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v3.23.3

Business Segment Information (Tables) | 9 Months Ended
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Sep. 30, 2023
Segment Reporting [Abstract] |
Schedule of Net Sales by Product Lines and Reportable Segments | Selected financial information relating to the Company’s reportable segments and product lines is as follows (in millions):
|  | Three Months Ended September 30, |
|  | 2023 |  |  | 2022 |
|  | External Customers |  |  | Inter- segment |  |  | Net Sales |  |  | External Customers |  |  | Inter- segment |  |  | Net Sales |
Net sales: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Access |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Aerial work platforms |  | $ | 654.3 |  |  | $ | — |  |  | $ | 654.3 |  |  | $ | 517.1 |  |  | $ | — |  |  | $ | 517.1 |
Telehandlers |  |  | 393.8 |  |  |  | — |  |  |  | 393.8 |  |  |  | 316.0 |  |  |  | — |  |  |  | 316.0 |
Other |  |  | 270.1 |  |  |  | — |  |  |  | 270.1 |  |  |  | 204.8 |  |  |  | — |  |  |  | 204.8 |
Total Access |  |  | 1,318.2 |  |  |  | — |  |  |  | 1,318.2 |  |  |  | 1,037.9 |  |  |  | — |  |  |  | 1,037.9 |
Defense |  |  | 499.5 |  |  |  | 0.6 |  |  |  | 500.1 |  |  |  | 518.5 |  |  |  | 0.2 |  |  |  | 518.7 |
Vocational |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fire apparatus |  |  | 299.5 |  |  |  | — |  |  |  | 299.5 |  |  |  | 243.2 |  |  |  | — |  |  |  | 243.2 |
Refuse collection |  |  | 149.2 |  |  |  | — |  |  |  | 149.2 |  |  |  | 122.7 |  |  |  | — |  |  |  | 122.7 |
Other |  |  | 243.5 |  |  |  | 0.4 |  |  |  | 243.9 |  |  |  | 144.4 |  |  |  | 1.4 |  |  |  | 145.8 |
Total Vocational |  |  | 692.2 |  |  |  | 0.4 |  |  |  | 692.6 |  |  |  | 510.3 |  |  |  | 1.4 |  |  |  | 511.7 |
Corporate and intersegment eliminations |  |  | — |  |  |  | (1.0 | ) |  |  | (1.0 | ) |  |  | — |  |  |  | (1.6 | ) |  |  | (1.6 | )
Consolidated |  | $ | 2,509.9 |  |  | $ | — |  |  | $ | 2,509.9 |  |  | $ | 2,066.7 |  |  | $ | — |  |  | $ | 2,066.7 |
|  | Nine Months Ended September 30, |
|  | 2023 |  |  | 2022 |
|  | External Customers |  |  | Inter- segment |  |  | Net Sales |  |  | External Customers |  |  | Inter- segment |  |  | Net Sales |
Net sales: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Access |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Aerial work platforms |  | $ | 1,921.2 |  |  | $ | — |  |  | $ | 1,921.2 |  |  | $ | 1,408.3 |  |  | $ | — |  |  | $ | 1,408.3 |
Telehandlers |  |  | 1,126.0 |  |  |  | — |  |  |  | 1,126.0 |  |  |  | 855.5 |  |  |  | — |  |  |  | 855.5 |
Other |  |  | 792.5 |  |  |  | — |  |  |  | 792.5 |  |  |  | 634.1 |  |  |  | 0.2 |  |  |  | 634.3 |
Total Access |  |  | 3,839.7 |  |  |  | — |  |  |  | 3,839.7 |  |  |  | 2,897.9 |  |  |  | 0.2 |  |  |  | 2,898.1 |
Defense |  |  | 1,510.1 |  |  |  | 1.2 |  |  |  | 1,511.3 |  |  |  | 1,592.6 |  |  |  | 1.0 |  |  |  | 1,593.6 |
Vocational |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fire apparatus |  |  | 884.4 |  |  |  | — |  |  |  | 884.4 |  |  |  | 791.4 |  |  |  | — |  |  |  | 791.4 |
Refuse collection |  |  | 449.0 |  |  |  | — |  |  |  | 449.0 |  |  |  | 395.4 |  |  |  | — |  |  |  | 395.4 |
Other |  |  | 507.9 |  |  |  | 1.5 |  |  |  | 509.4 |  |  |  | 401.1 |  |  |  | 4.9 |  |  |  | 406.0 |
Total Vocational |  |  | 1,841.3 |  |  |  | 1.5 |  |  |  | 1,842.8 |  |  |  | 1,587.9 |  |  |  | 4.9 |  |  |  | 1,592.8 |
Corporate and intersegment eliminations |  |  | — |  |  |  | (2.7 | ) |  |  | (2.7 | ) |  |  | — |  |  |  | (6.1 | ) |  |  | (6.1 | )
Consolidated |  | $ | 7,191.1 |  |  | $ | — |  |  | $ | 7,191.1 |  |  | $ | 6,078.4 |  |  | $ | — |  |  | $ | 6,078.4 |
Schedule of Income (Loss) from Continuing Operations by Product Lines and Reportable Segments |
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Operating income (loss): |  |  |  |  |  |  |  |  |  |  |  |
Access |  | $ | 229.9 |  |  | $ | 118.8 |  |  | $ | 576.6 |  |  | $ | 197.2 |
Defense (a) |  |  | 22.8 |  |  |  | 3.1 |  |  |  | 30.8 |  |  |  | 26.3 |
Vocational (b) |  |  | 52.5 |  |  |  | 32.1 |  |  |  | 141.1 |  |  |  | 112.9 |
Corporate |  |  | (48.7 | ) |  |  | (36.8 | ) |  |  | (126.3 | ) |  |  | (111.1 | )
Consolidated |  |  | 256.5 |  |  |  | 117.2 |  |  |  | 622.2 |  |  |  | 225.3 |
Interest expense, net of interest income |  |  | (17.7 | ) |  |  | (10.9 | ) |  |  | (33.0 | ) |  |  | (34.4 | )
Miscellaneous other income |  |  | 2.6 |  |  |  | (6.8 | ) |  |  | 13.2 |  |  |  | (20.8 | )
Income before income taxes and losses of unconsolidated affiliates |  | $ | 241.4 |  |  | $ | 99.5 |  |  | $ | 602.4 |  |  | $ | 170.1 |
(a) Results for the three and nine months ended September 30, 2023 include a gain of $8.0 million on the sale of the snow removal apparatus business. (b) Results for the nine months ended September 30, 2023 include a charge of $13.3 million on the sale of the rear discharge mixer business.
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 September 30, 2023 |
|  | Access |  |  | Defense |  |  | Vocational |  |  | Eliminations |  |  | Total |
Net sales: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
North America |  | $ | 1,048.4 |  |  | $ | 426.6 |  |  | $ | 663.5 |  |  | $ | (1.0 | ) |  | $ | 2,137.5 |
Europe, Africa and Middle East |  |  | 160.0 |  |  |  | 73.3 |  |  |  | 16.3 |  |  |  | — |  |  |  | 249.6 |
Rest of the World |  |  | 109.8 |  |  |  | 0.2 |  |  |  | 12.8 |  |  |  | — |  |  |  | 122.8 |
Consolidated |  | $ | 1,318.2 |  |  | $ | 500.1 |  |  | $ | 692.6 |  |  | $ | (1.0 | ) |  | $ | 2,509.9 |
|  | Three Months Ended September 30, 2022 |
|  | Access |  |  | Defense |  |  | Vocational |  |  | Eliminations |  |  | Total |
Net sales: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
North America |  | $ | 866.6 |  |  | $ | 499.7 |  |  | $ | 504.9 |  |  | $ | (1.6 | ) |  | $ | 1,869.6 |
Europe, Africa and Middle East |  |  | 85.4 |  |  |  | 18.8 |  |  |  | 0.4 |  |  |  | — |  |  |  | 104.6 |
Rest of the World |  |  | 85.9 |  |  |  | 0.2 |  |  |  | 6.4 |  |  |  | — |  |  |  | 92.5 |
Consolidated |  | $ | 1,037.9 |  |  | $ | 518.7 |  |  | $ | 511.7 |  |  | $ | (1.6 | ) |  | $ | 2,066.7 |
|  | Nine Months Ended September 30, 2023 |
|  | Access |  |  | Defense |  |  | Vocational |  |  | Eliminations |  |  | Total |
Net sales: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
North America |  | $ | 3,048.9 |  |  | $ | 1,279.9 |  |  | $ | 1,795.9 |  |  | $ | (2.7 | ) |  | $ | 6,122.0 |
Europe, Africa and Middle East |  |  | 450.9 |  |  |  | 230.7 |  |  |  | 23.0 |  |  |  | — |  |  |  | 704.6 |
Rest of the World |  |  | 339.9 |  |  |  | 0.7 |  |  |  | 23.9 |  |  |  | — |  |  |  | 364.5 |
Consolidated |  | $ | 3,839.7 |  |  | $ | 1,511.3 |  |  | $ | 1,842.8 |  |  | $ | (2.7 | ) |  | $ | 7,191.1 |
|  | Nine Months Ended September 30, 2022 |
|  | Access |  |  | Defense |  |  | Vocational |  |  | Eliminations |  |  | Total |
Net sales: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
North America |  | $ | 2,441.3 |  |  | $ | 1,545.5 |  |  | $ | 1,554.5 |  |  | $ | (6.1 | ) |  | $ | 5,535.2 |
Europe, Africa and Middle East |  |  | 233.5 |  |  |  | 47.2 |  |  |  | 7.9 |  |  |  | — |  |  |  | 288.6 |
Rest of the World |  |  | 223.3 |  |  |  | 0.9 |  |  |  | 30.4 |  |  |  | — |  |  |  | 254.6 |
Consolidated |  | $ | 2,898.1 |  |  | $ | 1,593.6 |  |  | $ | 1,592.8 |  |  | $ | (6.1 | ) |  | $ | 6,078.4 |

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