized	396.2		383.0
Less: amounts billed to customers	(370.5)		(389.4)
Less: unbilled receivables divested	(26.3)		—
Ending balance	$	103.9	$	104.5

There were no impairment losses recorded on unbilled receivables for the years ended December 31, 2022 and 2021.