Terex is a global manufacturer of aerial work platforms, materials processing machinery and cranes. The Company designs, builds and supports products used in construction, maintenance, manufacturing, energy, minerals and materials management applications. Terex’s products are manufactured in North and South America, Europe, Australia and Asia and sold worldwide. The Company engages with customers through all stages of the product life cycle, from initial specification and financing to parts and service support. The Company operates in two reportable segments: (i) AWP and (ii) MP.

The AWP segment designs, manufactures, services and markets aerial work platform equipment, telehandlers, light towers and utility equipment 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 MP segment designs, manufactures and markets materials processing and specialty equipment, including crushers, washing systems, screens, apron feeders, material handlers, pick and carry 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, and in building roads and bridges.

The Company designs, manufactures, services, refurbishes and markets rough terrain and tower cranes, as well as their related components and replacement parts. Customers use rough terrain cranes to move materials and equipment on rugged or uneven terrain and tower cranes, often in urban areas where space is constrained and in long-term or high-rise building sites, to lift construction material and place the material at point of use. Rough terrain and tower cranes are included in Corporate and Other.

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 provide financing solutions to customers who purchase the Company’s equipment. TFS is included in Corporate and Other.

Corporate and Other also includes eliminations among the two segments, various construction product lines, as well as general and corporate items.



	Year Ended December 31,
	2019			2018			2017
Net sales
AWP	$	2,726.6		$	2,950.4		$	2,433.2
MP	1,371.4			1,322.6			1,119.8
Corporate and Other / Eliminations	255.1			244.2			240.7
Total	$	4,353.1		$	4,517.2		$	3,793.7
Income (loss) from operations
AWP	$	196.2		$	300.5		$	199.8
MP	196.8			176.0			125.1
Corporate and Other / Eliminations	(58.0		)	(64.0		)	(96.7		)
Total	$	335.0		$	412.5		$	228.2
Depreciation and amortization
AWP	$	23.0		$	20.9		$	23.2
MP	7.7			7.6			8.0
Corporate	15.7			16.8			21.8
Total	$	46.4		$	45.3		$	53.0
Capital expenditures
AWP	$	82.1		$	49.7		$	15.6
MP	11.5			33.1			6.7
Corporate	11.9			8.2			9.4
Total	$	105.5		$	91.0		$	31.7

Sales between segments are generally priced to recover costs plus a reasonable markup for profit, which is eliminated in consolidation.



	December 31,
	2019		2018
Identifiable assets
AWP	$	1,814.4	$	1,983.5
MP	1,172.1		1,160.1
Corporate and Other / Eliminations ⁽¹⁾	199.3		(185.6		)
Assets held for sale ⁽²⁾	9.8		527.9
Total	$	3,195.6	$	3,485.9

⁽¹⁾Increase primarily due to cash from the sales of Demag and ASV Holdings, Inc. shares, Section 301 tariff receivables and recognition of ROU assets.

⁽²⁾Decrease in assets from the sale of Demag. See Note D - “Discontinued Operations and Assets and Liabilities Held For Sale”.



	December 31,
	2019		2018
Long-lived Assets
United States	$	246.8	$	193.1
United Kingdom	69.0		61.4
Germany	11.0		10.7
Other European countries	21.6		18.6
All other	41.0		33.5
Total	$	389.4	$	317.3



	Year Ended December 31, 2019
	AWP		MP		Corporate and Other / Eliminations			Total
Net sales by region
North America	$	1,801.8	$	535.2	$	146.9		$	2,483.9
Western Europe	431.1		418.0		96.8			945.9
Asia-Pacific	325.1		288.5		15.0			628.6
Rest of World ⁽¹⁾	168.6		129.7		(3.6		)	294.7
Total ⁽²⁾	$	2,726.6	$	1,371.4	$	255.1		$	4,353.1



	Year Ended December 31, 2018
	AWP		MP		Corporate and Other / Eliminations		Total
Net sales by region
North America	$	1,985.2	$	518.5	$	135.8	$	2,639.5
Western Europe	530.5		382.0		75.4		987.9
Asia-Pacific	274.8		269.6		30.8		575.2
Rest of World⁽¹⁾	159.9		152.5		2.2		314.6
Total ⁽²⁾	$	2,950.4	$	1,322.6	$	244.2	$	4,517.2



	Year Ended December 31, 2017
	AWP		MP		Corporate and Other / Eliminations			Total
Net sales by region
North America	$	1,570.7	$	507.1	$	143.9		$	2,221.7
Western Europe	404.2		282.7		92.1			779.0
Asia-Pacific	265.0		204.8		37.2			507.0
Rest of World ⁽¹⁾	193.3		125.2		(32.5		)	286.0
Total ⁽²⁾	$	2,433.2	$	1,119.8	$	240.7		$	3,793.7



	Year Ended December 31, 2019
	AWP		MP		Corporate and Other / Eliminations		Total
Net sales by product type
Aerial Work Platforms	$	1,912.1	$	—	$	2.8	$	1,914.9
Materials Processing Equipment	—		895.4		—		895.4
Specialty Equipment	—		473.3		—		473.3
Other ⁽¹⁾	814.5		2.7		252.3		1,069.5
Total	$	2,726.6	$	1,371.4	$	255.1	$	4,353.1



	Year Ended December 31, 2018
	AWP		MP		Corporate and Other / Eliminations		Total
Net sales by product type
Aerial Work Platforms	$	2,128.6	$	—	$	3.5	$	2,132.1
Materials Processing Equipment	—		877.0		—		877.0
Specialty Equipment	—		421.1		—		421.1
Other ⁽¹⁾	821.8		24.5		240.7		1,087.0
Total	$	2,950.4	$	1,322.6	$	244.2	$	4,517.2



	Year Ended December 31, 2017
	AWP		MP		Corporate and Other / Eliminations		Total
Net sales by product type
Aerial Work Platforms	$	1,718.0	$	—	$	2.7	$	1,720.7
Materials Processing Equipment	—		726.9		0.6		727.5
Specialty Equipment	—		376.3		—		376.3
Other ⁽¹⁾	715.2		16.6		204.1		935.9
Compact Construction Equipment ⁽²⁾	—		—		33.3		33.3
Total	$	2,433.2	$	1,119.8	$	240.7	$	3,793.7