REVENUES (Tables)

3 Months Ended

Mar. 31, 2020

REVENUES

Schedule of operating lease revenue

	First Quarter Ended
	March 31
(millions)	2020		2019
Operating lease revenue*		$108.4		$102.9

Schedule of principal activities, separated by reportable segments and geographic region

Net sales at public exchange rates by reportable segment are as follows:

	First Quarter Ended
	March 31
(millions)	2020		2019
Global Industrial
Product and sold equipment		$1,232.5		$1,213.7
Service and lease equipment		202.0		188.3
Global Institutional
Product and sold equipment		888.9		855.6
Service and lease equipment		178.3		165.2
Global Healthcare and Life Sciences
Product and sold equipment		221.9		209.9
Service and lease equipment		21.7		17.7
Upstream Energy
Product and sold equipment		505.5		524.8
Service and lease equipment		54.9		55.2
Other
Product and sold equipment		81.2		82.3
Service and lease equipment		194.5		192.7
Total
Total product and sold equipment		$2,930.0		$2,886.3
Total service and lease equipment		651.4		619.1

Net sales at public exchange rates by geographic region for the first quarter ended March 31 are as follows:

	Global				Global				Global Healthcare
	Industrial				Institutional				and Life Sciences				Upstream Energy				Other
(millions)	2020		2019		2020		2019		2020		2019		2020		2019		2020		2019
North America		$691.6		$673.6		$779.8		$740.1		$107.7		$99.9		$351.3		$358.5		$168.2		$166.6
Europe		281.2		277.2		142.5		143.1		120.3		119.9		68.1		71.3		59.7		58.3
Asia Pacific		183.7		181.7		60.0		56.0		10.5		3.6		20.2		18.2		18.1		18.1
Latin America		129.1		125.2		39.8		39.5		1.0		1.0		41.2		40.8		12.0		12.3
Greater China		74.2		76.4		33.7		31.2		0.6		0.4		0.5		4.6		13.5		15.6
Middle East and Africa		74.7		67.9		11.4		10.9		3.5		2.8		79.1		86.6		4.2		4.1
Total		$1,434.5		$1,402.0		$1,067.2		$1,020.8		$243.6		$227.6		$560.4		$580.0		$275.7		$275.0

Net sales by geographic region were determined based on origin of sale. Revenues in the United States made up 54% and 54% of total revenues as of March 31, 2020 and 2019, respectively.

Schedule of contract liability

	March 31		March 31
(millions)	2020		2019
Contract liability as of beginning of the year		$84.7		$75.8
Revenue recognized in the year from:
Amounts included in the contract liability at the beginning of the year		(84.7)		(75.8)
Increases due to billings excluding amounts recognized as revenue during the year ended		88.3		82.4
Business combinations		-		3.0
Contract liability as of end of period		$88.3		$85.4