10-Q 1 osk-20240930.htm 10-Q 10-Q
Q30000775158--12-31falsehttp://fasb.org/us-gaap/2024#OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTaxhttp://fasb.org/us-gaap/2024#OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTaxhttp://fasb.org/us-gaap/2024#OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTaxhttp://fasb.org/us-gaap/2024#OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTaxhttp://fasb.org/us-gaap/2024#OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTaxhttp://fasb.org/us-gaap/2024#OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTaxhttp://fasb.org/us-gaap/2024#OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTaxhttp://fasb.org/us-gaap/2024#OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTaxhttp://fasb.org/us-gaap/2024#OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTaxhttp://fasb.org/us-gaap/2024#OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTaxhttp://fasb.org/us-gaap/2024#OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTaxhttp://fasb.org/us-gaap/2024#OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTaxhttp://fasb.org/us-gaap/2024#OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTaxhttp://fasb.org/us-gaap/2024#OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTaxhttp://fasb.org/us-gaap/2024#OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTaxhttp://fasb.org/us-gaap/2024#OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTaxhttp://fasb.org/us-gaap/2024#OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTaxhttp://fasb.org/us-gaap/2024#OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTaxhttp://fasb.org/us-gaap/2024#OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTaxhttp://fasb.org/us-gaap/2024#OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTaxhttp://fasb.org/us-gaap/2024#OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTaxhttp://fasb.org/us-gaap/2024#OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTaxhttp://fasb.org/us-gaap/2024#OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTaxhttp://fasb.org/us-gaap/2024#OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTaxhttp://fasb.org/us-gaap/2024#OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTaxhttp://fasb.org/us-gaap/2024#OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTaxhttp://fasb.org/us-gaap/2024#OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTaxhttp://fasb.org/us-gaap/2024#OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax0000775158us-gaap:IntersegmentEliminationMemberosk:AccessMemberosk:OtherAccessEquipmentMember2024-07-012024-09-300000775158us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-07-012024-09-300000775158us-gaap:CorporateAndOtherMember2024-01-012024-09-300000775158us-gaap:CustomerRelationshipsMember2024-09-300000775158us-gaap:TransferredAtPointInTimeMemberus-gaap:OperatingSegmentsMemberus-gaap:CorporateAndOtherMember2024-01-012024-09-3000007751582024-01-012024-09-300000775158us-gaap:TransferredOverTimeMember2023-07-012023-09-300000775158us-gaap:OperatingSegmentsMemberus-gaap:CorporateAndOtherMembersrt:NorthAmericaMember2024-01-012024-09-300000775158us-gaap:OperatingSegmentsMemberosk:AccessMembersrt:NorthAmericaMember2023-01-012023-09-300000775158us-gaap:OperatingSegmentsMemberus-gaap:CorporateAndOtherMembersrt:NorthAmericaMember2023-01-012023-09-300000775158osk:RestOfWorldMember2023-01-012023-09-300000775158us-gaap:OperatingSegmentsMemberosk:AccessMemberus-gaap:EMEAMember2024-07-012024-09-300000775158us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-07-012023-09-300000775158us-gaap:OperatingSegmentsMemberosk:DefenseMember2023-07-012023-09-300000775158us-gaap:FairValueInputsLevel1Member2023-12-310000775158osk:AusacorpSLMember2024-09-300000775158osk:SnowRemovalBusinessMemberosk:DefenseMember2023-07-012023-09-300000775158osk:IndirectGuaranteeOfDeferredPaymentAndLeasePaymentAgreementsMemberosk:ContingentPortionMember2023-06-300000775158osk:ContractFulfilmentOrCustomerOwnedToolingCostsMember2023-07-012023-09-300000775158us-gaap:CorporateAndOtherMemberosk:PrattMillerMember2023-12-310000775158srt:NorthAmericaMember2024-01-012024-09-300000775158us-gaap:OperatingSegmentsMemberus-gaap:EMEAMemberosk:VocationalSegmentMember2024-01-012024-09-300000775158osk:IndirectGuaranteeOfDeferredPaymentAndLeasePaymentAgreementsMemberosk:NonContingentPortionMember2023-12-310000775158us-gaap:TransferredAtPointInTimeMember2023-07-012023-09-300000775158us-gaap:OperatingSegmentsMemberus-gaap:TransferredOverTimeMemberosk:VocationalSegmentMember2023-07-012023-09-300000775158us-gaap:TransferredOverTimeMember2024-01-012024-09-300000775158us-gaap:TransferredOverTimeMemberus-gaap:OperatingSegmentsMemberosk:DefenseMember2023-07-012023-09-300000775158us-gaap:ConstructionInProgressMember2024-09-300000775158osk:FireApparatusMemberosk:VocationalSegmentMember2024-01-012024-09-300000775158us-gaap:CostOfSalesMember2024-01-012024-09-300000775158us-gaap:LetterOfCreditMember2024-01-012024-09-300000775158us-gaap:OperatingSegmentsMemberosk:AccessMember2024-01-012024-09-300000775158us-gaap:OperatingSegmentsMemberosk:FireApparatusMemberosk:VocationalSegmentMember2024-01-012024-09-300000775158us-gaap:CorporateAndOtherMember2023-01-012023-09-300000775158osk:TelehandlersMemberus-gaap:OperatingSegmentsMemberosk:AccessMember2023-01-012023-09-300000775158us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-01-012023-09-300000775158us-gaap:IntersegmentEliminationMemberosk:OtherVocationalMemberosk:VocationalSegmentMember2023-01-012023-09-300000775158us-gaap:DevelopedTechnologyRightsMember2024-09-300000775158us-gaap:OperatingSegmentsMemberus-gaap:CorporateAndOtherMemberosk:RestOfWorldMember2023-01-012023-09-300000775158us-gaap:IntersegmentEliminationMemberosk:DefenseMemberosk:DefenseProductMember2024-01-012024-09-3000007751582023-09-300000775158us-gaap:TransferredAtPointInTimeMemberus-gaap:OperatingSegmentsMemberosk:VocationalSegmentMember2023-07-012023-09-300000775158us-gaap:AdditionalPaidInCapitalMember2024-07-012024-09-300000775158us-gaap:IntersegmentEliminationMemberosk:DefenseMemberosk:DeliveryVehiclesMember2023-07-012023-09-300000775158osk:TelehandlersMemberus-gaap:OperatingSegmentsMemberosk:AccessMember2024-07-012024-09-300000775158us-gaap:CommonStockMember2024-07-012024-09-300000775158osk:FactorySetupCostsMember2024-09-300000775158osk:IndirectGuaranteeOfDeferredPaymentAndLeasePaymentAgreementsMemberosk:NonContingentPortionMember2022-12-310000775158us-gaap:AdditionalPaidInCapitalMember2024-06-300000775158us-gaap:CommonStockMember2024-01-012024-09-300000775158osk:EngineeringCostsMember2023-12-310000775158osk:SnowRemovalApparatusBusinessMemberosk:DefenseMember2023-07-012023-09-300000775158us-gaap:AdditionalPaidInCapitalMember2022-12-310000775158us-gaap:TransferredAtPointInTimeMemberus-gaap:OperatingSegmentsMemberosk:AccessMember2023-07-012023-09-300000775158osk:A460SeniorNotesDueMay2028Member2024-09-300000775158osk:TelehandlersMemberus-gaap:OperatingSegmentsMemberosk:AccessMember2023-07-012023-09-300000775158osk:AusacorpSLMember2024-09-032024-09-030000775158us-gaap:TransferredAtPointInTimeMemberus-gaap:OperatingSegmentsMemberosk:AccessMember2024-01-012024-09-300000775158us-gaap:IntersegmentEliminationMemberus-gaap:CorporateAndOtherMember2023-07-012023-09-300000775158us-gaap:RetainedEarningsMember2022-12-310000775158us-gaap:OperatingSegmentsMemberosk:AccessMemberosk:RestOfWorldMember2023-01-012023-09-300000775158us-gaap:TransferredOverTimeMemberus-gaap:OperatingSegmentsMemberosk:VocationalSegmentMember2024-01-012024-09-300000775158us-gaap:TradeNamesMember2023-12-310000775158us-gaap:IntersegmentEliminationMember2024-07-012024-09-300000775158us-gaap:FairValueInputsLevel2Member2024-09-3000007751582023-01-012023-09-300000775158us-gaap:TransferredAtPointInTimeMemberus-gaap:OperatingSegmentsMemberosk:AccessMember2023-01-012023-09-300000775158osk:AccessMemberosk:AerialWorksPlatformsMember2024-07-012024-09-300000775158osk:SERPPlanMember2023-12-310000775158osk:A310SeniorNotesDueMarch2030Member2024-01-012024-09-300000775158osk:CreditAgreementMemberosk:DebtInstrumentVariableRateBaseTermSOFRMember2024-01-012024-09-300000775158us-gaap:TransferredOverTimeMemberus-gaap:OperatingSegmentsMemberosk:AccessMember2024-01-012024-09-300000775158osk:RearDischargeConcreteMixersMember2023-03-310000775158us-gaap:TransferredAtPointInTimeMemberus-gaap:OperatingSegmentsMemberosk:AccessMember2024-07-012024-09-300000775158us-gaap:OperatingSegmentsMemberosk:AccessMemberosk:OtherAccessEquipmentMember2024-01-012024-09-300000775158us-gaap:IntersegmentEliminationMemberosk:AccessMember2023-01-012023-09-300000775158srt:NorthAmericaMember2024-07-012024-09-300000775158osk:RefuseCollectionMemberus-gaap:OperatingSegmentsMemberosk:VocationalSegmentMember2023-07-012023-09-300000775158osk:VocationalSegmentMember2023-07-012023-09-300000775158us-gaap:IntersegmentEliminationMemberosk:VocationalSegmentMember2024-07-012024-09-300000775158us-gaap:IntersegmentEliminationMemberosk:OtherVocationalMemberosk:VocationalSegmentMember2024-01-012024-09-300000775158us-gaap:TransferredAtPointInTimeMemberus-gaap:OperatingSegmentsMemberus-gaap:CorporateAndOtherMember2023-01-012023-09-300000775158us-gaap:FairValueInputsLevel3Memberosk:SERPPlanMember2023-12-310000775158us-gaap:RevolvingCreditFacilityMember2024-04-030000775158osk:FireApparatusMemberosk:VocationalSegmentMember2023-01-012023-09-300000775158us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-06-300000775158us-gaap:TransferredAtPointInTimeMemberus-gaap:OperatingSegmentsMemberus-gaap:CorporateAndOtherMember2024-07-012024-09-300000775158us-gaap:IntersegmentEliminationMemberosk:DefenseMemberosk:DefenseProductMember2024-07-012024-09-300000775158us-gaap:OperatingSegmentsMembersrt:NorthAmericaMemberosk:VocationalSegmentMember2024-01-012024-09-300000775158us-gaap:TransferredOverTimeMemberus-gaap:OperatingSegmentsMemberus-gaap:CorporateAndOtherMember2024-07-012024-09-300000775158us-gaap:TransferredAtPointInTimeMemberus-gaap:OperatingSegmentsMemberosk:VocationalSegmentMember2024-01-012024-09-300000775158osk:RefuseCollectionMemberus-gaap:IntersegmentEliminationMemberosk:VocationalSegmentMember2024-01-012024-09-300000775158osk:PensionBenefitsMember2023-01-012023-09-300000775158osk:DefenseMemberosk:DefenseProductMember2024-01-012024-09-300000775158srt:NorthAmericaMember2023-01-012023-09-300000775158us-gaap:OperatingSegmentsMemberosk:DefenseMember2023-01-012023-09-300000775158osk:IndirectGuaranteeOfDeferredPaymentAndLeasePaymentAgreementsMemberosk:ContingentPortionMember2023-07-012023-09-300000775158osk:ResidualValueGuaranteeMember2024-09-300000775158us-gaap:IntersegmentEliminationMemberosk:AccessMemberosk:OtherAccessEquipmentMember2023-07-012023-09-300000775158us-gaap:OperatingSegmentsMemberus-gaap:TransferredOverTimeMemberosk:AccessMember2023-01-012023-09-300000775158osk:OtherVocationalMemberosk:VocationalSegmentMember2024-01-012024-09-300000775158us-gaap:RevolvingCreditFacilityMember2024-09-300000775158us-gaap:IntersegmentEliminationMemberosk:DefenseMemberosk:DefenseProductMember2023-01-012023-09-300000775158osk:AccessMember2023-07-012023-09-300000775158us-gaap:OperatingSegmentsMemberosk:DefenseMemberosk:DefenseProductMember2024-07-012024-09-300000775158us-gaap:IntersegmentEliminationMemberosk:AccessMemberosk:AerialWorksPlatformsMember2023-01-012023-09-300000775158us-gaap:IntersegmentEliminationMemberosk:AccessMemberosk:AerialWorksPlatformsMember2024-01-012024-09-300000775158osk:OtherVocationalMemberosk:VocationalSegmentMember2023-01-012023-09-300000775158us-gaap:OperatingSegmentsMemberus-gaap:CorporateAndOtherMemberosk:RestOfWorldMember2024-01-012024-09-300000775158us-gaap:TreasuryStockCommonMember2024-06-300000775158us-gaap:TransferredAtPointInTimeMember2023-01-012023-09-300000775158us-gaap:SoftwareAndSoftwareDevelopmentCostsMember2023-12-310000775158us-gaap:OperatingSegmentsMemberus-gaap:CorporateAndOtherMemberus-gaap:EMEAMember2023-01-012023-09-300000775158us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2023-07-012023-09-300000775158osk:IndirectGuaranteeOfDeferredPaymentAndLeasePaymentAgreementsMemberosk:ContingentPortionMember2022-12-310000775158us-gaap:OperatingSegmentsMemberosk:AccessMemberosk:OtherAccessEquipmentMember2023-07-012023-09-300000775158osk:AusacorpSLMemberosk:AccessMember2024-09-030000775158us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2024-07-012024-09-300000775158osk:PierceMemberosk:VocationalSegmentMember2024-01-012024-09-300000775158us-gaap:IntersegmentEliminationMemberosk:AccessMemberosk:AerialWorksPlatformsMember2024-07-012024-09-3000007751582022-05-030000775158osk:RestOfWorldMember2024-01-012024-09-300000775158us-gaap:IntersegmentEliminationMemberosk:DefenseMemberosk:DefenseProductMember2023-07-012023-09-300000775158osk:RearDischargeMixerBusinessMemberosk:VocationalSegmentMember2023-01-012023-09-300000775158us-gaap:TransferredAtPointInTimeMember2024-07-012024-09-300000775158osk:UncommittedLineOfCreditMember2024-09-300000775158us-gaap:TradeNamesMember2024-09-300000775158osk:AnticipatedContractsCostsMember2024-09-300000775158us-gaap:OperatingSegmentsMemberosk:DefenseMemberosk:DeliveryVehiclesMember2024-01-012024-09-300000775158us-gaap:FairValueInputsLevel1Member2024-09-300000775158osk:PersonalInjuryActionsAndOtherMember2024-09-300000775158osk:DefenseMemberosk:DefenseProductMember2023-01-012023-09-300000775158us-gaap:OperatingSegmentsMemberosk:AccessMembersrt:NorthAmericaMember2024-07-012024-09-300000775158osk:JbtAerotechMember2023-08-012023-09-300000775158us-gaap:OperatingSegmentsMemberosk:DefenseMemberosk:DeliveryVehiclesMember2023-07-012023-09-300000775158osk:PierceMemberosk:VocationalSegmentMember2023-07-012023-09-300000775158us-gaap:OperatingSegmentsMemberosk:RestOfWorldMemberosk:VocationalSegmentMember2023-07-012023-09-300000775158osk:AccessMemberosk:OtherAccessEquipmentMember2023-07-012023-09-300000775158osk:DefenseMemberosk:DeliveryVehiclesMember2024-07-012024-09-300000775158us-gaap:OperatingSegmentsMemberus-gaap:TransferredOverTimeMemberosk:AccessMember2023-07-012023-09-300000775158us-gaap:OperatingSegmentsMemberosk:AccessMember2023-01-012023-09-300000775158us-gaap:FairValueInputsLevel2Member2023-12-310000775158us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-12-3100007751582022-12-310000775158us-gaap:OperatingSegmentsMemberosk:VocationalSegmentMemberus-gaap:EMEAMember2023-01-012023-09-300000775158us-gaap:OperatingSegmentsMemberus-gaap:CorporateAndOtherMembersrt:NorthAmericaMember2023-07-012023-09-300000775158osk:CreditAgreementMembersrt:MaximumMember2024-01-012024-09-300000775158us-gaap:OperatingSegmentsMemberosk:RestOfWorldMemberosk:VocationalSegmentMember2024-01-012024-09-300000775158us-gaap:OperatingSegmentsMemberus-gaap:CorporateAndOtherMember2023-07-012023-09-300000775158osk:A460SeniorNotesDueMay2028Member2024-01-012024-09-300000775158us-gaap:IntersegmentEliminationMemberosk:DefenseMemberosk:DeliveryVehiclesMember2024-01-012024-09-300000775158us-gaap:OperatingSegmentsMemberosk:DefenseMembersrt:NorthAmericaMember2024-07-012024-09-300000775158osk:RefuseCollectionMemberosk:VocationalSegmentMember2023-07-012023-09-300000775158us-gaap:OperatingSegmentsMemberosk:OtherVocationalMemberosk:VocationalSegmentMember2023-01-012023-09-300000775158osk:TelehandlersMemberosk:AccessMember2024-07-012024-09-300000775158us-gaap:TreasuryStockCommonMember2024-01-012024-09-300000775158us-gaap:CommonStockMember2023-09-300000775158osk:AusacorpSLMemberus-gaap:SellingGeneralAndAdministrativeExpensesMember2024-01-012024-09-300000775158osk:DefenseMemberosk:DeliveryVehiclesMember2024-01-012024-09-300000775158us-gaap:IntersegmentEliminationMemberosk:VocationalSegmentMember2023-01-012023-09-300000775158us-gaap:RevolvingCreditFacilityMember2022-03-232022-03-230000775158osk:AccessMemberosk:AerialWorksPlatformsMember2023-01-012023-09-300000775158osk:TelehandlersMemberosk:AccessMember2023-01-012023-09-300000775158us-gaap:OperatingSegmentsMemberus-gaap:TransferredOverTimeMemberus-gaap:CorporateAndOtherMember2023-01-012023-09-300000775158osk:RefuseCollectionMemberus-gaap:OperatingSegmentsMemberosk:VocationalSegmentMember2023-01-012023-09-300000775158osk:AccessMemberosk:OtherAccessEquipmentMember2023-01-012023-09-300000775158us-gaap:EMEAMember2023-01-012023-09-300000775158osk:A460SeniorNotesDueMay2028Member2023-12-310000775158osk:RefuseCollectionMemberosk:VocationalSegmentMember2024-07-012024-09-300000775158us-gaap:OperatingSegmentsMemberus-gaap:TransferredOverTimeMemberosk:DefenseMember2023-01-012023-09-300000775158us-gaap:AdditionalPaidInCapitalMember2023-09-300000775158osk:AusacorpSLMember2024-09-030000775158us-gaap:IntersegmentEliminationMemberosk:VocationalSegmentMember2023-07-012023-09-300000775158osk:AusacorpSLMember2024-09-032024-09-300000775158us-gaap:TreasuryStockCommonMember2023-01-012023-09-300000775158us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-12-310000775158us-gaap:OperatingSegmentsMemberus-gaap:CorporateAndOtherMember2024-01-012024-09-300000775158osk:TelehandlersMemberus-gaap:IntersegmentEliminationMemberosk:AccessMember2023-01-012023-09-300000775158us-gaap:OperatingSegmentsMemberosk:DefenseMemberus-gaap:EMEAMember2023-07-012023-09-300000775158osk:RefuseCollectionMemberus-gaap:OperatingSegmentsMemberosk:VocationalSegmentMember2024-01-012024-09-300000775158us-gaap:OperatingSegmentsMemberosk:FireApparatusMemberosk:VocationalSegmentMember2023-07-012023-09-300000775158us-gaap:OperatingSegmentsMemberosk:VocationalSegmentMember2024-07-012024-09-300000775158us-gaap:CorporateAndOtherMemberosk:PrattMillerMember2024-04-012024-06-300000775158us-gaap:OperatingSegmentsMemberus-gaap:CorporateAndOtherMembersrt:NorthAmericaMember2024-07-012024-09-300000775158us-gaap:DistributionRightsMember2023-12-310000775158osk:RefuseCollectionMemberus-gaap:IntersegmentEliminationMemberosk:VocationalSegmentMember2024-07-012024-09-300000775158us-gaap:DevelopedTechnologyRightsMember2023-12-310000775158us-gaap:EMEAMember2024-01-012024-09-300000775158us-gaap:TransferredAtPointInTimeMemberus-gaap:OperatingSegmentsMemberosk:VocationalSegmentMember2023-01-012023-09-3000007751582023-12-310000775158us-gaap:OperatingSegmentsMemberosk:VocationalSegmentMember2024-01-012024-09-300000775158us-gaap:OperatingSegmentsMemberosk:OtherVocationalMemberosk:VocationalSegmentMember2023-07-012023-09-300000775158osk:ContingentPortionMember2024-01-012024-09-300000775158osk:AccessMember2024-01-012024-09-3000007751582023-07-012023-09-300000775158us-gaap:OperatingSegmentsMemberosk:DefenseMemberosk:RestOfWorldMember2023-01-012023-09-300000775158osk:PersonalInjuryActionsAndOtherMember2024-03-312024-03-310000775158us-gaap:CommonStockMember2023-07-012023-09-300000775158us-gaap:IntersegmentEliminationMemberosk:AccessMemberosk:OtherAccessEquipmentMember2024-01-012024-09-300000775158us-gaap:OperatingSegmentsMemberosk:AccessMemberosk:OtherAccessEquipmentMember2023-01-012023-09-300000775158us-gaap:TreasuryStockCommonMember2022-12-310000775158us-gaap:OtherIntangibleAssetsMember2024-09-300000775158us-gaap:FairValueInputsLevel2Memberosk:SERPPlanMember2024-09-300000775158osk:ContractFulfilmentOrCustomerOwnedToolingCostsMember2023-01-012023-09-300000775158osk:TelehandlersMemberus-gaap:IntersegmentEliminationMemberosk:AccessMember2023-07-012023-09-300000775158us-gaap:OperatingSegmentsMemberosk:DefenseMemberosk:DeliveryVehiclesMember2023-01-012023-09-300000775158osk:SERPPlanMemberus-gaap:FairValueInputsLevel1Member2023-12-310000775158osk:DefenseMember2024-07-012024-09-300000775158us-gaap:OperatingSegmentsMemberosk:FireApparatusMemberosk:VocationalSegmentMember2023-01-012023-09-300000775158us-gaap:IntersegmentEliminationMember2023-01-012023-09-300000775158srt:MinimumMemberosk:CreditAgreementMember2024-01-012024-09-300000775158osk:A310SeniorNotesDueMarch2030Member2023-12-310000775158osk:VocationalSegmentMember2023-01-012023-09-300000775158us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-09-300000775158us-gaap:RetainedEarningsMember2024-09-300000775158us-gaap:FairValueInputsLevel3Memberosk:SERPPlanMember2024-09-300000775158osk:TelehandlersMemberus-gaap:OperatingSegmentsMemberosk:AccessMember2024-01-012024-09-300000775158osk:CreditAgreementMember2024-09-300000775158osk:NonContingentPortionMember2024-01-012024-09-300000775158us-gaap:OperatingSegmentsMemberosk:RestOfWorldMemberosk:VocationalSegmentMember2023-01-012023-09-300000775158osk:IndirectGuaranteeOfDeferredPaymentAndLeasePaymentAgreementsMemberosk:NonContingentPortionMember2023-06-300000775158us-gaap:OperatingSegmentsMemberosk:AccessMemberosk:OtherAccessEquipmentMember2024-07-012024-09-300000775158us-gaap:RetainedEarningsMember2024-06-300000775158us-gaap:TreasuryStockCommonMember2023-09-300000775158osk:DefenseMemberosk:DefenseProductMember2023-07-012023-09-300000775158us-gaap:AdditionalPaidInCapitalMember2023-01-012023-09-300000775158us-gaap:CorporateAndOtherMemberosk:PrattMillerMember2024-09-300000775158us-gaap:IntersegmentEliminationMember2024-01-012024-09-300000775158osk:RestOfWorldMember2024-07-012024-09-300000775158us-gaap:MachineryAndEquipmentMember2024-09-300000775158us-gaap:OperatingSegmentsMemberosk:DefenseMemberosk:DefenseProductMember2023-07-012023-09-300000775158us-gaap:OperatingSegmentsMemberosk:DefenseMemberus-gaap:EMEAMember2023-01-012023-09-300000775158us-gaap:OperatingSegmentsMemberosk:AccessMemberus-gaap:EMEAMember2023-07-012023-09-300000775158us-gaap:LandAndLandImprovementsMember2024-09-300000775158us-gaap:LandAndLandImprovementsMember2023-12-310000775158osk:AusacorpSLMemberus-gaap:SellingGeneralAndAdministrativeExpensesMember2024-07-012024-09-300000775158us-gaap:OperatingSegmentsMember2024-01-012024-09-300000775158us-gaap:OperatingSegmentsMemberosk:AccessMemberosk:AerialWorksPlatformsMember2023-01-012023-09-300000775158osk:IndirectGuaranteeOfDeferredPaymentAndLeasePaymentAgreementsMemberosk:NonContingentPortionMember2023-01-012023-09-300000775158us-gaap:OperatingSegmentsMemberosk:AccessMember2024-07-012024-09-300000775158osk:DefenseMemberosk:DefenseProductMember2024-07-012024-09-300000775158osk:TelehandlersMemberosk:AccessMember2024-01-012024-09-300000775158us-gaap:AccountingStandardsUpdate202309Member2024-01-012024-06-300000775158osk:HinowaSPAMember2023-01-012023-01-310000775158osk:AccessMember2024-07-012024-09-300000775158us-gaap:TransferredAtPointInTimeMemberus-gaap:OperatingSegmentsMemberosk:VocationalSegmentMember2024-07-012024-09-300000775158us-gaap:TransferredOverTimeMember2023-01-012023-09-300000775158osk:PerformanceAndSpecialtyBondsMember2024-09-300000775158us-gaap:IntersegmentEliminationMemberosk:OtherVocationalMemberosk:VocationalSegmentMember2024-07-012024-09-300000775158us-gaap:OperatingSegmentsMemberosk:AccessMemberosk:AerialWorksPlatformsMember2023-07-012023-09-300000775158osk:IndirectGuaranteeOfDeferredPaymentAndLeasePaymentAgreementsMemberosk:NonContingentPortionMember2024-09-300000775158us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-01-012024-09-300000775158osk:IndirectGuaranteeOfDeferredPaymentAndLeasePaymentAgreementsMemberosk:NonContingentPortionMember2024-07-012024-09-300000775158us-gaap:OperatingSegmentsMemberosk:FireApparatusMemberosk:VocationalSegmentMember2024-07-012024-09-300000775158osk:AccessMemberosk:OtherAccessEquipmentMember2024-01-012024-09-300000775158osk:AccessMemberosk:AerialWorksPlatformsMember2024-01-012024-09-300000775158osk:VocationalSegmentMember2024-09-300000775158osk:RestOfWorldMember2023-07-012023-09-300000775158osk:ContractFulfilmentOrCustomerOwnedToolingCostsMember2024-07-012024-09-300000775158us-gaap:CommonStockMember2024-09-300000775158osk:SnowRemovalBusinessMember2023-07-312023-07-310000775158osk:DebtInstrumentVariableRateBaseFederalMemberosk:CreditAgreementMember2024-01-012024-09-300000775158us-gaap:OperatingSegmentsMemberus-gaap:CorporateAndOtherMemberus-gaap:EMEAMember2024-07-012024-09-300000775158us-gaap:OperatingSegmentsMemberosk:DefenseMemberus-gaap:EMEAMember2024-07-012024-09-300000775158us-gaap:BuildingMember2023-12-310000775158osk:AusacorpSLMember2024-01-012024-09-300000775158us-gaap:OperatingSegmentsMemberosk:AccessMember2023-07-012023-09-300000775158osk:FireApparatusMemberosk:VocationalSegmentMember2024-07-012024-09-300000775158us-gaap:CommonStockMember2024-06-300000775158us-gaap:OperatingSegmentsMember2024-07-012024-09-300000775158us-gaap:OperatingSegmentsMemberus-gaap:CorporateAndOtherMember2023-01-012023-09-300000775158us-gaap:IntersegmentEliminationMemberosk:DefenseMember2023-01-012023-09-300000775158us-gaap:RetainedEarningsMember2023-01-012023-09-300000775158osk:IndirectGuaranteeOfDeferredPaymentAndLeasePaymentAgreementsMember2024-09-300000775158us-gaap:RetainedEarningsMember2024-01-012024-09-300000775158us-gaap:OperatingSegmentsMemberosk:AccessMembersrt:NorthAmericaMember2024-01-012024-09-300000775158osk:OtherLongTermDebtMember2023-12-310000775158osk:A310SeniorNotesDueMarch2030Member2020-02-290000775158us-gaap:OperatingSegmentsMemberosk:AccessMemberosk:RestOfWorldMember2023-07-012023-09-300000775158osk:IndirectGuaranteeOfDeferredPaymentAndLeasePaymentAgreementsMemberosk:ContingentPortionMember2024-01-012024-09-300000775158us-gaap:ConstructionInProgressMember2023-12-310000775158osk:SnowRemovalApparatusBusinessMemberosk:DefenseMember2023-01-012023-09-300000775158us-gaap:CustomerRelationshipsMember2023-12-310000775158osk:ContractFulfilmentOrCustomerOwnedToolingCostsMember2024-01-012024-09-300000775158us-gaap:IntersegmentEliminationMemberosk:VocationalSegmentMember2024-01-012024-09-300000775158osk:JbtAerotechMember2023-01-012023-09-300000775158osk:A310SeniorNotesDueMarch2030Member2023-01-012023-12-310000775158osk:OtherVocationalMemberosk:VocationalSegmentMember2023-07-012023-09-300000775158osk:SERPPlanMember2024-09-300000775158osk:IndirectGuaranteeOfDeferredPaymentAndLeasePaymentAgreementsMemberosk:NonContingentPortionMember2024-06-300000775158osk:PensionBenefitsMember2024-01-012024-09-300000775158us-gaap:TreasuryStockCommonMember2023-12-310000775158osk:A310SeniorNotesDueMarch2030Member2024-09-300000775158us-gaap:OperatingSegmentsMemberosk:DefenseMemberosk:RestOfWorldMember2023-07-012023-09-300000775158us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-09-300000775158us-gaap:IntersegmentEliminationMemberosk:DefenseMember2023-07-012023-09-300000775158us-gaap:MachineryAndEquipmentMember2023-12-310000775158us-gaap:OperatingSegmentsMemberosk:AccessMemberus-gaap:EMEAMember2023-01-012023-09-300000775158osk:IndirectGuaranteeOfDeferredPaymentAndLeasePaymentAgreementsMemberosk:ContingentPortionMember2023-01-012023-09-300000775158osk:SecondLineOfCreditMember2023-12-310000775158osk:IndirectGuaranteeOfDeferredPaymentAndLeasePaymentAgreementsMemberosk:NonContingentPortionMember2024-01-012024-09-300000775158us-gaap:TransferredAtPointInTimeMemberus-gaap:OperatingSegmentsMemberus-gaap:CorporateAndOtherMember2023-07-012023-09-300000775158us-gaap:OperatingSegmentsMemberosk:AccessMembersrt:NorthAmericaMember2023-07-012023-09-300000775158us-gaap:IntersegmentEliminationMemberus-gaap:CorporateAndOtherMember2023-01-012023-09-300000775158us-gaap:OperatingSegmentsMemberosk:VocationalSegmentMemberus-gaap:EMEAMember2023-07-012023-09-300000775158us-gaap:OperatingSegmentsMemberus-gaap:CorporateAndOtherMember2024-07-012024-09-300000775158us-gaap:RetainedEarningsMember2023-09-300000775158us-gaap:CostOfSalesMember2024-07-012024-09-300000775158us-gaap:OperatingSegmentsMemberus-gaap:TransferredOverTimeMemberosk:AccessMember2024-07-012024-09-300000775158us-gaap:OperatingSegmentsMemberus-gaap:EMEAMemberosk:VocationalSegmentMember2024-07-012024-09-300000775158us-gaap:TransferredOverTimeMember2024-07-012024-09-300000775158osk:DefenseMember2024-01-012024-09-300000775158us-gaap:OperatingSegmentsMemberus-gaap:TransferredOverTimeMemberus-gaap:CorporateAndOtherMember2023-07-012023-09-300000775158osk:CustomerOwnedToolingMember2023-12-310000775158us-gaap:AdditionalPaidInCapitalMember2023-07-012023-09-300000775158osk:JbtAerotechMember2024-01-012024-03-310000775158osk:TelehandlersMemberosk:AccessMember2023-07-012023-09-300000775158us-gaap:OperatingSegmentsMemberosk:DefenseMembersrt:NorthAmericaMember2023-07-012023-09-300000775158us-gaap:CorporateAndOtherMember2023-07-012023-09-300000775158us-gaap:OperatingSegmentsMembersrt:NorthAmericaMemberosk:VocationalSegmentMember2023-01-012023-09-300000775158osk:EngineeringCostsMember2024-09-300000775158osk:PierceMemberosk:VocationalSegmentMember2024-07-012024-09-300000775158us-gaap:OperatingSegmentsMemberus-gaap:CorporateAndOtherMemberosk:RestOfWorldMember2024-07-012024-09-300000775158osk:IndirectGuaranteeOfDeferredPaymentAndLeasePaymentAgreementsMemberosk:ContingentPortionMember2024-07-012024-09-300000775158osk:SecondLineOfCreditMember2024-09-300000775158us-gaap:OperatingSegmentsMember2023-07-012023-09-300000775158us-gaap:EMEAMember2024-07-012024-09-300000775158osk:A310SeniorNotesDueMarch2030Member2020-02-012020-02-290000775158us-gaap:TransferredAtPointInTimeMemberus-gaap:OperatingSegmentsMemberosk:DefenseMember2024-07-012024-09-300000775158osk:IndirectGuaranteeOfDeferredPaymentAndLeasePaymentAgreementsMemberosk:ContingentPortionMember2023-12-310000775158us-gaap:OperatingSegmentsMemberus-gaap:TransferredOverTimeMemberosk:DefenseMember2024-01-012024-09-300000775158osk:OtherLongTermDebtMember2024-09-300000775158osk:CreditAgreementMember2024-01-012024-09-300000775158us-gaap:IntersegmentEliminationMemberosk:FireApparatusMemberosk:VocationalSegmentMember2024-01-012024-09-300000775158us-gaap:TransferredOverTimeMemberus-gaap:OperatingSegmentsMemberosk:DefenseMember2024-07-012024-09-300000775158us-gaap:RetainedEarningsMember2023-07-012023-09-300000775158osk:PensionBenefitsMember2023-07-012023-09-300000775158osk:IndirectGuaranteeOfDeferredPaymentAndLeasePaymentAgreementsMemberosk:ContingentPortionMember2024-09-300000775158osk:AccessMember2023-01-012023-09-300000775158osk:RearDischargeConcreteMixersMemberus-gaap:SellingGeneralAndAdministrativeExpensesMember2023-01-012023-03-310000775158us-gaap:CorporateAndOtherMember2023-12-310000775158us-gaap:IntersegmentEliminationMemberosk:OtherVocationalMemberosk:VocationalSegmentMember2023-07-012023-09-300000775158osk:IndirectGuaranteeOfDeferredPaymentAndLeasePaymentAgreementsMemberosk:NonContingentPortionMember2023-09-300000775158us-gaap:OperatingSegmentsMemberosk:OtherVocationalMemberosk:VocationalSegmentMember2024-07-012024-09-300000775158osk:PierceMemberosk:VocationalSegmentMember2023-01-012023-09-300000775158us-gaap:CorporateAndOtherMemberosk:PrattMillerMember2023-10-010000775158us-gaap:OperatingSegmentsMemberosk:VocationalSegmentMembersrt:NorthAmericaMember2024-07-012024-09-300000775158osk:HinowaSPAMember2024-09-300000775158us-gaap:OperatingSegmentsMemberosk:DefenseMembersrt:NorthAmericaMember2024-01-012024-09-300000775158us-gaap:RetainedEarningsMember2023-12-310000775158us-gaap:TreasuryStockCommonMember2023-06-300000775158us-gaap:OperatingSegmentsMemberosk:DefenseMemberosk:RestOfWorldMember2024-07-012024-09-300000775158us-gaap:IntersegmentEliminationMemberosk:DefenseMemberosk:DeliveryVehiclesMember2023-01-012023-09-300000775158us-gaap:CorporateAndOtherMemberosk:PrattMillerMemberus-gaap:CustomerRelationshipsMember2024-04-012024-06-300000775158us-gaap:TreasuryStockCommonMember2023-07-012023-09-300000775158us-gaap:IntersegmentEliminationMemberosk:AccessMember2024-07-012024-09-300000775158us-gaap:TransferredAtPointInTimeMember2024-01-012024-09-300000775158osk:DefenseMemberosk:DeliveryVehiclesMember2023-01-012023-09-300000775158osk:HinowaSPAMember2023-01-310000775158osk:AccessMemberosk:OtherAccessEquipmentMember2024-07-012024-09-300000775158us-gaap:TransferredAtPointInTimeMemberus-gaap:OperatingSegmentsMemberosk:DefenseMember2023-07-012023-09-3000007751582024-10-230000775158osk:HinowaSPAMember2023-02-282023-02-280000775158us-gaap:FairValueInputsLevel2Memberosk:SERPPlanMember2023-12-310000775158us-gaap:IntersegmentEliminationMemberosk:AccessMemberosk:AerialWorksPlatformsMember2023-07-012023-09-300000775158us-gaap:OperatingSegmentsMemberosk:AccessMemberus-gaap:EMEAMember2024-01-012024-09-300000775158us-gaap:FairValueInputsLevel3Member2024-09-300000775158osk:JbtAerotechMember2023-08-012023-08-010000775158us-gaap:IntersegmentEliminationMemberosk:FireApparatusMemberosk:VocationalSegmentMember2023-01-012023-09-300000775158us-gaap:OperatingSegmentsMemberosk:DefenseMemberus-gaap:EMEAMember2024-01-012024-09-300000775158us-gaap:OperatingSegmentsMemberosk:AccessMemberosk:RestOfWorldMember2024-07-012024-09-300000775158us-gaap:SoftwareAndSoftwareDevelopmentCostsMember2024-09-300000775158osk:VocationalSegmentMember2024-07-012024-09-300000775158us-gaap:IntersegmentEliminationMemberus-gaap:CorporateAndOtherMember2024-01-012024-09-300000775158us-gaap:AdditionalPaidInCapitalMember2023-06-300000775158osk:IndirectGuaranteeOfDeferredPaymentAndLeasePaymentAgreementsMemberosk:ContingentPortionMember2023-09-300000775158srt:MaximumMember2024-01-012024-09-300000775158us-gaap:AdditionalPaidInCapitalMember2024-09-300000775158osk:IndirectGuaranteeOfDeferredPaymentAndLeasePaymentAgreementsMemberosk:ContingentPortionMember2024-06-300000775158us-gaap:AdditionalPaidInCapitalMember2024-01-012024-09-300000775158us-gaap:OperatingSegmentsMemberosk:DefenseMember2024-01-012024-09-3000007751582024-09-300000775158osk:FireApparatusMemberosk:VocationalSegmentMember2023-07-012023-09-300000775158us-gaap:OperatingSegmentsMemberosk:DefenseMemberosk:RestOfWorldMember2024-01-012024-09-300000775158us-gaap:TransferredOverTimeMemberus-gaap:OperatingSegmentsMemberosk:VocationalSegmentMember2024-07-012024-09-300000775158us-gaap:OperatingSegmentsMemberosk:VocationalSegmentMember2023-01-012023-09-300000775158us-gaap:OperatingSegmentsMemberosk:RestOfWorldMemberosk:VocationalSegmentMember2024-07-012024-09-300000775158osk:CustomerOwnedToolingMember2024-09-300000775158osk:PerformanceAndSpecialtyBondsMember2023-12-310000775158srt:NorthAmericaMember2023-07-012023-09-300000775158us-gaap:EMEAMember2023-07-012023-09-300000775158us-gaap:OperatingSegmentsMemberus-gaap:CorporateAndOtherMemberosk:RestOfWorldMember2023-07-012023-09-300000775158us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-06-300000775158osk:A460SeniorNotesDueMay2028Member2018-05-012018-05-310000775158us-gaap:DistributionRightsMember2024-09-300000775158us-gaap:TransferredAtPointInTimeMemberus-gaap:OperatingSegmentsMemberosk:DefenseMember2024-01-012024-09-300000775158osk:RefuseCollectionMemberosk:VocationalSegmentMember2024-01-012024-09-300000775158osk:JbtAerotechMember2023-07-012023-09-3000007751582024-06-300000775158osk:PersonalInjuryActionsAndOtherMember2024-01-012024-09-300000775158osk:FactorySetupCostsMember2023-12-310000775158us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2024-01-012024-09-300000775158us-gaap:IntersegmentEliminationMemberosk:DefenseMember2024-01-012024-09-300000775158us-gaap:TransferredAtPointInTimeMemberus-gaap:OperatingSegmentsMemberosk:DefenseMember2023-01-012023-09-300000775158osk:TelehandlersMemberus-gaap:IntersegmentEliminationMemberosk:AccessMember2024-01-012024-09-300000775158us-gaap:TransferredOverTimeMemberus-gaap:OperatingSegmentsMemberus-gaap:CorporateAndOtherMember2024-01-012024-09-3000007751582024-07-012024-09-300000775158us-gaap:OperatingSegmentsMemberosk:DefenseMemberosk:DeliveryVehiclesMember2024-07-012024-09-300000775158us-gaap:OtherIntangibleAssetsMember2023-12-310000775158us-gaap:IntersegmentEliminationMemberosk:FireApparatusMemberosk:VocationalSegmentMember2023-07-012023-09-300000775158osk:JbtAerotechMember2024-01-012024-09-300000775158osk:DefenseMember2023-07-012023-09-300000775158us-gaap:CommonStockMember2023-01-012023-09-300000775158us-gaap:OperatingSegmentsMemberosk:DefenseMemberosk:DefenseProductMember2023-01-012023-09-300000775158us-gaap:IntersegmentEliminationMemberosk:FireApparatusMemberosk:VocationalSegmentMember2024-07-012024-09-300000775158us-gaap:IntersegmentEliminationMemberosk:AccessMember2023-07-012023-09-300000775158osk:RefuseCollectionMemberus-gaap:OperatingSegmentsMemberosk:VocationalSegmentMember2024-07-012024-09-300000775158osk:PensionBenefitsMember2024-07-012024-09-300000775158us-gaap:CommonStockMember2023-12-310000775158us-gaap:OperatingSegmentsMember2023-01-012023-09-300000775158us-gaap:TreasuryStockCommonMember2024-09-300000775158us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2023-01-012023-09-300000775158us-gaap:OperatingSegmentsMemberosk:VocationalSegmentMember2023-07-012023-09-300000775158osk:TelehandlersMemberus-gaap:IntersegmentEliminationMemberosk:AccessMember2024-07-012024-09-300000775158us-gaap:AdditionalPaidInCapitalMember2023-12-310000775158us-gaap:CorporateAndOtherMember2024-09-300000775158us-gaap:OperatingSegmentsMemberosk:AccessMemberosk:AerialWorksPlatformsMember2024-01-012024-09-300000775158osk:A460SeniorNotesDueMay2028Member2023-01-012023-12-310000775158us-gaap:RetainedEarningsMember2024-07-012024-09-300000775158us-gaap:OperatingSegmentsMemberus-gaap:TransferredOverTimeMemberosk:VocationalSegmentMember2023-01-012023-09-300000775158osk:AccessMemberosk:AerialWorksPlatformsMember2023-07-012023-09-300000775158us-gaap:IntersegmentEliminationMember2023-07-012023-09-300000775158osk:RefuseCollectionMemberosk:VocationalSegmentMember2023-01-012023-09-300000775158us-gaap:OperatingSegmentsMemberus-gaap:CorporateAndOtherMemberus-gaap:EMEAMember2024-01-012024-09-300000775158us-gaap:CommonStockMember2023-06-300000775158us-gaap:OperatingSegmentsMemberosk:OtherVocationalMemberosk:VocationalSegmentMember2024-01-012024-09-300000775158us-gaap:BuildingMember2024-09-300000775158osk:RefuseCollectionMemberus-gaap:IntersegmentEliminationMemberosk:VocationalSegmentMember2023-07-012023-09-300000775158us-gaap:RetainedEarningsMember2023-06-300000775158osk:SERPPlanMemberus-gaap:FairValueInputsLevel1Member2024-09-300000775158us-gaap:CommonStockMember2022-12-310000775158us-gaap:OperatingSegmentsMemberus-gaap:CorporateAndOtherMemberus-gaap:EMEAMember2023-07-012023-09-300000775158us-gaap:IntersegmentEliminationMemberosk:DefenseMember2024-07-012024-09-3000007751582023-06-300000775158us-gaap:CorporateAndOtherMember2024-07-012024-09-300000775158us-gaap:OperatingSegmentsMemberosk:DefenseMember2024-07-012024-09-300000775158osk:DefenseMemberosk:DeliveryVehiclesMember2023-07-012023-09-300000775158osk:AnticipatedContractsCostsMember2023-12-310000775158us-gaap:OperatingSegmentsMemberosk:DefenseMemberosk:DefenseProductMember2024-01-012024-09-300000775158osk:IndirectGuaranteeOfDeferredPaymentAndLeasePaymentAgreementsMemberosk:NonContingentPortionMember2023-07-012023-09-300000775158us-gaap:OperatingSegmentsMemberosk:AccessMemberosk:RestOfWorldMember2024-01-012024-09-300000775158osk:DefenseMember2023-01-012023-09-300000775158osk:JbtAerotechMember2023-08-010000775158us-gaap:TreasuryStockCommonMember2024-07-012024-09-300000775158us-gaap:OperatingSegmentsMemberosk:AccessMemberosk:AerialWorksPlatformsMember2024-07-012024-09-300000775158us-gaap:OperatingSegmentsMemberosk:DefenseMembersrt:NorthAmericaMember2023-01-012023-09-300000775158us-gaap:IntersegmentEliminationMemberosk:DefenseMemberosk:DeliveryVehiclesMember2024-07-012024-09-300000775158osk:VocationalSegmentMember2024-01-012024-09-300000775158us-gaap:IntersegmentEliminationMemberosk:AccessMember2024-01-012024-09-300000775158srt:MinimumMember2024-01-012024-09-300000775158osk:OtherVocationalMemberosk:VocationalSegmentMember2024-07-012024-09-300000775158us-gaap:RevolvingCreditFacilityMember2022-03-230000775158us-gaap:IntersegmentEliminationMemberosk:AccessMemberosk:OtherAccessEquipmentMember2023-01-012023-09-300000775158osk:PersonalInjuryActionsAndOtherMember2023-12-310000775158osk:JbtAerotechMember2024-07-012024-09-300000775158us-gaap:FairValueInputsLevel3Member2023-12-310000775158osk:A460SeniorNotesDueMay2028Member2018-05-310000775158osk:VocationalSegmentMember2023-12-310000775158osk:AccessMember2024-09-300000775158us-gaap:CorporateAndOtherMemberosk:PrattMillerMemberus-gaap:TradeNamesMember2024-04-012024-06-300000775158us-gaap:OperatingSegmentsMembersrt:NorthAmericaMemberosk:VocationalSegmentMember2023-07-012023-09-300000775158osk:AccessMember2023-12-310000775158us-gaap:IntersegmentEliminationMemberus-gaap:CorporateAndOtherMember2024-07-012024-09-300000775158osk:RefuseCollectionMemberus-gaap:IntersegmentEliminationMemberosk:VocationalSegmentMember2023-01-012023-09-30iso4217:EURxbrli:pureiso4217:USDxbrli:sharesxbrli:sharesiso4217:CNYosk:Segmentiso4217:USD

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

☒

 

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended September 30, 2024

or

☐

 

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Commission file number: 1-31371

Oshkosh Corporation

(Exact name of registrant as specified in its charter)

Wisconsin

 

39-0520270

(State or other jurisdiction
of incorporation or organization)

 

(I.R.S. Employer
Identification No.)

 

1917 Four Wheel Drive

Oshkosh, Wisconsin

 

54902

(Address of principal executive offices)

 

(Zip Code)

(920) 502-3400

(Registrant’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

 

Trading
Symbol(s)

 

Name of each exchange on which registered

Common Stock $0.01 par value

 

OSK

 

New York Stock Exchange

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. ☒ Yes ☐ No

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). ☒ Yes ☐ No

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer

☒

 

Accelerated filer

☐

Non-accelerated filer

☐

 

Smaller reporting company

☐

 

 

 

Emerging growth company

☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). ☐ Yes ☒ No

As of October 23, 2024, 65,064,997 shares of the registrant’s Common Stock were outstanding.

 

 

OSHKOSH CORPORATION

FORM 10-Q INDEX

 

 

 

Page

 

PART I - FINANCIAL INFORMATION

 

 

 

 

 

 

 

ITEM 1.

 

FINANCIAL STATEMENTS (UNAUDITED)

 

3

 

 

 

 

Condensed Consolidated Statements of Income for the Three and Nine Months Ended September 30, 2024 and 2023

 

3

 

 

 

 

Condensed Consolidated Statements of Comprehensive Income for the Three and Nine Months Ended September 30, 2024 and 2023

 

4

 

 

 

 

Condensed Consolidated Balance Sheets at September 30, 2024 and December 31, 2023

 

5

 

 

 

 

Condensed Consolidated Statements of Shareholders’ Equity for the Three and Nine Months Ended September 30, 2024 and 2023

 

6

 

 

 

 

Condensed Consolidated Statements of Cash Flows for the Nine Months Ended September 30, 2024 and 2023

 

8

 

 

 

 

Notes to Condensed Consolidated Financial Statements

 

9

 

 

 

ITEM 2.

 

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

 

31

 

 

 

ITEM 3.

 

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

 

41

 

 

 

ITEM 4.

 

CONTROLS AND PROCEDURES

 

42

 

 

 

 

 

 

PART II - OTHER INFORMATION

 

 

 

 

 

 

 

ITEM 1.

 

LEGAL PROCEEDINGS

 

43

 

 

 

ITEM 1A.

 

RISK FACTORS

 

43

 

 

 

ITEM 2.

 

UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

 

43

 

 

 

ITEM 4.

 

MINE SAFETY DISCLOSURES

 

43

 

 

 

 

 

ITEM 5.

 

OTHER INFORMATION

 

43

 

 

 

 

 

ITEM 6.

 

EXHIBITS

 

44

 

 

 

SIGNATURES

 

45

 

 

 

PART I - FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

OSHKOSH CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(Dollars in millions, except per share amounts; unaudited)

 

 

 

Three Months Ended
September 30,

 

 

Nine Months Ended
September 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Net sales

 

$

2,741.4

 

 

$

2,509.9

 

 

$

8,132.1

 

 

$

7,191.1

 

Cost of sales

 

 

2,235.4

 

 

 

2,041.8

 

 

 

6,610.0

 

 

 

5,964.7

 

Gross income

 

 

506.0

 

 

 

468.1

 

 

 

1,522.1

 

 

 

1,226.4

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating expenses:

 

 

 

 

 

 

 

 

 

 

 

 

Selling, general and administrative

 

 

226.4

 

 

 

201.6

 

 

 

643.2

 

 

 

586.1

 

Amortization of purchased intangibles

 

 

13.4

 

 

 

10.0

 

 

 

40.5

 

 

 

18.1

 

Intangible asset impairments

 

 

—

 

 

 

—

 

 

 

51.6

 

 

 

—

 

Total operating expenses

 

 

239.8

 

 

 

211.6

 

 

 

735.3

 

 

 

604.2

 

Operating income

 

 

266.2

 

 

 

256.5

 

 

 

786.8

 

 

 

622.2

 

 

 

 

 

 

 

 

 

 

 

 

 

Other income (expense):

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

 

(33.6

)

 

 

(19.6

)

 

 

(88.0

)

 

 

(46.3

)

Interest income

 

 

1.9

 

 

 

1.9

 

 

 

5.2

 

 

 

13.3

 

Miscellaneous, net

 

 

3.6

 

 

 

2.6

 

 

 

0.1

 

 

 

13.2

 

Income before income taxes and losses of unconsolidated affiliates

 

 

238.1

 

 

 

241.4

 

 

 

704.1

 

 

 

602.4

 

Provision for income taxes

 

 

56.6

 

 

 

55.3

 

 

 

164.8

 

 

 

145.8

 

Income before losses of unconsolidated affiliates

 

 

181.5

 

 

 

186.1

 

 

 

539.3

 

 

 

456.6

 

Losses of unconsolidated affiliates

 

 

(1.2

)

 

 

(2.4

)

 

 

(11.0

)

 

 

(9.4

)

Net income

 

$

180.3

 

 

$

183.7

 

 

$

528.3

 

 

$

447.2

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings per share:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

2.76

 

 

$

2.81

 

 

$

8.06

 

 

$

6.84

 

Diluted

 

 

2.75

 

 

 

2.79

 

 

 

8.02

 

 

 

6.80

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash dividends declared per share on Common Stock

 

$

0.46

 

 

$

0.41

 

 

$

1.38

 

 

$

1.23

 

 

The accompanying notes are an integral part of these financial statements.

3

 

OSHKOSH CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(Dollars in millions; unaudited)

 

 

 

Three Months Ended
September 30,

 

 

Nine Months Ended
September 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Net income

 

$

180.3

 

 

$

183.7

 

 

$

528.3

 

 

$

447.2

 

Other comprehensive income (loss), net of tax:

 

 

 

 

 

 

 

 

 

 

 

 

Pension and post-employment benefits

 

 

(0.4

)

 

 

(0.4

)

 

 

(1.3

)

 

 

(1.2

)

Currency translation adjustments

 

 

29.9

 

 

 

(22.4

)

 

 

1.0

 

 

 

(7.5

)

Change in fair value of derivative instruments

 

 

(0.1

)

 

 

(3.9

)

 

 

—

 

 

 

(8.9

)

Total other comprehensive income (loss), net of tax

 

 

29.4

 

 

 

(26.7

)

 

 

(0.3

)

 

 

(17.6

)

Comprehensive income

 

$

209.7

 

 

$

157.0

 

 

$

528.0

 

 

$

429.6

 

 

The accompanying notes are an integral part of these financial statements.

4

 

OSHKOSH CORPORATION

CONDENSED CONSOLIDATED BALANCE SHEETS

(Dollars in millions, except share and per share amounts; unaudited)

 

 

 

September 30,
2024

 

 

December 31,
2023

 

Assets

 

 

 

 

 

 

Current assets:

 

 

 

 

 

 

Cash and cash equivalents

 

$

160.9

 

 

$

125.4

 

Receivables, net

 

 

1,576.3

 

 

 

1,316.4

 

Unbilled receivables, net

 

 

854.8

 

 

 

771.6

 

Inventories

 

 

2,321.1

 

 

 

2,131.6

 

Income taxes receivable

 

 

43.2

 

 

 

42.2

 

Other current assets

 

 

101.7

 

 

 

93.6

 

Total current assets

 

 

5,058.0

 

 

 

4,480.8

 

Property, plant and equipment, net

 

 

1,145.2

 

 

 

1,069.5

 

Goodwill

 

 

1,437.9

 

 

 

1,416.4

 

Purchased intangible assets, net

 

 

808.5

 

 

 

830.2

 

Deferred income taxes

 

 

248.3

 

 

 

262.0

 

Deferred contract costs

 

 

828.1

 

 

 

710.7

 

Other non-current assets

 

 

349.9

 

 

 

359.6

 

Total assets

 

$

9,875.9

 

 

$

9,129.2

 

 

 

 

 

 

 

Liabilities and Shareholders’ Equity

 

 

 

 

 

 

Current liabilities:

 

 

 

 

 

 

Revolving credit facilities

 

$

934.5

 

 

$

175.0

 

Accounts payable

 

 

1,054.4

 

 

 

1,214.5

 

Customer advances

 

 

672.1

 

 

 

706.9

 

Payroll-related obligations

 

 

236.3

 

 

 

242.5

 

Income taxes payable

 

 

90.5

 

 

 

308.0

 

Other current liabilities

 

 

469.8

 

 

 

442.7

 

Total current liabilities

 

 

3,457.6

 

 

 

3,089.6

 

Long-term debt, less current maturities

 

 

602.3

 

 

 

597.5

 

Non-current customer advances

 

 

1,158.4

 

 

 

1,190.7

 

Deferred income taxes

 

 

30.4

 

 

 

26.8

 

Other non-current liabilities

 

 

525.2

 

 

519.3

 

Commitments and contingencies

 

 

 

 

 

 

Shareholders’ equity:

 

 

 

 

 

 

Preferred Stock ($0.01 par value; 2,000,000 shares authorized;
none issued and outstanding)

 

 

—

 

 

 

—

 

Common Stock ($0.01 par value; 300,000,000 shares authorized; 75,101,465 shares issued)

 

 

0.7

 

 

 

0.7

 

Additional paid-in capital

 

 

841.0

 

 

 

823.0

 

Retained earnings

 

 

4,244.0

 

 

 

3,805.8

 

Accumulated other comprehensive loss

 

 

(72.3

)

 

 

(72.0

)

Common Stock in treasury, at cost (10,038,645 and 9,627,658 shares, respectively)

 

 

(911.4

)

 

 

(852.2

)

Total shareholders’ equity

 

 

4,102.0

 

 

 

3,705.3

 

Total liabilities and shareholders’ equity

 

$

9,875.9

 

 

$

9,129.2

 

 

The accompanying notes are an integral part of these financial statements.

5

 

OSHKOSH CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY

(Dollars in millions, except per share amounts; unaudited)

 

 

 

Three Months Ended September 30, 2024

 

 

 

Common
Stock

 

 

Additional
Paid-In
Capital

 

 

Retained
Earnings

 

 

Accumulated Other
Comprehensive
Income (Loss)

 

 

Common
Stock in
Treasury
at Cost

 

 

Total

 

Balance at June 30, 2024

 

$

0.7

 

 

$

833.0

 

 

$

4,093.6

 

 

$

(101.7

)

 

$

(900.7

)

 

$

3,924.9

 

Net income

 

 

—

 

 

 

—

 

 

 

180.3

 

 

 

—

 

 

 

—

 

 

 

180.3

 

Pension and post-employment benefits, net of tax of $0.1

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(0.4

)

 

 

—

 

 

 

(0.4

)

Currency translation adjustments

 

 

—

 

 

 

—

 

 

 

—

 

 

 

29.9

 

 

 

—

 

 

 

29.9

 

Derivative instruments, net of tax

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(0.1

)

 

 

—

 

 

 

(0.1

)

Cash dividends ($0.46 per share)

 

 

—

 

 

 

—

 

 

 

(29.9

)

 

 

—

 

 

 

—

 

 

 

(29.9

)

Repurchases of Common Stock

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(11.0

)

 

 

(11.0

)

Exercise of stock options

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Stock-based compensation expense

 

 

—

 

 

 

9.0

 

 

 

 

 

 

—

 

 

 

—

 

 

 

9.0

 

Payment of stock-based restricted and performance shares

 

 

—

 

 

 

(1.1

)

 

 

—

 

 

 

—

 

 

 

1.1

 

 

 

—

 

Shares tendered for taxes on stock-based compensation

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(0.8

)

 

 

(0.8

)

Other

 

 

—

 

 

 

0.1

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

0.1

 

Balance at September 30, 2024

 

$

0.7

 

 

$

841.0

 

 

$

4,244.0

 

 

$

(72.3

)

 

$

(911.4

)

 

$

4,102.0

 

 

 

 

Three Months Ended September 30, 2023

 

 

 

Common
Stock

 

 

Additional
Paid-In
Capital

 

 

Retained
Earnings

 

 

Accumulated Other
Comprehensive
Income (Loss)

 

 

Common
Stock in
Treasury
at Cost

 

 

Total

 

Balance at June 30, 2023

 

$

0.7

 

 

$

816.1

 

 

$

3,524.9

 

 

$

(83.2

)

 

$

(861.7

)

 

$

3,396.8

 

Net income

 

 

—

 

 

 

—

 

 

 

183.7

 

 

 

—

 

 

 

—

 

 

 

183.7

 

Pension and post-employment benefits, net of tax of $0.2

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(0.4

)

 

 

—

 

 

 

(0.4

)

Currency translation adjustments

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(22.4

)

 

 

—

 

 

 

(22.4

)

Derivative instruments, net of tax

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(3.9

)

 

 

—

 

 

 

(3.9

)

Cash dividends ($0.41 per share)

 

 

—

 

 

 

—

 

 

 

(26.7

)

 

 

—

 

 

 

—

 

 

 

(26.7

)

Exercise of stock options

 

 

—

 

 

 

1.0

 

 

 

—

 

 

 

—

 

 

 

5.2

 

 

 

6.2

 

Stock-based compensation expense

 

 

—

 

 

 

10.1

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

10.1

 

Payment of stock-based restricted and performance shares

 

 

—

 

 

 

(0.3

)

 

 

—

 

 

 

—

 

 

 

0.3

 

 

 

—

 

Shares tendered for taxes on stock-based compensation

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(0.1

)

 

 

(0.1

)

Balance at September 30, 2023

 

$

0.7

 

 

$

826.9

 

 

$

3,681.9

 

 

$

(109.9

)

 

$

(856.3

)

 

$

3,543.3

 

 

The accompanying notes are an integral part of these financial statements.

 

 

 

 

 

6

 

OSHKOSH CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY

(Dollars in millions, except per share amounts; unaudited)

 

 

 

Nine Months Ended September 30, 2024

 

 

 

Common
Stock

 

 

Additional
Paid-In
Capital

 

 

Retained
Earnings

 

 

Accumulated Other
Comprehensive
Income (Loss)

 

 

Common
Stock in
Treasury
at Cost

 

 

Total

 

Balance at December 31, 2023

 

$

0.7

 

 

$

823.0

 

 

$

3,805.8

 

 

$

(72.0

)

 

$

(852.2

)

 

$

3,705.3

 

Net income

 

 

—

 

 

 

—

 

 

 

528.3

 

 

 

—

 

 

 

—

 

 

 

528.3

 

Pension and post-employment benefits, net of tax of $0.4

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(1.3

)

 

 

—

 

 

 

(1.3

)

Currency translation adjustments

 

 

—

 

 

 

—

 

 

 

—

 

 

 

1.0

 

 

 

—

 

 

 

1.0

 

Cash dividends ($1.38 per share)

 

 

—

 

 

 

—

 

 

 

(90.1

)

 

 

—

 

 

 

—

 

 

 

(90.1

)

Repurchases of Common Stock

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(65.6

)

 

 

(65.6

)

Exercise of stock options

 

 

—

 

 

 

0.9

 

 

 

—

 

 

 

—

 

 

 

3.2