$HY
HYSTER-YALE, INC.

2021 Q3 Form 10-Q Financial Statement

#000117351421000104 Filed on November 02, 2021

View on sec.gov

Income Statement

Concept 2021 Q3 2020 Q3
Revenue $748.2M $652.4M
YoY Change 14.68% -14.83%
Cost Of Revenue $683.1M $549.0M
YoY Change 24.43% -13.0%
Gross Profit $65.10M $103.4M
YoY Change -37.04% -23.41%
Gross Profit Margin 8.7% 15.85%
Selling, General & Admin $119.4M $96.10M
YoY Change 24.25% -16.8%
% of Gross Profit 183.41% 92.94%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $11.40M $11.00M
YoY Change 3.64% 6.8%
% of Gross Profit 17.51% 10.64%
Operating Expenses $119.4M $96.10M
YoY Change 24.25% -16.8%
Operating Profit -$54.30M $7.300M
YoY Change -843.84% -62.56%
Interest Expense $4.100M $3.100M
YoY Change 32.26% -41.51%
% of Operating Profit 42.47%
Other Income/Expense, Net -$2.000M -$900.0K
YoY Change 122.22% -40.0%
Pretax Income -$56.30M $6.400M
YoY Change -979.69% -64.44%
Income Tax $20.50M $700.0K
% Of Pretax Income 10.94%
Net Earnings -$77.20M $5.100M
YoY Change -1613.73% -60.16%
Net Earnings / Revenue -10.32% 0.78%
Basic Earnings Per Share -$4.59 $0.30
Diluted Earnings Per Share -$4.59 $0.30
COMMON SHARES
Basic Shares Outstanding 16.82M shares 16.80M shares
Diluted Shares Outstanding 16.82M shares 16.80M shares

Balance Sheet

Concept 2021 Q3 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $61.40M $89.90M
YoY Change -31.7% 43.15%
Cash & Equivalents $61.40M $89.90M
Short-Term Investments
Other Short-Term Assets $49.80M $53.10M
YoY Change -6.21% 8.59%
Inventory $758.0M $490.3M
Prepaid Expenses
Receivables $475.8M $398.1M
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.345B $1.031B
YoY Change 30.41% -10.94%
LONG-TERM ASSETS
Property, Plant & Equipment $325.4M $329.2M
YoY Change -1.15% 11.56%
Goodwill $112.3M $109.9M
YoY Change 2.18% 5.98%
Intangibles $52.30M $57.00M
YoY Change -8.25% -5.0%
Long-Term Investments $69.60M $75.80M
YoY Change -8.18% -4.05%
Other Assets $101.6M $105.3M
YoY Change -3.51% -5.22%
Total Long-Term Assets $665.9M $702.5M
YoY Change -5.21% 3.29%
TOTAL ASSETS
Total Short-Term Assets $1.345B $1.031B
Total Long-Term Assets $665.9M $702.5M
Total Assets $2.011B $1.734B
YoY Change 15.98% -5.67%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $526.6M $361.8M
YoY Change 45.55% -6.92%
Accrued Expenses $55.70M $40.00M
YoY Change 39.25% -41.52%
Deferred Revenue
YoY Change
Short-Term Debt $80.10M $600.0K
YoY Change 13250.0% -99.09%
Long-Term Debt Due $86.90M $80.20M
YoY Change 8.35% -4.64%
Total Short-Term Liabilities $1.006B $677.8M
YoY Change 48.36% -19.18%
LONG-TERM LIABILITIES
Long-Term Debt $261.0M $216.9M
YoY Change 20.33% 7.91%
Other Long-Term Liabilities $174.3M $178.3M
YoY Change -2.24% -9.72%
Total Long-Term Liabilities $174.3M $178.3M
YoY Change -2.24% -9.72%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.006B $677.8M
Total Long-Term Liabilities $174.3M $178.3M
Total Liabilities $1.501B $1.131B
YoY Change 32.65% -12.69%
SHAREHOLDERS EQUITY
Retained Earnings $357.3M $435.4M
YoY Change -17.94% 1.42%
Common Stock $315.0M $312.7M
YoY Change 0.74% -2.16%
Preferred Stock
YoY Change
Treasury Stock (at cost) $4.900M $6.500M
YoY Change -24.62% -60.12%
Treasury Stock Shares
Shareholders Equity $476.1M $569.4M
YoY Change
Total Liabilities & Shareholders Equity $2.011B $1.734B
YoY Change 15.98% -5.67%

Cashflow Statement

Concept 2021 Q3 2020 Q3
OPERATING ACTIVITIES
Net Income -$77.20M $5.100M
YoY Change -1613.73% -60.16%
Depreciation, Depletion And Amortization $11.40M $11.00M
YoY Change 3.64% 6.8%
Cash From Operating Activities -$91.10M $88.10M
YoY Change -203.41% 64.37%
INVESTING ACTIVITIES
Capital Expenditures -$11.40M -$7.300M
YoY Change 56.16% -43.85%
Acquisitions
YoY Change
Other Investing Activities $500.0K $800.0K
YoY Change -37.5% -86.89%
Cash From Investing Activities -$10.90M -$6.500M
YoY Change 67.69% -5.8%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 77.20M -53.50M
YoY Change -244.3% 72.03%
NET CHANGE
Cash From Operating Activities -91.10M 88.10M
Cash From Investing Activities -10.90M -6.500M
Cash From Financing Activities 77.20M -53.50M
Net Change In Cash -24.80M 28.10M
YoY Change -188.26% 80.13%
FREE CASH FLOW
Cash From Operating Activities -$91.10M $88.10M
Capital Expenditures -$11.40M -$7.300M
Free Cash Flow -$79.70M $95.40M
YoY Change -183.54% 43.24%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
dei Entity Central Index Key
EntityCentralIndexKey
0001173514
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2021
dei Document Fiscal Period Focus
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dei Amendment Flag
AmendmentFlag
false
dei Document Type
DocumentType
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dei Document Quarterly Report
DocumentQuarterlyReport
true
dei Document Period End Date
DocumentPeriodEndDate
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dei Document Transition Report
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dei Entity File Number
EntityFileNumber
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dei Entity Registrant Name
EntityRegistrantName
HYSTER-YALE MATERIALS HANDLING, INC.
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
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dei Entity Address Address Line1
EntityAddressAddressLine1
5875 LANDERBROOK DRIVE, SUITE 300
dei Entity Address City Or Town
EntityAddressCityOrTown
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dei City Area Code
CityAreaCode
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dei Entity Address State Or Province
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OH
dei Local Phone Number
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dei Entity Address Postal Zip Code
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dei Security12b Title
Security12bTitle
Class A Common Stock, $0.01 Par Value Per Share
dei Trading Symbol
TradingSymbol
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dei Security Exchange Name
SecurityExchangeName
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CY2020Q3 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Net Of Tax
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Net Of Tax
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Net Of Tax
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CY2020Q3 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
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us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
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us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
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us-gaap Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Discount Rate
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CY2020Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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us-gaap Net Income Loss Attributable To Noncontrolling Interest
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us-gaap Net Income Loss Attributable To Noncontrolling Interest
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CY2020Q3 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Noncontrolling Interest
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us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Noncontrolling Interest
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us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Noncontrolling Interest
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CY2021Q3 us-gaap Comprehensive Income Net Of Tax
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CY2020Q3 us-gaap Comprehensive Income Net Of Tax
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us-gaap Comprehensive Income Net Of Tax
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us-gaap Comprehensive Income Net Of Tax
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2019Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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us-gaap Stock Issued During Period Value Share Based Compensation
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us-gaap Treasury Stock Value Acquired Cost Method
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us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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us-gaap Stock Issued During Period Value Share Based Compensation
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us-gaap Profit Loss
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us-gaap Dividends Common Stock Cash
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us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
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us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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1500000 USD
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Noncontrolling Interest
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CY2021Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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us-gaap Use Of Estimates
UseOfEstimates
These financial statements have been prepared in accordance with U.S. generally accepted accounting principles ("GAAP") for interim financial information and the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of <div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation of the financial position of the Company as of September 30, 2021 and the results of its operations and changes in equity for the three and nine months ended September 30, 2021 and 2020, and the results of its cash flows for the nine months ended September 30, 2021 and 2020 have been included. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2020.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The accompanying unaudited condensed consolidated balance sheet at December 31, 2020 has been derived from the audited financial statements at that date but does not include all of the information or notes required by GAAP for complete financial statements.</span></div>
us-gaap Revenue Performance Obligation Description Of Timing
RevenuePerformanceObligationDescriptionOfTiming
Revenue is recognized when obligations under the terms of a contract with the customer are satisfied, which occurs when control of the trucks, parts, or services are transferred to the customer. Revenue is measured as the amount of consideration expected to be received in exchange for transferring goods or providing services. The satisfaction of performance obligations under the terms of a revenue contract generally gives rise for the right to payment from the customer. The Company's standard payment terms vary by the type and location of the customer and the products or services offered. Generally, the time between when revenue is recognized and when payment is due is not significant. Given the insignificant days between revenue recognition and receipt of payment, financing components do not exist between the Company and its customers. Taxes collected from customers are excluded from revenue. The estimated costs of product warranties are recognized as expense when the products are sold. See Note 12 for further information on product warranties.
us-gaap Revenue Performance Obligation Satisfied At Point In Time Transfer Of Control
RevenuePerformanceObligationSatisfiedAtPointInTimeTransferOfControl
The majority of the Company's sales contracts contain performance obligations satisfied at a point in time when title and risks and rewards of ownership have transferred to the customer. Revenues for service contracts are recognized as the services are provided
us-gaap Revenue Information Used To Assess Variable Consideration Constraint
RevenueInformationUsedToAssessVariableConsiderationConstraint
The Company also records variable consideration in the form of estimated reductions to revenues for customer programs and incentive offerings, including special pricing agreements, promotions and other volume-based incentives. Lift truck sales revenue is recorded net of estimated discounts. The estimated discount amount is based upon historical experience and trend analysis for each lift truck model. In addition to standard discounts, dealers can also request additional discounts that allow them to offer price concessions to customers. From time to time, the Company offers special incentives to increase market share or dealer stock and offers certain customers volume rebates if a specified cumulative level of purchases is obtained.
CY2021Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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CY2021Q3 us-gaap Revenues
Revenues
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CY2020Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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CY2020Q3 us-gaap Revenues
Revenues
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
0 USD
us-gaap Revenues
Revenues
2246000000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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us-gaap Revenues
Revenues
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us-gaap Revenue Performance Obligation Description Of Returns And Other Similar Obligations
RevenuePerformanceObligationDescriptionOfReturnsAndOtherSimilarObligations
When customers are given the right to return eligible parts and accessories, the Company estimates the expected returns based on an analysis of historical experience. The Company adjusts estimated revenues at the earlier of when the most likely amount of consideration expected to be received changes or when the consideration becomes fixed.
us-gaap Revenue Performance Obligation Satisfied Over Time Method Used Description
RevenuePerformanceObligationSatisfiedOverTimeMethodUsedDescription
The Company recognizes revenue for extended warranty and maintenance agreements based on the standalone selling price over the life of the contract, which reflects the costs to perform under these contracts and corresponds with, and thereby depicts, the transfer of control to the customer.
CY2020Q4 us-gaap Deferred Revenue
DeferredRevenue
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us-gaap Deferred Revenue Additions
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us-gaap Deferred Revenue Revenue Recognized1
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CY2021Q3 us-gaap Deferred Revenue
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CY2020Q3 us-gaap Revenues
Revenues
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us-gaap Revenues
Revenues
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us-gaap Revenues
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CY2020Q3 us-gaap Gross Profit
GrossProfit
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us-gaap Gross Profit
GrossProfit
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us-gaap Gross Profit
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CY2020Q3 us-gaap Operating Income Loss
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us-gaap Operating Income Loss
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us-gaap Operating Income Loss
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CY2020Q3 us-gaap Net Income Loss
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us-gaap Net Income Loss
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us-gaap Net Income Loss
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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2020Q3 hy Effective Income Tax Rate Reconciliation Interim Adjustment Amount
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CY2020Q3 us-gaap Income Tax Reconciliation State And Local Income Taxes
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us-gaap Income Tax Reconciliation State And Local Income Taxes
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us-gaap Income Tax Reconciliation State And Local Income Taxes
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CY2021Q3 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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CY2020Q3 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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CY2020Q3 hy Effective Income Tax Rate Reconciliation Gilti
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hy Effective Income Tax Rate Reconciliation Gilti
EffectiveIncomeTaxRateReconciliationGILTI
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CY2021Q3 us-gaap Income Tax Reconciliation Other Adjustments
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CY2020Q3 us-gaap Income Tax Reconciliation Other Adjustments
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us-gaap Income Tax Reconciliation Other Adjustments
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us-gaap Income Tax Reconciliation Other Adjustments
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CY2021Q3 hy Effective Income Tax Rate Reconciliation Permanent Adjustments Amount
EffectiveIncomeTaxRateReconciliationPermanentAdjustmentsAmount
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CY2020Q3 hy Effective Income Tax Rate Reconciliation Permanent Adjustments Amount
EffectiveIncomeTaxRateReconciliationPermanentAdjustmentsAmount
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hy Effective Income Tax Rate Reconciliation Permanent Adjustments Amount
EffectiveIncomeTaxRateReconciliationPermanentAdjustmentsAmount
13900000 USD
hy Effective Income Tax Rate Reconciliation Permanent Adjustments Amount
EffectiveIncomeTaxRateReconciliationPermanentAdjustmentsAmount
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CY2021Q3 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
21900000 USD
CY2020Q3 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
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us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
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us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
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CY2021Q3 us-gaap Unrecognized Tax Benefits Period Increase Decrease
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CY2020Q3 us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
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us-gaap Unrecognized Tax Benefits Period Increase Decrease
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-4400000 USD
us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
-4600000 USD
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IncomeTaxReconciliationPriorYearIncomeTaxes
-2100000 USD
CY2020Q3 us-gaap Income Tax Reconciliation Prior Year Income Taxes
IncomeTaxReconciliationPriorYearIncomeTaxes
-1100000 USD
CY2021Q3 us-gaap Long Term Debt
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401900000 USD
us-gaap Income Tax Reconciliation Prior Year Income Taxes
IncomeTaxReconciliationPriorYearIncomeTaxes
-2100000 USD
us-gaap Income Tax Reconciliation Prior Year Income Taxes
IncomeTaxReconciliationPriorYearIncomeTaxes
-1100000 USD
CY2021Q3 us-gaap Other Tax Expense Benefit
OtherTaxExpenseBenefit
300000 USD
CY2020Q3 us-gaap Other Tax Expense Benefit
OtherTaxExpenseBenefit
200000 USD
us-gaap Other Tax Expense Benefit
OtherTaxExpenseBenefit
1000000.0 USD
us-gaap Other Tax Expense Benefit
OtherTaxExpenseBenefit
-600000 USD
CY2021Q3 hy Effective Income Tax Rate Reconciliation Discrete Adjustments Amount
EffectiveIncomeTaxRateReconciliationDiscreteAdjustmentsAmount
18900000 USD
CY2020Q3 hy Effective Income Tax Rate Reconciliation Discrete Adjustments Amount
EffectiveIncomeTaxRateReconciliationDiscreteAdjustmentsAmount
-900000 USD
hy Effective Income Tax Rate Reconciliation Discrete Adjustments Amount
EffectiveIncomeTaxRateReconciliationDiscreteAdjustmentsAmount
16700000 USD
hy Effective Income Tax Rate Reconciliation Discrete Adjustments Amount
EffectiveIncomeTaxRateReconciliationDiscreteAdjustmentsAmount
-6300000 USD
CY2021Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
20500000 USD
CY2020Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
700000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
20500000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2500000 USD
CY2021Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.364
CY2020Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.109
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.428
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.090
CY2021Q3 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
21900000 USD
CY2021Q3 us-gaap Income Tax Reconciliation Prior Year Income Taxes
IncomeTaxReconciliationPriorYearIncomeTaxes
-2100000 USD
CY2021Q3 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
400000 USD
CY2021Q3 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
2600000 USD
CY2021Q3 us-gaap Income Tax Reconciliation Tax Contingencies Other
IncomeTaxReconciliationTaxContingenciesOther
1400000 USD
CY2021Q3 us-gaap Income Tax Reconciliation Tax Settlements
IncomeTaxReconciliationTaxSettlements
1100000 USD
CY2021Q3 us-gaap Income Tax Reconciliation Tax Contingencies Foreign
IncomeTaxReconciliationTaxContingenciesForeign
600000 USD
us-gaap Income Tax Reconciliation Tax Contingencies Foreign
IncomeTaxReconciliationTaxContingenciesForeign
2000000 USD
CY2021Q2 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
3300000 USD
CY2020Q3 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
4300000 USD
CY2021Q3 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
4400000 USD
CY2021Q3 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
400800000 USD
CY2020Q4 us-gaap Long Term Debt
LongTermDebt
260500000 USD
us-gaap Discussion Of Objectives For Using Interest Rate Derivative Instruments
DiscussionOfObjectivesForUsingInterestRateDerivativeInstruments
The Company uses interest rate swap agreements to partially reduce risks related to floating rate financing agreements that are subject to changes in the market rate of interest. Terms of the interest rate swap agreements require the Company to receive a variable interest rate and pay a fixed interest rate. The Company's interest rate swap agreements and the associated variable rate financings are predominately based upon the one-month LIBOR. Changes in the fair value of interest rate swap agreements that are effective as hedges are recorded in OCI. Deferred gains or losses are reclassified from OCI to the unaudited condensed consolidated statements of operations in the same period as the gains or losses from the underlying transactions are recorded and are generally recognized in interest expense.
CY2021Q3 us-gaap Interest Rate Derivatives At Fair Value Net
InterestRateDerivativesAtFairValueNet
-4900000 USD
CY2020Q4 us-gaap Interest Rate Derivatives At Fair Value Net
InterestRateDerivativesAtFairValueNet
-4900000 USD
CY2021Q3 us-gaap Interest Rate Cash Flow Hedge Gain Loss To Be Reclassified During Next12 Months Net
InterestRateCashFlowHedgeGainLossToBeReclassifiedDuringNext12MonthsNet
3700000 USD
CY2021Q3 us-gaap Derivative Instruments In Hedges Assets At Fair Value
DerivativeInstrumentsInHedgesAssetsAtFairValue
9100000 USD
CY2020Q4 us-gaap Derivative Instruments In Hedges Assets At Fair Value
DerivativeInstrumentsInHedgesAssetsAtFairValue
28000000.0 USD
CY2021Q3 us-gaap Derivative Instruments In Hedges Liabilities At Fair Value
DerivativeInstrumentsInHedgesLiabilitiesAtFairValue
27400000 USD
CY2020Q4 us-gaap Derivative Instruments In Hedges Liabilities At Fair Value
DerivativeInstrumentsInHedgesLiabilitiesAtFairValue
11500000 USD
CY2021Q3 us-gaap Derivative Instruments Not Designated As Hedging Instruments Asset At Fair Value
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsAssetAtFairValue
1700000 USD
CY2020Q4 us-gaap Derivative Instruments Not Designated As Hedging Instruments Asset At Fair Value
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsAssetAtFairValue
3500000 USD
CY2021Q3 us-gaap Derivative Instruments Not Designated As Hedging Instruments Liability At Fair Value
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsLiabilityAtFairValue
4400000 USD
CY2020Q4 us-gaap Derivative Instruments Not Designated As Hedging Instruments Liability At Fair Value
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsLiabilityAtFairValue
1400000 USD
CY2021Q3 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
10800000 USD
CY2020Q4 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
31500000 USD
CY2021Q3 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
31800000 USD
CY2020Q4 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
12900000 USD
CY2021Q3 hy Derivative Asset Fair Value Gross Asset By Counterparty
DerivativeAssetFairValueGrossAssetByCounterparty
1000000.0 USD
CY2021Q3 us-gaap Derivative Fair Value Of Derivative Asset Amount Offset Against Collateral
DerivativeFairValueOfDerivativeAssetAmountOffsetAgainstCollateral
1000000.0 USD
CY2021Q3 us-gaap Derivative Assets
DerivativeAssets
0 USD
CY2021Q3 us-gaap Derivative Assets
DerivativeAssets
0 USD
CY2021Q3 hy Derivative Liability Fair Value Gross Liability By Counterparty
DerivativeLiabilityFairValueGrossLiabilityByCounterparty
22000000.0 USD
CY2021Q3 us-gaap Derivative Fair Value Of Derivative Liability Amount Offset Against Collateral
DerivativeFairValueOfDerivativeLiabilityAmountOffsetAgainstCollateral
1000000.0 USD
CY2021Q3 us-gaap Derivative Liabilities
DerivativeLiabilities
21000000.0 USD
CY2021Q3 us-gaap Derivative Liabilities
DerivativeLiabilities
21000000.0 USD
CY2020Q4 hy Derivative Asset Fair Value Gross Asset By Counterparty
DerivativeAssetFairValueGrossAssetByCounterparty
25900000 USD
CY2020Q4 us-gaap Derivative Fair Value Of Derivative Asset Amount Offset Against Collateral
DerivativeFairValueOfDerivativeAssetAmountOffsetAgainstCollateral
2400000 USD
CY2020Q4 us-gaap Derivative Assets
DerivativeAssets
23500000 USD
CY2020Q4 us-gaap Derivative Assets
DerivativeAssets
23500000 USD
CY2020Q4 hy Derivative Liability Fair Value Gross Liability By Counterparty
DerivativeLiabilityFairValueGrossLiabilityByCounterparty
7300000 USD
CY2020Q4 us-gaap Derivative Fair Value Of Derivative Liability Amount Offset Against Collateral
DerivativeFairValueOfDerivativeLiabilityAmountOffsetAgainstCollateral
2400000 USD
CY2020Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
4900000 USD
CY2020Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
4900000 USD
CY2021Q3 us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
-2700000 USD
CY2020Q3 us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
-5600000 USD
us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
-8900000 USD
us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
-4300000 USD
CY2020 us-gaap Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Discount Rate
DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostDiscountRate
0.0209
CY2021Q3 hy Defined Benefit Plan Change In Funded Unfunded Status Of Plan Due To Remeasurement
DefinedBenefitPlanChangeInFundedUnfundedStatusOfPlanDueToRemeasurement
200000 USD
hy Other Comprehensive Income Loss Finalization Of Pension Plan Valuation Before Tax
OtherComprehensiveIncomeLossFinalizationOfPensionPlanValuationBeforeTax
1400000 USD
hy Other Comprehensive Income Loss Finalization Of Pension Plan Valuation Net Of Tax
OtherComprehensiveIncomeLossFinalizationOfPensionPlanValuationNetOfTax
1400000 USD
us-gaap Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Discount Rate
DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostDiscountRate
0.0227
CY2019 us-gaap Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Discount Rate
DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostDiscountRate
0.0302
CY2020Q3 hy Defined Benefit Plan Change In Funded Unfunded Status Of Plan Due To Remeasurement
DefinedBenefitPlanChangeInFundedUnfundedStatusOfPlanDueToRemeasurement
2700000 USD
hy Other Comprehensive Income Loss Finalization Of Pension Plan Valuation Before Tax
OtherComprehensiveIncomeLossFinalizationOfPensionPlanValuationBeforeTax
3600000 USD
hy Other Comprehensive Income Loss Finalization Of Pension Plan Valuation Net Of Tax
OtherComprehensiveIncomeLossFinalizationOfPensionPlanValuationNetOfTax
2800000 USD
CY2021Q3 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
336200000 USD
CY2020Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
269000000.0 USD
CY2021Q3 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
36900000 USD
CY2020Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
21000000.0 USD
CY2021Q3 us-gaap Inventory Raw Materials And Purchased Parts Net Of Reserves
InventoryRawMaterialsAndPurchasedPartsNetOfReserves
450600000 USD
CY2020Q4 us-gaap Inventory Raw Materials And Purchased Parts Net Of Reserves
InventoryRawMaterialsAndPurchasedPartsNetOfReserves
269400000 USD
CY2021Q3 us-gaap Fifo Inventory Amount
FIFOInventoryAmount
823700000 USD
CY2020Q4 us-gaap Fifo Inventory Amount
FIFOInventoryAmount
559400000 USD
CY2021Q3 us-gaap Inventory Lifo Reserve
InventoryLIFOReserve
65700000 USD
CY2020Q4 us-gaap Inventory Lifo Reserve
InventoryLIFOReserve
50000000.0 USD
CY2021Q3 us-gaap Inventory Net
InventoryNet
758000000.0 USD
CY2020Q4 us-gaap Inventory Net
InventoryNet
509400000 USD
CY2021Q3 us-gaap Percentage Of Lifo Inventory
PercentageOfLIFOInventory
0.52
CY2020Q4 us-gaap Percentage Of Lifo Inventory
PercentageOfLIFOInventory
0.42
CY2021Q3 us-gaap Goodwill
Goodwill
112300000 USD
CY2020Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
64700000 USD
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
23000000.0 USD
us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
-1500000 USD
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
21100000 USD
us-gaap Standard And Extended Product Warranty Accrual Foreign Currency Translation Gain Loss
StandardAndExtendedProductWarrantyAccrualForeignCurrencyTranslationGainLoss
-900000 USD
CY2021Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
67200000 USD
us-gaap Gain Contingency Description
GainContingencyDescription
The current estimate of the refund calculated on a gross basis is approximately 110 million Brazilian reais, or approximately $20 million as of September 30, 2021.
CY2021Q3 hy Former Gain Contingency Net Realizable Value At Discount
FormerGainContingencyNetRealizableValueAtDiscount
42000000 BRL
CY2021Q3 hy Former Gain Contingency Net Realizable Value At Discount
FormerGainContingencyNetRealizableValueAtDiscount
7800000 USD
CY2021Q3 hy Former Gain Contingency Net Realizable Value
FormerGainContingencyNetRealizableValue
12000000 BRL
CY2021Q3 hy Former Gain Contingency Net Realizable Value
FormerGainContingencyNetRealizableValue
2400000 USD
CY2021Q3 hy Former Gain Contingency Recognized
FormerGainContingencyRecognized
2200000 USD
hy Former Gain Contingency Recognized
FormerGainContingencyRecognized
8500000 USD
CY2021Q3 us-gaap Guarantee Obligations Maximum Exposure
GuaranteeObligationsMaximumExposure
115500000 USD
CY2020Q4 us-gaap Guarantee Obligations Maximum Exposure
GuaranteeObligationsMaximumExposure
119700000 USD
hy Guarantor Obligations Collateral
GuarantorObligationsCollateral
177700000 USD
hy Percentage Of Loan Losses Guaranteed
PercentageOfLoanLossesGuaranteed
0.075
CY2021Q3 hy Loan Losses Guaranteed
LoanLossesGuaranteed
11500000 USD
CY2021Q3 us-gaap Guarantee Obligations Maximum Exposure
GuaranteeObligationsMaximumExposure
115500000 USD
hy Guarantor Obligations Related Party Disclosures
GuarantorObligationsRelatedPartyDisclosures
94500000 USD
CY2021Q3 us-gaap Guarantee Obligations Maximum Exposure
GuaranteeObligationsMaximumExposure
115500000 USD
hy Guarantor Obligations Related Party Disclosures
GuarantorObligationsRelatedPartyDisclosures
94500000 USD
hy Guarantor Obligations Related Party Disclosures
GuarantorObligationsRelatedPartyDisclosures
94500000 USD
CY2021Q3 us-gaap Guarantee Obligations Maximum Exposure
GuaranteeObligationsMaximumExposure
115500000 USD
CY2021Q3 hy Loan Losses Guaranteed
LoanLossesGuaranteed
11500000 USD
CY2021Q3 hy Loan Losses Guaranteed
LoanLossesGuaranteed
11500000 USD
hy Netguaranteeofoutstandingdebt
Netguaranteeofoutstandingdebt
105100000 USD
CY2021Q3 us-gaap Guarantees Fair Value Disclosure
GuaranteesFairValueDisclosure
305000000.0 USD
us-gaap Debt Securities Gain Loss
DebtSecuritiesGainLoss
4600000 USD
us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
4400000 USD
us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
5500000 USD
us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
7300000 USD
us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
15700000 USD
CY2021Q3 us-gaap Restructuring Charges
RestructuringCharges
300000 USD
us-gaap Restructuring Reserve Period Increase Decrease
RestructuringReservePeriodIncreaseDecrease
-100000 USD
CY2021Q3 us-gaap Payments For Restructuring
PaymentsForRestructuring
1200000 USD
us-gaap Payments For Restructuring
PaymentsForRestructuring
2500000 USD
CY2021Q3 us-gaap Restructuring And Related Cost Cost Incurred To Date1
RestructuringAndRelatedCostCostIncurredToDate1
4300000 USD
us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
4400000 USD
us-gaap Restructuring Reserve Period Increase Decrease
RestructuringReservePeriodIncreaseDecrease
-100000 USD
CY2020Q4 us-gaap Restructuring Reserve
RestructuringReserve
4400000 USD
us-gaap Restructuring Charges
RestructuringCharges
400000 USD
us-gaap Restructuring Reserve Accrual Adjustment1
RestructuringReserveAccrualAdjustment1
-500000 USD
us-gaap Payments For Restructuring
PaymentsForRestructuring
2500000 USD
us-gaap Restructuring Reserve Translation Adjustment
RestructuringReserveTranslationAdjustment
-200000 USD
CY2021Q3 us-gaap Restructuring Reserve
RestructuringReserve
1600000 USD
us-gaap Business Combination Contingent Consideration Arrangements Change In The Range Of Outcomes Contingent Consideration Liability Reasons
BusinessCombinationContingentConsiderationArrangementsChangeInTheRangeOfOutcomesContingentConsiderationLiabilityReasons
On May 26, 2021, the Company signed an Equity Transfer Agreement (the “ETA”) with Y-C Hongkong Holding Co., Limited (“HK Holding Co”), pursuant to which the Company will purchase 15% of the equity interest of Hyster-Yale Maximal from HK Holding Co for an aggregate purchase price of $25.2 million. After the closing under the ETA, which is anticipated to occur on June 1, 2022 (the “Closing Date"), 10% and 90% of the equity interest of Hyster-Yale Maximal will be owned by HK Holding Co and the Company, respectively.Under the terms of the ETA, on the Closing Date and prior to each of June 1, 2023 and June 1, 2024, the Company will pay $8.4 million to HK Holding Co. The closing of the transaction is subject to customary closing conditions and required regulatory approvals. There is no guarantee the closing will occur either as provided in the ETA or at all. After the closing, the Company will have an option to purchase HK Holding Co's remaining interest in Hyster-Yale Maximal at any time prior to June 8, 2056 for $16.8 million. If this option is exercised, the Company will own 100% of the equity interest of Hyster-Yale Maximal.

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