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Inventories (Tables)
 12 Months Ended
Dec. 31, 2016
Inventory Disclosure [Abstract]  
Schedule of the Components of Inventories
The components of inventories at December 31, 2016 and December 31, 2015 are summarized as follows:
(in millions)
 
2016
 
2015
Raw materials
 
$
109.3

 
$
155.3

Work-in-process
 
88.4

 
116.3

Finished goods
 
270.9

 
251.7

Total inventories — gross
 
468.6

 
523.3

Excess and obsolete inventory reserve
 
(39.6
)
 
(34.1
)
Net inventories
 
$
429.0

 
$
489.2
Schedule of Retrospective Adjustment for Change in Inventory
As a result of the retrospective adjustment of the change in accounting principle, certain amounts in the Company's consolidated financial statements for the years ended December 31, 2015 and 2014 were adjusted as follows:
For the years ended December 31,
 
 
 
2015
 
 
 
 
 
2014
 
 
 
 
Impact of Change
 
Impact of Change
In millions (except per share data)
 
Historical
 
to FIFO
 
As adjusted
 
Historical
 
to FIFO
 
As adjusted
Cost of sales
 
$
1,537.0

 
$
(3.5
)
 
$
1,533.5

 
$
1,837.6

 
$
0.4

 
$
1,838.0

Operating (loss) income
 
(15.9
)
 
3.5

 
(12.4
)
 
107.5

 
(0.4
)
 
107.1

Loss from continuing operations before taxes
 
(114.5
)
 
3.5

 
(111.0
)
 
(20.0
)
 
(0.4
)
 
(20.4
)
Benefit for income taxes
 
(42.6
)
 
1.5

 
(41.1
)
 
(18.0
)
 
0.2

 
(17.8
)
Loss from continuing operations
 
(71.9
)
 
2.0

 
(69.9
)
 
(2.0
)
 
(0.6
)
 
(2.6
)
Net (loss) income
 
63.5

 
2.0

 
65.5

 
148.4

 
(0.6
)
 
147.8

Net (loss) income attributable to Manitowoc common shareholders
 
63.5

 
2.0

 
65.5

 
144.5

 
(0.6
)
 
143.9

Basic (loss) income per share from continuing operations
 
(0.53
)
 
0.02

 
(0.51
)
 
(0.04
)
 
(0.01
)
 
(0.05
)
Diluted (loss) income per share from continuing operations
 
(0.53
)
 
0.02

 
(0.51
)
 
(0.04
)
 
(0.01
)
 
(0.05
)
The Consolidated Balance Sheet for the year ended December 31, 2015 was adjusted as follows:
 
 
Impact of Change
In millions
 
Historical
 
to FIFO
 
As adjusted
Inventories
 
$
452.6

 
$
36.6

 
$
489.2

Other non-current assets
 
191.2

 
(13.8
)
 
177.4

Retained earnings
 
539.5

 
22.8

 
562.3

The Consolidated Statements of Cash Flows for the years ended December 31, 2015 and 2014 were adjusted as follows:
For the years ended December 31,
 
 
 
2015
 
 
 
 
 
2014
 
 
 
 
Impact of Change
 
Impact of Change
In millions
 
Historical
 
to FIFO
 
As adjusted
 
Historical
 
to FIFO
 
As adjusted
Net (loss) income
 
$
63.5

 
$
2.0

 
$
65.5

 
$
148.4

 
$
(0.6
)
 
$
147.8

Deferred income taxes
 
(5.9
)
 
1.5

 
(4.4
)
 
11.3

 
0.2

 
11.5

Change in inventories, net
 
(3.7
)
 
(3.5
)
 
(7.2
)
 
32.2

 
0.4

 
32.6