XML 50 R40.htm IDEA: XBRL DOCUMENT
v3.23.2

SEGMENT INFORMATION (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2023
Segment Reporting Information [Line Items] |
Reconciliation of Revenue from Segments to Consolidated [Table Text Block] | The table below presents information about certain operating results, separated by market segments, for the three and six months ended June 30, 2023 and 2022 (amounts in thousands):
| Three months ended |  | Six months ended
| June 30, |  | June 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Net sales |  |  |  |  |  |  |
Agricultural | $ | 269,148 |  |  | $ | 318,585 |  |  | $ | 575,006 |  |  | $ | 628,184 |
Earthmoving/construction | 174,683 |  |  | 210,370 |  |  | 373,607 |  |  | 411,629 |
Consumer | 37,345 |  |  | 43,940 |  |  | 81,207 |  |  | 89,079 |
| $ | 481,176 |  |  | $ | 572,895 |  |  | $ | 1,029,820 |  |  | $ | 1,128,892 |
Gross profit |  |  |  |  |  |  |
Agricultural | $ | 48,736 |  |  | $ | 61,921 |  |  | $ | 97,986 |  |  | $ | 109,845 |
Earthmoving/construction | 29,102 |  |  | 36,317 |  |  | 66,326 |  |  | 67,692 |
Consumer | 8,057 |  |  | 11,415 |  |  | 17,140 |  |  | 18,845 |
| $ | 85,895 |  |  | $ | 109,653 |  |  | $ | 181,452 |  |  | $ | 196,382 |
Income from operations |  |  |  |  |  |  |
Agricultural | $ | 32,119 |  |  | $ | 44,884 |  |  | $ | 64,688 |  |  | $ | 75,001 |
Earthmoving/construction | 14,522 |  |  | 22,276 |  |  | 38,060 |  |  | 38,116 |
Consumer | 5,865 |  |  | 9,238 |  |  | 12,657 |  |  | 14,120 |
Corporate & Unallocated | (6,608) |  |  | (6,697) |  |  | (14,371) |  |  | (12,828) |
Income from operations | $ | 45,898 |  |  | $ | 69,701 |  |  | $ | 101,034 |  |  | $ | 114,409 |
Interest expense | (5,762) |  |  | (7,707) |  |  | (12,254) |  |  | (15,614) |
Foreign exchange gain (loss) | 2 |  |  | 2,234 |  |  | (1,758) |  |  | 7,551 |
Other income | 1,186 |  |  | 23,694 |  |  | 1,948 |  |  | 14,835 |
Income before income taxes | $ | 41,324 |  |  | $ | 87,922 |  |  | $ | 88,970 |  |  | $ | 121,181 |
Reconciliation of Assets from Segment to Consolidated [Table Text Block] | Assets by segment were as follows as of the dates set forth below (amounts in thousands):
| June 30, 2023 |  | December 31, 2022
Total assets |  |  |
Agricultural | $ | 576,182 |  |  | $ | 548,523 |
Earthmoving/construction | 524,640 |  |  | 538,064 |
Consumer | 136,811 |  |  | 133,213 |
Corporate & Unallocated | 67,518 |  |  | 64,830 |
| $ | 1,305,151 |  |  | $ | 1,284,630 |

X
- Definition Tabular disclosure of all significant reconciling items in the reconciliation of total assets from reportable segments to the entity's consolidated assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599 + Details
Name: | us-gaap_ReconciliationOfAssetsFromSegmentToConsolidatedTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of all significant reconciling items in the reconciliation of total revenues from reportable segments to the entity's consolidated revenues. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599 + Details
Name: | us-gaap_ReconciliationOfRevenueFromSegmentsToConsolidatedTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details
Name: | us-gaap_SegmentReportingInformationLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration