Terex is a global manufacturer of aerial work platforms and materials processing machinery. 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 identifies its operating segments according to how business activities are managed and evaluated, and has identified three operating segments: Aerials, Utilities and MP. As Aerials and Utilities operating segments share similar economic characteristics, these operating segments are aggregated into one operating segment, AWP. The Company operates in two reportable segments: (i) AWP and (ii) MP.

AWP designs, manufactures, services and markets aerial work platform equipment, utility equipment, telehandlers and light towers as well as their related components and replacement parts. Customers use these products to construct and maintain industrial, commercial, institutional and residential buildings and facilities, for 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.

MP designs, manufactures, services and markets materials processing and specialty equipment, including crushers, washing systems, screens, apron feeders, material handlers, pick and carry cranes, rough terrain cranes, tower 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, moving materials and equipment on rugged or uneven terrain, lifting construction material and placing material at point of use.

The Company’s rough terrain and tower cranes operations were consolidated within MP for financial reporting periods beginning on or after January 1, 2020, to align with its new management and reporting structure. Prior period reportable segment information was adjusted to reflect the realignment of operations.

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 June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Net sales
AWP	$	413.9	$	870.4	$	925.6	$	1,598.3

MP	263.6		430.9		579.2		841.4
Corporate and Other / Eliminations	13.0		5.6		19.3		3.8
Total	$	690.5	$	1,306.9	$	1,524.1	$	2,443.5
Income (loss) from operations
AWP	$	(5.0)	$	86.3	$	(10.9)	$	145.9

MP	23.4		65.3		48.4		124.8
Corporate and Other / Eliminations	(11.0)		(25.6)		(37.2)		(45.0)
Total	$	7.4	$	126.0	$	0.3	$	225.7


	June 30, 2020		December 31, 2019
Identifiable assets
AWP	$	1,754.6	$	1,814.4
MP	1,543.3		1,750.9
Corporate and Other / Eliminations	(439.5)		(379.5)
Assets held for sale	5.9		9.8
Total	$	2,864.3	$	3,195.6


	Three Months Ended June 30, 2020														Three Months Ended June 30, 2019
	AWP		MP		Corporate and Other / Eliminations		Total		AWP		MP		Corporate and Other / Eliminations		Total
Net sales by region
North America	$	276.8	$	123.8	$	19.3	$	419.9	$	599.3	$	187.6	$	21.3	$	808.2
Western Europe	41.8		70.2		0.1		112.1		128.0		134.2		0.1		262.3
Asia-Pacific	75.4		46.6		1.1		123.1		95.6		71.6		0.6		167.8
Rest of World ⁽¹⁾	19.9		23.0		(7.5)		35.4		47.5		37.5		(16.4)		68.6
Total ⁽²⁾	$	413.9	$	263.6	$	13.0	$	690.5	$	870.4	$	430.9	$	5.6	$	1,306.9

⁽²⁾Total sales include $384.4 million and $735.2 million for the three months ended June 30, 2020 and 2019, respectively, attributable to the United States, the Company’s country of domicile.


	Six Months Ended June 30, 2020														Six Months Ended June 30, 2019
	AWP		MP		Corporate and Other / Eliminations		Total		AWP		MP		Corporate and Other / Eliminations		Total
Net sales by region
North America	$	619.3	$	238.2	$	33.7	$	891.2	$	1,036.7	$	331.1	$	35.2	$	1,403.0
Western Europe	130.6		175.9		0.2		306.7		292.5		278.7		0.2		571.4
Asia-Pacific	126.5		105.6		1.3		233.4		175.0		145.3		1.1		321.4
Rest of World ⁽¹⁾	49.2		59.5		(15.9)		92.8		94.1		86.3		(32.7)		147.7
Total ⁽²⁾	$	925.6	$	579.2	$	19.3	$	1,524.1	$	1,598.3	$	841.4	$	3.8	$	2,443.5

⁽²⁾Total sales include $815.5 million and $1,282.4 million for the six months ended June 30, 2020 and 2019, respectively, attributable to the United States, the Company’s country of domicile.


	Three Months Ended June 30, 2020														Three Months Ended June 30, 2019
	AWP		MP		Corporate and Other / Eliminations		Total		AWP		MP		Corporate and Other / Eliminations		Total
Net sales by product type
Aerial Work Platforms	$	279.4	$	—	$	(0.2)	$	279.2	$	636.0	$	—	$	0.7	$	636.7

Materials Processing Equipment	—		150.8		—		150.8		—		231.6		—		231.6
Specialty Equipment	—		111.9		0.4		112.3		—		197.0		0.7		197.7
Other (1)	134.5		0.9		12.8		148.2		234.4		2.3		4.2		240.9


Total	$	413.9	$	263.6	$	13.0	$	690.5	$	870.4	$	430.9	$	5.6	$	1,306.9


	Six Months Ended June 30, 2020														Six Months Ended June 30, 2019
	AWP		MP		Corporate and Other / Eliminations		Total		AWP		MP		Corporate and Other / Eliminations		Total
Net sales by product type
Aerial Work Platforms	$	626.1	$	—	$	0.2	$	626.3	$	1,155.6	$	—	$	1.6	$	1,157.2

Materials Processing Equipment	—		338.9		—		338.9		—		447.6		—		447.6
Specialty Equipment	—		238.2		0.7		238.9		—		389.3		1.8		391.1
Other ⁽¹⁾	299.5		2.1		18.4		320.0		442.7		4.5		0.4		447.6
Total	$	925.6	$	579.2	$	19.3	$	1,524.1	$	1,598.3	$	841.4	$	3.8	$	2,443.5