OSHKOSH CORP Segments Disclosure

24. Business Segment Information

The Chief Executive Officer is the Company's Chief Operating Decision Maker. The Chief Operating Decision Maker uses operating income to measure performance of the Company's segments, allocate resources and make operating decisions. Operating income is utilized during the Company’s budgeting and forecasting process to assess segment profitability and enable decision making regarding strategic initiatives, capital investments and other resources. The Chief Operating Decision Maker regularly evaluates operating income compared to prior year and forecasted results. The Company’s reportable segments, which are organized on the basis of similar products, markets and operating factors, are as follows:

Access: This segment consists of the JLG and Jerr-Dan brands. JLG designs and manufactures mobile aerial work platforms and telehandlers and low-level access solutions that are sold worldwide for use in a wide variety of construction, industrial, institutional and general maintenance applications to position workers and materials at elevated heights. JerrDan designs and manufactures towing and recovery vehicles. Access customers include equipment rental companies, construction contractors, home improvement centers and towing companies.

Vocational: This segment includes the Pierce, Maxi-Metal, Oshkosh AeroTech, Oshkosh Airport Products, McNeilus, IMT, Oshkosh S-Series and Frontline brands. Pierce and Maxi-Metal design and manufacture commercial and custom fire apparatus vehicles primarily for fire departments, airports and other governmental units. Oshkosh AeroTech and Oshkosh Airport Products design and manufacture aviation ground support products, gate equipment and aircraft rescue and firefighting vehicles and provide airport services to commercial airlines, airports, air-freight carriers, ground handling customers and militaries. McNeilus designs and manufactures refuse and recycling collection vehicles. IMT designs and manufactures field service vehicles and truck-mounted cranes for niche markets. Oshkosh S-Series designs and manufactures front-discharge concrete mixer vehicles. Frontline designs and manufactures simulators, command vehicles and other communication vehicles.

Transport: This segment consists of the Oshkosh Defense and Oshkosh Delivery brands. The segment designs and manufactures tactical wheeled vehicles and supplies parts and services for the U.S. military and for other militaries around the world and designs and manufactures delivery vehicles for the USPS. Sales to the U.S. Government accounted for 92%, 96% and 84% of the segment's sales in 2025, 2024 and 2023, respectively.

In accordance with FASB ASC Topic 280, Segment Reporting, for purposes of business segment performance measurement, the Company does not allocate to individual business segments costs or items that are of a non-operating nature or organizational or functional expenses of a corporate nature. The caption “Corporate and other” includes Pratt Miller, corporate office expenses, certain new product development costs, stock-based compensation and costs of certain business initiatives and shared services.

The accounting policies of the reportable segments are the same as those described in Note 2.

 

		Year Ended December 31, 2025
		Access				Vocational				Transport				Total Segment				Corporate and Other				Consolidated
Net Sales		$	4,494.4			$	3,726.9			$	2,096.7			$	10,318.0			$	104.3			$	10,422.3
Cost of sales (excluding R&D)			3,590.2				2,844.3				1,909.5				8,344.0				85.6				8,429.6
Research and development			84.6				56.7				6.5				147.8				25.9				173.7
Gross income			819.6				825.9				180.7				1,826.2				(7.2	)			1,819.0
Employee compensation			157.7				129.7				52.6				340.0				150.3				490.3
Amortization of purchased intangibles			14.5				37.5				—				52.0				3.1				55.1
Intangible asset impairment			—				—				—				—				5.7				5.7
Other items(a)			145.4				111.6				50.3				307.3				21.1				328.4
Operating income		$	502.0			$	547.1			$	77.8			$	1,126.9			$	(187.4	)			939.5
Interest expense, net of interest income																							(108.9	)
Miscellaneous, net																							11.4
Income before income taxes and losses of unconsolidated affiliates																						$	842.0

 

		Year Ended December 31, 2024
		Access				Vocational				Transport				Total Segment				Corporate and Other				Consolidated
Net Sales		$	5,164.7			$	3,310.3			$	2,155.2			$	10,630.2			$	100.0			$	10,730.2
Cost of sales (excluding R&D)			3,951.4				2,583.4				1,977.9				8,512.7				79.0				8,591.7
Research and development			84.5				47.3				18.2				150.0				19.1				169.1
Gross income			1,128.8				679.6				159.1				1,967.5				1.9				1,969.4
Employee compensation			161.3				128.6				54.4				344.3				166.7				511.0
Amortization of purchased intangibles			10.7				39.7				—				50.4				4.3				54.7
Intangible asset impairment			—				—				—				—				51.6				51.6
Other items(a)			151.4				114.2				53.3				318.9				22.5				341.4
Operating income(b)		$	805.4			$	397.1			$	51.4			$	1,253.9			$	(243.2	)			1,010.7
Interest expense, net of interest income																							(111.9	)
Miscellaneous, net																							4.2
Income before income taxes and losses of unconsolidated affiliates																						$	903.0

 

 

Total assets by segment are not disclosed as the Company's Chief Operating Decision Maker does not use total assets by segment to evaluate segment performance or allocate resources and capital.

No other customer represented more than 10% of sales.