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BUSINESS SEGMENT INFORMATION | 3 Months Ended
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Mar. 31, 2020
Segment Reporting [Abstract] |
BUSINESS SEGMENT INFORMATION | BUSINESS SEGMENT INFORMATION Terex is a global manufacturer of aerial work platforms and materials processing machinery. The Company designs, builds and supports products used in construction, maintenance, manufacturing, energy, minerals and materials management applications. Terex’s products are manufactured in North and South America, Europe, Australia and Asia and sold worldwide. The Company engages with customers through all stages of the product life cycle, from initial specification and financing to parts and service support. The Company operates in two reportable segments: (i) AWP and (ii) MP. The AWP segment designs, manufactures, services and markets aerial work platform equipment, utility equipment, telehandlers and light towers as well as their related components and replacement parts. Customers use these products to construct and maintain industrial, commercial, institutional and residential buildings and facilities, for construction and maintenance of utility and telecommunication lines, tree trimming, certain construction and foundation drilling applications, and for other commercial operations, as well as in a wide range of infrastructure projects. The MP segment designs, manufactures and markets materials processing and specialty equipment, including crushers, washing systems, screens, apron feeders, material handlers, pick and carry cranes, rough terrain cranes, tower cranes, wood processing, biomass and recycling equipment, concrete mixer trucks and concrete pavers, conveyors, and their related components and replacement parts. Customers use these products in construction, infrastructure and recycling projects, in various quarrying and mining applications, as well as in landscaping and biomass production industries, material handling applications, maintenance applications to lift equipment or material, moving materials and equipment on rugged or uneven terrain, lifting construction material and placing material at point of use. The Company’s rough terrain and tower cranes operations were consolidated within MP for financial reporting periods beginning on or after January 1, 2020, to align with its new management and reporting structure. Prior period reportable segment information was adjusted to reflect the realignment of operations. The Company assists customers in their rental, leasing and acquisition of its products through Terex Financial Services (“TFS”). TFS uses its equipment financing experience to provide financing solutions to customers who purchase the Company’s equipment. TFS is included in Corporate and Other. Corporate and Other also includes eliminations among the two segments, as well as general and corporate items. Business segment information is presented below (in millions):
|  |  |  |  | Three Months Ended March 31, |  |
|  |  |  |  | 2020 |  | 2019
Net sales |  |  |  |  |  |  |
AWP |  |  |  |  | $ | 511.7 |  |  | $ | 727.9 |
MP |  |  |  |  | 315.6 |  |  | 410.5 |
Corporate and Other / Eliminations |  |  |  |  | 6.3 |  |  | (1.8) |
Total |  |  |  |  | $ | 833.6 |  |  | $ | 1,136.6 |
Income (loss) from operations |  |  |  |  |  |  |
AWP |  |  |  |  | $ | (5.9) |  |  | $ | 59.6 |
MP |  |  |  |  | 25.0 |  |  | 59.5 |
Corporate and Other / Eliminations |  |  |  |  | (26.2) |  |  | (19.4) |
Total |  |  |  |  | $ | (7.1) |  |  | $ | 99.7 |
Sales between segments are generally priced to recover costs plus a reasonable markup for profit, which is eliminated in consolidation.
| March 31, 2020 |  | December 31, 2019
Identifiable assets |  |  |
AWP | $ | 1,824.4 |  |  | $ | 1,814.4 |
MP | 1,620.0 |  |  | 1,750.9 |
Corporate and Other / Eliminations | (335.0) |  |  | (379.5) |
Assets held for sale | 5.3 |  |  | 9.8 |
Total | $ | 3,114.7 |  |  | $ | 3,195.6 |
Geographic net sales information is presented below (in millions):
| Three Months Ended March 31, 2020 |  |  |  |  |  |  |  |  |  | Three Months Ended March 31, 2019 |  |  |  |  |  |
| AWP |  |  |  | MP |  | Corporate and Other / Eliminations |  | Total |  | AWP |  | MP |  | Corporate and Other / Eliminations |  | Total
Net sales by region |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
North America | $ | 342.5 |  |  |  |  | $ | 114.4 |  |  | $ | 14.4 |  |  | $ | 471.3 |  |  | $ | 437.4 |  |  | $ | 143.5 |  |  | $ | 13.9 |  |  | $ | 594.8 |
Western Europe | 88.8 |  |  |  |  | 105.7 |  |  | 0.1 |  |  | 194.6 |  |  | 164.5 |  |  | 144.5 |  |  | 0.1 |  |  | 309.1 |
Asia-Pacific | 51.1 |  |  |  |  | 59.0 |  |  | 0.2 |  |  | 110.3 |  |  | 79.4 |  |  | 73.7 |  |  | 0.5 |  |  | 153.6 |
Rest of World (1) | 29.3 |  |  |  |  | 36.5 |  |  | (8.4) |  |  | 57.4 |  |  | 46.6 |  |  | 48.8 |  |  | (16.3) |  |  | 79.1 |
Total (2) | $ | 511.7 |  |  |  |  | $ | 315.6 |  |  | $ | 6.3 |  |  | $ | 833.6 |  |  | $ | 727.9 |  |  | $ | 410.5 |  |  | $ | (1.8) |  |  | $ | 1,136.6 |
(1) Includes intercompany sales and eliminations. (2) Total sales include $431.1 million and $547.2 million for the three months ended March 31, 2020 and 2019, respectively, attributable to the United States, the Company’s country of domicile. The Company attributes sales to unaffiliated customers in different geographical areas based on the location of the customer. Product type net sales information is presented below (in millions):
| Three Months Ended March 31, 2020 |  |  |  |  |  |  |  |  |  | Three Months Ended March 31, 2019 |  |  |  |  |  |
| AWP |  |  |  | MP |  | Corporate and Other / Eliminations |  | Total |  | AWP |  | MP |  | Corporate and Other / Eliminations |  | Total
Net sales by product type |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Aerial Work Platforms | $ | 346.7 |  |  |  |  | $ | — |  |  | $ | 0.4 |  |  | $ | 347.1 |  |  | $ | 519.6 |  |  | $ | — |  |  | $ | 0.9 |  |  | $ | 520.5 |
Materials Processing Equipment | — |  |  |  |  | 188.1 |  |  | — |  |  | 188.1 |  |  | — |  |  | 216.0 |  |  | — |  |  | 216.0 |
Specialty Equipment | — |  |  |  |  | 126.3 |  |  | 0.3 |  |  | 126.6 |  |  | — |  |  | 192.3 |  |  | 1.1 |  |  | 193.4 |
Other (1) | 165.0 |  |  |  |  | 1.2 |  |  | 5.6 |  |  | 171.8 |  |  | 208.3 |  |  | 2.2 |  |  | (3.8) |  |  | 206.7 |
Total | $ | 511.7 |  |  |  |  | $ | 315.6 |  |  | $ | 6.3 |  |  | $ | 833.6 |  |  | $ | 727.9 |  |  | $ | 410.5 |  |  | $ | (1.8) |  |  | $ | 1,136.6 |
(1) Includes other product types, intercompany sales and eliminations.

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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