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Business Segment Information | 3 Months Ended
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Mar. 31, 2023
Segment Reporting [Abstract] |
Business Segment Information | 18. Business Segment Information Effective January 31, 2023, the Company formed the Vocational segment by combining the historical Fire & Emergency and Commercial segment businesses. All information has been restated to conform to the new reporting segments. As a result, the Company is organized into three reportable segments based on the internal organization used by the Chief Executive Officer for making operating decisions and measuring performance and based on the similarity of customers served, common management, common use of facilities and economic results attained. The Company’s reportable segments are as follows: Access: This segment consists of JLG, JerrDan and Hinowa. JLG designs and manufactures aerial work platforms and telehandlers that are sold worldwide for use in a wide variety of construction, industrial, institutional and general maintenance applications to position workers and materials at elevated heights. JerrDan designs, manufactures and markets towing and recovery equipment in the U.S. and abroad. Hinowa specializes in manufacturing equipment for working at heights and moving earth, such as aerial platforms, mini dumpers and tracked lift trucks, as well as undercarriages. Access customers include equipment rental companies, construction contractors, manufacturing companies and home improvement centers. Defense: This segment consists of Oshkosh Defense, Pratt Miller and snow removal vehicles for military and civilian airports. These business units design and manufacture tactical wheeled vehicles and supply parts and services for the U.S. military and for other militaries around the world, delivery vehicles for the USPS, as well as offer engineering and product development services primarily to customers in the motorsports and multiple ground vehicle markets. Vocational: This segment includes Pierce, Airport Products, Maxi-Metal, Kewaunee, McNeilus, IMT and Oshkosh Commercial. The Pierce, Airport Products, Maxi-Metal, and Kewaunee business units design, manufacture and market commercial and custom fire apparatus, simulators and emergency vehicles primarily for fire departments, airports and other governmental units, and broadcast vehicles for broadcasters and TV stations in the U.S. and abroad. McNeilus designs, manufactures, markets and distributes refuse collection vehicles and components. IMT is a designer and manufacturer of field service vehicles and truck-mounted cranes for niche markets. Oshkosh Commercial designs, manufactures, markets and distributes front discharge concrete mixer vehicles and components. Sales are made primarily to commercial and municipal customers in the Americas. In accordance with FASB ASC Topic 280, Segment Reporting, for purposes of business segment performance measurement, the Company does not allocate to individual business segments costs or items that are of a non-operating nature or organizational or functional expenses of a corporate nature. The caption “Corporate” includes corporate office expenses, new product development costs, stock-based compensation, costs of certain business initiatives and shared services or operations benefiting multiple segments, and results of insignificant operations. Identifiable assets of the business segments exclude general corporate assets, which principally consist of cash and cash equivalents, certain property, plant and equipment, and certain other assets pertaining to corporate activities. Intersegment sales generally include amounts invoiced by a segment for work performed for another segment. Amounts are based on actual work performed and agreed-upon pricing, which is intended to be reflective of the contribution made by the supplying business segment. Selected financial information concerning the Company’s reportable segments and product lines is as follows (in millions):
|  | Three Months Ended March 31, |
|  | 2023 |  |  | 2022 |
|  | External Customers |  |  | Inter- segment |  |  | Net Sales |  |  | External Customers |  |  | Inter- segment |  |  | Net Sales |
Net sales: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Access |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Aerial work platforms |  | $ | 602.0 |  |  | $ | — |  |  | $ | 602.0 |  |  | $ | 439.7 |  |  | $ | — |  |  | $ | 439.7 |
Telehandlers |  |  | 341.4 |  |  |  | — |  |  |  | 341.4 |  |  |  | 229.7 |  |  |  | — |  |  |  | 229.7 |
Other |  |  | 249.8 |  |  |  | — |  |  |  | 249.8 |  |  |  | 213.6 |  |  |  | 0.1 |  |  |  | 213.7 |
Total Access |  |  | 1,193.2 |  |  |  | — |  |  |  | 1,193.2 |  |  |  | 883.0 |  |  |  | 0.1 |  |  |  | 883.1 |
Defense |  |  | 512.8 |  |  |  | 0.3 |  |  |  | 513.1 |  |  |  | 535.2 |  |  |  | 0.4 |  |  |  | 535.6 |
Vocational |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fire apparatus |  |  | 288.4 |  |  |  | — |  |  |  | 288.4 |  |  |  | 279.9 |  |  |  | — |  |  |  | 279.9 |
Refuse collection |  |  | 141.9 |  |  |  | — |  |  |  | 141.9 |  |  |  | 129.3 |  |  |  | — |  |  |  | 129.3 |
Other |  |  | 131.7 |  |  |  | 0.7 |  |  |  | 132.4 |  |  |  | 118.3 |  |  |  | 1.8 |  |  |  | 120.1 |
Total Vocational |  |  | 562.0 |  |  |  | 0.7 |  |  |  | 562.7 |  |  |  | 527.5 |  |  |  | 1.8 |  |  |  | 529.3 |
Corporate and intersegment eliminations |  |  | 0.1 |  |  |  | (1.0 | ) |  |  | (0.9 | ) |  |  | — |  |  |  | (2.3 | ) |  |  | (2.3 | )
Consolidated |  | $ | 2,268.1 |  |  | $ | — |  |  | $ | 2,268.1 |  |  | $ | 1,945.7 |  |  | $ | — |  |  | $ | 1,945.7 |
|  | Three Months Ended March 31, |
|  | 2023 |  |  | 2022 |
Operating income (loss): |  |  |  |  |  |
Access |  | $ | 135.0 |  |  | $ | 5.7 |
Defense |  |  | 1.7 |  |  |  | 19.4 |
Vocational |  |  | 28.1 |  |  |  | 41.0 |
Corporate |  |  | (34.0 | ) |  |  | (34.3 | )
Consolidated |  |  | 130.8 |  |  |  | 31.8 |
Interest expense, net of interest income |  |  | (7.2 | ) |  |  | (11.6 | )
Miscellaneous other income |  |  | 5.8 |  |  |  | 1.1 |
Income before income taxes and losses of unconsolidated affiliates |  | $ | 129.4 |  |  | $ | 21.3 |
|  | March 31, 2023 |  |  | December 31, 2022 |
Identifiable assets: |  |  |  |  |  |
Access: |  |  |  |  |  |
U.S. |  | $ | 2,712.8 |  |  | $ | 2,493.0 |
Europe, Africa and Middle East |  |  | 691.6 |  |  |  | 562.2 |
Rest of the World |  |  | 430.8 |  |  |  | 428.4 |
Total Access |  |  | 3,835.2 |  |  |  | 3,483.6 |
Defense: |  |  |  |  |  |
U.S. |  |  | 2,077.0 |  |  |  | 2,060.0 |
Rest of the World |  |  | 6.8 |  |  |  | 6.9 |
Total Defense |  |  | 2,083.8 |  |  |  | 2,066.9 |
Vocational: |  |  |  |  |  |
U.S. |  |  | 1,102.0 |  |  |  | 1,063.4 |
Rest of the World |  |  | 36.5 |  |  |  | 64.6 |
Total Vocational |  |  | 1,138.5 |  |  |  | 1,128.0 |
Corporate - U.S. (a) |  |  | 858.9 |  |  |  | 1,050.5 |
Consolidated |  | $ | 7,916.4 |  |  | $ | 7,729.0 |
(a) Primarily includes cash and short-term investments and the Company’s global headquarters. The following table presents net sales by geographic region based on product shipment destination (in millions):
|  | Three Months Ended March 31, 2023 |
|  | Access |  |  | Defense |  |  | Vocational |  |  | Eliminations |  |  | Total |
Net sales: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
North America |  | $ | 948.6 |  |  | $ | 427.6 |  |  | $ | 553.4 |  |  | $ | (0.9 | ) |  | $ | 1,928.7 |
Europe, Africa and Middle East |  |  | 136.7 |  |  |  | 85.3 |  |  |  | 1.7 |  |  |  | — |  |  |  | 223.7 |
Rest of the World |  |  | 107.9 |  |  |  | 0.2 |  |  |  | 7.6 |  |  |  | — |  |  |  | 115.7 |
Consolidated |  | $ | 1,193.2 |  |  | $ | 513.1 |  |  | $ | 562.7 |  |  | $ | (0.9 | ) |  | $ | 2,268.1 |
|  | Three Months Ended March 31, 2022 |
|  | Access |  |  | Defense |  |  | Vocational |  |  | Eliminations |  |  | Total |
Net sales: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
North America |  | $ | 732.9 |  |  | $ | 524.3 |  |  | $ | 514.7 |  |  | $ | (2.3 | ) |  | $ | 1,769.6 |
Europe, Africa and Middle East |  |  | 81.0 |  |  |  | 11.0 |  |  |  | 0.9 |  |  |  | — |  |  |  | 92.9 |
Rest of the World |  |  | 69.2 |  |  |  | 0.3 |  |  |  | 13.7 |  |  |  | — |  |  |  | 83.2 |
Consolidated |  | $ | 883.1 |  |  | $ | 535.6 |  |  | $ | 529.3 |  |  | $ | (2.3 | ) |  | $ | 1,945.7 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI https://asc.fasb.org/topic&trid=2134510 + Details
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