JBT Marel (JBTM) 10-Q 31 Oct 19 2019 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2019	Oct. 24, 2019
Cover page.
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2019
Document Transition Report	false
Entity File Number	1-34036
Entity Registrant Name	John Bean Technologies Corporation
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	91-1650317
Entity Address, Address Line One	70 West Madison Street,
Entity Address, Address Line Two	Suite 4400
Entity Address, City or Town	Chicago,
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60602
City Area Code	312
Local Phone Number	861-5900
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	JBT
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		31,666,595
Entity Central Index Key	0001433660
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Amendment Flag	false

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Income Statement [Abstract]
Revenue	$ 489.4	$ 481.9	$ 1,400.2	$ 1,382.4
Operating expenses:
Cost of sales	341.8	346.8	970	1,003.4
Selling, general and administrative expense	97.7	86.9	293.1	261.5
Restructuring expense	1.3	11.6	11.5	32.8
Operating income	48.6	36.6	125.6	84.7
Pension expense, other than service cost	0.5	0	1.5	0.6
Interest expense, net	5.9	3.4	13.4	10.5
Income from continuing operations before income taxes	42.2	33.2	110.7	73.6
Income tax provision	8.7	6.8	23.5	12.1
Income from continuing operations	33.5	26.4	87.2	61.5
Loss from discontinued operations, net of taxes	0	0	0.3	0.3
Net income	$ 33.5	$ 26.4	$ 86.9	$ 61.2
Basic earnings per share:
Income from continuing operations (in dollars per share)	$ 1.05	$ 0.83	$ 2.74	$ 1.93
Loss from discontinued operations (in dollars per share)	0	0	0.01	0.01
Net income (in dollars per share)	1.05	0.83	2.73	1.92
Diluted earnings per share:
Income from continuing operations (in dollars per share)	1.04	0.82	2.72	1.91
Loss from discontinued operations (in dollars per share)	0	0	0.01	0.01
Net income (in dollars per share)	$ 1.04	$ 0.82	$ 2.71	$ 1.90

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Statement of Comprehensive Income [Abstract]
Net income	$ 33.5	$ 26.4	$ 86.9	$ 61.2
Other comprehensive (loss) income, net of income taxes
Foreign currency translation adjustments	(9.8)	(3.2)	(13.4)	(21)
Pension and other postretirement benefits adjustments	1.1	1.2	3.9	4
Derivatives designated as hedges	(0.2)	0	(1.8)	1.5
Other comprehensive loss	(8.9)	(2)	(11.3)	(15.5)
Comprehensive income	$ 24.6	$ 24.4	$ 75.6	$ 45.7

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($)	Sep. 30, 2019	Dec. 31, 2018
Current Assets:
Cash and cash equivalents	$ 49,100,000	$ 43,000,000
Trade receivables, net of allowances	274,400,000	253,400,000
Contract assets	80,300,000	70,300,000
Inventories	264,000,000	206,100,000
Other current assets	57,300,000	45,700,000
Total current assets	725,100,000	618,500,000
Property, plant and equipment, net of accumulated depreciation of $299.9 and $289.9, respectively	264,500,000	239,700,000
Goodwill	516,900,000	321,400,000
Intangible assets, net	325,900,000	213,900,000
Deferred income taxes	10,000,000	15,000,000
Other assets	76,400,000	34,000,000
Total Assets	1,918,800,000	1,442,500,000
Current Liabilities:
Short-term debt and current portion of long-term debt	1,600,000	500,000
Accounts payable, trade and other	186,800,000	191,200,000
Advance and progress payments	116,500,000	145,800,000
Other current liabilities	167,900,000	147,800,000
Total current liabilities	472,800,000	485,300,000
Long-term debt, less current portion	768,700,000	387,100,000
Accrued pension and other postretirement benefits, less current portion	61,200,000	72,500,000
Other liabilities	92,400,000	40,700,000
Commitments and contingencies (Note 12)
Stockholders' Equity:
Common stock, $0.01 par value; 120,000,000 shares authorized; September 30, 2019: 31,741,607 issued and 31,662,834 outstanding and December 31, 2018: 31,741,607 issued and 31,522,377 outstanding	300,000	300,000
Common stock held in treasury, at cost September 30, 2019: 78,773 shares and December 31, 2018: 219,230 shares	(14,500,000)	(19,300,000)
Additional paid-in capital	241,800,000	245,900,000
Retained earnings	493,900,000	416,500,000
Accumulated other comprehensive loss	(197,800,000)	(186,500,000)
Total stockholders' equity	523,700,000	456,900,000
Total Liabilities and Stockholders' Equity	$ 1,918,800,000	$ 1,442,500,000

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Property, plant and equipment, accumulated depreciation	$ 299.9	$ 289.9
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	120,000,000	120,000,000
Common stock, shares issued (in shares)	31,741,607	31,741,607
Common stock, shares outstanding (in shares)	31,662,834	31,522,377
Common stock held in treasury (in shares)	78,773	219,230

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Cash flows from operating activities:
Net income	$ 86,900,000	$ 61,200,000
Loss from discontinued operations, net of taxes	300,000	300,000
Income from continuing operations	87,200,000	61,500,000
Adjustments to reconcile income from continuing operations to cash provided by continuing operating activities:
Depreciation and amortization	47,500,000	43,100,000
Stock-based compensation	7,200,000	7,600,000
Other	4,900,000	(23,600,000)
Changes in operating assets and liabilities:
Trade receivables, net and contract assets	(16,200,000)	(18,500,000)
Inventories	(18,500,000)	(49,200,000)
Accounts payable, trade and other	(12,800,000)	16,400,000
Advance and progress payments	(37,100,000)	17,300,000
Accrued pension and other postretirement benefits, net	(7,200,000)	(18,300,000)
Other assets and liabilities, net	(19,900,000)	(9,700,000)
Cash provided by continuing operating activities	35,100,000	26,600,000
Cash required by discontinued operating activities	(200,000)	(600,000)
Cash provided by operating activities	34,900,000	26,000,000
Cash flows from investing activities:
Acquisitions, net of cash acquired	(368,400,000)	(57,600,000)
Capital expenditures	(29,200,000)	(28,500,000)
Proceeds from disposal of assets	1,300,000	1,800,000
Cash required by investing activities	(396,300,000)	(84,300,000)
Cash flows from financing activities:
Net proceeds from short-term debt	1,100,000	0
Payments in connection with modification of credit facilities	0	(468,600,000)
Net proceeds from credit facilities	387,000,000	576,000,000
Settlement of taxes withheld on equity compensation awards	(6,500,000)	(10,600,000)
Purchase of treasury stock	0	(12,000,000)
Deferred acquisition payments	(3,600,000)	(3,600,000)
Dividends	(9,500,000)	(9,800,000)
Other	0	(6,200,000)
Cash provided by financing activities	368,500,000	65,200,000
Effect of foreign exchange rate changes on cash and cash equivalents	(1,000,000)	(2,400,000)
Cash and cash equivalents, beginning of period	6,100,000	4,500,000
Cash and cash equivalents, beginning of period	43,000,000	34,000,000
Cash and cash equivalents, end of period	$ 49,100,000	$ 38,500,000

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Millions	Total	Common Stock	Common Stock Held in Treasury	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)
Beginning balance at Dec. 31, 2017	$ 441.9	$ 0.3	$ (4)	$ 252.2	$ 333.7	$ (140.3)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	61.2				61.2
Treasury Stock, Value	0		4	(4)
Common stock cash dividends, $0.10 per share	(9.8)				(9.8)
Foreign currency translation adjustments, net of income taxes	(21)					(21)
Derivatives designated as hedges, net of income taxes	1.5					1.5
Pension and other postretirement liability adjustments, net of income taxes	4					4
Stock-based compensation expense	7.6			7.6
Taxes withheld on issuance of stock-based awards	(10.6)			(10.6)
Share repurchases	(12)		(12)
Ending balance at Sep. 30, 2018	432.4	0.3	(12)	245.2	354.7	(155.8)
Beginning balance at Jun. 30, 2018	410.6	0.3	(12)	242.3	333.8	(153.8)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	26.4				26.4
Common stock cash dividends, $0.10 per share	(3.1)				(3.1)
Foreign currency translation adjustments, net of income taxes	(3.2)					(3.2)
Pension and other postretirement liability adjustments, net of income taxes	1.2					1.2
Stock-based compensation expense	2.9			2.9
Ending balance at Sep. 30, 2018	432.4	0.3	(12)	245.2	354.7	(155.8)
Beginning balance at Dec. 31, 2018	456.9	0.3	(19.3)	245.9	416.5	(186.5)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	86.9				86.9
Treasury Stock, Value	0		4.8	(4.8)
Common stock cash dividends, $0.10 per share	(9.5)				(9.5)
Foreign currency translation adjustments, net of income taxes	(13.4)					(13.4)
Derivatives designated as hedges, net of income taxes	(1.8)					(1.8)
Pension and other postretirement liability adjustments, net of income taxes	3.9					3.9
Stock-based compensation expense	7.2			7.2
Taxes withheld on issuance of stock-based awards	(6.5)			(6.5)
Ending balance at Sep. 30, 2019	523.7	0.3	(14.5)	241.8	493.9	(197.8)
Beginning balance at Jun. 30, 2019	500	0.3	(14.4)	239.3	463.7	(188.9)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	33.5				33.5
Treasury Stock, Value	0		(0.1)	0.1
Common stock cash dividends, $0.10 per share	(3.3)				(3.3)
Foreign currency translation adjustments, net of income taxes	(9.8)					(9.8)
Derivatives designated as hedges, net of income taxes	(0.2)					(0.2)
Pension and other postretirement liability adjustments, net of income taxes	1.1					1.1
Stock-based compensation expense	2.5			2.5
Taxes withheld on issuance of stock-based awards	(0.1)			(0.1)
Ending balance at Sep. 30, 2019	$ 523.7	$ 0.3	$ (14.5)	$ 241.8	$ 493.9	$ (197.8)

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) - USD ($) $ / shares in Thousands, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Statement of Stockholders' Equity [Abstract]
Common stock cash dividends (in usd per share)	$ 0	$ 0	$ 0	$ 0
Foreign currency, translation adjustments, tax	$ 0.2	$ 0	$ (0.6)	$ 0
Derivatives designated as hedges, tax	(0.5)	0	(0.6)	0
Pension and other postretirement liability adjustments, tax	$ 0.4	$ 0	$ 1	$ 0

Description of Business and Bas

Description of Business and Basis of Presentation	9 Months Ended
	Sep. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business and Basis of Presentation	DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION Description of Business John Bean Technologies Corporation and its majority-owned consolidated subsidiaries (the “Company,” “JBT,” “our,” “us,” or “we”) provide global technology solutions to high-value segments of the food and beverage and air transportation industries. The Company designs, produces and services sophisticated products and systems for multi-national and regional customers through JBT FoodTech and JBT AeroTech segments. The Company has manufacturing operations worldwide that are strategically located to facilitate delivery of its products and services to its customers. Basis of Presentation In accordance with Securities and Exchange Commission (“SEC”) rules for interim periods, the accompanying unaudited condensed consolidated financial statements (the “interim financial statements”) do not include all of the information and notes for complete financial statements as required by accounting principles generally accepted in the United States of America (“U.S. GAAP”). As such, the accompanying interim financial statements should be read in conjunction with the Annual Report on Form 10-K for the year ended December 31, 2018 , which provides a more complete description of the Company’s accounting policies, financial position, operating results, business, properties, and other matters. The year-end condensed consolidated Balance Sheet (the “Balance Sheet”) was derived from audited financial statements. In the opinion of management, the interim financial statements reflect all normal recurring adjustments necessary for a fair presentation of the Company's financial condition and operating results as of and for the periods presented. Revenue, expenses, assets and liabilities can vary during each quarter of the year. Therefore, the interim results and trends in the interim financial statements may not be representative of those for the full year or any future period. Use of estimates Preparation of financial statements that follow U.S. GAAP requires management to make estimates and judgments that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from these estimates. Recently adopted accounting standards Beginning in February 2016, the FASB issued ASU No. 2016-02, Leases ("ASC 842"), plus a number of related statements designed to clarify and interpret ASC 842. The core principle of the ASU is the requirement for lessees to report a right of use asset ("ROU asset") and a lease payment obligation on the Balance Sheet, but recognize expenses on their Income Statement in a manner similar to legacy accounting. For lessors, the guidance remains substantially unchanged from legacy U.S. GAAP. The Company designed disclosures to meet the objective of enabling users of financial statements to assess the amount, timing, and uncertainty of cash flows arising from leases. The Company adopted ASC 842 as of January 1, 2019, using the cumulative-effect transition method with the required modified retrospective approach. The cumulative-effect transition method enables an entity to record existing leases at the date of adoption without restating comparative periods; rather the cumulative effect of the change is recorded as an adjustment to equity, if needed, at the beginning of the year of adoption. The Company elected the following practical expedients as permitted per the guidance: • The ‘package of practical expedients’ which permits the Company not to reassess under the new standard its prior conclusions about lease identification, lease classification and initial direct costs. The Company has elected this package of practical expedients in its entirety. • The short-term lease recognition exemption for all leases that qualify. This means, for those leases that qualify, the Company will not recognize ROU assets or lease liabilities for existing short-term leases of assets in transition. • The practical expedient to not separate lease and non-lease components for all of its leases other than leases of vehicles and communication equipment given the predominance of the service component for these leases. • The use of hindsight to determine the lease term for existing leases and assessing the likelihood that a lessee renewal, termination or purchase option will be exercised. The adoption of ASC 842 resulted in recording ROU assets of $32.3 million in other assets and lease liabilities of $10.8 million in other current liabilities and $23.3 million in other liabilities, as of January 1, 2019. The difference between the ROU assets and lease liabilities is driven primarily by lease incentives that were reclassified from a long-term liability account to the ROU asset balance. The income tax accounting impact of ASC 842 adoption resulted in recording a deferred tax asset and deferred tax liability of $8.8 million as of January 1, 2019. The standard did not materially impact retained earnings or consolidated net income, and had no impact on cash flows. Recently issued accounting standards not yet adopted In August 2018, the FASB issued ASU 2018-13, Disclosure Framework— Changes to the Disclosure Requirements for Fair Value Measurement, which amends Topic 820, Fair Value Measurement. ASU 2018-13 removes, modifies, and adds disclosure requirements for fair value measurements. The ASU is effective for annual reporting periods, including interim periods within those annual periods, beginning after December 15, 2019, with early adoption permitted. The removed and modified disclosures will be adopted on a retrospective basis and the new disclosures will be adopted on a prospective basis. The Company is currently evaluating the impact of adopting ASU 2018-13 on its disclosures. In August 2018, the FASB issued ASU 2018-14, Compensation-Retirement Benefits-Defined Benefit Plans-General (Subtopic 715-20): Disclosure Framework-Changes to the Disclosure Requirements for Defined Benefit Plans . ASU 2018-14 removes, modifies, and adds disclosure requirements for defined benefit plans. The disclosure modifications in ASU 2018-14 will be applied on a retrospective basis. The ASU is effective for annual reporting periods ending after December 15, 2020, with early adoption permitted. The Company is currently evaluating the impact of adopting ASU 2018-14 on its disclosures.

Acquisitions

Acquisitions	9 Months Ended
	Sep. 30, 2019
Business Combinations [Abstract]
Acquisitions	ACQUISITIONS During 2019 and 2018 the Company acquired five businesses for an aggregate consideration of $442.8 million , net of cash acquired. A summary of the acquisitions made during the period is as follows: Date Type Company/Product Line Location (Near) Segment May 31, 2019 Stock Proseal UK Limited Adlington, UK JBT FoodTech A leading provider of tray sealing technology for the fresh produce, ready meals, proteins, sandwiches, and snack industries. May 31, 2019 Stock Prime Equipment Group, LLC Columbus, Ohio JBT FoodTech A manufacturer of turnkey primary and water re–use solutions for the poultry industry. February 1, 2019 Stock LEKTRO, Inc. Warrenton, Oregon JBT AeroTech A manufacturer of commercial aviation ground support equipment, including electric towbarless aircraft pushback tractors for narrow body and smaller aircrafts. July 12, 2018 Stock FTNON Almelo, Netherlands JBT FoodTech A manufacturer of equipment and solutions for the fresh produce, ready meals, and pet food industries. January 26, 2018 Stock Schröder Breidenbach, Germany JBT FoodTech A manufacturer of engineered processing solutions for the food industry. Each acquisition has been accounted for as a business combination. Tangible and identifiable intangible assets acquired and liabilities assumed were recorded at their respective estimated fair values. The excess of the consideration transferred over the estimated fair value of the net assets received has been recorded as goodwill. The factors that contributed to the recognition of goodwill primarily relate to acquisition-driven anticipated cost savings and revenue enhancement synergies coupled with the assembled workforce acquired. The following presents the allocation of acquisition consideration to the assets acquired and the liabilities assumed, based on their estimated values: Proseal (1) Prime (2) LEKTRO (3) FTNON (4) Schröder (4) Total (In millions) Financial assets $ 45.9 $ 13.3 $ 4.2 $ 17.2 $ 4.3 $ 84.9 Inventories 26.2 11.7 7.4 4.5 6.6 56.4 Property, plant and equipment 24.7 1.5 0.3 3.9 7.4 37.8 Other intangible assets (5) 90.5 28.4 19.4 19.0 4.2 161.5 Deferred taxes (15.6 ) — (5.0 ) (3.4 ) 0.4 (23.6 ) Financial liabilities (35.1 ) (22.3 ) (4.6 ) (20.6 ) (4.5 ) (87.1 ) Total identifiable net assets $ 136.6 $ 32.6 $ 21.7 $ 20.6 $ 18.4 $ 229.9 Cash consideration paid $ 264.9 $ 62.6 $ 48.3 $ 43.6 $ 20.3 $ 439.7 Contingent consideration (6) 14.7 1.3 — — — 16.0 Holdback payment due to seller — 0.9 — — — 0.9 Total consideration 279.6 64.8 48.3 43.6 20.3 456.6 Cash acquired 4.3 1.4 1.7 4.9 1.5 13.8 Net consideration $ 275.3 $ 63.4 $ 46.6 $ 38.7 $ 18.8 $ 442.8 Goodwill (7) $ 143.0 $ 32.2 $ 26.6 $ 23.0 $ 1.9 $ 226.7 (1) The purchase accounting for Proseal is provisional. The valuation of working capital balances, property, plant and equipment, intangibles, income tax balances and residual goodwill is not complete. These amounts are subject to adjustment as additional information is obtained within the measurement period (not to exceed 12 months from the acquisition date). During the quarter ended September 30, 2019 , the Company refined estimates for other intangibles by $(2.8) million , property, plant, and equipment by $2.0 million , inventory by $(0.7) million , and trade receivables by $(0.7) million . The impact of these adjustments was reflected as a net increase in goodwill of $2.2 million . These adjustments resulted in an immaterial impact to the consolidated statement of income. (2) The purchase accounting for Prime is provisional. The valuation of working capital balances, property, plant and equipment, intangibles, income tax balances and residual goodwill is not complete. These amounts are subject to adjustment as additional information is obtained within the measurement period (not to exceed 12 months from the acquisition date). During the quarter ended September 30, 2019 , the Company refined estimates for financial liabilities by $(9.4) million , inventory by $4.8 million , other intangibles by $1.9 million , financial assets by $(1.1) million , property, plant, and equipment by $(1.2) million . The impact of these adjustments was reflected as a net increase in goodwill of $5.0 million . These adjustments resulted in an immaterial impact to the consolidated statement of income. (3) The purchase accounting for LEKTRO is provisional. The valuation of intangible assets and taxes is not complete. These amounts are subject to adjustment as additional information is obtained within the measurement period (not to exceed 12 months from the acquisition date). During the quarter ended September 30, 2019 we had no significant measurement period adjustments for LEKTRO. (4) The purchase accounting for FTNON and Schröder was final as of June 30, 2019 and December 31, 2018, respectively. (5) The acquired intangible assets subject to amortization are being amortized on a straight-line basis over their estimated useful lives, which range from seven to twenty years . The intangible assets acquired in 2019 include customer relationships totaling $86.0 million ( 14 - year weighted average useful life), technology totaling $37.6 million ( 9 - year weighted average useful life), and tradenames totaling $14.7 million ( 20 - year weighted average useful life). (6) Proseal and Prime purchase agreements include contingent payments due to the sellers to the extent Proseal and Prime achieve certain earnings targets. Proseal earnings performance for the period from January 1, 2020 through December 31, 2020 would result in a payment of $17.7 million in the event earnout targets are met, and no payment if not met. Prime contingent payments are based on the achievement of earnings target ranges for the respective year, and would result in a payment ranging from $0 million to $1 million for the earnout period of calendar year 2019, and an additional payment of $0 million to $0.5 million for the earnout period of calendar year 2020. Refer to Note 9. Fair Value Of Financial Instruments for a description of how the values of these contingent consideration obligations were determined. (7) The Company expects goodwill of $34.8 million from these acquisitions to be deductible for income tax purposes. During the nine months ended September 30, 2019, Proseal generated revenue of $32.3 million and a loss of $0.9 million and remaining acquisitions in 2019 generated aggregate revenues of $37.3 million and aggregate income of $ 1.8 million . Pro forma Financial Information (unaudited) In 2019 , the Company's acquisition of Proseal was material to its overall results and as such is required under ASC Topic 805, Business Combinations, to present pro forma information. The following information reflects the results of the Company’s operations for the three and nine months ended September 30, 2019 and 2018 on a pro forma basis as if the acquisition of Proseal had been completed on January 1, 2018. Pro forma adjustments have been made to illustrate the incremental impact on earnings of interest costs on the borrowings to acquire the company, amortization expense related to acquire intangible assets, depreciation expense related to the fair value of the acquired depreciable tangible assets and the related tax impact associated with the incremental interest costs and amortization and depreciation expense. Three Months Ended September 30, Nine Months Ended September 30, (In millions, except per share data) 2019 2018 2019 2018 Revenue Pro forma $ 489.4 $ 504.7 $ 1,438.6 $ 1,452.2 As reported 489.4 481.9 1,400.2 1,382.4 Net Earnings Pro forma $ 37.4 $ 27.5 $ 93.4 $ 61.0 As reported 33.5 26.4 87.2 61.5 Net Earnings from Continuing Operations Per Share Pro forma Basic $ 1.17 $ 0.86 $ 2.93 $ 1.91 Fully diluted 1.17 0.86 2.91 1.89 As reported Basic $ 1.05 $ 0.83 $ 2.74 $ 1.93 Fully diluted 1.04 0.82 2.72 1.91 The unaudited pro forma information is provided for illustrative purposes only and does not purport to represent what the Company's consolidated results of operations would have been had the transaction actually occurred as of January 1, 2018, and does not purport to project actual consolidated results of operations.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	9 Months Ended
	Sep. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	GOODWILL AND INTANGIBLE ASSETS The changes in the carrying amount of goodwill by business segment were as follows: (In millions) JBT FoodTech JBT AeroTech Total Balance as of December 31, 2018 $ 310.3 $ 11.1 $ 321.4 Acquisitions 175.2 26.6 201.8 Currency translation (6.1 ) (0.2 ) (6.3 ) Balance as of September 30, 2019 $ 479.4 $ 37.5 $ 516.9 Intangible assets consisted of the following: September 30, 2019 December 31, 2018 (In millions) Gross carrying amount Accumulated amortization Gross carrying amount Accumulated amortization Customer relationship $ 248.4 $ 56.7 $ 165.5 $ 45.2 Patents and acquired technology 134.5 44.3 99.8 38.2 Trademarks 36.8 10.9 23.1 10.3 Non-amortizing intangible assets 15.4 — 15.6 — Other 14.6 11.9 14.4 10.8 Total intangible assets $ 449.7 $ 123.8 $ 318.4 $ 104.5

Inventories

Inventories	9 Months Ended
	Sep. 30, 2019
Inventory Disclosure [Abstract]
Inventories	INVENTORIES Inventories consisted of the following: (In millions) September 30, 2019 December 31, 2018 Raw materials $ 106.0 $ 82.1 Work in process 69.7 70.6 Finished goods 158.6 118.8 Gross inventories before LIFO reserves and valuation adjustments 334.3 271.5 LIFO reserves (50.1 ) (48.2 ) Valuation adjustments (20.2 ) (17.2 ) Net inventories $ 264.0 $ 206.1

Pension

Pension	9 Months Ended
	Sep. 30, 2019
Retirement Benefits [Abstract]
Pension	PENSION Components of net periodic benefit cost were as follows: Three Months Ended Nine Months Ended September 30, (In millions) 2019 2018 2019 2018 Service cost $ 0.4 $ 0.4 $ 1.3 $ 1.4 Interest cost 2.9 2.7 8.4 8.1 Expected return on plan assets (3.8 ) (4.4 ) (11.4 ) (12.9 ) Settlement charge — — — 0.4 Amortization of net actuarial losses 1.4 1.7 4.5 5.0 Net periodic cost $ 0.9 $ 0.4 $ 2.8 $ 2.0 The Company expects to contribute $8.1 million to its pension plans in 2019 , $6.0 million of which would be contributed to its U.S. qualified pension plan. The Company contributed $6.0 million to its U.S. qualified pension plan during the nine months ended September 30, 2019

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	9 Months Ended
	Sep. 30, 2019
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) Accumulated other comprehensive income or loss (“AOCI”) represents the cumulative balance of other comprehensive income, net of tax, as of the Balance Sheet date. For the Company, AOCI is composed of adjustments related to pension and other postretirement benefit plans, derivatives designated as hedges, and foreign currency translation adjustments. Changes in the AOCI balances for the three months ended September 30, 2019 and 2018 by component are shown in the following tables: Pension and Other Postretirement Benefits (1) Derivatives Designated as Hedges (1) Foreign Currency Translation (1) Total (1) (In millions) Beginning balance, June 30, 2019 $ (137.6 ) $ 0.4 $ (51.7 ) $ (188.9 ) Other comprehensive income (loss) before reclassification — 0.1 (9.3 ) (9.2 ) Amounts reclassified from accumulated other comprehensive income 1.1 (0.3 ) (0.5 ) 0.3 Ending balance, September 30, 2019 $ (136.5 ) $ 0.2 $ (61.5 ) $ (197.8 ) (1) All amounts are net of income taxes. Reclassification adjustments from AOCI into earnings for pension and other postretirement benefit plans for the three months ended September 30, 2019 were $1.3 million of charges to pension expense, other than service cost, net of $0.2 million in benefit for income taxes. Reclassification adjustments for derivatives designated as hedges for the same period were $0.3 million of benefit in interest expense, net of $0.0 million income tax provision. Reclassification adjustments for foreign currency translation related to net investment hedges for the three months ended September 30, 2019 were $0.7 million of benefit in interest expense, net of $0.2 million income tax provision. Pension and Other Postretirement Benefits (1) Derivatives Designated as Hedges (1) Foreign Currency Translation Total (1) (In millions) Beginning balance, June 30, 2018 $ (111.1 ) $ 2.9 $ (45.6 ) $ (153.8 ) Other comprehensive income (loss) before reclassification — 0.3 (3.2 ) (2.9 ) Amounts reclassified from accumulated other comprehensive income 1.2 (0.3 ) — 0.9 Ending balance, September 30, 2018 $ (109.9 ) $ 2.9 $ (48.8 ) $ (155.8 ) (1) All amounts are net of income taxes. Reclassification adjustments from AOCI into earnings for pension and other postretirement benefit plans for the three months ended September 30, 2018 were $1.7 million of charges to pension expense, other than service cost, net of $0.5 million in provision for income taxes. Reclassification adjustments for derivatives designated as hedges for the same period were $(0.4) million of charges in interest expense, net of $0.1 million in provision for income taxes. Changes in the AOCI balances for the nine months ended September 30, 2019 and 2018 by component are shown in the following tables: Pension and Other Postretirement Benefits (1) Derivatives Designated as Hedges (1) Foreign Currency Translation (1) Total (1) (In millions) Beginning balance, December 31, 2018 $ (140.4 ) $ 2.0 $ (48.1 ) $ (186.5 ) Other comprehensive income (loss) before reclassification 0.4 (0.8 ) (11.9 ) (12.3 ) Amounts reclassified from accumulated other comprehensive income 3.5 (1.0 ) (1.5 ) 1.0 Ending balance, Ending balance, September 30, 2019 $ (136.5 ) $ 0.2 $ (61.5 ) $ (197.8 ) (1) All amounts are net of income taxes. Reclassification adjustments from AOCI into earnings for pension and other postretirement benefit plans for the nine months ended September 30, 2019 were $4.5 million of charges in pension expense, other than service cost, net of $1.0 million benefit for income taxes. Reclassification adjustments for derivatives designated as hedges for the same period were $1.3 million of charges in interest expense, net of $0.3 million in benefit for income taxes. Reclassification adjustments for foreign currency translation related to net investment hedges for the nine months ended September 30, 2019 were $2.1 million of benefit in interest expense, net of $0.6 million income tax provision. Pension and Other Postretirement Benefits (1) Derivatives Designated as Hedges (1) Foreign Currency Translation (1) Total (1) (In millions) Beginning balance, December 31, 2017 $ (113.9 ) $ 1.4 $ (27.8 ) $ (140.3 ) Other comprehensive income (loss) before reclassification — 1.9 (21.0 ) (19.1 ) Amounts reclassified from accumulated other comprehensive income 4.0 (0.4 ) — 3.6 Ending balance, Ending balance, September 30, 2018 $ (109.9 ) $ 2.9 $ (48.8 ) $ (155.8 ) (1) All amounts are net of income taxes. Reclassification adjustments from AOCI into earnings for pension and other postretirement benefit plans for the nine months ended September 30, 2018 were $5.3 million of charges to pension expense, other than service cost, net of $1.3 million in provision for income taxes. Reclassification adjustments for derivatives designated as hedges for the same period were $(0.6) million of charges in interest expense, net of $0.2 million

Revenue Recognition (Notes)

Revenue Recognition (Notes)	9 Months Ended
	Sep. 30, 2019
Revenue from Contract with Customer [Abstract]
Revenue Recognition	REVENUE RECOGNITION Revenue is measured based on consideration specified in a contract with a customer, and excludes any sales incentives and amounts collected on behalf of third parties when the Company is acting in an agent capacity. The Company recognizes revenue when it satisfies a performance obligation by transferring control of a product or service to a customer. Performance Obligations & Contract Estimates A performance obligation is a promise in a contract to transfer a distinct good or service to the customer. A contract’s transaction price is allocated to each distinct performance obligation based on its respective stand-alone selling price and recognized as revenue when, or as, the performance obligation is satisfied. A large portion of revenue across the Company is derived from manufactured equipment, which may be customized to meet customer specifications. The Company's contracts with customers in both segments often include multiple promised goods and/or services. For instance, a contract may include equipment, installation, optional warranties, periodic service calls, etc. The Company frequently has contracts for which the equipment and installation are considered a single performance obligation. In these instances the installation services are not separately identifiable as the installation goes above and beyond the basic assembly, set-up and testing and therefore significantly customizes or modifies the equipment. However, the Company also has contracts where the installation services are deemed to be separately identifiable as the nature of these services are considered basic assembly, set-up and testing, and are therefore deemed to be a separate performance obligation. This generally occurs in contracts where the Company manufactures standard equipment. When a performance obligation is separately identifiable, as defined in ASC 606, the Company allocates a portion of the contract price to the obligation and recognize it separately from the other performance obligations. Contract price allocation among multiple performance obligations is based on the relative standalone selling price of each distinct good or service in the contract. When not sold separately, an estimate of the standalone selling price is determined using expected cost plus a reasonable margin. The timing of revenue recognition for each performance obligation is either over time as control transfers or at a point in time. The Company recognizes revenue over time for contracts that provide: service over a period of time, for refurbishments of customer-owned equipment, and for highly customized equipment for which the Company has a contractual, enforceable right to collect payment upon customer cancellation for performance completed to date. Revenue generated from standard equipment, highly customized equipment contracts without an enforceable right to payment for performance completed to date, as well as aftermarket parts and services sales, are recognized at a point in time. The Company utilizes the input method of “cost-to-cost” to recognize revenue over time. The Company measures progress based on costs incurred to date relative to total estimated cost at completion. Incurred cost represents work performed, which corresponds with, and therefore depicts, the transfer of control to the customer. Contract costs include labor, material, and certain allocated overhead expense. Cost estimates are based on various assumptions to project the outcome of future events; including labor productivity and availability, the complexity of the work to be performed, the cost of materials, and the performance of subcontractors. Revenue attributable to equipment which qualifies as point in time is recognized when the Company's customers take control of the asset. For equipment where installation is separately identifiable, the Company generally determines that control transfers when the customer has obtained legal title and the risks and rewards of ownership, which is dependent upon the shipping terms within the contract. For customized equipment where installation is not separately identifiable, but where the Company does not have an enforceable right to payment for performance completed to-date, it defines control transfer as the point in time in which it is able to objectively verify that the customer has the capability of full beneficial use of the asset as intended per the contract. Service revenue is recognized over time either proportionately over the period of the underlying contract or when services are complete, depending on the terms of the arrangement. The Company generally bills customers in advance, and progress billings generally are issued upon the completion of certain phases of the work as stipulated in the contract. The Company may extend credit to customers in line with industry standards where it is strategically advantageous. Within the JBT AeroTech segment, maintenance and repair service for baggage handling systems, facilities, gate systems, and ground support equipment is provided. The timing of contract billings is concurrent with the completion of the services, and therefore the Company has availed itself of the practical expedient that allows it to recognize revenue commensurate with the amount to which it has a right to invoice, which corresponds directly to the value to the customer of performance completed to date. Transaction price allocated to the remaining performance obligations The majority of the Company's contracts are completed within twelve months. For performance obligations that extend beyond one year, the Company had $239.5 million of remaining performance obligations as of September 30, 2019 . The Company expects to completed these obligations and recognize 37% as revenue in 2019, 50% in 2020, and the remainder in 2021. The Company has elected the following optional exemptions from the remaining performance obligation disclosures: • Contracts that have an original expected duration of one year or less; and • Performance obligations related to revenue recognized over time using the as-invoiced practical expedient. Disaggregation of Revenue In the following table, revenue is disaggregated by type of good or service and primary geographical market. The table also includes a reconciliation of the disaggregated revenue with the reportable segments. Three Months Ended Nine Months Ended September 30, 2019 September 30, 2019 (In millions) JBT FoodTech JBT AeroTech JBT FoodTech JBT AeroTech Type of Good or Service Recurring (1) $ 150.0 $ 49.5 $ 428.7 $ 152.3 Non-recurring (1) 184.3 105.5 543.5 275.5 Total 334.3 155.0 972.2 427.8 Geographical Region (2) North America 167.8 134.0 503.5 353.9 Europe, Middle East and Africa 98.4 15.8 269.4 59.3 Asia Pacific 42.6 4.4 124.3 12.5 Latin America 25.5 0.8 75.0 2.1 Total 334.3 155.0 972.2 427.8 Timing of Recognition (3) Point in Time 150.4 88.7 456.4 243.8 Over Time 183.9 66.3 515.8 184.0 Total 334.3 155.0 972.2 427.8 Three Months Ended Nine Months Ended September 30, 2018 September 30, 2018 (In millions) JBT FoodTech JBT AeroTech JBT FoodTech JBT AeroTech Type of Good or Service Recurring (1) $ 129.4 $ 45.7 $ 387.6 $ 135.1 Non-recurring (1) 203.1 103.8 610.1 249.5 Total 332.5 149.5 997.7 384.6 Geographical Region (2) North America 174.7 105.2 501.5 298.2 Europe, Middle East and Africa 101.7 32.8 308.1 58.4 Asia Pacific 27.7 9.2 126.9 25.2 Latin America 28.4 2.3 61.2 2.8 Total 332.5 149.5 997.7 384.6 Timing of Recognition (3) Point in Time 211.7 101.7 563.5 243.2 Over Time 120.8 47.8 434.2 141.4 Total 332.5 149.5 997.7 384.6 (1) Aftermarket parts and services and revenue from leasing contracts are considered recurring revenue. Non-recurring revenue includes new equipment and installation. (2) Geographical region represents the region in which the end customer resides. (3) These amounts include the transition impacts from the adoption of ASC 606 that were recognized throughout the year. The majority of the impact was driven by "previously recognized" amounts where installation was completed in 2018 and revenue on the full contract was recognized, however the same contract was previously recognized under legacy GAAP upon shipment in 2017. Contract balances The timing of revenue recognition, billings and cash collections results in trade receivables, contract assets, and advance and progress payments (contract liabilities). Contract assets exist when revenue recognition occurs prior to billings. Contract assets are transferred to trade receivables when the right to payment becomes unconditional (i.e., when receipt of the amount is dependent only on the passage of time). Conversely, the Company often receives payments from its customers before revenue is recognized, resulting in contract liabilities. These assets and liabilities are reported on the Balance Sheet as contract assets and within advance and progress payments, respectively, on a contract-by-contract net basis at the end of each reporting period. Contract asset and liability balances for the period were as follows: Balances as of (In millions) September 30, 2019 December 31, 2018 Contract assets $ 80.3 $ 70.3 Contract liabilities 86.6 124.5 In the nine months ended September 30, 2019 , the Company recognized $104.3 million of the amount included in contract liabilities at December 31, 2018 into revenue. Additionally, the Company assumed contract liabilities of $11.4 million

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2019
Earnings Per Share [Abstract]
Earnings Per Share	EARNINGS PER SHARE The following table sets forth the computation of basic and diluted earnings per share from continuing operations for the respective periods and basic and diluted shares outstanding: Three Months Ended Nine Months Ended September 30, (In millions, except per share data) 2019 2018 2019 2018 Basic earnings per share: Income from continuing operations $ 33.5 $ 26.4 $ 87.2 $ 61.5 Weighted average number of shares outstanding 31.9 31.9 31.9 31.9 Basic earnings per share from continuing operations $ 1.05 $ 0.83 $ 2.74 $ 1.93 Diluted earnings per share: Income from continuing operations $ 33.5 $ 26.4 $ 87.2 $ 61.5 Weighted average number of shares outstanding 31.9 31.9 31.9 31.9 Effect of dilutive securities: Restricted stock 0.2 0.2 0.1 0.3 Total shares and dilutive securities 32.1 32.1 32.0 32.2 Diluted earnings per share from continuing operations $ 1.04 $ 0.82 $ 2.72 $ 1.91

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Sep. 30, 2019
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	FAIR VALUE OF FINANCIAL INSTRUMENTS The fair value framework requires the categorization of assets and liabilities into three levels based upon the assumptions (inputs) used to price the assets or liabilities. Level 1 provides the most reliable measure of fair value, whereas Level 3 generally requires significant management judgment. The three levels are defined as follows: • Level 1 : Unadjusted quoted prices in active markets for identical assets and liabilities that the Company can assess at the measurement date. • Level 2 : Observable inputs other than those included in Level 1 that are observable for the asset or liability, either directly or indirectly. For example, quoted prices for similar assets or liabilities in active markets or quoted prices for identical assets or liabilities in inactive markets. • Level 3 : Unobservable inputs reflecting management’s own assumptions about the inputs used in pricing the asset or liability. Financial assets and financial liabilities measured at fair value on a recurring basis are as follows: As of September 30, 2019 As of December 31, 2018 (In millions) Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Assets: Investments $ 13.6 $ 13.6 $ — $ — $ 12.3 $ 12.3 $ — $ — Derivatives 13.6 — 13.6 — 7.7 — 7.7 — Total assets $ 27.2 $ 13.6 $ 13.6 $ — $ 20.0 $ 12.3 $ 7.7 $ — Liabilities: Derivatives $ 6.6 $ — $ 6.6 $ — $ 2.0 $ — $ 2.0 $ — Contingent consideration 15.8 — — 15.8 — — — — Total liabilities $ 22.4 $ — $ 6.6 $ 15.8 $ 2.0 $ — $ 2.0 $ — Investments represent securities held in a trust for the non-qualified deferred compensation plan. Investments are classified as trading securities and are valued based on quoted prices in active markets for identical assets that the Company has the ability to access. Investments are reported separately in other assets on the Balance Sheet. Investments include an unrealized gain of an immaterial amount as of September 30, 2019 and unrealized loss of $2.4 million as of December 31, 2018 . The Company uses the income approach to measure the fair value of derivative instruments on a recurring basis. This approach calculates the present value of the future cash flow by measuring the change between the derivative contract rate and the published market indicative currency rate, multiplied by the contract notional values, and applying an appropriate discount rate as well as a factor of credit risk. Contingent consideration obligation represents the estimated fair value of the additional consideration payable in connection with the Company's acquisitions of Proseal and Prime completed in the second quarter of 2019. The Company estimated the acquisition date fair value of the contingent consideration obligation for Proseal using a Monte Carlo simulation, and a scenario based method for Prime. The significant unobservable inputs used in the fair value measurement of the contingent consideration obligations were the acquired company's projected performance, a risk-adjusted discount rate and performance volatility driven by industry peers. At each reporting date, the Company revalues the contingent consideration obligations to their fair values and records any changes in fair value within selling, general and administrative expenses in the Income Statement. During the quarter ended September 30, 2019 , the change in fair value of contingent consideration obligations was not material. The fair value of contingent consideration obligations as of September 30, 2019 was $15.8 million with $14.9 million included in other liabilities and $0.9 million included in other current liabilities within the Balance Sheet. The carrying amounts of cash and cash equivalents, trade receivables and payables, as well as financial instruments included in other current assets and other current liabilities, approximate fair values because of their short-term maturities. The carrying values of the Company's long-term debt approximate their fair values due to their variable interest rates.

Derivative Financial Instrument

Derivative Financial Instruments and Risk Management	9 Months Ended
	Sep. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments and Risk Management	DERIVATIVE FINANCIAL INSTRUMENTS AND RISK MANAGEMENT Derivative Financial Instruments All derivatives are recorded as other assets or liabilities in the Balance Sheet at their respective fair values. For derivatives designated as cash flow hedges, the unrealized gain or loss related to the derivatives are recorded in Other comprehensive income (loss) until the hedged transaction affects earnings. the Company assesses at inception of the hedge, whether the derivative in the hedging transaction will be highly effective in offsetting changes in cash flows of the hedged item. Changes in the fair value of derivatives that do not meet the criteria for designation as a hedge are recognized in earnings. Foreign Exchange: the Company manufactures and sells products in a number of countries throughout the world and, as a result, the Company is exposed to movements in foreign currency exchange rates. Major foreign currency exposures involve the markets in Western Europe, South America and Asia. Some of the Company's sales and purchase contracts contain embedded derivatives due to the nature of doing business in certain jurisdictions, which are taken into consideration as part of the Company's risk management policy. The purpose of the Company's foreign currency hedging activities is to manage the economic impact of exchange rate volatility associated with anticipated foreign currency purchases and sales made in the normal course of business. The Company primarily utilizes forward foreign exchange contracts with maturities of less than 2 years in managing this foreign exchange rate risk. The Company has not designated these forward foreign exchange contracts, which had a notional value at September 30, 2019 of $565.1 million , as hedges and therefore do not apply hedge accounting. The following table presents the fair value of foreign currency derivatives and embedded derivatives included within the Balance Sheet: As of September 30, 2019 As of December 31, 2018 (In millions) Derivative Assets Derivative Liabilities Derivative Assets Derivative Liabilities Total $ 4.9 $ 6.8 $ 3.7 $ 2.1 A master netting arrangement allows counterparties to net settle amounts owed to each other as a result of separate offsetting derivative transactions. The Company enters into master netting arrangements with its counterparties when possible to mitigate credit risk in derivative transactions by permitting the Company to net settle for transactions with the same counterparty. However, it does not net settle with such counterparties. As a result, derivatives at their gross fair values in the Balance Sheet are presented. As of September 30, 2019 and December 31, 2018 , information related to these offsetting arrangements was as follows: (In millions) As of September 30, 2019 Offsetting of Assets Gross Amounts of Recognized Assets Gross Amounts Offset in the Consolidated Balance Sheet Net Presented in the Consolidated Balance Sheet Amount Subject to Master Netting Agreement Net Amount Derivatives $ 13.6 $ — $ 13.6 $ (2.3 ) $ 11.3 (In millions) As of September 30, 2019 Offsetting of Liabilities Gross Amounts of Recognized Liabilities Gross Amounts Offset in the Consolidated Balance Sheet Net Presented in the Consolidated Balance Sheet Amount Subject to Master Netting Agreement Net Amount Derivatives $ 6.6 $ — $ 6.6 $ (2.3 ) $ 4.3 (In millions) As of December 31, 2018 Offsetting of Assets Gross Amounts of Recognized Assets Gross Amounts Offset in the Consolidated Balance Sheet Net Presented in the Consolidated Balance Sheet Amount Subject to Master Netting Agreement Net Amount Derivatives $ 7.7 $ — $ 7.7 $ (1.5 ) $ 6.2 (In millions) As of December 31, 2018 Offsetting of Liabilities Gross Amounts of Recognized Liabilities Gross Amounts Offset in the Consolidated Balance Sheet Net Presented in the Consolidated Balance Sheet Amount Subject to Master Netting Agreement Net Amount Derivatives $ 2.0 $ — $ 2.0 $ (1.5 ) $ 0.5 The following table presents the location and amount of the gain (loss) on foreign currency derivatives and on the remeasurement of assets and liabilities denominated in foreign currencies, as well as the net impact recognized in the Income Statement: Derivatives Not Designated as Hedging Instruments Location of Gain (Loss) Recognized in Income on Derivatives Amount of (Loss) Gain Recognized in Income on Derivatives Three Months Ended Nine Months Ended September 30, (In millions) 2019 2018 2019 2018 Foreign exchange contracts Revenue $ (2.2 ) $ (0.8 ) $ (5.2 ) $ (4.3 ) Foreign exchange contracts Cost of sales 1.3 (0.1 ) 2.5 0.1 Foreign exchange contracts Selling, general and administrative expense (0.7 ) 0.1 (2.5 ) 0.4 Total (1.6 ) (0.8 ) (5.2 ) (3.8 ) Remeasurement of assets and liabilities in foreign currencies 0.5 0.7 2.1 2.2 Net gain (loss) on foreign currency transactions $ (1.1 ) $ (0.1 ) $ (3.1 ) $ (1.6 ) Interest Rates : The Company has entered into three interest rate swaps to fix the interest rate applicable to certain of its variable-rate debt. The agreements swap one-month LIBOR for fixed rates. The Company has designated these swaps as cash flow hedges and all changes in fair value of the swaps are recognized in accumulated other comprehensive income (loss). At September 30, 2019 , the fair value of these derivatives designated as cash flow hedges were recorded in the Balance Sheet as other current assets of $0.1 million , other assets of $0.1 million , and as accumulated other comprehensive income, net of tax, of $0.2 million . Net Investment: The Company has entered into a cross currency swap agreement that synthetically swaps $116.4 million of fixed rate debt to Euro denominated fixed rate debt. The agreement is designated as a net investment hedge for accounting purposes. Accordingly, the gain or loss on this derivative instrument is included in the foreign currency translation component of other comprehensive income until the net investment is sold, diluted, or liquidated. Coupons received for the cross currency swap are excluded from the net investment hedge effectiveness assessment and are recorded in interest expense, net on the condensed consolidated statements of income. For the nine months ended September 30, 2019 , gains recorded in interest expense, net under the cross currency swap agreement were $2.1 million . At September 30, 2019 , the fair value of these derivatives designated as net investment hedges were recorded in the Balance Sheet as other assets of $8.6 million and as accumulated other comprehensive income, net of tax, of $6.4 million . Refer to Note 9. Fair Value Of Financial Instruments for a description of how the values of the above financial instruments are determined. Credit Risk By their nature, financial instruments involve risk including credit risk for non-performance by counterparties. Financial instruments that potentially subject the Company to credit risk primarily consist of trade receivables and derivative contracts. The Company manages the credit risk on financial instruments by transacting only with financially secure counterparties, requiring credit approvals and establishing credit limits, and monitoring counterparties’ financial condition. Maximum exposure to credit loss in the event of non-performance by the counterparty, for all receivables and derivative contracts as of September 30, 2019 , is limited to the amount drawn and outstanding on the financial instrument. Allowances for losses are established based on collectability assessments.

Leases

Leases	9 Months Ended
	Sep. 30, 2019
Leases [Abstract]
Leases	LEASES Lessee Accounting The Company adopted ASC 842 on January 1, 2019 and included below is the accounting policy for lessee accounting. The Company leases office space, manufacturing facilities and various types of manufacturing and data processing equipment. Leases of real estate generally provide that the Company pays for repairs, property taxes and insurance. At the inception of an arrangement, the Company determines whether the arrangement is or contains a lease based on whether the contract conveys the right to control the use of identified property, plant or equipment for a period of time in exchange for consideration. Leases are classified as operating or finance leases at the commencement date of the lease. Operating leases are included in operating lease ROU assets, other current liabilities, and operating lease liabilities in the consolidated Balance Sheet, which are reported within other assets, other current liabilities and other liabilities, respectively. Lease liabilities are classified between current and long-term liabilities based on their payment terms. The ROU asset balance for finance leases is included in property, plant, and equipment, net in the Balance Sheet. Per the standard, the Company has elected not to recognize leases with terms of less than one year on the Balance Sheet. ROU assets represent the Company's right to use an underlying asset for the lease term and lease liabilities represent an obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. As the implicit rate is generally not readily determinable for most of its leases, the Company uses its incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. The incremental borrowing rate was determined based on the rate of interest that the Company would have to pay to borrow an amount equal to the lease payments on a collateralized basis over a similar term. The Company used an unsecured borrowing rate and risk-adjust that rate to approximate a collateralized rate. The operating lease ROU asset also includes prepaid rent and reflects the unamortized balance of lease incentives. The Company's leases may include renewal and termination options, which are included in the lease term if we conclude that it is reasonably certain that we will exercise the option. Lease expense for operating leases is recognized on a straight-line basis over the lease term. The Company elected the practical expedient to not separate lease and non-lease components for leases other than leases of vehicles and communication equipment. For the asset categories of real estate, manufacturing, office and IT equipment, the Company accounts for the lease and non-lease components as a single lease component. Some leases give the option to renew, with renewal terms that may extend the lease term. The exercise of lease renewal options is at the Company's sole discretion. Certain leases also include options to purchase the leased property. The depreciable life of the ROU assets are limited by the expected lease term, unless there is a transfer of title or purchase option reasonably certain of exercise. The Company's lease agreements do not contain any material residual value guarantees. Refer to Note 15. Related Party Transactions for details of lease agreements with related parties. Operating Leases: The Company's lease cost as of the three and nine months ended September 30, 2019 was $3.7 million , and $10.5 million , respectively. Variable lease cost, short-term lease cost and sub-lease income were immaterial. The following tables provide the required information regarding operating leases for which the Company is lessee: Balance as of in millions September 30, 2019 January 1, 2019 Assets ROU assets $ 31.7 $ 32.3 Total ROU assets 31.7 32.3 Liabilities Current 10.3 10.8 Non-current 23.1 23.3 Total lease liabilities $ 33.4 $ 34.1 Weighted-average remaining lease term (years ) 4.6 4.3 Weighted-average discount rate 5.4 % 5.7 % The majority of ROU assets and lease liabilities, approximately 84% , relate to real estate leases, with the remaining amount primarily comprised of vehicle leases. Maturity of Operating Lease Liabilities: Year 1 (a) $ 11.7 Year 2 8.5 Year 3 5.2 Year 4 4.0 Year 5 3.0 After Year 5 5.3 Total lease payments 37.7 Less: Interest on lease payments (4.3 ) Present value of lease liabilities $ 33.4 (a) Represents the next 12 months Other Information for Operating Leases: Year-to-Date September 30, 2019 Operating cash flows from operating leases $ 10.0 ROU assets arising from obtaining new operating lease obligations 9.1 Finance Leases : During the second quarter of 2019, the Company acquired, through a business combination, real estate leases for which it is the lessee for an indefinite lease term and that are classified as financing. The ROU asset balance for these leases is $3.1 million and is included in property, plant, and equipment, net in the Balance Sheet as of September 30, 2019 . Prior Year Disclosures Although the Company has adopted ASC 842 using the cumulative effect transition method, which enables the Company to record existing leases at the date of adoption without restating comparative periods, it is required to include prior year disclosures that were in accordance with legacy GAAP. These disclosures included in the December 31, 2018 Form 10-K are included below: The Company leases office space, manufacturing facilities and various types of manufacturing and data processing equipment. Leases of real estate generally provide that it pays for repairs, property taxes and insurance. Substantially all leases are classified as operating leases for accounting purposes. Rent expense under operating leases amounted to $10.5 million in 2018. Future minimum lease payments under non-cancelable operating leases as of December 31, 2018, for the following fiscal years were: in millions Total Amount 2019 2020 2021 2022 2023 After 2024 Operating lease obligations $ 39.6 $ 12.7 $ 9.7 $ 5.6 $ 3.7 $ 2.9 $ 5.0 Lessor Accounting The Company primarily leases certain JBT FoodTech equipment, such as industrial juicers, to customers. In most instances, the Company includes maintenance as a component of the lease agreement. ASC 842 requires lessors to separate lease and non-lease components and further defines maintenance as a non-lease component. The Company elected to exercise the available practical expedient of combining lease and non-lease components where the components meet both of the following criteria: • The timing and pattern of transfer to the lessee of the lease and non-lease component are the same, and • The lease component, if accounted for separately, would be classified as an operating lease. As such, the leased asset and its respective maintenance component will not be accounted for separately. In certain leases, consumables are included as a non-lease component. For these leases, the components do not qualify for the practical expedient as the timing and pattern of transfer to the lessee are not the same. In these instances, the non-lease component will be accounted for in accordance with ASC 606. The Company monitors the risk associated with residual value of its leased assets. It reviews on an annual basis or more often as deemed necessary, and adjust residual values and useful lives of equipment leased to outside parties, as appropriate. Adjustments to residual values result in an adjustment to depreciation expense. the Company's annual review is based on a long-term view considering historical market price changes, market price trends, and expected life of the equipment. Lease agreements with the Company's customers do not contain any material residual value guarantees. Certain lease agreements include terms and conditions resulting in variable lease payments. These payments typically rely upon the usage of the underlying asset. Certain lease agreements provide renewal options, including some leases with an evergreen renewal option. The exercise of the lease renewal option is at the sole discretion of the lessee. In most instances, the lease can only be terminated in cases of breach of contract. In these instances, termination fees do not apply. Certain lease agreements also allow the lessee to purchase the leased asset at fair market value or a specific agreed upon price. The exercise of the lease purchase option is at the sole discretion of the lessee. Operating Leases: The following tables provide the required information regarding operating leases for which the Company is lessor. Operating Lease Revenue: Three Months Ended Nine Months Ended in millions September 30, 2019 September 30, 2019 Fixed payment revenue $ 17.8 $ 50.7 Variable payment revenue 3.2 13.8 Total $ 21.0 $ 64.5 Operating Lessor Maturity Analysis: Less than 1 Year (a) $ 46.2 Year 1 48.9 Year 2 39.6 Year 3 28.2 Year 4 13.0 Year 5 3.2 After Year 5 2.3 Total lease revenue $ 181.4 (a) Represents the next 12 months Sales-Type Leases: Sales-type lease revenue was $1.2 million and $1.4 million for the three and nine months ended September 30, 2019, respectively. The gross lease receivables of $2.2 million at September 30, 2019 is due in less than 1 year, $1.1 million is due in year 1, and $0.3 million
Leases	LEASES Lessee Accounting The Company adopted ASC 842 on January 1, 2019 and included below is the accounting policy for lessee accounting. The Company leases office space, manufacturing facilities and various types of manufacturing and data processing equipment. Leases of real estate generally provide that the Company pays for repairs, property taxes and insurance. At the inception of an arrangement, the Company determines whether the arrangement is or contains a lease based on whether the contract conveys the right to control the use of identified property, plant or equipment for a period of time in exchange for consideration. Leases are classified as operating or finance leases at the commencement date of the lease. Operating leases are included in operating lease ROU assets, other current liabilities, and operating lease liabilities in the consolidated Balance Sheet, which are reported within other assets, other current liabilities and other liabilities, respectively. Lease liabilities are classified between current and long-term liabilities based on their payment terms. The ROU asset balance for finance leases is included in property, plant, and equipment, net in the Balance Sheet. Per the standard, the Company has elected not to recognize leases with terms of less than one year on the Balance Sheet. ROU assets represent the Company's right to use an underlying asset for the lease term and lease liabilities represent an obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. As the implicit rate is generally not readily determinable for most of its leases, the Company uses its incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. The incremental borrowing rate was determined based on the rate of interest that the Company would have to pay to borrow an amount equal to the lease payments on a collateralized basis over a similar term. The Company used an unsecured borrowing rate and risk-adjust that rate to approximate a collateralized rate. The operating lease ROU asset also includes prepaid rent and reflects the unamortized balance of lease incentives. The Company's leases may include renewal and termination options, which are included in the lease term if we conclude that it is reasonably certain that we will exercise the option. Lease expense for operating leases is recognized on a straight-line basis over the lease term. The Company elected the practical expedient to not separate lease and non-lease components for leases other than leases of vehicles and communication equipment. For the asset categories of real estate, manufacturing, office and IT equipment, the Company accounts for the lease and non-lease components as a single lease component. Some leases give the option to renew, with renewal terms that may extend the lease term. The exercise of lease renewal options is at the Company's sole discretion. Certain leases also include options to purchase the leased property. The depreciable life of the ROU assets are limited by the expected lease term, unless there is a transfer of title or purchase option reasonably certain of exercise. The Company's lease agreements do not contain any material residual value guarantees. Refer to Note 15. Related Party Transactions for details of lease agreements with related parties. Operating Leases: The Company's lease cost as of the three and nine months ended September 30, 2019 was $3.7 million , and $10.5 million , respectively. Variable lease cost, short-term lease cost and sub-lease income were immaterial. The following tables provide the required information regarding operating leases for which the Company is lessee: Balance as of in millions September 30, 2019 January 1, 2019 Assets ROU assets $ 31.7 $ 32.3 Total ROU assets 31.7 32.3 Liabilities Current 10.3 10.8 Non-current 23.1 23.3 Total lease liabilities $ 33.4 $ 34.1 Weighted-average remaining lease term (years ) 4.6 4.3 Weighted-average discount rate 5.4 % 5.7 % The majority of ROU assets and lease liabilities, approximately 84% , relate to real estate leases, with the remaining amount primarily comprised of vehicle leases. Maturity of Operating Lease Liabilities: Year 1 (a) $ 11.7 Year 2 8.5 Year 3 5.2 Year 4 4.0 Year 5 3.0 After Year 5 5.3 Total lease payments 37.7 Less: Interest on lease payments (4.3 ) Present value of lease liabilities $ 33.4 (a) Represents the next 12 months Other Information for Operating Leases: Year-to-Date September 30, 2019 Operating cash flows from operating leases $ 10.0 ROU assets arising from obtaining new operating lease obligations 9.1 Finance Leases : During the second quarter of 2019, the Company acquired, through a business combination, real estate leases for which it is the lessee for an indefinite lease term and that are classified as financing. The ROU asset balance for these leases is $3.1 million and is included in property, plant, and equipment, net in the Balance Sheet as of September 30, 2019 . Prior Year Disclosures Although the Company has adopted ASC 842 using the cumulative effect transition method, which enables the Company to record existing leases at the date of adoption without restating comparative periods, it is required to include prior year disclosures that were in accordance with legacy GAAP. These disclosures included in the December 31, 2018 Form 10-K are included below: The Company leases office space, manufacturing facilities and various types of manufacturing and data processing equipment. Leases of real estate generally provide that it pays for repairs, property taxes and insurance. Substantially all leases are classified as operating leases for accounting purposes. Rent expense under operating leases amounted to $10.5 million in 2018. Future minimum lease payments under non-cancelable operating leases as of December 31, 2018, for the following fiscal years were: in millions Total Amount 2019 2020 2021 2022 2023 After 2024 Operating lease obligations $ 39.6 $ 12.7 $ 9.7 $ 5.6 $ 3.7 $ 2.9 $ 5.0 Lessor Accounting The Company primarily leases certain JBT FoodTech equipment, such as industrial juicers, to customers. In most instances, the Company includes maintenance as a component of the lease agreement. ASC 842 requires lessors to separate lease and non-lease components and further defines maintenance as a non-lease component. The Company elected to exercise the available practical expedient of combining lease and non-lease components where the components meet both of the following criteria: • The timing and pattern of transfer to the lessee of the lease and non-lease component are the same, and • The lease component, if accounted for separately, would be classified as an operating lease. As such, the leased asset and its respective maintenance component will not be accounted for separately. In certain leases, consumables are included as a non-lease component. For these leases, the components do not qualify for the practical expedient as the timing and pattern of transfer to the lessee are not the same. In these instances, the non-lease component will be accounted for in accordance with ASC 606. The Company monitors the risk associated with residual value of its leased assets. It reviews on an annual basis or more often as deemed necessary, and adjust residual values and useful lives of equipment leased to outside parties, as appropriate. Adjustments to residual values result in an adjustment to depreciation expense. the Company's annual review is based on a long-term view considering historical market price changes, market price trends, and expected life of the equipment. Lease agreements with the Company's customers do not contain any material residual value guarantees. Certain lease agreements include terms and conditions resulting in variable lease payments. These payments typically rely upon the usage of the underlying asset. Certain lease agreements provide renewal options, including some leases with an evergreen renewal option. The exercise of the lease renewal option is at the sole discretion of the lessee. In most instances, the lease can only be terminated in cases of breach of contract. In these instances, termination fees do not apply. Certain lease agreements also allow the lessee to purchase the leased asset at fair market value or a specific agreed upon price. The exercise of the lease purchase option is at the sole discretion of the lessee. Operating Leases: The following tables provide the required information regarding operating leases for which the Company is lessor. Operating Lease Revenue: Three Months Ended Nine Months Ended in millions September 30, 2019 September 30, 2019 Fixed payment revenue $ 17.8 $ 50.7 Variable payment revenue 3.2 13.8 Total $ 21.0 $ 64.5 Operating Lessor Maturity Analysis: Less than 1 Year (a) $ 46.2 Year 1 48.9 Year 2 39.6 Year 3 28.2 Year 4 13.0 Year 5 3.2 After Year 5 2.3 Total lease revenue $ 181.4 (a) Represents the next 12 months Sales-Type Leases: Sales-type lease revenue was $1.2 million and $1.4 million for the three and nine months ended September 30, 2019, respectively. The gross lease receivables of $2.2 million at September 30, 2019 is due in less than 1 year, $1.1 million is due in year 1, and $0.3 million

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES In the normal course of business, the Company is at times subject to pending and threatened legal actions, some for which the relief or damages sought may be substantial. Although the Company is not able to predict the outcome of such actions, after reviewing all pending and threatened actions with counsel and based on information currently available, management believes that the outcome of such actions, individually or in the aggregate, will not have a material adverse effect on the Company's results of operations or financial position. However, it is possible that the ultimate resolution of such matters, if unfavorable, may be material to its results of operations in a particular future period as the time and amount of any resolution of such actions and its relationship to the future results of operations are not currently known. Liabilities are established for pending legal claims only when losses associated with the claims are judged to be probable, and the loss can be reasonably estimated. In many lawsuits and arbitrations, it is not considered probable that a liability has been incurred or not possible to estimate the ultimate or minimum amount of that liability until the case is close to resolution, in which case no liability would be recognized until that time. In 2013, the Company received a notice of examination from the Delaware Department of Finance commencing an examination of its books and records to determine compliance with Delaware unclaimed property law. The examination was not complete when, in 2017, Delaware promulgated a law which permitted companies an election to convert an examination to a review under the Secretary of State’s voluntary disclosure agreement program. In December 2017, the Company elected this alternative and is in the process of meeting the requirements under the voluntary disclosure agreement program. The requirements include reviewing the Company's books and records and filing any previously unfiled reports for all unclaimed property presumed unclaimed, under the law, from 2003. The Company is required to work with the Secretary of State and will complete this exercise by December 2019. The results of this exercise are not expected to materially impact the Company's financial statements. Guarantees and Product Warranties In the ordinary course of business with customers, vendors and others, the Company issues standby letters of credit, performance bonds, surety bonds and other guarantees. These financial instruments, which totaled $196.2 million at September 30, 2019 , represent guarantees of future performance. The Company has also provided $6.7 million of bank guarantees and letters of credit to secure a portion of its existing financial obligations. The majority of these financial instruments expire within two years and are expected to be replaced through the issuance of new or the extension of existing letters of credit and surety bonds. In some instances, the Company guarantees its customers’ financing arrangements. The Company is responsible for payment of any unpaid amounts, but will receive indemnification from third parties for between seventy-five and ninety-five percent of the contract values. In addition, the Company generally retains recourse to the equipment sold. As of September 30, 2019 , the gross value of such arrangements was $4.1 million , of which its net exposure under such guarantees was $0.2 million . The company provides warranties of various lengths and terms to certain of its customers based on standard terms and conditions and negotiated agreements. The Company provides for the estimated cost of warranties at the time revenue is recognized for products where reliable, historical experience of warranty claims and cost exist. The Company also provides a warranty liability when additional specific obligations are identified. The warranty obligation reflected in other current liabilities in the consolidated Balance Sheet is based on historical experience by product and considers failure rates and the related costs in correcting a product failure. Warranty cost and accrual information were as follows: Three Months Ended September 30, Nine Months Ended September 30, (In millions) 2019 2018 2019 2018 Balance at beginning of period $ 12.4 $ 13.2 $ 13.5 $ 14.5 Expense for new warranties 4.1 4.0 10.2 9.2 Adjustments to existing accruals (0.2 ) (0.3 ) (1.4 ) (1.3 ) Claims paid (4.5 ) (4.0 ) (11.4 ) (9.4 ) Added through acquisition 0.6 0.3 1.6 0.5 Translation (0.2 ) — (0.3 ) (0.3 ) Balance at end of period $ 12.2 $ 13.2 $ 12.2 $ 13.2

Business Segment Information

Business Segment Information	9 Months Ended
	Sep. 30, 2019
Segment Reporting [Abstract]
Business Segment Information	BUSINESS SEGMENT INFORMATION Operating segments for the Company are determined based on information used by the chief operating decision maker (CODM) in deciding how to evaluate performance and allocate resources to each of the segments. The Company’s CODM is the Chief Executive Officer (CEO). While there are many measures the CEO reviews in this capacity, the key segment measures reviewed include operating profit, operating profit margin, and EBITDA, adjusted when applicable, and EBITDA margins. The Company's reportable segments are: • JBT FoodTech—designs, manufactures and services technologically sophisticated food processing systems used for, among other things, fruit juice production, frozen food production, in-container food production, automated systems and convenience food preparation by the food industry. • JBT AeroTech—designs, manufactures and services technologically sophisticated airport ground support and gate equipment and provides services for airport authorities; airlines, airfreight, and ground handling companies; the defense contractors and other industries. Total revenue by segment includes intersegment sales, which are made at prices that reflect, as nearly as practicable, the market value of the transaction. Segment Operating profit is defined as total segment revenue less segment operating expense. The following items have been excluded in computing segment Operating profit: Corporate expense, Restructuring expense, Interest income and expense, and Income taxes. See the table below for further details on Corporate expense. Segment operating profit is defined as total segment revenue less segment Operating expense. Business segment information was as follows: Three Months Ended Nine Months Ended September 30, (In millions) 2019 2018 2019 2018 Revenue JBT FoodTech $ 334.3 $ 332.5 $ 972.2 $ 997.7 JBT AeroTech 155.0 149.5 427.8 384.6 Other revenue and intercompany eliminations $ 0.1 $ (0.1 ) $ 0.2 $ 0.1 Total revenue $ 489.4 $ 481.9 $ 1,400.2 $ 1,382.4 Income before income taxes Segment operating profit: JBT FoodTech $ 42.5 $ 41.9 $ 132.5 $ 110.8 JBT AeroTech 22.2 17.6 50.2 40.2 Total segment operating profit 64.7 59.5 182.7 151.0 Corporate items: Corporate expense (1) 14.8 11.3 45.6 33.5 Restructuring expense (2) 1.3 11.6 11.5 32.8 Operating income 48.6 36.6 125.6 84.7 Pension expense, other than service cost 0.5 — 1.5 0.6 Interest expense, net 5.9 3.4 13.4 10.5 Income from continuing operations before income taxes $ 42.2 $ 33.2 $ 110.7 $ 73.6 (1) Corporate expense generally includes corporate staff-related expense, stock-based compensation, LIFO adjustments, certain foreign currency-related gains and losses, and the impact of unusual or strategic events not representative of segment operations. (2) Refer to Note 14 . Restructuring for further information on restructuring expense.

Restructuring

Restructuring	9 Months Ended
	Sep. 30, 2019
Restructuring and Related Activities [Abstract]
Restructuring	RESTRUCTURING Restructuring expense primarily consists of employee separation benefits under existing severance programs, foreign statutory termination benefits, certain one-time termination benefits, contract termination costs, asset impairment charges and other costs that are associated with restructuring actions. Certain restructuring charges are accrued prior to payments made in accordance with applicable guidance. For such charges, the amounts are determined based on estimates prepared at the time the restructuring actions were approved by management. During the fourth quarter of 2016 the Company implemented and acquired a restructuring plan to consolidate certain facilities and optimize general and administrative infrastructure subsequent to a JBT FoodTech acquisition. The Company incurred $3.0 million expense for this plan in prior years with no additional expense in 2019, and completed this plan in the first quarter of 2019. In the first quarter of 2018, the Company implemented a restructuring plan ("2018 restructuring plan") to address its global processes to flatten the organization, improve efficiency and better leverage general and administrative resources. The total estimated cost in connection with this plan is up to $60.0 million . Through September 30, 2019 we have recognized cumulative restructuring charges of $58.5 million , net of cumulative releases of the related liability of $9.9 million . The Company expects to recognize any remaining costs in 2019. The following table details the amounts reported in restructuring expense for the 2018 restructuring plan on the consolidated statement of income since the implementation of this plan: Cumulative Amount For the Three Months Ended Cumulative Amount (In millions) As of December 31, 2018 March 31, 2019 June 30, 2019 September 30, 2019 As of September 30, 2019 Severance and related expense 18.5 1.6 3.6 1.0 24.7 Other 34.7 4.8 2.9 1.3 43.7 Total restructuring charges $ 53.2 $ 6.4 $ 6.5 $ 2.3 $ 68.4 The restructuring expense is primarily associated with the JBT FoodTech segment, and is excluded from the calculation of segment operating profit. Expense incurred during the nine months ended September 30, 2019 primarily relate to costs to streamline operations and consulting fees as a direct result of the plan. Liability balances for restructuring activities are included in other current liabilities in the accompanying Balance Sheet. The table below details the activities in 2019: Impact to Earnings (In millions) Balance as of Charged to Earnings Release of Liability Payments Made Balance as of Severance and related expense $ 8.4 $ 6.2 $ (3.7 ) $ (4.3 ) 6.6 Other 11.0 9.0 — (19.0 ) 1.0 Total $ 19.4 $ 15.2 $ (3.7 ) $ (23.3 ) 7.6 The Company released $ 3.7 million of the liability during the nine months ended September 30, 2019

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2019
Related Party Transactions [Abstract]
Related Party Transactions	RELATED PARTY TRANSACTIONS The Company has entered into an agreement to lease a manufacturing facility in Columbus, Ohio from an entity owned by the Company's employees who were former owners or employees of its newly acquired business, Prime. The lease commenced on September 1, 2019, with an eight year term. The operating lease right-of-use asset and the lease liability related to this agreement is $4.0 million

Description of Business and B_2

Description of Business and Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation In accordance with Securities and Exchange Commission (“SEC”) rules for interim periods, the accompanying unaudited condensed consolidated financial statements (the “interim financial statements”) do not include all of the information and notes for complete financial statements as required by accounting principles generally accepted in the United States of America (“U.S. GAAP”). As such, the accompanying interim financial statements should be read in conjunction with the Annual Report on Form 10-K for the year ended December 31, 2018 , which provides a more complete description of the Company’s accounting policies, financial position, operating results, business, properties, and other matters. The year-end condensed consolidated Balance Sheet (the “Balance Sheet”) was derived from audited financial statements. In the opinion of management, the interim financial statements reflect all normal recurring adjustments necessary for a fair presentation of the Company's financial condition and operating results as of and for the periods presented. Revenue, expenses, assets and liabilities can vary during each quarter of the year. Therefore, the interim results and trends in the interim financial statements may not be representative of those for the full year or any future period.
Use of Estimates	Use of estimates Preparation of financial statements that follow U.S. GAAP requires management to make estimates and judgments that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from these estimates.
Recently Adopted Accounting Standards and Recently Issued Accounting Standards Not Yet Adopted	Recently adopted accounting standards Beginning in February 2016, the FASB issued ASU No. 2016-02, Leases ("ASC 842"), plus a number of related statements designed to clarify and interpret ASC 842. The core principle of the ASU is the requirement for lessees to report a right of use asset ("ROU asset") and a lease payment obligation on the Balance Sheet, but recognize expenses on their Income Statement in a manner similar to legacy accounting. For lessors, the guidance remains substantially unchanged from legacy U.S. GAAP. The Company designed disclosures to meet the objective of enabling users of financial statements to assess the amount, timing, and uncertainty of cash flows arising from leases. The Company adopted ASC 842 as of January 1, 2019, using the cumulative-effect transition method with the required modified retrospective approach. The cumulative-effect transition method enables an entity to record existing leases at the date of adoption without restating comparative periods; rather the cumulative effect of the change is recorded as an adjustment to equity, if needed, at the beginning of the year of adoption. The Company elected the following practical expedients as permitted per the guidance: • The ‘package of practical expedients’ which permits the Company not to reassess under the new standard its prior conclusions about lease identification, lease classification and initial direct costs. The Company has elected this package of practical expedients in its entirety. • The short-term lease recognition exemption for all leases that qualify. This means, for those leases that qualify, the Company will not recognize ROU assets or lease liabilities for existing short-term leases of assets in transition. • The practical expedient to not separate lease and non-lease components for all of its leases other than leases of vehicles and communication equipment given the predominance of the service component for these leases. • The use of hindsight to determine the lease term for existing leases and assessing the likelihood that a lessee renewal, termination or purchase option will be exercised. The adoption of ASC 842 resulted in recording ROU assets of $32.3 million in other assets and lease liabilities of $10.8 million in other current liabilities and $23.3 million in other liabilities, as of January 1, 2019. The difference between the ROU assets and lease liabilities is driven primarily by lease incentives that were reclassified from a long-term liability account to the ROU asset balance. The income tax accounting impact of ASC 842 adoption resulted in recording a deferred tax asset and deferred tax liability of $8.8 million as of January 1, 2019. The standard did not materially impact retained earnings or consolidated net income, and had no impact on cash flows. Recently issued accounting standards not yet adopted In August 2018, the FASB issued ASU 2018-13, Disclosure Framework— Changes to the Disclosure Requirements for Fair Value Measurement, which amends Topic 820, Fair Value Measurement. ASU 2018-13 removes, modifies, and adds disclosure requirements for fair value measurements. The ASU is effective for annual reporting periods, including interim periods within those annual periods, beginning after December 15, 2019, with early adoption permitted. The removed and modified disclosures will be adopted on a retrospective basis and the new disclosures will be adopted on a prospective basis. The Company is currently evaluating the impact of adopting ASU 2018-13 on its disclosures. In August 2018, the FASB issued ASU 2018-14, Compensation-Retirement Benefits-Defined Benefit Plans-General (Subtopic 715-20): Disclosure Framework-Changes to the Disclosure Requirements for Defined Benefit Plans . ASU 2018-14 removes, modifies, and adds disclosure requirements for defined benefit plans. The disclosure modifications in ASU 2018-14 will be applied on a retrospective basis. The ASU is effective for annual reporting periods ending after December 15, 2020, with early adoption permitted. The Company is currently evaluating the impact of adopting ASU 2018-14 on its disclosures.

Acquisitions (Tables)

Acquisitions (Tables)	9 Months Ended
	Sep. 30, 2019
Business Combinations [Abstract]
Schedule of business combinations	A summary of the acquisitions made during the period is as follows: Date Type Company/Product Line Location (Near) Segment May 31, 2019 Stock Proseal UK Limited Adlington, UK JBT FoodTech A leading provider of tray sealing technology for the fresh produce, ready meals, proteins, sandwiches, and snack industries. May 31, 2019 Stock Prime Equipment Group, LLC Columbus, Ohio JBT FoodTech A manufacturer of turnkey primary and water re–use solutions for the poultry industry. February 1, 2019 Stock LEKTRO, Inc. Warrenton, Oregon JBT AeroTech A manufacturer of commercial aviation ground support equipment, including electric towbarless aircraft pushback tractors for narrow body and smaller aircrafts. July 12, 2018 Stock FTNON Almelo, Netherlands JBT FoodTech A manufacturer of equipment and solutions for the fresh produce, ready meals, and pet food industries. January 26, 2018 Stock Schröder Breidenbach, Germany JBT FoodTech A manufacturer of engineered processing solutions for the food industry.
Schedule of assets acquired and liabilities assumed	The following presents the allocation of acquisition consideration to the assets acquired and the liabilities assumed, based on their estimated values: Proseal (1) Prime (2) LEKTRO (3) FTNON (4) Schröder (4) Total (In millions) Financial assets $ 45.9 $ 13.3 $ 4.2 $ 17.2 $ 4.3 $ 84.9 Inventories 26.2 11.7 7.4 4.5 6.6 56.4 Property, plant and equipment 24.7 1.5 0.3 3.9 7.4 37.8 Other intangible assets (5) 90.5 28.4 19.4 19.0 4.2 161.5 Deferred taxes (15.6 ) — (5.0 ) (3.4 ) 0.4 (23.6 ) Financial liabilities (35.1 ) (22.3 ) (4.6 ) (20.6 ) (4.5 ) (87.1 ) Total identifiable net assets $ 136.6 $ 32.6 $ 21.7 $ 20.6 $ 18.4 $ 229.9 Cash consideration paid $ 264.9 $ 62.6 $ 48.3 $ 43.6 $ 20.3 $ 439.7 Contingent consideration (6) 14.7 1.3 — — — 16.0 Holdback payment due to seller — 0.9 — — — 0.9 Total consideration 279.6 64.8 48.3 43.6 20.3 456.6 Cash acquired 4.3 1.4 1.7 4.9 1.5 13.8 Net consideration $ 275.3 $ 63.4 $ 46.6 $ 38.7 $ 18.8 $ 442.8 Goodwill (7) $ 143.0 $ 32.2 $ 26.6 $ 23.0 $ 1.9 $ 226.7 (1) The purchase accounting for Proseal is provisional. The valuation of working capital balances, property, plant and equipment, intangibles, income tax balances and residual goodwill is not complete. These amounts are subject to adjustment as additional information is obtained within the measurement period (not to exceed 12 months from the acquisition date). During the quarter ended September 30, 2019 , the Company refined estimates for other intangibles by $(2.8) million , property, plant, and equipment by $2.0 million , inventory by $(0.7) million , and trade receivables by $(0.7) million . The impact of these adjustments was reflected as a net increase in goodwill of $2.2 million . These adjustments resulted in an immaterial impact to the consolidated statement of income. (2) The purchase accounting for Prime is provisional. The valuation of working capital balances, property, plant and equipment, intangibles, income tax balances and residual goodwill is not complete. These amounts are subject to adjustment as additional information is obtained within the measurement period (not to exceed 12 months from the acquisition date). During the quarter ended September 30, 2019 , the Company refined estimates for financial liabilities by $(9.4) million , inventory by $4.8 million , other intangibles by $1.9 million , financial assets by $(1.1) million , property, plant, and equipment by $(1.2) million . The impact of these adjustments was reflected as a net increase in goodwill of $5.0 million . These adjustments resulted in an immaterial impact to the consolidated statement of income. (3) The purchase accounting for LEKTRO is provisional. The valuation of intangible assets and taxes is not complete. These amounts are subject to adjustment as additional information is obtained within the measurement period (not to exceed 12 months from the acquisition date). During the quarter ended September 30, 2019 we had no significant measurement period adjustments for LEKTRO. (4) The purchase accounting for FTNON and Schröder was final as of June 30, 2019 and December 31, 2018, respectively. (5) The acquired intangible assets subject to amortization are being amortized on a straight-line basis over their estimated useful lives, which range from seven to twenty years . The intangible assets acquired in 2019 include customer relationships totaling $86.0 million ( 14 - year weighted average useful life), technology totaling $37.6 million ( 9 - year weighted average useful life), and tradenames totaling $14.7 million ( 20 - year weighted average useful life). (6) Proseal and Prime purchase agreements include contingent payments due to the sellers to the extent Proseal and Prime achieve certain earnings targets.
Schedule of pro forma information	The following information reflects the results of the Company’s operations for the three and nine months ended September 30, 2019 and 2018 on a pro forma basis as if the acquisition of Proseal had been completed on January 1, 2018. Pro forma adjustments have been made to illustrate the incremental impact on earnings of interest costs on the borrowings to acquire the company, amortization expense related to acquire intangible assets, depreciation expense related to the fair value of the acquired depreciable tangible assets and the related tax impact associated with the incremental interest costs and amortization and depreciation expense. Three Months Ended September 30, Nine Months Ended September 30, (In millions, except per share data) 2019 2018 2019 2018 Revenue Pro forma $ 489.4 $ 504.7 $ 1,438.6 $ 1,452.2 As reported 489.4 481.9 1,400.2 1,382.4 Net Earnings Pro forma $ 37.4 $ 27.5 $ 93.4 $ 61.0 As reported 33.5 26.4 87.2 61.5 Net Earnings from Continuing Operations Per Share Pro forma Basic $ 1.17 $ 0.86 $ 2.93 $ 1.91 Fully diluted 1.17 0.86 2.91 1.89 As reported Basic $ 1.05 $ 0.83 $ 2.74 $ 1.93 Fully diluted 1.04 0.82 2.72 1.91

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of goodwill	The changes in the carrying amount of goodwill by business segment were as follows: (In millions) JBT FoodTech JBT AeroTech Total Balance as of December 31, 2018 $ 310.3 $ 11.1 $ 321.4 Acquisitions 175.2 26.6 201.8 Currency translation (6.1 ) (0.2 ) (6.3 ) Balance as of September 30, 2019 $ 479.4 $ 37.5 $ 516.9
Schedule of finite-lived intangible assets	Intangible assets consisted of the following: September 30, 2019 December 31, 2018 (In millions) Gross carrying amount Accumulated amortization Gross carrying amount Accumulated amortization Customer relationship $ 248.4 $ 56.7 $ 165.5 $ 45.2 Patents and acquired technology 134.5 44.3 99.8 38.2 Trademarks 36.8 10.9 23.1 10.3 Non-amortizing intangible assets 15.4 — 15.6 — Other 14.6 11.9 14.4 10.8 Total intangible assets $ 449.7 $ 123.8 $ 318.4 $ 104.5
Schedule of indefinite-lived intangible assets	Intangible assets consisted of the following: September 30, 2019 December 31, 2018 (In millions) Gross carrying amount Accumulated amortization Gross carrying amount Accumulated amortization Customer relationship $ 248.4 $ 56.7 $ 165.5 $ 45.2 Patents and acquired technology 134.5 44.3 99.8 38.2 Trademarks 36.8 10.9 23.1 10.3 Non-amortizing intangible assets 15.4 — 15.6 — Other 14.6 11.9 14.4 10.8 Total intangible assets $ 449.7 $ 123.8 $ 318.4 $ 104.5

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2019
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories consisted of the following: (In millions) September 30, 2019 December 31, 2018 Raw materials $ 106.0 $ 82.1 Work in process 69.7 70.6 Finished goods 158.6 118.8 Gross inventories before LIFO reserves and valuation adjustments 334.3 271.5 LIFO reserves (50.1 ) (48.2 ) Valuation adjustments (20.2 ) (17.2 ) Net inventories $ 264.0 $ 206.1

Pension (Tables)

Pension (Tables)	9 Months Ended
	Sep. 30, 2019
Retirement Benefits [Abstract]
Components of net periodic benefit cost (income)	Components of net periodic benefit cost were as follows: Three Months Ended Nine Months Ended September 30, (In millions) 2019 2018 2019 2018 Service cost $ 0.4 $ 0.4 $ 1.3 $ 1.4 Interest cost 2.9 2.7 8.4 8.1 Expected return on plan assets (3.8 ) (4.4 ) (11.4 ) (12.9 ) Settlement charge — — — 0.4 Amortization of net actuarial losses 1.4 1.7 4.5 5.0 Net periodic cost $ 0.9 $ 0.4 $ 2.8 $ 2.0

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	9 Months Ended
	Sep. 30, 2019
Equity [Abstract]
Changes in the AOCI Balances	Pension and Other Postretirement Benefits (1) Derivatives Designated as Hedges (1) Foreign Currency Translation Total (1) (In millions) Beginning balance, June 30, 2018 $ (111.1 ) $ 2.9 $ (45.6 ) $ (153.8 ) Other comprehensive income (loss) before reclassification — 0.3 (3.2 ) (2.9 ) Amounts reclassified from accumulated other comprehensive income 1.2 (0.3 ) — 0.9 Ending balance, September 30, 2018 $ (109.9 ) $ 2.9 $ (48.8 ) $ (155.8 ) (1) All amounts are net of income taxes. three months ended September 30, 2019 and 2018 by component are shown in the following tables: Pension and Other Postretirement Benefits (1) Derivatives Designated as Hedges (1) Foreign Currency Translation (1) Total (1) (In millions) Beginning balance, June 30, 2019 $ (137.6 ) $ 0.4 $ (51.7 ) $ (188.9 ) Other comprehensive income (loss) before reclassification — 0.1 (9.3 ) (9.2 ) Amounts reclassified from accumulated other comprehensive income 1.1 (0.3 ) (0.5 ) 0.3 Ending balance, September 30, 2019 $ (136.5 ) $ 0.2 $ (61.5 ) $ (197.8 ) (1) All amounts are net of income taxes.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	9 Months Ended
	Sep. 30, 2019
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	In the following table, revenue is disaggregated by type of good or service and primary geographical market. The table also includes a reconciliation of the disaggregated revenue with the reportable segments. Three Months Ended Nine Months Ended September 30, 2019 September 30, 2019 (In millions) JBT FoodTech JBT AeroTech JBT FoodTech JBT AeroTech Type of Good or Service Recurring (1) $ 150.0 $ 49.5 $ 428.7 $ 152.3 Non-recurring (1) 184.3 105.5 543.5 275.5 Total 334.3 155.0 972.2 427.8 Geographical Region (2) North America 167.8 134.0 503.5 353.9 Europe, Middle East and Africa 98.4 15.8 269.4 59.3 Asia Pacific 42.6 4.4 124.3 12.5 Latin America 25.5 0.8 75.0 2.1 Total 334.3 155.0 972.2 427.8 Timing of Recognition (3) Point in Time 150.4 88.7 456.4 243.8 Over Time 183.9 66.3 515.8 184.0 Total 334.3 155.0 972.2 427.8 Three Months Ended Nine Months Ended September 30, 2018 September 30, 2018 (In millions) JBT FoodTech JBT AeroTech JBT FoodTech JBT AeroTech Type of Good or Service Recurring (1) $ 129.4 $ 45.7 $ 387.6 $ 135.1 Non-recurring (1) 203.1 103.8 610.1 249.5 Total 332.5 149.5 997.7 384.6 Geographical Region (2) North America 174.7 105.2 501.5 298.2 Europe, Middle East and Africa 101.7 32.8 308.1 58.4 Asia Pacific 27.7 9.2 126.9 25.2 Latin America 28.4 2.3 61.2 2.8 Total 332.5 149.5 997.7 384.6 Timing of Recognition (3) Point in Time 211.7 101.7 563.5 243.2 Over Time 120.8 47.8 434.2 141.4 Total 332.5 149.5 997.7 384.6 (1) Aftermarket parts and services and revenue from leasing contracts are considered recurring revenue. Non-recurring revenue includes new equipment and installation. (2) Geographical region represents the region in which the end customer resides. (3) These amounts include the transition impacts from the adoption of ASC 606 that were recognized throughout the year. The majority of the impact was driven by "previously recognized" amounts where installation was completed in 2018 and revenue on the full contract was recognized, however the same contract was previously recognized under legacy GAAP upon shipment in 2017.
Contract with Customer, Asset and Liability	ontract asset and liability balances for the period were as follows: Balances as of (In millions) September 30, 2019 December 31, 2018 Contract assets $ 80.3 $ 70.3 Contract liabilities 86.6 124.5

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2019
Earnings Per Share [Abstract]
Computation of Basic and Diluted Earnings Per Share	The following table sets forth the computation of basic and diluted earnings per share from continuing operations for the respective periods and basic and diluted shares outstanding: Three Months Ended Nine Months Ended September 30, (In millions, except per share data) 2019 2018 2019 2018 Basic earnings per share: Income from continuing operations $ 33.5 $ 26.4 $ 87.2 $ 61.5 Weighted average number of shares outstanding 31.9 31.9 31.9 31.9 Basic earnings per share from continuing operations $ 1.05 $ 0.83 $ 2.74 $ 1.93 Diluted earnings per share: Income from continuing operations $ 33.5 $ 26.4 $ 87.2 $ 61.5 Weighted average number of shares outstanding 31.9 31.9 31.9 31.9 Effect of dilutive securities: Restricted stock 0.2 0.2 0.1 0.3 Total shares and dilutive securities 32.1 32.1 32.0 32.2 Diluted earnings per share from continuing operations $ 1.04 $ 0.82 $ 2.72 $ 1.91

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2019
Fair Value Disclosures [Abstract]
Schedule of financial assets and liabilities measured at fair value on a recurring basis	Financial assets and financial liabilities measured at fair value on a recurring basis are as follows: As of September 30, 2019 As of December 31, 2018 (In millions) Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Assets: Investments $ 13.6 $ 13.6 $ — $ — $ 12.3 $ 12.3 $ — $ — Derivatives 13.6 — 13.6 — 7.7 — 7.7 — Total assets $ 27.2 $ 13.6 $ 13.6 $ — $ 20.0 $ 12.3 $ 7.7 $ — Liabilities: Derivatives $ 6.6 $ — $ 6.6 $ — $ 2.0 $ — $ 2.0 $ — Contingent consideration 15.8 — — 15.8 — — — — Total liabilities $ 22.4 $ — $ 6.6 $ 15.8 $ 2.0 $ — $ 2.0 $ —

Derivative Financial Instrume_2

Derivative Financial Instruments and Risk Management (Tables)	9 Months Ended
	Sep. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of fair value of foreign currency derivatives in balance sheet	The following table presents the fair value of foreign currency derivatives and embedded derivatives included within the Balance Sheet: As of September 30, 2019 As of December 31, 2018 (In millions) Derivative Assets Derivative Liabilities Derivative Assets Derivative Liabilities Total $ 4.9 $ 6.8 $ 3.7 $ 2.1
Schedule of derivative assets at fair value	As of September 30, 2019 and December 31, 2018 , information related to these offsetting arrangements was as follows: (In millions) As of September 30, 2019 Offsetting of Assets Gross Amounts of Recognized Assets Gross Amounts Offset in the Consolidated Balance Sheet Net Presented in the Consolidated Balance Sheet Amount Subject to Master Netting Agreement Net Amount Derivatives $ 13.6 $ — $ 13.6 $ (2.3 ) $ 11.3 (In millions) As of December 31, 2018 Offsetting of Assets Gross Amounts of Recognized Assets Gross Amounts Offset in the Consolidated Balance Sheet Net Presented in the Consolidated Balance Sheet Amount Subject to Master Netting Agreement Net Amount Derivatives $ 7.7 $ — $ 7.7 $ (1.5 ) $ 6.2
Schedule of derivative liabilities at fair value	(In millions) As of September 30, 2019 Offsetting of Liabilities Gross Amounts of Recognized Liabilities Gross Amounts Offset in the Consolidated Balance Sheet Net Presented in the Consolidated Balance Sheet Amount Subject to Master Netting Agreement Net Amount Derivatives $ 6.6 $ — $ 6.6 $ (2.3 ) $ 4.3 (In millions) As of December 31, 2018 Offsetting of Liabilities Gross Amounts of Recognized Liabilities Gross Amounts Offset in the Consolidated Balance Sheet Net Presented in the Consolidated Balance Sheet Amount Subject to Master Netting Agreement Net Amount Derivatives $ 2.0 $ — $ 2.0 $ (1.5 ) $ 0.5
Schedule of location and amount of gain (loss) on foreign currency derivatives and on the remeasurement of assets and liabilities denominated in foreign currencies	The following table presents the location and amount of the gain (loss) on foreign currency derivatives and on the remeasurement of assets and liabilities denominated in foreign currencies, as well as the net impact recognized in the Income Statement: Derivatives Not Designated as Hedging Instruments Location of Gain (Loss) Recognized in Income on Derivatives Amount of (Loss) Gain Recognized in Income on Derivatives Three Months Ended Nine Months Ended September 30, (In millions) 2019 2018 2019 2018 Foreign exchange contracts Revenue $ (2.2 ) $ (0.8 ) $ (5.2 ) $ (4.3 ) Foreign exchange contracts Cost of sales 1.3 (0.1 ) 2.5 0.1 Foreign exchange contracts Selling, general and administrative expense (0.7 ) 0.1 (2.5 ) 0.4 Total (1.6 ) (0.8 ) (5.2 ) (3.8 ) Remeasurement of assets and liabilities in foreign currencies 0.5 0.7 2.1 2.2 Net gain (loss) on foreign currency transactions $ (1.1 ) $ (0.1 ) $ (3.1 ) $ (1.6 )

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2019
Leases [Abstract]
Assets And Liabilities, Lessee	The following tables provide the required information regarding operating leases for which the Company is lessee: Balance as of in millions September 30, 2019 January 1, 2019 Assets ROU assets $ 31.7 $ 32.3 Total ROU assets 31.7 32.3 Liabilities Current 10.3 10.8 Non-current 23.1 23.3 Total lease liabilities $ 33.4 $ 34.1 Weighted-average remaining lease term (years ) 4.6 4.3 Weighted-average discount rate 5.4 % 5.7 %
Lessee, Operating Lease, Liability, Maturity	Maturity of Operating Lease Liabilities: Year 1 (a) $ 11.7 Year 2 8.5 Year 3 5.2 Year 4 4.0 Year 5 3.0 After Year 5 5.3 Total lease payments 37.7 Less: Interest on lease payments (4.3 ) Present value of lease liabilities $ 33.4 (a) Represents the next 12 months
Lease, Cost	Other Information for Operating Leases: Year-to-Date September 30, 2019 Operating cash flows from operating leases $ 10.0 ROU assets arising from obtaining new operating lease obligations 9.1
Schedule of Future Minimum Rental Payments for Operating Leases	Future minimum lease payments under non-cancelable operating leases as of December 31, 2018, for the following fiscal years were: in millions Total Amount 2019 2020 2021 2022 2023 After 2024 Operating lease obligations $ 39.6 $ 12.7 $ 9.7 $ 5.6 $ 3.7 $ 2.9 $ 5.0
Lessor, Lease Revenue	Operating Lease Revenue: Three Months Ended Nine Months Ended in millions September 30, 2019 September 30, 2019 Fixed payment revenue $ 17.8 $ 50.7 Variable payment revenue 3.2 13.8 Total $ 21.0 $ 64.5
Lessor, Operating Lease, Payments to be Received, Maturity	Operating Lessor Maturity Analysis: Less than 1 Year (a) $ 46.2 Year 1 48.9 Year 2 39.6 Year 3 28.2 Year 4 13.0 Year 5 3.2 After Year 5 2.3 Total lease revenue $ 181.4 (a) Represents the next 12 months

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Schedule of warranty cost and accrual information	Warranty cost and accrual information were as follows: Three Months Ended September 30, Nine Months Ended September 30, (In millions) 2019 2018 2019 2018 Balance at beginning of period $ 12.4 $ 13.2 $ 13.5 $ 14.5 Expense for new warranties 4.1 4.0 10.2 9.2 Adjustments to existing accruals (0.2 ) (0.3 ) (1.4 ) (1.3 ) Claims paid (4.5 ) (4.0 ) (11.4 ) (9.4 ) Added through acquisition 0.6 0.3 1.6 0.5 Translation (0.2 ) — (0.3 ) (0.3 ) Balance at end of period $ 12.2 $ 13.2 $ 12.2 $ 13.2

Business Segment Information (T

Business Segment Information (Tables)	9 Months Ended
	Sep. 30, 2019
Segment Reporting [Abstract]
Schedule of segment revenue and operating profit	Segment operating profit is defined as total segment revenue less segment Operating expense. Business segment information was as follows: Three Months Ended Nine Months Ended September 30, (In millions) 2019 2018 2019 2018 Revenue JBT FoodTech $ 334.3 $ 332.5 $ 972.2 $ 997.7 JBT AeroTech 155.0 149.5 427.8 384.6 Other revenue and intercompany eliminations $ 0.1 $ (0.1 ) $ 0.2 $ 0.1 Total revenue $ 489.4 $ 481.9 $ 1,400.2 $ 1,382.4 Income before income taxes Segment operating profit: JBT FoodTech $ 42.5 $ 41.9 $ 132.5 $ 110.8 JBT AeroTech 22.2 17.6 50.2 40.2 Total segment operating profit 64.7 59.5 182.7 151.0 Corporate items: Corporate expense (1) 14.8 11.3 45.6 33.5 Restructuring expense (2) 1.3 11.6 11.5 32.8 Operating income 48.6 36.6 125.6 84.7 Pension expense, other than service cost 0.5 — 1.5 0.6 Interest expense, net 5.9 3.4 13.4 10.5 Income from continuing operations before income taxes $ 42.2 $ 33.2 $ 110.7 $ 73.6 (1) Corporate expense generally includes corporate staff-related expense, stock-based compensation, LIFO adjustments, certain foreign currency-related gains and losses, and the impact of unusual or strategic events not representative of segment operations. (2) Refer to Note 14 . Restructuring for further information on restructuring expense.

Restructuring (Tables)

Restructuring (Tables)	9 Months Ended
	Sep. 30, 2019
Restructuring and Related Activities [Abstract]
Schedule of restructuring expense	The following table details the amounts reported in restructuring expense for the 2018 restructuring plan on the consolidated statement of income since the implementation of this plan: Cumulative Amount For the Three Months Ended Cumulative Amount (In millions) As of December 31, 2018 March 31, 2019 June 30, 2019 September 30, 2019 As of September 30, 2019 Severance and related expense 18.5 1.6 3.6 1.0 24.7 Other 34.7 4.8 2.9 1.3 43.7 Total restructuring charges $ 53.2 $ 6.4 $ 6.5 $ 2.3 $ 68.4
Schedule of restructuring reserve by type of cost	Liability balances for restructuring activities are included in other current liabilities in the accompanying Balance Sheet. The table below details the activities in 2019: Impact to Earnings (In millions) Balance as of Charged to Earnings Release of Liability Payments Made Balance as of Severance and related expense $ 8.4 $ 6.2 $ (3.7 ) $ (4.3 ) 6.6 Other 11.0 9.0 — (19.0 ) 1.0 Total $ 19.4 $ 15.2 $ (3.7 ) $ (23.3 ) 7.6 The Company released $ 3.7 million of the liability during the nine months ended September 30, 2019

Description of Business and B_3

Description of Business and Basis of Presentation - Narrative (Details) - USD ($) $ in Millions	Sep. 30, 2019	Jan. 01, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
ROU assets	$ 31.7	$ 32.3
Lease liability, current	10.3	10.8
Lease liability, noncurrent	$ 23.1	23.3
Accounting Standards Update 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
ROU assets		32.3
Lease liability, current		10.8
Lease liability, noncurrent		23.3
Deferred tax assets		8.8
Deferred tax liability		$ 8.8

Acquisitions - Narrative (Detai

Acquisitions - Narrative (Details)	May 31, 2019USD ($)	Feb. 01, 2019USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2018USD ($)	Sep. 30, 2019USD ($)acquisition
Business Acquisition [Line Items]
Number of businesses acquired | acquisition					5
Consideration paid to acquire business		$ 442.8	$ 368,400,000	$ 57,600,000	$ 442,800,000
Proseal
Business Acquisition [Line Items]
Consideration paid to acquire business	$ 275,300,000
Aggregate revenues			32,300,000
Aggregate losses			900,000
Prime And Lektro
Business Acquisition [Line Items]
Aggregate revenues			37,300,000
Aggregate losses			$ 1,800,000

Acquisitions - Fair Values of A

Acquisitions - Fair Values of Assets Acquired and Liabilities Assumed (Details) - USD ($)	May 31, 2019	Feb. 01, 2019	Jul. 12, 2018	Jan. 26, 2018	Sep. 30, 2019	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Dec. 31, 2018
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract]
Financial assets		$ 84.9
Inventories		56.4
Property, plant and equipment		37.8
Other intangible assets		161.5
Deferred tax liabilities		(23.6)
Financial liabilities		(87.1)
Total identifiable net assets		229.9
Cash consideration paid		439.7
Contingent consideration		16			$ 15,800,000	$ 15,800,000		$ 15,800,000
Holdback payment due to seller		0.9
Total consideration		456.6
Cash acquired		13.8
Net consideration		442.8				368,400,000	$ 57,600,000	442,800,000
Goodwill		226.7			516,900,000	516,900,000		516,900,000	$ 321,400,000
Goodwill expected to be tax deductible					34,800,000	$ 34,800,000		34,800,000
Minimum
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract]
Intangible assets useful lives						7 years
Maximum
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract]
Intangible assets useful lives						20 years
Customer Relationships
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract]
Other intangible assets					86,000,000	$ 86,000,000		86,000,000
Intangible assets useful lives						14 years
Technology-Based Intangible Assets
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract]
Other intangible assets					37,600,000	$ 37,600,000		37,600,000
Intangible assets useful lives						9 years
Trade Names
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract]
Other intangible assets					14,700,000	$ 14,700,000		14,700,000
Intangible assets useful lives						20 years
Proseal
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract]
Financial assets	$ 45,900,000
Inventories	26,200,000
Property, plant and equipment	24,700,000
Other intangible assets	90,500,000
Deferred tax liabilities	(15,600,000)
Financial liabilities	(35,100,000)
Total identifiable net assets	136,600,000
Cash consideration paid	264,900,000
Contingent consideration	14,700,000
Holdback payment due to seller	0
Total consideration	279,600,000
Cash acquired	4,300,000
Net consideration	275,300,000
Goodwill	143,000,000
Adjustment to other intangibles					(2,800,000)
Adjustment to property, plant and equipment					2,000,000
Adjustment to inventory					(700,000)
Adjustment to trade receivables					(700,000)
Increase in goodwill					2,200,000
Proseal | January 1, 2020 Through December 31, 2020
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract]
Contingent earn-out payment					17,700,000	$ 17,700,000		17,700,000
Prime
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract]
Financial assets	13,300,000
Inventories	11,700,000
Property, plant and equipment	1,500,000
Other intangible assets	28,400,000
Deferred tax liabilities	0
Financial liabilities	(22,300,000)
Total identifiable net assets	32,600,000
Cash consideration paid		62,600,000
Contingent consideration	1,300,000
Holdback payment due to seller		900,000
Total consideration	64,800,000
Cash acquired	1,400,000
Net consideration	63,400,000
Goodwill	$ 32,200,000
Adjustment to other intangibles					1,900,000
Adjustment to property, plant and equipment					(1,200,000)
Adjustment to inventory					4,800,000
Increase in goodwill					5,000,000
Adjustments to advance and progress payments					(9,400,000)
Adjustment to accrued liabilities					(1,100,000)
Prime | January 1, 2020 Through December 31, 2020 | Minimum
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract]
Contingent earn-out payment					0	0		0
Prime | January 1, 2020 Through December 31, 2020 | Maximum
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract]
Contingent earn-out payment					500,000	500,000		500,000
Prime | June 1, 2019 Through December 31, 2019 | Minimum
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract]
Contingent earn-out payment					0	0		0
Prime | June 1, 2019 Through December 31, 2019 | Maximum
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract]
Contingent earn-out payment					$ 1,000,000	$ 1,000,000		$ 1,000,000
LEKTRO
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract]
Financial assets		4,200,000
Inventories		7,400,000
Property, plant and equipment		300,000
Other intangible assets		19,400,000
Deferred tax liabilities		(5,000,000)
Financial liabilities		(4,600,000)
Total identifiable net assets		21,700,000
Cash consideration paid		48,300,000
Contingent consideration		0
Holdback payment due to seller		0
Total consideration		48,300,000
Cash acquired		1,700,000
Net consideration		46,600,000
Goodwill		$ 26,600,000
FTNON
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract]
Financial assets			$ 17,200,000
Inventories			4,500,000
Property, plant and equipment			3,900,000
Other intangible assets			19,000,000
Deferred tax liabilities			(3,400,000)
Financial liabilities			(20,600,000)
Total identifiable net assets			20,600,000
Cash consideration paid			43,600,000
Contingent consideration			0
Holdback payment due to seller			0
Total consideration			43,600,000
Cash acquired			4,900,000
Net consideration			38,700,000
Goodwill			$ 23,000,000
Schroder
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract]
Financial assets				$ 4,300,000
Inventories				6,600,000
Property, plant and equipment				7,400,000
Other intangible assets				4,200,000
Deferred tax assets				400,000
Financial liabilities				(4,500,000)
Total identifiable net assets				18,400,000
Cash consideration paid				20,300,000
Contingent consideration				0
Holdback payment due to seller				0
Total consideration				20,300,000
Cash acquired				1,500,000
Net consideration				18,800,000
Goodwill				$ 1,900,000

Acquisitions - Pro Forma Financ

Acquisitions - Pro Forma Financial Information (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Revenue
As reported	$ 489.4	$ 481.9	$ 1,400.2	$ 1,382.4
Net Earnings
As reported	$ 33.5	$ 26.4	$ 87.2	$ 61.5
As reported
Basic earnings per share from continuing operations (in dollars per share)	$ 1.05	$ 0.83	$ 2.74	$ 1.93
Diluted earnings per share from continuing operations (in dollars per share)	$ 1.04	$ 0.82	$ 2.72	$ 1.91
Proseal
Revenue
Pro forma	$ 489.4	$ 504.7	$ 1,438.6	$ 1,452.2
Net Earnings
Pro forma	$ 37.4	$ 27.5	$ 93.4	$ 61
Pro forma
Basic (in dollars per share)	$ 1.17	$ 0.86	$ 2.93	$ 1.91
Fully diluted (in dollars per share)	$ 1.17	$ 0.86	$ 2.91	$ 1.89

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Schedule of Goodwill (Details) $ in Millions	9 Months Ended
	Sep. 30, 2019USD ($)
Goodwill [Roll Forward]
Balance as of December 31, 2018	$ 321.4
Acquisitions	201.8
Currency translation	(6.3)
Balance as of September 30, 2019	516.9
JBT FoodTech
Goodwill [Roll Forward]
Balance as of December 31, 2018	310.3
Acquisitions	175.2
Currency translation	(6.1)
Balance as of September 30, 2019	479.4
JBT AeroTech
Goodwill [Roll Forward]
Balance as of December 31, 2018	11.1
Acquisitions	26.6
Currency translation	(0.2)
Balance as of September 30, 2019	$ 37.5

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Schedule of Intangible Assets (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	$ 449.7	$ 318.4
Accumulated amortization	123.8	104.5
Non-amortizing intangible assets	15.4	15.6
Customer relationship
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	248.4	165.5
Accumulated amortization	56.7	45.2
Patents and acquired technology
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	134.5	99.8
Accumulated amortization	44.3	38.2
Trademarks
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	36.8	23.1
Accumulated amortization	10.9	10.3
Other
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	14.6	14.4
Accumulated amortization	$ 11.9	$ 10.8

Inventories - Schedule of Inven

Inventories - Schedule of Inventories (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Inventory Disclosure [Abstract]
Raw materials	$ 106	$ 82.1
Work in process	69.7	70.6
Finished goods	158.6	118.8
Gross inventories before LIFO reserves and valuation adjustments	334.3	271.5
LIFO reserves	(50.1)	(48.2)
Valuation adjustments	(20.2)	(17.2)
Net inventories	$ 264	$ 206.1

Pension - Components of Net Per

Pension - Components of Net Periodic Benefit Cost (Details) - Pension Benefits - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 0.4	$ 0.4	$ 1.3	$ 1.4
Interest cost	2.9	2.7	8.4	8.1
Expected return on plan assets	(3.8)	(4.4)	(11.4)	(12.9)
Settlement charge	0	0	0	0.4
Amortization of net actuarial losses	1.4	1.7	4.5	5
Net periodic cost	$ 0.9	$ 0.4	$ 2.8	$ 2

Pension - Narrative (Details)

Pension - Narrative (Details) $ in Millions	9 Months Ended
	Sep. 30, 2019USD ($)
Defined Benefit Plan Disclosure [Line Items]
Expected employer contributions to pension and other postretirement benefit plans in current year	$ 8.1
UNITED STATES
Defined Benefit Plan Disclosure [Line Items]
Expected employer contributions to pension and other postretirement benefit plans in current year	6
Employer contributions made	$ 6

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) - Change in AOCI Balances (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 500	$ 410.6	$ 456.9	$ 441.9
Other comprehensive income (loss) before reclassification	(9.2)	(2.9)	(12.3)	(19.1)
Amounts reclassified from accumulated other comprehensive income	0.3	0.9	1	3.6
Ending balance	523.7	432.4	523.7	432.4
Accumulated Other Comprehensive Income (Loss)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(188.9)	(153.8)	(186.5)	(140.3)
Ending balance	(197.8)	(155.8)	(197.8)	(155.8)
Pension and Other Postretirement Benefits
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(137.6)	(111.1)	(140.4)	(113.9)
Other comprehensive income (loss) before reclassification	0	0	0.4	0
Amounts reclassified from accumulated other comprehensive income	1.1	1.2	3.5	4
Ending balance	(136.5)	(109.9)	(136.5)	(109.9)
Derivatives Designated as Hedges
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	0.4	2.9	2	1.4
Other comprehensive income (loss) before reclassification	0.1	0.3	(0.8)	1.9
Amounts reclassified from accumulated other comprehensive income	(0.3)	(0.3)	(1)	(0.4)
Ending balance	0.2	2.9	0.2	2.9
Foreign Currency Translation
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(51.7)	(45.6)	(48.1)	(27.8)
Other comprehensive income (loss) before reclassification	(9.3)	(3.2)	(11.9)	(21)
Amounts reclassified from accumulated other comprehensive income	(0.5)	0	(1.5)	0
Ending balance	$ (61.5)	$ (48.8)	$ (61.5)	$ (48.8)

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Income (Loss) - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Accumulated Other Comprehensive Income (Loss) [Line Items]
Charges to pension expense	$ 0.5	$ 0	$ 1.5	$ 0.6
Income tax provision (benefit)	8.7	6.8	23.5	12.1
Reclassification adjustments for foreign currency translation	0.7		2.1
Reclassification adjustment for foreign currency translation, tax	0.2		0.6
Reclassification out of Accumulated Other Comprehensive Income | Pension and Other Postretirement Benefits
Accumulated Other Comprehensive Income (Loss) [Line Items]
Charges to pension expense	1.3	1.7	4.5	5.3
Income tax provision (benefit)	(0.2)	0.5	(1)	1.3
Reclassification out of Accumulated Other Comprehensive Income | Derivatives Designated as Hedges
Accumulated Other Comprehensive Income (Loss) [Line Items]
Income tax provision (benefit)	0	0.1	(0.3)	0.2
Interest expense, net	$ 0.3	$ (0.4)	$ 1.3	$ (0.6)

Revenue Recognition - Disaggreg

Revenue Recognition - Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
JBT FoodTech
Disaggregation of Revenue [Line Items]
Revenue	$ 334.3	$ 332.5	$ 972.2	$ 997.7
JBT FoodTech | North America
Disaggregation of Revenue [Line Items]
Revenue	167.8	174.7	503.5	501.5
JBT FoodTech | Europe, Middle East and Africa
Disaggregation of Revenue [Line Items]
Revenue	98.4	101.7	269.4	308.1
JBT FoodTech | Asia Pacific
Disaggregation of Revenue [Line Items]
Revenue	42.6	27.7	124.3	126.9
JBT FoodTech | Latin America
Disaggregation of Revenue [Line Items]
Revenue	25.5	28.4	75	61.2
JBT FoodTech | Recurring
Disaggregation of Revenue [Line Items]
Revenue	150	129.4	428.7	387.6
JBT FoodTech | Non-Recurring
Disaggregation of Revenue [Line Items]
Revenue	184.3	203.1	543.5	610.1
JBT AeroTech
Disaggregation of Revenue [Line Items]
Revenue	155	149.5	427.8	384.6
JBT AeroTech | North America
Disaggregation of Revenue [Line Items]
Revenue	134	105.2	353.9	298.2
JBT AeroTech | Europe, Middle East and Africa
Disaggregation of Revenue [Line Items]
Revenue	15.8	32.8	59.3	58.4
JBT AeroTech | Asia Pacific
Disaggregation of Revenue [Line Items]
Revenue	4.4	9.2	12.5	25.2
JBT AeroTech | Latin America
Disaggregation of Revenue [Line Items]
Revenue	0.8	2.3	2.1	2.8
JBT AeroTech | Recurring
Disaggregation of Revenue [Line Items]
Revenue	49.5	45.7	152.3	135.1
JBT AeroTech | Non-Recurring
Disaggregation of Revenue [Line Items]
Revenue	105.5	103.8	275.5	249.5
Point in Time | JBT FoodTech
Disaggregation of Revenue [Line Items]
Revenue	150.4	211.7	456.4	563.5
Point in Time | JBT AeroTech
Disaggregation of Revenue [Line Items]
Revenue	88.7	101.7	243.8	243.2
Over Time | JBT FoodTech
Disaggregation of Revenue [Line Items]
Revenue	183.9	120.8	515.8	434.2
Over Time | JBT AeroTech
Disaggregation of Revenue [Line Items]
Revenue	$ 66.3	$ 47.8	$ 184	$ 141.4

Revenue Recognition - Contract

Revenue Recognition - Contract Assets and Liabilities (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Revenue from Contract with Customer [Abstract]
Contract assets	$ 80.3	$ 70.3
Contract liabilities	$ 86.6	$ 124.5

Revenue Recognition - Revenue R

Revenue Recognition - Revenue Recognition (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Revenue from Contract with Customer [Abstract]
Revenue, remaining performance obligation, amount	$ 239.5
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, period	3 months
Revenue, percentage to be recognized		37.00%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, period	1 year
Revenue, percentage to be recognized		50.00%

Revenue Recognition - Narrative

Revenue Recognition - Narrative (Details) $ in Millions	9 Months Ended
	Sep. 30, 2019USD ($)
Revenue from Contract with Customer [Abstract]
Contract liability, revenue recognized	$ 104.3
Assumed contract liabilities	$ 11.4

Earnings Per Share - Computatio

Earnings Per Share - Computation of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Basic earnings per share:
Income from continuing operations	$ 33.5	$ 26.4	$ 87.2	$ 61.5
Weighted average number of shares outstanding (in shares)	31.9	31.9	31.9	31.9
Basic earnings per share from continuing operations (in dollars per share)	$ 1.05	$ 0.83	$ 2.74	$ 1.93
Diluted earnings per share:
Income from continuing operations	$ 33.5	$ 26.4	$ 87.2	$ 61.5
Weighted average number of shares outstanding (in shares)	31.9	31.9	31.9	31.9
Effect of dilutive securities:
Restricted stock (in shares)	0.2	0.2	0.1	0.3
Total shares and dilutive securities (in shares)	32.1	32.1	32	32.2
Diluted earnings per share from continuing operations (in dollars per share)	$ 1.04	$ 0.82	$ 2.72	$ 1.91

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Sep. 30, 2019	Feb. 01, 2019
Fair Value Disclosures [Abstract]
Unrealized gain (loss) on investments	$ (2,400,000)
Contingent consideration		$ 15,800,000	$ 16
Contingent liability, noncurrent		14,900,000
Contingent liability, current		$ 900,000

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Schedule of Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($)	Sep. 30, 2019	Feb. 01, 2019	Dec. 31, 2018
Assets:
Derivatives	$ 13,600,000		$ 7,700,000
Liabilities:
Derivatives	6,600,000		2,000,000
Contingent consideration	15,800,000	$ 16
Fair Value, Measurements, Recurring
Assets:
Investments	13,600,000		12,300,000
Derivatives	13,600,000		7,700,000
Total assets	27,200,000		20,000,000
Liabilities:
Derivatives	6,600,000		2,000,000
Contingent consideration	15,800,000		0
Total liabilities	22,400,000		2,000,000
Fair Value, Measurements, Recurring | Level 1
Assets:
Investments	13,600,000		12,300,000
Derivatives	0		0
Total assets	13,600,000		12,300,000
Liabilities:
Derivatives	0		0
Contingent consideration	0		0
Total liabilities	0		0
Fair Value, Measurements, Recurring | Level 2
Assets:
Investments	0		0
Derivatives	13,600,000		7,700,000
Total assets	13,600,000		7,700,000
Liabilities:
Derivatives	6,600,000		2,000,000
Contingent consideration	0		0
Total liabilities	6,600,000		2,000,000
Fair Value, Measurements, Recurring | Level 3
Assets:
Investments	0		0
Derivatives	0		0
Total assets	0		0
Liabilities:
Derivatives	0		0
Contingent consideration	15,800,000		0
Total liabilities	$ 15,800,000		$ 0

Derivative Financial Instrume_3

Derivative Financial Instruments and Risk Management - Narrative (Details) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2019USD ($)derivative	Sep. 30, 2019USD ($)derivative	Dec. 31, 2018USD ($)
Derivatives, Fair Value [Line Items]
Fair value of derivative asset	$ 13.6	$ 13.6	$ 7.7
Not Designated as Hedging Instrument | Foreign Exchange Contract
Derivatives, Fair Value [Line Items]
Derivative, term of contract (less than)		2 years
Notional amount	565.1	$ 565.1
Net Investment Hedging | Designated as Hedging Instrument | Interest Rate Swap
Derivatives, Fair Value [Line Items]
Cross currency swap amount	$ 116.4	116.4
Net investment hedge recorded in other comprehensive income (loss)		$ 6.4
Cash Flow Hedging | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Number of derivative instruments held | derivative	3	3
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax		$ 0.2
Other Current Assets | Cash Flow Hedging | Designated as Hedging Instrument | Interest Rate Swap
Derivatives, Fair Value [Line Items]
Fair value of derivative asset	$ 0.1	0.1
Other Assets | Net Investment Hedging | Designated as Hedging Instrument | Interest Rate Swap
Derivatives, Fair Value [Line Items]
Net investment hedge recorded in other comprehensive income (loss)		8.6
Other Assets | Cash Flow Hedging | Designated as Hedging Instrument | Interest Rate Swap
Derivatives, Fair Value [Line Items]
Fair value of derivative asset	0.1	$ 0.1
Interest Expense | Net Investment Hedging | Designated as Hedging Instrument | Interest Rate Swap
Derivatives, Fair Value [Line Items]
Gain (loss) recorded in interest expense	$ 2.1

Derivative Financial Instrume_4

Derivative Financial Instruments and Risk Management - Fair Value of Foreign Currency Derivatives in Balance Sheet (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Derivative [Line Items]
Derivative Assets	$ 13.6	$ 7.7
Derivative Liabilities	6.6	2
Foreign Currency Derivatives and Embedded Derivatives
Derivative [Line Items]
Derivative Assets	4.9	3.7
Derivative Liabilities	$ 6.8	$ 2.1

Derivative Financial Instrume_5

Derivative Financial Instruments and Risk Management - Derivative Assets at Fair Value (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Assets	$ 13.6	$ 7.7
Gross Amounts Offset in the Consolidated Balance Sheet	0	0
Net Presented in the Consolidated Balance Sheet	13.6	7.7
Amount Subject to Master Netting Agreement	(2.3)	(1.5)
Net Amount	$ 11.3	$ 6.2

Derivative Financial Instrume_6

Derivative Financial Instruments and Risk Management - Derivative Liabilities at Fair Value (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Liabilities	$ 6.6	$ 2
Gross Amounts Offset in the Consolidated Balance Sheet	0	0
Net Presented in the Consolidated Balance Sheet	6.6	2
Amount Subject to Master Netting Agreement	(2.3)	(1.5)
Net Amount	$ 4.3	$ 0.5

Derivative Financial Instrume_7

Derivative Financial Instruments and Risk Management - Location and Amount of Gain (Loss) on Foreign Currency Derivatives (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Derivative Instruments, Gain (Loss) [Line Items]
Amount of (Loss) Gain Recognized in Income on Derivatives	$ (1.6)	$ (0.8)	$ (5.2)	$ (3.8)
Remeasurement of assets and liabilities in foreign currencies	0.5	0.7	2.1	2.2
Net gain (loss) on foreign currency transactions	(1.1)	(0.1)	(3.1)	(1.6)
Revenue
Derivative Instruments, Gain (Loss) [Line Items]
Amount of (Loss) Gain Recognized in Income on Derivatives	(2.2)	(0.8)	(5.2)	(4.3)
Cost of sales
Derivative Instruments, Gain (Loss) [Line Items]
Amount of (Loss) Gain Recognized in Income on Derivatives	1.3	(0.1)	2.5	0.1
Selling, general and administrative expense
Derivative Instruments, Gain (Loss) [Line Items]
Amount of (Loss) Gain Recognized in Income on Derivatives	$ (0.7)	$ 0.1	$ (2.5)	$ 0.4

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2019	Sep. 30, 2019	Dec. 31, 2018	Jan. 01, 2019
Lessee, Lease, Description [Line Items]
Lease cost	$ 3.7	$ 10.5
Right of use asset	31.7	31.7		$ 32.3
Rent expense			$ 10.5
Sales-type lease revenue	1.2	1.4
Sales-type and Direct Financing Leases, Lease Receivable, Fiscal Year Maturity [Abstract]
Due in less than 1 year	2.2	2.2
Due in year 1	1.1	1.1
Due in year 2	0.3	$ 0.3
Real Estate Leases
Lessee, Lease, Description [Line Items]
Percentage of leases related to real estate		84.00%
Right of use asset	$ 3.1	$ 3.1

Leases - Lease Information (Det

Leases - Lease Information (Details) - USD ($) $ in Millions	Sep. 30, 2019	Jan. 01, 2019
Assets:
ROU assets	$ 31.7	$ 32.3
Liabilities
Current	10.3	10.8
Non-current	23.1	23.3
Total lease liabilities	$ 33.4	$ 34.1
Weighted-average remaining lease term (years )	4 years 7 months	4 years 3 months
Weighted-average discount rate	5.40%	5.70%

Leases - Maturity of Operating

Leases - Maturity of Operating Lease Payments (Details) - USD ($) $ in Millions	Sep. 30, 2019	Jan. 01, 2019
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
Year 1	$ 11.7
Year 2	8.5
Year 3	5.2
Year 4	4
Year 5	3
After Year 5	5.3
Total lease payments	37.7
Less: Interest on lease payments	(4.3)
Present value of lease liabilities	$ 33.4	$ 34.1

Leases - Other Information (Det

Leases - Other Information (Details) $ in Millions	9 Months Ended
	Sep. 30, 2019USD ($)
Leases [Abstract]
Operating cash flows from operating leases	$ 10
ROU assets arising from obtaining new operating lease obligations	$ 9.1

Leases - Operating Lease Obliga

Leases - Operating Lease Obligations (Details)	Dec. 31, 2018USD ($)
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
Total Amount	$ 39.6
2019	12.7
2020	9.7
2021	5.6
2022	3.7
2023	2.9
After 2024	$ 5

Leases - Lease Revenue (Details

Leases - Lease Revenue (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019
Leases [Abstract]
Fixed payment revenue	$ 17.8	$ 50.7
Variable payment revenue	3.2	13.8
Total	$ 21	$ 64.5

Leases - Lessor Maturity Analys

Leases - Lessor Maturity Analysis (Details) $ in Millions	Sep. 30, 2019USD ($)
Operating Leases, Future Minimum Payments Receivable [Abstract]
Less than 1 Year	$ 46.2
Year 1	48.9
Year 2	39.6
Year 3	28.2
Year 4	13
Year 5	3.2
After Year 5	2.3
Total lease revenue	$ 181.4

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details) $ in Millions	9 Months Ended
	Sep. 30, 2019USD ($)
Product Warranty Liability [Line Items]
Guarantor obligations, expiration term	P2Y
Performance Guarantee
Product Warranty Liability [Line Items]
Guarantor obligations, maximum exposure, undiscounted	$ 196.2
Financial Guarantee
Product Warranty Liability [Line Items]
Guarantor obligations, maximum exposure, undiscounted	6.7
Customers Financing Arrangements Guarantee
Product Warranty Liability [Line Items]
Guarantor obligations, maximum exposure, undiscounted	4.1
Guarantor obligations, maximum exposure, undiscounted, net	$ 0.2
Minimum
Product Warranty Liability [Line Items]
Guarantor obligations, amount recoverable from third-parties (as a percent)	75.00%
Maximum
Product Warranty Liability [Line Items]
Guarantor obligations, amount recoverable from third-parties (as a percent)	95.00%

Commitments and Contingencies_2

Commitments and Contingencies - Schedule of Warranty Cost and Accrual Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Movement in Standard Product Warranty Accrual [Roll Forward]
Balance at beginning of period	$ 12.4	$ 13.2	$ 13.5	$ 14.5
Expense for new warranties	4.1	4	10.2	9.2
Adjustments to existing accruals	(0.2)	(0.3)	(1.4)	(1.3)
Claims paid	(4.5)	(4)	(11.4)	(9.4)
Added through acquisition	0.6	0.3	1.6	0.5
Translation	(0.2)	0	(0.3)	(0.3)
Balance at end of period	$ 12.2	$ 13.2	$ 12.2	$ 13.2

Business Segment Information -

Business Segment Information - Schedule of Segment Revenue and Operating Profit (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Segment Reporting Information [Line Items]
Revenue	$ 489.4	$ 481.9	$ 1,400.2	$ 1,382.4
Corporate expense	(97.7)	(86.9)	(293.1)	(261.5)
Restructuring expense	(1.3)	(11.6)	(11.5)	(32.8)
Operating income	48.6	36.6	125.6	84.7
Periodic pension cost, net	(0.5)	0	(1.5)	(0.6)
Income from continuing operations before income taxes	42.2	33.2	110.7	73.6
Operating segments
Segment Reporting Information [Line Items]
Segment operating profit	64.7	59.5	182.7	151
Operating segments | JBT FoodTech
Segment Reporting Information [Line Items]
Revenue	334.3	332.5	972.2	997.7
Segment operating profit	42.5	41.9	132.5	110.8
Operating segments | JBT AeroTech
Segment Reporting Information [Line Items]
Revenue	155	149.5	427.8	384.6
Segment operating profit	22.2	17.6	50.2	40.2
Other revenue and intercompany eliminations
Segment Reporting Information [Line Items]
Revenue	0.1	(0.1)	0.2	0.1
Corporate, non-segment
Segment Reporting Information [Line Items]
Corporate expense	14.8	11.3	45.6	33.5
Restructuring expense	1.3	11.6	11.5	32.8
Operating income	48.6	36.6	125.6	84.7
Periodic pension cost, net	0.5	0	1.5	0.6
Interest expense, net	$ 5.9	$ 3.4	$ 13.4	$ 10.5

Restructuring - Narrative (Deta

Restructuring - Narrative (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
Restructuring Cost and Reserve [Line Items]
Restructuring charges, release of liability	$ 3.7
Restructuring costs incurred to date	68.4	$ 53.2
Restructuring Plan, Tipper Tie
Restructuring Cost and Reserve [Line Items]
Restructuring costs incurred to date	3
JBT Global Business
Restructuring Cost and Reserve [Line Items]
Restructuring charges, release of liability	9.9
Restructuring and related costs, incurred cost	58.5
Severance and related expense
Restructuring Cost and Reserve [Line Items]
Restructuring charges, release of liability	3.7
Restructuring costs incurred to date	24.7	$ 18.5
Maximum | JBT Global Business
Restructuring Cost and Reserve [Line Items]
Total expected restructuring cost under plan	$ 60

Restructuring - Restructuring E

Restructuring - Restructuring Expense (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2019	Dec. 31, 2018
Restructuring Cost and Reserve [Line Items]
Cumulative amount of restructuring costs	$ 68.4			$ 68.4	$ 53.2
Restructuring charges	2.3	$ 6.5	$ 6.4	15.2
Severance and related expense
Restructuring Cost and Reserve [Line Items]
Cumulative amount of restructuring costs	24.7			24.7	18.5
Restructuring charges	1	3.6	1.6	6.2
Other
Restructuring Cost and Reserve [Line Items]
Cumulative amount of restructuring costs	43.7			43.7	$ 34.7
Restructuring charges	$ 1.3	$ 2.9	$ 4.8	$ 9

Restructuring - Schedule of Res

Restructuring - Schedule of Restructuring Reserve by Type of Cost (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2019
Restructuring Reserve [Roll Forward]
December 31, 2018			$ 19.4	$ 19.4
Charged to Earnings	$ 2.3	$ 6.5	6.4	15.2
Release of Liability				(3.7)
Payments Made				(23.3)
September 30, 2019	7.6			7.6
Severance and related expense
Restructuring Reserve [Roll Forward]
December 31, 2018			8.4	8.4
Charged to Earnings	1	3.6	1.6	6.2
Release of Liability				(3.7)
Payments Made				(4.3)
September 30, 2019	6.6			6.6
Other
Restructuring Reserve [Roll Forward]
December 31, 2018			11	11
Charged to Earnings	1.3	$ 2.9	$ 4.8	9
Release of Liability				0
Payments Made				(19)
September 30, 2019	$ 1			$ 1

Related Party Transactions - Na

Related Party Transactions - Narrative (Details) - USD ($) $ in Millions	Nov. 01, 2019	Sep. 30, 2019	Jan. 01, 2019
Related Party Transaction [Line Items]
Right of use asset		$ 31.7	$ 32.3
Lease liability		$ 33.4	$ 34.1
Manufacturing Facility Lease | Affiliated Entity
Related Party Transaction [Line Items]
Term of lease		8 years
Forecast [Member] | Manufacturing Facility Lease | Affiliated Entity
Related Party Transaction [Line Items]
Right of use asset	$ 4
Lease liability	$ 4

Uncategorized Items - a93019-jb

Label	Element	Value
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ (30,400,000)
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	(2,400,000)
Retained Earnings [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	(30,400,000)
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ (2,400,000)