CONSOLIDATING FINANCIAL STATEMENTS (Tables)

12 Months Ended

Dec. 31, 2011

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Condensed consolidating income statement

TEREX CORPORATION

CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME

YEAR ENDED DECEMBER 31, 2011

(in millions)

	Terex Corporation			Wholly-owned Guarantors			Non-guarantor Subsidiaries			Intercompany Eliminations			Consolidated
Net sales	$	336.9		$	2,340.8		$	4,654.9		$	(828.0	)	$	6,504.6
Cost of goods sold	(301.2		)	(2,044.0		)	(4,027.1		)	828.0			(5,544.3		)
Gross profit	35.7			296.8			627.8			—			960.3
Selling, general and administrative expenses	(23.5		)	(226.2		)	(629.4		)	—			(879.1		)
Income (loss) from operations	12.2			70.6			(1.6		)	—			81.2
Interest income	161.5			201.0			15.7			(363.9		)	14.3
Interest expense	(302.9		)	(74.3		)	(121.6		)	363.9			(134.9		)
(Loss) income from subsidiaries	75.8			(7.3		)	—			(68.5		)	—
Loss on early extinguishment of debt	(7.7		)	—			—			—			(7.7		)
Other income (expense) - net	92.7			(13.8		)	52.7			—			131.6
Income (loss) from continuing operations before income taxes	31.6			176.2			(54.8		)	(68.5		)	84.5
(Provision for) benefit from income taxes	15.9			(66.1		)	(0.2		)	—			(50.4		)
Income (loss) from continuing operations	47.5			110.1			(55.0		)	(68.5		)	34.1
Income from discontinued operations - net of tax	—			—			5.8			—			5.8
Loss on disposition of discontinued operations - net of tax	(2.3		)	—			3.1			—			0.8
Net income (loss)	45.2			110.1			(46.1		)	(68.5		)	40.7
Net loss attributable to noncontrolling interest	—			—			4.5			—			4.5
Net income (loss) attributable to Terex Corporation	$	45.2		$	110.1		$	(41.6	)	$	(68.5	)	$	45.2
Comprehensive income (loss), net of tax	$	(180.7	)	$	139.5		$	(106.1	)	$	(38.8	)	$	(186.1	)
Comprehensive loss (income) attributable to noncontrolling interest	$	—		$	—		$	5.4		$	—		$	5.4
Comprehensive income (loss) attributable to Terex Corporation	$	(180.7	)	$	139.5		$	(100.7	)	$	(38.8	)	$	(180.7	)

TEREX CORPORATION

CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME

YEAR ENDED DECEMBER 31, 2010

(in millions)

	Terex Corporation			Wholly-owned Guarantors			Non-guarantor Subsidiaries			Intercompany Eliminations			Consolidated
Net sales	$	218.9		$	1,619.2		$	3,141.4		$	(561.3	)	$	4,418.2
Cost of goods sold	(200.8		)	(1,439.4		)	(2,736.4		)	561.3			(3,815.3		)
Gross profit	18.1			179.8			405.0			—			602.9
Selling, general and administrative expenses	(79.4		)	(187.6		)	(409.7		)	—			(676.7		)
Loss from operations	(61.3		)	(7.8		)	(4.7		)	—			(73.8		)
Interest income	56.2			193.1			28.0			(267.5		)	9.8
Interest expense	(323.0		)	(77.3		)	(12.6		)	267.5			(145.4		)
Income (loss) from subsidiaries	440.9			(3.9		)	—			(437.0		)	—
Loss on early extinguishment of debt	(1.4		)	—			—			—			(1.4		)
Other expense - net	(1.6		)	17.6			(43.5		)	—			(27.5		)
(Loss) income from continuing operations before income taxes	109.8			121.7			(32.8		)	(437.0		)	(238.3		)
Benefit from (provision for) income taxes	119.2			(45.2		)	(47.2		)	—			26.8
(Loss) income from continuing operations	229.0			76.5			(80.0		)	(437.0		)	(211.5		)
Loss from discontinued operations – net of tax	(3.5		)	(2.3		)	(9.5		)	—			(15.3		)
Gain on disposition of discontinued operations - net of tax	133.0			76.9			379.4			—			589.3
Net income (loss)	358.5			151.1			289.9			(437.0		)	362.5
Net income attributable to noncontrolling interest	—			—			(4.0		)	—			(4.0		)
Net income (loss) attributable to Terex Corporation	$	358.5		$	151.1		$	285.9		$	(437.0	)	$	358.5
Comprehensive income (loss), net of tax	422.9			152.0			295.3			(443.2		)	427.0
Comprehensive loss (income) attributable to noncontrolling interest	—			—			(4.1		)	—			(4.1		)
Comprehensive income (loss) attributable to Terex Corporation	422.9			152.0			291.2			(443.2		)	422.9

TEREX CORPORATION

CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME

YEAR ENDED DECEMBER 31, 2009

(in millions)

	Terex Corporation			Wholly-owned Guarantors			Non-guarantor Subsidiaries			Intercompany Eliminations			Consolidated
Net sales	$	135.8		$	1,200.0		$	2,806.0		$	(283.4	)	$	3,858.4
Cost of goods sold	(143.1		)	(1,200.7		)	(2,501.0		)	283.4			(3,561.4		)
Gross profit	(7.3		)	(0.7		)	305.0			—			297.0
Selling, general and administrative expenses	(63.7		)	(213.8		)	(421.2		)	—			(698.7		)
Loss from operations	(71.0		)	(214.5		)	(116.2		)	—			(401.7		)
Interest income	159.0			178.1			37.1			(369.3		)	4.9
Interest expense	(294.8		)	(76.5		)	(117.4		)	369.3			(119.4		)
Income (loss) from subsidiaries	(231.6		)	(20.3		)	—			251.9			—
Loss on early extinguishment of debt	(3.3		)	—			—			—			(3.3		)
Other expense - net	(6.5		)	6.0			(3.8		)	—			(4.3		)
(Loss) income from continuing operations before income taxes	(448.2		)	(127.2		)	(200.3		)	251.9			(523.8		)
Benefit from income taxes	78.0			38.5			0.9			—			117.4
(Loss) income from continuing operations	(370.2		)	(88.7		)	(199.4		)	251.9			(406.4		)
Income (loss) from discontinued operations – net of tax	(17.4		)	(2.6		)	41.7			—			21.7
Loss on disposition of discontinued operations - net of tax	(10.8		)	(1.8		)	—			—			(12.6		)
Net (loss) income	(398.4		)	(93.1		)	(157.7		)	251.9			(397.3		)
Net income attributable to noncontrolling interest	—			(0.5		)	(0.6		)	—			(1.1		)
Net (loss) income attributable to Terex Corporation	$	(398.4	)	$	(93.6	)	$	(158.3	)	$	251.9		$	(398.4	)
Comprehensive income (loss), net of tax	(280.1		)	(84.9		)	(103.2		)	190.4			(277.8		)
Comprehensive loss (income) attributable to noncontrolling interest	—			(0.5		)	(1.8		)	—			(2.3		)
Comprehensive income (loss) attributable to Terex Corporation	(280.1		)	(85.4		)	(105.0		)	190.4			(280.1		)

Condensed consolidating balance sheet

TEREX CORPORATION

CONDENSED CONSOLIDATING BALANCE SHEET

DECEMBER 31, 2011

(in millions)

	Terex Corporation		Wholly-owned Guarantors		Non-guarantor Subsidiaries		Intercompany Eliminations			Consolidated
Assets
Current assets
Cash and cash equivalents	$	264.0	$	2.3	$	507.8	$	—		$	774.1
Trade receivables - net	32.0		229.1		917.0		—			1,178.1
Intercompany receivables	48.9		118.3		74.8		(242.0		)	—
Inventories	71.3		378.8		1,308.0		—			1,758.1
Other current assets	118.0		38.2		186.7		—			342.9
Total current assets	534.2		766.7		2,994.3		(242.0		)	4,053.2
Property, plant and equipment - net	62.8		109.6		663.1		—			835.5
Goodwill	—		149.6		1,083.3		—			1,232.9
Non-current intercompany receivables	1,272.8		1,236.7		40.3		(2,549.8		)	—
Investment in and advances to (from) subsidiaries	2,698.6		68.8		42.6		(2,750.8		)	59.2
Other assets	113.4		186.1		583.1		—			882.6
Total assets	$	4,681.8	$	2,517.5	$	5,406.7	$	(5,542.6	)	$	7,063.4
Liabilities and Stockholders’ Equity
Current liabilities
Notes payable and current portion of long-term debt	$	4.6	$	0.1	$	72.3	$	—		$	77.0
Trade accounts payable	29.6		164.8		570.2		—			764.6
Intercompany payables	—		49.3		192.7		(242.0		)	—
Accruals and other current liabilities	95.8		122.8		830.7		—			1,049.3
Total current liabilities	130.0		337.0		1,665.9		(242.0		)	1,890.9
Long-term debt, less current portion	1,261.6		1.8		960.0		—			2,223.4
Non-current intercompany payables	1,201.0		—		1,348.8		(2,549.8		)	—
Other non-current liabilities	178.9		37.8		544.0		—			760.7
Total stockholders’ equity	1,910.3		2,140.9		888.0		(2,750.8		)	2,188.4
Total liabilities and stockholders’ equity	$	4,681.8	$	2,517.5	$	5,406.7	$	(5,542.6	)	$	7,063.4

TEREX CORPORATION

CONDENSED CONSOLIDATING BALANCE SHEET

DECEMBER 31, 2010

(in millions)

	Terex Corporation		Wholly-owned Guarantors		Non-guarantor Subsidiaries			Intercompany Eliminations			Consolidated
Assets
Current assets
Cash and cash equivalents	$	164.2	$	2.0	$	728.0		$	—		$	894.2
Investments in marketable securities	520.9		0.5		—			—			521.4
Trade receivables - net	22.9		208.7		550.9			—			782.5
Intercompany receivables	9.5		93.1		44.1			(146.7		)	—
Inventories	66.3		341.6		1,040.8			—			1,448.7
Other current assets	154.6		37.4		130.1			—			322.1
Total current assets	938.4		683.3		2,493.9			(146.7		)	3,968.9
Property, plant and equipment - net	54.6		112.5		406.4			—			573.5
Goodwill	—		154.1		338.8			—			492.9
Non-current intercompany receivables	709.3		1,019.0		40.7			(1,769.0		)	—
Investment in and advances to (from) subsidiaries	2,785.1		72.1		(5.4		)	(2,823.1		)	28.7
Other assets	69.6		187.2		195.6			—			452.4
Total assets	$	4,557.0	$	2,228.2	$	3,470.0		$	(4,738.8	)	$	5,516.4
Liabilities and Stockholders’ Equity
Current liabilities
Notes payable and current portion of long-term debt	$	297.2	$	0.2	$	49.4		$	—		$	346.8
Trade accounts payable	24.9		130.3		414.8			—			570.0
Intercompany payables	43.1		26.5		77.1			(146.7		)	—
Accruals and other current liabilities	127.7		87.1		542.6			—			757.4
Total current liabilities	492.9		244.1		1,083.9			(146.7		)	1,674.2
Long-term debt, less current portion	879.6		119.3		340.6			—			1,339.5
Non-current intercompany payables	967.2		—		801.8			(1,769.0		)	—
Other non-current liabilities	134.1		52.1		205.1			—			391.3
Total stockholders’ equity	2,083.2		1,812.7		1,038.6			(2,823.1		)	2,111.4
Total liabilities and stockholders’ equity	$	4,557.0	$	2,228.2	$	3,470.0		$	(4,738.8	)	$	5,516.4

Condensed consolidating statement of cash flows

TEREX CORPORATION

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

YEAR ENDED DECEMBER 31, 2011

(in millions)

	Terex Corporation			Wholly-owned Guarantors			Non-guarantor Subsidiaries			Intercompany Eliminations			Consolidated
Net cash provided by (used in) operating activities of continuing operations	$	(10.7	)	$	17.0		$	12.8		$	—		$	19.1
Cash flows from investing activities
Capital expenditures	(10.4		)	(22.5		)	(46.2		)	—			(79.1		)
Acquisition of business, net of cash acquired	—			(2.0		)	(1,033.2		)	—			(1,035.2		)
Proceeds from disposition of discontinued operations	—			—			0.5			—			0.5
Investments in derivative securities	(16.1		)	—			—			—			(16.1		)
Proceeds from sale of assets	531.8			0.1			7.7			—			539.6
Intercompany investing activities	(526.1		)	12.6			(47.6		)	561.1			—
Other investing activities, net	—			—			(2.2		)	—			(2.2		)
Net cash (used in) provided by investing activities of continuing operations	(20.8		)	(11.8		)	(1,121.0		)	561.1			(592.5		)
Cash flows from financing activities
Repayments of debt	(298.8		)	(0.5		)	(144.9		)	—			(444.2		)
Proceeds from issuance of debt	455.5			1.9			469.3			—			926.7
Payment of debt issuance cost	(26.6		)	—			—			—			(26.6		)
Purchase of noncontrolling interest	—			(6.3		)	—			—			(6.3		)
Intercompany financing activities	(2.5		)	—			563.6			(561.1		)	—
Other financing activities, net	3.7			—			0.9			—			4.6
Net cash provided by (used in) financing activities of continuing operations	131.3			(4.9		)	888.9			(561.1		)	454.2
Cash flows from discontinued operations
Net cash used in operating activities of discontinued operations	—			—			—			—			—
Net cash provided by investing activities of discontinued operations	—			—			—			—			—
Net cash provided by financing activities of discontinued operations	—			—			—			—			—
Net cash used in discontinued operations	—			—			—			—			—
Effect of exchange rate changes on cash and cash equivalents	—			—			(0.9		)	—			(0.9		)
Net increase (decrease) in cash and cash equivalents	99.8			0.3			(220.2		)	—			(120.1		)
Cash and cash equivalents, beginning of period	164.2			2.0			728.0			—			894.2
Cash and cash equivalents, end of period	$	264.0		$	2.3		$	507.8		$	—		$	774.1

TEREX CORPORATION

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

YEAR ENDED DECEMBER 31, 2010

(in millions)

	Terex Corporation			Wholly-owned Guarantors			Non-guarantor Subsidiaries			Intercompany Eliminations			Consolidated
Net cash (used in) provided by operating activities of continuing operations	$	(454.0	)	$	65.6		$	(221.7	)	$	—		$	(610.1	)
Cash flows from investing activities
Capital expenditures	(8.7		)	(10.6		)	(35.7		)	—			(55.0		)
Acquisition of business	(12.8		)	—			—			—			(12.8		)
Investments in and advances to affiliates	(14.6		)	—			(4.7		)	—			(19.3		)
Proceeds from disposition of discontinued operations	294.8			—			707.2			—			1,002.0
Investments in derivative securities	(21.1		)	—			—			—			(21.1		)
Proceeds from sale of assets	2.4			1.4			6.2			—			10.0
Intercompany investing activities	(17.9		)	—			—			17.9			—
Net cash provided by (used in) investing activities of continuing operations	222.1			(9.2		)	673.0			17.9			903.8
Cash flows from financing activities
Repayments of debt	(159.3		)	(51.6		)	(154.6		)	—			(365.5		)
Proceeds from issuance of debt	—			—			73.9			—			73.9
Payment of debt issuance cost	(6.0		)	(0.8		)	(1.0		)	—			(7.8		)
Purchase of noncontrolling interest	—			—			(12.9		)	—			(12.9		)
Distributions to noncontrolling interest	—			(0.2		)	(3.2		)	—			(3.4		)
Intercompany financing activities	—			—			17.9			(17.9		)	—
Other financing activities, net	1.3			(0.1		)	(1.2		)	—			—
Net cash used in financing activities of continuing operations	(164.0		)	(52.7		)	(81.1		)	(17.9		)	(315.7		)
Cash flows from discontinued operations
Net cash used in operating activities of discontinued operations	(19.3		)	(2.2		)	(31.6		)	—			(53.1		)
Net cash provided by investing activities of discontinued operations	—			—			0.1			—			0.1
Net cash provided by financing activities of discontinued operations	—			—			—			—			—
Net cash used in discontinued operations	(19.3		)	(2.2		)	(31.5		)	—			(53.0		)
Effect of exchange rate changes on cash and cash equivalents	—			—			(2.0		)	—			(2.0		)
Net (decrease) increase in cash and cash equivalents	(415.2		)	1.5			336.7			—			(77.0		)
Cash and cash equivalents, beginning of period	579.4			0.5			391.3			—			971.2
Cash and cash equivalents, end of period	$	164.2		$	2.0		$	728.0		$	—		$	894.2

TEREX CORPORATION

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

YEAR ENDED DECEMBER 31, 2009

(in millions)

	Terex Corporation			Wholly- owned Guarantors			Non- guarantor Subsidiaries			Intercompany Eliminations			Consolidated
Net cash (used in) provided by operating activities	$	36.1		$	(14.1	)	$	(62.6	)	$	—		$	(40.6	)
Cash flows from investing activities
Acquisition of businesses, net of cash acquired	—			—			(9.8		)	—			(9.8		)
Capital expenditures	(11.4		)	(7.4		)	(31.6		)	—			(50.4		)
Proceeds from sale of assets	0.2			1.2			4.7			—			6.1
Intercompany investing activities	(71.1		)	0.3			0.5			70.3			—
Net cash used in investing activities	(82.3		)	(5.9		)	(36.2		)	70.3			(54.1		)
Cash flows from financing activities
Repayments of debt	(527.8		)	(2.5		)	(154.7		)	—			(685.0		)
Proceeds from issuance of debt	1,035.5			—			78.8			—			1,114.3
Proceeds from issuance of common stock	156.3			—			—			—			156.3
Payment of debt issuance costs	(17.2		)	—			—			—			(17.2		)
Purchase of noncontrolling interest	—			(1.7		)	—			—			(1.7		)
Distributions to noncontrolling interest	—			(1.0		)	(6.1		)	—			(7.1		)
Intercompany financing activities	(0.5		)	1.7			69.1			(70.3		)	—
Other financing activities, net	0.6			—			(1.4		)	—			(0.8		)
Net cash provided by (used in) financing activities	646.9			(3.5		)	(14.3		)	(70.3		)	558.8
Cash flows from discontinued operations
Net cash (used in) provided by operating activities of discontinued operations	(22.6		)	19.2			6.3			—			2.9
Net cash used in investing activities of discontinued operations	(0.2		)	(0.4		)	(6.4		)	—			(7.0		)
Net cash used in financing activities of discontinued operations	—			(0.2		)	—			—			(0.2		)
Net cash provided by (used in) discontinued operations	(22.8		)	18.6			(0.1		)	—			(4.3		)
Effect of exchange rate changes on cash and cash equivalents	—			—			27.0			—			27.0
Net increase (decrease) in cash and cash equivalents	577.9			(4.9		)	(86.2		)	—			486.8
Cash and cash equivalents, beginning of period	1.5			5.4			477.5			—			484.4
Cash and cash equivalents, end of period	$	579.4		$	0.5		$	391.3		$	—		$	971.2