Company Quick10K Filing
Carlisle Companies
Price145.13 EPS6
Shares58 P/E23
MCap8,363 P/FCF17
Net Debt1,590 EBIT489
TEV9,953 TEV/EBIT20
TTM 2019-09-30, in MM, except price, ratios
10-Q 2021-03-31 Filed 2021-04-27
10-K 2020-12-31 Filed 2021-02-11
10-Q 2020-09-30 Filed 2020-10-22
10-Q 2020-06-30 Filed 2020-07-23
10-Q 2020-03-31 Filed 2020-04-23
10-K 2019-12-31 Filed 2020-02-10
10-Q 2019-09-30 Filed 2019-10-24
10-Q 2019-06-30 Filed 2019-07-25
10-Q 2019-03-31 Filed 2019-04-25
10-K 2018-12-31 Filed 2019-02-14
10-Q 2018-09-30 Filed 2018-10-25
10-Q 2018-06-30 Filed 2018-07-26
10-Q 2018-03-31 Filed 2018-04-27
10-K 2017-12-31 Filed 2018-02-16
10-Q 2017-09-30 Filed 2017-10-25
10-Q 2017-06-30 Filed 2017-07-26
10-Q 2017-03-31 Filed 2017-04-28
10-K 2016-12-31 Filed 2017-02-13
10-Q 2016-09-30 Filed 2016-10-27
10-Q 2016-06-30 Filed 2016-07-26
10-Q 2016-03-31 Filed 2016-04-27
10-K 2015-12-31 Filed 2016-02-08
10-Q 2015-09-30 Filed 2015-10-21
10-Q 2015-06-30 Filed 2015-07-23
10-Q 2015-03-31 Filed 2015-04-23
10-K 2014-12-31 Filed 2015-02-10
10-Q 2014-09-30 Filed 2014-10-21
10-Q 2014-06-30 Filed 2014-07-22
10-Q 2014-03-31 Filed 2014-04-22
10-K 2013-12-31 Filed 2014-02-19
10-Q 2013-09-30 Filed 2013-10-22
10-Q 2013-06-30 Filed 2013-07-23
10-Q 2013-03-31 Filed 2013-04-24
10-K 2012-12-31 Filed 2013-02-12
10-Q 2012-09-30 Filed 2012-10-23
10-Q 2012-06-30 Filed 2012-07-24
10-Q 2012-03-31 Filed 2012-04-24
10-K 2011-12-31 Filed 2012-02-10
10-Q 2011-09-30 Filed 2011-10-25
10-Q 2011-06-30 Filed 2011-07-26
10-Q 2011-03-31 Filed 2011-04-26
10-K 2010-12-31 Filed 2011-02-16
10-Q 2010-09-30 Filed 2010-10-26
10-Q 2010-06-30 Filed 2010-07-27
10-Q 2010-03-31 Filed 2010-04-27
10-K 2009-12-31 Filed 2010-02-18
8-K 2021-02-12
8-K 2021-02-04
8-K 2021-02-02
8-K 2020-10-20
8-K 2020-07-21
8-K 2020-05-06
8-K 2020-04-21
8-K 2020-03-20
8-K 2020-02-28
8-K 2020-02-13
8-K 2020-02-04
8-K 2019-10-22
8-K 2019-07-23
8-K 2019-05-09
8-K 2019-04-23
8-K 2019-02-07
8-K 2019-02-05
8-K 2018-10-23
8-K 2018-09-12
8-K 2018-07-24
8-K 2018-05-03
8-K 2018-04-24
8-K 2018-03-20
8-K 2018-02-08
8-K 2018-02-06
8-K 2018-01-31

CSL 10Q Quarterly Report

Part I
Item 1. Financial Statements
Note 1 - Basis of Presentation
Note 2 - Segment Information
Note 3 - Acquisitions
Note 4 - Earnings per Share
Note 5 - Revenue Recognition
Note 6 - Stock - Based Compensation
Note 7 - Exit and Disposal and Other Restructuring Activities
Note 8 - Income Taxes
Note 9 - Inventories, Net
Note 10 - Goodwill and Other Intangible Assets, Net
Note 11 - Long - Term Debt
Note 12 - Employee Benefit Plans
Note 13 - Standard Product Warranties
Note 14 - Financial Instruments
Note 15 - Commitments and Contingencies
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 3. Quantitative and Qualitative Disclosure About Market Risk
Item 4. Controls and Procedures
Part II
Item 1. Legal Proceedings
Item 1A. Risk Factors
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
Item 3. Defaults Upon Senior Securities
Item 4. Mine Safety Disclosures
Item 5. Other Information
Item 6. Exhibits
EX-31.1 q12021-exhibit311.htm
EX-31.2 q12021-exhibit312.htm
EX-32.1 q12021-exhibit321.htm

Carlisle Companies Earnings 2021-03-31

Balance SheetIncome StatementCash Flow
10.08.06.04.02.00.02012201420172020
Assets, Equity
1.41.10.80.50.2-0.12012201420172020
Rev, G Profit, Net Income
0.80.50.2-0.2-0.5-0.82012201420172020
Ops, Inv, Fin

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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
FORM 10-Q
 
QUARTERLY REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

FOR THE QUARTERLY PERIOD ENDED March 31, 2021
 
Commission file number 1-9278
csl-20210331_g1.jpg
www.carlisle.com
CARLISLE COMPANIES INCORPORATED
(Exact name of registrant as specified in its charter)
Delaware
31-1168055
(State or other jurisdiction of incorporation or organization)
(I.R.S. Employer Identification No.)
(480) 781-5000
(Registrant's telephone number, including area code)
16430 North Scottsdale Road, Suite 400, Scottsdale, Arizona 85254
(Address of principal executive offices, including zip code)
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
Common stockCSLNew York Stock Exchange
Preferred stock purchase rightsn/aNew York Stock Exchange
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. 
YesNo ☐
 
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). 
YesNo
 
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.
Large accelerated filer Accelerated filer ☐
Non-accelerated filer Smaller reporting company  
Emerging growth company  
 
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
YesNo ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).
YesNo

On April 21, 2021, there were 52,191,863 shares of the registrant's common stock, par value $1.00 per share, outstanding.



Carlisle Companies Incorporated
Table of Contents
Page

2


PART I
Item 1. Financial Statements
Carlisle Companies Incorporated
Condensed Consolidated Statements of Income and Comprehensive Income (Unaudited)

Three Months Ended
March 31,
(in millions, except per share amounts)20212020
Revenues$1,029.0 $1,030.2 
Cost of goods sold767.3 751.8 
Selling and administrative expenses159.8 161.9 
Research and development expenses12.6 14.4 
Other operating income, net(0.2)(0.6)
Operating income89.5 102.7 
Interest expense, net19.2 18.9 
Loss on extinguishment of debt 8.8 
Interest income(0.5)(0.7)
Other non-operating expense (income), net3.9 (0.5)
Income before income taxes66.9 76.2 
Provision for income taxes14.7 14.4 
Net income$52.2 $61.8 
Earnings per share attributable to common shares:
Basic$0.98 $1.10 
Diluted$0.97 $1.09 
Average shares outstanding:
Basic53.0 55.8 
Diluted53.6 56.5 
Comprehensive income:
Net income$52.2 $61.8 
Other comprehensive loss:
Foreign currency losses(13.3)(28.3)
Amortization of unrecognized net periodic benefit costs, net of tax
1.2 1.0 
Other, net of tax(2.0)(18.2)
Other comprehensive loss(14.1)(45.5)
Comprehensive income$38.1 $16.3 
See accompanying Notes to Condensed Consolidated Financial Statements (Unaudited)
3


Carlisle Companies Incorporated
Condensed Consolidated Balance Sheets (Unaudited)
(in millions, except par values)March 31,
2021
December 31,
2020
ASSETS
Current assets:
Cash and cash equivalents$767.2 $902.2 
Receivables, net of allowance for credit losses of $6.3 million and $6.8 million, respectively
683.2 612.7 
Inventories, net528.2 503.5 
Contract assets77.1 84.5 
Prepaid expenses27.4 37.0 
Other current assets61.4 69.4 
Total current assets2,144.5 2,209.3 
Property, plant, and equipment, net764.4 774.1 
Goodwill, net1,735.5 1,738.2 
Other intangible assets, net1,000.8 1,034.8 
Other long-term assets107.0 110.0 
Total assets$5,752.2 $5,866.4 
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable$359.2 $317.6 
Accrued and other current liabilities266.8 295.0 
Contract liabilities32.9 32.5 
Current portion of debt1.2 1.1 
Total current liabilities660.1 646.2 
Long-term liabilities:
Long-term debt, less current portion2,081.0 2,080.2 
Contract liabilities238.1 235.8 
Other long-term liabilities361.2 366.5 
Total long-term liabilities2,680.3 2,682.5 
Shareholders' equity:
Preferred stock, $1 par value per share (5.0 shares authorized and unissued)
  
Common stock, $1 par value per share (200.0 shares authorized; 52.1 and 52.9 shares outstanding, respectively)
78.7 78.7 
Additional paid-in capital443.4 441.7 
Treasury shares, at cost (26.3 and 25.5 shares, respectively)
(1,951.6)(1,814.4)
Accumulated other comprehensive loss(111.1)(97.0)
Retained earnings3,952.4 3,928.7 
Total shareholders' equity2,411.8 2,537.7 
Total liabilities and equity$5,752.2 $5,866.4 
See accompanying Notes to Condensed Consolidated Financial Statements (Unaudited)
4


Carlisle Companies Incorporated
Condensed Consolidated Statements of Cash Flows (Unaudited)

Three Months Ended
March 31,
(in millions)
20212020
Operating activities:
Net income
$52.2 $61.8 
Reconciliation of net income to net cash provided by operating activities:
Depreciation
23.7 24.6 
Amortization
30.6 32.2 
Lease expense6.8 7.4 
Stock-based compensation
14.9 12.7 
Loss on extinguishment of debt 8.8 
Deferred taxes(1.1)(2.3)
Other operating activities, net
4.2 6.0 
Changes in assets and liabilities, excluding effects of acquisitions:
Receivables
(72.9)(8.3)
Inventories
(30.8)(64.9)
Contract assets8.2 (3.3)
Prepaid expenses and other assets
20.6 32.5 
Accounts payable
45.6 6.9 
Accrued and other current liabilities(24.7)(58.9)
Contract liabilities
2.9 6.9 
Other long-term liabilities
(12.6)(8.9)
Net cash provided by operating activities
67.6 53.2 
Investing activities:
Capital expenditures(20.0)(22.8)
Investment in securities(10.2) 
Acquisitions, net of cash acquired
 (2.4)
Other investing activities, net
1.8 0.9 
Net cash used in investing activities
(28.4)(24.3)
Financing activities:
Proceeds from notes 740.7 
Repayment of notes (258.5)
Borrowings from revolving credit facility
 500.0 
Financing costs (24.2)
Repurchases of common stock
(150.0)(120.6)
Dividends paid
(28.4)(28.3)
Proceeds from exercise of stock options
13.5 10.5 
Withholding tax paid related to stock-based compensation
(7.6)(6.4)
Other financing activities, net(0.3)(0.2)
Net cash (used in) provided by financing activities
(172.8)813.0 
Effect of foreign currency exchange rate changes on cash and cash equivalents
(1.4)(5.4)
Change in cash and cash equivalents(135.0)836.5 
Cash and cash equivalents at beginning of period902.2 351.2 
Cash and cash equivalents at end of period$767.2 $1,187.7 
See accompanying Notes to Condensed Consolidated Financial Statements (Unaudited)
5


Carlisle Companies Incorporated
Condensed Consolidated Statement of Shareholders’ Equity (Unaudited)

Common Stock
Additional Paid-In Capital
Accumulated Other Comprehensive Income (Loss)
Retained Earnings
Shares in Treasury
Total Shareholders' Equity
(in millions, except per share amounts)
Shares
Amount
Shares
Cost
Balance as of December 31, 201955.7 $78.7 $416.6 $(124.1)$3,721.3 22.7 $(1,449.7)$2,642.8 
Net income— — — — 61.8 — — 61.8 
Other comprehensive loss, net of tax
— — — (45.5)— — — (45.5)
Dividends - $0.50 per share
— — — — (28.3)— — (28.3)
Repurchases of common stock(1.0)— — — — 1.0 (125.3)(125.3)
Issuances and deferrals, net for stock based compensation(1)
0.2 — 5.5 — — (0.2)7.5 13.0 
Balance as of March 31, 202054.9 $78.7 $422.1 $(169.6)$3,754.8 23.5 $(1,567.5)$2,518.5 
Balance as of December 31, 202052.9 $78.7 $441.7 $(97.0)$3,928.7 25.5 $(1,814.4)$2,537.7 
Net income— — — — 52.2 — — 52.2 
Other comprehensive loss, net of tax
— — — (14.1)— — — (14.1)
Dividends - $0.525 per share
— — — — (28.5)— — (28.5)
Repurchases of common stock(1.0)— — — — 1.0 (150.0)(150.0)
Issuances and deferrals, net for stock based compensation(1)
0.2 — 1.7 — — (0.2)12.8 14.5 
Balance as of March 31, 202152.1 $78.7 $443.4 $(111.1)$3,952.4 26.3 $(1,951.6)$2,411.8 
(1)Issuances and deferrals, net for stock-based compensation reflects share activity related to option exercises, restricted and performance shares vested, and net issuances and deferrals associated with deferred compensation equity.
See accompanying Notes to Condensed Consolidated Financial Statements (Unaudited)
6


Carlisle Companies Incorporated
Notes to Condensed Consolidated Financial Statements (Unaudited)
Note 1—Basis of Presentation
The accompanying unaudited Condensed Consolidated Financial Statements have been prepared by Carlisle Companies Incorporated (the "Company" or "Carlisle"). The accompanying unaudited Condensed Consolidated Financial Statements do not include all disclosures as required by accounting principles generally accepted in the United States of America ("United States" or "U.S."), and should be read in conjunction with the Company’s audited Consolidated Financial Statements and notes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2020 (the "2020 Annual Report on Form 10-K").
The accompanying unaudited Condensed Consolidated Financial Statements are prepared in conformity with accounting principles generally accepted in the U.S. and, of necessity, include some amounts that are based upon management estimates and judgments. The accompanying unaudited Condensed Consolidated Financial Statements include assets, liabilities, revenues and expenses of all majority-owned subsidiaries. Intercompany transactions and balances are eliminated in consolidation.
In the Company's opinion, the accompanying unaudited Condensed Consolidated Financial Statements contain all adjustments, consisting solely of adjustments of a normal, recurring nature, necessary to present fairly the financial position, results of operations and cash flows for the periods presented.

Note 2—Segment Information
The Company reports its results of operations through the following four segments, each of which represents a reportable segment as follows:

Carlisle Construction Materials ("CCM")—this segment produces a complete range of building envelope products for commercial, industrial and residential buildings, including single-ply roofing, rigid foam insulations, spray polyurethane foam technologies, architectural metal, heating, ventilation and air conditioning ("HVAC") hardware and sealants, below-grade waterproofing, and air and vapor barrier systems focused on the weatherproofing and thermal performance of the building envelope.
Carlisle Interconnect Technologies ("CIT")—this segment produces high-performance wire and cable, including optical fiber, for the commercial aerospace, military and defense electronics, medical device, industrial, and test and measurement markets. CIT's product portfolio also includes sensors, connectors, contacts, cable assemblies, complex harnesses, racks, trays, and installation kits, in addition to engineering and certification services.
Carlisle Fluid Technologies ("CFT")—this segment produces highly engineered liquid, powder, sealants and adhesives finishing equipment and integrated system solutions for spraying, pumping, mixing, metering and curing of a variety of coatings used in the automotive manufacture, general industrial, protective coating, wood, specialty and automotive refinishing markets.
Carlisle Brake & Friction ("CBF")—this segment produces high performance and severe duty brake, clutch and transmission applications for the construction, agriculture, mining, aircraft, on-highway and other industrial markets.
A summary of segment information follows:
Three Months Ended March 31,
20212020
(in millions)
Revenues
Operating Income (Loss)
Revenues
Operating Income (Loss)
Carlisle Construction Materials
$719.3 $121.3 $676.4 $107.7 
Carlisle Interconnect Technologies
155.8 (10.7)224.5 16.4 
Carlisle Fluid Technologies
65.8 4.3 58.3 2.8 
Carlisle Brake & Friction
88.1 6.1 71.0 (3.8)
Segment total1,029.0 121.0 1,030.2 123.1 
Corporate and unallocated(1)
 (31.5) (20.4)
Total
$1,029.0 $89.5 $1,030.2 $102.7 
(1)Corporate operating loss includes other unallocated costs, primarily general corporate expenses.
7


Note 3—Acquisitions
Motion Tech Automation, LLC
On July 22, 2020, the Company acquired 100% of the equity of Motion Tech Automation, LLC ("MTA") for consideration of $33.3 million, including $0.3 million of cash acquired and post-closing adjustments, which were finalized in the third quarter of 2020. The acquired products and services include sensors, manufacturing services, distribution services and engineering services to packaging and label, life sciences, semiconductor, fluid handling, and test and measurement customers.

Consideration of $16.4 million has been preliminarily allocated to goodwill, $4.3 million to definite-lived intangible assets, $4.9 million to inventory, $2.7 million to accounts receivable and $1.3 million to accounts payable. In accordance with the purchase agreement, Carlisle is indemnified for up to $1.6 million, and recorded an indemnification asset of $1.5 million in other long-term assets relating to the indemnification for pre-acquisition debt and tax withholdings liabilities. The preliminary fair value and weighted average useful lives of the acquired definite-lived intangible assets are as follows:
(in millions)Fair ValueWeighted Average Useful Life
(in years)
Technologies$2.3 9
Customer relationships1.0 9
Trade names1.0 5
Total$4.3 
All of the $16.4 million preliminary value allocated to goodwill is deductible for tax purposes. Goodwill of $11.0 million, $2.8 million and $2.6 million has been preliminarily assigned to the CCM, CIT and CFT reporting units, respectively, which aligns with the reportable segments.
Note 4—Earnings Per Share
The Company’s restricted shares contain non-forfeitable rights to dividends and are considered participating securities for purposes of computing earnings per share pursuant to the two-class method. The computation below of earnings per share excludes income attributable to the unvested restricted shares from the numerator and excludes the dilutive impact of those underlying shares from the denominator.
The computation below of earnings per share includes the income attributable to the vested and deferred restricted shares and restricted stock units in the numerator and includes the dilutive impact of those underlying shares in the denominator.
Stock options are included in the calculation of diluted earnings per share utilizing the treasury stock method and performance share awards are included in the calculation of diluted earnings per share considering those are contingently issuable. Neither is considered to be a participating security as they do not contain non-forfeitable dividend rights.
8


Net income and share data used in the basic and diluted earnings per share computations using the two-class method follows:
Three Months Ended
March 31,
(in millions, except per share amounts)20212020
Net income$52.2 $61.8 
Less: dividends declared
(28.5)(28.3)
Undistributed earnings23.7 33.5 
Percent allocated to common shareholders(1)
99.7 %99.7 %
23.6 33.4 
Add: dividends declared on common stock, restricted share units and vested and deferred restricted and performance shares
28.4 28.2 
Net income attributable to common shares$52.0 $61.6 
Shares:
Basic weighted-average shares outstanding53.0 55.8 
Effect of dilutive securities:
Performance awards0.1 0.2 
Stock options0.5 0.5 
Diluted weighted-average shares outstanding
53.6 56.5 
Per share net income attributable to common shares:
Basic$0.98 $1.10 
Diluted$0.97 $1.09 
(1) Basic weighted-average common shares outstanding
53.0 55.8 
Basic weighted-average shares outstanding and unvested restricted shares expected to vest
53.2 56.0 
Percent allocated to common shareholders99.7 %99.7 %

Three Months Ended
March 31,
(in millions)20212020
Anti-dilutive stock options excluded from EPS calculation(1)
0.6 0.2 
(1)Represents stock options excluded from the calculation of diluted earnings per share, as such options’ assumed proceeds upon exercise would result in the repurchase of more shares than the underlying award.
Note 5—Revenue Recognition
The Company receives payment at the inception of the contract for separately priced extended service warranties, and revenue is deferred and recognized on a straight-line basis over the life of the contracts. Remaining performance obligations for extended service warranties represent the transaction price for the remaining stand-ready obligation to perform warranty services. A summary of estimated revenue expected to be recognized in the future related to performance obligations that are unsatisfied or partially unsatisfied as of March 31, 2021, follows:
(in millions)
Remainder of 202120222023202420252026Thereafter
Extended service warranties$17.5 $22.1 $20.9 $19.9 $19.0 $18.0 $143.5 
The Company has applied the practical expedient to not disclose information about remaining performance obligations that have original expected durations of one year or less.
9


Contract Balances
Contract liabilities relate to payments received in advance of performance under a contract, primarily related to extended service warranties in the CCM segment, systems contracts in the CFT segment and highly customized product contracts in the CIT segment. Contract liabilities are recognized as revenue as (or when) the Company performs under the contract. A summary of the change in contract liabilities for the three months ended March 31, follows:
(in millions)
20212020
Balance as of January 1$268.3 $247.4 
Revenue recognized(15.2)(13.3)
Revenue deferred17.9 20.1 
Balance as of March 31$271.0 $254.2 
Contract assets relate to the Company's right to payment for performance completed to date under a contract, primarily related to highly customized product contracts within the CIT and CFT segments. Accounts receivable are recorded when the right to payment becomes unconditional, which generally occurs over twelve months or less. A summary of the change in contract assets for the three months ended March 31, follows:
(in millions)
20212020
Balance as of January 1$84.5 $100.5 
Balance as of March 3177.1 103.6 
Change in contract assets$(7.4)$3.1 
Revenues by End-Market
A summary of revenues disaggregated by major end-market industries and reconciliation of disaggregated revenue by segment follows:
Three Months Ended March 31, 2021
(in millions)CCMCITCFTCBFTotal
General construction$674.1 $ $ $ $674.1 
Aerospace 65.9  3.9 69.8 
Heavy equipment20.3   71.9 92.2 
Medical 55.2   55.2 
Transportation  33.8 8.9 42.7 
General industrial and other24.9 34.7 32.0 3.4 95.0 
Total revenues$719.3 $155.8 $65.8 $88.1 $1,029.0 
Three Months Ended March 31, 2020
(in millions)CCMCITCFTCBFTotal
General construction
$635.8 $ $ $ $635.8 
Aerospace
 136.7  5.9 142.6 
Heavy equipment
21.5   54.1 75.6 
Medical  48.2   48.2 
Transportation
  35.3 8.2 43.5 
General industrial and other
19.1 39.6 23.0 2.8 84.5 
Total revenues
$676.4 $224.5 $58.3 $71.0 $1,030.2 
10


Revenues by Geographic Area
A summary of revenues based on the country to which the product was delivered and reconciliation of disaggregated revenue by segment follows:
Three Months Ended March 31, 2021
(in millions)CCMCITCFTCBFTotal
United States$626.3 $111.5 $30.6 $27.5 $795.9 
International:
Europe60.6 14.4 12.5 29.6 117.1 
Asia3.9 20.6 19.2 22.6 66.3 
North America (excluding U.S.)23.6 4.5 2.5 4.1 34.7 
Middle East and Africa3.4 2.6 0.4 0.3 6.7 
Other1.5 2.2 0.6 4.0 8.3 
Total international93.0 44.3 35.2 60.6 233.1 
Total revenues$719.3 $155.8 $65.8 $88.1 $1,029.0 
Three Months Ended March 31, 2020
(in millions)CCMCITCFTCBFTotal
United States$596.9 $161.4 $28.3 $30.7 $817.3 
International:
Europe51.1 19.3 10.4 19.4 100.2 
Asia3.3 18.4 16.9 15.1 53.7 
North America (excluding U.S.)19.6 12.4 2.0 2.9 36.9 
Middle East and Africa3.9 4.9 0.5 0.2 9.5 
Other1.6 8.1 0.2 2.7 12.6 
Total international79.5 63.1