XML 34 R24.htm IDEA: XBRL DOCUMENT
v3.23.3

BUSINESS SEGMENT INFORMATION (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2023
Segment Reporting [Abstract] |
Schedule of Business Segment Information | Business segment information is presented below (in millions):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Net sales |  |  |  |  |  |  |
MP | $ | 541.1 |  |  | $ | 457.9 |  |  | $ | 1,672.3 |  |  | $ | 1,391.3 |
AWP | 751.0 |  |  | 662.6 |  |  | 2,261.8 |  |  | 1,811.8 |
Corporate and Other / Eliminations | (2.0) |  |  | — |  |  | (5.2) |  |  | (3.0) |
Total | $ | 1,290.1 |  |  | $ | 1,120.5 |  |  | $ | 3,928.9 |  |  | $ | 3,200.1 |
Income (loss) from operations |  |  |  |  |  |  |
MP | $ | 91.3 |  |  | $ | 66.8 |  |  | $ | 274.8 |  |  | $ | 210.8 |
AWP | 93.6 |  |  | 63.5 |  |  | 310.3 |  |  | 142.2 |
Corporate and Other / Eliminations | (21.7) |  |  | (9.5) |  |  | (64.3) |  |  | (53.8) |
Total | $ | 163.2 |  |  | $ | 120.8 |  |  | $ | 520.8 |  |  | $ | 299.2 |
Reconciliation of Operating Profit (Loss) from Segments to Consolidated |
| September 30, 2023 |  | December 31, 2022
Identifiable assets |  |  |
MP | $ | 1,863.3 |  |  | $ | 1,800.1 |
AWP | 2,242.6 |  |  | 2,122.5 |
Corporate and Other / Eliminations | (644.8) |  |  | (804.5) |
Total | $ | 3,461.1 |  |  | $ | 3,118.1 |
Revenue from External Customers by Geographic Areas | Geographic net sales information is presented below (in millions):
|  |  | Three Months Ended September 30, 2023 |  |  | Three Months Ended September 30, 2022
|  |  | MP |  | AWP |  | Corporate and Other / Eliminations |  | Total |  |  |  | MP |  | AWP |  | Corporate and Other / Eliminations |  | Total
Net sales by region |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
North America |  |  | $ | 243.2 |  |  | $ | 533.1 |  |  | $ | 4.3 |  |  | $ | 780.6 |  |  |  |  | $ | 189.9 |  |  | $ | 444.8 |  |  | $ | 7.4 |  |  | $ | 642.1 |
Western Europe |  |  | 142.5 |  |  | 103.2 |  |  | — |  |  | 245.7 |  |  |  |  | 137.1 |  |  | 98.4 |  |  | 0.1 |  |  | 235.6 |
Asia-Pacific |  |  | 105.4 |  |  | 64.4 |  |  | — |  |  | 169.8 |  |  |  |  | 95.0 |  |  | 65.9 |  |  | 0.5 |  |  | 161.4 |
Rest of World (1) |  |  | 50.0 |  |  | 50.3 |  |  | (6.3) |  |  | 94.0 |  |  |  |  | 35.9 |  |  | 53.5 |  |  | (8.0) |  |  | 81.4 |
Total (2) |  |  | $ | 541.1 |  |  | $ | 751.0 |  |  | $ | (2.0) |  |  | $ | 1,290.1 |  |  |  |  | $ | 457.9 |  |  | $ | 662.6 |  |  | $ | — |  |  | $ | 1,120.5 |
(1) Includes intercompany sales and eliminations. (2) Total sales include $716.9 million and $568.6 million for the three months ended September 30, 2023 and 2022, respectively, attributable to the U.S., the Company’s country of domicile.
|  |  | Nine Months Ended September 30, 2023 |  |  |  | Nine Months Ended September 30, 2022
|  |  | MP |  | AWP |  | Corporate and Other / Eliminations |  | Total |  |  |  | MP |  | AWP |  | Corporate and Other / Eliminations |  | Total
Net sales by region |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
North America |  |  | $ | 751.8 |  |  | $ | 1,551.0 |  |  | $ | 10.5 |  |  | $ | 2,313.3 |  |  |  |  | $ | 561.7 |  |  | $ | 1,226.8 |  |  | $ | 10.8 |  |  | $ | 1,799.3 |
Western Europe |  |  | 457.6 |  |  | 366.7 |  |  | 0.1 |  |  | 824.4 |  |  |  |  | 431.8 |  |  | 293.0 |  |  | 0.3 |  |  | 725.1 |
Asia-Pacific |  |  | 306.1 |  |  | 176.4 |  |  | 0.2 |  |  | 482.7 |  |  |  |  | 282.9 |  |  | 161.5 |  |  | 0.5 |  |  | 444.9 |
Rest of World (1) |  |  | 156.8 |  |  | 167.7 |  |  | (16.0) |  |  | 308.5 |  |  |  |  | 114.9 |  |  | 130.5 |  |  | (14.6) |  |  | 230.8 |
Total (2) |  |  | $ | 1,672.3 |  |  | $ | 2,261.8 |  |  | $ | (5.2) |  |  | $ | 3,928.9 |  |  |  |  | $ | 1,391.3 |  |  | $ | 1,811.8 |  |  | $ | (3.0) |  |  | $ | 3,200.1 |
(1) Includes intercompany sales and eliminations. (2) Total sales include $2.1 billion and $1.6 billion for the nine months ended September 30, 2023 and 2022, respectively, attributable to the U.S., the Company’s country of domicile.
Revenue from External Customers by Products and Services | Product type net sales information is presented below (in millions):
|  |  | Three Months Ended September 30, 2023 |  |  |  | Three Months Ended September 30, 2022
|  |  | MP |  | AWP |  | Corporate and Other / Eliminations |  | Total |  |  |  | MP |  | AWP |  | Corporate and Other / Eliminations |  | Total
Net sales by product type |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Aerial Work Platforms |  |  | $ | — |  |  | $ | 527.6 |  |  | $ | 0.6 |  |  | $ | 528.2 |  |  |  |  | $ | — |  |  | $ | 505.5 |  |  | $ | 0.3 |  |  | $ | 505.8 |
Materials Processing Equipment |  |  | 371.3 |  |  | — |  |  | — |  |  | 371.3 |  |  |  |  | 277.3 |  |  | — |  |  | — |  |  | 277.3 |
Specialty Equipment |  |  | 169.4 |  |  | — |  |  | 0.3 |  |  | 169.7 |  |  |  |  | 179.7 |  |  | — |  |  | 0.3 |  |  | 180.0 |
Utility Equipment |  |  | — |  |  | 143.3 |  |  | — |  |  | 143.3 |  |  |  |  | — |  |  | 116.7 |  |  | — |  |  | 116.7 |
Other (1) |  |  | 0.4 |  |  | 80.1 |  |  | (2.9) |  |  | 77.6 |  |  |  |  | 0.9 |  |  | 40.4 |  |  | (0.6) |  |  | 40.7 |
Total |  |  | $ | 541.1 |  |  | $ | 751.0 |  |  | $ | (2.0) |  |  | $ | 1,290.1 |  |  |  |  | $ | 457.9 |  |  | $ | 662.6 |  |  | $ | — |  |  | $ | 1,120.5 |
(1) Includes other product types, intercompany sales and eliminations.
|  |  |  |  | Nine Months Ended September 30, 2023 |  |  |  | Nine Months Ended September 30, 2022 |  |  |  |
|  |  |  |  | MP |  | AWP |  | Corporate and Other / Eliminations |  | Total |  |  |  | MP |  | AWP |  | Corporate and Other / Eliminations |  | Total |  |  |  |
Net sales by product type |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Aerial Work Platforms |  |  |  |  | $ | — |  |  | $ | 1,597.0 |  |  | $ | 1.7 |  |  | $ | 1,598.7 |  |  |  |  | $ | — |  |  | $ | 1,344.5 |  |  | $ | 1.1 |  |  | $ | 1,345.6 |  |  |  |  |
Materials Processing Equipment |  |  |  |  | 1,043.3 |  |  | — |  |  | — |  |  | 1,043.3 |  |  |  |  | 826.6 |  |  | — |  |  | 0.5 |  |  | 827.1 |  |  |  |  |
Specialty Equipment |  |  |  |  | 625.1 |  |  | — |  |  | 0.9 |  |  | 626.0 |  |  |  |  | 562.4 |  |  | — |  |  | 1.0 |  |  | 563.4 |  |  |  |  |
Utility Equipment |  |  |  |  | — |  |  | 428.6 |  |  | — |  |  | 428.6 |  |  |  |  | — |  |  | 343.3 |  |  | — |  |  | 343.3 |  |  |  |  |
Other (1) |  |  |  |  | 3.9 |  |  | 236.2 |  |  | (7.8) |  |  | 232.3 |  |  |  |  | 2.3 |  |  | 124.0 |  |  | (5.6) |  |  | 120.7 |  |  |  |  |
Total |  |  |  |  | $ | 1,672.3 |  |  | $ | 2,261.8 |  |  | $ | (5.2) |  |  | $ | 3,928.9 |  |  |  |  | $ | 1,391.3 |  |  | $ | 1,811.8 |  |  | $ | (3.0) |  |  | $ | 3,200.1 |  |  |  |  |
(1) Includes other product types, intercompany sales and eliminations.

X
- Definition Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30 + Details
Name: | us-gaap_ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of revenue from external customers by geographic areas attributed to the entity's country of domicile and to foreign countries from which the entity derives revenue. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Subparagraph a -SubTopic 10 -Topic 280 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 + Details
Name: | us-gaap_RevenueFromExternalCustomersByGeographicAreasTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of entity-wide revenues from external customers for each product or service or each group of similar products or services if the information is not provided as part of the reportable operating segment information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 + Details
Name: | us-gaap_ScheduleOfEntityWideInformationRevenueFromExternalCustomersByProductsAndServicesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-25 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30 + Details
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

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