PACCAR (PCAR) 10-Q 3 Nov 17 2017 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2017	Oct. 31, 2017
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
Trading Symbol	PCAR
Entity Registrant Name	PACCAR INC
Entity Central Index Key	75,362
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		351,610,175

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income € in Millions, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017USD ($)$ / sharesshares	Sep. 30, 2016USD ($)$ / sharesshares	Sep. 30, 2017USD ($)$ / sharesshares	Sep. 30, 2016USD ($)$ / sharesshares
Provision for losses on receivables			$ 17.4	$ 14.5
Investment income	$ 9	$ 8.5	25.8	20.6
Income before income taxes	581.8	494.9	1,569	711.5
Income taxes	179.1	148.7	483	478.6
Net Income	$ 402.7	$ 346.2	$ 1,086	$ 232.9
Net Income Per Share
Basic | $ / shares	$ 1.14	$ 0.99	$ 3.09	$ 0.66
Diluted | $ / shares	$ 1.14	$ 0.98	$ 3.08	$ 0.66
Weighted Average Number of Common Shares Outstanding
Basic | shares	351.9	351	351.7	351.1
Diluted | shares	352.9	351.8	352.8	351.8
Dividends declared per share | $ / shares	$ 0.25	$ 0.24	$ 0.74	$ 0.72
Comprehensive Income	$ 511.7	$ 346.6	$ 1,397.9	$ 323.2
Truck, Parts and Other
Net sales and revenues	4,731.5	3,953.2	13,065.1	12,079.6
Cost of sales and revenues	4,046.8	3,371.5	11,184.2	10,274.5
Research and development	67	59.2	194.1	179.6
Selling, general and administrative	112.9	105.5	332	326
European Commission charge	0	0	0	833
Interest and other expense, net	3.2	1.6	3.1	4.2
Costs and Expenses, Total	4,229.9	3,537.8	11,713.4	11,617.3
Income before income taxes	501.6	415.4	1,351.7	462.3
Financial Services
Interest and fees	111.2	105.9	317.6	320.4
Operating lease, rental and other revenues	217	190.3	619.1	562.6
Revenues	328.2	296.2	936.7	883
Interest and other borrowing expenses	38.3	32.2	109.8	95.1
Depreciation and other expenses	186.2	162.6	538.7	469.9
Selling, general and administrative	27.8	25.3	79.3	74.9
Provision for losses on receivables	4.7	5.1	17.4	14.5
Costs and Expenses, Total	257	225.2	745.2	654.4
Income before income taxes	$ 71.2	$ 71	$ 191.5	$ 228.6

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
ASSETS
Cash and cash equivalents	$ 2,313.3	$ 1,915.7
Total Assets	23,103.9	20,638.9	[1]
STOCKHOLDERS' EQUITY:
Preferred stock, no par value - authorized 1.0 million shares, none issued	0	0	[1]
Common stock, $1 par value - authorized 1.2 billion shares, issued 351.5 and 350.7 million shares	351.5	350.7	[1]
Additional paid-in capital	109.6	70.1	[1]
Retained earnings	8,290.7	7,484.9	[1]
Accumulated other comprehensive loss	(816.2)	(1,128.1)	[1]
Total Stockholders' Equity	7,935.6	6,777.6	[1]
Liabilities and Equity, Total	23,103.9	20,638.9	[1]
Truck, Parts and Other
ASSETS
Cash and cash equivalents	2,205.3	1,781.7	[1]
Trade and other receivables, net	1,323.8	862.2	[1]
Marketable debt securities	1,216	1,140.9	[1]
Inventories, net	983	727.8	[1]
Other current assets	252.4	225.6	[1]
Total Truck, Parts and Other Current Assets	5,980.5	4,738.2	[1]
Equipment on operating leases, net	1,248.8	1,013.9	[1]
Property, plant and equipment, net	2,389.1	2,260	[1]
Other noncurrent assets, net	423.8	432	[1]
Total Assets	10,042.2	8,444.1	[1]
Liabilities
Accounts payable, accrued expenses and other	2,760.1	2,034.1	[1]
Dividend payable	0	210.4	[1]
Total Truck, Parts and Other Current Liabilities	2,760.1	2,244.5	[1]
Residual value guarantees and deferred revenues	1,319.3	1,072.6	[1]
Other liabilities	805.3	739.1	[1]
Total Liabilities	4,884.7	4,056.2	[1]
Financial Services
ASSETS
Cash and cash equivalents	108	134	[1]
Finance and other receivables, net	9,548.7	8,837.4	[1]
Equipment on operating leases, net	2,835.8	2,623.9	[1]
Other assets	569.2	599.5	[1]
Total Assets	13,061.7	12,194.8	[1]
Liabilities
Accounts payable, accrued expenses and other	473.8	395	[1]
Commercial paper and bank loans	2,865.1	2,447.5	[1]
Term notes	5,966.9	6,027.7	[1]
Deferred taxes and other liabilities	977.8	934.9	[1]
Total Liabilities	$ 10,283.6	$ 9,805.1	[1]
[1]	The December 31, 2016 consolidated balance sheet has been derived from audited financial statements.

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2017	Dec. 31, 2016	[1]
Statement Of Financial Position [Abstract]
Preferred stock, no par value
Preferred stock, authorized	1,000,000	1,000,000
Preferred stock, issued	0	0
Common stock, par value	$ 1	$ 1
Common stock, authorized	1,200,000,000	1,200,000,000
Common stock, issued	351,500,000	350,700,000
[1]	The December 31, 2016 consolidated balance sheet has been derived from audited financial statements.

Condensed Consolidated Statemen

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
OPERATING ACTIVITIES:
Net income	$ 1,086	$ 232.9
Adjustments to reconcile net income to cash provided by operations:
Depreciation and amortization, Property, plant and equipment	235.4	230.6
Depreciation and amortization, Equipment on operating leases and other	578.9	515
Provision for losses on financial services receivables	17.4	14.5
Other, net	(4.9)	2.2
Pension contributions	(15.3)	(65.1)
Change in operating assets and liabilities:
Trade and other receivables	(461.6)	(195.4)
Wholesale receivables on new trucks	(316.3)	211.8
Sales-type finance leases and dealer direct loans on new trucks	98.1	105.7
Inventories	(207.8)	(7.4)
Accounts payable and accrued expenses	595.8	152.6
Income taxes, warranty and other	216.8	293.1
Net Cash Provided by Operating Activities	1,822.5	1,490.5
INVESTING ACTIVITIES:
Originations of retail loans and direct financing leases	(2,132)	(2,026.4)
Collections on retail loans and direct financing leases	1,997.7	1,852.8
Net increase in wholesale receivables on used equipment	16.3	5.4
Purchases of marketable debt securities	(613.6)	(796.2)
Proceeds from sales and maturities of marketable debt securities	578.8	1,166.9
Payments for property, plant and equipment	(295.9)	(242)
Acquisitions of equipment for operating leases	(1,047.8)	(1,202.3)
Proceeds from asset disposals	357	320.9
Other, net	0	(0.5)
Net Cash Used in Investing Activities	(1,139.5)	(921.4)
FINANCING ACTIVITIES:
Payments of cash dividends	(470.4)	(745.2)
Purchases of treasury stock	0	(56.3)
Proceeds from stock compensation transactions	28.2	11.3
Net increase (decrease) in commercial paper and short-term bank loans	261.9	(283.6)
Proceeds from term debt	1,371	1,864.4
Payments on term debt	(1,560)	(1,622.6)
Net Cash Used in Financing Activities	(369.3)	(832)
Effect of exchange rate changes on cash	83.9	34.4
Net Increase (Decrease) in Cash and Cash Equivalents	397.6	(228.5)
Cash and cash equivalents at beginning of period	1,915.7	2,016.4
Cash and cash equivalents at end of period	$ 2,313.3	$ 1,787.9

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2017
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Basis of Presentation	NOTE A - Basis of Presentation The accompanying unaudited consolidated financial statements have been prepared in accordance with generally accepted accounting principles (GAAP) for interim financial information and with the instructions to Form 10‑Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals and the non-recurring European Commission charge) considered necessary for a fair presentation have been included. Operating results for the three and nine months ended September 30, 2017 are not necessarily indicative of the results that may be expected for the year ending December 31, 2017. For further information, refer to the consolidated financial statements and footnotes included in PACCAR Inc’s (PACCAR or the Company) Annual Report on Form 10‑K for the year ended December 31, 2016. Earnings per Share : Basic earnings per common share are computed by dividing earnings by the weighted average number of common shares outstanding, plus the effect of any participating securities. Diluted earnings per common share are computed assuming that all potentially dilutive securities are converted into common shares under the treasury stock method. The dilutive and antidilutive options are shown separately in the table below. Three Months Ended Nine Months Ended September 30 September 30 2017 2016 2017 2016 Additional shares 1,035,000 738,500 1,021,000 679,400 Antidilutive options 599,400 1,099,600 695,900 1,943,500 New Accounting Pronouncements: In March 2017, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2017-07 . The amendment disaggregates the service cost component from non-service cost components of pension expense and prescribes where to present the various components of pension cost on the income statement. This ASU also allows only the service cost component to be eligible for capitalization, when applicable (e.g. as a cost of manufactured inventory or self-constructed assets). The Company will adopt this ASU in January 2018 and accordingly will apply the income statement presentation of service and non-service components of pension expense retrospectively and the capitalization of service cost prospectively. Non-service components of pension expense (see Note K) are currently reported in Cost of sales and revenues and Selling, general and administrative expenses. Upon adoption of this ASU these costs will be reported in Interest and other expenses, net in the Company’s Truck, Parts and Other segments. In October 2016, the FASB issued ASU 2016-16, Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers The Company’s evaluation of the new standard is substantially complete, and the Company does not expect adoption of the new standard to have a material impact on the income statement or retained earnings. The Company currently expects the most significant effect of the standard relates to trucks sold in Europe that are subject to a residual value guarantee (RVG) and are currently accounted for as an operating lease in the Truck, Parts and Other section of the Company’s Consolidated Balance Sheets (see Note E in the 2016 Form 10-K). Under the new standard, based on the Company’s current assessment, revenues would be recognized immediately for certain of these RVG contracts that allow customers the option to return their truck and for which there is no economic incentive to do so. Based on the existing portfolio of RVG contracts, under the new standard, revenues are expected to be recognized immediately for approximately half of the RVG portfolio instead of being deferred and amortized over the life of the RVG contract. The Company will continue to evaluate the new standard, including any new interpretive guidance, and any related impact to its consolidated financial statements. In addition to ASU 2016-16 disclosed above, the Company adopted the following standards effective January 1, 2017, none of which had a material impact on the Company’s consolidated financial statements. STANDARD DESCRIPTION 2017-04 * Intangibles – Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment. 2016-09 ** Compensation – Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting. 2015-11 ** Inventory (Topic 330): Simplifying the Measurement of Inventory. * The Company early adopted in 2017. ** The Company adopted on the effective date of January 1, 2017. The FASB also issued the following standards, which is not expected to have a material impact on the Company’s consolidated financial statements. STANDARD DESCRIPTION EFFECTIVE DATE* 2016-01 * Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. January 1, 2018 2016-15 * Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments January 1, 2018 2017-12 ** Derivative and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities. January 1, 2019 * The Company expects to adopt on the effective date. ** The Company expects to early adopt on January 1, 2018.

Investments in Marketable Debt

Investments in Marketable Debt Securities	9 Months Ended
	Sep. 30, 2017
Investments Debt And Equity Securities [Abstract]
Investments in Marketable Debt Securities	NOTE B - Investments in Marketable Debt Securities The Company's investments in marketable debt securities are classified as available-for-sale. These investments are stated at fair value with any unrealized gains or losses, net of tax, included as a component of accumulated other comprehensive income (loss) (AOCI). The Company utilizes third-party pricing services for all of its marketable debt security valuations. The Company reviews the pricing methodology used by the third‑party pricing services, including the manner employed to collect market information. On a quarterly basis, the Company also performs review and validation procedures on the pricing information received from the third‑party providers. These procedures help ensure that the fair value information used by the Company is determined in accordance with applicable accounting guidance. The Company evaluates its investment in marketable debt securities at the end of each reporting period to determine if a decline in fair value is other-than-temporary. Realized losses are recognized upon management’s determination that a decline in fair value is other-than-temporary. The determination of other-than-temporary impairment is a subjective process, requiring the use of judgments and assumptions regarding the amount and timing of recovery. The Company reviews and evaluates its investments at least quarterly to identify investments that have indications of other-than-temporary impairments. It is reasonably possible that a change in estimate could occur in the near term relating to other-than-temporary impairment. Accordingly, the Company considers several factors when evaluating debt securities for other-than-temporary impairment, including whether the decline in fair value of the security is due to increased default risk for the specific issuer or market interest-rate risk. In assessing default risk, the Company considers the collectability of principal and interest payments by monitoring changes to issuers’ credit ratings, specific credit events associated with individual issuers as well as the credit ratings of any financial guarantor, and the extent and duration to which amortized cost exceeds fair value. In assessing market interest rate risk, including benchmark interest rates and credit spreads, the Company considers its intent for selling the securities and whether it is more likely than not the Company will be able to hold these securities until the recovery of any unrealized losses. Marketable debt securities at September 30, 2017 and December 31, 2016 consisted of the following: AMORTIZED UNREALIZED UNREALIZED FAIR At September 30, 2017 COST GAINS LOSSES VALUE U.S. tax-exempt securities $ 520.8 $ 1.3 $ .1 $ 522.0 U.S. corporate securities 58.6 .3 58.9 U.S. government and agency securities 12.2 12.2 Non-U.S. corporate securities 397.7 1.4 1.2 397.9 Non-U.S. government securities 97.0 .3 .1 97.2 Other debt securities 128.1 .1 .4 127.8 $ 1,214.4 $ 3.4 $ 1.8 $ 1,216.0 AMORTIZED UNREALIZED UNREALIZED FAIR At December 31, 2016 COST GAINS LOSSES VALUE U.S. tax-exempt securities $ 597.9 $ .2 $ 3.1 $ 595.0 U.S. corporate securities 47.6 .2 47.8 U.S. government and agency securities 16.0 16.0 Non-U.S. corporate securities 306.9 1.5 .4 308.0 Non-U.S. government securities 97.6 .6 98.2 Other debt securities 75.9 .2 .2 75.9 $ 1,141.9 $ 2.7 $ 3.7 $ 1,140.9 The cost of marketable debt securities is adjusted for amortization of premiums and accretion of discounts to maturity. Amortization, accretion, interest and dividend income and realized gains and losses are included in investment income. The cost of securities sold is based on the specific identification method. Gross realized gains were $1.3 and $4.2 and gross realized losses were $.4 and $.1 for the nine month periods ended September 30, 2017 and 2016, respectively. Marketable debt securities with continuous unrealized losses and their related fair values were as follows: September 30, 2017 December 31, 2016 LESS THAN TWELVE MONTHS LESS THAN TWELVE MONTHS TWELVE MONTHS OR GREATER TWELVE MONTHS OR GREATER Fair value $ 409.8 $ 11.3 $ 615.5 Unrealized losses 1.7 .1 3.7 For the investment securities in gross unrealized loss positions identified above, the Company does not intend to sell the investment securities. It is more likely than not that the Company will not be required to sell the investment securities before recovery of the unrealized losses, and the Company expects that the contractual principal and interest will be received on the investment securities. As a result, the Company recognized no other-than-temporary impairments during the periods presented. Contractual maturities on marketable debt securities at September 30, 2017 AMORTIZED FAIR Maturities: COST VALUE Within one year $ 404.4 $ 404.6 One to five years 800.9 802.3 More than ten years 9.1 9.1 $ 1,214.4 $ 1,216.0

Inventories

Inventories	9 Months Ended
	Sep. 30, 2017
Inventory Disclosure [Abstract]
Inventories	NOTE C - Inventories Inventories are stated at the lower of cost or market. Cost of inventories in the U.S. is determined principally by the last‑in, first-out (LIFO) method. Cost of all other inventories is determined principally by the first-in, first-out (FIFO) method. Inventories include the following: September 30 December 31 2017 2016 Finished products $ 574.1 $ 452.3 Work in process and raw materials 581.6 444.7 1,155.7 897.0 Less LIFO reserve (172.7 ) (169.2 ) $ 983.0 $ 727.8 Under the LIFO method of accounting (used for approximately 45% of September 30, 2017 inventories), an actual valuation can be made only at the end of each year based on year-end inventory levels and costs. Accordingly, interim valuations are based on management’s estimates of those year-end amounts.

Finance and Other Receivables

Finance and Other Receivables	9 Months Ended
	Sep. 30, 2017
Receivables [Abstract]
Finance and Other Receivables	NOTE D - Finance and Other Receivables Finance and other receivables include the following: September 30 December 31 2017 2016 Loans $ 4,024.3 $ 3,948.6 Direct financing leases 3,142.1 2,798.0 Sales-type finance leases 761.3 867.3 Dealer wholesale financing 1,910.6 1,528.5 Operating lease receivables and other 192.1 150.9 Unearned interest: Finance leases (362.0 ) (344.7 ) $ 9,668.4 $ 8,948.6 Less allowance for losses: Loans and leases (104.0 ) (97.1 ) Dealer wholesale financing (6.5 ) (5.5 ) Operating lease receivables and other (9.2 ) (8.6 ) $ 9,548.7 $ 8,837.4 Recognition of interest income and rental revenue is suspended (put on non-accrual status) when the receivable becomes more than 90 days past the contractual due date or earlier if some other event causes the Company to determine that collection is not probable. Accordingly, no finance receivables more than 90 days past due were accruing interest at September 30, 2017 or December 31, 2016. Recognition is resumed if the receivable becomes current by the payment of all amounts due under the terms of the existing contract and collection of remaining amounts is considered probable (if not contractually modified) or if the customer makes scheduled payments for three months and collection of remaining amounts is considered probable (if contractually modified). Payments received while the finance receivable is on non-accrual status are applied to interest and principal in accordance with the contractual terms. Allowance for Credit Losses The Company continuously monitors the payment performance of its finance receivables. For large retail finance customers and dealers with wholesale financing, the Company regularly reviews their financial statements and makes site visits and phone contact as appropriate. If the Company becomes aware of circumstances that could cause those customers or dealers to face financial difficulty, whether or not they are past due, the customers are placed on a watch list. The Company modifies loans and finance leases in the normal course of its Financial Services operations. The Company may modify loans and finance leases for commercial reasons or for credit reasons. Modifications for commercial reasons are changes to contract terms for customers that are not considered to be in financial difficulty. Insignificant delays are modifications extending terms up to three months for customers experiencing some short-term financial stress, but not considered to be in financial difficulty. Modifications for credit reasons are changes to contract terms for customers considered to be in financial difficulty. The Company’s modifications typically result in granting more time to pay the contractual amounts owed and charging a fee and interest for the term of the modification. When considering whether to modify customer accounts for credit reasons, the Company evaluates the creditworthiness of the customers and modifies those accounts that the Company considers likely to perform under the modified terms. When the Company modifies loans and finance leases for credit reasons and grants a concession, the modifications are classified as troubled debt restructurings (TDR). The Company does not typically grant credit modifications for customers that do not meet minimum underwriting standards since the Company normally repossesses the financed equipment in these circumstances. When such modifications do occur, they are considered TDRs. On average, modifications extended contractual terms by approximately four months in 2017 and 2016 and did not have a significant effect on the weighted average term or interest rate of the total portfolio at September 30, 2017 and December 31, 2016. The Company has developed a systematic methodology for determining the allowance for credit losses for its two portfolio segments, retail and wholesale. The retail segment consists of retail loans and direct and sales-type finance leases, net of unearned interest. The wholesale segment consists of truck inventory financing loans to dealers that are collateralized by trucks and other collateral. The wholesale segment generally has less risk than the retail segment. Wholesale receivables generally are shorter in duration than retail receivables, and the Company requires periodic reporting of the wholesale dealer’s financial condition, conducts periodic audits of the trucks being financed and in many cases, obtains guarantees or other security such as dealership assets. In determining the allowance for credit losses, retail loans and finance leases are evaluated together since they relate to a similar customer base, their contractual terms require regular payment of principal and interest, generally over 36 to 60 months, and they are secured by the same type of collateral. The allowance for credit losses consists of both specific and general reserves. The Company individually evaluates certain finance receivables for impairment. Finance receivables that are evaluated individually for impairment consist of all wholesale accounts and certain large retail accounts with past due balances or otherwise determined to be at a higher risk of loss. A finance receivable is impaired if it is considered probable the Company will be unable to collect all contractual interest and principal payments as scheduled. In addition, all retail loans and leases which have been classified as TDRs and all customer accounts over 90 days past due are considered impaired. Generally, impaired accounts are on non-accrual status. Impaired accounts classified as TDRs which have been performing for 90 consecutive days are placed on accrual status if it is deemed probable that the Company will collect all principal and interest payments. Impaired receivables are generally considered collateral dependent. Large balance retail and all wholesale impaired receivables are individually evaluated to determine the appropriate reserve for losses. The determination of reserves for large balance impaired receivables considers the fair value of the associated collateral. When the underlying collateral fair value exceeds the Company’s recorded investment, no reserve is recorded. Small balance impaired receivables with similar risk characteristics are evaluated as a separate pool to determine the appropriate reserve for losses using the historical loss information discussed below. The Company evaluates finance receivables that are not individually impaired on a collective basis and determines the general allowance for credit losses for both retail and wholesale receivables based on historical loss information, using past due account data and current market conditions. Information used includes assumptions regarding the likelihood of collecting current and past due accounts, repossession rates, the recovery rate on the underlying collateral based on used truck values and other pledged collateral or recourse. The Company has developed a range of loss estimates for each of its country portfolios based on historical experience, taking into account loss frequency and severity in both strong and weak truck market conditions. A projection is made of the range of estimated credit losses inherent in the portfolio from which an amount is determined as probable based on current market conditions and other factors impacting the creditworthiness of the Company’s borrowers and their ability to repay. After determining the appropriate level of the allowance for credit losses, a provision for losses on finance receivables is charged to income as necessary to reflect management’s estimate of incurred credit losses, net of recoveries, inherent in the portfolio. In determining the fair value of the collateral, the Company uses a pricing matrix and categorizes the fair value as Level 2 in the hierarchy of fair value measurement. The pricing matrix is reviewed quarterly and updated as appropriate. The pricing matrix considers the make, model and year of the equipment as well as recent sales prices of comparable equipment sold individually, which is the lowest unit of account, through wholesale channels to the Company’s dealers (principal market). The fair value of the collateral also considers the overall condition of the equipment. Accounts are charged-off against the allowance for credit losses when, in the judgment of management, they are considered uncollectible, which generally occurs upon repossession of the collateral. Typically the timing between the repossession and charge-off is not significant. In cases where repossession is delayed (e.g., for legal proceedings), the Company records a partial charge-off. The charge-off is determined by comparing the fair value of the collateral, less cost to sell, to the recorded investment. For the following credit quality disclosures, finance receivables are classified into two portfolio segments, wholesale and retail. The retail portfolio is further segmented into dealer retail and customer retail. The dealer wholesale segment consists of truck inventory financing to PACCAR dealers. The dealer retail segment consists of loans and leases to participating dealers and franchises that use the proceeds to fund customers’ acquisition of commercial vehicles and related equipment. The customer retail segment consists of loans and leases directly to customers for the acquisition of commercial vehicles and related equipment. Customer retail receivables are further segregated between fleet and owner/operator classes. The fleet class consists of customer retail accounts operating more than five trucks. All other customer retail accounts are considered owner/operator. These two classes have similar measurement attributes, risk characteristics and common methods to monitor and assess credit risk. The allowance for credit losses is summarized as follows: 2017 DEALER CUSTOMER WHOLESALE RETAIL RETAIL OTHER* TOTAL Balance at January 1 $ 5.5 $ 9.6 $ 87.5 $ 8.6 $ 111.2 Provision for losses .4 (.6 ) 17.2 .4 17.4 Charge-offs (17.7 ) (.6 ) (18.3 ) Recoveries 3.3 .2 3.5 Currency translation and other .6 .2 4.5 .6 5.9 Balance at September 30 $ 6.5 $ 9.2 $ 94.8 $ 9.2 $ 119.7 2016 DEALER CUSTOMER WHOLESALE RETAIL RETAIL OTHER* TOTAL Balance at January 1 $ 7.3 $ 10.3 $ 88.9 $ 8.3 $ 114.8 Provision for losses (1.0 ) (.7 ) 14.5 1.7 14.5 Charge-offs (17.0 ) (1.9 ) (18.9 ) Recoveries 4.0 .1 4.1 Currency translation and other .2 .1 (.6 ) .2 (.1 ) Balance at September 30 $ 6.5 $ 9.7 $ 89.8 $ 8.4 $ 114.4 * Operating leases and other trade receivables. Information regarding finance receivables evaluated and determined individually and collectively is as follows: DEALER CUSTOMER At September 30, 2017 WHOLESALE RETAIL RETAIL TOTAL Recorded investment for impaired finance receivables evaluated individually $ .1 $ 4.1 $ 49.4 $ 53.6 Allowance for impaired finance receivables determined individually .1 7.6 7.7 Recorded investment for finance receivables evaluated collectively 1,910.5 1,327.0 6,185.2 9,422.7 Allowance for finance receivables determined collectively 6.4 9.2 87.2 102.8 DEALER CUSTOMER At December 31, 2016 WHOLESALE RETAIL RETAIL TOTAL Recorded investment for impaired finance receivables evaluated individually $ .1 $ 57.3 $ 57.4 Allowance for impaired finance receivables determined individually .1 4.9 5.0 Recorded investment for finance receivables evaluated collectively 1,528.4 $ 1,406.0 5,805.9 8,740.3 Allowance for finance receivables determined collectively 5.4 9.6 82.6 97.6 The recorded investment for finance receivables that are on non-accrual status is as follows: September 30 December 31 2017 2016 Dealer: Wholesale $ .1 $ .1 Customer retail: Fleet 41.5 49.5 Owner/operator 7.3 6.9 $ 48.9 $ 56.5 Impaired Loans Impaired loans are summarized below. The impaired loans with a specific reserve represent the unpaid principal balance. The recorded investment of impaired loans as of September 30, 2017 and December 31, 2016 was not significantly different than the unpaid principal balance. DEALER CUSTOMER RETAIL OWNER/ At September 30, 2017 WHOLESALE RETAIL FLEET OPERATOR TOTAL Impaired loans with a specific reserve $ .1 $ 20.0 $ 1.2 $ 21.3 Associated allowance (.1 ) (3.8 ) (.3 ) (4.2 ) $ 16.2 $ .9 $ 17.1 Impaired loans with no specific reserve $ 4.1 8.5 12.6 Net carrying amount of impaired loans $ 4.1 $ 24.7 $ .9 $ 29.7 Average recorded investment* $ .4 $ 4.0 $ 30.3 $ 2.0 $ 36.7 * Represents the average during the 12 months ended September 30, 2017. DEALER CUSTOMER RETAIL OWNER/ At December 31, 2016 WHOLESALE RETAIL FLEET OPERATOR TOTAL Impaired loans with a specific reserve $ .1 $ 18.9 $ 1.8 $ 20.8 Associated allowance (.1 ) (2.8 ) (.3 ) (3.2 ) $ 16.1 $ 1.5 $ 17.6 Impaired loans with no specific reserve 10.8 .2 11.0 Net carrying amount of impaired loans $ 26.9 $ 1.7 $ 28.6 Average recorded investment* $ 3.7 $ 27.8 $ 2.4 $ 33.9 * Represents the average during the 12 months ended September 30, 2016. During the period the loans above were considered impaired, interest income recognized on a cash basis was as follows: Three Months Ended Nine Months Ended September 30 September 30 2017 2016 2017 2016 Interest income recognized: Customer retail - fleet $ .4 $ .2 $ 1.0 $ .8 Customer retail - owner/operator .1 .3 $ .4 $ .3 $ 1.0 $ 1.1 Credit Quality The Company's customers are principally concentrated in the transportation industry in North America, Europe and Australia. The Company’s portfolio assets are diversified over a large number of customers and dealers with no single customer or dealer balances representing over 5% of the total portfolio assets. The Company retains as collateral a security interest in the related equipment. At the inception of each contract, the Company considers the credit risk based on a variety of credit quality factors including prior payment experience, customer financial information, credit-rating agency ratings, loan-to-value ratios and other internal metrics. On an ongoing basis, the Company monitors credit quality based on past due status and collection experience as there is a meaningful correlation between the past due status of customers and the risk of loss. The Company has three credit quality indicators: performing, watch and at-risk. Performing accounts pay in accordance with the contractual terms and are not considered high-risk. Watch accounts include accounts 31 to 90 days past due and large accounts that are performing but are considered to be high‑risk. Watch accounts are not impaired. At-risk accounts are accounts that are impaired, including TDRs, accounts over 90 days past due and other accounts on non-accrual status. The tables below summarize the Company’s finance receivables by credit quality indicator and portfolio class. DEALER CUSTOMER RETAIL OWNER/ At September 30, 2017 WHOLESALE RETAIL FLEET OPERATOR TOTAL Performing $ 1,905.6 $ 1,327.0 $ 4,916.7 $ 1,197.5 $ 9,346.8 Watch 4.9 64.8 6.2 75.9 At-risk .1 4.1 42.1 7.3 53.6 $ 1,910.6 $ 1,331.1 $ 5,023.6 $ 1,211.0 $ 9,476.3 DEALER CUSTOMER RETAIL OWNER/ At December 31, 2016 WHOLESALE RETAIL FLEET OPERATOR TOTAL Performing $ 1,519.3 $ 1,406.0 $ 4,863.4 $ 922.1 $ 8,710.8 Watch 9.1 14.9 5.5 29.5 At-risk .1 50.4 6.9 57.4 $ 1,528.5 $ 1,406.0 $ 4,928.7 $ 934.5 $ 8,797.7 The tables below summarize the Company’s finance receivables by aging category. In determining past due status, the Company considers the entire contractual account balance past due when any installment is over 30 days past due. Substantially all customer accounts that were greater than 30 days past due prior to credit modification became current upon modification for aging purposes. DEALER CUSTOMER RETAIL OWNER/ At September 30, 2017 WHOLESALE RETAIL FLEET OPERATOR TOTAL Current and up to 30 days past due $ 1,910.3 $ 1,331.1 $ 4,987.0 $ 1,199.6 $ 9,428.0 31 – 60 days past due .2 15.7 5.6 21.5 Greater than 60 days past due .1 20.9 5.8 26.8 $ 1,910.6 $ 1,331.1 $ 5,023.6 $ 1,211.0 $ 9,476.3 DEALER CUSTOMER RETAIL OWNER/ At December 31, 2016 WHOLESALE RETAIL FLEET OPERATOR TOTAL Current and up to 30 days past due $ 1,528.4 $ 1,406.0 $ 4,898.4 $ 926.4 $ 8,759.2 31 – 60 days past due 12.6 3.9 16.5 Greater than 60 days past due .1 17.7 4.2 22.0 $ 1,528.5 $ 1,406.0 $ 4,928.7 $ 934.5 $ 8,797.7 Troubled Debt Restructurings The balance of TDRs was $40.6 and $43.1 at September 30, 2017 and December 31, 2016, respectively. At modification date, the pre-modification and post-modification recorded investment balances for finance receivables modified during the period by portfolio class are as follows: Three Months Ended Nine Months Ended September 30, 2017 September 30, 2017 RECORDED INVESTMENT RECORDED INVESTMENT PRE-MODIFICATION POST-MODIFICATION PRE-MODIFICATION POST-MODIFICATION Fleet $ .9 $ .9 $ 17.5 $ 17.5 Owner/operator .1 .1 .5 .5 $ 1.0 $ 1.0 $ 18.0 $ 18.0 Three Months Ended Nine Months Ended September 30, 2016 September 30, 2016 RECORDED INVESTMENT RECORDED INVESTMENT PRE-MODIFICATION POST-MODIFICATION PRE-MODIFICATION POST-MODIFICATION Fleet $ 9.1 $ 9.1 $ 23.1 $ 23.0 Owner/operator .4 .4 3.7 3.7 $ 9.5 $ 9.5 $ 26.8 $ 26.7 The effect on the allowance for credit losses from such modifications was not significant at September 30, 2017 and 2016. TDRs modified during the previous twelve months that subsequently defaulted (i.e., became more than 30 days past due) during the period by portfolio class are as follows: Nine Months Ended September 30, 2017 2016 Fleet $ 5.1 $ .1 Owner/operator .3 .4 $ 5.4 $ .5 There were $1.5 and $5.1 of finance receivables modified as TDRs during the previous twelve months that subsequently defaulted and were charged off in the nine months ended September 30, 2017 and 2016, respectively. Repossessions When the Company determines a customer is not likely to meet its contractual commitments, the Company repossesses the vehicles which serve as collateral for the loans, finance leases and equipment under operating leases. The Company records the vehicles as used truck inventory included in Financial Services Other assets on the Consolidated Balance Sheets. The balance of repossessed inventory at September 30, 2017 and December 31, 2016 was $20.4 and $25.4, respectively. Proceeds from the sales of repossessed assets were $44.7 and $34.2 for the nine months ended September 30, 2017 and 2016, respectively. These amounts are included in Proceeds from asset disposals in the Condensed Consolidated Statements of Cash Flows. Write-downs of repossessed equipment on operating leases are recorded as impairments and included in Financial Services depreciation and other expenses on the Consolidated Statements of Comprehensive Income.

Product Support Liabilities

Product Support Liabilities	9 Months Ended
	Sep. 30, 2017
Product Warranties Disclosures [Abstract]
Product Support Liabilities	NOTE E - Product Support Liabilities Product support liabilities include estimated future payments related to product warranties and deferred revenues on optional extended warranties and repair and maintenance (R&M) contracts. The Company generally offers one year warranties covering most of its vehicles and related aftermarket parts. For vehicles equipped with engines manufactured by PACCAR, the Company generally offers two year warranties on the engine. Specific terms and conditions vary depending on the product and the country of sale. Optional extended warranty and R&M contracts can be purchased for periods which generally range up to five years. Warranty expenses and reserves are estimated and recorded at the time products or contracts are sold based on historical data regarding the source, frequency and cost of claims, net of any recoveries. The Company periodically assesses the adequacy of its recorded liabilities and adjusts them as appropriate to reflect actual experience. Revenue from extended warranty and R&M contracts is deferred and recognized to income generally on a straight-line basis over the contract period. Warranty and R&M costs on these contracts are recognized as incurred. Changes in product support liabilities are summarized as follows: WARRANTY RESERVES 2017 2016 Balance at January 1 $ 282.1 $ 346.2 Cost accruals 168.7 159.7 Payments (177.6 ) (194.9 ) Change in estimates for pre-existing warranties .1 (2.5 ) Currency translation 12.6 (6.7 ) Balance at September 30 $ 285.9 $ 301.8 DEFERRED REVENUES ON EXTENDED WARRANTIES AND R&M CONTRACTS 2017 2016 Balance at January 1 $ 573.5 $ 524.8 Deferred revenues 272.3 276.5 Revenues recognized (239.6 ) (205.6 ) Currency translation 32.8 (7.2 ) Balance at September 30 $ 639.0 $ 588.5

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2017
Equity [Abstract]
Stockholders' Equity	NOTE F - Stockholders’ Equity Comprehensive Income The components of comprehensive income are as follows: Three Months Ended Nine Months Ended September 30 September 30 2017 2016 2017 2016 Net income $ 402.7 $ 346.2 $ 1,086.0 $ 232.9 Other comprehensive income (loss) (OCI): Unrealized gains (losses) on derivative contracts 1.9 5.1 (.1 ) 8.0 Tax effect (.7 ) (2.2 ) .2 (2.7 ) 1.2 2.9 .1 5.3 Unrealized (losses) gains on marketable debt securities (.4 ) (3.7 ) 2.5 2.1 Tax effect .1 1.2 (1.1 ) (.6 ) (.3 ) (2.5 ) 1.4 1.5 Pension plans .6 10.3 3.1 32.7 Tax effect (.6 ) (3.4 ) (1.9 ) (10.6 ) 6.9 1.2 22.1 Foreign currency translation gains (losses) 108.1 (6.9 ) 309.2 61.4 Net other comprehensive income 109.0 .4 311.9 90.3 Comprehensive income $ 511.7 $ 346.6 $ 1,397.9 $ 323.2 Accumulated Other Comprehensive Income (Loss) The components of AOCI and the changes in AOCI, net of tax, included in the Consolidated Balance Sheets consisted of the following: Three Months Ended September 30, 2017 DERIVATIVE CONTRACTS MARKETABLE DEBT SECURITIES PENSION PLANS FOREIGN CURRENCY TRANSLATION TOTAL Balance at July 1, 2017 $ (5.4 ) $ 1.4 $ (412.9 ) $ (508.3 ) $ (925.2 ) Recorded into AOCI (19.8 ) (.2 ) (4.5 ) 108.1 83.6 Reclassified out of AOCI 21.0 (.1 ) 4.5 25.4 Net other comprehensive income (loss) 1.2 (.3 ) 108.1 109.0 Balance at September 30, 2017 $ (4.2 ) $ 1.1 $ (412.9 ) $ (400.2 ) $ (816.2 ) Three Months Ended September 30, 2016 DERIVATIVE CONTRACTS MARKETABLE DEBT SECURITIES PENSION PLANS FOREIGN CURRENCY TRANSLATION TOTAL Balance at July 1, 2016 $ (4.0 ) $ 6.1 $ (375.2 ) $ (554.0 ) $ (927.1 ) Recorded into AOCI (7.9 ) (.7 ) 2.1 (6.9 ) (13.4 ) Reclassified out of AOCI 10.8 (1.8 ) 4.8 13.8 Net other comprehensive income (loss) 2.9 (2.5 ) 6.9 (6.9 ) .4 Balance at September 30, 2016 $ (1.1 ) $ 3.6 $ (368.3 ) $ (560.9 ) $ (926.7 ) Nine Months Ended September 30, 2017 DERIVATIVE CONTRACTS MARKETABLE DEBT SECURITIES PENSION PLANS FOREIGN CURRENCY TRANSLATION TOTAL Balance at January 1, 2017 $ (4.3 ) $ (.3 ) $ (414.1 ) $ (709.4 ) $ (1,128.1 ) Recorded into AOCI (93.9 ) 1.8 (12.3 ) 309.2 204.8 Reclassified out of AOCI 94.0 (.4 ) 13.5 107.1 Net other comprehensive income .1 1.4 1.2 309.2 311.9 Balance at September 30, 2017 $ (4.2 ) $ 1.1 $ (412.9 ) $ (400.2 ) $ (816.2 ) Nine Months Ended September 30, 2016 DERIVATIVE CONTRACTS MARKETABLE DEBT SECURITIES PENSION PLANS FOREIGN CURRENCY TRANSLATION TOTAL Balance at January 1, 2016 $ (6.4 ) $ 2.1 $ (390.4 ) $ (622.3 ) $ (1,017.0 ) Recorded into AOCI (33.9 ) 4.1 7.8 61.4 39.4 Reclassified out of AOCI 39.2 (2.6 ) 14.3 50.9 Net other comprehensive income 5.3 1.5 22.1 61.4 90.3 Balance at September 30, 2016 $ (1.1 ) $ 3.6 $ (368.3 ) $ (560.9 ) $ (926.7 ) Reclassifications out of AOCI during the three months ended September 30, 2017 and 2016 are as follows: Three Months Ended LINE ITEM IN THE CONSOLIDATED STATEMENTS OF September 30 AOCI COMPONENTS COMPREHENSIVE INCOME (LOSS) 2017 2016 Unrealized (gains) and losses on derivative contracts: Truck, Parts and Other Foreign-exchange contracts Net sales and revenues $ (3.0 ) $ (11.1 ) Cost of sales and revenues 5.5 Interest and other expense, net 1.0 (.3 ) Financial Services Interest-rate contracts Interest and other borrowing expenses 24.6 28.2 Pre-tax expense increase 28.1 16.8 Tax benefit (7.1 ) (6.0 ) After-tax expense increase 21.0 10.8 Unrealized gains on marketable debt securities: Marketable debt securities Investment income (.2 ) (2.4 ) Tax expense .1 .6 After-tax income increase (.1 ) (1.8 ) Pension plans: Truck, Parts and Other Actuarial loss Cost of sales and revenues 3.1 3.4 Selling, general and administrative 3.0 3.2 6.1 6.6 Prior service costs Cost of sales and revenues .2 .2 Selling, general and administrative .1 .1 .3 .3 Financial Services Actuarial loss Selling, general and administrative .2 .3 Pre-tax expense increase 6.6 7.2 Tax benefit (2.1 ) (2.4 ) After-tax expense increase 4.5 4.8 Total reclassifications out of AOCI $ 25.4 $ 13.8 Reclassifications out of AOCI during the nine months ended September 30, 2017 and 2016 are as follows: Nine Months Ended LINE ITEM IN THE CONSOLIDATED STATEMENTS OF September 30 AOCI COMPONENTS COMPREHENSIVE INCOME (LOSS) 2017 2016 Unrealized losses and (gains) on derivative contracts: Truck, Parts and Other Foreign-exchange contracts Net sales and revenues $ 13.3 $ (17.6 ) Cost of sales and revenues 4.3 .6 Interest and other expense, net 1.6 1.6 Financial Services Interest-rate contracts Interest and other borrowing expenses 110.4 78.5 Pre-tax expense increase 129.6 63.1 Tax benefit (35.6 ) (23.9 ) After-tax expense increase 94.0 39.2 Unrealized gains on marketable debt securities: Marketable debt securities Investment income (.6 ) (3.5 ) Tax expense .2 .9 After-tax income increase (.4 ) (2.6 ) Pension plans: Truck, Parts and Other Actuarial loss Cost of sales and revenues 9.2 10.3 Selling, general and administrative 9.1 9.7 18.3 20.0 Prior service costs Cost of sales and revenues .7 .7 Selling, general and administrative .2 .2 .9 .9 Financial Services Actuarial loss Selling, general and administrative .6 .8 Pre-tax expense increase 19.8 21.7 Tax benefit (6.3 ) (7.4 ) After-tax expense increase 13.5 14.3 Total reclassifications out of AOCI $ 107.1 $ 50.9 Stock Compensation Plans Stock-based compensation expense was $1.9 and $10.9 for the three and nine months ended September 30, 2017, respectively, and $2.0 and $11.1 for the three and nine months ended September 30, 2016, respectively. Realized tax benefits related to the excess of deductible amounts over expense recognized was nil for the three and nine months ended September 30, 2017 and $.1 and $.3 for the three and nine months ended September 30, 2016, respectively. During the first nine months of 2017, the Company issued 777,808 common shares under deferred and stock compensation arrangements.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2017
Income Tax Disclosure [Abstract]
Income Taxes	NOTE G - Income Taxes The effective tax rate for the third quarter of 2017 was 30.8% compared to 30.0% in the third quarter of 2016, primarily due to the increase in mix of income generated in jurisdictions with higher tax rates in 2017 as compared to 2016. For the first nine months, the effective tax rate was 30.8% in 2017 compared to 67.3% in 2016. Substantially all of the difference in tax rate was due to the non-deductible expense of $833.0 for the European Commission charge (EC charge) in 2016.

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2017
Segment Reporting [Abstract]
Segment Information	NOTE H - Segment Information PACCAR operates in three principal segments: Truck, Parts and Financial Services. The Company evaluates the performance of its Truck and Parts segments based on operating profits, which excludes investment income, other income and expense, the EC charge and income taxes. The Financial Services segment’s performance is evaluated based on income before income taxes. The accounting policies of the reportable segments are the same as those applied in the consolidated financial statements as described in Note A of the Company’s Annual Report on Form 10-K for the year ended December 31, 2016. Truck and Parts The Truck segment includes the design and manufacture of high-quality, light-, medium- and heavy-duty commercial trucks and the Parts segment includes the distribution of aftermarket parts for trucks and related commercial vehicles, both of which are sold through the same network of independent dealers. These segments derive a large proportion of their revenues and operating profits from operations in North America and Europe. The Truck segment incurs substantial costs to design, manufacture and sell trucks to its customers. The sale of new trucks provides the Parts segment with the basis for parts sales that may continue over the life of the truck, but are generally concentrated in the first five years after truck delivery. To reflect the benefit the Parts segment receives from costs incurred by the Truck segment, certain expenses are allocated from the Truck segment to the Parts segment. The expenses allocated are based on a percentage of the average annual expenses for factory overhead, engineering, research and development and selling, general and administrative (SG&A) expenses for the preceding five years. The allocation is based on the ratio of the average parts direct margin dollars (net sales less material and labor costs) to the total truck and parts direct margin dollars for the previous five years. The Company believes such expenses have been allocated on a reasonable basis. Truck segment assets related to the indirect expense allocation are not allocated to the Parts segment. Financial Services The Financial Services segment derives its earnings primarily from financing or leasing of PACCAR products and services provided to truck customers and dealers. Revenues are primarily generated from operations in North America and Europe. Other Included in Other is the Company’s industrial winch manufacturing business. Also within this category are other sales, income and expense not attributable to a reportable segment, including the EC charge and a portion of corporate expenses. Three Months Ended Nine Months Ended September 30 September 30 2017 2016 2017 2016 Net sales and revenues: Truck $ 4,065.6 $ 3,429.0 $ 11,131.8 $ 10,499.4 Less intersegment (198.2 ) (258.3 ) (580.7 ) (717.0 ) External customers 3,867.4 3,170.7 10,551.1 9,782.4 Parts 854.4 777.2 2,488.7 2,276.0 Less intersegment (14.4 ) (12.4 ) (38.9 ) (35.3 ) External customers 840.0 764.8 2,449.8 2,240.7 Other 24.1 17.7 64.2 56.5 4,731.5 3,953.2 13,065.1 12,079.6 Financial Services 328.2 296.2 936.7 883.0 $ 5,059.7 $ 4,249.4 $ 14,001.8 $ 12,962.6 Income (loss) before income taxes: Truck $ 357.4 $ 284.9 $ 922.8 $ 918.4 Parts 152.9 138.3 457.0 406.3 Other* (8.7 ) (7.8 ) (28.1 ) (862.4 ) 501.6 415.4 1,351.7 462.3 Financial Services 71.2 71.0 191.5 228.6 Investment income 9.0 8.5 25.8 20.6 $ 581.8 $ 494.9 $ 1,569.0 $ 711.5 Depreciation and amortization: Truck $ 122.4 $ 107.6 $ 340.5 $ 329.5 Parts 2.4 1.9 6.3 5.4 Other 5.7 3.9 13.7 11.7 130.5 113.4 360.5 346.6 Financial Services 155.6 136.8 453.8 399.0 $ 286.1 $ 250.2 $ 814.3 $ 745.6 * Other includes the $833.0 European Commission charge in the first half of 2016 (see Note L).

Derivative Financial Instrument

Derivative Financial Instruments	9 Months Ended
	Sep. 30, 2017
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	NOTE I - Derivative Financial Instruments As part of its risk management strategy, the Company enters into derivative contracts to hedge against interest rates and foreign currency risk. Certain derivative instruments designated as either cash flow hedges or fair value hedges are subject to hedge accounting. Derivative instruments that are not subject to hedge accounting are held as economic hedges. The Company’s policies prohibit the use of derivatives for speculation or trading. At the inception of each hedge relationship, the Company documents its risk management objectives, procedures and accounting treatment. All of the Company’s interest-rate and certain foreign-exchange contracts are transacted under International Swaps and Derivatives Association (ISDA) master agreements. Each agreement permits the net settlement of amounts owed in the event of default and certain other termination events. For derivative financial instruments, the Company has elected not to offset derivative positions in the balance sheet with the same counterparty under the same agreements and is not required to post or receive collateral. Exposure limits and minimum credit ratings are used to minimize the risks of counterparty default. The Company’s maximum exposure to potential default of its swap counterparties is limited to the asset position of its swap portfolio. The asset position of the Company’s swap portfolio is $47.8 at September 30, 2017. The Company uses regression analysis to assess effectiveness of interest-rate contracts on a quarterly basis. For foreign-exchange contracts, the Company performs quarterly assessments to ensure that critical terms continue to match. All components of the derivative instrument’s gain or loss are included in the assessment of hedge effectiveness. Gains or losses on the ineffective portion of cash flow hedges are recognized currently in earnings. Hedge accounting is discontinued prospectively when the Company determines that a derivative financial instrument has ceased to be a highly effective hedge. Interest-Rate Contracts: The Company enters into various interest-rate contracts, including interest-rate swaps and cross currency interest-rate swaps. Interest-rate swaps involve the exchange of fixed for floating rate or floating for fixed rate interest payments based on the contractual notional amounts in a single currency. Cross currency interest-rate swaps involve the exchange of notional amounts and interest payments in different currencies. The Company is exposed to interest-rate and exchange-rate risk caused by market volatility as a result of its borrowing activities. The objective of these contracts is to mitigate the fluctuations on earnings, cash flows and fair value of borrowings. Net amounts paid or received are reflected as adjustments to interest expense. At September 30, 2017, the notional amount of the Company’s interest-rate contracts was $2,879.5. Notional maturities for all interest-rate contracts are $129.5 for the remainder of 2017, $985.8 for 2018, $918.2 for 2019, $383.4 for 2020, $279.7 for 2021, $150.3 for 2022 and $32.6 thereafter. Foreign-Exchange Contracts: The Company enters into foreign-exchange contracts to hedge certain anticipated transactions and assets and liabilities denominated in foreign currencies, particularly the Canadian dollar, the euro, the British pound, the Australian dollar, the Brazilian real and the Mexican peso. The objective is to reduce fluctuations in earnings and cash flows associated with changes in foreign currency exchange rates. At September 30, 2017, the notional amount of the outstanding foreign-exchange contracts was $411.9. Foreign-exchange contracts mature within one year. The following table presents the balance sheet classification, fair value, gross and pro forma net amounts of derivative financial instruments: September 30, 2017 December 31, 2016 ASSETS LIABILITIES ASSETS LIABILITIES Derivatives designated under hedge accounting: Interest-rate contracts: Financial Services: Other assets $ 47.8 $ 109.7 Deferred taxes and other liabilities $ 91.3 $ 46.3 Foreign-exchange contracts: Truck, Parts and Other: Other current assets 1.6 3.9 Accounts payable, accrued expenses and other 4.4 1.9 $ 49.4 $ 95.7 $ 113.6 $ 48.2 Economic hedges: Interest-rate contracts: Financial Services: Deferred taxes and other liabilities $ .1 Foreign-exchange contracts: Truck, Parts and Other: Other current assets $ .3 $ .8 Accounts payable, accrued expenses and other $ .8 .3 Financial Services: Other assets 2.0 4.0 Deferred taxes and other liabilities .6 .7 $ 2.3 $ 1.4 $ 4.8 $ 1.1 Gross amounts recognized in Balance Sheets $ 51.7 $ 97.1 $ 118.4 $ 49.3 Less amounts not offset in financial instruments: Truck, Parts and Other: Foreign-exchange contracts (1.1 ) (1.1 ) (1.0 ) (1.0 ) Financial Services: Interest-rate contracts (9.6 ) (9.6 ) (15.4 ) (15.4 ) Foreign-exchange contracts (.1 ) (.1 ) Pro forma net amount $ 41.0 $ 86.4 $ 101.9 $ 32.8 Fair Value Hedges Changes in the fair value of derivatives designated as fair value hedges are recorded in earnings together with the changes in fair value of the hedged item attributable to the risk being hedged. The (income) or expense recognized in earnings related to fair value hedges was included in interest and other borrowing expenses in the Financial Services segment of the Consolidated Statements of Comprehensive Income as follows: Three Months Ended Nine Months Ended September 30 September 30 2017 2016 2017 2016 Interest-rate swaps $ .4 $ 3.7 $ 1.0 $ (1.3 ) Term notes (.2 ) (3.8 ) (.6 ) .6 Cash Flow Hedges Substantially all of the Company’s interest-rate contracts and some foreign-exchange contracts have been designated as cash flow hedges. Changes in the fair value of derivatives designated as cash flow hedges are recorded in AOCI to the extent such hedges are considered effective. Amounts in AOCI are reclassified into net income in the same period in which the hedged transaction affects earnings. The maximum length of time over which the Company is hedging its exposure to the variability in future cash flows is 9.8 years. For the three and nine month period ended September 30, 2017 and 2016, the Company recognized no gains or losses on the ineffective portion. The following table presents the pre-tax effects of derivative instruments recognized in other comprehensive income (loss) (OCI): Three Months Ended Nine Months Ended September 30, 2017 September 30, 2017 INTEREST- FOREIGN- INTEREST- FOREIGN- RATE EXCHANGE RATE EXCHANGE CONTRACTS CONTRACTS CONTRACTS CONTRACTS Loss recognized in OCI: Truck, Parts and Other $ (3.0 ) $ (23.4 ) Financial Services $ (23.2 ) $ (106.3 ) $ (23.2 ) $ (3.0 ) $ (106.3 ) $ (23.4 ) Three Months Ended Nine Months Ended September 30, 2016 September 30, 2016 INTEREST- FOREIGN- INTEREST- FOREIGN- RATE EXCHANGE RATE EXCHANGE CONTRACTS CONTRACTS CONTRACTS CONTRACTS Gain (loss) recognized in OCI: Truck, Parts and Other $ 13.9 $ 23.8 Financial Services $ (25.6 ) $ (78.9 ) $ (25.6 ) $ 13.9 $ (78.9 ) $ 23.8 Expense (income) reclassified out of AOCI into income was as follows: Three Months Ended Nine Months Ended September 30, 2017 September 30, 2017 INTEREST- FOREIGN- INTEREST- FOREIGN- RATE EXCHANGE RATE EXCHANGE CONTRACTS CONTRACTS CONTRACTS CONTRACTS Truck, Parts and Other: Net sales and revenues $ (3.0 ) $ 13.3 Cost of sales and revenues 5.5 4.3 Interest and other expense, net 1.0 1.6 Financial Services: Interest and other borrowing expenses $ 24.6 $ 110.4 Total $ 24.6 $ 3.5 $ 110.4 $ 19.2 Three Months Ended Nine Months Ended September 30, 2016 September 30, 2016 INTEREST- FOREIGN- INTEREST- FOREIGN- RATE EXCHANGE RATE EXCHANGE CONTRACTS CONTRACTS CONTRACTS CONTRACTS Truck, Parts and Other: Net sales and revenues $ (11.1 ) $ (17.6 ) Cost of sales and revenues .6 Interest and other expense, net (.3 ) 1.6 Financial Services: Interest and other borrowing expenses $ 28.2 $ 78.5 Total $ 28.2 $ (11.4 ) $ 78.5 $ (15.4 ) The amount of loss recorded in AOCI at September 30, 2017 that is estimated to be reclassified into earnings in the following 12 months if interest rates and exchange rates remain unchanged is approximately $2.3, net of taxes. The fixed interest earned on finance receivables will offset the amount recognized in interest expense, resulting in a stable interest margin consistent with the Company’s risk management strategy. The amount of gains (losses) reclassified out of AOCI into net income based on the probability that the original forecasted transactions would not occur was nil for the three and nine months ended September 30, 2017, respectively, and nil and $.3 for the three and nine month periods ended September 30, 2016, respectively. Economic Hedges For other risk management purposes, the Company enters into derivative instruments that do not qualify for hedge accounting. These derivative instruments are used to mitigate the risk of market volatility arising from borrowings and foreign currency denominated transactions. Changes in the fair value of economic hedges are recorded in earnings in the period in which the change occurs. The expense (income) recognized in earnings related to economic hedges was as follows: Three Months Ended Nine Months Ended September 30, 2017 September 30, 2017 INTEREST- FOREIGN- INTEREST- FOREIGN- RATE EXCHANGE RATE EXCHANGE CONTRACTS CONTRACTS CONTRACTS CONTRACTS Truck, Parts and Other: Cost of sales and revenues $ .6 $ 1.3 Interest and other expense, net (1.0 ) 3.2 Financial Services: Interest and other borrowing expenses 4.8 $ (.1 ) 43.4 Selling, general and administrative .8 Total $ 4.4 $ (.1 ) $ 48.7 Three Months Ended Nine Months Ended September 30, 2016 September 30, 2016 INTEREST- FOREIGN- INTEREST- FOREIGN- RATE EXCHANGE RATE EXCHANGE CONTRACTS CONTRACTS CONTRACTS CONTRACTS Truck, Parts and Other: Net sales and revenues $ (.4 ) $ (.4 ) Cost of sales and revenues .3 1.4 Interest and other expense, net (1.3 ) (.5 ) Financial Services: Interest and other borrowing expenses $ .1 (3.1 ) $ .1 (11.3 ) Selling, general and administrative (.9 ) (2.5 ) Total $ .1 $ (5.4 ) $ .1 $ (13.3 )

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2017
Fair Value Disclosures [Abstract]
Fair Value Measurements	NOTE J - Fair Value Measurements Fair value represents the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the Level 1 – Valuations are based on quoted prices that the Company has the ability to obtain in actively traded markets for identical assets or liabilities. Since valuations are based on quoted prices that are readily and regularly available in an active market or exchange traded market, valuation of these instruments does not require a significant degree of judgment. Level 2 – Valuations are based on quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market. Level 3 – Valuations are based on model-based techniques for which some or all of the assumptions are obtained from indirect market information that is significant to the overall fair value measurement and which require a significant degree of management judgment. There were no transfers of assets or liabilities between Level 1 and Level 2 of the fair value hierarchy during the nine months ended September 30, 2017. The Company’s policy is to recognize transfers between levels at the end of the reporting period. The Company uses the following methods and assumptions to measure fair value for assets and liabilities subject to recurring fair value measurements. Marketable Securities: The Company’s marketable debt securities consist of municipal bonds, government obligations, investment-grade corporate obligations, commercial paper, asset-backed securities and term deposits. The fair value of U.S. government obligations is determined using the market approach and is based on quoted prices in active markets and are categorized as Level 1. The fair value of U.S. government agency obligations, non-U.S. government bonds, municipal bonds, corporate bonds, asset-backed securities, commercial paper and term deposits is determined using the market approach and is primarily based on matrix pricing as a practical expedient which does not rely exclusively on quoted prices for a specific security. Significant inputs used to determine fair value include interest rates, yield curves, credit rating of the security and other observable market information and are categorized as Level 2. Derivative Financial Instruments: The Company’s derivative contracts consist of interest-rate swaps, cross currency swaps and foreign currency exchange contracts. These derivative contracts are traded over the counter, and their fair value is determined using industry standard valuation models, which are based on the income approach (i.e. discounted cash flows). The significant observable inputs into the valuation models include interest rates, yield curves, currency exchange rates, credit default swap spreads and forward rates and are categorized as Level 2. Assets and Liabilities Subject to Recurring Fair Value Measurement The Company’s assets and liabilities subject to recurring fair value measurements are either Level 1 or Level 2 as follows: At September 30, 2017 LEVEL 1 LEVEL 2 TOTAL Assets: Marketable debt securities U.S. tax-exempt securities $ 522.0 $ 522.0 U.S. corporate securities 58.9 58.9 U.S. government and agency securities $ 12.2 12.2 Non-U.S. corporate securities 397.9 397.9 Non-U.S. government securities 97.2 97.2 Other debt securities 127.8 127.8 Total marketable debt securities $ 12.2 $ 1,203.8 $ 1,216.0 Derivatives Cross currency swaps $ 43.2 $ 43.2 Interest-rate swaps 4.6 4.6 Foreign-exchange contracts 3.9 3.9 Total derivative assets $ 51.7 $ 51.7 Liabilities: Derivatives Cross currency swaps $ 84.1 $ 84.1 Interest-rate swaps 7.2 7.2 Foreign-exchange contracts 5.8 5.8 Total derivative liabilities $ 97.1 $ 97.1 At December 31, 2016 LEVEL 1 LEVEL 2 TOTAL Assets: Marketable debt securities U.S. tax-exempt securities $ 595.0 $ 595.0 U.S. corporate securities 47.8 47.8 U.S. government and agency securities $ 15.4 .6 16.0 Non-U.S. corporate securities 308.0 308.0 Non-U.S. government securities 98.2 98.2 Other debt securities 75.9 75.9 Total marketable debt securities $ 15.4 $ 1,125.5 $ 1,140.9 Derivatives Cross currency swaps $ 102.7 $ 102.7 Interest-rate swaps 7.0 7.0 Foreign-exchange contracts 8.7 8.7 Total derivative assets $ 118.4 $ 118.4 Liabilities: Derivatives Cross currency swaps $ 37.1 $ 37.1 Interest-rate swaps 9.3 9.3 Foreign-exchange contracts 2.9 2.9 Total derivative liabilities $ 49.3 $ 49.3 Fair Value Disclosure of Other Financial Instruments For financial instruments that are not recognized at fair value, the Company uses the following methods and assumptions to determine the fair value. These instruments are categorized as Level 2, except cash which is categorized as Level 1 and fixed rate loans which are categorized as Level 3. Cash and Cash Equivalents: Carrying amounts approximate fair value. Financial Services Net Receivables: For floating-rate loans, wholesale financings, and operating lease and other trade receivables, carrying values approximate fair values. For fixed rate loans, fair values are estimated using the income approach by discounting cash flows to their present value based on current rates for comparable loans. Finance lease receivables and related allowance for credit losses have been excluded from the accompanying table. Debt: The carrying amounts of financial services commercial paper, variable rate bank loans and variable rate term notes approximate fair value. For fixed rate debt, fair values are estimated using the income approach by discounting cash flows to their present value based on current rates for comparable debt. The Company’s estimate of fair value for fixed rate loans and debt that are not carried at fair value was as follows: September 30, 2017 December 31, 2016 CARRYING FAIR CARRYING FAIR AMOUNT VALUE AMOUNT VALUE Assets: Financial Services fixed rate loans $ 3,612.6 $ 3,622.4 $ 3,607.4 $ 3,638.4 Liabilities: Financial Services fixed rate debt 5,372.5 5,378.6 4,915.2 4,929.3

Employee Benefit Plans

Employee Benefit Plans	9 Months Ended
	Sep. 30, 2017
Compensation And Retirement Disclosure [Abstract]
Employee Benefit Plans	NOTE K - Employee Benefit Plans The Company has several defined benefit pension plans, which cover a majority of its employees. The following information details the components of net pension expense for the Company’s defined benefit plans: Three Months Ended Nine Months Ended September 30 September 30 2017 2016 2017 2016 Service cost $ 23.5 $ 22.2 $ 69.5 $ 66.7 Interest on projected benefit obligation 20.5 23.4 60.9 71.1 Expected return on assets (40.1 ) (35.2 ) (119.5 ) (106.9 ) Amortization of prior service costs .3 .3 .9 .9 Recognized actuarial loss 6.3 6.9 18.9 20.8 Net pension expense $ 10.5 $ 17.6 $ 30.7 $ 52.6 On January 1, 2017, the Company changed the method used to estimate service cost and interest cost components of pension expense from a single weighted-average method, which is a single discount rate determined at the pension plans measurement date, to an individual spot rate approach, which applies specific spot rates along the yield curve to the relevant projected cash flows. This approach is a more precise measurement of net periodic benefit costs and does not impact the benefit obligation. The Company considers this a change in estimate inseparable from a change in accounting principle and is being accounted for prospectively. This change will lower net pension expense by approximately $15.0 in 2017. During the three and nine months ended September 30, 2017, the Company contributed $4.9 and $ 15.3 to its pension plans, respectively, and $5.8 and $65.1 for the three and nine months ended September 30, 2016, respectively.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2017
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	NOTE L – Commitments and Contingencies In the first half of 2016, the Company recorded a charge of €752.7 ($833.0) in connection with an investigation by the EC of all major European truck manufacturers, including DAF Trucks N.V., its subsidiary DAF Trucks Deutschland GmbH (collectively, “DAF”) and the Company as their parent. On July 19, 2016, the EC reached a settlement with DAF and the Company under which the EC imposed a fine of €752.7 ($833.0) for infringement of European Union competition rules. DAF paid the fine in August 2016. Following the EC settlement, claims and a petition to certify a claim as a class action have been filed against DAF and other truck manufacturers. Others may bring EC-related claims against the Company or its subsidiaries. While the Company believes it has meritorious defenses, such claims will likely take a significant period of time to resolve, and it is not possible to estimate a range of potential loss. An adverse outcome of such proceedings could have a material impact on the Company’s results of operations. The Company is a defendant in various legal proceedings and, in addition, there are various other contingent liabilities arising in the normal course of business. After consultation with legal counsel, management does not anticipate that disposition of these various proceedings and contingent liabilities will have a material effect on the consolidated financial statements.

Accounting Policies (Policies)

Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Investment in Marketable Debt Securities	The Company's investments in marketable debt securities are classified as available-for-sale. These investments are stated at fair value with any unrealized gains or losses, net of tax, included as a component of accumulated other comprehensive income (loss) (AOCI). The Company utilizes third-party pricing services for all of its marketable debt security valuations. The Company reviews the pricing methodology used by the third‑party pricing services, including the manner employed to collect market information. On a quarterly basis, the Company also performs review and validation procedures on the pricing information received from the third‑party providers. These procedures help ensure that the fair value information used by the Company is determined in accordance with applicable accounting guidance. The Company evaluates its investment in marketable debt securities at the end of each reporting period to determine if a decline in fair value is other-than-temporary. Realized losses are recognized upon management’s determination that a decline in fair value is other-than-temporary. The determination of other-than-temporary impairment is a subjective process, requiring the use of judgments and assumptions regarding the amount and timing of recovery. The Company reviews and evaluates its investments at least quarterly to identify investments that have indications of other-than-temporary impairments. It is reasonably possible that a change in estimate could occur in the near term relating to other-than-temporary impairment. Accordingly, the Company considers several factors when evaluating debt securities for other-than-temporary impairment, including whether the decline in fair value of the security is due to increased default risk for the specific issuer or market interest-rate risk. In assessing default risk, the Company considers the collectability of principal and interest payments by monitoring changes to issuers’ credit ratings, specific credit events associated with individual issuers as well as the credit ratings of any financial guarantor, and the extent and duration to which amortized cost exceeds fair value. In assessing market interest rate risk, including benchmark interest rates and credit spreads, the Company considers its intent for selling the securities and whether it is more likely than not the Company will be able to hold these securities until the recovery of any unrealized losses.
Inventories	Inventories are stated at the lower of cost or market. Cost of inventories in the U.S. is determined principally by the last‑in, first-out (LIFO) method. Cost of all other inventories is determined principally by the first-in, first-out (FIFO) method.
Allowance for Credit Losses	Allowance for Credit Losses The Company continuously monitors the payment performance of its finance receivables. For large retail finance customers and dealers with wholesale financing, the Company regularly reviews their financial statements and makes site visits and phone contact as appropriate. If the Company becomes aware of circumstances that could cause those customers or dealers to face financial difficulty, whether or not they are past due, the customers are placed on a watch list. The Company modifies loans and finance leases in the normal course of its Financial Services operations. The Company may modify loans and finance leases for commercial reasons or for credit reasons. Modifications for commercial reasons are changes to contract terms for customers that are not considered to be in financial difficulty. Insignificant delays are modifications extending terms up to three months for customers experiencing some short-term financial stress, but not considered to be in financial difficulty. Modifications for credit reasons are changes to contract terms for customers considered to be in financial difficulty. The Company’s modifications typically result in granting more time to pay the contractual amounts owed and charging a fee and interest for the term of the modification. When considering whether to modify customer accounts for credit reasons, the Company evaluates the creditworthiness of the customers and modifies those accounts that the Company considers likely to perform under the modified terms. When the Company modifies loans and finance leases for credit reasons and grants a concession, the modifications are classified as troubled debt restructurings (TDR). The Company does not typically grant credit modifications for customers that do not meet minimum underwriting standards since the Company normally repossesses the financed equipment in these circumstances. When such modifications do occur, they are considered TDRs. On average, modifications extended contractual terms by approximately four months in 2017 and 2016 and did not have a significant effect on the weighted average term or interest rate of the total portfolio at September 30, 2017 and December 31, 2016. The Company has developed a systematic methodology for determining the allowance for credit losses for its two portfolio segments, retail and wholesale. The retail segment consists of retail loans and direct and sales-type finance leases, net of unearned interest. The wholesale segment consists of truck inventory financing loans to dealers that are collateralized by trucks and other collateral. The wholesale segment generally has less risk than the retail segment. Wholesale receivables generally are shorter in duration than retail receivables, and the Company requires periodic reporting of the wholesale dealer’s financial condition, conducts periodic audits of the trucks being financed and in many cases, obtains guarantees or other security such as dealership assets. In determining the allowance for credit losses, retail loans and finance leases are evaluated together since they relate to a similar customer base, their contractual terms require regular payment of principal and interest, generally over 36 to 60 months, and they are secured by the same type of collateral. The allowance for credit losses consists of both specific and general reserves. The Company individually evaluates certain finance receivables for impairment. Finance receivables that are evaluated individually for impairment consist of all wholesale accounts and certain large retail accounts with past due balances or otherwise determined to be at a higher risk of loss. A finance receivable is impaired if it is considered probable the Company will be unable to collect all contractual interest and principal payments as scheduled. In addition, all retail loans and leases which have been classified as TDRs and all customer accounts over 90 days past due are considered impaired. Generally, impaired accounts are on non-accrual status. Impaired accounts classified as TDRs which have been performing for 90 consecutive days are placed on accrual status if it is deemed probable that the Company will collect all principal and interest payments. Impaired receivables are generally considered collateral dependent. Large balance retail and all wholesale impaired receivables are individually evaluated to determine the appropriate reserve for losses. The determination of reserves for large balance impaired receivables considers the fair value of the associated collateral. When the underlying collateral fair value exceeds the Company’s recorded investment, no reserve is recorded. Small balance impaired receivables with similar risk characteristics are evaluated as a separate pool to determine the appropriate reserve for losses using the historical loss information discussed below. The Company evaluates finance receivables that are not individually impaired on a collective basis and determines the general allowance for credit losses for both retail and wholesale receivables based on historical loss information, using past due account data and current market conditions. Information used includes assumptions regarding the likelihood of collecting current and past due accounts, repossession rates, the recovery rate on the underlying collateral based on used truck values and other pledged collateral or recourse. The Company has developed a range of loss estimates for each of its country portfolios based on historical experience, taking into account loss frequency and severity in both strong and weak truck market conditions. A projection is made of the range of estimated credit losses inherent in the portfolio from which an amount is determined as probable based on current market conditions and other factors impacting the creditworthiness of the Company’s borrowers and their ability to repay. After determining the appropriate level of the allowance for credit losses, a provision for losses on finance receivables is charged to income as necessary to reflect management’s estimate of incurred credit losses, net of recoveries, inherent in the portfolio. In determining the fair value of the collateral, the Company uses a pricing matrix and categorizes the fair value as Level 2 in the hierarchy of fair value measurement. The pricing matrix is reviewed quarterly and updated as appropriate. The pricing matrix considers the make, model and year of the equipment as well as recent sales prices of comparable equipment sold individually, which is the lowest unit of account, through wholesale channels to the Company’s dealers (principal market). The fair value of the collateral also considers the overall condition of the equipment. Accounts are charged-off against the allowance for credit losses when, in the judgment of management, they are considered uncollectible, which generally occurs upon repossession of the collateral. Typically the timing between the repossession and charge-off is not significant. In cases where repossession is delayed (e.g., for legal proceedings), the Company records a partial charge-off. The charge-off is determined by comparing the fair value of the collateral, less cost to sell, to the recorded investment.
Product Support Liabilities	Product support liabilities include estimated future payments related to product warranties and deferred revenues on optional extended warranties and repair and maintenance (R&M) contracts. The Company generally offers one year warranties covering most of its vehicles and related aftermarket parts. For vehicles equipped with engines manufactured by PACCAR, the Company generally offers two year warranties on the engine. Specific terms and conditions vary depending on the product and the country of sale. Optional extended warranty and R&M contracts can be purchased for periods which generally range up to five years. Warranty expenses and reserves are estimated and recorded at the time products or contracts are sold based on historical data regarding the source, frequency and cost of claims, net of any recoveries. The Company periodically assesses the adequacy of its recorded liabilities and adjusts them as appropriate to reflect actual experience. Revenue from extended warranty and R&M contracts is deferred and recognized to income generally on a straight-line basis over the contract period. Warranty and R&M costs on these contracts are recognized as incurred.
Derivative Financial Instruments	As part of its risk management strategy, the Company enters into derivative contracts to hedge against interest rates and foreign currency risk. Certain derivative instruments designated as either cash flow hedges or fair value hedges are subject to hedge accounting. Derivative instruments that are not subject to hedge accounting are held as economic hedges. The Company’s policies prohibit the use of derivatives for speculation or trading. At the inception of each hedge relationship, the Company documents its risk management objectives, procedures and accounting treatment. All of the Company’s interest-rate and certain foreign-exchange contracts are transacted under International Swaps and Derivatives Association (ISDA) master agreements. Each agreement permits the net settlement of amounts owed in the event of default and certain other termination events. For derivative financial instruments, the Company has elected not to offset derivative positions in the balance sheet with the same counterparty under the same agreements and is not required to post or receive collateral. Exposure limits and minimum credit ratings are used to minimize the risks of counterparty default. The Company’s maximum exposure to potential default of its swap counterparties is limited to the asset position of its swap portfolio. The asset position of the Company’s swap portfolio is $47.8 at September 30, 2017. The Company uses regression analysis to assess effectiveness of interest-rate contracts on a quarterly basis. For foreign-exchange contracts, the Company performs quarterly assessments to ensure that critical terms continue to match. All components of the derivative instrument’s gain or loss are included in the assessment of hedge effectiveness. Gains or losses on the ineffective portion of cash flow hedges are recognized currently in earnings. Hedge accounting is discontinued prospectively when the Company determines that a derivative financial instrument has ceased to be a highly effective hedge.
Fair Value Measurement Policy	Fair value represents the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the Level 1 – Valuations are based on quoted prices that the Company has the ability to obtain in actively traded markets for identical assets or liabilities. Since valuations are based on quoted prices that are readily and regularly available in an active market or exchange traded market, valuation of these instruments does not require a significant degree of judgment. Level 2 – Valuations are based on quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market. Level 3 – Valuations are based on model-based techniques for which some or all of the assumptions are obtained from indirect market information that is significant to the overall fair value measurement and which require a significant degree of management judgment. There were no transfers of assets or liabilities between Level 1 and Level 2 of the fair value hierarchy during the nine months ended September 30, 2017. The Company’s policy is to recognize transfers between levels at the end of the reporting period. The Company uses the following methods and assumptions to measure fair value for assets and liabilities subject to recurring fair value measurements. Marketable Securities: The Company’s marketable debt securities consist of municipal bonds, government obligations, investment-grade corporate obligations, commercial paper, asset-backed securities and term deposits. The fair value of U.S. government obligations is determined using the market approach and is based on quoted prices in active markets and are categorized as Level 1. The fair value of U.S. government agency obligations, non-U.S. government bonds, municipal bonds, corporate bonds, asset-backed securities, commercial paper and term deposits is determined using the market approach and is primarily based on matrix pricing as a practical expedient which does not rely exclusively on quoted prices for a specific security. Significant inputs used to determine fair value include interest rates, yield curves, credit rating of the security and other observable market information and are categorized as Level 2. Derivative Financial Instruments: The Company’s derivative contracts consist of interest-rate swaps, cross currency swaps and foreign currency exchange contracts. These derivative contracts are traded over the counter, and their fair value is determined using industry standard valuation models, which are based on the income approach (i.e. discounted cash flows). The significant observable inputs into the valuation models include interest rates, yield curves, currency exchange rates, credit default swap spreads and forward rates and are categorized as Level 2.

Basis of Presentation (Tables)

Basis of Presentation (Tables)	9 Months Ended
	Sep. 30, 2017
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Dilutive and Antidilutive Options	The dilutive and antidilutive options are shown separately in the table below. Three Months Ended Nine Months Ended September 30 September 30 2017 2016 2017 2016 Additional shares 1,035,000 738,500 1,021,000 679,400 Antidilutive options 599,400 1,099,600 695,900 1,943,500

Investments in Marketable Deb20

Investments in Marketable Debt Securities (Tables)	9 Months Ended
	Sep. 30, 2017
Investments Debt And Equity Securities [Abstract]
Marketable Debt Securities	Marketable debt securities at September 30, 2017 and December 31, 2016 consisted of the following: AMORTIZED UNREALIZED UNREALIZED FAIR At September 30, 2017 COST GAINS LOSSES VALUE U.S. tax-exempt securities $ 520.8 $ 1.3 $ .1 $ 522.0 U.S. corporate securities 58.6 .3 58.9 U.S. government and agency securities 12.2 12.2 Non-U.S. corporate securities 397.7 1.4 1.2 397.9 Non-U.S. government securities 97.0 .3 .1 97.2 Other debt securities 128.1 .1 .4 127.8 $ 1,214.4 $ 3.4 $ 1.8 $ 1,216.0 AMORTIZED UNREALIZED UNREALIZED FAIR At December 31, 2016 COST GAINS LOSSES VALUE U.S. tax-exempt securities $ 597.9 $ .2 $ 3.1 $ 595.0 U.S. corporate securities 47.6 .2 47.8 U.S. government and agency securities 16.0 16.0 Non-U.S. corporate securities 306.9 1.5 .4 308.0 Non-U.S. government securities 97.6 .6 98.2 Other debt securities 75.9 .2 .2 75.9 $ 1,141.9 $ 2.7 $ 3.7 $ 1,140.9
Marketable Debt Securities Continuous Unrealized Losses	Marketable debt securities with continuous unrealized losses and their related fair values were as follows: September 30, 2017 December 31, 2016 LESS THAN TWELVE MONTHS LESS THAN TWELVE MONTHS TWELVE MONTHS OR GREATER TWELVE MONTHS OR GREATER Fair value $ 409.8 $ 11.3 $ 615.5 Unrealized losses 1.7 .1 3.7
Contractual Maturities of Debt Securities	Contractual maturities on marketable debt securities at September 30, 2017 AMORTIZED FAIR Maturities: COST VALUE Within one year $ 404.4 $ 404.6 One to five years 800.9 802.3 More than ten years 9.1 9.1 $ 1,214.4 $ 1,216.0

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2017
Inventory Disclosure [Abstract]
Inventories Table	Inventories include the following: September 30 December 31 2017 2016 Finished products $ 574.1 $ 452.3 Work in process and raw materials 581.6 444.7 1,155.7 897.0 Less LIFO reserve (172.7 ) (169.2 ) $ 983.0 $ 727.8

Finance and Other Receivables (

Finance and Other Receivables (Tables)	9 Months Ended
	Sep. 30, 2017
Receivables [Abstract]
Finance and Other Receivables	Finance and other receivables include the following: September 30 December 31 2017 2016 Loans $ 4,024.3 $ 3,948.6 Direct financing leases 3,142.1 2,798.0 Sales-type finance leases 761.3 867.3 Dealer wholesale financing 1,910.6 1,528.5 Operating lease receivables and other 192.1 150.9 Unearned interest: Finance leases (362.0 ) (344.7 ) $ 9,668.4 $ 8,948.6 Less allowance for losses: Loans and leases (104.0 ) (97.1 ) Dealer wholesale financing (6.5 ) (5.5 ) Operating lease receivables and other (9.2 ) (8.6 ) $ 9,548.7 $ 8,837.4
Allowance for Credit Losses	The allowance for credit losses is summarized as follows: 2017 DEALER CUSTOMER WHOLESALE RETAIL RETAIL OTHER* TOTAL Balance at January 1 $ 5.5 $ 9.6 $ 87.5 $ 8.6 $ 111.2 Provision for losses .4 (.6 ) 17.2 .4 17.4 Charge-offs (17.7 ) (.6 ) (18.3 ) Recoveries 3.3 .2 3.5 Currency translation and other .6 .2 4.5 .6 5.9 Balance at September 30 $ 6.5 $ 9.2 $ 94.8 $ 9.2 $ 119.7 2016 DEALER CUSTOMER WHOLESALE RETAIL RETAIL OTHER* TOTAL Balance at January 1 $ 7.3 $ 10.3 $ 88.9 $ 8.3 $ 114.8 Provision for losses (1.0 ) (.7 ) 14.5 1.7 14.5 Charge-offs (17.0 ) (1.9 ) (18.9 ) Recoveries 4.0 .1 4.1 Currency translation and other .2 .1 (.6 ) .2 (.1 ) Balance at September 30 $ 6.5 $ 9.7 $ 89.8 $ 8.4 $ 114.4 * Operating leases and other trade receivables.
Finance Receivable Evaluated and Determined Individually and Collectively	Information regarding finance receivables evaluated and determined individually and collectively is as follows: DEALER CUSTOMER At September 30, 2017 WHOLESALE RETAIL RETAIL TOTAL Recorded investment for impaired finance receivables evaluated individually $ .1 $ 4.1 $ 49.4 $ 53.6 Allowance for impaired finance receivables determined individually .1 7.6 7.7 Recorded investment for finance receivables evaluated collectively 1,910.5 1,327.0 6,185.2 9,422.7 Allowance for finance receivables determined collectively 6.4 9.2 87.2 102.8 DEALER CUSTOMER At December 31, 2016 WHOLESALE RETAIL RETAIL TOTAL Recorded investment for impaired finance receivables evaluated individually $ .1 $ 57.3 $ 57.4 Allowance for impaired finance receivables determined individually .1 4.9 5.0 Recorded investment for finance receivables evaluated collectively 1,528.4 $ 1,406.0 5,805.9 8,740.3 Allowance for finance receivables determined collectively 5.4 9.6 82.6 97.6
Recorded Investment for Finance Receivables that are on Non-Accrual Status	The recorded investment for finance receivables that are on non-accrual status is as follows: September 30 December 31 2017 2016 Dealer: Wholesale $ .1 $ .1 Customer retail: Fleet 41.5 49.5 Owner/operator 7.3 6.9 $ 48.9 $ 56.5
Impaired Loans and Specific Reserve	The recorded investment of impaired loans as of September 30, 2017 and December 31, 2016 was not significantly different than the unpaid principal balance. DEALER CUSTOMER RETAIL OWNER/ At September 30, 2017 WHOLESALE RETAIL FLEET OPERATOR TOTAL Impaired loans with a specific reserve $ .1 $ 20.0 $ 1.2 $ 21.3 Associated allowance (.1 ) (3.8 ) (.3 ) (4.2 ) $ 16.2 $ .9 $ 17.1 Impaired loans with no specific reserve $ 4.1 8.5 12.6 Net carrying amount of impaired loans $ 4.1 $ 24.7 $ .9 $ 29.7 Average recorded investment* $ .4 $ 4.0 $ 30.3 $ 2.0 $ 36.7 * Represents the average during the 12 months ended September 30, 2017. DEALER CUSTOMER RETAIL OWNER/ At December 31, 2016 WHOLESALE RETAIL FLEET OPERATOR TOTAL Impaired loans with a specific reserve $ .1 $ 18.9 $ 1.8 $ 20.8 Associated allowance (.1 ) (2.8 ) (.3 ) (3.2 ) $ 16.1 $ 1.5 $ 17.6 Impaired loans with no specific reserve 10.8 .2 11.0 Net carrying amount of impaired loans $ 26.9 $ 1.7 $ 28.6 Average recorded investment* $ 3.7 $ 27.8 $ 2.4 $ 33.9 * Represents the average during the 12 months ended September 30, 2016.
Interest Income Recognized on Cash Basis	During the period the loans above were considered impaired, interest income recognized on a cash basis was as follows: Three Months Ended Nine Months Ended September 30 September 30 2017 2016 2017 2016 Interest income recognized: Customer retail - fleet $ .4 $ .2 $ 1.0 $ .8 Customer retail - owner/operator .1 .3 $ .4 $ .3 $ 1.0 $ 1.1
Finance Receivables by Credit Quality Indicator and Portfolio Class	The tables below summarize the Company’s finance receivables by credit quality indicator and portfolio class. DEALER CUSTOMER RETAIL OWNER/ At September 30, 2017 WHOLESALE RETAIL FLEET OPERATOR TOTAL Performing $ 1,905.6 $ 1,327.0 $ 4,916.7 $ 1,197.5 $ 9,346.8 Watch 4.9 64.8 6.2 75.9 At-risk .1 4.1 42.1 7.3 53.6 $ 1,910.6 $ 1,331.1 $ 5,023.6 $ 1,211.0 $ 9,476.3 DEALER CUSTOMER RETAIL OWNER/ At December 31, 2016 WHOLESALE RETAIL FLEET OPERATOR TOTAL Performing $ 1,519.3 $ 1,406.0 $ 4,863.4 $ 922.1 $ 8,710.8 Watch 9.1 14.9 5.5 29.5 At-risk .1 50.4 6.9 57.4 $ 1,528.5 $ 1,406.0 $ 4,928.7 $ 934.5 $ 8,797.7
Financing Receivables by Aging Category	The tables below summarize the Company’s finance receivables by aging category. In determining past due status, the Company considers the entire contractual account balance past due when any installment is over 30 days past due. Substantially all customer accounts that were greater than 30 days past due prior to credit modification became current upon modification for aging purposes. DEALER CUSTOMER RETAIL OWNER/ At September 30, 2017 WHOLESALE RETAIL FLEET OPERATOR TOTAL Current and up to 30 days past due $ 1,910.3 $ 1,331.1 $ 4,987.0 $ 1,199.6 $ 9,428.0 31 – 60 days past due .2 15.7 5.6 21.5 Greater than 60 days past due .1 20.9 5.8 26.8 $ 1,910.6 $ 1,331.1 $ 5,023.6 $ 1,211.0 $ 9,476.3 DEALER CUSTOMER RETAIL OWNER/ At December 31, 2016 WHOLESALE RETAIL FLEET OPERATOR TOTAL Current and up to 30 days past due $ 1,528.4 $ 1,406.0 $ 4,898.4 $ 926.4 $ 8,759.2 31 – 60 days past due 12.6 3.9 16.5 Greater than 60 days past due .1 17.7 4.2 22.0 $ 1,528.5 $ 1,406.0 $ 4,928.7 $ 934.5 $ 8,797.7
Pre- and Post-Modification Recorded Investment Balances by Portfolio Class	At modification date, the pre-modification and post-modification recorded investment balances for finance receivables modified during the period by portfolio class are as follows: Three Months Ended Nine Months Ended September 30, 2017 September 30, 2017 RECORDED INVESTMENT RECORDED INVESTMENT PRE-MODIFICATION POST-MODIFICATION PRE-MODIFICATION POST-MODIFICATION Fleet $ .9 $ .9 $ 17.5 $ 17.5 Owner/operator .1 .1 .5 .5 $ 1.0 $ 1.0 $ 18.0 $ 18.0 Three Months Ended Nine Months Ended September 30, 2016 September 30, 2016 RECORDED INVESTMENT RECORDED INVESTMENT PRE-MODIFICATION POST-MODIFICATION PRE-MODIFICATION POST-MODIFICATION Fleet $ 9.1 $ 9.1 $ 23.1 $ 23.0 Owner/operator .4 .4 3.7 3.7 $ 9.5 $ 9.5 $ 26.8 $ 26.7
TDRs Modified that Subsequently Defaulted (i.e., Became More than 30 Days Past-Due) by Portfolio Class	TDRs modified during the previous twelve months that subsequently defaulted (i.e., became more than 30 days past due) during the period by portfolio class are as follows: Nine Months Ended September 30, 2017 2016 Fleet $ 5.1 $ .1 Owner/operator .3 .4 $ 5.4 $ .5

Product Support Liabilities (Ta

Product Support Liabilities (Tables)	9 Months Ended
	Sep. 30, 2017
Product Warranties Disclosures [Abstract]
Changes in Product Support Liabilities, Warranty Reserves	WARRANTY RESERVES 2017 2016 Balance at January 1 $ 282.1 $ 346.2 Cost accruals 168.7 159.7 Payments (177.6 ) (194.9 ) Change in estimates for pre-existing warranties .1 (2.5 ) Currency translation 12.6 (6.7 ) Balance at September 30 $ 285.9 $ 301.8
Changes in Product Support Liabilities, Deferred Revenues on Extended Warranties and R&M Contracts	DEFERRED REVENUES ON EXTENDED WARRANTIES AND R&M CONTRACTS 2017 2016 Balance at January 1 $ 573.5 $ 524.8 Deferred revenues 272.3 276.5 Revenues recognized (239.6 ) (205.6 ) Currency translation 32.8 (7.2 ) Balance at September 30 $ 639.0 $ 588.5

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2017
Equity [Abstract]
Components of Comprehensive Income, Net of Related Tax	The components of comprehensive income are as follows: Three Months Ended Nine Months Ended September 30 September 30 2017 2016 2017 2016 Net income $ 402.7 $ 346.2 $ 1,086.0 $ 232.9 Other comprehensive income (loss) (OCI): Unrealized gains (losses) on derivative contracts 1.9 5.1 (.1 ) 8.0 Tax effect (.7 ) (2.2 ) .2 (2.7 ) 1.2 2.9 .1 5.3 Unrealized (losses) gains on marketable debt securities (.4 ) (3.7 ) 2.5 2.1 Tax effect .1 1.2 (1.1 ) (.6 ) (.3 ) (2.5 ) 1.4 1.5 Pension plans .6 10.3 3.1 32.7 Tax effect (.6 ) (3.4 ) (1.9 ) (10.6 ) 6.9 1.2 22.1 Foreign currency translation gains (losses) 108.1 (6.9 ) 309.2 61.4 Net other comprehensive income 109.0 .4 311.9 90.3 Comprehensive income $ 511.7 $ 346.6 $ 1,397.9 $ 323.2
Changes in Accumulated Other Comprehensive Income (loss) by Component	The components of AOCI and the changes in AOCI, net of tax, included in the Consolidated Balance Sheets consisted of the following: Three Months Ended September 30, 2017 DERIVATIVE CONTRACTS MARKETABLE DEBT SECURITIES PENSION PLANS FOREIGN CURRENCY TRANSLATION TOTAL Balance at July 1, 2017 $ (5.4 ) $ 1.4 $ (412.9 ) $ (508.3 ) $ (925.2 ) Recorded into AOCI (19.8 ) (.2 ) (4.5 ) 108.1 83.6 Reclassified out of AOCI 21.0 (.1 ) 4.5 25.4 Net other comprehensive income (loss) 1.2 (.3 ) 108.1 109.0 Balance at September 30, 2017 $ (4.2 ) $ 1.1 $ (412.9 ) $ (400.2 ) $ (816.2 ) Three Months Ended September 30, 2016 DERIVATIVE CONTRACTS MARKETABLE DEBT SECURITIES PENSION PLANS FOREIGN CURRENCY TRANSLATION TOTAL Balance at July 1, 2016 $ (4.0 ) $ 6.1 $ (375.2 ) $ (554.0 ) $ (927.1 ) Recorded into AOCI (7.9 ) (.7 ) 2.1 (6.9 ) (13.4 ) Reclassified out of AOCI 10.8 (1.8 ) 4.8 13.8 Net other comprehensive income (loss) 2.9 (2.5 ) 6.9 (6.9 ) .4 Balance at September 30, 2016 $ (1.1 ) $ 3.6 $ (368.3 ) $ (560.9 ) $ (926.7 ) Nine Months Ended September 30, 2017 DERIVATIVE CONTRACTS MARKETABLE DEBT SECURITIES PENSION PLANS FOREIGN CURRENCY TRANSLATION TOTAL Balance at January 1, 2017 $ (4.3 ) $ (.3 ) $ (414.1 ) $ (709.4 ) $ (1,128.1 ) Recorded into AOCI (93.9 ) 1.8 (12.3 ) 309.2 204.8 Reclassified out of AOCI 94.0 (.4 ) 13.5 107.1 Net other comprehensive income .1 1.4 1.2 309.2 311.9 Balance at September 30, 2017 $ (4.2 ) $ 1.1 $ (412.9 ) $ (400.2 ) $ (816.2 ) Nine Months Ended September 30, 2016 DERIVATIVE CONTRACTS MARKETABLE DEBT SECURITIES PENSION PLANS FOREIGN CURRENCY TRANSLATION TOTAL Balance at January 1, 2016 $ (6.4 ) $ 2.1 $ (390.4 ) $ (622.3 ) $ (1,017.0 ) Recorded into AOCI (33.9 ) 4.1 7.8 61.4 39.4 Reclassified out of AOCI 39.2 (2.6 ) 14.3 50.9 Net other comprehensive income 5.3 1.5 22.1 61.4 90.3 Balance at September 30, 2016 $ (1.1 ) $ 3.6 $ (368.3 ) $ (560.9 ) $ (926.7 )
Reclassifications Out of Accumulated Other Comprehensive Income	Reclassifications out of AOCI during the three months ended September 30, 2017 and 2016 are as follows: Three Months Ended LINE ITEM IN THE CONSOLIDATED STATEMENTS OF September 30 AOCI COMPONENTS COMPREHENSIVE INCOME (LOSS) 2017 2016 Unrealized (gains) and losses on derivative contracts: Truck, Parts and Other Foreign-exchange contracts Net sales and revenues $ (3.0 ) $ (11.1 ) Cost of sales and revenues 5.5 Interest and other expense, net 1.0 (.3 ) Financial Services Interest-rate contracts Interest and other borrowing expenses 24.6 28.2 Pre-tax expense increase 28.1 16.8 Tax benefit (7.1 ) (6.0 ) After-tax expense increase 21.0 10.8 Unrealized gains on marketable debt securities: Marketable debt securities Investment income (.2 ) (2.4 ) Tax expense .1 .6 After-tax income increase (.1 ) (1.8 ) Pension plans: Truck, Parts and Other Actuarial loss Cost of sales and revenues 3.1 3.4 Selling, general and administrative 3.0 3.2 6.1 6.6 Prior service costs Cost of sales and revenues .2 .2 Selling, general and administrative .1 .1 .3 .3 Financial Services Actuarial loss Selling, general and administrative .2 .3 Pre-tax expense increase 6.6 7.2 Tax benefit (2.1 ) (2.4 ) After-tax expense increase 4.5 4.8 Total reclassifications out of AOCI $ 25.4 $ 13.8 Reclassifications out of AOCI during the nine months ended September 30, 2017 and 2016 are as follows: Nine Months Ended LINE ITEM IN THE CONSOLIDATED STATEMENTS OF September 30 AOCI COMPONENTS COMPREHENSIVE INCOME (LOSS) 2017 2016 Unrealized losses and (gains) on derivative contracts: Truck, Parts and Other Foreign-exchange contracts Net sales and revenues $ 13.3 $ (17.6 ) Cost of sales and revenues 4.3 .6 Interest and other expense, net 1.6 1.6 Financial Services Interest-rate contracts Interest and other borrowing expenses 110.4 78.5 Pre-tax expense increase 129.6 63.1 Tax benefit (35.6 ) (23.9 ) After-tax expense increase 94.0 39.2 Unrealized gains on marketable debt securities: Marketable debt securities Investment income (.6 ) (3.5 ) Tax expense .2 .9 After-tax income increase (.4 ) (2.6 ) Pension plans: Truck, Parts and Other Actuarial loss Cost of sales and revenues 9.2 10.3 Selling, general and administrative 9.1 9.7 18.3 20.0 Prior service costs Cost of sales and revenues .7 .7 Selling, general and administrative .2 .2 .9 .9 Financial Services Actuarial loss Selling, general and administrative .6 .8 Pre-tax expense increase 19.8 21.7 Tax benefit (6.3 ) (7.4 ) After-tax expense increase 13.5 14.3 Total reclassifications out of AOCI $ 107.1 $ 50.9

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2017
Segment Reporting [Abstract]
Segment Reporting Information by Segment	Three Months Ended Nine Months Ended September 30 September 30 2017 2016 2017 2016 Net sales and revenues: Truck $ 4,065.6 $ 3,429.0 $ 11,131.8 $ 10,499.4 Less intersegment (198.2 ) (258.3 ) (580.7 ) (717.0 ) External customers 3,867.4 3,170.7 10,551.1 9,782.4 Parts 854.4 777.2 2,488.7 2,276.0 Less intersegment (14.4 ) (12.4 ) (38.9 ) (35.3 ) External customers 840.0 764.8 2,449.8 2,240.7 Other 24.1 17.7 64.2 56.5 4,731.5 3,953.2 13,065.1 12,079.6 Financial Services 328.2 296.2 936.7 883.0 $ 5,059.7 $ 4,249.4 $ 14,001.8 $ 12,962.6 Income (loss) before income taxes: Truck $ 357.4 $ 284.9 $ 922.8 $ 918.4 Parts 152.9 138.3 457.0 406.3 Other* (8.7 ) (7.8 ) (28.1 ) (862.4 ) 501.6 415.4 1,351.7 462.3 Financial Services 71.2 71.0 191.5 228.6 Investment income 9.0 8.5 25.8 20.6 $ 581.8 $ 494.9 $ 1,569.0 $ 711.5 Depreciation and amortization: Truck $ 122.4 $ 107.6 $ 340.5 $ 329.5 Parts 2.4 1.9 6.3 5.4 Other 5.7 3.9 13.7 11.7 130.5 113.4 360.5 346.6 Financial Services 155.6 136.8 453.8 399.0 $ 286.1 $ 250.2 $ 814.3 $ 745.6 * Other includes the $833.0 European Commission charge in the first half of 2016 (see Note L).

Derivative Financial Instrume26

Derivative Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2017
Balance Sheet Classifications, Fair Value, Gross and Pro-Forma Net Amounts of Derivative Financial Instruments	The following table presents the balance sheet classification, fair value, gross and pro forma net amounts of derivative financial instruments: September 30, 2017 December 31, 2016 ASSETS LIABILITIES ASSETS LIABILITIES Derivatives designated under hedge accounting: Interest-rate contracts: Financial Services: Other assets $ 47.8 $ 109.7 Deferred taxes and other liabilities $ 91.3 $ 46.3 Foreign-exchange contracts: Truck, Parts and Other: Other current assets 1.6 3.9 Accounts payable, accrued expenses and other 4.4 1.9 $ 49.4 $ 95.7 $ 113.6 $ 48.2 Economic hedges: Interest-rate contracts: Financial Services: Deferred taxes and other liabilities $ .1 Foreign-exchange contracts: Truck, Parts and Other: Other current assets $ .3 $ .8 Accounts payable, accrued expenses and other $ .8 .3 Financial Services: Other assets 2.0 4.0 Deferred taxes and other liabilities .6 .7 $ 2.3 $ 1.4 $ 4.8 $ 1.1 Gross amounts recognized in Balance Sheets $ 51.7 $ 97.1 $ 118.4 $ 49.3 Less amounts not offset in financial instruments: Truck, Parts and Other: Foreign-exchange contracts (1.1 ) (1.1 ) (1.0 ) (1.0 ) Financial Services: Interest-rate contracts (9.6 ) (9.6 ) (15.4 ) (15.4 ) Foreign-exchange contracts (.1 ) (.1 ) Pro forma net amount $ 41.0 $ 86.4 $ 101.9 $ 32.8
Fair Value Hedging | Financial Services
Gains/Losses of Derivative Financial Instruments	The (income) or expense recognized in earnings related to fair value hedges was included in interest and other borrowing expenses in the Financial Services segment of the Consolidated Statements of Comprehensive Income as follows: Three Months Ended Nine Months Ended September 30 September 30 2017 2016 2017 2016 Interest-rate swaps $ .4 $ 3.7 $ 1.0 $ (1.3 ) Term notes (.2 ) (3.8 ) (.6 ) .6
Cash Flow Hedging
Gains/Losses of Derivative Financial Instruments	The following table presents the pre-tax effects of derivative instruments recognized in other comprehensive income (loss) (OCI): Three Months Ended Nine Months Ended September 30, 2017 September 30, 2017 INTEREST- FOREIGN- INTEREST- FOREIGN- RATE EXCHANGE RATE EXCHANGE CONTRACTS CONTRACTS CONTRACTS CONTRACTS Loss recognized in OCI: Truck, Parts and Other $ (3.0 ) $ (23.4 ) Financial Services $ (23.2 ) $ (106.3 ) $ (23.2 ) $ (3.0 ) $ (106.3 ) $ (23.4 ) Three Months Ended Nine Months Ended September 30, 2016 September 30, 2016 INTEREST- FOREIGN- INTEREST- FOREIGN- RATE EXCHANGE RATE EXCHANGE CONTRACTS CONTRACTS CONTRACTS CONTRACTS Gain (loss) recognized in OCI: Truck, Parts and Other $ 13.9 $ 23.8 Financial Services $ (25.6 ) $ (78.9 ) $ (25.6 ) $ 13.9 $ (78.9 ) $ 23.8 Expense (income) reclassified out of AOCI into income was as follows: Three Months Ended Nine Months Ended September 30, 2017 September 30, 2017 INTEREST- FOREIGN- INTEREST- FOREIGN- RATE EXCHANGE RATE EXCHANGE CONTRACTS CONTRACTS CONTRACTS CONTRACTS Truck, Parts and Other: Net sales and revenues $ (3.0 ) $ 13.3 Cost of sales and revenues 5.5 4.3 Interest and other expense, net 1.0 1.6 Financial Services: Interest and other borrowing expenses $ 24.6 $ 110.4 Total $ 24.6 $ 3.5 $ 110.4 $ 19.2 Three Months Ended Nine Months Ended September 30, 2016 September 30, 2016 INTEREST- FOREIGN- INTEREST- FOREIGN- RATE EXCHANGE RATE EXCHANGE CONTRACTS CONTRACTS CONTRACTS CONTRACTS Truck, Parts and Other: Net sales and revenues $ (11.1 ) $ (17.6 ) Cost of sales and revenues .6 Interest and other expense, net (.3 ) 1.6 Financial Services: Interest and other borrowing expenses $ 28.2 $ 78.5 Total $ 28.2 $ (11.4 ) $ 78.5 $ (15.4 )
Foreign Currency And Interest Rate Contract
Gains/Losses of Derivative Financial Instruments	The expense (income) recognized in earnings related to economic hedges was as follows: Three Months Ended Nine Months Ended September 30, 2017 September 30, 2017 INTEREST- FOREIGN- INTEREST- FOREIGN- RATE EXCHANGE RATE EXCHANGE CONTRACTS CONTRACTS CONTRACTS CONTRACTS Truck, Parts and Other: Cost of sales and revenues $ .6 $ 1.3 Interest and other expense, net (1.0 ) 3.2 Financial Services: Interest and other borrowing expenses 4.8 $ (.1 ) 43.4 Selling, general and administrative .8 Total $ 4.4 $ (.1 ) $ 48.7 Three Months Ended Nine Months Ended September 30, 2016 September 30, 2016 INTEREST- FOREIGN- INTEREST- FOREIGN- RATE EXCHANGE RATE EXCHANGE CONTRACTS CONTRACTS CONTRACTS CONTRACTS Truck, Parts and Other: Net sales and revenues $ (.4 ) $ (.4 ) Cost of sales and revenues .3 1.4 Interest and other expense, net (1.3 ) (.5 ) Financial Services: Interest and other borrowing expenses $ .1 (3.1 ) $ .1 (11.3 ) Selling, general and administrative (.9 ) (2.5 ) Total $ .1 $ (5.4 ) $ .1 $ (13.3 )

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2017
Fair Value Disclosures [Abstract]
Financial Assets and Liabilities Subject to Recurring Fair Value Measurements	The Company’s assets and liabilities subject to recurring fair value measurements are either Level 1 or Level 2 as follows: At September 30, 2017 LEVEL 1 LEVEL 2 TOTAL Assets: Marketable debt securities U.S. tax-exempt securities $ 522.0 $ 522.0 U.S. corporate securities 58.9 58.9 U.S. government and agency securities $ 12.2 12.2 Non-U.S. corporate securities 397.9 397.9 Non-U.S. government securities 97.2 97.2 Other debt securities 127.8 127.8 Total marketable debt securities $ 12.2 $ 1,203.8 $ 1,216.0 Derivatives Cross currency swaps $ 43.2 $ 43.2 Interest-rate swaps 4.6 4.6 Foreign-exchange contracts 3.9 3.9 Total derivative assets $ 51.7 $ 51.7 Liabilities: Derivatives Cross currency swaps $ 84.1 $ 84.1 Interest-rate swaps 7.2 7.2 Foreign-exchange contracts 5.8 5.8 Total derivative liabilities $ 97.1 $ 97.1 At December 31, 2016 LEVEL 1 LEVEL 2 TOTAL Assets: Marketable debt securities U.S. tax-exempt securities $ 595.0 $ 595.0 U.S. corporate securities 47.8 47.8 U.S. government and agency securities $ 15.4 .6 16.0 Non-U.S. corporate securities 308.0 308.0 Non-U.S. government securities 98.2 98.2 Other debt securities 75.9 75.9 Total marketable debt securities $ 15.4 $ 1,125.5 $ 1,140.9 Derivatives Cross currency swaps $ 102.7 $ 102.7 Interest-rate swaps 7.0 7.0 Foreign-exchange contracts 8.7 8.7 Total derivative assets $ 118.4 $ 118.4 Liabilities: Derivatives Cross currency swaps $ 37.1 $ 37.1 Interest-rate swaps 9.3 9.3 Foreign-exchange contracts 2.9 2.9 Total derivative liabilities $ 49.3 $ 49.3
Carrying Amount and Fair Value of Financial Services Fixed-Rate Loans and Fixed-Rate Debt	The Company’s estimate of fair value for fixed rate loans and debt that are not carried at fair value was as follows: September 30, 2017 December 31, 2016 CARRYING FAIR CARRYING FAIR AMOUNT VALUE AMOUNT VALUE Assets: Financial Services fixed rate loans $ 3,612.6 $ 3,622.4 $ 3,607.4 $ 3,638.4 Liabilities: Financial Services fixed rate debt 5,372.5 5,378.6 4,915.2 4,929.3

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	9 Months Ended
	Sep. 30, 2017
Compensation And Retirement Disclosure [Abstract]
Components of Net Pension Expense	The following information details the components of net pension expense for the Company’s defined benefit plans: Three Months Ended Nine Months Ended September 30 September 30 2017 2016 2017 2016 Service cost $ 23.5 $ 22.2 $ 69.5 $ 66.7 Interest on projected benefit obligation 20.5 23.4 60.9 71.1 Expected return on assets (40.1 ) (35.2 ) (119.5 ) (106.9 ) Amortization of prior service costs .3 .3 .9 .9 Recognized actuarial loss 6.3 6.9 18.9 20.8 Net pension expense $ 10.5 $ 17.6 $ 30.7 $ 52.6

Dilutive and Antidilutive Optio

Dilutive and Antidilutive Options (Detail) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Earnings Per Share [Abstract]
Additional shares	1,035,000	738,500	1,021,000	679,400
Antidilutive options	599,400	1,099,600	695,900	1,943,500

Basis of Presentation - Additio

Basis of Presentation - Additional Information (Detail) $ in Millions	Jan. 01, 2017USD ($)
Accounting Standards Update 2016-16
Organization, Consolidation and Presentation of Financial Statements [Abstract]
New accounting pronouncement, cumulative effect of change on prepaid income taxes and retained earnings	$ (19.9)

Marketable Debt Securities (Det

Marketable Debt Securities (Detail) - Truck, Parts and Other - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 1,214.4	$ 1,141.9
Unrealized Gains	3.4	2.7
Unrealized Losses	1.8	3.7
Fair Value	1,216	1,140.9	[1]
U.S. tax-exempt securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	520.8	597.9
Unrealized Gains	1.3	0.2
Unrealized Losses	0.1	3.1
Fair Value	522	595
U.S. corporate securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	58.6	47.6
Unrealized Gains	0.3	0.2
Unrealized Losses	0	0
Fair Value	58.9	47.8
U.S. government and agency securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	12.2	16
Unrealized Gains	0	0
Unrealized Losses	0	0
Fair Value	12.2	16
Non-U.S. corporate securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	397.7	306.9
Unrealized Gains	1.4	1.5
Unrealized Losses	1.2	0.4
Fair Value	397.9	308
Non-U.S. government securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	97	97.6
Unrealized Gains	0.3	0.6
Unrealized Losses	0.1	0
Fair Value	97.2	98.2
Other debt securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	128.1	75.9
Unrealized Gains	0.1	0.2
Unrealized Losses	0.4	0.2
Fair Value	$ 127.8	$ 75.9
[1]	The December 31, 2016 consolidated balance sheet has been derived from audited financial statements.

Investments in Marketable Deb32

Investments in Marketable Debt Securities - Additional Information (Detail) - Truck, Parts and Other - USD ($)	9 Months Ended		12 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Schedule of Available-for-sale Securities [Line Items]
Gross realized gains from sales of marketable debt securities	$ 1,300,000	$ 4,200,000
Gross realized loss from sales of marketable debt securities	400,000	$ 100,000
Other-than-temporary impairments recognized on investments	$ 0		$ 0

Marketable Debt Securities Cont

Marketable Debt Securities Continuous Unrealized Losses (Detail) - Truck, Parts and Other - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Schedule of Available-for-sale Securities [Line Items]
Less than 12 Months Fair Value	$ 409.8	$ 615.5
Less than 12 Months Unrealized Losses	1.7	3.7
12 Months or Greater Fair value	11.3	0
12 Months or Greater Unrealized losses	$ 0.1	$ 0

Contractual Maturities of Marke

Contractual Maturities of Marketable Debt Securities (Detail) - Truck, Parts and Other - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Amortized Cost Maturities:
Within one year	$ 404.4
One to five years	800.9
More than ten years	9.1
Amortized Cost	1,214.4	$ 1,141.9
Fair Value Maturities:
Within one year	404.6
One to five years	802.3
More than ten years	9.1
Fair Value	$ 1,216	$ 1,140.9	[1]
[1]	The December 31, 2016 consolidated balance sheet has been derived from audited financial statements.

Inventories Table (Detail)

Inventories Table (Detail) - Truck, Parts and Other - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Inventory [Line Items]
Finished products	$ 574.1	$ 452.3
Work in process and raw materials	581.6	444.7
Inventory, Gross, Total	1,155.7	897
Less LIFO reserve	(172.7)	(169.2)
Inventories, net	$ 983	$ 727.8	[1]
[1]	The December 31, 2016 consolidated balance sheet has been derived from audited financial statements.

Inventories - Additional Inform

Inventories - Additional Information (Detail)	Sep. 30, 2017
Truck, Parts and Other
Inventory [Line Items]
Percentage of inventories valued using LIFO method of accounting	45.00%

Finance and Other Receivables37

Finance and Other Receivables (Detail) - Financial Services - USD ($) $ in Millions		Sep. 30, 2017	Dec. 31, 2016		Sep. 30, 2016	Dec. 31, 2015
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans		$ 4,024.3	$ 3,948.6
Direct financing leases		3,142.1	2,798
Sales-type finance leases		761.3	867.3
Dealer wholesale financing		1,910.6	1,528.5
Operating lease receivables and other		192.1	150.9
Unearned interest: Finance leases		(362)	(344.7)
Finance and other receivables, net of deferred income		9,668.4	8,948.6
Less allowance for losses		(119.7)	(111.2)		$ (114.4)	$ (114.8)
Finance and other receivables, net		9,548.7	8,837.4	[1]
Loans And Leases
Accounts, Notes, Loans and Financing Receivable [Line Items]
Less allowance for losses		(104)	(97.1)
Dealer | Wholesale
Accounts, Notes, Loans and Financing Receivable [Line Items]
Less allowance for losses		(6.5)	(5.5)		(6.5)	(7.3)
Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Less allowance for losses	[2]	$ (9.2)	$ (8.6)		$ (8.4)	$ (8.3)
[1]	The December 31, 2016 consolidated balance sheet has been derived from audited financial statements.
[2]	Operating leases and other trade receivables.

Finance and Other Receivables -

Finance and Other Receivables - Additional Information (Detail) - Financial Services - USD ($) $ in Millions	9 Months Ended		12 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, recorded investment, 90 days past due and still accruing	$ 0		$ 0
Months contractual terms extended	4 months		4 months
Loans accounted for as troubled debt restructurings	$ 40.6		$ 43.1
TDRs charged-off during the period	1.5	$ 5.1
Repossessed inventory	20.4		$ 25.4
Proceeds from the sales of repossessed assets	$ 44.7	$ 34.2
Loans And Leases | Minimum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Contractual terms of retails loans and finance leases	36 months
Loans And Leases | Maximum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Contractual terms of retails loans and finance leases	60 months
Financing Receivable | Maximum | Credit Concentration Risk
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of portfolio assets	5.00%

Allowance for Credit Losses (De

Allowance for Credit Losses (Detail) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Financing Receivable, Allowance for Credit Losses [Line Items]
Provision for losses				$ 17.4	$ 14.5
Financial Services
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning Balance				111.2	114.8
Provision for losses		$ 4.7	$ 5.1	17.4	14.5
Charge-offs				(18.3)	(18.9)
Recoveries				3.5	4.1
Currency translation and other				5.9	(0.1)
Ending Balance		119.7	114.4	119.7	114.4
Financial Services | Dealer | Wholesale
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning Balance				5.5	7.3
Provision for losses				0.4	(1)
Charge-offs				0	0
Recoveries				0	0
Currency translation and other				0.6	0.2
Ending Balance		6.5	6.5	6.5	6.5
Financial Services | Dealer | Retail
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning Balance				9.6	10.3
Provision for losses				(0.6)	(0.7)
Charge-offs				0	0
Recoveries				0	0
Currency translation and other				0.2	0.1
Ending Balance		9.2	9.7	9.2	9.7
Financial Services | Customer Retail
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning Balance				87.5	88.9
Provision for losses				17.2	14.5
Charge-offs				(17.7)	(17)
Recoveries				3.3	4
Currency translation and other				4.5	(0.6)
Ending Balance		94.8	89.8	94.8	89.8
Financial Services | Other
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning Balance	[1]			8.6	8.3
Provision for losses	[1]			0.4	1.7
Charge-offs	[1]			(0.6)	(1.9)
Recoveries	[1]			0.2	0.1
Currency translation and other	[1]			0.6	0.2
Ending Balance	[1]	$ 9.2	$ 8.4	$ 9.2	$ 8.4
[1]	Operating leases and other trade receivables.

Finance Receivable Evaluated an

Finance Receivable Evaluated and Determined Individually and Collectively (Detail) - Financial Services - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Financing Receivable, Allowance for Credit Losses [Line Items]
Recorded investment for impaired finance receivables evaluated individually	$ 53.6	$ 57.4
Allowance for impaired finance receivables determined individually	7.7	5
Recorded investment for finance receivables evaluated collectively	9,422.7	8,740.3
Allowance for finance receivables determined collectively	102.8	97.6
Dealer | Wholesale
Financing Receivable, Allowance for Credit Losses [Line Items]
Recorded investment for impaired finance receivables evaluated individually	0.1	0.1
Allowance for impaired finance receivables determined individually	0.1	0.1
Recorded investment for finance receivables evaluated collectively	1,910.5	1,528.4
Allowance for finance receivables determined collectively	6.4	5.4
Dealer | Retail
Financing Receivable, Allowance for Credit Losses [Line Items]
Recorded investment for impaired finance receivables evaluated individually	4.1	0
Allowance for impaired finance receivables determined individually	0	0
Recorded investment for finance receivables evaluated collectively	1,327	1,406
Allowance for finance receivables determined collectively	9.2	9.6
Customer Retail
Financing Receivable, Allowance for Credit Losses [Line Items]
Recorded investment for impaired finance receivables evaluated individually	49.4	57.3
Allowance for impaired finance receivables determined individually	7.6	4.9
Recorded investment for finance receivables evaluated collectively	6,185.2	5,805.9
Allowance for finance receivables determined collectively	$ 87.2	$ 82.6

Recorded Investment for Finance

Recorded Investment for Finance Receivables that are on Non-accrual Status (Detail) - Financial Services - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Financing Receivable, Recorded Investment, Past Due [Line Items]
Recorded investment of finance receivables that are on non-accrual status	$ 48.9	$ 56.5
Dealer | Wholesale
Financing Receivable, Recorded Investment, Past Due [Line Items]
Recorded investment of finance receivables that are on non-accrual status	0.1	0.1
Customer Retail | Fleet
Financing Receivable, Recorded Investment, Past Due [Line Items]
Recorded investment of finance receivables that are on non-accrual status	41.5	49.5
Customer Retail | Owner/Operator
Financing Receivable, Recorded Investment, Past Due [Line Items]
Recorded investment of finance receivables that are on non-accrual status	$ 7.3	$ 6.9

Summary of Impaired Loans (Deta

Summary of Impaired Loans (Detail) - Financial Services - USD ($) $ in Millions	9 Months Ended		12 Months Ended
	Sep. 30, 2017		Dec. 31, 2016
Financing Receivable, Impaired [Line Items]
Impaired loans with a specific reserve	$ 21.3		$ 20.8
Associated allowance	(4.2)		(3.2)
Net carrying amount of impaired loans with specific reserve	17.1		17.6
Impaired loans with no specific reserve	12.6		11
Net carrying amount of impaired loans	29.7		28.6
Average recorded investment	36.7	[1]	33.9	[2]
Dealer | Wholesale
Financing Receivable, Impaired [Line Items]
Impaired loans with a specific reserve	0.1		0.1
Associated allowance	(0.1)		(0.1)
Net carrying amount of impaired loans with specific reserve	0		0
Impaired loans with no specific reserve	0		0
Net carrying amount of impaired loans	0		0
Average recorded investment	0.4	[1]	3.7	[2]
Dealer | Retail
Financing Receivable, Impaired [Line Items]
Impaired loans with a specific reserve	0		0
Associated allowance	0		0
Net carrying amount of impaired loans with specific reserve	0		0
Impaired loans with no specific reserve	4.1		0
Net carrying amount of impaired loans	4.1		0
Average recorded investment	4	[1]	0	[2]
Customer Retail | Fleet
Financing Receivable, Impaired [Line Items]
Impaired loans with a specific reserve	20		18.9
Associated allowance	(3.8)		(2.8)
Net carrying amount of impaired loans with specific reserve	16.2		16.1
Impaired loans with no specific reserve	8.5		10.8
Net carrying amount of impaired loans	24.7		26.9
Average recorded investment	30.3	[1]	27.8	[2]
Customer Retail | Owner/Operator
Financing Receivable, Impaired [Line Items]
Impaired loans with a specific reserve	1.2		1.8
Associated allowance	(0.3)		(0.3)
Net carrying amount of impaired loans with specific reserve	0.9		1.5
Impaired loans with no specific reserve	0		0.2
Net carrying amount of impaired loans	0.9		1.7
Average recorded investment	$ 2	[1]	$ 2.4	[2]
[1]	Represents the average during the 12 months ended September 30, 2017.
[2]	Represents the average during the 12 months ended September 30, 2016.

Summary of Impaired Loans (Cash

Summary of Impaired Loans (Cash Basis Method) (Detail) - Financial Services - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Interest income recognized:
Interest income recognized on a cash basis	$ 0.4	$ 0.3	$ 1	$ 1.1
Customer Retail | Fleet
Interest income recognized:
Interest income recognized on a cash basis	0.4	0.2	1	0.8
Customer Retail | Owner/Operator
Interest income recognized:
Interest income recognized on a cash basis	$ 0	$ 0.1	$ 0	$ 0.3

Finance Receivables by Credit Q

Finance Receivables by Credit Quality Indicator and Portfolio Class (Detail) - Financial Services - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Financing Receivable, Recorded Investment [Line Items]
Financing Receivables	$ 9,476.3	$ 8,797.7
Performing
Financing Receivable, Recorded Investment [Line Items]
Financing Receivables	9,346.8	8,710.8
Watch
Financing Receivable, Recorded Investment [Line Items]
Financing Receivables	75.9	29.5
At-risk
Financing Receivable, Recorded Investment [Line Items]
Financing Receivables	53.6	57.4
Dealer | Wholesale
Financing Receivable, Recorded Investment [Line Items]
Financing Receivables	1,910.6	1,528.5
Dealer | Wholesale | Performing
Financing Receivable, Recorded Investment [Line Items]
Financing Receivables	1,905.6	1,519.3
Dealer | Wholesale | Watch
Financing Receivable, Recorded Investment [Line Items]
Financing Receivables	4.9	9.1
Dealer | Wholesale | At-risk
Financing Receivable, Recorded Investment [Line Items]
Financing Receivables	0.1	0.1
Dealer | Retail
Financing Receivable, Recorded Investment [Line Items]
Financing Receivables	1,331.1	1,406
Dealer | Retail | Performing
Financing Receivable, Recorded Investment [Line Items]
Financing Receivables	1,327	1,406
Dealer | Retail | Watch
Financing Receivable, Recorded Investment [Line Items]
Financing Receivables	0	0
Dealer | Retail | At-risk
Financing Receivable, Recorded Investment [Line Items]
Financing Receivables	4.1	0
Customer Retail | Fleet
Financing Receivable, Recorded Investment [Line Items]
Financing Receivables	5,023.6	4,928.7
Customer Retail | Fleet | Performing
Financing Receivable, Recorded Investment [Line Items]
Financing Receivables	4,916.7	4,863.4
Customer Retail | Fleet | Watch
Financing Receivable, Recorded Investment [Line Items]
Financing Receivables	64.8	14.9
Customer Retail | Fleet | At-risk
Financing Receivable, Recorded Investment [Line Items]
Financing Receivables	42.1	50.4
Customer Retail | Owner/Operator
Financing Receivable, Recorded Investment [Line Items]
Financing Receivables	1,211	934.5
Customer Retail | Owner/Operator | Performing
Financing Receivable, Recorded Investment [Line Items]
Financing Receivables	1,197.5	922.1
Customer Retail | Owner/Operator | Watch
Financing Receivable, Recorded Investment [Line Items]
Financing Receivables	6.2	5.5
Customer Retail | Owner/Operator | At-risk
Financing Receivable, Recorded Investment [Line Items]
Financing Receivables	$ 7.3	$ 6.9

Financing Receivables by Aging

Financing Receivables by Aging Category (Detail) - Financial Services - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing receivables, current and up to 30 days past due	$ 9,428	$ 8,759.2
Financing Receivables	9,476.3	8,797.7
31 - 60 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing receivables, past due	21.5	16.5
Greater than 60 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing receivables, past due	26.8	22
Dealer | Wholesale
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing receivables, current and up to 30 days past due	1,910.3	1,528.4
Financing Receivables	1,910.6	1,528.5
Dealer | Wholesale | 31 - 60 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing receivables, past due	0.2	0
Dealer | Wholesale | Greater than 60 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing receivables, past due	0.1	0.1
Dealer | Retail
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing receivables, current and up to 30 days past due	1,331.1	1,406
Financing Receivables	1,331.1	1,406
Dealer | Retail | 31 - 60 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing receivables, past due	0	0
Dealer | Retail | Greater than 60 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing receivables, past due	0	0
Customer Retail | Fleet
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing receivables, current and up to 30 days past due	4,987	4,898.4
Financing Receivables	5,023.6	4,928.7
Customer Retail | Fleet | 31 - 60 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing receivables, past due	15.7	12.6
Customer Retail | Fleet | Greater than 60 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing receivables, past due	20.9	17.7
Customer Retail | Owner/Operator
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing receivables, current and up to 30 days past due	1,199.6	926.4
Financing Receivables	1,211	934.5
Customer Retail | Owner/Operator | 31 - 60 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing receivables, past due	5.6	3.9
Customer Retail | Owner/Operator | Greater than 60 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing receivables, past due	$ 5.8	$ 4.2

Pre- and Post-Modification Reco

Pre- and Post-Modification Recorded Investment Balances for Finance Receivables Modified by Portfolio Class (Detail) - Financial Services - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Financing Receivable, Modifications [Line Items]
Pre-Modification Recorded Investment	$ 1	$ 9.5	$ 18	$ 26.8
Post-Modification Recorded Investment	1	9.5	18	26.7
Customer Retail | Fleet
Financing Receivable, Modifications [Line Items]
Pre-Modification Recorded Investment	0.9	9.1	17.5	23.1
Post-Modification Recorded Investment	0.9	9.1	17.5	23
Customer Retail | Owner/Operator
Financing Receivable, Modifications [Line Items]
Pre-Modification Recorded Investment	0.1	0.4	0.5	3.7
Post-Modification Recorded Investment	$ 0.1	$ 0.4	$ 0.5	$ 3.7

TDRs Modified During Previous T

TDRs Modified During Previous Twelve Months that Subsequently Defaulted (Detail) - Financial Services - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Financing Receivable, Modifications [Line Items]
Recorded Investment, subsequently defaulted	$ 5.4	$ 0.5
Customer Retail | Fleet
Financing Receivable, Modifications [Line Items]
Recorded Investment, subsequently defaulted	5.1	0.1
Customer Retail | Owner/Operator
Financing Receivable, Modifications [Line Items]
Recorded Investment, subsequently defaulted	$ 0.3	$ 0.4

Product Support Liabilities - A

Product Support Liabilities - Additional Information (Detail) - Truck, Parts and Other	9 Months Ended
	Sep. 30, 2017
Product Warranty Liability [Line Items]
Standard product warranty, description	The Company generally offers one year warranties covering most of its vehicles and related aftermarket parts. For vehicles equipped with engines manufactured by PACCAR, the Company generally offers two year warranties on the engine.
Standard product warranty, term	1 year
Extended product warranty, description	Optional extended warranty and R&M contracts can be purchased for periods which generally range up to five years.
Maximum
Product Warranty Liability [Line Items]
Extended product warranty, term	5 years
Engines manufactured by PACCAR
Product Warranty Liability [Line Items]
Standard product warranty, term	2 years

Changes in Product Support Liab

Changes in Product Support Liabilities (Detail) - Truck, Parts and Other - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
WARRANTY RESERVES
Beginning balance	$ 282.1	$ 346.2
Cost accruals	168.7	159.7
Payments	(177.6)	(194.9)
Change in estimates for pre-existing warranties	0.1	(2.5)
Currency translation	12.6	(6.7)
Ending balance	285.9	301.8
DEFERRED REVENUES ON EXTENDED WARRANTIES AND R&M CONTRACTS
Beginning balance	573.5	524.8
Deferred revenues	272.3	276.5
Revenues recognized	(239.6)	(205.6)
Currency translation	32.8	(7.2)
Ending balance	$ 639	$ 588.5

Components of Comprehensive Inc

Components of Comprehensive Income, Net of Related Tax (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 402.7	$ 346.2	$ 1,086	$ 232.9
Other comprehensive income (loss) (OCI):
Unrealized gains (losses) on derivative contracts	1.9	5.1	(0.1)	8
Unrealized gains on derivative contracts, tax	(0.7)	(2.2)	0.2	(2.7)
Net current period OCI, unrealized (losses) gain on derivative contracts	1.2	2.9	0.1	5.3
Unrealized (losses) gains on marketable debt securities	(0.4)	(3.7)	2.5	2.1
Unrealized gains (losses)on marketable debt securities, tax	0.1	1.2	(1.1)	(0.6)
Net current period OCI, unrealized (losses) gains on marketable debt securities	(0.3)	(2.5)	1.4	1.5
Pension plans, before tax	0.6	10.3	3.1	32.7
Pension plans, tax	(0.6)	(3.4)	(1.9)	(10.6)
Net current period OCI, pension plans	0	6.9	1.2	22.1
Foreign currency translation gains (losses)	108.1	(6.9)	309.2	61.4
Net other comprehensive income (loss)	109	0.4	311.9	90.3
Comprehensive income	$ 511.7	$ 346.6	$ 1,397.9	$ 323.2

Changes in Accumulated Other Co

Changes in Accumulated Other Comprehensive Income (Loss) by Component (Detail) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	[1]			$ 6,777.6
Recorded into AOCI		$ 83.6	$ (13.4)	204.8	$ 39.4
Reclassified out of AOCI		25.4	13.8	107.1	50.9
Net other comprehensive income (loss)		109	0.4	311.9	90.3
Ending balance		7,935.6		7,935.6
Derivative Contracts
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance		(5.4)	(4)	(4.3)	(6.4)
Recorded into AOCI		(19.8)	(7.9)	(93.9)	(33.9)
Reclassified out of AOCI		21	10.8	94	39.2
Net other comprehensive income (loss)		1.2	2.9	0.1	5.3
Ending balance		(4.2)	(1.1)	(4.2)	(1.1)
Marketable Debt Securities
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance		1.4	6.1	(0.3)	2.1
Recorded into AOCI		(0.2)	(0.7)	1.8	4.1
Reclassified out of AOCI		(0.1)	(1.8)	(0.4)	(2.6)
Net other comprehensive income (loss)		(0.3)	(2.5)	1.4	1.5
Ending balance		1.1	3.6	1.1	3.6
Pension Plans
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance		(412.9)	(375.2)	(414.1)	(390.4)
Recorded into AOCI		(4.5)	2.1	(12.3)	7.8
Reclassified out of AOCI		4.5	4.8	13.5	14.3
Net other comprehensive income (loss)		0	6.9	1.2	22.1
Ending balance		(412.9)	(368.3)	(412.9)	(368.3)
Foreign Currency Translation
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance		(508.3)	(554)	(709.4)	(622.3)
Recorded into AOCI		108.1	(6.9)	309.2	61.4
Reclassified out of AOCI		0	0	0	0
Net other comprehensive income (loss)		108.1	(6.9)	309.2	61.4
Ending balance		(400.2)	(560.9)	(400.2)	(560.9)
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance		(925.2)	(927.1)	(1,128.1)	(1,017)
Ending balance		$ (816.2)	$ (926.7)	$ (816.2)	$ (926.7)
[1]	The December 31, 2016 consolidated balance sheet has been derived from audited financial statements.

Reclassifications Out of Accumu

Reclassifications Out of Accumulated Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Accumulated Other Comprehensive Income (Loss) [Line Items]
Income before income taxes	$ (581.8)	$ (494.9)	$ (1,569)	$ (711.5)
Investment income	(9)	(8.5)	(25.8)	(20.6)
Tax (benefit) expense	179.1	148.7	483	478.6
Net Income (Loss)	(402.7)	(346.2)	(1,086)	(232.9)
Total reclassifications out of AOCI	25.4	13.8	107.1	50.9
Foreign-exchange contracts | Reclassification out of Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income (Loss) [Line Items]
Income before income taxes	3.5	(11.4)	19.2	(15.4)
Interest-Rate Contracts | Reclassification out of Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income (Loss) [Line Items]
Income before income taxes	24.6	28.2	110.4	78.5
Derivative Contracts
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total reclassifications out of AOCI	21	10.8	94	39.2
Derivative Contracts | Reclassification out of Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income (Loss) [Line Items]
Income before income taxes	28.1	16.8	129.6	63.1
Tax (benefit) expense	(7.1)	(6)	(35.6)	(23.9)
Net Income (Loss)	21	10.8	94	39.2
Marketable Debt Securities
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total reclassifications out of AOCI	(0.1)	(1.8)	(0.4)	(2.6)
Marketable Debt Securities | Reclassification out of Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income (Loss) [Line Items]
Investment income	(0.2)	(2.4)	(0.6)	(3.5)
Tax (benefit) expense	0.1	0.6	0.2	0.9
Net Income (Loss)	(0.1)	(1.8)	(0.4)	(2.6)
Pension Plans
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total reclassifications out of AOCI	4.5	4.8	13.5	14.3
Pension Plans | Reclassification out of Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income (Loss) [Line Items]
Income before income taxes	6.6	7.2	19.8	21.7
Tax (benefit) expense	(2.1)	(2.4)	(6.3)	(7.4)
Net Income (Loss)	4.5	4.8	13.5	14.3
Truck, Parts and Other
Accumulated Other Comprehensive Income (Loss) [Line Items]
Net sales and revenues	(4,731.5)	(3,953.2)	(13,065.1)	(12,079.6)
Cost of sales and revenues	4,046.8	3,371.5	11,184.2	10,274.5
Selling, general and administrative	112.9	105.5	332	326
Research and development	67	59.2	194.1	179.6
Interest and other expense, net	3.2	1.6	3.1	4.2
Income before income taxes	(501.6)	(415.4)	(1,351.7)	(462.3)
Truck, Parts and Other | Derivative Contracts | Foreign-exchange contracts | Reclassification out of Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income (Loss) [Line Items]
Net sales and revenues	(3)	(11.1)	13.3	(17.6)
Cost of sales and revenues	5.5	0	4.3	0.6
Interest and other expense, net	1	(0.3)	1.6	1.6
Truck, Parts and Other | Derivative Contracts | Interest-Rate Contracts | Reclassification out of Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income (Loss) [Line Items]
Net sales and revenues	0	0	0	0
Cost of sales and revenues	0	0	0	0
Interest and other expense, net	0	0	0	0
Truck, Parts and Other | Actuarial loss | Reclassification out of Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income (Loss) [Line Items]
Cost of sales and revenues	3.1	3.4	9.2	10.3
Selling, general and administrative	3	3.2	9.1	9.7
Income before income taxes	6.1	6.6	18.3	20
Truck, Parts and Other | Prior service costs | Reclassification out of Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income (Loss) [Line Items]
Cost of sales and revenues	0.2	0.2	0.7	0.7
Selling, general and administrative	0.1	0.1	0.2	0.2
Income before income taxes	0.3	0.3	0.9	0.9
Financial Services
Accumulated Other Comprehensive Income (Loss) [Line Items]
Selling, general and administrative	27.8	25.3	79.3	74.9
Interest and other borrowing expenses	38.3	32.2	109.8	95.1
Income before income taxes	(71.2)	(71)	(191.5)	(228.6)
Financial Services | Derivative Contracts | Foreign-exchange contracts | Reclassification out of Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income (Loss) [Line Items]
Interest and other borrowing expenses	0	0	0	0
Financial Services | Derivative Contracts | Interest-Rate Contracts | Reclassification out of Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income (Loss) [Line Items]
Interest and other borrowing expenses	24.6	28.2	110.4	78.5
Financial Services | Actuarial loss | Reclassification out of Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income (Loss) [Line Items]
Selling, general and administrative	$ 0.2	$ 0.3	$ 0.6	$ 0.8

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock-based compensation expense	$ 1.9	$ 2	$ 10.9	$ 11.1
Stock-based compensation expense realized tax benefits from the excess of deductible amounts over expense recognized	$ 0	$ 0.1	$ 0	$ 0.3
Additional common shares issued under deferred and stock compensation arrangements			777,808

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Jun. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Income Tax Disclosure [Abstract]
Effective tax rate	30.80%	30.00%		30.80%	67.30%
European Commission charge			$ 833

Segment and Related Information

Segment and Related Information - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2017Segment
Segment Reporting [Abstract]
Reportable segments	3

Segment Reporting Information b

Segment Reporting Information by Segment (Detail) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Segment Reporting Information [Line Items]
Net sales and revenues		$ 5,059.7	$ 4,249.4	$ 14,001.8	$ 12,962.6
Income (loss) before income taxes		581.8	494.9	1,569	711.5
Investment income		9	8.5	25.8	20.6
Depreciation and amortization		286.1	250.2	814.3	745.6
Truck, Parts and Other
Segment Reporting Information [Line Items]
Net sales and revenues		4,731.5	3,953.2	13,065.1	12,079.6
Income (loss) before income taxes		501.6	415.4	1,351.7	462.3
Depreciation and amortization		130.5	113.4	360.5	346.6
Truck, Parts and Other | Trucks
Segment Reporting Information [Line Items]
Net sales and revenues		3,867.4	3,170.7	10,551.1	9,782.4
Income (loss) before income taxes		357.4	284.9	922.8	918.4
Depreciation and amortization		122.4	107.6	340.5	329.5
Truck, Parts and Other | Trucks | Operating Segments
Segment Reporting Information [Line Items]
Net sales and revenues		4,065.6	3,429	11,131.8	10,499.4
Truck, Parts and Other | Trucks | Intersegment
Segment Reporting Information [Line Items]
Net sales and revenues		(198.2)	(258.3)	(580.7)	(717)
Truck, Parts and Other | Parts
Segment Reporting Information [Line Items]
Net sales and revenues		840	764.8	2,449.8	2,240.7
Income (loss) before income taxes		152.9	138.3	457	406.3
Depreciation and amortization		2.4	1.9	6.3	5.4
Truck, Parts and Other | Parts | Operating Segments
Segment Reporting Information [Line Items]
Net sales and revenues		854.4	777.2	2,488.7	2,276
Truck, Parts and Other | Parts | Intersegment
Segment Reporting Information [Line Items]
Net sales and revenues		(14.4)	(12.4)	(38.9)	(35.3)
Truck, Parts and Other | Other
Segment Reporting Information [Line Items]
Net sales and revenues		24.1	17.7	64.2	56.5
Income (loss) before income taxes	[1]	(8.7)	(7.8)	(28.1)	(862.4)
Depreciation and amortization		5.7	3.9	13.7	11.7
Financial Services
Segment Reporting Information [Line Items]
Revenue		328.2	296.2	936.7	883
Income (loss) before income taxes		71.2	71	191.5	228.6
Depreciation and amortization		$ 155.6	$ 136.8	$ 453.8	$ 399
[1]	Other includes the $833.0 European Commission charge in the first half of 2016 (see Note L).

Segment Reporting Information57

Segment Reporting Information by Segment (Parenthetical) (Detail) € in Millions, $ in Millions	3 Months Ended		6 Months Ended		9 Months Ended
	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)	Jun. 30, 2016USD ($)	Jun. 30, 2016EUR (€)	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)
Segment Reporting Information [Line Items]
European Commission charge			$ 833
Truck, Parts and Other
Segment Reporting Information [Line Items]
European Commission charge	$ 0	$ 0	$ 833	€ 752.7	$ 0	$ 833

Derivative Financial Instrume58

Derivative Financial Instruments - Additional Information (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative assets	$ 51,700,000		$ 51,700,000		$ 118,400,000
Cash Flow Hedging
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Maximum length of future cash flow hedges			9 years 9 months 18 days
Recognized gain and losses on the ineffective portion			$ 0
Accumulated net loss on derivative contracts included in accumulated other comprehensive loss expected to be recognized in the Consolidated Statements of Comprehensive Income in the following 12 months, net of tax			2,300,000
Gain (losses) reclassified out of AOCI into net income based on the probability that the original forecasted transaction would not occur	0	$ 0	0	$ 300,000
Designated under hedge accounting
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative assets	49,400,000		49,400,000		113,600,000
Interest-Rate Contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount of outstanding contracts	2,879,500,000		2,879,500,000
Notional maturities for interest-rate contracts 2017	129,500,000		129,500,000
Notional maturities for interest-rate contracts 2018	985,800,000		985,800,000
Notional maturities for interest-rate contracts 2019	918,200,000		918,200,000
Notional maturities for interest-rate contracts 2020	383,400,000		383,400,000
Notional maturities for interest-rate contracts 2021	279,700,000		279,700,000
Notional maturities for interest-rate contracts 2022	150,300,000		150,300,000
Notional maturities for interest-rate contracts thereafter	32,600,000		32,600,000
Interest-Rate Contracts | Financial Services | Designated under hedge accounting | Other Assets
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative assets	47,800,000		47,800,000		$ 109,700,000
Foreign-exchange contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative notional amount outstanding	$ 411,900,000		$ 411,900,000
Foreign-exchange contracts maturity period			within one year

Balance Sheet Classifications,

Balance Sheet Classifications, Fair Value, Gross and Pro Forma Net Amounts of Derivative Financial Instruments (Detail) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
ASSETS
Derivative assets	$ 51.7	$ 118.4
Pro forma net amount	41	101.9
LIABILITIES
Derivative liabilities	97.1	49.3
Pro forma net amount	86.4	32.8
Interest-Rate Contracts | Financial Services
ASSETS
Less amounts not offset in financial instruments	(9.6)	(15.4)
LIABILITIES
Less amounts not offset in financial instruments	(9.6)	(15.4)
Foreign-exchange contracts | Financial Services
ASSETS
Less amounts not offset in financial instruments	0	(0.1)
LIABILITIES
Less amounts not offset in financial instruments	0	(0.1)
Foreign-exchange contracts | Truck, Parts and Other
ASSETS
Less amounts not offset in financial instruments	(1.1)	(1)
LIABILITIES
Less amounts not offset in financial instruments	(1.1)	(1)
Designated under hedge accounting
ASSETS
Derivative assets	49.4	113.6
LIABILITIES
Derivative liabilities	95.7	48.2
Designated under hedge accounting | Interest-Rate Contracts | Financial Services | Other Assets
ASSETS
Derivative assets	47.8	109.7
Designated under hedge accounting | Interest-Rate Contracts | Financial Services | Deferred Taxes And Other Liabilities
LIABILITIES
Derivative liabilities	91.3	46.3
Designated under hedge accounting | Foreign-exchange contracts | Truck, Parts and Other | Other current assets
ASSETS
Derivative assets	1.6	3.9
Designated under hedge accounting | Foreign-exchange contracts | Truck, Parts and Other | Accounts payable, accrued expenses and other
LIABILITIES
Derivative liabilities	4.4	1.9
Economic hedge
ASSETS
Derivative assets	2.3	4.8
LIABILITIES
Derivative liabilities	1.4	1.1
Economic hedge | Interest-Rate Contracts | Financial Services | Deferred Taxes And Other Liabilities
LIABILITIES
Derivative liabilities	0	0.1
Economic hedge | Foreign-exchange contracts | Financial Services | Other Assets
ASSETS
Derivative assets	2	4
Economic hedge | Foreign-exchange contracts | Financial Services | Deferred Taxes And Other Liabilities
LIABILITIES
Derivative liabilities	0.6	0.7
Economic hedge | Foreign-exchange contracts | Truck, Parts and Other | Other current assets
ASSETS
Derivative assets	0.3	0.8
Economic hedge | Foreign-exchange contracts | Truck, Parts and Other | Accounts payable, accrued expenses and other
LIABILITIES
Derivative liabilities	$ 0.8	$ 0.3

(Income) or Expense Recognized

(Income) or Expense Recognized in Earnings Related to Fair Value Hedges (Detail) - Financial Services - Interest and other borrowing expenses - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Derivative [Line Items]
Interest-rate swaps	$ 0.4	$ 3.7	$ 1	$ (1.3)
Term notes	$ (0.2)	$ (3.8)	$ (0.6)	$ 0.6

Pre-Tax Effects of Derivative I

Pre-Tax Effects of Derivative Instruments Recognized in OCI (Detail) - Derivative Contracts - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Interest-Rate Contracts
Derivative [Line Items]
Gain (loss) recognized in OCI	$ (23.2)	$ (25.6)	$ (106.3)	$ (78.9)
Foreign-exchange contracts
Derivative [Line Items]
Gain (loss) recognized in OCI	(3)	13.9	(23.4)	23.8
Truck, Parts and Other | Interest-Rate Contracts
Derivative [Line Items]
Gain (loss) recognized in OCI	0	0	0	0
Truck, Parts and Other | Foreign-exchange contracts
Derivative [Line Items]
Gain (loss) recognized in OCI	(3)	13.9	(23.4)	23.8
Financial Services | Interest-Rate Contracts
Derivative [Line Items]
Gain (loss) recognized in OCI	(23.2)	(25.6)	(106.3)	(78.9)
Financial Services | Foreign-exchange contracts
Derivative [Line Items]
Gain (loss) recognized in OCI	$ 0	$ 0	$ 0	$ 0

Expense (Income) Reclassified o

Expense (Income) Reclassified out of AOCI into Income (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Derivative [Line Items]
Income before income taxes	$ (581.8)	$ (494.9)	$ (1,569)	$ (711.5)
Derivative Contracts | Reclassification out of Accumulated Other Comprehensive Income
Derivative [Line Items]
Income before income taxes	28.1	16.8	129.6	63.1
Truck, Parts and Other
Derivative [Line Items]
Net sales and revenues	(4,731.5)	(3,953.2)	(13,065.1)	(12,079.6)
Cost of sales and revenues	4,046.8	3,371.5	11,184.2	10,274.5
Interest and other expense, net	3.2	1.6	3.1	4.2
Income before income taxes	(501.6)	(415.4)	(1,351.7)	(462.3)
Financial Services
Derivative [Line Items]
Interest and other borrowing expenses	38.3	32.2	109.8	95.1
Income before income taxes	(71.2)	(71)	(191.5)	(228.6)
Interest-Rate Contracts | Reclassification out of Accumulated Other Comprehensive Income
Derivative [Line Items]
Income before income taxes	24.6	28.2	110.4	78.5
Interest-Rate Contracts | Truck, Parts and Other | Derivative Contracts | Reclassification out of Accumulated Other Comprehensive Income
Derivative [Line Items]
Net sales and revenues	0	0	0	0
Cost of sales and revenues	0	0	0	0
Interest and other expense, net	0	0	0	0
Interest-Rate Contracts | Financial Services | Derivative Contracts | Reclassification out of Accumulated Other Comprehensive Income
Derivative [Line Items]
Interest and other borrowing expenses	24.6	28.2	110.4	78.5
Foreign-exchange contracts | Reclassification out of Accumulated Other Comprehensive Income
Derivative [Line Items]
Income before income taxes	3.5	(11.4)	19.2	(15.4)
Foreign-exchange contracts | Truck, Parts and Other | Derivative Contracts | Reclassification out of Accumulated Other Comprehensive Income
Derivative [Line Items]
Net sales and revenues	(3)	(11.1)	13.3	(17.6)
Cost of sales and revenues	5.5	0	4.3	0.6
Interest and other expense, net	1	(0.3)	1.6	1.6
Foreign-exchange contracts | Financial Services | Derivative Contracts | Reclassification out of Accumulated Other Comprehensive Income
Derivative [Line Items]
Interest and other borrowing expenses	$ 0	$ 0	$ 0	$ 0

Expense (Income) Recognized in

Expense (Income) Recognized in Earnings Related to Foreign-Exchange Contracts (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Interest-Rate Contracts
Derivative [Line Items]
(Income) Expense recognized in earnings	$ 0	$ 0.1	$ (0.1)	$ 0.1
Interest-Rate Contracts | Cost of sales and revenues
Derivative [Line Items]
(Income) Expense recognized in earnings		0		0
Interest-Rate Contracts | Interest and other expense, net
Derivative [Line Items]
(Income) Expense recognized in earnings	0	0	0	0
Foreign-exchange contracts
Derivative [Line Items]
(Income) Expense recognized in earnings	4.4	(5.4)	48.7	(13.3)
Foreign-exchange contracts | Cost of sales and revenues
Derivative [Line Items]
(Income) Expense recognized in earnings		0.3		1.4
Foreign-exchange contracts | Interest and other expense, net
Derivative [Line Items]
(Income) Expense recognized in earnings	(1)	(1.3)	3.2	(0.5)
Truck, Parts and Other | Interest-Rate Contracts | Cost of sales and revenues
Derivative [Line Items]
(Income) Expense recognized in earnings	0		0
Truck, Parts and Other | Interest-Rate Contracts | Net sales and revenues
Derivative [Line Items]
(Income) Expense recognized in earnings		0		0
Truck, Parts and Other | Foreign-exchange contracts | Cost of sales and revenues
Derivative [Line Items]
(Income) Expense recognized in earnings	0.6		1.3
Truck, Parts and Other | Foreign-exchange contracts | Net sales and revenues
Derivative [Line Items]
(Income) Expense recognized in earnings		(0.4)		(0.4)
Financial Services | Interest-Rate Contracts | Interest and other borrowing expenses
Derivative [Line Items]
(Income) Expense recognized in earnings	0	0.1	(0.1)	0.1
Financial Services | Interest-Rate Contracts | Selling, general and administrative
Derivative [Line Items]
(Income) Expense recognized in earnings	0	0	0	0
Financial Services | Foreign-exchange contracts | Interest and other borrowing expenses
Derivative [Line Items]
(Income) Expense recognized in earnings	4.8	(3.1)	43.4	(11.3)
Financial Services | Foreign-exchange contracts | Selling, general and administrative
Derivative [Line Items]
(Income) Expense recognized in earnings	$ 0	$ (0.9)	$ 0.8	$ (2.5)

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail)	Sep. 30, 2017USD ($)
Fair Value Disclosures [Abstract]
Fair value of assets, transfers from Level 1 to Level 2	$ 0
Fair value of assets, transfers from Level 2 to Level 1	0
Fair value of liabilities, transfers from Level 1 to Level 2	0
Fair value of liabilities, transfers from Level 2 to Level 1	$ 0

Financial Assets and Liabilitie

Financial Assets and Liabilities Subject to Recurring Fair Value Measurements (Detail) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	$ 51.7	$ 118.4
Derivative liabilities	97.1	49.3
Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable debt securities	1,216	1,140.9
Derivative assets	51.7	118.4
Derivative liabilities	97.1	49.3
Fair Value, Measurements, Recurring | Cross currency swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	43.2	102.7
Derivative liabilities	84.1	37.1
Fair Value, Measurements, Recurring | Interest-rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	4.6	7
Derivative liabilities	7.2	9.3
Fair Value, Measurements, Recurring | Foreign-exchange contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	3.9	8.7
Derivative liabilities	5.8	2.9
Fair Value, Measurements, Recurring | U.S. tax-exempt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable debt securities	522	595
Fair Value, Measurements, Recurring | U.S. corporate securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable debt securities	58.9	47.8
Fair Value, Measurements, Recurring | U.S. government and agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable debt securities	12.2	16
Fair Value, Measurements, Recurring | Non-U.S. corporate securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable debt securities	397.9	308
Fair Value, Measurements, Recurring | Non-U.S. government securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable debt securities	97.2	98.2
Fair Value, Measurements, Recurring | Other debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable debt securities	127.8	75.9
Level 1 | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable debt securities	12.2	15.4
Derivative assets	0	0
Derivative liabilities	0	0
Level 1 | Fair Value, Measurements, Recurring | Cross currency swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	0	0
Derivative liabilities	0	0
Level 1 | Fair Value, Measurements, Recurring | Interest-rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	0	0
Derivative liabilities	0	0
Level 1 | Fair Value, Measurements, Recurring | Foreign-exchange contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	0	0
Derivative liabilities	0	0
Level 1 | Fair Value, Measurements, Recurring | U.S. tax-exempt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable debt securities	0	0
Level 1 | Fair Value, Measurements, Recurring | U.S. corporate securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable debt securities	0	0
Level 1 | Fair Value, Measurements, Recurring | U.S. government and agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable debt securities	12.2	15.4
Level 1 | Fair Value, Measurements, Recurring | Non-U.S. corporate securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable debt securities	0	0
Level 1 | Fair Value, Measurements, Recurring | Non-U.S. government securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable debt securities	0	0
Level 1 | Fair Value, Measurements, Recurring | Other debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable debt securities	0	0
Level 2 | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable debt securities	1,203.8	1,125.5
Derivative assets	51.7	118.4
Derivative liabilities	97.1	49.3
Level 2 | Fair Value, Measurements, Recurring | Cross currency swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	43.2	102.7
Derivative liabilities	84.1	37.1
Level 2 | Fair Value, Measurements, Recurring | Interest-rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	4.6	7
Derivative liabilities	7.2	9.3
Level 2 | Fair Value, Measurements, Recurring | Foreign-exchange contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	3.9	8.7
Derivative liabilities	5.8	2.9
Level 2 | Fair Value, Measurements, Recurring | U.S. tax-exempt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable debt securities	522	595
Level 2 | Fair Value, Measurements, Recurring | U.S. corporate securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable debt securities	58.9	47.8
Level 2 | Fair Value, Measurements, Recurring | U.S. government and agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable debt securities	0	0.6
Level 2 | Fair Value, Measurements, Recurring | Non-U.S. corporate securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable debt securities	397.9	308
Level 2 | Fair Value, Measurements, Recurring | Non-U.S. government securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable debt securities	97.2	98.2
Level 2 | Fair Value, Measurements, Recurring | Other debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable debt securities	$ 127.8	$ 75.9

Carrying Amount and Fair Value

Carrying Amount and Fair Value of Financial Services Fixed-Rate Loans and Fixed-Rate Debt (Detail) - Financial Services - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Assets, carrying amount
Fixed-rate loans	$ 3,612.6	$ 3,607.4
Liabilities, carrying amount
Fixed-rate debt	5,372.5	4,915.2
Assets, Fair Value
Fixed-rate loans	3,622.4	3,638.4
Liabilities, Fair Value
Fixed-rate debt	$ 5,378.6	$ 4,929.3

Components of Pension Expense (

Components of Pension Expense (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Postemployment Benefits [Abstract]
Service cost	$ 23.5	$ 22.2	$ 69.5	$ 66.7
Interest on projected benefit obligation	20.5	23.4	60.9	71.1
Expected return on assets	(40.1)	(35.2)	(119.5)	(106.9)
Amortization of prior service costs	0.3	0.3	0.9	0.9
Recognized actuarial loss	6.3	6.9	18.9	20.8
Net pension expense	$ 10.5	$ 17.6	$ 30.7	$ 52.6

Employee Benefit Plans - Additi

Employee Benefit Plans - Additional Information (Detail) - Defined Benefit Pension Plans - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Defined Benefit Plan Disclosure [Line Items]
Estimated Decrease in Pension Expense for 2017 due to change of method used to estimate service cost and interest cost components of pension expense from a single weighted-average method to an individual spot rate approach	$ 15		$ 15
Contribution to pension plans	$ 4.9	$ 5.8	$ 15.3	$ 65.1

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) € in Millions, $ in Millions	Jul. 19, 2016USD ($)	Jul. 19, 2016EUR (€)	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)	Jun. 30, 2016USD ($)	Jun. 30, 2016EUR (€)	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)
Commitments and Contingencies Disclosure [Line Items]
European Commission charge					$ 833
Truck, Parts and Other
Commitments and Contingencies Disclosure [Line Items]
European Commission charge			$ 0	$ 0	$ 833	€ 752.7	$ 0	$ 833
Litigation settlement amount	$ 833	€ 752.7