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CONSOLIDATING FINANCIAL STATEMENTS (Tables)
 6 Months Ended
Jun. 30, 2016
Condensed Financial Information of Parent Company Only Disclosure [Abstract]  
Condensed Consolidating Statement of Comprehensive Income
TEREX CORPORATION
CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)
THREE MONTHS ENDED JUNE 30, 2016
(in millions)
 
Terex
Corporation
 
Wholly-owned
Guarantors
 
Non-guarantor
Subsidiaries
 
Intercompany
Eliminations
 
Consolidated
Net sales
$
1.5

 
$
762.6

 
$
783.5

 
$
(249.9
)
 
$
1,297.7

Cost of goods sold
(1.3
)
 
(645.8
)
 
(653.6
)
 
245.1

 
(1,055.6
)
Gross profit
0.2

 
116.8

 
129.9

 
(4.8
)
 
242.1

Selling, general and administrative expenses
(11.0
)
 
(62.6
)
 
(99.9
)
 
4.8

 
(168.7
)
Income (loss) from operations
(10.8
)
 
54.2

 
30.0

 
—

 
73.4

Interest income
25.1

 
17.2

 
0.5

 
(41.7
)
 
1.1

Interest expense
(37.3
)
 
(2.4
)
 
(27.5
)
 
41.7

 
(25.5
)
Loss on early extinguishment of debt
—

 
—

 
(0.4
)
 
—

 
(0.4
)
Income (loss) from subsidiaries
141.6

 
4.7

 
(2.1
)
 
(144.2
)
 
—

Other income (expense) – net
(15.9
)
 
7.4

 
2.4

 
—

 
(6.1
)
Income (loss) from continuing operations before income taxes
102.7

 
81.1

 
2.9

 
(144.2
)
 
42.5

(Provision for) benefit from income taxes
6.9

 
(7.7
)
 
67.9

 
—

 
67.1

Income (loss) from continuing operations
109.6

 
73.4

 
70.8

 
(144.2
)
 
109.6

Income (loss) from discontinued operations – net of tax
(45.2
)
 
(5.4
)
 
(45.3
)
 
50.8

 
(45.1
)
Gain (loss) on disposition of discontinued operations – net of tax
—

 
—

 
0.1

 
—

 
0.1

Net income (loss)
64.4

 
68.0

 
25.6

 
(93.4
)
 
64.6

Net loss (income) from continuing operations attributable to noncontrolling interest
—

 
—

 
—

 
—

 
—

Net loss (income) from discontinued operations attributable to noncontrolling interest
—

 
—

 
0.5

 
—

 
0.5

Net income (loss) attributable to Terex Corporation
$
64.4

 
$
68.0

 
$
26.1

 
$
(93.4
)
 
$
65.1

 
 
 
 
 
 
 
 
 
 
Comprehensive income (loss), net of tax
$
0.3

 
$
68.1

 
$
38.5

 
$
(107.4
)
 
$
(0.5
)
Comprehensive loss (income) attributable to noncontrolling interest
—

 
—

 
0.8

 
—

 
0.8

Comprehensive income (loss) attributable to Terex Corporation
$
0.3

 
$
68.1

 
$
39.3

 
$
(107.4
)
 
$
0.3


TEREX CORPORATION
CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)
SIX MONTHS ENDED JUNE 30, 2016
(in millions)
 
Terex
Corporation
 
Wholly-owned
Guarantors
 
Non-guarantor
Subsidiaries
 
Intercompany
Eliminations
 
Consolidated
Net sales
$
2.2

 
$
1,424.0

 
$
1,456.6

 
$
(470.8
)
 
$
2,412.0

Cost of goods sold
(1.9
)
 
(1,216.8
)
 
(1,233.0
)
 
463.5

 
(1,988.2
)
Gross profit
0.3

 
207.2

 
223.6

 
(7.3
)
 
423.8

Selling, general and administrative expenses
(18.2
)
 
(134.2
)
 
(194.0
)
 
7.3

 
(339.1
)
Income (loss) from operations
(17.9
)
 
73.0

 
29.6

 
—

 
84.7

Interest income
49.3

 
34.3

 
1.3

 
(82.6
)
 
2.3

Interest expense
(74.1
)
 
(4.4
)
 
(54.3
)
 
82.6

 
(50.2
)
Loss on early extinguishment of debt
—

 
—

 
(0.4
)
 
—

 
(0.4
)
Income (loss) from subsidiaries
152.8

 
10.3

 
(5.4
)
 
(157.7
)
 
—

Other income (expense) – net
(33.8
)
 
16.3

 
5.5

 
—

 
(12.0
)
Income (loss) from continuing operations before income taxes
76.3

 
129.5

 
(23.7
)
 
(157.7
)
 
24.4

(Provision for) benefit from income taxes
11.3

 
(12.9
)
 
64.8

 
—

 
63.2

Income (loss) from continuing operations
87.6

 
116.6

 
41.1

 
(157.7
)
 
87.6

Income (loss) from discontinued operations – net of tax
(97.5
)
 
(3.1
)
 
(98.1
)
 
101.2

 
(97.5
)
Gain (loss) on disposition of discontinued operations – net of tax
0.5

 
—

 
3.0

 
—

 
3.5

Net income (loss)
(9.4
)
 
113.5

 
(54.0
)
 
(56.5
)
 
(6.4
)
Net loss (income) from continuing operations attributable to noncontrolling interest
—

 
—

 
—

 
—

 
—

Net loss (income) from discontinued operations attributable to noncontrolling interest
—

 
—

 
0.7

 
—

 
0.7

Net income (loss) attributable to Terex Corporation
$
(9.4
)
 
$
113.5

 
$
(53.3
)
 
$
(56.5
)
 
$
(5.7
)
 
 
 
 
 
 
 
 
 
 
Comprehensive income (loss), net of tax
$
(12.2
)
 
$
113.9

 
$
12.8

 
$
(127.6
)
 
$
(13.1
)
Comprehensive loss (income) attributable to noncontrolling interest
—

 
—

 
0.9

 
—

 
0.9

Comprehensive income (loss) attributable to Terex Corporation
$
(12.2
)
 
$
113.9

 
$
13.7

 
$
(127.6
)
 
$
(12.2
)


TEREX CORPORATION
CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)
THREE MONTHS ENDED JUNE 30, 2015
(in millions)
 
Terex
Corporation
 
Wholly-owned
Guarantors
 
Non-guarantor
Subsidiaries
 
Intercompany
Eliminations
 
Consolidated
Net sales
$
4.6

 
$
887.8

 
$
810.5

 
$
(260.0
)
 
$
1,442.9

Cost of goods sold
(3.9
)
 
(710.6
)
 
(686.2
)
 
260.0

 
(1,140.7
)
Gross profit
0.7

 
177.2

 
124.3

 
—

 
302.2

Selling, general and administrative expenses
(8.3
)
 
(64.6
)
 
(93.2
)
 
—

 
(166.1
)
Income (loss) from operations
(7.6
)
 
112.6

 
31.1

 
—

 
136.1

Interest income
25.6

 
17.2

 
—

 
(41.9
)
 
0.9

Interest expense
(39.5
)
 
(1.6
)
 
(28.7
)
 
41.9

 
(27.9
)
Income (loss) from subsidiaries
102.7

 
(0.7
)
 
0.9

 
(102.9
)
 
—

Other income (expense) – net
(16.1
)
 
4.6

 
8.1

 
—

 
(3.4
)
Income (loss) from continuing operations before income taxes
65.1

 
132.1

 
11.4

 
(102.9
)
 
105.7

(Provision for) benefit from income taxes
10.8

 
(37.4
)
 
(3.2
)
 
—

 
(29.8
)
Income (loss) from continuing operations
75.9

 
94.7

 
8.2

 
(102.9
)
 
75.9

Income (loss) from discontinued operations – net of tax
10.4

 
0.9

 
10.3

 
(11.2
)
 
10.4

Gain (loss) on disposition of discontinued operations – net of tax
—

 
—

 
(0.4
)
 
—

 
(0.4
)
Net income (loss)
86.3

 
95.6

 
18.1

 
(114.1
)
 
85.9

Net loss (income) from continuing operations attributable to noncontrolling interest
—

 
—

 
—

 
—

 
—

Net loss (income) from discontinued operations attributable to noncontrolling interest
—

 
—

 
(1.1
)
 
—

 
(1.1
)
Net income (loss) attributable to Terex Corporation
$
86.3

 
$
95.6

 
$
17.0

 
$
(114.1
)
 
$
84.8

 
 
 
 
 
 
 
 
 
 
Comprehensive income (loss), net of tax
$
165.7

 
$
96.0

 
$
32.6

 
$
(127.5
)
 
$
166.8

Comprehensive loss (income) attributable to noncontrolling interest
—

 
—

 
(1.1
)
 
—

 
(1.1
)
Comprehensive income (loss) attributable to Terex Corporation
$
165.7

 
$
96.0

 
$
31.5

 
$
(127.5
)
 
$
165.7



TEREX CORPORATION
CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)
SIX MONTHS ENDED JUNE 30, 2015
(in millions)
 
Terex
Corporation
 
Wholly-owned
Guarantors
 
Non-guarantor
Subsidiaries
 
Intercompany
Eliminations
 
Consolidated
Net sales
$
5.5

 
$
1,598.9

 
$
1,468.4

 
$
(474.1
)
 
$
2,598.7

Cost of goods sold
(4.2
)
 
(1,317.2
)
 
(1,247.9
)
 
474.1

 
(2,095.2
)
Gross profit
1.3

 
281.7

 
220.5

 
—

 
503.5

Selling, general and administrative expenses
(6.5
)
 
(134.8
)
 
(187.8
)
 
—

 
(329.1
)
Income (loss) from operations
(5.2
)
 
146.9

 
32.7

 
—

 
174.4

Interest income
52.7

 
34.2

 
0.9

 
(86.0
)
 
1.8

Interest expense
(80.4
)
 
(2.7
)
 
(59.7
)
 
86.0

 
(56.8
)
Income (loss) from subsidiaries
114.3

 
(2.4
)
 
0.5

 
(112.4
)
 
—

Other income (expense) – net
(25.9
)
 
(3.9
)
 
23.5

 
—

 
(6.3
)
Income (loss) from continuing operations before income taxes
55.5

 
172.1

 
(2.1
)
 
(112.4
)
 
113.1

(Provision for) benefit from income taxes
18.7

 
(46.2
)
 
(11.4
)
 
—

 
(38.9
)
Income (loss) from continuing operations
74.2

 
125.9

 
(13.5
)
 
(112.4
)
 
74.2

Income (loss) from discontinued operations – net of tax
10.6

 
1.3

 
10.4

 
(11.7
)
 
10.6

Gain (loss) on disposition of discontinued operations – net of tax
—

 
—

 
2.7

 
—

 
2.7

Net income (loss)
84.8

 
127.2

 
(0.4
)
 
(124.1
)
 
87.5

Net loss (income) from continuing operations attributable to noncontrolling interest
—

 
—

 
0.1

 
—

 
0.1

Net loss (income) from discontinued operations attributable to noncontrolling interest
—

 
—

 
(1.8
)
 
—

 
(1.8
)
Net income (loss) attributable to Terex Corporation
$
84.8

 
$
127.2

 
$
(2.1
)
 
$
(124.1
)
 
$
85.8

 
 
 
 
 
 
 
 
 
 
Comprehensive income (loss), net of tax
$
(33.1
)
 
$
127.3

 
$
(123.6
)
 
$
(2.0
)
 
$
(31.4
)
Comprehensive loss (income) attributable to noncontrolling interest
—

 
—

 
(1.7
)
 
—

 
(1.7
)
Comprehensive income (loss) attributable to Terex Corporation
$
(33.1
)
 
$
127.3

 
$
(125.3
)
 
$
(2.0
)
 
$
(33.1
)
Condensed Consolidating Balance Sheet
TEREX CORPORATION
CONDENSED CONSOLIDATING BALANCE SHEET
JUNE 30, 2016
(in millions)
 
Terex
Corporation
 
Wholly-owned
Guarantors
 
Non-guarantor
Subsidiaries
 
Intercompany
Eliminations
 
Consolidated
Assets
 
 
 
 
 
 
 
 
 
Current assets
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
27.1

 
$
0.2

 
$
173.5

 
$
—

 
$
200.8

Trade receivables – net
6.4

 
246.9

 
542.4

 
—

 
795.7

Intercompany receivables
57.5

 
64.1

 
72.1

 
(193.7
)
 
—

Inventories
0.2

 
401.4

 
633.7

 
—

 
1,035.3

Prepaid and other current assets
61.0

 
92.4

 
53.8

 
—

 
207.2

Current assets held for sale
—

 
23.1

 
804.6

 
—

 
827.7

Total current assets
152.2

 
828.1

 
2,280.1

 
(193.7
)
 
3,066.7

Property, plant and equipment – net
54.9

 
150.1

 
150.6

 
—

 
355.6

Goodwill
—

 
164.1

 
286.2

 
—

 
450.3

Non-current intercompany receivables
1,342.5

 
2,817.4

 
108.9

 
(4,268.8
)
 
—

Investment in and advances to (from) subsidiaries
4,247.3

 
97.6

 
104.8

 
(4,402.0
)
 
47.7

Other assets
50.0

 
253.0

 
225.9

 
—

 
528.9

Non-current assets held for sale
—

 
30.1

 
1,134.5

 
—

 
1,164.6

Total assets
$
5,846.9

 
$
4,340.4

 
$
4,291.0

 
$
(8,864.5
)
 
$
5,613.8

 
 
 
 
 
 
 
 
 
 
Liabilities and Stockholders’ Equity
 

 
 

 
 

 
 

 
 

Current liabilities
 

 
 

 
 

 
 

 
 

Notes payable and current portion of long-term debt
$
—

 
$
0.7

 
$
6.1

 
$
—

 
$
6.8

Trade accounts payable
16.1

 
231.4

 
304.8

 
—

 
552.3

Intercompany payables
3.9

 
56.3

 
133.5

 
(193.7
)
 
—

Accruals and other current liabilities
52.2

 
128.3

 
253.6

 
—

 
434.1

Current liabilities held for sale
—

 
13.8

 
517.8

 
—

 
531.6

Total current liabilities
72.2

 
430.5

 
1,215.8

 
(193.7
)
 
1,524.8

Long-term debt, less current portion
1,239.2

 
0.8

 
439.5

 
—

 
1,679.5

Non-current intercompany payables
2,624.2

 
—

 
1,644.6

 
(4,268.8
)
 
—

Retirement plans and other non-current liabilities
55.2

 
37.6

 
119.0

 
—

 
211.8

Non-current liabilities held for sale
—

 
—

 
308.2

 
—

 
308.2

Total stockholders’ equity
1,856.1

 
3,871.5

 
563.9

 
(4,402.0
)
 
1,889.5

Total liabilities and stockholders’ equity
$
5,846.9

 
$
4,340.4

 
$
4,291.0

 
$
(8,864.5
)
 
$
5,613.8


TEREX CORPORATION
CONDENSED CONSOLIDATING BALANCE SHEET
DECEMBER 31, 2015
(in millions)
 
Terex
Corporation
 
Wholly-owned
Guarantors
 
Non-guarantor
Subsidiaries
 
Intercompany
Eliminations
 
Consolidated
Assets
 
 
 
 
 
 
 
 
 
Current assets
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
91.7

 
$
0.2

 
$
279.3

 
$
—

 
$
371.2

Trade receivables – net
5.2

 
241.7

 
456.4

 
—

 
703.3

Intercompany receivables
57.5

 
55.3

 
64.7

 
(177.5
)
 
—

Inventories
—

 
424.2

 
639.4

 
—

 
1,063.6

Prepaid and other current assets
108.6

 
33.9

 
110.0

 
—

 
252.5

Current assets held for sale
—

 
17.1

 
732.5

 
—

 
749.6

Total current assets
263.0

 
772.4

 
2,282.3

 
(177.5
)
 
3,140.2

Property, plant and equipment – net
57.9

 
145.9

 
168.1

 
—

 
371.9

Goodwill
—

 
162.2

 
296.9

 
—

 
459.1

Non-current intercompany receivables
1,353.8

 
2,786.4

 
72.9

 
(4,213.1
)
 
—

Investment in and advances to (from) subsidiaries
4,010.2

 
94.4

 
95.2

 
(4,154.5
)
 
45.3

Other assets
29.2

 
104.3

 
305.5

 
—

 
439.0

Non-current assets held for sale
—

 
29.5

 
1,131.0

 
—

 
1,160.5

Total assets
$
5,714.1

 
$
4,095.1

 
$
4,351.9

 
$
(8,545.1
)
 
$
5,616.0

 
 
 
 
 
 
 
 
 
 
Liabilities and Stockholders’ Equity
 

 
 

 
 

 
 

 
 

Current liabilities
 

 
 

 
 

 
 

 
 

Notes payable and current portion of long-term debt
$
—

 
$
0.7

 
$
65.7

 
$
—

 
$
66.4

Trade accounts payable
21.4

 
222.8

 
316.5

 
—

 
560.7

Intercompany payables
3.1

 
56.6

 
117.8

 
(177.5
)
 
—

Accruals and other current liabilities
59.8

 
113.5

 
212.2

 
—

 
385.5

Current liabilities held for sale
—

 
17.6

 
428.4

 
—

 
446.0

Total current liabilities
84.3

 
411.2

 
1,140.6

 
(177.5
)
 
1,458.6

Long-term debt, less current portion
1,138.1

 
1.2

 
590.5

 
—

 
1,729.8

Non-current intercompany payables
2,562.3

 
—

 
1,650.8

 
(4,213.1
)
 
—

Retirement plans and other non-current liabilities
52.0

 
35.3

 
129.8

 
—

 
217.1

Non-current liabilities held for sale
—

 
—

 
298.5

 
—

 
298.5

Total stockholders’ equity
1,877.4

 
3,647.4

 
541.7

 
(4,154.5
)
 
1,912.0

Total liabilities and stockholders’ equity
$
5,714.1

 
$
4,095.1

 
$
4,351.9

 
$
(8,545.1
)
 
$
5,616.0
Condensed Consolidating Statement of Cash Flows
TEREX CORPORATION
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
SIX MONTHS ENDED JUNE 30, 2016
(in millions)
 
Terex
Corporation
 
Wholly-owned
Guarantors
 
Non-guarantor
Subsidiaries
 
Intercompany
Eliminations
 
Consolidated
Net cash provided by (used in) operating activities
$
(181.0
)
 
$
163.5

 
$
(3.9
)
 
$
5.8

 
$
(15.6
)
Cash flows from investing activities
 
 
 
 
 
 
 
 
 

Capital expenditures
(1.3
)
 
(20.6
)
 
(22.2
)
 
—

 
(44.1
)
Proceeds from disposition of discontinued operations
—

 
—

 
3.5

 
—

 
3.5

Acquisitions, net of cash acquired
—

 
—

 
(3.2
)
 
—

 
(3.2
)
Intercompany investing activities (1)
33.9

 
(97.5
)
 
(23.5
)
 
87.1

 
—

Other investing activities, net
—

 
1.9

 
27.1

 
(29.1
)
 
(0.1
)
Net cash provided by (used in) investing activities
32.6

 
(116.2
)
 
(18.3
)
 
58.0

 
(43.9
)
Cash flows from financing activities
 

 
 

 
 

 
 
 
 

Repayments of debt
(432.7
)
 
(0.5
)
 
(248.3
)
 
—

 
(681.5
)
Proceeds from issuance of debt
532.8

 
—

 
52.3

 
—

 
585.1

Share repurchases
(1.0
)
 
—

 
—

 
—

 
(1.0
)
Dividends paid
(15.2
)
 
—

 
—

 
—

 
(15.2
)
Intercompany financing activities (1)
—

 
(46.2
)
 
110.0

 
(63.8
)
 
—

Other financing activities, net
—

 
—

 
(0.8
)
 
—

 
(0.8
)
Net cash provided by (used in) financing activities
83.9

 
(46.7
)
 
(86.8
)
 
(63.8
)
 
(113.4
)
Effect of exchange rate changes on cash and cash equivalents
—

 
—

 
4.5

 
—

 
4.5

Net increase (decrease) in cash and cash equivalents
(64.5
)
 
0.6

 
(104.5
)
 
—

 
(168.4
)
Cash and cash equivalents at beginning of period
91.6

 
3.1

 
371.8

 
—

 
466.5

Cash and cash equivalents at end of period
$
27.1

 
$
3.7

 
$
267.3

 
$
—

 
$
298.1


(1)
Intercompany investing and financing activities include cash pooling activity between Terex Corporation and Wholly-Owned Guarantors.

TEREX CORPORATION
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
SIX MONTHS ENDED JUNE 30, 2015
(in millions)
 
Terex
Corporation
 
Wholly-owned
Guarantors
 
Non-guarantor
Subsidiaries
 
Intercompany
Eliminations
 
Consolidated
Net cash provided by (used in) operating activities
$
(393.2
)
 
$
315.3

 
$
133.4

 
$
(140.3
)
 
$
(84.8
)
Cash flows from investing activities
 
 
 
 
 
 
 
 
 

Capital expenditures
(0.4
)
 
(20.5
)
 
(27.8
)
 
—

 
(48.7
)
Acquisitions, net of cash acquired
—

 
(48.3
)
 
(11.5
)
 
—

 
(59.8
)
Proceeds from disposition of discontinued operations
(2.5
)
 
—

 
3.2

 
—

 
0.7

Intercompany investing activities (1)
380.8

 
—

 
(141.3
)
 
(239.5
)
 
—

Other investing activities, net
(1.0
)
 
—

 
7.5

 
(5.9
)
 
0.6

Net cash provided by (used in) investing activities
376.9

 
(68.8
)
 
(169.9
)
 
(245.4
)
 
(107.2
)
Cash flows from financing activities
 

 
 

 
 

 
 
 
 

Repayments of debt
(682.3
)
 
(5.9
)
 
(14.7
)
 
—

 
(702.9
)
Proceeds from issuance of debt
668.2

 
—

 
167.5

 
—

 
835.7

Share repurchases
(50.3
)
 
—

 
—

 
—

 
(50.3
)
Dividends paid
(12.8
)
 
—

 
—

 
—

 
(12.8
)
Intercompany financing activities (1)
—

 
(238.5
)
 
(147.2
)
 
385.7

 
—

Other financing activities, net
0.6

 
—

 
(1.7
)
 
—

 
(1.1
)
Net cash provided by (used in) financing activities
(76.6
)
 
(244.4
)
 
3.9

 
385.7

 
68.6

Effect of exchange rate changes on cash and cash equivalents
—

 
—

 
(22.1
)
 
—

 
(22.1
)
Net increase (decrease) in cash and cash equivalents
(92.9
)
 
2.1

 
(54.7
)
 
—

 
(145.5
)
Cash and cash equivalents at beginning of period
99.0

 
1.9

 
377.3

 
—

 
478.2

Cash and cash equivalents at end of period
$
6.1

 
$
4.0

 
$
322.6

 
$
—

 
$
332.7



(1)
Intercompany investing and financing activities include cash pooling activity between Terex Corporation and Wholly-Owned Guarantors.