Cover
Cover | 12 Months Ended |
Dec. 31, 2022 | |
Document Information [Line Items] | |
Document Type | DEF 14A |
Amendment Flag | false |
Entity Information [Line Items] | |
Entity Registrant Name | PACCAR INC |
Entity Central Index Key | 0000075362 |
Pay vs Performance Disclosure
Pay vs Performance Disclosure | 12 Months Ended | ||
Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | |
Pay vs Performance Disclosure [Table] | |||
Pay vs Performance [Table Text Block] | PAY VERSUS PERFORMANCE DISCLOSURE The following table provides information on compensation for the principal executive officer (“PEO”), the average compensation for the other Named Executive Officers (“Non-PEO Year Summary ($) (a) Compensation ($) (a) (b) (c) Average Non-PEO ($) (a) Average Non-PEO ($) (a) (b) (c) Value of Initial Fixed $100 Net After-Tax Total ($) (d) Peer Group ($) (d) 2022 9,961,737 12,616,278 2,814,187 3,521,502 138.21 178.91 3.0 10.4 2021 12,800,753 10,086,318 3,743,979 3,261,059 118.05 162.86 1.9 7.9 2020 8,770,878 6,840,581 3,762,789 3,143,617 111.74 132.46 1.3 6.9 (a) R. P. Feight was the PEO in 2022, 2021 and 2020. H. C. Schippers, M. T. Barkley, C. M. Dozier and D. C. Siver were the Non-PEO Non-PEO (b) The value of the “compensation actually paid” to our PEO and Non-PEO PEO 2022 2021 2020 Summary Compensation Table Total $ 9,961,737 $ 12,800,753 $ 8,770,878 Deducted ($ 43,437 ) ($ 3,022,430 ) ($ 2,764,444 ) Added $ 681,190 $ 585,062 $ 503,152 Deducted ($ 5,173,050 ) ($ 5,222,256 ) ($ 3,388,524 ) Added year-end $ 5,171,390 $ 4,532,153 $ 3,469,043 Added year-end $ 1,908,027 $ 364,657 $ 222,255 Added $ 110,421 $ 48,379 $ 28,221 Compensation Actually Paid $ 12,616,278 $ 10,086,318 $ 6,840,581 Non-PEO 2022 2021 2020 Average Summary Compensation Table Total $ 2,814,187 $ 3,743,979 $ 3,762,789 Deducted ($ 31,216 ) ($ 719,975 ) ($ 1,192,419 ) Added $ 189,787 $ 285,277 $ 281,122 Deducted ($ 1,025,279 ) ($ 1,011,741 ) ($ 770,267 ) Added year-end $ 1,068,075 $ 872,333 $ 825,546 Added year-end $ 476,533 $ 70,797 $ 202,152 Added $ 29,415 $ 20,389 $ 34,694 Average Compensation Actually Paid $ 3,521,502 $ 3,261,059 $ 3,143,617 (c) Stock option grant date fair values are calculated based on the Black-Scholes option pricing model as of the date of grant. Adjustments have been made using stock option fair values as of each measurement date using the stock price as of the measurement date and updated assumptions ( i.e., (d) Total shareholder return is based on a $100 investment as of December 31, 2019 and determined using Standard and Poor’s calculations of the cumulative total shareholder return on the Company’s common stock and the stock of each of the Peer Companies for the applicable year, weighted according to its respective capitalization at the beginning of each period, with dividends reinvested on a monthly basis. | ||
Company Selected Measure Name | After-TaxReturnonRevenue | ||
Named Executive Officers, Footnote [Text Block] | R. P. Feight was the PEO in 2022, 2021 and 2020. H. C. Schippers, M. T. Barkley, C. M. Dozier and D. C. Siver were the Non-PEO Non-PEO | ||
Peer Group Issuers, Footnote [Text Block] | Total shareholder return is based on a $100 investment as of December 31, 2019 and determined using Standard and Poor’s calculations of the cumulative total shareholder return on the Company’s common stock and the stock of each of the Peer Companies for the applicable year, weighted according to its respective capitalization at the beginning of each period, with dividends reinvested on a monthly basis. | ||
PEO Total Compensation Amount | $ 9,961,737 | $ 12,800,753 | $ 8,770,878 |
PEO Actually Paid Compensation Amount | $ 12,616,278 | 10,086,318 | 6,840,581 |
Adjustment To PEO Compensation, Footnote [Text Block] | PEO 2022 2021 2020 Summary Compensation Table Total $ 9,961,737 $ 12,800,753 $ 8,770,878 Deducted ($ 43,437 ) ($ 3,022,430 ) ($ 2,764,444 ) Added $ 681,190 $ 585,062 $ 503,152 Deducted ($ 5,173,050 ) ($ 5,222,256 ) ($ 3,388,524 ) Added year-end $ 5,171,390 $ 4,532,153 $ 3,469,043 Added year-end $ 1,908,027 $ 364,657 $ 222,255 Added $ 110,421 $ 48,379 $ 28,221 Compensation Actually Paid $ 12,616,278 $ 10,086,318 $ 6,840,581 | ||
Non-PEO NEO Average Total Compensation Amount | $ 2,814,187 | 3,743,979 | 3,762,789 |
Non-PEO NEO Average Compensation Actually Paid Amount | $ 3,521,502 | 3,261,059 | 3,143,617 |
Adjustment to Non-PEO NEO Compensation Footnote [Text Block] | Non-PEO 2022 2021 2020 Average Summary Compensation Table Total $ 2,814,187 $ 3,743,979 $ 3,762,789 Deducted ($ 31,216 ) ($ 719,975 ) ($ 1,192,419 ) Added $ 189,787 $ 285,277 $ 281,122 Deducted ($ 1,025,279 ) ($ 1,011,741 ) ($ 770,267 ) Added year-end $ 1,068,075 $ 872,333 $ 825,546 Added year-end $ 476,533 $ 70,797 $ 202,152 Added $ 29,415 $ 20,389 $ 34,694 Average Compensation Actually Paid $ 3,521,502 $ 3,261,059 $ 3,143,617 | ||
Compensation Actually Paid vs. Total Shareholder Return [Text Block] | |||
Compensation Actually Paid vs. Net Income [Text Block] | |||
Compensation Actually Paid vs. Company Selected Measure [Text Block] | |||
Tabular List [Table Text Block] | Performance Measures The following table lists the most important financial performance measures used to link compensation actually paid to the PEO and Non-PEO • Net Income • After-Tax • Three-Year Change in Net Income • Return on Sales • Return on Capital The Company’s use of these financial performance measures is described in the Compensation Discussion and Analysis section under the headings “Annual Incentive Cash Compensation (“IC”)” and “Long-Term Incentive Compensation (“LTIP”).” | ||
Total Shareholder Return Amount | $ 138.21 | 118.05 | 111.74 |
Peer Group Total Shareholder Return Amount | 178.91 | 162.86 | 132.46 |
Net Income (Loss) | $ 3,000,000,000 | $ 1,900,000,000 | $ 1,300,000,000 |
Company Selected Measure Amount | 0.104 | 0.079 | 0.069 |
PEO Name | R. P. Feight | R. P. Feight | R. P. Feight |
Measure [Axis]: 1 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Net Income | ||
Measure [Axis]: 2 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | After-Tax Return on Revenue | ||
Measure [Axis]: 3 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Three-Year Change in Net Income | ||
Measure [Axis]: 4 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Return on Sales | ||
Measure [Axis]: 5 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Return on Capital | ||
PEO [Member] | Change in Pension Value in Summary Compensation [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | $ (43,437) | $ (3,022,430) | $ (2,764,444) |
PEO [Member] | Pension plan service cost and prior service cost [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 681,190 | 585,062 | 503,152 |
PEO [Member] | Stock and Option Awards values reported in Summary Compensation [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (5,173,050) | (5,222,256) | (3,388,524) |
PEO [Member] | Fair value at fiscal yearend of Stock and Option Awards granted during covered year that remain outstanding and unvested as of fiscal year end [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 5,171,390 | 4,532,153 | 3,469,043 |
PEO [Member] | Change as of covered year fiscal year end (from prior fiscal year end) in fair value of Stock and Option Awards granted in a prior fiscal year that remain outstanding and unvested as of fiscal year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 1,908,027 | 364,657 | 222,255 |
PEO [Member] | Dollar value of dividends or other earnings paid on Stock or Option Awards during fiscal year prior to vesting date [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 110,421 | 48,379 | 28,221 |
Non-PEO NEO [Member] | Change in Pension Value in Summary Compensation [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (31,216) | (719,975) | (1,192,419) |
Non-PEO NEO [Member] | Pension plan service cost and prior service cost [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 189,787 | 285,277 | 281,122 |
Non-PEO NEO [Member] | Stock and Option Awards values reported in Summary Compensation [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (1,025,279) | (1,011,741) | (770,267) |
Non-PEO NEO [Member] | Fair value at fiscal yearend of Stock and Option Awards granted during covered year that remain outstanding and unvested as of fiscal year end [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 1,068,075 | 872,333 | 825,546 |
Non-PEO NEO [Member] | Change as of covered year fiscal year end (from prior fiscal year end) in fair value of Stock and Option Awards granted in a prior fiscal year that remain outstanding and unvested as of fiscal year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 476,533 | 70,797 | 202,152 |
Non-PEO NEO [Member] | Dollar value of dividends or other earnings paid on Stock or Option Awards during fiscal year prior to vesting date [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | $ 29,415 | $ 20,389 | $ 34,694 |