XML 54 R32.htm IDEA: XBRL DOCUMENT v3.25.0.1

INCOME TAXES INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

The components of income (loss) from continuing operations before income taxes are as follows (in millions):

						Year Ended December 31,
						2024						2023						2022
U.S.						$	72					$	89					$	(20)
Foreign						336						491						387
Income (loss) from continuing operations before income taxes						408						580						367

Schedule of Components of Income Tax Expense (Benefit)

The major components of the Company’s provision for (benefit from) income taxes on continuing operations before income taxes are summarized below (in millions):

						Year Ended December 31,
						2024						2023						2022
Current:
Federal						$	31					$	31					$	7
State						5						4						2
Foreign						47						66						59
Current income tax provision (benefit)						83						101						68
Deferred:
Federal						(4)						(4)						7
State						—						(3)						1
Foreign						(6)						(31)						(9)
Deferred income tax (benefit) provision						(10)						(38)						(1)
Provision for (benefit from) income taxes						$	73					$	63					$	67

Schedule of Deferred Tax Assets and Liabilities

The tax effects of the basis differences between tax and financial reporting purposes for assets, liabilities and loss carry forwards as of December 31, 2024 and 2023 for continuing operations are summarized below for major balance sheet captions (in millions):

						2024						2023
Property, plant and equipment						$	(34)					$	(23)
Intangibles						(5)						(8)
Inventories						9						5
Accrued warranties and product liability						9						13
Loss carry forwards						171						189
Retirement plans						9						10
Accrued compensation and benefits						18						19
Research and development						18						12
Operating lease right-of-use asset						(32)						(28)
Operating lease liability						35						30
Other						13						1
Deferred tax assets valuation allowance						(44)						(53)
Net deferred tax assets (liabilities)						$	167					$	167

Schedule of Effective Income Tax Rate Reconciliation

The Company’s Provision for (benefit from) income taxes is different from the amount that would be provided by applying the statutory federal income tax rate to the Company’s Income (loss) from continuing operations before income taxes. The reasons for the difference are summarized as follows (in millions):

						Year Ended December 31,
						2024						2023						2022
Tax at statutory U.S. federal income tax rate						$	86					$	122					$	77
State taxes						4						1						3
Change in valuation allowance						(7)						(3)						(21)
Foreign tax differential on income/losses of foreign subsidiaries						(18)						(25)						(10)
U.S. tax on multi-national operations						8						13						10
Swiss cantonal tax attribute						—						(42)						—
Research and development						(2)						(2)						(1)
Provision to return adjustments						(5)						(3)						7
Compensation						—						3						2
Other						7						(1)						—
Provision for (benefit from) income taxes						$	73					$	63					$	67

Schedule of Tax Years Subject to Examination by Major Tax Jurisdiction

Major Tax Jurisdiction			Open Tax Years
Australia			2017 - present
China			2014 - present
Germany			2017 - present
India			2005-2010, 2012, 2019 - present
Italy			2004-2005, 2009-2011, 2014, 2018 - present
Switzerland			2020 - present
United Kingdom			2019 - present
United States - federal			2017 - present
United States - states			2017 - present

Schedule of Unrecognized Tax Benefits Roll Forward

The following table summarizes the activity related to the Company’s unrecognized tax benefits (in millions).

Balance as of January 1, 2022			$	3
Additions for current year tax positions			—
Additions for prior year tax positions			2
Reductions for prior year tax positions			(2)
Reductions for current year tax positions			—
Reductions for expiration of statute of limitations			—
Settlements			—
Balance as of December 31, 2022			3
Additions for current year tax positions			—
Additions for prior year tax positions			5
Reductions for prior year tax positions			(2)
Reductions for current year tax positions			—
Reductions for expiration of statute of limitations			—
Settlements			—
Balance as of December 31, 2023			6
Additions for current year tax positions			—
Additions for prior year tax positions			7
Reductions for prior year tax positions			—
Reductions for current year tax positions			—
Reductions for expiration of statute of limitations			—
Settlements			—
Acquired balances			5
Balance as of December 31, 2024			$	18

X

- Definition

Schedule Of Tax Years Subject To Examination By Major Tax Jurisdiction

+ References

No definition available.

+ Details

Name:	tex_ScheduleOfTaxYearsSubjectToExaminationByMajorTaxJurisdictionTableTextBlock
Namespace Prefix:	tex_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-9

+ Details

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-2

+ Details

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

+ Details

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(1)(Note 1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

+ Details

Name:	us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the change in unrecognized tax benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 217
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-217

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-15A

+ Details

Name:	us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration