Most of the debt came from the acquisition of the European company that makes the industrial equipment. I expect it to be reduced by the sale noted below. If there is a question, a reading of the 10k should provide more info. It doesn't sound like your broker bothered to read the 10k. You are probably a better researcher than he is.
Oshkosh Corp. Completes Sale of Geesink Norba Group to Platinum Equity
July 1, 2009
Oshkosh Corp. announced that it has completed the sale of the Geesink Norba Group, based in Emmeloord, The Netherlands, to the U.S.-based investment firm Platinum Equity. Financial terms of the deal were not disclosed.
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