Revenue Recognition (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2017 |
Revenue, Practical Expedient, Incremental Cost of Obtaining Contract [true/false] | | | true | | |
Revenue, Information Used to Assess Variable Consideration Constraint | | | The Company also records variable consideration in the form of estimated reductions to revenues for customer programs and incentive offerings, including special pricing agreements, promotions and other volume-based incentives. Lift truck sales revenue is recorded net of estimated discounts. The estimated discount amount is based upon historical experience and trend analysis for each lift truck model. In addition to standard discounts, dealers can also request additional discounts that allow them to offer price concessions to customers. From time to time, the Company offers special incentives to increase market share or dealer stock and offers certain customers volume rebates if a specified cumulative level of purchases is obtained. | | |
Revenue, Performance Obligation Satisfied at Point in Time, Transfer of Control | | | The majority of the Company's sales contracts contain performance obligations satisfied at a point in time when title and risks and rewards of ownership have transferred to the customer. Revenue for service contracts are recognized as the services are provided. Dealer sales are recognized when the Company transfers control based on the shipping terms of the contract, which is generally when the truck is shipped from the manufacturing facility to the dealers. The majority of direct customer sales are to National Account customers. In these transactions, the Company transfers control and recognizes revenue when it delivers the product to the customer according to the terms of the contract. Bolzoni revenue is primarily the sale of attachments to customers. In these transactions, the Company transfers control and recognizes revenue according to the shipping terms of the contract. | | |
Revenue, Performance Obligation, Description of Returns and Other Similar Obligations | | | When customers are given the right to return eligible parts and accessories, the Company estimates the expected returns based on an analysis of historical experience. The Company adjusts estimated revenues at the earlier of when the most likely amount of consideration expected to be received changes or when the consideration becomes fixed. | | |
Accounts receivable, net | $ 424.7 | | $ 424.7 | | $ 453 |
Inventories, net | (467.1) | | (467.1) | | (411.9) |
Prepaid expenses and other | (56.4) | | (56.4) | | (46.4) |
Other current liabilities | (169) | | (169) | | (162.3) |
Retained earnings | 403.4 | | 403.4 | | 389.1 |
Revenues | 765.6 | $ 685.5 | 1,553.8 | $ 1,398.6 | |
Cost of sales | 639.4 | 563.8 | 1,295.5 | 1,150.8 | |
Gross Profit | 126.2 | 121.7 | 258.3 | 247.8 | |
Operating Profit | 10.8 | 17.5 | 30 | 40.1 | |
Income Before Income Taxes | 9.5 | 18.3 | 29.3 | 42.6 | |
Income tax provision | 3.8 | 1.9 | 8.7 | 8.1 | |
Net Income Attributable to Stockholders | 5.6 | 16.4 | 20.5 | 34.5 | |
Revenue from Contract with Customer, Excluding Assessed Tax | 0 | | 0 | | |
Deferred Revenue | 49 | | 49 | | 51.6 |
Deferred Revenue, Additions | | | 20.6 | | |
Deferred Revenue, Revenue Recognized | | | (23.2) | | |
Deferred Revenue, Period Increase (Decrease) | | | $ 0 | | |
Revenue, Performance Obligation Satisfied over Time, Method Used, Description | | | Aftermarket sales represent part sales, extended warranty and maintenance services. For the sale of aftermarket parts, the Company transfers control and recognizes revenue when parts are shipped to the customer. The Company recognizes revenue for extended warranty and maintenance agreements based on the standalone selling price over the life of the contract, which reflects the costs to perform under these contracts, which corresponds with, and thereby depicts the transfer of control to the customer. | | |
Americas [Member] | | | | | |
Revenues | 471.6 | 432.9 | $ 967.5 | 898.9 | |
Gross Profit | 79.1 | 82.7 | 164.9 | 167.6 | |
Operating Profit | 18 | 27.7 | 45.9 | 57.3 | |
Net Income Attributable to Stockholders | 10.2 | 23.8 | 30.6 | 44.3 | |
EMEA [Member] | | | | | |
Revenues | 191 | 172.6 | 388.9 | 335 | |
Gross Profit | 25.1 | 23.6 | 50.9 | 46.1 | |
Operating Profit | 1.4 | 2.3 | 2.3 | 3.2 | |
Net Income Attributable to Stockholders | 1.3 | 2.2 | 2.3 | 3.3 | |
JAPIC [Member] | | | | | |
Revenues | 57.5 | 42.2 | 107 | 86 | |
Gross Profit | 6.1 | 4.2 | 10.6 | 9.7 | |
Operating Profit | (2.1) | (2.2) | (4.3) | (2.9) | |
Net Income Attributable to Stockholders | (0.5) | (2.2) | (1.2) | (1.5) | |
Bolzoni [Member] | | | | | |
Revenues | 52.5 | 41.9 | 103.7 | 83.5 | |
Gross Profit | 16.8 | 12.4 | 33.8 | 26.2 | |
Operating Profit | 3.2 | 0.5 | 5.9 | 2.8 | |
Net Income Attributable to Stockholders | 2.1 | (0.1) | 4 | 1.4 | |
Nuvera [Member] | | | | | |
Revenues | 0.4 | 0.4 | 0.7 | 3 | |
Gross Profit | (0.7) | (0.9) | (1.6) | (1.5) | |
Operating Profit | (9.5) | (10.5) | (19.5) | (20) | |
Net Income Attributable to Stockholders | (6.9) | (6.3) | (14.2) | (12) | |
Consolidation, Eliminations [Member] | | | | | |
Revenues | (7.4) | (4.5) | (14) | (7.8) | |
Gross Profit | (0.2) | (0.3) | (0.3) | (0.3) | |
Operating Profit | (0.2) | (0.3) | (0.3) | (0.3) | |
Net Income Attributable to Stockholders | (0.6) | $ (1) | (1) | $ (1) | |
Other revenue [Member] | | | | | |
Revenue from Contract with Customer, Excluding Assessed Tax | 74.4 | | 148.2 | | |
Other revenue [Member] | Americas [Member] | | | | | |
Revenue from Contract with Customer, Excluding Assessed Tax | 24.9 | | 49.6 | | |
Other revenue [Member] | EMEA [Member] | | | | | |
Revenue from Contract with Customer, Excluding Assessed Tax | 3.6 | | 7.5 | | |
Other revenue [Member] | JAPIC [Member] | | | | | |
Revenue from Contract with Customer, Excluding Assessed Tax | 0.4 | | 0.7 | | |
Other revenue [Member] | Bolzoni [Member] | | | | | |
Revenue from Contract with Customer, Excluding Assessed Tax | 52.5 | | 103.7 | | |
Other revenue [Member] | Nuvera [Member] | | | | | |
Revenue from Contract with Customer, Excluding Assessed Tax | 0.4 | | 0.7 | | |
Other revenue [Member] | Consolidation, Eliminations [Member] | | | | | |
Revenue from Contract with Customer, Excluding Assessed Tax | (7.4) | | (14) | | |
Aftermarket sales [Member] | | | | | |
Revenue from Contract with Customer, Excluding Assessed Tax | 127.6 | | 251.4 | | |
Aftermarket sales [Member] | Americas [Member] | | | | | |
Revenue from Contract with Customer, Excluding Assessed Tax | 91.7 | | 179.3 | | |
Aftermarket sales [Member] | EMEA [Member] | | | | | |
Revenue from Contract with Customer, Excluding Assessed Tax | 26.7 | | 53.7 | | |
Aftermarket sales [Member] | JAPIC [Member] | | | | | |
Revenue from Contract with Customer, Excluding Assessed Tax | 9.2 | | 18.4 | | |
Aftermarket sales [Member] | Bolzoni [Member] | | | | | |
Revenue from Contract with Customer, Excluding Assessed Tax | 0 | | 0 | | |
Aftermarket sales [Member] | Nuvera [Member] | | | | | |
Revenue from Contract with Customer, Excluding Assessed Tax | 0 | | 0 | | |
Sales Channel, Directly to Consumer [Member] | | | | | |
Revenue from Contract with Customer, Excluding Assessed Tax | 75.6 | | 159 | | |
Sales Channel, Directly to Consumer [Member] | Americas [Member] | | | | | |
Revenue from Contract with Customer, Excluding Assessed Tax | 74.4 | | 156.1 | | |
Sales Channel, Directly to Consumer [Member] | EMEA [Member] | | | | | |
Revenue from Contract with Customer, Excluding Assessed Tax | 1.2 | | 2.9 | | |
Sales Channel, Directly to Consumer [Member] | JAPIC [Member] | | | | | |
Revenue from Contract with Customer, Excluding Assessed Tax | 0 | | 0 | | |
Sales Channel, Directly to Consumer [Member] | Bolzoni [Member] | | | | | |
Revenue from Contract with Customer, Excluding Assessed Tax | 0 | | 0 | | |
Sales Channel, Directly to Consumer [Member] | Nuvera [Member] | | | | | |
Revenue from Contract with Customer, Excluding Assessed Tax | 0 | | 0 | | |
Sales Channel, Directly to Consumer [Member] | Consolidation, Eliminations [Member] | | | | | |
Revenue from Contract with Customer, Excluding Assessed Tax | 0 | | 0 | | |
Sales Channel, Through Intermediary [Member] | | | | | |
Revenue from Contract with Customer, Excluding Assessed Tax | 488 | | 995.2 | | |
Sales Channel, Through Intermediary [Member] | Americas [Member] | | | | | |
Revenue from Contract with Customer, Excluding Assessed Tax | 280.6 | | 582.5 | | |
Sales Channel, Through Intermediary [Member] | EMEA [Member] | | | | | |
Revenue from Contract with Customer, Excluding Assessed Tax | 159.5 | | 324.8 | | |
Sales Channel, Through Intermediary [Member] | JAPIC [Member] | | | | | |
Revenue from Contract with Customer, Excluding Assessed Tax | 47.9 | | 87.9 | | |
Sales Channel, Through Intermediary [Member] | Bolzoni [Member] | | | | | |
Revenue from Contract with Customer, Excluding Assessed Tax | 0 | | 0 | | |
Sales Channel, Through Intermediary [Member] | Nuvera [Member] | | | | | |
Revenue from Contract with Customer, Excluding Assessed Tax | 0 | | 0 | | |
Sales Channel, Through Intermediary [Member] | Consolidation, Eliminations [Member] | | | | | |
Revenue from Contract with Customer, Excluding Assessed Tax | 0 | | 0 | | |
Calculated under Revenue Guidance in Effect before Topic 606 [Member] | | | | | |
Accounts receivable, net | 424.4 | | 424.4 | | |
Inventories, net | (467.4) | | (467.4) | | |
Prepaid expenses and other | (56.6) | | (56.6) | | |
Other current liabilities | (169.5) | | (169.5) | | |
Retained earnings | 403.5 | | 403.5 | | |
Revenues | 765.5 | | 1,553.4 | | |
Cost of sales | 639.3 | | 1,295.1 | | |
Gross Profit | 126.2 | | 258.3 | | |
Operating Profit | 10.8 | | 30 | | |
Income Before Income Taxes | 9.5 | | 29.3 | | |
Income tax provision | 3.8 | | 8.7 | | |
Net Income Attributable to Stockholders | 5.6 | | 20.5 | | |
Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | | | | | |
Accounts receivable, net | 0.3 | | 0.3 | | 0.5 |
Inventories, net | (0.3) | | (0.3) | | (0.3) |
Prepaid expenses and other | (0.2) | | (0.2) | | (1.1) |
Other current liabilities | (0.5) | | (0.5) | | (1) |
Retained earnings | (0.1) | | (0.1) | | 0.3 |
Revenues | 0.1 | | 0.4 | | |
Cost of sales | 0.1 | | 0.4 | | |
Gross Profit | 0 | | 0 | | |
Operating Profit | 0 | | 0 | | |
Income Before Income Taxes | 0 | | 0 | | |
Income tax provision | 0 | | 0 | | |
Net Income Attributable to Stockholders | $ 0 | | $ 0 | | |
Accounting Standards Update 2014-09 [Member] | | | | | |
Accounts receivable, net | | | | | 453.5 |
Inventories, net | | | | | (411.6) |
Prepaid expenses and other | | | | | (47.5) |
Other current liabilities | | | | | (163.3) |
Retained earnings | | | | | $ 389.4 |