OSHKOSH CORPORATION NOTES OF CONSOLIDATED FINANCIAL STATEMENTS
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. Selected financial information relating to the Company’s reportable segments and product lines is as follows (in millions): Year Ended December 31, 2025 2024 2023 Net sales: Access Aerial work platforms $ 2,193.9 $ 2,443.9 $ 2,461.6 Telehandlers 1,141.6 1,569.0 1,480.2 Other 1,158.9 1,151.8 1,048.2 Total Access 4,494.4 5,164.7 4,990.0
Vocational Municipal fire apparatus
1,516.2
1,290.5
1,102.1
Airport products
975.3 743.9 491.5
862.5 686.2 471.1
376.7 590.7 508.6
Refuse and recycling vehicles
Other
Total Vocational
3,726.9
3,310.3
2,578.1
Transport Defense
1,628.0
2,051.5
2,001.4
Delivery vehicles
468.7
103.7
—
Total Transport
2,096.7
2,155.2
2,001.4
Corporate and Other
104.3
100.0
88.4
Consolidated
$ 10,422.3 $ 10,730.2 $
9,657.9
90
Made with FlippingBook Digital Proposal Creator