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BUSINESS SEGMENT INFORMATION
 9 Months Ended
Sep. 30, 2022
Segment Reporting [Abstract]  
BUSINESS SEGMENT INFORMATION BUSINESS SEGMENT INFORMATION
Terex is a global manufacturer of materials processing machinery and aerial work platforms. The Company designs, builds and supports products used in construction, maintenance, manufacturing, energy, recycling, minerals and materials management applications. Certain Terex products and solutions enable customers to reduce their environmental impact including electric and hybrid offerings that deliver quiet and emission-free performance, products that support renewable energy, and products that aid in the recovery of useful materials from various types of waste. The Company’s products are manufactured in North America, Europe, Australia and Asia and sold worldwide. Terex 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: Materials Processing (“MP”), Aerials and Utilities. As Aerials and Utilities operating segments share similar economic characteristics, these operating segments are aggregated into one operating segment, Aerial Work Platforms (“AWP”). The Company operates in two reportable segments: (i) MP and (ii) AWP.

MP designs, manufactures, services and markets materials processing and specialty equipment, including crushers, washing systems, screens, trommels, 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.

AWP designs, manufactures, services and markets aerial work platform equipment, utility equipment and telehandlers 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.

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 facilitate financial products and services to assist customers in the acquisition of the Company’s equipment. TFS is included in Corporate and Other.

Corporate and Other also includes eliminations among the two reportable segments, as well as general and corporate items.
Business segment information is presented below (in millions):
 Three Months Ended
September 30,		Nine Months Ended
September 30,
 2022202120222021
Net sales  
MP$457.9 $418.7 $1,391.3 $1,237.7 
AWP662.6 572.5 1,811.8 1,644.4 
Corporate and Other / Eliminations— 2.6 (3.0)14.6 
Total$1,120.5 $993.8 $3,200.1 $2,896.7 
Income (loss) from operations  
MP$66.8 $57.1 $210.8 $178.3 
AWP63.5 34.9 142.2 126.7 
Corporate and Other / Eliminations(9.5)(17.8)(53.8)(46.8)
Total$120.8 $74.2 $299.2 $258.2 

 September 30,
2022		December 31,
2021
Identifiable assets  
MP$1,687.2 $1,648.0 
AWP (1)
2,023.8 1,870.8 
Corporate and Other / Eliminations(734.5)(655.3)
Total$2,976.5 $2,863.5 
(1)     Increase primarily due to higher inventory and fixed assets.

Sales between segments are generally priced to recover costs plus a reasonable markup for profit, which is eliminated in consolidation.
Geographic net sales information is presented below (in millions):
 
Three Months Ended
September 30, 2022
Three Months Ended
September 30, 2021
 MPAWPCorporate and Other / EliminationsTotalMPAWPCorporate and Other / EliminationsTotal
Net sales by region 
North America$189.9 $444.8 $7.4 $642.1 $159.8 $377.5 $8.3 $545.6 
Western Europe137.1 98.4 0.1 235.6 117.9 81.8 0.2 199.9 
Asia-Pacific95.0 65.9 0.5 161.4 95.5 80.5 0.5 176.5 
Rest of World (1)
35.9 53.5 (8.0)81.4 45.5 32.7 (6.4)71.8 
Total (2)
$457.9 $662.6 $— $1,120.5 $418.7 $572.5 $2.6 $993.8 

(1) Includes intercompany sales and eliminations.
(2)     Total sales include $568.6 million and $490.3 million for the three months ended September 30, 2022 and 2021, respectively, attributable to the U.S., the Company’s country of domicile.

 
Nine Months Ended
September 30, 2022
Nine Months Ended
September 30, 2021
 MPAWPCorporate and Other / EliminationsTotalMPAWPCorporate and Other / EliminationsTotal
Net sales by region 
North America$561.7 $1,226.8 $10.8 $1,799.3 $488.9 $1,066.7 $23.7 $1,579.3 
Western Europe431.8 293.0 0.3 725.1 379.8 265.8 0.4 646.0 
Asia-Pacific282.9 161.5 0.5 444.9 258.0 241.6 0.9 500.5 
Rest of World (1)
114.9 130.5 (14.6)230.8 111.0 70.3 (10.4)170.9 
Total (2)
$1,391.3 $1,811.8 $(3.0)$3,200.1 $1,237.7 $1,644.4 $14.6 $2,896.7 

(1) Includes intercompany sales and eliminations.
(2)     Total sales include $1.6 billion and $1.4 billion for the nine months ended September 30, 2022 and 2021, respectively, attributable to the U.S., the Company’s country of domicile.

The Company attributes sales to unaffiliated customers in different geographical areas based on the location of the customer.
Product type net sales information is presented below (in millions):
 
Three Months Ended
September 30, 2022
Three Months Ended
September 30, 2021
 MPAWPCorporate and Other / EliminationsTotalMPAWPCorporate and Other / EliminationsTotal
Net sales by product type
Aerial Work Platforms$— $505.5 $0.3 $505.8 $— $413.7 $0.2 $413.9 
Materials Processing Equipment277.3 — — 277.3 245.5 — — 245.5 
Specialty Equipment179.7 — 0.3 180.0 173.1 — 0.3 173.4 
Utility Equipment— 116.7 — 116.7 — 94.0 — 94.0 
Other (1)
0.9 40.4 (0.6)40.7 0.1 64.8 2.1 67.0 
Total$457.9 $662.6 $— $1,120.5 $418.7 $572.5 $2.6 $993.8 

(1)     Includes other product types, intercompany sales and eliminations.

 
Nine Months Ended
September 30, 2022
Nine Months Ended
September 30, 2021
 MPAWPCorporate and Other / EliminationsTotalMPAWPCorporate and Other / EliminationsTotal
Net sales by product type 
Aerial Work Platforms$— $1,344.5 $1.1 $1,345.6 $— $1,218.9 $0.8 $1,219.7 
Materials Processing Equipment826.6 — 0.5 827.1 735.4 — — 735.4 
Specialty Equipment562.4 — 1.0 563.4 501.7 — 1.8 503.5 
Utility Equipment— 343.3 — 343.3 — 281.7 0.6 282.3 
Other (1)
2.3 124.0 (5.6)120.7 0.6 143.8 11.4 155.8 
Total$1,391.3 $1,811.8 $(3.0)$3,200.1 $1,237.7 $1,644.4 $14.6 $2,896.7