CONSOLIDATING FINANCIAL STATEMENTS (Tables)
 3 Months Ended
Mar. 31, 2015
Condensed Financial Information of Parent Company Only Disclosure [Abstract]  
Condensed Consolidating Statement of Comprehensive Income
TEREX CORPORATION
CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)
THREE MONTHS ENDED MARCH 31, 2015
(in millions)
 
Terex
Corporation
 
Wholly-owned
Guarantors
 
Non-guarantor
Subsidiaries
 
Intercompany
Eliminations
 
Consolidated
Net sales
$
0.8

 
$
732.7

 
$
979.7

 
$
(217.6
)
 
$
1,495.6

Cost of goods sold
(0.2
)
 
(625.0
)
 
(811.4
)
 
217.6

 
(1,219.0
)
Gross profit
0.6

 
107.7

 
168.3

 
—

 
276.6

Selling, general and administrative expenses
12.1

 
(71.4
)
 
(173.1
)
 
—

 
(232.4
)
Income (loss) from operations
12.7

 
36.3

 
(4.8
)
 
—

 
44.2

Interest income
27.1

 
17.0

 
1.0

 
(44.1
)
 
1.0

Interest expense
(40.0
)
 
(1.0
)
 
(31.3
)
 
44.1

 
(28.2
)
Income (loss) from subsidiaries
11.5

 
(1.1
)
 
(0.4
)
 
(10.0
)
 
—

Other income (expense) – net
(16.1
)
 
(8.6
)
 
17.8

 
—

 
(6.9
)
Income (loss) from continuing operations before income taxes
(4.8
)
 
42.6

 
(17.7
)
 
(10.0
)
 
10.1

(Provision for) benefit from income taxes
5.8

 
(8.7
)
 
(8.7
)
 
—

 
(11.6
)
Income (loss) from continuing operations
1.0

 
33.9

 
(26.4
)
 
(10.0
)
 
(1.5
)
Gain (loss) on disposition of discontinued operations – net of tax
—

 
—

 
3.1

 
—

 
3.1

Net income (loss)
1.0

 
33.9

 
(23.3
)
 
(10.0
)
 
1.6

Net loss (income) attributable to noncontrolling interest
—

 
—

 
(0.6
)
 
—

 
(0.6
)
Net income (loss) attributable to Terex Corporation
$
1.0

 
$
33.9

 
$
(23.9
)
 
$
(10.0
)
 
$
1.0

 
 
 
 
 
 
 
 
 
 
Comprehensive income (loss), net of tax
$
(198.8
)
 
$
33.7

 
$
(161.0
)
 
$
127.9

 
$
(198.2
)
Comprehensive loss (income) attributable to noncontrolling interest
—

 
—

 
(0.6
)
 
—

 
(0.6
)
Comprehensive income (loss) attributable to Terex Corporation
$
(198.8
)
 
$
33.7

 
$
(161.6
)
 
$
127.9

 
$
(198.8
)
 
TEREX CORPORATION
CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)
THREE MONTHS ENDED MARCH 31, 2014
(in millions)
 
Terex
Corporation
 
Wholly-owned
Guarantors
 
Non-guarantor
Subsidiaries
 
Intercompany
Eliminations
 
Consolidated
Net sales
$
38.8

 
$
783.8

 
$
1,120.5

 
$
(288.5
)
 
$
1,654.6

Cost of goods sold
(36.1
)
 
(638.4
)
 
(935.2
)
 
288.5

 
(1,321.2
)
Gross profit
2.7

 
145.4

 
185.3

 
—

 
333.4

Selling, general and administrative expenses
—

 
(69.8
)
 
(188.6
)
 
—

 
(258.4
)
Income (loss) from operations
2.7

 
75.6

 
(3.3
)
 
—

 
75.0

Interest income
31.5

 
17.9

 
0.9

 
(49.0
)
 
1.3

Interest expense
(40.5
)
 
(4.2
)
 
(34.7
)
 
49.0

 
(30.4
)
Income (loss) from subsidiaries
47.2

 
3.7

 
(1.4
)
 
(49.5
)
 
—

Other income (expense) – net
(11.2
)
 
0.2

 
8.1

 
—

 
(2.9
)
Income (loss) from continuing operations before income taxes
29.7

 
93.2

 
(30.4
)
 
(49.5
)
 
43.0

(Provision for) benefit from income taxes
5.4

 
(27.9
)
 
11.0

 
—

 
(11.5
)
Income (loss) from continuing operations
35.1

 
65.3

 
(19.4
)
 
(49.5
)
 
31.5

Income (loss) from discontinued operations – net of tax
(0.1
)
 
—

 
1.0

 
—

 
0.9

Gain (loss) on disposition of discontinued operations – net of tax
—

 
—

 
1.5

 
—

 
1.5

Net income (loss)
35.0

 
65.3

 
(16.9
)
 
(49.5
)
 
33.9

Net loss (income) attributable to noncontrolling interest
—

 
—

 
1.1

 
—

 
1.1

Net income (loss) attributable to Terex Corporation
$
35.0

 
$
65.3

 
$
(15.8
)
 
$
(49.5
)
 
$
35.0

 
 
 
 
 
 
 
 
 
 
Comprehensive income (loss), net of tax
$
51.5

 
$
65.8

 
$
(4.4
)
 
$
(62.7
)
 
$
50.2

Comprehensive loss (income) attributable to noncontrolling interest
—

 
—

 
1.3

 
—

 
1.3

Comprehensive income (loss) attributable to Terex Corporation
$
51.5

 
$
65.8

 
$
(3.1
)
 
$
(62.7
)
 
$
51.5

 
Condensed Consolidating Balance Sheet
TEREX CORPORATION
CONDENSED CONSOLIDATING BALANCE SHEET
MARCH 31, 2015
(in millions)
 
Terex
Corporation
 
Wholly-owned
Guarantors
 
Non-guarantor
Subsidiaries
 
Intercompany
Eliminations
 
Consolidated
Assets
 
 
 
 
 
 
 
 
 
Current assets
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
13.9

 
$
2.3

 
$
335.1

 
$
—

 
$
351.3

Trade receivables – net
8.3

 
415.7

 
707.4

 
—

 
1,131.4

Intercompany receivables
74.3

 
81.5

 
110.5

 
(266.3
)
 
—

Inventories
1.3

 
465.0

 
1,054.4

 
—

 
1,520.7

Prepaid assets
99.9

 
58.2

 
112.4

 
—

 
270.5

Other current assets
58.9

 
0.2

 
26.5

 
—

 
85.6

Total current assets
256.6

 
1,022.9

 
2,346.3

 
(266.3
)
 
3,359.5

Property, plant and equipment – net
64.8

 
122.3

 
460.8

 
—

 
647.9

Goodwill
—

 
170.1

 
861.4

 
—

 
1,031.5

Non-current intercompany receivables
1,396.8

 
2,172.7

 
40.5

 
(3,610.0
)
 
—

Investment in and advances to (from) subsidiaries
3,716.7

 
194.6

 
171.7

 
(3,980.6
)
 
102.4

Other assets
41.3

 
147.6

 
403.9

 
—

 
592.8

Total assets
$
5,476.2

 
$
3,830.2

 
$
4,284.6

 
$
(7,856.9
)
 
$
5,734.1

 
 
 
 
 
 
 
 
 
 
Liabilities and Stockholders’ Equity
 

 
 

 
 

 
 

 
 

Current liabilities
 

 
 

 
 

 
 

 
 

Notes payable and current portion of long-term debt
$
127.3

 
$
1.3

 
$
31.6

 
$
—

 
$
160.2

Trade accounts payable
14.1

 
269.6

 
454.4

 
—

 
738.1

Intercompany payables
18.5

 
93.3

 
154.5

 
(266.3
)
 
—

Accruals and other current liabilities
97.1

 
129.2

 
569.0

 
—

 
795.3

Total current liabilities
257.0

 
493.4

 
1,209.5

 
(266.3
)
 
1,693.6

Long-term debt, less current portion
1,261.0

 
2.8

 
448.9

 
—

 
1,712.7

Non-current intercompany payables
2,152.7

 
41.8

 
1,415.5

 
(3,610.0
)
 
—

Retirement plans and other non-current liabilities
57.7

 
28.3

 
460.5

 
—

 
546.5

Total stockholders’ equity
1,747.8

 
3,263.9

 
750.2

 
(3,980.6
)
 
1,781.3

Total liabilities and stockholders’ equity
$
5,476.2

 
$
3,830.2

 
$
4,284.6

 
$
(7,856.9
)
 
$
5,734.1


TEREX CORPORATION
CONDENSED CONSOLIDATING BALANCE SHEET
DECEMBER 31, 2014
(in millions)
 
Terex
Corporation
 
Wholly-owned
Guarantors
 
Non-guarantor
Subsidiaries
 
Intercompany
Eliminations
 
Consolidated
Assets
 
 
 
 
 
 
 
 
 
Current assets
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
99.0

 
$
1.9

 
$
377.3

 
$
—

 
$
478.2

Trade receivables – net
7.7

 
307.4

 
771.3

 
—

 
1,086.4

Intercompany receivables
55.3

 
85.9

 
136.3

 
(277.5
)
 
—

Inventories
—

 
374.5

 
1,086.4

 
—

 
1,460.9

Prepaid assets
100.8

 
32.9

 
114.3

 
—

 
248.0

Other current assets
65.7

 
0.1

 
16.9

 
—

 
82.7

Total current assets
328.5

 
802.7

 
2,502.5

 
(277.5
)
 
3,356.2

Property, plant and equipment – net
65.4

 
117.0

 
507.9

 
—

 
690.3

Goodwill
—

 
170.1

 
960.9

 
—

 
1,131.0

Non-current intercompany receivables
1,501.4

 
2,059.9

 
41.9

 
(3,603.2
)
 
—

Investment in and advances to (from) subsidiaries
3,564.2

 
199.3

 
152.0

 
(3,809.2
)
 
106.3

Other assets
43.8

 
142.7

 
457.7

 
—

 
644.2

Total assets
$
5,503.3

 
$
3,491.7

 
$
4,622.9

 
$
(7,689.9
)
 
$
5,928.0

 
 
 
 
 
 
 
 
 
 
Liabilities and Stockholders’ Equity
 

 
 

 
 

 
 

 
 

Current liabilities
 

 
 

 
 

 
 

 
 

Notes payable and current portion of long-term debt
$
125.0

 
$
2.0

 
$
25.5

 
$
—

 
$
152.5

Trade accounts payable
18.0

 
212.6

 
505.5

 
—

 
736.1

Intercompany payables
19.8

 
117.8

 
139.9

 
(277.5
)
 
—

Accruals and other current liabilities
74.6

 
118.1

 
561.8

 
—

 
754.5

Total current liabilities
237.4

 
450.5

 
1,232.7

 
(277.5
)
 
1,643.1

Long-term debt, less current portion
1,150.0

 
7.6

 
478.7

 
—

 
1,636.3

Non-current intercompany payables
2,047.1

 
41.8

 
1,514.3

 
(3,603.2
)
 
—

Retirement plans and other non-current liabilities
62.9

 
27.2

 
519.4

 
—

 
609.5

Total stockholders’ equity
2,005.9

 
2,964.6

 
877.8

 
(3,809.2
)
 
2,039.1

Total liabilities and stockholders’ equity
$
5,503.3

 
$
3,491.7

 
$
4,622.9

 
$
(7,689.9
)
 
$
5,928.0
Condensed Consolidating Statement of Cash Flows
TEREX CORPORATION
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
THREE MONTHS ENDED MARCH 31, 2015
(in millions)
 
Terex
Corporation
 
Wholly-owned
Guarantors
 
Non-guarantor
Subsidiaries
 
Intercompany
Eliminations
 
Consolidated
Net cash provided by (used in) operating activities
$
(307.5
)
 
$
143.6

 
$
53.2

 
$
—

 
$
(110.7
)
Cash flows from investing activities
 
 
 
 
 
 
 
 
 

Capital expenditures
(0.2
)
 
(12.7
)
 
(13.3
)
 
—

 
(26.2
)
Acquisition of businesses, net of cash acquired
—

 
(21.1
)
 
(1.0
)
 
—

 
(22.1
)
Intercompany investing activities (1)
161.1

 
—

 
—

 
(161.1
)
 
—

Other investing activities, net
(3.5
)
 
—

 
1.5

 
—

 
(2.0
)
Net cash provided by (used in) investing activities
157.4

 
(33.8
)
 
(12.8
)
 
(161.1
)
 
(50.3
)
Cash flows from financing activities
 

 
 

 
 

 
 
 
 

Repayments of debt
(114.8
)
 
(5.5
)
 
(6.0
)
 
—

 
(126.3
)
Proceeds from issuance of debt
225.8

 
—

 
11.6

 
—

 
237.4

Share repurchases
(40.2
)
 
—

 
—

 
—

 
(40.2
)
Dividends paid
(6.4
)
 
—

 
—

 
—

 
(6.4
)
Intercompany financing activities (1)
—

 
(103.9
)
 
(57.2
)
 
161.1

 
—

Other financing activities, net
0.6

 
—

 
(0.6
)
 
—

 
—

Net cash provided by (used in) financing activities
65.0

 
(109.4
)
 
(52.2
)
 
161.1

 
64.5

Effect of exchange rate changes on cash and cash equivalents
—

 
—

 
(30.4
)
 
—

 
(30.4
)
Net increase (decrease) in cash and cash equivalents
(85.1
)
 
0.4

 
(42.2
)
 
—

 
(126.9
)
Cash and cash equivalents at beginning of period
99.0

 
1.9

 
377.3

 
—

 
478.2

Cash and cash equivalents at end of period
$
13.9

 
$
2.3

 
$
335.1

 
$
—

 
$
351.3


(1)
Intercompany investing and financing activities include cash pooling activity between Terex Corporation and Wholly-Owned Guarantors.

TEREX CORPORATION
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
THREE MONTHS ENDED MARCH 31, 2014
(in millions)
 
Terex
Corporation
 
Wholly-owned
Guarantors
 
Non-guarantor
Subsidiaries
 
Intercompany
Eliminations
 
Consolidated
Net cash provided by (used in) operating activities
$
(78.9
)
 
$
(6.6
)
 
$
110.7

 
$
—

 
$
25.2

Cash flows from investing activities
 
 
 
 
 
 
 
 
 

Capital expenditures
(2.2
)
 
(5.7
)
 
(11.1
)
 
—

 
(19.0
)
Acquisition of businesses, net of cash acquired
—

 
—

 
(7.4
)
 
—

 
(7.4
)
Intercompany investing activities (1)
3.2

 
—

 
—

 
(3.2
)
 
—

Other investing activities, net
—

 
0.1

 
0.4

 
—

 
0.5

Net cash provided by (used in) investing activities
1.0

 
(5.6
)
 
(18.1
)
 
(3.2
)
 
(25.9
)
Cash flows from financing activities
 

 
 

 
 

 
 
 
 

Repayments of debt
(161.7
)
 
(0.3
)
 
(34.6
)
 
—

 
(196.6
)
Proceeds from issuance of debt
255.0

 
—

 
17.6

 
—

 
272.6

Purchase of noncontrolling interest
—

 
—

 
(71.3
)
 
—

 
(71.3
)
Share repurchases
(24.0
)
 
—

 
—

 
—

 
(24.0
)
Dividends paid
(5.5
)
 
—

 
—

 
—

 
(5.5
)
Intercompany financing activities (1)
—

 
11.8

 
(15.0
)
 
3.2

 
—

Other financing activities, net
5.9

 
—

 
1.5

 
—

 
7.4

Net cash provided by (used in) financing activities
69.7

 
11.5

 
(101.8
)
 
3.2

 
(17.4
)
Effect of exchange rate changes on cash and cash equivalents
—

 
—

 
0.5

 
—

 
0.5

Net increase (decrease) in cash and cash equivalents
(8.2
)
 
(0.7
)
 
(8.7
)
 
—

 
(17.6
)
Cash and cash equivalents at beginning of period
16.3

 
3.9

 
387.9

 
—

 
408.1

Cash and cash equivalents at end of period
$
8.1

 
$
3.2

 
$
379.2

 
$
—

 
$
390.5



(1)
Intercompany investing and financing activities include cash pooling activity between Terex Corporation and Wholly-Owned Guarantors.