The Manitowoc Company, Inc. (MTW) 10-Q 8 May 20 2020 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	3 Months Ended
	Mar. 31, 2020shares
Cover [Abstract]
Entity Registrant Name	The Manitowoc Company, Inc.
Entity Central Index Key	0000061986
Trading Symbol	MTW
Document Type	10-Q
Document Period End Date	Mar. 31, 2020
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Shares Outstanding	34,508,504
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Entity File Number	1-11978
Entity Tax Identification Number	39-0448110
Entity Address, Address Line One	11270 West Park Place
Entity Address, Address Line Two	Suite 1000
Entity Address, City or Town	Milwaukee
Entity Address, State or Province	WI
Entity Address, Postal Zip Code	53224
City Area Code	414
Local Phone Number	760-4600
Entity Incorporation, State or Country Code	WI
Title of 12(b) Security	Common Stock, $.01 Par Value
Security Exchange Name	NYSE
Entity Interactive Data Current	Yes
Document Quarterly Report	true
Document Transition Report	false

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Income Statement [Abstract]
Net sales	$ 329.2	$ 418
Cost of sales	266	337.8
Gross profit	63.2	80.2
Operating costs and expenses:
Engineering, selling and administrative expenses	55.9	59.4
Amortization of intangible assets	0.1	0.1
Restructuring expense	1.5	4.5
Total operating costs and expenses	57.5	64
Operating income	5.7	16.2
Other expense:
Interest expense	(7.2)	(10.9)
Amortization of deferred financing fees	(0.4)	(0.4)
Loss on debt extinguishment		(25)
Other expense - net	(4)	(3.3)
Total other expense	(11.6)	(39.6)
Loss before income taxes	(5.9)	(23.4)
Provision for income taxes	1.9	3.3
Net loss	$ (7.8)	$ (26.7)
Per Share Data
Basic net loss per common share	$ (0.22)	$ (0.75)
Diluted net loss per common share	$ (0.22)	$ (0.75)
Weighted average shares outstanding - basic	35,135,525	35,642,832
Weighted average shares outstanding - diluted	35,135,525	35,642,832

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Statement Of Income And Comprehensive Income [Abstract]
Net loss	$ (7.8)	$ (26.7)
Other comprehensive income (loss), net of income tax
Unrealized income on derivatives, net of income tax provision of $0.0 and $0.0, respectively	0	0.1
Employee pension and postretirement benefits, net of income tax provision of $0.3 and $0.0, respectively	1.2	0.5
Foreign currency translation adjustments	(13.6)	(2.5)
Total other comprehensive loss, net of income tax	(12.4)	(1.9)
Comprehensive loss	$ (20.2)	$ (28.6)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (Loss) (Parenthetical) (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Statement Of Income And Comprehensive Income [Abstract]
Unrealized income (loss) on derivatives, net of income tax benefit	$ 0	$ 0
Employee pension and post retirement benefits costs, net of income tax expense (benefit)	$ 0.3	$ 0

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Current Assets:
Cash and cash equivalents	$ 103.6	$ 199.3
Accounts receivable, less allowances of $8.7 and $7.9, respectively	169.3	168.3
Inventories — net	545.6	461.4
Notes receivable — net	15.1	17.4
Other current assets	29.2	26
Total current assets	862.8	872.4
Property, plant and equipment — net	277.6	289.9
Operating lease right-of-use assets	44.9	47.6
Goodwill	230.3	232.5
Other intangible assets — net	114.9	116.3
Other long-term assets	53.5	59
Total assets	1,584	1,617.7
Current Liabilities:
Accounts payable and accrued expenses	358.4	340.8
Short-term borrowings and current portion of long-term debt	3.9	3.8
Product warranties	47.1	47.2
Customer advances	21	25.8
Other liabilities	21.5	23.3
Total current liabilities	451.9	440.9
Non-Current Liabilities:
Long-term debt	307.9	308.4
Operating lease liabilities	35	37.6
Deferred income taxes	3.2	5.5
Pension obligations	83.7	86.4
Postretirement health and other benefit obligations	15.8	16.4
Long-term deferred revenue	25.7	30.3
Other non-current liabilities	44.1	46.3
Total non-current liabilities	515.4	530.9
Commitments and contingencies (Note 18)
Stockholders' Equity:
Preferred stock (authorized 3,500,000 shares of $.01 par value; none outstanding)
Common stock (75,000,000 shares authorized, 40,793,983 shares issued, 34,508,504 and 35,374,537 shares outstanding, respectively)	0.4	0.4
Additional paid-in capital	593.7	592.2
Accumulated other comprehensive loss	(133.4)	(121)
Retained earnings	228.2	236.2
Treasury stock, at cost (6,285,479 and 5,419,446 shares, respectively)	(72.2)	(61.9)
Total stockholders' equity	616.7	645.9
Total liabilities and stockholders' equity	$ 1,584	$ 1,617.7

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Statement Of Financial Position [Abstract]
Accounts Receivable, allowances (in dollars)	$ 8.7	$ 7.9
Preferred stock authorized (in shares)	3,500,000	3,500,000
Par value of preferred stock per share (in dollars per share)	$ 0.01	$ 0.01
Preferred stock outstanding (in shares)	0	0
Common stock, shares authorized (in shares)	75,000,000	75,000,000
Common stock, shares issued (in shares)	40,793,983	40,793,983
Common stock, shares outstanding (in shares)	34,508,504	35,374,537
Treasury stock (in shares)	6,285,479	5,419,446

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Cash Flows from Operating Activities:
Net loss	$ (7.8)	$ (26.7)
Adjustments to reconcile net loss to cash used for operating activities:
Depreciation	9	8.8
Amortization of intangible assets	0.1	0.1
Amortization of deferred financing fees	0.4	0.4
Loss on debt extinguishment		25
(Gain) loss on sale of property, plant and equipment	(0.1)	0.4
Other	3.4	3.7
Changes in operating assets and liabilities
Accounts receivable	(5.6)	(195.7)
Inventories	(88.5)	(94.5)
Notes receivable	2.6
Other assets	(1.7)	14.1
Accounts payable	28.1	26.6
Accrued expenses and other liabilities	(18.5)	(29.5)
Net cash used for operating activities	(78.6)	(267.3)
Cash Flows from Investing Activities:
Capital expenditures	(3.6)	(4.4)
Proceeds from sale of fixed assets	0.1	4.8
Cash receipts on sold accounts receivable		126.3
Net cash provided by (used for) investing activities	(3.5)	126.7
Cash Flows from Financing Activities:
Proceeds from revolving credit facility		58
Payments on revolving credit facility		(25)
Payments on long-term debt		(277.8)
Proceeds from long-term debt		300
Other debt - net	(0.5)
Debt issuance costs		(5.6)
Exercises of stock options	0.1	0.1
Common stock repurchases	(12)
Net cash provided by (used for) financing activities	(12.4)	49.7
Effect of exchange rate changes on cash	(1.3)	(0.4)
Net decrease in cash and cash equivalents	(95.8)	(91.3)
Cash and cash equivalents at beginning of period	199.3	140.3
Cash and cash equivalents at end of period	$ 103.6	$ 49

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Equity - USD ($) $ in Millions	Total	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Loss	Retained Earnings	Treasury Stock
Balance at beginning of period at Dec. 31, 2018		$ 0.4	$ 584.8	$ (116.6)	$ 189.6	$ (56.9)
Balance (in shares) at Dec. 31, 2018		35,588,833
Increase (Decrease) in Stockholders' Equity
Stock options exercised and issuance of other stock awards			(2.1)			2.4
Stock options exercised (in shares)		58,404
Restricted stock, net (in shares)		145,482
Performance shares issued (in shares)		54,860
Common stock repurchases (in shares)		(473,042)
Common stock repurchases						(7.4)
Stock-based compensation			9.5
Other comprehensive loss				(4.4)
Net loss					46.6
Balance at end of period at Dec. 31, 2019	$ 645.9	$ 0.4	592.2	(121)	236.2	(61.9)
Balance (in shares) at Dec. 31, 2019		35,374,537
Increase (Decrease) in Stockholders' Equity
Stock options exercised and issuance of other stock awards			(1.9)			1.7
Stock options exercised (in shares)		11,250
Restricted stock, net (in shares)		118,009
Performance shares issued (in shares)		66,419
Common stock repurchases (in shares)		(1,061,711)
Common stock repurchases		$ (12)				(12)
Stock-based compensation			3.4
Other comprehensive loss				(12.4)
Adoption of accounting standard updates					(0.2)
Net loss	(7.8)				(7.8)
Balance at end of period at Mar. 31, 2020	$ 616.7	$ 0.4	$ 593.7	$ (133.4)	$ 228.2	$ (72.2)
Balance (in shares) at Mar. 31, 2020		34,508,504

Accounting Policies and Basis o

Accounting Policies and Basis of Presentation	3 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
Accounting Policies and Basis of Presentation	1. Accounting Policies and Basis of Presentation The Manitowoc Company, Inc. (“Manitowoc” and the “Company”) was founded in 1902 and has over a 117-year tradition of providing high-quality, customer-focused products and support services to its markets. Manitowoc is one of the world’s leading providers of engineered lifting solutions. Manitowoc, through its wholly-owned subsidiaries, designs, manufactures, markets, and supports comprehensive product lines of mobile telescopic cranes, tower cranes, lattice-boom crawler cranes, and boom trucks under the Grove, Manitowoc, National Crane, Potain, Shuttlelift and Manitowoc Crane Care brand names. The Company serves a wide variety of customers, including dealers, rental companies, contractors, and government entities, across the petrochemical, industrial, commercial construction, power and utilities, infrastructure and residential construction end markets. Additionally, its Manitowoc Crane Care offering leverages Manitowoc's installed base of approximately 149,000 cranes to provide aftermarket parts and services to enable its customers to manage their fleets more effectively and improve their return on investment. Due to the ongoing and predictable maintenance needed by cranes, as well as the high cost of crane downtime, Manitowoc Crane Care provides the Company with a consistent stream of recurring revenue. The Company has three reportable segments, the Americas segment, Europe and Africa (“EURAF”) segment and Middle East and Asia Pacific (“MEAP”) segment. The segments were identified using the “management approach,” which designates the internal organization that is used by management for making operating decisions and assessing performance. Refer to Note 17, “Segments” for additional information. In the opinion of management, the accompanying unaudited Condensed Consolidated Financial Statements contain all adjustments necessary for a fair statement of the results of operations and comprehensive income for the three months ended March 31, 2020 and 2019, the cash flows for the same three-month periods and the financial position and equity at March 31, 2020 and December 31, 2019, and except as otherwise discussed, such adjustments consist of only those of a normal recurring nature. The interim results are not necessarily indicative of results for a full year and do not contain information included in the Company’s annual consolidated financial statements and notes for the year ended December 31, 2019. Certain information and footnote disclosures, normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States (“GAAP”), have been condensed or omitted pursuant to Securities and Exchange Commission rules and regulations dealing with interim financial statements. However, the Company believes that the disclosures made in the Condensed Consolidated Financial Statements included herein are adequate to make the information presented not misleading. It is suggested that these financial statements be read in conjunction with the financial statements and the notes thereto included in the Company’s latest annual report on Form 10-K. All dollar amounts, except share amounts, are in millions of dollars throughout the tables in these notes unless otherwise indicated. Impact of COVID-19 Pandemic During the first quarter of 2020, the outbreak of COVID-19 spread throughout the world and became a global pandemic. In response to the COVID-19 pandemic, various national, state, and local governments where the Company, its suppliers and customers operate have implemented numerous measures to try to contain the virus, such as travel bans and restrictions, border closings, restrictions on public gatherings, quarantining of people who may have been exposed to the virus, shelter-in-place restrictions, and limitations or shutdowns of business operations. The Company has significant operations worldwide, including in the United States, France, Germany, Portugal, Italy and China and each of these countries has been affected by the outbreak and taken measures to try to contain it, resulting in disruptions at some of the Company’s manufacturing facilities and support operations. Although the Company continues to operate in the United States as an essential business, certain facilities around the world were closed at some point throughout the quarter. There is considerable uncertainty regarding the impact, and expected duration, of the pandemic, and restrictions on the Company’s access to its facilities or on its support operations or workforce, or similar limitations for its customers, dealers and suppliers. There is no certainty that measures taken by governmental authorities will be sufficient to mitigate the risks posed by the virus, and the Company’s ability to perform critical functions could be harmed. This uncertainty could have an impact in future periods on certain estimates used in the preparation of the Company’s first quarter financial results, including, but not limited to, impairment of goodwill and other long-lived assets, income tax provision, recoverability of inventory and hedge accounting with respect to forecasted future transactions.

Recent Accounting Changes and P

Recent Accounting Changes and Pronouncements	3 Months Ended
	Mar. 31, 2020
Recent Accounting Changes And Pronouncements [Abstract]
Recent Accounting Changes and Pronouncements	2. Recent Accounting Changes and Pronouncements In December 2019, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2019-12 “Income Taxes (Topic 740).” The amendments in this ASU simplify accounting for income taxes by removing certain exceptions to the general principles in Topic 740. The amendments also improve consistent application of and simplify GAAP for other areas of Topic 740 by clarifying and amending existing guidance. The standard is effective for annual periods beginning after December 15, 2020. The Company is currently evaluating the impact the adoption of the ASU will have on the Company’s consolidated financial statements. In August 2018, the FASB issued ASU No. 2018-15 “Intangibles – Goodwill and Other – Internal-use Software (Subtopic 250-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement that is a Service Contract.” The amendments in this ASU align the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. The standard is effective for annual periods beginning after December 15, 2019. The adoption of the ASU did not have a material impact on the Company’s condensed consolidated financial statements. In June 2016, the FASB issued ASU 2016-13, “Financial Instruments - Credit Losses,” which requires the Company to measure all expected credit losses for financial instruments held at the reporting date based on historical experience, current conditions and reasonable supportable forecasts. The new guidance is applicable to financial assets measured at amortized cost, net investments in leases and certain off-balance sheet credit exposures. The standard was effective for annual periods beginning after December 15, 2019. The adoption of the ASU resulted in a $0.2 million reduction in beginning retained earnings and a corresponding reduction in accounts receivable on the Company’s Condensed Consolidated Balance Sheets as of March 31, 2020. There was no material impact to the Company’s Condensed Consolidated Statements of Operations or Condensed Consolidated Statements of Cash Flows.

Revenues

Revenues	3 Months Ended
	Mar. 31, 2020
Revenue From Contract With Customer [Abstract]
Revenues	3. Revenues The Company records deferred revenue when cash payments are received or due in advance of performance, including amounts which are refundable. The table below shows the change in the customer advances balance for the three months ended March 31, 2020 and 2019 which are included in current liabilities in the Condensed Consolidated Balance Sheets. Three Months Ended March 31, 2020 2019 Balance at beginning of period $ 25.8 $ 9.6 Cash received in advance of satisfying performance obligation 28.9 31.9 Revenue recognized (32.5 ) (28.3 ) Currency translation (1.2 ) 0.1 Balance at end of period $ 21.0 $ 13.3 Disaggregation of the Company’s revenue sources are disclosed in Note 17, “Segments.”

Fair Value of Financial Instrum

Fair Value of Financial Instruments	3 Months Ended
	Mar. 31, 2020
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	4 . Fair Value of Financial Instruments Accounting Standards Codification (“ASC”) Topic 820-10, “Fair Value Measurement,” defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. ASC Topic 820-10 classifies the inputs used to measure fair value into the following hierarchy: Level 1 Unadjusted quoted prices in active markets for identical assets or liabilities Level 2 Unadjusted quoted prices in active markets for similar assets or liabilities, or Unadjusted quoted prices for identical or similar assets or liabilities in markets that are not active, or Inputs other than quoted prices that are observable for the asset or liability Level 3 Unobservable inputs for the asset or liability The following tables set forth the Company’s financial assets and liabilities that were recorded within the Condensed Consolidated Balance Sheets and accounted for at fair value as of March 31, 2020 and December 31, 2019, by level within the fair value hierarchy. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. Fair Value as of March 31, 2020 Level 1 Level 2 Level 3 Total Recognized Location Current Assets: Forward currency exchange contracts $ — $ 0.1 $ — $ 0.1 Other current assets Current Liabilities: Forward currency exchange contracts $ — $ 0.2 $ — $ 0.2 Accounts payable and accrued expenses Fair Value as of December 31, 2019 Level 1 Level 2 Level 3 Total Recognized Location Current Assets: Forward currency exchange contracts $ — $ 0.1 $ — $ 0.1 Other current assets Current Liabilities: Forward currency exchange contracts $ — $ 0.1 $ — $ 0.1 Accounts payable and accrued expenses The fair value of the senior secured second lien notes due on April 1, 2026, with an annual coupon rate of 9.000% (the “2026 Notes”), was approximately $266.0 million as of March 31, 2020. See Note 11, “Debt,” for a description of the debt instrument and its related carrying value. The Company endeavors to utilize the best available information in measuring fair value. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The Company estimates the fair value of its 2026 Notes based on quoted market prices; because these markets are typically actively traded, the liabilities are classified as Level 1 within the valuation hierarchy. The carrying values of cash and cash equivalents, accounts receivable, accounts payable and short-term variable debt, including any amounts outstanding under the revolving credit facility, approximate fair value, without being discounted as of March 31, 2020 and December 31, 2019, due to the short-term nature of these instruments. Forward currency exchange contracts (“FX Forward Contracts”) are valued through an independent valuation source which uses an industry standard data provider, with resulting valuations periodically validated through third-party or counterparty quotes. As such, these derivative instruments are classified within Level 2. See Note 5, “Derivative Financial Instruments” for additional information.

Derivative Financial Instrument

Derivative Financial Instruments	3 Months Ended
	Mar. 31, 2020
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	5 . Derivative Financial Instruments The Company’s risk management objective is to ensure that business exposures to risks are minimized using the most effective and efficient methods to eliminate, reduce, or transfer such exposures. Operating decisions consider these associated risks and, whenever possible, transactions are structured to avoid or mitigate these risks. From time to time, the Company enters into FX Forward Contracts to manage the exposure on forecasted transactions denominated in non-functional currencies and to manage the risk of transaction gains and losses associated with assets/liabilities in currencies other than the functional currency of certain subsidiaries. Certain of these FX Forward Contracts are designated as cash flow hedges. To the extent these derivatives are effective in offsetting the variability of the hedged cash flows, changes in the derivatives’ fair value are not included in current earnings but are included in accumulated other comprehensive income (loss). These changes in fair value are reclassified into earnings as a component of cost of sales, as applicable, when the forecasted transaction impacts earnings. In addition, if the forecasted transaction is no longer probable, the cumulative change in the derivatives’ fair value is recorded as a component of other income expense – net in the period in which the transaction is no longer considered probable of occurring. No amounts were recorded related to these types of transactions during the three months ended March 31, 2020 and 2019, respectively. The Company had FX Forward Contracts with an aggregate notional amount of $24.4 million and $32.6 million outstanding as of March 31, 2020 and December 31, 2019, respectively. The aggregate notional amount outstanding as of March 31, 2020 is scheduled to mature within one year. The FX Forward Contracts purchased are denominated in Euros. As of March 31, 2020 and December 31, 2019, the net fair value of these contracts was a net current liability of $0.1 million and a net zero balance, respectively. There was zero unrealized gains (losses), net of income tax, recorded in accumulated other comprehensive loss as of March 31, 2020 and December 31, 2019. The following table provides the amount of gain or losses recorded in the Condensed Consolidated Statement of Operations for FX Forward Contracts for the three months ended March 31, 2020 and 2019. Three Months Ended March 31, Recognized Location 2020 2019 Designated Cost of sales $ 0.1 $ 0.8 Non-Designated Other income (expense) - net $ — $ 0.7

Inventories

Inventories	3 Months Ended
	Mar. 31, 2020
Inventory Disclosure [Abstract]
Inventories	6. Inventories The components of inventories as of March 31, 2020 and December 31, 2019 are summarized as follows: March 31, 2020 December 31, 2019 Raw materials $ 157.3 $ 156.3 Work-in-process 142.2 116.3 Finished goods 297.5 239.4 Total inventories 597.0 512.0 Excess and obsolete inventory reserve (51.4 ) (50.6 ) Inventories — net $ 545.6 $ 461.4

Notes Receivable

Notes Receivable	3 Months Ended
	Mar. 31, 2020
Receivables [Abstract]
Notes Receivable	7. Notes Receivable The Company has notes receivable balances that are classified as current or long-term based on the timing of amounts due. Long-term notes receivable are included within other non-current assets on the Condensed Consolidated Balance Sheets. Current and long-term notes receivable balances primarily relate to the Company’s captive finance entity in China. The Company also has a long-term note receivable balance related to the 2014 sale of Manitowoc Dong Yue. During 2019, the Company recorded $2.8 million related to the write down of the note with Manitowoc Dong Yue to the anticipated collection amount. As of March 31, 2020, the Company had current and long-term notes receivable in the amount of $15.1 million and $16.0 million, respectively. As of December 31, 2019, the Company had current and long-term notes receivable in the amount of $17.4 million and $16.3 million, respectively.

Property, Plant and Equipment

Property, Plant and Equipment	3 Months Ended
	Mar. 31, 2020
Property Plant And Equipment [Abstract]
Property, Plant and Equipment	8 . Property, Plant and Equipment The components of property, plant and equipment at March 31, 2020 and December 31, 2019 are summarized as follows: March 31, 2020 December 31, 2019 Land $ 23.3 $ 24.0 Building and improvements 193.8 197.3 Machinery, equipment and tooling 271.9 274.2 Furniture and fixtures 18.3 18.5 Computer hardware and software 119.3 119.3 Rental cranes 73.1 77.7 Construction in progress 8.5 11.2 Total cost 708.2 722.2 Less accumulated depreciation (430.6 ) (432.3 ) Property, plant and equipment-net $ 277.6 $ 289.9 Property, plant and equipment are depreciated over the asset’s estimated useful lives using the straight-line depreciation method for financial reporting and accelerated methods for income tax purposes.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	3 Months Ended
	Mar. 31, 2020
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	9. Goodwill and Other Intangible Assets The Company performs an annual impairment review of goodwill and indefinite-lived intangible assets during the fourth quarter, or more frequently if events or changes in circumstances indicate that the asset might be impaired. The Company considered the deterioration in general economic and market conditions due to the COVID-19 pandemic and its impact on each of the Company’s reporting units’ performance. Despite the significant excess fair value identified in the 2019 annual impairment assessment, the Company determined that due to the decline in the Company’s market capitalization as a result of the COVID-19 pandemic, a triggering event was identified during the first quarter of 2020. Therefore, the Company qualitatively assessed whether it was more likely than not that the goodwill and indefinite-lived intangible assets were impaired as of March 31, 2020. Based on the Company’s review of its previous forecast and assumptions of its long-term revenue growth and operating income projections, including the duration and extent of the COVID-19 impact to the business, current discount rates, volatility in the Company’s market capitalization and macro-economic conditions, as well as the amount of excess of fair value over the carrying value of the reporting units in the 2019 annual impairment assessment, the Company concluded that the fair value of each reporting unit was in excess of its carrying amount as of March 31, 2020. However, the Company is unable to predict future changes in such circumstances, including a more prolonged and/or severe COVID-19 pandemic than anticipated, or future changes in the variables associated with management’s judgements and assumptions used to assess the fair value of the reporting units, which could require the Company to record a non-cash impairment charge in the future. The changes in the carrying amount of goodwill for the year ended December 31, 2019 and the three months ended March 31, 2020 are summarized as follows: Americas MEAP Consolidated Balance as of January 1, 2019 $ 166.5 $ 66.3 $ 232.8 Foreign currency impact — (0.3 ) (0.3 ) Balance as of December 31, 2019 166.5 66.0 232.5 Foreign currency impact — (2.2 ) (2.2 ) Balance as of March 31, 2020 $ 166.5 $ 63.8 $ 230.3 Other intangible assets with definite lives are amortized over their estimated useful lives. The gross carrying amount, accumulated amortization and net book value of the Company’s intangible assets other than goodwill at March 31, 2020 and December 31, 2019 are summarized as follows: March 31, 2020 December 31, 2019 Gross Carrying Amount Accumulated Amortization Net Book Value Gross Carrying Amount Accumulated Amortization Net Book Value Trademarks and tradenames $ 94.2 $ — $ 94.2 $ 95.3 $ — $ 95.3 Customer relationships 9.7 (8.2 ) 1.5 10.0 (8.5 ) 1.5 Patents 29.2 (28.4 ) 0.8 29.5 (28.7 ) 0.8 Distribution network 18.4 — 18.4 18.7 — 18.7 Net balance $ 151.5 $ (36.6 ) $ 114.9 $ 153.5 $ (37.2 ) $ 116.3 Amortization expense for each of the three months ended March 31, 2020 and 2019 was $0.1 Definite lived intangible assets and long-lived assets are subject to impairment testing whenever events or circumstances indicate that the carrying value of the assets may not be recoverable.

Accounts Payable and Accrued Ex

Accounts Payable and Accrued Expenses	3 Months Ended
	Mar. 31, 2020
Payables And Accruals [Abstract]
Accounts Payable and Accrued Expenses	10. Accounts Payable and Accrued Expenses Accounts payable and accrued expenses at March 31, 2020 and December 31, 2019 are summarized as follows: March 31, 2020 December 31, 2019 Trade accounts payable $ 211.5 $ 187.1 Employee-related expenses 39.4 56.6 Accrued vacation 21.4 20.2 Miscellaneous accrued expenses 86.1 76.9 Total accounts payable and accrued expenses $ 358.4 $ 340.8

Debt

Debt	3 Months Ended
	Mar. 31, 2020
Debt Disclosure [Abstract]
Debt	11. Debt Outstanding debt at March 31, 2020 and December 31, 2019 are summarized as follows: March 31, 2020 December 31, 2019 Senior secured asset based revolving credit facility $ — $ — Senior secured second lien notes due 2026 300.0 300.0 Other 16.2 16.7 Deferred financing costs (4.4 ) (4.5 ) Total debt 311.8 312.2 Short-term borrowings and current portion of long-term debt (3.9 ) (3.8 ) Long-term debt $ 307.9 $ 308.4 On March 25, 2019, the Company and certain of its subsidiaries entered into an indenture with U.S. Bank National Association as trustee and notes collateral agent, pursuant to which the Company issued $300.0 million aggregate principal amount senior secured second lien notes due on April 1, 2026 with an annual coupon rate of 9.000%. Interest on the 2026 Notes is payable in cash semi-annually in arrears on April 1 and October 1 of each year. The 2026 Notes are fully and unconditionally guaranteed on a senior secured second lien basis, jointly and severally, by each of the Company’s existing and future domestic subsidiaries that is either a guarantor or a borrower under the ABL Revolving Credit Facility (as defined below) or that guarantees certain other debt of the Company or a guarantor. The 2026 Notes and the related guarantees are secured on a second-priority basis, subject to certain exceptions and permitted liens, by pledges of capital stock and other equity interests and other security interests in substantially all of the personal property and fee-owned real property of the Company and of the guarantors that secure obligations under the ABL Revolving Credit Facility. The 2026 Notes were sold pursuant to exemptions from registration under the Securities Act of 1933. Additionally, on March 25, 2019, the Company and certain subsidiaries of the Company (the “Loan Parties”) entered into a credit agreement (the “ABL Credit Agreement”) with JP Morgan Chase Bank, N.A as administrative and collateral agent and certain financial institutions party thereto as lenders, providing for a senior secured asset-based revolving credit facility (the “ABL Revolving Credit Facility”) of up to $275.0 million. The borrowing capacity under the ABL Revolving Credit Facility is based on the value of inventory, accounts receivable and fixed assets of the Loan Parties. The Loan Parties’ obligations under the ABL Revolving Credit Facility are secured on a first-priority bases, subject to certain exceptions and permitted liens, by substantially all of the personal property and fee-owned real property of the Loan Parties. The liens securing the ABL Revolving Credit Facility are senior in priority to the second-priority liens securing the obligations under the 2026 Notes and the related guarantees. The ABL Revolving Credit Facility has a term of 5 years and includes a $75.0 million letter of credit sub-facility, $10.0 million of which is available to the Company’s German subsidiary that is a borrower under the ABL Revolving Credit Facility. Borrowings under the ABL Revolving Credit Facility bear interest at a variable rate using either the Alternative Base Rate or the Eurodollar and Overnight London Interbank Offer Rate (“LIBOR”). The variable interest rate is based upon the average quarterly availability as of the most recent determination date as follows: Average quarterly availability Alternative base rate spread Eurodollar and overnight LIBOR spread ≥ 50% of Aggregate Commitment 0.25% 1.25% < 50% of Aggregate Commitment 0.50% 1.50% The Company used the initial extension of credit under the ABL Revolving Credit Facility, together with the net proceeds from the offering of the 2026 Notes, to (i) redeem all of the Company’s $260.0 million in outstanding 12.750% Senior Secured Second Lien Notes due 2021 (the “Prior 2021 Notes”); (ii) repay all obligations outstanding, and terminate all commitments, under the Company’s previous (x) $225.0 million ABL Revolving Credit Facility and (y) $75.0 million accounts receivable securitization facility; and (iii) pay related fees and expenses, including $16.6 million of call premium on the Prior 2021 Notes, $5.0 million of closing costs and $4.6 million of accrued interest. During the three months ended March 31, 2019 the Company recorded a $25.0 million charge in the Condensed Consolidated Statement of Operations associated with the Company’s refinancing of the ABL Revolving Credit Facility and 2026 Notes. The charge is composed of $16.6 million of call premium on the Prior 2021 Notes, $5.3 million of unamortized discount on the Prior 2021 Notes and $3.1 million of unamortized debt issuance costs. As of March 31, 2020, the Company had outstanding $16.2 million of other indebtedness that has a weighted-average interest rate of approximately 5.14%. This debt includes balances on local credit lines and other financing arrangements. At March 31, 2020 and December 31, 2019, the Company had no borrowings on the ABL Revolving Credit Facility. As of March 31, 2020, the spreads for LIBOR and prime rate borrowings were 1.25% and 0.25%, respectively, with excess availability of approximately $240.2 million, which represents revolver borrowing capacity of $244.2 million less U.S. letters of credit outstanding of $4.0 million. Both the ABL Revolving Credit Facility and the 2026 Notes include customary covenants which include, without limitation, restrictions on, the Company’s ability and the ability of the Company’s restricted subsidiaries to incur, assume or guarantee additional debt or issue certain preferred shares, pay dividends on or make other distributions in respect of the Company’s capital stock or make other restricted payments, make certain investments, sell or transfer certain assets, create liens on certain assets to secure debt, consolidate, merge, sell, or otherwise dispose of all or substantially all of the Company’s assets, enter into certain transactions with affiliates and designate the Company’s subsidiaries as unrestricted. Both the ABL Revolving Credit Facility and the 2026 Notes also include customary events of default. The ABL Revolving Credit Facility has customary representations and warranties including, as a condition to borrowing, that all such representations and warranties are true and correct, in all material respects, on the date of the borrowing, including representations as to no material adverse change in the Company’s business or financial condition since December 31, 2018. Additionally, the ABL Revolving Credit Facility contains a covenant requiring the Company to maintain a minimum fixed charge coverage ratio under certain circumstances set forth in the ABL Credit Agreement. As of March 31, 2020, the Company was in compliance with all affirmative and negative covenants in its debt instruments, inclusive of the financial covenants pertaining to the ABL Revolving Credit Facility and the 2026 Notes. Based upon management’s current plans and outlook, the Company believes it will be able to comply with these covenants during the subsequent twelve months.

Accounts Receivable Securitizat

Accounts Receivable Securitization and Other Factoring Arrangements	3 Months Ended
	Mar. 31, 2020
Transfers And Servicing [Abstract]
Accounts Receivable Securitization and Other Factoring Arrangements	12. Accounts Receivable Securitization and Other Factoring Arrangements The Company had maintained a Receivables Purchase Agreement (“RPA”) among Manitowoc Funding, LLC (“MTW Funding”), as Seller, The Manitowoc Company, Inc., as Servicer, and Wells Fargo Bank, N.A., as Purchaser and as Agent, with a commitment size of $75.0 million. Under the RPA (and the related Purchase and Sale Agreements referenced in the RPA), the Company’s domestic trade accounts receivable were sold to MTW Funding which, in turn, sold, conveyed, transferred and assigned to a third-party financial institution (“Purchaser”), all of MTW Funding's rights, title and interest in a pool of receivables to the Purchaser. Transactions under the program are accounted for as sales in accordance with ASC Topic 860, “Transfers and Servicing” (“Topic 860”). This program was terminated on March 25, 2019. Trade accounts receivable sold to the Purchaser and being serviced by the Company totaled zero and $149.0 million for the three months ended March 31, 2020 and 2019, respectively. Cash proceeds received from customers related to the receivables previously sold for the three months ended March 31, 2020 and 2019 were zero and $ 182.8 Proceeds received from the sale of trade receivables under the program are included in cash flows from operating activities; whereas cash collections related to the deferred purchase price are classified as cash flows from investing activities in the accompanying Condensed Consolidated Statements of Cash Flows. For the three months ended March 31, 2020 and 2019 non-cash investing activities related to the increase in the deferred purchase price was zero million and $168.3 million, respectively. The Company has two non-U.S. accounts receivable financing programs. During 2019, the Company increased the maximum availability under these programs from €45 million to €55 million. €36.5 million of receivables and received €36.5 million of cash on the sold receivables. The Company also has one U.S. accounts receivable financing program. Transactions under the U.S. and non-U.S. programs were accounted for as sales in accordance with Topic 860.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2020
Income Tax Disclosure [Abstract]
Income Taxes	13. Income Taxes For the three months ended March 31, 2020 and 2019, the Company recorded a provision for income taxes of $1.9 million and $3.3 million, respectively. The decrease in the Company’s provision for income taxes for the three months ended March 31, 2020 relative to the prior year primarily relates to reduced tax expense in foreign jurisdictions. The Company will continue to evaluate its valuation allowance requirements on an ongoing basis in light of changing facts and circumstances and may adjust its deferred tax asset valuation allowances accordingly. It is reasonably possible that the Company will either add to or reverse a portion of its existing deferred tax asset valuation allowances in the future. Such changes in the deferred tax asset valuation allowances will be reflected in the Company’s income tax provision (benefit) and could have a material effect on financial results. The Company’s unrecognized tax benefits, excluding interest and penalties, were $11.6 million as of March 31, 2020 and $11.5 million as of December 31, 2019. On March 27, 2020, the Coronavirus Aid, Relief, and Economic Act (the “CARES Act”)

Net Loss Per Share

Net Loss Per Share	3 Months Ended
	Mar. 31, 2020
Earnings Per Share [Abstract]
Net Loss Per Share	14. Net Loss Per Share Basic net loss per share is computed by dividing net loss by the weighted average number of common shares outstanding of 35.1 million and 35.6 million for the three months ended March 31, 2020 and 2019. Equity incentive instruments for which total employee proceeds from exercise exceed the average fair value of the same equity incentive instrument over the period have an anti-dilutive effect on earnings per share during periods with net earnings, and accordingly, the Company excludes them from the calculation. Due to the net loss incurred during the three months ended March 31, 2020 and 2019, the assumed exercise of all equity incentive instruments was anti-dilutive and, therefore, not included in the net diluted loss per share calculation for those periods. The following is a reconciliation of the average shares outstanding used to compute basic and diluted earnings per share: Three Months Ended March 31, 2020 2019 Basic weighted average common shares outstanding 35,135,525 35,642,832 Effect of dilutive securities - stock awards — — Diluted weighted average common shares outstanding 35,135,525 35,642,832 No cash dividends were paid during the three months ended March 31, 2020 and 2019.

Equity

Equity	3 Months Ended
	Mar. 31, 2020
Equity [Abstract]
Equity	15. Equity Authorized capital consists of 75 million shares of $0.01 par value common stock and 3.5 million shares of $0.01 par value preferred stock. None of the preferred shares have been issued. As of March 31, 2020, the Company has authorization to repurchase up to $30.0 million of the Company’s common stock at management’s discretion. During the three months ended March 31, 2020, the Company repurchased 1.1 million shares of the Company’s common stock for $12.0 million under this authorization. As of March 31, 2020, the Company had $10.6 million remaining under this authorization. As a result of the COVID-19 pandemic, the Company suspended its share repurchase program to preserve its liquidity and manage cash flows. A reconciliation of the changes in accumulated other comprehensive loss, net of income tax, by component for the three months ended March 31, 2020 and 2019 are summarized as follows: Gains and Losses on Cash Flow Hedges Pension & Postretirement Foreign Currency Translation Total Balance at December 31, 2018 $ (0.3 ) $ (36.2 ) $ (80.1 ) $ (116.6 ) Other comprehensive income (loss) before reclassifications (0.7 ) 0.1 (2.5 ) (3.1 ) Amounts reclassified from accumulated other comprehensive loss 0.8 0.4 — 1.2 Net other comprehensive income (loss) 0.1 0.5 (2.5 ) (1.9 ) Balance at March 31, 2019 $ (0.2 ) $ (35.7 ) $ (82.6 ) $ (118.5 ) Balance at December 31, 2019 $ — $ (39.9 ) $ (81.1 ) $ (121.0 ) Other comprehensive income (loss) before reclassifications (0.1 ) 1.1 (13.6 ) (12.6 ) Amounts reclassified from accumulated other comprehensive loss 0.1 0.1 — 0.2 Net other comprehensive income (loss) — 1.2 (13.6 ) (12.4 ) Balance at March 31, 2020 $ — $ (38.7 ) $ (94.7 ) $ (133.4 ) A reconciliation of the reclassifications from accumulated other comprehensive loss, net of income tax, for the three months ended March 31, 2020 and 2019 are summarized as follows : Amount Reclassified from Accumulated Other Comprehensive Loss Three Months Ended March 31, 2020 Three Months Ended March 31, 2019 Recognized Location Gains and losses on cash flow hedges FX Forward Contracts $ (0.1 ) $ (0.8 ) Cost of sales Total before income taxes (0.1 ) (0.8 ) Provision for income taxes — — Total, net of income taxes $ (0.1 ) $ (0.8 ) Amortization of pension and postretirement items Actuarial losses $ (1.1 ) $ (1.1 ) (a) Other expense - net Amortization of prior service cost 0.7 0.7 (a) Other expense - net Total before income taxes (0.4 ) (0.4 ) Provision for income taxes 0.3 - Total, net of income taxes $ (0.1 ) $ (0.4 ) Total reclassifications for the period, net of income taxes $ (0.2 ) $ (1.2 ) (a) These accumulated other comprehensive income (loss) components are components of net periodic pension cost (see Note 21, “Employee Benefit Plans,” for further details)

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Mar. 31, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock-Based Compensation	16. Stock-Based Compensation Long-term incentive compensation awards may be granted to certain eligible employees or non-employee directors. A detailed description of the awards granted prior to 2020 is included in the Company’s 2019 Annual Report on Form 10-K. The total number of shares of the Company’s common stock available for awards under the 2013 Plan is 7,477,395 shares. The total number of shares of the Company’s common stock still available for issuance as of March 31, 2020 is 4,603,138 shares. Stock-based compensation expense was $3.4 million and $3.1 million for the three months ended March 31, 2020 and 2019, respectively. The Company recognizes stock-based compensation expense over the awards' vesting period, subject to retirement, death or disability provisions of the 2013 Omnibus Incentive Plan. Options to acquire 250,432 and 210,243 shares of common stock were granted to employees during the three months ended March 31, 2020 and 2019, respectively. The options granted in 2020 and 2019 become exercisable in three annual increments over a three-year 10 years A total of 277,449 and 176,371 restricted stock units were issued by the Company to employees during the three months ended March 31, 2020 and 2019, respectively. The restricted stock units granted to employees vest in three annual increments over a three-year A total of 321,599 and 228,037 performance shares were issued during the three months ended March 31, 2020 and 2019, respectively. Performance shares cliff vest after three years and are earned based on the extent to which performance goals are met over the applicable performance period. The performance goals and the applicable performance period vary for each grant year. The performance goals for the performance shares granted in 2020 are based 100% on the 3-year average of the Company’s Adjusted EBITDA percentage from continuing operations from 2020 to 2022 and can be modified +/-20% based on total shareholder return relative to a defined peer group of companies during the three-year performance period. The performance goals for the performance shares granted in 2019 are based 50% on total shareholder return relative to a defined peer group of companies during the three-year The Company issued a total of 77,608 and 50,673 equity grants to directors during the three months ended March 31, 2020 and 2019 , respectively. The 2020 and 2019 equity grants vested immediately upon the grant date .

Segments

Segments	3 Months Ended
	Mar. 31, 2020
Segment Reporting [Abstract]
Segments	17. Segments The Company reports segment information based on the “management” approach. The management approach designates the internal reporting used by the Chief Executive Officer, who is also the Company’s Chief Operating Decision Maker (“CODM”), for making decisions about the allocation of resources and assessing performance as the source of the Company’s reportable operating segments. The Company has three reportable segments: Americas, EURAF, and MEAP. The Americas operating segment includes the North America and South America continents. The EURAF operating segment includes the continents of Europe and Africa continents, excluding the Middle East region. The MEAP operating segment includes the Asia and Australia continents and the Middle East region. The CODM evaluates the performance of its reportable segments based on net sales and operating income. Segment net sales are recognized in the geographic region the product is sold. Operating income for each segment includes net sales to third parties, cost of sales directly attributable to the segment, and operating expenses directly attributable to the segment. Manufacturing variances generated within each operating segment are maintained in each segment’s operating income. Operating income for each segment excludes other income and expense and certain expenses managed outside the operating segments. Costs excluded from segment operating income include various corporate expenses such as stock-based compensation expenses, income taxes, nonrecurring charges and other separately managed general and administrative costs. The Company does not include intercompany sales between segments for management reporting purposes. The Company’s operating segments were identified as its reportable segments. The following table shows information by reportable segment for the three months ended March 31, 2020 and 2019: Three Months Ended March 31, 2020 2019 Net Sales Americas $ 156.2 $ 206.1 EURAF 122.9 154.2 MEAP 50.1 57.7 Total $ 329.2 $ 418.0 Segment Operating Income Americas $ 9.1 $ 15.2 EURAF (0.4 ) 3.4 MEAP 6.3 7.3 Total $ 15.0 $ 25.9 Depreciation Americas $ 4.0 $ 3.6 EURAF 3.8 3.7 MEAP 0.5 0.7 Corporate 0.7 0.8 Total $ 9.0 $ 8.8 Capital Expenditures Americas $ 0.3 $ 2.8 EURAF 3.3 0.8 MEAP — 0.8 Corporate — — Total $ 3.6 $ 4.4 A reconciliation of the Company’s segment operating income to operating income in the Condensed Consolidated Statement of Operations for the three months ended March 31, 2020 and 2019 are summarized as follows: Three Months Ended March 31, 2020 2019 Segment operating income $ 15.0 $ 25.9 Unallocated corporate expenses (9.3 ) (9.3 ) Unallocated restructuring expense — (0.1 ) Unallocated other operating income (expense) - net — (0.3 ) Total operating income $ 5.7 $ 16.2 Net sales by geographic area for the three months ended March 31, 2020 and 2019 are summarized as follows: Three Months Ended March 31, 2020 2019 United States $ 142.7 $ 184.7 Europe 119.5 149.1 Other 67.0 84.2 Total $ 329.2 $ 418.0 Net sales by product for the three months ended March 31, 2020 and 2019 are summarized as follows: Three Months Ended March 31, 2020 2019 Cranes $ 248.6 $ 333.5 Aftermarket parts and other* 80.6 84.5 Total net sales $ 329.2 $ 418.0 *Other consists of sales related to CraneCare services such as trainings and field service work.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2020
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	18. Commitments and Contingencies The Company is involved in various legal actions arising out of the normal course of business, which, taking into account the liabilities accrued and legal counsel’s evaluation of such actions, in the opinion of management, the ultimate resolution, individually and in the aggregate, is not expected to have a material adverse effect on the Company’s financial condition, results of operations or cash flows. As of March 31, 2020, various product-related lawsuits were pending. To the extent permitted under applicable law, all of these are insured with self-insurance retention levels. The Company’s self-insurance retention levels vary by business and have fluctuated over the last 10 years. As of March 31, 2020, the largest self-insured retention level for new occurrences currently maintained by the Company is $2.0 million per occurrence and applies to product liability claims for cranes manufactured in the United States. Product liability reserves, recorded within other liabilities in the Condensed Consolidated Balance Sheets at March 31, 2020 and December 31, 2019 were $11.1 million and $12.8 million, respectively. These reserves were estimated using a combination of actual case reserves and actuarial methods. Based on the Company’s experience in defending product liability claims, management believes the current reserves are adequate for estimated case resolutions on aggregate self-insured claims and insured claims. Any recoveries from insurance carriers are dependent upon the legal sufficiency of claims and solvency of insurance carriers. At March 31, 2020 and December 31, 2019, the Company had reserved $48.9 million and $48.6 million, respectively, for warranty claims included in product warranties and other non-current liabilities in the Condensed Consolidated Balance Sheets. Certain of these warranty and other related claims involve legal matters in dispute that ultimately are resolved by negotiation, arbitration, or litigation. See Note 19, “Guarantees,” for further information. The Company is involved in numerous lawsuits involving asbestos-related claims in which the Company is one of numerous defendants. After taking into consideration legal counsel’s evaluation of such actions, the current political environment with respect to asbestos related claims, and the liabilities accrued with respect to such matters, in the opinion of management, ultimate resolution is not expected to have a material adverse effect on the financial condition, results of operations, or cash flows of the Company. It is reasonably possible that the estimates for warranty costs, product liability, environmental remediation, asbestos-related claims and other various legal matters may change based upon new information that may arise or matters that are beyond the scope of the Company’s historical experience. Presently, there are no reliable methods to estimate the amount of any such potential changes.

Guarantees

Guarantees	3 Months Ended
	Mar. 31, 2020
Guarantees [Abstract]
Guarantees	19. Guarantees The Company periodically enters into transactions with customers that provide for buyback commitments. The Company evaluates each agreement at inception to determine if the customer has a significant economic incentive to exercise the buyback option. If it is determined that the customer has a significant economic incentive to exercise that right, the revenue is deferred and the agreement is accounted for as a lease in accordance with ASC Topic 842 – “Leases,” (“Topic 842”). If it is determined that the customer does not have a significant economic incentive to exercise that right, then revenue is recognized when control of the product is transferred to the customer. In the normal course of business, the Company provides its customers a warranty covering workmanship, and in some cases materials, on products manufactured by the Company. Such warranties generally provide that products will be free from defects for periods ranging from 12 months to 60 months. If a product fails to comply with the Company’s warranty, the Company may be obligated, at its expense, to correct any defect by repairing or replacing such defective products. The Company provides for an estimate of costs that may be incurred under its warranty at the time product revenue is recognized. These costs primarily include labor and materials, as necessary, associated with repair or replacement. The primary factors that affect the Company’s warranty liability include the number of units shipped and historical and anticipated warranty claims. As these factors are impacted by actual experience and future expectations, the Company assesses the adequacy of its recorded warranty liability and adjusts the amounts as necessary. Below is a table summarizing the warranty activity for the three months ended March 31, 2020 and 2019: Three Months Ended March 31, 2020 2019 Balance at beginning of period $ 60.6 $ 47.8 Accruals for warranties issued during the period 8.6 7.0 Settlements made (in cash or in kind) during the period (8.8 ) (8.8 ) Currency translation (0.7 ) (0.3 ) Balance at end of period $ 59.7 $ 45.7 Included in the warranty balance as of March 31, 2020 and December 31, 2019 is $12.6 million and $13.4 million, respectively, of long-term warranty which is recorded in other non-current liabilities in the Condensed Consolidated Balance Sheets.

Restructuring

Restructuring	3 Months Ended
	Mar. 31, 2020
Restructuring And Related Activities [Abstract]
Restructuring	20 . Restructuring During the three months ended March 31, 2020 and 2019, the Company incurred $1.5 million and $4.5 million of restructuring expense, respectively. The costs for the three months ended March 31, 2020 related primarily to headcount reductions in Europe. Costs for the three months ended March 31, 2019, related primarily to headcount reductions in Europe and North America. The following is a rollforward of the Company's restructuring accrual for the three months ended March 31, 2020 and 2019: Three Months Ended March 31, 2020 2019 Balance at beginning of period $ 2.0 $ 3.3 Restructuring expenses 1.5 4.5 Use of reserve (1.1 ) (3.0 ) Reserve reclassification — (0.2 ) Currency translation — — Balance at end of period $ 2.4 $ 4.6

Employee Benefit Plans

Employee Benefit Plans	3 Months Ended
	Mar. 31, 2020
Compensation And Retirement Disclosure [Abstract]
Employee Benefit Plans	21. Employee Benefit Plans The Company provides certain pension, health care and death benefits to eligible retirees and their dependents. The funding mechanism for such benefits varies based on the country where the retiree resides and receives benefits. Eligibility for pension coverage is based on retirement qualifications. Healthcare benefits may be subject to deductibles, co-payments and other limitations. The Company reserves the right to modify benefits unless prohibited by local laws or regulations. The components of periodic benefit costs for the three months ended March 31, 2020 and 2019 are summarized as follows: Three Months Ended March 31, 2020 Postretirement U.S. Non-U.S. Health and Pension Pension Other Plans Plans Plans Service cost - benefits earned during the period $ — $ 0.5 $ 0.1 Interest cost of projected benefit obligations 1.0 0.4 0.1 Expected return on plan assets (1.3 ) (0.2 ) — Amortization of prior service cost — — (0.7 ) Amortization of actuarial net loss 0.7 0.4 — Net periodic benefit costs $ 0.4 $ 1.1 $ (0.5 ) Three Months Ended March 31, 2019 Postretirement U.S. Non-U.S. Health and Pension Pension Other Plans Plans Plans Service cost - benefits earned during the period $ — $ 0.5 $ 0.1 Interest cost of projected benefit obligations 1.3 0.5 0.2 Expected return on plan assets (1.1 ) (0.3 ) — Amortization of prior service costs — — (0.7 ) Amortization of actuarial net loss 0.8 0.3 — Net periodic benefit costs $ 1.0 $ 1.0 $ (0.4 ) The components of net periodic benefit cost other than the service cost component are included in other expense - net in the Condensed Consolidated Statement of Operations.

Recent Accounting Changes and_2

Recent Accounting Changes and Pronouncements (Policies)	3 Months Ended
	Mar. 31, 2020
Recent Accounting Changes And Pronouncements [Abstract]
Recent Accounting Changes and Pronouncements	In December 2019, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2019-12 “Income Taxes (Topic 740).” The amendments in this ASU simplify accounting for income taxes by removing certain exceptions to the general principles in Topic 740. The amendments also improve consistent application of and simplify GAAP for other areas of Topic 740 by clarifying and amending existing guidance. The standard is effective for annual periods beginning after December 15, 2020. The Company is currently evaluating the impact the adoption of the ASU will have on the Company’s consolidated financial statements. In August 2018, the FASB issued ASU No. 2018-15 “Intangibles – Goodwill and Other – Internal-use Software (Subtopic 250-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement that is a Service Contract.” The amendments in this ASU align the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. The standard is effective for annual periods beginning after December 15, 2019. The adoption of the ASU did not have a material impact on the Company’s condensed consolidated financial statements. In June 2016, the FASB issued ASU 2016-13, “Financial Instruments - Credit Losses,” which requires the Company to measure all expected credit losses for financial instruments held at the reporting date based on historical experience, current conditions and reasonable supportable forecasts. The new guidance is applicable to financial assets measured at amortized cost, net investments in leases and certain off-balance sheet credit exposures. The standard was effective for annual periods beginning after December 15, 2019. The adoption of the ASU resulted in a $0.2 million reduction in beginning retained earnings and a corresponding reduction in accounts receivable on the Company’s Condensed Consolidated Balance Sheets as of March 31, 2020. There was no material impact to the Company’s Condensed Consolidated Statements of Operations or Condensed Consolidated Statements of Cash Flows.
Fair Value Measurement	Accounting Standards Codification (“ASC”) Topic 820-10, “Fair Value Measurement,” defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. ASC Topic 820-10 classifies the inputs used to measure fair value into the following hierarchy: Level 1 Unadjusted quoted prices in active markets for identical assets or liabilities Level 2 Unadjusted quoted prices in active markets for similar assets or liabilities, or Unadjusted quoted prices for identical or similar assets or liabilities in markets that are not active, or Inputs other than quoted prices that are observable for the asset or liability Level 3 Unobservable inputs for the asset or liability

Revenues (Tables)

Revenues (Tables)	3 Months Ended
	Mar. 31, 2020
Revenue From Contract With Customer [Abstract]
Schedule of Change In Customer Advances Balance	The table below shows the change in the customer advances balance for the three months ended March 31, 2020 and 2019 which are included in current liabilities in the Condensed Consolidated Balance Sheets. Three Months Ended March 31, 2020 2019 Balance at beginning of period $ 25.8 $ 9.6 Cash received in advance of satisfying performance obligation 28.9 31.9 Revenue recognized (32.5 ) (28.3 ) Currency translation (1.2 ) 0.1 Balance at end of period $ 21.0 $ 13.3

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2020
Fair Value Disclosures [Abstract]
Financial Assets and Liabilities Recorded within Condensed Consolidated Balance Sheets and Accounted for at Fair Value on a Recurring Basis by Level within the Fair Value Hierarchy	The following tables set forth the Company’s financial assets and liabilities that were recorded within the Condensed Consolidated Balance Sheets and accounted for at fair value as of March 31, 2020 and December 31, 2019, by level within the fair value hierarchy. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. Fair Value as of March 31, 2020 Level 1 Level 2 Level 3 Total Recognized Location Current Assets: Forward currency exchange contracts $ — $ 0.1 $ — $ 0.1 Other current assets Current Liabilities: Forward currency exchange contracts $ — $ 0.2 $ — $ 0.2 Accounts payable and accrued expenses

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2020
Foreign Currency Exchange Contracts
Derivative Instruments Gain Loss [Line Items]
Summary of Gains or Losses Recorded in Consolidated Statement of Operations for FX Forward Contracts	The following table provides the amount of gain or losses recorded in the Condensed Consolidated Statement of Operations for FX Forward Contracts for the three months ended March 31, 2020 and 2019. Three Months Ended March 31, Recognized Location 2020 2019 Designated Cost of sales $ 0.1 $ 0.8 Non-Designated Other income (expense) - net $ — $ 0.7

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2020
Inventory Disclosure [Abstract]
Schedule of the components of inventories	The components of inventories as of March 31, 2020 and December 31, 2019 are summarized as follows: March 31, 2020 December 31, 2019 Raw materials $ 157.3 $ 156.3 Work-in-process 142.2 116.3 Finished goods 297.5 239.4 Total inventories 597.0 512.0 Excess and obsolete inventory reserve (51.4 ) (50.6 ) Inventories — net $ 545.6 $ 461.4

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	3 Months Ended
	Mar. 31, 2020
Property Plant And Equipment [Abstract]
Components of Property, Plant and Equipment	The components of property, plant and equipment at March 31, 2020 and December 31, 2019 are summarized as follows: March 31, 2020 December 31, 2019 Land $ 23.3 $ 24.0 Building and improvements 193.8 197.3 Machinery, equipment and tooling 271.9 274.2 Furniture and fixtures 18.3 18.5 Computer hardware and software 119.3 119.3 Rental cranes 73.1 77.7 Construction in progress 8.5 11.2 Total cost 708.2 722.2 Less accumulated depreciation (430.6 ) (432.3 ) Property, plant and equipment-net $ 277.6 $ 289.9

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2020
Goodwill And Intangible Assets Disclosure [Abstract]
Changes in goodwill by reportable segment	The changes in the carrying amount of goodwill for the year ended December 31, 2019 and the three months ended March 31, 2020 are summarized as follows: Americas MEAP Consolidated Balance as of January 1, 2019 $ 166.5 $ 66.3 $ 232.8 Foreign currency impact — (0.3 ) (0.3 ) Balance as of December 31, 2019 166.5 66.0 232.5 Foreign currency impact — (2.2 ) (2.2 ) Balance as of March 31, 2020 $ 166.5 $ 63.8 $ 230.3
Gross carrying amount, accumulated amortization and net book value of intangible assets other than goodwill	The gross carrying amount, accumulated amortization and net book value of the Company’s intangible assets other than goodwill at March 31, 2020 and December 31, 2019 are summarized as follows: March 31, 2020 December 31, 2019 Gross Carrying Amount Accumulated Amortization Net Book Value Gross Carrying Amount Accumulated Amortization Net Book Value Trademarks and tradenames $ 94.2 $ — $ 94.2 $ 95.3 $ — $ 95.3 Customer relationships 9.7 (8.2 ) 1.5 10.0 (8.5 ) 1.5 Patents 29.2 (28.4 ) 0.8 29.5 (28.7 ) 0.8 Distribution network 18.4 — 18.4 18.7 — 18.7 Net balance $ 151.5 $ (36.6 ) $ 114.9 $ 153.5 $ (37.2 ) $ 116.3

Accounts Payable and Accrued _2

Accounts Payable and Accrued Expenses (Tables)	3 Months Ended
	Mar. 31, 2020
Payables And Accruals [Abstract]
Schedule of accounts payable and accrued expenses	Accounts payable and accrued expenses at March 31, 2020 and December 31, 2019 are summarized as follows: March 31, 2020 December 31, 2019 Trade accounts payable $ 211.5 $ 187.1 Employee-related expenses 39.4 56.6 Accrued vacation 21.4 20.2 Miscellaneous accrued expenses 86.1 76.9 Total accounts payable and accrued expenses $ 358.4 $ 340.8

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2020
Debt Disclosure [Abstract]
Schedule of outstanding debt	Outstanding debt at March 31, 2020 and December 31, 2019 are summarized as follows: March 31, 2020 December 31, 2019 Senior secured asset based revolving credit facility $ — $ — Senior secured second lien notes due 2026 300.0 300.0 Other 16.2 16.7 Deferred financing costs (4.4 ) (4.5 ) Total debt 311.8 312.2 Short-term borrowings and current portion of long-term debt (3.9 ) (3.8 ) Long-term debt $ 307.9 $ 308.4
Schedule of revolving credit facility bear interest at variable rate based upon average quarterly availability	Borrowings under the ABL Revolving Credit Facility bear interest at a variable rate using either the Alternative Base Rate or the Eurodollar and Overnight London Interbank Offer Rate (“LIBOR”). The variable interest rate is based upon the average quarterly availability as of the most recent determination date as follows: Average quarterly availability Alternative base rate spread Eurodollar and overnight LIBOR spread ≥ 50% of Aggregate Commitment 0.25% 1.25% < 50% of Aggregate Commitment 0.50% 1.50%

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	3 Months Ended
	Mar. 31, 2020
Earnings Per Share [Abstract]
Reconciliation of the average shares outstanding used to compute basic and diluted earnings per share	The following is a reconciliation of the average shares outstanding used to compute basic and diluted earnings per share: Three Months Ended March 31, 2020 2019 Basic weighted average common shares outstanding 35,135,525 35,642,832 Effect of dilutive securities - stock awards — — Diluted weighted average common shares outstanding 35,135,525 35,642,832

Equity (Tables)

Equity (Tables)	3 Months Ended
	Mar. 31, 2020
Equity [Abstract]
Schedule of Components of Accumulated Other Comprehensive Income (Loss)	A reconciliation of the changes in accumulated other comprehensive loss, net of income tax, by component for the three months ended March 31, 2020 and 2019 are summarized as follows: Gains and Losses on Cash Flow Hedges Pension & Postretirement Foreign Currency Translation Total Balance at December 31, 2018 $ (0.3 ) $ (36.2 ) $ (80.1 ) $ (116.6 ) Other comprehensive income (loss) before reclassifications (0.7 ) 0.1 (2.5 ) (3.1 ) Amounts reclassified from accumulated other comprehensive loss 0.8 0.4 — 1.2 Net other comprehensive income (loss) 0.1 0.5 (2.5 ) (1.9 ) Balance at March 31, 2019 $ (0.2 ) $ (35.7 ) $ (82.6 ) $ (118.5 ) Balance at December 31, 2019 $ — $ (39.9 ) $ (81.1 ) $ (121.0 ) Other comprehensive income (loss) before reclassifications (0.1 ) 1.1 (13.6 ) (12.6 ) Amounts reclassified from accumulated other comprehensive loss 0.1 0.1 — 0.2 Net other comprehensive income (loss) — 1.2 (13.6 ) (12.4 ) Balance at March 31, 2020 $ — $ (38.7 ) $ (94.7 ) $ (133.4 )
Reconciliation of reclassifications from accumulated other comprehensive income (loss), net of income tax	A reconciliation of the reclassifications from accumulated other comprehensive loss, net of income tax, for the three months ended March 31, 2020 and 2019 are summarized as follows : Amount Reclassified from Accumulated Other Comprehensive Loss Three Months Ended March 31, 2020 Three Months Ended March 31, 2019 Recognized Location Gains and losses on cash flow hedges FX Forward Contracts $ (0.1 ) $ (0.8 ) Cost of sales Total before income taxes (0.1 ) (0.8 ) Provision for income taxes — — Total, net of income taxes $ (0.1 ) $ (0.8 ) Amortization of pension and postretirement items Actuarial losses $ (1.1 ) $ (1.1 ) (a) Other expense - net Amortization of prior service cost 0.7 0.7 (a) Other expense - net Total before income taxes (0.4 ) (0.4 ) Provision for income taxes 0.3 - Total, net of income taxes $ (0.1 ) $ (0.4 ) Total reclassifications for the period, net of income taxes $ (0.2 ) $ (1.2 ) (a) These accumulated other comprehensive income (loss) components are components of net periodic pension cost (see Note 21, “Employee Benefit Plans,” for further details)

Segments (Tables)

Segments (Tables)	3 Months Ended
	Mar. 31, 2020
Segment Reporting [Abstract]
Schedule of Information by Reportable Segment	The following table shows information by reportable segment for the three months ended March 31, 2020 and 2019: Three Months Ended March 31, 2020 2019 Net Sales Americas $ 156.2 $ 206.1 EURAF 122.9 154.2 MEAP 50.1 57.7 Total $ 329.2 $ 418.0 Segment Operating Income Americas $ 9.1 $ 15.2 EURAF (0.4 ) 3.4 MEAP 6.3 7.3 Total $ 15.0 $ 25.9 Depreciation Americas $ 4.0 $ 3.6 EURAF 3.8 3.7 MEAP 0.5 0.7 Corporate 0.7 0.8 Total $ 9.0 $ 8.8 Capital Expenditures Americas $ 0.3 $ 2.8 EURAF 3.3 0.8 MEAP — 0.8 Corporate — — Total $ 3.6 $ 4.4
Schedule of Reconciliation of the Company's Segment Operating Income	A reconciliation of the Company’s segment operating income to operating income in the Condensed Consolidated Statement of Operations for the three months ended March 31, 2020 and 2019 are summarized as follows: Three Months Ended March 31, 2020 2019 Segment operating income $ 15.0 $ 25.9 Unallocated corporate expenses (9.3 ) (9.3 ) Unallocated restructuring expense — (0.1 ) Unallocated other operating income (expense) - net — (0.3 ) Total operating income $ 5.7 $ 16.2
Schedule of Net Sales by Geographic Area	Net sales by geographic area for the three months ended March 31, 2020 and 2019 are summarized as follows: Three Months Ended March 31, 2020 2019 United States $ 142.7 $ 184.7 Europe 119.5 149.1 Other 67.0 84.2 Total $ 329.2 $ 418.0
Schedule of Net Sales By Product	Net sales by product for the three months ended March 31, 2020 and 2019 are summarized as follows: Three Months Ended March 31, 2020 2019 Cranes $ 248.6 $ 333.5 Aftermarket parts and other* 80.6 84.5 Total net sales $ 329.2 $ 418.0 *Other consists of sales related to CraneCare services such as trainings and field service work.

Guarantees (Tables)

Guarantees (Tables)	3 Months Ended
	Mar. 31, 2020
Guarantees [Abstract]
Summary of Warranty Activity	Below is a table summarizing the warranty activity for the three months ended March 31, 2020 and 2019: Three Months Ended March 31, 2020 2019 Balance at beginning of period $ 60.6 $ 47.8 Accruals for warranties issued during the period 8.6 7.0 Settlements made (in cash or in kind) during the period (8.8 ) (8.8 ) Currency translation (0.7 ) (0.3 ) Balance at end of period $ 59.7 $ 45.7

Restructuring (Tables)

Restructuring (Tables)	3 Months Ended
	Mar. 31, 2020
Restructuring And Related Activities [Abstract]
Rollforward of all restructuring accrual	The following is a rollforward of the Company's restructuring accrual for the three months ended March 31, 2020 and 2019: Three Months Ended March 31, 2020 2019 Balance at beginning of period $ 2.0 $ 3.3 Restructuring expenses 1.5 4.5 Use of reserve (1.1 ) (3.0 ) Reserve reclassification — (0.2 ) Currency translation — — Balance at end of period $ 2.4 $ 4.6

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	3 Months Ended
	Mar. 31, 2020
Compensation And Retirement Disclosure [Abstract]
Schedule of components of period benefit costs	The components of periodic benefit costs for the three months ended March 31, 2020 and 2019 are summarized as follows: Three Months Ended March 31, 2020 Postretirement U.S. Non-U.S. Health and Pension Pension Other Plans Plans Plans Service cost - benefits earned during the period $ — $ 0.5 $ 0.1 Interest cost of projected benefit obligations 1.0 0.4 0.1 Expected return on plan assets (1.3 ) (0.2 ) — Amortization of prior service cost — — (0.7 ) Amortization of actuarial net loss 0.7 0.4 — Net periodic benefit costs $ 0.4 $ 1.1 $ (0.5 ) Three Months Ended March 31, 2019 Postretirement U.S. Non-U.S. Health and Pension Pension Other Plans Plans Plans Service cost - benefits earned during the period $ — $ 0.5 $ 0.1 Interest cost of projected benefit obligations 1.3 0.5 0.2 Expected return on plan assets (1.1 ) (0.3 ) — Amortization of prior service costs — — (0.7 ) Amortization of actuarial net loss 0.8 0.3 — Net periodic benefit costs $ 1.0 $ 1.0 $ (0.4 )

Accounting Policies and Basis_2

Accounting Policies and Basis of Presentation - Narrative (Details) crane in Thousands	3 Months Ended
	Mar. 31, 2020cranesegment
Accounting Policies [Abstract]
Period of providing high-quality, customer-focused products and support services	117 years
Number of cranes serviced | crane	149
Number of reportable segments | segment	3

Recent Accounting Changes and_3

Recent Accounting Changes and Pronouncements - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Reduction in accounts receivable	$ 5.6	$ 195.7
ASU 2016-13
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Reduction in beginning retained earnings	(0.2)
Reduction in accounts receivable	$ (0.2)

Revenues - Schedule of Change I

Revenues - Schedule of Change In Customer Advances Balance (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Revenue From Contract With Customer [Abstract]
Balance at beginning of period	$ 25.8	$ 9.6
Cash received in advance of satisfying performance obligation	28.9	31.9
Revenue recognized	(32.5)	(28.3)
Currency translation	(1.2)	0.1
Balance at end of period	$ 21	$ 13.3

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Financial assets and liabilities recorded within Condensed Consolidated Balance Sheets and accounted for at fair value on a recurring basis by level within the fair value hierarchy (Details) - Estimate of Fair Value Measurement - Fair Value, Measurements, Recurring - Forward currency exchange contracts - USD ($) $ in Millions	Mar. 31, 2020	Mar. 31, 2019
Other current assets
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivatives assets, current	$ 0.1	$ 0.1
Accounts payable and accrued expenses
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative liabilities, current	0.2	0.1
Level 2 | Other current assets
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivatives assets, current	0.1	0.1
Level 2 | Accounts payable and accrued expenses
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative liabilities, current	$ 0.2	$ 0.1

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Narrative (Details) - Senior Notes Due 2026 - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 25, 2019
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Debt instruments at fair value	$ 266
Interest rate, stated percentage (as a percent)	9.00%	9.00%
Debt instrument maturity date	Apr. 1, 2026

Derivative Financial Instrume_3

Derivative Financial Instruments - Narrative (Details) - USD ($)	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Derivatives Fair Value [Line Items]
Unrealized gain (losses) net of income tax	$ 0	$ 0
Forward currency exchange contracts
Derivatives Fair Value [Line Items]
Derivative, notional amount	$ 24,400,000	32,600,000
Derivative remaining maturity period	1 year
Derivative net current liability	$ 100,000	$ 0

Derivative Financial Instrume_4

Derivative Financial Instruments - Summary of Gains or Losses Recorded in Consolidated Statement of Operations for FX Forward Contracts (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Designated | Cost of Sales
Derivative Instruments Gain Loss [Line Items]
Designated	$ 0.1	$ 0.8
Non-Designated | Other Income (Expense) - Net
Derivative Instruments Gain Loss [Line Items]
Designated		$ 0.7

Inventories - Components of Inv

Inventories - Components of Inventories (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Inventory Disclosure [Abstract]
Raw materials	$ 157.3	$ 156.3
Work-in-process	142.2	116.3
Finished goods	297.5	239.4
Total inventories	597	512
Excess and obsolete inventory reserve	(51.4)	(50.6)
Inventories — net	$ 545.6	$ 461.4

Notes Receivable - Narrative (D

Notes Receivable - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Mar. 31, 2020
Receivables [Abstract]
Notes receivable, write-off	$ 2.8
Notes receivable, current	17.4	$ 15.1
Notes receivable, long term	$ 16.3	$ 16

Property, Plant and Equipment -

Property, Plant and Equipment - Components of property, plant and equipment (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment
Total cost	$ 708.2	$ 722.2
Less accumulated depreciation	(430.6)	(432.3)
Property, plant and equipment-net	277.6	289.9
Land
Property, Plant and Equipment
Total cost	23.3	24
Building and Improvements
Property, Plant and Equipment
Total cost	193.8	197.3
Machinery, Equipment and Tooling
Property, Plant and Equipment
Total cost	271.9	274.2
Furniture and Fixtures
Property, Plant and Equipment
Total cost	18.3	18.5
Computer Hardware and Software
Property, Plant and Equipment
Total cost	119.3	119.3
Rental Cranes
Property, Plant and Equipment
Total cost	73.1	77.7
Construction in Progress
Property, Plant and Equipment
Total cost	$ 8.5	$ 11.2

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Changes in goodwill by reportable segment (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Goodwill
Balance at the beginning of the period	$ 232.5	$ 232.8
Foreign currency impact	(2.2)	(0.3)
Balance at the end of the period	230.3	232.5
Americas
Goodwill
Balance at the beginning of the period	166.5	166.5
Balance at the end of the period	166.5	166.5
Middle East and Asia Pacific ("MEAP")
Goodwill
Balance at the beginning of the period	66	66.3
Foreign currency impact	(2.2)	(0.3)
Balance at the end of the period	$ 63.8	$ 66

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Gross carrying amount and accumulated amortization of the company's intangible assets other than goodwill (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Intangible asset balances by major asset class
Intangible assets, gross (excluding goodwill)	$ 151.5	$ 153.5
Finite-lived intangible assets, amortization amount	(36.6)	(37.2)
Intangible assets, book value	114.9	116.3
Customer Relationships
Intangible asset balances by major asset class
Finite-lived intangible assets, carrying amount	9.7	10
Finite-lived intangible assets, amortization amount	(8.2)	(8.5)
Finite-lived intangible assets, book value	1.5	1.5
Patents
Intangible asset balances by major asset class
Finite-lived intangible assets, carrying amount	29.2	29.5
Finite-lived intangible assets, amortization amount	(28.4)	(28.7)
Finite-lived intangible assets, book value	0.8	0.8
Distribution Network
Intangible asset balances by major asset class
Finite-lived intangible assets, carrying amount	18.4	18.7
Finite-lived intangible assets, book value	18.4	18.7
Trademarks and Tradenames
Intangible asset balances by major asset class
Indefinite-lived intangible assets, book value	$ 94.2	$ 95.3

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Goodwill And Intangible Assets Disclosure [Abstract]
Amortization expense	$ 0.1	$ 0.1

Accounts Payable and Accrued _3

Accounts Payable and Accrued Expenses - Schedule of Accounts Payable and Accured Expenses (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Payables And Accruals [Abstract]
Trade accounts payable	$ 211.5	$ 187.1
Employee-related expenses	39.4	56.6
Accrued vacation	21.4	20.2
Miscellaneous accrued expenses	86.1	76.9
Total accounts payable and accrued expenses	$ 358.4	$ 340.8

Debt - Schedule of outstanding

Debt - Schedule of outstanding debt (Details) - USD ($)	Mar. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Total debt	$ 311,800,000	$ 312,200,000
Deferred financing costs	(4,400,000)	(4,500,000)
Short-term borrowings and current portion of long-term debt	(3,900,000)	(3,800,000)
Long-term debt	307,900,000	308,400,000
ABL Revolving Credit Facility
Debt Instrument [Line Items]
Senior secured asset based revolving credit facility	0	0
Senior Notes Due 2026
Debt Instrument [Line Items]
Total debt	300,000,000	300,000,000
Other
Debt Instrument [Line Items]
Total debt	$ 16,200,000	$ 16,700,000

Debt - Narrative (Details)

Debt - Narrative (Details) - USD ($)	Mar. 25, 2019	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019	Mar. 03, 2016
Debt Instrument [Line Items]
Debt instrument charge from refinancing			$ 25,000,000
Unamortized debt issuance costs		$ 4,400,000		$ 4,500,000
Carrying amount		$ 311,800,000		312,200,000
Period for which the entity will be able to comply with the financial covenants		12 months
Senior Notes Due 2026
Debt Instrument [Line Items]
Face amount of debt	$ 300,000,000
Debt instrument interest rate	9.00%	9.00%
Debt instrument maturity date		Apr. 1, 2026
Interest on the notes		Interest on the 2026 Notes is payable in cash semi-annually in arrears on April 1 and October 1 of each year.
Carrying amount		$ 300,000,000		300,000,000
ABL Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity under revolving credit facility	$ 275,000,000				$ 225,000,000
Line of credit outstanding		0		0
Excess capacity		240,200,000
Line of credit borrowing capacity		$ 244,200,000
ABL Revolving Credit Facility | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)		1.25%
ABL Revolving Credit Facility | Prime Rate
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)		0.25%
ABL Revolving Credit Facility | Line of Credit
Debt Instrument [Line Items]
Debt term (in years)	5 years
ABL Revolving Credit Facility | Letter of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity under revolving credit facility	$ 75,000,000
Line of credit outstanding		$ 4,000,000
ABL Revolving Credit Facility | Letter of Credit | German Borrowers
Debt Instrument [Line Items]
Maximum borrowing capacity under revolving credit facility	$ 10,000,000
Senior Notes Due 2021
Debt Instrument [Line Items]
Debt instrument interest rate	12.75%
Maximum borrowing capacity under revolving credit facility	$ 260,000,000
Debt instrument call premium	16,600,000		16,600,000
Closing costs of debt	5,000,000
Accrued interest of debt	4,600,000
Debt instrument unamortized discount			5,300,000
Unamortized debt issuance costs			$ 3,100,000
Accounts Receivable Securitization Facility
Debt Instrument [Line Items]
Maximum borrowing capacity under revolving credit facility	$ 75,000,000
Other
Debt Instrument [Line Items]
Carrying amount		$ 16,200,000		$ 16,700,000
Weighted average interest rate (as a percent)		5.14%

Debt - Schedule of Revolving Cr

Debt - Schedule of Revolving Credit Facility Bear Interest at Variable Rate Based Upon Average Quarterly Availability (Details) - ABL Revolving Credit Facility	3 Months Ended
	Mar. 31, 2020
Greater Than or Equal to 50% of Aggregate Commitment | Alternative Base Rate Spread
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)	0.25%
Greater Than or Equal to 50% of Aggregate Commitment | Eurodollar and Overnight LIBOR Spread
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)	1.25%
Less Than 50% of Aggregate Commitment | Alternative Base Rate Spread
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)	0.50%
Less Than 50% of Aggregate Commitment | Eurodollar and Overnight LIBOR Spread
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)	1.50%

Accounts Receivable Securitiz_2

Accounts Receivable Securitization and Other Factoring Arrangements - Narrative (Details) € in Millions	3 Months Ended			12 Months Ended
	Mar. 31, 2020USD ($)	Mar. 31, 2020EUR (€)	Mar. 31, 2019USD ($)	Dec. 31, 2019EUR (€)	Dec. 31, 2018EUR (€)
Accounts Receivable Securitization
Accounts receivable balance sold	$ 0	€ 36.5	$ 149,000,000
Proceeds from collection of receivables	0	€ 36.5	182,800,000
Non-cash investing activities related to increase in deferred purchase price	0		$ 168,300,000
Maximum availability under these programs | €				€ 55	€ 45
Maximum
Accounts Receivable Securitization
Capacity of securitization program	$ 75,000,000

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Provision for income taxes	$ 1.9	$ 3.3
Unrecognized tax benefits	$ 11.6		$ 11.5

Net Loss Per Share - Narrative

Net Loss Per Share - Narrative (Details) - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Earnings Per Share [Abstract]
Basic weighted average common shares outstanding	35,135,525	35,642,832
Dividends	$ 0	$ 0

Net Loss Per Share - Reconcilia

Net Loss Per Share - Reconciliation of the average shares outstanding used to compute basic and diluted earnings per share (Details) - shares	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Earnings Per Share [Abstract]
Basic weighted average common shares outstanding (in shares)	35,135,525	35,642,832
Diluted weighted average common shares outstanding (in shares)	35,135,525	35,642,832

Equity - Narrative (Details)

Equity - Narrative (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Class Of Stock [Line Items]
Common stock, shares authorized (in shares)	75,000,000	75,000,000
Par value of common stock (in dollars per share)	$ 0.01
Preferred stock, shares authorized (in shares)	3,500,000	3,500,000
Par value of preferred stock per share (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares issued (in shares)	0
Stock repurchase program, remaining authorized amount	$ 10,600,000
Common Stock
Class Of Stock [Line Items]
Common stock repurchased, Value	$ 12,000,000
Common stock repurchased, Shares	1,061,711	473,042
Maximum | Common Stock
Class Of Stock [Line Items]
Stock repurchase program, authorized amount	$ 30,000,000

Equity - Reconciliation of accu

Equity - Reconciliation of accumulated other comprehensive loss (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Increase (Decrease) in Equity [Roll Forward]
Beginning balance	$ 645.9
Total other comprehensive loss, net of income tax	(12.4)	$ (1.9)
Ending balance	616.7
Gains and Losses on Cash Flow Hedges
Increase (Decrease) in Equity [Roll Forward]
Beginning balance		(0.3)
Other comprehensive income (loss) before reclassifications	(0.1)	(0.7)
Amounts reclassified from accumulated other comprehensive loss	0.1	0.8
Total other comprehensive loss, net of income tax		0.1
Ending balance		(0.2)
Pension & Postretirement
Increase (Decrease) in Equity [Roll Forward]
Beginning balance	(39.9)	(36.2)
Other comprehensive income (loss) before reclassifications	1.1	0.1
Amounts reclassified from accumulated other comprehensive loss	0.1	0.4
Total other comprehensive loss, net of income tax	1.2	0.5
Ending balance	(38.7)	(35.7)
Foreign Currency Translation
Increase (Decrease) in Equity [Roll Forward]
Beginning balance	(81.1)	(80.1)
Other comprehensive income (loss) before reclassifications	(13.6)	(2.5)
Total other comprehensive loss, net of income tax	(13.6)	(2.5)
Ending balance	(94.7)	(82.6)
Accumulated Other Comprehensive Loss
Increase (Decrease) in Equity [Roll Forward]
Beginning balance	(121)	(116.6)
Other comprehensive income (loss) before reclassifications	(12.6)	(3.1)
Amounts reclassified from accumulated other comprehensive loss	0.2	1.2
Total other comprehensive loss, net of income tax	(12.4)	(1.9)
Ending balance	$ (133.4)	$ (118.5)

Equity - Reconciliation of Recl

Equity - Reconciliation of Reclassifications From Accumulated Other Comprehensive Income (Loss), Net of Income Tax (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Schedule of Reclassifications out of Accumulated Comprehensive Income (Loss) [Line Items]
Cost of sales	$ 266	$ 337.8
Total before income taxes	(5.9)	(23.4)
Provision for income taxes	(1.9)	(3.3)
Net loss	(7.8)	(26.7)
Other expense - net	(4)	(3.3)
Reclassification out of Accumulated Other Comprehensive Income
Schedule of Reclassifications out of Accumulated Comprehensive Income (Loss) [Line Items]
Net loss	(0.2)	(1.2)
Gains and Losses on Cash Flow Hedges | Reclassification out of Accumulated Other Comprehensive Income
Schedule of Reclassifications out of Accumulated Comprehensive Income (Loss) [Line Items]
Total before income taxes	(0.1)	(0.8)
Net loss	(0.1)	(0.8)
Gains and Losses on Cash Flow Hedges | Reclassification out of Accumulated Other Comprehensive Income | Foreign Currency Exchange Contracts
Schedule of Reclassifications out of Accumulated Comprehensive Income (Loss) [Line Items]
Cost of sales	(0.1)	(0.8)
Actuarial Losses | Reclassification out of Accumulated Other Comprehensive Income
Schedule of Reclassifications out of Accumulated Comprehensive Income (Loss) [Line Items]
Other expense - net	(1.1)	(1.1)
Amortization of Prior Service Cost | Reclassification out of Accumulated Other Comprehensive Income
Schedule of Reclassifications out of Accumulated Comprehensive Income (Loss) [Line Items]
Other expense - net	0.7	0.7
Pension & Postretirement | Reclassification out of Accumulated Other Comprehensive Income
Schedule of Reclassifications out of Accumulated Comprehensive Income (Loss) [Line Items]
Total before income taxes	(0.4)	(0.4)
Provision for income taxes	0.3
Net loss	$ (0.1)	$ (0.4)

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Stock-Based Compensation
Share-based compensation, remaining shares available for issuance (in shares)	4,603,138
Stock-based compensation expense (in dollars)	$ 3.4	$ 3.1
Director
Stock-Based Compensation
Number of share options granted during the period (in shares)	77,608	50,673
Stock Options
Stock-Based Compensation
Number of share options granted during the period (in shares)	250,432	210,243
Restricted Stock Units
Stock-Based Compensation
Vesting period (in years)	3 years
Number of shares of other than options granted during the period (in shares)	277,449	176,371
Performance Shares
Stock-Based Compensation
Vesting period (in years)	3 years
Number of shares of other than options granted during the period (in shares)	321,599	228,037
Options Granted in 2020 | Stock Options
Stock-Based Compensation
Vesting period (in years)	3 years
Expiration period (in years)	10 years
Options Granted in 2019 | Stock Options
Stock-Based Compensation
Vesting period (in years)		3 years
Expiration period (in years)		10 years
2013 Omnibus Plan
Stock-Based Compensation
Share-based compensation, shares authorized (in shares)	7,477,395
Performance Shares 2020 | Performance Shares
Stock-Based Compensation
Percentage of shares paid based on total shareholder return relative to defined peer group (as a percent)	100.00%
Percentage of shares paid based on adjusted EBITDA (as a percent)	100.00%
Performance period (in years)	3 years
Increase decrease in percentage of shares paid based on total shareholder return relative to defined peer group	20.00%
Performance Shares 2019 | Performance Shares
Stock-Based Compensation
Percentage of shares paid based on total shareholder return relative to defined peer group (as a percent)		50.00%
Percentage of shares paid based on adjusted EBITDA (as a percent)		50.00%
Performance period (in years)		3 years

Segments - Narrative (Details)

Segments - Narrative (Details)	3 Months Ended
	Mar. 31, 2020segment
Segment Reporting [Abstract]
Number of reportable segments	3

Segments - Schedule of Informat

Segments - Schedule of Information by Reportable Segment (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Segment Reporting Information [Line Items]
Net Sales	$ 329.2	$ 418
Operating (loss) income	5.7	16.2
Depreciation	9	8.8
Capital Expenditures	3.6	4.4
Segment Operating Income
Segment Reporting Information [Line Items]
Operating (loss) income	15	25.9
Segment Operating Income | Americas
Segment Reporting Information [Line Items]
Net Sales	156.2	206.1
Operating (loss) income	9.1	15.2
Depreciation	4	3.6
Capital Expenditures	0.3	2.8
Segment Operating Income | EURAF
Segment Reporting Information [Line Items]
Net Sales	122.9	154.2
Operating (loss) income	(0.4)	3.4
Depreciation	3.8	3.7
Capital Expenditures	3.3	0.8
Segment Operating Income | Middle East and Asia Pacific ("MEAP")
Segment Reporting Information [Line Items]
Net Sales	50.1	57.7
Operating (loss) income	6.3	7.3
Depreciation	0.5	0.7
Capital Expenditures		0.8
Corporate
Segment Reporting Information [Line Items]
Operating (loss) income	(9.3)	(9.3)
Depreciation	$ 0.7	$ 0.8

Segments - Schedule of Reconcil

Segments - Schedule of Reconciliation of the Company's Segment Operating Income (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Segment Reporting Reconciling Item For Operating Profit Loss From Segment To Consolidated [Line Items]
Total operating income	$ 5.7	$ 16.2
Restructuring expense	1.5	4.5
Segment Operating Income
Segment Reporting Reconciling Item For Operating Profit Loss From Segment To Consolidated [Line Items]
Total operating income	15	25.9
Corporate
Segment Reporting Reconciling Item For Operating Profit Loss From Segment To Consolidated [Line Items]
Total operating income	(9.3)	(9.3)
Reconciliation of Company's Segment Operating Income
Segment Reporting Reconciling Item For Operating Profit Loss From Segment To Consolidated [Line Items]
Total operating income	$ 5.7	16.2
Restructuring expense		(0.1)
Unallocated other operating income (expense) - net		$ (0.3)

Segments - Schedule of Net Sale

Segments - Schedule of Net Sales by Geographic Area (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Revenues from External Customers [Line Items]
Net sales	$ 329.2	$ 418
United States
Revenues from External Customers [Line Items]
Net sales	142.7	184.7
Europe
Revenues from External Customers [Line Items]
Net sales	119.5	149.1
Other
Revenues from External Customers [Line Items]
Net sales	$ 67	$ 84.2

Segments - Schedule of Net Sa_2

Segments - Schedule of Net Sales By Product (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Product Information [Line Items]
Total net sales	$ 329.2	$ 418
Cranes
Product Information [Line Items]
Total net sales	248.6	333.5
Aftermarket Parts and Other
Product Information [Line Items]
Total net sales	$ 80.6	$ 84.5

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details) - USD ($)	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Commitments And Contingencies [Line Items]
Period over which product liability self-insurance retention levels have fluctuated (in years)	10 years
Product liability reserves	$ 11,100,000	$ 12,800,000
Warranty claims reserves	48,900,000	$ 48,600,000
Maximum
Commitments And Contingencies [Line Items]
Product liability self-insurance maximum retention level for new occurrence	$ 2,000,000

Guarantees - Narrative (Details

Guarantees - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Product Warranty Liability [Line Items]
Deferred revenue includes buybacks and extended warranties in accounts payable and accrued expenses and non-current liabilities	$ 36.4	$ 38
Amount of residual value guarantees and buyback commitments given by the company	$ 27.1	28.5
Standard product warranties, low end of range (in months)	12 months
Standard product warranties, high end of range (in months)	60 months
Other Noncurrent Liabilities
Product Warranty Liability [Line Items]
long-term warranty	$ 12.6	$ 13.4

Guarantees - Summary of Warrant

Guarantees - Summary of Warranty Activity (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Warranty activity
Balance at beginning of period	$ 60.6	$ 47.8
Accruals for warranties issued during the period	8.6	7
Settlements made (in cash or in kind) during the period	(8.8)	(8.8)
Currency translation	(0.7)	(0.3)
Balance at end of period	$ 59.7	$ 45.7

Restructuring - Narrative (Deta

Restructuring - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Restructuring And Related Activities [Abstract]
Restructuring expense	$ 1.5	$ 4.5

Restructuring - Rollforward of

Restructuring - Rollforward of all restructuring accrual (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Rollforward of all restructuring accrual
Balance at beginning of period	$ 2	$ 3.3
Restructuring expense	1.5	4.5
Use of reserve	(1.1)	(3)
Reserve reclassification		(0.2)
Balance at end of period	$ 2.4	$ 4.6

Employee Benefit Plans - Schedu

Employee Benefit Plans - Schedule of Components of Period Benefit Costs (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Pension Plans | U.S. Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Interest cost of projected benefit obligations	$ 1	$ 1.3
Expected return on plan assets	(1.3)	(1.1)
Amortization of actuarial net loss	0.7	0.8
Net periodic benefit costs	0.4	1
Pension Plans | Non-US Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost - benefits earned during the period	0.5	0.5
Interest cost of projected benefit obligations	0.4	0.5
Expected return on plan assets	(0.2)	(0.3)
Amortization of actuarial net loss	0.4	0.3
Net periodic benefit costs	1.1	1
Postretirement Health and Other Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost - benefits earned during the period	0.1	0.1
Interest cost of projected benefit obligations	0.1	0.2
Amortization of prior service cost	(0.7)	(0.7)
Net periodic benefit costs	$ (0.5)	$ (0.4)