Business Segment Information (Tables)

12 Months Ended

Sep. 30, 2019

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

	Fiscal Year Ended September 30,
	2019								2018								2017
	External Customers		Inter- segment			Net Sales			External Customers		Inter- segment			Net Sales			External Customers		Inter- segment			Net Sales
Access equipment
Aerial work platforms	$	1,944.4	$	—		$	1,944.4		$	2,017.2	$	—		$	2,017.2		$	1,629.6	$	—		$	1,629.6
Telehandlers		1,254.9		—			1,254.9			948.9		—			948.9			661.8		—			661.8
Other		880.4		—			880.4			810.7		—			810.7			735.0		—			735.0
Total access equipment		4,079.7		—			4,079.7			3,776.8		—			3,776.8			3,026.4		—			3,026.4

Defense		2,030.3		1.8			2,032.1			1,827.3		1.6			1,828.9			1,818.6		1.5			1,820.1

Fire & emergency		1,249.8		16.3			1,266.1			1,053.6		16.1			1,069.7			1,015.4		15.5			1,030.9

Commercial
Concrete placement		439.9		—			439.9			491.8		—			491.8			474.0		—			474.0
Refuse collection		451.9		—			451.9			438.3		—			438.3			391.1		—			391.1
Other		128.3		2.1			130.4			116.7		7.9			124.6			99.3		5.9			105.2
Total commercial		1,020.1		2.1			1,022.2			1,046.8		7.9			1,054.7			964.4		5.9			970.3
Corporate and intersegment eliminations		2.1		(20.2	)		(18.1	)		1.0		(25.6	)		(24.6	)		4.8		(22.9	)		(18.1	)
Consolidated	$	8,382.0	$	—		$	8,382.0		$	7,705.5	$	—		$	7,705.5		$	6,829.6	$	—		$	6,829.6

	Fiscal Year Ended September 30,
				As adjusted
	2019			2018			2017
Operating income (loss):
Access equipment ^(a)	$	502.6		$	387.5		$	259.6
Defense ^(b)		203.3			225.4			211.4
Fire & emergency		176.5			137.6			107.2
Commercial ^(c)		66.8			67.5			43.8
Corporate		(152.2	)		(162.0	)		(151.7	)
Consolidated		797.0			656.0			470.3
Interest expense, net of interest income ^(d)		(47.6	)		(55.6	)		(54.9	)
Miscellaneous other (expense) income		1.3			(5.8	)		(4.1	)
Income before income taxes and earnings of unconsolidated affiliates	$	750.7		$	594.6		$	411.3

^(a)	Fiscal 2018 results include $4.7 million of restructuring costs and $24.8 million of operating expenses related to restructuring plans. Fiscal 2017 results include $35.8 million of restructuring costs and $9.4 million of operating expenses related to restructuring plans.

^(b)	Fiscal 2018 results include a $19.0 million gain for a litigation settlement. See Note 17 of the Notes to Consolidated Financial Statements for additional details regarding the settlement.

^(c)	Fiscal 2018 results include $5.4 million of restructuring costs, a business interruption insurance gain of $6.6 million and a loss on the sale of a small product line of $1.4 million.

^(d)	Fiscal 2018 results include $9.9 million in debt extinguishment costs.

	Fiscal Year Ended September 30,
	2019		2018		2017
Depreciation and amortization:
Access equipment	$	58.2	$	61.1	$	72.1
Defense		17.3		15.2		14.5
Fire & emergency		9.5		9.5		9.4
Commercial		12.4		12.9		12.7
Corporate		17.8		21.8		21.6
Consolidated	$	115.2	$	120.5	$	130.3
Capital expenditures:
Access equipment ^(a)	$	61.4	$	34.2	$	51.4
Defense		31.4		29.1		31.9
Fire & emergency		12.8		12.8		7.2
Commercial ^(a)		18.1		12.0		10.9
Corporate ^(b)		50.5		12.0		11.8
Consolidated	$	174.2	$	100.1	$	113.2

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

⁽^b⁾	Capital expenditures include capital spending for the construction of the Company’s new global headquarters.

	September 30,
	2019		2018
Identifiable assets:
Access equipment:
U.S.	$	2,317.2	$	2,207.2
Europe, Africa and Middle East		403.4		406.6
Rest of the world		252.6		215.2
Total access equipment		2,973.2		2,829.0
Defense:
U.S.		883.0		824.2
Rest of the world		6.7		5.1
Total defense		889.7		829.3
Fire & emergency - U.S.		587.9		564.9
Commercial:
U.S.		383.6		364.3
Rest of the world		48.9		45.4
Total commercial		432.5		409.7
Corporate:
U.S. ^(a)		597.6		548.6
Rest of the world ^(b)		85.4		112.7
Total corporate		683.0		661.3
Consolidated	$	5,566.3	$	5,294.2

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

^(b)	Primarily includes the corporate-led shared manufacturing facility in Mexico that supports multiple operating segments.

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

	Fiscal Year Ended September 30, 2019
	Access equipment		Defense		Fire & emergency		Commercial		Eliminations			Total
Net sales:
North America	$	3,147.9	$	1,946.7	$	1,142.3	$	997.8	$	(18.1	)	$	7,216.6
Europe, Africa and Middle East		548.6		84.0		27.7		3.9		—			664.2
Rest of the World		383.2		1.4		96.1		20.5		—			501.2
Consolidated	$	4,079.7	$	2,032.1	$	1,266.1	$	1,022.2	$	(18.1	)	$	8,382.0

	Fiscal Year Ended September 30, 2018
	Access equipment		Defense		Fire & emergency		Commercial		Eliminations			Total
Net sales:
North America	$	2,849.9	$	1,612.9	$	1,006.8	$	1,044.6	$	(24.6	)	$	6,489.6
Europe, Africa and Middle East		630.2		215.0		4.7		1.9		—			851.8
Rest of the World		296.7		1.0		58.2		8.2		—			364.1
Consolidated	$	3,776.8	$	1,828.9	$	1,069.7	$	1,054.7	$	(24.6	)	$	7,705.5

	Fiscal Year Ended September 30, 2017
	Access equipment		Defense		Fire & emergency		Commercial		Eliminations			Total
Net sales:
North America	$	2,238.3	$	1,234.1	$	883.9	$	946.2	$	(18.1	)	$	5,284.4
Europe, Africa and Middle East		539.1		582.8		23.2		1.8		—			1,146.9
Rest of the World		249.0		3.2		123.8		22.3		—			398.3
Consolidated	$	3,026.4	$	1,820.1	$	1,030.9	$	970.3	$	(18.1	)	$	6,829.6