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Business Segment Information | 3 Months Ended
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Mar. 31, 2024
Segment Reporting [Abstract] |
Business Segment Information | 20. Business Segment Information 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 and manufactures towing and recovery equipment. Access customers include equipment rental companies, construction contractors, manufacturing companies, home improvement centers and towing companies. Defense: This segment consists of Oshkosh Defense and Pratt Miller. Oshkosh Defense designs and manufactures tactical wheeled vehicles and supplies parts and services for the U.S. military and other militaries around the world and delivery vehicles for the USPS. Pratt Miller provides 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, McNeilus, Oshkosh AeroTech, IMT and Oshkosh Commercial. Pierce, Airport Products and Maxi-Metal design and manufacture commercial and custom fire apparatus and emergency vehicles primarily for fire departments, airports and other governmental units. McNeilus designs and manufactures refuse collection vehicles and components. Oshkosh AeroTech designs and manufactures 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 designs and manufactures field service vehicles and truck-mounted cranes for niche markets. Oshkosh Commercial designs and manufactures 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. Selected financial information relating to the Company’s reportable segments and product lines is as follows (in millions):
|  | Three Months Ended March 31, |
|  | 2024 |  |  | 2023 |
|  | External Customers |  |  | Inter- segment |  |  | Net Sales |  |  | External Customers |  |  | Inter- segment |  |  | Net Sales |
Net sales: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Access |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Aerial work platforms |  | $ | 591.0 |  |  | $ | — |  |  | $ | 591.0 |  |  | $ | 602.0 |  |  | $ | — |  |  | $ | 602.0 |
Telehandlers |  |  | 373.4 |  |  |  | — |  |  |  | 373.4 |  |  |  | 341.4 |  |  |  | — |  |  |  | 341.4 |
Other |  |  | 273.1 |  |  |  | — |  |  |  | 273.1 |  |  |  | 249.8 |  |  |  | — |  |  |  | 249.8 |
Total Access |  |  | 1,237.5 |  |  |  | — |  |  |  | 1,237.5 |  |  |  | 1,193.2 |  |  |  | — |  |  |  | 1,193.2 |
Defense |  |  | 534.6 |  |  |  | 2.3 |  |  |  | 536.9 |  |  |  | 512.8 |  |  |  | 0.3 |  |  |  | 513.1 |
Vocational |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fire apparatus |  |  | 327.2 |  |  |  | — |  |  |  | 327.2 |  |  |  | 288.4 |  |  |  | — |  |  |  | 288.4 |
Refuse collection |  |  | 147.3 |  |  |  | — |  |  |  | 147.3 |  |  |  | 141.9 |  |  |  | — |  |  |  | 141.9 |
Other |  |  | 297.2 |  |  |  | 0.7 |  |  |  | 297.9 |  |  |  | 131.7 |  |  |  | 0.7 |  |  |  | 132.4 |
Total Vocational |  |  | 771.7 |  |  |  | 0.7 |  |  |  | 772.4 |  |  |  | 562.0 |  |  |  | 0.7 |  |  |  | 562.7 |
Eliminations |  |  | — |  |  |  | (3.0 | ) |  |  | (3.0 | ) |  |  | 0.1 |  |  |  | (1.0 | ) |  |  | (0.9 | )
Consolidated |  | $ | 2,543.8 |  |  | $ | — |  |  | $ | 2,543.8 |  |  | $ | 2,268.1 |  |  | $ | — |  |  | $ | 2,268.1 |
|  | Three Months Ended March 31, |
|  | 2024 |  |  | 2023 |
Operating income (loss): |  |  |  |  |  |
Access |  | $ | 208.1 |  |  | $ | 135.0 |
Defense |  |  | 11.3 |  |  |  | 1.7 |
Vocational |  |  | 80.1 |  |  |  | 28.1 |
Corporate and intersegment eliminations |  |  | (39.8 | ) |  |  | (34.0 | )
Consolidated |  |  | 259.7 |  |  |  | 130.8 |
Interest expense, net of interest income |  |  | (20.8 | ) |  |  | (7.2 | )
Miscellaneous income (expense), net |  |  | (2.0 | ) |  |  | 5.8 |
Income before income taxes and losses of unconsolidated affiliates |  | $ | 236.9 |  |  | $ | 129.4 |
The following table presents net sales by geographic region based on product shipment destination (in millions):
|  | Three Months Ended March 31, 2024 |
|  | Access |  |  | Defense |  |  | Vocational |  |  | Eliminations |  |  | Total |
Net sales: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
North America |  | $ | 1,031.9 |  |  | $ | 460.8 |  |  | $ | 754.2 |  |  | $ | (3.0 | ) |  | $ | 2,243.9 |
Europe, Africa and Middle East |  |  | 106.0 |  |  |  | 75.9 |  |  |  | 10.1 |  |  |  | — |  |  |  | 192.0 |
Rest of the World |  |  | 99.6 |  |  |  | 0.2 |  |  |  | 8.1 |  |  |  | — |  |  |  | 107.9 |
Consolidated |  | $ | 1,237.5 |  |  | $ | 536.9 |  |  | $ | 772.4 |  |  | $ | (3.0 | ) |  | $ | 2,543.8 |
|  | 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 |

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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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