PACCAR (PCAR) 10-K 17 Feb 21 2020 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Jan. 31, 2021	Jun. 30, 2020
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Entity Registrant Name	PACCAR Inc
Entity Central Index Key	0000075362
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		346,936,820
Entity Public Float			$ 25,440
Entity File Number	001-14817
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	91-0351110
Entity Address, Address Line One	777 - 106th Ave. N.E.
Entity Address, City or Town	Bellevue
Entity Address, State or Province	WA
Entity Address, Postal Zip Code	98004
City Area Code	425
Local Phone Number	468-7400
Document Transition Report	false
Document Annual Report	true
ICFR Auditor Attestation Flag	true
Title of Each Class	Common Stock, $1 par value
Trading Symbol	PCAR
Name of Each Exchange on Which Registered	NASDAQ
Documents Incorporated by Reference	Portions of the proxy statement for the annual stockholders meeting to be held on April 27, 2021 are incorporated by reference into Part III .

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenues	$ 18,728.5	$ 25,599.7	$ 23,495.7
Provision for losses on receivables	28.8	15.4	16.5
Investment income	35.9	82.3	60.9
Income before income taxes	1,657.9	3,099.2	2,810.2
Income taxes	359.5	711.3	615.1
Net Income	$ 1,298.4	$ 2,387.9	$ 2,195.1
Net Income Per Share
Basic	$ 3.74	$ 6.88	$ 6.25
Diluted	$ 3.74	$ 6.87	$ 6.24
Weighted Average Number of Common Shares Outstanding
Basic	346.8	346.9	351
Diluted	347.4	347.5	351.8
Truck, Parts and Other
Net sales and revenues	$ 17,154.3	$ 24,119.7	$ 22,138.6
Cost of sales and revenues	15,076.4	20,555.6	18,925
Research and development	273.9	326.6	306.1
Selling, general and administrative	459.2	561.5	524.9
Interest and other (income), net	(54.1)	(42)	(60.8)
Costs and Expenses, Total	15,755.4	21,401.7	19,695.2
Income before income taxes	1,398.9	2,718	2,443.4
Financial Services
Interest and fees	527.4	583	497.7
Operating lease, rental and other revenues	1,046.8	897	859.4
Revenues	1,574.2	1,480	1,357.1
Interest and other borrowing expenses	192.1	230.5	186.9
Depreciation and other expenses	1,008	798.2	728
Selling, general and administrative	122.2	137	119.8
Provision for losses on receivables	28.8	15.4	16.5
Costs and Expenses, Total	1,351.1	1,181.1	1,051.2
Income before income taxes	$ 223.1	$ 298.9	$ 305.9

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 1,298.4	$ 2,387.9	$ 2,195.1
Unrealized (losses) gains on derivative contracts
Net (loss) gain arising during the period	(105.3)	(76.1)	121.6
Tax effect	26.9	19.1	(30.7)
Reclassification adjustment	87.6	51.7	(121.5)
Tax effect	(23.1)	(12)	31
Net current period OCI, unrealized gains and (losses) on derivative contracts	(13.9)	(17.3)	0.4
Unrealized gains on marketable debt securities
Net holding gain	13.6	11.6	0.2
Tax effect	(3.3)	(2.9)	(0.1)
Reclassification adjustment	(2.4)	(0.4)	(0.2)
Tax effect	0.6	0.1	0.1
Net current period OCI, unrealized gains on marketable debt securities	8.5	8.4
Pension plans
Net loss arising during the period	(132.4)	(74.8)	(114)
Tax effect	28.4	18	27.2
Reclassification adjustment	57.3	21.9	36.7
Tax effect	(13.7)	(5)	(8.7)
Net current period OCI, pension plans	(60.4)	(39.9)	(58.8)
Foreign currency translation gain (loss)	115.6	47.2	(213.3)
Net other comprehensive income (loss)	49.8	(1.6)	(271.7)
Comprehensive Income	$ 1,348.2	$ 2,386.3	$ 1,923.4

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
ASSETS
Equipment on operating leases, net	$ 3,584.7	$ 3,648.1
Property, plant and equipment, net	3,270.4	2,883.8
Total Assets	28,260	28,361.1
STOCKHOLDERS' EQUITY:
Preferred stock, no par value - authorized 1.0 million shares, none issued
Common stock, $1 par value - authorized 1.2 billion shares; issued 346.6 million and 346.3 million shares	346.6	346.3
Additional paid-in capital	88.5	61.4
Retained earnings	11,005.2	10,398.5
Accumulated other comprehensive loss	(1,050.3)	(1,100.1)
Total Stockholders’ Equity	10,390	9,706.1
Liabilities and Equity, Total	28,260	28,361.1
Truck, Parts and Other
ASSETS
Cash and cash equivalents	3,405	4,007.3
Trade and other receivables, net (allowance for losses: 2020 - $.6, 2019 - $.6)	1,197.5	1,306.1
Marketable debt securities (amortized cost: 2020 - $1,409.7, 2019 - $1,154.0; allowance for credit losses: none)	1,429	1,162.1
Inventories, net	1,221.9	1,153.2
Other current assets	515.6	388
Total Truck, Parts and Other Current Assets	7,769	8,016.7
Equipment on operating leases, net	421.9	545.5
Property, plant and equipment, net	3,270.4	2,883.8
Other noncurrent assets, net	998.9	843.7
Total Assets	12,460.2	12,289.7
Liabilities
Accounts payable, accrued expenses and other	3,413.9	3,194.2
Dividend payable	242.6	796.5
Total Truck, Parts and Other Current Liabilities	3,656.5	3,990.7
Residual value guarantees and deferred revenues	457.4	587.3
Other liabilities	1,487.2	1,435.1
Total Liabilities	5,601.1	6,013.1
Financial Services
ASSETS
Cash and cash equivalents	134.6	167.8
Finance and other receivables, net (allowance for losses: 2020 - $127.0, 2019 - $112.4)	11,820.7	12,086
Equipment on operating leases, net	3,162.8	3,102.6
Other assets	681.7	715
Total Assets	15,799.8	16,071.4
Liabilities
Accounts payable, accrued expenses and other	561	629
Commercial paper and bank loans	3,344.4	4,110.2
Term notes	7,508.9	7,112.5
Deferred taxes and other liabilities	854.6	790.2
Total Liabilities	$ 12,268.9	12,641.9
STOCKHOLDERS' EQUITY:
Retained earnings		$ 10,398.5

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Marketable debt securities, allowance	$ 0	$ 0
Preferred stock, no par value	$ 0	$ 0
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	346,600,000	346,300,000
Truck, Parts and Other
Allowance for losses	$ 600,000	$ 600,000
Marketable debt securities, amortized cost	1,409,700,000	1,154,000,000
Marketable debt securities, allowance	0	0
Financial Services
Allowance for credit losses	$ 127,000,000	$ 112,400,000

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
OPERATING ACTIVITIES:
Net Income	$ 1,298.4	$ 2,387.9	$ 2,195.1
Adjustments to reconcile net income to cash provided by operations:
Depreciation and amortization, Property, plant and equipment	249.6	322.2	337.6
Depreciation and amortization, Equipment on operating leases and other	799.4	755.1	716.5
Provision for losses on financial services receivables	28.8	15.4	16.5
Deferred taxes	(0.5)	70.8	17.5
Other, net	20.4	26.6	35.1
Pension contributions	(184.9)	(35.7)	(88.9)
Decrease (increase) in assets other than cash and cash equivalents:
Trade and other receivables	121.8	(72.3)	(299.1)
Wholesale receivables on new trucks	871.2	(520.2)	(512.3)
Inventories	(48.2)	24.6	(332.7)
Other assets, net	(133.8)	(365.4)	(187)
(Decrease) increase in liabilities:
Accounts payable and accrued expenses	(53.6)	(27.6)	528.9
Residual value guarantees and deferred revenues	(127.8)	(179.7)	275
Other liabilities, net	146.4	458.6	290.1
Net Cash Provided by Operating Activities	2,987.2	2,860.3	2,992.3
INVESTING ACTIVITIES:
Originations of retail loans and finance leases	(3,917.3)	(4,081.8)	(3,858.9)
Collections on retail loans and finance leases	3,252	3,388.8	2,914
Net decrease (increase) in wholesale receivables on used equipment	53.3	(47.7)	(0.9)
Purchases of marketable debt securities	(842.4)	(850.6)	(615.9)
Proceeds from sales and maturities of marketable debt securities	597.8	715.5	931.5
Payments for property, plant and equipment	(550.4)	(574)	(457.6)
Acquisitions of equipment for operating leases	(1,088)	(1,396.8)	(1,494.7)
Proceeds from asset disposals	601.9	638.1	653.7
Other, net	17.3	1.1	(1.9)
Net Cash Used in Investing Activities	(1,875.8)	(2,207.4)	(1,930.7)
FINANCING ACTIVITIES:
Payments of cash dividends	(1,239.8)	(1,138.6)	(804.3)
Purchases of treasury stock	(42.1)	(110.2)	(354.4)
Proceeds from stock compensation transactions	53.7	60.8	19.3
Net (decrease) increase in commercial paper, short-term bank loans and other	(831.9)	557.1	625.9
Proceeds from term debt	2,150.1	2,504.3	2,339.9
Payments on term debt	(1,898.5)	(1,790)	(1,755.3)
Net Cash (Used in) Provided by Financing Activities	(1,808.5)	83.4	71.1
Effect of exchange rate changes on cash	61.6	2.9	(61.5)
Net (Decrease) Increase in Cash and Cash Equivalents	(635.5)	739.2	1,071.2
Cash and cash equivalents at beginning of year	4,175.1	3,435.9	2,364.7
Cash and cash equivalents at end of year	$ 3,539.6	$ 4,175.1	$ 3,435.9

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) $ in Millions	Total	COMMON STOCK, $1 PAR VALUE:	ADDITIONAL PAID-IN CAPITAL:	TREASURY STOCK, AT COST:	RETAINED EARNINGS:	RETAINED EARNINGS:Cumulative Effect, Period of Adoption, Adjustment	ACCUMULATED OTHER COMPREHENSIVE LOSS:
Beginning balance at Dec. 31, 2017		$ 351.8	$ 123.2		$ 8,369.1		$ (793.6)
Net income	$ 2,195.1				2,195.1
Purchases, shares: 2020 - .71; 2019 - 1.68; 2018 - 5.85				$ (354.4)
Cash dividends declared on common stock,per share: 2020 - $1.98; 2019 - $3.58; 2018 - $3.09					(1,078.8)
Treasury stock retirement		(5.8)	(88.3)	354.4	(260.3)
Stock compensation		0.6
Stock compensation and tax benefit			34.5
Other comprehensive income (loss)	(271.7)						(271.7)
Reclassifications to retained earnings in accordance with ASU 2018-02							(33.2)
Ending balance at Dec. 31, 2018	8,592.9	346.6	69.4		9,275.4	$ 50.3	(1,098.5)
Net income	2,387.9				2,387.9
Purchases, shares: 2020 - .71; 2019 - 1.68; 2018 - 5.85				(110.2)
Cash dividends declared on common stock,per share: 2020 - $1.98; 2019 - $3.58; 2018 - $3.09					(1,242)
Treasury stock retirement		(1.7)	(85.7)	110.2	(22.8)
Stock compensation		1.4
Stock compensation and tax benefit			77.7
Other comprehensive income (loss)	(1.6)						(1.6)
Ending balance at Dec. 31, 2019	9,706.1	346.3	61.4		10,398.5		(1,100.1)
Net income	1,298.4				1,298.4
Purchases, shares: 2020 - .71; 2019 - 1.68; 2018 - 5.85				(42.1)
Cash dividends declared on common stock,per share: 2020 - $1.98; 2019 - $3.58; 2018 - $3.09					(687.1)
Treasury stock retirement		(0.7)	(41.4)	$ 42.1
Stock compensation		1
Stock compensation and tax benefit			68.5
Other comprehensive income (loss)	49.8						49.8
Ending balance at Dec. 31, 2020	$ 10,390	$ 346.6	$ 88.5		$ 11,005.2	$ (4.6)	$ (1,050.3)

Consolidated Statements of St_2

Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
TREASURY STOCK, AT COST:
Purchases, shares	710,000	1,680,000	5,850,000
RETAINED EARNINGS:
Cash dividends declared on common stock, per share	$ 1.98	$ 3.58	$ 3.09

Significant Accounting Policies

Significant Accounting Policies	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Significant Accounting Policies	A. SIGNIFICANT ACCOUNTING POLICIES Description of Operations: PACCAR Inc (the Company or PACCAR) is a multinational company operating in three principal segments: (1) the Truck segment includes the design and manufacture of high-quality, light-, medium- and heavy-duty commercial trucks; (2) the Parts segment includes the distribution of aftermarket parts for trucks and related commercial vehicles; and (3) the Financial Services segment (PFS) includes finance and leasing products and services provided to customers and dealers. PACCAR’s finance and leasing activities are principally related to PACCAR products and associated equipment. PACCAR’s sales and revenues are derived primarily from North America and Europe. The Company also operates in Australia and Brasil and sells trucks and parts to customers in Asia, Africa, the Middle East and South America. Principles of Consolidation: The consolidated financial statements include the accounts of the Company and its wholly owned domestic and foreign subsidiaries. All significant intercompany accounts and transactions are eliminated in consolidation. Use of Estimates: The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. Revenue Recognition: Truck, Parts and Other: The Company enters into sales contracts with customers associated with purchases of the Company’s products and services including trucks, parts, product support, and other related services. Generally, the Company recognizes revenue for the amount of consideration it will receive for delivering a product or service to a customer. Revenue is recognized when the customer obtains control of the product or receives benefits of the service. The Company excludes sales taxes, value added taxes and other related taxes assessed by government agencies from revenue. There are no significant financing components included in product or services revenue since generally customers pay shortly after the products or services are transferred. In the Truck and Parts segment, when the Company grants extended payment terms on selected receivables and charges interest, interest income is recognized when earned. The Company recognizes truck and parts sales as revenue when control of the products is transferred to customers which generally occurs upon shipment, except for certain truck sales which are subject to a residual value guarantee (RVG) by the Company. The standard payment term for trucks and aftermarket parts is typically within 30 days, but the Company may grant extended payment terms on selected receivables. The Company recognizes revenue for the invoice amount adjusted for estimated sales incentives and returns. Sales incentives and returns are estimated based on historical experience and are adjusted to current period revenue when the most likely amount of consideration the Company expects to receive changes or becomes fixed. Truck and part sales include a standard product warranty which is included in cost of sales. The Company has elected to treat delivery services as a fulfillment activity with revenues recognized when the customer obtains control of the product. Delivery revenue is included in revenues and the related costs are included in cost of sales. As a practical expedient, the Company is not disclosing truck order backlog, as a significant majority of the backlog has a duration of less than one year. Truck sales with RVGs that allow customers the option to return their truck are accounted for as a sale when the customer does not have an economic incentive to return the truck to the Company, or as an operating lease when the customer does have an economic incentive to return the truck. The estimate of customers’ economic incentive to return the trucks is based on an analysis of historical guaranteed buyback value and estimated market value. When truck sales with RVGs are accounted for as a sale, revenue is recognized when the truck is transferred to the customer less an amount for expected returns. Expected return rates are estimated by using a historical weighted average return rate over a seven-year Revenues from extended warranties, operating leases and other include optional extended warranty and repair and maintenance (R&M) service contracts which can be purchased for periods generally ranging up to five years. The Company defers revenue based on stand-alone observable selling prices when it receives payments in advance and generally recognizes the revenue on a straight-line basis over the warranty or R&M contract periods. See Note I, Product Support Liabilities, in the Notes to the Consolidated Financial Statements for further information. Also included are truck sales with an RVG accounted for as an operating lease. A liability is created for the residual value obligation with the remainder of the proceeds recorded as deferred revenue. The deferred revenue is recognized on a straight-line basis over the guarantee period, which typically ranges from three to five years. Total operating lease income from truck sales with RVGs for the years ended December 31, 2020, 2019 and 2018 was $104.2, $159.7 and $152.6, respectively. Aftermarket parts sales allow for returns which are estimated at the time of sale based on historical data. At December 31, 2020, the estimated value of the returned goods asset and the related return liability were $62.2 and $142.0, respectively, compared to $56.3 and $126.3 at December 31, 2019, respectively. Parts dealer services and other revenues are recognized as services are performed. Revenue from winch sales and other is primarily derived from the industrial winch business. Winch sales are recognized when the product is transferred to a customer, which generally occurs upon shipment. Also within this category are other revenues not attributable to a reportable segment. Financial Services: The Company’s Financial Services segment products include loans to customers collateralized by the vehicles being financed, finance leases to lease equipment to retail customers and dealers, dealer wholesale financing which includes floating-rate wholesale loans to PACCAR dealers for new and used trucks, and operating leases which include rentals on Company owned equipment. Interest income from finance and other receivables is recognized using the interest method. Certain loan origination costs are deferred and amortized to interest income over the expected life of the contracts using the straight-line method which approximates the interest method. Operating lease rental revenue is recognized on a straight-line basis over the term of the lease. Customer contracts may include additional services such as excess mileage, repair and maintenance and other services on which revenue is recognized when earned. The Company’s full-service lease arrangements bundle these additional services. Rents for full-service lease contracts are allocated between lease and non-lease components based on the relative stand-alone price of each component. Taxes, such as sales and use and value added, which are collected by the Company from a customer, are excluded from the measurement of lease income and expenses. Rental revenues for the years ended December 31, 2020, 2019 and 2018 were $802.3, $798.2 and $797.1, respectively. Depreciation and related leased unit operating expenses were $776.5, $721.6 and $686.9 for the years ended December 31, 2020, 2019 and 2018, respectively. 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 December 31, 2020 or December 31, 2019. 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. Finance leases are secured by the trucks and related equipment being leased and the lease terms generally range from three to five years depending on the type and use of the equipment. The lessee is required to either purchase the equipment or guarantee to the Company a stated residual value upon the disposition of the equipment at the end of the finance lease term. Operating lease terms generally range from three to five years. At the end of the operating lease term, the lessee has the option to return the equipment to the Company or purchase the equipment at its fair market value. The Company determines its estimate of the residual value of leased vehicles by considering the length of the lease term, the truck model, the expected usage of the truck and anticipated market demand. If the sales price of the truck at the end of the agreement differs from the Company’s estimated residual value, a gain or loss will result. Future market conditions, changes in government regulations and other factors outside the Company’s control could impact the ultimate sales price of trucks returned under these contracts. Residual values are reviewed regularly and adjusted if market conditions warrant. Cash and Cash Equivalents: Cash equivalents consist of liquid investments with a maturity at date of purchase of 90 days or less. Marketable Debt Securities: The Company's investments in marketable debt securities are classified as available-for-sale. These investments are stated at fair value and may include an allowance for credit losses. Changes in the allowance for credit losses are recognized in the current period earnings and any unrealized gains or losses, net of tax, are 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 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 the result of credit losses or unrealized losses. In assessing credit losses, 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. The Company considers its intent for selling the security and whether it is more likely than not the Company will be able to hold the security until the recovery of any credit losses and unrealized losses. Charges against the allowance for credit losses occur when a security with credit losses is sold or the Company no longer intends to hold that security. Receivables: Trade and Other Receivables: The Company’s trade and other receivables are recorded at cost, net of allowances. At December 31, 2020 and 2019, respectively, trade and other receivables included trade receivables from dealers and customers of $942.7 and $1,055.0 and other receivables of $254.8 and $251.1 relating primarily to value added tax receivables and supplier allowances and rebates. Finance and Other Receivables: Loans – Loans represent fixed or floating-rate loans to customers collateralized by the vehicles purchased and are recorded at amortized cost. Finance leases – Finance leases are sales-type finance leases, which lease equipment to retail customers and dealers. These leases are reported as the sum of minimum lease payments receivable and estimated residual value of the property subject to the contracts, reduced by unearned interest. Dealer wholesale financing – Dealer wholesale financing is floating-rate wholesale loans to PACCAR dealers for new and used trucks and are recorded at amortized cost. The loans are collateralized by the trucks being financed. Operating lease receivables and other – Operating lease receivables and other include monthly rentals due on operating leases, unamortized loan and lease origination costs, interest on loans and other amounts due within one year in the normal course of business. Allowance for Credit Losses: Truck, Parts and Other: The Company historically has not experienced significant losses or past due amounts on trade and other receivables in its Truck, Parts and Other businesses. Accounts are considered past due once the unpaid balance is over 30 days Financial Services: 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 a loan or finance lease for credit reasons and grants a concession, the modification is classified as a troubled debt restructuring (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. In accordance with FASB statement, Prudential Regulator Guidance Concerning Troubled Debt Restructurings , issued on March 22, 2020, short-term modifications granted to customers were not considered TDRs if they were not past due and were seeking to manage their liquidity needs because of the effects of the COVID-19 pandemic. On average, modifications extended contractual terms by approximately three months in 2020 and five months in 2019 and did not have a significant effect on the weighted average term or interest rate of the total portfolio at December 31, 2020 and 2019. 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 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 three to five years, 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 amortized cost basis, 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 and share similar risk characteristics 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, current market conditions, and expected changes in future macroeconomic conditions that affect collectability. Historical credit loss data provides relevant information of expected credit losses. The historical information used includes assumptions regarding the likelihood of collecting current and past due accounts, repossession rates, and 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 based on current market conditions and other factors impacting the creditworthiness of the Company’s borrowers and their ability to repay. Adjustments to historical loss information are made for changes in forecasted economic conditions that are specific to the industry and markets in which the Company conducts business. The Company utilizes economic forecasts from third party sources and determines expected losses based on historical experience under similar market conditions. 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 expected 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 amortized cost basis. 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. Cost of sales and revenues include shipping and handling costs incurred to deliver products to dealers and customers. Equipment on Operating Leases: The Company’s Financial Services segment leases equipment under operating leases to its customers. In addition, in the Truck segment, equipment sold to customers in Europe subject to an RVG by the Company may be accounted for as an operating lease. Equipment is recorded at cost and is depreciated on the straight-line basis to the lower of the estimated residual value or guarantee value. Lease and guarantee periods generally range from three to five years. Estimated useful lives of the equipment range from three to ten years. The Company reviews residual values of equipment on operating leases periodically to determine that recorded amounts are appropriate. Property, Plant and Equipment: Property, plant and equipment are stated at cost. Depreciation is computed by the straight-line method based on the estimated useful lives of various classes of assets. Certain production tooling and equipment are amortized on a unit of production basis. Long-lived Assets and Goodwill: The Company evaluates the carrying value of property, plant and equipment when events and circumstances warrant a review. Goodwill is tested for impairment at least on an annual basis. There were no significant impairment charges for the three years ended December 31, 2020. Goodwill was $118.8 and $109.1 at December 31, 2020 and 2019, respectively. The increase in value was due to currency translation. Product Support Liabilities: Product support liabilities include estimated future payments related to product warranties and deferred revenues on optional extended warranties and 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 and current data and reasonable expectations for the future regarding the frequency and cost of warranty 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 rate and foreign currency risk. Certain derivative instruments designated as fair value hedges, cash flow hedges or net investment hedges are subject to hedge accounting. Derivative instruments that are not subject to hedge accounting are held as derivatives not designated as hedged instruments. 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 derivative counterparties is limited to the asset position of its derivative portfolio. The asset position of the Company’s derivative portfolio was $20.5 at December 31, 2020 The Company uses regression analysis to assess effectiveness of interest-rate contracts and net investment hedges at inception and uses quantitative analysis to assess subsequent effectiveness 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. Hedge accounting is discontinued prospectively when the Company determines that a derivative financial instrument has ceased to be a highly effective hedge. Cash flows from derivative instruments are included in operating activities in the Consolidated Statements of Cash Flows. Foreign Currency Translation: For most of the Company’s foreign subsidiaries, the local currency is the functional currency. All assets and liabilities are translated at year-end exchange rates and all income statement amounts are translated at the weighted average rates for the period. Translation adjustments are recorded in AOCI. The Company uses the U.S. dollar as the functional currency for all but one of its Mexican subsidiaries, which uses the local currency. For the U.S. functional currency entities in Mexico, inventories, cost of sales, property, plant and equipment and depreciation are remeasured at historical rates and resulting adjustments are included in net income. 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. New Accounting Pronouncements New Credit Loss Standard In June 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments The cumulative effect of the changes made to the Company’s Consolidated Balance Sheet on January 1, 2020 for the adoption of ASU 2016-13 was as follows: BALANCE AT DECEMBER 31, 2019 CHANGE DUE TO NEW STANDARD BALANCE AT JANUARY 1, 2020 Consolidated Balance Sheets FINANCIAL SERVICES: ASSETS Finance and other receivables, net $ 12,086.0 $ (6.2 ) $ 12,079.8 Other assets 715.0 .1 715.1 LIABILITIES Deferred taxes and other liabilities 790.2 (1.5 ) 788.7 STOCKHOLDERS' EQUITY Retained earnings 10,398.5 (4.6 ) 10,393.9 Other New Accounting Pronouncements In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting . This ASU provides temporary optional guidance to ease the potential burden in accounting for reference rate reform. The new guidance provides optional expedients and exceptions for applying GAAP to contract modifications and hedging relationships, subject to meeting certain criteria, that reference LIBOR or another reference rate expected to be discontinued. The ASU is intended to help stakeholders during the global market-wide reference rate transition period and will be in effect for a limited time through December 31, 2022. The Company adopted this ASU as of October 1, 2020. The Company will apply the accounting relief as relevant contract and hedge accounting relationship modifications are made during the reference rate reform transition period. The Company does not expect the standard to have a material impact on its consolidated financial statements. In addition to adopting the ASUs disclosed above, the Company adopted the following standards on January 1, 2020, which had no material impact on the Company’s consolidated financial statements. STANDARD DESCRIPTION 2018-13 Fair Value Measurement (Topic 820): Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement. 2018-15 Intangibles – Goodwill and Other – Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract. 2019-12 Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes. The FASB also issued the following standard, which is not expected to have a material impact on the Company’s consolidated financial statements. STANDARD DESCRIPTION EFFECTIVE DATE 2018-14 * Compensation – Retirement Benefits – Defined Benefit Plans – General (Topic 715-20): Disclosure Framework – Changes to the Disclosure Requirements for Defined Benefit Plans. January 1, 2021 * The Company will adopt on the effective date.

Sales and Revenues

Sales and Revenues	12 Months Ended
	Dec. 31, 2020
Sales And Revenues [Abstract]
Sales and Revenues	B. SALES AND REVENUES The following table disaggregates Truck, Parts and Other revenues by major sources: Year Ended December 31, 2020 2019 Truck Truck sales $ 12,466.9 $ 19,225.2 Revenues from extended warranties, operating leases and other 697.9 764.3 13,164.8 19,989.5 Parts Parts sales 3,803.3 3,912.1 Revenues from dealer services and other 109.6 112.8 3,912.9 4,024.9 Winch sales and other 76.6 105.3 Truck, Parts and Other sales and revenues $ 17,154.3 $ 24,119.7 The following table summarizes Financial Services lease revenues by lease type: Year Ended December 31, 2020 2019 Finance lease revenues $ 189.2 $ 199.7 Operating lease revenues 802.3 798.2 Total lease revenues $ 991.5 $ 997.9

Investments in Marketable Debt

Investments in Marketable Debt Securities	12 Months Ended
	Dec. 31, 2020
Available For Sale Securities [Abstract]
Investments in Marketable Debt Securities	C. INVESTMENTS IN MARKETABLE DEBT SECURITIES Marketable debt securities consisted of the following at December 31: AMORTIZED UNREALIZED UNREALIZED FAIR 2020 COST GAINS LOSSES VALUE U.S. tax-exempt securities $ 388.1 $ 4.4 $ .1 $ 392.4 U.S. corporate securities 229.6 3.3 232.9 U.S. government and agency securities 92.1 2.3 94.4 Non-U.S. corporate securities 406.0 5.5 411.5 Non-U.S. government securities 77.0 .5 77.5 Other debt securities 216.9 3.4 220.3 $ 1,409.7 $ 19.4 $ .1 $ 1,429.0 AMORTIZED UNREALIZED UNREALIZED FAIR 2019 COST GAINS LOSSES VALUE U.S. tax-exempt securities $ 318.1 $ 2.2 $ .1 $ 320.2 U.S. corporate securities 163.8 1.9 165.7 U.S. government and agency securities 128.4 .9 129.3 Non-U.S. corporate securities 347.7 2.3 .2 349.8 Non-U.S. government securities 72.3 .2 .1 72.4 Other debt securities 123.7 1.1 .1 124.7 $ 1,154.0 $ 8.6 $ .5 $ 1,162.1 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 $2.7, $1.3 and $1.1, and gross realized losses were $.3, $.4 and $.8 for the years ended December 31, 2020, 2019 and 2018, respectively. Marketable debt securities with continuous unrealized losses and their related fair values were as follows: At December 31, 2020 2019 LESS THAN TWELVE MONTHS TWELVE MONTHS OR GREATER LESS THAN TWELVE MONTHS TWELVE MONTHS OR GREATER Fair value $ 81.1 $ 1.3 $ 177.0 $ 31.4 Unrealized losses .1 .4 .1 The unrealized losses on the investments above were due to higher yields on certain securities. The Company did not identify any indicators of a credit loss in its assessments. Accordingly, no allowance for credit losses was recorded at December 31, 2020 and December 31, 2019. The Company does not currently intend, and it is more likely than not, that it will not be required to sell the investment securities before recovery of the unrealized losses. The Company expects that the contractual principal and interest will be received on the investment securities. Contractual maturities on marketable debt securities at December 31, 2020 AMORTIZED FAIR Maturities: COST VALUE Within one year $ 313.9 $ 315.7 One to five years 1,088.6 1,106.1 Six to ten years 5.2 5.2 More than ten years 2.0 2.0 $ 1,409.7 $ 1,429.0 Marketable debt securities included nil and $49.7 of variable rate demand obligations (VRDOs) at December 31, 2020 and 2019, respectively. VRDOs are debt instruments with long-term scheduled maturities which have interest rates that reset periodically. Actual maturities of VRDOs may differ from contractual maturities because these securities may be sold when interest rates are reset.

Inventories

Inventories	12 Months Ended
	Dec. 31, 2020
Inventory Disclosure [Abstract]
Inventories	D. INVENTORIES Inventories include the following: At December 31, 2020 2019 Finished products $ 610.0 $ 584.6 Work in process and raw materials 801.9 754.9 1,411.9 1,339.5 Less LIFO reserve (190.0 ) (186.3 ) $ 1,221.9 $ 1,153.2 Inventories valued using the LIFO method comprised 42% and 46% of consolidated inventories before deducting the LIFO reserve at December 31, 2020 and 2019, respectively.

Finance and Other Receivables

Finance and Other Receivables	12 Months Ended
	Dec. 31, 2020
Receivables [Abstract]
Finance and Other Receivables	E. FINANCE AND OTHER RECEIVABLES Finance and other receivables include the following: At December 31, 2020 2019 Loans $ 5,839.1 $ 5,241.7 Finance leases 3,944.7 3,906.7 Dealer wholesale financing 2,012.4 2,907.4 Operating lease receivables and other 151.5 142.6 $ 11,947.7 $ 12,198.4 Less allowance for losses: Loans and leases (120.4 ) (104.4 ) Dealer wholesale financing (3.4 ) (4.3 ) Operating lease receivables and other (3.2 ) (3.7 ) $ 11,820.7 $ 12,086.0 Included in Finance and other receivables, net on the Consolidated Balance Sheets is accrued interest receivable (net of allowance for credit losses) of $35.6 and $29.5 as of December 31, 2020 and December 31, 2019, respectively. The net activity of dealer direct loans and dealer wholesale financing on new trucks is shown in the operating section of the Consolidated Statements of Cash Flows since those receivables finance the sale of Company inventory. Annual minimum payments due on loans are as follows: Beginning January 1, LOANS 2021 $ 1,758.4 2022 1,480.1 2023 1,223.6 2024 881.8 2025 380.0 Thereafter 115.2 $ 5,839.1 Annual minimum payments due on finance lease r eceivables and a reconciliation of the undiscounted cash flows to the net investment in finance leases are as follows: FINANCE Beginning January 1, LEASES 2021 $ 1,310.4 2022 1,030.5 2023 775.0 2024 458.8 2025 223.4 Thereafter 82.5 3,880.6 Unguaranteed residual values 458.8 Unearned interest on finance leases (394.7 ) Net investment in finance leases $ 3,944.7 Experience indicates substantially all of dealer wholesale financing will be repaid within one year. In addition, repayment experience indicates that some loans, leases and other finance receivables will be paid prior to contract maturity, while others may be extended or modified. 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. Allowance for Credit Losses: The allowance for credit losses is summarized as follows: 2020 DEALER CUSTOMER WHOLESALE RETAIL RETAIL OTHER* TOTAL** Balance at January 1 $ 4.3 $ 9.2 $ 101.4 $ 3.7 $ 118.6 Provision for losses (1.0 ) (.8 ) 30.1 .5 28.8 Charge-offs (26.6 ) (1.4 ) (28.0 ) Recoveries 5.3 .4 5.7 Currency translation and other .1 1.8 1.9 Balance at December 31 $ 3.4 8.4 $ 112.0 $ 3.2 $ 127.0 2019 DEALER CUSTOMER WHOLESALE RETAIL RETAIL OTHER* TOTAL Balance at January 1 $ 6.8 $ 10.0 $ 93.8 $ 3.2 $ 113.8 Provision for losses (1.6 ) (1.0 ) 14.2 3.8 15.4 Charge-offs (.6 ) (24.2 ) (3.6 ) (28.4 ) Recoveries 10.7 .3 11.0 Currency translation and other (.3 ) .2 .7 .6 Balance at December 31 $ 4.3 $ 9.2 $ 95.2 $ 3.7 $ 112.4 * Operating lease and other trade receivables. ** The beginning balance has been adjusted for the adoption of ASU 2016-13. 2018 DEALER CUSTOMER WHOLESALE RETAIL RETAIL OTHER* TOTAL Balance at January 1 $ 6.0 $ 9.4 $ 92.5 $ 9.3 $ 117.2 Provision for losses 1.0 .7 13.6 1.2 16.5 Charge-offs (20.0 ) (7.5 ) (27.5 ) Recoveries 9.9 .4 10.3 Currency translation and other (.2 ) (.1 ) (2.2 ) (.2 ) (2.7 ) Balance at December 31 $ 6.8 $ 10.0 $ 93.8 $ 3.2 $ 113.8 * Operating lease and other trade receivables. Information regarding finance receivables evaluated and determined individually and collectively is as follows: DEALER CUSTOMER At December 31, 2020 WHOLESALE RETAIL RETAIL TOTAL Amortized cost basis for impaired finance receivables evaluated individually $ 1.2 $ 86.7 $ 87.9 Allowance for impaired finance receivables determined individually 5.6 5.6 Amortized cost basis for finance receivables evaluated collectively $ 2,012.4 1,701.9 7,994.0 11,708.3 Allowance for finance receivables determined collectively 3.4 8.4 106.4 118.2 DEALER CUSTOMER At December 31, 2019 WHOLESALE RETAIL RETAIL TOTAL Amortized cost basis for impaired finance receivables evaluated individually $ 2.3 $ 47.6 $ 49.9 Allowance for impaired finance receivables determined individually 6.5 6.5 Amortized cost basis for finance receivables evaluated collectively $ 2,907.4 1,643.3 7,455.2 12,005.9 Allowance for finance receivables determined collectively 4.3 9.2 88.7 102.2 The amortized cost basis for finance receivables that are on non-accrual status is as follows: At December 31, 2020 2019 Dealer: Retail $ 1.2 $ 2.3 Customer retail: Fleet 78.6 40.2 Owner/operator 8.1 7.2 $ 87.9 $ 49.7 Impaired Loans: Impaired loans are summarized below. The impaired loans with specific reserve represent the unpaid principal balance. The amortized cost basis of impaired loans as of December 31, 2020 and 2019 was not significantly different than the unpaid principal balance. DEALER CUSTOMER RETAIL At December 31, 2020 WHOLESALE RETAIL FLEET OWNER/ OPERATOR TOTAL Impaired loans with a specific reserve $ 22.6 $ 2.1 $ 24.7 Associated allowance (1.6 ) (.3 ) (1.9 ) 21.0 1.8 22.8 Impaired loans with no specific reserve $ 1.2 1.2 Net carrying amount of impaired loans $ 1.2 $ 21.0 $ 1.8 $ 24.0 Average amortized cost basis $ 1.6 $ 26.5 $ 2.8 $ 30.9 DEALER CUSTOMER RETAIL At December 31, 2019 WHOLESALE RETAIL FLEET OWNER/ OPERATOR TOTAL Impaired loans with a specific reserve $ 10.9 $ 3.1 $ 14.0 Associated allowance (2.1 ) (.6 ) (2.7 ) 8.8 2.5 11.3 Impaired loans with no specific reserve $ 2.3 6.7 .4 9.4 Net carrying amount of impaired loans $ 2.3 $ 15.5 $ 2.9 $ 20.7 Average amortized cost basis $ 4.9 $ 2.4 $ 16.6 $ 3.4 $ 27.3 During the period the loans above were considered impaired, interest income recognized on a cash basis was as follows: Year Ended December 31, 2020 2019 2018 Dealer: Retail $ .2 $ .2 Customer retail: Fleet 1.5 1.3 $ 2.0 Owner/operator .2 .2 .2 $ 1.9 $ 1.7 $ 2.2 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 table below summarizes the amortized cost basis of the Company’s finance receivables within each credit quality indicator by year of origination and portfolio class. Revolving At December 31, 2020 Loans 2020 2019 2018 2017 2016 Prior Total Dealer: Wholesale: Performing $ 2,004.5 $ 2,004.5 Watch 7.9 7.9 $ 2,012.4 $ 2,012.4 Retail: Performing $ 20.7 $ 504.2 $ 474.9 $ 268.0 $ 180.1 $ 100.4 $ 132.0 $ 1,680.3 Watch 5.2 10.5 4.5 1.4 21.6 At-risk 1.2 1.2 $ 20.7 $ 509.4 $ 485.4 $ 272.5 $ 181.5 $ 101.6 $ 132.0 $ 1,703.1 Total Dealer $ 2,033.1 $ 509.4 $ 485.4 $ 272.5 $ 181.5 $ 101.6 $ 132.0 $ 3,715.5 Customer Retail: Fleet: Performing $ 2,664.9 $ 1,921.6 $ 1,203.7 $ 533.7 $ 234.2 $ 65.2 $ 6,623.3 Watch 13.5 17.8 11.8 5.9 1.5 1.2 51.7 At-risk 8.0 37.0 18.2 12.2 2.4 .8 78.6 $ 2,686.4 $ 1,976.4 $ 1,233.7 $ 551.8 $ 238.1 $ 67.2 $ 6,753.6 Owner/Operator: Performing $ 554.6 $ 376.4 $ 225.1 $ 105.2 $ 41.2 $ 9.1 $ 1,311.6 Watch 1.6 2.7 2.0 .7 .2 .2 7.4 At-risk .9 2.1 3.2 1.2 .4 .3 8.1 $ 557.1 $ 381.2 $ 230.3 $ 107.1 $ 41.8 $ 9.6 $ 1,327.1 Total Customer Retail $ 3,243.5 $ 2,357.6 $ 1,464.0 $ 658.9 $ 279.9 $ 76.8 $ 8,080.7 Total $ 2,033.1 $ 3,752.9 $ 2,843.0 $ 1,736.5 $ 840.4 $ 381.5 $ 208.8 $ 11,796.2 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 At December 31, 2020 WHOLESALE RETAIL FLEET OWNER/ OPERATOR TOTAL Current and up to 30 days past due $ 2,012.4 $ 1,703.1 $ 6,718.3 $ 1,314.7 $ 11,748.5 31 – 60 days past due 12.3 6.5 18.8 Greater than 60 days past due 23.0 5.9 28.9 $ 2,012.4 $ 1,703.1 $ 6,753.6 $ 1,327.1 $ 11,796.2 DEALER CUSTOMER RETAIL At December 31, 2019 WHOLESALE RETAIL FLEET OWNER/ OPERATOR TOTAL Current and up to 30 days past due $ 2,907.4 $ 1,645.6 $ 6,297.1 $ 1,140.7 $ 11,990.8 31 – 60 days past due 23.0 8.7 31.7 Greater than 60 days past due 27.6 5.7 33.3 $ 2,907.4 $ 1,645.6 $ 6,347.7 $ 1,155.1 $ 12,055.8 Troubled Debt Restructurings: The balance of TDRs was $63.1 and $14.1 at December 31, 2020 and 2019, respectively. At modification date, the pre-modification and post-modification amortized cost basis balances for finance receivables modified during the period by portfolio class were as follows: 2020 2019 AMORTIZED COST BASIS AMORTIZED COST BASIS PRE-MODIFICATION POST-MODIFICATION PRE-MODIFICATION POST-MODIFICATION Fleet $ 72.5 $ 72.5 $ 2.2 $ 2.2 Owner/operator 2.2 2.2 .3 .3 $ 74.7 $ 74.7 $ 2.5 $ 2.5 The effect on the allowance for credit losses from such modifications was not significant at December 31, 2020 and 2019. TDRs modified during the previous twelve months that subsequently defaulted (i.e., became more than 30 days past due) in the years ended December 31, 2020 and 2019 were $4.1 and nil There were $2.0 and nil 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 December 31, 2020 and 2019 was $19.3 and $25.6, respectively. Proceeds from the sales of repossessed assets were $85.6, $62.4 and $75.8 for the years ended December 31, 2020, 2019 and 2018, respectively. These amounts are included in Proceeds from asset disposals in the 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 Income.

Equipment On Operating Leases

Equipment On Operating Leases	12 Months Ended
	Dec. 31, 2020
Lessor Disclosure [Abstract]
Equipment On Operating Leases	F. EQUIPMENT ON OPERATING LEASES A summary of equipment on operating leases for Truck, Parts and Other and for the Financial Services segment is presented below. TRUCK, PARTS AND OTHER FINANCIAL SERVICES At December 31, 2020 2019 2020 2019 Equipment on operating leases $ 576.8 $ 706.3 $ 4,493.9 $ 4,350.0 Less allowance for depreciation (154.9 ) (160.8 ) (1,331.1 ) (1,247.4 ) $ 421.9 $ 545.5 $ 3,162.8 $ 3,102.6 Annual minimum lease payments due on Financial Services operating leases beginning January 1, 2021 are $668.2, $451.8, $252.8, $104.3, $35.0 and $5.1 thereafter. When the equipment is sold subject to an RVG, the full sales price is received from the customer. A liability is established for the residual value obligation with the remainder of the proceeds recorded as deferred lease revenue. These amounts are summarized below: TRUCK, PARTS AND OTHER At December 31, 2020 2019 Residual value guarantees $ 358.4 $ 439.6 Deferred lease revenues 99.0 147.7 $ 457.4 $ 587.3 The deferred lease revenue is amortized on a straight-line basis over the RVG contract period. At December 31, 2020, the annual amortization of deferred revenues beginning January 1, 2021 is $53.6, $24.6, $12.1, $8.5, $.2 and nil thereafter. Annual maturities of the RVGs beginning January 1, 2021 are $179.8, $82.4, $54.2, $15.9, $15.2 and $10.9 thereafter.

Property, Plant And Equipment

Property, Plant And Equipment	12 Months Ended
	Dec. 31, 2020
Property Plant And Equipment [Abstract]
Property, Plant And Equipment	G. PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment include the following: At December 31, USEFUL LIVES 2020 2019 Land $ 286.4 $ 271.8 Buildings and improvements 10 - 40 years 1,474.7 1,382.2 Machinery, equipment and production tooling 3 - 12 years 4,234.4 3,998.2 Construction in progress 1,081.8 741.7 7,077.3 6,393.9 Less allowance for depreciation (3,806.9 ) (3,510.1 ) $ 3,270.4 $ 2,883.8

Accounts Payable, Accrued Expen

Accounts Payable, Accrued Expenses and Other	12 Months Ended
	Dec. 31, 2020
Payables And Accruals [Abstract]
Accounts Payable, Accrued Expenses and Other	H. ACCOUNTS PAYABLE, ACCRUED EXPENSES AND OTHER Accounts payable, accrued expenses and other include the following: At December 31, 2020 2019 Truck, Parts and Other: Accounts payable $ 1,176.2 $ 1,115.7 Product support liabilities 514.6 508.1 Accrued expenses 446.5 467.4 Right-of-return liabilities 337.3 226.0 Accrued capital expenditures 288.8 270.3 Salaries and wages 260.8 271.8 Other 389.7 334.9 $ 3,413.9 $ 3,194.2

Product Support Liabilities

Product Support Liabilities	12 Months Ended
	Dec. 31, 2020
Product Warranties Disclosures [Abstract]
Product Support Liabilities	I. PRODUCT SUPPORT LIABILITIES Changes in product support liabilities are summarized as follows: WARRANTY RESERVES 2020 2019 2018 Balance at January 1 $ 440.0 $ 380.2 $ 298.8 Cost accruals 295.0 386.3 331.9 Payments (437.2 ) (343.7 ) (271.8 ) Change in estimates for pre-existing warranties 84.1 19.8 25.6 Currency translation and other 7.8 (2.6 ) (4.3 ) Balance at December 31 $ 389.7 $ 440.0 $ 380.2 DEFERRED REVENUES ON EXTENDED WARRANTIES AND R&M CONTRACTS 2020 2019 2018 Balance at January 1 $ 801.4 $ 699.9 $ 653.9 Deferred revenues 409.9 499.1 448.2 Revenues recognized (438.9 ) (396.4 ) (385.0 ) Currency translation 23.4 (1.2 ) (17.2 ) Balance at December 31 $ 795.8 $ 801.4 $ 699.9 The Company expects to recognize approximately $272.3 of the remaining deferred revenues on extended warranties and R&M contracts in 2021, $251.8 in 2022, $162.3 in 2023, $74.6 in 2024, $25.4 in 2025 and $9.4 thereafter. Product support liabilities are included in the accompanying Consolidated Balance Sheets as follows: WARRANTY RESERVES DEFERRED REVENUES At December 31, 2020 2019 2020 2019 Truck, Parts and Other: Accounts payable, accrued expenses and other $ 245.6 $ 270.6 $ 269.0 $ 237.5 Other liabilities 144.1 169.4 513.1 547.6 Financial Services: Accounts payable, accrued expenses and other 5.7 6.8 Deferred taxes and other liabilities 8.0 9.5 $ 389.7 $ 440.0 $ 795.8 $ 801.4

Borrowings And Credit Arrangeme

Borrowings And Credit Arrangements	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
Borrowings And Credit Arrangements	J. BORROWINGS AND CREDIT ARRANGEMENTS Financial Services borrowings include the following: At December 31, 2020 2019 EFFECTIVE EFFECTIVE RATE BORROWINGS RATE BORROWINGS Commercial paper .4 % $ 3,113.5 1.5 % $ 3,797.2 Bank loans 5.9 % 230.9 7.1 % 313.0 3,344.4 4,110.2 Term notes 1.7 % 7,508.9 1.9 % 7,112.5 1.4 % $ 10,853.3 1.9 % $ 11,222.7 Commercial paper and term notes borrowings were $10,622.4 and $10,909.7 at December 31, 2020 and 2019, respectively. Unamortized debt issuance costs, unamortized discounts and the net effect of fair value hedges were $(12.7) and $(20.5) at December 31, 2020 and 2019, respectively. The effective rate is the weighted average rate as of December 31, 2020 and 2019 and includes the effects of interest-rate contracts. The annual maturities of the Financial Services borrowings are as follows: COMMERCIAL BANK TERM Beginning January 1, PAPER LOANS NOTES TOTAL 2021 $ 3,114.2 $ 40.1 $ 2,241.7 $ 5,396.0 2022 121.6 2,231.9 2,353.5 2023 19.0 2,231.9 2,250.9 2024 25.1 415.4 440.5 2025 25.1 400.0 425.1 $ 3,114.2 $ 230.9 $ 7,520.9 $ 10,866.0 Interest paid on borrowings was $164.5, $203.8 and $166.5 in 2020, 2019 and 2018, respectively. The primary sources of borrowings in the capital markets are commercial paper and medium-term notes issued in the public markets, and to a lesser extent, bank loans. The medium-term notes are issued by PACCAR Financial Corp. (PFC), PACCAR Financial Europe, PACCAR Financial Mexico and PACCAR Financial Pty. Ltd. (PFPL). In November 2018, the Company’s U.S. finance subsidiary, PFC, filed a shelf registration under the Securities Act of 1933. The total amount of medium-term notes outstanding for PFC as of December 31 , 2020 was $ As of December 31, 2020, the Company’s European finance subsidiary, PACCAR Financial Europe, had €1,600.0 available under a €2,500.0 medium In April 2016, PACCAR Financial Mexico registered a 10,000.0 pesos medium-term note and commercial paper program with the Comision Nacional Bancaria y de Valores. The registration expires in April 2021 and limits the amount of commercial paper (up to one year) to 5,000.0 pesos. At December 31, 2020, 6,842.7 pesos remained In August 2018, the Company’s Australian subsidiary, PACCAR Financial Pty. Ltd. (PFPL), registered a medium-term note program. The program does not limit the principal amount of debt securities that may be issued under the program. The total amount of medium-term notes outstanding for PFPL as of December 31, 2020 was 450.0 Australian dollars. The Company has line of credit arrangements of $3,523.1, of which $3,292.2 were unused at December 31, 2020. Included in these arrangements are $3,000.0 of committed bank facilities, of which $1,000.0 expires in June 2021, $1,000.0 expires in June 2023 and $1,000.0 expires in June 2024. The Company intends to replace these credit facilities on or before expiration with facilities of similar amounts and duration. These credit facilities are maintained primarily to provide backup liquidity for commercial paper borrowings and maturing medium-term notes. There were no borrowings under the committed bank facilities for the year ended December 31, 2020.

Leases

Leases	12 Months Ended
	Dec. 31, 2020
Leases [Abstract]
Leases	K. LEASES The Company leases certain facilities and equipment. The Company determines whether an arrangement is or contains a lease at inception. The Company accounts for lease and non-lease components separately. The consideration in the contract is allocated to each separate lease and non-lease component of the contract generally based on the relative stand-alone price of the components. The lease component is accounted for in accordance with the lease standard and the non-lease component is accounted for in accordance with other standards. The Company uses its incremental borrowing rate in determining the present value of lease payments unless the rate implicit in the lease is available. The lease term may include options to extend or terminate the lease if it is reasonably certain that the Company will exercise that option. Leases that have a term of 12 months or less at the commencement date (“short-term leases”) are not included in the right-of-use assets and the lease liabilities. Lease expense for the short-term leases are recognized on a straight-line basis over the lease term. The components of lease expense were as follows: Year Ended December 31, 2020 2019 Finance lease cost Amortization of right-of-use assets $ .9 $ .9 Interest on lease liabilities .1 .1 Operating lease cost 16.6 16.9 Short-term lease cost .8 .7 Variable lease cost 1.7 1.8 Total lease cost $ 20.1 $ 20.4 For the years ended December 31, 2020, 2019 and 2018, total rental expenses for all leases amounted to $20.1, $20.4 and $35.7, respectively. Balance sheet information related to leases was as follows: At December 31, 2020 2019 OPERATING LEASES FINANCE LEASES OPERATING LEASES FINANCE LEASES TRUCK, PARTS AND OTHER: Other noncurrent assets $ 30.9 $ 1.0 $ 31.7 $ 1.1 FINANCIAL SERVICES: Other assets 9.0 5.2 Total right-of-use assets $ 39.9 $ 1.0 $ 36.9 $ 1.1 TRUCK, PARTS AND OTHER: Accounts payable, accrued expenses and other $ 11.4 $ .5 $ 13.0 $ .7 Other liabilities 20.3 .5 19.5 .5 FINANCIAL SERVICES: Accounts payable, accrued expenses and other 2.0 1.5 Deferred taxes and other liabilities 6.6 3.7 Total lease liabilities $ 40.3 $ 1.0 $ 37.7 $ 1.2 The weighted-average remaining lease term and discount rate are as follows at December 31: 2020 2019 OPERATING LEASES FINANCE LEASES OPERATING LEASES FINANCE LEASES Weighted-average remaining lease term 5.7 years 2.3 years 5.1 years 2.2 years Weighted-average discount rate 1.4 % 2.5 % 1.9 % 4.0 % Maturities of lease liabilities are as follows: Beginning January 1, OPERATING LEASES FINANCE LEASES 2021 $ 13.7 $ .6 2022 10.6 .2 2023 5.8 .2 2024 3.2 .1 2025 2.4 Thereafter 6.0 Total lease payments 41.7 1.1 Less: interest (1.4 ) (.1 ) Total lease liabilities $ 40.3 $ 1.0 Cash flow information related to leases was as follows: Year Ended December 31, 2020 2019 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 17.2 $ 17.0 Operating cash flows from finance leases .1 .2 Financing cash flows from finance leases .9 1.0 Right-of-use assets obtained in exchange for lease liabilities Operating leases 19.9 8.9 Finance leases .5 .7

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2020
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	L. COMMITMENTS AND CONTINGENCIES At December 31, 2020, PACCAR had standby letters of credit and surety bonds totaling $45.5, from third-party financial institutions, in the normal course of business, which guarantee various insurance, financing and other activities. At December 31, 2020, PACCAR’s financial services companies, in the normal course of business, had outstanding commitments to fund new loan and lease transactions amounting to $823.4. The commitments generally expire in 90 days. The Company had other commitments, primarily to purchase production inventory, equipment and energy amounting to $127.5, $76.1, $3.4, $.3, $.2 and nil for 2021, 2022, 2023, 2024, 2025 and beyond, respectively. The Company is involved in various stages of investigations and cleanup actions in different countries related to environmental matters. In certain of these matters, the Company has been designated as a “potentially responsible party” by domestic and foreign environmental agencies. The Company has accrued the estimated costs to investigate and complete cleanup actions where it is probable that the Company will incur such costs in the future. Expenditures related to environmental activities for the years ended December 31, 2020, 2019 and 2018 were $1.9, $1.3 and $1.2, respectively. While the timing and amount of the ultimate costs associated with future environmental cleanup cannot be determined, management expects that these matters will not have a significant effect on the Company’s consolidated financial position. On July 19, 2016, the European Commission (EC) concluded its investigation of all major European truck manufacturers and reached a settlement with DAF. Following the settlement, claims and lawsuits have been filed against the Company, DAF and certain DAF subsidiaries and other truck manufacturers in various European jurisdictions. These claims and lawsuits include a number of collective proceedings, including proposed class actions in the United Kingdom, alleging EC-related claims and seeking unspecified damages. Others may bring EC-related claims and lawsuits against the Company or its subsidiaries. While the Company believes it has meritorious defenses, such claims and lawsuits will likely take a significant period of time to resolve. The Company cannot reasonably estimate a range of loss, if any, that may result given the early stage of these claims and lawsuits. An adverse outcome of such proceedings could have a material impact on the Company’s results of operations. PACCAR is also a defendant in various other 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 other proceedings and contingent liabilities will have a material effect on the consolidated financial statements.

Employee Benefits

Employee Benefits	12 Months Ended
	Dec. 31, 2020
Compensation And Retirement Disclosure [Abstract]
Employee Benefits	M. EMPLOYEE BENEFITS Severance Costs: The Company incurred severance expense in 2020, 2019 and 2018 of $6.1, $5.8 and $.7, respectively. Defined Benefit Pension Plans: The Company has several defined benefit pension plans, which cover a majority of its employees. The Company evaluates its actuarial assumptions on an annual basis and considers changes based upon market conditions and other factors. The expected return on plan assets is determined by using a market-related value of assets, which is calculated based on an average of the previous five years of asset gains and losses. Generally, accumulated unrecognized actuarial gains and losses are amortized using the 10% corridor approach. The corridor is defined as the greater of either 10% of the projected benefit obligation or the market-related value of plan assets. The amortization amount is the excess beyond the corridor divided by the average remaining estimated service life of participants on a straight-line basis. The Company funds its pensions in accordance with applicable employee benefit and tax laws. The Company contributed $184.9 to its pension plans in 2020 and $35.7 in 2019. The Company expects to contribute in the range of $100 to $150 to its pension plans in 2021, of which $19.7 is estimated to satisfy minimum funding requirements. Annual benefits expected to be paid beginning January 1, 2021 are $125.7, $109.8, $114.8, $121.2, $127.0 and a total of $726.4 for the five years thereafter. Plan assets are invested in global equity and debt securities through professional investment managers with the objective to achieve targeted risk adjusted returns and maintain liquidity sufficient to fund current benefit payments. Typically, each defined benefit plan has an investment policy that includes a target for asset mix, including maximum and minimum ranges for allocation percentages by investment category. The actual allocation of assets may vary at times based upon rebalancing policies and other factors. The Company periodically assesses the target asset mix by evaluating external sources of information regarding the long-term historical return, volatilities and expected future returns for each investment category. In addition, the long-term rates of return assumptions for pension accounting are reviewed annually to ensure they are appropriate. Target asset mix and forecast long-term returns by asset category are considered in determining the assumed long-term rates of return, although historical returns realized are given some consideration. The fair value of mutual funds, common stocks and U.S. treasuries is determined using the market approach and is based on the quoted prices in active markets. These securities are categorized as Level 1. The fair value of debt securities is determined using the market approach and is based on the quoted market prices of the securities or other observable inputs. These securities are categorized as Level 2. The fair value of commingled and pooled trust funds is determined using the market approach and is based on the unadjusted net asset value (NAV) per unit as determined by the sponsor of the fund based on the fair values of underlying investments. These assets are collective investment trusts and pooled funds, and substantially all of these investments have no redemption restrictions or unfunded commitments. Securities measured at NAV per unit as a practical expedient are not classified in the fair value hierarchy. The following information details the allocation of plan assets by investment type. See Note Q for definitions of fair value levels. FAIR VALUE HIERARCHY At December 31, 2020 TARGET LEVEL 1 LEVEL 2 TOTAL MEASURED AT NAV TOTAL Equities: U.S. equities $ 1,047.0 $ 1,047.0 Global equities 1,140.6 1,140.6 Total equities 50 - 70% 2,187.6 2,187.6 Fixed income: U.S. fixed income $ 83.9 $ 296.0 $ 379.9 $ 719.9 $ 1,099.8 Non-U.S. fixed income 30.4 30.4 372.8 403.2 Total fixed income 30 - 50% 83.9 326.4 410.3 1,092.7 1,503.0 Cash and other 2.6 99.8 102.4 .4 102.8 Total plan assets $ 86.5 $ 426.2 $ 512.7 $ 3,280.7 $ 3,793.4 FAIR VALUE HIERARCHY At December 31, 2019 TARGET LEVEL 1 LEVEL 2 TOTAL MEASURED AT NAV TOTAL Equities: U.S. equities $ 860.1 $ 860.1 Global equities 973.1 973.1 Total equities 50 - 70% 1,833.2 1,833.2 Fixed income: U.S. fixed income $ 90.6 $ 260.3 $ 350.9 $ 611.7 $ 962.6 Non-U.S. fixed income 28.1 28.1 322.0 350.1 Total fixed income 30 - 50% 90.6 288.4 379.0 933.7 1,312.7 Cash and other 10.6 68.2 78.8 1.7 80.5 Total plan assets $ 101.2 $ 356.6 $ 457.8 $ 2,768.6 $ 3,226.4 In 2019, U.S. fixed income Level 1 included $123.4 of investments valued at NAV. The table above reflects these investments as Measured at NAV. The following weighted average assumptions relate to all pension plans of the Company: At December 31, 2020 2019 Discount rate 2.2 % 2.9 % Rate of increase in future compensation levels 3.7 % 3.8 % Assumed long-term rate of return on plan assets 6.2 % 6.3 % The components of the change in projected benefit obligation and change in plan assets are as follows: At December 31, 2020 2019 Change in projected benefit obligation: Benefit obligation at January 1 $ 3,234.4 $ 2,655.4 Service cost 130.4 102.0 Interest cost 83.0 95.6 Benefits paid (120.2 ) (127.0 ) Actuarial loss 379.5 478.0 Currency translation and other 54.4 30.0 Participant contributions .4 .4 Projected benefit obligation at December 31 $ 3,761.9 $ 3,234.4 Change in plan assets: Fair value of plan assets at January 1 $ 3,226.4 $ 2,699.2 Employer contributions 184.9 35.7 Actual return on plan assets 453.4 588.1 Benefits paid (120.2 ) (127.0 ) Currency translation and other 48.5 30.0 Participant contributions .4 .4 Fair value of plan assets at December 31 $ 3,793.4 $ 3,226.4 Funded status at December 31 $ 31.5 $ (8.0 ) At December 31, 2020 2019 Amounts recorded on Balance Sheet: Other noncurrent assets $ 222.1 $ 146.5 Accounts payable, accrued expenses and other 25.5 39.9 Other liabilities 165.1 114.6 Accumulated other comprehensive loss: Actuarial loss 571.7 512.5 Prior service cost 6.3 5.1 Net initial transition amount .1 Of the December 31, 2020 amounts in accumulated other comprehensive loss, $56.7 of unrecognized actuarial loss and $.8 of unrecognized prior service cost are expected to be amortized into net pension expense in 2021. The accumulated benefit obligation for all pension plans of the Company was $3,321.5 and $2,806.3 at December 31, 2020 and 2019, respectively. Information for all plans with an accumulated benefit obligation in excess of plan assets is as follows: At December 31, 2020 2019 Projected benefit obligation $ 167.9 $ 170.6 Accumulated benefit obligation 148.7 150.1 Fair value of plan assets 13.5 23.4 The components of pension expense are as follows: Year Ended December 31, 2020 2019 2018 Service cost $ 130.4 $ 102.0 $ 108.3 Interest on projected benefit obligation 83.0 95.6 85.8 Expected return on assets (190.6 ) (176.6 ) (177.2 ) Amortization of prior service costs 1.5 1.4 1.4 Recognized actuarial loss 44.2 20.5 35.3 Settlement loss 11.6 Net pension expense $ 80.1 $ 42.9 $ 53.6 The components of net pension expense other than service cost are included in Interest and other (income), net on the Consolidated Statements of Income. Multi-employer Plans: The Company participates in multi-employer plans in the U.S. and Europe. These are typically under collective bargaining agreements and cover its union-represented employees. The Company’s participation in the following multi-employer plans for the years ended December 31 are as follows: PENSION COMPANY CONTRIBUTIONS PENSION PLAN EIN NUMBER 2020 2019 2018 Metal and Electrical Engineering Industry Pension 135668 $ 33.9 $ 27.8 $ 27.9 Western Metal Industry Pension Plan 91-6033499 001 3.0 3.8 2.7 Other plans .9 1.2 1.2 $ 37.8 $ 32.8 $ 31.8 The Company contributions shown in the table above approximate the multi-employer pension expense for each of the years ended December 31, 2020, 2019 and 2018, respectively. Metal and Electrical Engineering Industry Pension Fund is a multi-employer union plan incorporating all DAF employees in the Netherlands and is covered by a collective bargaining agreement that expired on November 30, 2020 and is under negotiation. The Company’s contributions were less than 5% of the total contributions to the plan for the last two reporting periods ending December 2020. The plan is required by law (the Netherlands Pension Act) to have a coverage ratio in excess of 104.3%. Because the coverage ratio of the plan was 97.2% at December 31, 2020, a funding improvement plan effective through 2029 is in place. The funding improvement plan includes a possible reduction in pension benefits and delays in future benefit increases. The Western Metal Industry Pension Plan is located in the U.S. and is covered by a collective bargaining agreement that will expire on November 2, 2025. In accordance with the U.S. Pension Protection Act of 2006, the plan continued to be certified as critical (red) status as of December 31, 2020, and a funding improvement plan has been implemented requiring additional contributions through 2022 as long as the plan remains in critical status. Contributions by the Company were 15% and 20% of the total contributions to the plan for the years ended December 31, 2020 and 2019, respectively. Other plans are principally located in the U.S. and the Company’s contributions to these plans for the years ended December 31, 2020 and 2019 were less than 5% of each plan’s total contributions. As of December 31, 2020, one of the other plans was under a funding improvement plan. There were no significant changes for the multi-employer plans in the periods presented that affected comparability between periods. Defined Contribution Plans: The Company maintains several defined contribution benefit plans whereby it contributes designated amounts on behalf of participant employees. The largest plan is for U.S. salaried employees where the Company matches a percentage of employee contributions up to an annual limit. The match was 5% of eligible pay in 2020, 2019 and 2018. Other plans are located in Australia, Brasil, Canada, the Netherlands, Belgium and Germany. Expenses for these plans were $42.5, $48.3 and $45.3 in 2020, 2019 and 2018, respectively.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Income Taxes	N. INCOME TAXES The Company’s tax rate is based on income and statutory tax rates in the various jurisdictions in which the Company operates. Tax law requires certain items to be included in the Company’s tax returns at different times than the items reflected in the Company’s financial statements. As a result, the Company’s annual tax rate reflected in its financial statements is different than that reported in its tax returns. Some of these differences are permanent, such as expenses that are not deductible in the Company’s tax return, and some differences reverse over time, such as depreciation expense. These temporary differences create deferred tax assets and liabilities. The Company establishes valuation allowances for its deferred tax assets if, based on the available evidence, it is more likely than not that some portion or all of the deferred tax assets will not be realized. The components of the Company’s income before income taxes include the following: Year Ended December 31, 2020 2019 2018 Domestic $ 1,122.9 $ 2,201.1 $ 1,775.2 Foreign 535.0 898.1 1,035.0 $ 1,657.9 $ 3,099.2 $ 2,810.2 The components of the Company’s provision for income taxes include the following: Year Ended December 31, 2020 2019 2018 Current provision: Federal $ 182.5 $ 352.3 $ 267.1 State 44.9 96.8 67.5 Foreign 132.6 191.4 263.0 360.0 640.5 597.6 Deferred (benefit) provision: Federal (11.2 ) 40.7 22.6 State 1.7 (4.3 ) 1.3 Foreign 9.0 34.4 (6.4 ) (.5 ) 70.8 17.5 $ 359.5 $ 711.3 $ 615.1 Tax benefits recognized for net operating loss carryforwards were $17.8, $12.4 and $5.0 for the years ended 2020, 2019 and 2018, respectively. A reconciliation of the statutory U.S. federal tax rate to the effective income tax rate is as follows: 2020 2019 2018 Statutory rate 21.0 % 21.0 % 21.0 % Effect of: Transition tax (.2 ) State 2.3 2.3 2.2 Research and development tax credit (1.4 ) (.9 ) (.8 ) Tax on foreign earnings .8 .9 1.0 Other, net (1.0 ) (.3 ) (1.3 ) 21.7 % 23.0 % 21.9 % Based on the Company’s current operations, the Company does not expect that the repatriation of future foreign earnings will be subject to significant income tax as a result of the U.S. modified territorial system. At December 31, 2020, the Company had net operating loss carryforwards of $492.2, of which $416.2 related to foreign subsidiaries and $76.0 related to states in the U.S. The related deferred tax asset was $129.2, for which a $95.6 valuation allowance has been provided. The carryforward periods range from four years to indefinite, subject to certain limitations under applicable laws. The future tax benefits of net operating loss carryforwards are evaluated on a regular basis, including a review of historical and projected operating results. The tax effects of temporary differences representing deferred tax assets and liabilities are as follows: At December 31, 2020 2019 Assets: Accrued expenses $ 205.3 $ 203.5 Net operating loss and tax credit carryforwards 140.1 132.0 Postretirement benefit plans 4.9 Allowance for losses on receivables 36.0 31.4 Goodwill and intangibles 10.0 18.7 Other 122.9 103.3 514.3 493.8 Valuation allowance (102.1 ) (118.5 ) 412.2 375.3 Liabilities: Financial Services leasing depreciation (765.1 ) (777.5 ) Depreciation and amortization (168.0 ) (159.4 ) Postretirement benefit plans (3.0 ) Other (46.1 ) (28.9 ) (982.2 ) (965.8 ) Net deferred tax liability $ (570.0 ) $ (590.5 ) The balance sheet classifications of the Company’s deferred tax assets and liabilities are as follows: At December 31, 2020 2019 Truck, Parts and Other: Other noncurrent assets, net $ 90.4 $ 115.4 Other liabilities (3.5 ) (5.3 ) Financial Services: Other assets 46.8 36.8 Deferred taxes and other liabilities (703.7 ) (737.4 ) Net deferred tax liability $ (570.0 ) $ (590.5 ) Cash paid for income taxes was $374.0, $586.0 and $607.6 in 2020, 2019 and 2018, respectively. A reconciliation of the beginning and ending amounts of unrecognized tax benefits is as follows: 2020 2019 2018 Balance at January 1 $ 30.7 $ 21.2 $ 22.9 Additions for tax positions related to the current year 5.5 6.5 11.2 Additions for tax positions related to prior years .3 3.0 Reductions for tax positions related to prior years (4.2 ) Reductions related to settlements (5.7 ) Lapse of statute of limitations (7.8 ) (7.2 ) Balance at December 31 $ 24.5 $ 30.7 $ 21.2 The Company had $24.5, $30.7 and $21.2 of unrecognized tax benefits, of which $23.2, $28.4 and $18.9 would impact the effective tax rate, if recognized, as of December 31, 2020, 2019 and 2018, respectively. The Company recognized $(.7), $.8 and $(.1) of (income) expense related to interest in 2020, 2019 and 2018, respectively. Accrued interest expense and penalties were $1.2, $1.9 and $1.1 as of December 31, 2020, 2019 and 2018, respectively. Interest and penalties are classified as income taxes in the Consolidated Statements of Income. The Company believes it is reasonably possible that approximately $5.5 of unrecognized tax benefits, resulting primarily from research and development tax credits, will be resolved within the next 12 months .

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2020
Equity [Abstract]
Stockholders' Equity	O. STOCKHOLDERS’ EQUITY Accumulated Other Comprehensive Income (Loss): The components of AOCI and the changes in AOCI, net of tax, included in the Consolidated Balance Sheets and the Consolidated Statements of Stockholders’ Equity, consisted of the following: DERIVATIVE CONTRACTS MARKETABLE DEBT SECURITIES PENSION PLANS FOREIGN CURRENCY TRANSLATION TOTAL Balance at January 1, 2020 $ (15.3 ) $ 6.1 $ (517.7 ) $ (573.2 ) $ (1,100.1 ) Recorded into AOCI (78.4 ) 10.3 (104.0 ) 115.6 (56.5 ) Reclassified out of AOCI 64.5 (1.8 ) 43.6 106.3 Net other comprehensive (loss) income (13.9 ) 8.5 (60.4 ) 115.6 49.8 Balance at December 31, 2020 $ (29.2 ) $ 14.6 $ (578.1 ) $ (457.6 ) $ (1,050.3 ) DERIVATIVE CONTRACTS MARKETABLE DEBT SECURITIES PENSION PLANS FOREIGN CURRENCY TRANSLATION TOTAL Balance at January 1, 2019 $ 2.0 $ (2.3 ) $ (477.8 ) $ (620.4 ) $ (1,098.5 ) Recorded into AOCI (57.0 ) 8.7 (56.8 ) 47.2 (57.9 ) Reclassified out of AOCI 39.7 (.3 ) 16.9 56.3 Net other comprehensive (loss) income (17.3 ) 8.4 (39.9 ) 47.2 (1.6 ) Balance at December 31, 2019 $ (15.3 ) $ 6.1 $ (517.7 ) $ (573.2 ) $ (1,100.1 ) DERIVATIVE CONTRACTS MARKETABLE DEBT SECURITIES PENSION PLANS FOREIGN CURRENCY TRANSLATION TOTAL Balance at January 1, 2018 $ 1.2 $ (1.8 ) $ (375.6 ) $ (417.4 ) $ (793.6 ) Recorded into AOCI 90.9 .1 (86.8 ) (213.3 ) (209.1 ) Reclassified out of AOCI (90.5 ) (.1 ) 28.0 (62.6 ) Net other comprehensive income (loss) .4 (58.8 ) (213.3 ) (271.7 ) Reclassifications to retained earnings in accordance with ASU 2018-02 .4 (.5 ) (43.4 ) 10.3 (33.2 ) Balance at December 31, 2018 $ 2.0 $ (2.3 ) $ (477.8 ) $ (620.4 ) $ (1,098.5 ) Reclassifications out of AOCI during the years ended December 31, 2020, 2019 and 2018 were as follows: AMOUNT AOCI COMPONENTS LINE ITEM IN THE CONSOLIDATED STATEMENTS OF INCOME 2020 2019 2018 Unrealized (gains) and losses on derivative contracts: Truck, Parts and Other Foreign-exchange contracts Net sales and revenues $ (4.0 ) $ 21.2 $ 5.4 Cost of sales and revenues 1.7 (4.1 ) (6.6 ) Interest and other (income), net (4.6 ) 2.1 (1.6 ) Financial Services Interest-rate contracts Interest and other borrowing expenses 94.5 32.5 (118.7 ) Pre-tax expense increase (reduction) 87.6 51.7 (121.5 ) Tax (benefit) expense (23.1 ) (12.0 ) 31.0 After-tax expense increase (reduction) 64.5 39.7 (90.5 ) Unrealized Marketable debt securities Investment income (2.4 ) (.4 ) (.2 ) Tax expense .6 .1 .1 After-tax income increase (1.8 ) (.3 ) (.1 ) Unrealized losses on pension plans: Truck, Parts and Other Actuarial loss Interest and other (income), net 44.2 20.5 35.3 Prior service costs Interest and other (income), net 1.5 1.4 1.4 Settlement loss Interest and other (income), net 11.6 Pre-tax expense increase 57.3 21.9 36.7 Tax benefit (13.7 ) (5.0 ) (8.7 ) After-tax expense increase 43.6 16.9 28.0 Total reclassifications out of AOCI $ 106.3 $ 56.3 $ (62.6 ) Other Capital Stock Changes: The Company purchased and retired treasury shares of .7, 1.7 and 5.8 million in 2020, 2019 and 2018, respectively.

Derivative Financial Instrument

Derivative Financial Instruments	12 Months Ended
	Dec. 31, 2020
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	P. DERIVATIVE FINANCIAL INSTRUMENTS As part of its risk management strategy, the Company enters into derivative contracts to hedge against interest rate and foreign currency risk. 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 December 31, 2020, the notional amount of the Company’s interest-rate contracts was $3,280.5. Notional maturities for all interest-rate contracts are $1,241.1 for 2021, $950.0 for 2022, $761.8 for 2023, $169.6 for 2024, $58.9 for 2025 and $99.1 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. The Company enters into foreign-exchange contracts as net investment hedges to reduce the foreign currency exposure from its investments in foreign subsidiaries. At December 31, 2020, the notional amount of the outstanding foreign-exchange contracts was $1,128.8. 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: At December 31, 2020 2019 ASSETS LIABILITIES ASSETS LIABILITIES Derivatives designated under hedge accounting: Interest-rate contracts: Financial Services: Other assets $ 16.4 $ 45.8 Deferred taxes and other liabilities $ 116.1 $ 31.0 Foreign-exchange contracts: Truck, Parts and Other: Other current assets 2.7 10.1 Accounts payable, accrued expenses and other 35.9 9.2 Financial Services: Deferred taxes and other liabilities 1.2 $ 19.1 $ 153.2 $ 55.9 $ 40.2 Derivatives not designated as hedging instruments: Foreign-exchange contracts: Truck, Parts and Other: Other current assets $ 1.1 $ .4 Accounts payable, accrued expenses and other $ 3.3 $ 1.8 Financial Services: Other assets .3 Deferred taxes and other liabilities 3.4 2.3 $ 1.4 $ 6.7 $ .4 $ 4.1 Gross amounts recognized in Balance Sheet $ 20.5 $ 159.9 $ 56.3 $ 44.3 Less amounts not offset in financial instruments: Truck, Parts and Other: Foreign-exchange contracts (2.1 ) (2.1 ) (.4 ) (.4 ) Financial Services: Interest-rate contracts (12.0 ) (12.0 ) (8.6 ) (8.6 ) Pro forma net amount $ 6.4 $ 145.8 $ 47.3 $ 35.3 The following table presents the amount of (gain) loss from derivative financial instruments reclassified from AOCI into the Consolidated Statements of Income: Year Ended December 31, 2020 2019 2018 Truck, Parts and Other: Cash flow hedges $ (6.9 ) $ 19.2 $ (2.8 ) Net investment hedge (5.6 ) (4.6 ) Total $ (12.5 ) $ 14.6 $ (2.8 ) Financial Services: Fair value hedges 1.1 1.5 1.8 Cash flow hedges 94.5 32.5 (118.7 ) Total $ 95.6 $ 34.0 $ (116.9 ) 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 following table presents the amounts recorded on the Consolidated Balance Sheets related to cumulative basis adjustments for fair value hedges: At December 31, 2020 2019 Financial Services Term notes: Carrying amount of hedged liabilities $ 90.9 $ 90.5 Cumulative basis adjustment included in the carrying amount (.9 ) (.5 ) The above table excludes the cumulative basis adjustments on discontinued hedge relationships of $(.4) and $(1.5) as of December 31, 2020 and 2019, respectively. 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. 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 7.5 years. The following table presents the pre-tax effects of (loss) gain on cash flow hedges recognized in other comprehensive income (loss) (OCI): Year Ended December 31, 2020 2019 2018 INTEREST- FOREIGN- INTEREST- FOREIGN- INTEREST- FOREIGN- RATE EXCHANGE RATE EXCHANGE RATE EXCHANGE CONTRACTS CONTRACTS CONTRACTS CONTRACTS CONTRACTS CONTRACTS (Loss) gain recognized in OCI: Truck, Parts and Other $ 2.8 $ (31.7 ) $ 4.5 Financial Services $ (107.3 ) (.8 ) $ (44.4 ) $ 117.1 $ (107.3 ) $ 2.0 $ (44.4 ) $ (31.7 ) $ 117.1 $ 4.5 The amount of loss recorded in AOCI at December 31, 2020 that is estimated to be reclassified into earnings in the following 12 months if interest rates and exchange rates remain unchanged is approximately $15.0, 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 or losses reclassified out of AOCI into net income based on nil Net Investment Hedges Changes in the fair value of derivatives designated as net investment hedges are recorded in AOCI as an adjustment to the Cumulative Translation Adjustment (CTA). At December 31, 2020, the notional amount of the outstanding net investment hedges was $344.8. For the year ended December 31, 2020, the pre-tax loss recognized in OCI for the net investment hedges was $20.4. Derivatives Not Designated As Hedging Instruments 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 derivatives not designated as hedging instruments are recorded in earnings in the period in which the change occurs. The loss (gain) recognized in earnings related to derivatives not designated as hedging instruments was as follows: Year Ended December 31, 2020 2019 2018 INTEREST- FOREIGN- INTEREST- FOREIGN- INTEREST- FOREIGN- RATE EXCHANGE RATE EXCHANGE RATE EXCHANGE CONTRACTS CONTRACTS CONTRACTS CONTRACTS CONTRACTS CONTRACTS Truck, Parts and Other: Cost of sales and revenues $ .7 $ .5 $ (.3 ) Interest and other (income), net 2.3 5.4 6.9 Financial Services: Interest and other borrowing expenses 9.4 (10.1 ) (14.9 ) Selling, general and administrative .8 .1 1.7 $ 13.2 $ (4.1 ) $ (6.6 )

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurements	Q. 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 measurement date. Inputs to valuation techniques used to measure fair value are either observable or unobservable. These inputs have been categorized into the fair value hierarchy described below. 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 year ended December 31, 2020. 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 December 31, 2020 LEVEL 1 LEVEL 2 TOTAL Assets: Marketable debt securities U.S. tax-exempt securities $ 392.4 $ 392.4 U.S. corporate securities 232.9 232.9 U.S. government and agency securities $ 86.5 7.9 94.4 Non-U.S. corporate securities 411.5 411.5 Non-U.S. government securities 77.5 77.5 Other debt securities 220.3 220.3 Total marketable debt securities $ 86.5 $ 1,342.5 $ 1,429.0 Derivatives Cross currency swaps $ 14.8 $ 14.8 Interest-rate swaps 1.6 1.6 Foreign-exchange contracts 4.1 4.1 Total derivative assets $ 20.5 $ 20.5 Liabilities: Derivatives Cross currency swaps $ 77.6 $ 77.6 Interest-rate swaps 38.5 38.5 Foreign-exchange contracts 43.8 43.8 Total derivative liabilities $ 159.9 $ 159.9 At December 31, 2019 LEVEL 1 LEVEL 2 TOTAL Assets: Marketable debt securities U.S. tax-exempt securities $ 320.2 $ 320.2 U.S. corporate securities 165.7 165.7 U.S. government and agency securities $ 128.4 .9 129.3 Non-U.S. corporate securities 349.8 349.8 Non-U.S. government securities 72.4 72.4 Other debt securities 124.7 124.7 Total marketable debt securities $ 128.4 $ 1,033.7 $ 1,162.1 Derivatives Cross currency swaps $ 43.8 $ 43.8 Interest-rate swaps 2.0 2.0 Foreign-exchange contracts 10.5 10.5 Total derivative assets $ 56.3 $ 56.3 Liabilities: Derivatives Cross currency swaps $ 13.5 $ 13.5 Interest-rate swaps 17.5 17.5 Foreign-exchange contracts 13.3 13.3 Total derivative liabilities $ 44.3 $ 44.3 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 financing, 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 assumptions regarding the credit and market risks to approximate 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: At December 31, 2020 2019 CARRYING FAIR CARRYING FAIR AMOUNT VALUE AMOUNT VALUE Assets: Financial Services fixed rate loans $ 5,319.2 $ 5,429.5 $ 4,914.4 $ 4,992.2 Liabilities: Financial Services fixed rate debt 6,482.0 6,648.6 5,925.9 5,990.7

Stock Compensation Plans

Stock Compensation Plans	12 Months Ended
	Dec. 31, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock Compensation Plans	R. STOCK COMPENSATION PLANS PACCAR has certain plans under which officers and key employees may be granted options to purchase shares of the Company’s authorized but unissued common stock under plans approved by stockholders. Non‑employee directors and certain officers may be granted restricted shares of the Company’s common stock under plans approved by stockholders. Options outstanding under these plans were granted with exercise prices equal to the fair market value of the Company’s common stock at the date of grant. Options expire no later than ten years from the grant date and generally vest after three years. Restricted stock awards generally vest over three years or earlier upon meeting certain age and service requirements. The Company recognizes compensation cost on these options and restricted stock awards on a straight-line basis over the requisite period the employee is required to render service less estimated forfeitures based on historical experience. The maximum number of shares of the Company’s common stock authorized for issuance under these plans is 46.7 million shares, and as of December 31, 2020, the maximum number of shares available for future grants was 11.8 million. The assumptions used in determining the fair value of the option awards for each of the grant years are as follows: 2020 2019 2018 Risk-free interest rate 1.54 % 2.55 % 2.64 % Expected volatility 23 % 23 % 23 % Expected dividend yield 4.1 % 4.9 % 3.8 % Expected term 6 years 6 years 6 years Weighted average grant date fair value of options per share $ 10.02 $ 8.26 $ 10.67 The estimated fair value of each option award is determined on the date of grant using the Black-Scholes-Merton option pricing model that uses assumptions noted in the table above. The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of grant. Expected volatility is based on historical volatility. The dividend yield is based on an estimated future dividend yield using projected net income for the next five years, implied dividends and Company stock price. The expected term is based on the period of time that options granted are expected to be outstanding based on historical experience. The fair value of options granted was $6.4, $7.3 and $6.3 for the years ended December 31, 2020, 2019 and 2018, respectively. The fair value of options vested during the years ended December 31, 2020, 2019 and 2018 was $5.0, $5.8 A summary of activity under the Company’s stock plans is presented below: 2020 2019 2018 Intrinsic value of options exercised $ 26.9 $ 31.9 $ 13.4 Cash received from stock option exercises 53.8 60.9 19.7 Tax benefit related to stock award exercises 3.8 3.8 2.4 Stock-based compensation 13.0 15.1 13.2 Tax benefit related to stock-based compensation 1.6 1.9 1.9 The summary of options as of December 31, 2020 and changes during the year then ended are presented below: PER SHARE REMAINING AGGREGATE NUMBER EXERCISE CONTRACTUAL INTRINSIC OF SHARES PRICE* LIFE IN YEARS* VALUE Options outstanding at January 1 3,488,300 $ 60.18 Granted 641,700 76.18 Exercised (949,900 ) 56.68 Cancelled (63,600 ) 69.75 Options outstanding at December 31 3,116,500 $ 64.34 6.48 $ 68.4 Vested and expected to vest 3,014,300 $ 64.06 6.40 $ 67.0 Exercisable 1,323,200 $ 56.63 4.15 $ 39.2 * Weighted Average The fair value of restricted shares is determined based upon the stock price on the date of grant. The summary of nonvested restricted shares as of December 31, 2020 and changes during the year then ended is presented below: NUMBER GRANT DATE NONVESTED SHARES OF SHARES FAIR VALUE* Nonvested awards outstanding at January 1 150,500 $ 65.92 Granted 94,400 76.78 Vested (96,700 ) 69.46 Forfeited (5,800 ) 71.47 Nonvested awards outstanding at December 31 142,400 $ 70.49 * As of December 31, 2020, there was $5.4 of total unrecognized compensation cost related to nonvested stock options, which is recognized over a remaining weighted average vesting period of 1.46 years. Unrecognized compensation cost related to nonvested restricted stock awards of $2.0 is expected to be recognized over a remaining weighted average vesting period of 1.26 years. The dilutive and antidilutive options are shown separately in the table below: Year Ended December 31, 2020 2019 2018 Additional shares 607,800 621,300 785,100 Antidilutive options 686,100 1,489,400 1,176,600

Segment and Related Information

Segment and Related Information	12 Months Ended
	Dec. 31, 2020
Segment Reporting [Abstract]
Segment and Related Information	S. SEGMENT AND RELATED 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, and income taxes. The Financial Services segment’s performance is evaluated based on income before income taxes. Geographic revenues from external customers are presented based on the country of the customer. The accounting policies of the reportable segments are the same as those applied in the consolidated financial statements as described in Note A. 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 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. In Europe, the Financial Services and Truck segments centralized the marketing of used trucks, including those units sold by the Truck segment subject to an RVG. Beginning in the fourth quarter of 2019, when a customer returns the truck at the end of the RVG contract, the Company’s Truck segment records a reduction in an RVG liability and the Company’s Financial Services segment records a used truck asset and revenue from the subsequent sale. Certain gains and losses from the sale of these used trucks are shared with the Truck segment. Revenues from the sale of used trucks from the Truck segment in Europe in prior periods are immaterial. Other: Included in Other is the Company’s industrial winch manufacturing business as well as sales, income and expenses not attributable to a reportable segment. Other also includes non-service cost components of pension expense and a portion of corporate expenses. Intercompany interest income (expense) on cash advances to the financial services companies is included in Other and was $ 1.4 , $ .3 and $(.3) for 2020, 2019 and 2018, respectively. Geographic Area Data 2020 2019 2018 Net sales and revenues: United States $ 10,526.6 $ 15,119.3 $ 13,165.7 Europe 4,871.2 6,104.7 6,071.9 Other 3,330.7 4,375.7 4,258.1 $ 18,728.5 $ 25,599.7 $ 23,495.7 Property, plant and equipment, net: United States $ 1,633.0 $ 1,556.4 $ 1,353.8 Belgium 596.2 395.7 237.4 The Netherlands 499.0 399.8 397.8 Other 542.2 531.9 491.9 $ 3,270.4 $ 2,883.8 $ 2,480.9 Equipment on operating leases, net: United States $ 1,219.0 $ 1,390.1 $ 1,405.1 Poland 359.4 343.5 327.8 France 349.7 315.0 246.8 Germany 346.4 358.3 361.0 Spain 310.8 276.1 249.8 Mexico 302.3 320.5 306.4 United Kingdom 125.4 113.6 130.3 Other 571.7 531.0 614.4 $ 3,584.7 $ 3,648.1 $ 3,641.6 Business Segment Data 2020 2019 2018 Net sales and revenues: Truck $ 13,643.0 $ 20,403.5 $ 18,863.1 Less intersegment (478.2 ) (414.0 ) (676.1 ) External customers 13,164.8 19,989.5 18,187.0 Parts 3,962.7 4,073.1 3,896.2 Less intersegment (49.8 ) (48.2 ) (57.3 ) External customers 3,912.9 4,024.9 3,838.9 Other 76.6 105.3 112.7 17,154.3 24,119.7 22,138.6 Financial Services 1,574.2 1,480.0 1,357.1 $ 18,728.5 $ 25,599.7 $ 23,495.7 Income (loss) before income taxes: Truck $ 581.4 $ 1,904.9 $ 1,672.1 Parts 799.3 830.8 768.6 Other 18.2 (17.7 ) 2.7 1,398.9 2,718.0 2,443.4 Financial Services 223.1 298.9 305.9 Investment income 35.9 82.3 60.9 $ 1,657.9 $ 3,099.2 $ 2,810.2 Depreciation and amortization: Truck $ 292.2 $ 381.9 $ 406.2 Parts 10.8 10.2 9.2 Other 20.8 20.3 18.4 323.8 412.4 433.8 Financial Services 725.2 664.9 620.3 $ 1,049.0 $ 1,077.3 $ 1,054.1 Expenditures for long-lived assets: Truck $ 556.0 $ 664.9 $ 778.5 Parts 18.4 46.2 29.4 Other 36.4 51.0 38.8 610.8 762.1 846.7 Financial Services 1,046.7 1,378.6 1,085.1 $ 1,657.5 $ 2,140.7 $ 1,931.8 Segment assets: Truck $ 5,971.9 $ 5,609.0 $ 5,347.3 Parts 1,255.6 1,172.1 1,090.9 Other 398.7 339.2 345.0 Cash and marketable securities 4,834.0 5,169.4 4,299.6 12,460.2 12,289.7 11,082.8 Financial Services 15,799.8 16,071.4 14,399.6 $ 28,260.0 $ 28,361.1 $ 25,482.4

Quarterly Results (Unaudited)

Quarterly Results (Unaudited)	12 Months Ended
	Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract]
Quarterly Results (Unaudited)	quarterly results (unaudited) QUARTER FIRST SECOND THIRD FOURTH (millions, except per share data) 2020 Truck, Parts and Other: Net sales and revenues $ 4,778.0 $ 2,701.9 $ 4,538.4 $ 5,136.0 Cost of sales and revenues 4,189.6 2,441.5 3,958.3 4,487.0 Research and development 71.0 66.5 64.7 71.7 Financial Services: Revenues 383.7 360.3 397.6 432.6 Interest and other borrowing expenses 56.4 46.9 45.2 43.6 Depreciation and other expenses 229.4 224.1 262.5 292.0 Net Income 359.4 147.7 385.5 405.8 Net Income Per Share:* Basic $ 1.04 $ .43 $ 1.11 $ 1.17 Diluted 1.03 .43 1.11 1.17 2019 Truck, Parts and Other: Net sales and revenues $ 6,138.1 $ 6,266.5 $ 6,004.2 $ 5,710.9 Cost of sales and revenues 5,217.1 5,341.7 5,106.8 4,890.0 Research and development 78.3 82.5 82.2 83.6 Financial Services: Revenues 349.5 361.4 362.8 406.3 Interest and other borrowing expenses 53.4 60.0 59.6 57.5 Depreciation and other expenses 177.4 183.6 195.3 241.9 Net Income 629.0 619.7 607.9 531.3 Net Income Per Share: Basic $ 1.81 $ 1.79 $ 1.75 $ 1.53 Diluted 1.81 1.78 1.75 1.53 * The sum of quarterly per share amounts may not equal per share amounts reported for year-to-date periods. This is due to changes in the number of weighted shares outstanding and the effects of rounding for each period.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Description of Operations	Description of Operations: PACCAR Inc (the Company or PACCAR) is a multinational company operating in three principal segments: (1) the Truck segment includes the design and manufacture of high-quality, light-, medium- and heavy-duty commercial trucks; (2) the Parts segment includes the distribution of aftermarket parts for trucks and related commercial vehicles; and (3) the Financial Services segment (PFS) includes finance and leasing products and services provided to customers and dealers. PACCAR’s finance and leasing activities are principally related to PACCAR products and associated equipment. PACCAR’s sales and revenues are derived primarily from North America and Europe. The Company also operates in Australia and Brasil and sells trucks and parts to customers in Asia, Africa, the Middle East and South America.
Principles of Consolidation	Principles of Consolidation: The consolidated financial statements include the accounts of the Company and its wholly owned domestic and foreign subsidiaries. All significant intercompany accounts and transactions are eliminated in consolidation.
Use of Estimates	Use of Estimates: The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.
Revenue Recognition	Revenue Recognition: Truck, Parts and Other: The Company enters into sales contracts with customers associated with purchases of the Company’s products and services including trucks, parts, product support, and other related services. Generally, the Company recognizes revenue for the amount of consideration it will receive for delivering a product or service to a customer. Revenue is recognized when the customer obtains control of the product or receives benefits of the service. The Company excludes sales taxes, value added taxes and other related taxes assessed by government agencies from revenue. There are no significant financing components included in product or services revenue since generally customers pay shortly after the products or services are transferred. In the Truck and Parts segment, when the Company grants extended payment terms on selected receivables and charges interest, interest income is recognized when earned. The Company recognizes truck and parts sales as revenue when control of the products is transferred to customers which generally occurs upon shipment, except for certain truck sales which are subject to a residual value guarantee (RVG) by the Company. The standard payment term for trucks and aftermarket parts is typically within 30 days, but the Company may grant extended payment terms on selected receivables. The Company recognizes revenue for the invoice amount adjusted for estimated sales incentives and returns. Sales incentives and returns are estimated based on historical experience and are adjusted to current period revenue when the most likely amount of consideration the Company expects to receive changes or becomes fixed. Truck and part sales include a standard product warranty which is included in cost of sales. The Company has elected to treat delivery services as a fulfillment activity with revenues recognized when the customer obtains control of the product. Delivery revenue is included in revenues and the related costs are included in cost of sales. As a practical expedient, the Company is not disclosing truck order backlog, as a significant majority of the backlog has a duration of less than one year. Truck sales with RVGs that allow customers the option to return their truck are accounted for as a sale when the customer does not have an economic incentive to return the truck to the Company, or as an operating lease when the customer does have an economic incentive to return the truck. The estimate of customers’ economic incentive to return the trucks is based on an analysis of historical guaranteed buyback value and estimated market value. When truck sales with RVGs are accounted for as a sale, revenue is recognized when the truck is transferred to the customer less an amount for expected returns. Expected return rates are estimated by using a historical weighted average return rate over a seven-year Revenues from extended warranties, operating leases and other include optional extended warranty and repair and maintenance (R&M) service contracts which can be purchased for periods generally ranging up to five years. The Company defers revenue based on stand-alone observable selling prices when it receives payments in advance and generally recognizes the revenue on a straight-line basis over the warranty or R&M contract periods. See Note I, Product Support Liabilities, in the Notes to the Consolidated Financial Statements for further information. Also included are truck sales with an RVG accounted for as an operating lease. A liability is created for the residual value obligation with the remainder of the proceeds recorded as deferred revenue. The deferred revenue is recognized on a straight-line basis over the guarantee period, which typically ranges from three to five years. Total operating lease income from truck sales with RVGs for the years ended December 31, 2020, 2019 and 2018 was $104.2, $159.7 and $152.6, respectively. Aftermarket parts sales allow for returns which are estimated at the time of sale based on historical data. At December 31, 2020, the estimated value of the returned goods asset and the related return liability were $62.2 and $142.0, respectively, compared to $56.3 and $126.3 at December 31, 2019, respectively. Parts dealer services and other revenues are recognized as services are performed. Revenue from winch sales and other is primarily derived from the industrial winch business. Winch sales are recognized when the product is transferred to a customer, which generally occurs upon shipment. Also within this category are other revenues not attributable to a reportable segment. Financial Services: The Company’s Financial Services segment products include loans to customers collateralized by the vehicles being financed, finance leases to lease equipment to retail customers and dealers, dealer wholesale financing which includes floating-rate wholesale loans to PACCAR dealers for new and used trucks, and operating leases which include rentals on Company owned equipment. Interest income from finance and other receivables is recognized using the interest method. Certain loan origination costs are deferred and amortized to interest income over the expected life of the contracts using the straight-line method which approximates the interest method. Operating lease rental revenue is recognized on a straight-line basis over the term of the lease. Customer contracts may include additional services such as excess mileage, repair and maintenance and other services on which revenue is recognized when earned. The Company’s full-service lease arrangements bundle these additional services. Rents for full-service lease contracts are allocated between lease and non-lease components based on the relative stand-alone price of each component. Taxes, such as sales and use and value added, which are collected by the Company from a customer, are excluded from the measurement of lease income and expenses. Rental revenues for the years ended December 31, 2020, 2019 and 2018 were $802.3, $798.2 and $797.1, respectively. Depreciation and related leased unit operating expenses were $776.5, $721.6 and $686.9 for the years ended December 31, 2020, 2019 and 2018, respectively. 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 December 31, 2020 or December 31, 2019. 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. Finance leases are secured by the trucks and related equipment being leased and the lease terms generally range from three to five years depending on the type and use of the equipment. The lessee is required to either purchase the equipment or guarantee to the Company a stated residual value upon the disposition of the equipment at the end of the finance lease term. Operating lease terms generally range from three to five years. At the end of the operating lease term, the lessee has the option to return the equipment to the Company or purchase the equipment at its fair market value. The Company determines its estimate of the residual value of leased vehicles by considering the length of the lease term, the truck model, the expected usage of the truck and anticipated market demand. If the sales price of the truck at the end of the agreement differs from the Company’s estimated residual value, a gain or loss will result. Future market conditions, changes in government regulations and other factors outside the Company’s control could impact the ultimate sales price of trucks returned under these contracts. Residual values are reviewed regularly and adjusted if market conditions warrant.
Cash and Cash Equivalents	Cash and Cash Equivalents: Cash equivalents consist of liquid investments with a maturity at date of purchase of 90 days or less.
Marketable Debt Securities	Marketable Debt Securities: The Company's investments in marketable debt securities are classified as available-for-sale. These investments are stated at fair value and may include an allowance for credit losses. Changes in the allowance for credit losses are recognized in the current period earnings and any unrealized gains or losses, net of tax, are 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 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 the result of credit losses or unrealized losses. In assessing credit losses, 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. The Company considers its intent for selling the security and whether it is more likely than not the Company will be able to hold the security until the recovery of any credit losses and unrealized losses. Charges against the allowance for credit losses occur when a security with credit losses is sold or the Company no longer intends to hold that security.
Receivables	Receivables: Trade and Other Receivables: The Company’s trade and other receivables are recorded at cost, net of allowances. At December 31, 2020 and 2019, respectively, trade and other receivables included trade receivables from dealers and customers of $942.7 and $1,055.0 and other receivables of $254.8 and $251.1 relating primarily to value added tax receivables and supplier allowances and rebates. Finance and Other Receivables: Loans – Loans represent fixed or floating-rate loans to customers collateralized by the vehicles purchased and are recorded at amortized cost. Finance leases – Finance leases are sales-type finance leases, which lease equipment to retail customers and dealers. These leases are reported as the sum of minimum lease payments receivable and estimated residual value of the property subject to the contracts, reduced by unearned interest. Dealer wholesale financing – Dealer wholesale financing is floating-rate wholesale loans to PACCAR dealers for new and used trucks and are recorded at amortized cost. The loans are collateralized by the trucks being financed. Operating lease receivables and other – Operating lease receivables and other include monthly rentals due on operating leases, unamortized loan and lease origination costs, interest on loans and other amounts due within one year in the normal course of business.
Allowance for Credit Losses	Allowance for Credit Losses: Truck, Parts and Other: The Company historically has not experienced significant losses or past due amounts on trade and other receivables in its Truck, Parts and Other businesses. Accounts are considered past due once the unpaid balance is over 30 days Financial Services: 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 a loan or finance lease for credit reasons and grants a concession, the modification is classified as a troubled debt restructuring (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. In accordance with FASB statement, Prudential Regulator Guidance Concerning Troubled Debt Restructurings , issued on March 22, 2020, short-term modifications granted to customers were not considered TDRs if they were not past due and were seeking to manage their liquidity needs because of the effects of the COVID-19 pandemic. On average, modifications extended contractual terms by approximately three months in 2020 and five months in 2019 and did not have a significant effect on the weighted average term or interest rate of the total portfolio at December 31, 2020 and 2019. 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 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 three to five years, 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 amortized cost basis, 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 and share similar risk characteristics 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, current market conditions, and expected changes in future macroeconomic conditions that affect collectability. Historical credit loss data provides relevant information of expected credit losses. The historical information used includes assumptions regarding the likelihood of collecting current and past due accounts, repossession rates, and 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 based on current market conditions and other factors impacting the creditworthiness of the Company’s borrowers and their ability to repay. Adjustments to historical loss information are made for changes in forecasted economic conditions that are specific to the industry and markets in which the Company conducts business. The Company utilizes economic forecasts from third party sources and determines expected losses based on historical experience under similar market conditions. 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 expected 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 amortized cost basis.
Inventories	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. Cost of sales and revenues include shipping and handling costs incurred to deliver products to dealers and customers.
Equipment on Operating Leases	Equipment on Operating Leases: The Company’s Financial Services segment leases equipment under operating leases to its customers. In addition, in the Truck segment, equipment sold to customers in Europe subject to an RVG by the Company may be accounted for as an operating lease. Equipment is recorded at cost and is depreciated on the straight-line basis to the lower of the estimated residual value or guarantee value. Lease and guarantee periods generally range from three to five years. Estimated useful lives of the equipment range from three to ten years. The Company reviews residual values of equipment on operating leases periodically to determine that recorded amounts are appropriate.
Property, Plant and Equipment	Property, Plant and Equipment: Property, plant and equipment are stated at cost. Depreciation is computed by the straight-line method based on the estimated useful lives of various classes of assets. Certain production tooling and equipment are amortized on a unit of production basis.
Long-lived Assets and Goodwill	Long-lived Assets and Goodwill: The Company evaluates the carrying value of property, plant and equipment when events and circumstances warrant a review. Goodwill is tested for impairment at least on an annual basis. There were no significant impairment charges for the three years ended December 31, 2020. Goodwill was $118.8 and $109.1 at December 31, 2020 and 2019, respectively. The increase in value was due to currency translation.
Product Support Liabilities	Product Support Liabilities: Product support liabilities include estimated future payments related to product warranties and deferred revenues on optional extended warranties and 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 and current data and reasonable expectations for the future regarding the frequency and cost of warranty 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	Derivative Financial Instruments: As part of its risk management strategy, the Company enters into derivative contracts to hedge against interest rate and foreign currency risk. Certain derivative instruments designated as fair value hedges, cash flow hedges or net investment hedges are subject to hedge accounting. Derivative instruments that are not subject to hedge accounting are held as derivatives not designated as hedged instruments. 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 derivative counterparties is limited to the asset position of its derivative portfolio. The asset position of the Company’s derivative portfolio was $20.5 at December 31, 2020 The Company uses regression analysis to assess effectiveness of interest-rate contracts and net investment hedges at inception and uses quantitative analysis to assess subsequent effectiveness 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. Hedge accounting is discontinued prospectively when the Company determines that a derivative financial instrument has ceased to be a highly effective hedge. Cash flows from derivative instruments are included in operating activities in the Consolidated Statements of Cash Flows. As part of its risk management strategy, the Company enters into derivative contracts to hedge against interest rate and foreign currency risk.
Foreign Currency Translation	Foreign Currency Translation: For most of the Company’s foreign subsidiaries, the local currency is the functional currency. All assets and liabilities are translated at year-end exchange rates and all income statement amounts are translated at the weighted average rates for the period. Translation adjustments are recorded in AOCI. The Company uses the U.S. dollar as the functional currency for all but one of its Mexican subsidiaries, which uses the local currency. For the U.S. functional currency entities in Mexico, inventories, cost of sales, property, plant and equipment and depreciation are remeasured at historical rates and resulting adjustments are included in net income.
Earnings per Share	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.
New Accounting Pronouncements	New Accounting Pronouncements New Credit Loss Standard In June 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments The cumulative effect of the changes made to the Company’s Consolidated Balance Sheet on January 1, 2020 for the adoption of ASU 2016-13 was as follows: BALANCE AT DECEMBER 31, 2019 CHANGE DUE TO NEW STANDARD BALANCE AT JANUARY 1, 2020 Consolidated Balance Sheets FINANCIAL SERVICES: ASSETS Finance and other receivables, net $ 12,086.0 $ (6.2 ) $ 12,079.8 Other assets 715.0 .1 715.1 LIABILITIES Deferred taxes and other liabilities 790.2 (1.5 ) 788.7 STOCKHOLDERS' EQUITY Retained earnings 10,398.5 (4.6 ) 10,393.9 Other New Accounting Pronouncements In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting . This ASU provides temporary optional guidance to ease the potential burden in accounting for reference rate reform. The new guidance provides optional expedients and exceptions for applying GAAP to contract modifications and hedging relationships, subject to meeting certain criteria, that reference LIBOR or another reference rate expected to be discontinued. The ASU is intended to help stakeholders during the global market-wide reference rate transition period and will be in effect for a limited time through December 31, 2022. The Company adopted this ASU as of October 1, 2020. The Company will apply the accounting relief as relevant contract and hedge accounting relationship modifications are made during the reference rate reform transition period. The Company does not expect the standard to have a material impact on its consolidated financial statements. In addition to adopting the ASUs disclosed above, the Company adopted the following standards on January 1, 2020, which had no material impact on the Company’s consolidated financial statements. STANDARD DESCRIPTION 2018-13 Fair Value Measurement (Topic 820): Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement. 2018-15 Intangibles – Goodwill and Other – Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract. 2019-12 Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes. The FASB also issued the following standard, which is not expected to have a material impact on the Company’s consolidated financial statements. STANDARD DESCRIPTION EFFECTIVE DATE 2018-14 * Compensation – Retirement Benefits – Defined Benefit Plans – General (Topic 715-20): Disclosure Framework – Changes to the Disclosure Requirements for Defined Benefit Plans. January 1, 2021 * The Company will adopt on the effective date.
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 measurement date. Inputs to valuation techniques used to measure fair value are either observable or unobservable. These inputs have been categorized into the fair value hierarchy described below. 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 year ended December 31, 2020. 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.

Significant Accounting Polici_3

Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2020
ASU 2016-13
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Summary of Effect of the Changes Made by the Adoption of ASU	The cumulative effect of the changes made to the Company’s Consolidated Balance Sheet on January 1, 2020 for the adoption of ASU 2016-13 was as follows: BALANCE AT DECEMBER 31, 2019 CHANGE DUE TO NEW STANDARD BALANCE AT JANUARY 1, 2020 Consolidated Balance Sheets FINANCIAL SERVICES: ASSETS Finance and other receivables, net $ 12,086.0 $ (6.2 ) $ 12,079.8 Other assets 715.0 .1 715.1 LIABILITIES Deferred taxes and other liabilities 790.2 (1.5 ) 788.7 STOCKHOLDERS' EQUITY Retained earnings 10,398.5 (4.6 ) 10,393.9

Sales and Revenues (Tables)

Sales and Revenues (Tables)	12 Months Ended
	Dec. 31, 2020
Schedule of Revenues by Major Sources	The following table disaggregates Truck, Parts and Other revenues by major sources: Year Ended December 31, 2020 2019 Truck Truck sales $ 12,466.9 $ 19,225.2 Revenues from extended warranties, operating leases and other 697.9 764.3 13,164.8 19,989.5 Parts Parts sales 3,803.3 3,912.1 Revenues from dealer services and other 109.6 112.8 3,912.9 4,024.9 Winch sales and other 76.6 105.3 Truck, Parts and Other sales and revenues $ 17,154.3 $ 24,119.7
Financial Services
Summary of Financial Services Lease Revenues by Lease Type	The following table summarizes Financial Services lease revenues by lease type: Year Ended December 31, 2020 2019 Finance lease revenues $ 189.2 $ 199.7 Operating lease revenues 802.3 798.2 Total lease revenues $ 991.5 $ 997.9

Investments in Marketable Deb_2

Investments in Marketable Debt Securities (Tables)	12 Months Ended
	Dec. 31, 2020
Available For Sale Securities [Abstract]
Marketable Debt Securities	Marketable debt securities consisted of the following at December 31: AMORTIZED UNREALIZED UNREALIZED FAIR 2020 COST GAINS LOSSES VALUE U.S. tax-exempt securities $ 388.1 $ 4.4 $ .1 $ 392.4 U.S. corporate securities 229.6 3.3 232.9 U.S. government and agency securities 92.1 2.3 94.4 Non-U.S. corporate securities 406.0 5.5 411.5 Non-U.S. government securities 77.0 .5 77.5 Other debt securities 216.9 3.4 220.3 $ 1,409.7 $ 19.4 $ .1 $ 1,429.0 AMORTIZED UNREALIZED UNREALIZED FAIR 2019 COST GAINS LOSSES VALUE U.S. tax-exempt securities $ 318.1 $ 2.2 $ .1 $ 320.2 U.S. corporate securities 163.8 1.9 165.7 U.S. government and agency securities 128.4 .9 129.3 Non-U.S. corporate securities 347.7 2.3 .2 349.8 Non-U.S. government securities 72.3 .2 .1 72.4 Other debt securities 123.7 1.1 .1 124.7 $ 1,154.0 $ 8.6 $ .5 $ 1,162.1
Marketable Debt Securities Continuous Unrealized Losses	Marketable debt securities with continuous unrealized losses and their related fair values were as follows: At December 31, 2020 2019 LESS THAN TWELVE MONTHS TWELVE MONTHS OR GREATER LESS THAN TWELVE MONTHS TWELVE MONTHS OR GREATER Fair value $ 81.1 $ 1.3 $ 177.0 $ 31.4 Unrealized losses .1 .4 .1
Contractual Maturities of Debt Securities	Contractual maturities on marketable debt securities at December 31, 2020 AMORTIZED FAIR Maturities: COST VALUE Within one year $ 313.9 $ 315.7 One to five years 1,088.6 1,106.1 Six to ten years 5.2 5.2 More than ten years 2.0 2.0 $ 1,409.7 $ 1,429.0

Inventories (Tables)

Inventories (Tables)	12 Months Ended
	Dec. 31, 2020
Inventory Disclosure [Abstract]
Inventories	Inventories include the following: At December 31, 2020 2019 Finished products $ 610.0 $ 584.6 Work in process and raw materials 801.9 754.9 1,411.9 1,339.5 Less LIFO reserve (190.0 ) (186.3 ) $ 1,221.9 $ 1,153.2

Finance and Other Receivables (

Finance and Other Receivables (Tables)	12 Months Ended
	Dec. 31, 2020
Receivables [Abstract]
Finance and Other Receivables	Finance and other receivables include the following: At December 31, 2020 2019 Loans $ 5,839.1 $ 5,241.7 Finance leases 3,944.7 3,906.7 Dealer wholesale financing 2,012.4 2,907.4 Operating lease receivables and other 151.5 142.6 $ 11,947.7 $ 12,198.4 Less allowance for losses: Loans and leases (120.4 ) (104.4 ) Dealer wholesale financing (3.4 ) (4.3 ) Operating lease receivables and other (3.2 ) (3.7 ) $ 11,820.7 $ 12,086.0
Annual Minimum Payments Due on Loans	Annual minimum payments due on loans are as follows: Beginning January 1, LOANS 2021 $ 1,758.4 2022 1,480.1 2023 1,223.6 2024 881.8 2025 380.0 Thereafter 115.2 $ 5,839.1
Annual Minimum Payments Due on Finance Lease Receivables and a Reconciliation of the Undiscounted Cash Flows to the Net Investment in Finance Leases	Annual minimum payments due on finance lease r eceivables and a reconciliation of the undiscounted cash flows to the net investment in finance leases are as follows: FINANCE Beginning January 1, LEASES 2021 $ 1,310.4 2022 1,030.5 2023 775.0 2024 458.8 2025 223.4 Thereafter 82.5 3,880.6 Unguaranteed residual values 458.8 Unearned interest on finance leases (394.7 ) Net investment in finance leases $ 3,944.7
Allowance for Credit Losses	Allowance for Credit Losses: The allowance for credit losses is summarized as follows: 2020 DEALER CUSTOMER WHOLESALE RETAIL RETAIL OTHER* TOTAL** Balance at January 1 $ 4.3 $ 9.2 $ 101.4 $ 3.7 $ 118.6 Provision for losses (1.0 ) (.8 ) 30.1 .5 28.8 Charge-offs (26.6 ) (1.4 ) (28.0 ) Recoveries 5.3 .4 5.7 Currency translation and other .1 1.8 1.9 Balance at December 31 $ 3.4 8.4 $ 112.0 $ 3.2 $ 127.0 2019 DEALER CUSTOMER WHOLESALE RETAIL RETAIL OTHER* TOTAL Balance at January 1 $ 6.8 $ 10.0 $ 93.8 $ 3.2 $ 113.8 Provision for losses (1.6 ) (1.0 ) 14.2 3.8 15.4 Charge-offs (.6 ) (24.2 ) (3.6 ) (28.4 ) Recoveries 10.7 .3 11.0 Currency translation and other (.3 ) .2 .7 .6 Balance at December 31 $ 4.3 $ 9.2 $ 95.2 $ 3.7 $ 112.4 * Operating lease and other trade receivables. ** The beginning balance has been adjusted for the adoption of ASU 2016-13. 2018 DEALER CUSTOMER WHOLESALE RETAIL RETAIL OTHER* TOTAL Balance at January 1 $ 6.0 $ 9.4 $ 92.5 $ 9.3 $ 117.2 Provision for losses 1.0 .7 13.6 1.2 16.5 Charge-offs (20.0 ) (7.5 ) (27.5 ) Recoveries 9.9 .4 10.3 Currency translation and other (.2 ) (.1 ) (2.2 ) (.2 ) (2.7 ) Balance at December 31 $ 6.8 $ 10.0 $ 93.8 $ 3.2 $ 113.8 * Operating lease 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 December 31, 2020 WHOLESALE RETAIL RETAIL TOTAL Amortized cost basis for impaired finance receivables evaluated individually $ 1.2 $ 86.7 $ 87.9 Allowance for impaired finance receivables determined individually 5.6 5.6 Amortized cost basis for finance receivables evaluated collectively $ 2,012.4 1,701.9 7,994.0 11,708.3 Allowance for finance receivables determined collectively 3.4 8.4 106.4 118.2 DEALER CUSTOMER At December 31, 2019 WHOLESALE RETAIL RETAIL TOTAL Amortized cost basis for impaired finance receivables evaluated individually $ 2.3 $ 47.6 $ 49.9 Allowance for impaired finance receivables determined individually 6.5 6.5 Amortized cost basis for finance receivables evaluated collectively $ 2,907.4 1,643.3 7,455.2 12,005.9 Allowance for finance receivables determined collectively 4.3 9.2 88.7 102.2
Amortized Cost Basis for Finance Receivables that are on Non-Accrual Status	The amortized cost basis for finance receivables that are on non-accrual status is as follows: At December 31, 2020 2019 Dealer: Retail $ 1.2 $ 2.3 Customer retail: Fleet 78.6 40.2 Owner/operator 8.1 7.2 $ 87.9 $ 49.7
Amortized Cost Basis of Impaired Loans and Specific Reserve	The amortized cost basis of impaired loans as of December 31, 2020 and 2019 was not significantly different than the unpaid principal balance. DEALER CUSTOMER RETAIL At December 31, 2020 WHOLESALE RETAIL FLEET OWNER/ OPERATOR TOTAL Impaired loans with a specific reserve $ 22.6 $ 2.1 $ 24.7 Associated allowance (1.6 ) (.3 ) (1.9 ) 21.0 1.8 22.8 Impaired loans with no specific reserve $ 1.2 1.2 Net carrying amount of impaired loans $ 1.2 $ 21.0 $ 1.8 $ 24.0 Average amortized cost basis $ 1.6 $ 26.5 $ 2.8 $ 30.9 DEALER CUSTOMER RETAIL At December 31, 2019 WHOLESALE RETAIL FLEET OWNER/ OPERATOR TOTAL Impaired loans with a specific reserve $ 10.9 $ 3.1 $ 14.0 Associated allowance (2.1 ) (.6 ) (2.7 ) 8.8 2.5 11.3 Impaired loans with no specific reserve $ 2.3 6.7 .4 9.4 Net carrying amount of impaired loans $ 2.3 $ 15.5 $ 2.9 $ 20.7 Average amortized cost basis $ 4.9 $ 2.4 $ 16.6 $ 3.4 $ 27.3
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: Year Ended December 31, 2020 2019 2018 Dealer: Retail $ .2 $ .2 Customer retail: Fleet 1.5 1.3 $ 2.0 Owner/operator .2 .2 .2 $ 1.9 $ 1.7 $ 2.2
Amortized Cost Basis of Finance Receivables by Credit Quality Indicator and Portfolio Class	The table below summarizes the amortized cost basis of the Company’s finance receivables within each credit quality indicator by year of origination and portfolio class. Revolving At December 31, 2020 Loans 2020 2019 2018 2017 2016 Prior Total Dealer: Wholesale: Performing $ 2,004.5 $ 2,004.5 Watch 7.9 7.9 $ 2,012.4 $ 2,012.4 Retail: Performing $ 20.7 $ 504.2 $ 474.9 $ 268.0 $ 180.1 $ 100.4 $ 132.0 $ 1,680.3 Watch 5.2 10.5 4.5 1.4 21.6 At-risk 1.2 1.2 $ 20.7 $ 509.4 $ 485.4 $ 272.5 $ 181.5 $ 101.6 $ 132.0 $ 1,703.1 Total Dealer $ 2,033.1 $ 509.4 $ 485.4 $ 272.5 $ 181.5 $ 101.6 $ 132.0 $ 3,715.5 Customer Retail: Fleet: Performing $ 2,664.9 $ 1,921.6 $ 1,203.7 $ 533.7 $ 234.2 $ 65.2 $ 6,623.3 Watch 13.5 17.8 11.8 5.9 1.5 1.2 51.7 At-risk 8.0 37.0 18.2 12.2 2.4 .8 78.6 $ 2,686.4 $ 1,976.4 $ 1,233.7 $ 551.8 $ 238.1 $ 67.2 $ 6,753.6 Owner/Operator: Performing $ 554.6 $ 376.4 $ 225.1 $ 105.2 $ 41.2 $ 9.1 $ 1,311.6 Watch 1.6 2.7 2.0 .7 .2 .2 7.4 At-risk .9 2.1 3.2 1.2 .4 .3 8.1 $ 557.1 $ 381.2 $ 230.3 $ 107.1 $ 41.8 $ 9.6 $ 1,327.1 Total Customer Retail $ 3,243.5 $ 2,357.6 $ 1,464.0 $ 658.9 $ 279.9 $ 76.8 $ 8,080.7 Total $ 2,033.1 $ 3,752.9 $ 2,843.0 $ 1,736.5 $ 840.4 $ 381.5 $ 208.8 $ 11,796.2
Finance 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 At December 31, 2020 WHOLESALE RETAIL FLEET OWNER/ OPERATOR TOTAL Current and up to 30 days past due $ 2,012.4 $ 1,703.1 $ 6,718.3 $ 1,314.7 $ 11,748.5 31 – 60 days past due 12.3 6.5 18.8 Greater than 60 days past due 23.0 5.9 28.9 $ 2,012.4 $ 1,703.1 $ 6,753.6 $ 1,327.1 $ 11,796.2 DEALER CUSTOMER RETAIL At December 31, 2019 WHOLESALE RETAIL FLEET OWNER/ OPERATOR TOTAL Current and up to 30 days past due $ 2,907.4 $ 1,645.6 $ 6,297.1 $ 1,140.7 $ 11,990.8 31 – 60 days past due 23.0 8.7 31.7 Greater than 60 days past due 27.6 5.7 33.3 $ 2,907.4 $ 1,645.6 $ 6,347.7 $ 1,155.1 $ 12,055.8
Pre- and Post-Modification Amortized Cost Basis Balances by Portfolio Class	At modification date, the pre-modification and post-modification amortized cost basis balances for finance receivables modified during the period by portfolio class were as follows: 2020 2019 AMORTIZED COST BASIS AMORTIZED COST BASIS PRE-MODIFICATION POST-MODIFICATION PRE-MODIFICATION POST-MODIFICATION Fleet $ 72.5 $ 72.5 $ 2.2 $ 2.2 Owner/operator 2.2 2.2 .3 .3 $ 74.7 $ 74.7 $ 2.5 $ 2.5

Equipment On Operating Leases (

Equipment On Operating Leases (Tables)	12 Months Ended
	Dec. 31, 2020
Lessor Disclosure [Abstract]
Equipment on Operating Leases for Truck Parts and Other Segment and for Financial Services Segment	A summary of equipment on operating leases for Truck, Parts and Other and for the Financial Services segment is presented below. TRUCK, PARTS AND OTHER FINANCIAL SERVICES At December 31, 2020 2019 2020 2019 Equipment on operating leases $ 576.8 $ 706.3 $ 4,493.9 $ 4,350.0 Less allowance for depreciation (154.9 ) (160.8 ) (1,331.1 ) (1,247.4 ) $ 421.9 $ 545.5 $ 3,162.8 $ 3,102.6
Residual Value Obligation and Deferred Lease Revenue	These amounts are summarized below: TRUCK, PARTS AND OTHER At December 31, 2020 2019 Residual value guarantees $ 358.4 $ 439.6 Deferred lease revenues 99.0 147.7 $ 457.4 $ 587.3

Property, Plant And Equipment (

Property, Plant And Equipment (Tables)	12 Months Ended
	Dec. 31, 2020
Property Plant And Equipment [Abstract]
Property, Plant And Equipment	Property, plant and equipment include the following: At December 31, USEFUL LIVES 2020 2019 Land $ 286.4 $ 271.8 Buildings and improvements 10 - 40 years 1,474.7 1,382.2 Machinery, equipment and production tooling 3 - 12 years 4,234.4 3,998.2 Construction in progress 1,081.8 741.7 7,077.3 6,393.9 Less allowance for depreciation (3,806.9 ) (3,510.1 ) $ 3,270.4 $ 2,883.8

Accounts Payable, Accrued Exp_2

Accounts Payable, Accrued Expenses and Other (Tables)	12 Months Ended
	Dec. 31, 2020
Payables And Accruals [Abstract]
Accounts Payable, Accrued Expenses and Other	Accounts payable, accrued expenses and other include the following: At December 31, 2020 2019 Truck, Parts and Other: Accounts payable $ 1,176.2 $ 1,115.7 Product support liabilities 514.6 508.1 Accrued expenses 446.5 467.4 Right-of-return liabilities 337.3 226.0 Accrued capital expenditures 288.8 270.3 Salaries and wages 260.8 271.8 Other 389.7 334.9 $ 3,413.9 $ 3,194.2

Product Support Liabilities (Ta

Product Support Liabilities (Tables)	12 Months Ended
	Dec. 31, 2020
Product Warranties Disclosures [Abstract]
Changes in Product Support Liabilities, Warranty Reserves	WARRANTY RESERVES 2020 2019 2018 Balance at January 1 $ 440.0 $ 380.2 $ 298.8 Cost accruals 295.0 386.3 331.9 Payments (437.2 ) (343.7 ) (271.8 ) Change in estimates for pre-existing warranties 84.1 19.8 25.6 Currency translation and other 7.8 (2.6 ) (4.3 ) Balance at December 31 $ 389.7 $ 440.0 $ 380.2
Changes in Deferred Revenues on Extended Warranties and R&M Contracts	DEFERRED REVENUES ON EXTENDED WARRANTIES AND R&M CONTRACTS 2020 2019 2018 Balance at January 1 $ 801.4 $ 699.9 $ 653.9 Deferred revenues 409.9 499.1 448.2 Revenues recognized (438.9 ) (396.4 ) (385.0 ) Currency translation 23.4 (1.2 ) (17.2 ) Balance at December 31 $ 795.8 $ 801.4 $ 699.9
Product Support Liabilities	Product support liabilities are included in the accompanying Consolidated Balance Sheets as follows: WARRANTY RESERVES DEFERRED REVENUES At December 31, 2020 2019 2020 2019 Truck, Parts and Other: Accounts payable, accrued expenses and other $ 245.6 $ 270.6 $ 269.0 $ 237.5 Other liabilities 144.1 169.4 513.1 547.6 Financial Services: Accounts payable, accrued expenses and other 5.7 6.8 Deferred taxes and other liabilities 8.0 9.5 $ 389.7 $ 440.0 $ 795.8 $ 801.4

Borrowings And Credit Arrange_2

Borrowings And Credit Arrangements (Tables)	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
Financial Services Borrowings	Financial Services borrowings include the following: At December 31, 2020 2019 EFFECTIVE EFFECTIVE RATE BORROWINGS RATE BORROWINGS Commercial paper .4 % $ 3,113.5 1.5 % $ 3,797.2 Bank loans 5.9 % 230.9 7.1 % 313.0 3,344.4 4,110.2 Term notes 1.7 % 7,508.9 1.9 % 7,112.5 1.4 % $ 10,853.3 1.9 % $ 11,222.7
Annual Maturities of Financial Services Borrowings	The annual maturities of the Financial Services borrowings are as follows: COMMERCIAL BANK TERM Beginning January 1, PAPER LOANS NOTES TOTAL 2021 $ 3,114.2 $ 40.1 $ 2,241.7 $ 5,396.0 2022 121.6 2,231.9 2,353.5 2023 19.0 2,231.9 2,250.9 2024 25.1 415.4 440.5 2025 25.1 400.0 425.1 $ 3,114.2 $ 230.9 $ 7,520.9 $ 10,866.0

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2020
Leases [Abstract]
Schedule of Components of Lease Expense	The components of lease expense were as follows: Year Ended December 31, 2020 2019 Finance lease cost Amortization of right-of-use assets $ .9 $ .9 Interest on lease liabilities .1 .1 Operating lease cost 16.6 16.9 Short-term lease cost .8 .7 Variable lease cost 1.7 1.8 Total lease cost $ 20.1 $ 20.4
Schedule of Balance Sheet Information Related to Leases	Balance sheet information related to leases was as follows: At December 31, 2020 2019 OPERATING LEASES FINANCE LEASES OPERATING LEASES FINANCE LEASES TRUCK, PARTS AND OTHER: Other noncurrent assets $ 30.9 $ 1.0 $ 31.7 $ 1.1 FINANCIAL SERVICES: Other assets 9.0 5.2 Total right-of-use assets $ 39.9 $ 1.0 $ 36.9 $ 1.1 TRUCK, PARTS AND OTHER: Accounts payable, accrued expenses and other $ 11.4 $ .5 $ 13.0 $ .7 Other liabilities 20.3 .5 19.5 .5 FINANCIAL SERVICES: Accounts payable, accrued expenses and other 2.0 1.5 Deferred taxes and other liabilities 6.6 3.7 Total lease liabilities $ 40.3 $ 1.0 $ 37.7 $ 1.2
Schedule of Weighted-Average Remaining Lease Term and Discount Rate	The weighted-average remaining lease term and discount rate are as follows at December 31: 2020 2019 OPERATING LEASES FINANCE LEASES OPERATING LEASES FINANCE LEASES Weighted-average remaining lease term 5.7 years 2.3 years 5.1 years 2.2 years Weighted-average discount rate 1.4 % 2.5 % 1.9 % 4.0 %
Schedule of Maturities of Lease Liabilities	Maturities of lease liabilities are as follows: Beginning January 1, OPERATING LEASES FINANCE LEASES 2021 $ 13.7 $ .6 2022 10.6 .2 2023 5.8 .2 2024 3.2 .1 2025 2.4 Thereafter 6.0 Total lease payments 41.7 1.1 Less: interest (1.4 ) (.1 ) Total lease liabilities $ 40.3 $ 1.0
Schedule of Cash Flow Information Related to Leases	Cash flow information related to leases was as follows: Year Ended December 31, 2020 2019 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 17.2 $ 17.0 Operating cash flows from finance leases .1 .2 Financing cash flows from finance leases .9 1.0 Right-of-use assets obtained in exchange for lease liabilities Operating leases 19.9 8.9 Finance leases .5 .7

Employee Benefits (Tables)

Employee Benefits (Tables)	12 Months Ended
	Dec. 31, 2020
Compensation And Retirement Disclosure [Abstract]
Allocation of Plan Assets by Investment	The following information details the allocation of plan assets by investment type. See Note Q for definitions of fair value levels. FAIR VALUE HIERARCHY At December 31, 2020 TARGET LEVEL 1 LEVEL 2 TOTAL MEASURED AT NAV TOTAL Equities: U.S. equities $ 1,047.0 $ 1,047.0 Global equities 1,140.6 1,140.6 Total equities 50 - 70% 2,187.6 2,187.6 Fixed income: U.S. fixed income $ 83.9 $ 296.0 $ 379.9 $ 719.9 $ 1,099.8 Non-U.S. fixed income 30.4 30.4 372.8 403.2 Total fixed income 30 - 50% 83.9 326.4 410.3 1,092.7 1,503.0 Cash and other 2.6 99.8 102.4 .4 102.8 Total plan assets $ 86.5 $ 426.2 $ 512.7 $ 3,280.7 $ 3,793.4 FAIR VALUE HIERARCHY At December 31, 2019 TARGET LEVEL 1 LEVEL 2 TOTAL MEASURED AT NAV TOTAL Equities: U.S. equities $ 860.1 $ 860.1 Global equities 973.1 973.1 Total equities 50 - 70% 1,833.2 1,833.2 Fixed income: U.S. fixed income $ 90.6 $ 260.3 $ 350.9 $ 611.7 $ 962.6 Non-U.S. fixed income 28.1 28.1 322.0 350.1 Total fixed income 30 - 50% 90.6 288.4 379.0 933.7 1,312.7 Cash and other 10.6 68.2 78.8 1.7 80.5 Total plan assets $ 101.2 $ 356.6 $ 457.8 $ 2,768.6 $ 3,226.4
Weighted Average Assumptions of Pension Plans	The following weighted average assumptions relate to all pension plans of the Company: At December 31, 2020 2019 Discount rate 2.2 % 2.9 % Rate of increase in future compensation levels 3.7 % 3.8 % Assumed long-term rate of return on plan assets 6.2 % 6.3 %
Components of Change in Projected Benefit Obligation and Change in Plan Assets	The components of the change in projected benefit obligation and change in plan assets are as follows: At December 31, 2020 2019 Change in projected benefit obligation: Benefit obligation at January 1 $ 3,234.4 $ 2,655.4 Service cost 130.4 102.0 Interest cost 83.0 95.6 Benefits paid (120.2 ) (127.0 ) Actuarial loss 379.5 478.0 Currency translation and other 54.4 30.0 Participant contributions .4 .4 Projected benefit obligation at December 31 $ 3,761.9 $ 3,234.4 Change in plan assets: Fair value of plan assets at January 1 $ 3,226.4 $ 2,699.2 Employer contributions 184.9 35.7 Actual return on plan assets 453.4 588.1 Benefits paid (120.2 ) (127.0 ) Currency translation and other 48.5 30.0 Participant contributions .4 .4 Fair value of plan assets at December 31 $ 3,793.4 $ 3,226.4 Funded status at December 31 $ 31.5 $ (8.0 )
Amounts Recorded on Balance Sheets	At December 31, 2020 2019 Amounts recorded on Balance Sheet: Other noncurrent assets $ 222.1 $ 146.5 Accounts payable, accrued expenses and other 25.5 39.9 Other liabilities 165.1 114.6 Accumulated other comprehensive loss: Actuarial loss 571.7 512.5 Prior service cost 6.3 5.1 Net initial transition amount .1
Information for Plans with Accumulated Benefit Obligation in Excess of Plan Assets	Information for all plans with an accumulated benefit obligation in excess of plan assets is as follows: At December 31, 2020 2019 Projected benefit obligation $ 167.9 $ 170.6 Accumulated benefit obligation 148.7 150.1 Fair value of plan assets 13.5 23.4
Components of Pension Expense	The components of pension expense are as follows: Year Ended December 31, 2020 2019 2018 Service cost $ 130.4 $ 102.0 $ 108.3 Interest on projected benefit obligation 83.0 95.6 85.8 Expected return on assets (190.6 ) (176.6 ) (177.2 ) Amortization of prior service costs 1.5 1.4 1.4 Recognized actuarial loss 44.2 20.5 35.3 Settlement loss 11.6 Net pension expense $ 80.1 $ 42.9 $ 53.6
Multi-employer Plans	The Company’s participation in the following multi-employer plans for the years ended December 31 are as follows: PENSION COMPANY CONTRIBUTIONS PENSION PLAN EIN NUMBER 2020 2019 2018 Metal and Electrical Engineering Industry Pension 135668 $ 33.9 $ 27.8 $ 27.9 Western Metal Industry Pension Plan 91-6033499 001 3.0 3.8 2.7 Other plans .9 1.2 1.2 $ 37.8 $ 32.8 $ 31.8

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Components of Income Before Income Taxes	The components of the Company’s income before income taxes include the following: Year Ended December 31, 2020 2019 2018 Domestic $ 1,122.9 $ 2,201.1 $ 1,775.2 Foreign 535.0 898.1 1,035.0 $ 1,657.9 $ 3,099.2 $ 2,810.2
Components of Provision for Income Taxes	The components of the Company’s provision for income taxes include the following: Year Ended December 31, 2020 2019 2018 Current provision: Federal $ 182.5 $ 352.3 $ 267.1 State 44.9 96.8 67.5 Foreign 132.6 191.4 263.0 360.0 640.5 597.6 Deferred (benefit) provision: Federal (11.2 ) 40.7 22.6 State 1.7 (4.3 ) 1.3 Foreign 9.0 34.4 (6.4 ) (.5 ) 70.8 17.5 $ 359.5 $ 711.3 $ 615.1
Reconciliation of Statutory U.S Federal Tax Rate to Effective Income Tax Rate	A reconciliation of the statutory U.S. federal tax rate to the effective income tax rate is as follows: 2020 2019 2018 Statutory rate 21.0 % 21.0 % 21.0 % Effect of: Transition tax (.2 ) State 2.3 2.3 2.2 Research and development tax credit (1.4 ) (.9 ) (.8 ) Tax on foreign earnings .8 .9 1.0 Other, net (1.0 ) (.3 ) (1.3 ) 21.7 % 23.0 % 21.9 %
Tax Effects of Temporary Differences Representing Deferred Tax Assets and Liabilities and Balance Sheet Classification	The tax effects of temporary differences representing deferred tax assets and liabilities are as follows: At December 31, 2020 2019 Assets: Accrued expenses $ 205.3 $ 203.5 Net operating loss and tax credit carryforwards 140.1 132.0 Postretirement benefit plans 4.9 Allowance for losses on receivables 36.0 31.4 Goodwill and intangibles 10.0 18.7 Other 122.9 103.3 514.3 493.8 Valuation allowance (102.1 ) (118.5 ) 412.2 375.3 Liabilities: Financial Services leasing depreciation (765.1 ) (777.5 ) Depreciation and amortization (168.0 ) (159.4 ) Postretirement benefit plans (3.0 ) Other (46.1 ) (28.9 ) (982.2 ) (965.8 ) Net deferred tax liability $ (570.0 ) $ (590.5 ) The balance sheet classifications of the Company’s deferred tax assets and liabilities are as follows: At December 31, 2020 2019 Truck, Parts and Other: Other noncurrent assets, net $ 90.4 $ 115.4 Other liabilities (3.5 ) (5.3 ) Financial Services: Other assets 46.8 36.8 Deferred taxes and other liabilities (703.7 ) (737.4 ) Net deferred tax liability $ (570.0 ) $ (590.5 )
Reconciliation of Beginning and Ending Amounts of Unrecognized Tax Benefits	A reconciliation of the beginning and ending amounts of unrecognized tax benefits is as follows: 2020 2019 2018 Balance at January 1 $ 30.7 $ 21.2 $ 22.9 Additions for tax positions related to the current year 5.5 6.5 11.2 Additions for tax positions related to prior years .3 3.0 Reductions for tax positions related to prior years (4.2 ) Reductions related to settlements (5.7 ) Lapse of statute of limitations (7.8 ) (7.2 ) Balance at December 31 $ 24.5 $ 30.7 $ 21.2

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	12 Months Ended
	Dec. 31, 2020
Equity [Abstract]
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 and the Consolidated Statements of Stockholders’ Equity, consisted of the following: DERIVATIVE CONTRACTS MARKETABLE DEBT SECURITIES PENSION PLANS FOREIGN CURRENCY TRANSLATION TOTAL Balance at January 1, 2020 $ (15.3 ) $ 6.1 $ (517.7 ) $ (573.2 ) $ (1,100.1 ) Recorded into AOCI (78.4 ) 10.3 (104.0 ) 115.6 (56.5 ) Reclassified out of AOCI 64.5 (1.8 ) 43.6 106.3 Net other comprehensive (loss) income (13.9 ) 8.5 (60.4 ) 115.6 49.8 Balance at December 31, 2020 $ (29.2 ) $ 14.6 $ (578.1 ) $ (457.6 ) $ (1,050.3 ) DERIVATIVE CONTRACTS MARKETABLE DEBT SECURITIES PENSION PLANS FOREIGN CURRENCY TRANSLATION TOTAL Balance at January 1, 2019 $ 2.0 $ (2.3 ) $ (477.8 ) $ (620.4 ) $ (1,098.5 ) Recorded into AOCI (57.0 ) 8.7 (56.8 ) 47.2 (57.9 ) Reclassified out of AOCI 39.7 (.3 ) 16.9 56.3 Net other comprehensive (loss) income (17.3 ) 8.4 (39.9 ) 47.2 (1.6 ) Balance at December 31, 2019 $ (15.3 ) $ 6.1 $ (517.7 ) $ (573.2 ) $ (1,100.1 ) DERIVATIVE CONTRACTS MARKETABLE DEBT SECURITIES PENSION PLANS FOREIGN CURRENCY TRANSLATION TOTAL Balance at January 1, 2018 $ 1.2 $ (1.8 ) $ (375.6 ) $ (417.4 ) $ (793.6 ) Recorded into AOCI 90.9 .1 (86.8 ) (213.3 ) (209.1 ) Reclassified out of AOCI (90.5 ) (.1 ) 28.0 (62.6 ) Net other comprehensive income (loss) .4 (58.8 ) (213.3 ) (271.7 ) Reclassifications to retained earnings in accordance with ASU 2018-02 .4 (.5 ) (43.4 ) 10.3 (33.2 ) Balance at December 31, 2018 $ 2.0 $ (2.3 ) $ (477.8 ) $ (620.4 ) $ (1,098.5 )
Reclassifications Out of Accumulated Other Comprehensive Income	Reclassifications out of AOCI during the years ended December 31, 2020, 2019 and 2018 were as follows: AMOUNT AOCI COMPONENTS LINE ITEM IN THE CONSOLIDATED STATEMENTS OF INCOME 2020 2019 2018 Unrealized (gains) and losses on derivative contracts: Truck, Parts and Other Foreign-exchange contracts Net sales and revenues $ (4.0 ) $ 21.2 $ 5.4 Cost of sales and revenues 1.7 (4.1 ) (6.6 ) Interest and other (income), net (4.6 ) 2.1 (1.6 ) Financial Services Interest-rate contracts Interest and other borrowing expenses 94.5 32.5 (118.7 ) Pre-tax expense increase (reduction) 87.6 51.7 (121.5 ) Tax (benefit) expense (23.1 ) (12.0 ) 31.0 After-tax expense increase (reduction) 64.5 39.7 (90.5 ) Unrealized Marketable debt securities Investment income (2.4 ) (.4 ) (.2 ) Tax expense .6 .1 .1 After-tax income increase (1.8 ) (.3 ) (.1 ) Unrealized losses on pension plans: Truck, Parts and Other Actuarial loss Interest and other (income), net 44.2 20.5 35.3 Prior service costs Interest and other (income), net 1.5 1.4 1.4 Settlement loss Interest and other (income), net 11.6 Pre-tax expense increase 57.3 21.9 36.7 Tax benefit (13.7 ) (5.0 ) (8.7 ) After-tax expense increase 43.6 16.9 28.0 Total reclassifications out of AOCI $ 106.3 $ 56.3 $ (62.6 )

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2020
Derivative Instruments And Hedging Activities Disclosure [Abstract]
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: At December 31, 2020 2019 ASSETS LIABILITIES ASSETS LIABILITIES Derivatives designated under hedge accounting: Interest-rate contracts: Financial Services: Other assets $ 16.4 $ 45.8 Deferred taxes and other liabilities $ 116.1 $ 31.0 Foreign-exchange contracts: Truck, Parts and Other: Other current assets 2.7 10.1 Accounts payable, accrued expenses and other 35.9 9.2 Financial Services: Deferred taxes and other liabilities 1.2 $ 19.1 $ 153.2 $ 55.9 $ 40.2 Derivatives not designated as hedging instruments: Foreign-exchange contracts: Truck, Parts and Other: Other current assets $ 1.1 $ .4 Accounts payable, accrued expenses and other $ 3.3 $ 1.8 Financial Services: Other assets .3 Deferred taxes and other liabilities 3.4 2.3 $ 1.4 $ 6.7 $ .4 $ 4.1 Gross amounts recognized in Balance Sheet $ 20.5 $ 159.9 $ 56.3 $ 44.3 Less amounts not offset in financial instruments: Truck, Parts and Other: Foreign-exchange contracts (2.1 ) (2.1 ) (.4 ) (.4 ) Financial Services: Interest-rate contracts (12.0 ) (12.0 ) (8.6 ) (8.6 ) Pro forma net amount $ 6.4 $ 145.8 $ 47.3 $ 35.3
Amount of (Gain) Loss from Derivative Financial Instruments Reclassified from AOCI into Consolidated Statements of Income	The following table presents the amount of (gain) loss from derivative financial instruments reclassified from AOCI into the Consolidated Statements of Income: Year Ended December 31, 2020 2019 2018 Truck, Parts and Other: Cash flow hedges $ (6.9 ) $ 19.2 $ (2.8 ) Net investment hedge (5.6 ) (4.6 ) Total $ (12.5 ) $ 14.6 $ (2.8 ) Financial Services: Fair value hedges 1.1 1.5 1.8 Cash flow hedges 94.5 32.5 (118.7 ) Total $ 95.6 $ 34.0 $ (116.9 )
Amounts Related to Cumulative Basis Adjustments for Fair Value Hedges	The following table presents the amounts recorded on the Consolidated Balance Sheets related to cumulative basis adjustments for fair value hedges: At December 31, 2020 2019 Financial Services Term notes: Carrying amount of hedged liabilities $ 90.9 $ 90.5 Cumulative basis adjustment included in the carrying amount (.9 ) (.5 )
Pre-Tax Effects of (Loss) Gain Derivative Instruments Recognized in OCI	The following table presents the pre-tax effects of (loss) gain on cash flow hedges recognized in other comprehensive income (loss) (OCI): Year Ended December 31, 2020 2019 2018 INTEREST- FOREIGN- INTEREST- FOREIGN- INTEREST- FOREIGN- RATE EXCHANGE RATE EXCHANGE RATE EXCHANGE CONTRACTS CONTRACTS CONTRACTS CONTRACTS CONTRACTS CONTRACTS (Loss) gain recognized in OCI: Truck, Parts and Other $ 2.8 $ (31.7 ) $ 4.5 Financial Services $ (107.3 ) (.8 ) $ (44.4 ) $ 117.1 $ (107.3 ) $ 2.0 $ (44.4 ) $ (31.7 ) $ 117.1 $ 4.5
(Gain) Loss Recognized in Earnings to Derivatives not Designated as Hedging Instruments	The loss (gain) recognized in earnings related to derivatives not designated as hedging instruments was as follows: Year Ended December 31, 2020 2019 2018 INTEREST- FOREIGN- INTEREST- FOREIGN- INTEREST- FOREIGN- RATE EXCHANGE RATE EXCHANGE RATE EXCHANGE CONTRACTS CONTRACTS CONTRACTS CONTRACTS CONTRACTS CONTRACTS Truck, Parts and Other: Cost of sales and revenues $ .7 $ .5 $ (.3 ) Interest and other (income), net 2.3 5.4 6.9 Financial Services: Interest and other borrowing expenses 9.4 (10.1 ) (14.9 ) Selling, general and administrative .8 .1 1.7 $ 13.2 $ (4.1 ) $ (6.6 )

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2020
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 December 31, 2020 LEVEL 1 LEVEL 2 TOTAL Assets: Marketable debt securities U.S. tax-exempt securities $ 392.4 $ 392.4 U.S. corporate securities 232.9 232.9 U.S. government and agency securities $ 86.5 7.9 94.4 Non-U.S. corporate securities 411.5 411.5 Non-U.S. government securities 77.5 77.5 Other debt securities 220.3 220.3 Total marketable debt securities $ 86.5 $ 1,342.5 $ 1,429.0 Derivatives Cross currency swaps $ 14.8 $ 14.8 Interest-rate swaps 1.6 1.6 Foreign-exchange contracts 4.1 4.1 Total derivative assets $ 20.5 $ 20.5 Liabilities: Derivatives Cross currency swaps $ 77.6 $ 77.6 Interest-rate swaps 38.5 38.5 Foreign-exchange contracts 43.8 43.8 Total derivative liabilities $ 159.9 $ 159.9 At December 31, 2019 LEVEL 1 LEVEL 2 TOTAL Assets: Marketable debt securities U.S. tax-exempt securities $ 320.2 $ 320.2 U.S. corporate securities 165.7 165.7 U.S. government and agency securities $ 128.4 .9 129.3 Non-U.S. corporate securities 349.8 349.8 Non-U.S. government securities 72.4 72.4 Other debt securities 124.7 124.7 Total marketable debt securities $ 128.4 $ 1,033.7 $ 1,162.1 Derivatives Cross currency swaps $ 43.8 $ 43.8 Interest-rate swaps 2.0 2.0 Foreign-exchange contracts 10.5 10.5 Total derivative assets $ 56.3 $ 56.3 Liabilities: Derivatives Cross currency swaps $ 13.5 $ 13.5 Interest-rate swaps 17.5 17.5 Foreign-exchange contracts 13.3 13.3 Total derivative liabilities $ 44.3 $ 44.3
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: At December 31, 2020 2019 CARRYING FAIR CARRYING FAIR AMOUNT VALUE AMOUNT VALUE Assets: Financial Services fixed rate loans $ 5,319.2 $ 5,429.5 $ 4,914.4 $ 4,992.2 Liabilities: Financial Services fixed rate debt 6,482.0 6,648.6 5,925.9 5,990.7

Stock Compensation Plans (Table

Stock Compensation Plans (Tables)	12 Months Ended
	Dec. 31, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Assumptions Used in Determining Fair Value of Option Awards	The assumptions used in determining the fair value of the option awards for each of the grant years are as follows: 2020 2019 2018 Risk-free interest rate 1.54 % 2.55 % 2.64 % Expected volatility 23 % 23 % 23 % Expected dividend yield 4.1 % 4.9 % 3.8 % Expected term 6 years 6 years 6 years Weighted average grant date fair value of options per share $ 10.02 $ 8.26 $ 10.67
Activity Under Company's Stock Plans	A summary of activity under the Company’s stock plans is presented below: 2020 2019 2018 Intrinsic value of options exercised $ 26.9 $ 31.9 $ 13.4 Cash received from stock option exercises 53.8 60.9 19.7 Tax benefit related to stock award exercises 3.8 3.8 2.4 Stock-based compensation 13.0 15.1 13.2 Tax benefit related to stock-based compensation 1.6 1.9 1.9
Stock Option Activity	The summary of options as of December 31, 2020 and changes during the year then ended are presented below: PER SHARE REMAINING AGGREGATE NUMBER EXERCISE CONTRACTUAL INTRINSIC OF SHARES PRICE* LIFE IN YEARS* VALUE Options outstanding at January 1 3,488,300 $ 60.18 Granted 641,700 76.18 Exercised (949,900 ) 56.68 Cancelled (63,600 ) 69.75 Options outstanding at December 31 3,116,500 $ 64.34 6.48 $ 68.4 Vested and expected to vest 3,014,300 $ 64.06 6.40 $ 67.0 Exercisable 1,323,200 $ 56.63 4.15 $ 39.2 * Weighted Average
Nonvested Restricted Shares Activity	The summary of nonvested restricted shares as of December 31, 2020 and changes during the year then ended is presented below: NUMBER GRANT DATE NONVESTED SHARES OF SHARES FAIR VALUE* Nonvested awards outstanding at January 1 150,500 $ 65.92 Granted 94,400 76.78 Vested (96,700 ) 69.46 Forfeited (5,800 ) 71.47 Nonvested awards outstanding at December 31 142,400 $ 70.49 *
Dilutive and Antidilutive Options	The dilutive and antidilutive options are shown separately in the table below: Year Ended December 31, 2020 2019 2018 Additional shares 607,800 621,300 785,100 Antidilutive options 686,100 1,489,400 1,176,600

Segment and Related Informati_2

Segment and Related Information (Tables)	12 Months Ended
	Dec. 31, 2020
Segment Reporting [Abstract]
Geographic Area Data	Geographic Area Data 2020 2019 2018 Net sales and revenues: United States $ 10,526.6 $ 15,119.3 $ 13,165.7 Europe 4,871.2 6,104.7 6,071.9 Other 3,330.7 4,375.7 4,258.1 $ 18,728.5 $ 25,599.7 $ 23,495.7 Property, plant and equipment, net: United States $ 1,633.0 $ 1,556.4 $ 1,353.8 Belgium 596.2 395.7 237.4 The Netherlands 499.0 399.8 397.8 Other 542.2 531.9 491.9 $ 3,270.4 $ 2,883.8 $ 2,480.9 Equipment on operating leases, net: United States $ 1,219.0 $ 1,390.1 $ 1,405.1 Poland 359.4 343.5 327.8 France 349.7 315.0 246.8 Germany 346.4 358.3 361.0 Spain 310.8 276.1 249.8 Mexico 302.3 320.5 306.4 United Kingdom 125.4 113.6 130.3 Other 571.7 531.0 614.4 $ 3,584.7 $ 3,648.1 $ 3,641.6
Segment Reporting Information by Segment	Business Segment Data 2020 2019 2018 Net sales and revenues: Truck $ 13,643.0 $ 20,403.5 $ 18,863.1 Less intersegment (478.2 ) (414.0 ) (676.1 ) External customers 13,164.8 19,989.5 18,187.0 Parts 3,962.7 4,073.1 3,896.2 Less intersegment (49.8 ) (48.2 ) (57.3 ) External customers 3,912.9 4,024.9 3,838.9 Other 76.6 105.3 112.7 17,154.3 24,119.7 22,138.6 Financial Services 1,574.2 1,480.0 1,357.1 $ 18,728.5 $ 25,599.7 $ 23,495.7 Income (loss) before income taxes: Truck $ 581.4 $ 1,904.9 $ 1,672.1 Parts 799.3 830.8 768.6 Other 18.2 (17.7 ) 2.7 1,398.9 2,718.0 2,443.4 Financial Services 223.1 298.9 305.9 Investment income 35.9 82.3 60.9 $ 1,657.9 $ 3,099.2 $ 2,810.2 Depreciation and amortization: Truck $ 292.2 $ 381.9 $ 406.2 Parts 10.8 10.2 9.2 Other 20.8 20.3 18.4 323.8 412.4 433.8 Financial Services 725.2 664.9 620.3 $ 1,049.0 $ 1,077.3 $ 1,054.1 Expenditures for long-lived assets: Truck $ 556.0 $ 664.9 $ 778.5 Parts 18.4 46.2 29.4 Other 36.4 51.0 38.8 610.8 762.1 846.7 Financial Services 1,046.7 1,378.6 1,085.1 $ 1,657.5 $ 2,140.7 $ 1,931.8 Segment assets: Truck $ 5,971.9 $ 5,609.0 $ 5,347.3 Parts 1,255.6 1,172.1 1,090.9 Other 398.7 339.2 345.0 Cash and marketable securities 4,834.0 5,169.4 4,299.6 12,460.2 12,289.7 11,082.8 Financial Services 15,799.8 16,071.4 14,399.6 $ 28,260.0 $ 28,361.1 $ 25,482.4

Quarterly Results (Unaudited) (

Quarterly Results (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract]
Quarterly Results (Unaudited)	QUARTER FIRST SECOND THIRD FOURTH (millions, except per share data) 2020 Truck, Parts and Other: Net sales and revenues $ 4,778.0 $ 2,701.9 $ 4,538.4 $ 5,136.0 Cost of sales and revenues 4,189.6 2,441.5 3,958.3 4,487.0 Research and development 71.0 66.5 64.7 71.7 Financial Services: Revenues 383.7 360.3 397.6 432.6 Interest and other borrowing expenses 56.4 46.9 45.2 43.6 Depreciation and other expenses 229.4 224.1 262.5 292.0 Net Income 359.4 147.7 385.5 405.8 Net Income Per Share:* Basic $ 1.04 $ .43 $ 1.11 $ 1.17 Diluted 1.03 .43 1.11 1.17 2019 Truck, Parts and Other: Net sales and revenues $ 6,138.1 $ 6,266.5 $ 6,004.2 $ 5,710.9 Cost of sales and revenues 5,217.1 5,341.7 5,106.8 4,890.0 Research and development 78.3 82.5 82.2 83.6 Financial Services: Revenues 349.5 361.4 362.8 406.3 Interest and other borrowing expenses 53.4 60.0 59.6 57.5 Depreciation and other expenses 177.4 183.6 195.3 241.9 Net Income 629.0 619.7 607.9 531.3 Net Income Per Share: Basic $ 1.81 $ 1.79 $ 1.75 $ 1.53 Diluted 1.81 1.78 1.75 1.53 * The sum of quarterly per share amounts may not equal per share amounts reported for year-to-date periods. This is due to changes in the number of weighted shares outstanding and the effects of rounding for each period.

Significant Accounting Polici_4

Significant Accounting Policies - Additional Information (Detail)	3 Months Ended								12 Months Ended
	Dec. 31, 2020USD ($)	Sep. 30, 2020USD ($)	Jun. 30, 2020USD ($)	Mar. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Sep. 30, 2019USD ($)	Jun. 30, 2019USD ($)	Mar. 31, 2019USD ($)	Dec. 31, 2020USD ($)Segment	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Accounting Policies [Abstract]
Reportable segments | Segment									3
Term used to calculate historical weighted average return rate									7 years
Estimated value of trucks to be returned	$ 627,900,000				$ 473,000,000				$ 627,900,000	$ 473,000,000
Estimated sales returned liabilities									664,100,000	503,400,000
Payment to acquire commitment value									1,184,700,000
Deferred revenue	795,800,000				801,400,000				795,800,000	801,400,000
Estimated value of returned goods	62,200,000				56,300,000				$ 62,200,000	56,300,000
Liquid investments maturity period									90 days
Goodwill	118,800,000				109,100,000				$ 118,800,000	109,100,000
Derivative assets	$ 20,500,000				56,300,000				$ 20,500,000	56,300,000
ASU 2016-13
Accounting Policies [Abstract]
Change in accounting principle, accounting standards update, adopted [true false]	true								true
Change in accounting principle, accounting standards update adoption date	Jan. 1, 2020								Jan. 1, 2020
ASU 2020-04
Accounting Policies [Abstract]
Change in accounting principle, accounting standards update, adopted [true false]	true								true
Change in accounting principle, accounting standards update adoption date	Oct. 1, 2020								Oct. 1, 2020
Change in accounting principle, accounting standards update, immaterial effect [true false]	true								true
ASU 2018-13
Accounting Policies [Abstract]
Change in accounting principle, accounting standards update, adopted [true false]	true								true
Change in accounting principle, accounting standards update adoption date	Jan. 1, 2020								Jan. 1, 2020
Change in accounting principle, accounting standards update, immaterial effect [true false]	true								true
ASU 2018-15
Accounting Policies [Abstract]
Change in accounting principle, accounting standards update, adopted [true false]	true								true
Change in accounting principle, accounting standards update adoption date	Jan. 1, 2020								Jan. 1, 2020
Change in accounting principle, accounting standards update, immaterial effect [true false]	true								true
ASU 2019-12
Accounting Policies [Abstract]
Change in accounting principle, accounting standards update, adopted [true false]	true								true
Change in accounting principle, accounting standards update adoption date	Jan. 1, 2020								Jan. 1, 2020
Change in accounting principle, accounting standards update, immaterial effect [true false]	true								true
ASU 2018-14
Accounting Policies [Abstract]
Change in accounting principle, accounting standards update adoption date	Jan. 1, 2021								Jan. 1, 2021
Change in accounting principle, accounting standards update, immaterial effect [true false]	true								true
Designated under hedge accounting
Accounting Policies [Abstract]
Derivative assets	$ 19,100,000				55,900,000				$ 19,100,000	55,900,000
Designated under hedge accounting | Interest-Rate Contracts | Other Assets
Accounting Policies [Abstract]
Derivative assets	20,500,000								20,500,000
Trade Receivables
Accounting Policies [Abstract]
Trade and other receivables, net	942,700,000				1,055,000,000				942,700,000	1,055,000,000
Other Receivables
Accounting Policies [Abstract]
Trade and other receivables, net	254,800,000				251,100,000				254,800,000	251,100,000
Financial Services
Accounting Policies [Abstract]
Total operating lease income									802,300,000	798,200,000
Depreciation and other expenses	292,000,000	$ 262,500,000	$ 224,100,000	$ 229,400,000	241,900,000	$ 195,300,000	$ 183,600,000	$ 177,400,000
Financing receivable, recorded investment, 90 days past due and still accruing	0				0				$ 0	$ 0
Months contractual terms extended									3 months	5 months
Financial Services | Designated under hedge accounting | Interest-Rate Contracts | Other Assets
Accounting Policies [Abstract]
Derivative assets	16,400,000				45,800,000				$ 16,400,000	$ 45,800,000
Financial Services | Operating Lease
Accounting Policies [Abstract]
Total operating lease income									802,300,000	798,200,000	$ 797,100,000
Depreciation and other expenses									776,500,000	721,600,000	$ 686,900,000
Truck, Parts and Other
Accounting Policies [Abstract]
Sales returns liabilities in estimated returns	337,300,000				226,000,000				337,300,000	226,000,000
Trade and other receivables, net	1,197,500,000				1,306,100,000				$ 1,197,500,000	$ 1,306,100,000
Trade receivable days outstanding considered past due									30 days	30 days	30 days
Allowance for credit losses for Truck, Parts and Other	600,000				600,000				$ 600,000	$ 600,000
Net charge-offs									$ 0	300,000	$ 100,000
Engines manufactured by PACCAR
Accounting Policies [Abstract]
Warranty period									2 years
Trucks | Truck Sales
Accounting Policies [Abstract]
Total operating lease income									$ 104,200,000	159,700,000	$ 152,600,000
Parts Subsegment
Accounting Policies [Abstract]
Sales returns liabilities in estimated returns	$ 142,000,000				$ 126,300,000				$ 142,000,000	$ 126,300,000
Maximum
Accounting Policies [Abstract]
Warranty period									5 years
Lease and guarantee periods (in years)									5 years
Estimated useful lives of equipment									10 years
Maximum | Financial Services
Accounting Policies [Abstract]
Operating lease term	5 years								5 years
Maximum | Financial Services | Loans and Leases
Accounting Policies [Abstract]
Contractual terms of retails loans and finance leases									5 years
Maximum | Trucks | Financial Services
Accounting Policies [Abstract]
Finance leases, lease term									5 years
Minimum
Accounting Policies [Abstract]
Warranty period									1 year
Lease and guarantee periods (in years)									3 years
Estimated useful lives of equipment									3 years
Minimum | Financial Services
Accounting Policies [Abstract]
Operating lease term	3 years								3 years
Minimum | Financial Services | Loans and Leases
Accounting Policies [Abstract]
Contractual terms of retails loans and finance leases									3 years
Minimum | Trucks | Financial Services
Accounting Policies [Abstract]
Finance leases, lease term									3 years

Summary of Cumulative Effect of

Summary of Cumulative Effect of the Changes Made for the Adoption of ASU 2016-13 (Detail) - USD ($) $ in Millions	Dec. 31, 2020	Jan. 01, 2020	Dec. 31, 2019
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Retained earnings	$ 11,005.2		$ 10,398.5
Financial Services
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Finance and other receivables, net	11,820.7	$ 12,079.8	12,086
Other assets	681.7	715.1	715
Deferred taxes and other liabilities	$ 854.6	788.7	790.2
Retained earnings		10,393.9	$ 10,398.5
Financial Services | ASU 2016-13 | Adjustments
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Finance and other receivables, net		(6.2)
Other assets		0.1
Deferred taxes and other liabilities		(1.5)
Retained earnings		$ (4.6)

Schedule of Revenues by Major S

Schedule of Revenues by Major Sources (Detail) - Truck, Parts and Other - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Entity Wide Information Revenue From External Customer [Line Items]
Total sales and revenues	$ 5,136	$ 4,538.4	$ 2,701.9	$ 4,778	$ 5,710.9	$ 6,004.2	$ 6,266.5	$ 6,138.1	$ 17,154.3	$ 24,119.7
Trucks
Entity Wide Information Revenue From External Customer [Line Items]
Total sales and revenues									13,164.8	19,989.5
Trucks | Truck Sales
Entity Wide Information Revenue From External Customer [Line Items]
Total sales and revenues									12,466.9	19,225.2
Trucks | Revenues from extended warranties, operating leases and other
Entity Wide Information Revenue From External Customer [Line Items]
Total sales and revenues									697.9	764.3
Parts Subsegment
Entity Wide Information Revenue From External Customer [Line Items]
Total sales and revenues									3,912.9	4,024.9
Parts Subsegment | Parts
Entity Wide Information Revenue From External Customer [Line Items]
Total sales and revenues									3,803.3	3,912.1
Parts Subsegment | Revenues from dealer services and other
Entity Wide Information Revenue From External Customer [Line Items]
Total sales and revenues									109.6	112.8
Winch Sales and Other
Entity Wide Information Revenue From External Customer [Line Items]
Total sales and revenues									$ 76.6	$ 105.3

Summary of Financial Services L

Summary of Financial Services Lease Revenues by Lease Type (Detail) - Financial Services - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Entity Wide Information Revenue From External Customer [Line Items]
Finance lease revenues	$ 189.2	$ 199.7
Operating lease revenues	802.3	798.2
Total lease revenues	$ 991.5	$ 997.9

Marketable Debt Securities (Det

Marketable Debt Securities (Detail) - Truck, Parts and Other - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	$ 1,409.7	$ 1,154
Unrealized Gains	19.4	8.6
Unrealized Losses	0.1	0.5
Fair Value	1,429	1,162.1
U.S. tax-exempt securities
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	388.1	318.1
Unrealized Gains	4.4	2.2
Unrealized Losses	0.1	0.1
Fair Value	392.4	320.2
U.S. corporate securities
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	229.6	163.8
Unrealized Gains	3.3	1.9
Fair Value	232.9	165.7
U.S. government and agency securities
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	92.1	128.4
Unrealized Gains	2.3	0.9
Fair Value	94.4	129.3
Non-U.S. corporate securities
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	406	347.7
Unrealized Gains	5.5	2.3
Unrealized Losses		0.2
Fair Value	411.5	349.8
Non-U.S. government securities
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	77	72.3
Unrealized Gains	0.5	0.2
Unrealized Losses		0.1
Fair Value	77.5	72.4
Other debt securities
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	216.9	123.7
Unrealized Gains	3.4	1.1
Unrealized Losses		0.1
Fair Value	$ 220.3	$ 124.7

Investments in Marketable Deb_3

Investments in Marketable Debt Securities - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Schedule Of Available For Sale Securities [Line Items]
Allowance for credit losses	$ 0	$ 0
VRDOs
Schedule Of Available For Sale Securities [Line Items]
Marketable debt securities	0	49,700,000
Truck, Parts and Other
Schedule Of Available For Sale Securities [Line Items]
Gross realized gains from sales of marketable debt securities	2,700,000	1,300,000	$ 1,100,000
Gross realized loss from sales of marketable debt securities	300,000	400,000	$ 800,000
Allowance for credit losses	0	0
Marketable debt securities	$ 1,429,000,000	$ 1,162,100,000

Marketable Debt Securities Cont

Marketable Debt Securities Continuous Unrealized Losses (Detail) - Truck, Parts and Other - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Schedule Of Available For Sale Securities [Line Items]
Less than 12 Months Fair Value	$ 81.1	$ 177
Less than 12 Months Unrealized Losses	0.1	0.4
12 Months or Greater Fair value	$ 1.3	31.4
12 Months or Greater Unrealized losses		$ 0.1

Contractual Maturities of Marke

Contractual Maturities of Marketable Debt Securities (Detail) - Truck, Parts and Other - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Amortized Cost Maturities:
Within one year	$ 313.9
One to five years	1,088.6
Six to ten years	5.2
More than ten years	2
Amortized Cost	1,409.7	$ 1,154
Fair Value Maturities:
Within one year	315.7
One to five years	1,106.1
Six to ten years	5.2
More than ten years	2
Fair Value	$ 1,429	$ 1,162.1

Inventories (Detail)

Inventories (Detail) - Truck, Parts and Other - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Inventory [Line Items]
Finished products	$ 610	$ 584.6
Work in process and raw materials	801.9	754.9
Inventories, gross	1,411.9	1,339.5
Less LIFO reserve	(190)	(186.3)
Inventories, net	$ 1,221.9	$ 1,153.2

Inventories - Additional Inform

Inventories - Additional Information (Detail)	Dec. 31, 2020	Dec. 31, 2019
Truck, Parts and Other
Inventory [Line Items]
Percentage of inventories valued using LIFO method of accounting	42.00%	46.00%

Finance and Other Receivables_2

Finance and Other Receivables (Detail) - USD ($) $ in Millions		Dec. 31, 2020		Jan. 01, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Financial Services
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans		$ 5,839.1			$ 5,241.7
Finance leases		3,944.7			3,906.7
Dealer wholesale financing		2,012.4			2,907.4
Operating lease receivables and other		151.5			142.6
Finance and other receivables, net of deferred income		11,947.7			12,198.4
Less allowance for losses		(127)	[1]		(112.4)	$ (113.8)	$ (117.2)
Finance and other receivables, net		11,820.7		$ 12,079.8	12,086
Loans and Leases
Accounts, Notes, Loans and Financing Receivable [Line Items]
Less allowance for losses		(120.4)			(104.4)
Dealer | Wholesale
Accounts, Notes, Loans and Financing Receivable [Line Items]
Less allowance for losses		(3.4)			(4.3)
Dealer | Wholesale | Financial Services
Accounts, Notes, Loans and Financing Receivable [Line Items]
Less allowance for losses		(3.4)			(4.3)	(6.8)	(6)
Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Less allowance for losses		(3.2)			(3.7)
Other | Financial Services
Accounts, Notes, Loans and Financing Receivable [Line Items]
Less allowance for losses	[2]	$ (3.2)			$ (3.7)	$ (3.2)	$ (9.3)
[1]	The beginning balance has been adjusted for the adoption of ASU 2016-13.
[2]	Operating lease and other trade receivables.

Finance and Other Receivables -

Finance and Other Receivables - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accrued interest receivable	$ 35.6	$ 29.5
Loans accounted for as troubled debt restructurings	63.1	14.1
TDRs subsequently defaulted, amount	4.1
TDRs charged-off during the period	2
Repossessed inventory	19.3	25.6
Proceeds from the sales of repossessed assets	$ 85.6	$ 62.4	$ 75.8
Financial Services | Financing Receivable | Maximum | Credit Concentration Risk
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of portfolio assets	5.00%
Financial Services | Dealer | Wholesale
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable repayment period	1 year

Annual Minimum Payments Due on

Annual Minimum Payments Due on Loans (Detail) - Financial Services - Loans Receivable $ in Millions	Dec. 31, 2020USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
2021	$ 1,758.4
2022	1,480.1
2023	1,223.6
2024	881.8
2025	380
Thereafter	115.2
Loans Receivables	$ 5,839.1

Annual Minimum Payments Due o_2

Annual Minimum Payments Due on Finance Lease Receivables and a Reconciliation of the Undiscounted Cash Flows to the Net Investment in Finance Leases (Detail) - Finance Leases Financing Receivable - Finance Leases $ in Millions	Dec. 31, 2020USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
2021	$ 1,310.4
2022	1,030.5
2023	775
2024	458.8
2025	223.4
Thereafter	82.5
Financing lease receivable	3,880.6
Unguaranteed residual values	458.8
Unearned interest on finance leases	(394.7)
Finance leases	$ 3,944.7

Allowance for Credit Losses (De

Allowance for Credit Losses (Detail) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2020		Dec. 31, 2019	Dec. 31, 2018
Financing Receivable, Allowance for Credit Losses [Line Items]
Provision for losses		$ 28.8		$ 15.4	$ 16.5
Dealer | Wholesale
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning Balance		4.3
Ending Balance		3.4		4.3
Other
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning Balance		3.7
Ending Balance		3.2		3.7
Financial Services
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning Balance		112.4		113.8	117.2
Provision for losses		28.8	[1]	15.4	16.5
Charge-offs		(28)	[1]	(28.4)	(27.5)
Recoveries		5.7	[1]	11	10.3
Currency translation and other		1.9	[1]	0.6	(2.7)
Ending Balance		127	[1]	112.4	113.8
Financial Services | ASU 2016-13
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning Balance	[1]	118.6
Ending Balance	[1]			118.6
Financial Services | Dealer | Wholesale
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning Balance		4.3		6.8	6
Provision for losses		(1)		(1.6)	1
Charge-offs				(0.6)
Currency translation and other		0.1		(0.3)	(0.2)
Ending Balance		3.4		4.3	6.8
Financial Services | Dealer | Wholesale | ASU 2016-13
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning Balance		4.3
Ending Balance				4.3
Financial Services | Dealer | Retail
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning Balance		9.2		10	9.4
Provision for losses		(0.8)		(1)	0.7
Currency translation and other				0.2	(0.1)
Ending Balance		8.4		9.2	10
Financial Services | Dealer | Retail | ASU 2016-13
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning Balance		9.2
Ending Balance				9.2
Financial Services | Customer Retail
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning Balance		95.2		93.8	92.5
Provision for losses		30.1		14.2	13.6
Charge-offs		(26.6)		(24.2)	(20)
Recoveries		5.3		10.7	9.9
Currency translation and other		1.8		0.7	(2.2)
Ending Balance		112		95.2	93.8
Financial Services | Customer Retail | ASU 2016-13
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning Balance		101.4
Ending Balance				101.4
Financial Services | Other
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning Balance	[2]	3.7		3.2	9.3
Provision for losses	[2]	0.5		3.8	1.2
Charge-offs	[2]	(1.4)		(3.6)	(7.5)
Recoveries	[2]	0.4		0.3	0.4
Currency translation and other	[2]				(0.2)
Ending Balance	[2]	3.2		3.7	$ 3.2
Financial Services | Other | ASU 2016-13
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning Balance	[2]	$ 3.7
Ending Balance	[2]			$ 3.7
[1]	The beginning balance has been adjusted for the adoption of ASU 2016-13.
[2]	Operating lease and other trade receivables.

Finance Receivable Evaluated an

Finance Receivable Evaluated and Determined Individually and Collectively (Detail) - Financial Services - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Financing Receivable, Allowance for Credit Losses [Line Items]
Amortized cost basis for impaired finance receivables evaluated individually	$ 87.9	$ 49.9
Allowance for impaired finance receivables determined individually	5.6	6.5
Amortized cost basis for finance receivables evaluated collectively	11,708.3	12,005.9
Allowance for finance receivables determined collectively	118.2	102.2
Dealer | Wholesale
Financing Receivable, Allowance for Credit Losses [Line Items]
Amortized cost basis for finance receivables evaluated collectively	2,012.4	2,907.4
Allowance for finance receivables determined collectively	3.4	4.3
Dealer | Retail
Financing Receivable, Allowance for Credit Losses [Line Items]
Amortized cost basis for impaired finance receivables evaluated individually	1.2	2.3
Amortized cost basis for finance receivables evaluated collectively	1,701.9	1,643.3
Allowance for finance receivables determined collectively	8.4	9.2
Customer Retail
Financing Receivable, Allowance for Credit Losses [Line Items]
Amortized cost basis for impaired finance receivables evaluated individually	86.7	47.6
Allowance for impaired finance receivables determined individually	5.6	6.5
Amortized cost basis for finance receivables evaluated collectively	7,994	7,455.2
Allowance for finance receivables determined collectively	$ 106.4	$ 88.7

Amortized Cost Basis for Financ

Amortized Cost Basis for Finance Receivables that are on Non-accrual Status (Detail) - Financial Services - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Financing Receivable, Recorded Investment, Past Due [Line Items]
Amortized cost basis for finance receivables that are on non-accrual status	$ 87.9	$ 49.7
Dealer | Retail
Financing Receivable, Recorded Investment, Past Due [Line Items]
Amortized cost basis for finance receivables that are on non-accrual status	1.2	2.3
Customer Retail | Fleet
Financing Receivable, Recorded Investment, Past Due [Line Items]
Amortized cost basis for finance receivables that are on non-accrual status	78.6	40.2
Customer Retail | Owner/Operator
Financing Receivable, Recorded Investment, Past Due [Line Items]
Amortized cost basis for finance receivables that are on non-accrual status	$ 8.1	$ 7.2

Summary of Impaired Loans (Deta

Summary of Impaired Loans (Detail) - Financial Services - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Financing Receivable, Impaired [Line Items]
Impaired loans with a specific reserve	$ 24.7	$ 14
Associated allowance	(1.9)	(2.7)
Net carrying amount of impaired loans with specific reserve	22.8	11.3
Impaired loans with no specific reserve	1.2	9.4
Net carrying amount of impaired loans	24	20.7
Average amortized cost basis	30.9	27.3
Dealer | Wholesale
Financing Receivable, Impaired [Line Items]
Average amortized cost basis		4.9
Dealer | Retail
Financing Receivable, Impaired [Line Items]
Impaired loans with no specific reserve	1.2	2.3
Net carrying amount of impaired loans	1.2	2.3
Average amortized cost basis	1.6	2.4
Customer Retail | Fleet
Financing Receivable, Impaired [Line Items]
Impaired loans with a specific reserve	22.6	10.9
Associated allowance	(1.6)	(2.1)
Net carrying amount of impaired loans with specific reserve	21	8.8
Impaired loans with no specific reserve		6.7
Net carrying amount of impaired loans	21	15.5
Average amortized cost basis	26.5	16.6
Customer Retail | Owner/Operator
Financing Receivable, Impaired [Line Items]
Impaired loans with a specific reserve	2.1	3.1
Associated allowance	(0.3)	(0.6)
Net carrying amount of impaired loans with specific reserve	1.8	2.5
Impaired loans with no specific reserve		0.4
Net carrying amount of impaired loans	1.8	2.9
Average amortized cost basis	$ 2.8	$ 3.4

Interest Income Recognized on C

Interest Income Recognized on Cash Basis (Detail) - Financial Services - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Interest income recognized:
Interest income recognized on a cash basis	$ 1.9	$ 1.7	$ 2.2
Dealer | Retail
Interest income recognized:
Interest income recognized on a cash basis	0.2	0.2
Customer Retail | Fleet
Interest income recognized:
Interest income recognized on a cash basis	1.5	1.3	2
Customer Retail | Owner/Operator
Interest income recognized:
Interest income recognized on a cash basis	$ 0.2	$ 0.2	$ 0.2

Amortized Cost Basis of Finance

Amortized Cost Basis of Finance Receivables by Credit Quality Indicator and Portfolio Class (Detail) - Financial Services - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Financing Receivable, Recorded Investment [Line Items]
Financed Receivables, By Origination Year, Loans	$ 2,033.1
Financed Receivables, By Origination Year, 2020	3,752.9
Financed Receivables, By Origination Year, 2019	2,843
Financed Receivables, By Origination Year, 2018	1,736.5
Financed Receivables, By Origination Year, 2017	840.4
Financed Receivables, By Origination Year, 2016	381.5
Financed Receivables, By Origination Year, Prior	208.8
Finance Receivables, Total	11,796.2	$ 12,055.8
Dealer
Financing Receivable, Recorded Investment [Line Items]
Financed Receivables, By Origination Year, Loans	2,033.1
Financed Receivables, By Origination Year, 2020	509.4
Financed Receivables, By Origination Year, 2019	485.4
Financed Receivables, By Origination Year, 2018	272.5
Financed Receivables, By Origination Year, 2017	181.5
Financed Receivables, By Origination Year, 2016	101.6
Financed Receivables, By Origination Year, Prior	132
Finance Receivables, Total	3,715.5
Dealer | Wholesale
Financing Receivable, Recorded Investment [Line Items]
Financed Receivables, By Origination Year, Loans	2,012.4
Finance Receivables, Total	2,012.4	2,907.4
Dealer | Wholesale | Performing
Financing Receivable, Recorded Investment [Line Items]
Financed Receivables, By Origination Year, Loans	2,004.5
Finance Receivables, Total	2,004.5
Dealer | Wholesale | Watch
Financing Receivable, Recorded Investment [Line Items]
Financed Receivables, By Origination Year, Loans	7.9
Finance Receivables, Total	7.9
Dealer | Retail
Financing Receivable, Recorded Investment [Line Items]
Financed Receivables, By Origination Year, Loans	20.7
Financed Receivables, By Origination Year, 2020	509.4
Financed Receivables, By Origination Year, 2019	485.4
Financed Receivables, By Origination Year, 2018	272.5
Financed Receivables, By Origination Year, 2017	181.5
Financed Receivables, By Origination Year, 2016	101.6
Financed Receivables, By Origination Year, Prior	132
Finance Receivables, Total	1,703.1	1,645.6
Dealer | Retail | Performing
Financing Receivable, Recorded Investment [Line Items]
Financed Receivables, By Origination Year, Loans	20.7
Financed Receivables, By Origination Year, 2020	504.2
Financed Receivables, By Origination Year, 2019	474.9
Financed Receivables, By Origination Year, 2018	268
Financed Receivables, By Origination Year, 2017	180.1
Financed Receivables, By Origination Year, 2016	100.4
Financed Receivables, By Origination Year, Prior	132
Finance Receivables, Total	1,680.3
Dealer | Retail | Watch
Financing Receivable, Recorded Investment [Line Items]
Financed Receivables, By Origination Year, 2020	5.2
Financed Receivables, By Origination Year, 2019	10.5
Financed Receivables, By Origination Year, 2018	4.5
Financed Receivables, By Origination Year, 2017	1.4
Finance Receivables, Total	21.6
Dealer | Retail | At-risk
Financing Receivable, Recorded Investment [Line Items]
Financed Receivables, By Origination Year, 2016	1.2
Finance Receivables, Total	1.2
Customer Retail
Financing Receivable, Recorded Investment [Line Items]
Financed Receivables, By Origination Year, 2020	3,243.5
Financed Receivables, By Origination Year, 2019	2,357.6
Financed Receivables, By Origination Year, 2018	1,464
Financed Receivables, By Origination Year, 2017	658.9
Financed Receivables, By Origination Year, 2016	279.9
Financed Receivables, By Origination Year, Prior	76.8
Finance Receivables, Total	8,080.7
Customer Retail | Fleet
Financing Receivable, Recorded Investment [Line Items]
Financed Receivables, By Origination Year, 2020	2,686.4
Financed Receivables, By Origination Year, 2019	1,976.4
Financed Receivables, By Origination Year, 2018	1,233.7
Financed Receivables, By Origination Year, 2017	551.8
Financed Receivables, By Origination Year, 2016	238.1
Financed Receivables, By Origination Year, Prior	67.2
Finance Receivables, Total	6,753.6	6,347.7
Customer Retail | Fleet | Performing
Financing Receivable, Recorded Investment [Line Items]
Financed Receivables, By Origination Year, 2020	2,664.9
Financed Receivables, By Origination Year, 2019	1,921.6
Financed Receivables, By Origination Year, 2018	1,203.7
Financed Receivables, By Origination Year, 2017	533.7
Financed Receivables, By Origination Year, 2016	234.2
Financed Receivables, By Origination Year, Prior	65.2
Finance Receivables, Total	6,623.3
Customer Retail | Fleet | Watch
Financing Receivable, Recorded Investment [Line Items]
Financed Receivables, By Origination Year, 2020	13.5
Financed Receivables, By Origination Year, 2019	17.8
Financed Receivables, By Origination Year, 2018	11.8
Financed Receivables, By Origination Year, 2017	5.9
Financed Receivables, By Origination Year, 2016	1.5
Financed Receivables, By Origination Year, Prior	1.2
Finance Receivables, Total	51.7
Customer Retail | Fleet | At-risk
Financing Receivable, Recorded Investment [Line Items]
Financed Receivables, By Origination Year, 2020	8
Financed Receivables, By Origination Year, 2019	37
Financed Receivables, By Origination Year, 2018	18.2
Financed Receivables, By Origination Year, 2017	12.2
Financed Receivables, By Origination Year, 2016	2.4
Financed Receivables, By Origination Year, Prior	0.8
Finance Receivables, Total	78.6
Customer Retail | Owner/Operator
Financing Receivable, Recorded Investment [Line Items]
Financed Receivables, By Origination Year, 2020	557.1
Financed Receivables, By Origination Year, 2019	381.2
Financed Receivables, By Origination Year, 2018	230.3
Financed Receivables, By Origination Year, 2017	107.1
Financed Receivables, By Origination Year, 2016	41.8
Financed Receivables, By Origination Year, Prior	9.6
Finance Receivables, Total	1,327.1	$ 1,155.1
Customer Retail | Owner/Operator | Performing
Financing Receivable, Recorded Investment [Line Items]
Financed Receivables, By Origination Year, 2020	554.6
Financed Receivables, By Origination Year, 2019	376.4
Financed Receivables, By Origination Year, 2018	225.1
Financed Receivables, By Origination Year, 2017	105.2
Financed Receivables, By Origination Year, 2016	41.2
Financed Receivables, By Origination Year, Prior	9.1
Finance Receivables, Total	1,311.6
Customer Retail | Owner/Operator | Watch
Financing Receivable, Recorded Investment [Line Items]
Financed Receivables, By Origination Year, 2020	1.6
Financed Receivables, By Origination Year, 2019	2.7
Financed Receivables, By Origination Year, 2018	2
Financed Receivables, By Origination Year, 2017	0.7
Financed Receivables, By Origination Year, 2016	0.2
Financed Receivables, By Origination Year, Prior	0.2
Finance Receivables, Total	7.4
Customer Retail | Owner/Operator | At-risk
Financing Receivable, Recorded Investment [Line Items]
Financed Receivables, By Origination Year, 2020	0.9
Financed Receivables, By Origination Year, 2019	2.1
Financed Receivables, By Origination Year, 2018	3.2
Financed Receivables, By Origination Year, 2017	1.2
Financed Receivables, By Origination Year, 2016	0.4
Financed Receivables, By Origination Year, Prior	0.3
Finance Receivables, Total	$ 8.1

Financing Receivables by Aging

Financing Receivables by Aging Category (Detail) - Financial Services - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing receivables, current and up to 30 days past due	$ 11,748.5	$ 11,990.8
Finance Receivables, Total	11,796.2	12,055.8
31 - 60 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing receivables, past due	18.8	31.7
Greater than 60 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing receivables, past due	28.9	33.3
Dealer
Financing Receivable, Recorded Investment, Past Due [Line Items]
Finance Receivables, Total	3,715.5
Dealer | Wholesale
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing receivables, current and up to 30 days past due	2,012.4	2,907.4
Finance Receivables, Total	2,012.4	2,907.4
Dealer | Retail
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing receivables, current and up to 30 days past due	1,703.1	1,645.6
Finance Receivables, Total	1,703.1	1,645.6
Customer Retail
Financing Receivable, Recorded Investment, Past Due [Line Items]
Finance Receivables, Total	8,080.7
Customer Retail | Fleet
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing receivables, current and up to 30 days past due	6,718.3	6,297.1
Finance Receivables, Total	6,753.6	6,347.7
Customer Retail | Owner/Operator
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing receivables, current and up to 30 days past due	1,314.7	1,140.7
Finance Receivables, Total	1,327.1	1,155.1
Customer Retail | 31 - 60 days past due | Fleet
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing receivables, past due	12.3	23
Customer Retail | 31 - 60 days past due | Owner/Operator
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing receivables, past due	6.5	8.7
Customer Retail | Greater than 60 days past due | Fleet
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing receivables, past due	23	27.6
Customer Retail | Greater than 60 days past due | Owner/Operator
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing receivables, past due	$ 5.9	$ 5.7

Pre- and Post-Modification Amor

Pre- and Post-Modification Amortized Cost Basis Balances for Finance Receivables Modified by Portfolio Class (Detail) - Financial Services - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Financing Receivable, Modifications [Line Items]
Pre-Modification, Amortized Cost Basis	$ 74.7	$ 2.5
Post-Modification, Amortized Cost Basis	74.7	2.5
Customer Retail | Fleet
Financing Receivable, Modifications [Line Items]
Pre-Modification, Amortized Cost Basis	72.5	2.2
Post-Modification, Amortized Cost Basis	72.5	2.2
Customer Retail | Owner/Operator
Financing Receivable, Modifications [Line Items]
Pre-Modification, Amortized Cost Basis	2.2	0.3
Post-Modification, Amortized Cost Basis	$ 2.2	$ 0.3

Equipment on Operating Leases f

Equipment on Operating Leases for Truck and Other Segment and for Financial Services Segment (Detail) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Property Subject to or Available for Operating Lease [Line Items]
Total	$ 3,584.7	$ 3,648.1	$ 3,641.6
Truck, Parts and Other
Property Subject to or Available for Operating Lease [Line Items]
Equipment on operating leases	576.8	706.3
Less allowance for depreciation	(154.9)	(160.8)
Total	421.9	545.5
Financial Services
Property Subject to or Available for Operating Lease [Line Items]
Equipment on operating leases	4,493.9	4,350
Less allowance for depreciation	(1,331.1)	(1,247.4)
Total	$ 3,162.8	$ 3,102.6

Equipment on Operating Leases -

Equipment on Operating Leases - Additional Information (Detail) $ in Millions	Dec. 31, 2020USD ($)
Property Subject to or Available for Operating Lease [Line Items]
Minimum lease payments receivable for operating leases, in 2021	$ 13.7
Minimum lease payments receivable for operating leases, in 2022	10.6
Minimum lease payments receivable for operating leases, in 2023	5.8
Minimum lease payments receivable for operating leases, in 2024	3.2
Minimum lease payments receivable for operating leases, in 2025	2.4
Minimum lease payments receivable for operating leases, thereafter	6
Financial Services
Property Subject to or Available for Operating Lease [Line Items]
Minimum lease payments receivable for operating leases, in 2021	668.2
Minimum lease payments receivable for operating leases, in 2022	451.8
Minimum lease payments receivable for operating leases, in 2023	252.8
Minimum lease payments receivable for operating leases, in 2024	104.3
Minimum lease payments receivable for operating leases, in 2025	35
Minimum lease payments receivable for operating leases, thereafter	5.1
Truck, Parts and Other
Property Subject to or Available for Operating Lease [Line Items]
Annual amortization of deferred lease revenues, in 2021	53.6
Annual amortization of deferred lease revenues, in 2022	24.6
Annual amortization of deferred lease revenues, in 2023	12.1
Annual amortization of deferred lease revenues, in 2024	8.5
Annual amortization of deferred lease revenues, in 2025	0.2
Annual amortization of deferred lease revenues, thereafter	0
Annual maturities of the residual value guarantees, in 2021	179.8
Annual maturities of the residual value guarantees, in 2022	82.4
Annual maturities of the residual value guarantees, in 2023	54.2
Annual maturities of the residual value guarantees, in 2024	15.9
Annual maturities of the residual value guarantees, in 2025	15.2
Annual maturities of the residual value guarantees, thereafter	$ 10.9

Residual Value Obligation and D

Residual Value Obligation and Deferred Lease Revenue (Detail) - Truck, Parts and Other - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Property Subject to or Available for Operating Lease [Line Items]
Residual value guarantees	$ 358.4	$ 439.6
Deferred lease revenues	99	147.7
Residual value guarantees and deferred revenues, Total	$ 457.4	$ 587.3

Property, Plant and Equipment_2

Property, Plant and Equipment (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Property, Plant and Equipment [Line Items]
Property, plant and equipment, net	$ 3,270.4	$ 2,883.8	$ 2,480.9
Truck, Parts and Other
Property, Plant and Equipment [Line Items]
Land	286.4	271.8
Buildings and improvements	1,474.7	1,382.2
Machinery, equipment and production tooling	4,234.4	3,998.2
Construction in progress	1,081.8	741.7
Property, Plant and Equipment, Gross, Total	7,077.3	6,393.9
Less allowance for depreciation	(3,806.9)	(3,510.1)
Property, plant and equipment, net	$ 3,270.4	$ 2,883.8
Truck, Parts and Other | Minimum | Building and Building Improvements
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	10 years
Truck, Parts and Other | Minimum | Machinery Equipment And Production Tooling
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	3 years
Truck, Parts and Other | Maximum | Building and Building Improvements
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	40 years
Truck, Parts and Other | Maximum | Machinery Equipment And Production Tooling
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	12 years

Accounts Payable, Accrued Exp_3

Accounts Payable, Accrued Expenses and Other (Detail) - Truck, Parts and Other - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Accounts Payable and Accrued Liabilities [Line Items]
Accounts payable	$ 1,176.2	$ 1,115.7
Product support liabilities	514.6	508.1
Accrued expenses	446.5	467.4
Right-of-return liabilities	337.3	226
Accrued capital expenditures	288.8	270.3
Salaries and wages	260.8	271.8
Other	389.7	334.9
Accounts payable, accrued expenses and other	$ 3,413.9	$ 3,194.2

Changes in Product Support Liab

Changes in Product Support Liabilities (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
WARRANTY RESERVES
Beginning balance	$ 440
Ending balance	389.7	$ 440
Truck, Parts and Other
WARRANTY RESERVES
Beginning balance	440	380.2	$ 298.8
Cost accruals	295	386.3	331.9
Payments	(437.2)	(343.7)	(271.8)
Change in estimates for pre-existing warranties	84.1	19.8	25.6
Currency translation and other	7.8	(2.6)	(4.3)
Ending balance	389.7	440	380.2
DEFERRED REVENUES ON EXTENDED WARRANTIES AND R&M CONTRACTS
Beginning balance	801.4	699.9	653.9
Deferred revenues	409.9	499.1	448.2
Revenues recognized	(438.9)	(396.4)	(385)
Currency translation	23.4	(1.2)	(17.2)
Ending balance	$ 795.8	$ 801.4	$ 699.9

Product Support Liabilities - A

Product Support Liabilities - Additional Information (Detail) $ in Millions	Dec. 31, 2020USD ($)
Product Warranties Disclosures [Abstract]
Deferred revenues on extended warranties and R&M recognize, in 2021	$ 272.3
Deferred revenues on extended warranties and R&M recognize, in 2022	251.8
Deferred revenues on extended warranties and R&M recognize, in 2023	162.3
Deferred revenues on extended warranties and R&M recognize, in 2024	74.6
Deferred revenues on extended warranties and R&M recognize, in 2025	25.4
Deferred revenues on extended warranties and R&M recognize, thereafter	$ 9.4

Product Support Liabilities (De

Product Support Liabilities (Detail) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Product Liability Contingency [Line Items]
Warranty Reserves	$ 389.7	$ 440
Deferred Revenues	795.8	801.4
Truck, Parts and Other
Product Liability Contingency [Line Items]
Warranty Reserves	389.7	440	$ 380.2	$ 298.8
Truck, Parts and Other | Accounts payable, accrued expenses and other
Product Liability Contingency [Line Items]
Warranty Reserves	245.6	270.6
Deferred Revenues	269	237.5
Truck, Parts and Other | Other liabilities
Product Liability Contingency [Line Items]
Warranty Reserves	144.1	169.4
Deferred Revenues	513.1	547.6
Financial Services | Accounts payable, accrued expenses and other
Product Liability Contingency [Line Items]
Deferred Revenues	5.7	6.8
Financial Services | Deferred Taxes and Other Liabilities
Product Liability Contingency [Line Items]
Deferred Revenues	$ 8	$ 9.5

Financial Services Borrowings (

Financial Services Borrowings (Detail) - Financial Services - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Effective Rate	1.40%	1.90%
Commercial paper	$ 3,113.5	$ 3,797.2
Bank loans	230.9	313
Commercial paper and bank loans	3,344.4	4,110.2
Term notes	7,508.9	7,112.5
Commercial Paper, Bank Loans, and Term Debt at Carrying Value, Total	$ 10,853.3	$ 11,222.7
Commercial Paper
Debt Instrument [Line Items]
Effective Rate	0.40%	1.50%
Bank Loans
Debt Instrument [Line Items]
Effective Rate	5.90%	7.10%
Term Loan
Debt Instrument [Line Items]
Effective Rate	1.70%	1.90%

Borrowings and Credit Arrange_3

Borrowings and Credit Arrangements - Additional Information (Detail) $ in Millions	1 Months Ended	12 Months Ended
	Apr. 30, 2016MXN ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Feb. 19, 2021USD ($)	Dec. 31, 2020EUR (€)	Dec. 31, 2020MXN ($)
Debt Disclosure [Line Items]
Interest paid on borrowings		$ 164.5	$ 203.8	$ 166.5
Line of credit, maximum capacity		3,523.1
Line of credit, unused borrowing capacity		3,292.2
Syndicated loan facility
Debt Disclosure [Line Items]
Line of credit, maximum capacity		3,000
Line of credit, outstanding amount		0
Expires in June 2019 | Syndicated loan facility
Debt Disclosure [Line Items]
Line of credit, maximum capacity		$ 1,000
Line of credit, expiry date		2021-06
Expires in June 2022 | Syndicated loan facility
Debt Disclosure [Line Items]
Line of credit, maximum capacity		$ 1,000
Line of credit, expiry date		2023-06
Expires in June 2023 | Syndicated loan facility
Debt Disclosure [Line Items]
Line of credit, maximum capacity		$ 1,000
Line of credit, expiry date		2024-06
PACCAR's U.S. finance subsidiary | Medium-term Notes
Debt Disclosure [Line Items]
Debt outstanding		$ 6,000
Registration expiration		2021-11
PACCAR's U.S. finance subsidiary | Subsequent Event | Medium-term Notes
Debt Disclosure [Line Items]
Debt outstanding					$ 400
PACCAR's European finance subsidiary | Medium-term Notes
Debt Disclosure [Line Items]
Debt, unused borrowing capacity | €						€ 1,600,000,000
Debt, borrowing capacity | €						€ 2,500,000,000
Debt, renewal period		This program replaced an expiring program in the second quarter of 2020 and is renewable annually through the filing of a new listing.
PACCAR's Mexico finance subsidiary | Commercial Paper
Debt Disclosure [Line Items]
Maximum limit of borrowing capacity	$ 5,000,000,000
PACCAR's Mexico finance subsidiary | Commercial Paper | Maximum
Debt Disclosure [Line Items]
Commercial paper expiration period	1 year
PACCAR's Mexico finance subsidiary | Medium-term Notes
Debt Disclosure [Line Items]
Registration expiration		2021-04
Debt, unused borrowing capacity							$ 6,842,700,000
PACCAR's Mexico finance subsidiary | Medium-term Notes | Commercial Paper
Debt Disclosure [Line Items]
Debt, borrowing capacity	$ 10,000,000,000
PACCAR's Australian subsidiary | Medium-term Notes
Debt Disclosure [Line Items]
Debt outstanding		$ 450
Financial Services
Debt Disclosure [Line Items]
Commercial paper and term notes borrowings		10,622.4	10,909.7
Fair value hedges and unamortized discounts, net		$ (12.7)	$ (20.5)

Annual Maturities of Financial

Annual Maturities of Financial Services Borrowings (Detail) - Financial Services $ in Millions	Dec. 31, 2020USD ($)
Debt Instrument [Line Items]
2021	$ 5,396
2022	2,353.5
2023	2,250.9
2024	440.5
2025	425.1
Debt, Long-term and Short-term, Combined Amount, Total	10,866
Medium-term Notes
Debt Instrument [Line Items]
2021	2,241.7
2022	2,231.9
2023	2,231.9
2024	415.4
2025	400
Debt, Long-term and Short-term, Combined Amount, Total	7,520.9
Notes Payable to Banks
Debt Instrument [Line Items]
2021	40.1
2022	121.6
2023	19
2024	25.1
2025	25.1
Debt, Long-term and Short-term, Combined Amount, Total	230.9
Commercial Paper
Debt Instrument [Line Items]
2021	3,114.2
Debt, Long-term and Short-term, Combined Amount, Total	$ 3,114.2

Schedule of Components of Lease

Schedule of Components of Lease Expense (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Finance lease cost
Amortization of right-of-use assets	$ 0.9	$ 0.9
Interest on lease liabilities	0.1	0.1
Operating lease cost	16.6	16.9
Short-term lease cost	0.8	0.7
Variable lease cost	1.7	1.8
Total lease cost	$ 20.1	$ 20.4

Leases - Additional Information

Leases - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Leases [Abstract]
Rental expenses	$ 20.1	$ 20.4	$ 35.7

Schedule of Balance Sheet Infor

Schedule of Balance Sheet Information Related to Leases (Detail) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
OPERATING LEASES
Total right-of-use assets	$ 39.9	$ 36.9
Total lease liabilities	40.3	37.7
FINANCE LEASES
Total right-of-use assets	1	1.1
Total lease liabilities	1	1.2
Truck, Parts and Other
OPERATING LEASES
Accounts payable, accrued expenses and other	$ 11.4	$ 13
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	us-gaap:AccountsPayableAndOtherAccruedLiabilitiesCurrent	us-gaap:AccountsPayableAndOtherAccruedLiabilitiesCurrent
Other liabilities	$ 20.3	$ 19.5
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	us-gaap:OtherLiabilitiesNoncurrent	us-gaap:OtherLiabilitiesNoncurrent
FINANCE LEASES
Accounts payable, accrued expenses and other	$ 0.5	$ 0.7
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]	us-gaap:AccountsPayableAndOtherAccruedLiabilitiesCurrent	us-gaap:AccountsPayableAndOtherAccruedLiabilitiesCurrent
Other liabilities	$ 0.5	$ 0.5
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	us-gaap:OtherLiabilitiesNoncurrent	us-gaap:OtherLiabilitiesNoncurrent
Truck, Parts and Other | Other Noncurrent Assets
OPERATING LEASES
Total right-of-use assets	$ 30.9	$ 31.7
FINANCE LEASES
Total right-of-use assets	1	1.1
Financial Services | Other Assets
OPERATING LEASES
Total right-of-use assets	9	5.2
Financial Services | Accounts Payable, Accrued Expense and Other
OPERATING LEASES
Total lease liabilities	2	1.5
Financial Services | Deferred Taxes and Other Liabilities
OPERATING LEASES
Total lease liabilities	$ 6.6	$ 3.7

Schedule of Weighted-Average Re

Schedule of Weighted-Average Remaining Lease Term and Discount Rate (Detail)	Dec. 31, 2020	Dec. 31, 2019
OPERATING LEASES
Weighted-average remaining lease term	5 years 8 months 12 days	5 years 1 month 6 days
Weighted-average discount rate	1.40%	1.90%
FINANCE LEASES
Weighted-average remaining lease term	2 years 3 months 18 days	2 years 2 months 12 days
Weighted-average discount rate	2.50%	4.00%

Schedule of Maturities of Lease

Schedule of Maturities of Lease Liabilities (Detail) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
OPERATING LEASES
2021	$ 13.7
2022	10.6
2023	5.8
2024	3.2
2025	2.4
Thereafter	6
Total lease payments	41.7
Less: interest	(1.4)
Total lease liabilities	40.3	$ 37.7
FINANCE LEASES
2021	0.6
2022	0.2
2023	0.2
2024	0.1
Total lease payments	1.1
Less: interest	(0.1)
Total lease liabilities	$ 1	$ 1.2

Schedule of Cash Flow Informati

Schedule of Cash Flow Information Related to Leases (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$ 17.2	$ 17
Operating cash flows from finance leases	0.1	0.2
Financing cash flows from finance leases	0.9	1
Right-of-use assets obtained in exchange for lease liabilities
Operating leases	19.9	8.9
Finance leases	$ 0.5	$ 0.7

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Commitments And Contingencies Disclosure [Abstract]
Standby letters of credit and surety bonds	$ 45.5
Outstanding commitments to fund new loan and lease transactions	$ 823.4
Funding commitments for loans and leases expiration period	90 days
Other commitments due in 2021	$ 127.5
Other commitments due in 2022	76.1
Other commitments due in 2023	3.4
Other commitments due in 2024	0.3
Other commitments due in 2025	0
Other commitments due in 2025 and beyond	0
Environmental activities expenditures	$ 1.9	$ 1.3	$ 1.2

Employee Benefits - Additional

Employee Benefits - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Defined Benefit Plan Disclosure [Line Items]
Severance Costs	$ 6.1	$ 5.8	$ 0.7
Metal and Electrical Engineering Industry Pension Fund
Defined Benefit Plan Disclosure [Line Items]
Actual coverage ratio percentage	97.20%
Western Metal Industry Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Contributions by the Company	15.00%	20.00%
MEASURED AT NAV | U.S. Fixed Income
Defined Benefit Plan Disclosure [Line Items]
Investments		$ 123.4
Minimum | Metal and Electrical Engineering Industry Pension Fund
Defined Benefit Plan Disclosure [Line Items]
Required coverage ratio percentage	104.30%
Maximum | Metal and Electrical Engineering Industry Pension Fund
Defined Benefit Plan Disclosure [Line Items]
Contributions by the Company	5.00%	5.00%
Maximum | Other Plans
Defined Benefit Plan Disclosure [Line Items]
Contributions by the Company	5.00%	5.00%
Defined Benefit Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Accumulated unrecognized actuarial gains and losses	10.00%
Contribution to pension plans	$ 184.9	$ 35.7
Expected pension contributions minimum funding requirements	19.7
Annual benefits expected to be paid year one	125.7
Annual benefits expected to be paid year two	109.8
Annual benefits expected to be paid year three	114.8
Annual benefits expected to be paid year four	121.2
Annual benefits expected to be paid year five	127
Annual benefits expected to be paid for the five years thereafter	726.4
Unrecognized actuarial loss amount in accumulated other comprehensive loss expected to be amortized next year	56.7
Unrecognized prior service cost amount in accumulated other comprehensive loss expected to be amortized next year	0.8
Accumulated benefit obligation for all pension plans of the Company	3,321.5	$ 2,806.3
Defined Benefit Pension Plans | Minimum
Defined Benefit Plan Disclosure [Line Items]
Expected pension contributions by the company to the pension plans in the next year	100
Defined Benefit Pension Plans | Maximum
Defined Benefit Plan Disclosure [Line Items]
Expected pension contributions by the company to the pension plans in the next year	$ 150
Defined Contribution Plans
Defined Benefit Plan Disclosure [Line Items]
Percentage match for base wages	5.00%	5.00%	5.00%
Defined contribution benefit plans expense	$ 42.5	$ 48.3	$ 45.3

Allocation of Plan Assets by In

Allocation of Plan Assets by Investments (Detail) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Schedule of Defined Benefit Plan Asset Allocation Targets [Line Items]
Plan assets	$ 3,793.4	$ 3,226.4	$ 2,699.2
Level 1
Schedule of Defined Benefit Plan Asset Allocation Targets [Line Items]
Plan assets	86.5	101.2
Level 2
Schedule of Defined Benefit Plan Asset Allocation Targets [Line Items]
Plan assets	426.2	356.6
Fair Value Inputs Level 1 And Level 2 [Member]
Schedule of Defined Benefit Plan Asset Allocation Targets [Line Items]
Plan assets	512.7	457.8
MEASURED AT NAV
Schedule of Defined Benefit Plan Asset Allocation Targets [Line Items]
Plan assets	3,280.7	2,768.6
U.S. Equities
Schedule of Defined Benefit Plan Asset Allocation Targets [Line Items]
Plan assets	1,047	860.1
U.S. Equities | MEASURED AT NAV
Schedule of Defined Benefit Plan Asset Allocation Targets [Line Items]
Plan assets	1,047	860.1
Global Equities
Schedule of Defined Benefit Plan Asset Allocation Targets [Line Items]
Plan assets	1,140.6	973.1
Global Equities | MEASURED AT NAV
Schedule of Defined Benefit Plan Asset Allocation Targets [Line Items]
Plan assets	1,140.6	973.1
Total Equities
Schedule of Defined Benefit Plan Asset Allocation Targets [Line Items]
Plan assets	$ 2,187.6	$ 1,833.2
Total Equities | Minimum
Schedule of Defined Benefit Plan Asset Allocation Targets [Line Items]
Equity funds, target	50.00%	50.00%
Total Equities | Maximum
Schedule of Defined Benefit Plan Asset Allocation Targets [Line Items]
Equity funds, target	70.00%	70.00%
Total Equities | MEASURED AT NAV
Schedule of Defined Benefit Plan Asset Allocation Targets [Line Items]
Plan assets	$ 2,187.6	$ 1,833.2
U.S. Fixed Income
Schedule of Defined Benefit Plan Asset Allocation Targets [Line Items]
Plan assets	1,099.8	962.6
U.S. Fixed Income | Level 1
Schedule of Defined Benefit Plan Asset Allocation Targets [Line Items]
Plan assets	83.9	90.6
U.S. Fixed Income | Level 2
Schedule of Defined Benefit Plan Asset Allocation Targets [Line Items]
Plan assets	296	260.3
U.S. Fixed Income | Fair Value Inputs Level 1 And Level 2 [Member]
Schedule of Defined Benefit Plan Asset Allocation Targets [Line Items]
Plan assets	379.9	350.9
U.S. Fixed Income | MEASURED AT NAV
Schedule of Defined Benefit Plan Asset Allocation Targets [Line Items]
Plan assets	719.9	611.7
Non-U.S. Fixed Income
Schedule of Defined Benefit Plan Asset Allocation Targets [Line Items]
Plan assets	403.2	350.1
Non-U.S. Fixed Income | Level 2
Schedule of Defined Benefit Plan Asset Allocation Targets [Line Items]
Plan assets	30.4	28.1
Non-U.S. Fixed Income | Fair Value Inputs Level 1 And Level 2 [Member]
Schedule of Defined Benefit Plan Asset Allocation Targets [Line Items]
Plan assets	30.4	28.1
Non-U.S. Fixed Income | MEASURED AT NAV
Schedule of Defined Benefit Plan Asset Allocation Targets [Line Items]
Plan assets	372.8	322
Total Fixed Income
Schedule of Defined Benefit Plan Asset Allocation Targets [Line Items]
Plan assets	$ 1,503	$ 1,312.7
Total Fixed Income | Minimum
Schedule of Defined Benefit Plan Asset Allocation Targets [Line Items]
Equity funds, target	30.00%	30.00%
Total Fixed Income | Maximum
Schedule of Defined Benefit Plan Asset Allocation Targets [Line Items]
Equity funds, target	50.00%	50.00%
Total Fixed Income | Level 1
Schedule of Defined Benefit Plan Asset Allocation Targets [Line Items]
Plan assets	$ 83.9	$ 90.6
Total Fixed Income | Level 2
Schedule of Defined Benefit Plan Asset Allocation Targets [Line Items]
Plan assets	326.4	288.4
Total Fixed Income | Fair Value Inputs Level 1 And Level 2 [Member]
Schedule of Defined Benefit Plan Asset Allocation Targets [Line Items]
Plan assets	410.3	379
Total Fixed Income | MEASURED AT NAV
Schedule of Defined Benefit Plan Asset Allocation Targets [Line Items]
Plan assets	1,092.7	933.7
Cash and Other
Schedule of Defined Benefit Plan Asset Allocation Targets [Line Items]
Plan assets	102.8	80.5
Cash and Other | Level 1
Schedule of Defined Benefit Plan Asset Allocation Targets [Line Items]
Plan assets	2.6	10.6
Cash and Other | Level 2
Schedule of Defined Benefit Plan Asset Allocation Targets [Line Items]
Plan assets	99.8	68.2
Cash and Other | Fair Value Inputs Level 1 And Level 2 [Member]
Schedule of Defined Benefit Plan Asset Allocation Targets [Line Items]
Plan assets	102.4	78.8
Cash and Other | MEASURED AT NAV
Schedule of Defined Benefit Plan Asset Allocation Targets [Line Items]
Plan assets	$ 0.4	$ 1.7

Weighted Average Assumptions Re

Weighted Average Assumptions Relate to All Pension Plans of Company, Except for Certain Multi-Employer and Defined Contribution Plans (Detail)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Compensation And Retirement Disclosure [Abstract]
Discount rate	2.20%	2.90%
Rate of increase in future compensation levels	3.70%	3.80%
Assumed long-term rate of return on plan assets	6.20%	6.30%

Components of Change in Project

Components of Change in Projected Benefit Obligation and Change in Plan Assets (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Change in projected benefit obligation:
Benefit obligation, beginning balance	$ 3,234.4	$ 2,655.4
Service cost	130.4	102	$ 108.3
Interest cost	83	95.6	85.8
Benefits paid	(120.2)	(127)
Actuarial loss	379.5	478
Currency translation and other	54.4	30
Participant contributions	0.4	0.4
Projected benefit obligation, ending balance	3,761.9	3,234.4	2,655.4
Change in plan assets:
Fair value of plan assets, beginning balance	3,226.4	2,699.2
Employer contributions	184.9	35.7
Actual return on plan assets	453.4	588.1
Benefits paid	(120.2)	(127)
Currency translation and other	48.5	30
Participant contributions	0.4	0.4
Fair value of plan assets, ending balance	3,793.4	3,226.4	$ 2,699.2
Funded status, ending balance	31.5	(8)
Amounts recorded on Balance Sheet:
Other noncurrent assets	222.1	146.5
Accounts payable, accrued expenses and other	25.5	39.9
Other liabilities	165.1	114.6
Accumulated other comprehensive loss:
Actuarial loss	571.7	512.5
Prior service cost	$ 6.3	5.1
Net initial transition amount		$ 0.1

Information for All Plans with

Information for All Plans with Accumulated Benefit Obligation in Excess of Plan Assets (Detail) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Defined Benefit Plan Pension Plans With Accumulated Benefit Obligations In Excess Of Plan Assets [Abstract]
Projected benefit obligation	$ 167.9	$ 170.6
Accumulated benefit obligation	148.7	150.1
Fair value of plan assets	$ 13.5	$ 23.4

Components of Pension Expense (

Components of Pension Expense (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Defined Benefit Plan Net Periodic Benefit Cost [Abstract]
Service cost	$ 130.4	$ 102	$ 108.3
Interest on projected benefit obligation	83	95.6	85.8
Expected return on assets	(190.6)	(176.6)	(177.2)
Amortization of prior service costs	1.5	1.4	1.4
Recognized actuarial loss	44.2	20.5	35.3
Settlement loss	11.6
Net pension expense	$ 80.1	$ 42.9	$ 53.6

Multi-employer Plans (Detail)

Multi-employer Plans (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Multiemployer Plans [Line Items]
Entity Tax Identification Number	91-0351110
COMPANY CONTRIBUTIONS	$ 37.8	$ 32.8	$ 31.8
Metal and Electrical Engineering Industry Pension Fund
Multiemployer Plans [Line Items]
PENSION PLAN NUMBER	135668
COMPANY CONTRIBUTIONS	$ 33.9	27.8	27.9
Western Metal Industry Pension Plan
Multiemployer Plans [Line Items]
PENSION PLAN NUMBER	001
Entity Tax Identification Number	91-6033499
COMPANY CONTRIBUTIONS	$ 3	3.8	2.7
Other Plans
Multiemployer Plans [Line Items]
COMPANY CONTRIBUTIONS	$ 0.9	$ 1.2	$ 1.2

Components of Income Before Inc

Components of Income Before Income Taxes (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Domestic	$ 1,122.9	$ 2,201.1	$ 1,775.2
Foreign	535	898.1	1,035
Income before income taxes	$ 1,657.9	$ 3,099.2	$ 2,810.2

Components of Provision for Inc

Components of Provision for Income Taxes (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Current provision:
Federal	$ 182.5	$ 352.3	$ 267.1
State	44.9	96.8	67.5
Foreign	132.6	191.4	263
Current Income Tax Expense (Benefit), Total	360	640.5	597.6
Deferred (benefit) provision:
Federal	(11.2)	40.7	22.6
State	1.7	(4.3)	1.3
Foreign	9	34.4	(6.4)
Deferred taxes	(0.5)	70.8	17.5
Income taxes	$ 359.5	$ 711.3	$ 615.1

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Taxes [Line Items]
Tax benefits recognized for net operating loss carryforwards	$ 17.8	$ 12.4	$ 5
Net operating loss carryforwards	492.2
Deferred tax asset related to operating loss carryforwards	129.2
Valuation allowance	$ 102.1	118.5
Carryforward description	The carryforward periods range from four years to indefinite, subject to certain limitations under applicable laws.
Cash paid for income taxes	$ 374	586	607.6
Unrecognized tax benefits	24.5	30.7	21.2	$ 22.9
Unrecognized tax benefits that, if recognized, would affect the effective tax rate	23.2	28.4	18.9
(Income) expense related to interest	(0.7)	0.8	(0.1)
Accrued interest expense and penalties	1.2	$ 1.9	$ 1.1
Unrecognized tax benefits resulting from research and development tax credits	$ 5.5
Internal Revenue Service (IRS)
Income Taxes [Line Items]
Tax examinations	the United States Internal Revenue Service has completed examinations of the Company’s tax returns for all years through 2014.
Net Operating Loss Carryforwards
Income Taxes [Line Items]
Valuation allowance	$ 95.6
Minimum
Income Taxes [Line Items]
Operating loss carryforwards periods	4 years
Foreign
Income Taxes [Line Items]
Net operating loss carryforwards	$ 416.2
United States
Income Taxes [Line Items]
Net operating loss carryforwards	$ 76
Other Major Jurisdictions | Earliest Tax Year
Income Taxes [Line Items]
Tax year remain subject to examination	2012
Other Major Jurisdictions | Latest Tax Year
Income Taxes [Line Items]
Tax year remain subject to examination	2020

Reconciliation of Statutory U.S

Reconciliation of Statutory U.S. Federal Tax Rate to Effective Income Tax Rate (Detail)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Statutory rate	21.00%	21.00%	21.00%
Transition tax			(0.20%)
State	2.30%	2.30%	2.20%
Research and development tax credit	(1.40%)	(0.90%)	(0.80%)
Tax on foreign earnings	0.80%	0.90%	1.00%
Other, net	(1.00%)	(0.30%)	(1.30%)
Effective income tax rate	21.70%	23.00%	21.90%

Tax Effects of Temporary Differ

Tax Effects of Temporary Differences Representing Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Assets:
Accrued expenses	$ 205.3	$ 203.5
Net operating loss and tax credit carryforwards	140.1	132
Postretirement benefit plans	0	4.9
Allowance for losses on receivables	36	31.4
Goodwill and intangibles	10	18.7
Other	122.9	103.3
Deferred Tax Assets, Gross, Total	514.3	493.8
Valuation allowance	(102.1)	(118.5)
Deferred Tax Assets, Net of Valuation Allowance, Total	412.2	375.3
Liabilities:
Financial Services leasing depreciation	(765.1)	(777.5)
Depreciation and amortization	(168)	(159.4)
Postretirement benefit plans	(3)	0
Other	(46.1)	(28.9)
Deferred Tax Liability, Total	(982.2)	(965.8)
Net deferred tax liability	$ (570)	$ (590.5)

Balance Sheet Classifications o

Balance Sheet Classifications of Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Schedule Of Deferred Income Tax Assets And Liabilities [Line Items]
Deferred Tax Liabilities	$ (570)	$ (590.5)
Truck, Parts and Other | Other Noncurrent Assets
Schedule Of Deferred Income Tax Assets And Liabilities [Line Items]
Deferred Tax Assets Net	90.4	115.4
Truck, Parts and Other | Other liabilities
Schedule Of Deferred Income Tax Assets And Liabilities [Line Items]
Deferred Tax Liabilities	(3.5)	(5.3)
Financial Services | Other Assets
Schedule Of Deferred Income Tax Assets And Liabilities [Line Items]
Deferred Tax Assets Net	46.8	36.8
Financial Services | Deferred Taxes and Other Liabilities
Schedule Of Deferred Income Tax Assets And Liabilities [Line Items]
Deferred Tax Liabilities	$ (703.7)	$ (737.4)

Reconciliation of Beginning and

Reconciliation of Beginning and Ending Amounts of Unrecognized Tax Benefits (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Balance at beginning of the year	$ 30.7	$ 21.2	$ 22.9
Additions for tax positions related to the current year	5.5	6.5	11.2
Additions for tax positions related to prior years	0.3	3
Reductions for tax positions related to prior years	(4.2)
Reductions related to settlements			(5.7)
Lapse of statute of limitations	(7.8)		(7.2)
Balance at the end of the year	$ 24.5	$ 30.7	$ 21.2

Changes in Accumulated Other Co

Changes in Accumulated Other Comprehensive Income (Loss) by Component (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	$ 9,706.1	$ 8,592.9
Reclassified out of AOCI	106.3	56.3	$ (62.6)
Net other comprehensive income (loss)	49.8	(1.6)	(271.7)
Ending balance	10,390	9,706.1	8,592.9
Derivative Contracts
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(15.3)	2	1.2
Recorded into AOCI	(78.4)	(57)	90.9
Reclassified out of AOCI	64.5	39.7	(90.5)
Net other comprehensive income (loss)	(13.9)	(17.3)	0.4
Reclassifications to retained earnings in accordance with ASU 2018-02			0.4
Ending balance	(29.2)	(15.3)	2
Marketable Debt Securities
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	6.1	(2.3)	(1.8)
Recorded into AOCI	10.3	8.7	0.1
Reclassified out of AOCI	(1.8)	(0.3)	(0.1)
Net other comprehensive income (loss)	8.5	8.4
Reclassifications to retained earnings in accordance with ASU 2018-02			(0.5)
Ending balance	14.6	6.1	(2.3)
Pension Plans
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(517.7)	(477.8)	(375.6)
Recorded into AOCI	(104)	(56.8)	(86.8)
Reclassified out of AOCI	43.6	16.9	28
Net other comprehensive income (loss)	(60.4)	(39.9)	(58.8)
Reclassifications to retained earnings in accordance with ASU 2018-02			(43.4)
Ending balance	(578.1)	(517.7)	(477.8)
Foreign Currency Translation
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(573.2)	(620.4)	(417.4)
Recorded into AOCI	115.6	47.2	(213.3)
Net other comprehensive income (loss)	115.6	47.2	(213.3)
Reclassifications to retained earnings in accordance with ASU 2018-02			10.3
Ending balance	(457.6)	(573.2)	(620.4)
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(1,100.1)	(1,098.5)	(793.6)
Recorded into AOCI	(56.5)	(57.9)	(209.1)
Reclassified out of AOCI	106.3	56.3	(62.6)
Net other comprehensive income (loss)	49.8	(1.6)	(271.7)
Reclassifications to retained earnings in accordance with ASU 2018-02			(33.2)
Ending balance	$ (1,050.3)	$ (1,100.1)	$ (1,098.5)

Reclassifications Out of Accumu

Reclassifications Out of Accumulated Other Comprehensive Income (Detail) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Accumulated Other Comprehensive Income (Loss) [Line Items]
Income before income taxes									$ (1,657.9)	$ (3,099.2)	$ (2,810.2)
Investment income									35.9	82.3	60.9
Tax (benefit) expense									359.5	711.3	615.1
Net Income (Loss)	$ (405.8)	$ (385.5)	$ (147.7)	$ (359.4)	$ (531.3)	$ (607.9)	$ (619.7)	$ (629)	(1,298.4)	(2,387.9)	(2,195.1)
Total reclassifications out of AOCI									106.3	56.3	(62.6)
Derivative Contracts
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total reclassifications out of AOCI									64.5	39.7	(90.5)
Derivative Contracts | Reclassification out of Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income (Loss) [Line Items]
Income before income taxes									87.6	51.7	(121.5)
Tax (benefit) expense									(23.1)	(12)	31
Net Income (Loss)									64.5	39.7	(90.5)
Marketable Debt Securities
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total reclassifications out of AOCI									(1.8)	(0.3)	(0.1)
Marketable Debt Securities | Reclassification out of Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income (Loss) [Line Items]
Investment income									(2.4)	(0.4)	(0.2)
Tax (benefit) expense									0.6	0.1	0.1
Net Income (Loss)									(1.8)	(0.3)	(0.1)
Pension Plans
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total reclassifications out of AOCI									43.6	16.9	28
Truck, Parts and Other
Accumulated Other Comprehensive Income (Loss) [Line Items]
Net sales and revenues	(5,136)	(4,538.4)	(2,701.9)	(4,778)	(5,710.9)	(6,004.2)	(6,266.5)	(6,138.1)	(17,154.3)	(24,119.7)
Cost of sales and revenues	4,487	3,958.3	2,441.5	4,189.6	4,890	5,106.8	5,341.7	5,217.1
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									(4)	21.2	5.4
Cost of sales and revenues									1.7	(4.1)	(6.6)
Interest and other (income), net									(4.6)	2.1	(1.6)
Truck, Parts and Other | Actuarial loss
Accumulated Other Comprehensive Income (Loss) [Line Items]
Interest and other (income), net									44.2	20.5	35.3
Truck, Parts and Other | Prior service costs
Accumulated Other Comprehensive Income (Loss) [Line Items]
Interest and other (income), net									1.5	1.4	1.4
Truck, Parts and Other | Settlement loss
Accumulated Other Comprehensive Income (Loss) [Line Items]
Interest and other (income), net									11.6
Truck, Parts and Other | Pension Plans
Accumulated Other Comprehensive Income (Loss) [Line Items]
Income before income taxes									57.3	21.9	36.7
Tax (benefit) expense									(13.7)	(5)	(8.7)
Net Income (Loss)									43.6	16.9	28
Financial Services
Accumulated Other Comprehensive Income (Loss) [Line Items]
Interest and other borrowing expenses	$ 43.6	$ 45.2	$ 46.9	$ 56.4	$ 57.5	$ 59.6	$ 60	$ 53.4
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									$ 94.5	$ 32.5	$ (118.7)

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail) - shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
TREASURY STOCK, AT COST:
Equity Class of Treasury Stock [Line Items]
Treasury stock, shares retired	700,000	1,700,000	5,800,000

Derivative Financial Instrume_3

Derivative Financial Instruments - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Fair Value Hedging
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Remaining cumulative basis adjustments on discontinued hedge relationship	$ (0.4)	$ (1.5)
Cash Flow Hedging
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Maximum length of future cash flow hedges	7 years 6 months
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	$ 15
Reclassification from AOCI
Net Investment Hedging
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative notional amount outstanding	344.8
Pre-tax loss recognized in OCI	20.4
Interest-Rate Contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount of outstanding contracts	3,280.5
Notional maturities for interest-rate contracts 2021	1,241.1
Notional maturities for interest-rate contracts 2022	950
Notional maturities for interest-rate contracts 2023	761.8
Notional maturities for interest-rate contracts 2024	169.6
Notional maturities for interest-rate contracts 2025	58.9
Notional maturities for interest-rate contracts thereafter	99.1
Foreign-exchange contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative notional amount outstanding	$ 1,128.8
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	Dec. 31, 2020	Dec. 31, 2019
ASSETS
Derivative assets	$ 20.5	$ 56.3
Pro forma net amount	6.4	47.3
LIABILITIES
Derivative liabilities	159.9	44.3
Pro forma net amount	145.8	35.3
Interest-Rate Contracts | Financial Services
ASSETS
Less amounts not offset in financial instruments	(12)	(8.6)
LIABILITIES
Less amounts not offset in financial instruments	(12)	(8.6)
Foreign-exchange contracts | Truck, Parts and Other
ASSETS
Less amounts not offset in financial instruments	(2.1)	(0.4)
LIABILITIES
Less amounts not offset in financial instruments	(2.1)	(0.4)
Designated under hedge accounting
ASSETS
Derivative assets	19.1	55.9
LIABILITIES
Derivative liabilities	153.2	40.2
Designated under hedge accounting | Interest-Rate Contracts | Other Assets
ASSETS
Derivative assets	20.5
Designated under hedge accounting | Interest-Rate Contracts | Financial Services | Other Assets
ASSETS
Derivative assets	16.4	45.8
Designated under hedge accounting | Interest-Rate Contracts | Financial Services | Deferred Taxes and Other Liabilities
LIABILITIES
Derivative liabilities	116.1	31
Designated under hedge accounting | Foreign-exchange contracts | Financial Services | Deferred Taxes and Other Liabilities
LIABILITIES
Derivative liabilities	1.2	0
Designated under hedge accounting | Foreign-exchange contracts | Truck, Parts and Other | Other current assets
ASSETS
Derivative assets	2.7	10.1
Designated under hedge accounting | Foreign-exchange contracts | Truck, Parts and Other | Accounts payable, accrued expenses and other
LIABILITIES
Derivative liabilities	35.9	9.2
Not designated as hedging instruments
ASSETS
Derivative assets	1.4	0.4
LIABILITIES
Derivative liabilities	6.7	4.1
Not designated as hedging instruments | Foreign-exchange contracts | Financial Services | Other Assets
ASSETS
Derivative assets	0.3	0
Not designated as hedging instruments | Foreign-exchange contracts | Financial Services | Deferred Taxes and Other Liabilities
LIABILITIES
Derivative liabilities	3.4	2.3
Not designated as hedging instruments | Foreign-exchange contracts | Truck, Parts and Other | Other current assets
ASSETS
Derivative assets	1.1	0.4
Not designated as hedging instruments | Foreign-exchange contracts | Truck, Parts and Other | Accounts payable, accrued expenses and other
LIABILITIES
Derivative liabilities	$ 3.3	$ 1.8

Amount of (Gain) Loss from Deri

Amount of (Gain) Loss from Derivative Financial Instruments Reclassified from AOCI into Consolidated Statements of Income (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Truck, Parts and Other
Derivative Instruments Gain Loss [Line Items]
Derivatives designated as hedging instruments (gain) loss	$ (12.5)	$ 14.6	$ (2.8)
Financial Services
Derivative Instruments Gain Loss [Line Items]
Derivatives designated as hedging instruments (gain) loss	95.6	34	(116.9)
Fair Value Hedging | Financial Services
Derivative Instruments Gain Loss [Line Items]
Derivatives designated as hedging instruments (gain) loss	1.1	1.5	1.8
Cash Flow Hedging | Truck, Parts and Other
Derivative Instruments Gain Loss [Line Items]
Derivatives designated as hedging instruments (gain) loss	(6.9)	19.2	(2.8)
Cash Flow Hedging | Financial Services
Derivative Instruments Gain Loss [Line Items]
Derivatives designated as hedging instruments (gain) loss	94.5	32.5	$ (118.7)
Net Investment Hedging | Truck, Parts and Other
Derivative Instruments Gain Loss [Line Items]
Derivatives designated as hedging instruments (gain) loss	$ (5.6)	$ (4.6)

Amounts Related to Cumulative B

Amounts Related to Cumulative Basis Adjustments for Fair Value Hedges (Detail) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Carrying amount of hedged liabilities	$ 90.9	$ 90.5
Cumulative basis adjustment included in the carrying amount	$ (0.9)	$ (0.5)

Pre-Tax Effects of (Loss) Gain

Pre-Tax Effects of (Loss) Gain Derivative Instruments Recognized in OCI (Detail) - Derivative Contracts - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Interest-Rate Contracts
Derivative [Line Items]
(Loss) gain recognized in OCI	$ (107.3)	$ (44.4)	$ 117.1
Foreign-exchange contracts
Derivative [Line Items]
(Loss) gain recognized in OCI	2	(31.7)	4.5
Truck, Parts and Other | Foreign-exchange contracts
Derivative [Line Items]
(Loss) gain recognized in OCI	2.8	(31.7)	4.5
Financial Services | Interest-Rate Contracts
Derivative [Line Items]
(Loss) gain recognized in OCI	(107.3)	$ (44.4)	$ 117.1
Financial Services | Foreign-exchange contracts
Derivative [Line Items]
(Loss) gain recognized in OCI	$ (0.8)

Loss (Gain) Recognized in Earni

Loss (Gain) Recognized in Earnings to Derivatives not Designated as Hedging Instruments (Detail) - Foreign-exchange contracts - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Derivative [Line Items]
(Gain) loss recognized in earnings	$ 13.2	$ (4.1)	$ (6.6)
Truck, Parts and Other | Cost of sales and revenues
Derivative [Line Items]
(Gain) loss recognized in earnings	0.7	0.5	(0.3)
Truck, Parts and Other | Interest and other (income), net
Derivative [Line Items]
(Gain) loss recognized in earnings	2.3	5.4	6.9
Financial Services | Interest and other borrowing expenses
Derivative [Line Items]
(Gain) loss recognized in earnings	9.4	(10.1)	(14.9)
Financial Services | Selling, general and administrative
Derivative [Line Items]
(Gain) loss recognized in earnings	$ 0.8	$ 0.1	$ 1.7

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail)	Dec. 31, 2020USD ($)
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	Dec. 31, 2020	Dec. 31, 2019
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative assets	$ 20.5	$ 56.3
Derivative liabilities	159.9	44.3
Fair Value, Measurements, Recurring
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Marketable debt securities (amortized cost: 2020 - $1,409.7, 2019 - $1,154.0; allowance for credit losses: none)	1,429	1,162.1
Derivative assets	20.5	56.3
Derivative liabilities	159.9	44.3
Fair Value, Measurements, Recurring | Level 1
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Marketable debt securities (amortized cost: 2020 - $1,409.7, 2019 - $1,154.0; allowance for credit losses: none)	86.5	128.4
Fair Value, Measurements, Recurring | Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Marketable debt securities (amortized cost: 2020 - $1,409.7, 2019 - $1,154.0; allowance for credit losses: none)	1,342.5	1,033.7
Derivative assets	20.5	56.3
Derivative liabilities	159.9	44.3
Fair Value, Measurements, Recurring | Cross currency swaps
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative assets	14.8	43.8
Derivative liabilities	77.6	13.5
Fair Value, Measurements, Recurring | Cross currency swaps | Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative assets	14.8	43.8
Derivative liabilities	77.6	13.5
Fair Value, Measurements, Recurring | Interest-rate swaps
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative assets	1.6	2
Derivative liabilities	38.5	17.5
Fair Value, Measurements, Recurring | Interest-rate swaps | Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative assets	1.6	2
Derivative liabilities	38.5	17.5
Fair Value, Measurements, Recurring | Foreign-exchange contracts
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative assets	4.1	10.5
Derivative liabilities	43.8	13.3
Fair Value, Measurements, Recurring | Foreign-exchange contracts | Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative assets	4.1	10.5
Derivative liabilities	43.8	13.3
U.S. tax-exempt securities | Fair Value, Measurements, Recurring
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Marketable debt securities (amortized cost: 2020 - $1,409.7, 2019 - $1,154.0; allowance for credit losses: none)	392.4	320.2
U.S. tax-exempt securities | Fair Value, Measurements, Recurring | Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Marketable debt securities (amortized cost: 2020 - $1,409.7, 2019 - $1,154.0; allowance for credit losses: none)	392.4	320.2
U.S. corporate securities | Fair Value, Measurements, Recurring
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Marketable debt securities (amortized cost: 2020 - $1,409.7, 2019 - $1,154.0; allowance for credit losses: none)	232.9	165.7
U.S. corporate securities | Fair Value, Measurements, Recurring | Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Marketable debt securities (amortized cost: 2020 - $1,409.7, 2019 - $1,154.0; allowance for credit losses: none)	232.9	165.7
U.S. government and agency securities | Fair Value, Measurements, Recurring
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Marketable debt securities (amortized cost: 2020 - $1,409.7, 2019 - $1,154.0; allowance for credit losses: none)	94.4	129.3
U.S. government and agency securities | Fair Value, Measurements, Recurring | Level 1
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Marketable debt securities (amortized cost: 2020 - $1,409.7, 2019 - $1,154.0; allowance for credit losses: none)	86.5	128.4
U.S. government and agency securities | Fair Value, Measurements, Recurring | Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Marketable debt securities (amortized cost: 2020 - $1,409.7, 2019 - $1,154.0; allowance for credit losses: none)	7.9	0.9
Non-U.S. corporate securities | Fair Value, Measurements, Recurring
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Marketable debt securities (amortized cost: 2020 - $1,409.7, 2019 - $1,154.0; allowance for credit losses: none)	411.5	349.8
Non-U.S. corporate securities | Fair Value, Measurements, Recurring | Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Marketable debt securities (amortized cost: 2020 - $1,409.7, 2019 - $1,154.0; allowance for credit losses: none)	411.5	349.8
Non-U.S. government securities | Fair Value, Measurements, Recurring
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Marketable debt securities (amortized cost: 2020 - $1,409.7, 2019 - $1,154.0; allowance for credit losses: none)	77.5	72.4
Non-U.S. government securities | Fair Value, Measurements, Recurring | Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Marketable debt securities (amortized cost: 2020 - $1,409.7, 2019 - $1,154.0; allowance for credit losses: none)	77.5	72.4
Other debt securities | Fair Value, Measurements, Recurring
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Marketable debt securities (amortized cost: 2020 - $1,409.7, 2019 - $1,154.0; allowance for credit losses: none)	220.3	124.7
Other debt securities | Fair Value, Measurements, Recurring | Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Marketable debt securities (amortized cost: 2020 - $1,409.7, 2019 - $1,154.0; allowance for credit losses: none)	$ 220.3	$ 124.7

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	Dec. 31, 2020	Dec. 31, 2019
Assets, carrying amount
Fixed-rate loans	$ 5,319.2	$ 4,914.4
Liabilities, carrying amount
Fixed-rate debt	6,482	5,925.9
Assets, Fair Value
Fixed-rate loans	5,429.5	4,992.2
Liabilities, Fair Value
Fixed-rate debt	$ 6,648.6	$ 5,990.7

Stock Compensation Plans - Addi

Stock Compensation Plans - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of option granted	$ 6.4	$ 7.3	$ 6.3
Fair value of option vested	5	$ 5.8	$ 5.3
Unrecognized compensation cost related to unvested stock	$ 5.4
Recognized over a remaining weighted-average vesting period (year)	1 year 5 months 15 days
Stock options | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options expiration term from the grant date (in years)	10 years
Stock options | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	3 years
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost related to unvested stock	$ 2
Recognized over a remaining weighted-average vesting period (year)	1 year 3 months 3 days
Restricted Stock Units (RSUs) | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	3 years
Stock Options and Restricted Stock Units (RSUs) | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock authorized for issuance	46,700,000
Shares available for future grants	11,800,000

Assumptions Used in Determining

Assumptions Used in Determining Fair Value of Option Awards (Detail) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Risk-free interest rate	1.54%	2.55%	2.64%
Expected volatility	23.00%	23.00%	23.00%
Expected dividend yield	4.10%	4.90%	3.80%
Expected term	6 years	6 years	6 years
Weighted average grant date fair value of options per share	$ 10.02	$ 8.26	$ 10.67

Summary of Activity Under Stock

Summary of Activity Under Stock Plans (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Intrinsic value of options exercised	$ 26.9	$ 31.9	$ 13.4
Cash received from stock option exercises	53.8	60.9	19.7
Tax benefit related to stock award exercises	3.8	3.8	2.4
Stock-based compensation	13	15.1	13.2
Tax benefit related to stock-based compensation	$ 1.6	$ 1.9	$ 1.9

Summary of Options (Detail)

Summary of Options (Detail) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)$ / sharesshares
NUMBER OF SHARES
Options outstanding, beginning balance | shares	3,488,300
Granted | shares	641,700
Exercised | shares	(949,900)
Cancelled | shares	(63,600)
Options outstanding, ending balance | shares	3,116,500
Vested and expected to vest, end of period | shares	3,014,300
Exercisable, end of period | shares	1,323,200
PER SHARE EXERCISE PRICE
Options outstanding, beginning balance | $ / shares	$ 60.18	[1]
Granted | $ / shares	76.18	[1]
Exercised | $ / shares	56.68	[1]
Cancelled | $ / shares	69.75	[1]
Options outstanding, ending balance | $ / shares	64.34	[1]
Vested and expected to vest, end of period | $ / shares	64.06	[1]
Exercisable, end of period | $ / shares	$ 56.63	[1]
REMAINING CONTRACTUAL LIFE IN YEARS
Options outstanding, ending balance	6 years 5 months 23 days	[1]
Vested and expected to vest, end of period	6 years 4 months 24 days	[1]
Exercisable, end of period	4 years 1 month 24 days	[1]
AGGREGATE INTRINSIC VALUE
Options outstanding, ending balance | $	$ 68.4
Vested and expected to vest, end of period | $	67
Exercisable, end of period | $	$ 39.2
[1]	Weighted Average

Summary of Nonvested Restricted

Summary of Nonvested Restricted Shares Activity (Detail) - Restricted Stock Units (RSUs)	12 Months Ended
	Dec. 31, 2020$ / sharesshares
GRANT DATE FAIR VALUE
Nonvested awards outstanding, beginning balance | $ / shares	$ 65.92	[1]
Granted | $ / shares	76.78	[1]
Vested | $ / shares	69.46	[1]
Forfeited | $ / shares	71.47	[1]
Nonvested awards outstanding, ending balance | $ / shares	$ 70.49	[1]
NONVESTED NUMBER OF SHARES
Nonvested awards outstanding, beginning balance | shares	150,500
Granted | shares	94,400
Vested | shares	(96,700)
Forfeited | shares	(5,800)
Nonvested awards outstanding, ending balance | shares	142,400
[1]	Weighted Average

Dilutive and Antidilutive Optio

Dilutive and Antidilutive Options (Detail) - shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Earnings Per Share [Abstract]
Additional shares	607,800	621,300	785,100
Antidilutive options	686,100	1,489,400	1,176,600

Segment and Related Informati_3

Segment and Related Information - Additional Information (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)Segment	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Segment Reporting Information [Line Items]
Reportable segments | Segment	3
Investment income (expense)	$ 35.9	$ 82.3	$ 60.9
Other Segments | Intersegment
Segment Reporting Information [Line Items]
Investment income (expense)	$ 1.4	$ 0.3	$ (0.3)

Geographical Area Data Recorded

Geographical Area Data Recorded to Consolidated (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Net sales and revenues	$ 18,728.5	$ 25,599.7	$ 23,495.7
Property, plant and equipment, net	3,270.4	2,883.8	2,480.9
Equipment on operating leases, net	3,584.7	3,648.1	3,641.6
United States
Segment Reporting Information [Line Items]
Net sales and revenues	10,526.6	15,119.3	13,165.7
Property, plant and equipment, net	1,633	1,556.4	1,353.8
Equipment on operating leases, net	1,219	1,390.1	1,405.1
Europe
Segment Reporting Information [Line Items]
Net sales and revenues	4,871.2	6,104.7	6,071.9
Other Countries
Segment Reporting Information [Line Items]
Net sales and revenues	3,330.7	4,375.7	4,258.1
Property, plant and equipment, net	542.2	531.9	491.9
Equipment on operating leases, net	571.7	531	614.4
Belgium
Segment Reporting Information [Line Items]
Property, plant and equipment, net	596.2	395.7	237.4
The Netherlands
Segment Reporting Information [Line Items]
Property, plant and equipment, net	499	399.8	397.8
Poland
Segment Reporting Information [Line Items]
Equipment on operating leases, net	359.4	343.5	327.8
France
Segment Reporting Information [Line Items]
Equipment on operating leases, net	349.7	315	246.8
Germany
Segment Reporting Information [Line Items]
Equipment on operating leases, net	346.4	358.3	361
Spain
Segment Reporting Information [Line Items]
Equipment on operating leases, net	310.8	276.1	249.8
Mexico
Segment Reporting Information [Line Items]
Equipment on operating leases, net	302.3	320.5	306.4
United Kingdom
Segment Reporting Information [Line Items]
Equipment on operating leases, net	$ 125.4	$ 113.6	$ 130.3

Segment Reporting Information b

Segment Reporting Information by Segment (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Revenues	$ 18,728.5	$ 25,599.7	$ 23,495.7
Income (loss) before income taxes	1,657.9	3,099.2	2,810.2
Investment income	35.9	82.3	60.9
Depreciation and amortization	1,049	1,077.3	1,054.1
Expenditures for long-lived assets	1,657.5	2,140.7	1,931.8
Assets	28,260	28,361.1	25,482.4
Truck, Parts and Other
Segment Reporting Information [Line Items]
Net sales and revenues	17,154.3	24,119.7	22,138.6
Income (loss) before income taxes	1,398.9	2,718	2,443.4
Depreciation and amortization	323.8	412.4	433.8
Expenditures for long-lived assets	610.8	762.1	846.7
Assets	12,460.2	12,289.7	11,082.8
Cash and marketable securities	4,834	5,169.4	4,299.6
Truck, Parts and Other | Trucks
Segment Reporting Information [Line Items]
Net sales and revenues	13,164.8	19,989.5	18,187
Income (loss) before income taxes	581.4	1,904.9	1,672.1
Depreciation and amortization	292.2	381.9	406.2
Expenditures for long-lived assets	556	664.9	778.5
Assets	5,971.9	5,609	5,347.3
Truck, Parts and Other | Trucks | Operating Segments
Segment Reporting Information [Line Items]
Net sales and revenues	13,643	20,403.5	18,863.1
Truck, Parts and Other | Trucks | Intersegment
Segment Reporting Information [Line Items]
Net sales and revenues	(478.2)	(414)	(676.1)
Truck, Parts and Other | Parts Subsegment
Segment Reporting Information [Line Items]
Net sales and revenues	3,912.9	4,024.9	3,838.9
Income (loss) before income taxes	799.3	830.8	768.6
Depreciation and amortization	10.8	10.2	9.2
Expenditures for long-lived assets	18.4	46.2	29.4
Assets	1,255.6	1,172.1	1,090.9
Truck, Parts and Other | Parts Subsegment | Operating Segments
Segment Reporting Information [Line Items]
Net sales and revenues	3,962.7	4,073.1	3,896.2
Truck, Parts and Other | Parts Subsegment | Intersegment
Segment Reporting Information [Line Items]
Net sales and revenues	(49.8)	(48.2)	(57.3)
Truck, Parts and Other | Other
Segment Reporting Information [Line Items]
Net sales and revenues	76.6	105.3	112.7
Income (loss) before income taxes	18.2	(17.7)	2.7
Depreciation and amortization	20.8	20.3	18.4
Expenditures for long-lived assets	36.4	51	38.8
Assets	398.7	339.2	345
Financial Services
Segment Reporting Information [Line Items]
Revenues	1,574.2	1,480	1,357.1
Income (loss) before income taxes	223.1	298.9	305.9
Depreciation and amortization	725.2	664.9	620.3
Expenditures for long-lived assets	1,046.7	1,378.6	1,085.1
Assets	$ 15,799.8	$ 16,071.4	$ 14,399.6

Quarterly Results (Unaudited)_2

Quarterly Results (Unaudited) (Detail) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Quarterly Financial Information [Line Items]
Revenues									$ 18,728.5	$ 25,599.7	$ 23,495.7
Net income	$ 405.8	$ 385.5	$ 147.7	$ 359.4	$ 531.3	$ 607.9	$ 619.7	$ 629	$ 1,298.4	$ 2,387.9	$ 2,195.1
Net Income Per Share
Basic	$ 1.17	$ 1.11	$ 0.43	$ 1.04	$ 1.53	$ 1.75	$ 1.79	$ 1.81	$ 3.74	$ 6.88	$ 6.25
Diluted	$ 1.17	$ 1.11	$ 0.43	$ 1.03	$ 1.53	$ 1.75	$ 1.78	$ 1.81	$ 3.74	$ 6.87	$ 6.24
Truck, Parts and Other
Quarterly Financial Information [Line Items]
Net sales and revenues	$ 5,136	$ 4,538.4	$ 2,701.9	$ 4,778	$ 5,710.9	$ 6,004.2	$ 6,266.5	$ 6,138.1	$ 17,154.3	$ 24,119.7
Cost of sales and revenues	4,487	3,958.3	2,441.5	4,189.6	4,890	5,106.8	5,341.7	5,217.1
Research and development	71.7	64.7	66.5	71	83.6	82.2	82.5	78.3
Financial Services
Quarterly Financial Information [Line Items]
Revenues	432.6	397.6	360.3	383.7	406.3	362.8	361.4	349.5
Interest and other borrowing expenses	43.6	45.2	46.9	56.4	57.5	59.6	60	53.4
Depreciation and other expenses	$ 292	$ 262.5	$ 224.1	$ 229.4	$ 241.9	$ 195.3	$ 183.6	$ 177.4