XML 45 R29.htm IDEA: XBRL DOCUMENT
v3.24.0.1

BUSINESS SEGMENT INFORMATION (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2023
Segment Reporting [Abstract] |
Schedule of business segment information | Business segment information is presented below (in millions):
| Year Ended December 31,
| 2023 |  | 2022 |  | 2021
Net sales |  |  |  |  |
MP | $ | 2,227.0 |  |  | $ | 1,941.6 |  |  | $ | 1,691.8 |
AWP | 2,921.7 |  |  | 2,483.6 |  |  | 2,178.8 |
Corporate and Other / Eliminations | 2.8 |  |  | (7.5) |  |  | 16.2 |
Total | $ | 5,151.5 |  |  | $ | 4,417.7 |  |  | $ | 3,886.8 |
Income (loss) from operations |  |  |  |  |
MP | $ | 358.6 |  |  | $ | 297.8 |  |  | $ | 240.9 |
AWP | 371.3 |  |  | 196.2 |  |  | 152.1 |
Corporate and Other / Eliminations | (93.4) |  |  | (74.0) |  |  | (65.0) |
Total | $ | 636.5 |  |  | $ | 420.0 |  |  | $ | 328.0 |
Depreciation and amortization |  |  |  |  |
MP | $ | 16.2 |  |  | $ | 14.4 |  |  | $ | 13.3 |
AWP | 31.7 |  |  | 24.8 |  |  | 25.9 |
Corporate | 8.5 |  |  | 8.0 |  |  | 11.0 |
Total | $ | 56.4 |  |  | $ | 47.2 |  |  | $ | 50.2 |
Capital expenditures |  |  |  |  |
MP | $ | 37.6 |  |  | $ | 25.2 |  |  | $ | 15.8 |
AWP | 79.3 |  |  | 77.6 |  |  | 41.2 |
Corporate | 10.3 |  |  | 6.8 |  |  | 2.7 |
Total | $ | 127.2 |  |  | $ | 109.6 |  |  | $ | 59.7 |
| December 31,
| 2023 |  | 2022
Identifiable assets |  |  |
MP (1) | $ | 2,091.4 |  |  | $ | 1,800.1 |
AWP (1) | 2,216.2 |  |  | 1,959.5 |
Corporate and Other / Eliminations | (692.1) |  |  | (641.5) |
Total | $ | 3,615.5 |  |  | $ | 3,118.1 |
(1) Increase primarily due to higher receivables and inventory.
Schedule of Disclosure on Geographic Areas, Long-Lived Assets in Individual Foreign Countries by Country | Long-lived assets consist of net fixed assets, which can be attributed to the specific geographic regions (in millions):
| December 31,
| 2023 |  | 2022
Long-lived Assets |  |  |
U.S. | $ | 192.1 |  |  | $ | 187.6 |
United Kingdom | 96.4 |  |  | 81.8 |
Mexico | 125.4 |  |  | 82.6 |
China | 65.2 |  |  | 54.1 |
Other European countries | 62.0 |  |  | 40.2 |
All other | 28.7 |  |  | 19.3 |
Total | $ | 569.8 |  |  | $ | 465.6 |
Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area | Geographic net sales information is presented below (in millions):
| Year Ended December 31, 2023
| MP |  | AWP |  | Corporate and Other / Eliminations |  | Total
Net sales by region |  |  |  |  |  |  |
North America | $ | 973.9 |  |  | $ | 2,042.6 |  |  | $ | 14.5 |  |  | $ | 3,031.0 |
Western Europe | 609.4 |  |  | 434.0 |  |  | 0.2 |  |  | 1,043.6 |
Asia-Pacific | 426.3 |  |  | 235.1 |  |  | 0.2 |  |  | 661.6 |
Rest of World (1) | 217.4 |  |  | 210.0 |  |  | (12.1) |  |  | 415.3 |
Total (2) | $ | 2,227.0 |  |  | $ | 2,921.7 |  |  | $ | 2.8 |  |  | $ | 5,151.5 |
(1) Includes intercompany sales and eliminations. (2) Total sales include $2.8 billion attributable to the U.S., the Company’s country of domicile.
| Year Ended December 31, 2022
| MP |  | AWP |  |  |  | Corporate and Other / Eliminations |  | Total
Net sales by region |  |  |  |  |  |  |  |  |
North America | $ | 818.6 |  |  | $ | 1,666.4 |  |  |  |  | $ | 12.2 |  |  | $ | 2,497.2 |
Western Europe | 566.6 |  |  | 386.9 |  |  |  |  | 0.4 |  |  | 953.9 |
Asia-Pacific | 384.6 |  |  | 227.2 |  |  |  |  | 0.6 |  |  | 612.4 |
Rest of World (1) | 171.8 |  |  | 203.1 |  |  |  |  | (20.7) |  |  | 354.2 |
Total (2) | $ | 1,941.6 |  |  | $ | 2,483.6 |  |  |  |  | $ | (7.5) |  |  | $ | 4,417.7 |
(1) Includes intercompany sales and eliminations. (2) Total sales include $2.2 billion attributable to the U.S., the Company’s country of domicile.
| Year Ended December 31, 2021
| MP |  | AWP |  |  |  | Corporate and Other / Eliminations |  | Total
Net sales by region |  |  |  |  |  |  |  |  |
North America | $ | 667.4 |  |  | $ | 1,415.8 |  |  |  |  | $ | 26.3 |  |  | $ | 2,109.5 |
Western Europe | 515.6 |  |  | 346.7 |  |  |  |  | 0.5 |  |  | 862.8 |
Asia-Pacific | 349.3 |  |  | 310.3 |  |  |  |  | 3.1 |  |  | 662.7 |
Rest of World (1) | 159.5 |  |  | 106.0 |  |  |  |  | (13.7) |  |  | 251.8 |
Total (2) | $ | 1,691.8 |  |  | $ | 2,178.8 |  |  |  |  | $ | 16.2 |  |  | $ | 3,886.8 |
(1) Includes intercompany sales and eliminations. (2) Total sales include $1.9 billion attributable to the U.S., 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):
| Year Ended December 31, 2023
| MP |  | AWP |  |  |  | Corporate and Other / Eliminations |  | Total
Net sales by product type |  |  |  |  |  |  |  |  |
Aerial Work Platforms | $ | — |  |  | $ | 2,033.3 |  |  |  |  | $ | 3.1 |  |  | $ | 2,036.4 |
Materials Processing Equipment | 1,412.0 |  |  | — |  |  |  |  | — |  |  | 1,412.0 |
Specialty Equipment | 814.1 |  |  | — |  |  |  |  | 0.7 |  |  | 814.8 |
Utility Equipment | — |  |  | 574.8 |  |  |  |  | — |  |  | 574.8 |
Other (1) | 0.9 |  |  | 313.6 |  |  |  |  | (1.0) |  |  | 313.5 |
Total | $ | 2,227.0 |  |  | $ | 2,921.7 |  |  |  |  | $ | 2.8 |  |  | $ | 5,151.5 |
(1) Includes other product types, intercompany sales and eliminations.
| Year Ended December 31, 2022
| MP |  | AWP |  |  |  | Corporate and Other / Eliminations |  | Total
Net sales by product type |  |  |  |  |  |  |  |  |
Aerial Work Platforms | $ | — |  |  | $ | 1,798.8 |  |  |  |  | $ | 1.2 |  |  | $ | 1,800.0 |
Materials Processing Equipment | 1,155.0 |  |  | — |  |  |  |  | 0.5 |  |  | 1,155.5 |
Specialty Equipment | 780.7 |  |  | — |  |  |  |  | 1.3 |  |  | 782.0 |
Utility Equipment | — |  |  | 466.4 |  |  |  |  | — |  |  | 466.4 |
Other (1) | 5.9 |  |  | 218.4 |  |  |  |  | (10.5) |  |  | 213.8 |
Total | $ | 1,941.6 |  |  | $ | 2,483.6 |  |  |  |  | $ | (7.5) |  |  | $ | 4,417.7 |
(1) Includes other product types, intercompany sales and eliminations.
| Year Ended December 31, 2021
| MP |  | AWP |  |  |  | Corporate and Other / Eliminations |  | Total
Net sales by product type |  |  |  |  |  |  |  |  |
Aerial Work Platforms | $ | — |  |  | $ | 1,611.8 |  |  |  |  | $ | 1.6 |  |  | $ | 1,613.4 |
Materials Processing Equipment | 995.9 |  |  | — |  |  |  |  | 1.3 |  |  | 997.2 |
Specialty Equipment | 693.5 |  |  | — |  |  |  |  | 2.2 |  |  | 695.7 |
Utility Equipment | — |  |  | 380.6 |  |  |  |  | 0.6 |  |  | 381.2 |
Other (1) | 2.4 |  |  | 186.4 |  |  |  |  | 10.5 |  |  | 199.3 |
Total | $ | 1,691.8 |  |  | $ | 2,178.8 |  |  |  |  | $ | 16.2 |  |  | $ | 3,886.8 |
(1) Includes other product types, intercompany sales and eliminations.

X
- Definition Tabular disclosure of the names of foreign countries in which material long-lived assets other than financial instruments, long-term customer relationships of a financial institution, mortgage and other servicing rights, deferred policy acquisition costs, and deferred tax assets are located, and amount of such long-lived assets located in that country or foreign geographic area. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 + Details
Name: | us-gaap_ScheduleOfEntityWideDisclosureOnGeographicAreasLongLivedAssetsInIndividualForeignCountriesByCountryTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the names of foreign countries from which revenue is material and the amount of revenue from external customers attributed to those countries. An entity may also provide subtotals of geographic information about groups of countries. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2 + Details
Name: | us-gaap_ScheduleOfRevenueFromExternalCustomersAttributedToForeignCountriesByGeographicAreaTextBlock
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