XML 30 R20.htm IDEA: XBRL DOCUMENT
v3.20.2

STOCKHOLDERS' EQUITY | 6 Months Ended
--- | ---
Jun. 30, 2020
Stockholders' Equity Note [Abstract] |
STOCKHOLDERS' EQUITY | STOCKHOLDERS’ EQUITY Changes in Accumulated Other Comprehensive Income (Loss) The table below presents changes in AOCI by component for the three and six months ended June 30, 2020 and 2019. All amounts are net of tax (in millions).
| Three Months Ended June 30, 2020 |  |  |  |  |  | Three Months Ended June 30, 2019 |  |  |  |
| CTA | Derivative Hedging Adj. | Debt & Equity Securities Adj. | Pension Liability Adj. | Total |  | CTA | Derivative Hedging Adj. | Debt & Equity Securities Adj. | Pension Liability Adj. | Total
Beginning balance | $ | (263.0) |  | $ | (5.0) |  | $ | 2.4 |  | $ | (48.1) |  | $ | (313.7) |  |  | $ | (227.7) |  | $ | (5.5) |  | $ | 1.6 |  | $ | (55.5) |  | $ | (287.1) |
Other comprehensive income (loss) before reclassifications | 19.5 |  | (3.6) |  | 1.2 |  | (0.1) |  | 17.0 |  |  | (4.0) |  | 0.6 |  | 0.5 |  | 0.7 |  | (2.2) |
Amounts reclassified from AOCI | — |  | 1.5 |  | — |  | 0.4 |  | 1.9 |  |  | — |  | 1.4 |  | — |  | 0.6 |  | 2.0 |
Net other comprehensive income (loss) | 19.5 |  | (2.1) |  | 1.2 |  | 0.3 |  | 18.9 |  |  | (4.0) |  | 2.0 |  | 0.5 |  | 1.3 |  | (0.2) |
Ending balance | $ | (243.5) |  | $ | (7.1) |  | $ | 3.6 |  | $ | (47.8) |  | $ | (294.8) |  |  | $ | (231.7) |  | $ | (3.5) |  | $ | 2.1 |  | $ | (54.2) |  | $ | (287.3) |
| Six Months Ended June 30, 2020 |  |  |  |  |  | Six Months Ended June 30, 2019 |  |  |  |
| CTA | Derivative Hedging Adj. | Debt & Equity Securities Adj. | Pension Liability Adj. | Total |  | CTA | Derivative Hedging Adj. | Debt & Equity Securities Adj. | Pension Liability Adj. | Total
Beginning balance | $ | (208.2) |  | $ | (0.8) |  | $ | 2.6 |  | $ | (51.1) |  | $ | (257.5) |  |  | $ | (225.6) |  | $ | (4.4) |  | $ | 0.8 |  | $ | (55.6) |  | $ | (284.8) |
Other comprehensive income (loss) before reclassifications | (35.3) |  | (9.9) |  | 1.0 |  | 2.5 |  | (41.7) |  |  | (6.1) |  | (2.2) |  | 1.3 |  | 0.2 |  | (6.8) |
Amounts reclassified from AOCI | — |  | 3.6 |  | — |  | 0.8 |  | 4.4 |  |  | — |  | 3.1 |  | — |  | 1.2 |  | 4.3 |
Net other comprehensive income (loss) | (35.3) |  | (6.3) |  | 1.0 |  | 3.3 |  | (37.3) |  |  | (6.1) |  | 0.9 |  | 1.3 |  | 1.4 |  | (2.5) |
Ending balance | $ | (243.5) |  | $ | (7.1) |  | $ | 3.6 |  | $ | (47.8) |  | $ | (294.8) |  |  | $ | (231.7) |  | $ | (3.5) |  | $ | 2.1 |  | $ | (54.2) |  | $ | (287.3) |
Stock-Based Compensation During the six months ended June 30, 2020, the Company awarded 1.4 million shares of restricted stock to its employees with a weighted average grant date fair value of $22.40 per share. Approximately 58% of these awards are time-based and vest ratably on each of the first three anniversary dates. Approximately 28% cliff vest at the end of a three-year period and are subject to performance targets that may or may not be met and for which the performance period has not yet been completed. Approximately 14% cliff vest and are based on performance targets containing a market condition determined over a three-year period. The Company used the Monte Carlo method to determine grant date fair value of $21.09 per share for the awards with a market condition granted on February 26, 2020. The Monte Carlo method is a statistical simulation technique used to provide the grant date fair value of an award. The following table presents the weighted-average assumptions used in the valuation:
| Grant date
| February 26, 2020
Dividend yields | 2.12 | %
Expected volatility | 36.36 | %
Risk free interest rate | 1.14 | %
Expected life (in years) | 3
Share Repurchases and Dividends In July 2018, Terex’s Board of Directors authorized the Company to repurchase up to an additional $300 million of the Company’s outstanding shares of common stock, of which approximately $105 million was utilized prior to January 1, 2020. During the six months ended June 30, 2020, the Company repurchased 2.5 million shares for $54.6 million under this program. During the six months ended June 30, 2019, the Company did not repurchase shares under this program. In the first quarter of 2020, Terex’s Board of Directors declared a dividend of $0.12, which was paid to the Company’s shareholders. In April 2020, the Company announced that it has suspended further share repurchases and dividend payments for the remainder of 2020.

X
- Definition The entire disclosure for shareholders' equity and share-based payment arrangement. Includes, but is not limited to, disclosure of policy and terms of share-based payment arrangement, deferred compensation arrangement, and employee stock purchase plan (ESPP). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 + Details
Name: | us-gaap_ShareholdersEquityAndShareBasedPaymentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_StockholdersEquityNoteAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration