OSHKOSH CORPORATION NOTES OF CONSOLIDATED FINANCIAL STATEMENTS
Classification of receivables in the Consolidated Balance Sheets consisted of the following (in millions): December 31, 2025 2024 Current receivables $ 1,456.1 $ 1,254.7 Non-current receivables 38.7 27.2 Total receivables, net $ 1,494.8 $ 1,281.9 Changes in the Company’s allowance for doubtful accounts were as follows (in millions): Year Ended December 31, 2025 2024 Allowance at beginning of period $ 5.7 $ 7.4 Provision for doubtful accounts, net of recoveries 0.5 0.8 Charge-off of accounts (1.2) (2.3) Foreign currency translation 0.1 (0.2) Allowance at end of period $ 5.1 $ 5.7
10. Inventories Inventories consisted of the following (in millions):
December 31,
2025
2024
Raw materials Work in process Finished products
$
1,457.2 $
1,202.8
440.9 476.9
460.3 602.6
Total inventories
$
2,375.0 $
2,265.7
11. Property, Plant and Equipment Property, plant and equipment consisted of the following (in millions):
December 31,
2025
2024
Land and land improvements
$
110.4 $
106.5 514.1 245.3 210.2 1,318.5
Buildings
612.6
Machinery and equipment Software and related costs Construction in progress
1,460.2
251.4 137.1
Property, plant and equipment, gross
2,571.7 (1,300.5)
2,394.6 (1,178.1)
Less accumulated depreciation
Property, plant and equipment, net
$
1,271.2 $
1,216.5
Depreciation expense was $140.7 million, $115.0 million and $103.2 million in 2025, 2024 and 2023, respectively.
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