2023 Q4 Form 10-K Financial Statement

#000117351424000014 Filed on February 27, 2024

View on sec.gov

Income Statement

Concept 2023 Q4 2023
Revenue $1.027B $4.118B
YoY Change 4.26% 16.06%
Cost Of Revenue $817.5M $3.333B
YoY Change -2.5% 7.01%
Gross Profit $209.7M $785.6M
YoY Change 42.94% 81.06%
Gross Profit Margin 20.41% 19.08%
Selling, General & Admin $161.0M $576.9M
YoY Change 26.87% 21.97%
% of Gross Profit 76.78% 73.43%
Research & Development $119.7M
YoY Change 18.87%
% of Gross Profit 15.24%
Depreciation & Amortization $11.30M $45.10M
YoY Change 8.65% 3.92%
% of Gross Profit 5.39% 5.74%
Operating Expenses $161.0M $576.9M
YoY Change 26.87% 21.97%
Operating Profit $48.70M $208.7M
YoY Change 145.96% -633.76%
Interest Expense -$7.100M $37.30M
YoY Change -13.41% 31.34%
% of Operating Profit -14.58% 17.87%
Other Income/Expense, Net $100.0K -$27.70M
YoY Change -93.33% 18.88%
Pretax Income $41.70M $181.0M
YoY Change 218.32% -390.06%
Income Tax $16.00M $52.90M
% Of Pretax Income 38.37% 29.23%
Net Earnings $25.20M $125.9M
YoY Change 231.58% -269.91%
Net Earnings / Revenue 2.45% 3.06%
Basic Earnings Per Share $7.35
Diluted Earnings Per Share $1.43 $7.24
COMMON SHARES
Basic Shares Outstanding 17.14M shares
Diluted Shares Outstanding 17.39M shares

Balance Sheet

Concept 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $78.80M $78.80M
YoY Change 33.56% 33.56%
Cash & Equivalents $78.80M $78.80M
Short-Term Investments
Other Short-Term Assets $98.10M $98.10M
YoY Change 28.07% 28.07%
Inventory $815.7M $815.7M
Prepaid Expenses
Receivables $497.5M $497.5M
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.490B $1.490B
YoY Change 2.15% 2.15%
LONG-TERM ASSETS
Property, Plant & Equipment $313.9M $389.0M
YoY Change 1.26% 5.94%
Goodwill $53.30M
YoY Change 3.9%
Intangibles $39.30M
YoY Change -7.96%
Long-Term Investments $56.80M $56.80M
YoY Change -4.38% -4.38%
Other Assets $122.7M $50.60M
YoY Change 20.89% 7.89%
Total Long-Term Assets $589.0M $589.0M
YoY Change 3.79% 3.79%
TOTAL ASSETS
Total Short-Term Assets $1.490B $1.490B
Total Long-Term Assets $589.0M $589.0M
Total Assets $2.079B $2.079B
YoY Change 2.61% 2.61%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $523.5M $530.2M
YoY Change -10.64% -12.71%
Accrued Expenses $87.40M $103.3M
YoY Change 35.71% 31.09%
Deferred Revenue
YoY Change
Short-Term Debt $83.30M $83.30M
YoY Change -39.24% -39.24%
Long-Term Debt Due $169.4M $169.4M
YoY Change 13.84% 13.84%
Total Short-Term Liabilities $1.219B $1.219B
YoY Change -9.26% -9.26%
LONG-TERM LIABILITIES
Long-Term Debt $241.3M $241.3M
YoY Change -9.63% -9.63%
Other Long-Term Liabilities $143.4M $199.7M
YoY Change 3.84% 12.32%
Total Long-Term Liabilities $143.4M $441.0M
YoY Change 3.84% -0.85%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.219B $1.219B
Total Long-Term Liabilities $143.4M $441.0M
Total Liabilities $1.672B $1.689B
YoY Change -7.15% -7.28%
SHAREHOLDERS EQUITY
Retained Earnings $256.3M
YoY Change 67.85%
Common Stock $327.7M
YoY Change 10.08%
Preferred Stock
YoY Change
Treasury Stock (at cost) $0.00
YoY Change
Treasury Stock Shares
Shareholders Equity $389.9M $389.9M
YoY Change
Total Liabilities & Shareholders Equity $2.079B $2.079B
YoY Change 2.61% 2.61%

Cashflow Statement

Concept 2023 Q4 2023
OPERATING ACTIVITIES
Net Income $25.20M $125.9M
YoY Change 231.58% -269.91%
Depreciation, Depletion And Amortization $11.30M $45.10M
YoY Change 8.65% 3.92%
Cash From Operating Activities $45.60M $150.7M
YoY Change 623.81% 271.18%
INVESTING ACTIVITIES
Capital Expenditures $16.50M $35.40M
YoY Change 81.32% 22.92%
Acquisitions
YoY Change
Other Investing Activities $1.800M $900.0K
YoY Change 100.0% -113.64%
Cash From Investing Activities -$14.70M -$34.50M
YoY Change 79.27% -2.54%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $161.1M
YoY Change 65.06%
Cash From Financing Activities -31.40M -$100.5M
YoY Change 248.89% 822.02%
NET CHANGE
Cash From Operating Activities 45.60M $150.7M
Cash From Investing Activities -14.70M -$34.50M
Cash From Financing Activities -31.40M -$100.5M
Net Change In Cash -500.0K $19.80M
YoY Change -95.41% -404.62%
FREE CASH FLOW
Cash From Operating Activities $45.60M $150.7M
Capital Expenditures $16.50M $35.40M
Free Cash Flow $29.10M $115.3M
YoY Change -1139.29% 877.12%

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CY2021 us-gaap Proceeds From Sale Of Property Plant And Equipment
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CY2023 us-gaap Proceeds From Sales Of Business Affiliate And Productive Assets
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CY2022 us-gaap Proceeds From Sales Of Business Affiliate And Productive Assets
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CY2021 us-gaap Proceeds From Sales Of Business Affiliate And Productive Assets
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CY2023 us-gaap Proceeds From Sale Of Equity Securities Fv Ni
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CY2022 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
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CY2021 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
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CY2023 us-gaap Net Cash Provided By Used In Investing Activities
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CY2022 us-gaap Net Cash Provided By Used In Investing Activities
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CY2021 us-gaap Net Cash Provided By Used In Investing Activities
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CY2023 us-gaap Proceeds From Issuance Of Long Term Debt
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CY2022 us-gaap Proceeds From Issuance Of Long Term Debt
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CY2021 us-gaap Proceeds From Issuance Of Long Term Debt
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CY2022 us-gaap Repayments Of Long Term Debt
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CY2021 us-gaap Repayments Of Long Term Debt
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CY2023 us-gaap Line Of Credit Facility Increase Decrease For Period Net
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53700000 usd
CY2022 us-gaap Line Of Credit Facility Increase Decrease For Period Net
LineOfCreditFacilityIncreaseDecreaseForPeriodNet
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CY2021 us-gaap Line Of Credit Facility Increase Decrease For Period Net
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CY2022 us-gaap Proceeds From Sales Of Business Affiliate And Productive Assets
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CY2022 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
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CY2021 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
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CY2022 us-gaap Net Cash Provided By Used In Investing Activities
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CY2021 us-gaap Net Cash Provided By Used In Investing Activities
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CY2023 us-gaap Proceeds From Issuance Of Long Term Debt
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CY2022 us-gaap Proceeds From Issuance Of Long Term Debt
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CY2022 us-gaap Repayments Of Long Term Debt
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CY2021 us-gaap Repayments Of Long Term Debt
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CY2023 us-gaap Line Of Credit Facility Increase Decrease For Period Net
LineOfCreditFacilityIncreaseDecreaseForPeriodNet
53700000 usd
CY2022 us-gaap Line Of Credit Facility Increase Decrease For Period Net
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CY2021 us-gaap Line Of Credit Facility Increase Decrease For Period Net
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CY2023 us-gaap Payments Of Dividends Common Stock
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CY2022 us-gaap Payments Of Dividends Common Stock
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CY2021 us-gaap Payments Of Dividends Common Stock
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CY2023 us-gaap Payments Of Dividends Minority Interest
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CY2021 us-gaap Payments Of Dividends Minority Interest
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CY2022 us-gaap Payments Of Financing Costs
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CY2021 us-gaap Payments Of Financing Costs
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CY2022 us-gaap Proceeds From Payments For Other Financing Activities
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CY2021 us-gaap Proceeds From Payments For Other Financing Activities
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CY2021 us-gaap Net Cash Provided By Used In Financing Activities
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CY2022 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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CY2021 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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59000000.0 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
65500000 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
59000000.0 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
65500000 usd
CY2022 us-gaap Minority Interest Decrease From Redemptions
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CY2023 us-gaap Treasury Stock Value Acquired Cost Method
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CY2022 hy Service Parts As Percentage Of Revenue
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CY2021 hy Service Parts As Percentage Of Revenue
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CY2023 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
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CY2022 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
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CY2021 us-gaap Payments Of Dividends Common Stock
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CY2023 us-gaap Payments Of Dividends Minority Interest
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CY2022 us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
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CY2021 us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
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CY2023 us-gaap Payments Of Financing Costs
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CY2022 us-gaap Payments Of Financing Costs
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CY2021 us-gaap Payments Of Financing Costs
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CY2023 us-gaap Proceeds From Payments For Other Financing Activities
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CY2022 us-gaap Proceeds From Payments For Other Financing Activities
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CY2021 us-gaap Proceeds From Payments For Other Financing Activities
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CY2023 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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CY2023 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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4100000 usd
CY2022 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
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CY2021 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
19800000 usd
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
59000000.0 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
65500000 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
151400000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
78800000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
59000000.0 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
65500000 usd
CY2023 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
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CY2023 hy Noncontrolling Interest Decrease From Sale
NoncontrollingInterestDecreaseFromSale
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CY2023 hy Service Parts As Percentage Of Revenue
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CY2022 hy Service Parts As Percentage Of Revenue
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CY2021 hy Service Parts As Percentage Of Revenue
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CY2023 us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-top:5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Use of Estimates:</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">  The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and judgments. These estimates and judgments affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities (if any) at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</span></div>
CY2023 us-gaap Advertising Expense
AdvertisingExpense
10600000 usd
CY2022 us-gaap Advertising Expense
AdvertisingExpense
8600000 usd
CY2021 us-gaap Advertising Expense
AdvertisingExpense
9000000 usd
CY2023 us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-top:5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Use of Estimates:</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">  The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and judgments. These estimates and judgments affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities (if any) at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</span></div>
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
11200000 usd
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
10300000 usd
CY2023 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
5200000 usd
CY2022 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
3100000 usd
CY2023 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
2500000 usd
CY2022 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
500000 usd
CY2023 us-gaap Allowance For Doubtful Accounts Receivable Recoveries
AllowanceForDoubtfulAccountsReceivableRecoveries
1000000.0 usd
CY2022 us-gaap Allowance For Doubtful Accounts Receivable Recoveries
AllowanceForDoubtfulAccountsReceivableRecoveries
1000000.0 usd
CY2023 us-gaap Allowance For Doubtful Accounts Receivable Period Increase Decrease
AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease
300000 usd
CY2022 us-gaap Allowance For Doubtful Accounts Receivable Period Increase Decrease
AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease
-700000 usd
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
13200000 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
11200000 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
11200000 usd
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
10300000 usd
CY2023 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
5200000 usd
CY2022 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
3100000 usd
CY2023 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
2500000 usd
CY2022 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
500000 usd
CY2023 us-gaap Allowance For Doubtful Accounts Receivable Recoveries
AllowanceForDoubtfulAccountsReceivableRecoveries
1000000.0 usd
CY2022 us-gaap Allowance For Doubtful Accounts Receivable Recoveries
AllowanceForDoubtfulAccountsReceivableRecoveries
1000000.0 usd
CY2023 us-gaap Allowance For Doubtful Accounts Receivable Period Increase Decrease
AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease
300000 usd
CY2022 us-gaap Allowance For Doubtful Accounts Receivable Period Increase Decrease
AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease
-700000 usd
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
13200000 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
11200000 usd
CY2023 us-gaap Advertising Expense
AdvertisingExpense
10600000 usd
CY2022 us-gaap Advertising Expense
AdvertisingExpense
8600000 usd
CY2021 us-gaap Advertising Expense
AdvertisingExpense
9000000 usd
CY2023 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
119700000 usd
CY2022 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
100700000 usd
CY2021 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
108300000 usd
CY2021 us-gaap Revenues
Revenues
3075700000 usd
CY2023 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.
CY2023 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
119700000 usd
CY2022 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
100700000 usd
CY2021 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
108300000 usd
CY2023 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 15 for further information on product warranties.
CY2023 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.
CY2023 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.
CY2023 us-gaap Revenues
Revenues
4118300000 usd
CY2022 us-gaap Revenues
Revenues
3548300000 usd
CY2023 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 15 for further information on product warranties.
CY2023 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.
CY2023 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.
CY2023 us-gaap Revenues
Revenues
4118300000 usd
CY2022 us-gaap Revenues
Revenues
3548300000 usd
CY2021 us-gaap Revenues
Revenues
3075700000 usd
CY2023 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.
CY2023 hy Deferred Revenue Description606
DeferredRevenueDescription606
The Company defers revenue for transactions that have not met the criteria for recognition at the time payment is collected, including extended warranties and maintenance contracts. In addition, for certain products, services and customer types, the Company collects payment prior to the transfer of control to the customer.
CY2022Q4 us-gaap Deferred Revenue
DeferredRevenue
153800000 usd
CY2021Q4 us-gaap Deferred Revenue
DeferredRevenue
76200000 usd
CY2023 us-gaap Deferred Revenue Additions
DeferredRevenueAdditions
62400000 usd
CY2022 us-gaap Deferred Revenue Additions
DeferredRevenueAdditions
158500000 usd
CY2023 us-gaap Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
123800000 usd
CY2023 us-gaap Deferred Revenue Period Increase Decrease
DeferredRevenuePeriodIncreaseDecrease
100000 usd
CY2022 us-gaap Deferred Revenue Period Increase Decrease
DeferredRevenuePeriodIncreaseDecrease
0 usd
CY2023Q4 us-gaap Deferred Revenue
DeferredRevenue
92500000 usd
CY2022Q4 us-gaap Deferred Revenue
DeferredRevenue
153800000 usd
CY2023 us-gaap Revenues
Revenues
4118300000 usd
CY2022 us-gaap Revenues
Revenues
3548300000 usd
CY2021 us-gaap Revenues
Revenues
3075700000 usd
CY2023 us-gaap Operating Income Loss
OperatingIncomeLoss
208700000 usd
CY2022 us-gaap Operating Income Loss
OperatingIncomeLoss
-39100000 usd
CY2021 us-gaap Operating Income Loss
OperatingIncomeLoss
-152300000 usd
CY2023Q4 us-gaap Assets
Assets
2079100000 usd
CY2022Q4 us-gaap Assets
Assets
2026200000 usd
CY2021Q4 us-gaap Assets
Assets
1970100000 usd
CY2023 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
45100000 usd
CY2022 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
43400000 usd
CY2022 us-gaap Segment Expenditure Addition To Long Lived Assets
SegmentExpenditureAdditionToLongLivedAssets
28800000 usd
CY2021 us-gaap Segment Expenditure Addition To Long Lived Assets
SegmentExpenditureAdditionToLongLivedAssets
44300000 usd
CY2023 us-gaap Entity Wide Disclosure On Geographic Areas Description Of Revenue From External Customers
EntityWideDisclosureOnGeographicAreasDescriptionOfRevenueFromExternalCustomers
No single country outside of the United States comprised 10% or more of revenues from unaffiliated customers. The “Other” category below includes Canada, Mexico, South America and the Asia and Pacific regions.
CY2023 us-gaap Segment Reporting Disclosure Of Major Customers
SegmentReportingDisclosureOfMajorCustomers
In addition, no single customer comprised 10% or more of revenues from unaffiliated customers.
CY2023 us-gaap Revenues
Revenues
4118300000 usd
CY2023 hy Deferred Revenue Description606
DeferredRevenueDescription606
The Company defers revenue for transactions that have not met the criteria for recognition at the time payment is collected, including extended warranties and maintenance contracts. In addition, for certain products, services and customer types, the Company collects payment prior to the transfer of control to the customer.
CY2022Q4 us-gaap Deferred Revenue
DeferredRevenue
153800000 usd
CY2021Q4 us-gaap Deferred Revenue
DeferredRevenue
76200000 usd
CY2023 us-gaap Deferred Revenue Additions
DeferredRevenueAdditions
62400000 usd
CY2022 us-gaap Deferred Revenue Additions
DeferredRevenueAdditions
158500000 usd
CY2023 us-gaap Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
123800000 usd
CY2022 us-gaap Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
80900000 usd
CY2023 us-gaap Deferred Revenue Period Increase Decrease
DeferredRevenuePeriodIncreaseDecrease
100000 usd
CY2022 us-gaap Deferred Revenue Period Increase Decrease
DeferredRevenuePeriodIncreaseDecrease
0 usd
CY2023Q4 us-gaap Deferred Revenue
DeferredRevenue
92500000 usd
CY2022 us-gaap Revenues
Revenues
3548300000 usd
CY2021 us-gaap Revenues
Revenues
3075700000 usd
CY2023 us-gaap Operating Income Loss
OperatingIncomeLoss
208700000 usd
CY2022 us-gaap Operating Income Loss
OperatingIncomeLoss
-39100000 usd
CY2021 us-gaap Operating Income Loss
OperatingIncomeLoss
-152300000 usd
CY2023Q4 us-gaap Assets
Assets
2079100000 usd
CY2022Q4 us-gaap Assets
Assets
2026200000 usd
CY2021Q4 us-gaap Assets
Assets
1970100000 usd
CY2023 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
45100000 usd
CY2022 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
43400000 usd
CY2021 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
46200000 usd
CY2023 us-gaap Segment Expenditure Addition To Long Lived Assets
SegmentExpenditureAdditionToLongLivedAssets
35400000 usd
CY2022 us-gaap Segment Expenditure Addition To Long Lived Assets
SegmentExpenditureAdditionToLongLivedAssets
28800000 usd
CY2021 us-gaap Segment Expenditure Addition To Long Lived Assets
SegmentExpenditureAdditionToLongLivedAssets
44300000 usd
CY2023 us-gaap Entity Wide Disclosure On Geographic Areas Description Of Revenue From External Customers
EntityWideDisclosureOnGeographicAreasDescriptionOfRevenueFromExternalCustomers
No single country outside of the United States comprised 10% or more of revenues from unaffiliated customers. The “Other” category below includes Canada, Mexico, South America and the Asia and Pacific regions.
CY2023 us-gaap Segment Reporting Disclosure Of Major Customers
SegmentReportingDisclosureOfMajorCustomers
In addition, no single customer comprised 10% or more of revenues from unaffiliated customers.
CY2023 us-gaap Revenues
Revenues
4118300000 usd
CY2023Q4 us-gaap Noncurrent Assets
NoncurrentAssets
370700000 usd
CY2022 us-gaap Revenues
Revenues
3548300000 usd
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
-7000000.0 usd
CY2022 us-gaap Revenues
Revenues
3548300000 usd
CY2022Q4 us-gaap Noncurrent Assets
NoncurrentAssets
369400000 usd
CY2021 us-gaap Revenues
Revenues
3075700000 usd
CY2021Q4 us-gaap Noncurrent Assets
NoncurrentAssets
402200000 usd
CY2023Q4 us-gaap Treasury Stock Common Shares
TreasuryStockCommonShares
0 shares
CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17137000 shares
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16901000 shares
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16818000 shares
CY2023 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
248000 shares
CY2022 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2021 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2023 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
17385000 shares
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
16901000 shares
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
16818000 shares
CY2023 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
7.35
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-4.38
CY2023 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
7.24
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-4.38
CY2021 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-10.29
CY2023 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
1.2975
CY2022 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
1.2900
CY2021 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
1.2850
CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
223000 shares
CY2021 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
74000.000 shares
CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
114100000 usd
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-40100000 usd
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-147900000 usd
CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
66900000 usd
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
-22300000 usd
CY2022Q4 us-gaap Noncurrent Assets
NoncurrentAssets
369400000 usd
CY2021 us-gaap Revenues
Revenues
3075700000 usd
CY2021Q4 us-gaap Noncurrent Assets
NoncurrentAssets
402200000 usd
CY2023Q4 us-gaap Treasury Stock Common Shares
TreasuryStockCommonShares
0 shares
CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17137000 shares
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16901000 shares
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16818000 shares
CY2023 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
248000 shares
CY2022 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2021 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2023 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
17385000 shares
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
16818000 shares
CY2023 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
7.35
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-4.38
CY2021 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-10.29
CY2023 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
7.24
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-4.38
CY2021 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-10.29
CY2023 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
1.2975
CY2022 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
1.2900
CY2021 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
1.2850
CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
223000 shares
CY2021 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
74000.000 shares
CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
181000000.0 usd
CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
114100000 usd
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-40100000 usd
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-147900000 usd
CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
66900000 usd
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
-22300000 usd
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
-7000000.0 usd
CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
181000000.0 usd
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-62400000 usd
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-154900000 usd
CY2023 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
32000000.0 usd
CY2022 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
600000 usd
CY2021 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
-1200000 usd
CY2023 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
8000000.0 usd
CY2022 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
500000 usd
CY2021 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
1100000 usd
CY2023 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
14000000.0 usd
CY2022 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
8200000 usd
CY2021 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
8600000 usd
CY2023 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
54000000.0 usd
CY2022 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
9300000 usd
CY2021 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
8500000 usd
CY2023 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
600000 usd
CY2022 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
1900000 usd
CY2023 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
0 usd
CY2022 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
300000 usd
CY2021 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
3800000 usd
CY2023 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
-1700000 usd
CY2022 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
-2300000 usd
CY2021 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
1900000 usd
CY2023 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-1100000 usd
CY2022 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-100000 usd
CY2021 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
19800000 usd
CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
52900000 usd
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
9200000 usd
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
28300000 usd
CY2023 us-gaap Income Taxes Paid
IncomeTaxesPaid
53200000 usd
CY2022 us-gaap Income Taxes Paid
IncomeTaxesPaid
13100000 usd
CY2021 us-gaap Income Taxes Paid
IncomeTaxesPaid
11700000 usd
CY2023 us-gaap Proceeds From Income Tax Refunds
ProceedsFromIncomeTaxRefunds
300000 usd
CY2022 us-gaap Proceeds From Income Tax Refunds
ProceedsFromIncomeTaxRefunds
2300000 usd
CY2021 us-gaap Proceeds From Income Tax Refunds
ProceedsFromIncomeTaxRefunds
300000 usd
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2021 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
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CY2021 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
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UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
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CY2022 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
3100000 usd
CY2021 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
4300000 usd
CY2021 us-gaap Unrecognized Tax Benefits Decreases Resulting From Foreign Currency Translation
UnrecognizedTaxBenefitsDecreasesResultingFromForeignCurrencyTranslation
200000 usd
CY2022Q4 us-gaap Derivative Instruments In Hedges Assets At Fair Value
DerivativeInstrumentsInHedgesAssetsAtFairValue
20400000 usd
CY2023Q4 us-gaap Derivative Instruments In Hedges Liabilities At Fair Value
DerivativeInstrumentsInHedgesLiabilitiesAtFairValue
24500000 usd
CY2022Q4 us-gaap Derivative Instruments In Hedges Liabilities At Fair Value
DerivativeInstrumentsInHedgesLiabilitiesAtFairValue
49700000 usd
CY2023Q4 us-gaap Derivative Instruments Not Designated As Hedging Instruments Asset At Fair Value
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsAssetAtFairValue
3400000 usd
CY2022Q4 us-gaap Derivative Instruments Not Designated As Hedging Instruments Asset At Fair Value
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsAssetAtFairValue
4900000 usd
CY2023Q4 us-gaap Derivative Instruments Not Designated As Hedging Instruments Liability At Fair Value
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsLiabilityAtFairValue
2200000 usd
CY2023Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards
DeferredTaxAssetsTaxCreditCarryforwards
35600000 usd
CY2023Q4 us-gaap Tax Credit Carryforward Valuation Allowance
TaxCreditCarryforwardValuationAllowance
34700000 usd
CY2022Q4 us-gaap Deferred Tax Asset Interest Carryforward
DeferredTaxAssetInterestCarryforward
5700000 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
1300000 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards
DeferredTaxAssetsTaxCreditCarryforwards
62500000 usd
CY2022Q4 us-gaap Tax Credit Carryforward Valuation Allowance
TaxCreditCarryforwardValuationAllowance
61500000 usd
CY2023 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
4900000 usd
CY2022 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
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CY2023 hy Valuation Allowance Deferred Tax Asset Change In Amount Tax Expense
ValuationAllowanceDeferredTaxAssetChangeInAmountTaxExpense
12100000 usd
CY2022 hy Valuation Allowance Deferred Tax Asset Change In Amount Tax Expense
ValuationAllowanceDeferredTaxAssetChangeInAmountTaxExpense
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CY2023 hy Valuation Allowance Deferred Tax Asset Change In Amount Oci
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7200000 usd
CY2022 hy Valuation Allowance Deferred Tax Asset Change In Amount Oci
ValuationAllowanceDeferredTaxAssetChangeInAmountOCI
100000 usd
CY2023Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
3800000 usd
CY2022Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
5400000 usd
CY2021Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
8200000 usd
CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
5400000 usd
CY2021Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
8200000 usd
CY2023 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
400000 usd
CY2022 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
400000 usd
CY2021 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
700000 usd
CY2023 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
100000 usd
CY2022 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
200000 usd
CY2021 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
1200000 usd
CY2023 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
1900000 usd
CY2022 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
3100000 usd
CY2021 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
4300000 usd
CY2023 us-gaap Unrecognized Tax Benefits Increases Resulting From Foreign Currency Translation
UnrecognizedTaxBenefitsIncreasesResultingFromForeignCurrencyTranslation
0 usd
CY2022 us-gaap Unrecognized Tax Benefits Decreases Resulting From Foreign Currency Translation
UnrecognizedTaxBenefitsDecreasesResultingFromForeignCurrencyTranslation
300000 usd
CY2021 us-gaap Unrecognized Tax Benefits Decreases Resulting From Foreign Currency Translation
UnrecognizedTaxBenefitsDecreasesResultingFromForeignCurrencyTranslation
200000 usd
CY2023Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
3800000 usd
CY2023Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
3800000 usd
CY2023 hy Interestand Penaltiesfor Unrecognized Tax Benefits Period Increase Decrease
InterestandPenaltiesforUnrecognizedTaxBenefitsPeriodIncreaseDecrease
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CY2022 hy Interestand Penaltiesfor Unrecognized Tax Benefits Period Increase Decrease
InterestandPenaltiesforUnrecognizedTaxBenefitsPeriodIncreaseDecrease
-2200000 usd
CY2021 hy Interestand Penaltiesfor Unrecognized Tax Benefits Period Increase Decrease
InterestandPenaltiesforUnrecognizedTaxBenefitsPeriodIncreaseDecrease
-2100000 usd
CY2022 us-gaap Unrecognized Tax Benefits Decreases Resulting From Foreign Currency Translation
UnrecognizedTaxBenefitsDecreasesResultingFromForeignCurrencyTranslation
300000 usd
CY2021 us-gaap Unrecognized Tax Benefits Increases Resulting From Foreign Currency Translation
UnrecognizedTaxBenefitsIncreasesResultingFromForeignCurrencyTranslation
200000 usd
CY2023Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
900000 usd
CY2022Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
2300000 usd
CY2021Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
4800000 usd
CY2023 us-gaap Income Tax Examination Description
IncomeTaxExaminationDescription
In general, the Company operates in taxing jurisdictions that provide a statute of limitations period ranging from three to five years for the taxing authorities to review the applicable tax filings. The examination of U.S. federal tax returns for all years prior to 2020 have been settled with the Internal Revenue Service or otherwise have essentially closed under the applicable statute of limitations. However, the Company has filed a protective claim for 2017 in order to preserve its right to a future refund pending the favorable resolution of a U.S. Supreme Court decision. The Company is routinely under examination in various state and non-U.S. jurisdictions and in most cases the statute of limitations has not been extended. The Company believes these examinations are routine in nature and are not expected to result in any material tax assessments.
CY2023Q4 us-gaap Long Term Debt
LongTermDebt
466700000 usd
CY2023Q4 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
464000000 usd
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
523300000 usd
CY2022Q4 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
501100000 usd
CY2023 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 SOFR. 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 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
CY2023Q4 us-gaap Interest Rate Cash Flow Hedge Gain Loss To Be Reclassified During Next12 Months Net
InterestRateCashFlowHedgeGainLossToBeReclassifiedDuringNext12MonthsNet
6000000 usd
CY2023Q4 us-gaap Derivative Instruments In Hedges Assets At Fair Value
DerivativeInstrumentsInHedgesAssetsAtFairValue
23000000.0 usd
CY2022Q4 us-gaap Derivative Instruments In Hedges Assets At Fair Value
DerivativeInstrumentsInHedgesAssetsAtFairValue
20400000 usd
CY2023Q4 us-gaap Derivative Instruments In Hedges Liabilities At Fair Value
DerivativeInstrumentsInHedgesLiabilitiesAtFairValue
24500000 usd
CY2022Q4 us-gaap Derivative Instruments In Hedges Liabilities At Fair Value
DerivativeInstrumentsInHedgesLiabilitiesAtFairValue
49700000 usd
CY2023Q4 us-gaap Derivative Instruments Not Designated As Hedging Instruments Asset At Fair Value
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsAssetAtFairValue
3400000 usd
CY2022Q4 us-gaap Derivative Instruments Not Designated As Hedging Instruments Asset At Fair Value
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsAssetAtFairValue
4900000 usd
CY2023Q4 us-gaap Derivative Instruments Not Designated As Hedging Instruments Liability At Fair Value
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsLiabilityAtFairValue
2200000 usd
CY2023 hy Interestand Penaltiesfor Unrecognized Tax Benefits Period Increase Decrease
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-1400000 usd
CY2022 hy Interestand Penaltiesfor Unrecognized Tax Benefits Period Increase Decrease
InterestandPenaltiesforUnrecognizedTaxBenefitsPeriodIncreaseDecrease
-2200000 usd
CY2021 hy Interestand Penaltiesfor Unrecognized Tax Benefits Period Increase Decrease
InterestandPenaltiesforUnrecognizedTaxBenefitsPeriodIncreaseDecrease
-2100000 usd
CY2022 us-gaap Unrecognized Tax Benefits Decreases Resulting From Foreign Currency Translation
UnrecognizedTaxBenefitsDecreasesResultingFromForeignCurrencyTranslation
300000 usd
CY2021 us-gaap Unrecognized Tax Benefits Increases Resulting From Foreign Currency Translation
UnrecognizedTaxBenefitsIncreasesResultingFromForeignCurrencyTranslation
200000 usd
CY2023Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
900000 usd
CY2022Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
2300000 usd
CY2021Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
4800000 usd
CY2023 us-gaap Income Tax Examination Description
IncomeTaxExaminationDescription
In general, the Company operates in taxing jurisdictions that provide a statute of limitations period ranging from three to five years for the taxing authorities to review the applicable tax filings. The examination of U.S. federal tax returns for all years prior to 2020 have been settled with the Internal Revenue Service or otherwise have essentially closed under the applicable statute of limitations. However, the Company has filed a protective claim for 2017 in order to preserve its right to a future refund pending the favorable resolution of a U.S. Supreme Court decision. The Company is routinely under examination in various state and non-U.S. jurisdictions and in most cases the statute of limitations has not been extended. The Company believes these examinations are routine in nature and are not expected to result in any material tax assessments.
CY2023Q4 us-gaap Long Term Debt
LongTermDebt
466700000 usd
CY2023Q4 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
464000000 usd
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
523300000 usd
CY2022Q4 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
501100000 usd
CY2023 us-gaap Discussion Of Objectives For Using Foreign Currency Derivative Instruments
DiscussionOfObjectivesForUsingForeignCurrencyDerivativeInstruments
The Company uses forward foreign currency exchange contracts to partially reduce risks related to transactions denominated in foreign currencies. These contracts hedge firm commitments and forecasted transactions relating to cash flows associated with sales and purchases denominated in non-functional currencies. The Company offsets fair value amounts related to foreign currency exchange contracts executed with the same counterparty. Changes in the fair value of forward foreign currency exchange contracts that are effective as hedges are recorded in OCI. Deferred gains or losses are reclassified from OCI to the Consolidated Statements of Operations in the same period as the gains or losses from the underlying transactions are recorded and are generally recognized in cost of sales.
CY2023 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 SOFR. 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 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
CY2023Q4 us-gaap Interest Rate Cash Flow Hedge Gain Loss To Be Reclassified During Next12 Months Net
InterestRateCashFlowHedgeGainLossToBeReclassifiedDuringNext12MonthsNet
6000000 usd
CY2023Q4 us-gaap Derivative Instruments In Hedges Assets At Fair Value
DerivativeInstrumentsInHedgesAssetsAtFairValue
23000000.0 usd
CY2022Q4 us-gaap Derivative Instruments Not Designated As Hedging Instruments Liability At Fair Value
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsLiabilityAtFairValue
3000000.0 usd
CY2023 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
33500000 usd
CY2022 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
21000000 usd
CY2023Q4 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
26400000 usd
CY2022Q4 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
25300000 usd
CY2023Q4 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
26700000 usd
CY2022Q4 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
52700000 usd
CY2023 us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
-4300000 usd
CY2022 us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
-32500000 usd
CY2021 us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
-6900000 usd
CY2022Q4 us-gaap Defined Benefit Plan Amounts Recognized In Balance Sheet
DefinedBenefitPlanAmountsRecognizedInBalanceSheet
9300000 usd
CY2021 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
17100000 usd
CY2023Q4 us-gaap Percentage Of Lifo Inventory
PercentageOfLIFOInventory
0.49
CY2022Q4 us-gaap Percentage Of Lifo Inventory
PercentageOfLIFOInventory
0.52
CY2022 us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
-3500000 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
313900000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
310000000.0 usd
CY2023 us-gaap Depreciation
Depreciation
40800000 usd
CY2023Q4 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
26400000 usd
CY2023Q4 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
26700000 usd
CY2022Q4 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
52700000 usd
CY2023 us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
-4300000 usd
CY2022 us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
-32500000 usd
CY2021 us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
-6900000 usd
CY2022Q4 us-gaap Defined Benefit Plan Amounts Recognized In Balance Sheet
DefinedBenefitPlanAmountsRecognizedInBalanceSheet
9300000 usd
CY2022 us-gaap Depreciation
Depreciation
38900000 usd
CY2021 us-gaap Depreciation
Depreciation
40800000 usd
CY2023 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
33500000 usd
CY2022 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
21000000 usd
CY2021 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
17100000 usd
CY2023Q4 us-gaap Percentage Of Lifo Inventory
PercentageOfLIFOInventory
0.49
CY2022Q4 us-gaap Percentage Of Lifo Inventory
PercentageOfLIFOInventory
0.52
CY2021 us-gaap Production Related Impairments Or Charges
ProductionRelatedImpairmentsOrCharges
16100000 usd
CY2023Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
395900000 usd
CY2022Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
335800000 usd
CY2023Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
39200000 usd
CY2022Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
36000000.0 usd
CY2023Q4 us-gaap Inventory Raw Materials And Purchased Parts Net Of Reserves
InventoryRawMaterialsAndPurchasedPartsNetOfReserves
471500000 usd
CY2022Q4 us-gaap Inventory Raw Materials And Purchased Parts Net Of Reserves
InventoryRawMaterialsAndPurchasedPartsNetOfReserves
522100000 usd
CY2023Q4 us-gaap Fifo Inventory Amount
FIFOInventoryAmount
906600000 usd
CY2022Q4 us-gaap Fifo Inventory Amount
FIFOInventoryAmount
893900000 usd
CY2023Q4 us-gaap Inventory Lifo Reserve
InventoryLIFOReserve
90900000 usd
CY2022Q4 us-gaap Inventory Lifo Reserve
InventoryLIFOReserve
94400000 usd
CY2023Q4 us-gaap Inventory Net
InventoryNet
815700000 usd
CY2022Q4 us-gaap Inventory Net
InventoryNet
799500000 usd
CY2021Q4 us-gaap Goodwill
Goodwill
56500000 usd
CY2022 us-gaap Goodwill Other Increase Decrease
GoodwillOtherIncreaseDecrease
1700000 usd
CY2021 us-gaap Production Related Impairments Or Charges
ProductionRelatedImpairmentsOrCharges
16100000 usd
CY2023Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
395900000 usd
CY2022Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
335800000 usd
CY2023Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
39200000 usd
CY2023Q4 us-gaap Inventory Raw Materials And Purchased Parts Net Of Reserves
InventoryRawMaterialsAndPurchasedPartsNetOfReserves
471500000 usd
CY2023Q4 us-gaap Fifo Inventory Amount
FIFOInventoryAmount
906600000 usd
CY2022Q4 us-gaap Fifo Inventory Amount
FIFOInventoryAmount
893900000 usd
CY2023Q4 us-gaap Inventory Lifo Reserve
InventoryLIFOReserve
90900000 usd
CY2022Q4 us-gaap Inventory Lifo Reserve
InventoryLIFOReserve
94400000 usd
CY2023Q4 us-gaap Inventory Net
InventoryNet
815700000 usd
CY2022Q4 us-gaap Inventory Net
InventoryNet
799500000 usd
CY2021 us-gaap Property Plant And Equipment Impairment Or Disposal Disclosure
PropertyPlantAndEquipmentImpairmentOrDisposalDisclosure
In connection with the preparation of the financial statements during 2021, the Company identified indicators of impairment primarily related to the unexpected level of significant, on-going pandemic-related and other global supply chain constraints, component shortages, shipping container availability constraints and higher freight costs, as well as significant material cost inflation resulting from the accelerated pace of the market recovery, all of which had negatively impacted the Company. In addition, the effects of the COVID-19 pandemic, including border closures, halted Nuvera's progress on certain research and development agreements that were entered into prior to the start of the pandemic. In anticipation of fulfilling these agreements, Nuvera made significant investments in manufacturing and equipment expansion, as well as increased inventory levels. As a result, it was determined that carrying value of the Nuvera fixed assets exceeded the undiscounted cash flows from the assets and the carrying value of Nuvera's fixed assets exceeded the fair value by $10.0 million. The impairment charge for property, plant and equipment was recorded in "Selling, general and administrative expenses" in the Consolidated Statements of Operations. The estimated fair value of property, plant and equipment was determined using a cost approach, which is Level 3 under the fair value hierarchy. Based on the Company’s analysis, all other remaining long-lived assets with finite lives were not impaired as of December 31, 2021.
CY2023Q4 us-gaap Land And Land Improvements
LandAndLandImprovements
32200000 usd
CY2022Q4 us-gaap Land And Land Improvements
LandAndLandImprovements
32200000 usd
CY2023Q4 us-gaap Machinery And Equipment Gross
MachineryAndEquipmentGross
908300000 usd
CY2022Q4 us-gaap Machinery And Equipment Gross
MachineryAndEquipmentGross
858000000.0 usd
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
940500000 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
890200000 usd
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
626600000 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
580200000 usd
CY2021 us-gaap Property Plant And Equipment Impairment Or Disposal Disclosure
PropertyPlantAndEquipmentImpairmentOrDisposalDisclosure
In connection with the preparation of the financial statements during 2021, the Company identified indicators of impairment primarily related to the unexpected level of significant, on-going pandemic-related and other global supply chain constraints, component shortages, shipping container availability constraints and higher freight costs, as well as significant material cost inflation resulting from the accelerated pace of the market recovery, all of which had negatively impacted the Company. In addition, the effects of the COVID-19 pandemic, including border closures, halted Nuvera's progress on certain research and development agreements that were entered into prior to the start of the pandemic. In anticipation of fulfilling these agreements, Nuvera made significant investments in manufacturing and equipment expansion, as well as increased inventory levels. As a result, it was determined that carrying value of the Nuvera fixed assets exceeded the undiscounted cash flows from the assets and the carrying value of Nuvera's fixed assets exceeded the fair value by $10.0 million. The impairment charge for property, plant and equipment was recorded in "Selling, general and administrative expenses" in the Consolidated Statements of Operations. The estimated fair value of property, plant and equipment was determined using a cost approach, which is Level 3 under the fair value hierarchy. Based on the Company’s analysis, all other remaining long-lived assets with finite lives were not impaired as of December 31, 2021.
CY2023Q4 us-gaap Land And Land Improvements
LandAndLandImprovements
32200000 usd
CY2022Q4 us-gaap Land And Land Improvements
LandAndLandImprovements
32200000 usd
CY2023Q4 us-gaap Machinery And Equipment Gross
MachineryAndEquipmentGross
908300000 usd
CY2022Q4 us-gaap Machinery And Equipment Gross
MachineryAndEquipmentGross
858000000.0 usd
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
940500000 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
890200000 usd
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
626600000 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
580200000 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
313900000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
310000000.0 usd
CY2023 us-gaap Depreciation
Depreciation
40800000 usd
CY2022 us-gaap Depreciation
Depreciation
38900000 usd
CY2021 us-gaap Depreciation
Depreciation
40800000 usd
CY2021Q4 us-gaap Goodwill
Goodwill
56500000 usd
CY2022 us-gaap Goodwill Other Increase Decrease
GoodwillOtherIncreaseDecrease
1700000 usd
CY2022Q4 us-gaap Goodwill
Goodwill
51300000 usd
CY2022Q4 us-gaap Goodwill
Goodwill
51300000 usd
CY2023 us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
2000000.0 usd
CY2023Q4 us-gaap Goodwill
Goodwill
53300000 usd
CY2023 us-gaap Finitelived Intangible Assets Acquired1
FinitelivedIntangibleAssetsAcquired1
79300000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
40000000.0 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
39300000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
77600000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
34900000 usd
CY2023 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
4300000 usd
CY2022 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
4500000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
3900000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
3400000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
3100000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
2200000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
2200000 usd
CY2023Q4 us-gaap Line Of Credit
LineOfCredit
83300000 usd
CY2023Q4 us-gaap Secured Debt
SecuredDebt
216100000 usd
CY2023Q4 us-gaap Unsecured Debt
UnsecuredDebt
167300000 usd
CY2022Q4 us-gaap Unsecured Debt
UnsecuredDebt
168700000 usd
CY2023Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
27300000 usd
CY2022Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
29600000 usd
CY2023Q4 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
494000000.0 usd
CY2022Q4 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
552900000 usd
CY2023 us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
2000000.0 usd
CY2023Q4 us-gaap Goodwill
Goodwill
53300000 usd
CY2023 us-gaap Finitelived Intangible Assets Acquired1
FinitelivedIntangibleAssetsAcquired1
79300000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
40000000.0 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
39300000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
77600000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
34900000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
42700000 usd
CY2023 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
4300000 usd
CY2022 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
4500000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
3900000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
3400000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
3100000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
2200000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
2200000 usd
CY2023Q4 us-gaap Line Of Credit
LineOfCredit
83300000 usd
CY2022Q4 us-gaap Line Of Credit
LineOfCredit
137100000 usd
CY2023Q4 us-gaap Secured Debt
SecuredDebt
216100000 usd
CY2022Q4 us-gaap Secured Debt
SecuredDebt
217500000 usd
CY2023Q4 us-gaap Unsecured Debt
UnsecuredDebt
167300000 usd
CY2022Q4 us-gaap Unsecured Debt
UnsecuredDebt
168700000 usd
CY2023Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
27300000 usd
CY2022Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
29600000 usd
CY2023Q4 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
494000000.0 usd
CY2022Q4 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
552900000 usd
CY2023Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
497300000 usd
CY2022Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
557000000.0 usd
CY2023Q4 us-gaap Debt Current
DebtCurrent
252700000 usd
CY2023Q4 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
241300000 usd
CY2022Q4 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
267000000.0 usd
CY2023Q4 us-gaap Line Of Credit Facility Current Borrowing Capacity
LineOfCreditFacilityCurrentBorrowingCapacity
353000000.0 usd
CY2022Q4 us-gaap Line Of Credit Facility Current Borrowing Capacity
LineOfCreditFacilityCurrentBorrowingCapacity
320000000.0 usd
CY2023Q4 us-gaap Line Of Credit Facility Remaining Borrowing Capacity
LineOfCreditFacilityRemainingBorrowingCapacity
269700000 usd
CY2022Q4 us-gaap Line Of Credit Facility Remaining Borrowing Capacity
LineOfCreditFacilityRemainingBorrowingCapacity
182900000 usd
CY2023Q4 hy Weighted Average Effective Interest Rate On Total Borrowings Including Interest Rate Swap Agreements
WeightedAverageEffectiveInterestRateOnTotalBorrowingsIncludingInterestRateSwapAgreements
0.068
CY2022Q4 hy Weighted Average Effective Interest Rate On Total Borrowings Including Interest Rate Swap Agreements
WeightedAverageEffectiveInterestRateOnTotalBorrowingsIncludingInterestRateSwapAgreements
0.059
CY2022Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
4100000 usd
CY2023Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
497300000 usd
CY2022Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
557000000.0 usd
CY2023Q4 us-gaap Debt Current
DebtCurrent
252700000 usd
CY2022Q4 us-gaap Debt Current
DebtCurrent
285900000 usd
CY2023Q4 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
241300000 usd
CY2022Q4 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
267000000.0 usd
CY2023Q4 us-gaap Line Of Credit Facility Current Borrowing Capacity
LineOfCreditFacilityCurrentBorrowingCapacity
353000000.0 usd
CY2022Q4 us-gaap Line Of Credit Facility Current Borrowing Capacity
LineOfCreditFacilityCurrentBorrowingCapacity
320000000.0 usd
CY2023Q4 us-gaap Line Of Credit Facility Remaining Borrowing Capacity
LineOfCreditFacilityRemainingBorrowingCapacity
269700000 usd
CY2022Q4 us-gaap Line Of Credit Facility Remaining Borrowing Capacity
LineOfCreditFacilityRemainingBorrowingCapacity
182900000 usd
CY2023Q4 hy Weighted Average Effective Interest Rate On Total Borrowings Including Interest Rate Swap Agreements
WeightedAverageEffectiveInterestRateOnTotalBorrowingsIncludingInterestRateSwapAgreements
0.068
CY2022Q4 hy Weighted Average Effective Interest Rate On Total Borrowings Including Interest Rate Swap Agreements
WeightedAverageEffectiveInterestRateOnTotalBorrowingsIncludingInterestRateSwapAgreements
0.059
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
239800000 usd
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
12200000 usd
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
4700000 usd
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
2900000 usd
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
210400000 usd
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
0 usd
CY2023Q4 hy Totalprinciplepaymentsofdebtexcludingfinanceleases
Totalprinciplepaymentsofdebtexcludingfinanceleases
470000000.0 usd
CY2023 us-gaap Interest Paid
InterestPaid
36400000 usd
CY2022 us-gaap Interest Paid
InterestPaid
26600000 usd
CY2021 us-gaap Interest Paid
InterestPaid
14500000 usd
CY2023 us-gaap Line Of Credit Facility Borrowing Capacity Description
LineOfCreditFacilityBorrowingCapacityDescription
The Facility can be increased up to $400.0 million over the term of the Facility in minimum increments of $10.0 million, subject to approval by the lenders. The obligations under the Facility are generally secured by a first priority lien on working capital assets of the borrowers and guarantors in the Facility, which includes but is not limited to cash and cash equivalents, accounts receivable and inventory, and a second priority lien on the present and future shares of capital stock, fixtures and general intangibles consisting of intellectual property.
CY2023 us-gaap Debt Instrument Payment Terms
DebtInstrumentPaymentTerms
quarterly principal payments on the last day of each March, June, September and December, which commenced September 30, 2021, in an amount equal to $562,500 and the final principal repayment is due in May 2028.
CY2023 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
800000 usd
CY2021 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
7600000 usd
CY2022 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
0 usd
CY2023Q4 us-gaap Other Borrowings
OtherBorrowings
172500000 usd
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
239800000 usd
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
12200000 usd
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
4700000 usd
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
2900000 usd
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
210400000 usd
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
0 usd
CY2023Q4 hy Totalprinciplepaymentsofdebtexcludingfinanceleases
Totalprinciplepaymentsofdebtexcludingfinanceleases
470000000.0 usd
CY2023 us-gaap Interest Paid
InterestPaid
36400000 usd
CY2022 us-gaap Interest Paid
InterestPaid
26600000 usd
CY2021 us-gaap Interest Paid
InterestPaid
14500000 usd
CY2023 us-gaap Line Of Credit Facility Borrowing Capacity Description
LineOfCreditFacilityBorrowingCapacityDescription
The Facility can be increased up to $400.0 million over the term of the Facility in minimum increments of $10.0 million, subject to approval by the lenders. The obligations under the Facility are generally secured by a first priority lien on working capital assets of the borrowers and guarantors in the Facility, which includes but is not limited to cash and cash equivalents, accounts receivable and inventory, and a second priority lien on the present and future shares of capital stock, fixtures and general intangibles consisting of intellectual property.
CY2023 us-gaap Debt Instrument Payment Terms
DebtInstrumentPaymentTerms
quarterly principal payments on the last day of each March, June, September and December, which commenced September 30, 2021, in an amount equal to $562,500 and the final principal repayment is due in May 2028.
CY2023 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
800000 usd
CY2021 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
7600000 usd
CY2022 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
0 usd
CY2023Q4 us-gaap Other Borrowings
OtherBorrowings
172500000 usd
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
75100000 usd
CY2023 us-gaap Standard Product Warranty Description
StandardProductWarrantyDescription
six to twelve months or 1,000 to 2,000 hours
CY2023 us-gaap Standard Product Warranty Description
StandardProductWarrantyDescription
six to twelve months or 1,000 to 2,000 hours
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
75100000 usd
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
57200000 usd
CY2023Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
39500000 usd
CY2022Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
37000000.0 usd
CY2023Q4 hy Total Rightof Use Asset
TotalRightofUseAsset
114600000 usd
CY2022Q4 hy Total Rightof Use Asset
TotalRightofUseAsset
94200000 usd
CY2023Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
13700000 usd
CY2022Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
12800000 usd
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
62000000.0 usd
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
45900000 usd
CY2022Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
16800000 usd
CY2023Q4 hy Total Lease Liability
TotalLeaseLiability
105200000 usd
CY2022Q4 hy Total Lease Liability
TotalLeaseLiability
89900000 usd
CY2023Q4 us-gaap Finance Lease Right Of Use Asset Accumulated Amortization
FinanceLeaseRightOfUseAssetAccumulatedAmortization
32500000 usd
CY2022Q4 us-gaap Finance Lease Right Of Use Asset Accumulated Amortization
FinanceLeaseRightOfUseAssetAccumulatedAmortization
22100000 usd
CY2023 us-gaap Capital Lease Obligations Incurred
CapitalLeaseObligationsIncurred
11100000 usd
CY2022 us-gaap Capital Lease Obligations Incurred
CapitalLeaseObligationsIncurred
12100000 usd
CY2021 us-gaap Capital Lease Obligations Incurred
CapitalLeaseObligationsIncurred
12400000 usd
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0580
CY2023Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.0248
CY2023 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
9300000 usd
CY2022 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
6800000 usd
CY2023 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
1500000 usd
CY2023 us-gaap Sublease Income
SubleaseIncome
7800000 usd
CY2022 us-gaap Sublease Income
SubleaseIncome
8700000 usd
CY2023 us-gaap Lease Cost
LeaseCost
25500000 usd
CY2022 us-gaap Lease Cost
LeaseCost
27700000 usd
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
57200000 usd
CY2023Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
39500000 usd
CY2022Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
37000000.0 usd
CY2023Q4 hy Total Rightof Use Asset
TotalRightofUseAsset
114600000 usd
CY2022Q4 hy Total Rightof Use Asset
TotalRightofUseAsset
94200000 usd
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
15900000 usd
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
14400000 usd
CY2023Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
13700000 usd
CY2022Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
12800000 usd
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
62000000.0 usd
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
45900000 usd
CY2023Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
13600000 usd
CY2022Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
16800000 usd
CY2023Q4 hy Total Lease Liability
TotalLeaseLiability
105200000 usd
CY2022Q4 hy Total Lease Liability
TotalLeaseLiability
89900000 usd
CY2023Q4 us-gaap Finance Lease Right Of Use Asset Accumulated Amortization
FinanceLeaseRightOfUseAssetAccumulatedAmortization
32500000 usd
CY2022Q4 us-gaap Finance Lease Right Of Use Asset Accumulated Amortization
FinanceLeaseRightOfUseAssetAccumulatedAmortization
22100000 usd
CY2023 us-gaap Capital Lease Obligations Incurred
CapitalLeaseObligationsIncurred
11100000 usd
CY2022 us-gaap Capital Lease Obligations Incurred
CapitalLeaseObligationsIncurred
12100000 usd
CY2021 us-gaap Capital Lease Obligations Incurred
CapitalLeaseObligationsIncurred
12400000 usd
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0580
CY2023Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.0248
CY2023 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
9300000 usd
CY2022 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
6800000 usd
CY2023 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
1500000 usd
CY2022 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
600000 usd
CY2023 us-gaap Sublease Income
SubleaseIncome
7800000 usd
CY2022 us-gaap Sublease Income
SubleaseIncome
8700000 usd
CY2023 us-gaap Lease Cost
LeaseCost
25500000 usd
CY2022 us-gaap Lease Cost
LeaseCost
27700000 usd
CY2023Q4 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
28400000 usd
CY2023 us-gaap Extended Product Warranty Description
ExtendedProductWarrantyDescription
two to five years or up to 2,400 to 10,000 hours
CY2023 us-gaap Extended Product Warranty Description
ExtendedProductWarrantyDescription
two to five years or up to 2,400 to 10,000 hours
CY2023Q4 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
28400000 usd
CY2023 us-gaap Operating Lease Payments
OperatingLeasePayments
20100000 usd
CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
22800000 usd
CY2023 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
1500000 usd
CY2022 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
600000 usd
CY2023 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
14600000 usd
CY2022 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
7000000.0 usd
CY2023 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
48100000 usd
CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
22300000 usd
CY2023 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
9600000 usd
CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
8400000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
19700000 usd
CY2023Q4 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
14800000 usd
CY2023Q4 hy Lease Liability Payments Duein Next Twelve Months
LeaseLiabilityPaymentsDueinNextTwelveMonths
34500000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
15400000 usd
CY2023Q4 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
2900000 usd
CY2023Q4 hy Lease Liability Payments Due Year Three
LeaseLiabilityPaymentsDueYearThree
16500000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
12300000 usd
CY2023Q4 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
900000 usd
CY2023Q4 hy Lease Liability Payments Due Year Four
LeaseLiabilityPaymentsDueYearFour
13200000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
9100000 usd
CY2023Q4 us-gaap Finance Lease Liability Payments Due Year Five
FinanceLeaseLiabilityPaymentsDueYearFive
200000 usd
CY2023Q4 hy Lease Liability Payments Due Year Five
LeaseLiabilityPaymentsDueYearFive
9300000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
23500000 usd
CY2023Q4 hy Lease Liability Payments Dueafter Year Five
LeaseLiabilityPaymentsDueafterYearFive
23500000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
93600000 usd
CY2023Q4 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
27600000 usd
CY2023Q4 hy Lease Liability Payments Due
LeaseLiabilityPaymentsDue
121200000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
15700000 usd
CY2023Q4 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
300000 usd
CY2023Q4 hy Lease Liability Undiscounted Excess Amount
LeaseLiabilityUndiscountedExcessAmount
16000000.0 usd
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
77900000 usd
CY2023Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
27300000 usd
CY2023 us-gaap Operating Lease Payments
OperatingLeasePayments
20100000 usd
CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
22800000 usd
CY2023 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
1500000 usd
CY2022 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
600000 usd
CY2023 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
14600000 usd
CY2022 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
7000000.0 usd
CY2023 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
48100000 usd
CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
22300000 usd
CY2023 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
9600000 usd
CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
8400000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
19700000 usd
CY2023Q4 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
14800000 usd
CY2023Q4 hy Lease Liability Payments Duein Next Twelve Months
LeaseLiabilityPaymentsDueinNextTwelveMonths
34500000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
15400000 usd
CY2023Q4 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
8800000 usd
CY2023Q4 hy Lease Liability Payments Due Year Two
LeaseLiabilityPaymentsDueYearTwo
24200000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
13600000 usd
CY2023Q4 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
2900000 usd
CY2023Q4 hy Lease Liability Payments Due Year Three
LeaseLiabilityPaymentsDueYearThree
16500000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
12300000 usd
CY2023Q4 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
900000 usd
CY2023Q4 hy Lease Liability Payments Due Year Four
LeaseLiabilityPaymentsDueYearFour
13200000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
9100000 usd
CY2023Q4 us-gaap Finance Lease Liability Payments Due Year Five
FinanceLeaseLiabilityPaymentsDueYearFive
200000 usd
CY2023Q4 hy Lease Liability Payments Due Year Five
LeaseLiabilityPaymentsDueYearFive
9300000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
23500000 usd
CY2023Q4 us-gaap Finance Lease Liability Payments Due After Year Five
FinanceLeaseLiabilityPaymentsDueAfterYearFive
0 usd
CY2023Q4 hy Lease Liability Payments Dueafter Year Five
LeaseLiabilityPaymentsDueafterYearFive
23500000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
93600000 usd
CY2023Q4 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
27600000 usd
CY2023Q4 hy Lease Liability Payments Due
LeaseLiabilityPaymentsDue
121200000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
15700000 usd
CY2023Q4 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
300000 usd
CY2023Q4 hy Lease Liability Undiscounted Excess Amount
LeaseLiabilityUndiscountedExcessAmount
16000000.0 usd
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
77900000 usd
CY2023Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
27300000 usd
CY2023Q4 hy Total Lease Liability
TotalLeaseLiability
105200000 usd
CY2022Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
56700000 usd
CY2021Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
64700000 usd
CY2023 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
45100000 usd
CY2022 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
28700000 usd
CY2023 us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
-7600000 usd
CY2022 us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
-6100000 usd
CY2023 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
26900000 usd
CY2022 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
29700000 usd
CY2023 us-gaap Standard And Extended Product Warranty Accrual Foreign Currency Translation Gain Loss
StandardAndExtendedProductWarrantyAccrualForeignCurrencyTranslationGainLoss
-800000 usd
CY2022 us-gaap Standard And Extended Product Warranty Accrual Foreign Currency Translation Gain Loss
StandardAndExtendedProductWarrantyAccrualForeignCurrencyTranslationGainLoss
900000 usd
CY2023Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
68100000 usd
CY2022Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
56700000 usd
CY2023 us-gaap Loss Contingency Disclosures
LossContingencyDisclosures
Contingencies<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Various legal and regulatory proceedings and claims have been or may be asserted against the Company relating to the conduct of its businesses, including product liability, environmental and other claims. These proceedings and claims are incidental to the ordinary course of business. Management believes that it has meritorious defenses and will vigorously defend the Company in these actions. Any costs that management estimates will be paid as a result of these claims are accrued when the liability is considered probable and the amount can be reasonably estimated. Although the ultimate disposition of these proceedings is not presently determinable, management believes, after consultation with its legal counsel, that the likelihood is remote that costs will be incurred materially in excess of accruals already recognized.</span></div>
CY2023Q4 us-gaap Guarantee Obligations Maximum Exposure
GuaranteeObligationsMaximumExposure
162400000 usd
CY2022Q4 us-gaap Guarantee Obligations Maximum Exposure
GuaranteeObligationsMaximumExposure
133200000 usd
CY2023 hy Guarantor Obligations Collateral
GuarantorObligationsCollateral
217800000 usd
CY2023 hy Percentage Of Loan Losses Guaranteed
PercentageOfLoanLossesGuaranteed
0.075
CY2023Q4 us-gaap Guarantee Obligations Maximum Exposure
GuaranteeObligationsMaximumExposure
162400000 usd
CY2023Q4 us-gaap Notes Payable Current
NotesPayableCurrent
14600000 usd
CY2023 us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
10500000 usd
CY2022 us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
15600000 usd
CY2021 us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
5500000 usd
CY2021 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
15700000 usd
CY2022 us-gaap Gain On Sale Of Investments
GainOnSaleOfInvestments
4600000 usd
CY2023 us-gaap Proceeds From Sale Of Equity Securities Fv Ni
ProceedsFromSaleOfEquitySecuritiesFvNi
1100000 usd
CY2022Q4 us-gaap Equity Securities Fvni Noncurrent
EquitySecuritiesFVNINoncurrent
500000 usd
CY2023 us-gaap Gain Loss On Investments
GainLossOnInvestments
500000 usd
CY2022 us-gaap Gain Loss On Investments
GainLossOnInvestments
-1000000.0 usd
CY2022Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
56700000 usd
CY2021Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
64700000 usd
CY2023 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
45100000 usd
CY2022 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
28700000 usd
CY2022 us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
-6100000 usd
CY2023 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
26900000 usd
CY2022 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
29700000 usd
CY2023 us-gaap Standard And Extended Product Warranty Accrual Foreign Currency Translation Gain Loss
StandardAndExtendedProductWarrantyAccrualForeignCurrencyTranslationGainLoss
-800000 usd
CY2022 us-gaap Standard And Extended Product Warranty Accrual Foreign Currency Translation Gain Loss
StandardAndExtendedProductWarrantyAccrualForeignCurrencyTranslationGainLoss
900000 usd
CY2023Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
68100000 usd
CY2022Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
56700000 usd
CY2023 us-gaap Loss Contingency Disclosures
LossContingencyDisclosures
Contingencies<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Various legal and regulatory proceedings and claims have been or may be asserted against the Company relating to the conduct of its businesses, including product liability, environmental and other claims. These proceedings and claims are incidental to the ordinary course of business. Management believes that it has meritorious defenses and will vigorously defend the Company in these actions. Any costs that management estimates will be paid as a result of these claims are accrued when the liability is considered probable and the amount can be reasonably estimated. Although the ultimate disposition of these proceedings is not presently determinable, management believes, after consultation with its legal counsel, that the likelihood is remote that costs will be incurred materially in excess of accruals already recognized.</span></div>
CY2023Q4 us-gaap Guarantee Obligations Maximum Exposure
GuaranteeObligationsMaximumExposure
162400000 usd
CY2022Q4 us-gaap Guarantee Obligations Maximum Exposure
GuaranteeObligationsMaximumExposure
133200000 usd
CY2023 hy Guarantor Obligations Collateral
GuarantorObligationsCollateral
217800000 usd
CY2023 hy Percentage Of Loan Losses Guaranteed
PercentageOfLoanLossesGuaranteed
0.075
CY2023Q4 us-gaap Guarantee Obligations Maximum Exposure
GuaranteeObligationsMaximumExposure
162400000 usd
CY2023Q4 us-gaap Guarantee Obligations Maximum Exposure
GuaranteeObligationsMaximumExposure
162400000 usd
CY2023Q4 us-gaap Notes Payable Current
NotesPayableCurrent
14600000 usd
CY2023 us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
10500000 usd
CY2022 us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
15600000 usd
CY2021 us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
5500000 usd
CY2021 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
15700000 usd
CY2022 us-gaap Gain On Sale Of Investments
GainOnSaleOfInvestments
4600000 usd
CY2023 us-gaap Proceeds From Sale Of Equity Securities Fv Ni
ProceedsFromSaleOfEquitySecuritiesFvNi
1100000 usd
CY2022Q4 us-gaap Equity Securities Fvni Noncurrent
EquitySecuritiesFVNINoncurrent
500000 usd
CY2023 us-gaap Gain Loss On Investments
GainLossOnInvestments
500000 usd
CY2022 us-gaap Gain Loss On Investments
GainLossOnInvestments
-1000000.0 usd
CY2021 us-gaap Gain Loss On Investments
GainLossOnInvestments
-200000 usd
CY2022Q4 hy Purchase Of Noncontrolling Interest Percentage
PurchaseOfNoncontrollingInterestPercentage
0.15
CY2022 hy Aggregate Payments To Acquire Additional Interest In Subsidiaries
AggregatePaymentsToAcquireAdditionalInterestInSubsidiaries
25200000 usd
CY2022 us-gaap Payments To Acquire Additional Interest In Subsidiaries
PaymentsToAcquireAdditionalInterestInSubsidiaries
8400000 usd
CY2022 hy Remaining Payments To Acquire Additional Interest In Subsidiaries
RemainingPaymentsToAcquireAdditionalInterestInSubsidiaries
16800000 usd
CY2022 us-gaap Business Combination Contingent Consideration Arrangements Change In The Range Of Outcomes Contingent Consideration Liability Reasons
BusinessCombinationContingentConsiderationArrangementsChangeInTheRangeOfOutcomesContingentConsiderationLiabilityReasons
In addition, under the provisions of the ETA, HK Holding Co maintains a put option by which the Company could be required to exercise its purchase option. As one of the factors that could trigger the put option is outside of the Company’s control, the remaining 10% purchase option is considered contingently redeemable. Accordingly, the redeemable noncontrolling interest is not considered to be a component of stockholders’ equity and instead is reported as temporary equity in the Consolidated Balance Sheets. Because the occurrence of the event that would trigger the put option is not probable of occurring, the Company will continue to attribute the 10% portion of earnings and losses, as well as any dividends declared, to the noncontrolling interest after the closing date of the ETA. As of the closing date of the ETA, the Company recorded the estimated fair value of the purchase option of $13.4 million as redeemable noncontrolling interest.
CY2021 us-gaap Gain Loss On Investments
GainLossOnInvestments
-200000 usd
CY2022Q4 hy Purchase Of Noncontrolling Interest Percentage
PurchaseOfNoncontrollingInterestPercentage
0.15
CY2022 hy Aggregate Payments To Acquire Additional Interest In Subsidiaries
AggregatePaymentsToAcquireAdditionalInterestInSubsidiaries
25200000 usd
CY2022 us-gaap Payments To Acquire Additional Interest In Subsidiaries
PaymentsToAcquireAdditionalInterestInSubsidiaries
8400000 usd
CY2022 hy Remaining Payments To Acquire Additional Interest In Subsidiaries
RemainingPaymentsToAcquireAdditionalInterestInSubsidiaries
16800000 usd
CY2022 us-gaap Business Combination Contingent Consideration Arrangements Change In The Range Of Outcomes Contingent Consideration Liability Reasons
BusinessCombinationContingentConsiderationArrangementsChangeInTheRangeOfOutcomesContingentConsiderationLiabilityReasons
In addition, under the provisions of the ETA, HK Holding Co maintains a put option by which the Company could be required to exercise its purchase option. As one of the factors that could trigger the put option is outside of the Company’s control, the remaining 10% purchase option is considered contingently redeemable. Accordingly, the redeemable noncontrolling interest is not considered to be a component of stockholders’ equity and instead is reported as temporary equity in the Consolidated Balance Sheets. Because the occurrence of the event that would trigger the put option is not probable of occurring, the Company will continue to attribute the 10% portion of earnings and losses, as well as any dividends declared, to the noncontrolling interest after the closing date of the ETA. As of the closing date of the ETA, the Company recorded the estimated fair value of the purchase option of $13.4 million as redeemable noncontrolling interest.

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