Revenue Recognition (Tables)

6 Months Ended

Jun. 30, 2024

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

In the following table, revenue is disaggregated by type of good or service, primary geographical market, and timing of recognition. The table also includes a reconciliation of the disaggregated revenue to total revenue.

	Three Months Ended June 30,				Six Months Ended June 30,
(In millions)	2024		2023		2024		2023
Type of Good or Service
Recurring (1)	$	197.8	$	217.1	$	400.6	$	436.4
Non-recurring (1)	204.5		210.6		394.0		379.8
Total	402.3		427.7		794.6		816.2
Geographical Region (2)
North America	226.5		258.1		469.8		498.7
Europe, Middle East and Africa	116.4		103.2		209.4		198.4
Asia Pacific	37.5		41.2		70.4		71.0
Latin America	21.9		25.2		45.0		48.1
Total	402.3		427.7		794.6		816.2
Timing of Recognition
Point in Time	195.8		216.9		389.4		418.8
Over Time	206.5		210.8		405.2		397.4
Total	402.3		427.7		794.6		816.2

(1) Recurring revenue includes revenue from aftermarket parts and services, re-build services on customer owned equipment, operating leases of equipment, and subscription-based software applications. Non-recurring revenue includes new equipment and installation and the sale of software licenses.

(2) Geographical region represents the region in which the end customer resides.

Contract with Customer, Asset and Liability

Contract asset and liability balances for the period were as follows:

	Balances as of
(In millions)	June 30, 2024		December 31, 2023
Contract Assets	$	83.1	$	74.5
Contract Liabilities	139.2		156.5
	June 30, 2023		December 31, 2022
Contract Assets	66.3		65.1
Contract Liabilities	182.8		161.2