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Revenue Recognition (Tables)
6 Months Ended
Mar. 31, 2020
Sales And Revenue Recognition [Abstract]  
Schedule of Increase Within Defense Segment Due to Contract Adjustments

Contract adjustments resulted in increases within the defense segment as follows (in millions, except for per share amounts):

Disaggregation of Revenue

The table below presents consolidated net sales disaggregated by segment and timing of revenue recognition (in millions):

 

 

Three Months Ended March 31, 2020

 

 

 

Access

equipment

 

 

Defense

 

 

Fire &

emergency

 

 

Commercial

 

 

Corporate and

intersegment

eliminations

 

 

Total

 

Point in time

 

$

670.8

 

 

$

0.4

 

 

$

242.9

 

 

$

118.1

 

 

$

(4.3

)

 

$

1,027.9

 

Over time

 

 

22.2

 

 

 

614.6

 

 

 

12.7

 

 

 

118.6

 

 

 

0.7

 

 

 

768.8

 

 

 

$

693.0

 

 

$

615.0

 

 

$

255.6

 

 

$

236.7

 

 

$

(3.6

)

 

$

1,796.7

 

 

 

 

Three Months Ended March 31, 2019

 

 

 

Access

equipment

 

 

Defense

 

 

Fire &

emergency

 

 

Commercial

 

 

Corporate and

intersegment

eliminations

 

 

Total

 

Point in time

 

$

968.9

 

 

$

1.4

 

 

$

274.3

 

 

$

148.1

 

 

$

(5.2

)

 

$

1,387.5

 

Over time

 

 

18.7

 

 

 

485.3

 

 

 

8.9

 

 

 

89.8

 

 

 

 

 

 

602.7

 

 

 

$

987.6

 

 

$

486.7

 

 

$

283.2

 

 

$

237.9

 

 

$

(5.2

)

 

$

1,990.2

 

 

 

 

Six Months Ended March 31, 2020

 

 

 

Access

equipment

 

 

Defense

 

 

Fire &

emergency

 

 

Commercial

 

 

Corporate and

intersegment

eliminations

 

 

Total

 

Point in time

 

$

1,366.1

 

 

$

0.9

 

 

$

494.9

 

 

$

237.5

 

 

$

(7.4

)

 

$

2,092.0

 

Over time

 

 

44.8

 

 

 

1,107.2

 

 

 

23.1

 

 

 

223.4

 

 

 

1.3

 

 

 

1,399.8

 

 

 

$

1,410.9

 

 

$

1,108.1

 

 

$

518.0

 

 

$

460.9

 

 

$

(6.1

)

 

$

3,491.8

 

 

 

 

Six Months Ended March 31, 2019

 

 

 

Access

equipment

 

 

Defense

 

 

Fire &

emergency

 

 

Commercial

 

 

Corporate and

intersegment

eliminations

 

 

Total

 

Point in time

 

$

1,776.7

 

 

$

1.7

 

 

$

565.2

 

 

$

269.3

 

 

$

(10.1

)

 

$

2,602.8

 

Over time

 

 

37.4

 

 

 

949.1

 

 

 

13.5

 

 

 

190.8

 

 

 

 

 

 

1,190.8

 

 

 

$

1,814.1

 

 

$

950.8

 

 

$

578.7

 

 

$

460.1

 

 

$

(10.1

)

 

$

3,793.6

 

 

Schedule of Changes in Warranty Liability and Unearned Extended Warranty Premiums Changes in the Company’s service-type warranties were as follows (in millions):

 

 

Six Months Ended

March 31,

 

 

 

2020

 

 

2019

 

Balance at beginning of period

 

$

68.2

 

 

$

30.7

 

Adoption of ASC 606

 

 

 

 

 

35.7

 

Deferred revenue for new service warranties

 

 

11.8

 

 

 

12.8

 

Amortization of deferred revenue

 

 

(14.2

)

 

 

(12.5

)

Changes in liability for pre-existing warranties, net

 

 

 

 

 

0.1

 

Foreign currency translation

 

 

0.1

 

 

 

(0.3

)

Balance at end of period

 

$

65.9

 

 

$

66.5

 

 

Changes in the Company’s assurance-type warranty liability were as follows (in millions):

 

 

 

Six Months Ended

March 31,

 

 

 

2020

 

 

2019

 

Balance at beginning of period

 

$

65.1

 

 

$

75.3

 

Adoption of ASC 606

 

 

 

 

 

(14.3

)

Warranty provisions

 

 

21.0

 

 

 

21.2

 

Settlements made

 

 

(26.1

)

 

 

(22.8

)

Changes in liability for pre-existing warranties, net

 

 

5.2

 

 

 

(0.3

)

Foreign currency translation

 

 

 

 

 

(0.2

)

Balance at end of period

 

$

65.2

 

 

$

58.9

 

 

Schedule of Classification of Service-type Warranties in Consolidated Balance Sheets

Classification of service-type warranties in the Condensed Consolidated Balance Sheets consisted of the following (in millions):

 

 

March 31,

 

 

September 30,

 

 

 

2020

 

 

2019

 

Other current liabilities

 

$

26.4

 

 

$

27.8

 

Other long-term liabilities

 

 

39.5

 

 

 

40.4

 

 

 

$

65.9

 

 

$

68.2