Business Segment Information

3 Months Ended

Dec. 31, 2012

Segment Reporting [Abstract]

Business Segment Information

Business Segment Information

The Company is organized into four reportable segments based on the internal organization used by management for making operating decisions and measuring performance and based on the similarity of customers served, common management, common use of facilities and economic results attained.

In accordance with FASB ASC Topic 280, Segment Reporting, for purposes of business segment performance measurement, the Company does not allocate to individual business segments costs or items that are of a non-operating nature or organizational or functional expenses of a corporate nature. The caption “Corporate” includes corporate office expenses, share-based compensation, costs of certain business initiatives and shared services benefiting multiple segments and results of insignificant operations. Identifiable assets of the business segments exclude general corporate assets, which principally consist of cash and cash equivalents, certain property, plant and equipment and certain other assets pertaining to corporate activities. Intersegment sales generally include amounts invoiced by a segment for work performed for another segment. Amounts are based on actual work performed and agreed-upon pricing which is intended to be reflective of the contribution made by the supplying business segment.

Selected financial information concerning the Company’s reportable segments and product lines is as follows (in millions):

	Three Months Ended December 31,
	2012								2011
	External Customers		Inter- segment			Net Sales			External Customers		Inter- segment			Net Sales
Access equipment
Aerial work platforms	$	252.2	$	—		$	252.2		$	252.9	$	—		$	252.9
Telehandlers	206.9		—			206.9			148.4		—			148.4
Other (a)	122.1		0.1			122.2			103.8		122.6			226.4
Total access equipment	581.2		0.1			581.3			505.1		122.6			627.7
Defense	827.8		0.9			828.7			1,050.2		0.8			1,051.0
Fire & emergency	182.6		10.7			193.3			155.4		4.7			160.1
Commercial
Concrete placement	63.3		—			63.3			46.7		—			46.7
Refuse collection	80.8		—			80.8			95.3		—			95.3
Other	25.3		7.9			33.2			23.0		6.6			29.6
Total commercial	169.4		7.9			177.3			165.0		6.6			171.6
Intersegment eliminations	—		(19.6		)	(19.6		)	—		(134.7		)	(134.7		)
Consolidated	$	1,761.0	$	—		$	1,761.0		$	1,875.7	$	—		$	1,875.7

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(a) Access equipment intersegment sales are comprised of assembly of Mine Resistant Ambush Protected All-Terrain Vehicle crew capsules and complete vehicles for the defense segment. The access equipment segment invoices the defense segment for this work. These sales are eliminated in consolidation.

	Three Months Ended December 31,
	2012			2011
Operating income (loss) from continuing operations:
Access equipment	$	48.9		$	13.1
Defense	60.9			92.4
Fire & emergency	5.8			(9.9		)
Commercial	8.0			6.9
Corporate	(42.7		)	(27.1		)
Intersegment eliminations	(0.1		)	—
Consolidated	80.8			75.4
Interest expense net of interest income	(14.2		)	(20.0		)
Miscellaneous other income (expense)	0.3			(5.6		)
Income from continuing operations before income taxes and equity in earnings of unconsolidated affiliates	$	66.9		$	49.8

	December 31,		September 30,
	2012		2012
Identifiable assets:
Access equipment:
U.S.	$	1,634.5	$	1,754.6
Europe (a)	676.0		684.2
Rest of the world	258.8		283.1
Total access equipment	2,569.3		2,721.9
Defense - U.S.	591.2		684.5
Fire & emergency - U.S.	509.1		534.0
Commercial:
U.S.	313.6		304.5
Rest of the world (a)	33.8		37.0
Total commercial	347.4		341.5
Corporate:
U.S. (b)	581.0		658.1
Rest of the world	5.9		7.8
Total corporate	586.9		665.9
Consolidated	$	4,603.9	$	4,947.8

_________________________

(a) Includes investments in unconsolidated affiliates.

(b) Primarily includes cash and short-term investments.

The following table presents net sales by geographic region based on product shipment destination (in millions):

	Three Months Ended December 31,
	2012		2011
Net sales:
United States	$	1,455.5	$	1,511.4
Other North America	57.5		52.9
Europe, Africa and Middle East	131.8		196.2
Rest of the world	116.2		115.2
Consolidated	$	1,761.0	$	1,875.7