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Business Segment Information (Tables) | 9 Months Ended
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Sep. 30, 2024
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, |
|  | 2024 |  |  | 2023 |
|  | External Customers |  |  | Inter- segment |  |  | Net Sales |  |  | External Customers |  |  | Inter- segment |  |  | Net Sales |
Net sales: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Access |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Aerial work platforms |  | $ | 631.7 |  |  | $ | — |  |  | $ | 631.7 |  |  | $ | 654.3 |  |  | $ | — |  |  | $ | 654.3 |
Telehandlers |  |  | 445.0 |  |  |  | — |  |  |  | 445.0 |  |  |  | 393.8 |  |  |  | — |  |  |  | 393.8 |
Other |  |  | 286.6 |  |  |  | — |  |  |  | 286.6 |  |  |  | 270.1 |  |  |  | — |  |  |  | 270.1 |
Total Access |  |  | 1,363.3 |  |  |  | — |  |  |  | 1,363.3 |  |  |  | 1,318.2 |  |  |  | — |  |  |  | 1,318.2 |
Vocational |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fire apparatus |  |  | 339.7 |  |  |  | — |  |  |  | 339.7 |  |  |  | 299.5 |  |  |  | — |  |  |  | 299.5 |
Refuse collection |  |  | 168.1 |  |  |  | — |  |  |  | 168.1 |  |  |  | 149.2 |  |  |  | — |  |  |  | 149.2 |
Other |  |  | 306.2 |  |  |  | 0.2 |  |  |  | 306.4 |  |  |  | 243.5 |  |  |  | 0.4 |  |  |  | 243.9 |
Total Vocational |  |  | 814.0 |  |  |  | 0.2 |  |  |  | 814.2 |  |  |  | 692.2 |  |  |  | 0.4 |  |  |  | 692.6 |
Defense (a) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Defense |  |  | 507.4 |  |  |  | 0.6 |  |  |  | 508.0 |  |  |  | 474.0 |  |  |  | 0.6 |  |  |  | 474.6 |
Delivery vehicles |  |  | 32.4 |  |  |  | — |  |  |  | 32.4 |  |  |  | — |  |  |  | — |  |  |  | — |
Total Defense |  |  | 539.8 |  |  |  | 0.6 |  |  |  | 540.4 |  |  |  | 474.0 |  |  |  | 0.6 |  |  |  | 474.6 |
Corporate and other (a) |  |  | 24.3 |  |  |  | (0.8 | ) |  |  | 23.5 |  |  |  | 25.5 |  |  |  | (1.0 | ) |  |  | 24.5 |
Consolidated |  | $ | 2,741.4 |  |  | $ | — |  |  | $ | 2,741.4 |  |  | $ | 2,509.9 |  |  | $ | — |  |  | $ | 2,509.9 |
|  | Nine Months Ended September 30, |
|  | 2024 |  |  | 2023 |
|  | External Customers |  |  | Inter- segment |  |  | Net Sales |  |  | External Customers |  |  | Inter- segment |  |  | Net Sales |
Net sales: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Access |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Aerial work platforms |  | $ | 1,898.3 |  |  | $ | — |  |  | $ | 1,898.3 |  |  | $ | 1,921.2 |  |  | $ | — |  |  | $ | 1,921.2 |
Telehandlers |  |  | 1,247.0 |  |  |  | — |  |  |  | 1,247.0 |  |  |  | 1,126.0 |  |  |  | — |  |  |  | 1,126.0 |
Other |  |  | 862.4 |  |  |  | — |  |  |  | 862.4 |  |  |  | 792.5 |  |  |  | — |  |  |  | 792.5 |
Total Access |  |  | 4,007.7 |  |  |  | — |  |  |  | 4,007.7 |  |  |  | 3,839.7 |  |  |  | — |  |  |  | 3,839.7 |
Vocational |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fire apparatus |  |  | 1,021.4 |  |  |  | — |  |  |  | 1,021.4 |  |  |  | 884.4 |  |  |  | — |  |  |  | 884.4 |
Refuse collection |  |  | 492.3 |  |  |  | — |  |  |  | 492.3 |  |  |  | 449.0 |  |  |  | — |  |  |  | 449.0 |
Other |  |  | 915.1 |  |  |  | 0.9 |  |  |  | 916.0 |  |  |  | 507.9 |  |  |  | 1.5 |  |  |  | 509.4 |
Total Vocational |  |  | 2,428.8 |  |  |  | 0.9 |  |  |  | 2,429.7 |  |  |  | 1,841.3 |  |  |  | 1.5 |  |  |  | 1,842.8 |
Defense (a) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Defense |  |  | 1,550.9 |  |  |  | 1.8 |  |  |  | 1,552.7 |  |  |  | 1,439.7 |  |  |  | 1.2 |  |  |  | 1,440.9 |
Delivery vehicles |  |  | 68.7 |  |  |  | — |  |  |  | 68.7 |  |  |  | — |  |  |  | — |  |  |  | — |
Total Defense |  |  | 1,619.6 |  |  |  | 1.8 |  |  |  | 1,621.4 |  |  |  | 1,439.7 |  |  |  | 1.2 |  |  |  | 1,440.9 |
Corporate and other (a) |  |  | 76.0 |  |  |  | (2.7 | ) |  |  | 73.3 |  |  |  | 70.4 |  |  |  | (2.7 | ) |  |  | 67.7 |
Consolidated |  | $ | 8,132.1 |  |  | $ | — |  |  | $ | 8,132.1 |  |  | $ | 7,191.1 |  |  | $ | — |  |  | $ | 7,191.1 |
(a) Results have been reclassified to reflect the change in responsibility for Pratt Miller.
Schedule of Income (Loss) from Continuing Operations by Reportable Segment |
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Operating income (loss): |  |  |  |  |  |  |  |  |  |  |  |
Access |  | $ | 207.9 |  |  | $ | 229.9 |  |  | $ | 662.5 |  |  | $ | 576.6 |
Vocational(a) |  |  | 99.6 |  |  |  | 52.5 |  |  |  | 286.2 |  |  |  | 141.1 |
Defense(b) (d) |  |  | 11.2 |  |  |  | 19.7 |  |  |  | 36.4 |  |  |  | 25.6 |
Corporate and other(c) (d) |  |  | (52.5 | ) |  |  | (45.6 | ) |  |  | (198.3 | ) |  |  | (121.1 | )
Consolidated |  |  | 266.2 |  |  |  | 256.5 |  |  |  | 786.8 |  |  |  | 622.2 |
Interest expense, net of interest income |  |  | (31.7 | ) |  |  | (17.7 | ) |  |  | (82.8 | ) |  |  | (33.0 | )
Miscellaneous income (expense), net |  |  | 3.6 |  |  |  | 2.6 |  |  |  | 0.1 |  |  |  | 13.2 |
Income before income taxes and losses of unconsolidated affiliates |  | $ | 238.1 |  |  | $ | 241.4 |  |  | $ | 704.1 |  |  | $ | 602.4 |
(a) 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. See Note 3 for additional details on the Company's divestitures. (b) 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. See Note 3 for additional details on the Company's divestitures. (c) Results for the nine months ended September 30, 2024 include $51.6 million of intangible asset impairments. See Note 12 for additional details on the Company's goodwill and purchased intangible assets. (d) Results have been reclassified to reflect the change in responsibility for Pratt Miller.
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, 2024 |
|  | Access |  |  | Vocational |  |  | Defense |  |  | Corporate and Other |  |  | Total |
Net sales: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
North America |  | $ | 1,130.3 |  |  | $ | 768.3 |  |  | $ | 495.9 |  |  | $ | 22.8 |  |  | $ | 2,417.3 |
Europe, Africa and Middle East |  |  | 138.2 |  |  |  | 20.8 |  |  |  | 44.3 |  |  |  | 0.7 |  |  |  | 204.0 |
Rest of the World |  |  | 94.8 |  |  |  | 25.1 |  |  |  | 0.2 |  |  |  | — |  |  |  | 120.1 |
Consolidated |  | $ | 1,363.3 |  |  | $ | 814.2 |  |  | $ | 540.4 |  |  | $ | 23.5 |  |  | $ | 2,741.4 |
|  | Three Months Ended September 30, 2023 |
|  | Access |  |  | Vocational |  |  | Defense (a) |  |  | Corporate and Other (a) |  |  | Total |
Net sales: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
North America |  | $ | 1,048.4 |  |  | $ | 663.5 |  |  | $ | 401.1 |  |  | $ | 24.5 |  |  | $ | 2,137.5 |
Europe, Africa and Middle East |  |  | 160.0 |  |  |  | 16.3 |  |  |  | 73.3 |  |  |  | — |  |  |  | 249.6 |
Rest of the World |  |  | 109.8 |  |  |  | 12.8 |  |  |  | 0.2 |  |  |  | — |  |  |  | 122.8 |
Consolidated |  | $ | 1,318.2 |  |  | $ | 692.6 |  |  | $ | 474.6 |  |  | $ | 24.5 |  |  | $ | 2,509.9 |
|  | Nine Months Ended September 30, 2024 |
|  | Access |  |  | Vocational |  |  | Defense |  |  | Corporate and Other |  |  | Total |
Net sales: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
North America |  | $ | 3,331.9 |  |  | $ | 2,334.3 |  |  | $ | 1,447.4 |  |  | $ | 69.6 |  |  | $ | 7,183.2 |
Europe, Africa and Middle East |  |  | 382.8 |  |  |  | 50.0 |  |  |  | 173.5 |  |  |  | 3.7 |  |  |  | 610.0 |
Rest of the World |  |  | 293.0 |  |  |  | 45.4 |  |  |  | 0.5 |  |  |  | — |  |  |  | 338.9 |
Consolidated |  | $ | 4,007.7 |  |  | $ | 2,429.7 |  |  | $ | 1,621.4 |  |  | $ | 73.3 |  |  | $ | 8,132.1 |
|  | Nine Months Ended September 30, 2023 |
|  | Access |  |  | Vocational |  |  | Defense (a) |  |  | Corporate and Other (a) |  |  | Total |
Net sales: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
North America |  | $ | 3,048.9 |  |  | $ | 1,795.9 |  |  | $ | 1,209.6 |  |  | $ | 67.6 |  |  | $ | 6,122.0 |
Europe, Africa and Middle East |  |  | 450.9 |  |  |  | 23.0 |  |  |  | 230.6 |  |  |  | 0.1 |  |  |  | 704.6 |
Rest of the World |  |  | 339.9 |  |  |  | 23.9 |  |  |  | 0.7 |  |  |  | — |  |  |  | 364.5 |
Consolidated |  | $ | 3,839.7 |  |  | $ | 1,842.8 |  |  | $ | 1,440.9 |  |  | $ | 67.7 |  |  | $ | 7,191.1 |
(a) Results have been reclassified to reflect the change in responsibility for Pratt Miller.

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