| Revenue Disaggregation of revenue We disaggregate our revenue from contracts with customers by geographic location and vertical, as we believe these best depict how the nature, amount, timing and uncertainty of our revenue and cash flows are affected by economic factors. Geographic net sales information, based on geographic destination of the sale, was as follows: | | | | | | | | | | | | | | Three months ended June 30, 2026 | | In millions | Systems Protection | Electrical Connections | | Total | | Americas | $ | 917.0 | | $ | 340.0 | | | $ | 1,257.0 | | | Europe, the Middle East and Africa ("EMEA") | 111.2 | | 43.5 | | | 154.7 | | | Asia-Pacific | 43.9 | | 15.7 | | | 59.6 | | | | | | | | Total | $ | 1,072.1 | | $ | 399.2 | | | $ | 1,471.3 | | | | | | | | Six months ended June 30, 2026 | | In millions | Systems Protection | Electrical Connections | | Total | | Americas | $ | 1,672.6 | | $ | 634.6 | | | $ | 2,307.2 | | | EMEA | 220.6 | | 84.4 | | | 305.0 | | | Asia-Pacific | 73.7 | | 27.4 | | | 101.1 | | | | | | | | Total | $ | 1,966.9 | | $ | 746.4 | | | $ | 2,713.3 | |
| | | | | | | | | | | | | | Three months ended June 30, 2025 | | In millions | Systems Protection | Electrical Connections | | Total | | Americas | $ | 495.5 | | $ | 282.4 | | | $ | 777.9 | | | EMEA | 104.2 | | 37.7 | | | 141.9 | | | Asia-Pacific | 32.3 | | 11.0 | | | 43.3 | | | | | | | | Total | $ | 632.0 | | $ | 331.1 | | | $ | 963.1 | | | | | | | | Six months ended June 30, 2025 | | In millions | Systems Protection | Electrical Connections | | Total | | Americas | $ | 874.4 | | $ | 537.4 | | | $ | 1,411.8 | | | EMEA | 200.3 | | 73.6 | | | 273.9 | | | Asia-Pacific | 65.5 | | 21.2 | | | 86.7 | | | | | | | | Total | $ | 1,140.2 | | $ | 632.2 | | | $ | 1,772.4 | | | | | | | |
Vertical net sales information was as follows: | | | | | | | | | | | | | | Three months ended June 30, 2026 | | In millions | Systems Protection | Electrical Connections | | Total | | Infrastructure | $ | 729.3 | | $ | 153.2 | | | $ | 882.5 | | | Industrial | 269.8 | | 60.4 | | | 330.2 | | | Commercial & Residential | 73.0 | | 185.6 | | | 258.6 | | | | | | | | Total | $ | 1,072.1 | | $ | 399.2 | | | $ | 1,471.3 | | | | | | | | Six months ended June 30, 2026 | | In millions | Systems Protection | Electrical Connections | | Total | | Infrastructure | $ | 1,289.3 | | $ | 286.6 | | | $ | 1,575.9 | | | Industrial | 534.0 | | 113.5 | | | 647.5 | | | Commercial & Residential | 143.6 | | 346.3 | | | 489.9 | | | | | | | | Total | $ | 1,966.9 | | $ | 746.4 | | | $ | 2,713.3 | |
| | | | | | | | | | | | | | Three months ended June 30, 2025 | | In millions | Systems Protection | Electrical Connections | | Total | | Infrastructure | $ | 292.5 | | $ | 116.8 | | | $ | 409.3 | | | Industrial | 266.0 | | 50.6 | | | 316.6 | | | Commercial & Residential | 73.5 | | 163.7 | | | 237.2 | | | | | | | | Total | $ | 632.0 | | $ | 331.1 | | | $ | 963.1 | | | | | | | | Six months ended June 30, 2025 | | In millions | Systems Protection | Electrical Connections | | Total | | Infrastructure | $ | 510.5 | | $ | 215.6 | | | $ | 726.1 | | | Industrial | 497.3 | | 98.2 | | | 595.5 | | | Commercial & Residential | 132.4 | | 318.4 | | | 450.8 | | | | | | | | Total | $ | 1,140.2 | | $ | 632.2 | | | $ | 1,772.4 | |
In the first quarter of 2026, based on benchmarking of industry peers and for purposes of how we assess performance, we updated the disaggregation categories on which we report revenue by vertical. For comparability, we have recategorized revenue for the three and six months ended June 30, 2025 to conform to the new presentation. This recategorization of revenue by vertical had no impact on our consolidated financial results. Contract balances Contract assets and liabilities consisted of the following: | | | | | | | | | | | | | | | | In millions | June 30, 2026 | December 31, 2025 | $ Change | % Change | | Contract assets | $ | 168.5 | | $ | 160.8 | | $ | 7.7 | | 4.8 | % | | Contract liabilities | 159.9 | | 176.8 | | (16.9) | | (9.6) | % | | | | | | | Net contract assets | $ | 8.6 | | $ | (16.0) | | $ | 24.6 | | 153.8 | % |
The $24.6 million increase in net contract assets from December 31, 2025 to June 30, 2026 was primarily the result of the timing of milestone invoicing. The majority of our contract liabilities at December 31, 2025 were recognized in revenue during the six months ended June 30, 2026. There were no material impairment losses recognized on our contract assets for the three and six months ended June 30, 2026 and 2025. Remaining performance obligations On June 30, 2026, we had $2.5 billion of remaining performance obligations. We expect to recognize the majority of our remaining performance obligations on these contracts within the next twelve months.
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