Oshkosh (OSK) 10-Q27 Apr 232023 Q1 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2023	Apr. 20, 2023
Cover [Abstract]
Document Type	10-Q
Entity Registrant Name	Oshkosh Corporation
Amendment Flag	false
Entity Central Index Key	0000775158
Document Period End Date	Mar. 31, 2023
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Entity Filer Category	Large Accelerated Filer
Document Fiscal Period Focus	Q1
Trading Symbol	OSK
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		65,313,605
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity File Number	1-31371
Entity Tax Identification Number	39-0520270
Entity Address, Address Line One	1917 Four Wheel Drive
Entity Address, City or Town	Oshkosh
Entity Address, State or Province	WI
Entity Address, Postal Zip Code	54902
City Area Code	920
Local Phone Number	502-3400
Security Exchange Name	NYSE
Title of 12(b) Security	Common Stock $0.01 par value
Entity Incorporation, State or Country Code	WI
Document Quarterly Report	true
Document Transition Report	false
Entity Interactive Data Current	Yes

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Income Statement [Abstract]
Net sales	$ 2,268.1	$ 1,945.7
Cost of sales	1,934.3	1,741.9
Gross income	333.8	203.8
Operating expenses:
Selling, general and administrative	199.1	169.2
Amortization of purchased intangibles	3.9	2.8
Total operating expenses	203	172
Operating income	130.8	31.8
Other income (expense):
Interest expense	(13.4)	(12.6)
Interest income	6.2	1
Miscellaneous, net	5.8	1.1
Income before income taxes and losses of unconsolidated affiliates	129.4	21.3
Provision for income taxes	34.2	20.8
Income before losses of unconsolidated affiliates	95.2	0.5
Losses of unconsolidated affiliates	(6.7)	(0.7)
Net income (loss)	$ 88.5	$ (0.2)
Earnings (loss) per share:
Basic	$ 1.35
Diluted	1.34
Cash dividends declared per share on Common Stock	$ 0.41	$ 0.37

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 88.5	$ (0.2)
Other comprehensive income (loss), net of tax:
Employee pension and postretirement benefits	(0.4)	0.4
Currency translation adjustments	11.4	(6.5)
Change in fair value of derivative instruments	(2)	0.8
Total other comprehensive income (loss), net of tax	9	(5.3)
Comprehensive income (loss)	$ 97.5	$ (5.5)

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 538.7	$ 805.9
Receivables, net	1,311.7	1,162
Unbilled receivables, net	554.4	586.3
Inventories	1,905.9	1,865.6
Income taxes receivable	15.8	21.6
Other current assets	87.1	90.7
Total current assets	4,413.6	4,532.1
Property, plant and equipment, net	871.5	826.2
Goodwill	1,129.2	1,042
Purchased intangible assets, net	536.1	457
Deferred income taxes	153.2	134.8
Deferred contract costs	485.9	415.8
Other long-term assets	326.9	321.1
Total assets	7,916.4	7,729
Current liabilities:
Revolving credit facilities and current maturities of long-term debt	2.1	9.7
Accounts payable	1,091.2	1,129
Customer advances	688.9	696.7
Payroll-related obligations	146.9	119.5
Income taxes payable	150.5	100.3
Other current liabilities	379	373.4
Total current liabilities	2,458.6	2,428.6
Long-term debt, less current maturities	595.2	595
Long-term customer advances	1,110.6	1,020.5
Other long-term liabilities	504.8	499.2
Commitments and contingencies
Shareholders’ equity:
Preferred Stock ($0.01 par value; 2,000,000 shares authorized; none issued and outstanding)
Common Stock ($0.01 par value; 300,000,000 shares authorized; 75,101,465 shares issued)	0.7	0.7
Additional paid-in capital	808	806
Retained earnings	3,376.7	3,315
Accumulated other comprehensive loss	(83.3)	(92.3)
Common Stock in treasury, at cost (9,722,694 and 9,629,317 shares, respectively)	(854.9)	(843.7)
Total shareholders’ equity	3,247.2	3,185.7
Total liabilities and shareholders’ equity	$ 7,916.4	$ 7,729

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2023	Dec. 31, 2022
Stockholders' Equity, Number of Shares, Par Value and Other Disclosure [Abstract]
Preferred Stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred Stock, shares authorized	2,000,000	2,000,000
Preferred Stock, shares issued	0	0
Preferred Stock, shares outstanding	0	0
Common Stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common Stock, shares authorized	300,000,000	300,000,000
Common Stock, shares issued	75,101,465	75,101,465
Common Stock in treasury, shares	9,722,694	9,629,317

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) $ in Millions	Total	Common Stock	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Common Stock in Treasury, at Cost
Balance at Dec. 31, 2021	$ 3,204.3	$ 0.7	$ 792.4	$ 3,238.5	$ (128.6)	$ (698.7)
Net income (loss)	(0.2)			(0.2)
Employee pension and postretirement benefits, net of tax	0.4				0.4
Currency translation adjustments	(6.5)				(6.5)
Gain (loss) on derivative instruments, net of tax	0.8				0.8
Cash dividends	(24.5)			(24.5)
Repurchases of Common Stock	(85)					(85)
Exercise of stock options	1.9		(0.2)			2.1
Stock-based compensation expense	6.8		6.8
Payment of stock-based restricted and performance shares			(0.5)			0.5
Shares tendered for taxes on stock-based compensation	(0.4)					(0.4)
Other	0.2		(0.3)			0.5
Balance at Mar. 31, 2022	3,097.8	0.7	798.2	3,213.8	(133.9)	(781)
Balance at Dec. 31, 2022	3,185.7	0.7	806	3,315	(92.3)	(843.7)
Net income (loss)	88.5			88.5
Employee pension and postretirement benefits, net of tax	(0.4)				(0.4)
Currency translation adjustments	11.4				11.4
Gain (loss) on derivative instruments, net of tax	(2)				(2)
Cash dividends	(26.8)			(26.8)
Repurchases of Common Stock	(15.2)					(15.2)
Exercise of stock options	2.5		0.5			2
Stock-based compensation expense	6.8		6.8
Payment of stock-based restricted and performance shares			(4.7)			4.7
Shares tendered for taxes on stock-based compensation	(3.4)					(3.4)
Other	0.1		(0.6)			0.7
Balance at Mar. 31, 2023	$ 3,247.2	$ 0.7	$ 808	$ 3,376.7	$ (83.3)	$ (854.9)

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Statement of Stockholders' Equity [Abstract]
Employee pension and postretirement benefits, tax	$ 0.1	$ (0.1)
Cash dividends declared per share on common stock (in dollars per share)	$ 0.41	$ 0.37

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Operating activities:
Net income (loss)	$ 88.5	$ (0.2)
Depreciation and amortization	30.5	26.4
Stock-based incentive compensation	6.8	6.8
Loss on sale of business, net of tax	11
Deferred income taxes	(26.3)	1.6
Gain on sale of assets	(0.1)	(1)
Foreign currency transaction gains	(0.8)	(1.5)
Other non-cash adjustments	6.9	(0.6)
Changes in operating assets and liabilities	(36.7)	297.4
Net cash provided by operating activities	79.8	328.9
Investing activities:
Additions to property, plant and equipment	(111.5)	(26.1)
Additions to equipment held for rental	(1.2)	(1.9)
Acquisition of business, net of cash acquired	(187.9)
Proceeds from sale of business, net of cash sold	23.1
Proceeds from sale of equipment held for rental	1.6	3.2
Other investing activities	(1.2)	(15.3)
Net cash used in investing activities	(277.1)	(40.1)
Financing activities:
Repayments of debt (original maturities greater than three months)	(25)	(225)
Repurchases of Common Stock	(15.2)	(85)
Dividends paid	(26.8)	(24.5)
Other financing activities	(4.1)	(3.4)
Net cash used in financing activities	(71.1)	(337.9)
Effect of exchange rate changes on cash and cash equivalents	1.2	(2.1)
Decrease in cash and cash equivalents	(267.2)	(51.2)
Cash and cash equivalents at beginning of period	805.9	995.7
Cash and cash equivalents at end of period	538.7	944.5
Supplemental disclosures:
Cash paid for interest	8.4	10.1
Cash paid for income taxes	2.4	5.3
Cash received from income tax refunds	0.9	0.3
Cash paid for operating lease liabilities	12.4	11.5
Operating right-of-use assets obtained	$ 7.8	$ 2.8

Basis of Presentation

Basis of Presentation	3 Months Ended
Basis of Presentation	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	1. Basis of Presentation In the opinion of management, the accompanying unaudited Condensed Consolidated Financial Statements contain all adjustments (which include normal recurring adjustments, unless otherwise noted) necessary to present fairly the financial position, results of operations and cash flows for the periods presented. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles in the United States (U.S. GAAP) have been condensed or omitted pursuant to the rules and regulations of the U.S. Securities and Exchange Commission. These Condensed Consolidated Financial Statements should be read in conjunction with the audited financial statements and notes thereto included in the Annual Report on Form 10-K of Oshkosh Corporation for the year ended December 31, 2022. The interim results are not necessarily indicative of results for any other interim period or for fiscal 2023. Certain reclassifications have been made to the prior period financial statements to conform to the presentation as of and for the three months ended March 31, 2023. Effective January 31, 2023, the Company formed the Vocational segment by combining the historical Fire & Emergency and Commercial segment businesses. All information has been restated to conform to the new reporting segments. On March 1 , 2023, the Company completed the sale of its rear discharge concrete mixer business for $ 32.9 million. As the sale price was below the carrying value of the business, a pre-tax loss of $ 13.3 million was recognized during the three months ended March 31, 2023, which is included in selling, general and administrative expense in the Company’s Condensed Consolidated Statements of Income . During the three months ended March 31, 2023, the rear discharge concrete mixer business, which was included in the Vocational segment, had sales of $ 25.9 million. On January 31, 2023, the Company acquired Hinowa S.p.A. (Hinowa), an Italian manufacture of compact crawler booms and tracked equipment, for € 171.9 million ($ 186.9 million), net of cash acquired. Hinowa is part of the Access segment. The purchase price included $ 187.9 million in cash less a receivable of $ 1.0 million for certain post-closing working capital adjustments. The operating results of Hinowa have been included in the Company’s Condensed Consolidated Statements of Income from the date of acquisition. Hinowa had sa les of $ 14.6 million fro m the acquisition date to March 31, 2023. Pro-forma results of operations have not been presented as the effect of the acquisition is not material to any periods presented. The following table summarizes the fair values of the assets acquired and liabilities assumed as of the date of acquisition (in millions): Assets Acquired: Current assets, excluding cash of $ 13.7 million $ 53.1 Property, plant and equipment 14.5 Goodwill 85.5 Purchased intangible assets 83.9 Other long-term assets 4.8 Total assets 241.8 Liabilities Assumed: Current liabilities 50.1 Long-term liabilities 4.8 Total liabilities 54.9 Net assets acquired $ 186.9 The preliminary valuation of intangible assets consists of $ 57.5 million of assets subject to amortization with an estimated eleven-year average life and $ 26.4 million of assets with an indefinite life. The purchase price, net of cash acquired, was allocated based on the estimated fair value of the assets acquired and liabilities assumed at the date of acquisition with the excess purchase price of $ 85.5 million recorded as goodwill, representing expected synergies, all of which was allocated to the Access segment. None of the goodwill is deductible for income tax purposes. The purchase price allocations are preliminary at March 31, 2023 and may be subsequently adjusted to reflect the finalization of appraisals and other valuation studies. The Company expensed $ 0.6 million of transaction costs related to the acquisition during the three months ended March 31, 2023.

Revenue Recognition

Revenue Recognition	3 Months Ended
Revenue Recognition	Mar. 31, 2023
Sales And Revenue Recognition [Abstract]
Revenue Recognition	2. Revenue Recognition The Defense segment utilizes the cost-to-cost method of percentage-of-completion to recognize revenue on its performance obligations that are satisfied over time because it best depicts the transfer of control to the customer. Under the cost-to-cost method of percentage-of-completion, the Company measures progress based on the ratio of costs incurred to date to total estimated costs for the performance obligation. The Company recognizes changes in estimated sales or costs and the resulting profit or loss on a cumulative basis. Contract adjustments represent the cumulative effect of the changes on prior periods. If a loss is expected on a performance obligation, the complete estimated loss is recorded in the period in which the loss is identified. There is significant judgment involved in estimating sales and costs within the Defense segment. Each contract is evaluated at contract inception to identify risks and estimate revenue and costs. In performing this evaluation, the Defense segment considers risks of contract performance such as technical requirements, schedule, duration and key contract dependencies. These considerations are then factored into the Company’s estimated revenue and costs. Preliminary contract estimates are subject to change throughout the duration of the contract as additional information becomes available that impacts risks and estimated revenue and costs. In addition, as contract modifications (e.g., new orders) are received, the additional units are factored into the overall contract estimate of costs and transaction price. Contract adjustments impacted the Company’s results as follows (in millions, except per share amounts): Three Months Ended 2023 2022 Net sales $ ( 6.5 ) $ ( 7.9 ) Operating income ( 14.4 ) ( 10.6 ) Net income ( 11.0 ) ( 8.1 ) Diluted earnings per share $ ( 0.17 ) $ ( 0.12 ) The Defense segment incurs pre-production engineering, factory setup and other contract fulfillment costs related to products produced for its customers under long-term contracts. An asset is recognized for costs incurred to fulfill an existing contract or highly-probable anticipated contract if such costs generate or enhance resources that will be used in satisfying performance obligations in the future and the costs are expected to be recovered. Costs related to customer-owned tooling that will be used in production and for which the customer has provided a non-cancelable right to use the tooling to perform during the contract term are also recognized as an asset. Under the Next Generation Delivery Vehicles (NGDV) contract with the United States Postal Service (USPS), the Company has determined that it does not transfer control of any goods or services to the USPS until the construction of the production vehicles. Deferred contract costs will be amortized over the anticipated production volume of the NGDV contract. The Company periodically assesses its contract fulfillment and customer-owned tooling for impairment. The Company did no t record any impairment losses on contract fulfillment or customer-owned tooling costs in the three months ended March 31, 2023 or 2022. Deferred contract costs, the majority of which are related to the NGDV contract, consisted of the following (in millions): March 31, December 31, 2023 2022 Costs for anticipated contracts $ 5.7 $ 6.8 Engineering costs 291.7 256.1 Factory setup costs 20.7 16.4 Customer-owned tooling 167.8 136.5 Deferred contract costs $ 485.9 $ 415.8 Disaggregation of Revenue Consolidated net sales disaggregated by segment and timing of revenue recognition are as follows (in millions): Three Months Ended March 31, 2023 Access Defense Vocational Corporate and Total Point in time $ 1,180.5 $ 3.5 $ 447.2 $ ( 0.9 ) $ 1,630.3 Over time 12.7 509.6 115.5 — 637.8 $ 1,193.2 $ 513.1 $ 562.7 $ ( 0.9 ) $ 2,268.1 Three Months Ended March 31, 2022 Access Defense Vocational Corporate and Total Point in time $ 869.9 $ 2.1 $ 436.9 $ ( 2.3 ) $ 1,306.6 Over time 13.2 533.5 92.4 — 639.1 $ 883.1 $ 535.6 $ 529.3 $ ( 2.3 ) $ 1,945.7 See Note 18 of the Notes to Condensed Consolidated Financial Statements for further disaggregated sales information. Contract Assets and Contract Liabilities In instances where the Company recognizes revenue prior to having an unconditional right to payment, the Company records a contract asset. The Company reduces contract assets when the Company has an unconditional right to payment. The Company periodically assesses its contract assets for impairment. Contract assets and liabilities are determined on a net basis for each contract. The Company did no t record any impairment losses on contract assets during the three months ended March 31, 2023 or 2022. The Company is generally entitled to bill its customers upon satisfaction of its performance obligations, except for its long-term contracts in the Defense segment which typically allow for billing upon acceptance of the finished goods, payments received from customers in advance of performance and extended warranties that are billed in advance of the warranty coverage period. Customer payment is usually received shortly after billing and payment terms generally do not exceed one year. See Note 7 of the Notes to Condensed Consolidated Financial Statements for additional information on the Company’s receivables balances. With the exception of Pierce Manufacturing Inc. (Pierce) in the Vocational segment, the Company’s contracts typically do not contain a significant financing component. Pierce customers earn interest on customer advances at a rate determined in a separate financing transaction between Pierce and the customer at contract inception. Interest charges for amounts due on customer advances recorded in “Interest expense” in the Condensed Consolidated Statements of Income were $ 6.3 million and $ 5.0 million for the three months ended March 31, 2023 and 2022, respectively. The timing of billing do es not always match the timing of revenue recognition. In instances where a customer pays consideration in advance or when the Company is entitled to bill a customer in advance of recognizing the related revenue, the Company records a contract liability. The Company reduces contract liabilities when the Company transfers control of the promised goods and services. Contract liabilities consisted of the following (in millions): March 31, December 31, 2023 2022 Customer advances $ 688.9 $ 696.7 Other current liabilities 74.7 77.4 Long-term customer advances 1,110.6 1,020.5 Other long-term liabilities 65.5 66.8 Total contract liabilities $ 1,939.7 $ 1,861.4 Three Months Ended 2023 2022 Beginning liabilities recognized in revenue $ 189.2 $ 118.3 The Company offers a variety of service-type warranties, including optionally priced extended warranty programs. Outstanding balances related to service-type warranties are included within contract liabilities. Revenue related to service-type warranties is deferred until after the expiration of the standard warranty period. The revenue is then recognized in income over the term of the extended warranty period in proportion to the costs that are expected to be incurred. Changes in the Company’s service-type warranties were as follows (in millions): Three Months Ended 2023 2022 Balance at beginning of period $ 76.1 $ 66.9 Deferred revenue for new service warranties 9.0 7.2 Amortization of deferred revenue ( 6.5 ) ( 4.8 ) Foreign currency translation 0.1 ( 0.2 ) Balance at end of period $ 78.7 $ 69.1 Classification of service-type warranties in the Condensed Consolidated Balance Sheets consisted of the following (in millions): March 31, December 31, 2023 2022 Other current liabilities $ 26.4 $ 26.8 Other long-term liabilities 52.3 49.3 $ 78.7 $ 76.1 Remaining Performance Obligations As of March 31, 2023, the Company had unsatisfied performance obligations for contracts with an original duration greater than one year totaling $ 9.83 billion , of which $ 2.08 billion is expected to be satisfied and recognized in revenue in the remaining nine months of fiscal 2023, $ 2.76 billion is expected to be satisfied and recognized in revenue in fiscal 2024 and $ 4.99 billion is expected to be satisfied and recognized in revenue after fiscal 2024 .

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
Stock-Based Compensation	Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	3. Stock-Based Compensation In February 2017, the Company’s shareholders approved the 2017 Incentive Stock and Awards Plan (the “2017 Stock Plan”). The 2017 Stock Plan replaced the 2009 Incentive Stock and Awards Plan (as amended, the “2009 Stock Plan”). While no new awards will be granted under the 2009 Stock Plan, awards previously made under that plan that were outstanding as of the approval date of the 2017 Stock Plan will remain outstanding and continue to be governed by the provisions of that plan. At March 31, 2023, the Company had reserved 2,840,963 shares of Common Stock available for issuance to provide for the exercise of outstanding stock options and the issuance of Common Stock under incentive compensation awards, including awards issued prior to the effective date of the 2017 Stock Plan. The Company recognizes stock-based compensation expense over the requisite service period for vesting of an award, or to an employee’s eligible retirement date, if earlier and applicable. Total stock-based compensation expense, including cash-based liability awards, was $ 6.8 million ( $ 5.8 million net of tax) and $ 6.5 million ( $ 5.5 million net of tax) for the three months ended March 31, 2023 and 2022 , respectively.

Employee Benefit Plans

Employee Benefit Plans	3 Months Ended
Employee Benefit Plans	Mar. 31, 2023
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]
Employee Benefit Plans	4. Employee Benefit Plans Components of net periodic pension benefit cost were as follows (in millions): Three Months Ended 2023 2022 Components of net periodic benefit cost Service cost $ 1.7 $ 2.6 Interest cost 4.1 4.3 Expected return on plan assets ( 4.8 ) ( 5.2 ) Amortization of prior service cost (benefit) 0.5 0.5 Amortization of net actuarial loss (gain) ( 0.6 ) 0.2 Expenses paid 0.2 0.8 Net periodic benefit cost $ 1.1 $ 3.2 Components of net periodic other post-employment benefit cost were as follows (in millions): Three Months Ended 2023 2022 Components of net periodic benefit cost Service cost $ 0.4 $ 0.6 Interest cost 0.5 0.3 Amortization of prior service cost (benefit) ( 0.4 ) ( 0.3 ) Amortization of net actuarial loss (gain) — 0.1 Net periodic benefit cost $ 0.5 $ 0.7 Components of net periodic benefit cost other than “Service cost” and “Expenses paid” are included in “Miscellaneous, net” in the Condensed Consolidated Statements of Income.

Income Taxes

Income Taxes	3 Months Ended
Income Taxes	Mar. 31, 2023
Income Tax Disclosure [Abstract]
Income Taxes	5. Income Taxes The Company recorded income tax expense of $ 34.2 million , or 26.4 % of pre-tax income, for the three months ended March 31, 2023, compared to $ 20.8 million , or 97.7 % of pre-tax income, for the three months ended March 31, 2022. Results for the three months ended March 31, 2023 we re impacted by $ 3.4 million of discrete tax charges, including a $ 1.7 million charge related to a valuation allowance recorded with respect to a deferred tax asset on marketable securities. Results for the three months ended March 31, 2022 were unfavorably impacted by $ 15.4 million of net discrete charges, including a charge of $ 18.1 million related to taxes on income generated in prior periods as the Company revised its interpretation of certain foreign anti-hybrid tax legislation based upon comments from the corresponding taxing authorities and a benefit of $ 3.8 million for the release of a foreign tax credit valuation allowance in response to the issuance by the U.S. Treasury Department of final foreign tax credit regulations. The Company’s liability for gross unrecognized tax benefits, excluding related interest and penalties, was $ 93.8 million and $ 98.8 million as of March 31, 2023 and December 31, 2022, respectively. As of March 31, 2023, net unrecognized tax benefits, excluding interest and penalties, of $ 54.3 million would affect the Company’s net income if recognized. The Company recognizes accrued interest and penalties, if any, related to unrecognized tax benefits in the “Provision for income taxes” in the Condensed Consolidated Statements of Income. During the three months ended March 31, 2023 and 2022, the Company recognized expense of $ 0.9 million and $ 0.6 million , respectively, related to interest and penalties. At March 31, 2023, the Company had accruals for the payment of interest and penalties of $ 5.7 million . During the next twelve months, it is reasonably possible that federal, state and foreign tax audit resolutions could reduce net unrecognized tax benefits by approximately $ 5.5 million because the Company’s tax positions are sustained on audit, the Company agrees to their disallowance or the statutes of limitations cl ose.

Earnings Per Share

Earnings Per Share	3 Months Ended
Earnings Per Share	Mar. 31, 2023
Earnings Per Share [Abstract]
Earnings Per Share	6. Earnings Per Share The reconciliation of basic weighted-average shares outstanding to diluted weighted-average shares outstanding was as follows: Three Months Ended 2023 2022 Basic weighted-average common shares outstanding 65,440,014 66,394,041 Dilutive stock options and other equity-based compensation awards 390,971 — Diluted weighted-average common shares outstanding 65,830,985 66,394,041 Shares for stock-based compensation not included in the computation of diluted earnings per share attributable to common shareholders because they would have been anti-dilutive were as follows: Three Months Ended 2023 2022 Shares for stock-based compensation — 522,003

Receivables

Receivables	3 Months Ended
Receivables	Mar. 31, 2023
Receivables [Abstract]
Receivables	7. Receivables Receivables consisted of the following (in millions): March 31, December 31, Trade receivables - U.S. government $ 124.7 $ 135.3 Trade receivables - other 1,135.8 979.5 Finance receivables 8.3 7.3 Notes receivable 7.6 — Other receivables 58.0 53.3 1,334.4 1,175.4 Less allowance for doubtful accounts ( 7.1 ) ( 6.7 ) $ 1,327.3 $ 1,168.7 Classification of receivables in the Condensed Consolidated Balance Sheets consisted of the following (in millions): March 31, December 31, Current receivables $ 1,311.7 $ 1,162.0 Long-term receivables 15.6 6.7 $ 1,327.3 $ 1,168.7 Changes in the Company’s allowance for doubtful accounts by type of receivable were as follows (in millions): Three Months Ended March 31, 2023 Three Months Ended March 31, 2022 Finance Trade and Total Finance Trade and Total Allowance at beginning of period $ 0.1 $ 6.6 $ 6.7 $ 0.5 $ 3.7 $ 4.2 Provision for doubtful accounts, net of recoveries 0.1 0.3 0.4 ( 0.1 ) 1.8 1.7 Allowance at end of period $ 0.2 $ 6.9 $ 7.1 $ 0.4 $ 5.5 $ 5.9

Inventories

Inventories	3 Months Ended
Inventories	Mar. 31, 2023
Inventory Disclosure [Abstract]
Inventories	8. Inventories Inventories consisted of the following (in millions): March 31, December 31, Raw materials $ 1,114.4 $ 1,140.6 Partially finished products 403.4 383.1 Finished products 388.1 341.9 $ 1,905.9 $ 1,865.6

Property, Plant and Equipment

Property, Plant and Equipment	3 Months Ended
Property, Plant and Equipment	Mar. 31, 2023
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	9. Property, Plant and Equipment Property, plant and equipment consisted of the following (in millions): March 31, December 31, Land and land improvements $ 80.3 $ 74.9 Buildings 460.2 441.6 Machinery and equipment 857.5 841.9 Software and related costs 205.9 201.5 Equipment on operating lease to others 10.2 10.2 Construction in progress 259.5 234.3 1,873.6 1,804.4 Less accumulated depreciation ( 1,002.1 ) ( 978.2 ) $ 871.5 $ 826.2 Depreciation expense was $ 23.3 million and $ 20.7 million for the three months ended March 31, 2023 and 2022, respectively. Capitalized interest was insignificant for all reported periods. Equipment on operating lease to others represents the cost of equipment shipped to customers for whom the Company has guaranteed the residual value of equipment on short-term leases. These transactions are accounted for as operating leases with the related assets capitalized and depreciated over their estimated economic lives of five to ten years . Cost less accumulated depreciation for equipment on operating lease was $ 9.1 million and $ 9.3 million at March 31, 2023 and December 31, 2022 , respectively.

Goodwill and Purchased Intangib

Goodwill and Purchased Intangible Assets	3 Months Ended
Goodwill and Purchased Intangible Assets	Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Purchased Intangible Assets	10. Goodwill and Purchased Intangible Assets Goodwill and other indefinite-lived intangible assets are not amortized but are reviewed for impairment annually or more frequently if potential interim indicators exist that could result in impairment. The Company performs its annual impairment test in the fourth quarter of its fiscal year. The Company acquired Hinowa on January 31, 2023. The goodwill and intangible values related to the Hinowa acquisition are based on management’s best estimates as of March 31, 2023. See Note 1 of the Condensed Consolidated Financial Statements for additional information. The following table presents changes in goodwill during the three months ended March 31, 2023 (in millions): Access Defense Vocational Total Net goodwill at December 31, 2022 $ 865.8 $ 44.4 $ 131.8 $ 1,042.0 Foreign currency translation 1.7 — — 1.7 Acquisition 85.5 — — 85.5 Net goodwill at March 31, 2023 $ 953.0 $ 44.4 $ 131.8 $ 1,129.2 The following table presents details of the Company’s goodwill allocated to the reportable segments (in millions): March 31, 2023 December 31, 2022 Gross Accumulated Net Gross Accumulated Net Access $ 1,885.1 $ ( 932.1 ) $ 953.0 $ 1,797.9 $ ( 932.1 ) $ 865.8 Defense 44.4 — 44.4 44.4 — 44.4 Vocational 301.2 ( 169.4 ) 131.8 303.5 ( 171.7 ) 131.8 $ 2,230.7 $ ( 1,101.5 ) $ 1,129.2 $ 2,145.8 $ ( 1,103.8 ) $ 1,042.0 Details of the Company’s total purchased intangible assets are as follows (in millions): March 31, 2023 Weighted- Gross Accumulated Net Amortizable intangible assets: Distribution network 39.2 $ 55.3 $ ( 37.3 ) $ 18.0 Technology-related 11.7 137.7 ( 102.4 ) 35.3 Customer relationships 12.5 601.8 ( 559.2 ) 42.6 Other 10.3 44.2 ( 16.9 ) 27.3 14.0 839.0 ( 715.8 ) 123.2 Non-amortizable trade names 412.9 — 412.9 $ 1,251.9 $ ( 715.8 ) $ 536.1 December 31, 2022 Weighted- Gross Accumulated Net Amortizable intangible assets: Distribution network 39.2 $ 55.3 $ ( 37.0 ) $ 18.3 Technology-related 12.0 108.3 ( 104.4 ) 3.9 Customer relationships 12.6 576.6 ( 557.3 ) 19.3 Other 10.9 50.2 ( 22.1 ) 28.1 14.2 790.4 ( 720.8 ) 69.6 Non-amortizable trade names 387.4 — 387.4 $ 1,177.8 $ ( 720.8 ) $ 457.0 The estimated future amortization expense of purchased intangible assets for the remainder of fiscal 2023 and each of the five years succeeding December 31, 2023 are as follows: 2023 (remaining nine months) - $ 9.7 million ; 2024 - $ 12.7 million ; 2025 - $ 12.6 million ; 2026 - $ 12.6 million ; 2027 - $ 12.6 million ; and 2028 - $ 10.1 million .

Credit Agreements

Credit Agreements	3 Months Ended
Credit Agreements	Mar. 31, 2023
Debt Disclosure [Abstract]
Credit Agreements	11. Credit Agreements The Company was obligated under the following debt instruments (in millions): March 31, 2023 Principal Debt Issuance Costs Debt, Net 4.600 % Senior notes due May 2028 $ 300.0 $ ( 2.0 ) $ 298.0 3.100 % Senior notes due March 2030 300.0 ( 2.8 ) 297.2 $ 600.0 $ ( 4.8 ) $ 595.2 Other short-term debt $ 2.1 December 31, 2022 Principal Debt Issuance Costs Debt, Net 4.600 % Senior notes due May 2028 300.0 ( 2.1 ) 297.9 3.100 % Senior notes due March 2030 300.0 ( 2.9 ) 297.1 $ 600.0 $ ( 5.0 ) $ 595.0 Other short-term debt $ 9.7 On March 23, 2022, the Company entered into a Third Amended and Restated Credit Agreement with various lenders (the “Credit Agreement”). The Credit Agreement provides for an unsecured revolving credit facility (the “Revolving Credit Facility”) that matures in March 2027 with an initial maximum aggregate amount of availability of $ 1.1 billion. At March 31, 2023, outstanding letters of credit of $ 10.8 million reduced available capacity under the Revolving Credit Facility to $ 1.09 billion . Under the Credit Agreement, the Company is obligated to pay (i) an unused commitment fee ranging from 0.080 % to 0.225 % per annum of the average daily unused portion of the aggregate revolving credit commitments under the Credit Agreement and (ii) a fee ranging from 0.4375 % to 1.500 % per annum of the maximum amount available to be drawn for each letter of credit issued and outstanding under the Credit Agreement. Borrowings under the Credit Agreement bear interest for dollar-denominated loans at a variable rate equal to (i) Term SOFR (the forward-looking secured overnight financing rate) plus a specified margin, which may be adjusted upward or downward depending on whether certain criteria are satisfied, or (ii) the base rate (which is the highest of (x) Bank of America, N.A.’s prime rate, (y) the federal funds rate plus 0.50 % or (z) the sum of 1.00 % plus one-month Term SOFR) plus a specified margin, which may be adjusted upward or downward depending on whether certain criteria are satisfied. At March 31, 2023, the interest spread on the Revolving Credit Facility was 112.5 basis points. The Credit Agreement contains various restrictions and covenants, including a requirement that the Company maintain a leverage ratio at certain levels, subject to certain exceptions, restrictions on the ability of the Company and certain of its subsidiaries to consolidate or merge, create liens, incur additional subsidiary indebtedness and consummate acquisitions and a restriction on the disposition of all or substantially all of the assets of the Company and its subsidiaries taken as a whole. The Credit Agreement requires the Company to maintain a maximum leverage ratio (defined as, with certain adjustments, the ratio of the Company’s consolidated indebtedness to the Company’s consolidated net income for the previous four quarters before interest, taxes, depreciation, amortization, non-cash charges and certain other items (EBITDA)) as of the last day of any fiscal quarter of 3.75 to 1.00, subject to the Company’s right to temporarily increase the maximum leverage ratio to 4.25 to 1.00 in connection with certain material acquisitions. The Company was in compliance with the financial covenant contained in the Credit Agreement as of March 31, 2023. In conjunction with the Hinowa acquisition on January 31, 2023, the Company assumed € 16.3 million ($ 17.7 million) of outstanding debt of the acquiree, of which € 14.3 million ($ 15.5 million) was repaid by the Company in February 2023. As of March 31, 2023 , € 2.0 million ($ 2.1 million) of notes remained outstanding with a weighted average interest rate of 1.0 %. In March 2022, the Company entered into a 100.0 million Chinese renminbi uncommitted line of credit to provide short-term finance support to operations in China. There were no amounts outstanding on the uncommitted line of credit as of March 31, 2023. There was 12.6 million Chinese renminbi ( $ 1.8 million ) outstanding on the uncommitted line of credit as of December 31, 2022. The line of credit carries a variable interest rate that is set by the lender, which was 3.6 % at March 31, 2023. In September 2019, the Company entered into a 220.0 million Chinese renminbi uncommitted line of credit to provide short-term finance support to operations in China. There were no amounts outstanding on the uncommitted line of credit as of March 31, 2023. There was 54.0 million Chinese renminbi ( $ 7.8 million ) outstanding on the uncommitted line of credit as of December 31, 2022. The line of credit carries a variable interest rate that is set by the lender, which was 4.2 % at March 31, 2023. In May 2018, the Company issued $ 300.0 million of 4.600 % unsecured senior notes due May 15, 2028 (the “2028 Senior Notes”). In February 2020, the Company issued $ 300.0 million of 3.100 % unsecured senior notes due March 1, 2030 (the “2030 Senior Notes”). The 2028 Senior Notes and the 2030 Senior Notes were issued pursuant to an indenture (the “Indenture”) between the Company and a trustee. The Indenture contains customary affirmative and negative covenants. The Company has the option to redeem the 2028 and 2030 Senior Notes at any time for a premium. The fair value of the long-term debt is estimated based upon Level 2 inputs to reflect the market rate of the Company’s debt. At March 31, 2023, the fair value of the 2028 Senior Notes and the 2030 Senior Notes was estimated to be $ 295 million ( $ 285 million at December 31, 2022) and $ 264 million ( $ 254 million at December 31, 2022 ), respectively. See Note 17 of the Notes to Condensed Consolidated Financial Statements for the definition of a Level 2 input.

Warranties

Warranties	3 Months Ended
Warranties	Mar. 31, 2023
Product Warranties Disclosures [Abstract]
Warranties	12. Warranties The Company’s products generally carry explicit warranties that extend from six months to five years , based on terms that are generally accepted in the marketplace. Selected components (such as engines, transmissions, tires, etc.) included in the Company’s end products may include manufacturers’ warranties. These manufacturers’ warranties are generally passed on to the end customer of the Company’s products, and the customer would generally deal directly with the component manufacturer. Provisions for estimated warranty and other related costs are recorded at the time of sale and are periodically adjusted to reflect actual experience. Certain warranty and other related claims involve matters of dispute that ultimately are resolved by negotiation, arbitration or litigation. At times, warranty issues arise that are beyond the scope of the Company’s historical experience. It is reasonably possible that additional warranty and other related claims could arise from disputes or other matters in excess of amounts accrued; however, the Company does not expect that any such amounts, while not determinable, would have a material effect on the Company’s consolidated financial condition, results of operations or cash flows. Changes in the Company’s assurance-type warranty liability were as follows (in millions): Three Months Ended 2023 2022 Balance at beginning of period $ 58.8 $ 65.7 Warranty provisions 14.9 11.1 Settlements made ( 12.4 ) ( 13.6 ) Changes in liability for pre-existing warranties, net ( 0.7 ) ( 1.6 ) Disposition of business ( 0.5 ) — Acquisition of business 0.2 — Balance at end of period $ 60.3 $ 61.6

Guarantee Arrangements

Guarantee Arrangements	3 Months Ended
Guarantee Arrangements	Mar. 31, 2023
Guarantees [Abstract]
Guarantee Arrangements	13. Guarantee Arrangements Customers of the Company, from time to time, may fund purchases of the Company’s equipment through third-party finance companies. In certain instances, the Company may be requested to provide support for these arrangements through credit or residual value guarantees, by which the Company agrees to make payments to the finance companies in certain circumstances as further described below. Credit Guarantees: The Company is party to multiple agreements whereby at March 31, 2023 the Company guaranteed an aggregate of $ 718.0 million in indebtedness of customers. At March 31, 2023, the Company estimated that its maximum loss exposure under these contracts was $ 119.3 million . Terms of these guarantees coincide with the financing arranged by the customer and generally do not exceed five years. Under the terms of these agreements and upon the occurrence of certain events, the Company generally has the ability to, among other things, take possession of the underlying collateral. If the financial condition of the customers were to deteriorate and result in their inability to make payments, then loss provisions in excess of amounts provided for at inception may be required. Given the Company’s position as original equipment manufacturer and its knowledge of end markets, the Company, when called upon to fulfill a guarantee, generally has been able to liquidate the financed equipment at a minimal loss, if any, to the Company. While the Company does not expect to experience losses under these agreements that are materially in excess of the amounts reserved, it cannot provide any assurance that the financial condition of the third parties will not deteriorate resulting in the third parties’ inability to meet their obligations. In the event that this occurs, the Company cannot guarantee that the collateral underlying the agreements will be sufficient to avoid losses materially in excess of the amounts reserved. Any losses under these guarantees would generally be mitigated by the value of any underlying collateral, including financed equipment. During periods of economic weakness, collateral values generally decline and can contribute to higher exposure to losses. Residual Value Guarantees: The Company is party to multiple agreements whereby at March 31, 2023 the Company guaranteed to support an aggregate of $ 120.0 million of customer equipment value. At March 31, 2023, the Company estimated that its maximum loss exposure under these contracts was $ 12.8 million . Terms of these guarantees coincide with the financing arranged by the customer and generally do not exceed five years. Under the terms of these agreements, the Company guarantees that a piece of equipment will have a minimum residual value at a future date. If the counterparty is not able to recover the agreed upon residual value through sale, or alternative disposition, the Company is responsible for a portion of the shortfall. The Company is generally able to mitigate a portion of the risk associated with these guarantees by staggering the maturity terms of the guarantees, diversification of the portfolio and leveraging knowledge gained through the Company’s own experience in the used equipment markets. There can be no assurance the Company’s historical experience in used equipment markets will be indicative of future results. The Company’s ability to recover losses experienced from its guarantees may be affected by economic conditions in used equipment markets at the time of loss. During periods of economic weakness, residual values generally decline and can contribute to higher exposure to losses. Changes in the Company’s stand ready obligations (non-contingent) to perform under guarantees were as follows (in millions): Three Months Ended 2023 2022 Balance at beginning of period $ 12.2 $ 12.1 Provision for new credit guarantees 0.8 1.0 Changes for pre-existing guarantees, net — ( 2.5 ) Amortization of previous guarantees ( 0.8 ) ( 0.5 ) Balance at end of period $ 12.2 $ 10.1 The contingent portion of the guarantee liabilities that relates to current expected credit losses is recognized separately and is recorded within “Other current liabilities” and “Other long-term liabilities” in the Company’s Condensed Consolidated Balance Sheets. Changes in the Company’s off-balance sheet credit loss exposure (contingent) related to its guarantees were as follows (in millions): Three Months Ended 2023 2022 Balance at beginning of period $ 6.3 $ 4.0 Provision for new credit guarantees 0.5 0.6 Changes in allowance for pre-existing guarantees, net ( 0.7 ) 5.0 Foreign currency translation 0.1 0.1 Balance at end of period $ 6.2 $ 9.7

Contingencies, Significant Esti

Contingencies, Significant Estimates and Concentrations	3 Months Ended
Contingencies, Significant Estimates and Concentrations	Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Contingencies, Significant Estimates and Concentrations	14. Contingencies, Significant Estimates and Concentrations Personal Injury Actions and Other - Product and general liability claims are made against the Company from time to time in the ordinary course of business. The Company is generall y self-insured for future claims up to $ 5.0 million per claim. Accordingly, a reserve is maintained for the estimated costs of such claims. At March 31, 2023 and December 31, 2022, the estimated net liabilities for product and general liability claims totaled $ 41.9 million and $ 41.2 million , respectively. There is inherent uncertainty as to the eventual resolution of unsettled claims. Management, however, believes that any losses in excess of established reserves will not have a material effect on the Company’s financial condition, results of operations or cash flows. Market Risks - The Company was contingently liable under bid, performance and specialty bonds totaling $ 2.06 billion and $ 2.04 billion at March 31, 2023 and December 31, 2022, respectively. Open standby letters of credit issued by the Company’s banks in favor of third parties totaled $ 13.5 million and $ 18.8 million at March 31, 2023 and December 31, 2022, respectively. Other Matters - The Company is subject to environmental matters and legal proceedings and claims, including patent, antitrust, product liability, warranty and state dealership regulation compliance proceedings, that arise in the ordinary course of business. Although the final results of all such matters and claims cannot be predicted with certainty, management believes that the ultimate resolution of all such matters and claims will not have a material effect on the Company’s financial condition, results of operations or cash flows. Actual results could vary, among other things, due to the uncertainties involved in litigation. Major contracts for military systems are performed over extended periods of time and are subject to changes in scope of work and delivery schedules. Pricing negotiations on changes and settlement of claims often extend over prolonged periods of time. The Company’s ultimate profitability on such contracts may depend on the eventual outcome of an equitable settlement of contractual issues with the Company’s customers.

Shareholders' Equity

Shareholders' Equity	3 Months Ended
Shareholders' Equity	Mar. 31, 2023
Stockholders' Equity Note [Abstract]
Shareholders' Equity	15. Shareholders ’ Equity In May 2019, the Company’s Board of Directors approved a Common Stock repurchase authorization for which there was remaining authority to repurchase 4,109,419 shares of Common Stock as of May 3, 2022. On May 3, 2022, the Board of Directors increased the Common Stock repurchase authorization by 7,890,581 shares to 12,000,000 shares as of that date. The Company repurchased 173,169 shares of Common Stock under this authorization during the three months ended March 31, 2023 at a cost of $ 15.2 million . The Company repurchased 751,309 shares of Common Stock under the then-existing authorization during the three months ended March 31, 2022 at a cost of $ 85.0 million . As of March 31, 2023, the Company had remaining authority to repurchase 11,377,508 shares of Comm on Stock.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	3 Months Ended
Accumulated Other Comprehensive Income (Loss)	Mar. 31, 2023
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive Income (Loss)	16. Accumulated Other Comprehensive Income (Loss) Changes in accumulated other comprehensive income (loss) by component were as follows (in millions): Three Months Ended March 31, 2023 Employee Pension and Cumulative Derivative Accumulated Other Balance at beginning of period $ 31.1 $ ( 131.6 ) $ 8.2 $ ( 92.3 ) Other comprehensive income (loss) before reclassifications — 10.4 0.2 10.6 Amounts reclassified from accumulated other comprehensive income (loss) ( 0.4 ) 1.0 ( 2.2 ) ( 1.6 ) Net current period other comprehensive income (loss) ( 0.4 ) 11.4 ( 2.0 ) 9.0 Balance at end of period $ 30.7 $ ( 120.2 ) $ 6.2 $ ( 83.3 ) Three Months Ended March 31, 2022 Employee Pension and Cumulative Derivative Accumulated Other Balance at beginning of period $ ( 25.6 ) $ ( 105.2 ) $ 2.2 $ ( 128.6 ) Other comprehensive income (loss) before reclassifications — ( 6.5 ) 0.9 ( 5.6 ) Amounts reclassified from accumulated other comprehensive income (loss) 0.4 — ( 0.1 ) 0.3 Net current period other comprehensive income (loss) 0.4 ( 6.5 ) 0.8 ( 5.3 ) Balance at end of period $ ( 25.2 ) $ ( 111.7 ) $ 3.0 $ ( 133.9 ) Reclassifications out of accumulated other comprehensive income (loss) included in the computation of net periodic pension and postretirement benefit cost (See Note 4 of the Notes to Condensed Consolidated Financial Statements for additional details regarding employee benefit plans) were as follows (in millions): Classification of Three Months Ended 2023 2022 Amortization of employee pension and postretirement benefits items Prior service costs Miscellaneous, net $ 0.1 $ 0.2 Actuarial losses Miscellaneous, net ( 0.6 ) 0.3 Total before tax ( 0.5 ) 0.5 Tax expense (benefit) 0.1 ( 0.1 ) Net of tax $ ( 0.4 ) $ 0.4

Fair Value Measurement

Fair Value Measurement	3 Months Ended
Fair Value Measurement	Mar. 31, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurement	17. Fair Value Measurement FASB ASC Topic 820, Fair Value Measurements and Disclosures , defines fair value as the price that would be received to sell an asset or paid to transfer a liability (i.e., exit price) in an orderly transaction between market participants at the measurement date. FASB ASC Topic 820 requires disclosures that categorize assets and liabilities measured at fair value into one of three different levels depending on the assumptions (i.e., inputs) used in the valuation. Level 1 provides the most reliable measure of fair value, while Level 3 generally requires significant management judgment. The three levels are defined as follows: Level 1: Unadjusted quoted prices in active markets for identical assets or liabilities. Level 2: Observable inputs other than quoted prices in active markets for identical assets or liabilities, such as quoted prices for similar assets or liabilities in active markets or quoted prices for identical assets or liabilities in inactive markets. Level 3: Unobservable inputs reflecting management’s own assumptions about the inputs used in pricing the asset or liability. The fair value of the Company’s financial assets and liabilities were as follows (in millions): Level 1 Level 2 Level 3 Total March 31, 2023 Assets: SERP plan assets (a) $ 13.9 $ — $ — $ 13.9 Investment in equity securities (b) 3.1 — — 3.1 Foreign currency exchange derivatives (c) — 9.6 — 9.6 Liabilities: Foreign currency exchange derivatives (c) $ — $ 0.9 $ — $ 0.9 December 31, 2022 Assets: SERP plan assets (a) $ 13.8 $ — $ — $ 13.8 Investment in equity securities (b) 3.8 — — 3.8 Foreign currency exchange derivatives (c) — 12.7 — 12.7 Liabilities: Foreign currency exchange derivatives (c) $ — $ 1.6 $ — $ 1.6 (a) Represents investments held in a rabbi trust for the Company’s non-qualified supplemental executive retirement plan (SERP). The fair values of these investments are determined using a market approach. Investments include mutual funds for which quoted prices in active markets are available. The Company records changes in the fair value of investments in “Miscellaneous, net” in the Condensed Consolidated Statements of Income. (b) Represents investments in equity securities for which quoted prices in active markets are available. The Company records changes in the fair value of investments in “Miscellaneous, net” in the Condensed Consolidated Statements of Income. (c) Based on observable market transactions of forward currency prices.

Business Segment Information

Business Segment Information	3 Months Ended
Business Segment Information	Mar. 31, 2023
Segment Reporting [Abstract]
Business Segment Information	18. Business Segment Information Effective January 31, 2023, the Company formed the Vocational segment by combining the historical Fire & Emergency and Commercial segment businesses. All information has been restated to conform to the new reporting segments. As a result, the Company is organized into three 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 reportable segments are as follows: Access : This segment consists of JLG, JerrDan and Hinowa. 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. JerrDan designs, manufactures and markets towing and recovery equipment in the U.S. and abroad. Hinowa specializes in manufacturing equipment for working at heights and moving earth, such as aerial platforms, mini dumpers and tracked lift trucks, as well as undercarriages. Access customers include equipment rental companies, construction contractors, manufacturing companies and home improvement centers. 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, delivery vehicles for the USPS, as well as offer engineering and product development services primarily to customers in the motorsports and multiple ground vehicle markets. Vocational : This segment includes Pierce, Airport Products, Maxi-Metal, Kewaunee, McNeilus, IMT and Oshkosh Commercial. The Pierce, Airport Products, Maxi-Metal, and Kewaunee business units design, manufacture and market commercial and custom fire apparatus, 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. McNeilus designs, manufactures, markets and distributes refuse collection vehicles and components. IMT is a designer and manufacturer of field service vehicles and truck-mounted cranes for niche markets. Oshkosh Commercial designs, manufactures, markets and distributes front discharge concrete mixer vehicles and components. 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, new product development costs, stock-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. Selected financial information concerning the Company’s reportable segments and product lines is as follows (in millions): Three Months Ended March 31, 2023 2022 External Inter- Net External Inter- Net Net sales: Access Aerial work platforms $ 602.0 $ — $ 602.0 $ 439.7 $ — $ 439.7 Telehandlers 341.4 — 341.4 229.7 — 229.7 Other 249.8 — 249.8 213.6 0.1 213.7 Total Access 1,193.2 — 1,193.2 883.0 0.1 883.1 Defense 512.8 0.3 513.1 535.2 0.4 535.6 Vocational Fire apparatus 288.4 — 288.4 279.9 — 279.9 Refuse collection 141.9 — 141.9 129.3 — 129.3 Other 131.7 0.7 132.4 118.3 1.8 120.1 Total Vocational 562.0 0.7 562.7 527.5 1.8 529.3 Corporate and intersegment eliminations 0.1 ( 1.0 ) ( 0.9 ) — ( 2.3 ) ( 2.3 ) Consolidated $ 2,268.1 $ — $ 2,268.1 $ 1,945.7 $ — $ 1,945.7 Three Months Ended 2023 2022 Operating income (loss): Access $ 135.0 $ 5.7 Defense 1.7 19.4 Vocational 28.1 41.0 Corporate ( 34.0 ) ( 34.3 ) Consolidated 130.8 31.8 Interest expense, net of interest income ( 7.2 ) ( 11.6 ) Miscellaneous other income 5.8 1.1 Income before income taxes and losses of unconsolidated affiliates $ 129.4 $ 21.3 March 31, December 31, Identifiable assets: Access: U.S. $ 2,712.8 $ 2,493.0 Europe, Africa and Middle East 691.6 562.2 Rest of the World 430.8 428.4 Total Access 3,835.2 3,483.6 Defense: U.S. 2,077.0 2,060.0 Rest of the World 6.8 6.9 Total Defense 2,083.8 2,066.9 Vocational: U.S. 1,102.0 1,063.4 Rest of the World 36.5 64.6 Total Vocational 1,138.5 1,128.0 Corporate - U.S. (a) 858.9 1,050.5 Consolidated $ 7,916.4 $ 7,729.0 (a) Primarily includes cash and short-term investments and the Company’s global headquarters. The following table presents net sales by geographic region based on product shipment destination (in millions): Three Months Ended March 31, 2023 Access Defense Vocational Eliminations Total Net sales: North America $ 948.6 $ 427.6 $ 553.4 $ ( 0.9 ) $ 1,928.7 Europe, Africa and Middle East 136.7 85.3 1.7 — 223.7 Rest of the World 107.9 0.2 7.6 — 115.7 Consolidated $ 1,193.2 $ 513.1 $ 562.7 $ ( 0.9 ) $ 2,268.1 Three Months Ended March 31, 2022 Access Defense Vocational Eliminations Total Net sales: North America $ 732.9 $ 524.3 $ 514.7 $ ( 2.3 ) $ 1,769.6 Europe, Africa and Middle East 81.0 11.0 0.9 — 92.9 Rest of the World 69.2 0.3 13.7 — 83.2 Consolidated $ 883.1 $ 535.6 $ 529.3 $ ( 2.3 ) $ 1,945.7

Basis of Presentation (Tables)

Basis of Presentation (Tables)	3 Months Ended
Basis of Presentation (Tables)	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Summary of Fair Values of Assets Acquired and Liabilities Assumed	The following table summarizes the fair values of the assets acquired and liabilities assumed as of the date of acquisition (in millions): Assets Acquired: Current assets, excluding cash of $ 13.7 million $ 53.1 Property, plant and equipment 14.5 Goodwill 85.5 Purchased intangible assets 83.9 Other long-term assets 4.8 Total assets 241.8 Liabilities Assumed: Current liabilities 50.1 Long-term liabilities 4.8 Total liabilities 54.9 Net assets acquired $ 186.9

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
Revenue Recognition (Tables)	Mar. 31, 2023
Sales And Revenue Recognition [Abstract]
Schedule of Impact Due to Contract Adjustments	Contract adjustments impacted the Company’s results as follows (in millions, except per share amounts): Three Months Ended 2023 2022 Net sales $ ( 6.5 ) $ ( 7.9 ) Operating income ( 14.4 ) ( 10.6 ) Net income ( 11.0 ) ( 8.1 ) Diluted earnings per share $ ( 0.17 ) $ ( 0.12 )
Schedule of Deferred Contract Costs	Deferred contract costs, the majority of which are related to the NGDV contract, consisted of the following (in millions): March 31, December 31, 2023 2022 Costs for anticipated contracts $ 5.7 $ 6.8 Engineering costs 291.7 256.1 Factory setup costs 20.7 16.4 Customer-owned tooling 167.8 136.5 Deferred contract costs $ 485.9 $ 415.8
Disaggregation of Revenue	Consolidated net sales disaggregated by segment and timing of revenue recognition are as follows (in millions): Three Months Ended March 31, 2023 Access Defense Vocational Corporate and Total Point in time $ 1,180.5 $ 3.5 $ 447.2 $ ( 0.9 ) $ 1,630.3 Over time 12.7 509.6 115.5 — 637.8 $ 1,193.2 $ 513.1 $ 562.7 $ ( 0.9 ) $ 2,268.1 Three Months Ended March 31, 2022 Access Defense Vocational Corporate and Total Point in time $ 869.9 $ 2.1 $ 436.9 $ ( 2.3 ) $ 1,306.6 Over time 13.2 533.5 92.4 — 639.1 $ 883.1 $ 535.6 $ 529.3 $ ( 2.3 ) $ 1,945.7
Schedule of Contract Liabilities and Revenue Recognized	Contract liabilities consisted of the following (in millions): March 31, December 31, 2023 2022 Customer advances $ 688.9 $ 696.7 Other current liabilities 74.7 77.4 Long-term customer advances 1,110.6 1,020.5 Other long-term liabilities 65.5 66.8 Total contract liabilities $ 1,939.7 $ 1,861.4 Three Months Ended 2023 2022 Beginning liabilities recognized in revenue $ 189.2 $ 118.3
Schedule of Changes in Warranty Liability and Unearned Extended Warranty Premiums	Changes in the Company’s service-type warranties were as follows (in millions): Three Months Ended 2023 2022 Balance at beginning of period $ 76.1 $ 66.9 Deferred revenue for new service warranties 9.0 7.2 Amortization of deferred revenue ( 6.5 ) ( 4.8 ) Foreign currency translation 0.1 ( 0.2 ) Balance at end of period $ 78.7 $ 69.1 Changes in the Company’s assurance-type warranty liability were as follows (in millions): Three Months Ended 2023 2022 Balance at beginning of period $ 58.8 $ 65.7 Warranty provisions 14.9 11.1 Settlements made ( 12.4 ) ( 13.6 ) Changes in liability for pre-existing warranties, net ( 0.7 ) ( 1.6 ) Disposition of business ( 0.5 ) — Acquisition of business 0.2 — Balance at end of period $ 60.3 $ 61.6
Schedule of Classification of Service-type Warranties in Condensed Consolidated Balance Sheets	Classification of service-type warranties in the Condensed Consolidated Balance Sheets consisted of the following (in millions): March 31, December 31, 2023 2022 Other current liabilities $ 26.4 $ 26.8 Other long-term liabilities 52.3 49.3 $ 78.7 $ 76.1

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	3 Months Ended
Employee Benefit Plans (Tables)	Mar. 31, 2023
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]
Schedule of Net Periodic Benefit Cost	Components of net periodic pension benefit cost were as follows (in millions): Three Months Ended 2023 2022 Components of net periodic benefit cost Service cost $ 1.7 $ 2.6 Interest cost 4.1 4.3 Expected return on plan assets ( 4.8 ) ( 5.2 ) Amortization of prior service cost (benefit) 0.5 0.5 Amortization of net actuarial loss (gain) ( 0.6 ) 0.2 Expenses paid 0.2 0.8 Net periodic benefit cost $ 1.1 $ 3.2 Components of net periodic other post-employment benefit cost were as follows (in millions): Three Months Ended 2023 2022 Components of net periodic benefit cost Service cost $ 0.4 $ 0.6 Interest cost 0.5 0.3 Amortization of prior service cost (benefit) ( 0.4 ) ( 0.3 ) Amortization of net actuarial loss (gain) — 0.1 Net periodic benefit cost $ 0.5 $ 0.7

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
Earnings Per Share (Tables)	Mar. 31, 2023
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The reconciliation of basic weighted-average shares outstanding to diluted weighted-average shares outstanding was as follows: Three Months Ended 2023 2022 Basic weighted-average common shares outstanding 65,440,014 66,394,041 Dilutive stock options and other equity-based compensation awards 390,971 — Diluted weighted-average common shares outstanding 65,830,985 66,394,041
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	Shares for stock-based compensation not included in the computation of diluted earnings per share attributable to common shareholders because they would have been anti-dilutive were as follows: Three Months Ended 2023 2022 Shares for stock-based compensation — 522,003

Receivables (Tables)

Receivables (Tables)	3 Months Ended
Receivables (Tables)	Mar. 31, 2023
Receivables [Abstract]
Schedule of Receivables	Receivables consisted of the following (in millions): March 31, December 31, Trade receivables - U.S. government $ 124.7 $ 135.3 Trade receivables - other 1,135.8 979.5 Finance receivables 8.3 7.3 Notes receivable 7.6 — Other receivables 58.0 53.3 1,334.4 1,175.4 Less allowance for doubtful accounts ( 7.1 ) ( 6.7 ) $ 1,327.3 $ 1,168.7
Classification of Receivables in the Condensed Consolidated Balance Sheets	Classification of receivables in the Condensed Consolidated Balance Sheets consisted of the following (in millions): March 31, December 31, Current receivables $ 1,311.7 $ 1,162.0 Long-term receivables 15.6 6.7 $ 1,327.3 $ 1,168.7
Schedule of Allowance for Doubtful Accounts	Changes in the Company’s allowance for doubtful accounts by type of receivable were as follows (in millions): Three Months Ended March 31, 2023 Three Months Ended March 31, 2022 Finance Trade and Total Finance Trade and Total Allowance at beginning of period $ 0.1 $ 6.6 $ 6.7 $ 0.5 $ 3.7 $ 4.2 Provision for doubtful accounts, net of recoveries 0.1 0.3 0.4 ( 0.1 ) 1.8 1.7 Allowance at end of period $ 0.2 $ 6.9 $ 7.1 $ 0.4 $ 5.5 $ 5.9

Inventories (Tables)

Inventories (Tables)	3 Months Ended
Inventories (Tables)	Mar. 31, 2023
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories consisted of the following (in millions): March 31, December 31, Raw materials $ 1,114.4 $ 1,140.6 Partially finished products 403.4 383.1 Finished products 388.1 341.9 $ 1,905.9 $ 1,865.6

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	3 Months Ended
Property, Plant and Equipment (Tables)	Mar. 31, 2023
Property, Plant and Equipment [Abstract]
Schedule of Property, Plant and Equipment	Property, plant and equipment consisted of the following (in millions): March 31, December 31, Land and land improvements $ 80.3 $ 74.9 Buildings 460.2 441.6 Machinery and equipment 857.5 841.9 Software and related costs 205.9 201.5 Equipment on operating lease to others 10.2 10.2 Construction in progress 259.5 234.3 1,873.6 1,804.4 Less accumulated depreciation ( 1,002.1 ) ( 978.2 ) $ 871.5 $ 826.2

Goodwill and Purchased Intang_2

Goodwill and Purchased Intangible Assets (Tables)	3 Months Ended
Goodwill and Purchased Intangible Assets (Tables)	Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Changes in Goodwill	The following table presents changes in goodwill during the three months ended March 31, 2023 (in millions): Access Defense Vocational Total Net goodwill at December 31, 2022 $ 865.8 $ 44.4 $ 131.8 $ 1,042.0 Foreign currency translation 1.7 — — 1.7 Acquisition 85.5 — — 85.5 Net goodwill at March 31, 2023 $ 953.0 $ 44.4 $ 131.8 $ 1,129.2
Schedule of Company's Goodwill Allocated to the Reportable Segments	The following table presents details of the Company’s goodwill allocated to the reportable segments (in millions): March 31, 2023 December 31, 2022 Gross Accumulated Net Gross Accumulated Net Access $ 1,885.1 $ ( 932.1 ) $ 953.0 $ 1,797.9 $ ( 932.1 ) $ 865.8 Defense 44.4 — 44.4 44.4 — 44.4 Vocational 301.2 ( 169.4 ) 131.8 303.5 ( 171.7 ) 131.8 $ 2,230.7 $ ( 1,101.5 ) $ 1,129.2 $ 2,145.8 $ ( 1,103.8 ) $ 1,042.0
Schedule of Purchased Intangible Assets	Details of the Company’s total purchased intangible assets are as follows (in millions): March 31, 2023 Weighted- Gross Accumulated Net Amortizable intangible assets: Distribution network 39.2 $ 55.3 $ ( 37.3 ) $ 18.0 Technology-related 11.7 137.7 ( 102.4 ) 35.3 Customer relationships 12.5 601.8 ( 559.2 ) 42.6 Other 10.3 44.2 ( 16.9 ) 27.3 14.0 839.0 ( 715.8 ) 123.2 Non-amortizable trade names 412.9 — 412.9 $ 1,251.9 $ ( 715.8 ) $ 536.1 December 31, 2022 Weighted- Gross Accumulated Net Amortizable intangible assets: Distribution network 39.2 $ 55.3 $ ( 37.0 ) $ 18.3 Technology-related 12.0 108.3 ( 104.4 ) 3.9 Customer relationships 12.6 576.6 ( 557.3 ) 19.3 Other 10.9 50.2 ( 22.1 ) 28.1 14.2 790.4 ( 720.8 ) 69.6 Non-amortizable trade names 387.4 — 387.4 $ 1,177.8 $ ( 720.8 ) $ 457.0

Credit Agreements (Tables)

Credit Agreements (Tables)	3 Months Ended
Credit Agreements (Tables)	Mar. 31, 2023
Debt Disclosure [Abstract]
Schedule of Debt Instruments	The Company was obligated under the following debt instruments (in millions): March 31, 2023 Principal Debt Issuance Costs Debt, Net 4.600 % Senior notes due May 2028 $ 300.0 $ ( 2.0 ) $ 298.0 3.100 % Senior notes due March 2030 300.0 ( 2.8 ) 297.2 $ 600.0 $ ( 4.8 ) $ 595.2 Other short-term debt $ 2.1 December 31, 2022 Principal Debt Issuance Costs Debt, Net 4.600 % Senior notes due May 2028 300.0 ( 2.1 ) 297.9 3.100 % Senior notes due March 2030 300.0 ( 2.9 ) 297.1 $ 600.0 $ ( 5.0 ) $ 595.0 Other short-term debt $ 9.7

Warranties (Tables)

Warranties (Tables)	3 Months Ended
Warranties (Tables)	Mar. 31, 2023
Product Warranties Disclosures [Abstract]
Schedule of Changes in Warranty Liability and Unearned Extended Warranty Premiums	Changes in the Company’s service-type warranties were as follows (in millions): Three Months Ended 2023 2022 Balance at beginning of period $ 76.1 $ 66.9 Deferred revenue for new service warranties 9.0 7.2 Amortization of deferred revenue ( 6.5 ) ( 4.8 ) Foreign currency translation 0.1 ( 0.2 ) Balance at end of period $ 78.7 $ 69.1 Changes in the Company’s assurance-type warranty liability were as follows (in millions): Three Months Ended 2023 2022 Balance at beginning of period $ 58.8 $ 65.7 Warranty provisions 14.9 11.1 Settlements made ( 12.4 ) ( 13.6 ) Changes in liability for pre-existing warranties, net ( 0.7 ) ( 1.6 ) Disposition of business ( 0.5 ) — Acquisition of business 0.2 — Balance at end of period $ 60.3 $ 61.6

Guarantee Arrangements (Tables)

Guarantee Arrangements (Tables)	3 Months Ended
Guarantee Arrangements (Tables)	Mar. 31, 2023
Non-Contingent Portion
Guarantor Obligations [Line Items]
Schedule of Provision for Losses on Customer Guarantees	Changes in the Company’s stand ready obligations (non-contingent) to perform under guarantees were as follows (in millions): Three Months Ended 2023 2022 Balance at beginning of period $ 12.2 $ 12.1 Provision for new credit guarantees 0.8 1.0 Changes for pre-existing guarantees, net — ( 2.5 ) Amortization of previous guarantees ( 0.8 ) ( 0.5 ) Balance at end of period $ 12.2 $ 10.1
Contingent Portion
Guarantor Obligations [Line Items]
Schedule of Provision for Losses on Customer Guarantees	Changes in the Company’s off-balance sheet credit loss exposure (contingent) related to its guarantees were as follows (in millions): Three Months Ended 2023 2022 Balance at beginning of period $ 6.3 $ 4.0 Provision for new credit guarantees 0.5 0.6 Changes in allowance for pre-existing guarantees, net ( 0.7 ) 5.0 Foreign currency translation 0.1 0.1 Balance at end of period $ 6.2 $ 9.7

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	3 Months Ended
Accumulated Other Comprehensive Income (Loss) (Tables)	Mar. 31, 2023
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of Changes in Accumulated Other Comprehensive Income (Loss) by Component	Changes in accumulated other comprehensive income (loss) by component were as follows (in millions): Three Months Ended March 31, 2023 Employee Pension and Cumulative Derivative Accumulated Other Balance at beginning of period $ 31.1 $ ( 131.6 ) $ 8.2 $ ( 92.3 ) Other comprehensive income (loss) before reclassifications — 10.4 0.2 10.6 Amounts reclassified from accumulated other comprehensive income (loss) ( 0.4 ) 1.0 ( 2.2 ) ( 1.6 ) Net current period other comprehensive income (loss) ( 0.4 ) 11.4 ( 2.0 ) 9.0 Balance at end of period $ 30.7 $ ( 120.2 ) $ 6.2 $ ( 83.3 ) Three Months Ended March 31, 2022 Employee Pension and Cumulative Derivative Accumulated Other Balance at beginning of period $ ( 25.6 ) $ ( 105.2 ) $ 2.2 $ ( 128.6 ) Other comprehensive income (loss) before reclassifications — ( 6.5 ) 0.9 ( 5.6 ) Amounts reclassified from accumulated other comprehensive income (loss) 0.4 — ( 0.1 ) 0.3 Net current period other comprehensive income (loss) 0.4 ( 6.5 ) 0.8 ( 5.3 ) Balance at end of period $ ( 25.2 ) $ ( 111.7 ) $ 3.0 $ ( 133.9 )
Schedule of Reclassifications Out of Accumulated Other Comprehensive Income (Loss) Included in the Computation of Net Periodic Pension and Postretirement Benefit Cost	Reclassifications out of accumulated other comprehensive income (loss) included in the computation of net periodic pension and postretirement benefit cost (See Note 4 of the Notes to Condensed Consolidated Financial Statements for additional details regarding employee benefit plans) were as follows (in millions): Classification of Three Months Ended 2023 2022 Amortization of employee pension and postretirement benefits items Prior service costs Miscellaneous, net $ 0.1 $ 0.2 Actuarial losses Miscellaneous, net ( 0.6 ) 0.3 Total before tax ( 0.5 ) 0.5 Tax expense (benefit) 0.1 ( 0.1 ) Net of tax $ ( 0.4 ) $ 0.4

Fair Value Measurement (Tables)

Fair Value Measurement (Tables)	3 Months Ended
Fair Value Measurement (Tables)	Mar. 31, 2023
Fair Value Disclosures [Abstract]
Schedule of Fair Values of Financial Assets and Liabilities	The fair value of the Company’s financial assets and liabilities were as follows (in millions): Level 1 Level 2 Level 3 Total March 31, 2023 Assets: SERP plan assets (a) $ 13.9 $ — $ — $ 13.9 Investment in equity securities (b) 3.1 — — 3.1 Foreign currency exchange derivatives (c) — 9.6 — 9.6 Liabilities: Foreign currency exchange derivatives (c) $ — $ 0.9 $ — $ 0.9 December 31, 2022 Assets: SERP plan assets (a) $ 13.8 $ — $ — $ 13.8 Investment in equity securities (b) 3.8 — — 3.8 Foreign currency exchange derivatives (c) — 12.7 — 12.7 Liabilities: Foreign currency exchange derivatives (c) $ — $ 1.6 $ — $ 1.6 (a) Represents investments held in a rabbi trust for the Company’s non-qualified supplemental executive retirement plan (SERP). The fair values of these investments are determined using a market approach. Investments include mutual funds for which quoted prices in active markets are available. The Company records changes in the fair value of investments in “Miscellaneous, net” in the Condensed Consolidated Statements of Income. (b) Represents investments in equity securities for which quoted prices in active markets are available. The Company records changes in the fair value of investments in “Miscellaneous, net” in the Condensed Consolidated Statements of Income. (c) Based on observable market transactions of forward currency prices.

Business Segment Information (T

Business Segment Information (Tables)	3 Months Ended
Business Segment Information (Tables)	Mar. 31, 2023
Segment Reporting [Abstract]
Schedule of Net Sales by Product Lines and Reportable Segments	Selected financial information concerning the Company’s reportable segments and product lines is as follows (in millions): Three Months Ended March 31, 2023 2022 External Inter- Net External Inter- Net Net sales: Access Aerial work platforms $ 602.0 $ — $ 602.0 $ 439.7 $ — $ 439.7 Telehandlers 341.4 — 341.4 229.7 — 229.7 Other 249.8 — 249.8 213.6 0.1 213.7 Total Access 1,193.2 — 1,193.2 883.0 0.1 883.1 Defense 512.8 0.3 513.1 535.2 0.4 535.6 Vocational Fire apparatus 288.4 — 288.4 279.9 — 279.9 Refuse collection 141.9 — 141.9 129.3 — 129.3 Other 131.7 0.7 132.4 118.3 1.8 120.1 Total Vocational 562.0 0.7 562.7 527.5 1.8 529.3 Corporate and intersegment eliminations 0.1 ( 1.0 ) ( 0.9 ) — ( 2.3 ) ( 2.3 ) Consolidated $ 2,268.1 $ — $ 2,268.1 $ 1,945.7 $ — $ 1,945.7
Schedule of Income (Loss) from Continuing Operations by Product Lines and Reportable Segments	Three Months Ended 2023 2022 Operating income (loss): Access $ 135.0 $ 5.7 Defense 1.7 19.4 Vocational 28.1 41.0 Corporate ( 34.0 ) ( 34.3 ) Consolidated 130.8 31.8 Interest expense, net of interest income ( 7.2 ) ( 11.6 ) Miscellaneous other income 5.8 1.1 Income before income taxes and losses of unconsolidated affiliates $ 129.4 $ 21.3
Schedule of Identifiable Assets by Business Segments and by Geographical Areas	March 31, December 31, Identifiable assets: Access: U.S. $ 2,712.8 $ 2,493.0 Europe, Africa and Middle East 691.6 562.2 Rest of the World 430.8 428.4 Total Access 3,835.2 3,483.6 Defense: U.S. 2,077.0 2,060.0 Rest of the World 6.8 6.9 Total Defense 2,083.8 2,066.9 Vocational: U.S. 1,102.0 1,063.4 Rest of the World 36.5 64.6 Total Vocational 1,138.5 1,128.0 Corporate - U.S. (a) 858.9 1,050.5 Consolidated $ 7,916.4 $ 7,729.0 (a) Primarily includes cash and short-term investments and the Company’s global headquarters.
Schedule of Net Sales by Geographical Areas	The following table presents net sales by geographic region based on product shipment destination (in millions): Three Months Ended March 31, 2023 Access Defense Vocational Eliminations Total Net sales: North America $ 948.6 $ 427.6 $ 553.4 $ ( 0.9 ) $ 1,928.7 Europe, Africa and Middle East 136.7 85.3 1.7 — 223.7 Rest of the World 107.9 0.2 7.6 — 115.7 Consolidated $ 1,193.2 $ 513.1 $ 562.7 $ ( 0.9 ) $ 2,268.1 Three Months Ended March 31, 2022 Access Defense Vocational Eliminations Total Net sales: North America $ 732.9 $ 524.3 $ 514.7 $ ( 2.3 ) $ 1,769.6 Europe, Africa and Middle East 81.0 11.0 0.9 — 92.9 Rest of the World 69.2 0.3 13.7 — 83.2 Consolidated $ 883.1 $ 535.6 $ 529.3 $ ( 2.3 ) $ 1,945.7

Basis of Presentation - Additio

Basis of Presentation - Additional Information (Details) € in Millions, $ in Millions			3 Months Ended	12 Months Ended
	Jan. 31, 2023 USD ($)	Jan. 31, 2023 EUR (€)	Mar. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Mar. 01, 2023 USD ($)
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Valuation of intangible assets			$ 536.1	$ 457
Estimated average life			14 years	14 years 2 months 12 days
Valuation of intangible assets with indefinite life			$ 412.9	$ 387.4
Goodwill			1,129.2	1,042
Vocational
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Goodwill			131.8	$ 131.8
Hinowa S.p.A.
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Purchase price	$ 186.9	€ 171.9
Consideration paid in cash	187.9
Amount receivable for post closing working capital adjustments	1
Sales of acquiree			14.6
Valuation of intangible assets	$ 57.5
Estimated average life	11 years	11 years
Valuation of intangible assets with indefinite life	$ 26.4
Goodwill	$ 85.5
Transaction costs related to acquisition			0.6
Rear Discharge Concrete Mixers
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Sale of business, amount					$ 32.9
Rear Discharge Concrete Mixers \| Vocational
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Sales			25.9
Rear Discharge Concrete Mixers \| Selling, General and Administrative Expense
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Pre-tax loss			$ 13.3

Basis of Presentation - Summary

Basis of Presentation - Summary of Fair Values of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Millions	Mar. 31, 2023	Jan. 31, 2023	Dec. 31, 2022
Assets Acquired:
Goodwill	$ 1,129.2		$ 1,042
Hinowa S.p.A.
Assets Acquired:
Current assets, excluding cash of $13.7 million		$ 53.1
Property, plant and equipment		14.5
Goodwill		85.5
Purchased intangible assets		83.9
Other long-term assets		4.8
Total assets		241.8
Liabilities Assumed:
Current liabilities		50.1
Long-term liabilities		4.8
Total liabilities		54.9
Net assets acquired		$ 186.9

Basis of Presentation - Summa_2

Basis of Presentation - Summary of Fair Values of Assets Acquired and Liabilities (Parenthetical) (Details) $ in Millions	Jan. 31, 2023 USD ($)
Hinowa S.p.A.
Current assets, cash	$ 13.7

Revenue Recognition - Schedule

Revenue Recognition - Schedule of Impact Due to Contract Adjustments (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Disaggregation of Revenue [Abstract]
Net sales	$ (6.5)	$ (7.9)
Operating income	(14.4)	(10.6)
Net income	$ (11)	$ (8.1)
Diluted earnings per share	$ (0.17)	$ (0.12)

Revenue Recognition - Additiona

Revenue Recognition - Additional Information (Details) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Disaggregation Of Revenue [Line Items]
Impairment losses on contract assets	$ 0	$ 0
Contract Fulfilment or Customer-owned Tooling Costs
Disaggregation Of Revenue [Line Items]
Impairment losses on contract assets	0	0
Pierce
Disaggregation Of Revenue [Line Items]
Interest charges on customer advances	$ 6,300,000	$ 5,000,000

Revenue Recognition - Schedul_2

Revenue Recognition - Schedule of Deferred Contract Costs (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Capitalized Contract Cost [Line Items]
Deferred contract costs	$ 485.9	$ 415.8
Costs for Anticipated Contracts
Capitalized Contract Cost [Line Items]
Deferred contract costs	5.7	6.8
Engineering Costs
Capitalized Contract Cost [Line Items]
Deferred contract costs	291.7	256.1
Factory Setup Costs
Capitalized Contract Cost [Line Items]
Deferred contract costs	20.7	16.4
Customer-owned Tooling
Capitalized Contract Cost [Line Items]
Deferred contract costs	167.8	136.5
Deferred contract costs
Capitalized Contract Cost [Line Items]
Deferred contract costs	$ 485.9	$ 415.8

Revenue Recognition - Disaggreg

Revenue Recognition - Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Disaggregation Of Revenue [Line Items]
Net sales	$ 2,268.1	$ 1,945.7
Operating Segments
Disaggregation Of Revenue [Line Items]
Net sales	2,268.1	1,945.7
Intersegment Eliminations
Disaggregation Of Revenue [Line Items]
Net sales	(0.9)	(2.3)
Transferred at Point in Time
Disaggregation Of Revenue [Line Items]
Net sales	1,630.3	1,306.6
Transferred at Point in Time \| Intersegment Eliminations
Disaggregation Of Revenue [Line Items]
Net sales	(0.9)	(2.3)
Transferred over Time
Disaggregation Of Revenue [Line Items]
Net sales	637.8	639.1
Access
Disaggregation Of Revenue [Line Items]
Net sales	1,193.2	883
Access \| Operating Segments
Disaggregation Of Revenue [Line Items]
Net sales	1,193.2	883.1
Access \| Intersegment Eliminations
Disaggregation Of Revenue [Line Items]
Net sales		0.1
Access \| Transferred at Point in Time \| Operating Segments
Disaggregation Of Revenue [Line Items]
Net sales	1,180.5	869.9
Access \| Transferred over Time \| Operating Segments
Disaggregation Of Revenue [Line Items]
Net sales	12.7	13.2
Defense
Disaggregation Of Revenue [Line Items]
Net sales	512.8	535.2
Defense \| Operating Segments
Disaggregation Of Revenue [Line Items]
Net sales	513.1	535.6
Defense \| Intersegment Eliminations
Disaggregation Of Revenue [Line Items]
Net sales	0.3	0.4
Defense \| Transferred at Point in Time \| Operating Segments
Disaggregation Of Revenue [Line Items]
Net sales	3.5	2.1
Defense \| Transferred over Time \| Operating Segments
Disaggregation Of Revenue [Line Items]
Net sales	509.6	533.5
Vocational
Disaggregation Of Revenue [Line Items]
Net sales	562	527.5
Vocational \| Operating Segments
Disaggregation Of Revenue [Line Items]
Net sales	562.7	529.3
Vocational \| Intersegment Eliminations
Disaggregation Of Revenue [Line Items]
Net sales	0.7	1.8
Vocational \| Transferred at Point in Time \| Operating Segments
Disaggregation Of Revenue [Line Items]
Net sales	447.2	436.9
Vocational \| Transferred over Time \| Operating Segments
Disaggregation Of Revenue [Line Items]
Net sales	$ 115.5	$ 92.4

Revenue Recognition - Schedul_3

Revenue Recognition - Schedule of Contract Liabilities (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Contract with Customer, Liability [Abstract]
Customer advances	$ 688.9	$ 696.7
Other current liabilities	74.7	77.4
Long-term customer advances	1,110.6	1,020.5
Other long-term liabilities	65.5	66.8
Total contract liabilities	$ 1,939.7	$ 1,861.4

Revenue Recognition - Schedul_4

Revenue Recognition - Schedule of Contract Liabilities Recognized in Revenue (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Contract with Customer, Liability [Abstract]
Beginning liabilities recognized in revenue	$ 189.2	$ 118.3

Revenue Recognition - Schedul_5

Revenue Recognition - Schedule of Changes in Warranty Liability and Unearned Extended Warranty Premiums (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Disaggregation of Revenue [Abstract]
Balance at beginning of period	$ 76.1	$ 66.9
Deferred revenue for new service warranties	9	7.2
Amortization of deferred revenue	(6.5)	(4.8)
Foreign currency translation	0.1	(0.2)
Balance at end of period	$ 78.7	$ 69.1

Revenue Recognition - Schedul_6

Revenue Recognition - Schedule of Classification of Service-type Warranties in Condensed Consolidated Balance Sheets (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2021
Extended Product Warranty Accrual, Balance Sheet Classification [Abstract]
Service-type warranties, other current liabilities	$ 26.4	$ 26.8
Service-type warranties, other long-term liabilities	52.3	49.3
Service-type warranties	$ 78.7	$ 76.1	$ 69.1	$ 66.9

Revenue Recognition - Additio_2

Revenue Recognition - Additional Information (Details 1) $ in Millions	Mar. 31, 2023 USD ($)
Disaggregation of Revenue [Abstract]
Revenue, Remaining Performance Obligation, Amount	$ 9,830
Transaction price allocated to performance obligations to be satisfied during remaining fiscal 2023	2,080
Transaction price allocated to performance obligations to be satisfied during fiscal 2024	2,760
Transaction price allocated to performance obligations to be satisfied revenue after fiscal 2024	$ 4,990

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Share-Based Payment Arrangement [Abstract]
Common stock reserved for issuance stock awards (in shares)	2,840,963
Stock-based compensation expense	$ 6.8	$ 6.5
Stock-based compensation expense, net of tax	$ 5.8	$ 5.5

Employee Benefit Plans - Schedu

Employee Benefit Plans - Schedule of Net Periodic Benefit Cost (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Pension Benefit
Components of net periodic benefit cost
Service cost	$ 1.7	$ 2.6
Interest cost	$ 4.1	$ 4.3
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Interest Cost, Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, after Tax	Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, after Tax
Expected return on plan assets	$ (4.8)	$ (5.2)
Defined Benefit Plan, Net Periodic Benefit (Cost) Credit, Expected Return (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, after Tax	Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, after Tax
Amortization of prior service cost (benefit)	$ 0.5	$ 0.5
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Amortization of Prior Service Cost (Credit), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, after Tax	Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, after Tax
Amortization of net actuarial loss (gain)	$ (0.6)	$ 0.2
Defined Benefit Plan, Net Periodic Benefit (Cost) Credit, Amortization of Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, after Tax	Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, after Tax
Expenses paid	$ 0.2	$ 0.8
Net periodic benefit cost	1.1	3.2
Other Post-employment Benefit
Components of net periodic benefit cost
Service cost	0.4	0.6
Interest cost	$ 0.5	$ 0.3
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Interest Cost, Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, after Tax	Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, after Tax
Amortization of prior service cost (benefit)	$ (0.4)	$ (0.3)
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Amortization of Prior Service Cost (Credit), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, after Tax	Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, after Tax
Amortization of net actuarial loss (gain)		$ 0.1
Defined Benefit Plan, Net Periodic Benefit (Cost) Credit, Amortization of Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, after Tax	Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, after Tax
Net periodic benefit cost	$ 0.5	$ 0.7

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Line Items]
Income tax expense	$ 34.2	$ 20.8
Effective income tax rate (as a percent)	26.40%	97.70%
Income tax expense (benefits), tax credit, discrete items	$ 3.4	$ 15.4
Charge related to a valuation allowance	1.7
Income tax expense (benefit) related to taxes on income in prior periods		18.1
Income tax benefit for foreign tax credit valuation allowance		3.8
Unrecognized tax benefits	93.8			$ 98.8
Net unrecognized tax benefits, excluding interest and penalties that would affect the company's net income if recognized	54.3
Interest and penalties	0.9	$ 0.6
Accruals for payment of interest and penalties	$ 5.7
Scenario Forecast
Income Tax Disclosure [Line Items]
Significant change in unrecognized tax benefits is reasonably possible, amount of unrecorded benefit			$ 5.5

Earnings Per Share - Schedule o

Earnings Per Share - Schedule of Earnings Per Share, Basic and Diluted (Details) - shares	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Weighted-Average Common Shares Outstanding
Basic weighted-average common shares outstanding	65,440,014	66,394,041
Dilutive stock options and other equity-based compensation awards	390,971
Diluted weighted-average common shares outstanding	65,830,985	66,394,041

Earnings Per Share - Schedule_2

Earnings Per Share - Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share (Details)	3 Months Ended
	Mar. 31, 2022 shares
Earnings Per Share [Abstract]
Shares for stock-based compensation	522,003

Receivables - Schedule of Recei

Receivables - Schedule of Receivables (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2021
Receivables [Abstract]
Trade receivables - U.S. government	$ 124.7	$ 135.3
Trade receivables - other	1,135.8	979.5
Finance receivables	8.3	7.3
Notes receivable	7.6
Other receivables	58	53.3
Receivables, gross	1,334.4	1,175.4
Less allowance for doubtful accounts	(7.1)	(6.7)	$ (5.9)	$ (4.2)
Receivables, net	$ 1,327.3	$ 1,168.7

Receivables - Schedule of Class

Receivables - Schedule of Classification of Receivables in the Condensed Consolidated Balance Sheets (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Classification of receivables
Current receivables	$ 1,311.7	$ 1,162
Long-term receivables	15.6	6.7
Receivables, net	$ 1,327.3	$ 1,168.7

Receivables - Schedule of Allow

Receivables - Schedule of Allowance for Doubtful Accounts (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Accounts Notes And Loans Receivable [Line Items]
Allowance at beginning of period	$ 6.7	$ 4.2
Provision for doubtful accounts, net of recoveries	0.4	1.7
Allowance at end of period	7.1	5.9
Finance Receivables
Accounts Notes And Loans Receivable [Line Items]
Allowance at beginning of period	0.1	0.5
Provision for doubtful accounts, net of recoveries	0.1	(0.1)
Allowance at end of period	0.2	0.4
Trade and Other Receivables
Accounts Notes And Loans Receivable [Line Items]
Allowance at beginning of period	6.6	3.7
Provision for doubtful accounts, net of recoveries	0.3	1.8
Allowance at end of period	$ 6.9	$ 5.5

Inventories - Schedule of Inven

Inventories - Schedule of Inventories (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Raw materials	$ 1,114.4	$ 1,140.6
Partially finished products	403.4	383.1
Finished products	388.1	341.9
Inventory net	$ 1,905.9	$ 1,865.6

Property, Plant and Equipment -

Property, Plant and Equipment - Schedule of Property, Plant and Equipment (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	$ 1,873.6	$ 1,804.4
Less accumulated depreciation	(1,002.1)	(978.2)
Property, plant and equipment, net	871.5	826.2
Land and Land Improvements
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	80.3	74.9
Buildings
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	460.2	441.6
Machinery and Equipment
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	857.5	841.9
Software and Related Costs
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	205.9	201.5
Equipment on Operating Lease to Others
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	10.2	10.2
Construction in Progress
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	$ 259.5	$ 234.3

Property, Plant and Equipment_2

Property, Plant and Equipment - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Property Plant And Equipment [Line Items]
Depreciation expenses	$ 23.3	$ 20.7
Equipment on Operating Lease to Others
Property Plant And Equipment [Line Items]
Equipment on operating lease, net	$ 9.1		$ 9.3
Equipment on Operating Lease to Others \| Minimum
Property Plant And Equipment [Line Items]
Estimated useful life (in years)	5 years
Equipment on Operating Lease to Others \| Maximum
Property Plant And Equipment [Line Items]
Estimated useful life (in years)	10 years

Goodwill and Purchased Intang_3

Goodwill and Purchased Intangible Assets - Additional Information (Details) $ in Millions	Mar. 31, 2023 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2023 (remaining nine months)	$ 9.7
2024	12.7
2025	12.6
2026	12.6
2027	12.6
2028	$ 10.1

Goodwill and Purchased Intang_4

Goodwill and Purchased Intangible Assets - Schedule of Changes in Goodwill (Details) $ in Millions	3 Months Ended
	Mar. 31, 2023 USD ($)
Changes in goodwill
Net goodwill at the beginning of the period	$ 1,042
Foreign currency translation	1.7
Acquisition	85.5
Net goodwill at the end of the period	1,129.2
Access
Changes in goodwill
Net goodwill at the beginning of the period	865.8
Foreign currency translation	1.7
Acquisition	85.5
Net goodwill at the end of the period	953
Defense
Changes in goodwill
Net goodwill at the beginning of the period	44.4
Net goodwill at the end of the period	44.4
Vocational
Changes in goodwill
Net goodwill at the beginning of the period	131.8
Net goodwill at the end of the period	$ 131.8

Goodwill and Purchased Intang_5

Goodwill and Purchased Intangible Assets - Goodwill Allocated to Reportable Segments (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Goodwill [Line Items]
Gross	$ 2,230.7	$ 2,145.8
Accumulated Impairment	(1,101.5)	(1,103.8)
Net	1,129.2	1,042
Access
Goodwill [Line Items]
Gross	1,885.1	1,797.9
Accumulated Impairment	(932.1)	(932.1)
Net	953	865.8
Defense
Goodwill [Line Items]
Gross	44.4	44.4
Net	44.4	44.4
Vocational
Goodwill [Line Items]
Gross	301.2	303.5
Accumulated Impairment	(169.4)	(171.7)
Net	$ 131.8	$ 131.8

Goodwill and Purchased Intang_6

Goodwill and Purchased Intangible Assets - Schedule of Purchased Intangible Assets (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Acquired Finite Lived Intangible Assets [Line Items]
Weighted- Average Life (in years)	14 years	14 years 2 months 12 days
Gross	$ 839	$ 790.4
Accumulated Amortization	(715.8)	(720.8)
Net	123.2	69.6
Non-amortizable trade names	412.9	387.4
Intangible assets excluding goodwill, gross	1,251.9	1,177.8
Purchased intangible assets, net	$ 536.1	$ 457
Distribution network
Acquired Finite Lived Intangible Assets [Line Items]
Weighted- Average Life (in years)	39 years 2 months 12 days	39 years 2 months 12 days
Gross	$ 55.3	$ 55.3
Accumulated Amortization	(37.3)	(37)
Net	$ 18	$ 18.3
Technology-related
Acquired Finite Lived Intangible Assets [Line Items]
Weighted- Average Life (in years)	11 years 8 months 12 days	12 years
Gross	$ 137.7	$ 108.3
Accumulated Amortization	(102.4)	(104.4)
Net	$ 35.3	$ 3.9
Customer relationships
Acquired Finite Lived Intangible Assets [Line Items]
Weighted- Average Life (in years)	12 years 6 months	12 years 7 months 6 days
Gross	$ 601.8	$ 576.6
Accumulated Amortization	(559.2)	(557.3)
Net	$ 42.6	$ 19.3
Other
Acquired Finite Lived Intangible Assets [Line Items]
Weighted- Average Life (in years)	10 years 3 months 18 days	10 years 10 months 24 days
Gross	$ 44.2	$ 50.2
Accumulated Amortization	(16.9)	(22.1)
Net	$ 27.3	$ 28.1

Credit Agreements - Schedule of

Credit Agreements - Schedule of Debt Instruments (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Principal	$ 600	$ 600
Debt issuance costs	(4.8)	(5)
Debt, net	595.2	595
Other short-term debt	2.1	9.7
4.600% Senior Notes due May 2028
Debt Instrument [Line Items]
Principal	300	300
Debt issuance costs	(2)	(2.1)
Debt, net	298	297.9
3.100% Senior Notes due March 2030
Debt Instrument [Line Items]
Principal	300	300
Debt issuance costs	(2.8)	(2.9)
Debt, net	$ 297.2	$ 297.1

Credit Agreements - Schedule _2

Credit Agreements - Schedule of Debt Instruments (Parenthetical) (Details)	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022	Feb. 29, 2020	May 31, 2018
4.600% Senior Notes due May 2028
Debt Instrument [Line Items]
Debt instrument interest rate, stated percentage	4.60%	4.60%		4.60%
Maturity month and year	2028-05	2028-05
3.100% Senior Notes due March 2030
Debt Instrument [Line Items]
Debt instrument interest rate, stated percentage	3.10%	3.10%	3.10%
Maturity month and year	2030-03	2030-03

Credit Agreements - Additional

Credit Agreements - Additional Information (Details) € in Millions, ¥ in Millions, $ in Millions				1 Months Ended		3 Months Ended		12 Months Ended
	Feb. 28, 2023 USD ($)	Feb. 28, 2023 EUR (€)	Mar. 23, 2022 USD ($)	Feb. 29, 2020 USD ($)	May 31, 2018 USD ($)	Mar. 31, 2023 USD ($)	Mar. 31, 2022 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2022 CNY (¥)	Mar. 31, 2023 EUR (€)	Jan. 31, 2023 USD ($)	Jan. 31, 2023 EUR (€)	Sep. 30, 2022 CNY (¥)	Mar. 31, 2022 CNY (¥)
Debt Instrument [Line Items]
Letters of credit outstanding						$ 10.8
Maximum leverage ratio						0.0375				0.0375
Debt outstanding						$ 595.2		$ 595
Repayments of debt						25	$ 225
Hinowa S.p.A.
Debt Instrument [Line Items]
Debt outstanding						$ 2.1				€ 2	$ 17.7	€ 16.3
Repayments of debt	$ 15.5	€ 14.3
Weighted average interest rate of debt outstanding						1%				1%
Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity			$ 1,100
Maturity month and year			2027-03
Available borrowing capacity						$ 1,090
Letter of Credit
Debt Instrument [Line Items]
Letter of credit fees percentage on available borrowing capacity, low end of range (as a percent)						0.4375%
Letter of credit fees percentage on available borrowing capacity, high end of range (as a percent)						1.50%
Senior Credit Agreement
Debt Instrument [Line Items]
Interest spread in basis points (as a percent)						1.125%
Minimum interest coverage ratio						0.0425				0.0425
Senior Credit Agreement \| Minimum
Debt Instrument [Line Items]
Revolving credit facility, unused commitment fee rate (as a percent)						0.08%
Senior Credit Agreement \| Maximum
Debt Instrument [Line Items]
Revolving credit facility, unused commitment fee rate (as a percent)						0.225%
Senior Credit Agreement \| Federal Funds Rate
Debt Instrument [Line Items]
Interest spread in basis points (as a percent)						0.50%
Senior Credit Agreement \| Term SOFR
Debt Instrument [Line Items]
Interest spread in basis points (as a percent)						1%
4.600% Senior Notes due May 2028
Debt Instrument [Line Items]
Maturity month and year						2028-05		2028-05	2028-05
Debt outstanding						$ 298		$ 297.9
Long term debt
Debt issued					$ 300
Debt instrument interest rate, stated percentage					4.60%	4.60%		4.60%		4.60%
Maturity date					May 15, 2028
Debt instruments
Debt instrument, fair value						$ 295		$ 285
3.100% Senior Notes due March 2030
Debt Instrument [Line Items]
Maturity month and year						2030-03		2030-03	2030-03
Debt outstanding						$ 297.2		$ 297.1
Long term debt
Debt issued				$ 300
Debt instrument interest rate, stated percentage				3.10%		3.10%		3.10%		3.10%
Maturity date				Mar. 01, 2030
Debt instruments
Debt instrument, fair value						$ 264		$ 254
100.0 Million Chinese Renminbi Uncommitted Line of Credit \| Uncommitted Line of Credit
Debt Instrument [Line Items]
Available borrowing capacity						$ 0								¥ 100
Long term debt
Line of credit outstanding								1.8	¥ 12.6
Line of credit variable interest rate						3.60%				3.60%
220.0 Million Chinese Renminbi Uncommitted Line of Credit \| Uncommitted Line of Credit
Debt Instrument [Line Items]
Available borrowing capacity \| ¥													¥ 220
Long term debt
Line of credit outstanding								$ 7.8	¥ 54
Line of credit variable interest rate						4.20%				4.20%

Warranties - Additional Informa

Warranties - Additional Information (Details)	3 Months Ended
Warranties - Additional Information (Details)	Mar. 31, 2023
Minimum
Product Warranty Liability [Line Items]
Product warranty term	6 months
Maximum
Product Warranty Liability [Line Items]
Product warranty term	5 years

Warranties -Schedule of Changes

Warranties -Schedule of Changes in Assurance-type Warranty Liability (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Product Warranties Disclosures [Abstract]
Balance at beginning of period	$ 58.8	$ 65.7
Warranty provisions	14.9	11.1
Settlements made	(12.4)	(13.6)
Changes in liability for pre-existing warranties, net	(0.7)	(1.6)
Disposition of business	(0.5)
Acquisition of business	0.2
Balance at end of period	$ 60.3	$ 61.6

Guarantee Arrangements - Additi

Guarantee Arrangements - Additional Information (Details) $ in Millions	Mar. 31, 2023 USD ($)
Indirect Guarantee of Deferred Payment and Lease Payment Agreements
Guarantee Obligations [Line Items]
Aggregate indebtedness to customers under credit guarantees	$ 718
Estimated maximum loss exposure under contracts	119.3
Residual Value Guarantee
Guarantee Obligations [Line Items]
Estimated maximum loss exposure under contracts	12.8
Customer equipment value including a residual value guarantee	$ 120

Guarantee Arrangements - Schedu

Guarantee Arrangements - Schedule of Provision for Losses on Customer Guarantees (Details1) - Indirect Guarantee of Deferred Payment and Lease Payment Agreements - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Non-Contingent Portion
Guarantee Obligations [Line Items]
Balance at beginning of period	$ 12.2	$ 12.1
Provision for new credit guarantees	0.8	1
Changes for pre-existing guarantees, net		(2.5)
Amortization of previous guarantees	(0.8)	(0.5)
Balance at end of period	12.2	10.1
Contingent Portion
Guarantee Obligations [Line Items]
Balance at beginning of period	6.3	4
Provision for new credit guarantees	0.5	0.6
Changes for pre-existing guarantees, net	(0.7)	5
Foreign currency translation	0.1	0.1
Balance at end of period	$ 6.2	$ 9.7

Contingencies, Significant Es_2

Contingencies, Significant Estimates and Concentrations - Additional Information (Details) - USD ($)	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Personal Injury Actions and Other
Loss Contingencies [Line Items]
Maximum self-insurance available per claim	$ 5,000,000
Reserve for loss contingencies	41,900,000	$ 41,200,000
Performance and Specialty Bonds
Loss Contingencies [Line Items]
Commitments and contingencies	2,060,000,000	2,040,000,000
Standby Letters of Credit
Loss Contingencies [Line Items]
Commitments and contingencies	$ 13,500,000	$ 18,800,000

Shareholders' Equity - Addition

Shareholders' Equity - Additional information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	May 03, 2022	May 03, 2019
Stockholders' Equity Note [Abstract]
Number of shares of common stock authorized for buyback (in shares)			7,890,581
Remaining number of shares authorized to be repurchased (in shares)	11,377,508			4,109,419
Increased number of shares of common stock authorized for buyback			12,000,000
Treasury stock, shares, acquired (in shares)	173,169	751,309
Treasury stock, value, acquired, cost method	$ 15.2	$ 85

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) - Schedule of Changes in Accumulated Other Comprehensive Income (Loss) by Component (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance at beginning of period	$ 3,185.7
Total other comprehensive income (loss), net of tax	9	$ (5.3)
Balance at end of period	3,247.2
Employee Pension and Postretirement Benefits, Net of Tax
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance at beginning of period	31.1	(25.6)
Amounts reclassified from accumulated other comprehensive income (loss)	(0.4)	0.4
Total other comprehensive income (loss), net of tax	(0.4)	0.4
Balance at end of period	30.7	(25.2)
Cumulative Translation Adjustments
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance at beginning of period	(131.6)	(105.2)
Other comprehensive income (loss) before reclassifications	10.4	(6.5)
Amounts reclassified from accumulated other comprehensive income (loss)	1
Total other comprehensive income (loss), net of tax	11.4	(6.5)
Balance at end of period	(120.2)	(111.7)
Derivative Instruments, Net of Tax
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance at beginning of period	8.2	2.2
Other comprehensive income (loss) before reclassifications	0.2	0.9
Amounts reclassified from accumulated other comprehensive income (loss)	(2.2)	(0.1)
Total other comprehensive income (loss), net of tax	(2)	0.8
Balance at end of period	6.2	3
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance at beginning of period	(92.3)	(128.6)
Other comprehensive income (loss) before reclassifications	10.6	(5.6)
Amounts reclassified from accumulated other comprehensive income (loss)	(1.6)	0.3
Total other comprehensive income (loss), net of tax	9	(5.3)
Balance at end of period	$ (83.3)	$ (133.9)

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Income (Loss) - Schedule of Reclassifications Out of Accumulated Other Comprehensive Income (Loss) Included in Computation of Net Periodic Pension and Postretirement Benefit Cost (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Prior Service Costs
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Total before tax	$ 0.1	$ 0.2
Actuarial Losses
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Total before tax	(0.6)	0.3
Employee Pension and Postretirement Benefits, Net of Tax
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Total before tax	(0.5)	0.5
Tax expense (benefit)	0.1	(0.1)
Net of tax	$ (0.4)	$ 0.4

Fair Value Measurement - Schedu

Fair Value Measurement - Schedule of Fair Value of Financial Assets and Liabilities (Details) - USD ($) $ in Millions		Mar. 31, 2023	Dec. 31, 2022
Assets:
Investment in equity securities	[1]	$ 3.1	$ 3.8
Foreign currency exchange derivatives	[2]	9.6	12.7
Liabilities:
Foreign currency exchange derivatives	[2]	0.9	1.6
SERP Plan [Member]
Assets:
SERP plan assets	[3]	13.9	13.8
Level 1
Assets:
Investment in equity securities	[1]	3.1	3.8
Level 1 \| SERP Plan [Member]
Assets:
SERP plan assets	[3]	13.9	13.8
Level 2
Assets:
Foreign currency exchange derivatives	[2]	9.6	12.7
Liabilities:
Foreign currency exchange derivatives	[2]	$ 0.9	$ 1.6

[1] Represents investments in equity securities for which quoted prices in active markets are available. The Company records changes in the fair value of investments in “Miscellaneous, net” in the Condensed Consolidated Statements of Income. Based on observable market transactions of forward currency prices. Represents investments held in a rabbi trust for the Company’s non-qualified supplemental executive retirement plan (SERP). The fair values of these investments are determined using a market approach. Investments include mutual funds for which quoted prices in active markets are available. The Company records changes in the fair value of investments in “Miscellaneous, net” in the Condensed Consolidated Statements of Income.

Business Segment Information -

Business Segment Information - Additional Information (Details)	3 Months Ended
	Mar. 31, 2023 Segment
Segment Reporting [Abstract]
Number of reportable segments of entity (in segments)	3

Business Segment Information _2

Business Segment Information - Schedule of Net Sales by Product Lines and Reportable Segments (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Segment Reporting Information [Line Items]
Revenues	$ 2,268.1	$ 1,945.7
Access
Segment Reporting Information [Line Items]
Revenues	1,193.2	883
Access \| Aerial Work Platforms
Segment Reporting Information [Line Items]
Revenues	602	439.7
Access \| Telehandlers
Segment Reporting Information [Line Items]
Revenues	341.4	229.7
Access \| Other
Segment Reporting Information [Line Items]
Revenues	249.8	213.6
Defense
Segment Reporting Information [Line Items]
Revenues	512.8	535.2
Vocational
Segment Reporting Information [Line Items]
Revenues	562	527.5
Vocational \| Fire Apparatus
Segment Reporting Information [Line Items]
Revenues	288.4	279.9
Vocational \| Refuse Collection
Segment Reporting Information [Line Items]
Revenues	141.9	129.3
Vocational \| Other
Segment Reporting Information [Line Items]
Revenues	131.7	118.3
Corporate and Intersegment Eliminations
Segment Reporting Information [Line Items]
Revenues	0.1
Operating Segments
Segment Reporting Information [Line Items]
Revenues	2,268.1	1,945.7
Operating Segments \| Access
Segment Reporting Information [Line Items]
Revenues	1,193.2	883.1
Operating Segments \| Access \| Aerial Work Platforms
Segment Reporting Information [Line Items]
Revenues	602	439.7
Operating Segments \| Access \| Telehandlers
Segment Reporting Information [Line Items]
Revenues	341.4	229.7
Operating Segments \| Access \| Other
Segment Reporting Information [Line Items]
Revenues	249.8	213.7
Operating Segments \| Defense
Segment Reporting Information [Line Items]
Revenues	513.1	535.6
Operating Segments \| Vocational
Segment Reporting Information [Line Items]
Revenues	562.7	529.3
Operating Segments \| Vocational \| Fire Apparatus
Segment Reporting Information [Line Items]
Revenues	288.4	279.9
Operating Segments \| Vocational \| Refuse Collection
Segment Reporting Information [Line Items]
Revenues	141.9	129.3
Operating Segments \| Vocational \| Other
Segment Reporting Information [Line Items]
Revenues	132.4	120.1
Operating Segments \| Corporate and Intersegment Eliminations
Segment Reporting Information [Line Items]
Revenues	(0.9)	(2.3)
Intersegment Eliminations
Segment Reporting Information [Line Items]
Revenues	(0.9)	(2.3)
Intersegment Eliminations \| Access
Segment Reporting Information [Line Items]
Revenues		0.1
Intersegment Eliminations \| Access \| Other
Segment Reporting Information [Line Items]
Revenues		0.1
Intersegment Eliminations \| Defense
Segment Reporting Information [Line Items]
Revenues	0.3	0.4
Intersegment Eliminations \| Vocational
Segment Reporting Information [Line Items]
Revenues	0.7	1.8
Intersegment Eliminations \| Vocational \| Other
Segment Reporting Information [Line Items]
Revenues	0.7	1.8
Intersegment Eliminations \| Corporate and Intersegment Eliminations
Segment Reporting Information [Line Items]
Revenues	$ (1)	$ (2.3)

Business Segment Information _3

Business Segment Information - Schedule of Income (Loss) from Continuing operations by Product Lines and Reportable Segments (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Operating income (loss):
Operating income (loss)	$ 130.8	$ 31.8
Interest expense, net of interest income	(7.2)	(11.6)
Miscellaneous other income	5.8	1.1
Income before income taxes and losses of unconsolidated affiliates	129.4	21.3
Operating Segments \| Access
Operating income (loss):
Operating income (loss)	135	5.7
Operating Segments \| Defense
Operating income (loss):
Operating income (loss)	1.7	19.4
Operating Segments \| Vocational
Operating income (loss):
Operating income (loss)	28.1	41
Corporate, Non-segment
Operating income (loss):
Operating income (loss)	$ (34)	$ (34.3)

Business Segment Information _4

Business Segment Information - Schedule of Identifiable Assets by Business Segments and by Geographical Segments (Details) - USD ($) $ in Millions		Mar. 31, 2023	Dec. 31, 2022
Assets
Assets		$ 7,916.4	$ 7,729
Operating Segments
Assets
Assets		7,916.4	7,729
Operating Segments \| Access
Assets
Assets		3,835.2	3,483.6
Operating Segments \| Access \| United States
Assets
Assets		2,712.8	2,493
Operating Segments \| Access \| Europe, Africa and Middle East
Assets
Assets		691.6	562.2
Operating Segments \| Access \| Rest of the World
Assets
Assets		430.8	428.4
Operating Segments \| Defense
Assets
Assets		2,083.8	2,066.9
Operating Segments \| Defense \| United States
Assets
Assets		2,077	2,060
Operating Segments \| Defense \| Rest of the World
Assets
Assets		6.8	6.9
Operating Segments \| Vocational
Assets
Assets		1,138.5	1,128
Operating Segments \| Vocational \| United States
Assets
Assets		1,102	1,063.4
Operating Segments \| Vocational \| Rest of the World
Assets
Assets		36.5	64.6
Corporate, Non-segment \| United States
Assets
Assets	[1]	$ 858.9	$ 1,050.5

[1] Primarily includes cash and short-term investments and the Company’s global headquarters.

Business Segment Information _5

Business Segment Information - Schedule of Net Sales by Geographical Segments (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues	$ 2,268.1	$ 1,945.7
North America
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues	1,928.7	1,769.6
Europe, Africa and Middle East
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues	223.7	92.9
Rest of the World
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues	115.7	83.2
Operating Segments
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues	2,268.1	1,945.7
Intersegment Eliminations
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues	(0.9)	(2.3)
Intersegment Eliminations \| North America
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues	(0.9)	(2.3)
Access
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues	1,193.2	883
Access \| Operating Segments
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues	1,193.2	883.1
Access \| Operating Segments \| North America
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues	948.6	732.9
Access \| Operating Segments \| Europe, Africa and Middle East
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues	136.7	81
Access \| Operating Segments \| Rest of the World
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues	107.9	69.2
Access \| Intersegment Eliminations
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues		0.1
Defense
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues	512.8	535.2
Defense \| Operating Segments
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues	513.1	535.6
Defense \| Operating Segments \| North America
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues	427.6	524.3
Defense \| Operating Segments \| Europe, Africa and Middle East
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues	85.3	11
Defense \| Operating Segments \| Rest of the World
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues	0.2	0.3
Defense \| Intersegment Eliminations
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues	0.3	0.4
Vocational
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues	562	527.5
Vocational \| Operating Segments
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues	562.7	529.3
Vocational \| Operating Segments \| North America
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues	553.4	514.7
Vocational \| Operating Segments \| Europe, Africa and Middle East
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues	1.7	0.9
Vocational \| Operating Segments \| Rest of the World
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues	7.6	13.7
Vocational \| Intersegment Eliminations
Revenues From External Customers And Long Lived Assets [Line Items]
Revenues	$ 0.7	$ 1.8