Terex (TEX) 10-Q26 Apr 242024 Q1 Quarterly reportFinancial data

Company Profile

Cover

Cover - shares shares in Millions	3 Months Ended
Cover - shares shares in Millions	Mar. 31, 2024	Apr. 23, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2024
Document Transition Report	false
Entity File Number	1-10702
Entity Registrant Name	Terex Corporation
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	34-1531521
Entity Address, Address Line One	45 Glover Ave, 4th Floor
Entity Address, City or Town	Norwalk
Entity Address, State or Province	CT
Entity Address, Postal Zip Code	06850
City Area Code	203
Local Phone Number	222-7170
Title of 12(b) Security	Common Stock ($0.01 par value)
Trading Symbol	TEX
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		67.3
Entity Central Index Key	0000097216
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Amendment Flag	false

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (LOSS) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Income Statement [Abstract]
Net sales	$ 1,292.5	$ 1,235.7
Cost of goods sold	(995.2)	(957)
Gross profit	297.3	278.7
Selling, general and administrative expenses	(139)	(131)
Income (loss) from operations	158.3	147.7
Other income (expense)
Interest income	3.6	2
Interest expense	(15)	(14.9)
Other income (expense) – net	(10.4)	(1.6)
Income (loss) from continuing operations before income taxes	136.5	133.2
(Provision for) benefit from income taxes	(28)	(23.3)
Income (loss) from continuing operations	108.5	109.9
Gain (loss) on disposition of discontinued operations – net of tax	0	2.7
Net income (loss)	$ 108.5	$ 112.6
Basic earnings (loss) per share:
Income (loss) from continuing operations (in dollars per share)	$ 1.62	$ 1.62
Gain (loss) on disposition of discontinued operations - net of tax (in dollars per share)	0	0.04
Net income (loss) (in dollars per share)	1.62	1.66
Diluted earnings (loss) per share:
Income (loss) from continuing operations (in dollars per share)	1.60	1.60
Gain (loss) on disposition of discontinued operations - net of tax (in dollars per share)	0	0.04
Net income (loss) (in dollars per share)	$ 1.60	$ 1.64
Weighted average number of shares outstanding in per share calculation
Basic (in shares)	67	67.7
Diluted (in shares)	67.9	68.8
Comprehensive income (loss)	$ 79.7	$ 138.9

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEET - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Current assets
Cash and cash equivalents	$ 364.9	$ 370.7
Receivables (net of allowance of $9.1 and $8.3 at March 31, 2024 and December 31, 2023, respectively)	685.3	547.8
Inventories	1,217.6	1,186
Prepaid and other current assets	121.8	140.7
Total current assets	2,389.6	2,245.2
Non-current assets
Property, plant and equipment – net	573.7	569.8
Goodwill	292	294.6
Intangible assets – net	14.8	15.7
Other assets	489.8	490.2
Total assets	3,759.9	3,615.5
Current liabilities
Current portion of long-term debt	3.2	2.8
Trade accounts payable	699.3	702.6
Other current liabilities	402.7	413.8
Total current liabilities	1,105.2	1,119.2
Non-current liabilities
Long-term debt, less current portion	720.9	620.4
Other non-current liabilities	201.9	203.6
Total liabilities	2,028	1,943.2
Commitments and contingencies
Stockholders’ equity
Common stock, $0.01 par value – authorized 300.0 shares; issued 85.1 and 84.6 shares at March 31, 2024 and December 31, 2023, respectively	0.9	0.9
Additional paid-in capital	900.1	906.1
Retained earnings	1,771.7	1,674.8
Accumulated other comprehensive income (loss)	(315.9)	(287.1)
Less cost of shares of common stock in treasury – 18.5 shares at March 31, 2024 and December 31, 2023	(624.9)	(622.4)
Total stockholders’ equity	1,731.9	1,672.3
Total liabilities and stockholders’ equity	$ 3,759.9	$ 3,615.5

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEET (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Current assets
Trade receivables, allowance (in dollars)	$ 9.1	$ 8.3
Stockholders’ equity
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common authorized (in shares)	300,000,000	300,000,000
Common issued (in shares)	85,100,000	84,600,000
Treasury Stock (in shares)	18,500,000	18,500,000

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) shares in Millions, $ in Millions	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Common Stock in Treasury
Total stockholders' equity, Beginning of Period at Dec. 31, 2022	$ 1,181.2	$ 0.9	$ 881.6	$ 1,200.6	$ (341.6)	$ (560.3)
Shares oustanding, Beginning of Period (in shares) at Dec. 31, 2022		66.8
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	112.6			112.6
Other Comprehensive Income (Loss) – net of tax	26.3				26.3
Issuance of Common Stock related to compensation	9.5		9.5
Issuance of Common Stock related to compensation (in shares)		0.6
Compensation under Stock-based Plans - net	(20.8)		(22.3)			1.5
Dividends	(10.2)		0.1	(10.3)
Acquisition of Treasury Stock	(4)					(4)
Acquisition of Treasury Stock (in shares)		(0.1)
Total stockholders' equity, End of Period at Mar. 31, 2023	1,294.6	$ 0.9	868.9	1,302.9	(315.3)	(562.8)
Shares outstanding, End of Period (in shares) at Mar. 31, 2023		67.3
Total stockholders' equity, Beginning of Period at Dec. 31, 2023	1,672.3	$ 0.9	906.1	1,674.8	(287.1)	(622.4)
Shares oustanding, Beginning of Period (in shares) at Dec. 31, 2023		66.1
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	108.5			108.5
Other Comprehensive Income (Loss) – net of tax	(28.8)				(28.8)
Issuance of Common Stock related to compensation	24.4		24.4
Issuance of Common Stock related to compensation (in shares)		0.5
Compensation under Stock-based Plans - net	(30.1)		(30.6)			0.5
Dividends	(11.4)		0.2	(11.6)
Acquisition of Treasury Stock	(3)					(3)
Total stockholders' equity, End of Period at Mar. 31, 2024	$ 1,731.9	$ 0.9	$ 900.1	$ 1,771.7	$ (315.9)	$ (624.9)
Shares outstanding, End of Period (in shares) at Mar. 31, 2024		66.6

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Operating Activities
Net income (loss)	$ 108.5	$ 112.6
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	14.9	12.1
Stock-based compensation expense	10	7.8
Inventory and other non-cash charges	18.4	7
Changes in operating assets and liabilities (net of effects of acquisitions and divestitures):
Receivables	(144.6)	(79.3)
Inventories	(54.9)	(98.8)
Trade accounts payable	19.4	61.4
Other assets and liabilities	(4.4)	(17.3)
Foreign exchange and other operating activities, net	(1.2)	3.6
Net cash provided by (used in) operating activities	(33.9)	9.1
Investing Activities
Capital expenditures	(35)	(20.3)
Acquisitions, net of cash acquired, and investments	(1.8)	(10)
Other investing activities, net	1	0.6
Net cash provided by (used in) investing activities	(35.8)	(29.7)
Financing Activities
Repayments of debt	(28)	(118.7)
Proceeds from issuance of debt	127.2	118.8
Share repurchases	(2.9)	(3.3)
Dividends paid	(11.4)	(10.2)
Other financing activities, net	(13.7)	(18.3)
Net cash provided by (used in) financing activities	71.2	(31.7)
Effect of Exchange Rate Changes on Cash and Cash Equivalents	(7.3)	2.4
Net Increase (Decrease) in Cash and Cash Equivalents	(5.8)	(49.9)
Cash and Cash Equivalents at Beginning of Period	370.7	304.1
Cash and Cash Equivalents at End of Period	$ 364.9	$ 254.2

BASIS OF PRESENTATION

BASIS OF PRESENTATION	3 Months Ended
BASIS OF PRESENTATION	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION Basis of Presentation and Principles of Consolidation. The accompanying unaudited Condensed Consolidated Financial Statements of Terex Corporation and subsidiaries as of March 31, 2024 and for the three months ended March 31, 2024 and 2023 have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all information and footnotes required by U.S. GAAP to be included in full-year financial statements. The accompanying Condensed Consolidated Balance Sheet as of December 31, 2023 has been derived from audited consolidated financial statements as of that date, but does not include all disclosures required by U.S. GAAP. For further information, refer to the consolidated financial statements and footnotes thereto included in the Company’s Annual Report on Form 10-K for year ended December 31, 2023. The Condensed Consolidated Financial Statements include accounts of Terex Corporation, its majority-owned subsidiaries and other controlled subsidiaries (“Terex” or the “Company”). The Company consolidates all majority-owned and controlled subsidiaries, applies equity method of accounting for investments in which the Company is able to exercise significant influence and applies the cost method for investments which do not have readily determinable fair values. All intercompany balances, transactions and profits have been eliminated. Certain prior period amounts have been reclassified to conform with the 2024 presentation. In the opinion of management, adjustments considered necessary for the fair statement of these interim financial statements have been made. Except as otherwise disclosed, all such adjustments consist only of those of a normal recurring nature. Operating results for the three months ended March 31, 2024 are not necessarily indicative of results that may be expected for the year ending December 31, 2024. Accounting Standards to be Implemented. In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which requires additional segment reporting disclosures, primarily through enhanced disclosures about significant segment expenses. ASU 2023-07 requires that companies disclose, at the reportable segment level, the significant segment expenses regularly provided to the chief operating decision maker (“CODM”), as well as the amount and composition of other segment items. The ASU also requires companies to disclose the title and position of the CODM and how the CODM uses the reported measures of a segment’s profit or loss when assessing performance and deciding how to allocate resources. Additionally, the ASU mandates that all segment disclosures currently required annually by Topic 280, including the enhancements outlined in the ASU, be disclosed on an interim basis. The guidance is effective for fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024. The Company is currently evaluating the impact of this guidance on its disclosures to consolidated financial statements. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which requires disclosure in the rate reconciliation table additional categories of information about federal, state and foreign income taxes and provide more details about the reconciliation items in some categories if the items meet a quantitative threshold. The guidance also requires disclosure of income taxes paid, net of refunds, disaggregated by federal (national), state and foreign taxes for annual periods and to disaggregate the information by jurisdiction based on a quantitative threshold. The guidance is effective for annual periods beginning after December 15, 2024. The Company is currently evaluating the impact of this guidance on its disclosures to consolidated financial statements. Receivables and Allowance for Doubtful Accounts. Receivables include $633.5 million and $493.8 million of trade accounts receivable at March 31, 2024 and December 31, 2023, respectively. Trade accounts receivable are recorded at invoiced amount and do not bear interest. Allowance for doubtful accounts is the Company’s estimate of current expected credit losses on its existing accounts receivable and determined based on historical customer assessments, current financial conditions, and reasonable and supportable forecasts. Account balances are charged off against the allowance when the Company determines the receivable will not be recovered. There can be no assurance that the Company’s estimate of accounts receivable collection will be indicative of future results. The following table summarizes changes in the consolidated allowance for doubtful accounts (in millions): Balance as of December 31, 2023 $ 8.3 Provision for credit losses 1.1 Other (1) (0.3) Balance as of March 31, 2024 $ 9.1 (1) Includes utilization of established reserves, net of recoveries and the impact of foreign exchange rate changes. Supplier Finance. The Company has a supplier finance program to pay a third-party bank the stated amount of confirmed invoices from its designated suppliers on the original maturity dates of the invoices. Terex or the bank may terminate the agreement upon 30 days’ notice. The supplier invoices that have been confirmed as valid under the program require payment in full within 60-90 days of invoice date. There is no confirmed obligation outstanding at March 31, 2024 and December 31, 2023, respectively. Guarantees. The Company issues guarantees to financial institutions related to financing of equipment purchases by customers. The expectation of losses or non-performance is evaluated based on consideration of historical customer assessments, current financial conditions, reasonable and supportable forecasts, equipment collateral value and other factors. Reserves are recorded for expected loss over the contractual period of risk exposure. See Note K – “Litigation and Contingencies” for additional information regarding guarantees issued to financial institutions. Accrued Warranties . The Company records accruals for potential warranty claims based on its claim experience. The Company’s products are typically sold with a standard warranty covering defects that arise during a fixed period. Each business provides a warranty specific to products it offers. The specific warranty offered by a business is a function of customer expectations and competitive forces. Warranty length is generally a fixed period of time, a fixed number of operating hours or both. A liability for estimated warranty claims is accrued at the time of sale. The current portion of the product warranty liability is included in Other current liabilities and the non-current portion is included in Other non-current liabilities in the Company’s Condensed Consolidated Balance Sheet. The liability is established using historical warranty claims experience for each product sold. Historical claims experience may be adjusted for known design improvements or for the impact of unusual product quality issues. Assumptions are updated for known events that may affect the potential warranty liability. The following table summarizes changes in the consolidated product warranty liability (in millions): Balance as of December 31, 2023 $ 47.8 Accruals for warranties issued during the period 9.7 Changes in estimates 2.6 Settlements during the period (11.0) Foreign exchange effect/other (0.5) Balance as of March 31, 2024 $ 48.6 Fair Value Measurements. Assets and liabilities measured at fair value on a recurring basis under the provisions of Accounting Standards Codification (“ASC”) 820, “Fair Value Measurement and Disclosure” (“ASC 820”) include commodity swaps, cross currency swaps and foreign exchange contracts discussed in Note H – “Derivative Financial Instruments” and debt discussed in Note I – “Long-Term Obligations”. These instruments are valued using observable market data for similar assets and liabilities or the present value of future cash payments and receipts. ASC 820 establishes a fair value hierarchy for those instruments measured at fair value that distinguishes between assumptions based on market data (observable inputs) and the Company’s assumptions (unobservable inputs). The hierarchy consists of three levels: Level 1 – Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; Level 2 – Quoted prices in markets that are not active, or inputs which are observable, either directly or indirectly, for substantially the full term of the asset or liability; and Level 3 – Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e. supported by little or no market activity). Determining which category an asset or liability falls within this hierarchy requires judgment. The Company evaluates its hierarchy disclosures each quarter.

BUSINESS SEGMENT INFORMATION

BUSINESS SEGMENT INFORMATION	3 Months Ended
BUSINESS SEGMENT INFORMATION	Mar. 31, 2024
Segment Reporting [Abstract]
BUSINESS SEGMENT INFORMATION	BUSINESS SEGMENT INFORMATION Terex is a global manufacturer of materials processing machinery and aerial work platforms. The Company designs, builds and supports products used in maintenance, manufacturing, energy, recycling, minerals and materials management, and construction applications. Certain Terex products and solutions enable customers to reduce their impact on the environment including electric and hybrid offerings that deliver quiet and emission-free performance, products that support renewable energy, and products that aid in the recovery of useful materials from various types of waste. The Company’s products are manufactured in North America, Europe, Australia and Asia and sold worldwide. Terex engages with customers through all stages of the product life cycle, from initial specification to parts and service support. The Company identifies its operating segments according to how business activities are managed and evaluated, and has identified three operating segments: Materials Processing (“MP”), Aerials and Utilities. As Aerials and Utilities operating segments share similar economic characteristics, these operating segments are aggregated into one reportable segment, Aerial Work Platforms (“AWP”). The Company operates in two reportable segments: (i) MP and (ii) AWP. MP designs, manufactures, services and markets materials processing and specialty equipment, including crushers, washing systems, screens, trommels, apron feeders, material handlers, pick and carry cranes, rough terrain cranes, tower cranes, wood processing, biomass and recycling equipment, concrete mixer trucks and concrete pavers, conveyors, and their related components and replacement parts. Customers use these products in construction, infrastructure and recycling projects, in various quarrying and mining applications, as well as in landscaping and biomass production industries, material handling applications, maintenance applications to lift equipment or material, moving materials and equipment on rugged or uneven terrain, lifting construction material and placing material at point of use. AWP designs, manufactures, services and markets aerial work platform equipment, utility equipment and telehandlers as well as their related components and replacement parts. Customers use these products to construct and maintain industrial, commercial, institutional and residential buildings and facilities, for construction and maintenance of transmission and distribution lines, tree trimming, certain construction and foundation drilling applications, and for other commercial operations, as well as in a wide range of infrastructure projects. The Company assists customers in their rental, leasing and acquisition of its products through Terex Financial Services (“TFS”). TFS uses its equipment financing experience to facilitate financial products and services to assist customers in the acquisition of the Company’s equipment. TFS is included in Corporate and Other. Corporate and Other also includes eliminations among the two reportable segments, as well as general and corporate items. Business segment information is presented below (in millions): Three Months Ended March 31, 2024 2023 Net sales MP $ 520.0 $ 553.8 AWP 772.7 685.9 Corporate and Other / Eliminations (0.2) (4.0) Total $ 1,292.5 $ 1,235.7 Income (loss) from operations MP $ 72.1 $ 85.3 AWP 107.3 83.1 Corporate and Other / Eliminations (21.1) (20.7) Total $ 158.3 $ 147.7 March 31, December 31, Identifiable assets MP $ 2,029.0 $ 2,091.4 AWP 2,353.3 2,216.2 Corporate and Other / Eliminations (622.4) (692.1) Total $ 3,759.9 $ 3,615.5 Sales between segments are generally priced to recover costs plus a reasonable markup for profit, which is eliminated in consolidation. Geographic net sales information is presented below (in millions): Three Months Ended March 31, 2024 Three Months Ended March 31, 2023 MP AWP Corporate and Other / Eliminations Total MP AWP Corporate and Other / Eliminations Total Net sales by region North America $ 236.1 $ 556.1 $ 2.2 $ 794.4 $ 248.0 $ 433.6 $ 2.8 $ 684.4 Western Europe 136.1 125.7 0.1 261.9 150.6 140.2 0.1 290.9 Asia-Pacific 103.1 43.9 — 147.0 97.9 54.4 0.2 152.5 Rest of World (1) 44.7 47.0 (2.5) 89.2 57.3 57.7 (7.1) 107.9 Total (2) $ 520.0 $ 772.7 $ (0.2) $ 1,292.5 $ 553.8 $ 685.9 $ (4.0) $ 1,235.7 (1) Includes intercompany sales and eliminations. (2) Total sales include $732.5 million and $628.8 million for the three months ended March 31, 2024 and 2023, respectively, attributable to the U.S., the Company’s country of domicile. The Company attributes sales to unaffiliated customers in different geographical areas based on the location of the customer. Product type net sales information is presented below (in millions): Three Months Ended March 31, 2024 Three Months Ended March 31, 2023 MP AWP Corporate and Other / Eliminations Total MP AWP Corporate and Other / Eliminations Total Net sales by product type Aerial Work Platforms $ — $ 542.1 $ 0.7 $ 542.8 $ — $ 484.3 $ 0.5 $ 484.8 Materials Processing Equipment 357.0 — — 357.0 334.4 — — 334.4 Specialty Equipment 162.5 — — 162.5 215.7 — 0.3 216.0 Utility Equipment — 150.3 — 150.3 — 128.4 — 128.4 Other (1) 0.5 80.3 (0.9) 79.9 3.7 73.2 (4.8) 72.1 Total $ 520.0 $ 772.7 $ (0.2) $ 1,292.5 $ 553.8 $ 685.9 $ (4.0) $ 1,235.7 (1) Includes other product types, intercompany sales and eliminations.

INCOME TAXES

INCOME TAXES	3 Months Ended
INCOME TAXES	Mar. 31, 2024
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES During the three months ended March 31, 2024, the Company recognized income tax expense of $28.0 million on income of $136.5 million, an effective tax rate of 20.5%, as compared to income tax expense of $23.3 million on income of $133.2 million, an effective tax rate of 17.5%, for the three months ended March 31, 2023. The higher effective tax rate for the three months ended March 31, 2024 when compared with the three months ended March 31, 2023 is primarily due to higher tax related to geographic distribution of income and lower favorable discrete items. On December 15, 2022, the European Union (“EU”) Member States formally adopted the EU’s Pillar Two Directive, which generally provides for a minimum effective tax rate of 15% for large corporations, as established by the Organization for Economic Co-operation and Development (“OECD”) Pillar Two Framework. A number of countries in which we operate have adopted legislation, many of which are effective in 2024 subject to the OECD transitional safe harbor rules, while other countries are still in the process of introducing legislation. The Company has determined the impact of enacted Pillar Two legislation on its financial statements is not material. The Company will continue to evaluate the financial statement impacts as additional Pillar Two rules are enacted.

EARNINGS PER SHARE

EARNINGS PER SHARE	3 Months Ended
EARNINGS PER SHARE	Mar. 31, 2024
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE (in millions, except per share data) Three Months Ended March 31, 2024 2023 Income (loss) from continuing operations $ 108.5 $ 109.9 Gain (loss) on disposition of discontinued operations – net of tax — 2.7 Net income (loss) $ 108.5 $ 112.6 Basic shares: Weighted average shares outstanding 67.0 67.7 Earnings (loss) per share – basic: Income (loss) from continuing operations $ 1.62 $ 1.62 Gain (loss) on disposition of discontinued operations – net of tax — 0.04 Net income (loss) $ 1.62 $ 1.66 Diluted shares: Weighted average shares outstanding – basic 67.0 67.7 Effect of dilutive securities: Restricted stock 0.9 1.1 Diluted weighted average shares outstanding 67.9 68.8 Earnings (loss) per share – diluted: Income (loss) from continuing operations $ 1.60 $ 1.60 Gain (loss) on disposition of discontinued operations – net of tax — 0.04 Net income (loss) $ 1.60 $ 1.64 Non-vested restricted stock awards and restricted stock units (“Restricted Stock”) granted by the Company are treated as potential common shares outstanding in computing diluted earnings per share using the treasury stock method. Weighted average Restricted Stock of approximately 0.3 million and 0.1 million were outstanding during the three months ended March 31, 2024 and 2023, respectively, but were not included in the computation of diluted shares as the effect would be anti-dilutive or performance targets were not expected to be achieved for awards contingent upon performance.

INVENTORIES

INVENTORIES	3 Months Ended
INVENTORIES	Mar. 31, 2024
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES Inventories consist of the following (in millions): March 31, December 31, Finished equipment $ 494.6 $ 467.9 Replacement parts 185.6 185.6 Work-in-process 138.7 131.5 Raw materials and supplies 398.7 401.0 Inventories $ 1,217.6 $ 1,186.0 Inventory reserves were $70.1 million and $70.5 million at March 31, 2024 and December 31, 2023, respectively.

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT	3 Months Ended
PROPERTY, PLANT AND EQUIPMENT	Mar. 31, 2024
Property, Plant and Equipment [Abstract]
PROPERTY, PLANT AND EQUIPMENT	PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment – net consist of the following (in millions): March 31, December 31, Property $ 80.2 $ 75.1 Plant 313.1 302.4 Equipment 506.4 492.3 Leasehold improvements 52.1 51.8 Construction in progress 57.1 73.4 Property, plant and equipment – gross 1,008.9 995.0 Less: Accumulated depreciation (435.2) (425.2) Property, plant and equipment – net $ 573.7 $ 569.8

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS	3 Months Ended
GOODWILL AND INTANGIBLE ASSETS	Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND INTANGIBLE ASSETS	GOODWILL AND INTANGIBLE ASSETS An analysis of changes in the Company’s goodwill by business segment is as follows (in millions): MP AWP Total Balance at December 31, 2023, gross $ 217.5 $ 138.9 $ 356.4 Accumulated impairment (23.2) (38.6) (61.8) Balance at December 31, 2023, net 194.3 100.3 294.6 Foreign exchange effect and other (2.2) (0.4) (2.6) Balance at March 31, 2024, gross 215.3 138.5 353.8 Accumulated impairment (23.2) (38.6) (61.8) Balance at March 31, 2024, net $ 192.1 $ 99.9 $ 292.0 Intangible assets, net were comprised of the following (in millions): March 31, 2024 December 31, 2023 Weighted Average Life Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Definite-lived intangible assets: Technology 7 $ 9.4 $ (9.3) $ 0.1 $ 9.6 $ (9.5) $ 0.1 Customer Relationships 17 35.2 (28.9) 6.3 35.5 (28.7) 6.8 Land Use Rights 80 3.9 (0.8) 3.1 3.9 (0.8) 3.1 Other 9 30.1 (24.8) 5.3 30.3 (24.6) 5.7 Total definite-lived intangible assets $ 78.6 $ (63.8) $ 14.8 $ 79.3 $ (63.6) $ 15.7 Three Months Ended (in millions) 2024 2023 Aggregate Amortization Expense $ 0.6 $ 0.8 Estimated aggregate intangible asset amortization expense for each of the next five years is as follows (in millions): 2024 $ 2.4 2025 2.3 2026 2.1 2027 2.1 2028 1.2

DERIVATIVE FINANCIAL INSTRUMENT

DERIVATIVE FINANCIAL INSTRUMENTS	3 Months Ended
DERIVATIVE FINANCIAL INSTRUMENTS	Mar. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE FINANCIAL INSTRUMENTS	DERIVATIVE FINANCIAL INSTRUMENTS The Company operates internationally, with manufacturing and sales facilities in various locations around the world. In the normal course of business, the Company uses derivatives to manage commodity, currency and interest rate exposures. For a derivative to qualify for hedge accounting treatment at inception and throughout the hedge period, the Company formally documents the nature and relationships between hedging instruments and hedged items, as well as its risk-management objectives and strategies for undertaking various hedge transactions, and methods of assessing hedge effectiveness. Additionally, for hedges of forecasted transactions, significant characteristics and expected terms of a forecasted transaction must be specifically identified, and it must be probable that each forecasted transaction will occur. If it is deemed probable the forecasted transaction will not occur, then the gain or loss would be recognized in current earnings. Financial instruments qualifying for hedge accounting must maintain a specified level of effectiveness between the hedging instrument and the item being hedged. The Company does not engage in trading or other speculative use of financial instruments. The Company records all derivative contracts at fair value on a recurring basis. Commodity Swaps Derivatives designated as cash flow hedging instruments include commodity swaps with outstanding notional value of $16.8 million and $22.2 million at March 31, 2024 and December 31, 2023, respectively. Commodity swaps outstanding at March 31, 2024 mature on or before August 31, 2025. The Company uses commodity swaps to mitigate price risk for hot rolled coil steel. Fair value of commodity swaps are based on observable market data for similar assets and liabilities. Changes in the fair value of commodity swaps are deferred in Accumulated other comprehensive income (loss) (“AOCI”). Gains or losses on commodity swaps are reclassified to Cost of goods sold (“COGS”) in the Condensed Consolidated Statement of Comprehensive Income (Loss) when the hedged transaction affects earnings. Cross Currency Swaps Derivatives designated as net investment hedging instruments include cross currency swaps with outstanding notional value of $248.7 million and $250.0 million at March 31, 2024 and December 31, 2023, respectively. The Company uses these cross currency swaps to mitigate its exposure to changes in foreign currency exchange rates related to a net investment in a Euro-denominated functional currency subsidiary. Fair values of cross currency swaps are based on the present value of future cash payments and receipts. Changes in the fair value of cross currency swaps are deferred in AOCI. Gains or losses on cross currency swaps are reclassified to Selling, general and administrative expenses in the Condensed Consolidated Statement of Comprehensive Income (Loss) when the net investment is liquidated. Foreign Exchange Contracts The Company enters into foreign exchange contracts to manage variability of future cash flows associated with changing currency exchange rates. Foreign currency exchange contracts, whether designated or not designated as cash flow hedges, are used to mitigate exposure to changes in foreign currency exchange rates on recognized assets and liabilities or forecasted transactions. Fair values of these contracts are derived using quoted forward foreign exchange prices to interpolate values of outstanding trades at the reporting date based on their maturities. Foreign exchange contracts outstanding at March 31, 2024 mature on or before June 21, 2024. The Company had $1.6 million and $4.6 million notional value of foreign exchange contracts outstanding that were designated as cash flow hedging instruments at March 31, 2024 and December 31, 2023, respectively. For effective hedging instruments, changes in the fair value of foreign exchange contracts are deferred in AOCI until the hedged transactions affect earnings. Gains or losses on foreign exchange contracts are reclassified to COGS in the Condensed Consolidated Statement of Comprehensive Income (Loss). The Company had $199.9 million and $300.1 million notional value of foreign exchange contracts outstanding that were not designated as cash flow hedging instruments at March 31, 2024 and December 31, 2023, respectively. The majority of gains and losses recognized from foreign exchange contracts not designated as hedging instruments are offset by changes in the underlying exposures the contracts are intended to mitigate, resulting in no material net impact on earnings. Changes in the fair value of these derivative financial instruments are recognized as gains or losses in COGS and Other income (expense) – net in the Condensed Consolidated Statement of Comprehensive Income (Loss). The following table provides the location and fair value amounts of derivative instruments designated and not designated as hedging instruments that are reported in the Condensed Consolidated Balance Sheet (in millions): March 31, December 31, Instrument (1) Balance Sheet Account Derivatives designated as hedges Derivatives not designated as hedges Derivatives designated as hedges Derivatives not designated as hedges Foreign exchange contracts Other current assets $ — $ 0.4 $ 0.1 $ 1.7 Cross currency swaps - net investment hedge Other current assets 0.9 — — — Commodity swaps Other current assets 0.8 — 2.4 — Cross currency swaps - net investment hedge Other non-current assets 0.4 — — — Foreign exchange contracts Other current liabilities — (0.7) — (0.8) Cross currency swaps - net investment hedge Other current liabilities (3.2) — (5.1) — Commodity swaps Other current liabilities (0.1) — (0.2) — Cross currency swaps - net investment hedge Other non-current liabilities (2.1) — (5.1) — Net derivative asset (liability) $ (3.3) $ (0.3) $ (7.9) $ 0.9 (1) Categorized as Level 2 under the ASC 820 Fair Value Hierarchy. The following tables provide the effect of derivative instruments that are designated as hedges in AOCI (in millions): Gain (Loss) Recognized on Derivatives in OCI, net of tax Gain (Loss) Reclassified from AOCI into Income (Loss) Instrument Three Months Ended March 31, 2024 Three Months Ended Income Statement Account Three Months Ended March 31, 2024 Three Months Ended Foreign exchange contracts $ 0.1 $ (0.4) Cost of goods sold $ — $ — Commodity swaps (0.5) 3.3 Cost of goods sold (0.2) (1.8) Cross currency swaps - net investment hedge 4.7 (1.0) Selling, general and administrative expenses — — Total $ 4.3 $ 1.9 Total $ (0.2) $ (1.8) The following tables provide the effect of derivative instruments that are designated as hedges in the Condensed Consolidated Statement of Comprehensive Income (Loss) (in millions): Classification and amount of Gain (Loss) Recognized in Income (Loss) Cost of goods sold Interest expense Three Months Ended March 31, 2024 Three Months Ended March 31, 2023 Three Months Ended March 31, 2024 Three Months Ended March 31, 2023 Income Statement Accounts in which effects of cash flow hedges are recorded $ (995.2) $ (957.0) $ (15.0) $ (14.9) Gain (loss) reclassified from AOCI into Income (loss): Commodity swaps (0.2) (1.8) — — Amount excluded from effectiveness testing recognized in Income (loss) based on amortization approach: Cross currency swaps - net investment hedge — — 0.9 0.8 Total $ (0.2) $ (1.8) $ 0.9 $ 0.8 Derivatives not designated as hedges are used to offset foreign exchange gains or losses resulting from the underlying exposures of foreign currency denominated assets and liabilities. The following table provides the effect of non-designated derivatives in the Condensed Consolidated Statement of Comprehensive Income (Loss) (in millions): Gain (Loss) Recognized in Income (Loss) Three Months Ended March 31, Instrument Income Statement Account 2024 2023 Foreign exchange contracts Cost of goods sold $ (1.2) $ (0.3) Foreign exchange contracts Other income (expense) – net (0.1) 1.0 Total $ (1.3) $ 0.7 In the Condensed Consolidated Statement of Comprehensive Income (Loss), the Company records hedging activity related to commodity swaps, cross currency swaps and foreign exchange contracts in the accounts for which the hedged items are recorded. On the Condensed Consolidated Statement of Cash Flows, the Company presents cash flows from hedging activities in the same manner as it records the underlying item being hedged. Counterparties to the Company’s derivative financial instruments are major financial institutions and commodity trading companies with credit ratings of investment grade or better and no collateral is required. There are no significant risk concentrations. Management continues to monitor counterparty risk and believes the risk of incurring losses on derivative contracts related to credit risk is unlikely and any losses would be immaterial. See Note L - “Stockholders’ Equity” for unrealized net gains (losses), net of tax, included in AOCI. Within unrealized net gains (losses) included in AOCI as of March 31, 2024, it is estimated that approximately $1 million of losses are expected to be reclassified into earnings in the next twelve months.

LONG-TERM OBLIGATIONS

LONG-TERM OBLIGATIONS	3 Months Ended
LONG-TERM OBLIGATIONS	Mar. 31, 2024
Debt Disclosure [Abstract]
LONG-TERM OBLIGATIONS	LONG-TERM OBLIGATIONS Credit Agreement On January 31, 2017, the Company entered into a credit agreement with the lenders and issuing banks party thereto and Credit Suisse AG, Cayman Islands Branch (“CSAG”), as administrative agent and collateral agent, to provide the Company with a multi-currency revolving line of credit and senior secured term loans. This was subsequently amended to include (i) a $600 million revolving line of credit (the “Revolver”) and (ii) senior secured term loans totaling $600 million with a maturity date of January 31, 2024. On April 1, 2021, the Company entered into an amendment and restatement of the credit agreement (as amended and restated, the “Credit Agreement”) which included the following principal changes to the original credit agreement: (i) extension of the term of the Revolver to expire on April 1, 2026, (ii) reinstatement of financial covenants that were waived in 2020, (iii) decrease in the interest rate on the drawn Revolver by 25 basis points and (iv) certain other technical changes, including additional language regarding the potential cessation of LIBOR as a benchmark rate. In 2022, the Company completed the prepayment in full of the senior secured term loans. On May 8, 2023, the Company and certain of its subsidiaries entered into an Amendment No. 1 (“Amendment”) to the Credit Agreement, with the lenders and issuing banks party thereto and CSAG. The principal changes contained in the Amendment relate to the replacement of the adjusted LIBOR with term Secured Overnight Financing Rate. The Credit Agreement contemplates uncommitted incremental amounts in excess of $300 million that may be extended by the lenders, at their option, as long as the Company satisfies the maximum permitted level of senior secured leverage as defined in the Credit Agreement. The Credit Agreement requires the Company to comply with a number of covenants which limit, in certain circumstances, the Company’s ability to take a variety of actions, including but not limited to: incur indebtedness; create or maintain liens on its property or assets; make investments, loans and advances; repurchase shares of its common stock; engage in acquisitions, mergers, consolidations and asset sales; redeem debt; and pay dividends and distributions. If the Company’s borrowings under the Revolver are greater than 30% of the total revolving credit commitments, the Credit Agreement requires the Company to comply with the following financial tests: (i) minimum required level of the interest coverage ratio of 2.5 to 1.0 and (ii) maximum permitted level of the senior secured leverage ratio of 2.75 to 1.0. The Credit Agreement also contains customary default provisions. The Company was in compliance with all covenants contained in the Credit Agreement as of March 31, 2024. The Company had $99.1 million and no Revolver amounts outstanding at March 31, 2024 and December 31, 2023, respectively. The weighted average interest rate on the Revolver was 6.67% at March 31, 2024. The Company obtains letters of credit that generally serve as collateral for certain liabilities included in the Condensed Consolidated Balance Sheet and guaranteeing the Company’s performance under contracts. Letters of credit can be issued under two facilities provided in the Credit Agreement and via bilateral arrangements outside the Credit Agreement. The Credit Agreement incorporates secured facilities for issuance of letters of credit up to $400 million (the “$400 Million Facility”). Letters of credit issued under the $400 Million Facility decrease availability under the Revolver. The Credit Agreement also permits the Company to have additional secured facilities for the issuance of letters of credit up to $300 million (the “$300 Million Facility”). Letters of credit issued under the $300 Million Facility do not decrease availability under the Revolver. The Company also has bilateral arrangements to issue letters of credit with various other financial institutions (the “Bilateral Arrangements”). The Bilateral Arrangements are not secured under the Credit Agreement and do not decrease availability under the Revolver. Letters of credit outstanding (in millions): March 31, 2024 December 31, 2023 $400 Million Facility $ — $ — $300 Million Facility 71.0 71.8 Bilateral Arrangements 46.8 48.1 Total $ 117.8 $ 119.9 On January 31, 2017, the Company entered into a Guarantee and Collateral Agreement with CSAG, as collateral agent for the lenders, granting security and guarantees to the lenders for amounts borrowed under the Credit Agreement. Pursuant to the Guarantee and Collateral Agreement, Terex is required to (a) pledge as collateral the capital stock of the Company’s material domestic subsidiaries and 65% of the capital stock of certain of the Company’s material foreign subsidiaries and (b) provide a first priority security interest in substantially all of the Company’s domestic assets. On December 29, 2022, the Company entered into an amendment to the Guarantee and Collateral Agreement which included the following principal changes to the original agreement: (i) enabling a subsidiary to enter into hedging derivatives with external counterparties and (ii) inclusion of Terex subsidiary entities’ cash management services provided by lending banks to be secured under the Guarantee and Collateral Agreement. 5% Senior Notes In Apri1 2021, the Company sold and issued $600.0 million aggregate principal amount of Senior Notes Due 2029 (“5% Notes”) at par in a private offering. The proceeds from the 5% Notes, together with cash on hand, was used: (i) to fund redemption and discharge of 5-5/8% Senior Notes and (ii) to pay related premiums, fees, discounts and expenses. The 5% Notes are jointly and severally guaranteed by certain of the Company’s domestic subsidiaries. Secured Borrowings In October 2023, the Company entered into a Framework Agreement to transfer value added tax (“VAT”) receivables to a financial institution in exchange for cash in advance. This arrangement was accounted for as a secured borrowing with a pledge of collateral as the transfer does not meet the criteria for sale accounting. As a result, the VAT receivables pledged as collateral remain in receivables and the liability associated with the cash proceeds of $18.6 million and $19.0 million are presented in long term debt in the Condensed Consolidated Balance Sheet as of March 31, 2024 and December 31, 2023, respectively. The long term debt classification is based on estimated timing of VAT refund from the Italian government which is expected to be greater than 12 months. Fair Value of Debt The Company estimates the fair value of its debt set forth below as of March 31, 2024, as follows (in millions, except for quotes): Book Value Quote Fair Value 5% Notes $ 600.0 0.94000 $ 564.0 The fair value of debt reported in the table above is based on adjusted price quotations on the debt instruments in an inactive market. The Company believes that the carrying value of its other borrowings, including amounts outstanding, if any, for the revolving credit line under the Credit Agreement, approximate fair market value based on maturities for debt of similar terms. Fair values of debt reported in the table above are categorized under Level 2 of the ASC 820 hierarchy. See Note A – “Basis of Presentation” for an explanation of ASC 820 hierarchy.

RETIREMENT PLANS AND OTHER BENE

RETIREMENT PLANS AND OTHER BENEFITS	3 Months Ended
RETIREMENT PLANS AND OTHER BENEFITS	Mar. 31, 2024
Retirement Benefits [Abstract]
RETIREMENT PLANS AND OTHER BENEFITS	RETIREMENT PLANS AND OTHER BENEFITS The Company maintains defined benefit plans in France, Germany, India, Switzerland and the United Kingdom for some of its subsidiaries, as well as a nonqualified Supplemental Executive Retirement Plan in the U.S. (“U.S. SERP”). In Italy and Mexico, there are mandatory termination indemnity plans providing a benefit that is payable upon termination of employment in substantially all cases of termination. The Company has several non-pension post-retirement benefit programs, including health and life insurance benefits to certain former salaried and hourly employees. Information regarding the Company’s plans, including the U.S. SERP, is as follows (in millions): Three Months Ended March 31, 2024 2023 U.S. Pension Non-U.S. Pension Other U.S. Pension Non-U.S. Pension Other Components of net periodic cost: Service cost $ — $ 0.3 $ — $ — $ 0.2 $ — Interest cost 0.4 1.1 — 0.4 1.1 — Expected return on plan assets — (0.9) — — (0.8) — Amortization of actuarial (gain) loss — 0.7 — — 0.6 — Net periodic cost $ 0.4 $ 1.2 $ — $ 0.4 $ 1.1 $ — Components of Net periodic cost other than the Service cost component are included in Other income (expense) - net in the Condensed Consolidated Statement of Comprehensive Income (Loss). The Service cost component is included in the same line item or items as other compensation costs arising from services rendered by pertinent employees during the period.

LITIGATION AND CONTINGENCIES

LITIGATION AND CONTINGENCIES	3 Months Ended
LITIGATION AND CONTINGENCIES	Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
LITIGATION AND CONTINGENCIES	LITIGATION AND CONTINGENCIES General The Company is involved in various legal proceedings, including product liability, general liability, workers’ compensation liability, employment, commercial, intellectual property and tax litigation, which have arisen in the normal course of operations. The Company is insured for product liability, general liability, workers’ compensation, employer’s liability, property damage and other insurable risks required by law or contract, with retained liability or deductibles. The Company records and maintains an estimated liability in the amount of management’s estimate of the Company’s aggregate exposure for such retained liabilities and deductibles. For such retained liabilities and deductibles, the Company determines its exposure based on probable loss estimations, which requires such losses to be both probable and the amount or range of probable loss to be estimable. The Company believes it has made appropriate and adequate reserves and accruals for its current contingencies and the likelihood of a material loss beyond amounts accrued is remote. The Company believes the outcome of such matters, individually and in aggregate, will not have a material adverse effect on its condensed consolidated financial statements. However, outcomes of lawsuits cannot be predicted and, if determined adversely, could ultimately result in the Company incurring significant liabilities which could have a material adverse effect on its results of operations. Terex Latin América Equipamentos Ltda ICMS Proceedings Terex Latin America Equipamentos Ltda (“TLA”) imports Terex products into Brazil through the state of Espirito Santo to its facility in Sao Paulo. For the 2004 through March 2009 period, TLA used a third-party trading company, SAB, as an agent to process the importation of Terex products. TLA properly paid the Espirito Santo ICMS tax (Brazilian state value-added tax) to SAB for payment to Espirito Santo, which would produce an ICMS credit to be used against imposition of Sao Paolo ICMS tax. SAB went into bankruptcy and may not have actually remitted to Espirito Santo the ICMS tax amounts paid to it by TLA. The Brazilian state of Sao Paulo challenged the credit against Sao Paolo ICMS that TLA claimed and assessed unpaid ICMS tax, penalties and related interest in the amount of approximately BRL 115 million ($23 million). TLA challenged the claim of Sao Paulo and learned in October 2019 that the Sao Paulo claim has survived the administrative tribunal process. While the Company continues to strongly oppose the state of Sao Paulo and plans to assert vigorous defenses, no assurance can be given as to the final resolution of the ICMS litigation or that TLA will not ultimately be required to pay the ICMS tax and interest to the state of Sao Paulo. Other The Company is involved in various other legal proceedings which have arisen in the normal course of its operations. The Company has recorded provisions for estimated losses in circumstances where a loss is probable and the amount or range of possible amounts of the loss is estimable. Credit Guarantees The Company may assist customers in their rental, leasing and acquisition of its products by facilitating financing transactions directly between (i) end-user customers, distributors and rental companies and (ii) third-party financial institutions, providing recourse in certain circumstances. The current amount of the maximum liability is generally limited to our customer’s remaining payments due to the third-party financial institutions at the time of default; however, it cannot be reasonably estimated due to limited availability of the unique facts and circumstances of each arrangement, such as whether changes have been made to the structure of the contractual obligation between the funder and customer. For credit guarantees outstanding as of March 31, 2024 and December 31, 2023, the maximum exposure determined was $84.3 million and $89.4 million, respectively. Terms of these guarantees coincide with the financing arranged by the customer and generally do not exceed five years. The allowance for credit losses on credit guarantees was $5.2 million and $5.3 million at March 31, 2024 and December 31, 2023, respectively. There can be no assurance that 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.

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	3 Months Ended
STOCKHOLDERS' EQUITY	Mar. 31, 2024
Stockholders' Equity Note [Abstract]
STOCKHOLDERS' EQUITY	STOCKHOLDERS’ EQUITY Changes in Accumulated Other Comprehensive Income (Loss) The table below presents changes in AOCI by component for the three months ended March 31, 2024 and 2023. All amounts are net of tax (in millions). Three Months Ended March 31, 2024 Three Months Ended March 31, 2023 CTA Derivative Hedging Adj. Debt & Equity Securities Adj. Pension Liability Adj. Total CTA Derivative Hedging Adj. Debt & Equity Securities Adj. Pension Liability Adj. Total Beginning balance $ (228.3) $ (5.4) $ (2.7) $ (50.7) $ (287.1) $ (285.5) $ (6.4) $ (3.5) $ (46.2) $ (341.6) Other comprehensive income (loss) before reclassifications (33.9) 4.0 (0.2) 0.5 (29.6) 24.4 0.5 0.5 (1.0) 24.4 Amounts reclassified from AOCI — 0.3 — 0.5 0.8 — 1.4 — 0.5 1.9 Net other comprehensive income (loss) (33.9) 4.3 (0.2) 1.0 (28.8) 24.4 1.9 0.5 (0.5) 26.3 Ending balance $ (262.2) $ (1.1) $ (2.9) $ (49.7) $ (315.9) $ (261.1) $ (4.5) $ (3.0) $ (46.7) $ (315.3) Stock-Based Compensation During the three months ended March 31, 2024, the Company awarded 0.5 million shares of Restricted Stock to its employees with a weighted average fair value of $60.12 per share. Approximately 61% of these awards are time-based and vest ratably on each of the first three anniversary dates of the grants. Approximately 27% cliff vest at the end of a three-year period and are subject to performance targets that may or may not be met and for which the performance period has not yet been completed. Approximately 12% cliff vest and are based on performance targets containing a market condition determined over a three-year period. Fair value of time-based awards is based on the market price of our common stock at the date of grant approval. The fair value of performance-based awards, except for awards based on a market condition, is based on the market price of our common stock at the date of grant approval, except fair values are multiplied by the probability of achievement as of the period-end date. For awards based on a market condition, fair value is based on the Monte Carlo method at grant date. The Monte Carlo method is a statistical simulation technique used to provide the grant date fair value of an award. The Company used the Monte Carlo method to determine grant date fair value of $67.70 per share for awards with a market condition granted on March 15, 2024. The following table presents the weighted-average assumptions used in the valuations: Grant date March 15, 2024 Dividend yields 1.15 % Expected volatility 42.65 % Risk free interest rate 4.50 % Expected life (in years) 3 Share Repurchases In July 2018, Terex’s Board of Directors (“Board”) authorized the repurchase of up to $300 million of the Company’s outstanding shares of common stock. In December 2022, Terex’s Board authorized the repurchase of up to $150 million of the Company’s outstanding shares of common stock. The table below presents shares repurchased, inclusive of transactions executed but not settled, by the Company under these programs. Three Months Ended March 31 Total Number of Amount of Shares Repurchased (in millions) 2024 46,337 $2.7 2023 79,285 $3.7 Dividends The table below presents dividends declared by Terex’s Board and paid to the Company’s shareholders: Year First Quarter 2024 $ 0.17 2023 $ 0.15

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Millions	Mar. 31, 2024	Mar. 31, 2023
Pay vs Performance Disclosure
Net Income (Loss) Attributable to Parent	$ 108.5	$ 112.6

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Mar. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

BASIS OF PRESENTATION (Policies

BASIS OF PRESENTATION (Policies)	3 Months Ended
BASIS OF PRESENTATION (Policies)	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	The accompanying unaudited Condensed Consolidated Financial Statements of Terex Corporation and subsidiaries as of March 31, 2024 and for the three months ended March 31, 2024 and 2023 have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all information and footnotes required by U.S. GAAP to be included in full-year financial statements. The accompanying Condensed Consolidated Balance Sheet as of December 31, 2023 has been derived from audited consolidated financial statements as of that date, but does not include all disclosures required by U.S. GAAP.
Principals of Consolidation	The Condensed Consolidated Financial Statements include accounts of Terex Corporation, its majority-owned subsidiaries and other controlled subsidiaries (“Terex” or the “Company”). The Company consolidates all majority-owned and controlled subsidiaries, applies equity method of accounting for investments in which the Company is able to exercise significant influence and applies the cost method for investments which do not have readily determinable fair values. All intercompany balances, transactions and profits have been eliminated.
Reclassification policy	Certain prior period amounts have been reclassified to conform with the 2024 presentation.
Accounting Standards to be Implemented	Accounting Standards to be Implemented. In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which requires additional segment reporting disclosures, primarily through enhanced disclosures about significant segment expenses. ASU 2023-07 requires that companies disclose, at the reportable segment level, the significant segment expenses regularly provided to the chief operating decision maker (“CODM”), as well as the amount and composition of other segment items. The ASU also requires companies to disclose the title and position of the CODM and how the CODM uses the reported measures of a segment’s profit or loss when assessing performance and deciding how to allocate resources. Additionally, the ASU mandates that all segment disclosures currently required annually by Topic 280, including the enhancements outlined in the ASU, be disclosed on an interim basis. The guidance is effective for fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024. The Company is currently evaluating the impact of this guidance on its disclosures to consolidated financial statements. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which requires disclosure in the rate reconciliation table additional categories of information about federal, state and foreign income taxes and provide more details about the reconciliation items in some categories if the items meet a quantitative threshold. The guidance also requires disclosure of income taxes paid, net of refunds, disaggregated by federal (national), state and foreign taxes for annual periods and to disaggregate the information by jurisdiction based on a quantitative threshold. The guidance is effective for annual periods beginning after December 15, 2024. The Company is currently evaluating the impact of this guidance on its disclosures to consolidated financial statements.
Receivables and Allowance for Doubtful Accounts	Receivables and Allowance for Doubtful Accounts. Receivables include $633.5 million and $493.8 million of trade accounts receivable at March 31, 2024 and December 31, 2023, respectively. Trade accounts receivable are recorded at invoiced amount and do not bear interest. Allowance for doubtful accounts is the Company’s estimate of current expected credit losses on its existing accounts receivable and determined based on historical customer assessments, current financial conditions, and reasonable and supportable forecasts. Account balances are charged off against the allowance when the Company determines the receivable will not be recovered. There can be no assurance that the Company’s estimate of accounts receivable collection will be indicative of future results.
Guarantees	Guarantees. The Company issues guarantees to financial institutions related to financing of equipment purchases by customers. The expectation of losses or non-performance is evaluated based on consideration of historical customer assessments, current financial conditions, reasonable and supportable forecasts, equipment collateral value and other factors. Reserves are recorded for expected loss over the contractual period of risk exposure. See Note K – “Litigation and Contingencies” for additional information regarding guarantees issued to financial institutions.
Accrued Warranties	Accrued Warranties . The Company records accruals for potential warranty claims based on its claim experience. The Company’s products are typically sold with a standard warranty covering defects that arise during a fixed period. Each business provides a warranty specific to products it offers. The specific warranty offered by a business is a function of customer expectations and competitive forces. Warranty length is generally a fixed period of time, a fixed number of operating hours or both. A liability for estimated warranty claims is accrued at the time of sale. The current portion of the product warranty liability is included in Other current liabilities and the non-current portion is included in Other non-current liabilities in the Company’s Condensed Consolidated Balance Sheet. The liability is established using historical warranty claims experience for each product sold. Historical claims experience may be adjusted for known design improvements or for the impact of unusual product quality issues. Assumptions are updated for known events that may affect the potential warranty liability.
Fair Value Measurements	Fair Value Measurements. Assets and liabilities measured at fair value on a recurring basis under the provisions of Accounting Standards Codification (“ASC”) 820, “Fair Value Measurement and Disclosure” (“ASC 820”) include commodity swaps, cross currency swaps and foreign exchange contracts discussed in Note H – “Derivative Financial Instruments” and debt discussed in Note I – “Long-Term Obligations”. These instruments are valued using observable market data for similar assets and liabilities or the present value of future cash payments and receipts. ASC 820 establishes a fair value hierarchy for those instruments measured at fair value that distinguishes between assumptions based on market data (observable inputs) and the Company’s assumptions (unobservable inputs). The hierarchy consists of three levels: Level 1 – Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; Level 2 – Quoted prices in markets that are not active, or inputs which are observable, either directly or indirectly, for substantially the full term of the asset or liability; and Level 3 – Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e. supported by little or no market activity). Determining which category an asset or liability falls within this hierarchy requires judgment. The Company evaluates its hierarchy disclosures each quarter.
Supplier Finance Program, Policy	Supplier Finance.

BASIS OF PRESENTATION (Tables)

BASIS OF PRESENTATION (Tables)	3 Months Ended
BASIS OF PRESENTATION (Tables)	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accounts Receivable, Allowance for Credit Loss	The following table summarizes changes in the consolidated allowance for doubtful accounts (in millions): Balance as of December 31, 2023 $ 8.3 Provision for credit losses 1.1 Other (1) (0.3) Balance as of March 31, 2024 $ 9.1 (1) Includes utilization of established reserves, net of recoveries and the impact of foreign exchange rate changes.
Schedule of Product Warranty Liability	The following table summarizes changes in the consolidated product warranty liability (in millions): Balance as of December 31, 2023 $ 47.8 Accruals for warranties issued during the period 9.7 Changes in estimates 2.6 Settlements during the period (11.0) Foreign exchange effect/other (0.5) Balance as of March 31, 2024 $ 48.6

BUSINESS SEGMENT INFORMATION (T

BUSINESS SEGMENT INFORMATION (Tables)	3 Months Ended
BUSINESS SEGMENT INFORMATION (Tables)	Mar. 31, 2024
Segment Reporting [Abstract]
Schedule of Business Segment Information	Business segment information is presented below (in millions): Three Months Ended March 31, 2024 2023 Net sales MP $ 520.0 $ 553.8 AWP 772.7 685.9 Corporate and Other / Eliminations (0.2) (4.0) Total $ 1,292.5 $ 1,235.7 Income (loss) from operations MP $ 72.1 $ 85.3 AWP 107.3 83.1 Corporate and Other / Eliminations (21.1) (20.7) Total $ 158.3 $ 147.7
Reconciliation of Operating Profit (Loss) from Segments to Consolidated	March 31, December 31, Identifiable assets MP $ 2,029.0 $ 2,091.4 AWP 2,353.3 2,216.2 Corporate and Other / Eliminations (622.4) (692.1) Total $ 3,759.9 $ 3,615.5
Revenue from External Customers by Geographic Areas	Geographic net sales information is presented below (in millions): Three Months Ended March 31, 2024 Three Months Ended March 31, 2023 MP AWP Corporate and Other / Eliminations Total MP AWP Corporate and Other / Eliminations Total Net sales by region North America $ 236.1 $ 556.1 $ 2.2 $ 794.4 $ 248.0 $ 433.6 $ 2.8 $ 684.4 Western Europe 136.1 125.7 0.1 261.9 150.6 140.2 0.1 290.9 Asia-Pacific 103.1 43.9 — 147.0 97.9 54.4 0.2 152.5 Rest of World (1) 44.7 47.0 (2.5) 89.2 57.3 57.7 (7.1) 107.9 Total (2) $ 520.0 $ 772.7 $ (0.2) $ 1,292.5 $ 553.8 $ 685.9 $ (4.0) $ 1,235.7 (1) Includes intercompany sales and eliminations. (2) Total sales include $732.5 million and $628.8 million for the three months ended March 31, 2024 and 2023, respectively, attributable to the U.S., the Company’s country of domicile.
Revenue from External Customers by Products and Services	Product type net sales information is presented below (in millions): Three Months Ended March 31, 2024 Three Months Ended March 31, 2023 MP AWP Corporate and Other / Eliminations Total MP AWP Corporate and Other / Eliminations Total Net sales by product type Aerial Work Platforms $ — $ 542.1 $ 0.7 $ 542.8 $ — $ 484.3 $ 0.5 $ 484.8 Materials Processing Equipment 357.0 — — 357.0 334.4 — — 334.4 Specialty Equipment 162.5 — — 162.5 215.7 — 0.3 216.0 Utility Equipment — 150.3 — 150.3 — 128.4 — 128.4 Other (1) 0.5 80.3 (0.9) 79.9 3.7 73.2 (4.8) 72.1 Total $ 520.0 $ 772.7 $ (0.2) $ 1,292.5 $ 553.8 $ 685.9 $ (4.0) $ 1,235.7 (1) Includes other product types, intercompany sales and eliminations.

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	3 Months Ended
EARNINGS PER SHARE (Tables)	Mar. 31, 2024
Earnings Per Share [Abstract]
Schedule of Earnings Per Share	(in millions, except per share data) Three Months Ended March 31, 2024 2023 Income (loss) from continuing operations $ 108.5 $ 109.9 Gain (loss) on disposition of discontinued operations – net of tax — 2.7 Net income (loss) $ 108.5 $ 112.6 Basic shares: Weighted average shares outstanding 67.0 67.7 Earnings (loss) per share – basic: Income (loss) from continuing operations $ 1.62 $ 1.62 Gain (loss) on disposition of discontinued operations – net of tax — 0.04 Net income (loss) $ 1.62 $ 1.66 Diluted shares: Weighted average shares outstanding – basic 67.0 67.7 Effect of dilutive securities: Restricted stock 0.9 1.1 Diluted weighted average shares outstanding 67.9 68.8 Earnings (loss) per share – diluted: Income (loss) from continuing operations $ 1.60 $ 1.60 Gain (loss) on disposition of discontinued operations – net of tax — 0.04 Net income (loss) $ 1.60 $ 1.64

INVENTORIES (Tables)

INVENTORIES (Tables)	3 Months Ended
INVENTORIES (Tables)	Mar. 31, 2024
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories consist of the following (in millions): March 31, December 31, Finished equipment $ 494.6 $ 467.9 Replacement parts 185.6 185.6 Work-in-process 138.7 131.5 Raw materials and supplies 398.7 401.0 Inventories $ 1,217.6 $ 1,186.0

PROPERTY, PLANT AND EQUIPMENT (

PROPERTY, PLANT AND EQUIPMENT (Tables)	3 Months Ended
PROPERTY, PLANT AND EQUIPMENT (Tables)	Mar. 31, 2024
Property, Plant and Equipment [Abstract]
Schedule of Property, Plant and Equipment	Property, plant and equipment – net consist of the following (in millions): March 31, December 31, Property $ 80.2 $ 75.1 Plant 313.1 302.4 Equipment 506.4 492.3 Leasehold improvements 52.1 51.8 Construction in progress 57.1 73.4 Property, plant and equipment – gross 1,008.9 995.0 Less: Accumulated depreciation (435.2) (425.2) Property, plant and equipment – net $ 573.7 $ 569.8

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS (Tables)	3 Months Ended
GOODWILL AND INTANGIBLE ASSETS (Tables)	Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Changes in Goodwill by Business Segment	An analysis of changes in the Company’s goodwill by business segment is as follows (in millions): MP AWP Total Balance at December 31, 2023, gross $ 217.5 $ 138.9 $ 356.4 Accumulated impairment (23.2) (38.6) (61.8) Balance at December 31, 2023, net 194.3 100.3 294.6 Foreign exchange effect and other (2.2) (0.4) (2.6) Balance at March 31, 2024, gross 215.3 138.5 353.8 Accumulated impairment (23.2) (38.6) (61.8) Balance at March 31, 2024, net $ 192.1 $ 99.9 $ 292.0
Schedule of Intangible Assets by Class	Intangible assets, net were comprised of the following (in millions): March 31, 2024 December 31, 2023 Weighted Average Life Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Definite-lived intangible assets: Technology 7 $ 9.4 $ (9.3) $ 0.1 $ 9.6 $ (9.5) $ 0.1 Customer Relationships 17 35.2 (28.9) 6.3 35.5 (28.7) 6.8 Land Use Rights 80 3.9 (0.8) 3.1 3.9 (0.8) 3.1 Other 9 30.1 (24.8) 5.3 30.3 (24.6) 5.7 Total definite-lived intangible assets $ 78.6 $ (63.8) $ 14.8 $ 79.3 $ (63.6) $ 15.7
Finite-lived Intangible Assets Amortization Expense	Three Months Ended (in millions) 2024 2023 Aggregate Amortization Expense $ 0.6 $ 0.8
Schedule of Intangible Assets Amortization Expense	Estimated aggregate intangible asset amortization expense for each of the next five years is as follows (in millions): 2024 $ 2.4 2025 2.3 2026 2.1 2027 2.1 2028 1.2

DERIVATIVE FINANCIAL INSTRUME_2

DERIVATIVE FINANCIAL INSTRUMENTS (Tables)	3 Months Ended
DERIVATIVE FINANCIAL INSTRUMENTS (Tables)	Mar. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of fair value of derivative instruments designated as hedging instruments that are reported in the Consolidated Balance Sheet	The following table provides the location and fair value amounts of derivative instruments designated and not designated as hedging instruments that are reported in the Condensed Consolidated Balance Sheet (in millions): March 31, December 31, Instrument (1) Balance Sheet Account Derivatives designated as hedges Derivatives not designated as hedges Derivatives designated as hedges Derivatives not designated as hedges Foreign exchange contracts Other current assets $ — $ 0.4 $ 0.1 $ 1.7 Cross currency swaps - net investment hedge Other current assets 0.9 — — — Commodity swaps Other current assets 0.8 — 2.4 — Cross currency swaps - net investment hedge Other non-current assets 0.4 — — — Foreign exchange contracts Other current liabilities — (0.7) — (0.8) Cross currency swaps - net investment hedge Other current liabilities (3.2) — (5.1) — Commodity swaps Other current liabilities (0.1) — (0.2) — Cross currency swaps - net investment hedge Other non-current liabilities (2.1) — (5.1) — Net derivative asset (liability) $ (3.3) $ (0.3) $ (7.9) $ 0.9 (1) Categorized as Level 2 under the ASC 820 Fair Value Hierarchy.
Schedule of derivative instruments that are designated as hedges in the Consolidated Statement of Comprehensive Income	The following tables provide the effect of derivative instruments that are designated as hedges in AOCI (in millions): Gain (Loss) Recognized on Derivatives in OCI, net of tax Gain (Loss) Reclassified from AOCI into Income (Loss) Instrument Three Months Ended March 31, 2024 Three Months Ended Income Statement Account Three Months Ended March 31, 2024 Three Months Ended Foreign exchange contracts $ 0.1 $ (0.4) Cost of goods sold $ — $ — Commodity swaps (0.5) 3.3 Cost of goods sold (0.2) (1.8) Cross currency swaps - net investment hedge 4.7 (1.0) Selling, general and administrative expenses — — Total $ 4.3 $ 1.9 Total $ (0.2) $ (1.8) The following tables provide the effect of derivative instruments that are designated as hedges in the Condensed Consolidated Statement of Comprehensive Income (Loss) (in millions): Classification and amount of Gain (Loss) Recognized in Income (Loss) Cost of goods sold Interest expense Three Months Ended March 31, 2024 Three Months Ended March 31, 2023 Three Months Ended March 31, 2024 Three Months Ended March 31, 2023 Income Statement Accounts in which effects of cash flow hedges are recorded $ (995.2) $ (957.0) $ (15.0) $ (14.9) Gain (loss) reclassified from AOCI into Income (loss): Commodity swaps (0.2) (1.8) — — Amount excluded from effectiveness testing recognized in Income (loss) based on amortization approach: Cross currency swaps - net investment hedge — — 0.9 0.8 Total $ (0.2) $ (1.8) $ 0.9 $ 0.8
Schedule of fair value of derivative instruments not designated as hedging instruments that are reported in the Consolidated Statement of Comprehensive Income and Balance Sheet	Derivatives not designated as hedges are used to offset foreign exchange gains or losses resulting from the underlying exposures of foreign currency denominated assets and liabilities. The following table provides the effect of non-designated derivatives in the Condensed Consolidated Statement of Comprehensive Income (Loss) (in millions): Gain (Loss) Recognized in Income (Loss) Three Months Ended March 31, Instrument Income Statement Account 2024 2023 Foreign exchange contracts Cost of goods sold $ (1.2) $ (0.3) Foreign exchange contracts Other income (expense) – net (0.1) 1.0 Total $ (1.3) $ 0.7

LONG-TERM OBLIGATIONS (Tables)

LONG-TERM OBLIGATIONS (Tables)	3 Months Ended
LONG-TERM OBLIGATIONS (Tables)	Mar. 31, 2024
Debt Disclosure [Abstract]
Schedule of Debt	Letters of credit outstanding (in millions): March 31, 2024 December 31, 2023 $400 Million Facility $ — $ — $300 Million Facility 71.0 71.8 Bilateral Arrangements 46.8 48.1 Total $ 117.8 $ 119.9
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments	The Company estimates the fair value of its debt set forth below as of March 31, 2024, as follows (in millions, except for quotes): Book Value Quote Fair Value 5% Notes $ 600.0 0.94000 $ 564.0

RETIREMENT PLANS AND OTHER BE_2

RETIREMENT PLANS AND OTHER BENEFITS (Tables)	3 Months Ended
RETIREMENT PLANS AND OTHER BENEFITS (Tables)	Mar. 31, 2024
Retirement Benefits [Abstract]
Schedule of Components of Net Periodic Cost	Information regarding the Company’s plans, including the U.S. SERP, is as follows (in millions): Three Months Ended March 31, 2024 2023 U.S. Pension Non-U.S. Pension Other U.S. Pension Non-U.S. Pension Other Components of net periodic cost: Service cost $ — $ 0.3 $ — $ — $ 0.2 $ — Interest cost 0.4 1.1 — 0.4 1.1 — Expected return on plan assets — (0.9) — — (0.8) — Amortization of actuarial (gain) loss — 0.7 — — 0.6 — Net periodic cost $ 0.4 $ 1.2 $ — $ 0.4 $ 1.1 $ —

STOCKHOLDERS' EQUITY (Tables)

STOCKHOLDERS' EQUITY (Tables)	3 Months Ended
STOCKHOLDERS' EQUITY (Tables)	Mar. 31, 2024
Stockholders' Equity Note [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The table below presents changes in AOCI by component for the three months ended March 31, 2024 and 2023. All amounts are net of tax (in millions). Three Months Ended March 31, 2024 Three Months Ended March 31, 2023 CTA Derivative Hedging Adj. Debt & Equity Securities Adj. Pension Liability Adj. Total CTA Derivative Hedging Adj. Debt & Equity Securities Adj. Pension Liability Adj. Total Beginning balance $ (228.3) $ (5.4) $ (2.7) $ (50.7) $ (287.1) $ (285.5) $ (6.4) $ (3.5) $ (46.2) $ (341.6) Other comprehensive income (loss) before reclassifications (33.9) 4.0 (0.2) 0.5 (29.6) 24.4 0.5 0.5 (1.0) 24.4 Amounts reclassified from AOCI — 0.3 — 0.5 0.8 — 1.4 — 0.5 1.9 Net other comprehensive income (loss) (33.9) 4.3 (0.2) 1.0 (28.8) 24.4 1.9 0.5 (0.5) 26.3 Ending balance $ (262.2) $ (1.1) $ (2.9) $ (49.7) $ (315.9) $ (261.1) $ (4.5) $ (3.0) $ (46.7) $ (315.3)
Schedule of Weighted-Average Assumptions Used in the Valuations	The following table presents the weighted-average assumptions used in the valuations: Grant date March 15, 2024 Dividend yields 1.15 % Expected volatility 42.65 % Risk free interest rate 4.50 % Expected life (in years) 3
Schedule of Repurchase Agreements	The table below presents shares repurchased, inclusive of transactions executed but not settled, by the Company under these programs. Three Months Ended March 31 Total Number of Amount of Shares Repurchased (in millions) 2024 46,337 $2.7 2023 79,285 $3.7
Dividends Declared	The table below presents dividends declared by Terex’s Board and paid to the Company’s shareholders: Year First Quarter 2024 $ 0.17 2023 $ 0.15

BASIS OF PRESENTATION - Allowan

BASIS OF PRESENTATION - Allowance for doubtful accounts rollforward (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 8.3
Provision for credit losses	1.1
Other	(0.3)
Ending balance	9.1
Trade receivables	$ 685.3	$ 547.8

BASIS OF PRESENTATION - Changes

BASIS OF PRESENTATION - Changes in Product Warranty Liability (Details) $ in Millions	3 Months Ended
	Mar. 31, 2024 USD ($)
Changes in consolidated current and non-current product warranty liability
Balance as of December 31, 2023	$ 47.8
Accruals for warranties issued during the period	9.7
Changes in estimates	2.6
Settlements during the period	(11)
Foreign exchange effect/other	(0.5)
Balance as of March 31, 2024	$ 48.6

BASIS OF PRESENTATION - Additio

BASIS OF PRESENTATION - Additional Information (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Trade receivables	$ 685.3	$ 547.8
Trade Accounts Receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Trade receivables	$ 633.5	$ 493.8

BUSINESS SEGMENT INFORMATION -

BUSINESS SEGMENT INFORMATION - Additional Information (Details)	3 Months Ended
	Mar. 31, 2024 segments
Segment Reporting Information [Line Items]
Number of operating segments	3
Number of reportable segments	2
Aerials And Utilities
Segment Reporting Information [Line Items]
Number of reportable segments	1

BUSINESS SEGMENT INFORMATION _2

BUSINESS SEGMENT INFORMATION - Net Sales and Income (Loss) from Operations by Segment (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Segment Reporting Information [Line Items]
Net sales	$ 1,292.5	$ 1,235.7
Income (loss) from operations	158.3	147.7
Operating Segments \| AWP
Segment Reporting Information [Line Items]
Net sales	772.7	685.9
Income (loss) from operations	107.3	83.1
Operating Segments \| MP
Segment Reporting Information [Line Items]
Net sales	520	553.8
Income (loss) from operations	72.1	85.3
Corporate and Other / Eliminations
Segment Reporting Information [Line Items]
Net sales	(0.2)	(4)
Income (loss) from operations	$ (21.1)	$ (20.7)

BUSINESS SEGMENT INFORMATION _3

BUSINESS SEGMENT INFORMATION - Identifiable Assets by Segment (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Segment Reporting Information [Line Items]
Assets	$ 3,759.9	$ 3,615.5
Operating Segments \| AWP
Segment Reporting Information [Line Items]
Assets	2,353.3	2,216.2
Operating Segments \| MP
Segment Reporting Information [Line Items]
Assets	2,029	2,091.4
Corporate and Other / Eliminations
Segment Reporting Information [Line Items]
Assets	$ (622.4)	$ (692.1)

BUSINESS SEGMENT INFORMATION _4

BUSINESS SEGMENT INFORMATION - Net Sales by Region (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Segment Reporting Information [Line Items]
Net sales	$ 1,292.5	$ 1,235.7
UNITED STATES
Segment Reporting Information [Line Items]
Net sales	732.5	628.8
North America
Segment Reporting Information [Line Items]
Net sales	794.4	684.4
Western Europe
Segment Reporting Information [Line Items]
Net sales	261.9	290.9
Asia-Pacific
Segment Reporting Information [Line Items]
Net sales	147	152.5
Rest of World
Segment Reporting Information [Line Items]
Net sales	89.2	107.9
Corporate and Other / Eliminations
Segment Reporting Information [Line Items]
Net sales	(0.2)	(4)
Corporate and Other / Eliminations \| North America
Segment Reporting Information [Line Items]
Net sales	2.2	2.8
Corporate and Other / Eliminations \| Western Europe
Segment Reporting Information [Line Items]
Net sales	0.1	0.1
Corporate and Other / Eliminations \| Asia-Pacific
Segment Reporting Information [Line Items]
Net sales	0	0.2
Corporate and Other / Eliminations \| Rest of World
Segment Reporting Information [Line Items]
Net sales	(2.5)	(7.1)
AWP \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	772.7	685.9
AWP \| Operating Segments \| North America
Segment Reporting Information [Line Items]
Net sales	556.1	433.6
AWP \| Operating Segments \| Western Europe
Segment Reporting Information [Line Items]
Net sales	125.7	140.2
AWP \| Operating Segments \| Asia-Pacific
Segment Reporting Information [Line Items]
Net sales	43.9	54.4
AWP \| Operating Segments \| Rest of World
Segment Reporting Information [Line Items]
Net sales	47	57.7
MP \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	520	553.8
MP \| Operating Segments \| North America
Segment Reporting Information [Line Items]
Net sales	236.1	248
MP \| Operating Segments \| Western Europe
Segment Reporting Information [Line Items]
Net sales	136.1	150.6
MP \| Operating Segments \| Asia-Pacific
Segment Reporting Information [Line Items]
Net sales	103.1	97.9
MP \| Operating Segments \| Rest of World
Segment Reporting Information [Line Items]
Net sales	$ 44.7	$ 57.3

BUSINESS SEGMENT INFORMATION _5

BUSINESS SEGMENT INFORMATION - Net Sales by Product Type (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Segment Reporting Information [Line Items]
Net sales	$ 1,292.5	$ 1,235.7
Operating Segments \| AWP
Segment Reporting Information [Line Items]
Net sales	772.7	685.9
Operating Segments \| MP
Segment Reporting Information [Line Items]
Net sales	520	553.8
Corporate and Other / Eliminations
Segment Reporting Information [Line Items]
Net sales	(0.2)	(4)
Aerial Work Platforms
Segment Reporting Information [Line Items]
Net sales	542.8	484.8
Aerial Work Platforms \| Operating Segments \| AWP
Segment Reporting Information [Line Items]
Net sales	542.1	484.3
Aerial Work Platforms \| Operating Segments \| MP
Segment Reporting Information [Line Items]
Net sales	0	0
Aerial Work Platforms \| Corporate and Other / Eliminations
Segment Reporting Information [Line Items]
Net sales	0.7	0.5
Materials Processing Equipment
Segment Reporting Information [Line Items]
Net sales	357	334.4
Materials Processing Equipment \| Operating Segments \| AWP
Segment Reporting Information [Line Items]
Net sales	0	0
Materials Processing Equipment \| Operating Segments \| MP
Segment Reporting Information [Line Items]
Net sales	357	334.4
Materials Processing Equipment \| Corporate and Other / Eliminations
Segment Reporting Information [Line Items]
Net sales	0	0
Specialty Equipment
Segment Reporting Information [Line Items]
Net sales	162.5	216
Specialty Equipment \| Operating Segments \| AWP
Segment Reporting Information [Line Items]
Net sales	0	0
Specialty Equipment \| Operating Segments \| MP
Segment Reporting Information [Line Items]
Net sales	162.5	215.7
Specialty Equipment \| Corporate and Other / Eliminations
Segment Reporting Information [Line Items]
Net sales	0	0.3
Other
Segment Reporting Information [Line Items]
Net sales	79.9	72.1
Other \| Operating Segments \| AWP
Segment Reporting Information [Line Items]
Net sales	80.3	73.2
Other \| Operating Segments \| MP
Segment Reporting Information [Line Items]
Net sales	0.5	3.7
Other \| Corporate and Other / Eliminations
Segment Reporting Information [Line Items]
Net sales	(0.9)	(4.8)
Utility Products
Segment Reporting Information [Line Items]
Net sales	150.3	128.4
Utility Products \| Operating Segments \| AWP
Segment Reporting Information [Line Items]
Net sales	150.3	128.4
Utility Products \| Operating Segments \| MP
Segment Reporting Information [Line Items]
Net sales	0	0
Utility Products \| Corporate and Other / Eliminations
Segment Reporting Information [Line Items]
Net sales	$ 0	$ 0

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Millions	3 Months Ended
INCOME TAXES (Details) - USD ($) $ in Millions	Mar. 31, 2024	Mar. 31, 2023
Income Tax Disclosure [Abstract]
Provision for income taxes	$ (28)	$ (23.3)
Income from continuing operations before income taxes	$ 136.5	$ 133.2
Effective income tax rate, continuing operations	20.50%	17.50%

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Earnings per share
Income (loss) from continuing operations	$ 108.5	$ 109.9
Gain (loss) on disposition of discontinued operations – net of tax	0	2.7
Net income (loss)	$ 108.5	$ 112.6
Basic shares:
Weighted average shares outstanding - basic (in shares)	67	67.7
Earnings (loss) per share – basic:
Income (loss) from continuing operations (in dollars per share)	$ 1.62	$ 1.62
Gain (loss) on disposition of discontinued operations - net of tax (in dollars per share)	0	0.04
Net income (loss) (in dollars per share)	$ 1.62	$ 1.66
Diluted shares:
Weighted average shares outstanding - basic (in shares)	67	67.7
Effect of dilutive securities:
Restricted stock (in shares)	0.9	1.1
Diluted weighted average shares outstanding (in shares)	67.9	68.8
Earnings (loss) per share – diluted:
Income (loss) from continuing operations (in dollars per share)	$ 1.60	$ 1.60
Gain (loss) on disposition of discontinued operations - net of tax (in dollars per share)	0	0.04
Net income (loss) (in dollars per share)	$ 1.60	$ 1.64
Restricted Stock
Earnings (loss) per share – diluted:
Antidilutive securities excluded from computation of earnings per share (in shares)	0.3	0.1

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Finished equipment	$ 494.6	$ 467.9
Replacement parts	185.6	185.6
Work-in-process	138.7	131.5
Raw materials and supplies	398.7	401
Inventories	1,217.6	1,186
Inventory reserves	$ 70.1	$ 70.5

PROPERTY, PLANT AND EQUIPMENT_2

PROPERTY, PLANT AND EQUIPMENT (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Property, plant and equipment.
Property, plant and equipment – gross	$ 1,008.9	$ 995
Less: Accumulated depreciation	(435.2)	(425.2)
Property, plant and equipment – net	573.7	569.8
Property
Property, plant and equipment.
Property, plant and equipment – gross	80.2	75.1
Plant
Property, plant and equipment.
Property, plant and equipment – gross	313.1	302.4
Equipment
Property, plant and equipment.
Property, plant and equipment – gross	506.4	492.3
Leasehold improvements
Property, plant and equipment.
Property, plant and equipment – gross	52.1	51.8
Construction in progress
Property, plant and equipment.
Property, plant and equipment – gross	$ 57.1	$ 73.4

GOODWILL AND INTANGIBLE ASSET_2

GOODWILL AND INTANGIBLE ASSETS (Details) $ in Millions	3 Months Ended
GOODWILL AND INTANGIBLE ASSETS (Details) $ in Millions	Mar. 31, 2024 USD ($)
Changes in goodwill by business segment
Balance at the beginning of the period, goodwill gross	$ 356.4
Accumulated impairment	(61.8)
Balance at the beginning of the period, goodwill net	294.6
Foreign exchange effect and other	(2.6)
Balance at the end of the period, goodwill gross	353.8
Accumulated impairment	(61.8)
Balance at the end of the period, goodwill net	292
MP
Changes in goodwill by business segment
Balance at the beginning of the period, goodwill gross	217.5
Accumulated impairment	(23.2)
Balance at the beginning of the period, goodwill net	194.3
Foreign exchange effect and other	(2.2)
Balance at the end of the period, goodwill gross	215.3
Accumulated impairment	(23.2)
Balance at the end of the period, goodwill net	192.1
AWP
Changes in goodwill by business segment
Balance at the beginning of the period, goodwill gross	138.9
Accumulated impairment	(38.6)
Balance at the beginning of the period, goodwill net	100.3
Foreign exchange effect and other	(0.4)
Balance at the end of the period, goodwill gross	138.5
Accumulated impairment	(38.6)
Balance at the end of the period, goodwill net	$ 99.9

GOODWILL AND INTANGIBLE ASSET_3

GOODWILL AND INTANGIBLE ASSETS - INTANGIBLE ASSETS (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Definite-lived intangible assets:
Gross Carrying Amount	$ 78.6		$ 79.3
Accumulated Amortization	(63.8)		(63.6)
Net Carrying Amount	14.8		15.7
Aggregate Amortization Expense	0.6	$ 0.8
Finite-Lived Intangible Assets, Future Amortization Expense [Abstract]
2024	2.4
2025	2.3
2026	2.1
2027	2.1
2028	$ 1.2
Technology
Definite-lived intangible assets:
Weighted Average Life (in years)	7 years
Gross Carrying Amount	$ 9.4		9.6
Accumulated Amortization	(9.3)		(9.5)
Net Carrying Amount	$ 0.1		0.1
Customer Relationships
Definite-lived intangible assets:
Weighted Average Life (in years)	17 years
Gross Carrying Amount	$ 35.2		35.5
Accumulated Amortization	(28.9)		(28.7)
Net Carrying Amount	$ 6.3		6.8
Land Use Rights
Definite-lived intangible assets:
Weighted Average Life (in years)	80 years
Gross Carrying Amount	$ 3.9		3.9
Accumulated Amortization	(0.8)		(0.8)
Net Carrying Amount	$ 3.1		3.1
Other
Definite-lived intangible assets:
Weighted Average Life (in years)	9 years
Gross Carrying Amount	$ 30.1		30.3
Accumulated Amortization	(24.8)		(24.6)
Net Carrying Amount	$ 5.3		$ 5.7

DERIVATIVE FINANCIAL INSTRUME_3

DERIVATIVE FINANCIAL INSTRUMENTS - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Derivative [Line Items]
Cash flow hedge gain (loss) to be reclassified within twelve months	$ 1
Derivatives designated as hedges \| Foreign exchange contracts
Derivative [Line Items]
Derivative, notional amount	1.6	$ 4.6
Derivatives designated as hedges \| Cross currency swaps - net investment hedge \| Net Investment Hedging
Derivative [Line Items]
Derivative, notional amount	248.7	250
Derivatives designated as hedges \| Commodity swaps
Derivative [Line Items]
Derivative, notional amount	16.8	22.2
Derivatives not designated as hedges \| Foreign exchange contracts
Derivative [Line Items]
Derivative, notional amount	$ 199.9	$ 300.1

DERIVATIVE FINANCIAL INSTRUME_4

DERIVATIVE FINANCIAL INSTRUMENTS - Balance Sheet Table (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Derivatives designated as hedges
Derivative [Line Items]
Net derivative asset (liability)	$ (3.3)	$ (7.9)
Derivatives designated as hedges \| Other current assets \| Foreign exchange contracts
Derivative [Line Items]
Derivative assets	0	0.1
Derivatives designated as hedges \| Other current assets \| Cross currency swaps - net investment hedge
Derivative [Line Items]
Derivative assets	0.9	0
Derivatives designated as hedges \| Other current assets \| Commodity swaps
Derivative [Line Items]
Derivative assets	0.8	2.4
Derivatives designated as hedges \| Other non-current assets \| Cross currency swaps - net investment hedge
Derivative [Line Items]
Derivative assets	0.4	0
Derivatives designated as hedges \| Other current liabilities \| Foreign exchange contracts
Derivative [Line Items]
Derivatives liabilities	0	0
Derivatives designated as hedges \| Other current liabilities \| Cross currency swaps - net investment hedge \| Net Investment Hedging
Derivative [Line Items]
Derivatives liabilities	(3.2)	(5.1)
Derivatives designated as hedges \| Other current liabilities \| Commodity swaps
Derivative [Line Items]
Derivatives liabilities	(0.1)	(0.2)
Derivatives designated as hedges \| Other non-current liabilities \| Cross currency swaps - net investment hedge \| Net Investment Hedging
Derivative [Line Items]
Derivatives liabilities	(2.1)	(5.1)
Derivatives not designated as hedges
Derivative [Line Items]
Net derivative asset (liability)	(0.3)	0.9
Derivatives not designated as hedges \| Other current assets \| Foreign exchange contracts
Derivative [Line Items]
Derivative assets	0.4	1.7
Derivatives not designated as hedges \| Other current assets \| Cross currency swaps - net investment hedge
Derivative [Line Items]
Derivative assets	0	0
Derivatives not designated as hedges \| Other current assets \| Commodity swaps
Derivative [Line Items]
Derivative assets	0	0
Derivatives not designated as hedges \| Other non-current assets \| Cross currency swaps - net investment hedge
Derivative [Line Items]
Derivative assets	0	0
Derivatives not designated as hedges \| Other current liabilities \| Foreign exchange contracts
Derivative [Line Items]
Derivatives liabilities	(0.7)	(0.8)
Derivatives not designated as hedges \| Other current liabilities \| Cross currency swaps - net investment hedge \| Net Investment Hedging
Derivative [Line Items]
Derivatives liabilities	0	0
Derivatives not designated as hedges \| Other current liabilities \| Commodity swaps
Derivative [Line Items]
Derivatives liabilities	0	0
Derivatives not designated as hedges \| Other non-current liabilities \| Cross currency swaps - net investment hedge \| Net Investment Hedging
Derivative [Line Items]
Derivatives liabilities	$ 0	$ 0

DERIVATIVE FINANCIAL INSTRUME_5

DERIVATIVE FINANCIAL INSTRUMENTS - Effect of derivative instruments designated as hedges in AOCI (Details) - Derivatives designated as hedges - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Cash Flow Hedging
Derivative [Line Items]
Gain (Loss) Recognized on Derivatives in OCI, net of tax	$ 4.3	$ 1.9
Gain (Loss) Reclassified from AOCI into Income (Loss)	(0.2)	(1.8)
Cash Flow Hedging \| Cost of goods sold
Derivative [Line Items]
Gain (Loss) Reclassified from AOCI into Income (Loss)	(0.2)	(1.8)
Cash Flow Hedging \| Interest Expense
Derivative [Line Items]
Gain (Loss) Reclassified from AOCI into Income (Loss)	0.9	0.8
Cash Flow Hedging \| Foreign exchange contracts
Derivative [Line Items]
Gain (Loss) Recognized on Derivatives in OCI, net of tax	0.1	(0.4)
Cash Flow Hedging \| Foreign exchange contracts \| Cost of goods sold
Derivative [Line Items]
Gain (Loss) Reclassified from AOCI into Income (Loss)	0	0
Cash Flow Hedging \| Commodity swaps
Derivative [Line Items]
Gain (Loss) Recognized on Derivatives in OCI, net of tax	(0.5)	3.3
Cash Flow Hedging \| Commodity swaps \| Cost of goods sold
Derivative [Line Items]
Gain (Loss) Reclassified from AOCI into Income (Loss)	(0.2)	(1.8)
Cash Flow Hedging \| Commodity swaps \| Interest Expense
Derivative [Line Items]
Gain (Loss) Reclassified from AOCI into Income (Loss)	0	0
Net Investment Hedging \| Cross currency swaps - net investment hedge
Derivative [Line Items]
Gain (Loss) Recognized on Derivatives in OCI, net of tax	4.7	(1)
Net Investment Hedging \| Cross currency swaps - net investment hedge \| Selling, general and administrative expenses
Derivative [Line Items]
Gain (Loss) Reclassified from AOCI into Income (Loss)	$ 0	$ 0

DERIVATIVE FINANCIAL INSTRUME_6

DERIVATIVE FINANCIAL INSTRUMENTS - Effect of derivative instruments on income (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Income Statement Accounts in which effects of cash flow hedges are recorded
Cost of goods sold	$ (995.2)	$ (957)
Interest expense	(15)	(14.9)
Cash Flow Hedging \| Derivatives designated as hedges
Income Statement Accounts in which effects of cash flow hedges are recorded
Gain (Loss) Reclassified from AOCI into Income (Loss)	(0.2)	(1.8)
Amount excluded from effectiveness testing recognized in Income (loss) based on amortization approach:
Total	(0.2)	(1.8)
Cash Flow Hedging \| Derivatives designated as hedges \| Cost of goods sold
Income Statement Accounts in which effects of cash flow hedges are recorded
Gain (Loss) Reclassified from AOCI into Income (Loss)	(0.2)	(1.8)
Amount excluded from effectiveness testing recognized in Income (loss) based on amortization approach:
Total	(0.2)	(1.8)
Cash Flow Hedging \| Derivatives designated as hedges \| Interest Expense
Income Statement Accounts in which effects of cash flow hedges are recorded
Gain (Loss) Reclassified from AOCI into Income (Loss)	0.9	0.8
Amount excluded from effectiveness testing recognized in Income (loss) based on amortization approach:
Total	0.9	0.8
Cash Flow Hedging \| Commodity swaps \| Derivatives designated as hedges \| Cost of goods sold
Income Statement Accounts in which effects of cash flow hedges are recorded
Gain (Loss) Reclassified from AOCI into Income (Loss)	(0.2)	(1.8)
Amount excluded from effectiveness testing recognized in Income (loss) based on amortization approach:
Total	(0.2)	(1.8)
Cash Flow Hedging \| Commodity swaps \| Derivatives designated as hedges \| Interest Expense
Income Statement Accounts in which effects of cash flow hedges are recorded
Gain (Loss) Reclassified from AOCI into Income (Loss)	0	0
Amount excluded from effectiveness testing recognized in Income (loss) based on amortization approach:
Total	0	0
Cash Flow Hedging \| Foreign exchange contracts \| Derivatives designated as hedges \| Cost of goods sold
Income Statement Accounts in which effects of cash flow hedges are recorded
Gain (Loss) Reclassified from AOCI into Income (Loss)	0	0
Amount excluded from effectiveness testing recognized in Income (loss) based on amortization approach:
Total	0	0
Cash Flow Hedging \| Reclassification out of Accumulated Other Comprehensive Income \| Accumulated Gain (Loss), Cash Flow Hedge, Including Noncontrolling Interest
Income Statement Accounts in which effects of cash flow hedges are recorded
Cost of goods sold	(995.2)	(957)
Interest expense	(15)	(14.9)
Net Investment Hedging \| Cross currency swaps - net investment hedge \| Derivatives designated as hedges \| Cost of goods sold
Amount excluded from effectiveness testing recognized in Income (loss) based on amortization approach:
Cross currency swaps - net investment hedge	0	0
Net Investment Hedging \| Cross currency swaps - net investment hedge \| Derivatives designated as hedges \| Interest Expense
Amount excluded from effectiveness testing recognized in Income (loss) based on amortization approach:
Cross currency swaps - net investment hedge	$ 0.9	$ 0.8

DERIVATIVE FINANCIAL INSTRUME_7

DERIVATIVE FINANCIAL INSTRUMENTS -Effect of derivative instruments not designated as hedges on income (Details) - Derivatives not designated as hedges - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Derivative [Line Items]
Gain (Loss) Recognized in Income (Loss)	$ (1.3)	$ 0.7
Foreign exchange contracts \| Cost of goods sold
Derivative [Line Items]
Gain (Loss) Recognized in Income (Loss)	(1.2)	(0.3)
Foreign exchange contracts \| Other income (expense) – net
Derivative [Line Items]
Gain (Loss) Recognized in Income (Loss)	$ (0.1)	$ 1

LONG-TERM OBLIGATIONS - Credit

LONG-TERM OBLIGATIONS - Credit Agreement (Details)		3 Months Ended
LONG-TERM OBLIGATIONS - Credit Agreement (Details)	Apr. 01, 2021	Mar. 31, 2024 USD ($)	Dec. 31, 2023	Feb. 15, 2021 USD ($)	Jan. 31, 2017 USD ($)
Credit Agreement
Debt Instrument [Line Items]
Percentage of capital stock of foreign subsidiary pledged as collateral for borrowings (as a percent)					65%
Letter of Credit \| Credit Agreement
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity		$ 400,000,000
Senior secured term loans \| Secured Debt \| Credit Agreement
Debt Instrument [Line Items]
Face amount of debt				$ 600,000,000
Line of Credit \| Credit Agreement
Debt Instrument [Line Items]
Incremental borrowing capacity					$ 300,000,000
Line of Credit \| Revolving Credit Facility \| Amendment And Restatement Agreement
Debt Instrument [Line Items]
Increase (decrease) in interest rate	(0.025%)
Line of Credit \| Revolving Credit Facility \| Credit Agreement
Debt Instrument [Line Items]
Available borrowing capacity		$ 600,000,000
Springing covenant threshold					30%
Debt instrument covenant minimum interest coverage ratio		2.5
Debt instrument covenant senior secured debt leverage ratio maximum		2.75
Debt, weighted average interest rate		6.67%	0%
Line of credit		$ 99,100,000
Line of Credit \| Letter of Credit \| Additional Credit Agreement
Debt Instrument [Line Items]
Letters of credit maximum available under additional facilities					$ 300,000,000

LONG-TERM OBLIGATIONS - Schedul

LONG-TERM OBLIGATIONS - Schedule of Letters of Credit Outstanding (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Letters of credit outstanding, amount	$ 117.8	$ 119.9
$400 Million Facility
Debt Instrument [Line Items]
Letters of credit outstanding, amount	0	0
$300 Million Facility
Debt Instrument [Line Items]
Letters of credit outstanding, amount	71	71.8
Bilateral Arrangements
Debt Instrument [Line Items]
Letters of credit outstanding, amount	$ 46.8	$ 48.1

LONG-TERM OBLIGATIONS - 5% Seni

LONG-TERM OBLIGATIONS - 5% Senior Notes (Details)	Jan. 31, 2017
Senior Notes \| 5-5/8% Notes
Debt Instrument [Line Items]
Interest rate (as a percent)	5.625%

LONG-TERM OBLIGATIONS - 5% Se_2

LONG-TERM OBLIGATIONS - 5% Senior Notes (Details) - 5% Notes - Senior Notes	Apr. 01, 2021 USD ($)
Debt Disclosure [Abstract]
Face amount of debt	$ 600,000,000
Debt Instrument [Line Items]
Face amount of debt	$ 600,000,000
Interest rate (as a percent)	5%

LONG-TERM OBLIGATIONS - Fair Va

LONG-TERM OBLIGATIONS - Fair Value of Debt (Details) - Medium-term Notes - Secured Debt - 5% Notes $ in Millions	Mar. 31, 2024 USD ($) $ / shares
Debt Instrument [Line Items]
Book Value	$ 600
Fair Value, Inputs, Level 2
Debt Instrument [Line Items]
Fair Value	$ 564
Measurement Input, Quoted Price
Debt Instrument [Line Items]
Quotes \| $ / shares	0.94000

LONG-TERM OBLIGATIONS - Secured

LONG-TERM OBLIGATIONS - Secured Borrowings (Details) - Foreign Tax Authority - Italian Agency of Revenue $ in Millions	Mar. 31, 2024 USD ($)
Debt Instrument [Line Items]
VAT Receivable	$ 18.6
Advance loan on income tax receivable	$ 18.6

RETIREMENT PLANS AND OTHER BE_3

RETIREMENT PLANS AND OTHER BENEFITS (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Other Plans
Components of net periodic cost:
Service cost	$ 0	$ 0
Interest cost	0	0
Expected return on plan assets	0	0
Amortization of actuarial (gain) loss	0	0
Net periodic cost	0	0
U.S. Pension \| Pension Plan
Components of net periodic cost:
Service cost	0	0
Interest cost	0.4	0.4
Expected return on plan assets	0	0
Amortization of actuarial (gain) loss	0	0
Net periodic cost	0.4	0.4
Non-U.S. Pension \| Pension Plan
Components of net periodic cost:
Service cost	0.3	0.2
Interest cost	1.1	1.1
Expected return on plan assets	(0.9)	(0.8)
Amortization of actuarial (gain) loss	0.7	0.6
Net periodic cost	$ 1.2	$ 1.1

LITIGATION AND CONTINGENCIES (D

LITIGATION AND CONTINGENCIES (Details) R$ in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2024 BRL (R$)	Mar. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)
Loss Contingencies and Guarantee Obligations
Estimated ICMS and related interest	R$ 115	$ 23
Guarantee terms maximum	5 years
Allowance for credit losses on guarantees		5.2	$ 5.3
Credit Guarantee
Loss Contingencies and Guarantee Obligations
Guarantees, maximum exposure		$ 84.3	$ 89.4

STOCKHOLDERS' EQUITY - Accumula

STOCKHOLDERS' EQUITY - Accumulated Other Comprehensive Income (Loss) Rollforward (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	$ (287.1)	$ (341.6)
Other comprehensive income (loss) before reclassifications	(29.6)	24.4
Amounts reclassified from AOCI	0.8	1.9
Net other comprehensive income (loss)	(28.8)	26.3
Ending balance	(315.9)	(315.3)
CTA
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(228.3)	(285.5)
Other comprehensive income (loss) before reclassifications	(33.9)	24.4
Amounts reclassified from AOCI	0	0
Net other comprehensive income (loss)	(33.9)	24.4
Ending balance	(262.2)	(261.1)
Derivative Hedging Adj.
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(5.4)	(6.4)
Other comprehensive income (loss) before reclassifications	4	0.5
Amounts reclassified from AOCI	0.3	1.4
Net other comprehensive income (loss)	4.3	1.9
Ending balance	(1.1)	(4.5)
Debt & Equity Securities Adj.
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(2.7)	(3.5)
Other comprehensive income (loss) before reclassifications	(0.2)	0.5
Amounts reclassified from AOCI	0	0
Net other comprehensive income (loss)	(0.2)	0.5
Ending balance	(2.9)	(3)
Pension Liability Adj.
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(50.7)	(46.2)
Other comprehensive income (loss) before reclassifications	0.5	(1)
Amounts reclassified from AOCI	0.5	0.5
Net other comprehensive income (loss)	1	(0.5)
Ending balance	$ (49.7)	$ (46.7)

STOCKHOLDERS' EQUITY - Stock-Ba

STOCKHOLDERS' EQUITY - Stock-Based Compensation (Details) - $ / shares shares in Millions		3 Months Ended
	Mar. 15, 2024	Mar. 31, 2024
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)		0.5
Granted (in dollars per shares)		$ 60.12
Restricted Stock, Time-based
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of awards		61%
Award vesting period		3 years
Restricted Stock, Time-based \| Tranche 1
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage		33.33%
Restricted Stock, Time-based \| Tranche 2
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage		33.33%
Restricted Stock, Time-based \| Tranche 3
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage		33.33%
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of awards		27%
Award vesting period		3 years
Performance Shares \| Tranche 1
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage		100%
Market Condition Award
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of awards		12%
Award vesting period		3 years
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Dividend yields (as a percent)	1.15%
Expected volatility (as a percent)	42.65%
Risk-free interest rate (as a percent)	4.50%
Expected life (in years)	3 years
Market Condition Award \| Tranche 1
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage		100%
Market Condition Award \| March 8, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in dollars per shares)	$ 67.70

STOCKHOLDERS' EQUITY - Share Re

STOCKHOLDERS' EQUITY - Share Repurchases and Dividends (Details) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 19, 2022	Jul. 12, 2018
Stock repurchase program, authorized amount			$ 150,000,000	$ 300,000,000
Treasury stock acquired, cost method	$ 3,000,000	$ 4,000,000
Dividends declared (in dollars per share)	$ 0.17	$ 0.15
Dividends paid (in dollars per share)	$ 0.17	$ 0.15
Share repurchase program approved by Board of Directors
Treasury stock acquired (in shares)	46,337	79,285
Treasury stock acquired, cost method	$ 2,700,000	$ 3,700,000