v3.25.4

BUSINESS SEGMENT INFORMATION (Tables) | 12 Months Ended
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Dec. 31, 2025
Segment Reporting [Abstract] |
Schedule of business segment information | Business segment information is presented below (in millions):
|  |  | Year Ended December 31, 2025
| ES |  | MP |  | Aerials |  | Total
Net sales | $ | 1,691 |  |  | $ | 1,681 |  |  | $ | 2,060 |  |  | $ | 5,432 |
Reconciliation of net sales |  |  |  |  |  |  |
Corporate and Other / Eliminations |  |  |  |  |  |  | (11) |
Consolidated net sales |  |  |  |  |  |  | 5,421 |
Less: (1) |  |  |  |  |  |  |
Cost of goods sold | 1,318 |  |  | 1,306 |  |  | 1,752 |  |  | 4,376 |
Compensation expense | 80 |  |  | 101 |  |  | 92 |  |  | 273 |
Other segment items (2) | 59 |  |  | 40 |  |  | 113 |  |  | 212 |
Segment operating profit | $ | 234 |  |  | $ | 234 |  |  | $ | 103 |  |  | $ | 571 |
Reconciliation of operating profit |  |  |  |  |  |  |
Corporate and Other / Eliminations |  |  |  |  |  |  | (96) |
Consolidated operating profit |  |  |  |  |  |  | $ | 475 |
(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, professional services, travel & entertainment, depreciation & amortization, property & utilities, selling & marketing, research & development, communication & software, staff amenities, and finance expenses. Individually, each of these categories represents an insignificant amount.
|  | Year Ended December 31, 2024
| ES | MP |  | Aerials |  | Total
Net sales | $ | 822 |  | $ | 1,902 |  |  | $ | 2,410 |  |  | $ | 5,134 |
Reconciliation of net sales |  |  |  |  |  |
Corporate and Other / Eliminations |  |  |  |  |  | (7) |
Consolidated net sales |  |  |  |  |  | 5,127 |
Less: (1) |  |  |  |  |  |
Cost of goods sold | 674 |  | 1,458 |  |  | 1,937 |  |  | 4,069 |
Compensation expense | 35 |  | 108 |  |  | 95 |  |  | 238 |
Other segment items (2) | 31 |  | 84 |  |  | 107 |  |  | 222 |
Segment operating profit | $ | 82 |  | $ | 252 |  |  | $ | 271 |  |  | $ | 605 |
Reconciliation of operating profit |  |  |  |  |  |
Corporate and Other / Eliminations |  |  |  |  |  | (79) |
Consolidated operating profit |  |  |  |  |  | $ | 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, communication & software, staff amenities, and finance expenses. Individually, each of these categories represents an insignificant amount.
|  |  | Year Ended December 31, 2023
| ES |  | MP |  | Aerials |  | Total
Net sales | $ | 578 |  |  | $ | 2,227 |  |  | $ | 2,352 |  |  | $ | 5,157 |
Reconciliation of net sales |  |  |  |  |  |  |
Corporate and Other / Eliminations |  |  |  |  |  |  | (5) |
Consolidated net sales |  |  |  |  |  |  | 5,152 |
Less: (1) |  |  |  |  |  |  |
Cost of goods sold | 480 |  |  | 1,672 |  |  | 1,825 |  |  | 3,977 |
Compensation expense | 22 |  |  | 113 |  |  | 101 |  |  | 236 |
Other segment items (2) | 26 |  |  | 83 |  |  | 105 |  |  | 214 |
Segment operating profit | $ | 50 |  |  | $ | 359 |  |  | $ | 321 |  |  | $ | 730 |
Reconciliation of operating profit |  |  |  |  |  |  |
Corporate and Other / Eliminations |  |  |  |  |  |  | (93) |
Consolidated operating profit |  |  |  |  |  |  | $ | 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, communication & software, staff amenities, and finance expenses. Individually, each of these categories represents an insignificant amount.
| Year Ended December 31,
| 2025 |  | 2024 |  | 2023
Depreciation and amortization |  |  |  |  |
ES | $ | 97 |  |  | $ | 27 |  |  | $ | 6 |
MP | 19 |  |  | 20 |  |  | 16 |
Aerials | 27 |  |  | 25 |  |  | 26 |
Corporate | 14 |  |  | 10 |  |  | 8 |
Total | $ | 157 |  |  | $ | 82 |  |  | $ | 56 |
Capital expenditures |  |  |  |  |
ES | $ | 34 |  |  | $ | 6 |  |  | $ | 11 |
MP | 20 |  |  | 47 |  |  | 38 |
Aerials | 46 |  |  | 70 |  |  | 68 |
Corporate | 18 |  |  | 14 |  |  | 10 |
Total | $ | 118 |  |  | $ | 137 |  |  | $ | 127 |
| December 31,
| 2025 |  | 2024
Identifiable assets |  |  |
ES | $ | 2,755 |  |  | $ | 2,807 |
MP | 1,964 |  |  | 1,885 |
Aerials | 1,739 |  |  | 1,659 |
Corporate and Other / Eliminations | (319) |  |  | (621) |
Total | $ | 6,139 |  |  | $ | 5,730 |
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,
| 2025 |  | 2024
Long-lived Assets |  |  |
U.S. | $ | 357 |  |  | $ | 299 |
United Kingdom | 114 |  |  | 104 |
Mexico | 134 |  |  | 141 |
China | 51 |  |  | 61 |
Other European countries | 63 |  |  | 67 |
All other | 41 |  |  | 42 |
Total | $ | 760 |  |  | $ | 714 |
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, 2025
| ES |  | MP |  | Aerials |  | Corporate and Other / Eliminations |  | Total
Net sales by region |  |  |  |  |  |  |  |  |
North America | $ | 1,670 |  |  | $ | 721 |  |  | $ | 1,525 |  |  | $ | 2 |  |  | $ | 3,918 |
Western Europe | — |  |  | 432 |  |  | 310 |  |  | — |  |  | 742 |
Asia-Pacific | 7 |  |  | 340 |  |  | 107 |  |  | — |  |  | 454 |
Rest of World (1) | 14 |  |  | 188 |  |  | 118 |  |  | (13) |  |  | 307 |
Total (2) | $ | 1,691 |  |  | $ | 1,681 |  |  | $ | 2,060 |  |  | $ | (11) |  |  | $ | 5,421 |
(1) Includes intercompany sales and eliminations. (2) Total sales for all segments in the aggregate include $3.6 billion attributable to the U.S., the Company’s country of domicile.
|  |  | Year Ended December 31, 2024
| ES |  | MP |  | Aerials |  |  |  | Corporate and Other / Eliminations |  | Total
Net sales by region |  |  |  |  |  |  |  |  |  |  |
North America | $ | 808 |  |  | $ | 871 |  |  | $ | 1,682 |  |  |  |  | $ | 6 |  |  | $ | 3,367 |
Western Europe | — |  |  | 468 |  |  | 388 |  |  |  |  | 1 |  |  | 857 |
Asia-Pacific | 7 |  |  | 377 |  |  | 170 |  |  |  |  | 1 |  |  | 555 |
Rest of World (1) | 7 |  |  | 186 |  |  | 170 |  |  |  |  | (15) |  |  | 348 |
Total (2) | $ | 822 |  |  | $ | 1,902 |  |  | $ | 2,410 |  |  |  |  | $ | (7) |  |  | $ | 5,127 |
(1) Includes intercompany sales and eliminations. (2) Total sales for all segments in the aggregate include $3.1 billion attributable to the U.S., the Company’s country of domicile.
|  |  | Year Ended December 31, 2023
| ES |  | MP |  | Aerials |  |  |  | Corporate and Other / Eliminations |  | Total
Net sales by region |  |  |  |  |  |  |  |  |  |  |
North America | $ | 567 |  |  | $ | 974 |  |  | $ | 1,476 |  |  |  |  | $ | 14 |  |  | $ | 3,031 |
Western Europe | — |  |  | 609 |  |  | 434 |  |  |  |  | 1 |  |  | 1,044 |
Asia-Pacific | 7 |  |  | 427 |  |  | 228 |  |  |  |  | — |  |  | 662 |
Rest of World (1) | 4 |  |  | 217 |  |  | 214 |  |  |  |  | (20) |  |  | 415 |
Total (2) | $ | 578 |  |  | $ | 2,227 |  |  | $ | 2,352 |  |  |  |  | $ | (5) |  |  | $ | 5,152 |
(1) Includes intercompany sales and eliminations. (2) Total sales for all segments in the aggregate include $2.8 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, 2025
| ES |  | MP |  | Aerials |  |  |  | Corporate and Other / Eliminations |  | Total
Net sales by product type |  |  |  |  |  |  |  |  |  |  |
Aerials | $ | — |  |  | $ | — |  |  | $ | 1,723 |  |  |  |  | $ | 2 |  |  | $ | 1,725 |
Materials Processing Equipment | — |  |  | 1,075 |  |  | — |  |  |  |  | — |  |  | 1,075 |
Specialty Equipment | — |  |  | 605 |  |  | — |  |  |  |  | — |  |  | 605 |
Environmental Solutions Equipment | 1,589 |  |  | — |  |  | — |  |  |  |  | — |  |  | 1,589 |
Other (1) | 102 |  |  | 1 |  |  | 337 |  |  |  |  | (13) |  |  | 427 |
Total | $ | 1,691 |  |  | $ | 1,681 |  |  | $ | 2,060 |  |  |  |  | $ | (11) |  |  | $ | 5,421 |
(1) Includes other product types, intercompany sales and eliminations.
|  |  | Year Ended December 31, 2024
| ES |  | MP |  | Aerials |  |  |  | Corporate and Other / Eliminations |  | Total
Net sales by product type |  |  |  |  |  |  |  |  |  |  |
Aerials | $ | — |  |  | $ | — |  |  | $ | 2,031 |  |  |  |  | $ | 1 |  |  | $ | 2,032 |
Materials Processing Equipment | — |  |  | 1,238 |  |  | — |  |  |  |  | — |  |  | 1,238 |
Specialty Equipment | — |  |  | 664 |  |  | — |  |  |  |  | — |  |  | 664 |
Environmental Solutions Equipment | 793 |  |  | — |  |  | — |  |  |  |  | — |  |  | 793 |
Other (1) | 29 |  |  | — |  |  | 379 |  |  |  |  | (8) |  |  | 400 |
Total | $ | 822 |  |  | $ | 1,902 |  |  | $ | 2,410 |  |  |  |  | $ | (7) |  |  | $ | 5,127 |
(1) Includes other product types, intercompany sales and eliminations.
|  |  | Year Ended December 31, 2023
| ES |  | MP |  | Aerials |  |  |  | Corporate and Other / Eliminations |  | Total
Net sales by product type |  |  |  |  |  |  |  |  |  |  |
Aerials | $ | — |  |  | $ | — |  |  | $ | 2,034 |  |  |  |  | $ | 3 |  |  | $ | 2,037 |
Materials Processing Equipment | — |  |  | 1,412 |  |  | — |  |  |  |  | — |  |  | 1,412 |
Specialty Equipment | — |  |  | 814 |  |  | — |  |  |  |  | 1 |  |  | 815 |
Environmental Solutions Equipment | 575 |  |  | — |  |  | — |  |  |  |  | — |  |  | 575 |
Other (1) | 3 |  |  | 1 |  |  | 318 |  |  |  |  | (9) |  |  | 313 |
Total | $ | 578 |  |  | $ | 2,227 |  |  | $ | 2,352 |  |  |  |  | $ | (5) |  |  | $ | 5,152 |
(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 -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41 + Details
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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 Reference 1: 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 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41 + Details
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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 Reference 1: 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 2: 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 3: 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
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