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Pay vs Performance Disclosure
3 Months Ended 12 Months Ended
Dec. 31, 2021
USD ($)
$ / shares
Dec. 31, 2022
USD ($)
$ / shares
Dec. 31, 2021
USD ($)
Sep. 30, 2021
USD ($)
$ / shares
Sep. 30, 2020
USD ($)
$ / shares
Sep. 30, 2019
$ / shares
Pay vs Performance Disclosure [Table]            
Pay vs Performance [Table Text Block]  
Pay Versus Performance
As required by Item 402(v) of SEC Regulation S-K, we are providing the following information about the relationship between executive compensation actually paid and the financial performance of the company. The calculation of the executive compensation actually paid includes adjustments from the Summary Compensation Table amounts related to equity awards and pensions.
Value of Initial Fixed
$100 Investment
Based on:
Year
Summary
Compensation
Table Total for
Current PEO
($)
(1)
Compensation
Actually Paid to
Current PEO
($)
(1)(2)(3)
Summary
Compensation
Table Total for
Former PEO
($)
(1)
Compensation
Actually Paid to
Former PEO
($)
(1)(2)(3)
Average
Summary
Compensation
Table Total for
Non-PEO NEOs
($)
(1)(4)
Average
Compensation
Actually Paid to
Non-PEO NEOs
($)
(1)(2)(3)(4)
Total
Share-
holder
Return
S&P
Midcap
400 Index
Total
Share-
holder
Return
Net
Income
($ in Millions)
Adjusted
Operating
Income
($ in Millions)
(5)
2022 6,360,245 1,836,895 N/A N/A 2,858,588 1,523,391 122.0 132.0 173.9 326.3
Transition
Period
1,526,390 2,203,496 N/A N/A 575,679 746,484 153.5 151.8 24.2 18.0
2021 6,013,750 9,239,663 7,072,442 9,232,599 2,370,075 3,618,792 139.0 140.6 508.9 559.9
2020 N/A N/A 8,106,122 7,740,048 1,976,577 1,241,564 98.5 97.8 321.5 496.5
(1)
Mr. Pfeifer served in the role of Chief Operating Officer during fiscal 2020 and is included in average compensation for Non-Principal Executive Officer (PEO) NEOs for that year. Mr. Jones and Mr. Pfeifer each served as our CEO for a portion of fiscal 2021, and the table above reflects compensation for NEOs actually paid for the full fiscal year in which either served as CEO. Mr. Pfeifer is excluded from in average compensation for Non-PEO NEOs for fiscal 2021.
(2)
To calculate compensation actually paid from amounts in the Summary Compensation Table, we made the following adjustments.
Year
Executive
Deduct: Grant Date
Fair Value of
Equity Awards
($)
Deduct: Change in
Pension Value
($)
Add: Change in Fair
Value of Equity
Awards
($)
Net Change from
Summary
Compensation Table
to Compensation
Actually Paid
($)
2022 Current PEO (5,004,740) N/A 481,390 (4,523,350)
2022
Average Non-PEO NEO
(2,067,095) $0 731,898 (1,335,197)
Transition Period Current PEO (1,250,843) N/A 1,927,949 677,106
Transition Period
Average Non-PEO NEO
(334,517) (45,252) 550,574 170,805
2021 Current PEO (3,253,518) N/A 6,479,431 3,225,913
2021 Former PEO (6,104,945) 0 8,265,102 2,160,157
2021
Average Non-PEO NEO
(926,744) 0 2,175,461 1,248,717
2020 Former PEO (6,105,918) (128,677) 5,868,521 (366,074)
2020
Average Non-PEO NEO
(1,031,026) (87,932) 383,945 (735,013)
(3)
To determine the change in fair value of equity awards in compensation actually paid, we calculated the change in the fair value of each award type from the beginning of the fiscal year to the end of the fiscal year, or the vesting date if within the fiscal year. Awards granted during a given fiscal year are valued in the actual compensation paid at their fair value at the end of the fiscal year. Dividends paid/accrued are included in actual compensation paid if dividends are not reflected in the fair value of the awards. We computed fair value of these awards in accordance with FASB ASC Topic 718. We base the fair value of ROIC and ESG performance share awards on the target number of unvested units outstanding, the share price and the probable outcome of each performance condition which varies from 0 to 200%. We base the fair value of RSU awards on the number of unvested units outstanding at the share price. We base the fair value of TSR on the target number of unvested units outstanding and the valuation of each award based on a Monte Carlo simulation, using the following range of assumptions:
Valuation Date
09/30/19
09/30/20
09/30/21
12/31/21
12/31/22
Grant Date
11/20/17
11/19/18
11/19/18
11/18/19
11/18/19
11/16/20
11/18/19
11/16/20
11/16/20
02/21/22
Assumptions:
Expected volatility - Oshkosh
38.53% 33.10% 48.61% 43.88% 33.21% 41.60% 27.36% 36.74% 33.16% 31.68%
Expected volatility - Peer Group
30.44% 28.96% 58.19% 48.62% 34.38% 48.75% 29.06% 40.33% 37.56% 35.19%
Average correlation
0.5515 0.5151 0.7053 0.6826 0.5325 0.6733 0.5407 0.6084 0.6654 0.6066
Risk-free interest rate
1.74% 1.62% 0.12% 0.13% 0.09% 0.28% 0.29% 0.64% 4.69% 4.36%
(4)
The following NEOs were included in fiscal 2020: Mr. John Bryant, Mr. Nerenhausen, Mr. Pack, Mr. Pfeifer, Mr. David Sagehorn, and Mr. Robert Sims. The following NEOs were included in fiscal 2021: Mr. Cortina, Mr. Johnson, Mr. Nerenhausen, and Mr. Pack. The following NEOs were included in the Transition Period: Mr. Cortina, Mr. Nerenhausen and Mr. Pack. The following NEOs were included in fiscal 2022: Mr. Cortina, Ms. Iyengar, Mr. Nerenhausen, and Mr. Pack.
(5)
Adjusted Operating Income is the measure that has the largest impact on our annual cash incentive plan. Adjusted operating income for fiscal 2022 excludes losses on the liquidation of foreign entities ($4.6 million), impairment charges ($7.7 million), earnings of Maxi-Metal ($0.5 million) and adds back a charge to account for inventories on a Last-In, First-Out (LIFO) basis ($57.9 million). Adjusted operating income for the Transition Period adds back a charge to account for inventories on a LIFO basis ($23.6 million). Adjusted operating income for fiscal 2021 excludes restructuring-related charges ($11.3 million), losses associated with Pratt Miller ($3.9 million) and adds back a charge to account for inventories on a LIFO basis ($47.4 million). Adjusted operating income for fiscal 2020 excludes restructuring-related charges ($22.4 million), a gain on the sale of a business ($3.1 million), insurance proceeds ($12.3 million) and a benefit to account for inventories on a LIFO basis ($3.9 million).
       
Company Selected Measure Name   Adjusted Operating Income        
Named Executive Officers, Footnote [Text Block]  
(1)
Mr. Pfeifer served in the role of Chief Operating Officer during fiscal 2020 and is included in average compensation for Non-Principal Executive Officer (PEO) NEOs for that year. Mr. Jones and Mr. Pfeifer each served as our CEO for a portion of fiscal 2021, and the table above reflects compensation for NEOs actually paid for the full fiscal year in which either served as CEO. Mr. Pfeifer is excluded from in average compensation for Non-PEO NEOs for fiscal 2021.
(2)
To calculate compensation actually paid from amounts in the Summary Compensation Table, we made the following adjustments.
Year
Executive
Deduct: Grant Date
Fair Value of
Equity Awards
($)
Deduct: Change in
Pension Value
($)
Add: Change in Fair
Value of Equity
Awards
($)
Net Change from
Summary
Compensation Table
to Compensation
Actually Paid
($)
2022 Current PEO (5,004,740) N/A 481,390 (4,523,350)
2022
Average Non-PEO NEO
(2,067,095) $0 731,898 (1,335,197)
Transition Period Current PEO (1,250,843) N/A 1,927,949 677,106
Transition Period
Average Non-PEO NEO
(334,517) (45,252) 550,574 170,805
2021 Current PEO (3,253,518) N/A 6,479,431 3,225,913
2021 Former PEO (6,104,945) 0 8,265,102 2,160,157
2021
Average Non-PEO NEO
(926,744) 0 2,175,461 1,248,717
2020 Former PEO (6,105,918) (128,677) 5,868,521 (366,074)
2020
Average Non-PEO NEO
(1,031,026) (87,932) 383,945 (735,013)
(3)
To determine the change in fair value of equity awards in compensation actually paid, we calculated the change in the fair value of each award type from the beginning of the fiscal year to the end of the fiscal year, or the vesting date if within the fiscal year. Awards granted during a given fiscal year are valued in the actual compensation paid at their fair value at the end of the fiscal year. Dividends paid/accrued are included in actual compensation paid if dividends are not reflected in the fair value of the awards. We computed fair value of these awards in accordance with FASB ASC Topic 718. We base the fair value of ROIC and ESG performance share awards on the target number of unvested units outstanding, the share price and the probable outcome of each performance condition which varies from 0 to 200%. We base the fair value of RSU awards on the number of unvested units outstanding at the share price. We base the fair value of TSR on the target number of unvested units outstanding and the valuation of each award based on a Monte Carlo simulation, using the following range of assumptions:
Valuation Date
09/30/19
09/30/20
09/30/21
12/31/21
12/31/22
Grant Date
11/20/17
11/19/18
11/19/18
11/18/19
11/18/19
11/16/20
11/18/19
11/16/20
11/16/20
02/21/22
Assumptions:
Expected volatility - Oshkosh
38.53% 33.10% 48.61% 43.88% 33.21% 41.60% 27.36% 36.74% 33.16% 31.68%
Expected volatility - Peer Group
30.44% 28.96% 58.19% 48.62% 34.38% 48.75% 29.06% 40.33% 37.56% 35.19%
Average correlation
0.5515 0.5151 0.7053 0.6826 0.5325 0.6733 0.5407 0.6084 0.6654 0.6066
Risk-free interest rate
1.74% 1.62% 0.12% 0.13% 0.09% 0.28% 0.29% 0.64% 4.69% 4.36%
(4)
The following NEOs were included in fiscal 2020: Mr. John Bryant, Mr. Nerenhausen, Mr. Pack, Mr. Pfeifer, Mr. David Sagehorn, and Mr. Robert Sims. The following NEOs were included in fiscal 2021: Mr. Cortina, Mr. Johnson, Mr. Nerenhausen, and Mr. Pack. The following NEOs were included in the Transition Period: Mr. Cortina, Mr. Nerenhausen and Mr. Pack. The following NEOs were included in fiscal 2022: Mr. Cortina, Ms. Iyengar, Mr. Nerenhausen, and Mr. Pack.
       
Adjustment To PEO Compensation, Footnote [Text Block]  
(2)
To calculate compensation actually paid from amounts in the Summary Compensation Table, we made the following adjustments.
Year
Executive
Deduct: Grant Date
Fair Value of
Equity Awards
($)
Deduct: Change in
Pension Value
($)
Add: Change in Fair
Value of Equity
Awards
($)
Net Change from
Summary
Compensation Table
to Compensation
Actually Paid
($)
2022 Current PEO (5,004,740) N/A 481,390 (4,523,350)
2022
Average Non-PEO NEO
(2,067,095) $0 731,898 (1,335,197)
Transition Period Current PEO (1,250,843) N/A 1,927,949 677,106
Transition Period
Average Non-PEO NEO
(334,517) (45,252) 550,574 170,805
2021 Current PEO (3,253,518) N/A 6,479,431 3,225,913
2021 Former PEO (6,104,945) 0 8,265,102 2,160,157
2021
Average Non-PEO NEO
(926,744) 0 2,175,461 1,248,717
2020 Former PEO (6,105,918) (128,677) 5,868,521 (366,074)
2020
Average Non-PEO NEO
(1,031,026) (87,932) 383,945 (735,013)
       
Non-PEO NEO Average Total Compensation Amount $ 575,679 $ 2,858,588   $ 2,370,075 $ 1,976,577  
Non-PEO NEO Average Compensation Actually Paid Amount 746,484 $ 1,523,391   3,618,792 1,241,564  
Adjustment to Non-PEO NEO Compensation Footnote [Text Block]  
(2)
To calculate compensation actually paid from amounts in the Summary Compensation Table, we made the following adjustments.
Year
Executive
Deduct: Grant Date
Fair Value of
Equity Awards
($)
Deduct: Change in
Pension Value
($)
Add: Change in Fair
Value of Equity
Awards
($)
Net Change from
Summary
Compensation Table
to Compensation
Actually Paid
($)
2022 Current PEO (5,004,740) N/A 481,390 (4,523,350)
2022
Average Non-PEO NEO
(2,067,095) $0 731,898 (1,335,197)
Transition Period Current PEO (1,250,843) N/A 1,927,949 677,106
Transition Period
Average Non-PEO NEO
(334,517) (45,252) 550,574 170,805
2021 Current PEO (3,253,518) N/A 6,479,431 3,225,913
2021 Former PEO (6,104,945) 0 8,265,102 2,160,157
2021
Average Non-PEO NEO
(926,744) 0 2,175,461 1,248,717
2020 Former PEO (6,105,918) (128,677) 5,868,521 (366,074)
2020
Average Non-PEO NEO
(1,031,026) (87,932) 383,945 (735,013)
       
Compensation Actually Paid vs. Net Income [Text Block]  
[MISSING IMAGE: bc_payvernetincome-pn.jpg]
       
Total Shareholder Return Vs Peer Group [Text Block]  
[MISSING IMAGE: bc_payversus-pn.jpg]
       
Tabular List [Table Text Block]  
The following tables list the most important financial measures used by the company to link executive compensation actually paid to NEOs during fiscal 2022 fiscal. Company total shareholder return has significant influence on compensation actually paid, but it is not included in the list below because it is reflected in the table above.
Named Executive Officers
Most Important Financial Measure
Mr. Pfeifer, Mr. Pack, Ms. Iyengar and Mr. Cortina
Consolidated Operating Income
Consolidated Days Net Working Capital
Relative Total Shareholder Return
Relative Return on Invested Capital
Mr. Nerenhausen
Consolidated Operating Income
Access Equipment Segment Operating Income
Access Equipment Segment Days Net Working Capital
Relative Total Shareholder Return
Relative Return on Invested Capital
       
Total Shareholder Return Amount 153,500,000 $ 122,000,000   139,000,000 98,500,000  
Peer Group Total Shareholder Return Amount 151,800,000 132,000,000   140,600,000 97,800,000  
Net Income (Loss) $ 24,200,000 $ 173,900,000   $ 508,900,000 $ 321,500,000  
Company Selected Measure Amount 18,000,000 326,300,000   559,900,000 496,500,000  
PEO Name   Mr. Pfeifer        
Percentage Of Fair Value Of Share Based Compensation Award Performance Condition Minimum   0.00%        
Percentage Of Fair Value Of Share Based Compensation Award Performance Condition Maximum   200.00%        
Losses on Liquidation of Foreign Entities   $ (4,600,000)        
Asset Impairment Charges   7,700,000        
Income (Loss) from Subsidiaries, Net of Tax   500,000   $ (3,900,000)    
Increase (Decrease) in Inventories $ 23,600,000 $ (57,900,000)   (47,400,000) $ 3,900,000  
Restructuring Charges       $ 11,300,000 22,400,000  
Gain (Loss) on Disposition of Business         3,100,000  
Proceeds from Life Insurance Policy         $ 12,300,000  
Grant Date 11/20/17 [Member]            
Pay vs Performance Disclosure [Table]            
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Rate           38.53%
Peer Group Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Rate           30.44%
Average Correlation per Share | $ / shares           $ 0.5515
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Risk Free Interest Rate           1.74%
Grand Date 11/19/18 [Member]            
Pay vs Performance Disclosure [Table]            
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Rate         48.61% 33.10%
Peer Group Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Rate         58.19% 28.96%
Average Correlation per Share | $ / shares         $ 0.7053 $ 0.5151
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Risk Free Interest Rate         0.12% 1.62%
Grand Date 11/18/19 [Member]            
Pay vs Performance Disclosure [Table]            
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Rate 27.36%     33.21% 43.88%  
Peer Group Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Rate 29.06%     34.38% 48.62%  
Average Correlation per Share | $ / shares $ 0.5407     $ 0.5325 $ 0.6826  
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Risk Free Interest Rate 0.29%     0.09% 0.13%  
Grand Date 11/16/20 [Member]            
Pay vs Performance Disclosure [Table]            
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Rate 36.74% 33.16%   41.60%    
Peer Group Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Rate 40.33% 37.56%   48.75%    
Average Correlation per Share | $ / shares $ 0.6084 $ 0.6654   $ 0.6733    
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Risk Free Interest Rate 0.64% 4.69%   0.28%    
Grand Date 02/21/22 [Member]            
Pay vs Performance Disclosure [Table]            
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Rate   31.68%        
Peer Group Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Rate   35.19%        
Average Correlation per Share | $ / shares   $ 0.6066        
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Risk Free Interest Rate   4.36%        
Measure [Axis]: 1            
Pay vs Performance Disclosure [Table]            
Non-GAAP Measure Description [Text Block]  
(5)
Adjusted Operating Income is the measure that has the largest impact on our annual cash incentive plan. Adjusted operating income for fiscal 2022 excludes losses on the liquidation of foreign entities ($4.6 million), impairment charges ($7.7 million), earnings of Maxi-Metal ($0.5 million) and adds back a charge to account for inventories on a Last-In, First-Out (LIFO) basis ($57.9 million). Adjusted operating income for the Transition Period adds back a charge to account for inventories on a LIFO basis ($23.6 million). Adjusted operating income for fiscal 2021 excludes restructuring-related charges ($11.3 million), losses associated with Pratt Miller ($3.9 million) and adds back a charge to account for inventories on a LIFO basis ($47.4 million). Adjusted operating income for fiscal 2020 excludes restructuring-related charges ($22.4 million), a gain on the sale of a business ($3.1 million), insurance proceeds ($12.3 million) and a benefit to account for inventories on a LIFO basis ($3.9 million).
       
Mr. Pfeifer [Member]            
Pay vs Performance Disclosure [Table]            
PEO Total Compensation Amount $ 1,526,390 $ 6,360,245   $ 6,013,750    
PEO Actually Paid Compensation Amount 2,203,496 1,836,895   9,239,663    
Net Change to Actually Paid Compensation 677,106 (4,523,350) $ 3,225,913      
Mr. Pfeifer [Member] | Equity Awards Value In Compensation Table For The Applicable Year [Member]            
Pay vs Performance Disclosure [Table]            
Adjustment to Compensation Amount (1,250,843) (5,004,740) (3,253,518)      
Mr. Pfeifer [Member] | Equity Awards Adjustments [Member]            
Pay vs Performance Disclosure [Table]            
Adjustment to Compensation Amount 1,927,949 $ 481,390 6,479,431      
Mr. Jones [Member]            
Pay vs Performance Disclosure [Table]            
PEO Total Compensation Amount       7,072,442 $ 8,106,122  
PEO Actually Paid Compensation Amount       $ 9,232,599 7,740,048  
Net Change to Actually Paid Compensation     2,160,157   (366,074)  
Mr. Jones [Member] | Equity Awards Value In Compensation Table For The Applicable Year [Member]            
Pay vs Performance Disclosure [Table]            
Adjustment to Compensation Amount     (6,104,945)   (6,105,918)  
Mr. Jones [Member] | Equity Awards Adjustments [Member]            
Pay vs Performance Disclosure [Table]            
Adjustment to Compensation Amount     8,265,102   5,868,521  
Mr. Jones [Member] | Pension Adjustments Pension Value In Summary Compensation Table [Member]            
Pay vs Performance Disclosure [Table]            
Adjustment to Compensation Amount     0   (128,677)  
Mr. Pfeifer, Mr. Pack, Ms. Iyengar and Mr. Cortina [Member] | Measure [Axis]: 1            
Pay vs Performance Disclosure [Table]            
Measure Name   Consolidated Operating Income        
Mr. Pfeifer, Mr. Pack, Ms. Iyengar and Mr. Cortina [Member] | Measure [Axis]: 2            
Pay vs Performance Disclosure [Table]            
Measure Name   Consolidated Days Net Working Capital        
Mr. Pfeifer, Mr. Pack, Ms. Iyengar and Mr. Cortina [Member] | Measure [Axis]: 3            
Pay vs Performance Disclosure [Table]            
Measure Name   Relative Total Shareholder Return        
Mr. Pfeifer, Mr. Pack, Ms. Iyengar and Mr. Cortina [Member] | Measure [Axis]: 4            
Pay vs Performance Disclosure [Table]            
Measure Name   Relative Return on Invested Capital        
Mr. Nerenhausen [Member] | Measure [Axis]: 5            
Pay vs Performance Disclosure [Table]            
Measure Name   Consolidated Operating Income        
Mr. Nerenhausen [Member] | Measure [Axis]: 6            
Pay vs Performance Disclosure [Table]            
Measure Name   Access Equipment Segment Operating Income        
Mr. Nerenhausen [Member] | Measure [Axis]: 7            
Pay vs Performance Disclosure [Table]            
Measure Name   Access Equipment Segment Days Net Working Capital        
Mr. Nerenhausen [Member] | Measure [Axis]: 8            
Pay vs Performance Disclosure [Table]            
Measure Name   Relative Total Shareholder Return        
Mr. Nerenhausen [Member] | Measure [Axis]: 9            
Pay vs Performance Disclosure [Table]            
Measure Name   Relative Return on Invested Capital        
Non-PEO NEO [Member]            
Pay vs Performance Disclosure [Table]            
Net Change to Actually Paid Compensation 170,805 $ (1,335,197) 1,248,717   (735,013)  
Non-PEO NEO [Member] | Equity Awards Value In Compensation Table For The Applicable Year [Member]            
Pay vs Performance Disclosure [Table]            
Adjustment to Compensation Amount (334,517) 2,067,095 (926,744)   (1,031,026)  
Non-PEO NEO [Member] | Equity Awards Adjustments [Member]            
Pay vs Performance Disclosure [Table]            
Adjustment to Compensation Amount 550,574 731,898 2,175,461   383,945  
Non-PEO NEO [Member] | Pension Adjustments Pension Value In Summary Compensation Table [Member]            
Pay vs Performance Disclosure [Table]            
Adjustment to Compensation Amount $ (45,252) $ 0 $ 0   $ (87,932)