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Business Segment Information (Tables) | 12 Months Ended
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Dec. 31, 2022
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):
|  | Year Ended December 31, 2022 |  |  | Three Months Ended December 31, 2021 (transition period) |
|  | External Customers |  |  | Inter- segment |  |  | Net Sales |  |  | External Customers |  |  | Inter- segment |  |  | Net Sales |
Net sales: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Access Equipment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Aerial work platforms |  | $ | 1,949.0 |  |  | $ | — |  |  | $ | 1,949.0 |  |  | $ | 415.3 |  |  | $ | — |  |  | $ | 415.3 |
Telehandlers |  |  | 1,174.8 |  |  |  | — |  |  |  | 1,174.8 |  |  |  | 210.6 |  |  |  | — |  |  |  | 210.6 |
Other |  |  | 848.1 |  |  |  | 0.2 |  |  |  | 848.3 |  |  |  | 207.4 |  |  |  | 0.2 |  |  |  | 207.6 |
Total Access Equipment |  |  | 3,971.9 |  |  |  | 0.2 |  |  |  | 3,972.1 |  |  |  | 833.3 |  |  |  | 0.2 |  |  |  | 833.5 |
Defense |  |  | 2,139.9 |  |  |  | 1.4 |  |  |  | 2,141.3 |  |  |  | 531.1 |  |  |  | 0.4 |  |  |  | 531.5 |
Fire & Emergency |  |  | 1,108.2 |  |  |  | 3.4 |  |  |  | 1,111.6 |  |  |  | 217.0 |  |  |  | 1.6 |  |  |  | 218.6 |
Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Refuse collection |  |  | 536.4 |  |  |  | — |  |  |  | 536.4 |  |  |  | 98.2 |  |  |  | — |  |  |  | 98.2 |
Concrete mixers |  |  | 419.2 |  |  |  | — |  |  |  | 419.2 |  |  |  | 88.8 |  |  |  | — |  |  |  | 88.8 |
Other |  |  | 106.2 |  |  |  | 2.3 |  |  |  | 108.5 |  |  |  | 23.2 |  |  |  | 0.4 |  |  |  | 23.6 |
Total Commercial |  |  | 1,061.8 |  |  |  | 2.3 |  |  |  | 1,064.1 |  |  |  | 210.2 |  |  |  | 0.4 |  |  |  | 210.6 |
Corporate and intersegment eliminations |  |  | 0.2 |  |  |  | (7.3 | ) |  |  | (7.1 | ) |  |  | 0.1 |  |  |  | (2.6 | ) |  |  | (2.5 | )
Consolidated |  | $ | 8,282.0 |  |  | $ | — |  |  | $ | 8,282.0 |  |  | $ | 1,791.7 |  |  | $ | — |  |  | $ | 1,791.7 |
|  | Year Ended September 30, |
|  | 2021 |  |  | 2020 |
|  | External Customers |  |  | Inter- segment |  |  | Net Sales |  |  | External Customers |  |  | Inter- segment |  |  | Net Sales |
Net sales: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Access Equipment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Aerial work platforms |  | $ | 1,471.4 |  |  | $ | — |  |  | $ | 1,471.4 |  |  | $ | 1,101.7 |  |  | $ | — |  |  | $ | 1,101.7 |
Telehandlers |  |  | 769.4 |  |  |  | — |  |  |  | 769.4 |  |  |  | 680.4 |  |  |  | — |  |  |  | 680.4 |
Other |  |  | 826.5 |  |  |  | 4.8 |  |  |  | 831.3 |  |  |  | 723.6 |  |  |  | 9.4 |  |  |  | 733.0 |
Total Access Equipment |  |  | 3,067.3 |  |  |  | 4.8 |  |  |  | 3,072.1 |  |  |  | 2,505.7 |  |  |  | 9.4 |  |  |  | 2,515.1 |
Defense |  |  | 2,524.1 |  |  |  | 1.5 |  |  |  | 2,525.6 |  |  |  | 2,300.4 |  |  |  | 11.1 |  |  |  | 2,311.5 |
Fire & Emergency |  |  | 1,211.6 |  |  |  | 15.0 |  |  |  | 1,226.6 |  |  |  | 1,098.0 |  |  |  | 9.0 |  |  |  | 1,107.0 |
Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Refuse collection |  |  | 465.9 |  |  |  | — |  |  |  | 465.9 |  |  |  | 437.2 |  |  |  | — |  |  |  | 437.2 |
Concrete mixers |  |  | 364.8 |  |  |  | — |  |  |  | 364.8 |  |  |  | 403.5 |  |  |  | — |  |  |  | 403.5 |
Other |  |  | 102.9 |  |  |  | 4.0 |  |  |  | 106.9 |  |  |  | 110.6 |  |  |  | 6.5 |  |  |  | 117.1 |
Total Commercial |  |  | 933.6 |  |  |  | 4.0 |  |  |  | 937.6 |  |  |  | 951.3 |  |  |  | 6.5 |  |  |  | 957.8 |
Corporate and intersegment eliminations |  |  | 0.7 |  |  |  | (25.3 | ) |  |  | (24.6 | ) |  |  | 1.4 |  |  |  | (36.0 | ) |  |  | (34.6 | )
Consolidated |  | $ | 7,737.3 |  |  | $ | — |  |  | $ | 7,737.3 |  |  | $ | 6,856.8 |  |  | $ | — |  |  | $ | 6,856.8 |
Schedule of Income (Loss) from Continuing Operations by Product Lines and Reportable Segments |
|  | Year Ended December 31, |  |  | Three Months Ended December 31, (transition period) |  |  | Year Ended September 30, |
|  | 2022 |  |  | 2021 |  |  | 2021 |  |  | 2020 |
Operating income (loss): |  |  |  |  |  |  |  |  |  |  |  |
Access Equipment (a) |  | $ | 313.2 |  |  | $ | 38.2 |  |  | $ | 278.2 |  |  | $ | 198.2 |
Defense (b) |  |  | 46.2 |  |  |  | 16.0 |  |  |  | 200.7 |  |  |  | 186.2 |
Fire & Emergency |  |  | 94.9 |  |  |  | 15.9 |  |  |  | 178.9 |  |  |  | 147.1 |
Commercial (c) |  |  | 59.5 |  |  |  | 2.4 |  |  |  | 81.7 |  |  |  | 79.0 |
Corporate |  |  | (141.5 | ) |  |  | (30.9 | ) |  |  | (147.4 | ) |  |  | (125.7 | )
Consolidated |  |  | 372.3 |  |  |  | 41.6 |  |  |  | 592.1 |  |  |  | 484.8 |
Interest expense, net of interest income (d) |  |  | (43.9 | ) |  |  | (11.8 | ) |  |  | (44.7 | ) |  |  | (51.8 | )
Miscellaneous other (expense) income (e) |  |  | (52.8 | ) |  |  | (5.6 | ) |  |  | (2.1 | ) |  |  | 2.2 |
Income before income taxes and losses of unconsolidated affiliates |  | $ | 275.6 |  |  | $ | 24.2 |  |  | $ | 545.3 |  |  | $ | 435.2 |
(a) Results for fiscal 2022 include expense of $4.6 million to eliminate cumulative translation adjustments upon liquidation of foreign entities and $2.2 million of restructuring costs. Results for the year ended September 30, 2021 include $3.1 million of restructuring costs and $7.4 million operating expenses related to restructuring plans. Results for the year ended September 30, 2020 include $10.4 million of restructuring costs and $4.7 million operating expenses related to restructuring plans. (b) Results for fiscal 2022 include a $5.6 million intan gible asset impairment charge. (c) Results for fiscal 2022 include a $2.1 million intangible asset impairment charge. Results for the year ended September 30, 2020 include $1.5 million of restructuring costs, $4.1 million of accelerated depreciation related to restructuring actions, a gain of $12.3 million arising from a business interruption insurance recovery and a gain on the sale of a business of $3.1 million. (d) Results for the year ended September 30, 2020 include $8.5 million in debt extinguishment costs and $3.3 million of interest income from an arbitration settlement in the Defense segment. (e) Results for fiscal 2022 include a $33.6 million charge from the settlement of a frozen pension plan. Results for the year ended September 30, 2020 include a $6.2 million gain from insurance proceeds in excess of property loss in the Commercial segment.
Schedule of Depreciation, Amortization and Capital Expenditure by Segment |
|  | Year Ended December 31, |  |  | Three Months Ended December 31, (transition period) |  |  | Year Ended September 30, |
|  | 2022 |  |  | 2021 |  |  | 2021 |  |  | 2020 |
Depreciation and amortization: |  |  |  |  |  |  |  |  |  |  |  |
Access Equipment (a) |  | $ | 37.4 |  |  | $ | 9.1 |  |  | $ | 37.9 |  |  | $ | 42.1 |
Defense |  |  | 29.9 |  |  |  | 7.9 |  |  |  | 27.8 |  |  |  | 20.1 |
Fire & Emergency |  |  | 11.5 |  |  |  | 2.7 |  |  |  | 10.0 |  |  |  | 10.0 |
Commercial (b) |  |  | 13.8 |  |  |  | 3.2 |  |  |  | 13.1 |  |  |  | 17.1 |
Corporate |  |  | 15.0 |  |  |  | 4.1 |  |  |  | 15.2 |  |  |  | 14.9 |
Consolidated |  | $ | 107.6 |  |  | $ | 27.0 |  |  | $ | 104.0 |  |  | $ | 104.2 |
Capital expenditures: |  |  |  |  |  |  |  |  |  |  |  |
Access Equipment (c) |  | $ | 65.7 |  |  | $ | 17.2 |  |  | $ | 55.8 |  |  | $ | 56.5 |
Defense |  |  | 168.2 |  |  |  | 12.1 |  |  |  | 23.8 |  |  |  | 32.4 |
Fire & Emergency |  |  | 30.8 |  |  |  | 6.5 |  |  |  | 8.1 |  |  |  | 6.7 |
Commercial |  |  | 11.4 |  |  |  | 6.4 |  |  |  | 21.3 |  |  |  | 18.9 |
Corporate |  |  | 3.6 |  |  |  | 1.0 |  |  |  | 5.8 |  |  |  | 15.7 |
Consolidated |  | $ | 279.7 |  |  | $ | 43.2 |  |  | $ | 114.8 |  |  | $ | 130.2 |
(a) Includes $3.6 million and $2.8 million of accelerated depreciation associated with restructuring actions in the years ended September 30, 2021 and 2020, respectively. (b) Includes $4.1 million of accelerated depreciation associated with restructuring actions in the year ended September 30, 2020. (c) Capital expenditures include both the purchase of property, plant and equipment and equipment held for rental.
Schedule of Identifiable Assets by Business Segments and by Geographical Areas |
|  | December 31, |  |  | September 30, |
|  | 2022 |  |  | 2021 |  |  | 2021 |
Identifiable assets: |  |  |  |  |  |  |  |  |
Access Equipment: |  |  |  |  |  |  |  |  |
U.S. |  | $ | 2,493.0 |  |  | $ | 2,348.8 |  |  | $ | 2,234.0 |
Europe, Africa and Middle East |  |  | 562.2 |  |  |  | 460.3 |  |  |  | 470.9 |
Rest of the world |  |  | 428.4 |  |  |  | 383.0 |  |  |  | 371.4 |
Total Access Equipment |  |  | 3,483.6 |  |  |  | 3,192.1 |  |  |  | 3,076.3 |
Defense: |  |  |  |  |  |  |  |  |
U.S. |  |  | 2,060.0 |  |  |  | 1,259.0 |  |  |  | 1,189.0 |
Rest of the world |  |  | 6.9 |  |  |  | 7.2 |  |  |  | 7.2 |
Total Defense |  |  | 2,066.9 |  |  |  | 1,266.2 |  |  |  | 1,196.2 |
Fire & Emergency - U.S. |  |  |  |  |  |  |  |  |
U.S. |  |  | 586.7 |  |  |  | 532.7 |  |  |  | 558.7 |
Rest of the World |  |  | 25.5 |  |  |  | — |  |  |  | — |
Total Fire & Emergency |  |  | 612.2 |  |  |  | 532.7 |  |  |  | 558.7 |
Commercial: |  |  |  |  |  |  |  |  |
U.S. |  |  | 476.7 |  |  |  | 415.0 |  |  |  | 418.9 |
Rest of the world |  |  | 39.1 |  |  |  | 45.1 |  |  |  | 54.8 |
Total Commercial |  |  | 515.8 |  |  |  | 460.1 |  |  |  | 473.7 |
Corporate - U.S. (a) |  |  | 1,050.5 |  |  |  | 1,398.6 |  |  |  | 1,730.8 |
Consolidated |  | $ | 7,729.0 |  |  | $ | 6,849.7 |  |  | $ | 7,035.7 |
(a) Primarily includes cash and short-term investments and the Company’s global headquarters.
Schedule of Net Sales by Geographical Areas | The following tables present net sales by geographic region based on product shipment destination (in millions):
|  | Year Ended December 31, 2022 |
|  | Access Equipment |  |  | Defense |  |  | Fire & Emergency |  |  | Commercial |  |  | Eliminations |  |  | Total |
Net sales: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
North America |  | $ | 3,298.9 |  |  | $ | 2,047.5 |  |  | $ | 1,075.6 |  |  | $ | 1,053.3 |  |  | $ | (7.1 | ) |  | $ | 7,468.2 |
Europe, Africa and Middle East |  |  | 353.0 |  |  |  | 92.7 |  |  |  | 7.4 |  |  |  | 2.1 |  |  |  | — |  |  |  | 455.2 |
Rest of the World |  |  | 320.2 |  |  |  | 1.1 |  |  |  | 28.6 |  |  |  | 8.7 |  |  |  | — |  |  |  | 358.6 |
Consolidated |  | $ | 3,972.1 |  |  | $ | 2,141.3 |  |  | $ | 1,111.6 |  |  | $ | 1,064.1 |  |  | $ | (7.1 | ) |  | $ | 8,282.0 |
|  | Three Months Ended December 31, 2021 (transition period) |
|  | Access Equipment |  |  | Defense |  |  | Fire & Emergency |  |  | Commercial |  |  | Eliminations |  |  | Total |
Net sales: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
North America |  | $ | 671.6 |  |  | $ | 523.4 |  |  | $ | 211.9 |  |  | $ | 206.9 |  |  | $ | (2.5 | ) |  | $ | 1,611.3 |
Europe, Africa and Middle East |  |  | 86.1 |  |  |  | 8.0 |  |  |  | 4.1 |  |  |  | 0.8 |  |  |  | — |  |  |  | 99.0 |
Rest of the World |  |  | 75.8 |  |  |  | 0.1 |  |  |  | 2.6 |  |  |  | 2.9 |  |  |  | — |  |  |  | 81.4 |
Consolidated |  | $ | 833.5 |  |  | $ | 531.5 |  |  | $ | 218.6 |  |  | $ | 210.6 |  |  | $ | (2.5 | ) |  | $ | 1,791.7 |
|  | Year Ended September 30, 2021 |
|  | Access Equipment |  |  | Defense |  |  | Fire & Emergency |  |  | Commercial |  |  | Eliminations |  |  | Total |
Net sales: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
North America |  | $ | 2,358.9 |  |  | $ | 2,337.8 |  |  | $ | 1,147.4 |  |  | $ | 929.0 |  |  | $ | (24.6 | ) |  | $ | 6,748.5 |
Europe, Africa and Middle East |  |  | 273.4 |  |  |  | 183.2 |  |  |  | 46.7 |  |  |  | 1.5 |  |  |  | — |  |  |  | 504.8 |
Rest of the World |  |  | 439.8 |  |  |  | 4.6 |  |  |  | 32.5 |  |  |  | 7.1 |  |  |  | — |  |  |  | 484.0 |
Consolidated |  | $ | 3,072.1 |  |  | $ | 2,525.6 |  |  | $ | 1,226.6 |  |  | $ | 937.6 |  |  | $ | (24.6 | ) |  | $ | 7,737.3 |
|  | Year Ended September 30, 2020 |
|  | Access Equipment |  |  | Defense |  |  | Fire & Emergency |  |  | Commercial |  |  | Eliminations |  |  | Total |
Net sales: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
North America |  | $ | 1,881.6 |  |  | $ | 2,200.4 |  |  | $ | 1,029.3 |  |  | $ | 947.0 |  |  | $ | (34.6 | ) |  | $ | 6,023.7 |
Europe, Africa and Middle East |  |  | 275.3 |  |  |  | 107.0 |  |  |  | 29.8 |  |  |  | 1.6 |  |  |  | — |  |  |  | 413.7 |
Rest of the World |  |  | 358.2 |  |  |  | 4.1 |  |  |  | 47.9 |  |  |  | 9.2 |  |  |  | — |  |  |  | 419.4 |
Consolidated |  | $ | 2,515.1 |  |  | $ | 2,311.5 |  |  | $ | 1,107.0 |  |  | $ | 957.8 |  |  | $ | (34.6 | ) |  | $ | 6,856.8 |

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