Business Segment Information

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

Business Segment Information

23. Business Segment Information

The Company is organized into four reportable segments based on the internal organization used by the Chief Executive Officer for making operating decisions and measuring performance and based on the similarity of customers served, common management, common use of facilities and economic results attained. The Company’s segments are as follows:

Access Equipment: This segment consists of JLG and JerrDan. JLG designs and manufactures aerial work platforms and telehandlers that are sold worldwide for use in a wide variety of construction, industrial, institutional and general maintenance applications to position workers and materials at elevated heights. Access Equipment customers include equipment rental companies, construction contractors, manufacturing companies and home improvement centers. JerrDan designs, manufactures and markets towing and recovery equipment in the U.S. and abroad.

Defense: This segment consists of Oshkosh Defense, Pratt Miller and snow removal vehicles for military and civilian airports. These business units design and manufacture tactical wheeled vehicles and supply parts and services for the U.S. military and for other militaries around the world, as well as offer engineering and product development services primarily to customers in the motorsports and multiple ground vehicle markets. Sales to the DoD accounted for 95% of the segment’s sales in fiscal 2022, 93% of the segment’s sales in the three months ended December 31, 2021, 95% of the segment’s sales in the year ended September 30, 2021 and 96% of the segment’s sales in the year ended September 30, 2020.

Fire & Emergency: This segment includes Pierce, Airport Products, Maxi-Metal and Kewaunee. These business units design, manufacture and market commercial and custom fire vehicles, simulators and emergency vehicles primarily for fire departments, airports and other governmental units, and broadcast vehicles for broadcasters and TV stations in the U.S. and abroad.

Commercial: This segment includes McNeilus, London, IMT and Oshkosh Commercial. McNeilus and London design, manufacture, market and distribute refuse collection vehicles and components. McNeilus, London and Oshkosh Commercial also design, manufacture, market and distribute concrete mixer vehicles and components. IMT is a designer and manufacturer of field service vehicles and truck-mounted cranes for niche markets. Sales are made primarily to commercial and municipal customers in the Americas.

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, 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. The accounting policies of the reportable segments are the same as those described in Note 2 of the Notes to Consolidated Financial Statements.

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

	Year Ended December 31, 2022								Three Months Ended December 31, 2021 (transition period)
	External Customers		Inter- segment			Net Sales			External Customers		Inter- segment			Net Sales
Net sales:
Access Equipment
Aerial work platforms	$	1,949.0	$	—		$	1,949.0		$	415.3	$	—		$	415.3
Telehandlers		1,174.8		—			1,174.8			210.6		—			210.6
Other		848.1		0.2			848.3			207.4		0.2			207.6
Total Access Equipment		3,971.9		0.2			3,972.1			833.3		0.2			833.5
Defense		2,139.9		1.4			2,141.3			531.1		0.4			531.5
Fire & Emergency		1,108.2		3.4			1,111.6			217.0		1.6			218.6
Commercial
Refuse collection		536.4		—			536.4			98.2		—			98.2
Concrete mixers		419.2		—			419.2			88.8		—			88.8
Other		106.2		2.3			108.5			23.2		0.4			23.6
Total Commercial		1,061.8		2.3			1,064.1			210.2		0.4			210.6
Corporate and intersegment eliminations		0.2		(7.3	)		(7.1	)		0.1		(2.6	)		(2.5	)
Consolidated	$	8,282.0	$	—		$	8,282.0		$	1,791.7	$	—		$	1,791.7

	Year Ended September 30,
	2021								2020
	External Customers		Inter- segment			Net Sales			External Customers		Inter- segment			Net Sales
Net sales:
Access Equipment
Aerial work platforms	$	1,471.4	$	—		$	1,471.4		$	1,101.7	$	—		$	1,101.7
Telehandlers		769.4		—			769.4			680.4		—			680.4
Other		826.5		4.8			831.3			723.6		9.4			733.0
Total Access Equipment		3,067.3		4.8			3,072.1			2,505.7		9.4			2,515.1
Defense		2,524.1		1.5			2,525.6			2,300.4		11.1			2,311.5
Fire & Emergency		1,211.6		15.0			1,226.6			1,098.0		9.0			1,107.0
Commercial
Refuse collection		465.9		—			465.9			437.2		—			437.2
Concrete mixers		364.8		—			364.8			403.5		—			403.5
Other		102.9		4.0			106.9			110.6		6.5			117.1
Total Commercial		933.6		4.0			937.6			951.3		6.5			957.8
Corporate and intersegment eliminations		0.7		(25.3	)		(24.6	)		1.4		(36.0	)		(34.6	)
Consolidated	$	7,737.3	$	—		$	7,737.3		$	6,856.8	$	—		$	6,856.8

	Year Ended December 31,			Three Months Ended December 31, (transition period)			Year Ended September 30,
	2022			2021			2021			2020
Operating income (loss):
Access Equipment (a)	$	313.2		$	38.2		$	278.2		$	198.2
Defense (b)		46.2			16.0			200.7			186.2
Fire & Emergency		94.9			15.9			178.9			147.1
Commercial (c)		59.5			2.4			81.7			79.0
Corporate		(141.5	)		(30.9	)		(147.4	)		(125.7	)
Consolidated		372.3			41.6			592.1			484.8
Interest expense, net of interest income (d)		(43.9	)		(11.8	)		(44.7	)		(51.8	)
Miscellaneous other (expense) income (e)		(52.8	)		(5.6	)		(2.1	)		2.2
Income before income taxes and losses of unconsolidated affiliates	$	275.6		$	24.2		$	545.3		$	435.2

(a)Results for fiscal 2022 include expense of $4.6 million to eliminate cumulative translation adjustments upon liquidation of foreign entities and $2.2 million of restructuring costs. Results for the year ended September 30, 2021 include $3.1 million of restructuring costs and $7.4 million operating expenses related to restructuring plans. Results for the year ended September 30, 2020 include $10.4 million of restructuring costs and $4.7 million operating expenses related to restructuring plans.

(b)Results for fiscal 2022 include a $5.6 million intangible asset impairment charge.

(c)Results for fiscal 2022 include a $2.1 million intangible asset impairment charge. Results for the year ended September 30, 2020 include $1.5 million of restructuring costs, $4.1 million of accelerated depreciation related to restructuring actions, a gain of $12.3 million arising from a business interruption insurance recovery and a gain on the sale of a business of $3.1 million.

(d)Results for the year ended September 30, 2020 include $8.5 million in debt extinguishment costs and $3.3 million of interest income from an arbitration settlement in the Defense segment.

(e)Results for fiscal 2022 include a $33.6 million charge from the settlement of a frozen pension plan. Results for the year ended September 30, 2020 include a $6.2 million gain from insurance proceeds in excess of property loss in the Commercial segment.

	Year Ended December 31,		Three Months Ended December 31, (transition period)		Year Ended September 30,
	2022		2021		2021		2020
Depreciation and amortization:
Access Equipment (a)	$	37.4	$	9.1	$	37.9	$	42.1
Defense		29.9		7.9		27.8		20.1
Fire & Emergency		11.5		2.7		10.0		10.0
Commercial (b)		13.8		3.2		13.1		17.1
Corporate		15.0		4.1		15.2		14.9
Consolidated	$	107.6	$	27.0	$	104.0	$	104.2
Capital expenditures:
Access Equipment (c)	$	65.7	$	17.2	$	55.8	$	56.5
Defense		168.2		12.1		23.8		32.4
Fire & Emergency		30.8		6.5		8.1		6.7
Commercial		11.4		6.4		21.3		18.9
Corporate		3.6		1.0		5.8		15.7
Consolidated	$	279.7	$	43.2	$	114.8	$	130.2

(a)Includes $3.6 million and $2.8 million of accelerated depreciation associated with restructuring actions in the years ended September 30, 2021 and 2020, respectively.

(b)Includes $4.1 million of accelerated depreciation associated with restructuring actions in the year ended September 30, 2020.

(c)Capital expenditures include both the purchase of property, plant and equipment and equipment held for rental.

	December 31,				September 30,
	2022		2021		2021
Identifiable assets:
Access Equipment:
U.S.	$	2,493.0	$	2,348.8	$	2,234.0
Europe, Africa and Middle East		562.2		460.3		470.9
Rest of the world		428.4		383.0		371.4
Total Access Equipment		3,483.6		3,192.1		3,076.3
Defense:
U.S.		2,060.0		1,259.0		1,189.0
Rest of the world		6.9		7.2		7.2
Total Defense		2,066.9		1,266.2		1,196.2
Fire & Emergency - U.S.
U.S.		586.7		532.7		558.7
Rest of the World		25.5		—		—
Total Fire & Emergency		612.2		532.7		558.7
Commercial:
U.S.		476.7		415.0		418.9
Rest of the world		39.1		45.1		54.8
Total Commercial		515.8		460.1		473.7
Corporate - U.S. (a)		1,050.5		1,398.6		1,730.8
Consolidated	$	7,729.0	$	6,849.7	$	7,035.7

(a)Primarily includes cash and short-term investments and the Company’s global headquarters.

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

	Year Ended December 31, 2022
	Access Equipment		Defense		Fire & Emergency		Commercial		Eliminations			Total
Net sales:
North America	$	3,298.9	$	2,047.5	$	1,075.6	$	1,053.3	$	(7.1	)	$	7,468.2
Europe, Africa and Middle East		353.0		92.7		7.4		2.1		—			455.2
Rest of the World		320.2		1.1		28.6		8.7		—			358.6
Consolidated	$	3,972.1	$	2,141.3	$	1,111.6	$	1,064.1	$	(7.1	)	$	8,282.0

	Three Months Ended December 31, 2021 (transition period)
	Access Equipment		Defense		Fire & Emergency		Commercial		Eliminations			Total
Net sales:
North America	$	671.6	$	523.4	$	211.9	$	206.9	$	(2.5	)	$	1,611.3
Europe, Africa and Middle East		86.1		8.0		4.1		0.8		—			99.0
Rest of the World		75.8		0.1		2.6		2.9		—			81.4
Consolidated	$	833.5	$	531.5	$	218.6	$	210.6	$	(2.5	)	$	1,791.7

	Year Ended September 30, 2021
	Access Equipment		Defense		Fire & Emergency		Commercial		Eliminations			Total
Net sales:
North America	$	2,358.9	$	2,337.8	$	1,147.4	$	929.0	$	(24.6	)	$	6,748.5
Europe, Africa and Middle East		273.4		183.2		46.7		1.5		—			504.8
Rest of the World		439.8		4.6		32.5		7.1		—			484.0
Consolidated	$	3,072.1	$	2,525.6	$	1,226.6	$	937.6	$	(24.6	)	$	7,737.3

	Year Ended September 30, 2020
	Access Equipment		Defense		Fire & Emergency		Commercial		Eliminations			Total
Net sales:
North America	$	1,881.6	$	2,200.4	$	1,029.3	$	947.0	$	(34.6	)	$	6,023.7
Europe, Africa and Middle East		275.3		107.0		29.8		1.6		—			413.7
Rest of the World		358.2		4.1		47.9		9.2		—			419.4
Consolidated	$	2,515.1	$	2,311.5	$	1,107.0	$	957.8	$	(34.6	)	$	6,856.8