SEC Company Response from TEREX CORP (TEX) (CIK 0000097216) (TEX) — May 18, 2011
TEREX CORP (TEX) (CIK 0000097216)
Date: May 18, 2011 · CIK: 0000097216 · Accession: 0000097216-11-000171
AI Filing Summary & Sentiment
Reasoning
File numbers found in text: 001-10702
Referenced dates: May 10, 2011
Letter
Securities and Exchange Commission Division of Corporation Finance Washington, DC 20549 Re: Terex Corporation (“Terex” or the “Company”) Form 10-K for the Year Ended December 31, 2010 Filed February 18, 2011 File No. 001-10702
Dear Mr. Vaughn:
I have received a copy of your letter dated May 10, 2011 conveying the comments of the staff of the Securities and Exchange Commission (the “Commission”) on the above-referenced filing. Your requests and comments are reproduced below in italics and immediately followed by our responses.
Form 10-K for the Year Ended December 31, 2010
Index to Consolidated Financial Statements and Financial Statement Schedule, page F-1
Notes to Consolidated Financial Statements, page F-7
General
SEC REQUEST OR COMMENT NO. 1:
We note your response to prior comment 4. Please revise your future filings to include a disclosure similar to the one provided in your response.
TEREX CORPORATION'S RESPONSE:
Currently, the Company does not believe that Terex Financial Services (“TFS”) represents a significant part of the Company's business activities in terms of revenue, net income, or assets. The Company continuously monitors its TFS business and will continue to do so in the future. In its applicable future Form 10-K filings, the Company will provide additional disclosure regarding the activities carried out by TFS and the accounting for TFS receivables at such time as it determines that TFS is significant to the Company's business activities in terms of revenue, net income, or assets.
ACKNOWLEDGEMENT:
Terex acknowledges that: (a) it is responsible for the adequacy and accuracy of the disclosure in its filings; (b) staff comments or changes to disclosure in response to staff comments do not foreclose the Commission from taking any action with respect to Terex's filings; and (c) Terex may not assert staff
Terex Corporation 200 Nyala Farm Road Westport, CT 06880 USA TEL +1 203 222 7170 FAX +1 203 222 7976 www.terex.com
Kevin L. Vaughn
Securities and Exchange Commission
May 18, 2011
Page 2 of 2
comments as a defense in any proceeding initiated by the Commission or any person under the federal securities laws of the United States.
* * *
Thank you for the opportunity to respond to your comments. If we can be of any further assistance with respect to this matter, please do not hesitate to contact me.
Very truly yours,
/s/ Eric I Cohen
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CORRESP 1 filename1.htm terexcorprespltr051811 Eric I Cohen Senior Vice President, Secretary and General Counsel Telephone: (203) 222-5950 E-mail: eric.cohen@terex.com May 18, 2011 Kevin L. Vaughn Securities and Exchange Commission Accounting Branch Chief Division of Corporation Finance 100 F Street, NE Washington, DC 20549 Re: Terex Corporation (“Terex” or the “Company”) Form 10-K for the Year Ended December 31, 2010 Filed February 18, 2011 File No. 001-10702 Dear Mr. Vaughn: I have received a copy of your letter dated May 10, 2011 conveying the comments of the staff of the Securities and Exchange Commission (the “Commission”) on the above-referenced filing. Your requests and comments are reproduced below in italics and immediately followed by our responses. Form 10-K for the Year Ended December 31, 2010 Index to Consolidated Financial Statements and Financial Statement Schedule, page F-1 Notes to Consolidated Financial Statements, page F-7 General SEC REQUEST OR COMMENT NO. 1: We note your response to prior comment 4. Please revise your future filings to include a disclosure similar to the one provided in your response. TEREX CORPORATION'S RESPONSE: Currently, the Company does not believe that Terex Financial Services (“TFS”) represents a significant part of the Company's business activities in terms of revenue, net income, or assets. The Company continuously monitors its TFS business and will continue to do so in the future. In its applicable future Form 10-K filings, the Company will provide additional disclosure regarding the activities carried out by TFS and the accounting for TFS receivables at such time as it determines that TFS is significant to the Company's business activities in terms of revenue, net income, or assets. ACKNOWLEDGEMENT: Terex acknowledges that: (a) it is responsible for the adequacy and accuracy of the disclosure in its filings; (b) staff comments or changes to disclosure in response to staff comments do not foreclose the Commission from taking any action with respect to Terex's filings; and (c) Terex may not assert staff Terex Corporation 200 Nyala Farm Road Westport, CT 06880 USA TEL +1 203 222 7170 FAX +1 203 222 7976 www.terex.com Kevin L. Vaughn Securities and Exchange Commission May 18, 2011 Page 2 of 2 comments as a defense in any proceeding initiated by the Commission or any person under the federal securities laws of the United States. * * * Thank you for the opportunity to respond to your comments. If we can be of any further assistance with respect to this matter, please do not hesitate to contact me. Very truly yours, /s/ Eric I Cohen cc: Ronald M. DeFeo Phillip C. Widman 2 Terex Corporation 200 Nyala Farm Road Westport, CT 06880 USA TEL +1 203 222 7170 FAX +1 203 222 7976 www.terex.com