$MTW
MANITOWOC CO INC

2017 Q3 Form 10-Q Financial Statement

#000156459017022044 Filed on November 07, 2017

View on sec.gov

Income Statement

Concept 2017 Q3 2017 Q2 2016 Q4
Revenue $399.4M $394.6M $378.2M
YoY Change 14.18% -13.79% -30.36%
Cost Of Revenue $326.9M $318.3M $332.7M
YoY Change 5.79% -14.07% -26.86%
Gross Profit $72.50M $76.30M $45.50M
YoY Change 77.7% -12.6% -48.41%
Gross Profit Margin 18.15% 19.34% 12.03%
Selling, General & Admin $59.00M $58.40M $51.60M
YoY Change -19.18% -20.44% -33.07%
% of Gross Profit 81.38% 76.54% 113.41%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $9.200M $9.300M $11.50M
YoY Change -23.33% -23.77% -22.3%
% of Gross Profit 12.69% 12.19% 25.27%
Operating Expenses $59.00M $58.50M $52.70M
YoY Change -20.49% -21.58% -32.26%
Operating Profit $9.800M $11.90M -$23.80M
YoY Change -107.3% 205.13% 71.22%
Interest Expense -$10.10M $9.700M -$10.40M
YoY Change -201.0% -2.02% -58.89%
% of Operating Profit -103.06% 81.51%
Other Income/Expense, Net -$3.100M -$6.900M -$10.70M
YoY Change -69.0% -15.85% -991.67%
Pretax Income -$3.400M $3.000M -$34.60M
YoY Change -97.64% -169.77% -9.42%
Income Tax -$13.10M $2.300M -$2.600M
% Of Pretax Income 76.67%
Net Earnings $9.600M $500.0K -$33.40M
YoY Change -106.82% -108.62% -176.78%
Net Earnings / Revenue 2.4% 0.13% -8.83%
Basic Earnings Per Share $0.27 $0.01 -$0.24
Diluted Earnings Per Share $0.27 $0.01 -$0.24
COMMON SHARES
Basic Shares Outstanding 35.13M 35.11M
Diluted Shares Outstanding 35.83M 35.65M

Balance Sheet

Concept 2017 Q3 2017 Q2 2016 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $29.30M $26.30M $69.90M
YoY Change -31.7% -35.54% 121.9%
Cash & Equivalents $29.30M $26.30M $69.90M
Short-Term Investments
Other Short-Term Assets $65.30M $55.40M $54.00M
YoY Change 19.82% 22.57% 17.65%
Inventory $482.2M $476.2M $429.0M
Prepaid Expenses
Receivables $165.0M $181.6M $134.4M
Other Receivables $35.60M $47.00M $62.40M
Total Short-Term Assets $777.4M $786.5M $749.7M
YoY Change -1.17% -7.48% -28.02%
LONG-TERM ASSETS
Property, Plant & Equipment $314.1M $313.7M $308.8M
YoY Change -0.38% -24.48% -24.81%
Goodwill $317.7M $312.5M $299.6M
YoY Change 2.55% 1.63% -2.25%
Intangibles $120.9M $118.7M $114.1M
YoY Change 1.68% 0.0% -4.36%
Long-Term Investments
YoY Change
Other Assets $53.10M $44.30M $45.60M
YoY Change -15.85% -35.42% -74.3%
Total Long-Term Assets $805.8M $789.2M $768.1M
YoY Change -0.84% -13.82% -69.53%
TOTAL ASSETS
Total Short-Term Assets $777.4M $786.5M $749.7M
Total Long-Term Assets $805.8M $789.2M $768.1M
Total Assets $1.583B $1.576B $1.518B
YoY Change -1.0% -10.77% -57.4%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $210.4M $215.2M $157.7M
YoY Change 14.16% -5.9% -41.27%
Accrued Expenses $149.7M $155.6M $162.5M
YoY Change -6.44% 4.78% -1.1%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $10.20M $11.00M $12.40M
YoY Change -33.33% -36.05% -81.55%
Total Short-Term Liabilities $442.1M $459.7M $412.8M
YoY Change 1.47% -4.8% -53.28%
LONG-TERM LIABILITIES
Long-Term Debt $277.4M $278.1M $269.1M
YoY Change -5.32% 1.13% -79.77%
Other Long-Term Liabilities $59.20M $59.10M $64.10M
YoY Change -9.62% -24.04% -26.58%
Total Long-Term Liabilities $513.2M $519.9M $514.5M
YoY Change -4.96% -2.22% -71.99%
TOTAL LIABILITIES
Total Short-Term Liabilities $442.1M $459.7M $412.8M
Total Long-Term Liabilities $513.2M $519.9M $514.5M
Total Liabilities $955.3M $979.6M $927.3M
YoY Change -2.09% -3.45% -65.91%
SHAREHOLDERS EQUITY
Retained Earnings $221.4M $211.8M $247.3M
YoY Change -18.33% -44.01% -56.02%
Common Stock $575.0M $573.1M $569.0M
YoY Change 1.34% 1.33% 1.72%
Preferred Stock
YoY Change
Treasury Stock (at cost) $60.40M $60.80M $62.90M
YoY Change -8.21% -12.14% -12.15%
Treasury Stock Shares $22.44M $23.33M
Shareholders Equity $627.9M $596.1M $590.5M
YoY Change
Total Liabilities & Shareholders Equity $1.583B $1.576B $1.518B
YoY Change -1.0% -10.77% -57.4%

Cashflow Statement

Concept 2017 Q3 2017 Q2 2016 Q4
OPERATING ACTIVITIES
Net Income $9.600M $500.0K -$33.40M
YoY Change -106.82% -108.62% -176.78%
Depreciation, Depletion And Amortization $9.200M $9.300M $11.50M
YoY Change -23.33% -23.77% -22.3%
Cash From Operating Activities -$103.2M -$81.60M -$396.7M
YoY Change 3340.0% 400.61% -327.07%
INVESTING ACTIVITIES
Capital Expenditures $5.100M $8.100M -$11.10M
YoY Change -150.5% -158.7% -51.74%
Acquisitions
YoY Change
Other Investing Activities $115.1M $73.30M $460.5M
YoY Change 14287.5% 560.69%
Cash From Investing Activities $110.0M $65.20M $449.4M
YoY Change -1282.8% -572.46% 862.31%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -2.900M 6.300M -23.60M
YoY Change -120.14% -139.62% -89.74%
NET CHANGE
Cash From Operating Activities -103.2M -81.60M -396.7M
Cash From Investing Activities 110.0M 65.20M 449.4M
Cash From Financing Activities -2.900M 6.300M -23.60M
Net Change In Cash 3.900M -10.10M 29.10M
YoY Change 85.71% -78.04% -438.37%
FREE CASH FLOW
Cash From Operating Activities -$103.2M -$81.60M -$396.7M
Capital Expenditures $5.100M $8.100M -$11.10M
Free Cash Flow -$108.3M -$89.70M -$385.6M
YoY Change -1625.35% 3488.0% -295.04%

Facts In Submission

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<div> <p style="margin-top:8pt;line-height:11pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;color:#000000;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;"><font style="text-decoration:underline;">18.&nbsp;&nbsp;Recent Accounting Changes and Pronouncements</font></p> <p style="margin-top:6pt;line-height:11pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In August 2017, the Financial Accounting Standards Board (&#8220;FASB&#8221;) issued Accounting Standards Updated (&#8220;ASU&#8221;) No. 2017-12 &#8220;Targeted Improvements to Accounting for Hedging Activities,&#8221; which amends ASC 815, &#8220;Derivatives and Hedging.&#8221; The purpose of this ASU is to better align a company&#8217;s risk management activities and financial reporting for hedging relationships, simplify the hedge accounting requirements, and improve the disclosures of hedging arrangements. The effective date is fiscal 2019, with early adoption permitted. The Company is evaluating the impact the adoption of this ASU will have on its consolidated financial statements.&nbsp;&nbsp;</p> <p style="margin-top:6pt;line-height:11pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In May 2017, the FASB issued ASU No. 2017-09 &#8220;Compensation - Stock Compensation (Topic 718):&nbsp;&nbsp;Scope of Modification Accounting,&#8221; to provide clarity and reduce both diversity in practice and cost complexity when applying the guidance in Topic 718 to a change to the terms and conditions of a stock-based payment award. ASU 2017-09 also provides guidance about the types of changes to the terms or conditions of a share-based payment award that require an entity to apply modification accounting in accordance with Topic 718. The standard is effective for annual periods beginning after December 15, 2017, and for interim periods therein. Early adoption is permitted. The Company is evaluating the impact the adoption of this ASU will have on its consolidated financial statements.</p> <p style="margin-top:12pt;line-height:11pt;margin-bottom:0pt;text-indent:0%;letter-spacing:-0.2pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In March 2017, the FASB issued ASU No. 2017-08 &#8220;Receivables - Nonrefundable Fees and Other Costs (Subtopic 310-20):&nbsp;&nbsp;Premium Amortization on Purchased Callable Debt Securities,&#8221; to shorten the amortization period for the premium to the earliest call date instead of the contractual life of the instrument. This new guidance will be effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018 with early adoption permitted. Entities will be required to apply the new guidance using the modified retrospective method with a cumulative-effect adjustment to retained earnings upon the adoption date. The Company is evaluating the impact the adoption of this ASU will have on its consolidated financial statements.</p> <p style="margin-top:12pt;line-height:11pt;margin-bottom:0pt;text-indent:0%;letter-spacing:-0.2pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In March 2017, the FASB issued ASU No. 2017-07 &#8220;Compensation - Retirement Benefits (Topic 715):&nbsp;&nbsp;Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost.&#8221;&nbsp;&nbsp;This ASU amends ASC 715, &#8220;Compensation &#8211; Retirement Benefits,&#8221; to require employers that present a measure of operating income in their statement of income to include only the service cost component of net periodic pension cost and net periodic postretirement benefit cost in operating expenses (together with other employee compensation costs). The other components of net benefit cost, including amortization of prior service cost/credit and settlement and curtailment effects, are to be included in nonoperating expenses. This ASU also allows only the service cost component of net benefit cost to be capitalized (for example, as a cost of inventory). The amendments in this ASU should be applied retrospectively for the presentation of the service cost component and the other components of net periodic pension cost and net periodic postretirement benefit cost in the income statement and prospectively, on and after the effective date, for the capitalization of the service cost component of net periodic pension cost and net periodic postretirement benefit in assets, and is effective for public companies for fiscal years beginning after December 15, 2017; early adoption is permitted. The Company is evaluating the impact the adoption of this ASU will have on its consolidated financial statements.</p> <p style="margin-top:12pt;line-height:11pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In January 2017, the FASB issued ASU No. 2017-04 - &#8220;Intangibles &#8211; Goodwill and Other (Topic 350): Simplifying the Accounting for Goodwill Impairment.&#8221; This ASU simplifies the accounting for goodwill impairment. The guidance removes Step 2 of the goodwill impairment test, which required a hypothetical purchase price allocation. A goodwill impairment is now the amount by which a reporting unit&#8217;s carrying value exceeds its fair value, not to exceed the carrying amount of goodwill.&#160; ASU No. 2017-04 will be effective for annual or interim goodwill impairment tests in fiscal years beginning after December 15, 2019. Early adoption was permitted for any impairment tests performed after January 1, 2017, and the Company early adopted this ASU effective in the first quarter of 2017.</p> <p style="margin-top:12pt;line-height:11pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In November 2016, the FASB issued ASU No. 2016-18 - &#8220;Statement of Cash Flows (Topic 230): Restricted Cash (a consensus of the FASB Emerging Issues Task Force).&#8221; The amendments of this ASU address the diversity of presentation of restricted cash by requiring a statement of cash flows to explain the change during the period in the total cash, cash equivalents and amounts generally described as restricted cash or restricted cash equivalents. ASU 2016-18 will be effective for fiscal years beginning after December 15, 2017. The Company is evaluating the impact the adoption of this ASU will have on its consolidated financial statements.</p> <p style="margin-top:12pt;line-height:11pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In October 2016, the FASB issued ASU No. 2016-16 - &#8220;Income Taxes (Topic 740): Intra-Entity Transfer of Assets Other than Inventory,&#8221; which requires the recognition of the income tax consequences of an intra-entity transfer of an asset, other than inventory, when the transfer occurs. ASU 2016-16 will be effective for fiscal years beginning after December 15, 2017. The Company is currently evaluating the impact the adoption of this ASU will have on its consolidated financial statements.</p> <p style="margin-top:12pt;line-height:11pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In August 2016, the FASB issued ASU No. 2016-15 - &#8220;Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments.&#8221; This update addresses eight specific cash flow issues with the objective of reducing the existing diversity in practice and affects all entities required to present a statement of cash flows under Topic 230.&nbsp;&nbsp;This standard will be effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The Company is evaluating the impact the adoption of this ASU will have on its consolidated financial statements.</p> <p style="margin-top:12pt;line-height:11pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In May 2014, the FASB issued ASU No. 2014-09 - &#8220;Revenue from Contracts with Customers&#8221; (Topic 606), which supersedes the revenue recognition requirements in ASC 605, Revenue Recognition. This was further clarified with technical corrections issued within ASU 2015-14, ASU 2016-08, ASU 2016-10, ASU 2016-11, ASU 2016-12, ASU 2016-20, and ASU 2017-05.&nbsp;&nbsp;The new revenue recognition guidance was issued to provide a single, comprehensive revenue recognition model for all contracts with customer.&nbsp;&nbsp;Under the new guidance, an entity will recognize revenue to depict the transfer of promised goods or services to customer at an amount that the entity expects to be entitled to in exchange for those goods or services. A five-step model has been introduced for an entity to apply when recognizing revenue.&nbsp;&nbsp;The new guidance also includes enhanced disclosure requirements and is effective January 1, 2018.&nbsp;&nbsp;Entities have the option to apply the new guidance under a retrospective approach to each prior reporting period presented, or a modified retrospective approach with the cumulative effect of initially applying the new guidance recognized at the date of initial application within the Consolidated Statement of Changes in Stockholder's Equity. The Company plans to adopt the new guidance effective January 1, 2018, utilizing the modified retrospective approach. Based upon review of the Company's current revenue recognition practices, the Company has not identified any terms or conditions in the contracts reviewed that would suggest that adoption will result in a different pattern of revenue recognition than that recorded under current guidance.&#160; However, the Company will continue to evaluate its assessment as further reviews are performed, which include incremental contract reviews and the finalization of other documentation, which could identify necessary changes under ASU 2014-09.</p> <p style="margin-top:12pt;line-height:11pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In March 2016, the FASB issued ASU 2016-09 - &#8220;Compensation-Stock Compensation (Topic 718):&nbsp;&nbsp;Improvements to Employee Share-Based Payment Accounting.&#8221;&nbsp;&nbsp;This update is part of the FASB's Simplification Initiative, and its objective is to identify, evaluate and improve areas of GAAP for which cost and complexity can be reduced while maintaining or improving usefulness of the information provided to users of financial statements. The update involves several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities and classification on the statement of cash flows. The effective date for this ASU is for annual periods beginning after December 15, 2016 and interim periods within those annual periods. The adoption of this ASU did not have a material impact on the Company's consolidated financial statements.</p> <p style="margin-top:12pt;line-height:11pt;margin-bottom:0pt;text-indent:0%;letter-spacing:-0.1pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In March 2016, the FASB issued ASU No. 2016-06 - &#8220;Derivatives and Hedging: Contingent Put and Call Options in Debt Instruments.&#8221; The amendments clarify the steps required to assess whether a call or put option meets the criteria for bifurcation as an embedded derivative. The ASU is effective for fiscal years, and interim periods within those years, beginning after December 15, 2016. The adoption of this ASU did not have a material impact on the Company's consolidated financial statements.</p> <p style="margin-top:12pt;line-height:11pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In February 2016, the FASB issued ASU 2016-02 - &#8220;Leases,&#8221; which is intended to improve financial reporting on leasing transactions. This standard requires a lessee to record on the balance sheet the assets and liabilities for the rights and obligations created by lease terms of more than 12 months. This standard will be effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The Company is evaluating the impact the adoption of this ASU will have on its consolidated financial statements.</p> <p style="margin-top:12pt;line-height:11pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In January 2016, the FASB issued ASU 2016-01 - &#8220;Financial Instruments-Overall: Recognition and Measurement of Financial Assets and Financial Liabilities.&#8221; ASU 2016-01 amends various aspects of the recognition, measurement, presentation and disclosure for financial instruments. Most significantly, ASU 2016-01 requires equity investments (except those accounted for under the equity method of accounting or those that result in consolidation of an investee) to be measured at fair value with changes in fair value recognized in net income (loss). ASU 2016-01 is effective for annual reporting periods and interim periods within those years beginning after December 15, 2017. The Company is evaluating the impact the adoption of this ASU will have on its consolidated financial statements.</p> <p style="margin-top:12pt;line-height:11pt;margin-bottom:0pt;text-indent:0%;letter-spacing:-0.1pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In July 2015, the FASB issued ASU No. 2015-11 - &#8220;Inventory (Topic 330): Simplifying the Measurement of Inventory.&#8221; This update changes the guidance on accounting for inventory accounted for on a first-in first-out (FIFO) basis. Under the revised standard, an entity should measure FIFO inventory at the lower of cost and net realizable value. Net realizable value is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. Subsequent measurement is unchanged for inventory measured on a last-in, first-out (LIFO) basis. The amendments in this ASU are effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2016. The adoption of this ASU did not have a material impact on the Company's consolidated financial statements.</p></div>
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CY2017Q3 us-gaap Unrecognized Tax Benefits
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14900000
CY2016Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
15800000
CY2017Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
300000
CY2017Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
2805751
CY2016Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0
us-gaap Dividends
Dividends
0
CY2015Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
562300000
us-gaap Stockholders Equity Note Spinoff Transaction
StockholdersEquityNoteSpinoffTransaction
51200000
CY2016Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
271100000
CY2017Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
300000000
CY2017Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2017Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
3500000
CY2017Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2017Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2017Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1500000
CY2016Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1000000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4700000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3800000
CY2017Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
0
CY2016Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
1100000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
1800000
CY2017Q3 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
32300000
CY2016Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
28600000
mtw Standard Product Warranty Period Low End Of Range
StandardProductWarrantyPeriodLowEndOfRange
P12M
mtw Standard Product Warranty Period High End Of Range
StandardProductWarrantyPeriodHighEndOfRange
P60M
CY2015Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
32400000
us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
24600000
CY2016 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
20400000
us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
22500000
CY2016 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
23700000
us-gaap Standard Product Warranty Accrual Foreign Currency Translation Gain Loss
StandardProductWarrantyAccrualForeignCurrencyTranslationGainLoss
-1600000
CY2016 us-gaap Standard Product Warranty Accrual Foreign Currency Translation Gain Loss
StandardProductWarrantyAccrualForeignCurrencyTranslationGainLoss
500000
CY2017Q2 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
32300000
CY2017Q3 us-gaap Product Liability Contingency Accrual Present Value
ProductLiabilityContingencyAccrualPresentValue
22800000
CY2016Q4 us-gaap Product Liability Contingency Accrual Present Value
ProductLiabilityContingencyAccrualPresentValue
21700000
mtw Product Liability Self Insurance Retention Levels Fluctuation Period
ProductLiabilitySelfInsuranceRetentionLevelsFluctuationPeriod
P10Y
CY2017Q3 us-gaap Deferred Revenue
DeferredRevenue
29300000
CY2016Q4 us-gaap Deferred Revenue
DeferredRevenue
30400000
CY2017Q3 us-gaap Guarantee Obligations Maximum Exposure
GuaranteeObligationsMaximumExposure
28400000
CY2016Q4 us-gaap Guarantee Obligations Maximum Exposure
GuaranteeObligationsMaximumExposure
32800000
CY2016Q4 us-gaap Restructuring Reserve
RestructuringReserve
8200000
us-gaap Restructuring Reserve Accrual Adjustment1
RestructuringReserveAccrualAdjustment1
4800000
CY2017Q3 us-gaap Restructuring Reserve
RestructuringReserve
3900000

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