v3.25.4

BUSINESS SEGMENT INFORMATION (Tables)

12 Months Ended

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)
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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
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(1))
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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 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

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-SubTopic 10
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

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