Business Segment Information

3 Months Ended

Dec. 31, 2016

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 or operations benefiting multiple segments, including start-up costs related to a shared manufacturing facility in Mexico, 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,
	2016								2015
	External Customers		Inter- segment			Net Sales			External Customers		Inter- segment			Net Sales
Access equipment
Aerial work platforms	$	233.7	$	—		$	233.7		$	242.0	$	—		$	242.0
Telehandlers	93.3		—			93.3			111.8		—			111.8
Other	162.2		—			162.2			176.0		—			176.0
Total access equipment	489.2		—			489.2			529.8		—			529.8
Defense	294.2		0.3			294.5			316.9		1.1			318.0
Fire & emergency	229.1		3.4			232.5			205.4		2.1			207.5
Commercial
Concrete placement	84.4		—			84.4			72.3		—			72.3
Refuse collection	92.2		—			92.2			99.0		—			99.0
Other	21.5		1.1			22.6			28.6		0.4			29.0
Total commercial	198.1		1.1			199.2			199.9		0.4			200.3
Corporate and intersegment eliminations	0.8		(4.8		)	(4.0		)	—		(3.6		)	(3.6		)
Consolidated	$	1,211.4	$	—		$	1,211.4		$	1,252.0	$	—		$	1,252.0

	Three Months Ended   December 31,
	2016			2015
Operating income (loss):
Access equipment	$	24.4		$	20.4
Defense	23.8			23.2
Fire & emergency	17.0			10.1
Commercial	4.6			8.9
Corporate	(33.6		)	(32.3		)
Intersegment eliminations	—			—
Consolidated	36.2			30.3
Interest expense, net of interest income	(13.9		)	(14.1		)
Miscellaneous other income	1.3			—
Income before income taxes and equity in earnings of unconsolidated affiliates	$	23.6		$	16.2

	December 31,		September 30,
	2016		2016
Identifiable assets:
Access equipment:
U.S.	$	1,783.6	$	1,856.0
Europe (a)	483.7		521.5
Rest of the World	196.0		193.7
Total access equipment	2,463.3		2,571.2
Defense:
U.S.	568.5		522.2
Rest of the World	2.6		3.0
Total defense	571.1		525.2
Fire & emergency - U.S.	518.5		522.7
Commercial:
U.S.	355.1		358.4
Rest of the World (a)	31.3		33.4
Total commercial	386.4		391.8
Corporate:
U.S. (b)	457.1		408.3
Rest of the world (c)	94.6		94.6
Total corporate	551.7		502.9
Consolidated	$	4,491.0	$	4,513.8

_________________________

^(a)  Includes investments in unconsolidated affiliates.

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

^(c)  Includes a corporate-led manufacturing facility that supports multiple operating segments.

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

	Three Months Ended December 31,
	2016		2015
Net sales:
United States	$	1,018.3	$	904.4
Other North America	35.7		61.5
Europe, Africa and Middle East	71.6		200.1
Rest of the World	85.8		86.0
Consolidated	$	1,211.4	$	1,252.0