Terex is a global manufacturer of aerial work platforms, materials processing machinery and cranes. The Company designs, builds and supports products used in construction, maintenance, manufacturing, energy, minerals and materials management applications. Terex’s products are manufactured in North and South America, Europe, Australia and Asia and sold worldwide. The Company engages with customers through all stages of the product life cycle, from initial specification and financing to parts and service support. The Company operates in two reportable segments: (i) AWP and (ii) MP.

The AWP segment designs, manufactures, services and markets aerial work platform equipment, telehandlers, light towers and utility equipment as well as their related components and replacement parts. Customers use these products to construct and maintain industrial, commercial and residential buildings and facilities, construction and maintenance of utility and telecommunication 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 MP segment designs, manufactures and markets materials processing and specialty equipment, including crushers, washing systems, screens, apron feeders, material handlers, pick and carry 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, and in building roads and bridges.

The Company designs, manufactures, services, refurbishes and markets rough terrain and tower cranes, as well as their related components and replacement parts. Customers use rough terrain cranes to move materials and equipment on rugged or uneven terrain and tower cranes, often in urban areas where space is constrained and in long-term or high-rise building sites, to lift construction material and place the material at point of use. Rough terrain and tower cranes are included in Corporate and Other.

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. TFS is included in Corporate and Other.



	Three Months Ended September 30,						Nine Months Ended September 30,
	2019			2018			2019			2018
Net sales
AWP	$	628.2		$	729.4		$	2,226.5		$	2,319.2
MP	338.6			313.6			1,050.0			964.7
Corporate and Other / Eliminations	57.8			55.8			191.6			184.5
Total	$	1,024.6		$	1,098.8		$	3,468.1		$	3,468.4
Income (loss) from operations
AWP	$	45.9		$	81.6		$	191.8		$	263.4
MP	52.4			41.4			157.9			125.6
Corporate and Other / Eliminations	(11.9		)	(18.8		)	(37.6		)	(58.1		)
Total	$	86.4		$	104.2		$	312.1		$	330.9

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



	September 30, 2019		December 31, 2018
Identifiable assets
AWP	$	1,922.7	$	1,983.5
MP	1,156.7		1,160.1
Corporate and Other / Eliminations (1)	62.3		(185.6		)
Assets held for sale (2)	19.0		527.9
Total	$	3,160.7	$	3,485.9



	Three Months Ended September 30, 2019									Three Months Ended September 30, 2018
	AWP		MP		Corporate and Other / Eliminations			Total		AWP		MP		Corporate and Other / Eliminations		Total
Net sales by region
North America	$	429.3	$	134.1	$	41.8		$	605.2	$	504.5	$	116.4	$	31.3	$	652.2
Western Europe	77.4		100.7		18.6			196.7		97.7		97.8		16.0		211.5
Asia-Pacific	78.5		69.5		3.5			151.5		79.9		65.7		7.1		152.7
Rest of World (1)	43.0		34.3		(6.1		)	71.2		47.3		33.7		1.4		82.4
Total (2)	$	628.2	$	338.6	$	57.8		$	1,024.6	$	729.4	$	313.6	$	55.8	$	1,098.8

(2) Total sales include $547.1 million and $606.0 million in 2019 and 2018, respectively, attributable to the United States, the Company’s country of domicile.



	Nine Months Ended September 30, 2019									Nine Months Ended September 30, 2018
	AWP		MP		Corporate and Other / Eliminations			Total		AWP		MP		Corporate and Other / Eliminations		Total
Net sales by region
North America	$	1,466.0	$	419.3	$	122.9		$	2,008.2	$	1,547.9	$	387.3	$	95.8	$	2,031.0
Western Europe	369.9		328.6		69.6			768.1		447.8		276.8		58.0		782.6
Asia-Pacific	253.5		208.3		11.1			472.9		205.2		193.2		18.7		417.1
Rest of World (1)	137.1		93.8		(12.0		)	218.9		118.3		107.4		12.0		237.7
Total (2)	$	2,226.5	$	1,050.0	$	191.6		$	3,468.1	$	2,319.2	$	964.7	$	184.5	$	3,468.4

(2) Total sales include $1,829.5 million and $1,876.0 million in 2019 and 2018, respectively, attributable to the United States, the Company’s country of domicile.



	Three Months Ended September 30, 2019								Three Months Ended September 30, 2018
	AWP		MP		Corporate and Other / Eliminations		Total		AWP		MP		Corporate and Other / Eliminations		Total
Net sales by product type
Aerial Work Platforms	$	426.0	$	—	$	0.5	$	426.5	$	518.8	$	—	$	0.7	$	519.5
Materials Processing Equipment	—		222.7		—		222.7		—		208.4		—		208.4
Specialty Equipment	—		115.4		—		115.4		—		100.8		—		100.8
Other (1)	202.2		0.5		57.3		260.0		210.6		4.4		55.1		270.1
Total	$	628.2	$	338.6	$	57.8	$	1,024.6	$	729.4	$	313.6	$	55.8	$	1,098.8



	Nine Months Ended September 30, 2019								Nine Months Ended September 30, 2018
	AWP		MP		Corporate and Other / Eliminations		Total		AWP		MP		Corporate and Other / Eliminations		Total
Net sales by product type
Aerial Work Platforms	$	1,581.6	$	—	$	2.2	$	1,583.8	$	1,713.8	$	—	$	2.3	$	1,716.1
Materials Processing Equipment	—		670.3		—		670.3		—		637.7		—		637.7
Specialty Equipment	—		377.4		—		377.4		—		307.0		—		307.0
Other (1)	644.9		2.3		189.4		836.6		605.4		20.0		182.2		807.6
Total	$	2,226.5	$	1,050.0	$	191.6	$	3,468.1	$	2,319.2	$	964.7	$	184.5	$	3,468.4