Oshkosh (OSK) 10-Q 28 Jul 22 2022 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2022	Jul. 21, 2022
Cover [Abstract]
Document Type	10-Q
Entity Registrant Name	Oshkosh Corporation
Amendment Flag	false
Entity Central Index Key	0000775158
Document Period End Date	Jun. 30, 2022
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Entity Filer Category	Large Accelerated Filer
Document Fiscal Period Focus	Q2
Trading Symbol	OSK
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		65,371,562
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity File Number	1-31371
Entity Tax Identification Number	39-0520270
Entity Address, Address Line One	1917 Four Wheel Drive
Entity Address, City or Town	Oshkosh
Entity Address, State or Province	WI
Entity Address, Postal Zip Code	54902
City Area Code	920
Local Phone Number	502-3400
Security Exchange Name	NYSE
Title of 12(b) Security	Common Stock $0.01 par value
Entity Incorporation, State or Country Code	WI
Document Quarterly Report	true
Document Transition Report	false
Entity Interactive Data Current	Yes

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Income Statement [Abstract]
Net sales	$ 2,066	$ 2,208.8	$ 4,011.7	$ 4,097.8
Cost of sales	1,825.9	1,824.2	3,570.3	3,398.1
Gross income	240.1	384.6	441.4	699.7
Operating expenses:
Selling, general and administrative	167.9	177.6	337.1	349.6
Amortization of purchased intangibles	2.8	3.2	5.6	5.5
Total operating expenses	170.7	180.8	342.7	355.1
Operating income	69.4	203.8	98.7	344.6
Other income (expense):
Interest expense	(13.2)	(12.2)	(25.8)	(24)
Interest income	1.3	0.5	2.3	1.1
Miscellaneous, net	(15.1)	0.4	(14)	3.5
Income before income taxes and losses of unconsolidated affiliates	42.4	192.5	61.2	325.2
Provision for (benefit of) income taxes	13.7	(21.9)	33.9	11.3
Income before losses of unconsolidated affiliates	28.7	214.4	27.3	313.9
Equity in losses of unconsolidated affiliates	(1.8)	(0.5)	(2.5)	(0.4)
Net income	$ 26.9	$ 213.9	$ 24.8	$ 313.5
Earnings per share:
Basic	$ 0.41	$ 3.11	$ 0.38	$ 4.57
Diluted	0.41	3.07	0.37	4.51
Cash dividends declared per share on Common Stock	$ 0.37	$ 0.33	$ 0.74	$ 0.66

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 26.9	$ 213.9	$ 24.8	$ 313.5
Other comprehensive income (loss), net of tax:
Employee pension and postretirement benefits	0.4	1.1	0.8	2.3
Currency translation adjustments	(33.9)	7.7	(40.4)	(12.3)
Change in fair value of derivative instruments	4.4	0.3	5.2	0.7
Total other comprehensive income (loss), net of tax	(29.1)	9.1	(34.4)	(9.3)
Comprehensive income (loss)	$ (2.2)	$ 223	$ (9.6)	$ 304.2

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 397.4	$ 995.7
Receivables, net	1,216.4	973.4
Unbilled receivables, net	492.2	440.8
Inventories, net	1,584.3	1,382.7
Income taxes receivable	291.2	250.3
Other current assets	71.8	71.7
Total current assets	4,053.3	4,114.6
Property, plant and equipment, net	674.5	593.2
Goodwill	1,043	1,049
Purchased intangible assets, net	465.6	464
Deferred income taxes	121.4	111.5
Other long-term assets	502.1	389.5
Total assets	6,859.9	6,721.8
Current liabilities:
Revolving credit facilities	10
Accounts payable	1,011.9	747.4
Customer advances	757.1	690.9
Payroll-related obligations	146.8	118.4
Income taxes payable	60.7	222.1
Other current liabilities	352.3	364.2
Total current liabilities	2,338.8	2,143
Long-term debt, less current maturities	594.6	819
Long-term customer advances	550.2	207
Other long-term liabilities	499.3	476.4
Commitments and contingencies
Shareholders’ equity:
Preferred Stock ($0.01 par value; 2,000,000 shares authorized; none issued and outstanding)
Common Stock ($0.01 par value; 300,000,000 shares authorized; 75,101,465 shares issued)	0.7	0.7
Additional paid-in capital	802.5	792.4
Retained earnings	3,086.4	3,110.6
Accumulated other comprehensive loss	(163)	(128.6)
Common Stock in treasury, at cost (9,736,677 and 8,289,347 shares, respectively)	(849.6)	(698.7)
Total shareholders’ equity	2,877	3,076.4
Total liabilities and shareholders’ equity	$ 6,859.9	$ 6,721.8

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2022	Dec. 31, 2021
Stockholders Equity Number Of Shares Par Value And Other Disclosures [Abstract]
Preferred Stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred Stock, shares authorized	2,000,000	2,000,000
Preferred Stock, shares issued	0	0
Preferred Stock, shares outstanding	0	0
Common Stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common Stock, shares authorized	300,000,000	300,000,000
Common Stock, shares issued	75,101,465	75,101,465
Common Stock in treasury, shares	9,736,677	8,289,347

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) $ in Millions	Total	Common Stock	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Common Stock in Treasury at Cost
Balance at Dec. 31, 2020	$ 2,932.6	$ 0.7	$ 791.4	$ 2,793.5	$ (165.5)	$ (487.5)
Net income	313.5			313.5
Employee pension and postretirement benefits, net of tax	2.3				2.3
Currency translation adjustments	(12.3)				(12.3)
Cash dividends	(45.4)			(45.4)
Repurchases of Common Stock	(13)					(13)
Exercise of stock options	37.5		1			36.5
Stock-based compensation expense	13.7		13.7
Payment of stock-based restricted and performance shares			(2.2)			2.2
Shares tendered for taxes on stock-based compensation	(1.6)					(1.6)
Other	1.4		(0.4)	0.5	0.7	0.6
Balance at Jun. 30, 2021	3,228.7	0.7	803.5	3,062.1	(174.8)	(462.8)
Balance at Mar. 31, 2021	3,018.2	0.7	798.3	2,871	(183.9)	(467.9)
Net income	213.9			213.9
Employee pension and postretirement benefits, net of tax	1.1				1.1
Currency translation adjustments	7.7				7.7
Cash dividends	(22.7)			(22.7)
Repurchases of Common Stock	(13)					(13)
Exercise of stock options	19.3		1.6			17.7
Stock-based compensation expense	5.4		5.4
Payment of stock-based restricted and performance shares			(1.4)			1.4
Shares tendered for taxes on stock-based compensation	(1.6)					(1.6)
Other	0.4		(0.4)	(0.1)	0.3	0.6
Balance at Jun. 30, 2021	3,228.7	0.7	803.5	3,062.1	(174.8)	(462.8)
Balance at Dec. 31, 2021	3,076.4	0.7	792.4	3,110.6	(128.6)	(698.7)
Net income	24.8			24.8
Employee pension and postretirement benefits, net of tax	0.8				0.8
Currency translation adjustments	(40.4)				(40.4)
Cash dividends	(48.9)			(48.9)
Repurchases of Common Stock	(155)					(155)
Exercise of stock options	2.3		(0.2)			2.5
Stock-based compensation expense	13.5		13.5
Payment of stock-based restricted and performance shares			(2.8)			2.8
Shares tendered for taxes on stock-based compensation	(1.7)					(1.7)
Other	5.2		(0.4)	(0.1)	5.2	0.5
Balance at Jun. 30, 2022	2,877	0.7	802.5	3,086.4	(163)	(849.6)
Balance at Mar. 31, 2022	2,968	0.7	798.2	3,084	(133.9)	(781)
Net income	26.9			26.9
Employee pension and postretirement benefits, net of tax	0.4				0.4
Currency translation adjustments	(33.9)				(33.9)
Cash dividends	(24.4)			(24.4)
Repurchases of Common Stock	(70)					70
Exercise of stock options	0.4					0.4
Stock-based compensation expense	6.7		6.7
Payment of stock-based restricted and performance shares			(2.3)			2.3
Shares tendered for taxes on stock-based compensation	1.3					1.3
Other	4.2		(0.1)	(0.1)	4.4
Balance at Jun. 30, 2022	$ 2,877	$ 0.7	$ 802.5	$ 3,086.4	$ (163)	$ (849.6)

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Parenthetical) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Statement Of Stockholders Equity [Abstract]
Employee pension and postretirement benefits, tax	$ 0.1	$ 0.6	$ 0.2	$ 0.8
Cash dividends declared per share on common stock (in dollars per share)	$ 0.37	$ 0.33	$ 0.74	$ 0.66

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Operating activities:
Net income	$ 24.8	$ 313.5
Depreciation and amortization	53.3	51
Stock-based incentive compensation	13.5	13.7
Deferred income taxes	6.2	22.6
Gain on sale of assets	(1.7)	(4.4)
Unrealized loss on investments	11.2
Foreign currency transactions	2.4	(3.1)
Other non-cash adjustments	2.6	0.3
Changes in operating assets and liabilities	(135.2)	55.1
Net cash (used in) provided by operating activities	(22.9)	448.7
Investing activities:
Additions to property, plant and equipment	(110.3)	(39.2)
Additions to equipment held for rental	(4.6)	(5.5)
Acquisition of business, net of cash acquired	(19.5)	(112.6)
Proceeds from sale of equipment held for rental	5.4	6.6
Acquisition of equity securities	(12.6)	(9.3)
Other investing activities	2.4	6.3
Net cash used in investing activities	(139.2)	(153.7)
Financing activities:
Proceeds from debt (original maturities greater than three months)	10.4
Repayments of debt (original maturities greater than three months)	(225)
Repurchases of Common Stock	(155)	(13)
Dividends paid	(48.9)	(45.4)
Proceeds from exercise of stock options	2.3	37.5
Acquisition of Common Stock for taxes on stock-based compensation	(1.7)	(1.6)
Other financing activities	(7.5)	(2.5)
Net cash used in financing activities	(425.4)	(25)
Effect of exchange rate changes on cash and cash equivalents	(10.8)	(2.3)
Increase (decrease) in cash and cash equivalents	(598.3)	267.7
Cash and cash equivalents at beginning of period	995.7	898.6
Cash and cash equivalents at end of period	397.4	1,166.3
Supplemental disclosures:
Cash paid for interest	23.2	24.8
Cash paid for income taxes	205.7	146.4
Proceeds from income tax refunds	0.9
Cash paid for operating lease liabilities	24.3	26
Operating right-of-use assets obtained	$ 3.3	$ 80

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2022
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Basis of Presentation	1. Basis of Presentation In October 2021, Oshkosh Corporation and its subsidiaries (the Company) changed its fiscal year from a year beginning on October 1 and ending September 30 to a year beginning on January 1 and ending December 31. The Company’s current fiscal year runs from January 1, 2022 through December 31, 2022 (fiscal 2022). In the opinion of management, the accompanying unaudited Condensed Consolidated Financial Statements contain all adjustments (which include normal recurring adjustments, unless otherwise noted) necessary to present fairly the financial position, results of operations and cash flows for the periods presented. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles in the United States (U.S. GAAP) have been condensed or omitted pursuant to the rules and regulations of the U.S. Securities and Exchange Commission. These Condensed Consolidated Financial Statements should be read in conjunction with the audited financial statements and notes thereto included in the Annual Report on Form 10-K of Oshkosh Corporation for the year ended September 30, 2021. The interim results are not necessarily indicative of results for any other interim period or for fiscal 2022. Certain reclassifications have been made to the prior period financial statements to conform to the presentation as of and for the three and six months ended June 30, 2022. On June 13, 2022, the Company acquired all of the outstanding shares of Maxi-Metal Inc. (Maxi-Metal), which specializes in the design and manufacturing of fire apparatus and utility vehicles in the Canadian market, for 25.3 million Canadian dollars, or $ 19.7 million. This includes $ 19.5 million in cash and an estimated amount payable of $ 0.2 million for certain post-closing working capital adjustments. The operating results of Maxi-Metal have been included in the Company’s Condensed Consolidated Statements of Income from the date of acquisition. Maxi-Metal had sal es of $ 1.0 million from the acquisition date to June 30, 2022. Pro-forma results of operations have not been presented as the effect of the acquisition is not material to any periods presented. The following table summarizes the preliminary fair values of the assets acquired and liabilities assumed as of the date of acquisition (in millions): Assets Acquired: Current assets, excluding cash of $ 1.7 $ 7.5 Property, plant and equipment 1.6 Goodwill 8.9 Purchased intangible assets 3.8 Total assets 21.8 Liabilities Assumed: Current liabilities 2.0 Long-term liabilities 0.1 Total liabilities 2.1 Net assets acquired $ 19.7 The purchase price allocations are preliminary at June 30, 2022 and will be subsequently adjusted to reflect the finalization of appraisals and other valuation studies. The Company expe nsed $ 0.4 million of tr ansaction costs related to the acquisition during the three and six months ended June 30, 2022.

Revenue Recognition

Revenue Recognition	6 Months Ended
	Jun. 30, 2022
Sales And Revenue Recognition [Abstract]
Revenue Recognition	2. Revenue Recognition The Defense segment utilizes the cost-to-cost method of percentage-of-completion to recognize revenue on its performance obligations that are satisfied over time because it best depicts the transfer of control to the customer. Under the cost-to-cost method of percentage-of-completion, the Defense segment measures progress based on the ratio of costs incurred to date to total estimated costs for the performance obligation. The Company recognizes changes in estimated sales or costs and the resulting profit or loss on a cumulative basis. Contract adjustments represent the cumulative effect of the changes on prior periods. If a loss is expected on a performance obligation, the complete estimated loss is recorded in the period in which the loss is identified. There is significant judgment involved in estimating sales and costs within the Defense segment. Each contract is evaluated at contract inception to identify risks and estimate revenue and costs. In performing this evaluation, the Defense segment considers risks of contract performance such as technical requirements, schedule, duration and key contract dependencies. These considerations are then factored into the Company’s estimated revenue and costs. Preliminary contract estimates are subject to change throughout the duration of the contract as additional information becomes available that impacts risks and estimated revenue and costs. In addition, as contract modifications (e.g., new orders) are received, the additional units are factored into the overall contract estimate of costs and transaction price. Contract adjustments impacted the Company’s results as follows (in millions, except per share amounts): Three Months Ended Six Months Ended 2022 2021 2022 2021 Net sales $ ( 18.2 ) $ 5.1 $ ( 23.6 ) $ 1.2 Operating income ( 23.6 ) 3.2 ( 31.7 ) ( 0.7 ) Net income ( 18.1 ) 2.5 ( 24.3 ) ( 0.5 ) Diluted earnings per share $ ( 0.27 ) $ 0.04 $ ( 0.37 ) $ — Disaggregation of Revenue Consolidated net sales disaggregated by segment and timing of revenue recognition are as follows (in millions): Three Months Ended June 30, 2022 Access Defense Fire & Commercial Corporate and Total Point in time $ 965.4 $ 2.2 $ 271.4 $ 167.7 $ ( 2.2 ) $ 1,404.5 Over time 11.7 537.1 5.1 107.6 — 661.5 $ 977.1 $ 539.3 $ 276.5 $ 275.3 $ ( 2.2 ) $ 2,066.0 Three Months Ended June 30, 2021 Access Defense Fire & Commercial Corporate and Total Point in time $ 907.1 $ 10.1 $ 297.8 $ 155.7 $ ( 6.4 ) $ 1,364.3 Over time 17.2 700.3 4.7 122.4 ( 0.1 ) 844.5 $ 924.3 $ 710.4 $ 302.5 $ 278.1 $ ( 6.5 ) $ 2,208.8 Six Months Ended June 30, 2022 Access Defense Fire & Commercial Corporate and Total Point in time $ 1,835.3 $ 4.3 $ 554.0 $ 322.0 $ ( 4.5 ) $ 2,711.1 Over time 24.9 1,070.6 10.4 194.7 — 1,300.6 $ 1,860.2 $ 1,074.9 $ 564.4 $ 516.7 $ ( 4.5 ) $ 4,011.7 Six Months Ended June 30, 2021 Access Defense Fire & Commercial Corporate and Total Point in time $ 1,628.2 $ 20.4 $ 605.4 $ 282.2 $ ( 13.5 ) $ 2,522.7 Over time 34.3 1,304.7 9.6 225.9 0.6 1,575.1 $ 1,662.5 $ 1,325.1 $ 615.0 $ 508.1 $ ( 12.9 ) $ 4,097.8 See Note 18 of the Notes to Condensed Consolidated Financial Statements for further disaggregated sales information. Contract Assets and Contract Liabilities The Company is generally entitled to bill its customers upon satisfaction of its performance obligations, except for its long-term contracts in the Defense segment which typically allow for billing upon acceptance of the finished goods, payments received from customers in advance of performance and extended warranties that are billed in advance of the warranty coverage period. Customer payment is usually received shortly after billing and payment terms generally do not exceed one year. See Note 7 of the Notes to Condensed Consolidated Financial Statements for additional information on the Company’s receivables balances. With the exception of the Fire & Emergency segment, the Company’s contracts typically do not contain a significant financing component. In the Fire & Emergency segment, customers earn interest on customer advances at a rate determined in a separate financing transaction between the Fire & Emergency segment and the customer at contract inception. Interest of $ 6.0 million and $ 11.0 million were recorded in “Interest expense” in the Condensed Consolidated Statements of Income for the three and six months ended June 30, 2022, respectively, and $ 4.4 million and $ 8.9 million for the three and six months ended June 30, 2021, respectively, for amounts due on customer advances. The timing of billing does not always match the timing of revenue recognition. In instances where a customer pays consideration in advance or when the Company is entitled to bill a customer in advance of recognizing the related revenue, the Company records a contract liability. The Company reduces contract liabilities when the Company transfers control of the promised goods and services. Contract liabilities consisted of the following (in millions): June 30, December 31, 2022 2021 Customer advances $ 757.1 $ 690.9 Other current liabilities 77.2 81.9 Long-term customer advances 550.2 207.0 Other long-term liabilities 59.2 54.9 Total contract liabilities $ 1,443.7 $ 1,034.7 Three Months Ended Six Months Ended 2022 2021 2022 2021 Beginning liabilities recognized in revenue $ 196.5 $ 158.2 $ 314.8 $ 288.0 In instances where the Company recognizes revenue prior to having an unconditional right to payment, the Company records a contract asset. The Company reduces contract assets when the Company has an unconditional right to payment. The Company periodically assesses its contract assets for impairment. Contract assets and liabilities are determined on a net basis for each contract. The Company did no t record any impairment losses on contract assets during the three or six months ended June 30, 2022 or 2021. The Defense segment incurs pre-production engineering, factory setup and other contract fulfillment costs related to products produced for its customers under long-term supply agreements. An asset is recognized for costs incurred to fulfill an existing contract or highly-probable anticipated contract if such costs generate or enhance resources that will be used in satisfying performance obligations in the future and the costs are expected to be recovered. Costs related to customer-owned tooling that will be used in production and for which the customer has provided a non-cancelable right to use the tooling to perform under a long-term supply agreement are also recognized as an asset. Under the Next Generation Delivery Vehicles (NGDV) contract with the United States Postal Service (USPS), the Company has determined that it does not transfer control of any goods or services to the USPS until the construction of the production vehicles. These costs will be amortized over the anticipated production volume of the NGDV contract. Deferred contract fulfillment and customer-owned tooling costs are included in “Other long-term assets” within the Company’s Condensed Consolidated Balance Sheets. The Company periodically assesses its contract fulfillment and customer-owned tooling for impairment. The Company did no t record any impairment losses on contract fulfillment or customer-owned tooling costs during the three or six months ended June 30, 2022 or 2021. Deferred contract related costs, the majority of which related to the NGDV contract, consisted of the following (in millions): June 30, December 31, 2022 2021 Costs for anticipated contracts $ 5.5 $ 4.9 Engineering costs 147.8 60.0 Factory setup costs 14.5 4.1 Customer-owned tooling 39.0 4.2 Deferred contract related costs $ 206.8 $ 73.2 The Company offers a variety of service-type warranties, including optionally priced extended warranty programs. Outstanding balances related to service-type warranties are included within contract liabilities. Revenue related to service-type warranties is deferred until after the expiration of the standard warranty period. The revenue is then recognized in income over the term of the extended warranty period in proportion to the costs that are expected to be incurred. Changes in the Company’s service-type warranties were as follows (in millions): Six Months Ended 2022 2021 Balance at beginning of period $ 66.9 $ 63.0 Deferred revenue for new service warranties 14.8 14.2 Amortization of deferred revenue ( 10.6 ) ( 12.6 ) Foreign currency translation ( 0.5 ) ( 0.1 ) Balance at end of period $ 70.6 $ 64.5 Classification of service-type warranties in the Condensed Consolidated Balance Sheets consisted of the following (in millions): June 30, December 31, 2022 2021 Other current liabilities $ 24.4 $ 22.3 Other long-term liabilities 46.2 44.6 $ 70.6 $ 66.9 Remaining Performance Obligations As of June 30, 2022, the Company had unsatisfied performance obligations for contracts with an original duration greater than one year totaling $ 8.44 billion , of which $ 1.48 billion is expected to be satisfied and revenue recognized in the remaining six months of fiscal 2022, $ 2.58 billion is expected to be recognized in fiscal 2023 and $ 4.37 billion is expected to be satisfied and revenue recognized beyond fiscal 2023 .

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2022
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock-Based Compensation	3. Stock-Based Compensation In February 2017, the Company’s shareholders approved the 2017 Incentive Stock and Awards Plan (the “2017 Stock Plan”). The 2017 Stock Plan replaced the 2009 Incentive Stock and Awards Plan (as amended, the “2009 Stock Plan”). While no new awards will be granted under the 2009 Stock Plan, awards previously made under that plan that were outstanding as of the approval date of the 2017 Stock Plan will remain outstanding and continue to be governed by the provisions of that plan. At June 30, 2022, the Company had reserved 3,576,025 shares of Common Stock available for issuance to provide for the exercise of outstanding stock options and the issuance of Common Stock under incentive compensation awards, including awards issued prior to the effective date of the 2017 Stock Plan. The Company recognizes stock-based compensation expense over the requisite service period for vesting of an award, or to an employee’s eligible retirement date, if earlier and applicable. Total stock-based compensation expense, including cash-based liability awards, for the three and six months ended June 30, 2022 was $ 6.2 million ( $ 5.1 million net of tax) and $ 12.7 million ( $ 10.6 million net of tax), respectively. Total stock-based compensation expense, including cash-based liability awards, for the three and six months ended June 30, 2021 was $ 6.2 million ( $ 5.3 million net of tax) and $ 16.1 million ( $ 13.6 million net of tax), respectively.

Employee Benefit Plans

Employee Benefit Plans	6 Months Ended
	Jun. 30, 2022
Defined Benefit Plans And Other Postretirement Benefit Plans Disclosures [Abstract]
Employee Benefit Plans	4. Employee Benefit Plans Components of net periodic pension benefit cost were as follows (in millions): Three Months Ended Six Months Ended 2022 2021 2022 2021 Components of net periodic benefit cost Service cost $ 2.6 $ 2.8 $ 5.2 $ 5.7 Interest cost 4.2 4.1 8.5 8.2 Expected return on plan assets ( 5.1 ) ( 4.9 ) ( 10.3 ) ( 9.9 ) Amortization of prior service cost (benefit) 0.6 0.6 1.1 1.1 Amortization of net actuarial loss (gain) 0.2 1.4 0.4 2.6 Expenses paid 0.8 0.8 1.6 1.6 Net periodic benefit cost $ 3.3 $ 4.8 $ 6.5 $ 9.3 Components of net periodic other post-employment benefit cost were as follows (in millions): Three Months Ended Six Months Ended 2022 2021 2022 2021 Components of net periodic benefit cost Service cost $ 0.5 $ 0.6 $ 1.1 $ 1.1 Interest cost 0.4 0.3 0.7 0.6 Amortization of prior service cost (benefit) ( 0.4 ) ( 0.4 ) ( 0.7 ) ( 0.7 ) Amortization of net actuarial loss (gain) 0.1 0.1 0.2 0.1 Net periodic benefit cost $ 0.6 $ 0.6 $ 1.3 $ 1.1 Components of net periodic benefit cost other than “Service cost” and “Expenses paid” are included in “Miscellaneous, net” in the Condensed Consolidated Statements of Income.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	5. Income Taxes The Company recorded income tax expense of $ 13.7 million , or 32.3 % of pre-tax income, for the three months ended June 30, 2022, compared to an income tax benefit of $ 21.9 million for the three months ended June 30, 2021. Results for the three months ended June 30, 2022 were unfavorably impacted by $ 1.5 million of net discrete items. Results for the three months ended June 30, 2021 were impacted by a $ 69.9 million discrete tax benefit for the implementation of a plan to make certain tax accounting method changes and change the timing of certain deductible payments, allowing the Company to carry back the net operating loss to prior tax years with higher federal statutory tax rates. The Company recorded income tax expense of $ 33.9 million , or 55.4 % of pre-tax income, for the six months ended June 30, 2022, compared to $ 11.3 million , or 3.5 % of pre-tax income, for the six months ended June 30, 2021. Results for the six months ended June 30, 2022 were unfavorably impacted by $ 16.9 million of net discrete tax items, including a charge of $ 18.1 million related to taxes on previous income as the Company revised its interpretation of certain foreign anti-hybrid tax legislation based upon comments from the corresponding tax authorities . Results for the six months ended June 30, 2021 were favorably impacted by the $ 69.9 million discrete tax benefit. The Company’s liability for gross unrecognized tax benefits, excluding related interest and penalties, was $ 83.4 million and $ 41.5 million as of June 30, 2022 and December 31, 2021, respectively. Included in the Company’s June 30, 2022 liability for gross unrecognized tax benefits is a $ 19.2 million reserve related to foreign anti-hybrid legislation and a $ 22.3 million U.S. federal reserve for a temporary deferred position. As of June 30, 2022, net unrecognized tax benefits, excluding interest and penalties, of $ 45.3 million would affect the Company’s net income if recognized. The Company recognizes accrued interest and penalties, if any, related to unrecognized tax benefits in the “Provision for income taxes” in the Condensed Consolidated Statements of Income. During the six months ended June 30, 2022 and 2021, the Company recognized expense of $ 0.7 million and $ 0.9 million , respectively, related to interest and penalties. At June 30, 2022, the Company had accruals for the payment of interest and penalties of $ 4.2 million . During the next twelve months, it is reasonably possible that federal, state and foreign tax audit resolutions could reduce net unrecognized tax benefits by approximately $ 5.3 million because the Company’s tax positions are sustained on audit, the Company agrees to their disallowance or the statutes of limitations close.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Earnings Per Share	6. Earnings Per Share The reconciliation of basic weighted-average shares outstanding to diluted weighted-average shares outstanding was as follows: Three Months Ended Six Months Ended 2022 2021 2022 2021 Basic weighted-average common shares outstanding 65,613,527 68,781,801 66,001,628 68,648,351 Dilutive stock options and other equity-based compensation awards 395,333 829,844 458,668 802,523 Diluted weighted-average common shares outstanding 66,008,860 69,611,645 66,460,296 69,450,874 Shares for stock-based compensation not included in the computation of diluted earnings per share attributable to common shareholders because they would have been anti-dilutive were as follows: Three Months Ended Six Months Ended 2022 2021 2022 2021 Shares for stock-based compensation 160,198 — 80,099 —

Receivables

Receivables	6 Months Ended
	Jun. 30, 2022
Receivables [Abstract]
Receivables	7. Receivables Receivables consisted of the following (in millions): June 30, December 31, Trade receivables - U.S. government $ 230.9 $ 140.7 Trade receivables - other 944.5 797.5 Finance receivables 6.5 8.0 Other receivables 49.2 40.0 1,231.1 986.2 Less allowance for doubtful accounts ( 6.4 ) ( 4.2 ) $ 1,224.7 $ 982.0 Classification of receivables in the Condensed Consolidated Balance Sheets consisted of the following (in millions): June 30, December 31, Current receivables $ 1,216.4 $ 973.4 Long-term receivables 8.3 8.6 $ 1,224.7 $ 982.0 Changes in the Company’s allowance for doubtful accounts by type of receivable were as follows (in millions): Three Months Ended June 30, 2022 Three Months Ended June 30, 2021 Finance Trade and Total Finance Trade and Total Allowance at beginning of period $ 0.4 $ 5.5 $ 5.9 $ 1.1 $ 4.6 $ 5.7 Provision for doubtful accounts, net of recoveries ( 0.1 ) 0.6 0.5 ( 0.2 ) ( 0.8 ) ( 1.0 ) Allowance at end of period $ 0.3 $ 6.1 $ 6.4 $ 0.9 $ 3.8 $ 4.7 Six Months Ended June 30, 2022 Six Months Ended June 30, 2021 Finance Trade and Total Finance Trade and Total Allowance at beginning of period $ 0.5 $ 3.7 $ 4.2 $ 1.4 $ 4.4 $ 5.8 Provision for doubtful accounts, net of recoveries ( 0.2 ) 2.4 2.2 ( 0.5 ) ( 0.6 ) ( 1.1 ) Allowance at end of period $ 0.3 $ 6.1 $ 6.4 $ 0.9 $ 3.8 $ 4.7

Inventories

Inventories	6 Months Ended
	Jun. 30, 2022
Inventory Disclosure [Abstract]
Inventories	8. Inventories Inventories consisted of the following (in millions): June 30, December 31, Raw materials $ 1,045.3 $ 984.4 Partially finished products 428.0 334.0 Finished products 291.6 239.7 Inventories at FIFO cost 1,764.9 1,558.1 Less: Excess of FIFO cost over LIFO cost ( 180.6 ) ( 175.4 ) $ 1,584.3 $ 1,382.7

Property, Plant and Equipment

Property, Plant and Equipment	6 Months Ended
	Jun. 30, 2022
Property Plant And Equipment [Abstract]
Property, Plant and Equipment	9. Property, Plant and Equipment Property, plant and equipment consisted of the following (in millions): June 30, December 31, Land and land improvements $ 73.2 $ 72.0 Buildings 414.3 410.9 Machinery and equipment 797.8 740.9 Software and related costs 199.2 201.3 Equipment on operating lease to others 10.2 9.9 Construction in progress 107.3 45.3 1,602.0 1,480.3 Less accumulated depreciation ( 927.5 ) ( 887.1 ) $ 674.5 $ 593.2 Depreciation expense was $ 21.3 million and $ 20.7 million for the three months ended June 30, 2022 and 2021, respectively. Depreciation expense was $ 42.0 million and $ 42.2 million (including $ 0.8 million of accelerated depreciation related to restructuring actions) for the six months ended June 30, 2022 and 2021, respectively. Capitalized interest was insignificant for all reported periods. Equipment on operating lease to others represents the cost of equipment shipped to customers for whom the Company has guaranteed the residual value and equipment on short-term leases. These transactions are accounted for as operating leases with the related assets capitalized and depreciated over their estimated economic lives of five to ten years . Cost less accumulated depreciation for equipment on operating lease at June 30, 2022 and December 31, 2021 was $ 9.2 million and $ 8.9 million , respectively.

Goodwill and Purchased Intangib

Goodwill and Purchased Intangible Assets	6 Months Ended
	Jun. 30, 2022
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill and Purchased Intangible Assets	10. Goodwill and Purchased Intangible Assets Goodwill and other indefinite-lived intangible assets are not amortized but are reviewed for impairment annually or more frequently if potential interim indicators exist that could result in impairment. The Company performs its annual impairment test in the fourth quarter of its fiscal year. The Company acquired Maxi-Metal on June 13, 2022. The goodwill and intangible values related to the Maxi-Metal acquisition are preliminary. See Note 1 of the Condensed Consolidated Financial Statements for additional information. The following table presents changes in goodwill during the six months ended June 30, 2022 (in millions): Access Defense Fire & Commercial Total Net goodwill at December 31, 2021 $ 877.6 $ 44.4 $ 106.1 $ 20.9 $ 1,049.0 Foreign currency translation ( 14.9 ) — — — ( 14.9 ) Acquisition — — 8.9 — 8.9 Net goodwill at June 30, 2022 $ 862.7 $ 44.4 $ 115.0 $ 20.9 $ 1,043.0 The following table presents details of the Company’s goodwill allocated to the reportable segments (in millions): June 30, 2022 December 31, 2021 Gross Accumulated Net Gross Accumulated Net Access Equipment $ 1,794.8 $ ( 932.1 ) $ 862.7 $ 1,809.7 $ ( 932.1 ) $ 877.6 Defense 44.4 — 44.4 44.4 — 44.4 Fire & Emergency 117.0 ( 2.0 ) 115.0 108.1 ( 2.0 ) 106.1 Commercial 188.5 ( 167.6 ) 20.9 188.5 ( 167.6 ) 20.9 $ 2,144.7 $ ( 1,101.7 ) $ 1,043.0 $ 2,150.7 $ ( 1,101.7 ) $ 1,049.0 Details of the Company’s total purchased intangible assets are as follows (in millions): June 30, 2022 Weighted- Gross Accumulated Net Amortizable intangible assets: Distribution network 39.2 $ 55.4 $ ( 36.3 ) $ 19.1 Technology-related 12.0 108.3 ( 104.1 ) 4.2 Customer relationships 12.6 572.5 ( 554.2 ) 18.3 Other 12.0 23.5 ( 20.3 ) 3.2 14.4 759.7 ( 714.9 ) 44.8 Preliminary acquisition amortizable intangible assets 5.0 3.8 — 3.8 14.4 763.5 ( 714.9 ) 48.6 Non-amortizable trade names 417.0 — 417.0 $ 1,180.5 $ ( 714.9 ) $ 465.6 December 31, 2021 Weighted- Gross Accumulated Net Amortizable intangible assets: Distribution network 39.2 $ 55.4 $ ( 35.6 ) $ 19.8 Technology-related 11.9 104.7 ( 104.0 ) 0.7 Customer relationships 12.6 572.6 ( 551.3 ) 21.3 Other 12.1 23.6 ( 18.5 ) 5.1 14.4 756.3 ( 709.4 ) 46.9 Non-amortizable trade names 417.1 — 417.1 $ 1,173.4 $ ( 709.4 ) $ 464.0 On March 1, 2022, the Company acquired two patents with a combined value of $ 3.7 million. The technology-related intangible asset is subject to amortization with an estimated life of 14.3 years. The estimated future amortization expense of purchased intangible assets for the remainder of fiscal 2022 and each of the five years succeeding December 31, 2021 are as follows: 2022 (remaining six months) $ 6.0 million ; 2023 - $ 6.5 million ; 2024 - $ 5.3 million ; 2025 - $ 5.2 million ; 2026 - $ 5.2 million ; and 2027 - $ 4.8 million .

Credit Agreements

Credit Agreements	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Credit Agreements	11. Credit Agreements The Company was obligated under the following debt instruments (in millions): June 30, 2022 Principal Debt Issuance Costs Debt, Net 4.600 % Senior notes due May 2028 $ 300.0 $ ( 2.3 ) $ 297.7 3.100 % Senior notes due March 2030 300.0 ( 3.1 ) 296.9 $ 600.0 $ ( 5.4 ) $ 594.6 Other short-term debt $ 10.0 December 31, 2021 Principal Debt Issuance Costs Debt, Net Senior Term Loan $ 225.0 $ ( 0.2 ) $ 224.8 4.600 % Senior notes due May 2028 300.0 ( 2.5 ) 297.5 3.100 % Senior notes due March 2030 300.0 ( 3.3 ) 296.7 $ 825.0 $ ( 6.0 ) $ 819.0 On March 23, 2022, the Company entered into a Third Amended and Restated Credit Agreement with various lenders (the “Credit Agreement”). The Credit Agreement provides for an unsecured revolving credit facility (the “Revolving Credit Facility”) that matures in March 2027 with an initial maximum aggregate amount of availability of $ 1.1 billion. Debt issuance costs of $ 2.5 million were capitalized related to the Credit Agreement. In March 2022, the Company repaid a $ 225.0 million senior term loan that existed under the Second Amended and Restated Credit Agreement. As a result of the repayment, the Company expensed $ 0.1 million of previou sly capitalized debt issuance costs. At June 30, 2022, outstanding letters of credit of $ 11.6 million reduced available capacity under the Revolving Credit Facility to $ 1.09 billion . Under the Credit Agreement, the Company is obligated to pay (i) an unused commitment fee ranging from 0.080 % to 0.225 % per annum of the average da ily unused portion of the aggregate revolving credit commitments under the Credit Agreement and (ii) a fee ranging from 0.4375 % to 1.500 % per annum of the maximum amount available to be drawn for each letter of credit issued and outstanding under the Credit Agreement. Borrowings under the Credit Agreement bear interest for dollar-denominated loans at a variable rate equal to (i) Term SOFR (the forward-looking secured overnight financing rate) plus a specified margin, which may be adjusted upward or downward depending on whether certain criteria are satisfied, or (ii) the base rate (which is the highest of (x) Bank of America, N.A.’s prime rate, (y) the federal funds rate plus 0.50 % or (z) the sum of 1.00 % plus one-month Term SOFR) plus a specified margin, which may be adjusted upward or downward depending on whether certain criteria are satisfied. At June 30, 2022, the interest spread on the Revolving Credit Facility was 112.5 basis points. The Credit Agreement contains various restrictions and covenants, including a requirement that the Company maintain a leverage ratio at certain levels, subject to certain exceptions, restrictions on the ability of the Company and certain of its subsidiaries to consolidate or merge, create liens, incur additional subsidiary indebtedness and consummate acquisitions and a restriction on the disposition of all or substantially all of the assets of the Company and its subsidiaries taken as a whole. The Credit Agreement requires the Company to maintain a maximum leverage ratio (defined as, with certain adjustments, the ratio of the Company’s consolidated indebtedness to the Company’s consolidated net income for the previous four quarters before interest, taxes, depreciation, amortization, non-cash charges and certain other items (EBITDA)) as of the last day of any fiscal quarter of 3.75 to 1.00, subject to the Company’s right to temporarily increase the maximum leverage ratio to 4.25 to 1.00 in connection with certain material acquisitions. The Company was in compliance with the financial covenant contained in the Credit Agreement as of June 30, 2022. In March 2022, the Company entered into a 100.0 million Chinese renminbi uncommitted line of credit to provide short-term finance support to operations in China. There was 12.6 million Chinese renminbi ($ 1.9 million) outstanding on the uncommitted line of credit as of June 30, 2022 . The line of credit carries a variable interest rate that is set by the lender, which was 3.6 % at June 30, 2022. In September 2019, the Company entered into a 220.0 million Chinese renminbi uncommitted line of credit to provide short-term finance support to operations in China. There was 54.0 million Chinese renminbi ($ 8.1 million) outstanding on the uncommitted line of credit as of June 30, 2022. The line of credit carries a variable interest rate that is set by the lender, which was 4.2 % at June 30, 2022. In May 2018, the Company issued $ 300.0 million of 4.600 % unsecured senior notes due May 15, 2028 (the “2028 Senior Notes”). In February 2020, the Company issued $ 300.0 million of 3.100 % unsecured senior notes due March 1, 2030 (the “2030 Senior Notes”). The 2028 Senior Notes and the 2030 Senior Notes were issued pursuant to an indenture (the “Indenture”) between the Company and a trustee. The Indenture contains customary affirmative and negative covenants. The Company has the option to redeem the 2028 and 2030 Senior Notes at any time for a premium. The fair value of the long-term debt is estimated based upon Level 2 inputs to reflect the market rate of the Company’s debt. At June 30, 2022, the fair value of the 2028 Senior Notes and the 2030 Senior Notes was estimated to be $ 298 million ( $ 338 million at December 31, 2021) and $ 261 million ( $ 313 million at December 31, 2021), respectively. The fair value of the Term Loan approximated its book value at December 31, 2021. See Note 17 of the Notes to Condens ed Consolidated Financial Statements for the definition of a Level 2 input.

Warranties

Warranties	6 Months Ended
	Jun. 30, 2022
Product Warranties Disclosures [Abstract]
Warranties	12. Warranties The Company’s products generally carry explicit warranties that extend from six months to five years , based on terms that are generally accepted in the marketplace. Selected components (such as engines, transmissions, tires, etc.) included in the Company’s end products may include manufacturers’ warranties. These manufacturers’ warranties are generally passed on to the end customer of the Company’s products, and the customer would generally deal directly with the component manufacturer. Provisions for estimated warranty and other related costs are recorded at the time of sale and are periodically adjusted to reflect actual experience. Certain warranty and other related claims involve matters of dispute that ultimately are resolved by negotiation, arbitration or litigation. At times, warranty issues arise that are beyond the scope of the Company’s historical experience. It is reasonably possible that additional warranty and other related claims could arise from disputes or other matters in excess of amounts accrued; however, the Company does not expect that any such amounts, while not determinable, would have a material effect on the Company’s consolidated financial condition, results of operations or cash flows. Changes in the Company’s assurance-type warranty liability were as follows (in millions): Six Months Ended 2022 2021 Balance at beginning of period $ 65.7 $ 64.6 Warranty provisions 24.9 21.9 Settlements made ( 29.8 ) ( 34.3 ) Changes in liability for pre-existing warranties, net 0.3 17.5 Foreign currency translation ( 0.3 ) ( 0.1 ) Acquisition 0.2 0.3 Balance at end of period $ 61.0 $ 69.9

Guarantee Arrangements

Guarantee Arrangements	6 Months Ended
	Jun. 30, 2022
Guarantees [Abstract]
Guarantee Arrangements	13. Guarantee Arrangements Customers of the Company, from time to time, may fund purchases of the Company’s equipment through third-party finance companies. In certain instances, the Company may be requested to provide support for these arrangements through credit or residual value guarantees, by which the Company agrees to make payments to the finance companies in certain circumstances as further described below. Credit Guarantees: The Company is party to multiple agreements whereby at June 30, 2022 the Company guaranteed an aggregate of $ 747.6 million in indebtedness of customers. At June 30, 2022, the Company estimated that its maximum loss exposure under these contracts was $ 133.7 million . Terms of these guarantees coincide with the financing arranged by the customer and generally do not exceed five years. Under the terms of these agreements and upon the occurrence of certain events, the Company generally has the ability to, among other things, take possession of the underlying collateral. If the financial condition of the customers were to deteriorate and result in their inability to make payments, then loss provisions in excess of amounts provided for at inception may be required. Given the Company’s position as original equipment manufacturer and its knowledge of end markets, the Company, when called upon to fulfill a guarantee, generally has been able to liquidate the financed equipment at a minimal loss, if any, to the Company. While the Company does not expect to experience losses under these agreements that are materially in excess of the amounts reserved, it cannot provide any assurance that the financial condition of the third parties will not deteriorate resulting in the third parties’ inability to meet their obligations. In the event that this occurs, the Company cannot guarantee that the collateral underlying the agreements will be sufficient to avoid losses materially in excess of the amounts reserved. Any losses under these guarantees would generally be mitigated by the value of any underlying collateral, including financed equipment. During periods of economic weakness, collateral values generally decline and can contribute to higher exposure to losses. Residual Value Guarantees: The Company is party to multiple agreements whereby at June 30, 2022 the Company guaranteed to support an aggregate of $ 93.9 million of customer equipment value. At June 30, 2022, the Company estimated that its maximum loss exposure under these contracts was $ 11.0 million . Terms of these guarantees coincide with the financing arranged by the customer and generally do not exceed five years. Under the terms of these agreements, the Company guarantees that a piece of equipment will have a minimum residual value at a future date. If the counterparty is not able to recover the agreed upon residual value through sale, or alternative disposition, the Company is responsible for a portion of the shortfall. The Company is generally able to mitigate a portion of the risk associated with these guarantees by staggering the maturity terms of the guarantees, diversification of the portfolio and leveraging knowledge gained through the Company’s own experience in the used equipment markets. There can be no assurance the Company’s historical experience in used equipment markets will be indicative of future results. The Company’s ability to recover losses experienced from its guarantees may be affected by economic conditions in used equipment markets at the time of loss. During periods of economic weakness, residual values generally decline and can contribute to higher exposure to losses. Changes in the non-contingent portion of the Company’s guarantee liabilities were as follows (in millions): Three Months Ended Six Months Ended 2022 2021 2022 2021 Balance at beginning of period $ 10.1 $ 13.8 $ 12.1 $ 14.7 Provision for new credit guarantees 1.0 0.7 2.0 1.1 Changes for pre-existing guarantees, net 1.4 ( 0.2 ) ( 1.1 ) ( 0.6 ) Amortization of previous guarantees ( 0.3 ) ( 0.4 ) ( 0.8 ) ( 1.3 ) Foreign currency translation ( 0.1 ) ( 0.1 ) ( 0.1 ) ( 0.1 ) Balance at end of period $ 12.1 $ 13.8 $ 12.1 $ 13.8 Upon the adoption of Financial Accounting Standards Board (FASB) Accounting Standard Codification (ASC) 326, Financial Instruments – Credit Losses , the contingent portion of the guarantee liabilities that relates to current expected credit losses is recognized separately and is recorded within “Other current liabilities” and “Other long-term liabilities” in the Company’s Condensed Consolidated Balance Sheets. Changes in the contingent portion of the Company’s guarantee liabilities were as follows (in millions): Three Months Ended Six Months Ended 2022 2021 2022 2021 Balance at beginning of period $ 9.7 $ 6.9 $ 4.0 $ 6.9 Provision for new credit guarantees 0.5 0.4 1.1 0.7 Changes in allowance for pre-existing guarantees, net ( 3.2 ) ( 0.5 ) 1.8 ( 0.8 ) Foreign currency translation ( 0.3 ) — ( 0.2 ) — Balance at end of period $ 6.7 $ 6.8 $ 6.7 $ 6.8

Contingencies, Significant Esti

Contingencies, Significant Estimates and Concentrations	6 Months Ended
	Jun. 30, 2022
Commitments And Contingencies Disclosure [Abstract]
Contingencies, Significant Estimates and Concentrations	14. Contingencies, Significant Estimates and Concentrations Personal Injury Actions and Other - Product and general liability claims are made against the Company from time to time in the ordinary course of business. The Company is generally self-insured for future claims up to $ 5.0 million per claim. Accordingly, a reserve is maintained for the estimated cost s of such claims. At June 30, 2022 and December 31, 2021, the estimated net liabilities for product and general liability claims totaled $ 42.9 million and $ 45.1 million , respectively. There is inherent uncertainty as to the eventual resolution of unsettled claims. Management, however, believes that any losses in excess of established reserves will not have a material effect on the Company’s financial condition, results of operations or cash flows. Market Risks - The Company was contingently liable under bid, performance and specialty bonds totaling $ 1.69 billion and $ 1.24 billion at June 30, 2022 and December 31, 2021, respectively. Open standby letters of credit issued by the Company’s banks in favor of third parties totaled $ 15.0 million and $ 22.1 million at June 30, 2022 and December 31, 2021, respectively. Other Matters - The Company is subject to environmental matters and legal proceedings and claims, including patent, antitrust, product liability, warranty and state dealership regulation compliance proceedings, that arise in the ordinary course of business. Although the final results of all such matters and claims cannot be predicted with certainty, management believes that the ultimate resolution of all such matters and claims will not have a material effect on the Company’s financial condition, results of operations or cash flows. Actual results could vary, among other things, due to the uncertainties involved in litigation. Major contracts for military systems are performed over extended periods of time and are subject to changes in scope of work and delivery schedules. Pricing negotiations on changes and settlement of claims often extend over prolonged periods of time. The Company’s ultimate profitability on such contracts may depend on the eventual outcome of an equitable settlement of contractual issues with the Company’s customers.

Shareholders' Equity

Shareholders' Equity	6 Months Ended
	Jun. 30, 2022
Stockholders Equity Note [Abstract]
Shareholders' Equity	15. Shareholders ’ Equity In May 2019, the Company’s Board of Directors approved a Common Stock repurchase authorization for which there was remaining authority to repurchase 4,109,419 shares of Common Stock as of May 3, 2022. On May 3, 2022, the Board of Directors increased the Common Stock repurchase authorization by 7,890,581 shares to 12,000,000 shares as of that date. The Company repurchased 1,508,467 shares of Common Stock under these authorizations during the six months ended June 30, 2022 at a cost of $ 155.0 million . The Company repurchased 107,138 shares of Common Stock under the then-existing authorization during the six months ended June 30, 2021 at a cost of $ 13.0 million . As of June 30, 2022, the Company had remaining authority to repurchase 11,550,677 shares of Comm on Stock.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	6 Months Ended
	Jun. 30, 2022
Accumulated Other Comprehensive Income Loss Net Of Tax [Abstract]
Accumulated Other Comprehensive Income (Loss)	16. Accumulated Other Comprehensive Income (Loss) Changes in accumulated other comprehensive income (loss) by component were as follows (in millions): Three Months Ended June 30, 2022 Employee Pension Cumulative Derivative Accumulated Other Balance at beginning of period $ ( 25.2 ) $ ( 111.7 ) $ 3.0 $ ( 133.9 ) Other comprehensive income (loss) before reclassifications — ( 33.9 ) 4.5 ( 29.4 ) Amounts reclassified from accumulated other comprehensive income (loss) 0.4 — ( 0.1 ) 0.3 Net current period other comprehensive income (loss) 0.4 ( 33.9 ) 4.4 ( 29.1 ) Balance at end of period $ ( 24.8 ) $ ( 145.6 ) $ 7.4 $ ( 163.0 ) Three Months Ended June 30, 2021 Employee Pension Cumulative Derivative Accumulated Other Balance at beginning of period $ ( 93.5 ) $ ( 90.3 ) $ ( 0.1 ) $ ( 183.9 ) Other comprehensive income (loss) before reclassifications — 7.7 0.3 8.0 Amounts reclassified from accumulated other comprehensive income (loss) 1.1 — — 1.1 Net current period other comprehensive income (loss) 1.1 7.7 0.3 9.1 Balance at end of period $ ( 92.4 ) $ ( 82.6 ) $ 0.2 $ ( 174.8 ) Six Months Ended June 30, 2022 Employee Pension Cumulative Derivative Accumulated Other Balance at beginning of period $ ( 25.6 ) $ ( 105.2 ) $ 2.2 $ ( 128.6 ) Other comprehensive income (loss) before reclassifications — ( 40.4 ) 5.4 ( 35.0 ) Amounts reclassified from accumulated other comprehensive income (loss) 0.8 — ( 0.2 ) 0.6 Net current period other comprehensive income (loss) 0.8 ( 40.4 ) 5.2 ( 34.4 ) Balance at end of period $ ( 24.8 ) $ ( 145.6 ) $ 7.4 $ ( 163.0 ) Six Months Ended June 30, 2021 Employee Pension Cumulative Derivative Accumulated Other Balance at beginning of period $ ( 94.7 ) $ ( 70.3 ) $ ( 0.5 ) $ ( 165.5 ) Other comprehensive income (loss) before reclassifications — ( 12.3 ) 0.7 ( 11.6 ) Amounts reclassified from accumulated other comprehensive income (loss) 2.3 — — 2.3 Net current period other comprehensive income (loss) 2.3 ( 12.3 ) 0.7 ( 9.3 ) Balance at end of period $ ( 92.4 ) $ ( 82.6 ) $ 0.2 $ ( 174.8 ) Reclassifications out of accumulated other comprehensive income (loss) included in the computation of net periodic pension and postretirement benefit cost (See Note 4 of the Notes to Condensed Consolidated Financial Statements for additional details regarding employee benefit plans) were as follows (in millions): Classification of Three Months Ended Six Months Ended 2022 2021 2022 2021 Amortization of employee pension and postretirement benefits items Prior service costs Miscellaneous, net $ 0.2 $ 0.2 $ 0.4 $ 0.4 Actuarial losses Miscellaneous, net 0.3 1.5 0.6 2.7 Total before tax 0.5 1.7 1.0 3.1 Tax benefit ( 0.1 ) ( 0.6 ) ( 0.2 ) ( 0.8 ) Net of tax $ 0.4 $ 1.1 $ 0.8 $ 2.3

Fair Value Measurement

Fair Value Measurement	6 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurement	17. Fair Value Measurement FASB ASC Topic 820, Fair Value Measurements and Disclosures , defines fair value as the price that would be received to sell an asset or paid to transfer a liability (i.e., exit price) in an orderly transaction between market participants at the measurement date. FASB ASC Topic 820 requires disclosures that categorize assets and liabilities measured at fair value into one of three different levels depending on the assumptions (i.e., inputs) used in the valuation. Level 1 provides the most reliable measure of fair value, while Level 3 generally requires significant management judgment. The three levels are defined as follows: Level 1: Unadjusted quoted prices in active markets for identical assets or liabilities. Level 2: Observable inputs other than quoted prices in active markets for identical assets or liabilities, such as quoted prices for similar assets or liabilities in active markets or quoted prices for identical assets or liabilities in inactive markets. Level 3: Unobservable inputs reflecting management’s own assumptions about the inputs used in pricing the asset or liability. The fair value of the Company’s financial assets and liabilities were as follows (in millions): Level 1 Level 2 Level 3 Total June 30, 2022 Assets: SERP plan assets (a) $ 14.1 $ — $ — $ 14.1 Investment in equity securities (b) 5.6 — — 5.6 Foreign currency exchange derivatives (c) — 11.4 — 11.4 Liabilities: Foreign currency exchange derivatives (c) $ — $ 0.9 $ — $ 0.9 December 31, 2021 Assets: SERP plan assets (a) $ 21.3 $ — $ — $ 21.3 Investment in equity securities (b) 14.2 — — 14.2 Foreign currency exchange derivatives (c) — 3.7 — 3.7 Liabilities: Foreign currency exchange derivatives (c) $ — $ 0.9 $ — $ 0.9 (a) Represents investments held in a rabbi trust for the Company’s non-qualified supplemental executive retirement plan (SERP). The fair values of these investments are determined using a market approach. Investments include mutual funds for which quoted prices in active markets are available. The Company records changes in the fair value of investments in “Miscellaneous, net” in the Condensed Consolidated Statements of Income. (b) Represents investments in equity securities for which quoted prices in active markets are available. The Company records changes in the fair value of investments in “Miscellaneous, net” in the Condensed Consolidated Statements of Income. (c) Based on observable market transactions of forward currency prices.

Business Segment Information

Business Segment Information	6 Months Ended
	Jun. 30, 2022
Segment Reporting [Abstract]
Business Segment Information	18. Business Segment Information The Company is organized into four reportable segments based on the internal organization used by the Chief Executive Officer for making operating decisions and measuring performance and based on the similarity of customers served, common management, common use of facilities and economic results attained. In accordance with FASB ASC Topic 280, Segment Reporting , for purposes of business segment performance measurement, the Company does not allocate to individual business segments costs or items that are of a non-operating nature or organizational or functional expenses of a corporate nature. The caption “Corporate” includes corporate office expenses, new product development costs, stock-based compensation, costs of certain business initiatives and shared services or operations benefiting multiple segments, and results of insignificant operations. Identifiable assets of the business segments exclude general corporate assets, which principally consist of cash and cash equivalents, certain property, plant and equipment, and certain other assets pertaining to corporate activities. Intersegment sales generally include amounts invoiced by a segment for work performed for another segment. Amounts are based on actual work performed and agreed-upon pricing, which is intended to be reflective of the contribution made by the supplying business segment. Selected financial information concerning the Company’s reportable segments and product lines is as follows (in millions): Three Months Ended June 30, 2022 2021 External Inter- Net External Inter- Net Net sales: Access Equipment Aerial work platforms $ 451.5 $ — $ 451.5 $ 450.9 $ — $ 450.9 Telehandlers 309.8 — 309.8 233.5 — 233.5 Other 215.7 0.1 215.8 238.7 1.2 239.9 Total Access Equipment 977.0 0.1 977.1 923.1 1.2 924.3 Defense 538.9 0.4 539.3 709.9 0.5 710.4 Fire & Emergency 275.7 0.8 276.5 298.4 4.1 302.5 Commercial Refuse collection 143.4 — 143.4 137.4 — 137.4 Concrete mixers 104.6 — 104.6 113.4 — 113.4 Other 26.4 0.9 27.3 26.6 0.7 27.3 Total Commercial 274.4 0.9 275.3 277.4 0.7 278.1 Corporate and intersegment eliminations — ( 2.2 ) ( 2.2 ) — ( 6.5 ) ( 6.5 ) Consolidated $ 2,066.0 $ — $ 2,066.0 $ 2,208.8 $ — $ 2,208.8 Six Months Ended June 30, 2022 2021 External Inter- Net External Inter- Net Net sales: Access Equipment Aerial work platforms $ 891.2 $ — $ 891.2 $ 809.1 $ — $ 809.1 Telehandlers 539.5 — 539.5 408.7 — 408.7 Other 429.3 0.2 429.5 441.9 2.8 444.7 Total Access Equipment 1,860.0 0.2 1,860.2 1,659.7 2.8 1,662.5 Defense 1,074.1 0.8 1,074.9 1,324.2 0.9 1,325.1 Fire & Emergency 562.2 2.2 564.4 607.1 7.9 615.0 Commercial Refuse collection 272.7 — 272.7 241.8 — 241.8 Concrete mixers 189.7 — 189.7 210.7 — 210.7 Other 53.0 1.3 54.3 53.7 1.9 55.6 Total Commercial 515.4 1.3 516.7 506.2 1.9 508.1 Corporate and intersegment eliminations — ( 4.5 ) ( 4.5 ) 0.6 ( 13.5 ) ( 12.9 ) Consolidated $ 4,011.7 $ — $ 4,011.7 $ 4,097.8 $ — $ 4,097.8 Three Months Ended Six Months Ended 2022 2021 2022 2021 Operating income (loss): Access Equipment (a) $ 69.4 $ 113.0 $ 76.9 $ 193.5 Defense 2.1 59.8 21.5 95.3 Fire & Emergency 22.8 44.5 45.2 91.9 Commercial 15.1 29.6 29.4 48.4 Corporate ( 40.0 ) ( 43.1 ) ( 74.3 ) ( 84.5 ) Consolidated 69.4 203.8 98.7 344.6 Interest expense, net of interest income ( 11.9 ) ( 11.7 ) ( 23.5 ) ( 22.9 ) Miscellaneous other income (expense) ( 15.1 ) 0.4 ( 14.0 ) 3.5 Income before income taxes and losses of unconsolidated affiliates $ 42.4 $ 192.5 $ 61.2 $ 325.2 (a) Results for the three and six months ended June 30, 2021 include a $ 0.2 million charge and $ 1.4 million benefit for restructuring, respectively. The Company incurred additional charges of $ 1.1 million and $ 4.9 million of other costs related to restructuring plans in the three and six months ended June 30, 2021, respectively. June 30, December 31, Identifiable assets: Access Equipment: U.S. $ 2,460.5 $ 2,311.8 Europe, Africa and Middle East 429.4 460.3 Rest of the World 360.1 383.0 Total Access Equipment 3,250.0 3,155.1 Defense: U.S. 1,661.6 1,225.0 Rest of the World 6.8 7.2 Total Defense 1,668.4 1,232.2 Fire & Emergency U.S. 551.7 511.2 Rest of the World 23.8 — Total Fire & Emergency 575.5 511.2 Commercial: U.S. 380.6 379.6 Rest of the World 48.7 45.1 Total Commercial 429.3 424.7 Corporate - U.S. (a) 936.7 1,398.6 Consolidated $ 6,859.9 $ 6,721.8 (a) Primarily includes cash and short-term investments and the Company’s global headquarters. The following table presents net sales by geographic region based on product shipment destination (in millions): Three Months Ended June 30, 2022 Access Defense Fire & Commercial Eliminations Total Net sales: North America $ 841.8 $ 521.5 $ 264.4 $ 270.5 $ ( 2.2 ) $ 1,896.0 Europe, Africa and Middle East 67.1 17.4 5.9 0.7 — 91.1 Rest of the World 68.2 0.4 6.2 4.1 — 78.9 Consolidated $ 977.1 $ 539.3 $ 276.5 $ 275.3 $ ( 2.2 ) $ 2,066.0 Three Months Ended June 30, 2021 Access Defense Fire & Commercial Eliminations Total Net sales: North America $ 719.9 $ 682.4 $ 287.4 $ 275.6 $ ( 6.5 ) $ 1,958.8 Europe, Africa and Middle East 75.7 25.4 9.8 0.5 — 111.4 Rest of the World 128.7 2.6 5.3 2.0 — 138.6 Consolidated $ 924.3 $ 710.4 $ 302.5 $ 278.1 $ ( 6.5 ) $ 2,208.8 Six Months Ended June 30, 2022 Access Defense Fire & Commercial Eliminations Total Net sales: North America $ 1,574.7 $ 1,045.8 $ 539.8 $ 509.8 $ ( 4.5 ) $ 3,665.6 Europe, Africa and Middle East 148.1 28.4 5.9 1.6 — 184.0 Rest of the World 137.4 0.7 18.7 5.3 — 162.1 Consolidated $ 1,860.2 $ 1,074.9 $ 564.4 $ 516.7 $ ( 4.5 ) $ 4,011.7 Six Months Ended June 30, 2021 Access Defense Fire & Commercial Eliminations Total Net sales: North America $ 1,275.3 $ 1,233.6 $ 584.2 $ 503.6 $ ( 12.9 ) $ 3,583.8 Europe, Africa and Middle East 158.5 88.4 23.1 1.0 — 271.0 Rest of the World 228.7 3.1 7.7 3.5 — 243.0 Consolidated $ 1,662.5 $ 1,325.1 $ 615.0 $ 508.1 $ ( 12.9 ) $ 4,097.8

Basis of Presentation (Tables)

Basis of Presentation (Tables)	6 Months Ended
	Jun. 30, 2022
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Summary of Preliminary Fair Values of Assets Acquired and Liabilities Assumed	The following table summarizes the preliminary fair values of the assets acquired and liabilities assumed as of the date of acquisition (in millions): Assets Acquired: Current assets, excluding cash of $ 1.7 $ 7.5 Property, plant and equipment 1.6 Goodwill 8.9 Purchased intangible assets 3.8 Total assets 21.8 Liabilities Assumed: Current liabilities 2.0 Long-term liabilities 0.1 Total liabilities 2.1 Net assets acquired $ 19.7

Revenue Recognition (Tables)

Revenue Recognition (Tables)	6 Months Ended
	Jun. 30, 2022
Sales And Revenue Recognition [Abstract]
Schedule of Impact Due to Contract Adjustments	Contract adjustments impacted the Company’s results as follows (in millions, except per share amounts): Three Months Ended Six Months Ended 2022 2021 2022 2021 Net sales $ ( 18.2 ) $ 5.1 $ ( 23.6 ) $ 1.2 Operating income ( 23.6 ) 3.2 ( 31.7 ) ( 0.7 ) Net income ( 18.1 ) 2.5 ( 24.3 ) ( 0.5 ) Diluted earnings per share $ ( 0.27 ) $ 0.04 $ ( 0.37 ) $ —
Disaggregation of Revenue	Consolidated net sales disaggregated by segment and timing of revenue recognition are as follows (in millions): Three Months Ended June 30, 2022 Access Defense Fire & Commercial Corporate and Total Point in time $ 965.4 $ 2.2 $ 271.4 $ 167.7 $ ( 2.2 ) $ 1,404.5 Over time 11.7 537.1 5.1 107.6 — 661.5 $ 977.1 $ 539.3 $ 276.5 $ 275.3 $ ( 2.2 ) $ 2,066.0 Three Months Ended June 30, 2021 Access Defense Fire & Commercial Corporate and Total Point in time $ 907.1 $ 10.1 $ 297.8 $ 155.7 $ ( 6.4 ) $ 1,364.3 Over time 17.2 700.3 4.7 122.4 ( 0.1 ) 844.5 $ 924.3 $ 710.4 $ 302.5 $ 278.1 $ ( 6.5 ) $ 2,208.8 Six Months Ended June 30, 2022 Access Defense Fire & Commercial Corporate and Total Point in time $ 1,835.3 $ 4.3 $ 554.0 $ 322.0 $ ( 4.5 ) $ 2,711.1 Over time 24.9 1,070.6 10.4 194.7 — 1,300.6 $ 1,860.2 $ 1,074.9 $ 564.4 $ 516.7 $ ( 4.5 ) $ 4,011.7 Six Months Ended June 30, 2021 Access Defense Fire & Commercial Corporate and Total Point in time $ 1,628.2 $ 20.4 $ 605.4 $ 282.2 $ ( 13.5 ) $ 2,522.7 Over time 34.3 1,304.7 9.6 225.9 0.6 1,575.1 $ 1,662.5 $ 1,325.1 $ 615.0 $ 508.1 $ ( 12.9 ) $ 4,097.8
Schedule of Contract Liabilities and Revenue Recognized	Contract liabilities consisted of the following (in millions): June 30, December 31, 2022 2021 Customer advances $ 757.1 $ 690.9 Other current liabilities 77.2 81.9 Long-term customer advances 550.2 207.0 Other long-term liabilities 59.2 54.9 Total contract liabilities $ 1,443.7 $ 1,034.7 Three Months Ended Six Months Ended 2022 2021 2022 2021 Beginning liabilities recognized in revenue $ 196.5 $ 158.2 $ 314.8 $ 288.0
Schedule of Deferred Contract Related Costs	Deferred contract related costs, the majority of which related to the NGDV contract, consisted of the following (in millions): June 30, December 31, 2022 2021 Costs for anticipated contracts $ 5.5 $ 4.9 Engineering costs 147.8 60.0 Factory setup costs 14.5 4.1 Customer-owned tooling 39.0 4.2 Deferred contract related costs $ 206.8 $ 73.2
Schedule of Changes in Warranty Liability and Unearned Extended Warranty Premiums	Changes in the Company’s service-type warranties were as follows (in millions): Six Months Ended 2022 2021 Balance at beginning of period $ 66.9 $ 63.0 Deferred revenue for new service warranties 14.8 14.2 Amortization of deferred revenue ( 10.6 ) ( 12.6 ) Foreign currency translation ( 0.5 ) ( 0.1 ) Balance at end of period $ 70.6 $ 64.5 Changes in the Company’s assurance-type warranty liability were as follows (in millions): Six Months Ended 2022 2021 Balance at beginning of period $ 65.7 $ 64.6 Warranty provisions 24.9 21.9 Settlements made ( 29.8 ) ( 34.3 ) Changes in liability for pre-existing warranties, net 0.3 17.5 Foreign currency translation ( 0.3 ) ( 0.1 ) Acquisition 0.2 0.3 Balance at end of period $ 61.0 $ 69.9
Schedule of Classification of Service-type Warranties in Condensed Consolidated Balance Sheets	Classification of service-type warranties in the Condensed Consolidated Balance Sheets consisted of the following (in millions): June 30, December 31, 2022 2021 Other current liabilities $ 24.4 $ 22.3 Other long-term liabilities 46.2 44.6 $ 70.6 $ 66.9

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	3 Months Ended
	Jun. 30, 2022
Defined Benefit Plans And Other Postretirement Benefit Plans Disclosures [Abstract]
Schedule of Net Periodic Benefit Cost	Components of net periodic pension benefit cost were as follows (in millions): Three Months Ended Six Months Ended 2022 2021 2022 2021 Components of net periodic benefit cost Service cost $ 2.6 $ 2.8 $ 5.2 $ 5.7 Interest cost 4.2 4.1 8.5 8.2 Expected return on plan assets ( 5.1 ) ( 4.9 ) ( 10.3 ) ( 9.9 ) Amortization of prior service cost (benefit) 0.6 0.6 1.1 1.1 Amortization of net actuarial loss (gain) 0.2 1.4 0.4 2.6 Expenses paid 0.8 0.8 1.6 1.6 Net periodic benefit cost $ 3.3 $ 4.8 $ 6.5 $ 9.3 Components of net periodic other post-employment benefit cost were as follows (in millions): Three Months Ended Six Months Ended 2022 2021 2022 2021 Components of net periodic benefit cost Service cost $ 0.5 $ 0.6 $ 1.1 $ 1.1 Interest cost 0.4 0.3 0.7 0.6 Amortization of prior service cost (benefit) ( 0.4 ) ( 0.4 ) ( 0.7 ) ( 0.7 ) Amortization of net actuarial loss (gain) 0.1 0.1 0.2 0.1 Net periodic benefit cost $ 0.6 $ 0.6 $ 1.3 $ 1.1

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The reconciliation of basic weighted-average shares outstanding to diluted weighted-average shares outstanding was as follows: Three Months Ended Six Months Ended 2022 2021 2022 2021 Basic weighted-average common shares outstanding 65,613,527 68,781,801 66,001,628 68,648,351 Dilutive stock options and other equity-based compensation awards 395,333 829,844 458,668 802,523 Diluted weighted-average common shares outstanding 66,008,860 69,611,645 66,460,296 69,450,874
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	Shares for stock-based compensation not included in the computation of diluted earnings per share attributable to common shareholders because they would have been anti-dilutive were as follows: Three Months Ended Six Months Ended 2022 2021 2022 2021 Shares for stock-based compensation 160,198 — 80,099 —

Receivables (Tables)

Receivables (Tables)	6 Months Ended
	Jun. 30, 2022
Receivables [Abstract]
Schedule of Receivables	Receivables consisted of the following (in millions): June 30, December 31, Trade receivables - U.S. government $ 230.9 $ 140.7 Trade receivables - other 944.5 797.5 Finance receivables 6.5 8.0 Other receivables 49.2 40.0 1,231.1 986.2 Less allowance for doubtful accounts ( 6.4 ) ( 4.2 ) $ 1,224.7 $ 982.0
Classification of Receivables in the Condensed Consolidated Balance Sheets	Classification of receivables in the Condensed Consolidated Balance Sheets consisted of the following (in millions): June 30, December 31, Current receivables $ 1,216.4 $ 973.4 Long-term receivables 8.3 8.6 $ 1,224.7 $ 982.0
Schedule of Allowance for Doubtful Accounts	Changes in the Company’s allowance for doubtful accounts by type of receivable were as follows (in millions): Three Months Ended June 30, 2022 Three Months Ended June 30, 2021 Finance Trade and Total Finance Trade and Total Allowance at beginning of period $ 0.4 $ 5.5 $ 5.9 $ 1.1 $ 4.6 $ 5.7 Provision for doubtful accounts, net of recoveries ( 0.1 ) 0.6 0.5 ( 0.2 ) ( 0.8 ) ( 1.0 ) Allowance at end of period $ 0.3 $ 6.1 $ 6.4 $ 0.9 $ 3.8 $ 4.7 Six Months Ended June 30, 2022 Six Months Ended June 30, 2021 Finance Trade and Total Finance Trade and Total Allowance at beginning of period $ 0.5 $ 3.7 $ 4.2 $ 1.4 $ 4.4 $ 5.8 Provision for doubtful accounts, net of recoveries ( 0.2 ) 2.4 2.2 ( 0.5 ) ( 0.6 ) ( 1.1 ) Allowance at end of period $ 0.3 $ 6.1 $ 6.4 $ 0.9 $ 3.8 $ 4.7

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2022
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories consisted of the following (in millions): June 30, December 31, Raw materials $ 1,045.3 $ 984.4 Partially finished products 428.0 334.0 Finished products 291.6 239.7 Inventories at FIFO cost 1,764.9 1,558.1 Less: Excess of FIFO cost over LIFO cost ( 180.6 ) ( 175.4 ) $ 1,584.3 $ 1,382.7

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	6 Months Ended
	Jun. 30, 2022
Property Plant And Equipment [Abstract]
Schedule of Property, Plant and Equipment	Property, plant and equipment consisted of the following (in millions): June 30, December 31, Land and land improvements $ 73.2 $ 72.0 Buildings 414.3 410.9 Machinery and equipment 797.8 740.9 Software and related costs 199.2 201.3 Equipment on operating lease to others 10.2 9.9 Construction in progress 107.3 45.3 1,602.0 1,480.3 Less accumulated depreciation ( 927.5 ) ( 887.1 ) $ 674.5 $ 593.2

Goodwill and Purchased Intang_2

Goodwill and Purchased Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2022
Goodwill And Intangible Assets Disclosure [Abstract]
Schedule of Changes in Goodwill	The following table presents changes in goodwill during the six months ended June 30, 2022 (in millions): Access Defense Fire & Commercial Total Net goodwill at December 31, 2021 $ 877.6 $ 44.4 $ 106.1 $ 20.9 $ 1,049.0 Foreign currency translation ( 14.9 ) — — — ( 14.9 ) Acquisition — — 8.9 — 8.9 Net goodwill at June 30, 2022 $ 862.7 $ 44.4 $ 115.0 $ 20.9 $ 1,043.0
Schedule of Company's Goodwill Allocated to the Reportable Segments	The following table presents details of the Company’s goodwill allocated to the reportable segments (in millions): June 30, 2022 December 31, 2021 Gross Accumulated Net Gross Accumulated Net Access Equipment $ 1,794.8 $ ( 932.1 ) $ 862.7 $ 1,809.7 $ ( 932.1 ) $ 877.6 Defense 44.4 — 44.4 44.4 — 44.4 Fire & Emergency 117.0 ( 2.0 ) 115.0 108.1 ( 2.0 ) 106.1 Commercial 188.5 ( 167.6 ) 20.9 188.5 ( 167.6 ) 20.9 $ 2,144.7 $ ( 1,101.7 ) $ 1,043.0 $ 2,150.7 $ ( 1,101.7 ) $ 1,049.0
Schedule of Purchased Intangible Assets	Details of the Company’s total purchased intangible assets are as follows (in millions): June 30, 2022 Weighted- Gross Accumulated Net Amortizable intangible assets: Distribution network 39.2 $ 55.4 $ ( 36.3 ) $ 19.1 Technology-related 12.0 108.3 ( 104.1 ) 4.2 Customer relationships 12.6 572.5 ( 554.2 ) 18.3 Other 12.0 23.5 ( 20.3 ) 3.2 14.4 759.7 ( 714.9 ) 44.8 Preliminary acquisition amortizable intangible assets 5.0 3.8 — 3.8 14.4 763.5 ( 714.9 ) 48.6 Non-amortizable trade names 417.0 — 417.0 $ 1,180.5 $ ( 714.9 ) $ 465.6 December 31, 2021 Weighted- Gross Accumulated Net Amortizable intangible assets: Distribution network 39.2 $ 55.4 $ ( 35.6 ) $ 19.8 Technology-related 11.9 104.7 ( 104.0 ) 0.7 Customer relationships 12.6 572.6 ( 551.3 ) 21.3 Other 12.1 23.6 ( 18.5 ) 5.1 14.4 756.3 ( 709.4 ) 46.9 Non-amortizable trade names 417.1 — 417.1 $ 1,173.4 $ ( 709.4 ) $ 464.0

Credit Agreements (Tables)

Credit Agreements (Tables)	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Schedule of Debt Instruments	The Company was obligated under the following debt instruments (in millions): June 30, 2022 Principal Debt Issuance Costs Debt, Net 4.600 % Senior notes due May 2028 $ 300.0 $ ( 2.3 ) $ 297.7 3.100 % Senior notes due March 2030 300.0 ( 3.1 ) 296.9 $ 600.0 $ ( 5.4 ) $ 594.6 Other short-term debt $ 10.0 December 31, 2021 Principal Debt Issuance Costs Debt, Net Senior Term Loan $ 225.0 $ ( 0.2 ) $ 224.8 4.600 % Senior notes due May 2028 300.0 ( 2.5 ) 297.5 3.100 % Senior notes due March 2030 300.0 ( 3.3 ) 296.7 $ 825.0 $ ( 6.0 ) $ 819.0

Warranties (Tables)

Warranties (Tables)	6 Months Ended
	Jun. 30, 2022
Product Warranties Disclosures [Abstract]
Schedule of Changes in Warranty Liability and Unearned Extended Warranty Premiums	Changes in the Company’s service-type warranties were as follows (in millions): Six Months Ended 2022 2021 Balance at beginning of period $ 66.9 $ 63.0 Deferred revenue for new service warranties 14.8 14.2 Amortization of deferred revenue ( 10.6 ) ( 12.6 ) Foreign currency translation ( 0.5 ) ( 0.1 ) Balance at end of period $ 70.6 $ 64.5 Changes in the Company’s assurance-type warranty liability were as follows (in millions): Six Months Ended 2022 2021 Balance at beginning of period $ 65.7 $ 64.6 Warranty provisions 24.9 21.9 Settlements made ( 29.8 ) ( 34.3 ) Changes in liability for pre-existing warranties, net 0.3 17.5 Foreign currency translation ( 0.3 ) ( 0.1 ) Acquisition 0.2 0.3 Balance at end of period $ 61.0 $ 69.9

Guarantee Arrangements (Tables)

Guarantee Arrangements (Tables)	6 Months Ended
	Jun. 30, 2022
Non-Contingent Portion
Schedule of Provision for Losses on Customer Guarantees	Changes in the non-contingent portion of the Company’s guarantee liabilities were as follows (in millions): Three Months Ended Six Months Ended 2022 2021 2022 2021 Balance at beginning of period $ 10.1 $ 13.8 $ 12.1 $ 14.7 Provision for new credit guarantees 1.0 0.7 2.0 1.1 Changes for pre-existing guarantees, net 1.4 ( 0.2 ) ( 1.1 ) ( 0.6 ) Amortization of previous guarantees ( 0.3 ) ( 0.4 ) ( 0.8 ) ( 1.3 ) Foreign currency translation ( 0.1 ) ( 0.1 ) ( 0.1 ) ( 0.1 ) Balance at end of period $ 12.1 $ 13.8 $ 12.1 $ 13.8
Contingent Portion
Schedule of Provision for Losses on Customer Guarantees	Changes in the contingent portion of the Company’s guarantee liabilities were as follows (in millions): Three Months Ended Six Months Ended 2022 2021 2022 2021 Balance at beginning of period $ 9.7 $ 6.9 $ 4.0 $ 6.9 Provision for new credit guarantees 0.5 0.4 1.1 0.7 Changes in allowance for pre-existing guarantees, net ( 3.2 ) ( 0.5 ) 1.8 ( 0.8 ) Foreign currency translation ( 0.3 ) — ( 0.2 ) — Balance at end of period $ 6.7 $ 6.8 $ 6.7 $ 6.8

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	6 Months Ended
	Jun. 30, 2022
Accumulated Other Comprehensive Income Loss Net Of Tax [Abstract]
Schedule of Changes in Accumulated Other Comprehensive Income (Loss) by Component	Changes in accumulated other comprehensive income (loss) by component were as follows (in millions): Three Months Ended June 30, 2022 Employee Pension Cumulative Derivative Accumulated Other Balance at beginning of period $ ( 25.2 ) $ ( 111.7 ) $ 3.0 $ ( 133.9 ) Other comprehensive income (loss) before reclassifications — ( 33.9 ) 4.5 ( 29.4 ) Amounts reclassified from accumulated other comprehensive income (loss) 0.4 — ( 0.1 ) 0.3 Net current period other comprehensive income (loss) 0.4 ( 33.9 ) 4.4 ( 29.1 ) Balance at end of period $ ( 24.8 ) $ ( 145.6 ) $ 7.4 $ ( 163.0 ) Three Months Ended June 30, 2021 Employee Pension Cumulative Derivative Accumulated Other Balance at beginning of period $ ( 93.5 ) $ ( 90.3 ) $ ( 0.1 ) $ ( 183.9 ) Other comprehensive income (loss) before reclassifications — 7.7 0.3 8.0 Amounts reclassified from accumulated other comprehensive income (loss) 1.1 — — 1.1 Net current period other comprehensive income (loss) 1.1 7.7 0.3 9.1 Balance at end of period $ ( 92.4 ) $ ( 82.6 ) $ 0.2 $ ( 174.8 ) Six Months Ended June 30, 2022 Employee Pension Cumulative Derivative Accumulated Other Balance at beginning of period $ ( 25.6 ) $ ( 105.2 ) $ 2.2 $ ( 128.6 ) Other comprehensive income (loss) before reclassifications — ( 40.4 ) 5.4 ( 35.0 ) Amounts reclassified from accumulated other comprehensive income (loss) 0.8 — ( 0.2 ) 0.6 Net current period other comprehensive income (loss) 0.8 ( 40.4 ) 5.2 ( 34.4 ) Balance at end of period $ ( 24.8 ) $ ( 145.6 ) $ 7.4 $ ( 163.0 ) Six Months Ended June 30, 2021 Employee Pension Cumulative Derivative Accumulated Other Balance at beginning of period $ ( 94.7 ) $ ( 70.3 ) $ ( 0.5 ) $ ( 165.5 ) Other comprehensive income (loss) before reclassifications — ( 12.3 ) 0.7 ( 11.6 ) Amounts reclassified from accumulated other comprehensive income (loss) 2.3 — — 2.3 Net current period other comprehensive income (loss) 2.3 ( 12.3 ) 0.7 ( 9.3 ) Balance at end of period $ ( 92.4 ) $ ( 82.6 ) $ 0.2 $ ( 174.8 )
Schedule of Reclassifications Out of Accumulated Other Comprehensive Income (Loss) on Condensed Consolidated Statements of Income	Reclassifications out of accumulated other comprehensive income (loss) included in the computation of net periodic pension and postretirement benefit cost (See Note 4 of the Notes to Condensed Consolidated Financial Statements for additional details regarding employee benefit plans) were as follows (in millions): Classification of Three Months Ended Six Months Ended 2022 2021 2022 2021 Amortization of employee pension and postretirement benefits items Prior service costs Miscellaneous, net $ 0.2 $ 0.2 $ 0.4 $ 0.4 Actuarial losses Miscellaneous, net 0.3 1.5 0.6 2.7 Total before tax 0.5 1.7 1.0 3.1 Tax benefit ( 0.1 ) ( 0.6 ) ( 0.2 ) ( 0.8 ) Net of tax $ 0.4 $ 1.1 $ 0.8 $ 2.3

Fair Value Measurement (Tables)

Fair Value Measurement (Tables)	6 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Schedule of Fair Values of Financial Assets and Liabilities	The fair value of the Company’s financial assets and liabilities were as follows (in millions): Level 1 Level 2 Level 3 Total June 30, 2022 Assets: SERP plan assets (a) $ 14.1 $ — $ — $ 14.1 Investment in equity securities (b) 5.6 — — 5.6 Foreign currency exchange derivatives (c) — 11.4 — 11.4 Liabilities: Foreign currency exchange derivatives (c) $ — $ 0.9 $ — $ 0.9 December 31, 2021 Assets: SERP plan assets (a) $ 21.3 $ — $ — $ 21.3 Investment in equity securities (b) 14.2 — — 14.2 Foreign currency exchange derivatives (c) — 3.7 — 3.7 Liabilities: Foreign currency exchange derivatives (c) $ — $ 0.9 $ — $ 0.9 (a) Represents investments held in a rabbi trust for the Company’s non-qualified supplemental executive retirement plan (SERP). The fair values of these investments are determined using a market approach. Investments include mutual funds for which quoted prices in active markets are available. The Company records changes in the fair value of investments in “Miscellaneous, net” in the Condensed Consolidated Statements of Income. (b) Represents investments in equity securities for which quoted prices in active markets are available. The Company records changes in the fair value of investments in “Miscellaneous, net” in the Condensed Consolidated Statements of Income. (c) Based on observable market transactions of forward currency prices.

Business Segment Information (T

Business Segment Information (Tables)	6 Months Ended
	Jun. 30, 2022
Segment Reporting [Abstract]
Schedule of Net Sales by Product Lines and Reportable Segments	Selected financial information concerning the Company’s reportable segments and product lines is as follows (in millions): Three Months Ended June 30, 2022 2021 External Inter- Net External Inter- Net Net sales: Access Equipment Aerial work platforms $ 451.5 $ — $ 451.5 $ 450.9 $ — $ 450.9 Telehandlers 309.8 — 309.8 233.5 — 233.5 Other 215.7 0.1 215.8 238.7 1.2 239.9 Total Access Equipment 977.0 0.1 977.1 923.1 1.2 924.3 Defense 538.9 0.4 539.3 709.9 0.5 710.4 Fire & Emergency 275.7 0.8 276.5 298.4 4.1 302.5 Commercial Refuse collection 143.4 — 143.4 137.4 — 137.4 Concrete mixers 104.6 — 104.6 113.4 — 113.4 Other 26.4 0.9 27.3 26.6 0.7 27.3 Total Commercial 274.4 0.9 275.3 277.4 0.7 278.1 Corporate and intersegment eliminations — ( 2.2 ) ( 2.2 ) — ( 6.5 ) ( 6.5 ) Consolidated $ 2,066.0 $ — $ 2,066.0 $ 2,208.8 $ — $ 2,208.8 Six Months Ended June 30, 2022 2021 External Inter- Net External Inter- Net Net sales: Access Equipment Aerial work platforms $ 891.2 $ — $ 891.2 $ 809.1 $ — $ 809.1 Telehandlers 539.5 — 539.5 408.7 — 408.7 Other 429.3 0.2 429.5 441.9 2.8 444.7 Total Access Equipment 1,860.0 0.2 1,860.2 1,659.7 2.8 1,662.5 Defense 1,074.1 0.8 1,074.9 1,324.2 0.9 1,325.1 Fire & Emergency 562.2 2.2 564.4 607.1 7.9 615.0 Commercial Refuse collection 272.7 — 272.7 241.8 — 241.8 Concrete mixers 189.7 — 189.7 210.7 — 210.7 Other 53.0 1.3 54.3 53.7 1.9 55.6 Total Commercial 515.4 1.3 516.7 506.2 1.9 508.1 Corporate and intersegment eliminations — ( 4.5 ) ( 4.5 ) 0.6 ( 13.5 ) ( 12.9 ) Consolidated $ 4,011.7 $ — $ 4,011.7 $ 4,097.8 $ — $ 4,097.8
Schedule of Income (Loss) from Continuing Operations by Product Lines and Reportable Segments	Three Months Ended Six Months Ended 2022 2021 2022 2021 Operating income (loss): Access Equipment (a) $ 69.4 $ 113.0 $ 76.9 $ 193.5 Defense 2.1 59.8 21.5 95.3 Fire & Emergency 22.8 44.5 45.2 91.9 Commercial 15.1 29.6 29.4 48.4 Corporate ( 40.0 ) ( 43.1 ) ( 74.3 ) ( 84.5 ) Consolidated 69.4 203.8 98.7 344.6 Interest expense, net of interest income ( 11.9 ) ( 11.7 ) ( 23.5 ) ( 22.9 ) Miscellaneous other income (expense) ( 15.1 ) 0.4 ( 14.0 ) 3.5 Income before income taxes and losses of unconsolidated affiliates $ 42.4 $ 192.5 $ 61.2 $ 325.2 (a) Results for the three and six months ended June 30, 2021 include a $ 0.2 million charge and $ 1.4 million benefit for restructuring, respectively. The Company incurred additional charges of $ 1.1 million and $ 4.9 million of other costs related to restructuring plans in the three and six months ended June 30, 2021, respectively.
Schedule of Identifiable Assets by Business Segments and by Geographical Areas	June 30, December 31, Identifiable assets: Access Equipment: U.S. $ 2,460.5 $ 2,311.8 Europe, Africa and Middle East 429.4 460.3 Rest of the World 360.1 383.0 Total Access Equipment 3,250.0 3,155.1 Defense: U.S. 1,661.6 1,225.0 Rest of the World 6.8 7.2 Total Defense 1,668.4 1,232.2 Fire & Emergency U.S. 551.7 511.2 Rest of the World 23.8 — Total Fire & Emergency 575.5 511.2 Commercial: U.S. 380.6 379.6 Rest of the World 48.7 45.1 Total Commercial 429.3 424.7 Corporate - U.S. (a) 936.7 1,398.6 Consolidated $ 6,859.9 $ 6,721.8 (a) Primarily includes cash and short-term investments and the Company’s global headquarters.
Schedule of Net Sales by Geographical Areas	The following table presents net sales by geographic region based on product shipment destination (in millions): Three Months Ended June 30, 2022 Access Defense Fire & Commercial Eliminations Total Net sales: North America $ 841.8 $ 521.5 $ 264.4 $ 270.5 $ ( 2.2 ) $ 1,896.0 Europe, Africa and Middle East 67.1 17.4 5.9 0.7 — 91.1 Rest of the World 68.2 0.4 6.2 4.1 — 78.9 Consolidated $ 977.1 $ 539.3 $ 276.5 $ 275.3 $ ( 2.2 ) $ 2,066.0 Three Months Ended June 30, 2021 Access Defense Fire & Commercial Eliminations Total Net sales: North America $ 719.9 $ 682.4 $ 287.4 $ 275.6 $ ( 6.5 ) $ 1,958.8 Europe, Africa and Middle East 75.7 25.4 9.8 0.5 — 111.4 Rest of the World 128.7 2.6 5.3 2.0 — 138.6 Consolidated $ 924.3 $ 710.4 $ 302.5 $ 278.1 $ ( 6.5 ) $ 2,208.8 Six Months Ended June 30, 2022 Access Defense Fire & Commercial Eliminations Total Net sales: North America $ 1,574.7 $ 1,045.8 $ 539.8 $ 509.8 $ ( 4.5 ) $ 3,665.6 Europe, Africa and Middle East 148.1 28.4 5.9 1.6 — 184.0 Rest of the World 137.4 0.7 18.7 5.3 — 162.1 Consolidated $ 1,860.2 $ 1,074.9 $ 564.4 $ 516.7 $ ( 4.5 ) $ 4,011.7 Six Months Ended June 30, 2021 Access Defense Fire & Commercial Eliminations Total Net sales: North America $ 1,275.3 $ 1,233.6 $ 584.2 $ 503.6 $ ( 12.9 ) $ 3,583.8 Europe, Africa and Middle East 158.5 88.4 23.1 1.0 — 271.0 Rest of the World 228.7 3.1 7.7 3.5 — 243.0 Consolidated $ 1,662.5 $ 1,325.1 $ 615.0 $ 508.1 $ ( 12.9 ) $ 4,097.8

Basis of Presentation - Additio

Basis of Presentation - Additional Information (Details) - Maxi-Metal $ in Millions, $ in Millions			1 Months Ended	3 Months Ended	6 Months Ended
	Jun. 13, 2022 CAD ($)	Jun. 13, 2022 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2022 USD ($)
Purchase price	$ 25.3	$ 19.7
Consideration paid in cash		19.5
Amount Payable for Post-Closing Working Capital Adjustments		$ 0.2
Sales of acquiree			$ 1
Transaction costs related to acquisition				$ 0.4	$ 0.4

Basis of Presentation - Summary

Basis of Presentation - Summary of Preliminary Fair Values of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Millions	Jun. 30, 2022	Jun. 13, 2022	Dec. 31, 2021
Assets Acquired:
Goodwill	$ 1,043		$ 1,049
Maxi-Metal
Assets Acquired:
Current assets, excluding cash of $1.7		$ 7.5
Property, plant and equipment		1.6
Goodwill		8.9
Purchased intangible assets		3.8
Total assets		21.8
Liabilities Assumed:
Current liabilities		2
Long-term liabilities		0.1
Total liabilities		2.1
Net assets acquired		$ 19.7

Basis of Presentation - Summa_2

Basis of Presentation - Summary of Preliminary Fair Values of Assets Acquired and Liabilities (Parenthetical) (Details) $ in Millions	Jun. 13, 2022 USD ($)
Maxi-Metal
Current assets, cash	$ 1.7

Revenue Recognition - Schedule

Revenue Recognition - Schedule of Impact Due to Contract Adjustments (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Disaggregation Of Revenue [Abstract]
Net sales	$ (18.2)	$ 5.1	$ (23.6)	$ 1.2
Operating income	(23.6)	3.2	(31.7)	(0.7)
Net income	$ (18.1)	$ 2.5	$ (24.3)	$ (0.5)
Diluted earnings per share	$ (0.27)	$ 0.04	$ (0.37)

Revenue Recognition - Disaggreg

Revenue Recognition - Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Disaggregation Of Revenue [Line Items]
Net sales	$ 2,066	$ 2,208.8	$ 4,011.7	$ 4,097.8
Operating Segments
Disaggregation Of Revenue [Line Items]
Net sales	2,066		4,011.7
Intersegment Eliminations
Disaggregation Of Revenue [Line Items]
Net sales	(2.2)	(6.5)	(4.5)	(12.9)
Transferred at Point in Time
Disaggregation Of Revenue [Line Items]
Net sales	1,404.5	1,364.3	2,711.1	2,522.7
Transferred at Point in Time | Intersegment Eliminations
Disaggregation Of Revenue [Line Items]
Net sales	(2.2)	(6.4)	(4.5)	(13.5)
Transferred over Time
Disaggregation Of Revenue [Line Items]
Net sales	661.5	844.5	1,300.6	1,575.1
Transferred over Time | Intersegment Eliminations
Disaggregation Of Revenue [Line Items]
Net sales		(0.1)		0.6
Access Equipment
Disaggregation Of Revenue [Line Items]
Net sales	977	923.1	1,860	1,659.7
Access Equipment | Operating Segments
Disaggregation Of Revenue [Line Items]
Net sales	977.1	924.3	1,860.2	1,662.5
Access Equipment | Intersegment Eliminations
Disaggregation Of Revenue [Line Items]
Net sales	0.1	1.2	0.2	2.8
Access Equipment | Transferred at Point in Time | Operating Segments
Disaggregation Of Revenue [Line Items]
Net sales	965.4	907.1	1,835.3	1,628.2
Access Equipment | Transferred over Time | Operating Segments
Disaggregation Of Revenue [Line Items]
Net sales	11.7	17.2	24.9	34.3
Defense
Disaggregation Of Revenue [Line Items]
Net sales	538.9	709.9	1,074.1	1,324.2
Defense | Operating Segments
Disaggregation Of Revenue [Line Items]
Net sales	539.3	710.4	1,074.9	1,325.1
Defense | Intersegment Eliminations
Disaggregation Of Revenue [Line Items]
Net sales	0.4	0.5	0.8	0.9
Defense | Transferred at Point in Time | Operating Segments
Disaggregation Of Revenue [Line Items]
Net sales	2.2	10.1	4.3	20.4
Defense | Transferred over Time | Operating Segments
Disaggregation Of Revenue [Line Items]
Net sales	537.1	700.3	1,070.6	1,304.7
Fire & Emergency
Disaggregation Of Revenue [Line Items]
Net sales	275.7	298.4	562.2	607.1
Fire & Emergency | Operating Segments
Disaggregation Of Revenue [Line Items]
Net sales	276.5	302.5	564.4	615
Fire & Emergency | Intersegment Eliminations
Disaggregation Of Revenue [Line Items]
Net sales	0.8	4.1	2.2	7.9
Fire & Emergency | Transferred at Point in Time | Operating Segments
Disaggregation Of Revenue [Line Items]
Net sales	271.4	297.8	554	605.4
Fire & Emergency | Transferred over Time | Operating Segments
Disaggregation Of Revenue [Line Items]
Net sales	5.1	4.7	10.4	9.6
Commercial
Disaggregation Of Revenue [Line Items]
Net sales	274.4	277.4	515.4	506.2
Commercial | Operating Segments
Disaggregation Of Revenue [Line Items]
Net sales	275.3	278.1	516.7	508.1
Commercial | Intersegment Eliminations
Disaggregation Of Revenue [Line Items]
Net sales	0.9	0.7	1.3	1.9
Commercial | Transferred at Point in Time | Operating Segments
Disaggregation Of Revenue [Line Items]
Net sales	167.7	155.7	322	282.2
Commercial | Transferred over Time | Operating Segments
Disaggregation Of Revenue [Line Items]
Net sales	$ 107.6	$ 122.4	$ 194.7	$ 225.9

Revenue Recognition - Additiona

Revenue Recognition - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Contract Fulfilment or Customer-owned Tooling Costs
Disaggregation Of Revenue [Line Items]
Impairment losses on contract assets	$ 0	$ 0	$ 0	$ 0
Fire & Emergency
Disaggregation Of Revenue [Line Items]
Interest charges on customer advances	6,000,000	4,400,000	11,000,000	8,900,000
Impairment losses on contract assets	$ 0	$ 0	$ 0	$ 0

Revenue Recognition - Schedul_2

Revenue Recognition - Schedule of Contract Liabilities (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Contract With Customer Liability [Abstract]
Customer advances	$ 757.1	$ 690.9
Other current liabilities	77.2	81.9
Long-term customer advances	550.2	207
Other long-term liabilities	59.2	54.9
Total contract liabilities	$ 1,443.7	$ 1,034.7

Revenue Recognition - Schedul_3

Revenue Recognition - Schedule of Contract Liabilities Recognized in Revenue (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Contract With Customer Liability [Abstract]
Beginning liabilities recognized in revenue	$ 196.5	$ 158.2	$ 314.8	$ 288

Revenue Recognition - Schedul_4

Revenue Recognition - Schedule of Deferred Contract Related Costs (Details) - Other Long -term Assets - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Costs for Anticipated Contracts
Capitalized Contract Cost [Line Items]
Deferred contract related costs	$ 5.5	$ 4.9
Engineering Costs
Capitalized Contract Cost [Line Items]
Deferred contract related costs	147.8	60
Factory Setup Costs
Capitalized Contract Cost [Line Items]
Deferred contract related costs	14.5	4.1
Customer-owned Tooling
Capitalized Contract Cost [Line Items]
Deferred contract related costs	39	4.2
Deferred Contract Related Costs
Capitalized Contract Cost [Line Items]
Deferred contract related costs	$ 206.8	$ 73.2

Revenue Recognition - Schedul_5

Revenue Recognition - Schedule of Changes in Warranty Liability and Unearned Extended Warranty Premiums (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Disaggregation Of Revenue [Abstract]
Balance at beginning of period	$ 66.9	$ 63
Deferred revenue for new service warranties	14.8	14.2
Amortization of deferred revenue	(10.6)	(12.6)
Foreign currency translation	(0.5)	(0.1)
Balance at end of period	$ 70.6	$ 64.5

Revenue Recognition - Schedul_6

Revenue Recognition - Schedule of Classification of Service-type Warranties in Condensed Consolidated Balance Sheets (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021	Jun. 30, 2021	Dec. 31, 2020
Extended Product Warranty Accrual Balance Sheet Classification [Abstract]
Service-type warranties, other current liabilities	$ 24.4	$ 22.3
Service-type warranties, other long-term liabilities	46.2	44.6
Service-type warranties	$ 70.6	$ 66.9	$ 64.5	$ 63

Revenue Recognition - Additio_2

Revenue Recognition - Additional Information (Details 1) $ in Millions	Jun. 30, 2022 USD ($)
Disaggregation Of Revenue [Abstract]
Revenue, Remaining Performance Obligation, Amount	$ 8,440
Transaction price allocated to performance obligations to be satisfied during remaining fiscal 2022	1,480
Transaction price allocated to performance obligations to be satisfied during fiscal 2023	2,580
Transaction price allocated to performance obligations to be satisfied beyond fiscal 2023	$ 4,370

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Common stock reserved for issuance stock awards (in shares)	3,576,025		3,576,025
Stock-based compensation expense	$ 6.2	$ 6.2	$ 12.7	$ 16.1
Stock-based compensation expense, net of tax	$ 5.1	$ 5.3	$ 10.6	$ 13.6

Employee Benefit Plans - Schedu

Employee Benefit Plans - Schedule of Net Periodic Benefit Cost (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Pension benefit
Components of net periodic benefit cost
Service cost	$ 2.6	$ 2.8	$ 5.2	$ 5.7
Interest cost	4.2	4.1	8.5	8.2
Expected return on plan assets	(5.1)	(4.9)	(10.3)	(9.9)
Amortization of prior service cost (benefit)	0.6	0.6	1.1	1.1
Amortization of net actuarial loss (gain)	0.2	1.4	(0.4)	2.6
Expenses paid	0.8	0.8	1.6	1.6
Net periodic benefit cost	3.3	4.8	6.5	9.3
Other post-employment benefit
Components of net periodic benefit cost
Service cost	0.5	0.6	1.1	1.1
Interest cost	0.4	0.3	0.7	0.6
Amortization of prior service cost (benefit)	(0.4)	(0.4)	(0.7)	(0.7)
Amortization of net actuarial loss (gain)	0.1	0.1	0.2	0.1
Net periodic benefit cost	$ 0.6	$ 0.6	$ 1.3	$ 1.1

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2023	Dec. 31, 2021
Income tax expense	$ 13.7	$ (21.9)	$ 33.9	$ 11.3
Effective income tax rate (as a percent)	32.30%		55.40%	3.50%
Income tax expense (benefit) related to taxes on income in prior periods			$ 18.1
Income tax expense (benefit), tax credit, discrete items	$ 1.5		16.9
Discrete tax benefit related to tax plan		$ 69.9		$ 69.9
Unrecognized tax benefits	83.4		83.4			$ 41.5
Unrecognized tax benefits, related to foreign anti-hybrid legislation			19.2
Unrecognized tax benefits, federal reserve for temporary deferred position			22.3
Net unrecognized tax benefits, excluding interest and penalties that would affect the company's net income if recognized	45.3		45.3
Interest and penalties			0.7	$ 0.9
Accruals for payment of interest and penalties	$ 4.2		$ 4.2
Scenario Forecast
Significant change in unrecognized tax benefits is reasonably possible, amount of unrecorded benefit					$ 5.3

Earnings Per Share - Schedule o

Earnings Per Share - Schedule of Earnings Per Share, Basic and Diluted (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Weighted-Average Common Shares Outstanding
Basic weighted-average common shares outstanding	65,613,527	68,781,801	66,001,628	68,648,351
Dilutive stock options and other equity-based compensation awards	395,333	829,844	458,668	802,523
Diluted weighted-average common shares outstanding	66,008,860	69,611,645	66,460,296	69,450,874

Earnings Per Share - Schedule_2

Earnings Per Share - Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share (Details) - shares	3 Months Ended	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2022
Earnings Per Share [Abstract]
Shares for stock-based compensation	160,198	80,099

Receivables - Schedule of Recei

Receivables - Schedule of Receivables (Details) - USD ($) $ in Millions	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020
Receivables [Abstract]
Trade receivables - U.S. government	$ 230.9		$ 140.7
Trade receivables - other	944.5		797.5
Finance receivables	6.5		8
Other receivables	49.2		40
Receivables, gross	1,231.1		986.2
Less allowance for doubtful accounts	(6.4)	$ (5.9)	(4.2)	$ (4.7)	$ (5.7)	$ (5.8)
Receivables, net	$ 1,224.7		$ 982

Receivables - Schedule of Class

Receivables - Schedule of Classification of Receivables in the Condensed Consolidated Balance Sheets (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Classification of receivables
Current receivables	$ 1,216.4	$ 973.4
Long-term receivables	8.3	8.6
Receivables, net	$ 1,224.7	$ 982

Receivables - Schedule of Allow

Receivables - Schedule of Allowance for Doubtful Accounts (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Accounts Notes And Loans Receivable [Line Items]
Allowance at beginning of period	$ 5.9	$ 5.7	$ 4.2	$ 5.8
Provision for doubtful accounts, net of recoveries	0.5	(1)	2.2	(1.1)
Allowance at end of period	6.4	4.7	6.4	4.7
Finance Receivables
Accounts Notes And Loans Receivable [Line Items]
Allowance at beginning of period	0.4	1.1	0.5	1.4
Provision for doubtful accounts, net of recoveries	(0.1)	(0.2)	(0.2)	(0.5)
Allowance at end of period	0.3	0.9	0.3	0.9
Trade and Other Receivables
Accounts Notes And Loans Receivable [Line Items]
Allowance at beginning of period	5.5	4.6	3.7	4.4
Provision for doubtful accounts, net of recoveries	0.6	(0.8)	2.4	(0.6)
Allowance at end of period	$ 6.1	$ 3.8	$ 6.1	$ 3.8

Inventories - Schedule of Inven

Inventories - Schedule of Inventories (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Raw materials	$ 1,045.3	$ 984.4
Partially finished products	428	334
Finished products	291.6	239.7
Inventories at FIFO cost	1,764.9	1,558.1
Less: Excess of FIFO cost over LIFO cost	(180.6)	(175.4)
Inventory net	$ 1,584.3	$ 1,382.7

Property, Plant and Equipment -

Property, Plant and Equipment - Schedule of Property, Plant and Equipment (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	$ 1,602	$ 1,480.3
Less accumulated depreciation	(927.5)	(887.1)
Property, plant and equipment, net	674.5	593.2
Land and Land Improvements
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	73.2	72
Buildings
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	414.3	410.9
Machinery and Equipment
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	797.8	740.9
Software and Related Costs
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	199.2	201.3
Equipment on Operating Lease to Others
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	10.2	9.9
Construction in Progress
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	$ 107.3	$ 45.3

Property, Plant and Equipment_2

Property, Plant and Equipment - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Property Plant And Equipment [Line Items]
Depreciation expenses	$ 21.3	$ 20.7	$ 42	$ 42.2
Accelerated depreciation				$ 0.8
Equipment on Operating Lease to Others
Property Plant And Equipment [Line Items]
Equipment on operating lease, net	$ 9.2		$ 9.2		$ 8.9
Equipment on Operating Lease to Others | Minimum
Property Plant And Equipment [Line Items]
Estimated useful life (in years)			5 years
Equipment on Operating Lease to Others | Maximum
Property Plant And Equipment [Line Items]
Estimated useful life (in years)			10 years

Goodwill and Purchased Intang_3

Goodwill and Purchased Intangible Assets - Schedule of Changes in Goodwill (Details) $ in Millions	6 Months Ended
	Jun. 30, 2022 USD ($)
Changes in goodwill
Net goodwill at the beginning of the period	$ 1,049
Foreign currency translation	(14.9)
Acquisition	8.9
Net goodwill at the end of the period	1,043
Access Equipment
Changes in goodwill
Net goodwill at the beginning of the period	877.6
Foreign currency translation	(14.9)
Net goodwill at the end of the period	862.7
Defense
Changes in goodwill
Net goodwill at the beginning of the period	44.4
Net goodwill at the end of the period	44.4
Fire & Emergency
Changes in goodwill
Net goodwill at the beginning of the period	106.1
Acquisition	8.9
Net goodwill at the end of the period	115
Commercial
Changes in goodwill
Net goodwill at the beginning of the period	20.9
Net goodwill at the end of the period	$ 20.9

Goodwill and Purchased Intang_4

Goodwill and Purchased Intangible Assets - Goodwill Allocated to Reportable Segments (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Goodwill [Line Items]
Gross	$ 2,144.7	$ 2,150.7
Accumulated Impairment	(1,101.7)	(1,101.7)
Net	1,043	1,049
Access Equipment
Goodwill [Line Items]
Gross	1,794.8	1,809.7
Accumulated Impairment	(932.1)	(932.1)
Net	862.7	877.6
Defense
Goodwill [Line Items]
Gross	44.4	44.4
Net	44.4	44.4
Fire & Emergency
Goodwill [Line Items]
Gross	117	108.1
Accumulated Impairment	(2)	(2)
Net	115	106.1
Commercial
Goodwill [Line Items]
Gross	188.5	188.5
Accumulated Impairment	(167.6)	(167.6)
Net	$ 20.9	$ 20.9

Goodwill and Purchased Intang_5

Goodwill and Purchased Intangible Assets - Schedule of Purchased Intangible Assets (Details) - USD ($) $ in Millions		6 Months Ended	12 Months Ended
	Mar. 01, 2022	Jun. 30, 2022	Dec. 31, 2021
Acquired Finite Lived Intangible Assets [Line Items]
Weighted- Average Life (in years)		14 years 4 months 24 days	14 years 4 months 24 days
Gross		$ 763.5	$ 756.3
Accumulated Amortization		(714.9)	(709.4)
Net		48.6	46.9
Non-amortizable trade names		417	417.1
Intangible assets excluding goodwill, gross		1,180.5	1,173.4
Purchased intangible assets, net		$ 465.6	$ 464
Distribution network
Acquired Finite Lived Intangible Assets [Line Items]
Weighted- Average Life (in years)		39 years 2 months 12 days	39 years 2 months 12 days
Gross		$ 55.4	$ 55.4
Accumulated Amortization		(36.3)	(35.6)
Net		$ 19.1	$ 19.8
Technology-related
Acquired Finite Lived Intangible Assets [Line Items]
Weighted- Average Life (in years)	14 years 3 months 18 days	12 years	11 years 10 months 24 days
Gross		$ 108.3	$ 104.7
Accumulated Amortization		(104.1)	(104)
Net		$ 4.2	$ 0.7
Customer relationships
Acquired Finite Lived Intangible Assets [Line Items]
Weighted- Average Life (in years)		12 years 7 months 6 days	12 years 7 months 6 days
Gross		$ 572.5	$ 572.6
Accumulated Amortization		(554.2)	(551.3)
Net		$ 18.3	$ 21.3
Other
Acquired Finite Lived Intangible Assets [Line Items]
Weighted- Average Life (in years)		12 years	12 years 1 month 6 days
Gross		$ 23.5	$ 23.6
Accumulated Amortization		20.3	(18.5)
Net		$ 3.2	$ 5.1
Amortizable Intangible Assets Before Preliminary Acquisition
Acquired Finite Lived Intangible Assets [Line Items]
Weighted- Average Life (in years)		14 years 4 months 24 days
Gross		$ 759.7
Accumulated Amortization		(714.9)
Net		$ 44.8
Preliminary Acquisition Amortizable Intangible Assets
Acquired Finite Lived Intangible Assets [Line Items]
Weighted- Average Life (in years)		5 years
Gross		$ 3.8
Net		$ 3.8

Goodwill and Purchased Intang_6

Goodwill and Purchased Intangible Assets - Additional Information (Details) $ in Millions		6 Months Ended	12 Months Ended
	Mar. 01, 2022 USD ($) Patent	Jun. 30, 2022 USD ($)	Dec. 31, 2021
Acquired Finite Lived Intangible Assets [Line Items]
2022 (remaining six months)		$ 6
2023		6.5
2024		5.3
2025		5.2
2026		5.2
2027		$ 4.8
Weighted- Average Life (in years)		14 years 4 months 24 days	14 years 4 months 24 days
Patents
Acquired Finite Lived Intangible Assets [Line Items]
Number of patents acquired | Patent	2
Value of patents acquired	$ 3.7
Technology-related
Acquired Finite Lived Intangible Assets [Line Items]
Weighted- Average Life (in years)	14 years 3 months 18 days	12 years	11 years 10 months 24 days

Credit Agreements - Schedule of

Credit Agreements - Schedule of Debt Instruments (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Principal	$ 600	$ 825
Debt Issuance Costs, Net	(5.4)	(6)
Debt, Net	594.6	819
Other short-term debt	10
Senior Term Loan
Debt Instrument [Line Items]
Principal		225
Debt Issuance Costs, Net		(0.2)
Debt, Net		224.8
4.600% Senior Notes due May 2028
Debt Instrument [Line Items]
Principal	300	300
Debt Issuance Costs, Net	(2.3)	(2.5)
Debt, Net	297.7	297.5
3.100% Senior Notes due March 2030
Debt Instrument [Line Items]
Principal	300	300
Debt Issuance Costs, Net	(3.1)	(3.3)
Debt, Net	$ 296.9	$ 296.7

Credit Agreements - Schedule _2

Credit Agreements - Schedule of Debt Instruments (Parenthetical) (Details)	3 Months Ended	6 Months Ended
	Dec. 31, 2021	Jun. 30, 2022	Feb. 29, 2020	May 31, 2018
4.600% Senior Notes due May 2028
Debt Instrument [Line Items]
Debt instrument interest rate, stated percentage	4.60%	4.60%		4.60%
Maturity month and year	2028-05	2028-05
3.100% Senior Notes due March 2030
Debt Instrument [Line Items]
Debt instrument interest rate, stated percentage	3.10%	3.10%	3.10%
Maturity month and year	2030-03	2030-03

Credit Agreements - Additional

Credit Agreements - Additional Information (Details) ¥ in Millions			1 Months Ended	3 Months Ended	6 Months Ended
	Mar. 23, 2022 USD ($)	Feb. 29, 2020 USD ($)	May 31, 2018 USD ($)	Dec. 31, 2021 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2022 CNY (¥)	Mar. 31, 2022 CNY (¥)	Sep. 30, 2019 CNY (¥)
Debt Instrument [Line Items]
Debt extinguishment expense	$ 100,000
Debt issuance costs capitalized	2,500,000
Letters of credit outstanding					$ 11,600,000
Long term debt
Debt issued					10,400,000
Repayments of Debt					225,000,000
Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	$ 1,100,000,000
Maturity month and year	2027-03
Available borrowing capacity					$ 1,090,000,000
Letter of Credit
Debt Instrument [Line Items]
Letter of credit fees percentage on available borrowing capacity, low end of range (as a percent)					0.4375%	0.4375%
Letter of credit fees percentage on available borrowing capacity, high end of range (as a percent)					1.50%	1.50%
Senior Term Loan
Debt Instrument [Line Items]
Repayments Of Long Term Debt	$ 225,000,000
Senior Credit Agreement
Debt Instrument [Line Items]
Interest spread in basis points (as a percent)					112.50%	112.50%
Maximum leverage ratio					0.0375
Minimum interest coverage ratio					0.0425
Senior Credit Agreement | Minimum
Debt Instrument [Line Items]
Revolving credit facility, unused commitment fee rate (as a percent)					0.08%	0.08%
Senior Credit Agreement | Maximum
Debt Instrument [Line Items]
Revolving credit facility, unused commitment fee rate (as a percent)					0.225%	0.225%
Senior Credit Agreement | Federal Funds Rate
Debt Instrument [Line Items]
Interest spread in basis points (as a percent)					0.50%	0.50%
Senior Credit Agreement | Term SOFR
Debt Instrument [Line Items]
Interest spread in basis points (as a percent)					1%	1%
4.600% Senior Notes due May 2028
Debt Instrument [Line Items]
Maturity month and year				2028-05	2028-05	2028-05
Long term debt
Debt issued			$ 300,000,000
Debt instrument interest rate, stated percentage			4.60%	4.60%	4.60%
Maturity date			May 15, 2028
Debt instruments
Debt instrument, fair value				$ 338,000,000	$ 298,000,000
3.100% Senior Notes due March 2030
Debt Instrument [Line Items]
Maturity month and year				2030-03	2030-03	2030-03
Long term debt
Debt issued		$ 300,000,000
Debt instrument interest rate, stated percentage		3.10%		3.10%	3.10%
Maturity date		Mar. 01, 2030
Debt instruments
Debt instrument, fair value				$ 313,000,000	$ 261,000,000
100.0 Million Chinese Renminbi Uncommitted Line of Credit | Uncommitted Line of Credit
Debt Instrument [Line Items]
Available borrowing capacity | ¥							¥ 100
Short term debt
Line of credit outstanding					$ 1,900,000	¥ 12.6
Line of credit variable interest rate					3.60%
220.0 Million Chinese Renminbi Uncommitted Line of Credit | Uncommitted Line of Credit
Debt Instrument [Line Items]
Available borrowing capacity | ¥								¥ 220
Short term debt
Line of credit outstanding					$ 8,100,000	¥ 54
Line of credit variable interest rate					4.20%

Warranties - Additional Informa

Warranties - Additional Information (Details)	6 Months Ended
	Jun. 30, 2022
Minimum
Product Warranty Liability [Line Items]
Product warranty term	6 months
Maximum
Product Warranty Liability [Line Items]
Product warranty term	5 years

Warranties -Schedule of Changes

Warranties -Schedule of Changes in Assurance-type Warranty Liability (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Product Warranties Disclosures [Abstract]
Balance at beginning of period	$ 65.7	$ 64.6
Warranty provisions	24.9	21.9
Settlements made	(29.8)	(34.3)
Changes in liability for pre-existing warranties, net	0.3	17.5
Foreign currency translation	(0.3)	(0.1)
Acquisition	0.2	0.3
Balance at end of period	$ 61	$ 69.9

Guarantee Arrangements - Additi

Guarantee Arrangements - Additional Information (Details) $ in Millions	Jun. 30, 2022 USD ($)
Indirect Guarantee of Deferred Payment and Lease Payment Agreements
Guarantee Obligations [Line Items]
Aggregate indebtedness to customers under credit guarantees	$ 747.6
Estimated maximum loss exposure under contracts	133.7
Residual Value Guarantee
Guarantee Obligations [Line Items]
Estimated maximum loss exposure under contracts	11
Customer equipment value including a residual value guarantee	$ 93.9

Guarantee Arrangements - Schedu

Guarantee Arrangements - Schedule of Provision for Losses on Customer Guarantees (Details1) - Indirect Guarantee of Deferred Payment and Lease Payment Agreements - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Non-Contingent Portion
Guarantee Obligations [Line Items]
Balance at beginning of period	$ 10.1	$ 13.8	$ 12.1	$ 14.7
Provision for new credit guarantees	1	0.7	2	1.1
Changes for pre-existing guarantees, net	1.4	(0.2)	(1.1)	(0.6)
Amortization of previous guarantees	(0.3)	(0.4)	(0.8)	(1.3)
Foreign currency translation	(0.1)	(0.1)	(0.1)	(0.1)
Balance at end of period	12.1	13.8	12.1	13.8
Contingent Portion
Guarantee Obligations [Line Items]
Balance at beginning of period	9.7	6.9	4	6.9
Provision for new credit guarantees	0.5	0.4	1.1	0.7
Changes for pre-existing guarantees, net	(3.2)	(0.5)	1.8	(0.8)
Foreign currency translation	(0.3)		(0.2)
Balance at end of period	$ 6.7	$ 6.8	$ 6.7	$ 6.8

Contingencies, Significant Es_2

Contingencies, Significant Estimates and Concentrations - Additional Information (Details) - USD ($)	6 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Personal Injury Actions and Other
Loss Contingencies [Line Items]
Maximum self-insurance available per claim	$ 5,000,000
Reserve for loss contingencies	42,900,000	$ 45,100,000
Performance and Specialty Bonds
Loss Contingencies [Line Items]
Commitments and contingencies	1,690,000,000	1,240,000,000
Standby Letters of Credit
Loss Contingencies [Line Items]
Commitments and contingencies	$ 15,000,000	$ 22,100,000

Shareholders' Equity - Addition

Shareholders' Equity - Additional information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	May 03, 2022
Stockholders Equity Note [Abstract]
Number of shares of common stock authorized for buyback (in shares)					7,890,581
Remaining number of shares authorized to be repurchased (in shares)	11,550,677		11,550,677		4,109,419
Increased number of shares of common stock authorized for buyback					12,000,000
Treasury stock, shares, acquired (in shares)			1,508,467	107,138
Treasury stock, value, acquired, cost method	$ 70	$ 13	$ 155	$ 13

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) - Schedule of Changes in Accumulated Other Comprehensive Income (Loss) by Component (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance at beginning of period			$ 3,076.4
Total other comprehensive income (loss), net of tax	$ (29.1)	$ 9.1	(34.4)	$ (9.3)
Balance at end of period	2,877		2,877
Employee Pension and Postretirement Benefits, Net of Tax
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance at beginning of period	(25.2)	(93.5)	(25.6)	(94.7)
Amounts reclassified from accumulated other comprehensive income (loss)	0.4	1.1	0.8	2.3
Total other comprehensive income (loss), net of tax	0.4	1.1	0.8	2.3
Balance at end of period	(24.8)	(92.4)	(24.8)	(92.4)
Cumulative Translation Adjustments
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance at beginning of period	(111.7)	(90.3)	(105.2)	(70.3)
Other comprehensive income (loss) before reclassifications	(33.9)	7.7	(40.4)	(12.3)
Amounts reclassified from accumulated other comprehensive income (loss)	0.1
Total other comprehensive income (loss), net of tax	(33.9)	7.7	(40.4)	(12.3)
Balance at end of period	(145.6)	(82.6)	(145.6)	(82.6)
Derivative Instruments, Net of Tax
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance at beginning of period	3	(0.1)	2.2	(0.5)
Other comprehensive income (loss) before reclassifications	4.5	0.3	5.4	0.7
Amounts reclassified from accumulated other comprehensive income (loss)			(0.2)
Total other comprehensive income (loss), net of tax	4.4	0.3	5.2	0.7
Balance at end of period	7.4	0.2	7.4	0.2
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance at beginning of period	(133.9)	(183.9)	(128.6)	(165.5)
Other comprehensive income (loss) before reclassifications	(29.4)	8	(35)	(11.6)
Amounts reclassified from accumulated other comprehensive income (loss)	0.3	1.1	0.6	2.3
Total other comprehensive income (loss), net of tax	(29.1)	9.1	(34.4)	9.3
Balance at end of period	$ (163)	$ (174.8)	$ (163)	$ (174.8)

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Income (Loss) - Schedule of Reclassifications Out of Accumulated Other Comprehensive Income (Loss) on Condensed Consolidated Statements of Income (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Prior Service Costs
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Total before tax	$ 0.2	$ 0.2	$ 0.4	$ 0.4
Actuarial (Gains) Losses
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Total before tax	0.3	1.5	0.6	2.7
Employee Pension and Postretirement Benefits, Net of Tax
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Total before tax	0.5	1.7	1	3.1
Tax benefit	(0.1)	(0.6)	(0.2)	(0.8)
Net of tax	$ 0.4	$ 1.1	$ 0.8	$ 2.3

Fair Value Measurement - Schedu

Fair Value Measurement - Schedule of Fair Value of Financial Assets and Liabilities (Details) - USD ($) $ in Millions		Jun. 30, 2022	Dec. 31, 2021
Assets:
Investment in equity securities	[1]	$ 5.6	$ 14.2
Foreign currency exchange derivatives	[2]	11.4	3.7
Liabilities:
Foreign currency exchange derivatives	[2]	0.9	0.9
SERP Plan [Member]
Assets:
SERP plan assets	[3]	14.1	21.3
Level 1
Assets:
Investment in equity securities	[1]	5.6	14.2
Level 1 | SERP Plan [Member]
Assets:
SERP plan assets	[3]	14.1	21.3
Level 2
Assets:
Foreign currency exchange derivatives	[2]	11.4	3.7
Liabilities:
Foreign currency exchange derivatives	[2]	$ 0.9	$ 0.9
[1] Represents investments in equity securities for which quoted prices in active markets are available. The Company records changes in the fair value of investments in “Miscellaneous, net” in the Condensed Consolidated Statements of Income. Based on observable market transactions of forward currency prices. Represents investments held in a rabbi trust for the Company’s non-qualified supplemental executive retirement plan (SERP). The fair values of these investments are determined using a market approach. Investments include mutual funds for which quoted prices in active markets are available. The Company records changes in the fair value of investments in “Miscellaneous, net” in the Condensed Consolidated Statements of Income.

Business Segment Information -

Business Segment Information - Additional Information (Details)	6 Months Ended
	Jun. 30, 2022 Segment
Segment Reporting [Abstract]
Number of reportable segments of entity (in segments)	4

Business Segment Information _2

Business Segment Information - Schedule of Net Sales by Product Lines and Reportable Segments (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Segment Reporting Information [Line Items]
Revenues	$ 2,066	$ 2,208.8	$ 4,011.7	$ 4,097.8
Access Equipment
Segment Reporting Information [Line Items]
Revenues	977	923.1	1,860	1,659.7
Access Equipment | Aerial Work Platforms
Segment Reporting Information [Line Items]
Revenues	451.5	450.9	891.2	809.1
Access Equipment | Telehandlers
Segment Reporting Information [Line Items]
Revenues	309.8	233.5	539.5	408.7
Access Equipment | Other
Segment Reporting Information [Line Items]
Revenues	215.7	238.7	429.3	441.9
Defense
Segment Reporting Information [Line Items]
Revenues	538.9	709.9	1,074.1	1,324.2
Fire & Emergency
Segment Reporting Information [Line Items]
Revenues	275.7	298.4	562.2	607.1
Commercial
Segment Reporting Information [Line Items]
Revenues	274.4	277.4	515.4	506.2
Commercial | Concrete Mixers
Segment Reporting Information [Line Items]
Revenues	104.6	113.4	189.7	210.7
Commercial | Refuse Collection
Segment Reporting Information [Line Items]
Revenues	143.4	137.4	272.7	241.8
Commercial | Other
Segment Reporting Information [Line Items]
Revenues	26.4	26.6	53	53.7
Corporate and Intersegment Eliminations
Segment Reporting Information [Line Items]
Revenues				0.6
Operating Segments
Segment Reporting Information [Line Items]
Revenues	2,066		4,011.7
Operating Segments | Access Equipment
Segment Reporting Information [Line Items]
Revenues	977.1	924.3	1,860.2	1,662.5
Operating Segments | Access Equipment | Aerial Work Platforms
Segment Reporting Information [Line Items]
Revenues	451.5	450.9	891.2	809.1
Operating Segments | Access Equipment | Telehandlers
Segment Reporting Information [Line Items]
Revenues	309.8	233.5	539.5	408.7
Operating Segments | Access Equipment | Other
Segment Reporting Information [Line Items]
Revenues	215.8	239.9	429.5	444.7
Operating Segments | Defense
Segment Reporting Information [Line Items]
Revenues	539.3	710.4	1,074.9	1,325.1
Operating Segments | Fire & Emergency
Segment Reporting Information [Line Items]
Revenues	276.5	302.5	564.4	615
Operating Segments | Commercial
Segment Reporting Information [Line Items]
Revenues	275.3	278.1	516.7	508.1
Operating Segments | Commercial | Concrete Mixers
Segment Reporting Information [Line Items]
Revenues	104.6	113.4	189.7	210.7
Operating Segments | Commercial | Refuse Collection
Segment Reporting Information [Line Items]
Revenues	143.4	137.4	272.7	241.8
Operating Segments | Commercial | Other
Segment Reporting Information [Line Items]
Revenues	27.3	27.3	54.3	55.6
Operating Segments | Corporate and Intersegment Eliminations
Segment Reporting Information [Line Items]
Revenues	(2.2)		(4.5)
Corporate, Non-segment | Corporate and Intersegment Eliminations
Segment Reporting Information [Line Items]
Revenues		(6.5)		(12.9)
Intersegment Eliminations
Segment Reporting Information [Line Items]
Revenues	(2.2)	(6.5)	(4.5)	(12.9)
Intersegment Eliminations | Access Equipment
Segment Reporting Information [Line Items]
Revenues	0.1	1.2	0.2	2.8
Intersegment Eliminations | Access Equipment | Other
Segment Reporting Information [Line Items]
Revenues	0.1	1.2	0.2	2.8
Intersegment Eliminations | Defense
Segment Reporting Information [Line Items]
Revenues	0.4	0.5	0.8	0.9
Intersegment Eliminations | Fire & Emergency
Segment Reporting Information [Line Items]
Revenues	0.8	4.1	2.2	7.9
Intersegment Eliminations | Commercial
Segment Reporting Information [Line Items]
Revenues	0.9	0.7	1.3	1.9
Intersegment Eliminations | Commercial | Other
Segment Reporting Information [Line Items]
Revenues	0.9	0.7	1.3	1.9
Intersegment Eliminations | Corporate and Intersegment Eliminations
Segment Reporting Information [Line Items]
Revenues	$ (2.2)	$ (6.5)	$ (4.5)	$ (13.5)

Business Segment Information _3

Business Segment Information - Schedule of Income (Loss) from Continuing operations by Product Lines and Reportable Segments (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Operating income (loss):
Operating income (loss)		$ 69.4	$ 203.8	$ 98.7	$ 344.6
Interest expense, net of interest income		(11.9)	(11.7)	(23.5)	(22.9)
Miscellaneous other income (expense)		(15.1)	0.4	(14)	3.5
Income before income taxes and losses of unconsolidated affiliates		42.4	192.5	61.2	325.2
Operating Segments | Access Equipment
Operating income (loss):
Operating income (loss)	[1]	69.4	113	76.9	193.5
Operating Segments | Defense
Operating income (loss):
Operating income (loss)		2.1	59.8	21.5	95.3
Operating Segments | Fire & Emergency
Operating income (loss):
Operating income (loss)		22.8	44.5	45.2	91.9
Operating Segments | Commercial
Operating income (loss):
Operating income (loss)		15.1	29.6	29.4	48.4
Corporate, Non-segment
Operating income (loss):
Operating income (loss)		$ (40)	$ (43.1)	$ (74.3)	$ (84.5)
[1] Results for the three and six months ended June 30, 2021 include a $ 0.2 million charge and $ 1.4 million benefit for restructuring, respectively. The Company incurred additional charges of $ 1.1 million and $ 4.9 million of other costs related to restructuring plans in the three and six months ended June 30, 2021, respectively.

Business Segment Information _4

Business Segment Information - Schedule of Income (Loss) from Continuing Operations by Product Lines and Reportable Segments (Parenthetical) (Details) - Access Equipment - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2021
Segment Reporting Information [Line Items]
Restructuring costs	$ 0.2	$ (1.4)
Other costs related to restructuring plans	$ 1.1	$ 4.9

Business Segment Information _5

Business Segment Information - Schedule of Identifiable Assets by Business Segments and by Geographical Segments (Details) - USD ($) $ in Millions		Jun. 30, 2022	Dec. 31, 2021
Assets
Assets		$ 6,859.9	$ 6,721.8
Operating Segments
Assets
Assets		6,859.9	6,721.8
Operating Segments | Access Equipment
Assets
Assets		3,250	3,155.1
Operating Segments | Access Equipment | United States
Assets
Assets		2,460.5	2,311.8
Operating Segments | Access Equipment | Europe, Africa and Middle East
Assets
Assets		429.4	460.3
Operating Segments | Access Equipment | Rest of the World
Assets
Assets		360.1	383
Operating Segments | Defense
Assets
Assets		1,668.4	1,232.2
Operating Segments | Defense | United States
Assets
Assets		1,661.6	1,225
Operating Segments | Defense | Rest of the World
Assets
Assets		6.8	7.2
Operating Segments | Fire & Emergency
Assets
Assets		575.5	511.2
Operating Segments | Fire & Emergency | United States
Assets
Assets		551.7	511.2
Operating Segments | Fire & Emergency | Rest of the World
Assets
Assets		23.8
Operating Segments | Commercial
Assets
Assets		429.3	424.7
Operating Segments | Commercial | United States
Assets
Assets		380.6	379.6
Operating Segments | Commercial | Rest of the World
Assets
Assets		48.7	45.1
Corporate, Non-segment | United States
Assets
Assets	[1]	$ 936.7	$ 1,398.6
[1] Primarily includes cash and short-term investments and the Company’s global headquarters.

Business Segment Information _6

Business Segment Information - Schedule of Net Sales by Geographical Segments (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues	$ 2,066	$ 2,208.8	$ 4,011.7	$ 4,097.8
North America
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues	1,896	1,958.8	3,665.6	3,583.8
Europe, Africa and Middle East
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues	91.1	111.4	184	271
Rest of the World
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues	78.9	138.6	162.1	243
Operating Segments
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues	2,066		4,011.7
Intersegment Eliminations
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues	(2.2)	(6.5)	(4.5)	(12.9)
Intersegment Eliminations | North America
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues	(2.2)	(6.5)	(4.5)	(12.9)
Access Equipment
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues	977	923.1	1,860	1,659.7
Access Equipment | Operating Segments
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues	977.1	924.3	1,860.2	1,662.5
Access Equipment | Operating Segments | North America
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues	841.8	719.9	1,574.7	1,275.3
Access Equipment | Operating Segments | Europe, Africa and Middle East
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues	67.1	75.7	148.1	158.5
Access Equipment | Operating Segments | Rest of the World
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues	68.2	128.7	137.4	228.7
Access Equipment | Intersegment Eliminations
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues	0.1	1.2	0.2	2.8
Defense
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues	538.9	709.9	1,074.1	1,324.2
Defense | Operating Segments
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues	539.3	710.4	1,074.9	1,325.1
Defense | Operating Segments | North America
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues	521.5	682.4	1,045.8	1,233.6
Defense | Operating Segments | Europe, Africa and Middle East
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues	17.4	25.4	28.4	88.4
Defense | Operating Segments | Rest of the World
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues	0.4	2.6	0.7	3.1
Defense | Intersegment Eliminations
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues	0.4	0.5	0.8	0.9
Fire & Emergency
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues	275.7	298.4	562.2	607.1
Fire & Emergency | Operating Segments
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues	276.5	302.5	564.4	615
Fire & Emergency | Operating Segments | North America
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues	264.4	287.4	539.8	584.2
Fire & Emergency | Operating Segments | Europe, Africa and Middle East
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues	5.9	9.8	5.9	23.1
Fire & Emergency | Operating Segments | Rest of the World
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues	6.2	5.3	18.7	7.7
Fire & Emergency | Intersegment Eliminations
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues	0.8	4.1	2.2	7.9
Commercial
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues	274.4	277.4	515.4	506.2
Commercial | Operating Segments
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues	275.3	278.1	516.7	508.1
Commercial | Operating Segments | North America
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues	270.5	275.6	509.8	503.6
Commercial | Operating Segments | Europe, Africa and Middle East
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues	0.7	0.5	1.6	1
Commercial | Operating Segments | Rest of the World
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues	4.1	2	5.3	3.5
Commercial | Intersegment Eliminations
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues	$ 0.9	$ 0.7	$ 1.3	$ 1.9