Revenue Recognition - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Revenues | $ 3,769.3 | $ 4,308.2 | $ 4,118.3 |
| Revenue, Performance Obligation, Description of Timing | Revenue is recognized when obligations under the terms of a contract with the customer are satisfied, which occurs when control of the trucks, parts, or services are transferred to the customer. Revenue is measured as the amount of consideration expected to be received in exchange for transferring goods or providing services. The satisfaction of performance obligations under the terms of a revenue contract generally gives rise for the right to payment from the customer. The Company's standard payment terms vary by the type and location of the customer and the products or services offered. Generally, the time between when revenue is recognized and when payment is due is not significant. Given the insignificant days between revenue recognition and receipt of payment, financing components do not exist between the Company and its customers. Taxes collected from customers are excluded from revenue. The estimated costs of product warranties are recognized as expense when the products are sold. See Note 15, Product Warranties, for further information on product warranties. | ||
| Revenue, Information Used to Assess Variable Consideration Constraint | The Company also records variable consideration in the form of estimated reductions to revenues for customer programs and incentive offerings, including special pricing agreements, promotions and other volume-based incentives. Lift truck sales revenue is recorded net of estimated discounts. The estimated discount amount is based upon historical experience and trend analysis for each lift truck model. In addition to standard discounts, dealers can also request additional discounts that allow them to offer price concessions to customers. From time to time, the Company offers special incentives to increase market share or dealer stock and offers certain customers volume rebates if a specified cumulative level of purchases is obtained. | ||
| Revenue, Performance Obligation Satisfied at Point in Time, Transfer of Control | The majority of the Company's sales contracts contain performance obligations satisfied at a point in time when title and risks and rewards of ownership have transferred to the customer. Revenues for service contracts are recognized as the services are provided. | ||
| Revenue, Performance Obligation, Description of Returns and Other Similar Obligations | When customers are given the right to return eligible parts and accessories, the Company estimates the expected returns based on an analysis of historical experience. The Company adjusts estimated revenues at the earlier of when the most likely amount of consideration expected to be received changes or when the consideration becomes fixed. | ||
| Deferred Revenue | $ 65.6 | 71.3 | 92.5 |
| Deferred Revenue, Additions | 63.6 | 60.4 | |
| Deferred Revenue, Revenue Recognized | (69.8) | (81.3) | |
| Deferred Revenue, Period Increase (Decrease) | $ 0.5 | (0.3) | |
| Deferred Revenue, Description 606 | The Company defers revenue for transactions that have not met the criteria for recognition at the time payment is collected, including extended warranties and maintenance contracts. In addition, for certain products, services and customer types, the Company collects payment prior to the transfer of control to the customer. | ||
| Other revenue [Member] | |||
| Revenue, Performance Obligation Satisfied over Time, Method Used, Description | The Company recognizes revenue for extended warranty and maintenance agreements based on the standalone selling price over the life of the contract, which reflects the costs to perform under these contracts and corresponds with, and thereby depicts, the transfer of control to the customer. | ||
| Revenue from Contract with Customer, Excluding Assessed Tax | $ 384.1 | 355.4 | 311.3 |
| Aftermarket sales [Member] | |||
| Revenue, Performance Obligation Satisfied over Time, Method Used, Description | sales represent parts sales, extended warranty and maintenance services. For the sale of parts, the Company transfers control and recognizes revenue when parts are shipped to the customer. | ||
| Revenue from Contract with Customer, Excluding Assessed Tax | $ 883.3 | 857.3 | 838.6 |
| Consolidation, Eliminations [Member] | |||
| Revenues | (133.1) | (185.6) | (179.2) |
| Consolidation, Eliminations [Member] | Other revenue [Member] | |||
| Revenue from Contract with Customer, Excluding Assessed Tax | (133.1) | (185.6) | (179.2) |
| Consolidation, Eliminations [Member] | Aftermarket sales [Member] | |||
| Revenue from Contract with Customer, Excluding Assessed Tax | 0.0 | 0.0 | 0.0 |
| Americas [Member] | |||
| Revenues | 2,815.9 | 3,223.4 | 2,900.6 |
| Americas [Member] | Other revenue [Member] | |||
| Revenue from Contract with Customer, Excluding Assessed Tax | 160.7 | 135.6 | 93.7 |
| Americas [Member] | Aftermarket sales [Member] | |||
| Revenue from Contract with Customer, Excluding Assessed Tax | 758.3 | 727.4 | 700.0 |
| EMEA [Member] | |||
| Revenues | 569.9 | 707.6 | 820.5 |
| EMEA [Member] | Other revenue [Member] | |||
| Revenue from Contract with Customer, Excluding Assessed Tax | 22.0 | 25.7 | 21.2 |
| EMEA [Member] | Aftermarket sales [Member] | |||
| Revenue from Contract with Customer, Excluding Assessed Tax | 98.5 | 104.1 | 110.7 |
| JAPIC [Member] | |||
| Revenues | 183.5 | 183.7 | 201.1 |
| JAPIC [Member] | Other revenue [Member] | |||
| Revenue from Contract with Customer, Excluding Assessed Tax | 1.4 | 0.6 | 0.3 |
| JAPIC [Member] | Aftermarket sales [Member] | |||
| Revenue from Contract with Customer, Excluding Assessed Tax | 26.5 | 25.8 | 27.9 |
| Bolzoni [Member] | |||
| Revenues | $ 333.1 | 379.1 | 375.3 |
| Revenue, Performance Obligation Satisfied at Point in Time, Transfer of Control | Bolzoni revenue from external customers is primarily the sale of attachments to customers. In these transactions, the Company transfers control and recognizes revenue according to the shipping terms of the contract. In the U.S., Bolzoni also has revenue for sales of forklift components to HYMH plants | ||
| Bolzoni [Member] | Other revenue [Member] | |||
| Revenue from Contract with Customer, Excluding Assessed Tax | $ 333.1 | 379.1 | 375.3 |
| Bolzoni [Member] | Aftermarket sales [Member] | |||
| Revenue from Contract with Customer, Excluding Assessed Tax | $ 0.0 | 0.0 | 0.0 |
| Nuvera [Member] | |||
| Revenue, Performance Obligation Satisfied at Point in Time, Transfer of Control | . | ||
| Sales Channel, Through Intermediary [Member] | |||
| Revenue, Performance Obligation Satisfied at Point in Time, Transfer of Control | Dealer sales are recognized when the Company transfers control based on the shipping terms of the contract, which is generally when the truck is shipped from the manufacturing facility to the dealers. The majority of direct customer sales are to major customers. In these transactions, the Company transfers control and recognizes revenue when it delivers the product to the customer according to the terms of the contract. | ||
| Revenue from Contract with Customer, Excluding Assessed Tax | $ 1,801.3 | 2,420.3 | 2,417.7 |
| Sales Channel, Through Intermediary [Member] | Consolidation, Eliminations [Member] | |||
| Revenue from Contract with Customer, Excluding Assessed Tax | 0.0 | 0.0 | 0.0 |
| Sales Channel, Through Intermediary [Member] | Americas [Member] | |||
| Revenue from Contract with Customer, Excluding Assessed Tax | 1,201.7 | 1,690.8 | 1,565.6 |
| Sales Channel, Through Intermediary [Member] | EMEA [Member] | |||
| Revenue from Contract with Customer, Excluding Assessed Tax | 444.0 | 572.2 | 679.2 |
| Sales Channel, Through Intermediary [Member] | JAPIC [Member] | |||
| Revenue from Contract with Customer, Excluding Assessed Tax | 155.6 | 157.3 | 172.9 |
| Sales Channel, Through Intermediary [Member] | Bolzoni [Member] | |||
| Revenue from Contract with Customer, Excluding Assessed Tax | 0.0 | 0.0 | 0.0 |
| Sales Channel, Directly to Consumer [Member] | |||
| Revenue from Contract with Customer, Excluding Assessed Tax | 700.6 | 675.2 | 550.7 |
| Sales Channel, Directly to Consumer [Member] | Consolidation, Eliminations [Member] | |||
| Revenue from Contract with Customer, Excluding Assessed Tax | 0.0 | 0.0 | 0.0 |
| Sales Channel, Directly to Consumer [Member] | Americas [Member] | |||
| Revenue from Contract with Customer, Excluding Assessed Tax | 695.2 | 669.6 | 541.3 |
| Sales Channel, Directly to Consumer [Member] | EMEA [Member] | |||
| Revenue from Contract with Customer, Excluding Assessed Tax | 5.4 | 5.6 | 9.4 |
| Sales Channel, Directly to Consumer [Member] | JAPIC [Member] | |||
| Revenue from Contract with Customer, Excluding Assessed Tax | 0.0 | 0.0 | 0.0 |
| Sales Channel, Directly to Consumer [Member] | Bolzoni [Member] | |||
| Revenue from Contract with Customer, Excluding Assessed Tax | $ 0.0 | $ 0.0 | $ 0.0 |