Terex (TEX) 10-Q 28 Oct 22 2022 Q3 Quarterly report Financial data

Cover

Cover - shares shares in Millions	9 Months Ended
	Sep. 30, 2022	Oct. 25, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2022
Document Transition Report	false
Entity File Number	1-10702
Entity Registrant Name	Terex Corporation
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	34-1531521
Entity Address, Address Line One	45 Glover Ave, 4th Floor
Entity Address, City or Town	Norwalk
Entity Address, State or Province	CT
Entity Address, Postal Zip Code	06850
City Area Code	203
Local Phone Number	222-7170
Title of 12(b) Security	Common Stock ($0.01 par value)
Trading Symbol	TEX
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		67.5
Entity Central Index Key	0000097216
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Amendment Flag	false

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (LOSS) - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Statement [Abstract]
Net sales	$ 1,120.5	$ 993.8	$ 3,200.1	$ 2,896.7
Cost of goods sold	(883.4)	(815.3)	(2,564.3)	(2,311.2)
Gross profit	237.1	178.5	635.8	585.5
Selling, general and administrative expenses	(116.3)	(104.3)	(336.6)	(327.3)
Income (loss) from operations	120.8	74.2	299.2	258.2
Other income (expense)
Interest income	1.1	0.6	2.1	2.9
Interest expense	(13.5)	(12.3)	(35.8)	(40.6)
Loss on early extinguishment of debt	0	0	(0.1)	(27.7)
Other income (expense) – net	(1)	(1.1)	(4.6)	2.7
Income (loss) from continuing operations before income taxes	107.4	61.4	260.8	195.5
(Provision for) benefit from income taxes	(25.6)	(13.9)	(52.6)	(36)
Income (loss) from continuing operations	81.8	47.5	208.2	159.5
Gain (loss) on disposition of discontinued operations – net of tax	0	0.6	(0.4)	2.6
Net income (loss)	$ 81.8	$ 48.1	$ 207.8	$ 162.1
Basic earnings (loss) per share:
Income (loss) from continuing operations	$ 1.21	$ 0.68	$ 3.03	$ 2.29
Gain (loss) on disposition of discontinued operations – net of tax		0.01	(0.01)	0.04
Net income (loss)	1.21	0.69	3.02	2.33
Diluted earnings (loss) per share:
Income (loss) from continuing operations	1.20	0.67	2.99	2.25
Gain (loss) on disposition of discontinued operations – net of tax		0.01		0.04
Net income (loss)	$ 1.20	$ 0.68	$ 2.99	$ 2.29
Weighted average number of shares outstanding in per share calculation
Basic (in shares)	67.8	69.8	68.8	69.7
Diluted (in shares)	68.4	70.9	69.6	70.8
Comprehensive income (loss)	$ 1.4	$ 18.8	$ 35	$ 141.2

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEET - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Current assets
Cash and cash equivalents	$ 231.7	$ 266.9
Trade receivables (net of allowance of $9.0 and $9.7 at September 30, 2022 and December 31, 2021, respectively)	531.1	507.7
Inventories	981.2	813.5
Prepaid and other current assets	123	179.7
Total current assets	1,867	1,767.8
Non-current assets
Property, plant and equipment – net	450.4	429.6
Goodwill	273.1	280.1
Intangible assets – net	17.5	13.4
Other assets	368.5	372.6
Total assets	2,976.5	2,863.5
Current liabilities
Current portion of long-term debt	1.9	5.6
Trade accounts payable	589.4	537.7
Accrued freight	47.3	36.2
Other current liabilities	314.1	330.4
Total current liabilities	952.7	909.9
Non-current liabilities
Long-term debt, less current portion	824.6	668.5
Other non-current liabilities	164.5	175.5
Total liabilities	1,941.8	1,753.9
Commitments and contingencies
Stockholders’ equity
Common stock, $0.01 par value – authorized 300.0 shares; issued 84.0 and 83.4 shares at September 30, 2022 and December 31, 2021, respectively	0.9	0.9
Additional paid-in capital	874	860
Retained earnings	1,117.4	936.9
Accumulated other comprehensive income (loss)	(401.3)	(228.5)
Less cost of shares of common stock in treasury – 17.1 and 14.2 shares at September 30, 2022 and December 31, 2021, respectively	(556.3)	(459.7)
Total stockholders’ equity	1,034.7	1,109.6
Total liabilities and stockholders’ equity	$ 2,976.5	$ 2,863.5

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEET (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Current assets
Trade receivables, allowance (in dollars)	$ 9	$ 9.7
Stockholders’ equity
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common authorized (in shares)	300,000,000	300,000,000
Common issued (in shares)	84,000,000	83,400,000
Treasury stock (in shares)	17,100,000	14,200,000

CONSOLIDATED STATEMENT OF CHANG

CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) shares in Millions, $ in Millions	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Common Stock in Treasury
Total stockholders' equity, Beginning of Period at Dec. 31, 2020	$ 921.5	$ 0.9	$ 837.9	$ 750.3	$ (208.4)	$ (459.2)
Shares oustanding, Beginning of Period (in shares) at Dec. 31, 2020		68.6
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	40.1			40.1
Other Comprehensive Income (Loss) – net of tax	(7.1)				(7.1)
Issuance of Common Stock related to compensation (in shares)		0.5
Issuance of Common Stock related to compensation	11.4		11.4
Compensation under Stock-based Plans - net (in shares)		0.1
Compensation under Stock-based Plans - net	(11)		(13.8)			2.8
Dividends	(8.3)		0.2	(8.5)
Acquisition of Treasury Stock	(0.3)					(0.3)
Other	(0.2)			(0.2)
Shares outstanding, End of Period (in shares) at Mar. 31, 2021		69.2
Total stockholders' equity, End of Period at Mar. 31, 2021	946.1	$ 0.9	835.7	781.7	(215.5)	(456.7)
Total stockholders' equity, Beginning of Period at Dec. 31, 2020	921.5	$ 0.9	837.9	750.3	(208.4)	(459.2)
Shares oustanding, Beginning of Period (in shares) at Dec. 31, 2020		68.6
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	162.1
Shares outstanding, End of Period (in shares) at Sep. 30, 2021		69.2
Total stockholders' equity, End of Period at Sep. 30, 2021	1,050.7	$ 0.9	850.8	886.6	(229.3)	(458.3)
Total stockholders' equity, Beginning of Period at Mar. 31, 2021	946.1	$ 0.9	835.7	781.7	(215.5)	(456.7)
Shares oustanding, Beginning of Period (in shares) at Mar. 31, 2021		69.2
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	73.9			73.9
Other Comprehensive Income (Loss) – net of tax	15.5				15.5
Issuance of Common Stock related to compensation	0.4		0.4
Compensation under Stock-based Plans - net	7.9		7.8			0.1
Dividends	(8.4)		0.1	(8.5)
Acquisition of Treasury Stock	(1.4)					(1.4)
Other	(0.1)			(0.1)
Shares outstanding, End of Period (in shares) at Jun. 30, 2021		69.2
Total stockholders' equity, End of Period at Jun. 30, 2021	1,033.9	$ 0.9	844	847	(200)	(458)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	48.1			48.1
Other Comprehensive Income (Loss) – net of tax	(29.3)				(29.3)
Issuance of Common Stock related to compensation	0.2		0.2
Compensation under Stock-based Plans - net	6.5		6.5			0
Dividends	(8.4)		0.1	(8.5)
Acquisition of Treasury Stock	(0.2)					(0.2)
Other	(0.1)					(0.1)
Shares outstanding, End of Period (in shares) at Sep. 30, 2021		69.2
Total stockholders' equity, End of Period at Sep. 30, 2021	1,050.7	$ 0.9	850.8	886.6	(229.3)	(458.3)
Total stockholders' equity, Beginning of Period at Dec. 31, 2021	1,109.6	$ 0.9	860	936.9	(228.5)	(459.7)
Shares oustanding, Beginning of Period (in shares) at Dec. 31, 2021		69.2
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	51.9			51.9
Other Comprehensive Income (Loss) – net of tax	(20)				(20)
Issuance of Common Stock related to compensation (in shares)		0.5
Issuance of Common Stock related to compensation	16.3		16.3
Compensation under Stock-based Plans - net (in shares)		0.1
Compensation under Stock-based Plans - net	(14.8)		(15.8)			1
Dividends	(9.1)		0.2	(9.3)
Acquisition of Treasury Stock	(19.8)					(19.8)
Acquisition of Treasury Stock (in shares)		(0.5)
Shares outstanding, End of Period (in shares) at Mar. 31, 2022		69.3
Total stockholders' equity, End of Period at Mar. 31, 2022	1,114.1	$ 0.9	860.7	979.5	(248.5)	(478.5)
Total stockholders' equity, Beginning of Period at Dec. 31, 2021	1,109.6	$ 0.9	860	936.9	(228.5)	(459.7)
Shares oustanding, Beginning of Period (in shares) at Dec. 31, 2021		69.2
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	207.8
Shares outstanding, End of Period (in shares) at Sep. 30, 2022		66.9
Total stockholders' equity, End of Period at Sep. 30, 2022	1,034.7	$ 0.9	874	1,117.4	(401.3)	(556.3)
Total stockholders' equity, Beginning of Period at Mar. 31, 2022	1,114.1	$ 0.9	860.7	979.5	(248.5)	(478.5)
Shares oustanding, Beginning of Period (in shares) at Mar. 31, 2022		69.3
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	74.1			74.1
Other Comprehensive Income (Loss) – net of tax	(72.4)				(72.4)
Issuance of Common Stock related to compensation (in shares)		0.1
Issuance of Common Stock related to compensation	1.8		1.8
Compensation under Stock-based Plans - net (in shares)		(0.1)
Compensation under Stock-based Plans - net	4.4		4.3			0.1
Dividends	(8.9)		0.2	(9.1)
Acquisition of Treasury Stock	(64.3)					(64.3)
Acquisition of Treasury Stock (in shares)		(1.9)
Other	0.1			0.1
Shares outstanding, End of Period (in shares) at Jun. 30, 2022		67.4
Total stockholders' equity, End of Period at Jun. 30, 2022	1,048.9	$ 0.9	867	1,044.6	(320.9)	(542.7)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	81.8			81.8
Other Comprehensive Income (Loss) – net of tax	(80.4)				(80.4)
Issuance of Common Stock related to compensation	0.4		0.4
Compensation under Stock-based Plans - net	6.4		6.4			0
Dividends	(8.8)		0.2	(9)
Acquisition of Treasury Stock	(13.6)					(13.6)
Acquisition of Treasury Stock (in shares)		(0.5)
Shares outstanding, End of Period (in shares) at Sep. 30, 2022		66.9
Total stockholders' equity, End of Period at Sep. 30, 2022	$ 1,034.7	$ 0.9	$ 874	$ 1,117.4	$ (401.3)	$ (556.3)

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Operating Activities
Net income (loss)	$ 207.8	$ 162.1
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	35.1	37.9
Loss on early extinguishment of debt	0.1	27.7
Stock-based compensation expense	22.9	24.1
Inventory and other non-cash charges	19.4	15.6
Changes in operating assets and liabilities (net of effects of acquisitions and divestitures):
Trade receivables	(56.4)	(143.5)
Inventories	(234)	(159.9)
Trade accounts payable	91.5	185.8
Other assets and liabilities	44.8	171.1
Foreign exchange and other operating activities, net	(27)	3.2
Net cash provided by (used in) operating activities	104.2	324.1
Investing Activities
Capital expenditures	(78.8)	(31.7)
Acquisitions, net of cash acquired, and investments	(50.1)	(42.9)
Other investing activities, net	4.5	1.2
Net cash provided by (used in) investing activities	(124.4)	(73.4)
Financing Activities
Repayments of debt	(103.8)	(882.5)
Proceeds from issuance of debt	254.3	600.1
Payment of debt extinguishment costs	0	(16.9)
Share repurchases	(96.6)	(1.7)
Dividends paid	(26.8)	(25.1)
Other financing activities, net	(13.8)	(22.6)
Net cash provided by (used in) financing activities	13.3	(348.7)
Effect of Exchange Rate Changes on Cash and Cash Equivalents	(28.3)	(13.9)
Net Increase (Decrease) in Cash and Cash Equivalents	(35.2)	(111.9)
Cash and Cash Equivalents at Beginning of Period	266.9	670.1
Cash and Cash Equivalents at End of Period	$ 231.7	$ 558.2

BASIS OF PRESENTATION

BASIS OF PRESENTATION	9 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION Basis of Presentation and Principles of Consolidation. The accompanying unaudited Condensed Consolidated Financial Statements of Terex Corporation and subsidiaries as of September 30, 2022 and for the three and nine months ended September 30, 2022 and 2021 have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all information and footnotes required by U.S. GAAP to be included in full-year financial statements. The accompanying Condensed Consolidated Balance Sheet as of December 31, 2021 has been derived from audited consolidated financial statements as of that date, but does not include all disclosures required by U.S. GAAP. For further information, refer to the consolidated financial statements and footnotes thereto included in the Company’s Annual Report on Form 10-K for year ended December 31, 2021. The Condensed Consolidated Financial Statements include accounts of Terex Corporation, its majority-owned subsidiaries and other controlled subsidiaries (“Terex” or the “Company”). The Company consolidates all majority-owned and controlled subsidiaries, applies equity method of accounting for investments in which the Company is able to exercise significant influence and applies the cost method for investments which do not have readily determinable fair values. All intercompany balances, transactions and profits have been eliminated. Certain prior period amounts have been reclassified to conform with the 2022 presentation. In the opinion of management, adjustments considered necessary for the fair statement of these interim financial statements have been made. Except as otherwise disclosed, all such adjustments consist only of those of a normal recurring nature. Operating results for the three and nine months ended September 30, 2022 are not necessarily indicative of results that may be expected for the year ending December 31, 2022. Cash and cash equivalents include $3.4 million and $3.7 million at September 30, 2022 and December 31, 2021, respectively, which were not immediately available for use. These consist primarily of cash balances held in escrow to secure various obligations of the Company . Recently Issued Accounting Standards to be Implemented. In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting, which provides optional expedients and exceptions for applying U.S. GAAP to contracts, hedging relationships and other transactions affected by reference rate reform if certain criteria are met to ease an entity’s financial reporting burden as the market transitions from London Interbank Offered Rate (“LIBOR”) and other interbank offered rates to alternative reference rates. The FASB further issued ASU 2021-01 in January 2021 to clarify the scope of Topic 848. The guidance was effective upon issuance and may be applied through December 31, 2022. Adoption is not expected to have a material effect on the Company’s consolidated financial statements. Accounts Receivable and Allowance for Doubtful Accounts. Trade accounts receivable are recorded at invoiced amount and do not bear interest. Allowance for doubtful accounts is the Company’s estimate of current expected credit losses on its existing accounts receivable and determined based on historical customer assessments, current financial conditions, and reasonable and supportable forecasts. Account balances are charged off against the allowance when the Company determines the receivable will not be recovered. There can be no assurance that the Company’s estimate of accounts receivable collection will be indicative of future results. The following table summarizes changes in the consolidated allowance for doubtful accounts (in millions): Balance as of December 31, 2021 $ 9.7 Provision for credit losses 0.8 Other (1) (1.5) Balance as of September 30, 2022 $ 9.0 (1) Includes utilization of established reserves, net of recoveries and the impact of foreign exchange rate changes. Guarantees. The Company issues guarantees to financial institutions related to financing of equipment purchases by customers. The expectation of losses or non-performance is evaluated based on consideration of historical customer assessments, current financial conditions, reasonable and supportable forecasts, equipment collateral value and other factors. Reserves are recorded for expected loss over the contractual period of risk exposure. See Note L – “Litigation and Contingencies” for additional information regarding guarantees issued to financial institutions. Accrued Warranties . The Company records accruals for potential warranty claims based on its claim experience. The Company’s products are typically sold with a standard warranty covering defects that arise during a fixed period. Each business provides a warranty specific to products it offers. The specific warranty offered by a business is a function of customer expectations and competitive forces. Warranty length is generally a fixed period of time, a fixed number of operating hours or both. A liability for estimated warranty claims is accrued at the time of sale. The current portion of the product warranty liability is included in Other current liabilities and the non-current portion is included in Other non-current liabilities in the Company’s Condensed Consolidated Balance Sheet. The liability is established using historical warranty claims experience for each product sold. Historical claims experience may be adjusted for known design improvements or for the impact of unusual product quality issues. Assumptions are updated for known events that may affect the potential warranty liability. The following table summarizes changes in the consolidated product warranty liability (in millions): Balance as of December 31, 2021 $ 44.1 Accruals for warranties issued during the period 29.5 Changes in estimates (2.0) Settlements during the period (27.5) Foreign exchange effect/other (2.8) Balance as of September 30, 2022 $ 41.3 Fair Value Measurements. Assets and liabilities measured at fair value on a recurring basis under the provisions of Accounting Standards Codification (“ASC”) 820, “Fair Value Measurement and Disclosure” (“ASC 820”) include commodity swaps, cross currency swaps and foreign exchange contracts discussed in Note I – “Derivative Financial Instruments” and debt discussed in Note J – “Long-Term Obligations”. These instruments are valued using observable market data for similar assets and liabilities or the present value of future cash payments and receipts. ASC 820 establishes a fair value hierarchy for those instruments measured at fair value that distinguishes between assumptions based on market data (observable inputs) and the Company’s assumptions (unobservable inputs). The hierarchy consists of three levels: Level 1 – Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; Level 2 – Quoted prices in markets that are not active, or inputs which are observable, either directly or indirectly, for substantially the full term of the asset or liability; and Level 3 – Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e. supported by little or no market activity). Determining which category an asset or liability falls within this hierarchy requires judgment. The Company evaluates its hierarchy disclosures each quarter.

BUSINESS SEGMENT INFORMATION

BUSINESS SEGMENT INFORMATION	9 Months Ended
	Sep. 30, 2022
Segment Reporting [Abstract]
BUSINESS SEGMENT INFORMATION	BUSINESS SEGMENT INFORMATION Terex is a global manufacturer of materials processing machinery and aerial work platforms. The Company designs, builds and supports products used in construction, maintenance, manufacturing, energy, recycling, minerals and materials management applications. Certain Terex products and solutions enable customers to reduce their environmental impact including electric and hybrid offerings that deliver quiet and emission-free performance, products that support renewable energy, and products that aid in the recovery of useful materials from various types of waste. The Company’s products are manufactured in North America, Europe, Australia and Asia and sold worldwide. Terex engages with customers through all stages of the product life cycle, from initial specification and financing to parts and service support. The Company identifies its operating segments according to how business activities are managed and evaluated, and has identified three operating segments: Materials Processing (“MP”), Aerials and Utilities. As Aerials and Utilities operating segments share similar economic characteristics, these operating segments are aggregated into one operating segment, Aerial Work Platforms (“AWP”). The Company operates in two reportable segments: (i) MP and (ii) AWP. MP designs, manufactures, services and markets materials processing and specialty equipment, including crushers, washing systems, screens, trommels, apron feeders, material handlers, pick and carry cranes, rough terrain cranes, tower cranes, wood processing, biomass and recycling equipment, concrete mixer trucks and concrete pavers, conveyors, and their related components and replacement parts. Customers use these products in construction, infrastructure and recycling projects, in various quarrying and mining applications, as well as in landscaping and biomass production industries, material handling applications, maintenance applications to lift equipment or material, moving materials and equipment on rugged or uneven terrain, lifting construction material and placing material at point of use. AWP designs, manufactures, services and markets aerial work platform equipment, utility equipment and telehandlers as well as their related components and replacement parts. Customers use these products to construct and maintain industrial, commercial, institutional and residential buildings and facilities, for construction and maintenance of utility and telecommunication lines, tree trimming, certain construction and foundation drilling applications, and for other commercial operations, as well as in a wide range of infrastructure projects. The Company assists customers in their rental, leasing and acquisition of its products through Terex Financial Services (“TFS”). TFS uses its equipment financing experience to facilitate financial products and services to assist customers in the acquisition of the Company’s equipment. TFS is included in Corporate and Other. Corporate and Other also includes eliminations among the two reportable segments, as well as general and corporate items. Business segment information is presented below (in millions): Three Months Ended Nine Months Ended 2022 2021 2022 2021 Net sales MP $ 457.9 $ 418.7 $ 1,391.3 $ 1,237.7 AWP 662.6 572.5 1,811.8 1,644.4 Corporate and Other / Eliminations — 2.6 (3.0) 14.6 Total $ 1,120.5 $ 993.8 $ 3,200.1 $ 2,896.7 Income (loss) from operations MP $ 66.8 $ 57.1 $ 210.8 $ 178.3 AWP 63.5 34.9 142.2 126.7 Corporate and Other / Eliminations (9.5) (17.8) (53.8) (46.8) Total $ 120.8 $ 74.2 $ 299.2 $ 258.2 September 30, December 31, Identifiable assets MP $ 1,687.2 $ 1,648.0 AWP (1) 2,023.8 1,870.8 Corporate and Other / Eliminations (734.5) (655.3) Total $ 2,976.5 $ 2,863.5 (1) Increase primarily due to higher inventory and fixed assets. Sales between segments are generally priced to recover costs plus a reasonable markup for profit, which is eliminated in consolidation. Geographic net sales information is presented below (in millions): Three Months Ended September 30, 2022 Three Months Ended September 30, 2021 MP AWP Corporate and Other / Eliminations Total MP AWP Corporate and Other / Eliminations Total Net sales by region North America $ 189.9 $ 444.8 $ 7.4 $ 642.1 $ 159.8 $ 377.5 $ 8.3 $ 545.6 Western Europe 137.1 98.4 0.1 235.6 117.9 81.8 0.2 199.9 Asia-Pacific 95.0 65.9 0.5 161.4 95.5 80.5 0.5 176.5 Rest of World (1) 35.9 53.5 (8.0) 81.4 45.5 32.7 (6.4) 71.8 Total (2) $ 457.9 $ 662.6 $ — $ 1,120.5 $ 418.7 $ 572.5 $ 2.6 $ 993.8 (1) Includes intercompany sales and eliminations. (2) Total sales include $568.6 million and $490.3 million for the three months ended September 30, 2022 and 2021, respectively, attributable to the U.S., the Company’s country of domicile. Nine Months Ended September 30, 2022 Nine Months Ended September 30, 2021 MP AWP Corporate and Other / Eliminations Total MP AWP Corporate and Other / Eliminations Total Net sales by region North America $ 561.7 $ 1,226.8 $ 10.8 $ 1,799.3 $ 488.9 $ 1,066.7 $ 23.7 $ 1,579.3 Western Europe 431.8 293.0 0.3 725.1 379.8 265.8 0.4 646.0 Asia-Pacific 282.9 161.5 0.5 444.9 258.0 241.6 0.9 500.5 Rest of World (1) 114.9 130.5 (14.6) 230.8 111.0 70.3 (10.4) 170.9 Total (2) $ 1,391.3 $ 1,811.8 $ (3.0) $ 3,200.1 $ 1,237.7 $ 1,644.4 $ 14.6 $ 2,896.7 (1) Includes intercompany sales and eliminations. (2) Total sales include $1.6 billion and $1.4 billion for the nine months ended September 30, 2022 and 2021, respectively, attributable to the U.S., the Company’s country of domicile. The Company attributes sales to unaffiliated customers in different geographical areas based on the location of the customer. Product type net sales information is presented below (in millions): Three Months Ended September 30, 2022 Three Months Ended September 30, 2021 MP AWP Corporate and Other / Eliminations Total MP AWP Corporate and Other / Eliminations Total Net sales by product type Aerial Work Platforms $ — $ 505.5 $ 0.3 $ 505.8 $ — $ 413.7 $ 0.2 $ 413.9 Materials Processing Equipment 277.3 — — 277.3 245.5 — — 245.5 Specialty Equipment 179.7 — 0.3 180.0 173.1 — 0.3 173.4 Utility Equipment — 116.7 — 116.7 — 94.0 — 94.0 Other (1) 0.9 40.4 (0.6) 40.7 0.1 64.8 2.1 67.0 Total $ 457.9 $ 662.6 $ — $ 1,120.5 $ 418.7 $ 572.5 $ 2.6 $ 993.8 (1) Includes other product types, intercompany sales and eliminations. Nine Months Ended September 30, 2022 Nine Months Ended September 30, 2021 MP AWP Corporate and Other / Eliminations Total MP AWP Corporate and Other / Eliminations Total Net sales by product type Aerial Work Platforms $ — $ 1,344.5 $ 1.1 $ 1,345.6 $ — $ 1,218.9 $ 0.8 $ 1,219.7 Materials Processing Equipment 826.6 — 0.5 827.1 735.4 — — 735.4 Specialty Equipment 562.4 — 1.0 563.4 501.7 — 1.8 503.5 Utility Equipment — 343.3 — 343.3 — 281.7 0.6 282.3 Other (1) 2.3 124.0 (5.6) 120.7 0.6 143.8 11.4 155.8 Total $ 1,391.3 $ 1,811.8 $ (3.0) $ 3,200.1 $ 1,237.7 $ 1,644.4 $ 14.6 $ 2,896.7

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2022
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES During the three months ended September 30, 2022, the Company recognized income tax expense of $25.6 million on income of $107.4 million, an effective tax rate of 23.8%, as compared to income tax expense of $13.9 million on income of $61.4 million, an effective tax rate of 22.6%, for the three months ended September 30, 2021. The higher effective tax rate for the three months ended September 30, 2022 when compared with the three months ended September 30, 2021 is primarily due to higher tax related to the geographic distribution of income partially offset by lower U.S. tax on foreign income. During the nine months ended September 30, 2022, the Company recognized income tax expense of $52.6 million on income of $260.8 million, an effective tax rate of 20.2%, as compared to income tax expense of $36.0 million on income of $195.5 million, an effective tax rate of 18.4%, for the nine months ended September 30, 2021. The higher effective tax rate for the nine months ended September 30, 2022 when compared with the nine months ended September 30, 2021 is primarily due to higher tax related to the geographic distribution of income and lower favorable discrete benefits partially offset by lower U.S. tax on foreign income in the current year period. As of September 30, 2022, the Company determined that it was appropriate to retain its valuation allowance on its German interest expense deferred tax asset. However, it is reasonably possible that, in the near term, continuing improvement in operating performance and other positive evidence could change the Company’s assessment of the realizability of the German interest expense deferred tax asset resulting in the reversal of all, or part of, the related valuation allowance.

ACQUISITIONS

ACQUISITIONS	9 Months Ended
	Sep. 30, 2022
Discontinued Operations and Disposal Groups [Abstract]
ACQUISITIONS	ACQUISITIONS Acquisitions On April 22, 2022, the Company acquired a 100% ownership interest in Steelweld Fabrications Limited (“Steelweld”), a manufacturer of heavy fabrications based in Northern Ireland, to facilitate manufacturing of certain MP products. Total cash consideration was approximately $6 million. On July 29, 2022, the Company acquired a 100% ownership interest in ProAll International Mfg. Inc. and ProAll UK Limited and related assets (“ProAll”), a manufacturer of volumetric mixers based in Canada, to expand the Company’s concrete product offering. Total consideration, including estimated contingent consideration from earnout provisions, was approximately $39 million. These transactions were recorded as business combinations using the acquisition method which requires measurement of identifiable assets acquired and liabilities assumed at their estimated fair values as of the acquisition date. Goodwill was calculated as the excess of the aggregate of the fair value of the consideration transferred over the fair value of the net assets recognized. The results of operations associated with these businesses are consolidated within the MP segment in the Condensed Consolidated Financial Statements from the respective dates of acquisition. See Note H – “Goodwill and Intangible Assets” for additional information regarding goodwill recognized as a result of these acquisitions.

EARNINGS PER SHARE

EARNINGS PER SHARE	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE (in millions, except per share data) Three Months Ended Nine Months Ended 2022 2021 2022 2021 Income (loss) from continuing operations $ 81.8 $ 47.5 $ 208.2 $ 159.5 Gain (loss) on disposition of discontinued operations – net of tax — 0.6 (0.4) 2.6 Net income (loss) $ 81.8 $ 48.1 $ 207.8 $ 162.1 Basic shares: Weighted average shares outstanding 67.8 69.8 68.8 69.7 Earnings (loss) per share – basic: Income (loss) from continuing operations $ 1.21 $ 0.68 $ 3.03 $ 2.29 Gain (loss) on disposition of discontinued operations – net of tax — 0.01 (0.01) 0.04 Net income (loss) $ 1.21 $ 0.69 $ 3.02 $ 2.33 Diluted shares: Weighted average shares outstanding – basic 67.8 69.8 68.8 69.7 Effect of dilutive securities: Restricted stock awards 0.6 1.1 0.8 1.1 Diluted weighted average shares outstanding 68.4 70.9 69.6 70.8 Earnings (loss) per share – diluted: Income (loss) from continuing operations $ 1.20 $ 0.67 $ 2.99 $ 2.25 Gain (loss) on disposition of discontinued operations – net of tax — 0.01 — 0.04 Net income (loss) $ 1.20 $ 0.68 $ 2.99 $ 2.29 Non-vested restricted stock awards and restricted stock units (“Restricted Stock Awards”) granted by the Company are treated as potential common shares outstanding in computing diluted earnings per share using the treasury stock method. Weighted average Restricted Stock Awards of approximately 0.5 million and 0.1 million were outstanding during the three months ended September 30, 2022 and 2021, respectively, but were not included in the computation of diluted shares as the effect would be anti-dilutive or performance targets were not expected to be achieved for awards contingent upon performance. Weighted average Restricted Stock Awards of approximately 0.6 million and 0.1 million were outstanding during the nine months ended September 30, 2022 and 2021, respectively, but were not included in the computation of diluted shares as the effect would be anti-dilutive or performance targets were not expected to be achieved for awards contingent upon performance.

INVENTORIES

INVENTORIES	9 Months Ended
	Sep. 30, 2022
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES Inventories consist of the following (in millions): September 30, December 31, Finished equipment $ 335.0 $ 283.0 Replacement parts 147.9 157.3 Work-in-process 161.4 105.5 Raw materials and supplies 336.9 267.7 Inventories $ 981.2 $ 813.5 Work-in-process inventory includes approximately $63 million and $10 million of substantially completed inventory awaiting installation of final components at September 30, 2022 and December 31, 2021, respectively. Reserves for lower of cost or net realizable value and excess and obsolete inventory were $55.6 million and $57.8 million at September 30, 2022 and December 31, 2021, respectively.

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT	9 Months Ended
	Sep. 30, 2022
Property, Plant and Equipment [Abstract]
PROPERTY, PLANT AND EQUIPMENT	PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment – net consist of the following (in millions): September 30, December 31, Property $ 55.3 $ 53.1 Plant 268.2 284.4 Equipment 396.1 402.4 Leasehold improvements 45.2 50.0 Construction in progress 71.2 26.9 Property, plant and equipment – gross 836.0 816.8 Less: Accumulated depreciation (385.6) (387.2) Property, plant and equipment – net $ 450.4 $ 429.6

GOODWILL AND INTANGIBLE ASSETS,

GOODWILL AND INTANGIBLE ASSETS, NET	9 Months Ended
	Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND INTANGIBLE ASSETS, NET	GOODWILL AND INTANGIBLE ASSETS An analysis of changes in the Company’s goodwill by business segment is as follows (in millions): MP AWP Total Balance at December 31, 2021, gross $ 202.2 $ 139.7 $ 341.9 Accumulated impairment (23.2) (38.6) (61.8) Balance at December 31, 2021, net 179.0 101.1 280.1 Acquisitions 21.9 — 21.9 Foreign exchange effect and other (25.7) (3.2) (28.9) Balance at September 30, 2022, gross 198.4 136.5 334.9 Accumulated impairment (23.2) (38.6) (61.8) Balance at September 30, 2022, net $ 175.2 $ 97.9 $ 273.1 During the nine months ended September 30, 2022, the Company recognized goodwill of $3.5 million in connection with the Steelweld acquisition and $18.4 million in connection with the ProAll acquisition. The goodwill associated with these transactions was attributable primarily to the assembled workforce and expected synergies from the business combinations. The goodwill was assigned to the MP segment and is not expected to be deductible for income tax purposes. See Note D – “Acquisitions” for additional information regarding the acquisitions. Intangible assets, net were comprised of the following (in millions): September 30, 2022 December 31, 2021 Weighted Average Life Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Definite-lived intangible assets: Technology 7 $ 8.6 $ (8.5) $ 0.1 $ 9.8 $ (9.7) $ 0.1 Customer Relationships 20 33.9 (25.9) 8.0 31.9 (25.4) 6.5 Land Use Rights 80 4.0 (0.8) 3.2 4.4 (0.8) 3.6 Other 7 29.3 (23.1) 6.2 26.3 (23.1) 3.2 Total definite-lived intangible assets $ 75.8 $ (58.3) $ 17.5 $ 72.4 $ (59.0) $ 13.4 During the nine months ended September 30, 2022, the Company recognized customer relationships of $0.6 million with an estimated useful life of three years in connection with the Steelweld acquisition and customer relationships of $3.2 million with an estimate useful life of nine years and trademarks of $3.7 million with an estimated useful life of ten years in connection with the ProAll acquisition. See Note D – “Acquisitions” for additional information regarding the acquisitions. Three Months Ended Nine Months Ended (in millions) 2022 2021 2022 2021 Aggregate Amortization Expense $ 0.7 $ 0.7 $ 1.9 $ 1.6 Estimated aggregate intangible asset amortization expense for each of the next five years is as follows (in millions): 2022 $ 2.7 2023 2.6 2024 2.4 2025 2.2 2026 2.0

DERIVATIVE FINANCIAL INSTRUMENT

DERIVATIVE FINANCIAL INSTRUMENTS	9 Months Ended
	Sep. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE FINANCIAL INSTRUMENTS	DERIVATIVE FINANCIAL INSTRUMENTS The Company operates internationally, with manufacturing and sales facilities in various locations around the world. In the normal course of business, the Company uses derivatives to manage commodity, currency and interest rate exposures. For a derivative to qualify for hedge accounting treatment at inception and throughout the hedge period, the Company formally documents the nature and relationships between hedging instruments and hedged items, as well as its risk-management objectives and strategies for undertaking various hedge transactions, and methods of assessing hedge effectiveness. Additionally, for hedges of forecasted transactions, significant characteristics and expected terms of a forecasted transaction must be specifically identified, and it must be probable that each forecasted transaction will occur. If it is deemed probable the forecasted transaction will not occur, then the gain or loss would be recognized in current earnings. Financial instruments qualifying for hedge accounting must maintain a specified level of effectiveness between the hedging instrument and the item being hedged. The Company does not engage in trading or other speculative use of financial instruments. The Company records all derivative contracts at fair value on a recurring basis. Commodity Swaps Derivatives designated as cash flow hedging instruments include commodity swaps with outstanding notional value of $18.6 million and $22.5 million at September 30, 2022 and December 31, 2021, respectively. Commodity swaps outstanding at September 30, 2022 mature on or before August 31, 2024. The Company uses commodity swaps to mitigate price risk for hot rolled coil steel. Fair value of commodity swaps are based on observable market data for similar assets and liabilities. Changes in the fair value of commodity swaps are deferred in Accumulated other comprehensive income (loss) (“AOCI”). Gains or losses on commodity swaps are reclassified to Cost of goods sold (“COGS”) in the Condensed Consolidated Statement of Comprehensive Income (Loss) when the hedged transaction affects earnings. Cross Currency Swaps Derivatives designated as net investment hedging instruments include cross currency swaps with outstanding notional value of $29.4 million and $68.2 million at September 30, 2022 and December 31, 2021, respectively. The Company uses these cross currency swaps to mitigate its exposure to changes in foreign currency exchange rates related to a net investment in a Euro-denominated functional currency subsidiary. Fair values of cross currency swaps are based on the present value of future cash payments and receipts. Changes in the fair value of cross currency swaps are deferred in AOCI. Gains or losses on cross currency swaps are reclassified to Selling, general and administrative expenses in the Condensed Consolidated Statement of Comprehensive Income (Loss) when the net investment is liquidated. Foreign Exchange Contracts The Company enters into foreign exchange contracts to manage variability of future cash flows associated with changing currency exchange rates. Foreign currency exchange contracts, whether designated or not designated as cash flow hedges, are used to mitigate exposure to changes in foreign currency exchange rates on recognized assets and liabilities. Fair values of these contracts are derived using quoted forward foreign exchange prices to interpolate values of outstanding trades at the reporting date based on their maturities. Foreign exchange contracts outstanding at September 30, 2022 mature on or before July 2023. The Company had $8.6 million and $19.4 million notional value of foreign exchange contracts outstanding that were designated as cash flow hedging instruments at September 30, 2022 and December 31, 2021, respectively. For effective hedging instruments, changes in the fair value of foreign exchange contracts are deferred in AOCI until the underlying hedged transactions settle. Gains or losses on foreign exchange contracts are reclassified to COGS in the Condensed Consolidated Statement of Comprehensive Income (Loss). The Company had $241.6 million and $139.7 million notional value of foreign exchange contracts outstanding that were not designated as cash flow hedging instruments at September 30, 2022 and December 31, 2021, respectively. The majority of gains and losses recognized from foreign exchange contracts not designated as hedging instruments are offset by changes in the underlying exposures the contracts are intended to mitigate, resulting in no material net impact on earnings. Changes in the fair value of these derivative financial instruments are recognized as gains or losses in COGS and Other income (expense) – net in the Condensed Consolidated Statement of Comprehensive Income (Loss). Interest Rate Caps In October 2021, the Company terminated all outstanding interest rate caps. The Company used interest rate caps to mitigate its exposure to changes in interest rates related to variable rate debt. Fair value of interest rate caps were based on the present value of future cash payments and receipts. Changes in the fair value of interest rate caps were deferred in AOCI. Gains or losses on interest rate caps were reclassified to Interest expense in the Condensed Consolidated Statement of Comprehensive Income (Loss) when the underlying hedged transactions occur. The following table provides the location and fair value amounts of derivative instruments designated and not designated as hedging instruments that are reported in the Condensed Consolidated Balance Sheet (in millions): September 30, December 31, Instrument (1) Balance Sheet Account Derivatives designated as hedges Derivatives not designated as hedges Derivatives designated as hedges Derivatives not designated as hedges Foreign exchange contracts Other current assets $ — $ 4.4 $ (0.1) $ 0.7 Cross currency swaps - net investment hedge Other current assets 0.4 — — — Commodity swaps Other current assets — — 4.3 — Cross currency swaps - net investment hedge Other non-current assets 0.6 — — — Foreign exchange contracts Other current liabilities (0.3) (2.2) — — Cross currency swaps - net investment hedge Other current liabilities — — (0.5) — Commodity swaps Other current liabilities (2.1) — (1.1) — Cross currency swaps - net investment hedge Other non-current liabilities — — (2.4) — Commodity swaps Other non-current liabilities (0.5) — — — Net derivative asset (liability) $ (1.9) $ 2.2 $ 0.2 $ 0.7 (1) Categorized as Level 2 under the ASC 820 Fair Value Hierarchy. The following tables provide the effect of derivative instruments that are designated as hedges in AOCI (in millions): Gain (Loss) Recognized on Derivatives in OCI, net of tax Gain (Loss) Reclassified from AOCI into Income (Loss) Instrument Three Months Ended Nine Months Ended Income Statement Account Three Months Ended Nine Months Ended Foreign exchange contracts $ (0.2) $ (0.2) Cost of goods sold $ — $ 0.1 Commodity swaps (4.0) (10.9) Cost of goods sold (0.4) 6.9 Cross currency swaps - net investment hedge 2.4 6.1 Selling, general and administrative expenses — — Total $ (1.8) $ (5.0) Total $ (0.4) $ 7.0 Gain (Loss) Recognized on Derivatives in OCI, net of tax Gain (Loss) Reclassified from AOCI into Income (Loss) Instrument Three Months Ended Nine Months Ended Income Statement Account Three Months Ended Nine Months Ended Foreign exchange contracts $ — $ — Cost of goods sold $ — $ 0.1 Commodity swaps (5.8) 9.1 Cost of goods sold 6.9 8.3 Cross currency swaps - net investment hedge 1.8 4.0 Selling, general and administrative expenses — — Interest rate caps 0.1 2.7 Interest expense (0.3) (0.9) Total $ (3.9) $ 15.8 Total $ 6.6 $ 7.5 The following tables provide the effect of derivative instruments that are designated as hedges in the Condensed Consolidated Statement of Comprehensive Income (Loss) (in millions): Classification and amount of Gain (Loss) Recognized in Income (Loss) Cost of goods sold Interest expense Three Months Ended Nine Months Ended Three Months Ended Nine Months Ended Income Statement Accounts in which effects of cash flow hedges are recorded $ (883.4) $ (2,564.3) $ (13.5) $ (35.8) Gain (loss) reclassified from AOCI into Income (loss): Foreign exchange contracts — 0.1 — — Commodity swaps (0.4) 6.9 — — Amount excluded from effectiveness testing recognized in Income (loss) based on amortization approach: Cross currency swaps - net investment hedge — — — 0.3 Total $ (0.4) $ 7.0 $ — $ 0.3 Classification and amount of Gain (Loss) Recognized in Income (Loss) Cost of goods sold Interest expense Three Months Ended Nine Months Ended September 30, 2021 Three Months Ended Nine Months Ended Income Statement Accounts in which effects of cash flow hedges are recorded $ (815.3) $ (2,311.2) $ (12.3) $ (40.6) Gain (loss) reclassified from AOCI into Income (loss): Foreign exchange contracts — 0.1 — — Commodity swaps 6.9 8.3 — — Interest rate caps — — (0.3) (0.9) Amount excluded from effectiveness testing recognized in Income (loss) based on amortization approach: Cross currency swaps - net investment hedge — — 0.2 0.5 Total $ 6.9 $ 8.4 $ (0.1) $ (0.4) Derivatives not designated as hedges are used to offset foreign exchange gains or losses resulting from the underlying exposures of foreign currency denominated assets and liabilities. The following table provides the effect of non-designated derivatives in the Condensed Consolidated Statement of Comprehensive Income (Loss) (in millions): Gain (Loss) Recognized in Income (Loss) Three Months Ended Nine Months Ended Instrument Income Statement Account 2022 2021 2022 2021 Foreign exchange contracts Cost of goods sold $ (3.1) $ (0.6) $ (2.2) $ (0.6) Foreign exchange contracts Other income (expense) – net 2.3 (0.1) 1.3 (0.3) Total $ (0.8) $ (0.7) $ (0.9) $ (0.9) In the Condensed Consolidated Statement of Comprehensive Income (Loss), the Company records hedging activity related to commodity swaps, cross currency swaps, foreign exchange contracts and interest rate caps in the accounts for which the hedged items are recorded. On the Condensed Consolidated Statement of Cash Flows, the Company presents cash flows from hedging activities in the same manner as it records the underlying item being hedged. Counterparties to the Company’s derivative financial instruments are major financial institutions and commodity trading companies with credit ratings of investment grade or better and no collateral is required. There are no significant risk concentrations. Management continues to monitor counterparty risk and believes the risk of incurring losses on derivative contracts related to credit risk is unlikely and any losses would be immaterial. See Note M - “Stockholders’ Equity” for unrealized net gains (losses), net of tax, included in AOCI. Within unrealized net gains (losses) included in AOCI as of September 30, 2022, it is estimated that approximately $2 million of losses are expected to be reclassified into earnings in the next twelve months.

LONG-TERM OBLIGATIONS

LONG-TERM OBLIGATIONS	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
LONG-TERM OBLIGATIONS	LONG-TERM OBLIGATIONS Credit Agreement On January 31, 2017, the Company entered into a credit agreement with the lenders and issuing banks party thereto and Credit Suisse AG, Cayman Islands Branch (“CSAG”), as administrative agent and collateral agent, to provide the Company with a multi-currency revolving line of credit and senior secured term loans. This was subsequently amended to include (i) a $600 million revolving line of credit (the “Revolver”) and (ii) senior secured term loans totaling $600 million with a maturity date of January 31, 2024 (the “Term Loans”). On April 1, 2021, the Company entered into an amendment and restatement of the credit agreement (as amended and restated, the “Credit Agreement”) which included the following principal changes to the original credit agreement: (i) extension of the term of the Revolver to expire on April 1, 2026, which maturity will spring forward to November 1, 2023 if the principal outstanding under the $400 million senior secured term loan (the “Original Term Loan”) is not repaid or its maturity date is not extended, (ii) reinstatement of financial covenants that were waived in 2020, (iii) decrease in the interest rate on the drawn Revolver by 25 basis points and (iv) certain other technical changes, including additional language regarding the potential cessation of LIBOR as a benchmark rate. On March 7, 2019, the Company entered into an Incremental Assumption Agreement and Amendment No. 3 (“Amendment No. 3”) to its credit agreement. Amendment No. 3 provided the Company with an additional term loan (the “2019 Term Loan”) in the amount of $200 million. The Company recorded a loss on early extinguishment of debt related to the amendment and restatement of the Credit Agreement of $2.4 million in the second quarter of 2021. During the first quarter of 2021, the Company prepaid the 2019 Term Loan prior to its maturity date to reduce the Company’s outstanding debt and lower its leverage. The Company recorded a loss on early extinguishment of debt related to prepayment of $2.1 million for accelerated amortization of debt acquisition costs and original issue discount. The 2019 Term Loan bore interest at a rate of LIBOR plus 2.75% with a 0.75% LIBOR floor. The Original Term Loan bears interest at a rate of LIBOR plus 2.00% with a 0.75% LIBOR floor. During the second quarter of 2022 and 2021, the Company prepaid $23.0 million and $83.0 million, respectively, of the amount outstanding on the Original Term Loan prior to its maturity date to reduce the Company’s outstanding debt. During the second quarter of 2022 and 2021, the Company recorded a loss on early extinguishment of debt related to prepayment of $0.1 million and $0.7 million, respectively, for accelerated amortization of debt acquisition costs and original issue discount. Unlimited incremental commitments may be extended at the option of the existing or new lenders and can be in the form of revolving credit commitments, term loan commitments, or a combination of both, with incremental amounts in excess of $300 million as long as the Company satisfies the maximum permitted level of senior secured leverage as defined in the Credit Agreement. The Credit Agreement requires the Company to comply with a number of covenants which limit, in certain circumstances, the Company’s ability to take a variety of actions, including but not limited to: incur indebtedness; create or maintain liens on its property or assets; make investments, loans and advances; repurchase shares of its common stock; engage in acquisitions, mergers, consolidations and asset sales; redeem debt; and pay dividends and distributions. If the Company’s borrowings under the Revolver are greater than 30% of the total revolving credit commitments, the Credit Agreement requires the Company to comply with the following financial tests: (i) minimum required level of the interest coverage ratio of 2.5 to 1.0 and (ii) maximum permitted level of the senior secured leverage ratio of 2.75 to 1.0. The Credit Agreement also contains customary default provisions. The Company was in compliance with all covenants contained in the Credit Agreement as of September 30, 2022. As of September 30, 2022 and December 31, 2021, the Company had $54.9 million and $77.8 million, net of discount, respectively, in Term Loans outstanding under the Credit Agreement. The weighted average interest rate on the Term Loans at September 30, 2022 and December 31, 2021 was 4.67% and 2.75%, respectively. The Company had $173.7 million of revolving credit amounts outstanding as of September 30, 2022 and no revolving credit amounts outstanding as of December 31, 2021. The weighted average interest rate on the revolving credit amounts at September 30, 2022 was 4.01%. The Company obtains letters of credit that generally serve as collateral for certain liabilities included in the Condensed Consolidated Balance Sheet and guaranteeing the Company’s performance under contracts. Letters of credit can be issued under two facilities provided in the Credit Agreement and via bilateral arrangements outside the Credit Agreement. The Credit Agreement incorporates secured facilities for issuance of letters of credit up to $400 million (the “$400 Million Facility”). Letters of credit issued under the $400 Million Facility decrease availability under the Revolver. The Credit Agreement also permits the Company to have additional secured facilities for the issuance of letters of credit up to $300 million (the “$300 Million Facility”). Letters of credit issued under the $300 Million Facility do not decrease availability under the Revolver. The Company also has bilateral arrangements to issue letters of credit with various other financial institutions (the “Bilateral Arrangements”). The Bilateral Arrangements are not secured under the Credit Agreement and do not decrease availability under the Revolver. Letters of credit outstanding (in millions): September 30, 2022 December 31, 2021 $400 Million Facility $ — $ — $300 Million Facility 68.0 62.8 Bilateral Arrangements 46.3 45.0 Total $ 114.3 $ 107.8 Furthermore, the Company and certain of its subsidiaries agreed to take certain actions to secure borrowings under the Credit Agreement. As a result, Terex and certain of its subsidiaries entered into a Guarantee and Collateral Agreement with CSAG, as collateral agent for the lenders, granting security and guarantees to the lenders for amounts borrowed under the Credit Agreement. Pursuant to the Guarantee and Collateral Agreement, Terex is required to (a) pledge as collateral the capital stock of the Company’s material domestic subsidiaries and 65% of the capital stock of certain of the Company’s material foreign subsidiaries and (b) provide a first priority security interest in substantially all of the Company’s domestic assets. 5-5/8% Senior Notes On January 31, 2017, the Company sold and issued $600.0 million aggregate principal amount of Senior Notes Due 2025 (“5-5/8% Notes”) at par in a private offering. The 5-5/8% Notes were jointly and severally guaranteed by certain of the Company’s domestic subsidiaries. On March 15, 2021, the Company delivered a notice for the conditional redemption of all of its outstanding 5-5/8% Notes. On April 5, 2021, the Company redeemed the 5-5/8% Notes in full for $622.9 million, including redemption premiums of $16.9 million and accrued but unpaid interest of $6.0 million. The Company recorded a loss on early extinguishment of debt related to the redemption of the 5-5/8% Notes of $22.5 million in the second quarter of 2021. 5% Senior Notes In Apri1 2021, the Company sold and issued $600.0 million aggregate principal amount of Senior Notes Due 2029 (“5% Notes”) at par in a private offering. The proceeds from the 5% Notes, together with cash on hand, was used: (i) to fund redemption and discharge of the 5-5/8% Notes and (ii) to pay related premiums, fees, discounts and expenses. The 5% Notes are jointly and severally guaranteed by certain of the Company’s domestic subsidiaries. Fair Value of Debt The Company estimates the fair values of its debt set forth below as of September 30, 2022, as follows (in millions, except for quotes): Book Value Quote Fair Value 5% Notes $ 600.0 0.84000 $ 504.0 Original Term Loan (net of discount) $ 54.9 0.99500 $ 54.6 The fair value of debt reported in the table above is based on adjusted price quotations on the debt instruments in an active market. The Company believes that the carrying value of its other borrowings, including amounts outstanding, if any, for the revolving credit line under the Credit Agreement, approximate fair market value based on maturities for debt of similar terms. Fair values of debt reported in the table above are categorized under Level 2 of the ASC 820 hierarchy. See Note A – “Basis of Presentation” for an explanation of ASC 820 hierarchy.

RETIREMENT PLANS AND OTHER BENE

RETIREMENT PLANS AND OTHER BENEFITS	9 Months Ended
	Sep. 30, 2022
Retirement Benefits [Abstract]
RETIREMENT PLANS AND OTHER BENEFITS	RETIREMENT PLANS AND OTHER BENEFITS The Company maintains defined benefit plans in France, Germany, India, Switzerland and the United Kingdom for some of its subsidiaries, as well as a nonqualified Supplemental Executive Retirement Plan in the U.S. (“U.S. SERP”). In Italy and Mexico, there are mandatory termination indemnity plans providing a benefit that is payable upon termination of employment in substantially all cases of termination. The Company has several non-pension post-retirement benefit programs, including health and life insurance benefits to certain former salaried and hourly employees. Information regarding the Company’s plans, including the U.S. SERP, is as follows (in millions): Three Months Ended Nine Months Ended 2022 2021 2022 2021 U.S. Pension Non-U.S. Pension Other U.S. Pension Non-U.S. Pension Other U.S. Pension Non-U.S. Pension Other U.S. Pension Non-U.S. Pension Other Components of net periodic cost: Service cost $ — $ 0.2 $ — $ — $ 0.2 $ — $ — $ 0.6 $ — $ — $ 0.7 $ — Interest cost 0.3 0.5 0.1 0.2 0.6 0.1 0.9 1.9 0.1 0.8 1.8 0.1 Expected return on plan assets — (1.1) — — (1.3) — — (3.8) — — (4.2) — Amortization of actuarial (gain) loss 0.1 0.2 — — 0.6 — 0.2 0.9 — 0.2 1.8 — Net periodic cost $ 0.4 $ (0.2) $ 0.1 $ 0.2 $ 0.1 $ 0.1 $ 1.1 $ (0.4) $ 0.1 $ 1.0 $ 0.1 $ 0.1 Components of Net periodic cost other than the Service cost component are included in Other income (expense) - net in the Condensed Consolidated Statement of Comprehensive Income (Loss). The Service cost component is included in the same line item or items as other compensation costs arising from services rendered by pertinent employees during the period.

LITIGATION AND CONTINGENCIES

LITIGATION AND CONTINGENCIES	9 Months Ended
	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
LITIGATION AND CONTINGENCIES	LITIGATION AND CONTINGENCIES General The Company is involved in various legal proceedings, including product liability, general liability, workers’ compensation liability, employment, commercial and intellectual property litigation, which have arisen in the normal course of operations. The Company is insured for product liability, general liability, workers’ compensation, employer’s liability, property damage and other insurable risks required by law or contract, with retained liability or deductibles. The Company records and maintains an estimated liability in the amount of management’s estimate of the Company’s aggregate exposure for such retained liabilities and deductibles. For such retained liabilities and deductibles, the Company determines its exposure based on probable loss estimations, which requires such losses to be both probable and the amount or range of probable loss to be estimable. The Company believes it has made appropriate and adequate reserves and accruals for its current contingencies and the likelihood of a material loss beyond amounts accrued is remote. The Company believes the outcome of such matters, individually and in aggregate, will not have a material adverse effect on its condensed consolidated financial statements. However, outcomes of lawsuits cannot be predicted and, if determined adversely, could ultimately result in the Company incurring significant liabilities which could have a material adverse effect on its results of operations. Terex Latin América Equipamentos Ltda ICMS Proceedings Terex Latin America Equipamentos Ltda (“TLA”) imports Terex products into Brazil through the state of Espirito Santo to its facility in Sao Paulo. For the 2004 through March 2009 period TLA used a third-party trading company, SAB, as an agent to process the importation of Terex products. TLA properly paid the Espirito Santo ICMS tax (Brazilian state value-added tax) to SAB for payment to Espirito Santo, which would produce an ICMS credit to be used against imposition of Sao Paolo ICMS tax. SAB went into bankruptcy and may not have actually remitted to Espirito Santo the ICMS tax amounts paid to it by TLA. The Brazilian state of Sao Paulo challenged the credit against Sao Paolo ICMS that TLA claimed and assessed unpaid ICMS tax, penalties and related interest in the amount of approximately BRL 107 million ($20 million). TLA challenged the claim of Sao Paulo and learned in October 2019 that the Sao Paulo claim has survived the administrative tribunal process. TLA anticipates that it will receive notice for an amount due from Sao Paulo and expects to protest the Sao Paulo claim in litigation. While the Company believes the position of the state of Sao Paulo is without merit and continues to vigorously oppose it, no assurance can be given as to the final resolution of the ICMS litigation or that TLA will not ultimately be required to pay ICMS and interest to the state of Sao Paulo. Other The Company is involved in various other legal proceedings which have arisen in the normal course of its operations. The Company has recorded provisions for estimated losses in circumstances where a loss is probable and the amount or range of possible amounts of the loss is estimable. Credit Guarantees The Company may assist customers in their rental, leasing and acquisition of its products by facilitating financing transactions directly between (i) end-user customers, distributors and rental companies and (ii) third-party financial institutions, providing recourse in certain circumstances. The current amount of the maximum liability is generally limited to our customer’s remaining payments due to the third-party financial institutions at the time of default; however, it cannot be reasonably estimated due to limited availability of the unique facts and circumstances of each arrangement, such as whether changes have been made to the structure of the contractual obligation between the funder and customer. For credit guarantees outstanding as of September 30, 2022 and December 31, 2021, the maximum exposure determined was $120.7 million and $143.5 million, respectively. Terms of these guarantees coincide with the financing arranged by the customer and generally do not exceed five years. The allowance for credit losses on credit guarantees was $7.3 million and $6.3 million at September 30, 2022 and December 31, 2021, respectively. There can be no assurance that 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.

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	9 Months Ended
	Sep. 30, 2022
Stockholders' Equity Note [Abstract]
STOCKHOLDERS' EQUITY	STOCKHOLDERS’ EQUITY Changes in Accumulated Other Comprehensive Income (Loss) The table below presents changes in AOCI by component for the three and nine months ended September 30, 2022 and 2021. All amounts are net of tax (in millions). Three Months Ended Three Months Ended CTA Derivative Hedging Adj. Debt & Equity Securities Adj. Pension Liability Adj. Total CTA Derivative Hedging Adj. Debt & Equity Securities Adj. Pension Liability Adj. Total Beginning balance $ (278.9) $ 0.8 $ (2.9) $ (39.9) $ (320.9) $ (156.6) $ 13.7 $ 0.6 $ (57.7) $ (200.0) Other comprehensive income (loss) before reclassifications (80.8) (2.1) (1.0) 2.9 (81.0) (27.1) 1.1 (0.2) 1.5 (24.7) Amounts reclassified from AOCI — 0.3 — 0.3 0.6 — (5.0) — 0.4 (4.6) Net other comprehensive income (loss) (80.8) (1.8) (1.0) 3.2 (80.4) (27.1) (3.9) (0.2) 1.9 (29.3) Ending balance $ (359.7) $ (1.0) $ (3.9) $ (36.7) $ (401.3) $ (183.7) $ 9.8 $ 0.4 $ (55.8) $ (229.3) Nine Months Ended September 30, 2022 Nine Months Ended September 30, 2021 CTA Derivative Hedging Adj. Debt & Equity Securities Adj. Pension Liability Adj. Total CTA Derivative Hedging Adj. Debt & Equity Securities Adj. Pension Liability Adj. Total Beginning balance $ (188.0) $ 4.0 $ — $ (44.5) $ (228.5) $ (145.2) $ (6.0) $ 1.2 $ (58.4) $ (208.4) Other comprehensive income (loss) before reclassifications (171.3) 0.5 (3.9) 6.8 (167.9) (38.5) 21.6 (0.8) 1.1 (16.6) Amounts reclassified from AOCI (0.4) (5.5) — 1.0 (4.9) — (5.8) — 1.5 (4.3) Net other comprehensive income (loss) (171.7) (5.0) (3.9) 7.8 (172.8) (38.5) 15.8 (0.8) 2.6 (20.9) Ending balance $ (359.7) $ (1.0) $ (3.9) $ (36.7) $ (401.3) $ (183.7) $ 9.8 $ 0.4 $ (55.8) $ (229.3) Stock-Based Compensation During the nine months ended September 30, 2022, the Company awarded 0.7 million shares of Restricted Stock Awards to its employees with a weighted average grant date fair value of $40.33 per share. Approximately 58% of these awards are time-based and vest ratably on each of the first three anniversary dates of the grants. Approximately 28% cliff vest at the end of a three-year period and are subject to performance targets that may or may not be met and for which the performance period has not yet been completed. Approximately 14% cliff vest and are based on performance targets containing a market condition determined over a three-year period. Fair value of Restricted Stock Awards is based on the market price at the date of grant approval except for awards based on a market condition. The Company used the Monte Carlo method to determine grant date fair value of $44.25 per share for awards with a market condition granted on March 17, 2022. The Monte Carlo method is a statistical simulation technique used to provide the grant date fair value of an award. The following table presents the weighted-average assumptions used in the valuation: Grant date March 17, 2022 Dividend yields 1.31 % Expected volatility 54.25 % Risk free interest rate 2.09 % Expected life (in years) 3 Share Repurchases In July 2018, Terex’s Board of Directors authorized the repurchase up to $300 million of the Company’s outstanding shares of common stock. The table below presents shares repurchased, inclusive of transactions executed but not settled, by the Company under this program. Nine Months Ended Total Number of Amount of Shares Repurchased (in millions) 2022 2,747,751 $92.9 2021 — $— Dividends The table below presents dividends declared by Terex’s Board of Directors and paid to the Company’s shareholders: Year First Quarter Second Quarter Third Quarter 2022 $ 0.13 $ 0.13 $ 0.13 2021 $ 0.12 $ 0.12 $ 0.12 In October 2022, Terex’s Board of Directors declared a dividend of $0.13 per share, which will be paid on December 19, 2022 to the Company’s shareholders of record as of November 10, 2022.

BASIS OF PRESENTATION (Policies

BASIS OF PRESENTATION (Policies)	9 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	The accompanying unaudited Condensed Consolidated Financial Statements of Terex Corporation and subsidiaries as of September 30, 2022 and for the three and nine months ended September 30, 2022 and 2021 have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all information and footnotes required by U.S. GAAP to be included in full-year financial statements. The accompanying Condensed Consolidated Balance Sheet as of December 31, 2021 has been derived from audited consolidated financial statements as of that date, but does not include all disclosures required by U.S. GAAP.
Principals of Consolidation	The Condensed Consolidated Financial Statements include accounts of Terex Corporation, its majority-owned subsidiaries and other controlled subsidiaries (“Terex” or the “Company”). The Company consolidates all majority-owned and controlled subsidiaries, applies equity method of accounting for investments in which the Company is able to exercise significant influence and applies the cost method for investments which do not have readily determinable fair values. All intercompany balances, transactions and profits have been eliminated.
Reclassification policy	Certain prior period amounts have been reclassified to conform with the 2022 presentation.
Recently Issued Accounting Standards	Recently Issued Accounting Standards to be Implemented. In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting, which provides optional expedients and exceptions for applying U.S. GAAP to contracts, hedging relationships and other transactions affected by reference rate reform if certain criteria are met to ease an entity’s financial reporting burden as the market transitions from London Interbank Offered Rate (“LIBOR”) and other interbank offered rates to alternative reference rates. The FASB further issued ASU 2021-01 in January 2021 to clarify the scope of Topic 848. The guidance was effective upon issuance and may be applied through December 31, 2022. Adoption is not expected to have a material effect on the Company’s consolidated financial statements.
Accounts Receivable and Allowance for Doubtful Accounts	Accounts Receivable and Allowance for Doubtful Accounts. Trade accounts receivable are recorded at invoiced amount and do not bear interest. Allowance for doubtful accounts is the Company’s estimate of current expected credit losses on its existing accounts receivable and determined based on historical customer assessments, current financial conditions, and reasonable and supportable forecasts. Account balances are charged off against the allowance when the Company determines the receivable will not be recovered. There can be no assurance that the Company’s estimate of accounts receivable collection will be indicative of future results.
Guarantees	Guarantees. The Company issues guarantees to financial institutions related to financing of equipment purchases by customers. The expectation of losses or non-performance is evaluated based on consideration of historical customer assessments, current financial conditions, reasonable and supportable forecasts, equipment collateral value and other factors. Reserves are recorded for expected loss over the contractual period of risk exposure. See Note L – “Litigation and Contingencies” for additional information regarding guarantees issued to financial institutions.
Accrued Warranties	Accrued Warranties . The Company records accruals for potential warranty claims based on its claim experience. The Company’s products are typically sold with a standard warranty covering defects that arise during a fixed period. Each business provides a warranty specific to products it offers. The specific warranty offered by a business is a function of customer expectations and competitive forces. Warranty length is generally a fixed period of time, a fixed number of operating hours or both. A liability for estimated warranty claims is accrued at the time of sale. The current portion of the product warranty liability is included in Other current liabilities and the non-current portion is included in Other non-current liabilities in the Company’s Condensed Consolidated Balance Sheet. The liability is established using historical warranty claims experience for each product sold. Historical claims experience may be adjusted for known design improvements or for the impact of unusual product quality issues. Assumptions are updated for known events that may affect the potential warranty liability.
Fair Value Measurements	Fair Value Measurements. Assets and liabilities measured at fair value on a recurring basis under the provisions of Accounting Standards Codification (“ASC”) 820, “Fair Value Measurement and Disclosure” (“ASC 820”) include commodity swaps, cross currency swaps and foreign exchange contracts discussed in Note I – “Derivative Financial Instruments” and debt discussed in Note J – “Long-Term Obligations”. These instruments are valued using observable market data for similar assets and liabilities or the present value of future cash payments and receipts. ASC 820 establishes a fair value hierarchy for those instruments measured at fair value that distinguishes between assumptions based on market data (observable inputs) and the Company’s assumptions (unobservable inputs). The hierarchy consists of three levels: Level 1 – Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; Level 2 – Quoted prices in markets that are not active, or inputs which are observable, either directly or indirectly, for substantially the full term of the asset or liability; and Level 3 – Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e. supported by little or no market activity). Determining which category an asset or liability falls within this hierarchy requires judgment. The Company evaluates its hierarchy disclosures each quarter.

BASIS OF PRESENTATION (Tables)

BASIS OF PRESENTATION (Tables)	9 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accounts Receivable, Allowance for Credit Loss	The following table summarizes changes in the consolidated allowance for doubtful accounts (in millions): Balance as of December 31, 2021 $ 9.7 Provision for credit losses 0.8 Other (1) (1.5) Balance as of September 30, 2022 $ 9.0
Schedule of Product Warranty Liability	The following table summarizes changes in the consolidated product warranty liability (in millions): Balance as of December 31, 2021 $ 44.1 Accruals for warranties issued during the period 29.5 Changes in estimates (2.0) Settlements during the period (27.5) Foreign exchange effect/other (2.8) Balance as of September 30, 2022 $ 41.3

BUSINESS SEGMENT INFORMATION (T

BUSINESS SEGMENT INFORMATION (Tables)	9 Months Ended
	Sep. 30, 2022
Segment Reporting [Abstract]
Schedule of business segment information	Business segment information is presented below (in millions): Three Months Ended Nine Months Ended 2022 2021 2022 2021 Net sales MP $ 457.9 $ 418.7 $ 1,391.3 $ 1,237.7 AWP 662.6 572.5 1,811.8 1,644.4 Corporate and Other / Eliminations — 2.6 (3.0) 14.6 Total $ 1,120.5 $ 993.8 $ 3,200.1 $ 2,896.7 Income (loss) from operations MP $ 66.8 $ 57.1 $ 210.8 $ 178.3 AWP 63.5 34.9 142.2 126.7 Corporate and Other / Eliminations (9.5) (17.8) (53.8) (46.8) Total $ 120.8 $ 74.2 $ 299.2 $ 258.2
Reconciliation of Operating Profit (Loss) from Segments to Consolidated	September 30, December 31, Identifiable assets MP $ 1,687.2 $ 1,648.0 AWP (1) 2,023.8 1,870.8 Corporate and Other / Eliminations (734.5) (655.3) Total $ 2,976.5 $ 2,863.5 (1) Increase primarily due to higher inventory and fixed assets.
Revenue from External Customers by Geographic Areas	Geographic net sales information is presented below (in millions): Three Months Ended September 30, 2022 Three Months Ended September 30, 2021 MP AWP Corporate and Other / Eliminations Total MP AWP Corporate and Other / Eliminations Total Net sales by region North America $ 189.9 $ 444.8 $ 7.4 $ 642.1 $ 159.8 $ 377.5 $ 8.3 $ 545.6 Western Europe 137.1 98.4 0.1 235.6 117.9 81.8 0.2 199.9 Asia-Pacific 95.0 65.9 0.5 161.4 95.5 80.5 0.5 176.5 Rest of World (1) 35.9 53.5 (8.0) 81.4 45.5 32.7 (6.4) 71.8 Total (2) $ 457.9 $ 662.6 $ — $ 1,120.5 $ 418.7 $ 572.5 $ 2.6 $ 993.8 (1) Includes intercompany sales and eliminations. (2) Total sales include $568.6 million and $490.3 million for the three months ended September 30, 2022 and 2021, respectively, attributable to the U.S., the Company’s country of domicile. Nine Months Ended September 30, 2022 Nine Months Ended September 30, 2021 MP AWP Corporate and Other / Eliminations Total MP AWP Corporate and Other / Eliminations Total Net sales by region North America $ 561.7 $ 1,226.8 $ 10.8 $ 1,799.3 $ 488.9 $ 1,066.7 $ 23.7 $ 1,579.3 Western Europe 431.8 293.0 0.3 725.1 379.8 265.8 0.4 646.0 Asia-Pacific 282.9 161.5 0.5 444.9 258.0 241.6 0.9 500.5 Rest of World (1) 114.9 130.5 (14.6) 230.8 111.0 70.3 (10.4) 170.9 Total (2) $ 1,391.3 $ 1,811.8 $ (3.0) $ 3,200.1 $ 1,237.7 $ 1,644.4 $ 14.6 $ 2,896.7 (1) Includes intercompany sales and eliminations. (2) Total sales include $1.6 billion and $1.4 billion for the nine months ended September 30, 2022 and 2021, respectively, attributable to the U.S., the Company’s country of domicile.
Revenue from External Customers by Products and Services	Product type net sales information is presented below (in millions): Three Months Ended September 30, 2022 Three Months Ended September 30, 2021 MP AWP Corporate and Other / Eliminations Total MP AWP Corporate and Other / Eliminations Total Net sales by product type Aerial Work Platforms $ — $ 505.5 $ 0.3 $ 505.8 $ — $ 413.7 $ 0.2 $ 413.9 Materials Processing Equipment 277.3 — — 277.3 245.5 — — 245.5 Specialty Equipment 179.7 — 0.3 180.0 173.1 — 0.3 173.4 Utility Equipment — 116.7 — 116.7 — 94.0 — 94.0 Other (1) 0.9 40.4 (0.6) 40.7 0.1 64.8 2.1 67.0 Total $ 457.9 $ 662.6 $ — $ 1,120.5 $ 418.7 $ 572.5 $ 2.6 $ 993.8 (1) Includes other product types, intercompany sales and eliminations. Nine Months Ended September 30, 2022 Nine Months Ended September 30, 2021 MP AWP Corporate and Other / Eliminations Total MP AWP Corporate and Other / Eliminations Total Net sales by product type Aerial Work Platforms $ — $ 1,344.5 $ 1.1 $ 1,345.6 $ — $ 1,218.9 $ 0.8 $ 1,219.7 Materials Processing Equipment 826.6 — 0.5 827.1 735.4 — — 735.4 Specialty Equipment 562.4 — 1.0 563.4 501.7 — 1.8 503.5 Utility Equipment — 343.3 — 343.3 — 281.7 0.6 282.3 Other (1) 2.3 124.0 (5.6) 120.7 0.6 143.8 11.4 155.8 Total $ 1,391.3 $ 1,811.8 $ (3.0) $ 3,200.1 $ 1,237.7 $ 1,644.4 $ 14.6 $ 2,896.7

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Schedule of earnings per share	(in millions, except per share data) Three Months Ended Nine Months Ended 2022 2021 2022 2021 Income (loss) from continuing operations $ 81.8 $ 47.5 $ 208.2 $ 159.5 Gain (loss) on disposition of discontinued operations – net of tax — 0.6 (0.4) 2.6 Net income (loss) $ 81.8 $ 48.1 $ 207.8 $ 162.1 Basic shares: Weighted average shares outstanding 67.8 69.8 68.8 69.7 Earnings (loss) per share – basic: Income (loss) from continuing operations $ 1.21 $ 0.68 $ 3.03 $ 2.29 Gain (loss) on disposition of discontinued operations – net of tax — 0.01 (0.01) 0.04 Net income (loss) $ 1.21 $ 0.69 $ 3.02 $ 2.33 Diluted shares: Weighted average shares outstanding – basic 67.8 69.8 68.8 69.7 Effect of dilutive securities: Restricted stock awards 0.6 1.1 0.8 1.1 Diluted weighted average shares outstanding 68.4 70.9 69.6 70.8 Earnings (loss) per share – diluted: Income (loss) from continuing operations $ 1.20 $ 0.67 $ 2.99 $ 2.25 Gain (loss) on disposition of discontinued operations – net of tax — 0.01 — 0.04 Net income (loss) $ 1.20 $ 0.68 $ 2.99 $ 2.29

INVENTORIES (Tables)

INVENTORIES (Tables)	9 Months Ended
	Sep. 30, 2022
Inventory Disclosure [Abstract]
Schedule of inventories	Inventories consist of the following (in millions): September 30, December 31, Finished equipment $ 335.0 $ 283.0 Replacement parts 147.9 157.3 Work-in-process 161.4 105.5 Raw materials and supplies 336.9 267.7 Inventories $ 981.2 $ 813.5

PROPERTY, PLANT AND EQUIPMENT (

PROPERTY, PLANT AND EQUIPMENT (Tables)	9 Months Ended
	Sep. 30, 2022
Property, Plant and Equipment [Abstract]
Schedule of property, plant and equipment	Property, plant and equipment – net consist of the following (in millions): September 30, December 31, Property $ 55.3 $ 53.1 Plant 268.2 284.4 Equipment 396.1 402.4 Leasehold improvements 45.2 50.0 Construction in progress 71.2 26.9 Property, plant and equipment – gross 836.0 816.8 Less: Accumulated depreciation (385.6) (387.2) Property, plant and equipment – net $ 450.4 $ 429.6

GOODWILL AND INTANGIBLE ASSET_2

GOODWILL AND INTANGIBLE ASSETS, NET (Tables)	9 Months Ended
	Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of changes in goodwill by business segment	An analysis of changes in the Company’s goodwill by business segment is as follows (in millions): MP AWP Total Balance at December 31, 2021, gross $ 202.2 $ 139.7 $ 341.9 Accumulated impairment (23.2) (38.6) (61.8) Balance at December 31, 2021, net 179.0 101.1 280.1 Acquisitions 21.9 — 21.9 Foreign exchange effect and other (25.7) (3.2) (28.9) Balance at September 30, 2022, gross 198.4 136.5 334.9 Accumulated impairment (23.2) (38.6) (61.8) Balance at September 30, 2022, net $ 175.2 $ 97.9 $ 273.1 During the nine months ended September 30, 2022, the Company recognized goodwill of $3.5 million in connection with the Steelweld acquisition and $18.4 million in connection with the ProAll acquisition. The goodwill associated with these transactions was attributable primarily to the assembled workforce and expected synergies from the business combinations. The goodwill was assigned to the MP segment and is not expected to be deductible for income tax purposes. See Note D – “Acquisitions” for additional information regarding the acquisitions.
Schedule of intangible assets by class	Intangible assets, net were comprised of the following (in millions): September 30, 2022 December 31, 2021 Weighted Average Life Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Definite-lived intangible assets: Technology 7 $ 8.6 $ (8.5) $ 0.1 $ 9.8 $ (9.7) $ 0.1 Customer Relationships 20 33.9 (25.9) 8.0 31.9 (25.4) 6.5 Land Use Rights 80 4.0 (0.8) 3.2 4.4 (0.8) 3.6 Other 7 29.3 (23.1) 6.2 26.3 (23.1) 3.2 Total definite-lived intangible assets $ 75.8 $ (58.3) $ 17.5 $ 72.4 $ (59.0) $ 13.4 During the nine months ended September 30, 2022, the Company recognized customer relationships of $0.6 million with an estimated useful life of three years in connection with the Steelweld acquisition and customer relationships of $3.2 million with an estimate useful life of nine years and trademarks of $3.7 million with an estimated useful life of ten years in connection with the ProAll acquisition. See Note D – “Acquisitions” for additional information regarding the acquisitions.
Finite-lived Intangible Assets Amortization Expense	Three Months Ended Nine Months Ended (in millions) 2022 2021 2022 2021 Aggregate Amortization Expense $ 0.7 $ 0.7 $ 1.9 $ 1.6
Schedule of intangible assets amortization expense	Estimated aggregate intangible asset amortization expense for each of the next five years is as follows (in millions): 2022 $ 2.7 2023 2.6 2024 2.4 2025 2.2 2026 2.0

DERIVATIVE FINANCIAL INSTRUME_2

DERIVATIVE FINANCIAL INSTRUMENTS (Tables)	9 Months Ended
	Sep. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of fair value of derivative instruments designated as hedging instruments that are reported in the Consolidated Balance Sheet	The following table provides the location and fair value amounts of derivative instruments designated and not designated as hedging instruments that are reported in the Condensed Consolidated Balance Sheet (in millions): September 30, December 31, Instrument (1) Balance Sheet Account Derivatives designated as hedges Derivatives not designated as hedges Derivatives designated as hedges Derivatives not designated as hedges Foreign exchange contracts Other current assets $ — $ 4.4 $ (0.1) $ 0.7 Cross currency swaps - net investment hedge Other current assets 0.4 — — — Commodity swaps Other current assets — — 4.3 — Cross currency swaps - net investment hedge Other non-current assets 0.6 — — — Foreign exchange contracts Other current liabilities (0.3) (2.2) — — Cross currency swaps - net investment hedge Other current liabilities — — (0.5) — Commodity swaps Other current liabilities (2.1) — (1.1) — Cross currency swaps - net investment hedge Other non-current liabilities — — (2.4) — Commodity swaps Other non-current liabilities (0.5) — — — Net derivative asset (liability) $ (1.9) $ 2.2 $ 0.2 $ 0.7 (1) Categorized as Level 2 under the ASC 820 Fair Value Hierarchy.
Schedule of derivative instruments that are designated as hedges in the Consolidated Statement of Comprehensive Income	The following tables provide the effect of derivative instruments that are designated as hedges in AOCI (in millions): Gain (Loss) Recognized on Derivatives in OCI, net of tax Gain (Loss) Reclassified from AOCI into Income (Loss) Instrument Three Months Ended Nine Months Ended Income Statement Account Three Months Ended Nine Months Ended Foreign exchange contracts $ (0.2) $ (0.2) Cost of goods sold $ — $ 0.1 Commodity swaps (4.0) (10.9) Cost of goods sold (0.4) 6.9 Cross currency swaps - net investment hedge 2.4 6.1 Selling, general and administrative expenses — — Total $ (1.8) $ (5.0) Total $ (0.4) $ 7.0 Gain (Loss) Recognized on Derivatives in OCI, net of tax Gain (Loss) Reclassified from AOCI into Income (Loss) Instrument Three Months Ended Nine Months Ended Income Statement Account Three Months Ended Nine Months Ended Foreign exchange contracts $ — $ — Cost of goods sold $ — $ 0.1 Commodity swaps (5.8) 9.1 Cost of goods sold 6.9 8.3 Cross currency swaps - net investment hedge 1.8 4.0 Selling, general and administrative expenses — — Interest rate caps 0.1 2.7 Interest expense (0.3) (0.9) Total $ (3.9) $ 15.8 Total $ 6.6 $ 7.5 The following tables provide the effect of derivative instruments that are designated as hedges in the Condensed Consolidated Statement of Comprehensive Income (Loss) (in millions): Classification and amount of Gain (Loss) Recognized in Income (Loss) Cost of goods sold Interest expense Three Months Ended Nine Months Ended Three Months Ended Nine Months Ended Income Statement Accounts in which effects of cash flow hedges are recorded $ (883.4) $ (2,564.3) $ (13.5) $ (35.8) Gain (loss) reclassified from AOCI into Income (loss): Foreign exchange contracts — 0.1 — — Commodity swaps (0.4) 6.9 — — Amount excluded from effectiveness testing recognized in Income (loss) based on amortization approach: Cross currency swaps - net investment hedge — — — 0.3 Total $ (0.4) $ 7.0 $ — $ 0.3 Classification and amount of Gain (Loss) Recognized in Income (Loss) Cost of goods sold Interest expense Three Months Ended Nine Months Ended September 30, 2021 Three Months Ended Nine Months Ended Income Statement Accounts in which effects of cash flow hedges are recorded $ (815.3) $ (2,311.2) $ (12.3) $ (40.6) Gain (loss) reclassified from AOCI into Income (loss): Foreign exchange contracts — 0.1 — — Commodity swaps 6.9 8.3 — — Interest rate caps — — (0.3) (0.9) Amount excluded from effectiveness testing recognized in Income (loss) based on amortization approach: Cross currency swaps - net investment hedge — — 0.2 0.5 Total $ 6.9 $ 8.4 $ (0.1) $ (0.4)
Schedule of fair value of derivative instruments not designated as hedging instruments that are reported in the Consolidated Statement of Comprehensive Income and Balance Sheet	Derivatives not designated as hedges are used to offset foreign exchange gains or losses resulting from the underlying exposures of foreign currency denominated assets and liabilities. The following table provides the effect of non-designated derivatives in the Condensed Consolidated Statement of Comprehensive Income (Loss) (in millions): Gain (Loss) Recognized in Income (Loss) Three Months Ended Nine Months Ended Instrument Income Statement Account 2022 2021 2022 2021 Foreign exchange contracts Cost of goods sold $ (3.1) $ (0.6) $ (2.2) $ (0.6) Foreign exchange contracts Other income (expense) – net 2.3 (0.1) 1.3 (0.3) Total $ (0.8) $ (0.7) $ (0.9) $ (0.9)

LONG-TERM OBLIGATIONS LONG TERM

LONG-TERM OBLIGATIONS LONG TERM OBLIGATIONS (Tables)	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
Schedule of Debt	Letters of credit outstanding (in millions): September 30, 2022 December 31, 2021 $400 Million Facility $ — $ — $300 Million Facility 68.0 62.8 Bilateral Arrangements 46.3 45.0 Total $ 114.3 $ 107.8
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments	The Company estimates the fair values of its debt set forth below as of September 30, 2022, as follows (in millions, except for quotes): Book Value Quote Fair Value 5% Notes $ 600.0 0.84000 $ 504.0 Original Term Loan (net of discount) $ 54.9 0.99500 $ 54.6

RETIREMENT PLANS AND OTHER BE_2

RETIREMENT PLANS AND OTHER BENEFITS (Tables)	9 Months Ended
	Sep. 30, 2022
Retirement Benefits [Abstract]
Schedule of components of net periodic cost	Information regarding the Company’s plans, including the U.S. SERP, is as follows (in millions): Three Months Ended Nine Months Ended 2022 2021 2022 2021 U.S. Pension Non-U.S. Pension Other U.S. Pension Non-U.S. Pension Other U.S. Pension Non-U.S. Pension Other U.S. Pension Non-U.S. Pension Other Components of net periodic cost: Service cost $ — $ 0.2 $ — $ — $ 0.2 $ — $ — $ 0.6 $ — $ — $ 0.7 $ — Interest cost 0.3 0.5 0.1 0.2 0.6 0.1 0.9 1.9 0.1 0.8 1.8 0.1 Expected return on plan assets — (1.1) — — (1.3) — — (3.8) — — (4.2) — Amortization of actuarial (gain) loss 0.1 0.2 — — 0.6 — 0.2 0.9 — 0.2 1.8 — Net periodic cost $ 0.4 $ (0.2) $ 0.1 $ 0.2 $ 0.1 $ 0.1 $ 1.1 $ (0.4) $ 0.1 $ 1.0 $ 0.1 $ 0.1

STOCKHOLDERS' EQUITY (Tables)

STOCKHOLDERS' EQUITY (Tables)	9 Months Ended
	Sep. 30, 2022
Stockholders' Equity Note [Abstract]
Schedule of accumulated other comprehensive income (loss)	The table below presents changes in AOCI by component for the three and nine months ended September 30, 2022 and 2021. All amounts are net of tax (in millions). Three Months Ended Three Months Ended CTA Derivative Hedging Adj. Debt & Equity Securities Adj. Pension Liability Adj. Total CTA Derivative Hedging Adj. Debt & Equity Securities Adj. Pension Liability Adj. Total Beginning balance $ (278.9) $ 0.8 $ (2.9) $ (39.9) $ (320.9) $ (156.6) $ 13.7 $ 0.6 $ (57.7) $ (200.0) Other comprehensive income (loss) before reclassifications (80.8) (2.1) (1.0) 2.9 (81.0) (27.1) 1.1 (0.2) 1.5 (24.7) Amounts reclassified from AOCI — 0.3 — 0.3 0.6 — (5.0) — 0.4 (4.6) Net other comprehensive income (loss) (80.8) (1.8) (1.0) 3.2 (80.4) (27.1) (3.9) (0.2) 1.9 (29.3) Ending balance $ (359.7) $ (1.0) $ (3.9) $ (36.7) $ (401.3) $ (183.7) $ 9.8 $ 0.4 $ (55.8) $ (229.3) Nine Months Ended September 30, 2022 Nine Months Ended September 30, 2021 CTA Derivative Hedging Adj. Debt & Equity Securities Adj. Pension Liability Adj. Total CTA Derivative Hedging Adj. Debt & Equity Securities Adj. Pension Liability Adj. Total Beginning balance $ (188.0) $ 4.0 $ — $ (44.5) $ (228.5) $ (145.2) $ (6.0) $ 1.2 $ (58.4) $ (208.4) Other comprehensive income (loss) before reclassifications (171.3) 0.5 (3.9) 6.8 (167.9) (38.5) 21.6 (0.8) 1.1 (16.6) Amounts reclassified from AOCI (0.4) (5.5) — 1.0 (4.9) — (5.8) — 1.5 (4.3) Net other comprehensive income (loss) (171.7) (5.0) (3.9) 7.8 (172.8) (38.5) 15.8 (0.8) 2.6 (20.9) Ending balance $ (359.7) $ (1.0) $ (3.9) $ (36.7) $ (401.3) $ (183.7) $ 9.8 $ 0.4 $ (55.8) $ (229.3)
Schedule of weighted-average assumptions used in the valuations	The following table presents the weighted-average assumptions used in the valuation: Grant date March 17, 2022 Dividend yields 1.31 % Expected volatility 54.25 % Risk free interest rate 2.09 % Expected life (in years) 3
Schedule of Repurchase Agreements	The table below presents shares repurchased, inclusive of transactions executed but not settled, by the Company under this program. Nine Months Ended Total Number of Amount of Shares Repurchased (in millions) 2022 2,747,751 $92.9 2021 — $—
Dividends Declared	The table below presents dividends declared by Terex’s Board of Directors and paid to the Company’s shareholders: Year First Quarter Second Quarter Third Quarter 2022 $ 0.13 $ 0.13 $ 0.13 2021 $ 0.12 $ 0.12 $ 0.12

BASIS OF PRESENTATION - Additio

BASIS OF PRESENTATION - Additional Information (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Cash and cash equivalents, not immediately available for use	$ 3.4	$ 3.7

BASIS OF PRESENTATION - Allowan

BASIS OF PRESENTATION - Allowance for doubtful accounts rollforward (Details) $ in Millions	9 Months Ended
	Sep. 30, 2022 USD ($)
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 9.7
Provision for credit losses	0.8
Other	(1.5)
Ending balance	$ 9

BASIS OF PRESENTATION - Changes

BASIS OF PRESENTATION - Changes in Product Warranty Liability (Details) $ in Millions	9 Months Ended
	Sep. 30, 2022 USD ($)
Changes in consolidated current and non-current product warranty liability
Balance as of December 31, 2021	$ 44.1
Accruals for warranties issued during the period	29.5
Changes in estimates	(2)
Settlements during the period	(27.5)
Foreign exchange effect/other	(2.8)
Balance as of September 30, 2022	$ 41.3

BUSINESS SEGMENT INFORMATION -

BUSINESS SEGMENT INFORMATION - Additional Information (Details)	9 Months Ended
	Sep. 30, 2022 segments
Segment Reporting [Abstract]
Number of reportable segments	2

BUSINESS SEGMENT INFORMATION _2

BUSINESS SEGMENT INFORMATION - Net Sales and Income (Loss) from Operations by Segment (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Segment Reporting Information [Line Items]
Net sales	$ 1,120.5	$ 993.8	$ 3,200.1	$ 2,896.7
Income (loss) from operations	120.8	74.2	299.2	258.2
Operating Segments | AWP
Segment Reporting Information [Line Items]
Net sales	662.6	572.5	1,811.8	1,644.4
Income (loss) from operations	63.5	34.9	142.2	126.7
Operating Segments | MP
Segment Reporting Information [Line Items]
Net sales	457.9	418.7	1,391.3	1,237.7
Income (loss) from operations	66.8	57.1	210.8	178.3
Corporate and Other / Eliminations
Segment Reporting Information [Line Items]
Net sales	0	2.6	(3)	14.6
Income (loss) from operations	$ (9.5)	$ (17.8)	$ (53.8)	$ (46.8)

BUSINESS SEGMENT INFORMATION _3

BUSINESS SEGMENT INFORMATION - Identifiable Assets by Segment (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Assets	$ 2,976.5	$ 2,863.5
Operating Segments | AWP
Segment Reporting Information [Line Items]
Assets	2,023.8	1,870.8
Operating Segments | MP
Segment Reporting Information [Line Items]
Assets	1,687.2	1,648
Corporate and Other / Eliminations
Segment Reporting Information [Line Items]
Assets	$ (734.5)	$ (655.3)

BUSINESS SEGMENT INFORMATION _4

BUSINESS SEGMENT INFORMATION - Net Sales by Region (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Segment Reporting Information [Line Items]
Net sales	$ 1,120.5	$ 993.8	$ 3,200.1	$ 2,896.7
UNITED STATES
Segment Reporting Information [Line Items]
Net sales	568.6	490.3	1,600	1,400
North America
Segment Reporting Information [Line Items]
Net sales	642.1	545.6	1,799.3	1,579.3
Western Europe
Segment Reporting Information [Line Items]
Net sales	235.6	199.9	725.1	646
Asia-Pacific
Segment Reporting Information [Line Items]
Net sales	161.4	176.5	444.9	500.5
Rest of World
Segment Reporting Information [Line Items]
Net sales	81.4	71.8	230.8	170.9
Corporate and Other / Eliminations
Segment Reporting Information [Line Items]
Net sales	0	2.6	(3)	14.6
Corporate and Other / Eliminations | North America
Segment Reporting Information [Line Items]
Net sales	7.4	8.3	10.8	23.7
Corporate and Other / Eliminations | Western Europe
Segment Reporting Information [Line Items]
Net sales	0.1	0.2	0.3	0.4
Corporate and Other / Eliminations | Asia-Pacific
Segment Reporting Information [Line Items]
Net sales	0.5	0.5	0.5	0.9
Corporate and Other / Eliminations | Rest of World
Segment Reporting Information [Line Items]
Net sales	(8)	(6.4)	(14.6)	(10.4)
AWP | Operating Segments
Segment Reporting Information [Line Items]
Net sales	662.6	572.5	1,811.8	1,644.4
AWP | Operating Segments | North America
Segment Reporting Information [Line Items]
Net sales	444.8	377.5	1,226.8	1,066.7
AWP | Operating Segments | Western Europe
Segment Reporting Information [Line Items]
Net sales	98.4	81.8	293	265.8
AWP | Operating Segments | Asia-Pacific
Segment Reporting Information [Line Items]
Net sales	65.9	80.5	161.5	241.6
AWP | Operating Segments | Rest of World
Segment Reporting Information [Line Items]
Net sales	53.5	32.7	130.5	70.3
MP | Operating Segments
Segment Reporting Information [Line Items]
Net sales	457.9	418.7	1,391.3	1,237.7
MP | Operating Segments | North America
Segment Reporting Information [Line Items]
Net sales	189.9	159.8	561.7	488.9
MP | Operating Segments | Western Europe
Segment Reporting Information [Line Items]
Net sales	137.1	117.9	431.8	379.8
MP | Operating Segments | Asia-Pacific
Segment Reporting Information [Line Items]
Net sales	95	95.5	282.9	258
MP | Operating Segments | Rest of World
Segment Reporting Information [Line Items]
Net sales	$ 35.9	$ 45.5	$ 114.9	$ 111

BUSINESS SEGMENT INFORMATION _5

BUSINESS SEGMENT INFORMATION - Net Sales by Product Type (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Segment Reporting Information [Line Items]
Net sales	$ 1,120.5	$ 993.8	$ 3,200.1	$ 2,896.7
Operating Segments | AWP
Segment Reporting Information [Line Items]
Net sales	662.6	572.5	1,811.8	1,644.4
Operating Segments | MP
Segment Reporting Information [Line Items]
Net sales	457.9	418.7	1,391.3	1,237.7
Corporate and Other / Eliminations
Segment Reporting Information [Line Items]
Net sales	0	2.6	(3)	14.6
Aerial Work Platforms
Segment Reporting Information [Line Items]
Net sales	505.8	413.9	1,345.6	1,219.7
Aerial Work Platforms | Operating Segments | AWP
Segment Reporting Information [Line Items]
Net sales	505.5	413.7	1,344.5	1,218.9
Aerial Work Platforms | Operating Segments | MP
Segment Reporting Information [Line Items]
Net sales	0	0	0	0
Aerial Work Platforms | Corporate and Other / Eliminations
Segment Reporting Information [Line Items]
Net sales	0.3	0.2	1.1	0.8
Materials Processing Equipment
Segment Reporting Information [Line Items]
Net sales	277.3	245.5	827.1	735.4
Materials Processing Equipment | Operating Segments | AWP
Segment Reporting Information [Line Items]
Net sales	0	0	0	0
Materials Processing Equipment | Operating Segments | MP
Segment Reporting Information [Line Items]
Net sales	277.3	245.5	826.6	735.4
Materials Processing Equipment | Corporate and Other / Eliminations
Segment Reporting Information [Line Items]
Net sales	0	0	0.5	0
Specialty Equipment
Segment Reporting Information [Line Items]
Net sales	180	173.4	563.4	503.5
Specialty Equipment | Operating Segments | AWP
Segment Reporting Information [Line Items]
Net sales	0	0	0	0
Specialty Equipment | Operating Segments | MP
Segment Reporting Information [Line Items]
Net sales	179.7	173.1	562.4	501.7
Specialty Equipment | Corporate and Other / Eliminations
Segment Reporting Information [Line Items]
Net sales	0.3	0.3	1	1.8
Other
Segment Reporting Information [Line Items]
Net sales	40.7	67	120.7	155.8
Other | Operating Segments | AWP
Segment Reporting Information [Line Items]
Net sales	40.4	64.8	124	143.8
Other | Operating Segments | MP
Segment Reporting Information [Line Items]
Net sales	0.9	0.1	2.3	0.6
Other | Corporate and Other / Eliminations
Segment Reporting Information [Line Items]
Net sales	(0.6)	2.1	(5.6)	11.4
Utility Products
Segment Reporting Information [Line Items]
Net sales	116.7	94	343.3	282.3
Utility Products | Operating Segments | AWP
Segment Reporting Information [Line Items]
Net sales	116.7	94	343.3	281.7
Utility Products | Operating Segments | MP
Segment Reporting Information [Line Items]
Net sales	0	0	0	0
Utility Products | Corporate and Other / Eliminations
Segment Reporting Information [Line Items]
Net sales	$ 0	$ 0	$ 0	$ 0.6

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Tax Disclosure [Abstract]
(Provision for) benefit from income taxes	$ (25.6)	$ (13.9)	$ (52.6)	$ (36)
Income (loss) from continuing operations before income taxes	$ 107.4	$ 61.4	$ 260.8	$ 195.5
Effective income tax rate, continuing operations	23.80%	22.60%	20.20%	18.40%

ACQUISITIONS - Additional Infor

ACQUISITIONS - Additional Information (Details) - USD ($) $ in Millions	Jul. 29, 2022	Apr. 22, 2022
Steelweld
Business Acquisition [Line Items]
Consideration transferred for business acquisition		$ 6
ProAll International Mfg. Inc and ProAll UK Limited
Business Acquisition [Line Items]
Consideration transferred for business acquisition	$ 39

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Earnings per share
Income (loss) from continuing operations	$ 81.8	$ 47.5	$ 208.2	$ 159.5
Gain (loss) on disposition of discontinued operations – net of tax	0	0.6	(0.4)	2.6
Net income (loss)	$ 81.8	$ 48.1	$ 207.8	$ 162.1
Basic shares:
Weighted average shares outstanding - basic (in shares)	67.8	69.8	68.8	69.7
Earnings (loss) per share – basic:
Income (loss) from continuing operations	$ 1.21	$ 0.68	$ 3.03	$ 2.29
Gain (loss) on disposition of discontinued operations – net of tax		0.01	(0.01)	0.04
Net income (loss)	$ 1.21	$ 0.69	$ 3.02	$ 2.33
Diluted shares:
Weighted average shares outstanding - basic (in shares)	67.8	69.8	68.8	69.7
Effect of dilutive securities:
Stock options and restricted stock awards (in shares)	0.6	1.1	0.8	1.1
Diluted weighted average shares outstanding (in shares)	68.4	70.9	69.6	70.8
Earnings (loss) per share – diluted:
Income (loss) from continuing operations	$ 1.20	$ 0.67	$ 2.99	$ 2.25
Gain (loss) on disposition of discontinued operations – net of tax		0.01		0.04
Net income (loss)	$ 1.20	$ 0.68	$ 2.99	$ 2.29
Restricted Stock
Earnings (loss) per share – diluted:
Antidilutive securities excluded from computation of earnings per share (in shares)	0.5	0.1	0.6	0.1

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Finished equipment	$ 335	$ 283
Replacement parts	147.9	157.3
Work-in-process	161.4	105.5
Raw materials and supplies	336.9	267.7
Inventories	981.2	813.5
Inventory reserves	55.6	57.8
WIP inventory awaiting final components	$ 63	$ 10

PROPERTY, PLANT AND EQUIPMENT_2

PROPERTY, PLANT AND EQUIPMENT (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Property, plant and equipment.
Gross property, plant and equipment	$ 836	$ 816.8
Less: Accumulated depreciation	(385.6)	(387.2)
Net property, plant and equipment	450.4	429.6
Property
Property, plant and equipment.
Gross property, plant and equipment	55.3	53.1
Plant
Property, plant and equipment.
Gross property, plant and equipment	268.2	284.4
Equipment
Property, plant and equipment.
Gross property, plant and equipment	396.1	402.4
Leasehold Improvements
Property, plant and equipment.
Gross property, plant and equipment	45.2	50
Construction in Progress
Property, plant and equipment.
Gross property, plant and equipment	$ 71.2	$ 26.9

GOODWILL AND INTANGIBLE ASSET_3

GOODWILL AND INTANGIBLE ASSETS, NET (Details) $ in Millions	9 Months Ended
	Sep. 30, 2022 USD ($)
Changes in goodwill by business segment
Balance at the beginning of the period, goodwill gross	$ 341.9
Accumulated impairment	(61.8)
Balance at the beginning of the period, goodwill net	280.1
Aquired goodwill recognized during the period	21.9
Foreign exchange effect and other	(28.9)
Balance at the end of the period, goodwill gross	334.9
Accumulated impairment	(61.8)
Balance at the end of the period, goodwill net	273.1
MP
Changes in goodwill by business segment
Balance at the beginning of the period, goodwill gross	202.2
Accumulated impairment	(23.2)
Balance at the beginning of the period, goodwill net	179
Aquired goodwill recognized during the period	21.9
Foreign exchange effect and other	(25.7)
Balance at the end of the period, goodwill gross	198.4
Accumulated impairment	(23.2)
Balance at the end of the period, goodwill net	175.2
MP | Steelweld
Changes in goodwill by business segment
Aquired goodwill recognized during the period	3.5
MP | ProAll International Mfg. Inc and ProAll UK Limited
Changes in goodwill by business segment
Aquired goodwill recognized during the period	18.4
AWP
Changes in goodwill by business segment
Balance at the beginning of the period, goodwill gross	139.7
Accumulated impairment	(38.6)
Balance at the beginning of the period, goodwill net	101.1
Aquired goodwill recognized during the period	0
Foreign exchange effect and other	(3.2)
Balance at the end of the period, goodwill gross	136.5
Accumulated impairment	(38.6)
Balance at the end of the period, goodwill net	$ 97.9

GOODWILL AND INTANGIBLE ASSET_4

GOODWILL AND INTANGIBLE ASSETS, NET GOODWILL AND INTANGIBLE ASSETS, NET - INTANGIBLE ASSETS (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Jul. 29, 2022	Apr. 22, 2022	Dec. 31, 2021
Definite-lived intangible assets:
Gross Carrying Amount	$ 75.8		$ 75.8				$ 72.4
Accumulated Amortization	(58.3)		(58.3)				(59)
Net Carrying Amount	17.5		17.5				13.4
Aggregate Amortization Expense	0.7	$ 0.7	1.9	$ 1.6
Finite-Lived Intangible Assets, Future Amortization Expense [Abstract]
2022	2.7		2.7
2023	2.6		2.6
2024	2.4		2.4
2025	2.2		2.2
2026	2		$ 2
Technology
Definite-lived intangible assets:
Weighted Average Life (in years)			7 years
Gross Carrying Amount	8.6		$ 8.6				9.8
Accumulated Amortization	(8.5)		(8.5)				(9.7)
Net Carrying Amount	0.1		$ 0.1				0.1
Customer Relationships
Definite-lived intangible assets:
Weighted Average Life (in years)			20 years
Gross Carrying Amount	33.9		$ 33.9				31.9
Accumulated Amortization	(25.9)		(25.9)				(25.4)
Net Carrying Amount	8		$ 8				6.5
Customer Relationships | Steelweld
Definite-lived intangible assets:
Weighted Average Life (in years)			3 years
Intangible assets aquired						$ 0.6
Customer Relationships | ProAll International Mfg. Inc and ProAll UK Limited
Definite-lived intangible assets:
Weighted Average Life (in years)			9 years
Intangible assets aquired					$ 3.2
Land Use Rights
Definite-lived intangible assets:
Weighted Average Life (in years)			80 years
Gross Carrying Amount	4		$ 4				4.4
Accumulated Amortization	(0.8)		(0.8)				(0.8)
Net Carrying Amount	3.2		$ 3.2				3.6
Other
Definite-lived intangible assets:
Weighted Average Life (in years)			7 years
Gross Carrying Amount	29.3		$ 29.3				26.3
Accumulated Amortization	(23.1)		(23.1)				(23.1)
Net Carrying Amount	$ 6.2		$ 6.2				$ 3.2
Trademarks | ProAll International Mfg. Inc and ProAll UK Limited
Definite-lived intangible assets:
Weighted Average Life (in years)			10 years
Intangible assets aquired					$ 3.7

DERIVATIVE FINANCIAL INSTRUME_3

DERIVATIVE FINANCIAL INSTRUMENTS - Narrative (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Derivative [Line Items]
Cash flow hedge gain (loss) to be reclassified within twelve months	$ 2
Derivatives designated as hedges | Foreign exchange contracts
Derivative [Line Items]
Derivative, notional amount	8.6	$ 19.4
Derivatives designated as hedges | Cross currency swaps | Net Investment Hedging
Derivative [Line Items]
Derivative, notional amount	29.4	68.2
Derivatives designated as hedges | Commodity swaps
Derivative [Line Items]
Derivative, notional amount	18.6	22.5
Derivatives not designated as hedges | Foreign exchange contracts
Derivative [Line Items]
Derivative, notional amount	$ 241.6	$ 139.7

DERIVATIVE FINANCIAL INSTRUME_4

DERIVATIVE FINANCIAL INSTRUMENTS - Balance Sheet Table (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Derivatives designated as hedges
Derivative [Line Items]
Net derivative asset (liability)	$ (1.9)	$ 0.2
Derivatives designated as hedges | Other current assets | Commodity swaps
Derivative [Line Items]
Derivative assets	0	4.3
Derivatives designated as hedges | Other current assets | Foreign exchange contracts
Derivative [Line Items]
Derivative assets	0	(0.1)
Derivatives designated as hedges | Other current assets | Cross currency swaps
Derivative [Line Items]
Derivative assets	0.4	0
Derivatives designated as hedges | Other current liabilities | Commodity swaps
Derivative [Line Items]
Derivatives liabilities	(2.1)	(1.1)
Derivatives designated as hedges | Other current liabilities | Foreign exchange contracts
Derivative [Line Items]
Derivatives liabilities	(0.3)	0
Derivatives designated as hedges | Other current liabilities | Cross currency swaps | Net Investment Hedging
Derivative [Line Items]
Derivatives liabilities	0	(0.5)
Derivatives designated as hedges | Other non-current liabilities | Commodity swaps
Derivative [Line Items]
Derivatives liabilities	(0.5)	0
Derivatives designated as hedges | Other non-current liabilities | Cross currency swaps | Net Investment Hedging
Derivative [Line Items]
Derivatives liabilities	0	(2.4)
Derivatives designated as hedges | Other Noncurrent Assets | Cross currency swaps
Derivative [Line Items]
Derivative assets	0.6	0
Derivatives not designated as hedges
Derivative [Line Items]
Net derivative asset (liability)	2.2	0.7
Derivatives not designated as hedges | Other current assets | Commodity swaps
Derivative [Line Items]
Derivative assets	0	0
Derivatives not designated as hedges | Other current assets | Foreign exchange contracts
Derivative [Line Items]
Derivative assets	4.4	0.7
Derivatives not designated as hedges | Other current assets | Cross currency swaps
Derivative [Line Items]
Derivative assets	0	0
Derivatives not designated as hedges | Other current liabilities | Commodity swaps
Derivative [Line Items]
Derivatives liabilities	0	0
Derivatives not designated as hedges | Other current liabilities | Foreign exchange contracts
Derivative [Line Items]
Derivatives liabilities	(2.2)	0
Derivatives not designated as hedges | Other current liabilities | Cross currency swaps | Net Investment Hedging
Derivative [Line Items]
Derivatives liabilities	0	0
Derivatives not designated as hedges | Other non-current liabilities | Commodity swaps
Derivative [Line Items]
Derivatives liabilities	0	0
Derivatives not designated as hedges | Other non-current liabilities | Cross currency swaps | Net Investment Hedging
Derivative [Line Items]
Derivatives liabilities	0	0
Derivatives not designated as hedges | Other Noncurrent Assets | Cross currency swaps
Derivative [Line Items]
Derivative assets	$ 0	$ 0

DERIVATIVE FINANCIAL INSTRUME_5

DERIVATIVE FINANCIAL INSTRUMENTS - Effect of derivative instruments designated as hedges in AOCI (Details) - Derivatives designated as hedges - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Cash Flow Hedging
Derivative [Line Items]
Gain (Loss) Recognized on Derivatives in OCI, net of tax	$ (1.8)	$ (3.9)	$ (5)	$ 15.8
Gain (Loss) Reclassified from AOCI into Income (Loss)	(0.4)	6.6	7	7.5
Cash Flow Hedging | Cost of goods sold
Derivative [Line Items]
Gain (Loss) Reclassified from AOCI into Income (Loss)	(0.4)	6.9	7	8.4
Cash Flow Hedging | Interest Expense
Derivative [Line Items]
Gain (Loss) Reclassified from AOCI into Income (Loss)	0	(0.1)	0.3	(0.4)
Cash Flow Hedging | Foreign exchange contracts
Derivative [Line Items]
Gain (Loss) Recognized on Derivatives in OCI, net of tax	(0.2)	0	(0.2)	0
Cash Flow Hedging | Foreign exchange contracts | Cost of goods sold
Derivative [Line Items]
Gain (Loss) Reclassified from AOCI into Income (Loss)	0	0	0.1	0.1
Cash Flow Hedging | Foreign exchange contracts | Interest Expense
Derivative [Line Items]
Gain (Loss) Reclassified from AOCI into Income (Loss)	0	0	0	0
Cash Flow Hedging | Commodity swaps
Derivative [Line Items]
Gain (Loss) Recognized on Derivatives in OCI, net of tax	(4)	(5.8)	(10.9)	9.1
Cash Flow Hedging | Commodity swaps | Cost of goods sold
Derivative [Line Items]
Gain (Loss) Reclassified from AOCI into Income (Loss)	(0.4)	6.9	6.9	8.3
Cash Flow Hedging | Commodity swaps | Interest Expense
Derivative [Line Items]
Gain (Loss) Reclassified from AOCI into Income (Loss)	0	0	0	0
Cash Flow Hedging | Interest Rate Cap
Derivative [Line Items]
Gain (Loss) Recognized on Derivatives in OCI, net of tax		0.1		2.7
Cash Flow Hedging | Interest Rate Cap | Cost of goods sold
Derivative [Line Items]
Gain (Loss) Reclassified from AOCI into Income (Loss)		0		0
Cash Flow Hedging | Interest Rate Cap | Interest Expense
Derivative [Line Items]
Gain (Loss) Reclassified from AOCI into Income (Loss)		(0.3)		(0.9)
Net Investment Hedging | Cross currency swaps
Derivative [Line Items]
Gain (Loss) Recognized on Derivatives in OCI, net of tax	2.4	1.8	6.1	4
Net Investment Hedging | Cross currency swaps | Selling, General and Administrative Expenses
Derivative [Line Items]
Gain (Loss) Reclassified from AOCI into Income (Loss)	$ 0	$ 0	$ 0	$ 0

DERIVATIVE FINANCIAL INSTRUME_6

DERIVATIVE FINANCIAL INSTRUMENTS - Effect of derivative instruments on income (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Statement Accounts in which effects of cash flow hedges are recorded
Cost of goods sold	$ (883.4)	$ (815.3)	$ (2,564.3)	$ (2,311.2)
Interest expense	(13.5)	(12.3)	(35.8)	(40.6)
Cash Flow Hedging | Derivatives designated as hedges
Income Statement Accounts in which effects of cash flow hedges are recorded
Gain (Loss) Reclassified from AOCI into Income (Loss)	(0.4)	6.6	7	7.5
Amount excluded from effectiveness testing recognized in Income (loss) based on amortization approach:
Total	(0.4)	6.6	7	7.5
Cash Flow Hedging | Derivatives designated as hedges | Cost of goods sold
Income Statement Accounts in which effects of cash flow hedges are recorded
Gain (Loss) Reclassified from AOCI into Income (Loss)	(0.4)	6.9	7	8.4
Amount excluded from effectiveness testing recognized in Income (loss) based on amortization approach:
Total	(0.4)	6.9	7	8.4
Cash Flow Hedging | Derivatives designated as hedges | Interest Expense
Income Statement Accounts in which effects of cash flow hedges are recorded
Gain (Loss) Reclassified from AOCI into Income (Loss)	0	(0.1)	0.3	(0.4)
Amount excluded from effectiveness testing recognized in Income (loss) based on amortization approach:
Total	0	(0.1)	0.3	(0.4)
Cash Flow Hedging | Commodity swaps | Derivatives designated as hedges | Cost of goods sold
Income Statement Accounts in which effects of cash flow hedges are recorded
Gain (Loss) Reclassified from AOCI into Income (Loss)	(0.4)	6.9	6.9	8.3
Amount excluded from effectiveness testing recognized in Income (loss) based on amortization approach:
Total	(0.4)	6.9	6.9	8.3
Cash Flow Hedging | Commodity swaps | Derivatives designated as hedges | Interest Expense
Income Statement Accounts in which effects of cash flow hedges are recorded
Gain (Loss) Reclassified from AOCI into Income (Loss)	0	0	0	0
Amount excluded from effectiveness testing recognized in Income (loss) based on amortization approach:
Total	0	0	0	0
Cash Flow Hedging | Interest Rate Cap | Derivatives designated as hedges | Cost of goods sold
Income Statement Accounts in which effects of cash flow hedges are recorded
Gain (Loss) Reclassified from AOCI into Income (Loss)		0		0
Amount excluded from effectiveness testing recognized in Income (loss) based on amortization approach:
Total		0		0
Cash Flow Hedging | Interest Rate Cap | Derivatives designated as hedges | Interest Expense
Income Statement Accounts in which effects of cash flow hedges are recorded
Gain (Loss) Reclassified from AOCI into Income (Loss)		(0.3)		(0.9)
Amount excluded from effectiveness testing recognized in Income (loss) based on amortization approach:
Total		(0.3)		(0.9)
Cash Flow Hedging | Foreign exchange contracts | Derivatives designated as hedges | Cost of goods sold
Income Statement Accounts in which effects of cash flow hedges are recorded
Gain (Loss) Reclassified from AOCI into Income (Loss)	0	0	0.1	0.1
Amount excluded from effectiveness testing recognized in Income (loss) based on amortization approach:
Total	0	0	0.1	0.1
Cash Flow Hedging | Foreign exchange contracts | Derivatives designated as hedges | Interest Expense
Income Statement Accounts in which effects of cash flow hedges are recorded
Gain (Loss) Reclassified from AOCI into Income (Loss)	0	0	0	0
Amount excluded from effectiveness testing recognized in Income (loss) based on amortization approach:
Total	0	0	0	0
Cash Flow Hedging | Reclassification out of Accumulated Other Comprehensive Income | Accumulated Gain (Loss), Cash Flow Hedge, Including Noncontrolling Interest
Income Statement Accounts in which effects of cash flow hedges are recorded
Cost of goods sold	(883.4)	(815.3)	(2,564.3)	(2,311.2)
Interest expense	(13.5)	(12.3)	(35.8)	(40.6)
Net Investment Hedging | Cross currency swaps | Derivatives designated as hedges | Cost of goods sold
Amount excluded from effectiveness testing recognized in Income (loss) based on amortization approach:
Cross currency swaps - net investment hedge	0	0	0	0
Net Investment Hedging | Cross currency swaps | Derivatives designated as hedges | Interest Expense
Amount excluded from effectiveness testing recognized in Income (loss) based on amortization approach:
Cross currency swaps - net investment hedge	$ 0	$ 0.2	$ 0.3	$ 0.5

DERIVATIVE FINANCIAL INSTRUME_7

DERIVATIVE FINANCIAL INSTRUMENTS -Effect of derivative instruments not designated as hedges on income (Details) - Derivatives not designated as hedges - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Derivative [Line Items]
Derivative, Gain (Loss) on Derivative, Net	$ (0.8)	$ (0.7)	$ (0.9)	$ (0.9)
Foreign exchange contracts | Cost of goods sold
Derivative [Line Items]
Derivative, Gain (Loss) on Derivative, Net	(3.1)	(0.6)	(2.2)	(0.6)
Foreign exchange contracts | Other income (expense) – net
Derivative [Line Items]
Derivative, Gain (Loss) on Derivative, Net	$ 2.3	$ (0.1)	$ 1.3	$ (0.3)

LONG-TERM OBLIGATIONS - Credit

LONG-TERM OBLIGATIONS - Credit Agreement (Details)

3 Months Ended

9 Months Ended

Apr. 01, 2021

Mar. 07, 2019 USD ($)

Feb. 28, 2018

Sep. 30, 2022 USD ($)

Jun. 30, 2022 USD ($)

Sep. 30, 2021 USD ($)

Jun. 30, 2021 USD ($)

Mar. 31, 2021 USD ($)

Sep. 30, 2022 USD ($)

Sep. 30, 2021 USD ($)

Dec. 31, 2021 USD ($)

Feb. 15, 2021 USD ($)

Jan. 31, 2017 USD ($)

Debt Instrument [Line Items]

Loss on early extinguishment of debt

$ 0

$ 0

$ (100,000)

$ (27,700,000)

Credit Agreement

Debt Instrument [Line Items]

Percentage of capital stock of foreign subsidiary pledged as collateral for borrowings (as a percent)

65%

Letter of Credit | Credit Agreement

Debt Instrument [Line Items]

Line of credit facility, maximum borrowing capacity

400,000,000

400,000,000

Senior secured term loans | Secured Debt | Original Term Loan

Debt Instrument [Line Items]

Face amount of debt

$ 400,000,000

Loss on early extinguishment of debt

$ (100,000)

$ (700,000)

Prepaid debt, prior to maturity date

$ 23,000,000

83,000,000

Senior secured term loans | Secured Debt | 2019 Term Loan

Debt Instrument [Line Items]

Face amount of debt

$ 200,000,000

Loss on early extinguishment of debt

$ (2,100,000)

Senior secured term loans | Secured Debt | Credit Agreement

Debt Instrument [Line Items]

Face amount of debt

$ 600,000,000

Line of Credit | Credit Agreement

Debt Instrument [Line Items]

Incremental borrowing capacity

$ 300,000,000

Line of Credit | Revolving Credit Facility | Amendment And Restatement Agreement

Debt Instrument [Line Items]

Loss on early extinguishment of debt

$ (2,400,000)

Increase (decrease) in interest rate

(0.025%)

Line of Credit | Revolving Credit Facility | Credit Agreement

Debt Instrument [Line Items]

Available borrowing capacity

$ 600,000,000

$ 600,000,000

Springing covenant threshold

30%

Debt instrument covenant minimum interest coverage ratio

2.5

Debt instrument covenant senior secured debt leverage ratio maximum

2.75

Debt, weighted average interest rate

4.01%

4.01%

Line of credit

$ 173,700,000

$ 173,700,000

$ 0

Line of Credit | Letter of Credit | Additional Credit Agreement

Debt Instrument [Line Items]

Letters of credit maximum available under additional facilities

$ 300,000,000

Line of Credit | Secured Debt | Original Term Loan

Debt Instrument [Line Items]

Long-term debt

54,900,000

54,900,000

Line of Credit | Secured Debt | Credit Agreement

Debt Instrument [Line Items]

Long-term debt

$ 54,900,000

$ 54,900,000

$ 77,800,000

Debt, weighted average interest rate

4.67%

4.67%

2.75%

Line of Credit | LIBOR | Secured Debt | 2019 Term Loan

Debt Instrument [Line Items]

Basis spread on variable rate

2.75%

Floor interest rate

0.75%

Line of Credit | LIBOR | Secured Debt | Credit Agreement

Debt Instrument [Line Items]

Basis spread on variable rate

2%

Floor interest rate

0.75%

LONG-TERM OBLIGATIONS - Schedul

LONG-TERM OBLIGATIONS - Schedule of Letters of Credit Outstanding (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Letters of credit outstanding, amount	$ 114.3	$ 107.8
$400 Million Facility
Debt Instrument [Line Items]
Letters of credit outstanding, amount	0	0
$300 Million Facility
Debt Instrument [Line Items]
Letters of credit outstanding, amount	68	62.8
Bilateral Arrangements
Debt Instrument [Line Items]
Letters of credit outstanding, amount	$ 46.3	$ 45

LONG-TERM OBLIGATIONS - 5-5_8%

LONG-TERM OBLIGATIONS - 5-5/8% Senior Notes (Details) - USD ($)		3 Months Ended		9 Months Ended
	Apr. 05, 2021	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Jan. 31, 2017
Debt Instrument [Line Items]
Loss on early extinguishment of debt		$ 0	$ 0	$ (100,000)	$ (27,700,000)
Senior Notes | 5-5/8% Notes
Debt Instrument [Line Items]
Face amount of debt						$ 600,000,000
Repayments of Senior Debt	$ 622,900,000
Redemption Premium	16,900,000
Debt Instrument, Increase, Accrued Interest	6,000,000
Loss on early extinguishment of debt	$ (22,500,000)
Interest rate (as a percent)						5.625%

LONG-TERM OBLIGATIONS - 5% Seni

LONG-TERM OBLIGATIONS - 5% Senior Notes (Details) - 5% Notes - Senior Notes	Apr. 01, 2021 USD ($)
Debt Disclosure [Abstract]
Face amount of debt	$ 600,000,000
Debt Instrument [Line Items]
Face amount of debt	$ 600,000,000
Interest rate (as a percent)	5%

LONG-TERM OBLIGATIONS - Fair Va

LONG-TERM OBLIGATIONS - Fair Value of Debt (Details) - Secured Debt $ in Millions	Sep. 30, 2022 USD ($) $ / shares
Line of Credit | Original Term Loan
Debt Instrument [Line Items]
Book Value	$ 54.9
Line of Credit | Original Term Loan | Fair Value, Inputs, Level 2
Debt Instrument [Line Items]
Fair Value	54.6
Medium-term Notes | 5% Notes
Debt Instrument [Line Items]
Book Value	600
Medium-term Notes | 5% Notes | Fair Value, Inputs, Level 2
Debt Instrument [Line Items]
Fair Value	$ 504
Measurement Input, Quoted Price | Line of Credit | Original Term Loan
Debt Instrument [Line Items]
Quotes | $ / shares	0.99500
Measurement Input, Quoted Price | Medium-term Notes | 5% Notes
Debt Instrument [Line Items]
Quotes | $ / shares	0.84000

RETIREMENT PLANS AND OTHER BE_3

RETIREMENT PLANS AND OTHER BENEFITS (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Other Plans
Components of net periodic cost:
Service cost	$ 0	$ 0	$ 0	$ 0
Interest cost	0.1	0.1	0.1	0.1
Expected return on plan assets	0	0	0	0
Amortization of actuarial (gain) loss	0	0	0	0
Net periodic cost	0.1	0.1	0.1	0.1
U.S. Pension | Pension Plan
Components of net periodic cost:
Service cost	0	0	0	0
Interest cost	0.3	0.2	0.9	0.8
Expected return on plan assets	0	0	0	0
Amortization of actuarial (gain) loss	0.1	0	0.2	0.2
Net periodic cost	0.4	0.2	1.1	1
Non-U.S. Pension | Pension Plan
Components of net periodic cost:
Service cost	0.2	0.2	0.6	0.7
Interest cost	0.5	0.6	1.9	1.8
Expected return on plan assets	(1.1)	(1.3)	(3.8)	(4.2)
Amortization of actuarial (gain) loss	0.2	0.6	0.9	1.8
Net periodic cost	$ (0.2)	$ 0.1	$ (0.4)	$ 0.1

LITIGATION AND CONTINGENCIES (D

LITIGATION AND CONTINGENCIES (Details) R$ in Millions, $ in Millions	9 Months Ended
	Sep. 30, 2022 BRL (R$)	Sep. 30, 2022 USD ($)	Dec. 31, 2021 USD ($)
Loss Contingencies and Guarantee Obligations
Estimated ICMS and related interest	R$ 107	$ 20
Guarantee terms maximum	5 years
Allowance for credit losses on guarantees		7.3	$ 6.3
Credit Guarantee
Loss Contingencies and Guarantee Obligations
Guarantees, maximum exposure		$ 120.7	$ 143.5

STOCKHOLDERS' EQUITY - Accumula

STOCKHOLDERS' EQUITY - Accumulated Other Comprehensive Income (Loss) Rollforward (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	$ (320.9)	$ (200)	$ (228.5)	$ (208.4)
Other comprehensive income (loss) before reclassifications	(81)	(24.7)	(167.9)	(16.6)
Amounts reclassified from AOCI	0.6	(4.6)	(4.9)	(4.3)
Net other comprehensive income (loss)	(80.4)	(29.3)	(172.8)	(20.9)
Ending balance	(401.3)	(229.3)	(401.3)	(229.3)
CTA
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(278.9)	(156.6)	(188)	(145.2)
Other comprehensive income (loss) before reclassifications	(80.8)	(27.1)	(171.3)	(38.5)
Amounts reclassified from AOCI			(0.4)
Net other comprehensive income (loss)	(80.8)	(27.1)	(171.7)	(38.5)
Ending balance	(359.7)	(183.7)	(359.7)	(183.7)
Derivative Hedging Adj.
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	0.8	13.7	4	(6)
Other comprehensive income (loss) before reclassifications	(2.1)	1.1	0.5	21.6
Amounts reclassified from AOCI	0.3	(5)	(5.5)	(5.8)
Net other comprehensive income (loss)	(1.8)	(3.9)	(5)	15.8
Ending balance	(1)	9.8	(1)	9.8
Debt & Equity Securities Adj.
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(2.9)	0.6	0	1.2
Other comprehensive income (loss) before reclassifications	(1)	(0.2)	(3.9)	(0.8)
Net other comprehensive income (loss)	(1)	(0.2)	(3.9)	(0.8)
Ending balance	(3.9)	0.4	(3.9)	0.4
Pension Liability Adj.
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(39.9)	(57.7)	(44.5)	(58.4)
Other comprehensive income (loss) before reclassifications	2.9	1.5	6.8	1.1
Amounts reclassified from AOCI	0.3	0.4	1	1.5
Net other comprehensive income (loss)	3.2	1.9	7.8	2.6
Ending balance	$ (36.7)	$ (55.8)	$ (36.7)	$ (55.8)

STOCKHOLDERS' EQUITY - Stock-Ba

STOCKHOLDERS' EQUITY - Stock-Based Compensation (Details) - $ / shares shares in Millions		9 Months Ended
	Mar. 17, 2022	Sep. 30, 2022
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)		0.7
Granted (in dollars per shares)		$ 40.33
Restricted Stock, Time-based
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of awards		58%
Award vesting period		3 years
Restricted Stock, Time-based | Tranche 1
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage		33.33%
Restricted Stock, Time-based | Tranche 2
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage		33.33%
Restricted Stock, Time-based | Tranche 3
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage		33.33%
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of awards		28%
Award vesting period		3 years
Performance Shares | Tranche 1
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage		100%
Market Condition Award
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of awards		14%
Award vesting period		3 years
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Dividend yields (as a percent)	1.31%
Expected volatility (as a percent)	54.25%
Risk-free interest rate (as a percent)	2.09%
Expected life (in years)	3 years
Market Condition Award | Tranche 1
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage		100%
Market Condition Award | March 8, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in dollars per shares)	$ 44.25

STOCKHOLDERS' EQUITY - Share Re

STOCKHOLDERS' EQUITY - Share Repurchases and Dividends (Details) - USD ($)	1 Months Ended	3 Months Ended						9 Months Ended
	Oct. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2022	Sep. 30, 2021	Jul. 12, 2018
Stock repurchase program, authorized amount										$ 300,000,000
Treasury stock acquired, cost method		$ 13,600,000	$ 64,300,000	$ 19,800,000	$ 200,000	$ 1,400,000	$ 300,000
Dividends declared (in dollars per share)		$ 0.13	$ 0.13	$ 0.13	$ 0.12	$ 0.12	$ 0.12
Dividends paid (in dollars per share)		$ 0.13	$ 0.13	$ 0.13	$ 0.12	$ 0.12	$ 0.12
Subsequent Event
Dividends declared (in dollars per share)	$ 0.13
Dividends paid (in dollars per share)	$ 0.13
Share repurchase program approved by Board of Directors
Treasury stock acquired (in shares)								2,747,751	0
Treasury stock acquired, cost method								$ 92,900,000	$ 0