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Business Segment Information | 12 Months Ended
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Dec. 31, 2023
Segment Reporting [Abstract] |
Business Segment Information | 24. Business Segment Information Effective January 31, 2023, the Company formed the Vocational segment by combining the historical Fire & Emergency segment and Commercial segment businesses. 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 and JerrDan. 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. Access customers include equipment rental companies, construction contractors, manufacturing companies and home improvement centers. Defense: This segment consists of Oshkosh Defense and Pratt Miller. 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. Sales to the DoD accounted for 84% of the segment's sales in 2023, 95% of the segment's sales in 2022, 93% of the segment's sales for the three months ended December 31, 2021 and 95% of the segment’s sales in fiscal 2021. Vocational: This segment includes Pierce, Airport Products, Maxi-Metal, McNeilus, AeroTech, IMT and Oshkosh Commercial. The Pierce, Airport Products and Maxi-Metal business units design, manufacture and market commercial and custom fire apparatus and emergency vehicles primarily for fire departments, airports and other governmental units. McNeilus designs, manufactures, markets and distributes refuse collection vehicles and components. The AeroTech business unit designs, manufactures, markets and distributes aviation ground support products and gate equipment and provides airport services to commercial airlines, airports, air-freight carriers, ground handling customers and the military. 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. 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, certain 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. 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. The accounting policies of the reportable segments are the same as those described in Note 2. Selected financial information relating to the Company’s reportable segments and product lines is as follows (in millions):
|  | Year Ended December 31, 2023 |  |  | Year Ended December 31, 2022 |
|  | External Customers |  |  | Inter- segment |  |  | Net Sales |  |  | External Customers |  |  | Inter- segment |  |  | Net Sales |
Net sales: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Access |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Aerial work platforms |  | $ | 2,461.6 |  |  | $ | — |  |  | $ | 2,461.6 |  |  | $ | 1,949.0 |  |  | $ | — |  |  | $ | 1,949.0 |
Telehandlers |  |  | 1,480.2 |  |  |  | — |  |  |  | 1,480.2 |  |  |  | 1,174.8 |  |  |  | — |  |  |  | 1,174.8 |
Other |  |  | 1,048.2 |  |  |  | — |  |  |  | 1,048.2 |  |  |  | 848.1 |  |  |  | 0.2 |  |  |  | 848.3 |
Total Access |  |  | 4,990.0 |  |  |  | — |  |  |  | 4,990.0 |  |  |  | 3,971.9 |  |  |  | 0.2 |  |  |  | 3,972.1 |
Defense |  |  | 2,092.0 |  |  |  | 6.2 |  |  |  | 2,098.2 |  |  |  | 2,139.9 |  |  |  | 1.4 |  |  |  | 2,141.3 |
Vocational |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fire apparatus |  |  | 1,186.6 |  |  |  | — |  |  |  | 1,186.6 |  |  |  | 1,086.0 |  |  |  | — |  |  |  | 1,086.0 |
Refuse collection |  |  | 590.7 |  |  |  | — |  |  |  | 590.7 |  |  |  | 536.4 |  |  |  | — |  |  |  | 536.4 |
Other |  |  | 798.6 |  |  |  | 2.2 |  |  |  | 800.8 |  |  |  | 547.6 |  |  |  | 5.7 |  |  |  | 553.3 |
Total Vocational |  |  | 2,575.9 |  |  |  | 2.2 |  |  |  | 2,578.1 |  |  |  | 2,170.0 |  |  |  | 5.7 |  |  |  | 2,175.7 |
Corporate and intersegment eliminations |  |  | — |  |  |  | (8.4 | ) |  |  | (8.4 | ) |  |  | 0.2 |  |  |  | (7.3 | ) |  |  | (7.1 | )
Consolidated |  | $ | 9,657.9 |  |  | $ | — |  |  | $ | 9,657.9 |  |  | $ | 8,282.0 |  |  | $ | — |  |  | $ | 8,282.0 |
|  | Three Months Ended December 31, 2021 (transition period) |  |  | Year Ended September 30, 2021 |
|  | External Customers |  |  | Inter- segment |  |  | Net Sales |  |  | External Customers |  |  | Inter- segment |  |  | Net Sales |
Net sales: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Access |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Aerial work platforms |  | $ | 415.3 |  |  | $ | — |  |  | $ | 415.3 |  |  | $ | 1,471.4 |  |  | $ | — |  |  | $ | 1,471.4 |
Telehandlers |  |  | 210.6 |  |  |  | — |  |  |  | 210.6 |  |  |  | 769.4 |  |  |  | — |  |  |  | 769.4 |
Other |  |  | 207.4 |  |  |  | 0.2 |  |  |  | 207.6 |  |  |  | 826.5 |  |  |  | 4.8 |  |  |  | 831.3 |
Total Access |  |  | 833.3 |  |  |  | 0.2 |  |  |  | 833.5 |  |  |  | 3,067.3 |  |  |  | 4.8 |  |  |  | 3,072.1 |
Defense |  |  | 531.1 |  |  |  | 0.4 |  |  |  | 531.5 |  |  |  | 2,524.1 |  |  |  | 1.5 |  |  |  | 2,525.6 |
Vocational |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fire apparatus |  |  | 215.1 |  |  |  | — |  |  |  | 215.1 |  |  |  | 1,199.2 |  |  |  | — |  |  |  | 1,199.2 |
Refuse collection |  |  | 98.2 |  |  |  | — |  |  |  | 98.2 |  |  |  | 465.9 |  |  |  | — |  |  |  | 465.9 |
Other |  |  | 113.9 |  |  |  | 2.0 |  |  |  | 115.9 |  |  |  | 480.1 |  |  |  | 19.0 |  |  |  | 499.1 |
Total Vocational |  |  | 427.2 |  |  |  | 2.0 |  |  |  | 429.2 |  |  |  | 2,145.2 |  |  |  | 19.0 |  |  |  | 2,164.2 |
Corporate and intersegment eliminations |  |  | 0.1 |  |  |  | (2.6 | ) |  |  | (2.5 | ) |  |  | 0.7 |  |  |  | (25.3 | ) |  |  | (24.6 | )
Consolidated |  | $ | 1,791.7 |  |  | $ | — |  |  | $ | 1,791.7 |  |  | $ | 7,737.3 |  |  | $ | — |  |  | $ | 7,737.3 |
|  | Year Ended December 31, |  |  | (transition period) Three Months Ended December 31, |  |  | Year Ended September 30, |
|  | 2023 |  |  | 2022 |  |  | 2021 |  |  | 2021 |
Operating income (loss): |  |  |  |  |  |  |  |  |  |  |  |
Access (a) |  | $ | 738.8 |  |  | $ | 313.2 |  |  | $ | 38.2 |  |  | $ | 278.2 |
Defense (b) |  |  | 91.6 |  |  |  | 46.2 |  |  |  | 16.0 |  |  |  | 200.7 |
Vocational (c) |  |  | 185.5 |  |  |  | 154.4 |  |  |  | 18.3 |  |  |  | 260.6 |
Corporate |  |  | (178.3 | ) |  |  | (141.5 | ) |  |  | (30.9 | ) |  |  | (147.4 | )
Consolidated |  |  | 837.6 |  |  |  | 372.3 |  |  |  | 41.6 |  |  |  | 592.1 |
Interest expense, net of interest income |  |  | (53.8 | ) |  |  | (43.9 | ) |  |  | (11.8 | ) |  |  | (44.7 | )
Miscellaneous, net (d) |  |  | 13.8 |  |  |  | (52.8 | ) |  |  | (5.6 | ) |  |  | (2.1 | )
Income before income taxes and losses of unconsolidated affiliates |  | $ | 797.6 |  |  | $ | 275.6 |  |  | $ | 24.2 |  |  | $ | 545.3 |
(a) Results for 2022 include expense of $4.6 million to eliminate cumulative translation adjustments upon liquidation of foreign entities. Results for fiscal 2021 include $3.1 million of restructuring costs and $7.4 million operating expenses related to restructuring plans. (b) Results for 2023 include a gain of $8.0 million on the sale of the snow removal apparatus business. Results for 2022 include a $5.6 million intangible asset impairment charge. (c) Results for 2023 include a loss of $13.3 million on the sale of the rear discharge mixer business, acquisition costs of $12.9 million related to the acquisition of AeroTech, $7.1 million of amortization of inventory fair value step-up and restructuring costs of $3.0 million. Results for 2022 include a $2.1 million intangible asset impairment charge. (d) Results for 2023 include a gain of $4.7 million on the settlement of a claim with the Company's pension advisor. Results for 2022 include a $33.6 million charge from the settlement of a frozen pension plan.
|  | Year Ended December 31, |  |  | (transition period) Three Months Ended December 31, |  |  | Year Ended September 30, |
|  | 2023 |  |  | 2022 |  |  | 2021 |  |  | 2021 |
Depreciation and amortization: |  |  |  |  |  |  |  |  |  |  |  |
Access (a) |  | $ | 55.1 |  |  | $ | 37.4 |  |  | $ | 9.1 |  |  | $ | 37.9 |
Defense |  |  | 36.6 |  |  |  | 29.9 |  |  |  | 7.9 |  |  |  | 27.8 |
Vocational |  |  | 52.2 |  |  |  | 25.3 |  |  |  | 5.9 |  |  |  | 23.1 |
Corporate |  |  | 16.0 |  |  |  | 15.0 |  |  |  | 4.1 |  |  |  | 15.2 |
Consolidated |  | $ | 159.9 |  |  | $ | 107.6 |  |  | $ | 27.0 |  |  | $ | 104.0 |
Capital expenditures: |  |  |  |  |  |  |  |  |  |  |  |
Access (b) |  | $ | 112.3 |  |  | $ | 65.7 |  |  | $ | 17.2 |  |  | $ | 55.8 |
Defense |  |  | 141.4 |  |  |  | 168.2 |  |  |  | 12.1 |  |  |  | 23.8 |
Vocational |  |  | 73.0 |  |  |  | 42.2 |  |  |  | 12.9 |  |  |  | 29.4 |
Corporate |  |  | 3.2 |  |  |  | 3.6 |  |  |  | 1.0 |  |  |  | 5.8 |
Consolidated |  | $ | 329.9 |  |  | $ | 279.7 |  |  | $ | 43.2 |  |  | $ | 114.8 |
(a) Includes $3.6 million of accelerated depreciation associated with restructuring actions in fiscal 2021. (b) Capital expenditures include both the purchase of property, plant and equipment and equipment held for rental. The following tables provide long-lived asset by country in which the Company operates. Long-lived assets include property, plant and equipment, equipment held for rental, deferred contract costs and right of use assets.
|  | December 31, 2023 |
|  | Access |  |  | Defense |  |  | Vocational |  |  | Corporate |  |  | Total |
Identifiable assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 303.8 |  |  | $ | 1,134.6 |  |  | $ | 344.5 |  |  | $ | 112.4 |  |  | $ | 1,895.3 |
China |  |  | 34.8 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 34.8 |
Mexico |  |  | 30.0 |  |  |  | — |  |  |  | 0.4 |  |  |  | — |  |  |  | 30.4 |
Netherlands |  |  | 27.9 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 27.9 |
Other |  |  | 49.7 |  |  |  | 0.2 |  |  |  | 6.0 |  |  |  | — |  |  |  | 55.9 |
Total |  | $ | 446.2 |  |  | $ | 1,134.8 |  |  | $ | 350.9 |  |  | $ | 112.4 |  |  | $ | 2,044.3 |
|  | December 31, 2022 |
|  | Access |  |  | Defense |  |  | Vocational |  |  | Corporate |  |  | Total |
Identifiable assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 219.0 |  |  | $ | 788.0 |  |  | $ | 245.9 |  |  | $ | 97.7 |  |  | $ | 1,350.6 |
China |  |  | 43.5 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 43.5 |
Mexico |  |  | 26.6 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 26.6 |
Netherlands |  |  | 21.6 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 21.6 |
Other |  |  | 26.8 |  |  |  | 0.6 |  |  |  | 8.8 |  |  |  | — |  |  |  | 36.2 |
Total |  | $ | 337.5 |  |  | $ | 788.6 |  |  | $ | 254.7 |  |  | $ | 97.7 |  |  | $ | 1,478.5 |
Total assets by segment are not disclosed as the Company's chief operating decision maker does not use total assets by segment to evaluate segment performance or allocate resources and capital. The following tables present net sales by geographic region based on product shipment destination (in millions):
|  | Year Ended December 31, 2023 |
|  | Access |  |  | Defense |  |  | Vocational |  |  | Eliminations |  |  | Total |
Net sales: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
North America |  | $ | 3,968.3 |  |  | $ | 1,754.3 |  |  | $ | 2,502.6 |  |  | $ | (8.4 | ) |  | $ | 8,216.8 |
Europe, Africa and Middle East |  |  | 573.8 |  |  |  | 342.8 |  |  |  | 32.0 |  |  |  | — |  |  |  | 948.6 |
Rest of the World |  |  | 447.9 |  |  |  | 1.1 |  |  |  | 43.5 |  |  |  | — |  |  |  | 492.5 |
Consolidated |  | $ | 4,990.0 |  |  | $ | 2,098.2 |  |  | $ | 2,578.1 |  |  | $ | (8.4 | ) |  | $ | 9,657.9 |
|  | Year Ended December 31, 2022 |
|  | Access |  |  | Defense |  |  | Vocational |  |  | Eliminations |  |  | Total |
Net sales: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
North America |  | $ | 3,298.9 |  |  | $ | 2,047.5 |  |  | $ | 2,128.9 |  |  | $ | (7.1 | ) |  | $ | 7,468.2 |
Europe, Africa and Middle East |  |  | 353.0 |  |  |  | 92.7 |  |  |  | 9.5 |  |  |  | — |  |  |  | 455.2 |
Rest of the World |  |  | 320.2 |  |  |  | 1.1 |  |  |  | 37.3 |  |  |  | — |  |  |  | 358.6 |
Consolidated |  | $ | 3,972.1 |  |  | $ | 2,141.3 |  |  | $ | 2,175.7 |  |  | $ | (7.1 | ) |  | $ | 8,282.0 |
|  | Three Months Ended December 31, 2021 (transition period) |
|  | Access |  |  | Defense |  |  | Vocational |  |  | Eliminations |  |  | Total |
Net sales: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
North America |  | $ | 671.6 |  |  | $ | 523.4 |  |  | $ | 418.8 |  |  | $ | (2.5 | ) |  | $ | 1,611.3 |
Europe, Africa and Middle East |  |  | 86.1 |  |  |  | 8.0 |  |  |  | 4.9 |  |  |  | — |  |  |  | 99.0 |
Rest of the World |  |  | 75.8 |  |  |  | 0.1 |  |  |  | 5.5 |  |  |  | — |  |  |  | 81.4 |
Consolidated |  | $ | 833.5 |  |  | $ | 531.5 |  |  | $ | 429.2 |  |  | $ | (2.5 | ) |  | $ | 1,791.7 |
|  | Year Ended September 30, 2021 |
|  | Access |  |  | Defense |  |  | Vocational |  |  | Eliminations |  |  | Total |
Net sales: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
North America |  | $ | 2,358.9 |  |  | $ | 2,337.8 |  |  | $ | 2,076.4 |  |  | $ | (24.6 | ) |  | $ | 6,748.5 |
Europe, Africa and Middle East |  |  | 273.4 |  |  |  | 183.2 |  |  |  | 48.2 |  |  |  | — |  |  |  | 504.8 |
Rest of the World |  |  | 439.8 |  |  |  | 4.6 |  |  |  | 39.6 |  |  |  | — |  |  |  | 484.0 |
Consolidated |  | $ | 3,072.1 |  |  | $ | 2,525.6 |  |  | $ | 2,164.2 |  |  | $ | (24.6 | ) |  | $ | 7,737.3 |

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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 -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
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