BUSINESS SEGMENT INFORMATION (Tables)

6 Months Ended

Jun. 30, 2025

Schedule of Business Segment Information

Business segment information is presented below (in millions):


	Three Months Ended June 30, 2025
	Aerials		MP		ES		Total
Net sales	$	607	$	454	$	430	$	1,491
Reconciliation of net sales
Corporate and Other / Eliminations							(4)
Consolidated net sales							1,487

Less: (1)
Cost of goods sold	512		354		331		$	1,197
Compensation expense	25		26		20		71
Other segment items (2)	24		25		18		67
Segment operating profit	$	46	$	49	$	61	$	156

Reconciliation of operating profit
Corporate and Other / Eliminations							(27)
Consolidated operating profit							$	129

(1) Significant expense categories and amounts align with the segment-level information that is regularly provided to the chief operating decision maker. Intersegment expenses are included within the amounts shown.

(2) Other segment items includes corporate management charges, professional services, travel & entertainment, depreciation & amortization, property & utilities, selling & marketing, research & development, communication & software, staff amenities, and finance expenses. Individually, each of these categories represents an insignificant amount.


	Six Months Ended June 30, 2025
	Aerials		MP		ES		Total
Net sales	$	1,057	$	836	$	829	$	2,722
Reconciliation of net sales
Corporate and Other / Eliminations							(6)
Consolidated net sales							2,716

Less: (1)
Cost of goods sold	901		655		642		2,198
Compensation expense	48		52		40		140
Other segment items (2)	59		44		30		133
Segment operating profit	$	49	$	85	$	117	$	251

Reconciliation of operating profit
Corporate and Other / Eliminations							(53)
Consolidated operating profit							$	198


	Three Months Ended June 30, 2024
	Aerials		MP		ES		Total
Net sales	$	732	$	499	$	152	$	1,383
Reconciliation of net sales
Corporate and Other / Eliminations							(1)
Consolidated net sales							1,382

Less: (1)
Cost of goods sold	564		372		121		1,057
Compensation expense	25		28		6		59
Other segment items (2)	28		22		6		56
Segment operating profit	$	115	$	77	$	19	$	211

Reconciliation of operating profit
Corporate and Other / Eliminations							(18)
Consolidated operating profit							$	193


	Six Months Ended June 30, 2024
	Aerials		MP		ES		Total
Net sales	$	1,355	$	1,019	$	303	$	2,677
Reconciliation of net sales
Corporate and Other / Eliminations							(3)
Consolidated net sales							2,674

Less: (1)
Cost of goods sold	1,042		769		244		2,055
Compensation expense	50		56		12		118
Other segment items (2)	56		45		13		114
Segment operating profit	$	207	$	149	$	34	$	390

Reconciliation of operating profit
Corporate and Other / Eliminations							(39)
Consolidated operating profit							$	351


	Three Months Ended June 30,				Six Months Ended June 30,
	2025		2024		2025		2024




























Depreciation and amortization



Aerials	$	6	$	6	$	13	$	13
MP	5		5		10		9
ES	24		2		48		4
Corporate	4		2		7		4
Total	$	39	$	15	$	78	$	30
Capital expenditures



Aerials	$	7	$	11	$	30	$	29
MP	4		7		8		20
ES	8		1		15		3
Corporate	5		5		7		7
Total	$	24	$	24	$	60	$	59

Reconciliation of Operating Profit (Loss) from Segments to Consolidated


	June 30, 2025		December 31, 2024
Identifiable assets


Aerials	$	1,933	$	1,660
MP	2,027		1,885
ES	2,839		2,806
Corporate and Other / Eliminations	(647)		(621)

Total	$	6,152	$	5,730

Revenue from External Customers by Geographic Areas

Geographic net sales information is presented below (in millions):


	Three Months Ended June 30, 2025
	Aerials		MP		ES		Corporate and Other / Eliminations		Total
Net sales by region
North America	$	458	$	201	$	426	$	2	$	1,087
Western Europe	87		128		—		—		215
Asia-Pacific	29		80		1		—		110
Rest of World (1)	33		45		3		(6)		75
Total (2)	$	607	$	454	$	430	$	(4)	$	1,487

(1) Includes intercompany sales and eliminations.

(2) Total sales for all segments in the aggregate include $992 million for the three months ended June 30, 2025 attributable to the U.S., the Company’s country of domicile.


	Six Months Ended June 30, 2025
	Aerials		MP		ES		Corporate and Other / Eliminations		Total
Net sales by region
North America	$	789	$	372	$	822	$	2	$	1,985
Western Europe	154		223		—		—		377
Asia-Pacific	54		156		2		—		212
Rest of World (1)	60		85		5		(8)		142
Total (2)	$	1,057	$	836	$	829	$	(6)	$	2,716

(1) Includes intercompany sales and eliminations.

(2) Total sales for all segments in the aggregate include $1,809 million for the six months ended June 30, 2025 attributable to the U.S., the Company’s country of domicile.


	Three Months Ended June 30, 2024
	Aerials		MP		ES		Corporate and Other / Eliminations		Total
Net sales by region
North America	$	501	$	242	$	149	$	1	$	893
Western Europe	132		116		—		—		248
Asia-Pacific	50		88		2		1		141
Rest of World (1)	49		53		1		(3)		100
Total (2)	$	732	$	499	$	152	$	(1)	$	1,382

(1) Includes intercompany sales and eliminations.

(2) Total sales for all segments in the aggregate include $810 million for the three months ended June 30, 2024 attributable to the U.S., the Company’s country of domicile.


	Six Months Ended June 30, 2024
	Aerials		MP		ES		Corporate and Other / Eliminations		Total
Net sales by region
North America	$	909	$	478	$	297	$	3	$	1,687
Western Europe	257		252		—		—		509
Asia-Pacific	91		192		4		1		288
Rest of World (1)	98		97		2		(7)		190
Total (2)	$	1,355	$	1,019	$	303	$	(3)	$	2,674

(1) Includes intercompany sales and eliminations.

(2) Total sales for all segments in the aggregate include $1,542 million for the six months ended June 30, 2024 attributable to the U.S., the Company’s country of domicile.

Revenue from External Customers by Products and Services

Product type net sales information is presented below (in millions):


	Three Months Ended June 30, 2025
	Aerials		MP		ES		Corporate and Other / Eliminations		Total
Net sales by product type
Aerial Work Platforms	$	499	$	—	$	—	$	1	$	500
Materials Processing Equipment	—		281		—		—		281
Specialty Equipment	—		173		—		—		173
Utility Equipment	—		—		157		—		157
ESG Equipment	—		—		247		—		247
Other (1)	108		—		26		(5)		129


Total	$	607	$	454	$	430	$	(4)	$	1,487

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


	Six Months Ended June 30, 2025
	Aerials		MP		ES		Corporate and Other / Eliminations		Total
Net sales by product type
Aerial Work Platforms	$	886	$	—	$	—	$	1	$	887
Materials Processing Equipment	—		518		—		—		518
Specialty Equipment	—		317		—		—		317
Utility Equipment	—		—		289		—		289
ESG Equipment	—		—		490		—		490
Other (1)	171		1		50		(7)		215


Total	$	1,057	$	836	$	829	$	(6)	$	2,716

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


	Three Months Ended June 30, 2024
	Aerials		MP		ES		Corporate and Other / Eliminations		Total
Net sales by product type
Aerial Work Platforms	$	625	$	—	$	—	$	—	$	625

Materials Processing Equipment	—		331		—		—		331
Specialty Equipment	—		168		—		—		168
Utility Equipment	—		—		151		—		151

Other (1)	107		—		1		(1)		107


Total	$	732	$	499	$	152	$	(1)	$	1,382

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


	Six Months Ended June 30, 2024
	Aerials		MP		ES		Corporate and Other / Eliminations		Total
Net sales by product type
Aerial Work Platforms	$	1,167	$	—	$	—	$	1	1,168
Materials Processing Equipment	—		688		—		—		688
Specialty Equipment	—		330		—		—		330
Utility Equipment	—		—		301		—		301

Other (1)	188		1		2		(4)		187


Total	$	1,355	$	1,019	$	303	$	(3)	$	2,674

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