BUSINESS SEGMENT INFORMATION

12 Months Ended

Dec. 31, 2014

Segment Reporting [Abstract]

BUSINESS SEGMENT INFORMATION

BUSINESS SEGMENT INFORMATION

Terex is a lifting and material handling solutions company. The Company is focused on operational improvement and delivering reliable, customer-driven solutions for a wide range of commercial applications, including the construction, infrastructure, quarrying, mining, manufacturing, transportation, energy and utility industries. The Company operates in five reportable segments: (i) AWP; (ii) Construction; (iii) Cranes; (iv) MHPS; and (v) MP.

The AWP segment designs, manufactures, services and markets aerial work platform equipment, telehandlers and light towers. Customers use these products to construct and maintain industrial, commercial and residential buildings and facilities and for other commercial operations, as well as in a wide range of infrastructure projects.

The Construction segment designs, manufactures and markets compact construction and specialty equipment, as well as their related replacement parts and components. Customers use these products in construction and infrastructure projects, in building roads, bridges, residential and commercial buildings, industrial sites and for material handling applications.

On May 30, 2014, the Company sold its truck business, which was consolidated in the Construction segment, to Volvo Construction Equipment for approximately $160 million. The truck business manufactured and sold off-highway rigid and articulated haul trucks. Included in the transaction was the manufacturing facility in Motherwell, Scotland. As a result of this sale, the reporting of the truck business has been included in discontinued operations for all periods presented.

The Cranes segment designs, manufactures, services, refurbishes and markets mobile telescopic cranes, tower cranes, lattice boom crawler cranes, lattice boom truck cranes, utility equipment and truck-mounted cranes (boom trucks), as well as their related components and replacement parts. Customers use these products primarily for construction, repair and maintenance of commercial buildings, manufacturing facilities, construction and maintenance of utility and telecommunication lines, tree trimming and certain construction and foundation drilling applications and a wide range of infrastructure projects. The segment also provides service and support for industrial cranes and aerial products in North America.

The MHPS segment designs, manufactures, services and markets industrial cranes, including universal cranes, process cranes, rope and chain hoists, electric motors, light crane systems and crane components as well as a diverse portfolio of port and rail equipment including mobile harbor cranes, straddle and sprinter carriers, rubber tired gantry cranes, rail mounted gantry cranes, ship-to-shore gantry cranes, reach stackers, empty container handlers, full container handlers, general cargo lift trucks, automated stacking cranes, automated guided vehicles and terminal automation technology, including software, as well as their related components and replacement parts. Customers use these products for lifting and material handling at manufacturing, port and rail facilities. The segment operates an extensive global sales and service network.

The MP segment designs, manufactures and markets materials processing equipment, including crushers, washing systems, screens, apron feeders, biomass and hand-fed chippers 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.

The Company assists customers in their rental, leasing and acquisition of its products through Terex Financial Services (“TFS”). TFS uses its equipment financing experience to provide financing solutions to customers who purchase the Company’s equipment.

The Company has no customers that accounted for more than 10% of consolidated sales in 2014.  The results of businesses acquired during 2014, 2013 and 2012 are included from the dates of their respective acquisitions.

Included in Eliminations/Corporate are the eliminations among the five segments, as well as general and corporate items. Business segment information is presented below (in millions):

	Year Ended December 31,
	2014			2013			2012
Net Sales
AWP	$	2,369.7		$	2,131.0		$	1,742.4
Construction	836.6			820.0			952.1
Cranes	1,791.1			1,925.5			1,987.6
MHPS	1,783.4			1,698.5			1,742.1
MP	653.1			628.2			661.5
Corporate and Other / Eliminations	(125.0		)	(119.2		)	(103.5		)
Total	$	7,308.9		$	7,084.0		$	6,982.2
Income (loss) from Operations
AWP	$	302.8		$	325.8		$	210.9
Construction	1.2			(24.8		)	(69.3		)
Cranes	85.9			110.5			168.0
MHPS	(17.2		)	(41.8		)	5.6
MP	60.6			71.8			75.3
Corporate and Other / Eliminations	(10.2		)	(22.4		)	(23.7		)
Total	$	423.1		$	419.1		$	366.8
Depreciation and Amortization
AWP	$	11.6		$	9.9		$	12.0
Construction	19.3			22.2			23.5
Cranes	29.9			31.5			29.6
MHPS	65.8			61.2			64.3
MP	6.0			5.9			5.1
Corporate	22.8			20.8			17.7
Total	$	155.4		$	151.5		$	152.2
Capital Expenditures
AWP	$	28.6		$	19.5		$	15.1
Construction	3.7			3.8			6.6
Cranes	14.0			15.1			13.8
MHPS	21.8			24.1			32.9
MP	4.4			5.6			4.9
Corporate	7.5			11.4			7.9
Total	$	80.0		$	79.5		$	81.2

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

	December 31,
	2014			2013
Identifiable Assets
AWP	$	1,143.5		$	937.2
Construction	1,246.0			1,012.5
Cranes	1,959.7			2,040.3
MHPS	2,744.0			2,989.5
MP	813.6			945.6
Corporate and Other / Eliminations	(1,978.8		)	(1,533.3		)
Discontinued operations	—			144.9
Total	$	5,928.0		$	6,536.7

Geographic segment information is presented below (in millions):

	Year Ended December 31,
	2014		2013		2012
Net Sales
United States	$	2,746.2	$	2,592.3	$	2,260.2
United Kingdom	401.7		247.2		263.8
Germany	642.8		621.4		659.2
Other European countries	1,480.5		1,226.6		1,343.7
All other	2,037.7		2,396.5		2,455.3
Total	$	7,308.9	$	7,084.0	$	6,982.2

	December 31,
	2014		2013
Long-lived Assets
United States	$	191.6	$	200.6
United Kingdom	23.9		28.3
Germany	253.0		305.3
Other European countries	91.3		106.9
All other	130.5		148.3
Total	$	690.3	$	789.4

The Company attributes sales to unaffiliated customers in different geographical areas based on the location of the customer.  Long-lived assets consist of net fixed assets, which can be attributed to the specific geographic regions.