XML 66 R52.htm IDEA: XBRL DOCUMENT
v3.10.0.1

Employee Benefit Plans (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2018
Compensation And Retirement Disclosure [Abstract] |
Schedule of components of period benefit costs | The components of periodic benefit costs for the years ended December 31, 2018, 2017 and 2016 are as follows:
|  | US Pension Plans |  |  | Non-US Pension Plans |  |  | Postretirement Medical and Other |
|  | 2018 |  |  | 2017 |  |  | 2016 |  |  | 2018 |  |  | 2017 |  |  | 2016 |  |  | 2018 |  |  | 2017 |  |  | 2016 |
Service cost - benefits earned during the year |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 1.8 |  |  | $ | 1.9 |  |  | $ | 1.7 |  |  | $ | 0.2 |  |  | $ | 0.3 |  |  | $ | 0.3 |
Interest cost of projected benefit obligation |  |  | 5.2 |  |  |  | 5.3 |  |  |  | 6.8 |  |  |  | 2.1 |  |  |  | 2.1 |  |  |  | 2.5 |  |  |  | 0.8 |  |  |  | 1.0 |  |  |  | 1.7 |
Expected return on assets |  |  | (5.7 | ) |  |  | (4.9 | ) |  |  | (5.7 | ) |  |  | (1.4 | ) |  |  | (1.5 | ) |  |  | (1.8 | ) |  |  | — |  |  |  | — |  |  |  | — |
Amortization of prior service cost |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 0.1 |  |  |  | 0.1 |  |  |  | 0.1 |  |  |  | (2.8 | ) |  |  | (1.4 | ) |  |  | — |
Amortization of actuarial net loss (gain) |  |  | 2.9 |  |  |  | 3.2 |  |  |  | 3.6 |  |  |  | 1.3 |  |  |  | 1.6 |  |  |  | 1.0 |  |  |  | 0.8 |  |  |  | 0.4 |  |  |  | — |
Pension settlement charge |  |  | 4.5 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Net periodic benefit cost |  | $ | 6.9 |  |  | $ | 3.6 |  |  | $ | 4.7 |  |  | $ | 3.9 |  |  | $ | 4.2 |  |  | $ | 3.5 |  |  | $ | (1.0 | ) |  | $ | 0.3 |  |  | $ | 2.0 |
Weighted average assumptions: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Discount rate |  |  | 3.8 | % |  |  | 4.2 | % |  |  | 4.5 | % |  |  | 2.2 | % |  |  | 2.1 | % |  |  | 2.9 | % |  |  | 3.3 | % |  |  | 3.8 | % |  |  | 4.2 | %
Expected return on plan assets |  |  | 5.3 | % |  |  | 4.7 | % |  |  | 5.5 | % |  |  | 2.7 | % |  |  | 3.4 | % |  |  | 4.0 | % |  | N/A |  |  | N/A |  |  | N/A |
Rate of compensation increase |  | N/A |  |  | N/A |  |  | N/A |  |  |  | 3.5 | % |  |  | 2.6 | % |  |  | 2.4 | % |  | N/A |  |  | N/A |  |  | N/A |
Reconciliation of the Changes in Benefit Obligation, the Changes in Plan Assets, and the Funded Status | The following is a reconciliation of the changes in benefit obligation, plan assets, and funded status as of December 31, 2018 and 2017:
|  | US Pension Plans |  |  | Non-US Pension Plans |  |  | Postretirement Medical and Other |
|  | 2018 |  |  | 2017 |  |  | 2018 |  |  | 2017 |  |  | 2018 |  |  | 2017 |
Change in Benefit Obligation |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Benefit obligation, beginning of year |  | $ | 162.3 |  |  | $ | 155.6 |  |  | $ | 89.5 |  |  | $ | 82.8 |  |  | $ | 28.9 |  |  | $ | 41.6 |
Service cost |  |  | — |  |  |  | — |  |  |  | 1.8 |  |  |  | 1.9 |  |  |  | 0.2 |  |  |  | 0.3 |
Interest cost |  |  | 5.2 |  |  |  | 5.3 |  |  |  | 2.1 |  |  |  | 2.1 |  |  |  | 0.8 |  |  |  | 1.0 |
Participant contributions |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 0.7 |  |  |  | 1.4 |
Plan amendments |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (13.8 | )
Actuarial (gain) loss |  |  | (9.2 | ) |  |  | 10.0 |  |  |  | (3.0 | ) |  |  | (2.2 | ) |  |  | (7.2 | ) |  |  | 2.9 |
Currency translation adjustment |  |  | — |  |  |  | — |  |  |  | (4.6 | ) |  |  | 9.2 |  |  |  | — |  |  |  | — |
Pension settlement |  |  | (18.9 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Benefits paid |  |  | (8.8 | ) |  |  | (8.6 | ) |  |  | (3.9 | ) |  |  | (4.3 | ) |  |  | (2.7 | ) |  |  | (4.5 | )
Benefit obligation, end of year |  | $ | 130.5 |  |  | $ | 162.3 |  |  | $ | 81.9 |  |  | $ | 89.5 |  |  | $ | 20.7 |  |  | $ | 28.9 |
Change in Plan Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fair value of plan assets, beginning of year |  | $ | 116.2 |  |  | $ | 108.6 |  |  | $ | 45.1 |  |  | $ | 41.8 |  |  | $ | — |  |  | $ | — |
Actual return on plan assets |  |  | (8.9 | ) |  |  | 11.5 |  |  |  | (1.4 | ) |  |  | 1.1 |  |  |  | — |  |  |  | — |
Employer contributions |  |  | 5.3 |  |  |  | 4.7 |  |  |  | 2.8 |  |  |  | 2.1 |  |  |  | 2.0 |  |  |  | 3.1 |
Participant contributions |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 0.7 |  |  |  | 1.4 |
Currency translation adjustment |  |  | — |  |  |  | — |  |  |  | (2.5 | ) |  |  | 4.4 |  |  |  | — |  |  |  | — |
Pension settlement |  |  | (18.9 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Benefits paid |  |  | (8.8 | ) |  |  | (8.6 | ) |  |  | (3.9 | ) |  |  | (4.3 | ) |  |  | (2.7 | ) |  |  | (4.5 | )
Fair value of plan assets, end of year |  |  | 84.9 |  |  |  | 116.2 |  |  |  | 40.1 |  |  |  | 45.1 |  |  |  | — |  |  |  | — |
Funded status |  | $ | (45.6 | ) |  | $ | (46.1 | ) |  | $ | (41.8 | ) |  | $ | (44.4 | ) |  | $ | (20.7 | ) |  | $ | (28.9 | )
Amounts recognized in the Consolidated Balance sheet at December 31 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pension asset |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Pension obligation |  |  | (45.6 | ) |  |  | (46.1 | ) |  |  | (41.8 | ) |  |  | (44.4 | ) |  |  | — |  |  |  | — |
Postretirement medical and other benefit obligations |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (20.7 | ) |  |  | (28.9 | )
Net amount recognized |  | $ | (45.6 | ) |  | $ | (46.1 | ) |  | $ | (41.8 | ) |  | $ | (44.4 | ) |  | $ | (20.7 | ) |  | $ | (28.9 | )
Weighted-Average Assumptions |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Discount rate |  |  | 4.3 | % |  |  | 3.6 | % |  |  | 2.2 | % |  |  | 2.2 | % |  |  | 4.1 | % |  |  | 3.3 | %
Expected return on plan assets |  |  | 5.3 | % |  |  | 4.7 | % |  |  | 2.7 | % |  |  | 3.4 | % |  | N/A |  |  | N/A |
Rate of compensation increase |  | N/A |  |  | N/A |  |  |  | 3.5 | % |  |  | 2.6 | % |  | N/A |  |  | N/A |
Amounts Recognized in Accumulated Other Comprehensive Loss | Amounts recognized in accumulated other comprehensive loss as of December 31, 2018 and 2017, consist of the following:
|  | Pensions |  |  | Postretirement Medical and Other |
|  | 2018 |  |  | 2017 |  |  | 2018 |  |  | 2017 |
Net actuarial gain (loss) |  | $ | (59.3 | ) |  | $ | (64.2 | ) |  | $ | 0.4 |  |  | $ | (7.6 | )
Prior service credit |  |  | (0.5 | ) |  |  | (0.6 | ) |  |  | 9.7 |  |  |  | 12.5 |
Total amount recognized |  | $ | (59.8 | ) |  | $ | (64.8 | ) |  | $ | 10.1 |  |  | $ | 4.9 |
Summary of the Sensitivity of Retirement Obligations and Retirement Benefit Costs of Plans to Changes in the Key Assumptions | The following table summarizes the sensitivity of our December 31, 2018 retirement obligations and 2018 retirement benefit costs of our plans to changes in the key assumptions used to determine those results:
Change in assumption: |  | Estimated increase (decrease) in 2019 pension cost |  |  | Estimated increase (decrease) in Projected Benefit Obligation for the year ended December 31, 2018 |  |  | Estimated increase (decrease) in 2019 Other Postretirement Benefit costs |  |  | Estimated increase (decrease) in Other Postretirement Benefit Obligation for the year ended December 31, 2018 |
0.50% increase in discount rate |  | $ | (0.8 | ) |  | $ | (12.5 | ) |  | $ | 0.1 |  |  | $ | (0.6 | )
0.50% decrease in discount rate |  |  | 0.9 |  |  |  | 13.7 |  |  |  | (0.1 | ) |  |  | 0.7 |
0.50% increase in long-term return on assets |  |  | (0.6 | ) |  | N/A |  |  | N/A |  |  | N/A |
0.50% decrease in long-term return on assets |  |  | 0.6 |  |  | N/A |  |  | N/A |  |  | N/A |
Schedule of the Weighted-Average Asset Allocations of the Pension Plans | The weighted-average asset allocations of the U.S. pension plans at December 31, 2018 and 2017, by asset category are as follows:
|  | 2018 |  |  | 2017 |
Equity |  |  | 47.8 | % |  |  | 48.0 | %
Fixed income |  |  | 51.4 | % |  |  | 48.3 | %
Other |  |  | 0.8 | % |  |  | 3.7 | %
Total |  |  | 100.0 | % |  |  | 100.0 | %
The weighted-average asset allocations of the Non-U.S. pension plans at December 31, 2018 and 2017, by asset category are as follows:
|  | 2018 |  |  | 2017 |
Equity |  |  | 36.1 | % |  |  | 35.6 | %
Fixed income |  |  | 31.6 | % |  |  | 31.6 | %
Other |  |  | 32.3 | % |  |  | 32.8 | %
Total |  |  | 100.0 | % |  |  | 100.0 | %
Schedule of the Actual Allocations for the Pension Assets and Target Allocations by Asset Class | The actual allocations for the pension assets at December 31, 2018, and target allocations by asset class, are as follows:
|  | Target Allocations |  | Weighted Average Asset Allocations |
|  | U.S. Plans |  |  | International Plans |  | U.S. Plans |  |  | International Plans |
Equity Securities |  |  | 50 | % |  | 0 - 25% |  |  | 47.8 | % |  |  | 36.1 | %
Debt Securities |  |  | 50 | % |  | 0 - 100% |  |  | 51.4 | % |  |  | 31.6 | %
Other |  |  | — | % |  | 0 - 100% |  |  | 0.8 | % |  |  | 32.3 | %
Schedule of Plan Assets Using the Fair Value Hierarchy | The following table presents our plan assets using the fair value hierarchy as of December 31, 2018 and 2017. The fair value hierarchy has three levels based on the reliability of the inputs used to determine fair value. Level 1 refers to fair values determined based on quoted prices in active markets for identical assets. Level 2 refers to fair values estimated using significant other observable inputs, and Level 3 includes fair values estimated using significant non-observable inputs.
|  | December 31, 2018 |
Assets |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Unobservable Inputs (Level 3) |  |  | Net Asset Value ("NAV") |  |  | Total |
Cash |  | $ | 1.7 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 1.7 |
Insurance group annuity contracts |  |  | — |  |  |  | — |  |  |  | 12.0 |  |  |  | — |  |  |  | 12.0 |
Common/collective trust funds — Government, corporate and other non-government debt |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 56.3 |  |  |  | 56.3 |
Common/collective trust funds — Corporate equity |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 55.1 |  |  |  | 55.1 |
Total |  | $ | 1.7 |  |  | $ | — |  |  | $ | 12.0 |  |  | $ | 111.4 |  |  | $ | 125.1 |
|  | December 31, 2017 |
Assets |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Unobservable Inputs (Level 3) |  |  | Net Asset Value ("NAV") |  |  | Total |
Cash |  | $ | 4.7 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 4.7 |
Insurance group annuity contracts |  |  | — |  |  |  | — |  |  |  | 14.4 |  |  |  | — |  |  |  | 14.4 |
Common/collective trust funds — Government, corporate and other non-government debt |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 70.4 |  |  |  | 70.4 |
Common/collective trust funds — Corporate equity |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 71.8 |  |  |  | 71.8 |
Total |  | $ | 4.7 |  |  | $ | — |  |  | $ | 14.4 |  |  | $ | 142.2 |  |  | $ | 161.3 |
Reconciliation of the Fair Values Measurements of Plan Assets Using Significant Unobservable Inputs (Level 3) from the Beginning of the Year to the End of the Year | A reconciliation of the fair value measurements of plan assets using significant unobservable inputs (Level 3) from the beginning of the year to the end of the year is as follows:
|  | Insurance Contracts Year Ended December 31, |
|  | 2018 |  |  | 2017 |
Beginning Balance |  | $ | 14.4 |  |  | $ | 14.5 |
Actual return on assets |  |  | (0.3 | ) |  |  | — |
Benefit payments |  |  | (1.3 | ) |  |  | (1.5 | )
Foreign currency impact |  |  | (0.8 | ) |  |  | 1.3 |
Ending Balance |  | $ | 12.0 |  |  | $ | 14.4 |
Schedule of Projected Benefit Payments from the Plans | Projected benefit payments from the plans as of December 31, 2018 are estimated as follows:
|  | U.S Pension Plans |  |  | Non-U.S. Pension Plans |  |  | Postretirement Medical and Other |
2019 |  | $ | 8.3 |  |  | $ | 3.0 |  |  | $ | 2.5 |
2020 |  |  | 8.6 |  |  |  | 2.7 |  |  |  | 2.4 |
2021 |  |  | 8.7 |  |  |  | 3.1 |  |  |  | 2.4 |
2022 |  |  | 8.8 |  |  |  | 3.5 |  |  |  | 2.1 |
2023 |  |  | 8.8 |  |  |  | 3.6 |  |  |  | 2.0 |
Thereafter |  |  | 43.5 |  |  |  | 20.6 |  |  |  | 7.4 |
Total |  |  | 86.7 |  |  |  | 36.5 |  |  |  | 18.8 |
Schedule of Fair Value of Plan Assets for which the Accumulated Benefit Obligation is in Excess of Plan Assets | The fair value of plan assets for which the accumulated benefit obligation is in excess of the plan assets as of December 31, 2018 and 2017 is as follows:
|  | U.S Pension Plans |  |  | Non U.S. Pension Plans |
|  | 2018 |  |  | 2017 |  |  | 2018 |  |  | 2017 |
Projected benefit obligation |  | $ | 130.5 |  |  | $ | 162.3 |  |  | $ | 81.9 |  |  | $ | 85.6 |
Accumulated benefit obligation |  |  | 130.5 |  |  |  | 162.3 |  |  |  | 78.1 |  |  |  | 82.1 |
Fair value of plan assets |  |  | 84.9 |  |  |  | 116.2 |  |  |  | 40.1 |  |  |  | 41.6 |

X
- Definition Tabular disclosure of the actual allocation of plan assets and target allocations by asset class. + References No definition available. + Details
Name: | mtw_ScheduleOfActualAndTargetAllocationOfPlanAssetsTableTextBlock
Namespace Prefix: | mtw_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the effect of percentage-point increase and the effect of percentage-point decrease in the assumptions on the retirement benefit costs and the retirement benefit obligation. + References No definition available. + Details
Name: | mtw_ScheduleOfEffectOfPercentagePointChangeInAssumptionsTableTextBlock
Namespace Prefix: | mtw_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of net funded status, amounts that are recognized in the balance sheet and the weighted average assumptions used to determine the benefit obligation of pension plans and/or other employee benefit plans. + References No definition available. + Details
Name: | mtw_ScheduleOfNetFundedStatusAndAmountsRecognizedInBalanceSheetAndAssumptionsTableTextBlock
Namespace Prefix: | mtw_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the weighted-average asset allocation of plan assets by asset category. + References No definition available. + Details
Name: | mtw_ScheduleOfWeightedAverageAllocationOfPlanAssetsTableTextBlock
Namespace Prefix: | mtw_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_CompensationAndRetirementDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of accumulated benefit obligations and fair values of plan assets of pension plans and/or other employee benefit plans where the accumulated benefit obligation exceeds the fair value of plan assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 3 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=108410482&loc=d3e2417-114920 + Details
Name: | us-gaap_ScheduleOfAccumulatedBenefitObligationsInExcessOfFairValueOfPlanAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the major categories of plan assets of pension plans and/or other employee benefit plans. This information may include, but is not limited to, the target allocation of plan assets, the fair value of each major category of plan assets, and the level within the fair value hierarchy in which the fair value measurements fall. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (d)(5) -URI http://asc.fasb.org/extlink&oid=108410482&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfAllocationOfPlanAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the effect of fair value measurements using significant unobservable inputs (Level 3) on changes in plan assets of pension plans and/or other employee benefit plans for the period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (d)(4) -URI http://asc.fasb.org/extlink&oid=108410482&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfEffectOfSignificantUnobservableInputsChangesInPlanAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of benefits expected to be paid by pension plans and/or other employee benefit plans in each of the next five fiscal years and in the aggregate for the five fiscal years thereafter. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=108410482&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfExpectedBenefitPaymentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (h) -URI http://asc.fasb.org/extlink&oid=108410482&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfNetBenefitCostsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the amounts related to pension plans and/or other employee benefit plans in accumulated other comprehensive income or loss that have not yet been recognized as components of net periodic benefit cost, such as the net gain (loss), net prior service cost or credit, and net transition asset or obligation. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (j) -URI http://asc.fasb.org/extlink&oid=108410482&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfNetPeriodicBenefitCostNotYetRecognizedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration