Revenue Recognition and Deferred Revenue (Tables)

12 Months Ended

Dec. 31, 2021

Revenue Recognition and Deferred Revenue [Abstract]

Disaggregation of Revenue [Table Text Block]

Timing of revenue recognition

A performance obligation is a contractual promise to transfer a distinct good or service to the customer. A contract's transaction price is allocated to each distinct performance obligation and is recognized as revenue when (point in time) or as (over time) the performance obligation is satisfied. The following table represents the percentage of revenue recognized either at a point in time or over time as of December 31:

Timing of revenue recognition	2021	2020
Products transferred at a point in time	41%	39%
Products and services transferred over time	59%	61%
Net sales	100%	100%

Contract with Customer, Asset and Liability [Table Text Block]

Contract balances

The following table provides 2021 and 2020 information about receivables and deferred revenue, which represent contract liabilities from contracts with customers:

	2021				2020
Contract balance information	Trade Receivables		Contract liabilities		Trade Receivables		Contract liabilities
Balance at January 1	$	646.9	$	346.8	$	619.3	$	320.5
Balance at December 31	$	595.2	$	322.4	$	646.9	$	346.8