XML 55 R44.htm IDEA: XBRL DOCUMENT v3.21.2
Business Segment Information (Tables)
9 Months Ended
Jun. 30, 2021
Segment Reporting [Abstract]  
Schedule of Net Sales by Product Lines and Reportable Segments

Selected financial information concerning the Company’s reportable segments and product lines is as follows (in millions):

 

 

Three Months Ended June 30,

 

 

 

2021

 

 

2020

 

 

 

External

Customers

 

 

Inter-

segment

 

 

Net

Sales

 

 

External

Customers

 

 

Inter-

segment

 

 

Net

Sales

 

Access Equipment

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Aerial work platforms

 

$

450.9

 

 

$

 

 

$

450.9

 

 

$

221.0

 

 

$

 

 

$

221.0

 

Telehandlers

 

 

233.5

 

 

 

 

 

 

233.5

 

 

 

127.5

 

 

 

 

 

 

127.5

 

Other

 

 

238.7

 

 

 

1.2

 

 

 

239.9

 

 

 

131.4

 

 

 

8.1

 

 

 

139.5

 

Total Access Equipment

 

 

923.1

 

 

 

1.2

 

 

 

924.3

 

 

 

479.9

 

 

 

8.1

 

 

 

488.0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Defense (a)

 

 

709.9

 

 

 

0.5

 

 

 

710.4

 

 

 

558.1

 

 

 

3.1

 

 

 

561.2

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fire & Emergency (a)

 

 

298.4

 

 

 

4.1

 

 

 

302.5

 

 

 

297.6

 

 

 

2.0

 

 

 

299.6

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Refuse collection

 

 

137.4

 

 

 

 

 

 

137.4

 

 

 

99.2

 

 

 

 

 

 

99.2

 

Concrete placement

 

 

113.4

 

 

 

 

 

 

113.4

 

 

 

121.5

 

 

 

 

 

 

121.5

 

Other

 

 

26.6

 

 

 

0.7

 

 

 

27.3

 

 

 

24.4

 

 

 

2.6

 

 

 

27.0

 

Total Commercial

 

 

277.4

 

 

 

0.7

 

 

 

278.1

 

 

 

245.1

 

 

 

2.6

 

 

 

247.7

 

Corporate and intersegment eliminations (a)

 

 

 

 

 

(6.5

)

 

 

(6.5

)

 

 

0.1

 

 

 

(15.8

)

 

 

(15.7

)

Consolidated

 

$

2,208.8

 

 

$

 

 

$

2,208.8

 

 

$

1,580.8

 

 

$

 

 

$

1,580.8

 

(a)

Results have been reclassified to reflect the move of the airport snow removal vehicle business from the Fire & Emergency segment to the Defense segment.

 

 

 

 

Nine Months Ended June 30,

 

 

 

2021

 

 

2020

 

 

 

External

Customers

 

 

Inter-

segment

 

 

Net

Sales

 

 

External

Customers

 

 

Inter-

segment

 

 

Net

Sales

 

Access Equipment

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Aerial work platforms

 

$

1,087.1

 

 

$

 

 

$

1,087.1

 

 

$

800.7

 

 

$

 

 

$

800.7

 

Telehandlers

 

 

531.6

 

 

 

 

 

 

531.6

 

 

 

546.5

 

 

 

 

 

 

546.5

 

Other

 

 

603.4

 

 

 

4.1

 

 

 

607.5

 

 

 

543.6

 

 

 

8.1

 

 

 

551.7

 

Total Access Equipment

 

 

2,222.1

 

 

 

4.1

 

 

 

2,226.2

 

 

 

1,890.8

 

 

 

8.1

 

 

 

1,898.9

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Defense (a)

 

 

1,874.2

 

 

 

1.2

 

 

 

1,875.4

 

 

 

1,684.1

 

 

 

8.5

 

 

 

1,692.6

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fire & Emergency (a)

 

 

876.9

 

 

 

12.0

 

 

 

888.9

 

 

 

792.2

 

 

 

6.6

 

 

 

798.8

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Refuse collection

 

 

344.1

 

 

 

 

 

 

344.1

 

 

 

330.3

 

 

 

 

 

 

330.3

 

Concrete placement

 

 

278.4

 

 

 

 

 

 

278.4

 

 

 

286.9

 

 

 

 

 

 

286.9

 

Other

 

 

77.9

 

 

 

3.4

 

 

 

81.3

 

 

 

86.8

 

 

 

4.6

 

 

 

91.4

 

Total Commercial

 

 

700.4

 

 

 

3.4

 

 

 

703.8

 

 

 

704.0

 

 

 

4.6

 

 

 

708.6

 

Corporate and intersegment eliminations (a)

 

 

0.7

 

 

 

(20.7

)

 

 

(20.0

)

 

 

1.5

 

 

 

(27.8

)

 

 

(26.3

)

Consolidated

 

$

5,674.3

 

 

$

 

 

$

5,674.3

 

 

$

5,072.6

 

 

$

 

 

$

5,072.6

 

(a)

Results have been reclassified to reflect the move of the airport snow removal vehicle business from the Fire & Emergency segment to the Defense segment.

Schedule of Income (Loss) from Continuing Operations by Product Lines and Reportable Segments

 

 

Three Months Ended

June 30,

 

 

Nine Months Ended

June 30,

 

 

 

2021

 

 

2020

 

 

2021

 

 

2020

 

Operating income (loss):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Access Equipment (a)

 

$

113.0

 

 

$

33.5

 

 

$

218.4

 

 

$

173.3

 

Defense (b)

 

 

59.8

 

 

 

41.4

 

 

 

148.1

 

 

 

132.1

 

Fire & Emergency (b)

 

 

44.5

 

 

 

46.2

 

 

 

127.0

 

 

 

96.1

 

Commercial

 

 

29.6

 

 

 

23.8

 

 

 

60.3

 

 

 

49.7

 

Corporate

 

 

(43.1

)

 

 

(26.3

)

 

 

(113.3

)

 

 

(89.9

)

Consolidated

 

 

203.8

 

 

 

118.6

 

 

 

440.5

 

 

 

361.3

 

Interest expense, net of interest income

 

 

(11.7

)

 

 

(11.7

)

 

 

(34.3

)

 

 

(44.2

)

Miscellaneous other income (expense)

 

 

0.4

 

 

 

1.5

 

 

 

2.0

 

 

 

(4.7

)

Income before income taxes and losses of unconsolidated affiliates

 

$

192.5

 

 

$

108.4

 

 

$

408.2

 

 

$

312.4

 

(a)

Results for the three and nine months ended June 30, 2021 include a $0.2 million and $3.4 million charge for restructuring, respectively. The Company incurred additional charges of $1.1 million and $8.1 million of other costs related to restructuring plans in the three and nine months ended June 30, 2021, respectively.

(b)

Results have been reclassified to reflect the move of the airport snow removal vehicle business from the Fire & Emergency segment to the Defense segment.

Schedule of Identifiable Assets by Business Segments and by Geographical Areas

 

 

June 30,

2021

 

 

September 30,

2020

 

Identifiable assets:

 

 

 

 

 

 

 

 

Access Equipment:

 

 

 

 

 

 

 

 

U.S.

 

$

2,211.5

 

 

$

2,151.4

 

Europe, Africa and Middle East

 

 

447.6

 

 

 

383.4

 

Rest of the World

 

 

380.0

 

 

 

359.0

 

Total Access Equipment

 

 

3,039.1

 

 

 

2,893.8

 

Defense: (a)

 

 

 

 

 

 

 

 

U.S.

 

 

1,333.4

 

 

 

1,078.7

 

Rest of the World

 

 

4.8

 

 

 

7.2

 

Total Defense

 

 

1,338.2

 

 

 

1,085.9

 

Fire & Emergency - U.S. (a)

 

 

515.3

 

 

 

563.6

 

Commercial:

 

 

 

 

 

 

 

 

U.S.

 

 

358.9

 

 

 

370.7

 

Rest of the World

 

 

62.0

 

 

 

47.5

 

Total Commercial

 

 

420.9

 

 

 

418.2

 

Corporate - U.S. (b)

 

 

1,392.8

 

 

 

854.4

 

Consolidated

 

$

6,706.3

 

 

$

5,815.9

 

(a)

Results have been reclassified to reflect the move of the airport snow removal vehicle business from the Fire & Emergency segment to the Defense segment.

(b)

Primarily includes cash and short-term investments and the Company’s global headquarters.

Schedule of Net Sales by Geographical Areas

The following table presents net sales by geographic region based on product shipment destination (in millions):

 

 

 

Three Months Ended June 30, 2021

 

 

 

Access

Equipment

 

 

Defense

 

 

Fire &

Emergency

 

 

Commercial

 

 

Eliminations

 

 

Total

 

Net sales:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

North America

 

$

719.9

 

 

$

682.4

 

 

$

287.4

 

 

$

275.6

 

 

$

(6.5

)

 

$

1,958.8

 

Europe, Africa and Middle East

 

 

75.7

 

 

 

25.4

 

 

 

9.8

 

 

 

0.5

 

 

 

 

 

 

111.4

 

Rest of the World

 

 

128.7

 

 

 

2.6

 

 

 

5.3

 

 

 

2.0

 

 

 

 

 

 

138.6

 

Consolidated

 

$

924.3

 

 

$

710.4

 

 

$

302.5

 

 

$

278.1

 

 

$

(6.5

)

 

$

2,208.8

 

 

 

 

Three Months Ended June 30, 2020

 

 

 

Access Equipment

 

 

Defense (a)

 

 

Fire & Emergency (a)

 

 

Commercial

 

 

Eliminations (a)

 

 

Total

 

Net sales:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

North America

 

$

341.2

 

 

$

528.8

 

 

$

267.1

 

 

$

246.9

 

 

$

(15.7

)

 

$

1,368.3

 

Europe, Africa and Middle East

 

 

57.5

 

 

 

31.3

 

 

 

27.5

 

 

 

0.2

 

 

 

 

 

 

116.5

 

Rest of the World

 

 

89.3

 

 

 

1.1

 

 

 

5.0

 

 

 

0.6

 

 

 

 

 

 

96.0

 

Consolidated

 

$

488.0

 

 

$

561.2

 

 

$

299.6

 

 

$

247.7

 

 

$

(15.7

)

 

$

1,580.8

 

 

 

 

Nine Months Ended June 30, 2021

 

 

 

Access

Equipment

 

 

Defense

 

 

Fire &

Emergency

 

 

Commercial

 

 

Eliminations

 

 

Total

 

Net sales:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

North America

 

$

1,680.6

 

 

$

1,727.8

 

 

$

837.2

 

 

$

698.1

 

 

$

(20.0

)

 

$

4,923.7

 

Europe, Africa and Middle East

 

 

232.9

 

 

 

143.7

 

 

 

36.1

 

 

 

1.2

 

 

 

 

 

 

413.9

 

Rest of the World

 

 

312.7

 

 

 

3.9

 

 

 

15.6

 

 

 

4.5

 

 

 

 

 

 

336.7

 

Consolidated

 

$

2,226.2

 

 

$

1,875.4

 

 

$

888.9

 

 

$

703.8

 

 

$

(20.0

)

 

$

5,674.3

 

 

 

 

Nine Months Ended June 30, 2020

 

 

 

Access

Equipment

 

 

Defense (a)

 

 

Fire &

Emergency (a)

 

 

Commercial

 

 

Eliminations (a)

 

 

Total

 

Net sales:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

North America

 

$

1,442.2

 

 

$

1,633.6

 

 

$

739.7

 

 

$

699.6

 

 

$

(26.3

)

 

$

4,488.8

 

Europe, Africa and Middle East

 

 

216.4

 

 

 

55.1

 

 

 

28.3

 

 

 

1.1

 

 

 

 

 

 

300.9

 

Rest of the World

 

 

240.3

 

 

 

3.9

 

 

 

30.8

 

 

 

7.9

 

 

 

 

 

 

282.9

 

Consolidated

 

$

1,898.9

 

 

$

1,692.6

 

 

$

798.8

 

 

$

708.6

 

 

$

(26.3

)

 

$

5,072.6

 

(a)

Results have been reclassified to reflect the move of the airport snow removal vehicle business from the Fire & Emergency segment to the Defense segment.