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BUSINESS SEGMENT INFORMATION
 9 Months Ended
Sep. 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, 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 September 30, 2026
ES
MP
SV
Aerials
Corporate and Other / Eliminations
Total
Net sales$400 $434 $657 $709 $(3)$2,197 
Less: (1)
Adjusted cost of goods sold
309 314 527 609 1,759 
Adjusted selling, general and administrative expenses
35 41 31 45 152 
Adjusted segment operating profit $56 $79 $99 $55 $289 
Corporate and Other / Eliminations(41)
Restructuring and other
15 
Purchase Price Accounting
(57)
Divestitures
(23)
Consolidated operating profit$183 
Interest expense - net(44)
Other expense - net(4)
Income before income taxes$135 
(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 the impact of certain one-time costs and other items that affect the comparability of segment performance between periods, which are reflected as reconciling items in the reconciliation to Consolidated operating profit.
Nine Months Ended September 30, 2026
ES
MP
SV
Aerials
Corporate and Other / Eliminations
Total
Net sales$1,267 $1,317 $1,744 $1,851 $(10)$6,169 
Less: (1)
Adjusted cost of goods sold
962971 1,409 1,630 4,972 
Adjusted selling, general and administrative expenses
104127 89 141 461 
Adjusted segment operating profit$201 $219 $246 $80 $746 
Corporate and Other / Eliminations(190)
Restructuring and other
8 
Purchase Price Accounting
(256)
Divestitures
(20)
Consolidated operating profit$288 
Interest expense - net(133)
Other expense - net(8)
Income before income taxes$147 
(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 the impact of certain one-time costs and other items that affect the comparability of segment performance between periods, which are reflected as reconciling items in the reconciliation to Consolidated operating profit.

Three Months Ended September 30, 2025
ES
MP
SV
Aerials
Corporate and Other / Eliminations
Total
Net sales$435 $417 $— $537 $(2)$1,387 
Less: (1)
Adjusted cost of goods sold
320 321 — 442 1,083 
Adjusted selling, general and administrative expenses
36 45 — 45 126 
Adjusted segment operating profit
$79 $51 $— $50 $180 
Corporate and Other / Eliminations(15)
Restructuring and other
(5)
Purchase Price Accounting
(20)
Consolidated operating profit
$140 
Interest expense - net(42)
Other expense - net(4)
Income before income taxes$94 
(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 the impact of certain one-time costs and other items that affect the comparability of segment performance between periods, which are reflected as reconciling items in the reconciliation to Consolidated operating profit.
Nine Months Ended September 30, 2025
ES
MP
SV
Aerials
Corporate and Other / Eliminations
Total
Net sales$1,264 $1,253 $— $1,594 $(8)$4,103 
Less: (1)
Adjusted cost of goods sold
921970— 1,341 3,232 
Adjusted selling, general and administrative expenses
105 136 — 141 382 
Adjusted segment operating profit
$238 $147 $— $112 $497 
Corporate and Other / Eliminations(67)
Restructuring and other
(20)
Purchase Price Accounting
(62)
Litigation related
(10)
Consolidated operating profit
$338 
Interest expense - net(125)
Other expense - net(4)
Income before income taxes$209 
(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 the impact of certain one-time costs and other items that affect the comparability of segment performance between periods, which are reflected as reconciling items in the reconciliation to Consolidated operating profit.

Three Months Ended September 30,
Nine Months Ended September 30,
2026202520262025
Depreciation and amortization
ES
$25 $24 $74 $73 
MP5 5 1515
SV
47— 125— 
Aerials
7 7 2019
Corporate4 2 126
Total$88 $38 $246 $113 
Capital expenditures
ES
$9 $9 $24 $23 
MP4 4 812
SV
15 — 36— 
Aerials
3 6 1536
Corporate— 5 713
Total$31 $24 $90 $84 
September 30,
2026		December 31,
2025
Identifiable assets
ES
$2,526 $2,523 
MP1,003 979 
SV
4,362 — 
Aerials
1,582 1,443 
Corporate
823 1,194 
Total$10,296 $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
September 30, 2026
ES
MP
SV
Aerials
Corporate and Other / EliminationsTotal
Net sales by region
North America$393 $197 $647 $570 $— $1,807 
Western Europe— 103 — 87 — 190 
Asia-Pacific196 3 25 — 125 
Rest of World (1)
638 7 27 (3)75 
Total (2)
$400 $434 $657 $709 $(3)$2,197 
(1) Includes intercompany sales and eliminations.
(2)     Total sales for all segments in the aggregate include $1,713 million for the three months ended September 30, 2026 attributable to the U.S., the Company’s country of domicile.
Nine Months Ended
September 30, 2026
ESMP
SV
Aerials
Corporate and Other / EliminationsTotal
Net sales by region
North America$1,246 $602 $1,724 $1,434 $— $5,006 
Western Europe— 311 — 275 — 586 
Asia-Pacific5 287 5 66 — 363 
Rest of World (1)
16 117 1576 (10)214 
Total (2)
$1,267 $1,317 $1,744 $1,851 $(10)$6,169 
(1) Includes intercompany sales and eliminations.
(2)     Total sales for all segments in the aggregate include $4,718 million for the nine months ended September 30, 2026 attributable to the U.S., the Company’s country of domicile.
Three Months Ended
September 30, 2025
ES
MP
SV
Aerials
Corporate and Other / EliminationsTotal
Net sales by region
North America$430 $179 $— $387 $— $996 
Western Europe— 105 — 92 — 197 
Asia-Pacific2 90 — 28 — 120 
Rest of World (1)
3 43 — 30 (2)74 
Total (2)
$435 $417 $— $537 $(2)$1,387 
(1) Includes intercompany sales and eliminations.
(2)     Total sales for all segments in the aggregate include $929 million for the three months ended September 30, 2025 attributable to the U.S., the Company’s country of domicile.
Nine Months Ended
September 30, 2025
ES
MP
SV
Aerials
Corporate and Other / EliminationsTotal
Net sales by region
North America$1,252 $551 $— $1,176 $2 $2,981 
Western Europe— 328 — 246 — 574 
Asia-Pacific4 246 — 82 — 332 
Rest of World (1)
8 128 — 90 (10)216 
Total (2)
$1,264 $1,253 $— $1,594 $(8)$4,103 
(1) Includes intercompany sales and eliminations.
(2)     Total sales for all segments in the aggregate include $2,737 million for the nine months ended September 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.