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Segment Reporting
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Segment Reporting SEGMENT REPORTING
    The Company has four operating segments which are also its reportable segments which consist of the North America, South America, Europe/Middle East and Asia/Pacific/Africa regions. The Company’s reportable segments are geography based and distribute a full range of agricultural machinery and precision agriculture technology. The Company’s Chief Operating Decision Maker (“CODM”), Eric P. Hansotia, Chairman of the Board, President and Chief Executive Officer, evaluates segment performance primarily based on income from operations. The CODM utilizes income from operations to evaluate each segment’s performance including the allocation of resources. Sales for each segment are based on the location of the third-party customer. The Company’s selling, general and administrative expenses and engineering expenses are generally charged to each segment based on the region and division where the expenses are incurred. As a result, the components of income (loss) from operations for one segment may not be comparable to another segment. Segment results for the three and six months ended June 30, 2025 and 2024 and assets as of June 30, 2025 and December 31, 2024 based on the Company’s reportable segments are as follows (in millions):

Three Months Ended
June 30,
North AmericaSouth AmericaEurope/Middle EastAsia/Pacific/AfricaTotal Segments
Other(1)
Total
2025
Net sales$420.9 $303.4 $1,774.9 $135.8 $2,635.0 $— $2,635.0 
Cost of goods sold
327.3 243.8 1,299.3 106.0 1,976.4 — 1,976.4 
Selling, general and administrative expenses
80.6 29.8 140.1 17.9 268.4 — 268.4 
Engineering expenses
35.1 6.0 74.2 2.5 117.8 — 117.8 
Income (loss) from operations$(22.1)$23.8 $261.3 $9.4 $272.4 $— $272.4 
Depreciation$14.0 $8.1 $38.9 $3.1 $64.1 $— $64.1 
Capital expenditures10.3 4.0 27.2 0.7 42.2 — 42.2 
2024
Net sales(2)
$627.2 $315.9 $1,869.5 $143.5 $2,956.1 $290.5 $3,246.6 
Cost of goods sold
468.9 265.5 1,350.6 110.4 2,195.4 213.7 2,409.1 
Selling, general and administrative expenses
84.6 31.4 145.4 19.5 280.9 28.6 309.5 
Engineering expenses
37.5 12.6 77.9 3.2 131.2 6.6 137.8 
Income from operations(3)
$36.2 $6.4 $295.6 $10.4 $348.6 $41.6 $390.2 
Depreciation$15.1 $9.1 $33.0 $4.6 61.8 $3.4 $65.2 
Capital expenditures17.0 8.0 70.2 1.3 96.5 1.5 98.0 
____________________________________
(1)    “Other” represents the results for the three months ended June 30, 2024 for the majority of the Company’s Grain & Protein (“G&P”) business which was divested on November 1, 2024. The results of the G&P business through the date of the divestiture were previously included within our North America, South America, Europe/Middle East and Asia/Pacific/Africa segments.
(2)    Of the $290.5 million of the net sales of the divested G&P business recast to “Other”, $210.6 million, $33.0 million, $33.4 million and $13.5 million were previously included within our North America, South America, Europe/Middle East and Asia/Pacific/Africa segments, respectively.
(3)    Of the $41.6 million of the income (loss) from operations of the divested G&P business recast to “Other”, $40.5 million, $6.2 million, $(7.1) million and $2.0 million were previously included within our North America, South America, Europe/Middle East and Asia/Pacific/Africa segments, respectively.
Six Months Ended
June 30,
North AmericaSouth AmericaEurope/Middle EastAsia/Pacific/AfricaTotal Segments
Other(1)
Total
2025
Net sales$816.5 $533.3 $3,105.4 $230.3 $4,685.5 $— $4,685.5 
Cost of goods sold
622.9 429.0 2,270.1 184.3 3,506.3 — 3,506.3 
Selling, general and administrative expenses
167.2 62.1 275.3 34.4 539.0 — 539.0 
Engineering expenses
68.3 16.3 144.3 4.9 233.8 — 233.8 
Income (loss) from operations
$(41.9)$25.9 $415.7 $6.7 $406.4 $— $406.4 
Depreciation$29.2 $16.0 $74.0 $5.4 $124.6 $— $124.6 
Capital expenditures16.6 10.6 61.6 1.6 90.4 — 90.4 
2024
Net sales(2)
$1,228.3 $588.9 $3,576.4 $291.1 $5,684.7 $490.6 $6,175.3 
Cost of goods sold
927.1 489.6 2,550.4 228.3 4,195.4 372.6 4,568.0 
Selling, general and administrative expenses
166.1 53.8 283.1 37.7 540.7 58.2 598.9 
Engineering expenses
70.5 27.1 152.2 5.6 255.4 13.3 268.7 
Income from operations(3)
$64.6 $18.4 $590.7 $19.5 $693.2 $46.5 $739.7 
Depreciation$29.9 $18.0 $65.1 $8.6 $121.6 $6.9 $128.5 
Capital expenditures33.3 23.1 131.1 1.9 189.4 3.6 193.0 
Assets
As of June 30, 2025
$1,524.9 $1,046.3 $3,187.7 $713.9 $6,472.8 $— $6,472.8 
As of December 31, 20241,527.9 946.9 2,841.4 697.7 6,013.9 — 6,013.9 
____________________________________
(1)    “Other” represents the results for the six months ended June 30, 2024 for the majority of the Company’s G&P business which was divested on November 1, 2024. The results of the G&P business through the date of the divestiture were previously included within our North America, South America, Europe/Middle East and Asia/Pacific/Africa segments.
(2)    Of the $490.6 million of the net sales of the divested G&P business recast to “Other”, $339.1 million, $63.4 million, $55.5 million and $32.6 million were previously included within our North America, South America, Europe/Middle East and Asia/Pacific/Africa segments, respectively.
(3)    Of the $46.5 million of the income (loss) from operations of the divested G&P business recast to “Other”, $54.5 million, $10.4 million, $(19.3) million and $0.9 million were previously included within our North America, South America, Europe/Middle East and Asia/Pacific/Africa segments, respectively.
    A reconciliation from the segment information to the consolidated balances for income (loss) from operations is set forth below (in millions):

Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
Segment income from operations$272.4 $348.6 $406.4 $693.2 
Other(1)
— 41.6 — 46.5 
Impairment charges(6.8)(5.1)(7.9)(5.1)
Loss on sale of business
(12.3)(494.6)(12.3)(494.6)
Corporate expenses(47.7)(62.9)(95.8)(115.9)
Amortization of intangibles(15.7)(31.7)(31.0)(45.6)
Stock compensation expense(10.3)(7.4)(17.4)(15.4)
Restructuring and business optimization expenses
(15.6)(30.2)(28.6)(31.2)
Consolidated income (loss) from operations
$164.0 $(241.7)$213.4 $31.9 
____________________________________
(1)    “Other” represents the results for the three and six months ended June 30, 2024 for the majority of the Company’s G&P business which was divested on November 1, 2024. The results of the G&P business through the date of the divestiture were previously included within our North America, South America, Europe/Middle East and Asia/Pacific/Africa segments.