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BUSINESS SEGMENT INFORMATION
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
BUSINESS SEGMENT INFORMATION BUSINESS SEGMENT INFORMATION
Terex is a global industrial equipment manufacturer of materials processing machinery, waste and recycling solutions, mobile elevating work platforms (MEWPs), and equipment for the electric utility industry. The Company designs, builds, and supports products used in maintenance, manufacturing, energy, waste and recycling, minerals and materials management, construction, and the entertainment industry. Terex provides lifecycle support to its customers through its global parts and services organization, and offers complementary digital solutions, designed to help customers maximize their return on their investment. Certain Terex products and solutions enable customers to reduce their impact on the environment 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, and Asia Pacific and sold worldwide. Terex engages with customers through all stages of the product life cycle, from initial specification to parts and service support.

The Company identifies its operating segments according to how business activities are managed and evaluated. Effective January 1, 2025, the Company reports its business in the following reportable segments: (i) Aerials, (ii) Materials Processing (“MP”) and (iii) Environmental Solutions (“ES”). The Company’s Environmental Solutions Group (“ESG”) and Utilities operating segments share similar economic characteristics and are aggregated into one reportable segment, ES.

Aerials designs, manufactures, services and markets aerial work platform 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 purposes within the entertainment industry, 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, 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.
ES designs, manufactures, services and markets waste, recycling and utility equipment and solutions, including refuse collection bodies, hydraulic cart lifters, automated carry cans, compaction, balers, recycling equipment, digger derricks, insulated aerial devices, self-propelled articulating insulated booms, and cameras with integrated smart technology, as well as related components and replacement parts, and waste hauler software solutions. Customers use these products in the solid waste and recycling industry, and for construction and maintenance of transmission and distribution lines, tree trimming, and foundation drilling applications.

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 three reportable segments, as well as general and corporate items.

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 2071
Other segment items (2)
24 25 1867
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 
(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.
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 
(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, 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 
(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.
 
Three Months Ended June 30,
Six Months Ended June 30,
 2025202420252024
Depreciation and amortization
Aerials
$6 $6 $13 $13 
MP5 5 109
ES
24 2 484
Corporate4 2 74
Total$39 $15 $78 $30 
Capital expenditures
Aerials
$7 $11 $30 $29 
MP4 7 820
ES
8 1 153
Corporate5 5 77
Total$24 $24 $60 $59 

June 30,
2025		December 31,
2024
Identifiable assets  
Aerials
$1,933 $1,660 
MP2,027 1,885 
ES
2,839 2,806 
Corporate and Other / Eliminations(647)(621)
Total$6,152 $5,730 

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
June 30, 2025
 
Aerials
MP
ESCorporate and Other / EliminationsTotal
Net sales by region 
North America$458 $201 $426 $2 $1,087 
Western Europe87 128 — — 215 
Asia-Pacific29 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
ESCorporate and Other / EliminationsTotal
Net sales by region 
North America$789 $372 $822 $2 $1,985 
Western Europe154 223 — — 377 
Asia-Pacific54 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
ESCorporate and Other / EliminationsTotal
Net sales by region
North America$501 $242 $149 $1 $893 
Western Europe132 116 — — 248 
Asia-Pacific50 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
ESCorporate and Other / EliminationsTotal
Net sales by region
North America$909 $478 $297 $3 $1,687 
Western Europe257 252 — — 509 
Asia-Pacific91 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.

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
June 30, 2025
 
Aerials
MP
ESCorporate and Other / EliminationsTotal
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
ESCorporate and Other / EliminationsTotal
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
ESCorporate and Other / EliminationsTotal
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
ESCorporate and Other / EliminationsTotal
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