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BUSINESS SEGMENT INFORMATION
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
BUSINESS SEGMENT INFORMATION BUSINESS SEGMENT INFORMATION
The Company identifies its operating segments according to how business activities are managed and evaluated. Effective February 2, 2026 in connection with the REV Transaction, the Company reports its business in the following reportable segments: (i) Environmental Solutions (“ES”), (ii) Materials Processing (“MP”), (iii) Specialty Vehicles (“SV”) and (iv) Aerials. The Company’s Environmental Solutions Group (“ESG”) and Utilities operating segments share similar economic characteristics and are aggregated into one reportable segment, ES.

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 and recycling equipment, digger derricks, insulated aerial devices, 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.

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, 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, and applications to lift equipment or material.

SV designs, manufactures, services and markets commercial and custom fire and ambulance vehicles primarily for fire departments, airports, other governmental units, contractors, hospitals and other care providers in the United States and other countries, trucks used in terminal type operations, i.e., rail yards, warehouses, rail terminals and shipping terminals/ports; and industrial sweepers for both the commercial and rental markets. SV also manufactures, markets and distributes Class A recreational vehicles (“RVs”) (motorhomes built on a heavy-duty chassis with either diesel or gas engine configurations), as well as Class C RVs (motorhomes built on a van or commercial truck chassis).

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.

The Company assists customers in their rental, leasing and acquisition of its products through Terex Financial Services (“TFS”). TFS uses its equipment financing expertise to facilitate financial products and services to assist customers in the procurement of the Terex equipment. TFS is included in Corporate and Other.

Corporate and Other also includes eliminations among the four reportable segments, as well as general and corporate items.
The Company’s chief operating decision maker (“CODM”) uses both Adjusted operating profit and Adjusted EBITDA to evaluate segment performance and allocate resources. In accordance with ASC 280, the Company assessed the measure of segment profit or loss required to be reported and determined that Adjusted operating profit is the measure that is most consistent with U.S. GAAP. Accordingly, Adjusted operating profit is presented as the Company’s required measure of segment profit or loss in the accompanying segment information. This change in presentation has been applied retrospectively, and prior‑period segment information has been recast to conform to the current‑year presentation. This change did not affect the Company’s condensed consolidated financial statements.

Business segment information is presented below (in millions):
 
Three Months Ended June 30, 2026
 
ES
MP
SV
Aerials
Corporate and Other / Eliminations
Total
Net sales$456 $464 $650 $673 $(5)$2,238 
​
Less: (1)
Adjusted cost of goods sold
346 339 525 593 1,803 
Adjusted selling, general and administrative expenses
35 43 37 48 163 
Adjusted segment operating profit $75 $82 $88 $32 $277 
​
Corporate and Other / Eliminations(48)
Restructuring and other
(7)
Purchase Price Accounting
(35)
Consolidated operating profit$187 
Interest expense - net(45)
Other expense - net(3)
Income before income taxes$139 
(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. Adjusted cost of goods sold and Adjusted selling, general and administrative expenses exclude certain items that are reflected as reconciling items in the reconciliation to Consolidated operating profit.
 
Six Months Ended June 30, 2026
 
ES
MP
SV
Aerials
Corporate and Other / Eliminations
Total
Net sales$867 $883 $1,086 $1,142 $(6)$3,972 
Less: (1)
Adjusted cost of goods sold
653658 881 1,021 3,213 
Adjusted selling, general and administrative expenses
6985 59 96 309 
Adjusted segment operating profit$145 $140 $146 $25 $456 
Corporate and Other / Eliminations(147)
Restructuring and other
(8)
Purchase Price Accounting
(199)
Divestitures
3 
Consolidated operating profit$105 
Interest expense - net(88)
Other expense - net(4)
Income before income taxes$13 
(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. Adjusted cost of goods sold and Adjusted selling, general and administrative expenses exclude certain items that are reflected as reconciling items in the reconciliation to Consolidated operating profit.

Three Months Ended June 30, 2025
ES
MP
SV
Aerials
Corporate and Other / Eliminations
Total
Net sales$430 $454 $— $607 $(4)$1,487 
Less: (1)
Adjusted cost of goods sold
312 349 — 509 1,170 
Adjusted selling, general and administrative expenses
36 47 — 49 132 
Adjusted segment operating profit
$82 $58 $— $49 $189 
Corporate and Other / Eliminations(27)
Restructuring and other
(12)
Purchase Price Accounting
(21)
Consolidated operating profit
$129 
Interest expense - net(42)
Other income - net2 
Income before income taxes$89 
(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. Adjusted cost of goods sold and Adjusted selling, general and administrative expenses exclude certain items that are reflected as reconciling items in the reconciliation to Consolidated operating profit.

Six Months Ended June 30, 2025
ES
MP
SV
Aerials
Corporate and Other / Eliminations
Total
Net sales$829 $836 $— $1,057 $(6)$2,716 
Less: (1)
Adjusted cost of goods sold
602648— 8992,149 
Adjusted selling, general and administrative expenses
68 92 — 96 256 
Adjusted segment operating profit
$159 $96 $— $62 $317 
Corporate and Other / Eliminations(53)
Restructuring and other
(14)
Purchase Price Accounting
(42)
Litigation related
(10)
Consolidated operating profit
$198 
Interest expense - net(83)
Income before income taxes$115 
(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. Adjusted cost of goods sold and Adjusted selling, general and administrative expenses exclude certain items that are reflected as reconciling items in the reconciliation to Consolidated operating profit.

 
Three Months Ended June 30,
Six Months Ended June 30,
 2026202520262025
Depreciation and amortization
ES
$25 $24 $49 $48 
MP5 5 1010
SV
42— 78— 
Aerials
6 6 1413
Corporate7 4 127
Total$85 $39 $163 $78 
Capital expenditures
ES
$6 $8 $14 $15 
MP2 4 48
SV
16 — 22— 
Aerials
5 7 1230
Corporate5 5 77
Total$34 $24 $59 $60 

June 30,
2026		December 31,
2025
Identifiable assets  
ES
$2,550 $2,523 
MP1,001 979 
SV
4,380 — 
Aerials
1,572 1,443 
Corporate
841 1,194 
Total$10,344 $6,139 

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, 2026
 ES
MP
SV
Aerials
Corporate and Other / EliminationsTotal
Net sales by region 
North America$448 $227 $643 $529 $— $1,847 
Western Europe— 104 — 98 — 202 
Asia-Pacific298 2 20 — 122 
Rest of World (1)
635 5 26 (5)67 
Total (2)
$456 $464 $650 $673 $(5)$2,238 
(1) Includes intercompany sales and eliminations.
(2)     Total sales for all segments in the aggregate include $1,732 million for the three months ended June 30, 2026 attributable to the U.S., the Company’s country of domicile.
 
Six Months Ended
June 30, 2026
 ESMP
SV
Aerials
Corporate and Other / EliminationsTotal
Net sales by region 
North America$853 $405 $1,077 $864 $— $3,199 
Western Europe— 208 — 188 — 396 
Asia-Pacific4 191 2 41 — 238 
Rest of World (1)
10 79 749 (6)139 
Total (2)
$867 $883 $1,086 $1,142 $(6)$3,972 
(1) Includes intercompany sales and eliminations.
(2)     Total sales for all segments in the aggregate include $3,005 million for the six months ended June 30, 2026 attributable to the U.S., the Company’s country of domicile.

Three Months Ended
June 30, 2025
ES
MP
SV
Aerials
Corporate and Other / EliminationsTotal
Net sales by region
North America$426 $201 $— $458 $2 $1,087 
Western Europe— 128 — 87 — 215 
Asia-Pacific1 80 — 29 — 110 
Rest of World (1)
3 45 — 33 (6)75 
Total (2)
$430 $454 $— $607 $(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
ES
MP
SV
Aerials
Corporate and Other / EliminationsTotal
Net sales by region
North America$822 $372 $— $789 $2 $1,985 
Western Europe— 223 — 154 — 377 
Asia-Pacific2 156 — 54 — 212 
Rest of World (1)
5 85 — 60 (8)142 
Total (2)
$829 $836 $— $1,057 $(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.

The Company attributes sales to unaffiliated customers in different geographical areas based on the location of the customer.