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STOCKHOLDERS' EQUITY | 9 Months Ended
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Sep. 30, 2024
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 nine months ended September 30, 2024 and 2023. All amounts are net of tax (in millions).
| Three Months Ended September 30, 2024 |  | Three Months Ended September 30, 2023
| 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 | $ | (290) |  | $ | (1) |  | $ | (3) |  | $ | (49) |  | $ | (343) |  |  | $ | (250) |  | $ | (4) |  | $ | (3) |  | $ | (48) |  | $ | (305) |
Other comprehensive income (loss) before reclassifications | 75 |  | (9) |  | 1 |  | (4) |  | 63 |  |  | (61) |  | 7 |  | (1) |  | 2 |  | (53) |
Amounts reclassified from AOCI | — |  | — |  | — |  | 1 |  | 1 |  |  | — |  | — |  | — |  | 1 |  | 1 |
Net other comprehensive income (loss) | 75 |  | (9) |  | 1 |  | (3) |  | 64 |  |  | (61) |  | 7 |  | (1) |  | 3 |  | (52) |
Ending balance | $ | (215) |  | $ | (10) |  | $ | (2) |  | $ | (52) |  | $ | (279) |  |  | $ | (311) |  | $ | 3 |  | $ | (4) |  | $ | (45) |  | $ | (357) |
| Nine Months Ended September 30, 2024 |  | Nine Months Ended September 30, 2023 |  |  |  |
| 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 | $ | (228) |  | $ | (5) |  | $ | (3) |  | $ | (51) |  | $ | (287) |  |  | $ | (286) |  | $ | (6) |  | $ | (4) |  | $ | (46) |  | $ | (342) |  |  |  |  |
Other comprehensive income (loss) before reclassifications | 13 |  | (4) |  | 1 |  | (3) |  | 7 |  |  | (25) |  | 6 |  | — |  | (1) |  | (20) |  |  |  |  |
Amounts reclassified from AOCI | — |  | (1) |  | — |  | 2 |  | 1 |  |  | — |  | 3 |  | — |  | 2 |  | 5 |  |  |  |  |
Net other comprehensive income (loss) | 13 |  | (5) |  | 1 |  | (1) |  | 8 |  |  | (25) |  | 9 |  | — |  | 1 |  | (15) |  |  |  |  |
Ending balance | $ | (215) |  | $ | (10) |  | $ | (2) |  | $ | (52) |  | $ | (279) |  |  | $ | (311) |  | $ | 3 |  | $ | (4) |  | $ | (45) |  | $ | (357) |  |  |  |  |
Stock-Based Compensation During the nine months ended September 30, 2024, the Company awarded 0.5 million shares of Restricted Stock to its employees with a weighted average fair value of $60.13 per share. Approximately 62% of these awards are time-based and vest ratably on each of the first three anniversary dates of the grants. Approximately 26% 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 12% cliff vest and are based on performance targets containing a market condition determined over a three-year period. Fair value of time-based awards is based on the market price of our common stock at the date of grant approval. The fair value of performance-based awards, except for awards based on a market condition, is based on the market price of our common stock at the date of grant approval, except fair values are multiplied by the probability of achievement as of the period-end date. For awards based on a market condition, fair value is based on the Monte Carlo method at grant date. The Monte Carlo method is a statistical simulation technique used to provide the grant date fair value of an award. The Company used the Monte Carlo method to determine grant date fair value of $67.70 per share for awards with a market condition granted on March 15, 2024. The following table presents the weighted-average assumptions used in the valuations:
| Grant date
| March 15, 2024
Dividend yields | 1.15 | %
Expected volatility | 42.65 | %
Risk free interest rate | 4.50 | %
Expected life (in years) | 3
Share Repurchases In July 2018, Terex’s Board of Directors (“Board”) authorized the repurchase of up to $300 million of the Company’s outstanding shares of common stock. In December 2022, Terex’s Board authorized the repurchase of up to $150 million of the Company’s outstanding shares of common stock. The table below presents shares repurchased, inclusive of transactions executed but not settled, by the Company under these programs.
| Nine Months Ended September 30 |  | Total Number of Shares Repurchased | Amount of Shares Repurchased (in millions)
| 2024 |  | 567,108 | $32
| 2023 |  | 736,644 | $34
Dividends The table below presents dividends declared by Terex’s Board and paid to the Company’s shareholders:
Year | First Quarter | Second Quarter | Third Quarter |  |  |
2024 | $ | 0.17 |  | $ | 0.17 |  | $ | 0.17 |  |  |  |
2023 | $ | 0.15 |  | $ | 0.15 |  | $ | 0.17 |  |  |  |
In October 2024, Terex’s Board declared a dividend of $0.17 per share, which will be paid on December 19, 2024 to the Company’s shareholders of record as of November 8, 2024.

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- 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 -Topic 505 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/505/tableOfContent Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/718/tableOfContent + Details
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