v3.26.1
Revenue
 6 Months Ended
Jun. 30, 2026
Revenue from Contract with Customer [Abstract]  
Revenue Revenue
We disaggregate our revenue from contracts with customers by reportable segment, geographic location and vertical market, as we believe these best depict how the nature, amount, timing and uncertainty of our revenue and cash flows are affected by economic factors. Refer to Note 14 for revenue disaggregated by reportable segment.
Geographic net sales information, based on geographic destination of the sale, was as follows:
Three months endedSix months ended
In millionsJune 30,
2026		June 30,
2025		June 30,
2026		June 30,
2025
U.S.$624.6 $807.4 $1,355.5 $1,532.1 
Western Europe121.3 122.5 251.1 245.1 
Developing (1)
121.7 136.0 230.2 245.2 
Other Developed (2)
65.0 57.2 132.5 111.1 
Consolidated net sales$932.6 $1,123.1 $1,969.3 $2,133.5 
(1) Developing primarily includes China, Latin America, the Middle East and Southeast Asia.
(2) Other Developed primarily includes Australia and Canada.
Vertical market net sales information was as follows:
Three months endedSix months ended
In millionsJune 30,
2026		June 30,
2025		June 30,
2026		June 30,
2025
Residential$425.8 $647.3 $992.2 $1,227.7 
Commercial306.8 280.0 581.4 524.2 
Industrial200.0 195.8 395.7 381.6 
Consolidated net sales$932.6 $1,123.1 $1,969.3 $2,133.5 
Performance obligations
As of June 30, 2026, we had $117.7 million of remaining performance obligations on contracts with an original expected duration of one year or more. We expect to recognize the majority of our remaining performance obligations on these contracts within the next 12 to 18 months.
Contract assets and liabilities
Contract assets and liabilities consisted of the following:
In millionsJune 30,
2026		December 31,
2025		$ Change% Change
Contract assets$59.7 $53.9 $5.8 10.8 %
Contract liabilities36.8 42.8 (6.0)(14.0)%
Net contract assets$22.9 $11.1 $11.8 106.3 %
The $11.8 million increase in net contract assets from December 31, 2025 to June 30, 2026 was primarily the result of timing of milestone payments. Approximately 85% of our contract liabilities at December 31, 2025 were recognized in revenue in the first half of 2026.