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BUSINESS SEGMENT INFORMATION (Tables)

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Schedule of business segment information

Business segment information is presented below (in millions):

			Year Ended December 31, 2024
			MP						AWP						ESG						Total
Net sales			$	1,902					$	2,996					$	228					$	5,126
Reconciliation of net sales
Corporate and Other / Eliminations																					1
Consolidated net sales																					5,127
Less: (1)
Cost of goods sold			1,458						2,406						197						4,061
Compensation expense			108						118						12						238
Other segment items (2)			84						130						7						221
Segment income (loss) from operations			$	252					$	342					$	12					$	606
Reconciliation of income (loss) from operations
Corporate and Other / Eliminations																					(80)
Consolidated income (loss) from operations																					$	526

(1) Significant expense categories and amounts align with the segment-level information that is regularly provided to the chief operating decision maker. Intersegment expenses are included within the amounts shown.

(2) Other segment items includes corporate management charges, travel & entertainment, depreciation & amortization, property & utilities, selling & marketing, research & development and communication & software expenses. Individually, each of these categories represents an insignificant amount.

			Year Ended December 31, 2023
			MP						AWP						ESG						Total
Net sales			$	2,227					$	2,922					$	—					$	5,149
Reconciliation of net sales
Corporate and Other / Eliminations																					3
Consolidated net sales																					5,152
Less: (1)
Cost of goods sold			1,672						2,298						—						3,970
Compensation expense			113						123						—						236
Other segment items (2)			83						130						—						213
Segment income (loss) from operations			$	359					$	371					$	—					$	730
Reconciliation of income (loss) from operations
Corporate and Other / Eliminations																					(93)
Consolidated income (loss) from operations																					$	637

(1) Significant expense categories and amounts align with the segment-level information that is regularly provided to the chief operating decision maker. Intersegment expenses are included within the amounts shown.

(2) Other segment items includes corporate management charges, travel & entertainment, depreciation & amortization, property & utilities, selling & marketing, research & development and communication & software expenses. Individually, each of these categories represents an insignificant amount.

			Year Ended December 31, 2022
			MP						AWP						ESG						Total
Net sales			$	1,942					$	2,484					$	—					$	4,426
Reconciliation of net sales
Corporate and Other / Eliminations																					(8)
Consolidated net sales																					4,418
Less: (1)
Cost of goods sold			1,476						2,080						—						3,556
Compensation expense			93						104						—						197
Other segment items (2)			75						104						—						179
Segment income (loss) from operations			$	298					$	196					$	—					$	494
Reconciliation of income (loss) from operations
Corporate and Other / Eliminations																					(74)
Consolidated income (loss) from operations																					$	420

(1) Significant expense categories and amounts align with the segment-level information that is regularly provided to the chief operating decision maker. Intersegment expenses are included within the amounts shown.

(2) Other segment items includes corporate management charges, travel & entertainment, depreciation & amortization, property & utilities, selling & marketing, research & development and communication & software expenses. Individually, each of these categories represents an insignificant amount.

			Year Ended December 31,
			2024						2023						2022
Depreciation and amortization
MP			$	20					$	16					$	14
AWP			32						32						25
ESG			20						—						—
Corporate			10						8						8
Total			$	82					$	56					$	47
Capital expenditures
MP			$	47					$	38					$	25
AWP			73						79						78
ESG			3						—						—
Corporate			14						10						7
Total			$	137					$	127					$	110

			December 31,
			2024						2023
Identifiable assets
MP			$	1,885					$	2,091
AWP			2,193						2,216
ESG			2,273						—
Corporate and Other / Eliminations			(621)						(692)
Total			$	5,730					$	3,615

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,
			2024						2023
Long-lived Assets
U.S.			$	299					$	192
United Kingdom			104						97
Mexico			141						125
China			61						65
Other European countries			67						62
All other			42						29
Total			$	714					$	570

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, 2024
			MP						AWP						ESG						Corporate and Other / Eliminations						Total
Net sales by region
North America			$	871					$	2,263					$	227					$	6					$	3,367
Western Europe			468						388						—						1						857
Asia-Pacific			377						177						—						1						555
Rest of World (1)			186						168						1						(7)						348
Total (2)			$	1,902					$	2,996					$	228					$	1					$	5,127

(1) Includes intercompany sales and eliminations.

(2) Total sales include $3.1 billion attributable to the U.S., the Company’s country of domicile.

			Year Ended December 31, 2023
			MP						AWP												ESG						Corporate and Other / Eliminations						Total
Net sales by region
North America			$	974					$	2,043											$	—					$	14					$	3,031
Western Europe			609						434												—						1						1,044
Asia-Pacific			427						235												—						—						662
Rest of World (1)			217						210												—						(12)						415
Total (2)			$	2,227					$	2,922											$	—					$	3					$	5,152

(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												ESG						Corporate and Other / Eliminations						Total
Net sales by region
North America			$	819					$	1,666											$	—					$	12					$	2,497
Western Europe			567						387												—						—						954
Asia-Pacific			384						228												—						1						613
Rest of World (1)			172						203												—						(21)						354
Total (2)			$	1,942					$	2,484											$	—					$	(8)					$	4,418

(1) Includes intercompany sales and eliminations.

(2) Total sales include $2.2 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, 2024
			MP						AWP												ESG						Corporate and Other / Eliminations						Total
Net sales by product type
Aerial Work Platforms			$	—					$	2,031											$	—					$	1					$	2,032
Materials Processing Equipment			1,238						—												—						—						1,238
Specialty Equipment			664						—												—						—						664
Utility Equipment			—						589												—						—						589
ESG Equipment			—						—												204						—						204
Other (1)			—						376												24						—						400
Total			$	1,902					$	2,996											$	228					$	1					$	5,127

(1) Includes other product types, intercompany sales and eliminations.

			Year Ended December 31, 2023
			MP						AWP												ESG						Corporate and Other / Eliminations						Total
Net sales by product type
Aerial Work Platforms			$	—					$	2,033											$	—					$	3					$	2,036
Materials Processing Equipment			1,412						—												—						—						1,412
Specialty Equipment			814						—												—						1						815
Utility Equipment			—						575												—						—						575
ESG Equipment			—						—												—						—						—
Other (1)			1						314												—						(1)						314
Total			$	2,227					$	2,922											$	—					$	3					$	5,152

(1) Includes other product types, intercompany sales and eliminations.

			Year Ended December 31, 2022
			MP						AWP												ESG						Corporate and Other / Eliminations						Total
Net sales by product type
Aerial Work Platforms			$	—					$	1,799											$	—					$	1					$	1,800
Materials Processing Equipment			1,155						—												—						1						1,156
Specialty Equipment			781						—												—						1						782
Utility Equipment			—						466												—						—						466
ESG Equipment			—						—												—						—						—
Other (1)			6						219												—						(11)						214
Total			$	1,942					$	2,484											$	—					$	(8)					$	4,418

(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.

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-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
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- 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

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-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
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- 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

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