XML 93 R86.htm IDEA: XBRL DOCUMENT v3.25.2
Business Segment Information - Schedule of Income (Loss) from Continuing Operations by Reportable Segment (Details) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Segment Reporting Information [Line Items]        
Net sales $ 2,732.1 $ 2,846.9 $ 5,044.9 $ 5,390.7
Cost of sales (excluding R&D) 2,162.6 2,256.7 4,026.7 4,291.2
Research and development 45.0 44.1 93.8 83.4
Gross income 524.5 546.1 924.4 1,016.1
Employee compensation 130.7 131.1 253.2 249.3
Amortization of purchased intangibles 13.8 13.6 27.3 27.1
Intangible asset impairment 5.7 51.6 5.7 51.6
Other segment items 82.6 [1] 88.9 [2] 171.1 [3] 167.5 [4]
Operating income 291.7 260.9 467.1 520.6
Interest expense, net of interest income (28.1) (30.3) (53.1) (51.1)
Miscellaneous, net 7.3 (1.5) 7.8 (3.5)
Income before income taxes and losses of unconsolidated affiliates 270.9 229.1 421.8 466.0
Operating Segments        
Segment Reporting Information [Line Items]        
Net sales 2,732.1 2,846.9 5,044.9 5,390.7
Operating Segments | Access Segment        
Segment Reporting Information [Line Items]        
Net sales 1,256.0 1,406.9 2,213.1 2,644.4
Cost of sales (excluding R&D) 972.2 1,059.4 1,721.9 2,000.9
Research and development 22.0 21.5 43.3 38.9
Gross income 261.8 326.0 447.9 604.6
Employee compensation 40.7 41.7 81.7 79.7
Amortization of purchased intangibles 3.6 2.3 7.0 4.6
Intangible asset impairment 0.0 0.0 0.0 0.0
Other segment items 35.9 [1] 35.5 [2] 74.5 [3] 65.7 [4]
Operating income 181.6 246.5 284.7 454.6
Operating Segments | Vocational Segment        
Segment Reporting Information [Line Items]        
Net sales 969.7 843.1 1,836.5 1,615.5
Cost of sales (excluding R&D) 735.5 649.8 1,391.1 1,260.9
Research and development 13.8 10.9 32.0 21.7
Gross income 220.4 182.4 413.4 332.9
Employee compensation 35.0 32.0 69.3 63.9
Amortization of purchased intangibles 9.4 9.9 18.8 19.8
Intangible asset impairment 0.0 0.0 0.0 0.0
Other segment items 28.7 [1] 34.0 [2] 60.2 [3] 62.6 [4]
Operating income 147.3 106.5 265.1 186.6
Operating Segments | Transport Segment        
Segment Reporting Information [Line Items]        
Net sales 479.1 571.9 [5] 942.1 1,081.0 [5]
Cost of sales (excluding R&D) 434.0 528.1 [6] 868.8 988.3 [7]
Research and development 1.2 6.0 [6] 3.7 13.3 [7]
Gross income 43.9 37.8 [6] 69.6 79.4 [7]
Employee compensation 14.0 13.5 [6] 26.9 27.9 [7]
Amortization of purchased intangibles 0.0 0.0 [6] 0.0 0.0 [7]
Intangible asset impairment 0.0 0.0 [6] 0.0 0.0 [7]
Other segment items 12.1 [1] 12.4 [2],[6] 24.3 [3] 26.3 [4],[7]
Operating income 17.8 11.9 18.4 25.2
Operating Segments | Corporate and Other        
Segment Reporting Information [Line Items]        
Net sales [8] 27.3 25.0 [5] 53.2 49.8 [5]
Cost of sales (excluding R&D) 20.9 19.4 [6] 44.9 41.1 [7]
Research and development 8.0 5.7 [6] 14.8 9.5 [7]
Gross income (1.6) (0.1) [6] (6.5) (0.8) [7]
Employee compensation 41.0 43.9 [6] 75.3 77.8 [7]
Amortization of purchased intangibles 0.8 1.4 [6] 1.5 2.7 [7]
Intangible asset impairment 5.7 51.6 [6] 5.7 51.6 [7]
Other segment items 5.9 [1] 7.0 [2],[6] 12.1 [3] 12.9 [4],[7]
Operating income $ (55.0) $ (104.0) $ (101.1) $ (145.8)
[1] Includes outside services and consulting, software and information technology, travel, office expenses, depreciation, advertising, lease expense and other miscellaneous SG&A expenses.
[2] Includes outside services and consulting, software and information technology, travel, office expenses, depreciation, advertising, lease expense and other miscellaneous SG&A expenses.
[3] Includes outside services and consulting, software and information technology, travel, office expenses, depreciation, advertising, lease expense and other miscellaneous SG&A expenses.
[4] Includes outside services and consulting, software and information technology, travel, office expenses, depreciation, advertising, lease expense and other miscellaneous SG&A expenses.
[5] Results have been reclassified to reflect the move of Pratt Miller from the Transport segment to Corporate and Other.
[6] Results have been reclassified to reflect the move of Pratt Miller from the Transport segment to Corporate and Other.
[7] Results have been reclassified to reflect the move of Pratt Miller from the Transport segment to Corporate and Other.
[8] Results for 2024 have been reclassified to reflect the move of Pratt Miller from the Transport segment to Corporate and Other.