PACCAR (PCAR) 10-Q 2 Aug 22 2022 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2022	Jul. 28, 2022
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Entity Registrant Name	PACCAR Inc
Entity Central Index Key	0000075362
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		347,718,742
Entity Shell Company	false
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity File Number	001-14817
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
Entity Incorporation, State or Country Code	DE
Document Quarterly Report	true
Document Transition Report	false
Title of Each Class	Common stock, $1 par value
Trading Symbol	PCAR
Name of Each Exchange on Which Registered	NASDAQ

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Revenues	$ 7,158.7	$ 5,843.9	$ 13,631.3	$ 11,689.4
Cost of sales and revenues		4,659.4		9,349.1
Provision for losses on receivables			4.6	3.2
Investment income	5.4	5	2.9	9.9
Income before income taxes	922.1	640.3	1,693.5	1,248.6
Income taxes	201.7	144.8	372.6	282.3
Net Income	$ 720.4	$ 495.5	$ 1,320.9	$ 966.3
Net Income Per Share
Basic	$ 2.07	$ 1.42	$ 3.79	$ 2.78
Diluted	$ 2.07	$ 1.42	$ 3.79	$ 2.77
Weighted Average Number of Common Shares Outstanding
Basic	348.4	347.8	348.3	347.7
Diluted	348.8	348.5	348.8	348.5
Comprehensive Income	$ 486.4	$ 582.3	$ 1,130.3	$ 987
Truck, Parts and Other
Revenues	6,786.2	5,387.6	12,892.6	10,801.1
Cost of sales and revenues	5,811	4,659.4	11,096.5	9,349.1
Research and development	80.4	84.4	158.4	164.5
Selling, general and administrative	144.9	132.2	292.9	262.1
Interest and other (income), net	(22.4)	(17.2)	(54.4)	(30.4)
Costs and Expenses, Total	6,013.9	4,858.8	11,493.4	9,745.3
Income before income taxes	772.3	528.8	1,399.2	1,055.8
Financial Services
Revenues	372.5	456.3	738.7	888.3
Interest and fees	150.9	132.4	283.2	262.3
Operating lease, rental and other revenues	221.6	323.9	455.5	626
Interest and other borrowing expenses	46.4	37.6	86.2	79.6
Depreciation and other expenses	145.4	280.5	288.9	559.2
Selling, general and administrative	31.9	32.2	67.6	63.4
Provision for losses on receivables	4.4	(0.5)	4.6	3.2
Costs and Expenses, Total	228.1	349.8	447.3	705.4
Income before income taxes	$ 144.4	$ 106.5	$ 291.4	$ 182.9

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
ASSETS
Inventories, net		$ 1,976
Total Assets	$ 30,588.7	29,509.4
Liabilities
Other liabilities		1,487.6
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 347.7 and 347.3 million shares	347.7	347.3
Additional paid-in capital	174	142
Treasury stock, at cost - .02 million and nil shares	(1.9)
Retained earnings	13,109.9	12,025.8
Accumulated other comprehensive loss	(1,111.7)	(921.1)
Total Stockholders' Equity	12,518	11,594
Liabilities and Equity, Total	30,588.7	29,509.4
Truck, Parts and Other
ASSETS
Cash and cash equivalents	3,135.1	3,253.6
Trade and other receivables, net (allowance for losses: 2022 - $.6, 2021 - $.6)	1,959.7	1,575.1
Marketable securities	1,559.2	1,559.4
Inventories, net	2,232.2	1,976
Other current assets	692.1	732.9
Total Truck, Parts and Other Current Assets	9,578.3	9,097
Equipment on operating leases, net	250.3	302.4
Property, plant and equipment, net	3,368	3,398.1
Other noncurrent assets, net	1,351.2	1,293
Total Assets	14,547.8	14,090.5
Liabilities
Accounts payable, accrued expenses and other	4,537	3,930.9
Dividend payable		521.1
Total Truck, Parts and Other Current Liabilities	4,537	4,452
Residual value guarantees and deferred revenues	271.7	329.1
Accounts payable, accrued expenses and other	4,537
Other liabilities	1,419.2	1,487.6
Total Liabilities	6,227.9	6,268.7
STOCKHOLDERS' EQUITY:
Retained earnings	13,109.9
Financial Services
ASSETS
Cash and cash equivalents	96.2	174.7
Finance and other receivables, net (allowance for losses: 2022 -$119.6, 2021 - $116.9)	12,649.2	11,920.8
Equipment on operating leases, net	2,704.9	2,886.5
Other assets	590.6	436.9
Total Assets	16,040.9	15,418.9
Liabilities
Accounts payable, accrued expenses and other	697	624.5
Commercial paper and bank loans	3,270.5	3,303
Term notes	7,293.8	7,128.8
Deferred taxes and other liabilities	581.5	590.4
Total Liabilities	$ 11,842.8	$ 11,646.7

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
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	347,700,000	347,300,000
Treasury stock, shares	20,000
Truck, Parts and Other
Allowance for losses	$ 6	$ 6
Financial Services
Allowance for credit losses	$ 119.6	$ 116.9

Condensed Consolidated Statemen

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
OPERATING ACTIVITIES:
Net Income	$ 1,320.9	$ 966.3
Adjustments to reconcile net income to cash provided by operations:
Depreciation and amortization, Property, plant and equipment	155.3	133.8
Depreciation and amortization, Equipment on operating leases and other	227.3	348.6
Provision for losses on financial services receivables	4.6	3.2
Other, net	(158)	(50.7)
Pension contributions	(13.2)	(12.9)
Change in operating assets and liabilities:
Trade and other receivables	(440.1)	(334.8)
Wholesale receivables on new trucks	(570.4)	163.4
Inventories	(307.9)	(843.3)
Accounts payable and accrued expenses	810.3	731
Income taxes, warranty and other	68.7	(236.9)
Net Cash Provided by Operating Activities	1,097.5	867.7
INVESTING ACTIVITIES:
Originations of retail loans and finance leases	(2,407)	(2,291.7)
Collections on retail loans and finance leases	2,000.6	1,954.6
Net (increase) decrease in wholesale receivables on used equipment	(18.7)	19.1
Purchases of marketable debt securities	(515.9)	(401.8)
Proceeds from sales and maturities of marketable debt securities	426.3	385.8
Payments for property, plant and equipment	(266.9)	(242.4)
Acquisitions of equipment for operating leases	(472.4)	(550.9)
Proceeds from asset disposals	348.3	473.4
Other, net	26.7	(12.8)
Net Cash Used in Investing Activities	(879)	(666.7)
FINANCING ACTIVITIES:
Payments of cash dividends	(757.6)	(471.8)
Purchases of treasury stock	(1.9)	(1.4)
Proceeds from stock compensation transactions	18.4	30.1
Net increase in commercial paper, short-term bank loans and other	116.5	27.4
Proceeds from term debt	1,648.3	1,429.7
Payments on term debt	(1,369.7)	(1,665.5)
Net Cash Used in Financing Activities	(346)	(651.5)
Effect of exchange rate changes on cash and cash equivalents	(69.5)	(19.3)
Net Decrease in Cash and Cash Equivalents	(197)	(469.8)
Cash and cash equivalents at beginning of period	3,428.3	3,539.6
Cash and cash equivalents at end of period	$ 3,231.3	$ 3,069.8

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Millions	Total	COMMON STOCK, $1 PAR VALUE:	ADDITIONAL PAID-IN CAPITAL:	TREASURY STOCK, AT COST:	RETAINED EARNINGS:	ACCUMULATED OTHER COMPREHENSIVE LOSS:
Beginning balance at Dec. 31, 2020		$ 346.6	$ 88.5		$ 11,148.5	$ (1,050.3)
Net income	$ 966.3				966.3
Purchases				$ (1.4)
Cash dividends declared on common stock					(229.6)
Stock compensation		0.6	40.4
Other comprehensive (loss) income	20.7					20.7
Ending balance at Jun. 30, 2021	11,330.3	347.2	128.9	(1.4)	11,885.2	(1,029.6)
Beginning balance at Mar. 31, 2021		347.2	124.3	(1.4)	11,508	(1,116.4)
Net income	495.5				495.5
Cash dividends declared on common stock					(118.3)
Stock compensation			4.6
Other comprehensive (loss) income	86.8					86.8
Ending balance at Jun. 30, 2021	11,330.3	347.2	128.9	(1.4)	11,885.2	(1,029.6)
Beginning balance at Dec. 31, 2021	11,594	347.3	142		12,025.8	(921.1)
Net income	1,320.9				1,320.9
Purchases				(1.9)
Cash dividends declared on common stock					(236.8)
Stock compensation		0.4	32
Other comprehensive (loss) income	(190.6)					(190.6)
Ending balance at Jun. 30, 2022	12,518	347.7	174	(1.9)	13,109.9	(1,111.7)
Beginning balance at Mar. 31, 2022		347.7	167.3	(1.9)	12,507.9	(877.7)
Net income	720.4				720.4
Cash dividends declared on common stock					(118.4)
Stock compensation			6.7
Other comprehensive (loss) income	(234)					(234)
Ending balance at Jun. 30, 2022	$ 12,518	$ 347.7	$ 174	$ (1.9)	$ 13,109.9	$ (1,111.7)

Consolidated Statements of St_2

Consolidated Statements of Stockholders' Equity (Unaudited) (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
RETAINED EARNINGS:
Cash dividends declared on common stock, per share	$ 0.34	$ 0.34	$ 0.68	$ 0.66

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2022
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Basis of Presentation	NOTE A - Basis of Presentation The accompanying unaudited consolidated financial statements have been prepared in accordance with generally accepted accounting principles (GAAP) for interim financial information and with the instructions to Form 10‑Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three and six months ended June 30, 2022 are not necessarily indicative of the results that may be expected for the year ending December 31, 2022. For further information, refer to the consolidated financial statements and footnotes included in PACCAR Inc’s (PACCAR or the Company) Annual Report on Form 10‑K for the year ended December 31, 2021. Earnings per Share : Basic earnings per common share are computed by dividing earnings by the weighted average number of common shares outstanding, plus the effect of any participating securities. Diluted earnings per common share are computed assuming that all potentially dilutive securities are converted into common shares under the treasury stock method. The dilutive and antidilutive options are shown separately in the table below. Three Months Ended Six Months Ended June 30 June 30 2022 2021 2022 2021 Additional shares 422,500 712,700 497,300 752,300 Antidilutive options 1,099,900 551,000 1,100,300 583,600 Change in Accounting: In the first quarter of 2022, the Company changed the method of accounting for its U.S. inventories from last-in-first-out (LIFO) to first-in-first-out (FIFO). Inventories valued using the LIFO method comprised 41% of consolidated inventories before deducting the LIFO reserve at December 31, 2021. The Company believes the FIFO method is preferable because it better matches cost with revenues, it results in a more consistent method to value inventory with its foreign subsidiaries and it improves comparability with industry peers. This change increased Retained Earnings by $143.3 million to $11,148.5 million at January 1, 2021. The effects of the change in accounting principle have been retrospectively applied to all periods presented: The effect of the changes made to the Company’s Consolidated Statements of Comprehensive Income was as follows: Three Months Ended June 30, 2021 AS ORIGINALLY REPORTED EFFECT OF CHANGE AS ADJUSTED Truck, Parts and Other Cost of sales and revenues $ 4,662.7 $ (3.3 ) $ 4,659.4 Income Taxes 144.1 .7 144.8 Net Income 492.9 2.6 495.5 Six Months Ended June 30, 2021 AS ORIGINALLY REPORTED EFFECT OF CHANGE AS ADJUSTED Truck, Parts and Other Cost of sales and revenues $ 9,353.4 $ (4.3 ) $ 9,349.1 Income Taxes 281.3 1.0 282.3 Net Income 963.0 3.3 966.3 The cumulative effect of the changes made to the Company’s Consolidated Balance Sheet was as follows: December 31, 2021 AS ORIGINALLY REPORTED EFFECT OF CHANGE AS ADJUSTED Truck, Parts and Other Inventories, net $ 1,768.3 $ 207.7 $ 1,976.0 Other liabilities 1,436.5 51.1 1,487.6 Retained earnings 11,869.2 156.6 12,025.8 The change in accounting policy did not materially affect basic or diluted net income per share or income before income taxes within the Truck, Parts and Other segments for the three and six months ended June 30, 2021. There was no impact on total net cash provided by operating activities. The following table compares the amounts currently reported to amounts that would have been reported under LIFO in the Consolidated Statements of Comprehensive Income. Three Months Ended June 30, 2022 AS REPORTED PRO FORMA UNDER LIFO EFFECT OF CHANGE Truck, Parts and Other Cost of sales and revenues $ 5,811.0 $ 5,825.6 $ (14.6 ) Income Taxes 201.7 198.1 3.6 Net Income 720.4 709.4 11.0 Net Income Per Share Basic $ 2.07 $ 2.04 $ .03 Diluted $ 2.07 $ 2.03 $ .04 Six Months Ended June 30, 2022 AS REPORTED PRO FORMA UNDER LIFO EFFECT OF CHANGE Truck, Parts and Other Cost of sales and revenues $ 11,096.5 $ 11,122.4 $ (25.9 ) Income Taxes 372.6 366.2 6.4 Net Income 1,320.9 1,301.4 19.5 Net Income Per Share Basic $ 3.79 $ 3.74 $ .05 Diluted $ 3.79 $ 3.73 $ .06 The effect of the change to income before income taxes within the Truck, Parts and Other segments for the three and six months ended June 30, 2022 would not be material. In addition, there would be no material effect on the Consolidated Statements of Cash Flows. The following table compares the amounts currently reported to amounts that would have been reported under LIFO in the Consolidated Balance Sheet. June 30, 2022 AS REPORTED PRO FORMA UNDER LIFO EFFECT OF CHANGE Truck, Parts and Other Inventories, net $ 2,232.2 $ 1,998.6 $ 233.6 Accounts payable, accrued expenses and other 4,537.0 4,479.5 57.5 Retained earnings 13,109.9 12,933.8 176.1 New Accounting Pronouncements: The Company adopted the following standards on January 1, 2022, which had no material impact on the Company’s consolidated financial statements. STANDARD DESCRIPTION 2021-05 Leases (Topic 842) - Lessors—Certain Leases with Variable Lease Payments 2021-10 Government Assistance (Topic 832) - Disclosures by Business Entities about Government Assistance The Financial Accounting Standards Board (FASB) also issued the following standards, which are not expected to have a material impact on the Company’s consolidated financial statements. STANDARD DESCRIPTION EFFECTIVE DATE 2022-02* Financial Instruments—Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures January 1, 2023 2022-03* Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions January 1, 2024 * The Company will adopt on the effective date.

Sales and Revenues

Sales and Revenues	6 Months Ended
	Jun. 30, 2022
Sales And Revenues [Abstract]
Sales and Revenues	NOTE B – Sales and Revenues 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 following table disaggregates Truck, Parts and Other revenues by major sources: Three Months Ended Six Months Ended June 30 June 30 2022 2021 2022 2021 Truck Truck sales $ 5,130.2 $ 3,950.4 $ 9,611.3 $ 7,995.4 Revenues from extended warranties, operating leases and other 206.2 201.8 422.2 389.8 5,336.4 4,152.2 10,033.5 8,385.2 Parts Parts sales 1,394.5 1,176.1 2,742.6 2,302.0 Revenues from dealer services and other 40.2 35.2 81.0 70.0 1,434.7 1,211.3 2,823.6 2,372.0 Winch sales and other 15.1 24.1 35.5 43.9 Truck, Parts and Other sales and revenues $ 6,786.2 $ 5,387.6 $ 12,892.6 $ 10,801.1 The Company recognizes truck and parts sales as revenues 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 parts 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 an eight-year Aftermarket parts sales allow for returns which are estimated at the time of sale based on historical data. Parts dealer services and other revenues are recognized as services are performed. The following table presents the balance sheet classification of the estimated value of the truck assets to be returned goods assets and the related return liabilities: June 30, 2022 December 31, 2021 ASSETS LIABILITIES ASSETS LIABILITIES Trucks Other current assets $ 222.1 $ 255.7 Accounts payable, accrued expenses and other $ 226.2 $ 264.0 Other noncurrent assets, net 364.9 403.6 Other liabilities 383.0 423.9 $ 587.0 $ 609.2 $ 659.3 $ 687.9 Parts Other current assets $ 82.3 $ 72.9 Accounts payable, accrued expenses and other $ 193.8 $ 172.1 $ 82.3 $ 193.8 $ 72.9 $ 172.1 For contracts accounted for as a sale, the Company’s total commitment to acquire trucks at a guaranteed value was $1,074.7 at June 30, 2022. 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 F, 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. Deferred revenue related to trucks sold with an RVG was $72.7 at June 30, 2022. The Company expects to recognize approximately $16.3 of the remaining deferred revenue in 2022, $23.7 in 2023, $14.9 in 2024, $12.1 in 2025 and $5.7 in 2026. For the three and six months ended June 30, 2022, total operating lease revenue from truck sales with RVGs was $22.0 and $49.9, respectively compared to $29.7 and $50.3 for the three and six months ended June 30, 2021. The Company’s total commitment to acquire trucks at a guaranteed value for contracts accounted for as a lease was $199.0 at June 30, 2022. 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 for 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. 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 June 30, 2022 or December 31, 2021. 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. The following table summarizes Financial Services lease revenues by lease type: Three Months Ended Six Months Ended June 30, 2022 June 30, 2022 2022 2021 2022 2021 Finance lease revenues $ 45.0 $ 48.4 $ 87.9 $ 96.1 Operating lease revenues 199.7 212.1 403.3 421.5 Total lease revenues $ 244.7 $ 260.5 $ 491.2 $ 517.6

Investments in Marketable Secur

Investments in Marketable Securities	3 Months Ended
	Mar. 31, 2022
Investments Debt And Equity Securities [Abstract]
Investments in Marketable Securities	NOTE C - Investments in Marketable Securities 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. Equity Securities Marketable equity securities are traded on active exchanges and are measured at fair value. The realized and unrealized gains (losses) are recognized in investment income. Marketable securities at June 30, 2022 and December 31, 2021 consisted of the following: UNREALIZED UNREALIZED FAIR At June 30, 2022 COST GAINS LOSSES VALUE Marketable debt securities U.S. tax-exempt securities $ 469.7 $ .3 $ 7.0 $ 463.0 U.S. taxable municipal/ provincial bonds 167.0 8.2 158.8 U.S. corporate securities 229.6 .1 9.3 220.4 U.S. government and agency securities 120.4 .2 1.5 119.1 Non-U.S. corporate securities 440.3 14.7 425.6 Non-U.S. government securities 77.3 .1 2.0 75.4 Other debt securities 98.8 4.1 94.7 Marketable equity securities 15.4 13.2 2.2 Total marketable securities $ 1,618.5 $ .7 $ 60.0 $ 1,559.2 UNREALIZED UNREALIZED FAIR At December 31, 2021 COST GAINS LOSSES VALUE Marketable debt securities U.S. tax-exempt securities $ 431.4 $ 1.5 $ .4 $ 432.5 U.S. taxable municipal/ provincial bonds 192.2 .6 1.2 191.6 U.S. corporate securities 208.3 .6 1.5 207.4 U.S. government and agency securities 95.9 .6 .1 96.4 Non-U.S. corporate securities 443.9 1.4 2.5 442.8 Non-U.S. government securities 75.2 .1 .3 75.0 Other debt securities 100.4 .3 .7 100.0 Marketable equity securities 15.4 1.3 3.0 13.7 Total marketable securities $ 1,562.7 $ 6.4 $ 9.7 $ 1,559.4 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 $.4 and $1.2 and gross realized losses were $.9 and $.1 for the six months periods ended June 30, 2022 Marketable debt securities with continuous unrealized losses and their related fair values were as follows: June 30, 2022 December 31, 2021 LESS THAN TWELVE MONTHS LESS THAN TWELVE MONTHS TWELVE MONTHS OR GREATER TWELVE MONTHS OR GREATER Fair value $ 1,233.6 $ 80.0 $ 911.2 $ 1.3 Unrealized losses 41.7 5.1 6.7 The unrealized losses on marketable debt securities above were due to higher yields on certain securities. The Company not identify any indicators of a credit loss in its assessments. Accordingly, no allowance for credit losses was recorded at June 30, 2022 and December 31, 2021. investment Contractual maturities of marketable debt securities at June 30, 2022 AMORTIZED FAIR COST VALUE Within one year $ 384.0 $ 381.8 One to five years 1,201.9 1,159.3 Six to ten years 4.0 3.9 More than ten years 13.2 12.0 $ 1,603.1 $ 1,557.0

Inventories

Inventories	6 Months Ended
	Jun. 30, 2022
Inventory Disclosure [Abstract]
Inventories	NOTE D - Inventories Inventories are stated at the lower of cost or market. Cost of inventories is determined principally by the first-in, first-out (FIFO) method. Inventories include the following: June 30 December 31 2022 2021 Finished products $ 792.1 $ 676.0 Work in process and raw materials 1,440.1 1,300.0 $ 2,232.2 $ 1,976.0 In the first quarter of 2022, the Company changed the method of accounting for its U.S. inventories from last-in-first-out (LIFO) to first-in-first-out (FIFO) and all prior periods have been retrospectively applied. See Note A - Basis of Presentation of this Quarterly Report on Form 10-Q.

Finance and Other Receivables

Finance and Other Receivables	6 Months Ended
	Jun. 30, 2022
Receivables [Abstract]
Finance and Other Receivables	NOTE E - Finance and Other Receivables Finance and other receivables include the following: June 30 December 31 2022 2021 Loans $ 6,720.9 $ 6,424.7 Finance leases 3,531.2 3,620.6 Dealer wholesale financing 2,385.8 1,865.8 Operating lease receivables and other 130.9 126.6 12,768.8 12,037.7 Less allowance for losses: Loans and leases (112.8 ) (111.5 ) Dealer wholesale financing (3.9 ) (3.3 ) Operating lease receivables and other (2.9 ) (2.1 ) $ 12,649.2 $ 11,920.8 Included in Finance and other receivables, net on the Consolidated Balance Sheets is accrued interest receivable (net of allowance for credit losses) of $31.9 and $27.7 as of June 30, 2022 and December 31, 2021, respectively. The net activity of dealer direct loans and dealer wholesale financing on new trucks is shown in the operating section of the Condensed Consolidated Statements of Cash Flows since those receivables finance the sale of Company inventory. Allowance for Credit Losses The Company continuously monitors the payment performance of its finance receivables. For large retail finance customers and dealers with wholesale financing, the Company regularly reviews their financial statements and makes site visits and phone contact as appropriate. If the Company becomes aware of circumstances that could cause those customers or dealers to face financial difficulty, whether or not they are past due, the customers are placed on a watch list. The Company modifies loans and finance leases in the normal course of its Financial Services operations. The Company may modify loans and finance leases for commercial reasons or for credit reasons. Modifications for commercial reasons are changes to contract terms for customers that are not considered to be in financial difficulty. Insignificant delays are modifications extending terms up to three months for customers experiencing some short-term financial stress, but not considered to be in financial difficulty. Modifications for credit reasons are changes to contract terms for customers considered to be in financial difficulty. The Company’s modifications typically result in granting more time to pay the contractual amounts owed and charging a fee and interest for the term of the modification. When considering whether to modify customer accounts for credit reasons, the Company evaluates the creditworthiness of the customers and modifies those accounts that the Company considers likely to perform under the modified terms. When the Company modifies 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. On average, modifications extended contractual terms by approximately four months in 2022 and eight months in 2021, and did not have a significant effect on the weighted average term or interest rate of the total portfolio at June 30, 2022 and December 31, 2021. 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 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. For the following credit quality disclosures, finance receivables are classified into two portfolio segments, wholesale and retail. The retail portfolio is further segmented into dealer retail and customer retail. The dealer wholesale segment consists of truck inventory financing to PACCAR dealers. The dealer retail segment consists of loans and leases to participating dealers and franchises that use the proceeds to fund customers’ acquisition of commercial vehicles and related equipment. The customer retail segment consists of loans and leases directly to customers for the acquisition of commercial vehicles and related equipment. Customer retail receivables are further segregated between fleet and owner/operator classes. The fleet class consists of customer retail accounts operating more than five trucks. All other customer retail accounts are considered owner/operator. These two classes have similar measurement attributes, risk characteristics and common methods to monitor and assess credit risk. The allowance for credit losses is summarized as follows: 2022 DEALER CUSTOMER WHOLESALE RETAIL RETAIL OTHER* TOTAL Balance at January 1 $ 3.3 $ 7.1 $ 104.4 $ 2.1 $ 116.9 Provision for losses .8 (2.5 ) 6.1 .2 4.6 Charge-offs (4.4 ) (.3 ) (4.7 ) Recoveries 3.3 .3 3.6 Currency translation and other (.2 ) (1.2 ) .6 (.8 ) Balance at June 30 $ 3.9 $ 4.6 $ 108.2 $ 2.9 $ 119.6 2021 DEALER CUSTOMER WHOLESALE RETAIL RETAIL OTHER* TOTAL Balance at January 1 $ 3.4 $ 8.4 $ 112.0 $ 3.2 $ 127.0 Provision for losses (.3 ) 2.7 .8 3.2 Charge-offs (6.9 ) (.6 ) (7.5 ) Recoveries 2.8 .2 3.0 Currency translation and other (.4 ) (.4 ) Balance at June 30 $ 3.4 $ 8.1 $ 110.2 $ 3.6 $ 125.3 * Operating leases and other trade receivables. Credit Quality The Company's customers are principally concentrated in the transportation industry in North America, Europe, Australia and Brasil. The Company’s portfolio assets are diversified over a large number of customers and dealers with no single customer or dealer balances representing over 5% of the total portfolio assets. The Company retains as collateral a security interest in the related equipment. At the inception of each contract, the Company considers the credit risk based on a variety of credit quality factors including prior payment experience, customer financial information, credit-rating agency ratings, loan-to-value ratios and other internal metrics. On an ongoing basis, the Company monitors credit quality based on past due status and collection experience as there is a meaningful correlation between the past due status of customers and the risk of loss. The Company has three credit quality indicators: performing, watch and at-risk. Performing accounts pay in accordance with the contractual terms and are not considered high-risk. Watch accounts include accounts 31 to 90 days past due and large accounts that are performing but are considered to be high‑risk. Watch accounts are not impaired. At-risk accounts are accounts that are impaired, including TDRs, accounts over 90 days past due and other accounts on non-accrual status. The tables below summarize the amortized cost basis of the Company’s finance receivables within each credit quality indicator by year of origination and portfolio class. REVOLVING At June 30, 2022 LOANS 2022 2021 2020 2019 2018 PRIOR TOTAL Dealer: Wholesale: Performing $ 2,379.6 $ 2,379.6 Watch 6.2 6.2 $ 2,385.8 $ 2,385.8 Retail: Performing $ 198.3 $ 295.1 $ 390.7 $ 258.6 $ 284.3 $ 147.0 $ 163.3 $ 1,737.3 At-risk .9 .9 $ 198.3 $ 295.1 $ 390.7 $ 258.6 $ 284.3 $ 147.0 $ 164.2 $ 1,738.2 Total dealer $ 2,584.1 $ 295.1 $ 390.7 $ 258.6 $ 284.3 $ 147.0 $ 164.2 $ 4,124.0 Customer retail: Fleet: Performing $ 1,734.3 $ 2,378.3 $ 1,634.1 $ 841.4 $ 365.3 $ 139.3 $ 7,092.7 Watch 1.1 10.0 3.6 8.6 3.6 .8 27.7 At-risk .6 10.6 14.4 28.8 8.2 1.7 64.3 $ 1,736.0 $ 2,398.9 $ 1,652.1 $ 878.8 $ 377.1 $ 141.8 $ 7,184.7 Owner/operator: Performing $ 265.3 $ 504.3 $ 308.8 $ 158.0 $ 68.8 $ 18.0 $ 1,323.2 Watch .2 .8 .9 .6 .2 2.7 At-risk .5 1.0 .9 .8 .1 3.3 $ 265.5 $ 505.6 $ 310.7 $ 159.5 $ 69.8 $ 18.1 $ 1,329.2 Total customer retail $ 2,001.5 $ 2,904.5 $ 1,962.8 $ 1,038.3 $ 446.9 $ 159.9 $ 8,513.9 Total $ 2,584.1 $ 2,296.6 $ 3,295.2 $ 2,221.4 $ 1,322.6 $ 593.9 $ 324.1 $ 12,637.9 REVOLVING At December 31, 2021 LOANS 2021 2020 2019 2018 2017 PRIOR TOTAL Dealer: Wholesale: Performing $ 1,859.7 $ 1,859.7 Watch 6.1 6.1 $ 1,865.8 $ 1,865.8 Retail: Performing $ 201.9 $ 434.4 $ 315.4 $ 311.7 $ 176.0 $ 118.2 $ 96.9 $ 1,654.5 Watch 7.0 3.6 9.1 4.6 1.1 25.4 At-risk 1.1 1.1 $ 201.9 $ 441.4 $ 319.0 $ 320.8 $ 180.6 $ 119.3 $ 98.0 $ 1,681.0 Total dealer $ 2,067.7 $ 441.4 $ 319.0 $ 320.8 $ 180.6 $ 119.3 $ 98.0 $ 3,546.8 Customer retail: Fleet: Performing $ 2,851.7 $ 1,913.3 $ 1,227.0 $ 608.4 $ 220.4 $ 66.5 $ 6,887.3 Watch 2.6 6.5 4.3 5.3 .6 .2 19.5 At-risk 6.0 8.5 26.0 10.6 3.3 .4 54.8 $ 2,860.3 $ 1,928.3 $ 1,257.3 $ 624.3 $ 224.3 $ 67.1 $ 6,961.6 Owner/operator: Performing $ 611.9 $ 389.9 $ 228.1 $ 116.0 $ 38.6 $ 10.1 $ 1,394.6 Watch .7 .5 .7 .4 .1 2.4 At-risk .2 1.3 1.5 2.0 .5 .2 5.7 $ 612.8 $ 391.7 $ 230.3 $ 118.4 $ 39.2 $ 10.3 $ 1,402.7 Total customer retail $ 3,473.1 $ 2,320.0 $ 1,487.6 $ 742.7 $ 263.5 $ 77.4 $ 8,364.3 Total $ 2,067.7 $ 3,914.5 $ 2,639.0 $ 1,808.4 $ 923.3 $ 382.8 $ 175.4 $ 11,911.1 The tables below summarize the Company’s finance receivables by aging category. In determining past due status, the Company considers the entire contractual account balance past due when any installment is over 30 days past due. Substantially all customer accounts that were greater than 30 days past due prior to credit modification became current upon modification for aging purposes. DEALER CUSTOMER RETAIL OWNER/ At June 30, 2022 WHOLESALE RETAIL FLEET OPERATOR TOTAL Current and up to 30 days past due $ 2,384.5 $ 1,738.2 $ 7,144.0 $ 1,324.0 $ 12,590.7 31 – 60 days past due 1.3 9.6 1.9 12.8 Greater than 60 days past due 31.1 3.3 34.4 $ 2,385.8 $ 1,738.2 $ 7,184.7 $ 1,329.2 $ 12,637.9 DEALER CUSTOMER RETAIL OWNER/ At December 31, 2021 WHOLESALE RETAIL FLEET OPERATOR TOTAL Current and up to 30 days past due $ 1,865.4 $ 1,681.0 $ 6,939.7 $ 1,396.4 $ 11,882.5 31 – 60 days past due .4 9.3 1.8 11.5 Greater than 60 days past due 12.6 4.5 17.1 $ 1,865.8 $ 1,681.0 $ 6,961.6 $ 1,402.7 $ 11,911.1 The amortized cost basis of finance receivables that are on non-accrual status was as follows: DEALER CUSTOMER RETAIL OWNER/ At June 30, 2022 WHOLESALE RETAIL FLEET OPERATOR TOTAL Amortized cost basis with a specific reserve $ 45.8 $ 3.1 $ 48.9 Amortized cost basis with no specific reserve $ .9 9.9 .1 10.9 Total $ .9 $ 55.7 $ 3.2 $ 59.8 DEALER CUSTOMER RETAIL OWNER/ At December 31, 2021 WHOLESALE RETAIL FLEET OPERATOR TOTAL Amortized cost basis with a specific reserve $ 40.3 $ 5.7 $ 46.0 Amortized cost basis with no specific reserve $ 1.1 4.7 5.8 Total $ 1.1 $ 45.0 $ 5.7 $ 51.8 Interest income recognized on a cash basis for finance receivables that are on non-accrual status was as follows: Three Months Ended Six Months Ended June 30 June 30 2022 2021 2022 2021 Dealer: Retail $ .1 $ .1 $ .1 $ .1 Customer retail: Fleet 1.4 $ 1.4 $ 1.9 $ 2.4 Owner/operator .1 .1 .2 .2 $ 1.6 $ 1.6 $ 2.2 $ 2.7 Troubled Debt Restructurings The balance of TDRs was $38.1 and $41.6 at June 30, 2022 and December 31, 2021, respectively. At modification date, the pre-modification and post-modification amortized cost basis balances for finance receivables modified during the period by portfolio class are as follows: Three Months Ended Six Months Ended June 30, 2022 June 30, 2022 AMORTIZED COST BASIS AMORTIZED COST BASIS PRE- MODIFICATION POST- MODIFICATION PRE- MODIFICATION POST- MODIFICATION Fleet $ 7.5 $ 7.5 $ 8.1 $ 8.1 $ 7.5 $ 7.5 $ 8.1 $ 8.1 Three Months Ended Six Months Ended June 30, 2021 June 30, 2021 AMORTIZED COST BASIS AMORTIZED COST BASIS PRE- MODIFICATION POST- MODIFICATION PRE- MODIFICATION POST- MODIFICATION Fleet $ .2 $ .2 $ 4.8 $ 4.7 Owner/operator .1 .1 1.0 1.0 $ .3 $ .3 $ 5.8 $ 5.7 The effect on the allowance for credit losses from such modifications was not significant at June 30, 2022 and 2021. TDRs modified during the previous twelve months that subsequently defaulted (i.e., became more than 30 days past due) in the six months ended June 30, 2022 and 2021 were $.8 and $1.1, respectively. There were no finance receivables modified as TDRs during the previous twelve months that subsequently defaulted and were charged off in the six months ended June 30, 2022 and 2021, respectively. Repossessions When the Company determines a customer is not likely to meet its contractual commitments, the Company repossesses the vehicles which serve as collateral for the loans, finance leases and equipment under operating leases. The Company records the vehicles as used truck inventory included in Financial Services Other assets on the Consolidated Balance Sheets. The balance of repossessed inventory at June 30, 2022 and December 31, 2021 was $6.2 and $4.7, respectively. Proceeds from the sales of repossessed assets were $11.3 and $26.9 for the six months ended June 30, 2022 and 2021, respectively. These amounts are included in Proceeds from asset disposals in the Condensed Consolidated Statements of Cash Flows. Write-downs of repossessed equipment on operating leases are recorded as impairments and included in Financial Services Depreciation and other expenses on the Consolidated Statements of Comprehensive Income.

Product Support Liabilities

Product Support Liabilities	6 Months Ended
	Jun. 30, 2022
Product Warranties Disclosures [Abstract]
Product Support Liabilities	NOTE F - Product Support Liabilities Product support liabilities include estimated future payments related to product warranties and deferred revenues on optional extended warranties and R&M. 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. Changes in product support liabilities are summarized as follows: WARRANTY RESERVES 2022 2021 Balance at January 1 $ 344.3 $ 389.7 Cost accruals 159.8 157.1 Payments (187.8 ) (206.4 ) Change in estimates for pre-existing warranties 49.9 29.7 Currency translation and other (12.2 ) (1.4 ) Balance at June 30 $ 354.0 $ 368.7 DEFERRED REVENUES ON EXTENDED WARRANTIES AND R&M CONTRACTS 2022 2021 Balance at January 1 $ 775.2 $ 795.8 Deferred revenues 303.6 232.5 Revenues recognized (239.2 ) (238.7 ) Currency translation (31.1 ) (6.3 ) Balance at June 30 $ 808.5 $ 783.3 The Company expects to recognize approximately $140.7 of the remaining deferred revenue on extended warranties and R&M contracts in 2022, $252.6 in 2023, $218.0 in 2024, $114.0 in 2025, $57.7 in 2026 and $25.5 thereafter.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2022
Equity [Abstract]
Stockholders' Equity	NOTE G - Stockholders’ Equity Comprehensive Income The components of comprehensive income are as follow: Three Months Ended Six Months Ended June 30 June 30 2022 2021 2022 2021 Net income $ 720.4 $ 495.5 $ 1,320.9 $ 966.3 Other comprehensive income (loss) (OCI): Unrealized gains (losses) on derivative contracts 1.0 (1.1 ) 37.1 21.2 Tax effect (1.2 ) (1.9 ) (10.9 ) (6.0 ) (.2 ) (3.0 ) 26.2 15.2 Unrealized losses on marketable debt securities (10.4 ) (2.2 ) (44.5 ) (8.8 ) Tax effect 2.6 .6 11.1 2.2 (7.8 ) (1.6 ) (33.4 ) (6.6 ) Pension plans 19.9 13.4 30.2 26.3 Tax effect (5.1 ) (3.1 ) (7.5 ) (6.2 ) 14.8 10.3 22.7 20.1 Foreign currency translation (losses) gains (240.8 ) 81.1 (206.1 ) (8.0 ) Net other comprehensive (loss) income (234.0 ) 86.8 (190.6 ) 20.7 Comprehensive income $ 486.4 $ 582.3 $ 1,130.3 $ 987.0 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: Three Months Ended June 30, 2022 DERIVATIVE CONTRACTS MARKETABLE DEBT SECURITIES PENSION PLANS FOREIGN CURRENCY TRANSLATION TOTAL Balance at April 1, 2022 $ 12.9 $ (26.7 ) $ (261.9 ) $ (602.0 ) $ (877.7 ) Recorded into AOCI 16.4 (7.6 ) 7.9 (240.8 ) (224.1 ) Reclassified out of AOCI (16.6 ) (.2 ) 6.9 (9.9 ) Net other comprehensive (loss) income (.2 ) (7.8 ) 14.8 (240.8 ) (234.0 ) Balance at June 30, 2022 $ 12.7 $ (34.5 ) $ (247.1 ) $ (842.8 ) $ (1,111.7 ) Three Months Ended June 30, 2021 DERIVATIVE CONTRACTS MARKETABLE DEBT SECURITIES PENSION PLANS FOREIGN CURRENCY TRANSLATION TOTAL Balance at April 1, 2021 $ (11.0 ) $ 9.6 $ (568.3 ) $ (546.7 ) $ (1,116.4 ) Recorded into AOCI (18.6 ) (1.2 ) (1.6 ) 81.1 59.7 Reclassified out of AOCI 15.6 (.4 ) 11.9 27.1 Net other comprehensive (loss) income (3.0 ) (1.6 ) 10.3 81.1 86.8 Balance at June 30, 2021 $ (14.0 ) $ 8.0 $ (558.0 ) $ (465.6 ) $ (1,029.6 ) Six Months Ended June 30, 2022 DERIVATIVE CONTRACTS MARKETABLE DEBT SECURITIES PENSION PLANS FOREIGN CURRENCY TRANSLATION TOTAL Balance at January 1, 2022 $ (13.5 ) $ (1.1 ) $ (269.8 ) $ (636.7 ) $ (921.1 ) Recorded into AOCI 34.5 (33.1 ) 11.4 (206.1 ) (193.3 ) Reclassified out of AOCI (8.3 ) (.3 ) 11.3 2.7 Net other comprehensive income (loss) 26.2 (33.4 ) 22.7 (206.1 ) (190.6 ) Balance at June 30, 2022 $ 12.7 $ (34.5 ) $ (247.1 ) $ (842.8 ) $ (1,111.7 ) Six Months Ended June 30, 2021 DERIVATIVE CONTRACTS MARKETABLE DEBT SECURITIES PENSION PLANS FOREIGN CURRENCY TRANSLATION TOTAL Balance at January 1, 2021 $ (29.2 ) $ 14.6 $ (578.1 ) $ (457.6 ) $ (1,050.3 ) Recorded into AOCI 7.5 (5.7 ) (2.8 ) (8.0 ) (9.0 ) Reclassified out of AOCI 7.7 (.9 ) 22.9 29.7 Net other comprehensive income (loss) 15.2 (6.6 ) 20.1 (8.0 ) 20.7 Balance at June 30, 2021 $ (14.0 ) $ 8.0 $ (558.0 ) $ (465.6 ) $ (1,029.6 ) Reclassifications out of AOCI were as follows: Three Months Ended LINE ITEM IN THE CONSOLIDATED STATEMENTS June 30 AOCI COMPONENTS COMPREHENSIVE INCOME 2022 2021 Unrealized losses (gains) on derivative contracts: Truck, Parts and Other Foreign-exchange contracts Net sales and revenues $ 8.2 $ 5.1 Cost of sales and revenues (1.0 ) 3.7 Interest and other (income), net .1 Commodity contracts Cost of sales and revenues 5.5 Financial Services Interest-rate contracts Interest and other borrowing expenses (36.5 ) 12.2 Pre-tax expense (reduction) increase (23.8 ) 21.1 Tax expense (benefit) 7.2 (5.5 ) After-tax expense (reduction) increase (16.6 ) 15.6 Unrealized gains on marketable debt securities: Marketable debt securities Investment income (.3 ) (.6 ) Tax expense .1 .2 After-tax income increase (.2 ) (.4 ) Pension plans: Truck, Parts and Other Actuarial loss Interest and other (income), net 9.0 15.3 Prior service costs Interest and other (income), net .2 .2 Pre-tax expense increase 9.2 15.5 Tax benefit (2.3 ) (3.6 ) After-tax expense increase 6.9 11.9 Total reclassifications out of AOCI $ (9.9 ) $ 27.1 Six Months Ended LINE ITEM IN THE CONSOLIDATED STATEMENTS June 30 AOCI COMPONENTS COMPREHENSIVE INCOME 2022 2021 Unrealized losses (gains) on derivative contracts: Truck, Parts and Other Foreign-exchange contracts Net sales and revenues $ 15.1 $ 13.6 Cost of sales and revenues 2.7 6.0 Interest and other (income), net .3 .3 Commodity contracts Cost of sales and revenues 10.4 Financial Services Interest-rate contracts Interest and other borrowing expenses (43.1 ) (10.5 ) Pre-tax expense (reduction) increase (14.6 ) 9.4 Tax expense (benefit) 6.3 (1.7 ) After-tax expense (reduction) increase (8.3 ) 7.7 Unrealized gains on marketable debt securities: Marketable debt securities Investment income (.4 ) (1.2 ) Tax expense .1 .3 After-tax income increase (.3 ) (.9 ) Pension plans: Truck, Parts and Other Actuarial loss Interest and other (income), net 14.6 29.5 Prior service costs Interest and other (income), net .3 .4 Pre-tax expense increase 14.9 29.9 Tax benefit (3.6 ) (7.0 ) After-tax expense increase 11.3 22.9 Total reclassifications out of AOCI $ 2.7 $ 29.7 Stock Compensation Plans Stock-based compensation expense was $4.3 and $12.5 for the three months and six months ended June 30, 2022, respectively and $2.6 and $9.4 for the three months and six months ended June 30, 2021, respectively. During the first six months of 2022, the Company issued 385,904 common shares under deferred and stock compensation arrangements. Other Capital Stock Changes During the first six months of 2022, the Company acquired no treasury shares under the Company’s common stock repurchase plans. The Company acquired 20,983 shares under the Company’s Long-Term Incentive Plan. Stock repurchases of $390.0 million remain authorized under the current $500.0 million program approved by the PACCAR Board of Directors on December 4, 2018.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	NOTE H - Income Taxes The effective tax rate for the second quarter of 2022 was 21.9% compared to 22.6% for the second quarter of 2021. The effective tax rate for the first six months of 2022 was 22.0% compared to 22.6% for the same period of 2021. The lower effective tax rate in the second quarter and first half of 2022 was primarily due to the change in mix of income generated in jurisdictions with lower tax rates in 2022 as compared to 2021.

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2022
Segment Reporting [Abstract]
Segment Information	NOTE I - Segment Information PACCAR operates in three principal segments: Truck, Parts and Financial Services. The Company evaluates the performance of its Truck and Parts segments based on operating profits, which excludes investment income, other income and expense and income taxes. The Financial Services segment’s performance is evaluated based on income before income taxes. The accounting policies of the reportable segments are the same as those applied in the consolidated financial statements as described in Note A of the Company’s Annual Report on Form 10-K for the year ended December 31, 2021. 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. 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. 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. Three Months Ended Six Months Ended June 30 June 30 2022 2021 2022 2021 Net sales and revenues: Truck $ 5,499.5 $ 4,295.2 $ 10,335.0 $ 8,694.4 Less intersegment (163.1 ) (143.0 ) (301.5 ) (309.2 ) External customers 5,336.4 4,152.2 10,033.5 8,385.2 Parts 1,450.6 1,226.4 2,855.9 2,402.6 Less intersegment (15.9 ) (15.1 ) (32.3 ) (30.6 ) External customers 1,434.7 1,211.3 2,823.6 2,372.0 Other 15.1 24.1 35.5 43.9 6,786.2 5,387.6 12,892.6 10,801.1 Financial Services 372.5 456.3 738.7 888.3 $ 7,158.7 $ 5,843.9 $ 13,631.3 $ 11,689.4 Income before income taxes: Truck $ 422.1 $ 256.5 $ 698.8 $ 526.5 Parts 353.3 266.8 693.5 518.4 Other (3.1 ) 5.5 6.9 10.9 772.3 528.8 1,399.2 1,055.8 Financial Services 144.4 106.5 291.4 182.9 Investment (loss) income 5.4 5.0 2.9 9.9 $ 922.1 $ 640.3 $ 1,693.5 $ 1,248.6 Depreciation and amortization: Truck $ 77.7 $ 68.8 $ 149.3 $ 140.7 Parts 3.3 3.0 6.5 5.8 Other 6.2 5.3 11.9 10.7 87.2 77.1 167.7 157.2 Financial Services 109.7 153.6 214.9 325.2 $ 196.9 $ 230.7 $ 382.6 $ 482.4

Derivative Financial Instrument

Derivative Financial Instruments	6 Months Ended
	Jun. 30, 2022
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	NOTE J - Derivative Financial Instruments As part of its risk management strategy, the Company enters into derivative contracts to hedge against the risks of interest rates, foreign currency rates and commodity prices. 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 hedging 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, commodity as well as 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 $123.1 at June 30, 2022. The Company assesses hedges at inception and on an ongoing basis to determine that the designated derivatives are highly effective in offsetting changes in fair values or cash flow of the hedged items. 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 Condensed Consolidated Statements of Cash Flows. 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 June 30, 2022, the notional amount of the Company’s interest-rate contracts was $2,958.1. Notional maturities for all interest-rate contracts are $506.6 for the remainder of 2022, $679.1 for 2023, $664.1 for 2024, $838.6 for 2025, $200.1 for 2026, $61.1 for 2027 and $8.5 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 June 30, 2022, the notional amount of the outstanding foreign-exchange contracts was $2,194.9. Foreign-exchange contracts mature within two years. Commodity Contracts: The Company enters into commodity forward contracts to hedge the prices of certain commodities used in the production of trucks. The objective is to reduce the fluctuation in earnings and cash flows associated with movement in commodity prices. At June 30, 2022, the notional amount of the outstanding commodity contracts was $83.4. Commodity 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: June 30, 2022 December 31, 2021 ASSETS LIABILITIES ASSETS LIABILITIES Derivatives designated under hedge accounting: Interest-rate contracts: Financial Services: Other assets $ 70.2 $ 30.8 Deferred taxes and other liabilities $ 46.3 $ 54.4 Foreign-exchange contracts: Truck, Parts and Other: Other current assets 51.2 25.3 Accounts payable, accrued expenses and other 6.6 15.8 Financial Services: Other current assets .3 2.5 Deferred taxes and other liabilities 4.5 .1 Commodity contracts: Truck, Parts and Other: Accounts payable, accrued expenses and other 16.0 16.9 $ 121.7 $ 73.4 $ 58.6 $ 87.2 Derivatives not designated as hedging instruments: Foreign-exchange contracts: Truck, Parts and Other: Other current assets $ 1.2 $ 1.0 Accounts payable, accrued expenses and other $ .5 $ 1.1 Financial Services: Other assets .2 .1 Deferred taxes and other liabilities .1 .2 $ 1.4 $ .6 $ 1.1 $ 1.3 Gross amounts recognized in Balance Sheets $ 123.1 $ 74.0 $ 59.7 $ 88.5 Less amounts not offset in financial instruments: Truck, Parts and Other: Foreign-exchange contracts $ (5.2 ) $ (5.2 ) $ (2.7 ) $ (2.7 ) Financial Services: Foreign-exchange contracts (.3 ) (.3 ) (.2 ) (.2 ) Interest-rate contracts (11.2 ) (11.2 ) (12.8 ) (12.8 ) Pro forma net amount $ 106.4 $ 57.3 $ 44.0 $ 72.8 The following table presents the amount of loss (gain) from derivative financial instruments recorded in the Consolidated Statements of Comprehensive Income: Three Months Ended Six Months Ended June 30, 2022 June 30, 2022 INTEREST- FOREIGN- INTEREST- FOREIGN- RATE EXCHANGE RATE EXCHANGE Truck, Parts and Other: Net sales and revenues Cash flow hedges $ 8.2 $ 15.1 Cost of sales and revenues Cash flow hedges (1.0 ) 2.7 Derivatives not designated as hedging instruments .4 (.1 ) Interest and other (income), net Cash flow hedges .3 Net investment hedges (1.5 ) (2.8 ) Derivatives not designated as hedging instruments (.6 ) 1.3 $ 5.5 $ 16.5 Financial Services: Interest and other borrowing expenses Cash flow hedges $ (36.5 ) $ (43.1 ) Fair value hedges .2 .1 Derivatives not designated as hedging instruments $ .1 $ .2 $ (36.3 ) $ .1 $ (43.0 ) $ .2 Total $ (36.3 ) $ 5.6 $ (43.0 ) $ 16.7 Three Months Ended Six Months Ended June 30, 2021 June 30, 2021 INTEREST- FOREIGN- INTEREST- FOREIGN- RATE EXCHANGE RATE EXCHANGE Truck, Parts and Other: Net sales and revenues Cash flow hedges $ 5.1 $ 13.6 Cost of sales and revenues Cash flow hedges 3.7 6.0 Derivatives not designated as hedging instruments (8.6 ) (9.0 ) Interest and other (income), net Cash flow hedges .1 .3 Net investment hedges (.7 ) (1.7 ) Derivatives not designated as hedging instruments 3.0 1.6 $ 2.6 $ 10.8 Financial Services: Interest and other borrowing expenses Cash flow hedges $ 12.2 $ (10.5 ) Fair value hedges (.1 ) .1 Derivatives not designated as hedging instruments $ 1.4 $ (.4 ) $ 12.1 $ 1.4 $ (10.4 ) $ (.4 ) Total $ 12.1 $ 4.0 $ (10.4 ) $ 10.4 Utilization of commodity hedging was initiated in Q3 2021. The loss from commodity contracts recorded in Cost of sales and revenue was $5.5 and $10.4 for the three months and six months ended June 30, 2022. 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: June 30 December 31 2022 2021 Financial Services Term notes: Carrying amount of the hedged liabilities $ 395.6 $ 472.0 Cumulative 23.0 8.7 The above table excludes the cumulative basis adjustments on discontinued hedge relationships of $6.8 and $(.1) as of June 30, 2022 and December 31, 2021, respectively. Cash Flow Hedges Substantially all of the Company’s interest-rate contracts and some foreign-exchange contracts and all commodity 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 6.0 years. The following tables presents the pre-tax effects of gain (loss) on cash flow hedges recognized in other comprehensive income (loss) (OCI): Three Months Ended Six Months Ended June 30, 2022 June 30, 2022 INTEREST- FOREIGN- INTEREST- FOREIGN- RATE EXCHANGE COMMODITY RATE EXCHANGE COMMODITY Gain (loss) recognized in OCI: Truck, Parts and Other $ 28.5 $ (43.7 ) $ .1 $ (7.8 ) Financial Services $ 39.8 .2 $ 59.7 (.3 ) $ 39.8 $ 28.7 $ (43.7 ) $ 59.7 $ (.2 ) $ (7.8 ) Three Months Ended Six Months Ended June 30, 2021 June 30, 2021 INTEREST- FOREIGN- INTEREST- FOREIGN- RATE EXCHANGE COMMODITY RATE EXCHANGE COMMODITY (Loss) gain recognized in OCI: Truck, Parts and Other $ (11.1 ) $ (9.0 ) Financial Services $ (10.0 ) (1.1 ) $ 23.7 (2.9 ) $ (10.0 ) $ (12.2 ) $ 23.7 $ (11.9 ) The amount of loss recorded in AOCI at June 30, 2022 that is estimated to be reclassified into earnings in the following 12 months if interest rates and exchange rates remain unchanged is approximately $3.7, net of taxes. The fixed interest earned on finance receivables will offset the amount recognized in interest expense, resulting in a stable interest margin consistent with the Company’s risk management strategy. The amount of gains (losses) reclassified out of AOCI into net income based on the probability that the original forecasted transactions would not occur was nil 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 June 30, 2022, the notional amount of the outstanding net investment hedges was $347.0. For the three and six months ended June 30, 2022, the pre-tax gain recognized in OCI for the net investment hedges were $17.8 and $36.0, respectively. 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.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	NOTE K - Fair Value Measurements Fair value represents the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the Level 1 – Valuations are based on quoted prices that the Company has the ability to obtain in actively traded markets for identical assets or liabilities. Since valuations are based on quoted prices that are readily and regularly available in an active market or exchange traded market, valuation of these instruments does not require a significant degree of judgment. Level 2 – Valuations are based on quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market. Level 3 – Valuations are based on model-based techniques for which some or all of the assumptions are obtained from indirect market information that is significant to the overall fair value measurement and which require a significant degree of management judgment. The Company uses the following methods and assumptions to measure fair value for assets and liabilities subject to recurring fair value measurements. Marketable Debt 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. Marketable Equity Securities: The Company’s equity securities are traded on active exchanges and are classified as Level 1. Derivative Financial Instruments: The Company’s derivative contracts consist of interest-rate swaps, cross currency swaps, foreign currency exchange and commodity 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, forward rates and commodity prices 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 June 30, 2022 LEVEL 1 LEVEL 2 TOTAL Assets: Marketable debt securities U.S. tax-exempt securities $ 463.0 $ 463.0 U.S. taxable municipal/ provincial bonds 158.8 158.8 U.S. corporate securities 220.4 220.4 U.S. government and agency securities $ 119.1 119.1 Non-U.S. corporate securities 425.6 425.6 Non-U.S. government securities 75.4 75.4 Other debt securities 94.7 94.7 Total marketable debt securities $ 119.1 $ 1,437.9 $ 1,557.0 Marketable equity securities $ 2.2 $ 2.2 Total marketable securities $ 121.3 $ 1,437.9 $ 1,559.2 Derivatives Cross currency swaps $ 62.3 $ 62.3 Interest-rate swaps 7.9 7.9 Foreign-exchange contracts 52.9 52.9 Total derivative assets $ 123.1 $ 123.1 Liabilities: Derivatives Cross currency swaps $ 24.9 $ 24.9 Interest-rate swaps 21.4 21.4 Foreign-exchange contracts 11.7 11.7 Commodity contracts 16.0 16.0 Total derivative liabilities $ 74.0 $ 74.0 At December 31, 2021 LEVEL 1 LEVEL 2 TOTAL Assets: Marketable debt securities U.S. tax-exempt securities $ 432.5 $ 432.5 U.S. taxable municipal/ provincial bonds 191.6 191.6 U.S. corporate securities 207.4 207.4 U.S. government and agency securities $ 96.4 96.4 Non-U.S. corporate securities 442.8 442.8 Non-U.S. government securities 75.0 75.0 Other debt securities 100.0 100.0 Total marketable debt securities $ 96.4 $ 1,449.3 $ 1,545.7 Marketable equity securities $ 13.7 $ 13.7 Total marketable securities $ 110.1 $ 1,449.3 $ 1,559.4 Derivatives Cross currency swaps $ 18.2 $ 18.2 Interest-rate swaps 12.6 12.6 Foreign-exchange contracts 28.9 28.9 Total derivative assets $ 59.7 $ 59.7 Liabilities: Derivatives Cross currency swaps $ 33.1 $ 33.1 Interest-rate swaps 21.3 21.3 Foreign-exchange contracts 17.2 17.2 Commodity contracts 16.9 16.9 Total derivative liabilities $ 88.5 $ 88.5 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: June 30, 2022 December 31, 2021 CARRYING FAIR CARRYING FAIR AMOUNT VALUE AMOUNT VALUE Assets: Financial Services fixed rate loans $ 6,377.1 $ 6,205.1 $ 6,011.7 $ 6,018.2 Liabilities: Financial Services fixed rate debt 7,263.1 7,036.9 6,905.7 6,935.1

Employee Benefit Plans

Employee Benefit Plans	6 Months Ended
	Jun. 30, 2022
Compensation And Retirement Disclosure [Abstract]
Employee Benefit Plans	NOTE L - Employee Benefit Plans The Company has several defined benefit pension plans, which cover a majority of its employees. The following information details the components of net pension expense for the Company’s defined benefit plans: Three Months Ended Six Months Ended June 30 June 30 2022 2021 2022 2021 Service cost $ 43.3 $ 39.4 $ 75.8 $ 75.4 Interest on projected benefit obligation 23.8 16.7 42.9 33.3 Expected return on assets (60.1 ) (51.2 ) (108.8 ) (102.3 ) Amortization of prior service costs .2 .2 .3 .4 Recognized actuarial loss 9.0 15.3 14.6 29.5 Net pension expense $ 16.2 $ 20.4 $ 24.8 $ 36.3 The components of net pension expense other than service cost are included in Interest and other (income), net on the Consolidated Statements of Comprehensive Income. During the three months and six months ended June 30, 2022, the Company contributed $6.5 and $13.2 to its pension plans, respectively, and $6.7 and $12.9 for the three and six months ended June 30, 2021, respectively.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2022
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	NOTE M – Commitments and Contingencies On July 19, 2016, the European Commission (EC) concluded its investigation of all major European truck manufacturers and reached a settlement with DAF Trucks N.V., DAF Trucks Deutschland GmbH and PACCAR Inc (collectively “the Company”). Following the settlement, certain EC-related claims and lawsuits have been filed in various European jurisdictions against all major European truck manufacturers including the Company and certain subsidiaries. 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. In certain jurisdictions, the limitations period has not yet expired and additional claimants may bring EC-related claims and lawsuits against the Company or its subsidiaries. The legal proceedings are continuing to move through the court systems in the various jurisdictions with some larger cases scheduled for trial in 2022. While the Company believes it has meritorious defenses to all EC-related claims and lawsuits, the final disposition of all such claims and lawsuits will likely take a significant period of time to resolve and the final outcomes are highly uncertain. The Company cannot at this time reasonably estimate a range of loss, if any, that may result. An adverse final decision involving significant numbers of DAF truck sales could have a material impact on the Company’s results of operations and cash flows. 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.

Accounting Policies (Policies)

Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Sales and Revenues	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 following table disaggregates Truck, Parts and Other revenues by major sources: Three Months Ended Six Months Ended June 30 June 30 2022 2021 2022 2021 Truck Truck sales $ 5,130.2 $ 3,950.4 $ 9,611.3 $ 7,995.4 Revenues from extended warranties, operating leases and other 206.2 201.8 422.2 389.8 5,336.4 4,152.2 10,033.5 8,385.2 Parts Parts sales 1,394.5 1,176.1 2,742.6 2,302.0 Revenues from dealer services and other 40.2 35.2 81.0 70.0 1,434.7 1,211.3 2,823.6 2,372.0 Winch sales and other 15.1 24.1 35.5 43.9 Truck, Parts and Other sales and revenues $ 6,786.2 $ 5,387.6 $ 12,892.6 $ 10,801.1 The Company recognizes truck and parts sales as revenues 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 parts 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 an eight-year Aftermarket parts sales allow for returns which are estimated at the time of sale based on historical data. Parts dealer services and other revenues are recognized as services are performed. The following table presents the balance sheet classification of the estimated value of the truck assets to be returned goods assets and the related return liabilities: June 30, 2022 December 31, 2021 ASSETS LIABILITIES ASSETS LIABILITIES Trucks Other current assets $ 222.1 $ 255.7 Accounts payable, accrued expenses and other $ 226.2 $ 264.0 Other noncurrent assets, net 364.9 403.6 Other liabilities 383.0 423.9 $ 587.0 $ 609.2 $ 659.3 $ 687.9 Parts Other current assets $ 82.3 $ 72.9 Accounts payable, accrued expenses and other $ 193.8 $ 172.1 $ 82.3 $ 193.8 $ 72.9 $ 172.1 For contracts accounted for as a sale, the Company’s total commitment to acquire trucks at a guaranteed value was $1,074.7 at June 30, 2022. 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 F, 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. Deferred revenue related to trucks sold with an RVG was $72.7 at June 30, 2022. The Company expects to recognize approximately $16.3 of the remaining deferred revenue in 2022, $23.7 in 2023, $14.9 in 2024, $12.1 in 2025 and $5.7 in 2026. For the three and six months ended June 30, 2022, total operating lease revenue from truck sales with RVGs was $22.0 and $49.9, respectively compared to $29.7 and $50.3 for the three and six months ended June 30, 2021. The Company’s total commitment to acquire trucks at a guaranteed value for contracts accounted for as a lease was $199.0 at June 30, 2022. 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.
Inventories	Inventories are stated at the lower of cost or market. Cost of inventories is determined principally by the first-in, first-out (FIFO) method.
Allowance for Credit Losses	Allowance for Credit Losses The Company continuously monitors the payment performance of its finance receivables. For large retail finance customers and dealers with wholesale financing, the Company regularly reviews their financial statements and makes site visits and phone contact as appropriate. If the Company becomes aware of circumstances that could cause those customers or dealers to face financial difficulty, whether or not they are past due, the customers are placed on a watch list. The Company modifies loans and finance leases in the normal course of its Financial Services operations. The Company may modify loans and finance leases for commercial reasons or for credit reasons. Modifications for commercial reasons are changes to contract terms for customers that are not considered to be in financial difficulty. Insignificant delays are modifications extending terms up to three months for customers experiencing some short-term financial stress, but not considered to be in financial difficulty. Modifications for credit reasons are changes to contract terms for customers considered to be in financial difficulty. The Company’s modifications typically result in granting more time to pay the contractual amounts owed and charging a fee and interest for the term of the modification. When considering whether to modify customer accounts for credit reasons, the Company evaluates the creditworthiness of the customers and modifies those accounts that the Company considers likely to perform under the modified terms. When the Company modifies 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. On average, modifications extended contractual terms by approximately four months in 2022 and eight months in 2021, and did not have a significant effect on the weighted average term or interest rate of the total portfolio at June 30, 2022 and December 31, 2021. 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 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.
Product Support Liabilities	Product support liabilities include estimated future payments related to product warranties and deferred revenues on optional extended warranties and R&M. 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 the risks of interest rates, foreign currency rates and commodity prices. 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 hedging 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, commodity as well as 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 $123.1 at June 30, 2022. The Company assesses hedges at inception and on an ongoing basis to determine that the designated derivatives are highly effective in offsetting changes in fair values or cash flow of the hedged items. 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 Condensed Consolidated Statements of Cash Flows.
Fair Value Measurement Policy	Fair value represents the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the Level 1 – Valuations are based on quoted prices that the Company has the ability to obtain in actively traded markets for identical assets or liabilities. Since valuations are based on quoted prices that are readily and regularly available in an active market or exchange traded market, valuation of these instruments does not require a significant degree of judgment. Level 2 – Valuations are based on quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market. Level 3 – Valuations are based on model-based techniques for which some or all of the assumptions are obtained from indirect market information that is significant to the overall fair value measurement and which require a significant degree of management judgment. The Company uses the following methods and assumptions to measure fair value for assets and liabilities subject to recurring fair value measurements. Marketable Debt 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. Marketable Equity Securities: The Company’s equity securities are traded on active exchanges and are classified as Level 1. Derivative Financial Instruments: The Company’s derivative contracts consist of interest-rate swaps, cross currency swaps, foreign currency exchange and commodity 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, forward rates and commodity prices and are categorized as Level 2.

Basis of Presentation (Tables)

Basis of Presentation (Tables)	6 Months Ended
	Jun. 30, 2022
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Dilutive and Antidilutive Options	The dilutive and antidilutive options are shown separately in the table below. Three Months Ended Six Months Ended June 30 June 30 2022 2021 2022 2021 Additional shares 422,500 712,700 497,300 752,300 Antidilutive options 1,099,900 551,000 1,100,300 583,600
Cumulative Effect of Change in Consolidated Balance Sheet and Consolidated Income Statement	The effect of the changes made to the Company’s Consolidated Statements of Comprehensive Income was as follows: Three Months Ended June 30, 2021 AS ORIGINALLY REPORTED EFFECT OF CHANGE AS ADJUSTED Truck, Parts and Other Cost of sales and revenues $ 4,662.7 $ (3.3 ) $ 4,659.4 Income Taxes 144.1 .7 144.8 Net Income 492.9 2.6 495.5 Six Months Ended June 30, 2021 AS ORIGINALLY REPORTED EFFECT OF CHANGE AS ADJUSTED Truck, Parts and Other Cost of sales and revenues $ 9,353.4 $ (4.3 ) $ 9,349.1 Income Taxes 281.3 1.0 282.3 Net Income 963.0 3.3 966.3 The cumulative effect of the changes made to the Company’s Consolidated Balance Sheet was as follows: December 31, 2021 AS ORIGINALLY REPORTED EFFECT OF CHANGE AS ADJUSTED Truck, Parts and Other Inventories, net $ 1,768.3 $ 207.7 $ 1,976.0 Other liabilities 1,436.5 51.1 1,487.6 Retained earnings 11,869.2 156.6 12,025.8
Compare Currently Reported Amounts and Reported Under LIFO in Consolidated Balance Sheet and Consolidated Statements of Comprehensive Income	The following table compares the amounts currently reported to amounts that would have been reported under LIFO in the Consolidated Statements of Comprehensive Income. Three Months Ended June 30, 2022 AS REPORTED PRO FORMA UNDER LIFO EFFECT OF CHANGE Truck, Parts and Other Cost of sales and revenues $ 5,811.0 $ 5,825.6 $ (14.6 ) Income Taxes 201.7 198.1 3.6 Net Income 720.4 709.4 11.0 Net Income Per Share Basic $ 2.07 $ 2.04 $ .03 Diluted $ 2.07 $ 2.03 $ .04 Six Months Ended June 30, 2022 AS REPORTED PRO FORMA UNDER LIFO EFFECT OF CHANGE Truck, Parts and Other Cost of sales and revenues $ 11,096.5 $ 11,122.4 $ (25.9 ) Income Taxes 372.6 366.2 6.4 Net Income 1,320.9 1,301.4 19.5 Net Income Per Share Basic $ 3.79 $ 3.74 $ .05 Diluted $ 3.79 $ 3.73 $ .06 The effect of the change to income before income taxes within the Truck, Parts and Other segments for the three and six months ended June 30, 2022 would not be material. In addition, there would be no material effect on the Consolidated Statements of Cash Flows. The following table compares the amounts currently reported to amounts that would have been reported under LIFO in the Consolidated Balance Sheet. June 30, 2022 AS REPORTED PRO FORMA UNDER LIFO EFFECT OF CHANGE Truck, Parts and Other Inventories, net $ 2,232.2 $ 1,998.6 $ 233.6 Accounts payable, accrued expenses and other 4,537.0 4,479.5 57.5 Retained earnings 13,109.9 12,933.8 176.1

Sales and Revenues (Tables)

Sales and Revenues (Tables)	6 Months Ended
	Jun. 30, 2022
Schedule of Revenues by Major Sources	The following table disaggregates Truck, Parts and Other revenues by major sources: Three Months Ended Six Months Ended June 30 June 30 2022 2021 2022 2021 Truck Truck sales $ 5,130.2 $ 3,950.4 $ 9,611.3 $ 7,995.4 Revenues from extended warranties, operating leases and other 206.2 201.8 422.2 389.8 5,336.4 4,152.2 10,033.5 8,385.2 Parts Parts sales 1,394.5 1,176.1 2,742.6 2,302.0 Revenues from dealer services and other 40.2 35.2 81.0 70.0 1,434.7 1,211.3 2,823.6 2,372.0 Winch sales and other 15.1 24.1 35.5 43.9 Truck, Parts and Other sales and revenues $ 6,786.2 $ 5,387.6 $ 12,892.6 $ 10,801.1
Estimated Value of Returned Goods Assets and Related Return Liabilities	The following table presents the balance sheet classification of the estimated value of the truck assets to be returned goods assets and the related return liabilities: June 30, 2022 December 31, 2021 ASSETS LIABILITIES ASSETS LIABILITIES Trucks Other current assets $ 222.1 $ 255.7 Accounts payable, accrued expenses and other $ 226.2 $ 264.0 Other noncurrent assets, net 364.9 403.6 Other liabilities 383.0 423.9 $ 587.0 $ 609.2 $ 659.3 $ 687.9 Parts Other current assets $ 82.3 $ 72.9 Accounts payable, accrued expenses and other $ 193.8 $ 172.1 $ 82.3 $ 193.8 $ 72.9 $ 172.1
Financial Services
Summary of Financial Services Lease Revenues by Lease Type	The following table summarizes Financial Services lease revenues by lease type: Three Months Ended Six Months Ended June 30, 2022 June 30, 2022 2022 2021 2022 2021 Finance lease revenues $ 45.0 $ 48.4 $ 87.9 $ 96.1 Operating lease revenues 199.7 212.1 403.3 421.5 Total lease revenues $ 244.7 $ 260.5 $ 491.2 $ 517.6

Investments in Marketable Sec_2

Investments in Marketable Securities (Tables)	3 Months Ended
	Mar. 31, 2022
Investments Debt And Equity Securities [Abstract]
Marketable Securities	Marketable securities at June 30, 2022 and December 31, 2021 consisted of the following: UNREALIZED UNREALIZED FAIR At June 30, 2022 COST GAINS LOSSES VALUE Marketable debt securities U.S. tax-exempt securities $ 469.7 $ .3 $ 7.0 $ 463.0 U.S. taxable municipal/ provincial bonds 167.0 8.2 158.8 U.S. corporate securities 229.6 .1 9.3 220.4 U.S. government and agency securities 120.4 .2 1.5 119.1 Non-U.S. corporate securities 440.3 14.7 425.6 Non-U.S. government securities 77.3 .1 2.0 75.4 Other debt securities 98.8 4.1 94.7 Marketable equity securities 15.4 13.2 2.2 Total marketable securities $ 1,618.5 $ .7 $ 60.0 $ 1,559.2 UNREALIZED UNREALIZED FAIR At December 31, 2021 COST GAINS LOSSES VALUE Marketable debt securities U.S. tax-exempt securities $ 431.4 $ 1.5 $ .4 $ 432.5 U.S. taxable municipal/ provincial bonds 192.2 .6 1.2 191.6 U.S. corporate securities 208.3 .6 1.5 207.4 U.S. government and agency securities 95.9 .6 .1 96.4 Non-U.S. corporate securities 443.9 1.4 2.5 442.8 Non-U.S. government securities 75.2 .1 .3 75.0 Other debt securities 100.4 .3 .7 100.0 Marketable equity securities 15.4 1.3 3.0 13.7 Total marketable securities $ 1,562.7 $ 6.4 $ 9.7 $ 1,559.4
Marketable Debt Securities Continuous Unrealized Losses	Marketable debt securities with continuous unrealized losses and their related fair values were as follows: June 30, 2022 December 31, 2021 LESS THAN TWELVE MONTHS LESS THAN TWELVE MONTHS TWELVE MONTHS OR GREATER TWELVE MONTHS OR GREATER Fair value $ 1,233.6 $ 80.0 $ 911.2 $ 1.3 Unrealized losses 41.7 5.1 6.7
Contractual Maturities of Debt Securities	Contractual maturities of marketable debt securities at June 30, 2022 AMORTIZED FAIR COST VALUE Within one year $ 384.0 $ 381.8 One to five years 1,201.9 1,159.3 Six to ten years 4.0 3.9 More than ten years 13.2 12.0 $ 1,603.1 $ 1,557.0

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2022
Inventory Disclosure [Abstract]
Inventories	Inventories include the following: June 30 December 31 2022 2021 Finished products $ 792.1 $ 676.0 Work in process and raw materials 1,440.1 1,300.0 $ 2,232.2 $ 1,976.0

Finance and Other Receivables (

Finance and Other Receivables (Tables)	6 Months Ended
	Jun. 30, 2022
Receivables [Abstract]
Finance and Other Receivables	Finance and other receivables include the following: June 30 December 31 2022 2021 Loans $ 6,720.9 $ 6,424.7 Finance leases 3,531.2 3,620.6 Dealer wholesale financing 2,385.8 1,865.8 Operating lease receivables and other 130.9 126.6 12,768.8 12,037.7 Less allowance for losses: Loans and leases (112.8 ) (111.5 ) Dealer wholesale financing (3.9 ) (3.3 ) Operating lease receivables and other (2.9 ) (2.1 ) $ 12,649.2 $ 11,920.8
Allowance for Credit Losses	The allowance for credit losses is summarized as follows: 2022 DEALER CUSTOMER WHOLESALE RETAIL RETAIL OTHER* TOTAL Balance at January 1 $ 3.3 $ 7.1 $ 104.4 $ 2.1 $ 116.9 Provision for losses .8 (2.5 ) 6.1 .2 4.6 Charge-offs (4.4 ) (.3 ) (4.7 ) Recoveries 3.3 .3 3.6 Currency translation and other (.2 ) (1.2 ) .6 (.8 ) Balance at June 30 $ 3.9 $ 4.6 $ 108.2 $ 2.9 $ 119.6 2021 DEALER CUSTOMER WHOLESALE RETAIL RETAIL OTHER* TOTAL Balance at January 1 $ 3.4 $ 8.4 $ 112.0 $ 3.2 $ 127.0 Provision for losses (.3 ) 2.7 .8 3.2 Charge-offs (6.9 ) (.6 ) (7.5 ) Recoveries 2.8 .2 3.0 Currency translation and other (.4 ) (.4 ) Balance at June 30 $ 3.4 $ 8.1 $ 110.2 $ 3.6 $ 125.3 * Operating leases and other trade receivables.
Amortized Cost Basis of Finance Receivables by Credit Quality Indicator and Portfolio Class	The tables below summarize the amortized cost basis of the Company’s finance receivables within each credit quality indicator by year of origination and portfolio class. REVOLVING At June 30, 2022 LOANS 2022 2021 2020 2019 2018 PRIOR TOTAL Dealer: Wholesale: Performing $ 2,379.6 $ 2,379.6 Watch 6.2 6.2 $ 2,385.8 $ 2,385.8 Retail: Performing $ 198.3 $ 295.1 $ 390.7 $ 258.6 $ 284.3 $ 147.0 $ 163.3 $ 1,737.3 At-risk .9 .9 $ 198.3 $ 295.1 $ 390.7 $ 258.6 $ 284.3 $ 147.0 $ 164.2 $ 1,738.2 Total dealer $ 2,584.1 $ 295.1 $ 390.7 $ 258.6 $ 284.3 $ 147.0 $ 164.2 $ 4,124.0 Customer retail: Fleet: Performing $ 1,734.3 $ 2,378.3 $ 1,634.1 $ 841.4 $ 365.3 $ 139.3 $ 7,092.7 Watch 1.1 10.0 3.6 8.6 3.6 .8 27.7 At-risk .6 10.6 14.4 28.8 8.2 1.7 64.3 $ 1,736.0 $ 2,398.9 $ 1,652.1 $ 878.8 $ 377.1 $ 141.8 $ 7,184.7 Owner/operator: Performing $ 265.3 $ 504.3 $ 308.8 $ 158.0 $ 68.8 $ 18.0 $ 1,323.2 Watch .2 .8 .9 .6 .2 2.7 At-risk .5 1.0 .9 .8 .1 3.3 $ 265.5 $ 505.6 $ 310.7 $ 159.5 $ 69.8 $ 18.1 $ 1,329.2 Total customer retail $ 2,001.5 $ 2,904.5 $ 1,962.8 $ 1,038.3 $ 446.9 $ 159.9 $ 8,513.9 Total $ 2,584.1 $ 2,296.6 $ 3,295.2 $ 2,221.4 $ 1,322.6 $ 593.9 $ 324.1 $ 12,637.9 REVOLVING At December 31, 2021 LOANS 2021 2020 2019 2018 2017 PRIOR TOTAL Dealer: Wholesale: Performing $ 1,859.7 $ 1,859.7 Watch 6.1 6.1 $ 1,865.8 $ 1,865.8 Retail: Performing $ 201.9 $ 434.4 $ 315.4 $ 311.7 $ 176.0 $ 118.2 $ 96.9 $ 1,654.5 Watch 7.0 3.6 9.1 4.6 1.1 25.4 At-risk 1.1 1.1 $ 201.9 $ 441.4 $ 319.0 $ 320.8 $ 180.6 $ 119.3 $ 98.0 $ 1,681.0 Total dealer $ 2,067.7 $ 441.4 $ 319.0 $ 320.8 $ 180.6 $ 119.3 $ 98.0 $ 3,546.8 Customer retail: Fleet: Performing $ 2,851.7 $ 1,913.3 $ 1,227.0 $ 608.4 $ 220.4 $ 66.5 $ 6,887.3 Watch 2.6 6.5 4.3 5.3 .6 .2 19.5 At-risk 6.0 8.5 26.0 10.6 3.3 .4 54.8 $ 2,860.3 $ 1,928.3 $ 1,257.3 $ 624.3 $ 224.3 $ 67.1 $ 6,961.6 Owner/operator: Performing $ 611.9 $ 389.9 $ 228.1 $ 116.0 $ 38.6 $ 10.1 $ 1,394.6 Watch .7 .5 .7 .4 .1 2.4 At-risk .2 1.3 1.5 2.0 .5 .2 5.7 $ 612.8 $ 391.7 $ 230.3 $ 118.4 $ 39.2 $ 10.3 $ 1,402.7 Total customer retail $ 3,473.1 $ 2,320.0 $ 1,487.6 $ 742.7 $ 263.5 $ 77.4 $ 8,364.3 Total $ 2,067.7 $ 3,914.5 $ 2,639.0 $ 1,808.4 $ 923.3 $ 382.8 $ 175.4 $ 11,911.1
Amortized Cost Basis of Financing Receivables by Aging Category	The tables below summarize the Company’s finance receivables by aging category. In determining past due status, the Company considers the entire contractual account balance past due when any installment is over 30 days past due. Substantially all customer accounts that were greater than 30 days past due prior to credit modification became current upon modification for aging purposes. DEALER CUSTOMER RETAIL OWNER/ At June 30, 2022 WHOLESALE RETAIL FLEET OPERATOR TOTAL Current and up to 30 days past due $ 2,384.5 $ 1,738.2 $ 7,144.0 $ 1,324.0 $ 12,590.7 31 – 60 days past due 1.3 9.6 1.9 12.8 Greater than 60 days past due 31.1 3.3 34.4 $ 2,385.8 $ 1,738.2 $ 7,184.7 $ 1,329.2 $ 12,637.9 DEALER CUSTOMER RETAIL OWNER/ At December 31, 2021 WHOLESALE RETAIL FLEET OPERATOR TOTAL Current and up to 30 days past due $ 1,865.4 $ 1,681.0 $ 6,939.7 $ 1,396.4 $ 11,882.5 31 – 60 days past due .4 9.3 1.8 11.5 Greater than 60 days past due 12.6 4.5 17.1 $ 1,865.8 $ 1,681.0 $ 6,961.6 $ 1,402.7 $ 11,911.1
Summary of Amortized Cost Basis of Finance Receivables that are on Non-Accrual Status	The amortized cost basis of finance receivables that are on non-accrual status was as follows: DEALER CUSTOMER RETAIL OWNER/ At June 30, 2022 WHOLESALE RETAIL FLEET OPERATOR TOTAL Amortized cost basis with a specific reserve $ 45.8 $ 3.1 $ 48.9 Amortized cost basis with no specific reserve $ .9 9.9 .1 10.9 Total $ .9 $ 55.7 $ 3.2 $ 59.8 DEALER CUSTOMER RETAIL OWNER/ At December 31, 2021 WHOLESALE RETAIL FLEET OPERATOR TOTAL Amortized cost basis with a specific reserve $ 40.3 $ 5.7 $ 46.0 Amortized cost basis with no specific reserve $ 1.1 4.7 5.8 Total $ 1.1 $ 45.0 $ 5.7 $ 51.8
Interest Income Recognized on Cash Basis for Finance Receivables that are on Non-Accrual Status	Interest income recognized on a cash basis for finance receivables that are on non-accrual status was as follows: Three Months Ended Six Months Ended June 30 June 30 2022 2021 2022 2021 Dealer: Retail $ .1 $ .1 $ .1 $ .1 Customer retail: Fleet 1.4 $ 1.4 $ 1.9 $ 2.4 Owner/operator .1 .1 .2 .2 $ 1.6 $ 1.6 $ 2.2 $ 2.7
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 are as follows: Three Months Ended Six Months Ended June 30, 2022 June 30, 2022 AMORTIZED COST BASIS AMORTIZED COST BASIS PRE- MODIFICATION POST- MODIFICATION PRE- MODIFICATION POST- MODIFICATION Fleet $ 7.5 $ 7.5 $ 8.1 $ 8.1 $ 7.5 $ 7.5 $ 8.1 $ 8.1 Three Months Ended Six Months Ended June 30, 2021 June 30, 2021 AMORTIZED COST BASIS AMORTIZED COST BASIS PRE- MODIFICATION POST- MODIFICATION PRE- MODIFICATION POST- MODIFICATION Fleet $ .2 $ .2 $ 4.8 $ 4.7 Owner/operator .1 .1 1.0 1.0 $ .3 $ .3 $ 5.8 $ 5.7

Product Support Liabilities (Ta

Product Support Liabilities (Tables)	6 Months Ended
	Jun. 30, 2022
Product Warranties Disclosures [Abstract]
Changes in Product Support Liabilities, Warranty Reserves	WARRANTY RESERVES 2022 2021 Balance at January 1 $ 344.3 $ 389.7 Cost accruals 159.8 157.1 Payments (187.8 ) (206.4 ) Change in estimates for pre-existing warranties 49.9 29.7 Currency translation and other (12.2 ) (1.4 ) Balance at June 30 $ 354.0 $ 368.7
Changes in Deferred Revenues on Extended Warranties and R&M Contracts	DEFERRED REVENUES ON EXTENDED WARRANTIES AND R&M CONTRACTS 2022 2021 Balance at January 1 $ 775.2 $ 795.8 Deferred revenues 303.6 232.5 Revenues recognized (239.2 ) (238.7 ) Currency translation (31.1 ) (6.3 ) Balance at June 30 $ 808.5 $ 783.3

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2022
Equity [Abstract]
Components of Comprehensive Income, Net of Related Tax	The components of comprehensive income are as follow: Three Months Ended Six Months Ended June 30 June 30 2022 2021 2022 2021 Net income $ 720.4 $ 495.5 $ 1,320.9 $ 966.3 Other comprehensive income (loss) (OCI): Unrealized gains (losses) on derivative contracts 1.0 (1.1 ) 37.1 21.2 Tax effect (1.2 ) (1.9 ) (10.9 ) (6.0 ) (.2 ) (3.0 ) 26.2 15.2 Unrealized losses on marketable debt securities (10.4 ) (2.2 ) (44.5 ) (8.8 ) Tax effect 2.6 .6 11.1 2.2 (7.8 ) (1.6 ) (33.4 ) (6.6 ) Pension plans 19.9 13.4 30.2 26.3 Tax effect (5.1 ) (3.1 ) (7.5 ) (6.2 ) 14.8 10.3 22.7 20.1 Foreign currency translation (losses) gains (240.8 ) 81.1 (206.1 ) (8.0 ) Net other comprehensive (loss) income (234.0 ) 86.8 (190.6 ) 20.7 Comprehensive income $ 486.4 $ 582.3 $ 1,130.3 $ 987.0
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: Three Months Ended June 30, 2022 DERIVATIVE CONTRACTS MARKETABLE DEBT SECURITIES PENSION PLANS FOREIGN CURRENCY TRANSLATION TOTAL Balance at April 1, 2022 $ 12.9 $ (26.7 ) $ (261.9 ) $ (602.0 ) $ (877.7 ) Recorded into AOCI 16.4 (7.6 ) 7.9 (240.8 ) (224.1 ) Reclassified out of AOCI (16.6 ) (.2 ) 6.9 (9.9 ) Net other comprehensive (loss) income (.2 ) (7.8 ) 14.8 (240.8 ) (234.0 ) Balance at June 30, 2022 $ 12.7 $ (34.5 ) $ (247.1 ) $ (842.8 ) $ (1,111.7 ) Three Months Ended June 30, 2021 DERIVATIVE CONTRACTS MARKETABLE DEBT SECURITIES PENSION PLANS FOREIGN CURRENCY TRANSLATION TOTAL Balance at April 1, 2021 $ (11.0 ) $ 9.6 $ (568.3 ) $ (546.7 ) $ (1,116.4 ) Recorded into AOCI (18.6 ) (1.2 ) (1.6 ) 81.1 59.7 Reclassified out of AOCI 15.6 (.4 ) 11.9 27.1 Net other comprehensive (loss) income (3.0 ) (1.6 ) 10.3 81.1 86.8 Balance at June 30, 2021 $ (14.0 ) $ 8.0 $ (558.0 ) $ (465.6 ) $ (1,029.6 ) Six Months Ended June 30, 2022 DERIVATIVE CONTRACTS MARKETABLE DEBT SECURITIES PENSION PLANS FOREIGN CURRENCY TRANSLATION TOTAL Balance at January 1, 2022 $ (13.5 ) $ (1.1 ) $ (269.8 ) $ (636.7 ) $ (921.1 ) Recorded into AOCI 34.5 (33.1 ) 11.4 (206.1 ) (193.3 ) Reclassified out of AOCI (8.3 ) (.3 ) 11.3 2.7 Net other comprehensive income (loss) 26.2 (33.4 ) 22.7 (206.1 ) (190.6 ) Balance at June 30, 2022 $ 12.7 $ (34.5 ) $ (247.1 ) $ (842.8 ) $ (1,111.7 ) Six Months Ended June 30, 2021 DERIVATIVE CONTRACTS MARKETABLE DEBT SECURITIES PENSION PLANS FOREIGN CURRENCY TRANSLATION TOTAL Balance at January 1, 2021 $ (29.2 ) $ 14.6 $ (578.1 ) $ (457.6 ) $ (1,050.3 ) Recorded into AOCI 7.5 (5.7 ) (2.8 ) (8.0 ) (9.0 ) Reclassified out of AOCI 7.7 (.9 ) 22.9 29.7 Net other comprehensive income (loss) 15.2 (6.6 ) 20.1 (8.0 ) 20.7 Balance at June 30, 2021 $ (14.0 ) $ 8.0 $ (558.0 ) $ (465.6 ) $ (1,029.6 )
Reclassifications Out of Accumulated Other Comprehensive Income	Reclassifications out of AOCI were as follows: Three Months Ended LINE ITEM IN THE CONSOLIDATED STATEMENTS June 30 AOCI COMPONENTS COMPREHENSIVE INCOME 2022 2021 Unrealized losses (gains) on derivative contracts: Truck, Parts and Other Foreign-exchange contracts Net sales and revenues $ 8.2 $ 5.1 Cost of sales and revenues (1.0 ) 3.7 Interest and other (income), net .1 Commodity contracts Cost of sales and revenues 5.5 Financial Services Interest-rate contracts Interest and other borrowing expenses (36.5 ) 12.2 Pre-tax expense (reduction) increase (23.8 ) 21.1 Tax expense (benefit) 7.2 (5.5 ) After-tax expense (reduction) increase (16.6 ) 15.6 Unrealized gains on marketable debt securities: Marketable debt securities Investment income (.3 ) (.6 ) Tax expense .1 .2 After-tax income increase (.2 ) (.4 ) Pension plans: Truck, Parts and Other Actuarial loss Interest and other (income), net 9.0 15.3 Prior service costs Interest and other (income), net .2 .2 Pre-tax expense increase 9.2 15.5 Tax benefit (2.3 ) (3.6 ) After-tax expense increase 6.9 11.9 Total reclassifications out of AOCI $ (9.9 ) $ 27.1 Six Months Ended LINE ITEM IN THE CONSOLIDATED STATEMENTS June 30 AOCI COMPONENTS COMPREHENSIVE INCOME 2022 2021 Unrealized losses (gains) on derivative contracts: Truck, Parts and Other Foreign-exchange contracts Net sales and revenues $ 15.1 $ 13.6 Cost of sales and revenues 2.7 6.0 Interest and other (income), net .3 .3 Commodity contracts Cost of sales and revenues 10.4 Financial Services Interest-rate contracts Interest and other borrowing expenses (43.1 ) (10.5 ) Pre-tax expense (reduction) increase (14.6 ) 9.4 Tax expense (benefit) 6.3 (1.7 ) After-tax expense (reduction) increase (8.3 ) 7.7 Unrealized gains on marketable debt securities: Marketable debt securities Investment income (.4 ) (1.2 ) Tax expense .1 .3 After-tax income increase (.3 ) (.9 ) Pension plans: Truck, Parts and Other Actuarial loss Interest and other (income), net 14.6 29.5 Prior service costs Interest and other (income), net .3 .4 Pre-tax expense increase 14.9 29.9 Tax benefit (3.6 ) (7.0 ) After-tax expense increase 11.3 22.9 Total reclassifications out of AOCI $ 2.7 $ 29.7

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2022
Segment Reporting [Abstract]
Segment Reporting Information by Segment	Three Months Ended Six Months Ended June 30 June 30 2022 2021 2022 2021 Net sales and revenues: Truck $ 5,499.5 $ 4,295.2 $ 10,335.0 $ 8,694.4 Less intersegment (163.1 ) (143.0 ) (301.5 ) (309.2 ) External customers 5,336.4 4,152.2 10,033.5 8,385.2 Parts 1,450.6 1,226.4 2,855.9 2,402.6 Less intersegment (15.9 ) (15.1 ) (32.3 ) (30.6 ) External customers 1,434.7 1,211.3 2,823.6 2,372.0 Other 15.1 24.1 35.5 43.9 6,786.2 5,387.6 12,892.6 10,801.1 Financial Services 372.5 456.3 738.7 888.3 $ 7,158.7 $ 5,843.9 $ 13,631.3 $ 11,689.4 Income before income taxes: Truck $ 422.1 $ 256.5 $ 698.8 $ 526.5 Parts 353.3 266.8 693.5 518.4 Other (3.1 ) 5.5 6.9 10.9 772.3 528.8 1,399.2 1,055.8 Financial Services 144.4 106.5 291.4 182.9 Investment (loss) income 5.4 5.0 2.9 9.9 $ 922.1 $ 640.3 $ 1,693.5 $ 1,248.6 Depreciation and amortization: Truck $ 77.7 $ 68.8 $ 149.3 $ 140.7 Parts 3.3 3.0 6.5 5.8 Other 6.2 5.3 11.9 10.7 87.2 77.1 167.7 157.2 Financial Services 109.7 153.6 214.9 325.2 $ 196.9 $ 230.7 $ 382.6 $ 482.4

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2022
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: June 30, 2022 December 31, 2021 ASSETS LIABILITIES ASSETS LIABILITIES Derivatives designated under hedge accounting: Interest-rate contracts: Financial Services: Other assets $ 70.2 $ 30.8 Deferred taxes and other liabilities $ 46.3 $ 54.4 Foreign-exchange contracts: Truck, Parts and Other: Other current assets 51.2 25.3 Accounts payable, accrued expenses and other 6.6 15.8 Financial Services: Other current assets .3 2.5 Deferred taxes and other liabilities 4.5 .1 Commodity contracts: Truck, Parts and Other: Accounts payable, accrued expenses and other 16.0 16.9 $ 121.7 $ 73.4 $ 58.6 $ 87.2 Derivatives not designated as hedging instruments: Foreign-exchange contracts: Truck, Parts and Other: Other current assets $ 1.2 $ 1.0 Accounts payable, accrued expenses and other $ .5 $ 1.1 Financial Services: Other assets .2 .1 Deferred taxes and other liabilities .1 .2 $ 1.4 $ .6 $ 1.1 $ 1.3 Gross amounts recognized in Balance Sheets $ 123.1 $ 74.0 $ 59.7 $ 88.5 Less amounts not offset in financial instruments: Truck, Parts and Other: Foreign-exchange contracts $ (5.2 ) $ (5.2 ) $ (2.7 ) $ (2.7 ) Financial Services: Foreign-exchange contracts (.3 ) (.3 ) (.2 ) (.2 ) Interest-rate contracts (11.2 ) (11.2 ) (12.8 ) (12.8 ) Pro forma net amount $ 106.4 $ 57.3 $ 44.0 $ 72.8
Amount of Loss (Gain) from Derivative Financial Instruments Recorded in Consolidated Statements of Comprehensive Income	The following table presents the amount of loss (gain) from derivative financial instruments recorded in the Consolidated Statements of Comprehensive Income: Three Months Ended Six Months Ended June 30, 2022 June 30, 2022 INTEREST- FOREIGN- INTEREST- FOREIGN- RATE EXCHANGE RATE EXCHANGE Truck, Parts and Other: Net sales and revenues Cash flow hedges $ 8.2 $ 15.1 Cost of sales and revenues Cash flow hedges (1.0 ) 2.7 Derivatives not designated as hedging instruments .4 (.1 ) Interest and other (income), net Cash flow hedges .3 Net investment hedges (1.5 ) (2.8 ) Derivatives not designated as hedging instruments (.6 ) 1.3 $ 5.5 $ 16.5 Financial Services: Interest and other borrowing expenses Cash flow hedges $ (36.5 ) $ (43.1 ) Fair value hedges .2 .1 Derivatives not designated as hedging instruments $ .1 $ .2 $ (36.3 ) $ .1 $ (43.0 ) $ .2 Total $ (36.3 ) $ 5.6 $ (43.0 ) $ 16.7 Three Months Ended Six Months Ended June 30, 2021 June 30, 2021 INTEREST- FOREIGN- INTEREST- FOREIGN- RATE EXCHANGE RATE EXCHANGE Truck, Parts and Other: Net sales and revenues Cash flow hedges $ 5.1 $ 13.6 Cost of sales and revenues Cash flow hedges 3.7 6.0 Derivatives not designated as hedging instruments (8.6 ) (9.0 ) Interest and other (income), net Cash flow hedges .1 .3 Net investment hedges (.7 ) (1.7 ) Derivatives not designated as hedging instruments 3.0 1.6 $ 2.6 $ 10.8 Financial Services: Interest and other borrowing expenses Cash flow hedges $ 12.2 $ (10.5 ) Fair value hedges (.1 ) .1 Derivatives not designated as hedging instruments $ 1.4 $ (.4 ) $ 12.1 $ 1.4 $ (10.4 ) $ (.4 ) Total $ 12.1 $ 4.0 $ (10.4 ) $ 10.4
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: June 30 December 31 2022 2021 Financial Services Term notes: Carrying amount of the hedged liabilities $ 395.6 $ 472.0 Cumulative 23.0 8.7
Pre-Tax Effects of Gain (Loss) Derivative Instruments Recognized in OCI	The following tables presents the pre-tax effects of gain (loss) on cash flow hedges recognized in other comprehensive income (loss) (OCI): Three Months Ended Six Months Ended June 30, 2022 June 30, 2022 INTEREST- FOREIGN- INTEREST- FOREIGN- RATE EXCHANGE COMMODITY RATE EXCHANGE COMMODITY Gain (loss) recognized in OCI: Truck, Parts and Other $ 28.5 $ (43.7 ) $ .1 $ (7.8 ) Financial Services $ 39.8 .2 $ 59.7 (.3 ) $ 39.8 $ 28.7 $ (43.7 ) $ 59.7 $ (.2 ) $ (7.8 ) Three Months Ended Six Months Ended June 30, 2021 June 30, 2021 INTEREST- FOREIGN- INTEREST- FOREIGN- RATE EXCHANGE COMMODITY RATE EXCHANGE COMMODITY (Loss) gain recognized in OCI: Truck, Parts and Other $ (11.1 ) $ (9.0 ) Financial Services $ (10.0 ) (1.1 ) $ 23.7 (2.9 ) $ (10.0 ) $ (12.2 ) $ 23.7 $ (11.9 )

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2022
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 June 30, 2022 LEVEL 1 LEVEL 2 TOTAL Assets: Marketable debt securities U.S. tax-exempt securities $ 463.0 $ 463.0 U.S. taxable municipal/ provincial bonds 158.8 158.8 U.S. corporate securities 220.4 220.4 U.S. government and agency securities $ 119.1 119.1 Non-U.S. corporate securities 425.6 425.6 Non-U.S. government securities 75.4 75.4 Other debt securities 94.7 94.7 Total marketable debt securities $ 119.1 $ 1,437.9 $ 1,557.0 Marketable equity securities $ 2.2 $ 2.2 Total marketable securities $ 121.3 $ 1,437.9 $ 1,559.2 Derivatives Cross currency swaps $ 62.3 $ 62.3 Interest-rate swaps 7.9 7.9 Foreign-exchange contracts 52.9 52.9 Total derivative assets $ 123.1 $ 123.1 Liabilities: Derivatives Cross currency swaps $ 24.9 $ 24.9 Interest-rate swaps 21.4 21.4 Foreign-exchange contracts 11.7 11.7 Commodity contracts 16.0 16.0 Total derivative liabilities $ 74.0 $ 74.0 At December 31, 2021 LEVEL 1 LEVEL 2 TOTAL Assets: Marketable debt securities U.S. tax-exempt securities $ 432.5 $ 432.5 U.S. taxable municipal/ provincial bonds 191.6 191.6 U.S. corporate securities 207.4 207.4 U.S. government and agency securities $ 96.4 96.4 Non-U.S. corporate securities 442.8 442.8 Non-U.S. government securities 75.0 75.0 Other debt securities 100.0 100.0 Total marketable debt securities $ 96.4 $ 1,449.3 $ 1,545.7 Marketable equity securities $ 13.7 $ 13.7 Total marketable securities $ 110.1 $ 1,449.3 $ 1,559.4 Derivatives Cross currency swaps $ 18.2 $ 18.2 Interest-rate swaps 12.6 12.6 Foreign-exchange contracts 28.9 28.9 Total derivative assets $ 59.7 $ 59.7 Liabilities: Derivatives Cross currency swaps $ 33.1 $ 33.1 Interest-rate swaps 21.3 21.3 Foreign-exchange contracts 17.2 17.2 Commodity contracts 16.9 16.9 Total derivative liabilities $ 88.5 $ 88.5
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: June 30, 2022 December 31, 2021 CARRYING FAIR CARRYING FAIR AMOUNT VALUE AMOUNT VALUE Assets: Financial Services fixed rate loans $ 6,377.1 $ 6,205.1 $ 6,011.7 $ 6,018.2 Liabilities: Financial Services fixed rate debt 7,263.1 7,036.9 6,905.7 6,935.1

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	6 Months Ended
	Jun. 30, 2022
Compensation And Retirement Disclosure [Abstract]
Components of Net Pension Expense	The following information details the components of net pension expense for the Company’s defined benefit plans: Three Months Ended Six Months Ended June 30 June 30 2022 2021 2022 2021 Service cost $ 43.3 $ 39.4 $ 75.8 $ 75.4 Interest on projected benefit obligation 23.8 16.7 42.9 33.3 Expected return on assets (60.1 ) (51.2 ) (108.8 ) (102.3 ) Amortization of prior service costs .2 .2 .3 .4 Recognized actuarial loss 9.0 15.3 14.6 29.5 Net pension expense $ 16.2 $ 20.4 $ 24.8 $ 36.3

Dilutive and Antidilutive Optio

Dilutive and Antidilutive Options (Detail) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Earnings Per Share [Abstract]
Additional shares	422,500	712,700	497,300	752,300
Antidilutive options	1,099,900	551,000	1,100,300	583,600

Basis of Presentation - Additio

Basis of Presentation - Additional Information (Detail) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021	Jan. 01, 2021	Dec. 31, 2020
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Percentage of inventories valued using LIFO method of accounting	41%
Retained earnings	$ 13,109.9	$ 12,025.8
ASU 2022-02
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Change in accounting principle, accounting standards update, adopted [true false]	true
Change in accounting principle, accounting standards update adoption date	Jan. 01, 2022
Change in accounting principle, accounting standards update, immaterial effect [true false]	true
ASU 2021-10
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Change in accounting principle, accounting standards update, adopted [true false]	true
Change in accounting principle, accounting standards update adoption date	Jan. 01, 2022
Change in accounting principle, accounting standards update, immaterial effect [true false]	true
ASU 2021-05
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Change in accounting principle, accounting standards update, adopted [true false]	true
Change in accounting principle, accounting standards update adoption date	Jan. 01, 2023
Change in accounting principle, accounting standards update, immaterial effect [true false]	true
ASU 2022-03
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Change in accounting principle, accounting standards update, adopted [true false]	true
Change in accounting principle, accounting standards update adoption date	Jan. 01, 2024
Change in accounting principle, accounting standards update, immaterial effect [true false]	true
Adjustment
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Retained earnings		$ 156.6
Cumulative Effect of Change in Accounting Principle | Adjustment
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Retained earnings			$ 11,148.5	$ 143.3

Cumulative Effect of Change in

Cumulative Effect of Change in Consolidated Income Statement (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Cost of sales and revenues		$ 4,659.4		$ 9,349.1
Income taxes	$ 201.7	144.8	$ 372.6	282.3
Net income	$ 720.4	495.5	$ 1,320.9	966.3
Originally Reported
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Cost of sales and revenues		4,662.7		9,353.4
Income taxes		144.1		281.3
Net income		492.9		963
Adjustment
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Cost of sales and revenues		(3.3)		(4.3)
Income taxes		0.7		1
Net income		$ 2.6		$ 3.3

Cumulative Effect of Change i_2

Cumulative Effect of Change in Consolidated Balance Sheet (Detail) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Inventories, net		$ 1,976
Other liabilities		1,487.6
Retained earnings	$ 13,109.9	12,025.8
Originally Reported
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Inventories, net		1,768.3
Other liabilities		1,436.5
Retained earnings		11,869.2
Adjustment
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Inventories, net		207.7
Other liabilities		51.1
Retained earnings		$ 156.6

Compare Currently Reported Amou

Compare Currently Reported Amounts and Reported Under LIFO in Consolidated Statements of Comprehensive Income (Detail) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Cost of sales and revenues		$ 4,659.4		$ 9,349.1
Income taxes	$ 201.7	144.8	$ 372.6	282.3
Net income	$ 720.4	$ 495.5	$ 1,320.9	$ 966.3
Net Income Per Share
Basic	$ 2.07	$ 1.42	$ 3.79	$ 2.78
Diluted	$ 2.07	$ 1.42	$ 3.79	$ 2.77
Truck, Parts and Other
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Cost of sales and revenues	$ 5,811		$ 11,096.5
Income taxes	201.7		372.6
Net income	$ 720.4		$ 1,320.9
Net Income Per Share
Basic	$ 2.07		$ 3.79
Diluted	$ 2.07		$ 3.79
Pro Forma Under LIFO | Truck, Parts and Other
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Cost of sales and revenues	$ 5,825.6		$ 11,122.4
Income taxes	198.1		366.2
Net income	$ 709.4		$ 1,301.4
Net Income Per Share
Basic	$ 2.04		$ 3.74
Diluted	$ 2.03		$ 3.73
Adjustment
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Cost of sales and revenues		$ (3.3)		$ (4.3)
Income taxes		0.7		1
Net income		$ 2.6		$ 3.3
Adjustment | Truck, Parts and Other
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Cost of sales and revenues	$ (14.6)		$ (25.9)
Income taxes	3.6		6.4
Net income	$ 11		$ 19.5
Net Income Per Share
Basic	$ 0.03		$ 0.05
Diluted	$ 0.04		$ 0.06

Compare Currently Reported Am_2

Compare Currently Reported Amounts and Reported Under LIFO in Consolidated Balance Sheet (Detail) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Inventories, net		$ 1,976
Retained earnings	$ 13,109.9	12,025.8
Truck, Parts and Other
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Inventories, net	2,232.2	1,976
Accounts payable, accrued expenses and other	4,537
Retained earnings	13,109.9
Pro Forma Under LIFO | Truck, Parts and Other
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Inventories, net	1,998.6
Accounts payable, accrued expenses and other	4,479.5
Retained earnings	12,933.8
Adjustment
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Inventories, net		207.7
Retained earnings		$ 156.6
Adjustment | Truck, Parts and Other
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Inventories, net	233.6
Accounts payable, accrued expenses and other	57.5
Retained earnings	$ 176.1

Schedule of Revenues by Major S

Schedule of Revenues by Major Sources (Detail) - Truck, Parts and Other - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Entity Wide Information Revenue From External Customer [Line Items]
Total sales and revenues	$ 6,786.2	$ 5,387.6	$ 12,892.6	$ 10,801.1
Trucks
Entity Wide Information Revenue From External Customer [Line Items]
Total sales and revenues	5,336.4	4,152.2	10,033.5	8,385.2
Trucks | Truck Sales
Entity Wide Information Revenue From External Customer [Line Items]
Total sales and revenues	5,130.2	3,950.4	9,611.3	7,995.4
Trucks | Revenues from extended warranties, operating leases and other
Entity Wide Information Revenue From External Customer [Line Items]
Total sales and revenues	206.2	201.8	422.2	389.8
Parts Subsegment
Entity Wide Information Revenue From External Customer [Line Items]
Total sales and revenues	1,434.7	1,211.3	2,823.6	2,372
Parts Subsegment | Parts
Entity Wide Information Revenue From External Customer [Line Items]
Total sales and revenues	1,394.5	1,176.1	2,742.6	2,302
Parts Subsegment | Revenues from dealer services and other
Entity Wide Information Revenue From External Customer [Line Items]
Total sales and revenues	40.2	35.2	81	70
Winch Sales and Other
Entity Wide Information Revenue From External Customer [Line Items]
Total sales and revenues	$ 15.1	$ 24.1	$ 35.5	$ 43.9

Sales and Revenues - Additional

Sales and Revenues - Additional Information (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Entity Wide Information Revenue From External Customer [Line Items]
Term used to calculate historical weighted average return rate			8 years
Payment to acquire commitment value			$ 1,074,700,000
Payment to acquire commitment related to lease value			199,000,000
Financial Services
Entity Wide Information Revenue From External Customer [Line Items]
Total Operating lease revenue	$ 199,700,000	$ 212,100,000	403,300,000	$ 421,500,000
Financing receivable, recorded investment, 90 days past due and still accruing	0		0		$ 0
Trucks | Truck Sales
Entity Wide Information Revenue From External Customer [Line Items]
Total Operating lease revenue	22,000,000	$ 29,700,000	49,900,000	$ 50,300,000
Deferred revenue	72,700,000		72,700,000
Deferred revenue recognize, in 2022	16,300,000		16,300,000
Deferred revenue recognize, in 2023	23,700,000		23,700,000
Deferred revenue recognize, in 2024	14,900,000		14,900,000
Deferred revenue recognize, in 2025	12,100,000		12,100,000
Deferred revenue recognize, in 2026	$ 5,700,000		$ 5,700,000
Minimum
Entity Wide Information Revenue From External Customer [Line Items]
Lease and guarantee periods (in years)			3 years
Minimum | Financial Services
Entity Wide Information Revenue From External Customer [Line Items]
Finance leases, lease term			3 years
Operating lease term	3 years		3 years
Maximum
Entity Wide Information Revenue From External Customer [Line Items]
Lease and guarantee periods (in years)			5 years
Warranty period			5 years
Maximum | Financial Services
Entity Wide Information Revenue From External Customer [Line Items]
Finance leases, lease term			5 years
Operating lease term	5 years		5 years

Estimated Value of Returned Goo

Estimated Value of Returned Goods Assets and Related Return Liabilities (Detail) - Truck, Parts and Other - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Trucks
Entity Wide Information Revenue From External Customer [Line Items]
Other current assets	$ 222.1	$ 255.7
Accounts payable, accrued expenses and other	226.2	264
Other noncurrent assets, net	364.9	403.6
Other liabilities	383	423.9
Assets	587	659.3
Liabilities	609.2	687.9
Parts Subsegment
Entity Wide Information Revenue From External Customer [Line Items]
Accounts payable, accrued expenses and other	193.8	172.1
Other noncurrent assets, net	82.3	72.9
Assets	82.3	72.9
Liabilities	$ 193.8	$ 172.1

Summary of Financial Services L

Summary of Financial Services Lease Revenues by Lease Type (Detail) - Financial Services - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Entity Wide Information Revenue From External Customer [Line Items]
Finance lease revenues	$ 45	$ 48.4	$ 87.9	$ 96.1
Operating lease revenues	199.7	212.1	403.3	421.5
Total lease revenues	$ 244.7	$ 260.5	$ 491.2	$ 517.6

Marketable Securities (Detail)

Marketable Securities (Detail) - Truck, Parts and Other - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Schedule Of Available For Sale Securities [Line Items]
Marketable debt securities, Cost	$ 1,603.1
Marketable debt securities, Fair Value	1,557
Marketable equity securities, Cost	15.4	$ 15.4
Marketable equity securities, Unrealized Gains		1.3
Marketable equity securities, Unrealized Losses	13.2	3
Marketable equity securities, Fair Value	2.2	13.7
Total marketable securities, Cost	1,618.5	1,562.7
Total marketable securities, Unrealized Gains	0.7	6.4
Total marketable securities, Unrealized Losses	60	9.7
Total marketable securities, Fair Value	1,559.2	1,559.4
U.S. tax-exempt securities
Schedule Of Available For Sale Securities [Line Items]
Marketable debt securities, Cost	469.7	431.4
Marketable debt securities, Unrealized Gains	0.3	1.5
Marketable debt securities, Unrealized Losses	7	0.4
Marketable debt securities, Fair Value	463	432.5
U.S. corporate securities
Schedule Of Available For Sale Securities [Line Items]
Marketable debt securities, Cost	229.6	208.3
Marketable debt securities, Unrealized Gains	0.1	0.6
Marketable debt securities, Unrealized Losses	9.3	1.5
Marketable debt securities, Fair Value	220.4	207.4
U.S. taxable municipal/ provincial bonds
Schedule Of Available For Sale Securities [Line Items]
Marketable debt securities, Cost	167	192.2
Marketable debt securities, Unrealized Gains		0.6
Marketable debt securities, Unrealized Losses	8.2	1.2
Marketable debt securities, Fair Value	158.8	191.6
U.S. government and agency securities
Schedule Of Available For Sale Securities [Line Items]
Marketable debt securities, Cost	120.4	95.9
Marketable debt securities, Unrealized Gains	0.2	0.6
Marketable debt securities, Unrealized Losses	1.5	0.1
Marketable debt securities, Fair Value	119.1	96.4
Non-U.S. corporate securities
Schedule Of Available For Sale Securities [Line Items]
Marketable debt securities, Cost	440.3	443.9
Marketable debt securities, Unrealized Gains		1.4
Marketable debt securities, Unrealized Losses	14.7	2.5
Marketable debt securities, Fair Value	425.6	442.8
Non-U.S. government securities
Schedule Of Available For Sale Securities [Line Items]
Marketable debt securities, Cost	77.3	75.2
Marketable debt securities, Unrealized Gains	0.1	0.1
Marketable debt securities, Unrealized Losses	2	0.3
Marketable debt securities, Fair Value	75.4	75
Other debt securities
Schedule Of Available For Sale Securities [Line Items]
Marketable debt securities, Cost	98.8	100.4
Marketable debt securities, Unrealized Gains		0.3
Marketable debt securities, Unrealized Losses	4.1	0.7
Marketable debt securities, Fair Value	$ 94.7	$ 100

Investments in Marketable Sec_3

Investments in Marketable Securities - Additional Information (Detail) - USD ($)	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Schedule Of Available For Sale Securities [Line Items]
Allowance for credit losses	$ 0		$ 0
Truck, Parts and Other
Schedule Of Available For Sale Securities [Line Items]
Gross realized gains from sales of marketable debt securities	400,000	$ 1,200,000
Gross realized loss from sales of marketable debt securities	$ 900,000	$ 100,000

Marketable Debt Securities Cont

Marketable Debt Securities Continuous Unrealized Losses (Detail) - Truck, Parts and Other - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Schedule Of Available For Sale Securities [Line Items]
Less than 12 Months Fair Value	$ 1,233.6	$ 911.2
Less than 12 Months Unrealized Losses	41.7	6.7
12 Months or Greater Fair value	80	$ 1.3
12 Months or Greater Unrealized losses	$ 5.1

Contractual Maturities of Marke

Contractual Maturities of Marketable Debt Securities (Detail) - Truck, Parts and Other $ in Millions	Jun. 30, 2022 USD ($)
Amortized Cost Maturities:
Within one year	$ 384
One to five years	1,201.9
Six to ten years	4
More than ten years	13.2
Marketable debt securities, Cost	1,603.1
Fair Value Maturities:
Within one year	381.8
One to five years	1,159.3
Six to ten years	3.9
More than ten years	12
Fair Value	$ 1,557

Inventories (Detail)

Inventories (Detail) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Inventory [Line Items]
Inventories, net		$ 1,976
Truck, Parts and Other
Inventory [Line Items]
Finished products	$ 792.1	676
Work in process and raw materials	1,440.1	1,300
Inventories, net	$ 2,232.2	$ 1,976

Finance and Other Receivables_2

Finance and Other Receivables (Detail) - USD ($) $ in Millions		Jun. 30, 2022	Dec. 31, 2021	Jun. 30, 2021	Dec. 31, 2020
Financial Services
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans		$ 6,720.9	$ 6,424.7
Finance leases		3,531.2	3,620.6
Dealer wholesale financing		2,385.8	1,865.8
Operating lease receivables and other		130.9	126.6
Finance and other receivables, net of deferred income		12,768.8	12,037.7
Less allowance for losses		(119.6)	(116.9)	$ (125.3)	$ (127)
Finance and other receivables, net		12,649.2	11,920.8
Loans and Leases
Accounts, Notes, Loans and Financing Receivable [Line Items]
Less allowance for losses		(112.8)	(111.5)
Dealer | Wholesale
Accounts, Notes, Loans and Financing Receivable [Line Items]
Less allowance for losses		(3.9)	(3.3)
Dealer | Wholesale | Financial Services
Accounts, Notes, Loans and Financing Receivable [Line Items]
Less allowance for losses		(3.9)	(3.3)	(3.4)	(3.4)
Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Less allowance for losses		(2.9)	(2.1)
Other | Financial Services
Accounts, Notes, Loans and Financing Receivable [Line Items]
Less allowance for losses	[1]	$ (2.9)	$ (2.1)	$ (3.6)	$ (3.2)
[1]Operating leases and other trade receivables.

Finance and Other Receivables -

Finance and Other Receivables - Additional Information (Detail) - USD ($)	6 Months Ended		12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accrued interest receivable	$ 31,900,000		$ 27,700,000
Loans accounted for as troubled debt restructurings	38,100,000		41,600,000
TDRs subsequently defaulted, amount	800,000	$ 1,100,000
TDRs charged-off during the period	0	0
Repossessed inventory	6,200,000		$ 4,700,000
Proceeds from the sales of repossessed assets	$ 11,300,000	$ 26,900,000
Financial Services
Accounts, Notes, Loans and Financing Receivable [Line Items]
Months contractual terms extended	4 months		8 months
Financial Services | Loans and Leases | Minimum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Contractual terms of retails loans and finance leases	3 years
Financial Services | Loans and Leases | Maximum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Contractual terms of retails loans and finance leases	5 years
Financial Services | Financing Receivable | Maximum | Revenue Benchmark | Customer Concentration Risk
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of portfolio assets	5%

Allowance for Credit Losses (De

Allowance for Credit Losses (Detail) - USD ($) $ in Millions		6 Months Ended
		Jun. 30, 2022	Jun. 30, 2021
Financing Receivable, Allowance for Credit Losses [Line Items]
Provision for losses		$ 4.6	$ 3.2
Dealer | Wholesale
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning Balance		3.3
Ending Balance		3.9
Other
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning Balance		2.1
Ending Balance		2.9
Financial Services
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning Balance		116.9	127
Provision for losses		4.6	3.2
Charge-offs		(4.7)	(7.5)
Recoveries		3.6	3
Currency translation and other		(0.8)	(0.4)
Ending Balance		119.6	125.3
Financial Services | Dealer | Wholesale
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning Balance		3.3	3.4
Provision for losses		0.8
Currency translation and other		(0.2)
Ending Balance		3.9	3.4
Financial Services | Dealer | Retail
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning Balance		7.1	8.4
Provision for losses		(2.5)	(0.3)
Ending Balance		4.6	8.1
Financial Services | Customer Retail
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning Balance		104.4	112
Provision for losses		6.1	2.7
Charge-offs		(4.4)	(6.9)
Recoveries		3.3	2.8
Currency translation and other		(1.2)	(0.4)
Ending Balance		108.2	110.2
Financial Services | Other
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning Balance	[1]	2.1	3.2
Provision for losses	[1]	0.2	0.8
Charge-offs	[1]	(0.3)	(0.6)
Recoveries	[1]	0.3	0.2
Currency translation and other	[1]	0.6
Ending Balance	[1]	$ 2.9	$ 3.6
[1]Operating leases and other trade receivables.

Amortized Cost Basis of Finance

Amortized Cost Basis of Finance Receivables by Credit Quality Indicator and Portfolio Class (Detail) - Financial Services - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Financing Receivable, Recorded Investment [Line Items]
Financed Receivables, By Origination Year, Loans	$ 2,584.1	$ 2,067.7
Financed Receivables, By Origination Year, Current Fiscal Year	2,296.6	3,914.5
Financing Receivable, Originated One Year before Current Fiscal Year	3,295.2	2,639
Financing Receivable, Originated Two Years before Current Fiscal Year	2,221.4	1,808.4
Financing Receivable, Originated Three Years before Current Fiscal Year	1,322.6	923.3
Financing Receivable, Originated Four Years before Current Fiscal Year	593.9	382.8
Financed Receivables, By Origination Year, Prior	324.1	175.4
Finance Receivables, Total	12,637.9	11,911.1
Dealer
Financing Receivable, Recorded Investment [Line Items]
Financed Receivables, By Origination Year, Loans	2,584.1	2,067.7
Financed Receivables, By Origination Year, Current Fiscal Year	295.1	441.4
Financing Receivable, Originated One Year before Current Fiscal Year	390.7	319
Financing Receivable, Originated Two Years before Current Fiscal Year	258.6	320.8
Financing Receivable, Originated Three Years before Current Fiscal Year	284.3	180.6
Financing Receivable, Originated Four Years before Current Fiscal Year	147	119.3
Financed Receivables, By Origination Year, Prior	164.2	98
Finance Receivables, Total	4,124	3,546.8
Dealer | Wholesale
Financing Receivable, Recorded Investment [Line Items]
Financed Receivables, By Origination Year, Loans	2,385.8	1,865.8
Finance Receivables, Total	2,385.8	1,865.8
Dealer | Wholesale | Performing
Financing Receivable, Recorded Investment [Line Items]
Financed Receivables, By Origination Year, Loans	2,379.6	1,859.7
Finance Receivables, Total	2,379.6	1,859.7
Dealer | Wholesale | Watch
Financing Receivable, Recorded Investment [Line Items]
Financed Receivables, By Origination Year, Loans	6.2	6.1
Finance Receivables, Total	6.2	6.1
Dealer | Retail
Financing Receivable, Recorded Investment [Line Items]
Financed Receivables, By Origination Year, Loans	198.3	201.9
Financed Receivables, By Origination Year, Current Fiscal Year	295.1	441.4
Financing Receivable, Originated One Year before Current Fiscal Year	390.7	319
Financing Receivable, Originated Two Years before Current Fiscal Year	258.6	320.8
Financing Receivable, Originated Three Years before Current Fiscal Year	284.3	180.6
Financing Receivable, Originated Four Years before Current Fiscal Year	147	119.3
Financed Receivables, By Origination Year, Prior	164.2	98
Finance Receivables, Total	1,738.2	1,681
Dealer | Retail | Performing
Financing Receivable, Recorded Investment [Line Items]
Financed Receivables, By Origination Year, Loans	198.3	201.9
Financed Receivables, By Origination Year, Current Fiscal Year	295.1	434.4
Financing Receivable, Originated One Year before Current Fiscal Year	390.7	315.4
Financing Receivable, Originated Two Years before Current Fiscal Year	258.6	311.7
Financing Receivable, Originated Three Years before Current Fiscal Year	284.3	176
Financing Receivable, Originated Four Years before Current Fiscal Year	147	118.2
Financed Receivables, By Origination Year, Prior	163.3	96.9
Finance Receivables, Total	1,737.3	1,654.5
Dealer | Retail | Watch
Financing Receivable, Recorded Investment [Line Items]
Financed Receivables, By Origination Year, Current Fiscal Year		7
Financing Receivable, Originated One Year before Current Fiscal Year		3.6
Financing Receivable, Originated Two Years before Current Fiscal Year		9.1
Financing Receivable, Originated Three Years before Current Fiscal Year		4.6
Financing Receivable, Originated Four Years before Current Fiscal Year		1.1
Finance Receivables, Total		25.4
Dealer | Retail | At-risk
Financing Receivable, Recorded Investment [Line Items]
Financed Receivables, By Origination Year, Prior	0.9	1.1
Finance Receivables, Total	0.9	1.1
Customer Retail
Financing Receivable, Recorded Investment [Line Items]
Financed Receivables, By Origination Year, Current Fiscal Year	2,001.5	3,473.1
Financing Receivable, Originated One Year before Current Fiscal Year	2,904.5	2,320
Financing Receivable, Originated Two Years before Current Fiscal Year	1,962.8	1,487.6
Financing Receivable, Originated Three Years before Current Fiscal Year	1,038.3	742.7
Financing Receivable, Originated Four Years before Current Fiscal Year	446.9	263.5
Financed Receivables, By Origination Year, Prior	159.9	77.4
Finance Receivables, Total	8,513.9	8,364.3
Customer Retail | Fleet
Financing Receivable, Recorded Investment [Line Items]
Financed Receivables, By Origination Year, Current Fiscal Year	1,736	2,860.3
Financing Receivable, Originated One Year before Current Fiscal Year	2,398.9	1,928.3
Financing Receivable, Originated Two Years before Current Fiscal Year	1,652.1	1,257.3
Financing Receivable, Originated Three Years before Current Fiscal Year	878.8	624.3
Financing Receivable, Originated Four Years before Current Fiscal Year	377.1	224.3
Financed Receivables, By Origination Year, Prior	141.8	67.1
Finance Receivables, Total	7,184.7	6,961.6
Customer Retail | Fleet | Performing
Financing Receivable, Recorded Investment [Line Items]
Financed Receivables, By Origination Year, Current Fiscal Year	1,734.3	2,851.7
Financing Receivable, Originated One Year before Current Fiscal Year	2,378.3	1,913.3
Financing Receivable, Originated Two Years before Current Fiscal Year	1,634.1	1,227
Financing Receivable, Originated Three Years before Current Fiscal Year	841.4	608.4
Financing Receivable, Originated Four Years before Current Fiscal Year	365.3	220.4
Financed Receivables, By Origination Year, Prior	139.3	66.5
Finance Receivables, Total	7,092.7	6,887.3
Customer Retail | Fleet | Watch
Financing Receivable, Recorded Investment [Line Items]
Financed Receivables, By Origination Year, Current Fiscal Year	1.1	2.6
Financing Receivable, Originated One Year before Current Fiscal Year	10	6.5
Financing Receivable, Originated Two Years before Current Fiscal Year	3.6	4.3
Financing Receivable, Originated Three Years before Current Fiscal Year	8.6	5.3
Financing Receivable, Originated Four Years before Current Fiscal Year	3.6	0.6
Financed Receivables, By Origination Year, Prior	0.8	0.2
Finance Receivables, Total	27.7	19.5
Customer Retail | Fleet | At-risk
Financing Receivable, Recorded Investment [Line Items]
Financed Receivables, By Origination Year, Current Fiscal Year	0.6	6
Financing Receivable, Originated One Year before Current Fiscal Year	10.6	8.5
Financing Receivable, Originated Two Years before Current Fiscal Year	14.4	26
Financing Receivable, Originated Three Years before Current Fiscal Year	28.8	10.6
Financing Receivable, Originated Four Years before Current Fiscal Year	8.2	3.3
Financed Receivables, By Origination Year, Prior	1.7	0.4
Finance Receivables, Total	64.3	54.8
Customer Retail | Owner/Operator
Financing Receivable, Recorded Investment [Line Items]
Financed Receivables, By Origination Year, Current Fiscal Year	265.5	612.8
Financing Receivable, Originated One Year before Current Fiscal Year	505.6	391.7
Financing Receivable, Originated Two Years before Current Fiscal Year	310.7	230.3
Financing Receivable, Originated Three Years before Current Fiscal Year	159.5	118.4
Financing Receivable, Originated Four Years before Current Fiscal Year	69.8	39.2
Financed Receivables, By Origination Year, Prior	18.1	10.3
Finance Receivables, Total	1,329.2	1,402.7
Customer Retail | Owner/Operator | Performing
Financing Receivable, Recorded Investment [Line Items]
Financed Receivables, By Origination Year, Current Fiscal Year	265.3	611.9
Financing Receivable, Originated One Year before Current Fiscal Year	504.3	389.9
Financing Receivable, Originated Two Years before Current Fiscal Year	308.8	228.1
Financing Receivable, Originated Three Years before Current Fiscal Year	158	116
Financing Receivable, Originated Four Years before Current Fiscal Year	68.8	38.6
Financed Receivables, By Origination Year, Prior	18	10.1
Finance Receivables, Total	1,323.2	1,394.6
Customer Retail | Owner/Operator | Watch
Financing Receivable, Recorded Investment [Line Items]
Financed Receivables, By Origination Year, Current Fiscal Year	0.2	0.7
Financing Receivable, Originated One Year before Current Fiscal Year	0.8	0.5
Financing Receivable, Originated Two Years before Current Fiscal Year	0.9	0.7
Financing Receivable, Originated Three Years before Current Fiscal Year	0.6	0.4
Financing Receivable, Originated Four Years before Current Fiscal Year	0.2	0.1
Finance Receivables, Total	2.7	2.4
Customer Retail | Owner/Operator | At-risk
Financing Receivable, Recorded Investment [Line Items]
Financed Receivables, By Origination Year, Current Fiscal Year		0.2
Financing Receivable, Originated One Year before Current Fiscal Year	0.5	1.3
Financing Receivable, Originated Two Years before Current Fiscal Year	1	1.5
Financing Receivable, Originated Three Years before Current Fiscal Year	0.9	2
Financing Receivable, Originated Four Years before Current Fiscal Year	0.8	0.5
Financed Receivables, By Origination Year, Prior	0.1	0.2
Finance Receivables, Total	$ 3.3	$ 5.7

Amortized Cost Basis of Financi

Amortized Cost Basis of Financing Receivables by Aging Category (Detail) - Financial Services - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Financing Receivable, Recorded Investment, Past Due [Line Items]
Finance Receivable	$ 12,637.9	$ 11,911.1
Current and up to 30 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Finance Receivable	12,590.7	11,882.5
31 - 60 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Finance Receivable	12.8	11.5
Greater than 60 days past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Finance Receivable	34.4	17.1
Dealer
Financing Receivable, Recorded Investment, Past Due [Line Items]
Finance Receivable	4,124	3,546.8
Dealer | Wholesale
Financing Receivable, Recorded Investment, Past Due [Line Items]
Finance Receivable	2,385.8	1,865.8
Dealer | Retail
Financing Receivable, Recorded Investment, Past Due [Line Items]
Finance Receivable	1,738.2	1,681
Dealer | Current and up to 30 days past due | Wholesale
Financing Receivable, Recorded Investment, Past Due [Line Items]
Finance Receivable	2,384.5	1,865.4
Dealer | Current and up to 30 days past due | Retail
Financing Receivable, Recorded Investment, Past Due [Line Items]
Finance Receivable	1,738.2	1,681
Dealer | 31 - 60 days past due | Wholesale
Financing Receivable, Recorded Investment, Past Due [Line Items]
Finance Receivable	1.3	0.4
Customer Retail
Financing Receivable, Recorded Investment, Past Due [Line Items]
Finance Receivable	8,513.9	8,364.3
Customer Retail | Fleet
Financing Receivable, Recorded Investment, Past Due [Line Items]
Finance Receivable	7,184.7	6,961.6
Customer Retail | Owner/Operator
Financing Receivable, Recorded Investment, Past Due [Line Items]
Finance Receivable	1,329.2	1,402.7
Customer Retail | Current and up to 30 days past due | Fleet
Financing Receivable, Recorded Investment, Past Due [Line Items]
Finance Receivable	7,144	6,939.7
Customer Retail | Current and up to 30 days past due | Owner/Operator
Financing Receivable, Recorded Investment, Past Due [Line Items]
Finance Receivable	1,324	1,396.4
Customer Retail | 31 - 60 days past due | Fleet
Financing Receivable, Recorded Investment, Past Due [Line Items]
Finance Receivable	9.6	9.3
Customer Retail | 31 - 60 days past due | Owner/Operator
Financing Receivable, Recorded Investment, Past Due [Line Items]
Finance Receivable	1.9	1.8
Customer Retail | Greater than 60 days past due | Fleet
Financing Receivable, Recorded Investment, Past Due [Line Items]
Finance Receivable	31.1	12.6
Customer Retail | Greater than 60 days past due | Owner/Operator
Financing Receivable, Recorded Investment, Past Due [Line Items]
Finance Receivable	$ 3.3	$ 4.5

Summary of Non-Accrual Loans an

Summary of Non-Accrual Loans and Finance Leases with Specific Reserve and No Specific Reserve (Details) - Financial Services - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Financing Receivable, Recorded Investment, Past Due [Line Items]
Amortized cost basis with a specific reserve	$ 48.9	$ 46
Amortized cost basis with no specific reserve	10.9	5.8
Total	59.8	51.8
Dealer | Retail
Financing Receivable, Recorded Investment, Past Due [Line Items]
Amortized cost basis with no specific reserve	0.9	1.1
Total	0.9	1.1
Customer Retail | Fleet
Financing Receivable, Recorded Investment, Past Due [Line Items]
Amortized cost basis with a specific reserve	45.8	40.3
Amortized cost basis with no specific reserve	9.9	4.7
Total	55.7	45
Customer Retail | Owner/Operator
Financing Receivable, Recorded Investment, Past Due [Line Items]
Amortized cost basis with a specific reserve	3.1	5.7
Amortized cost basis with no specific reserve	0.1
Total	$ 3.2	$ 5.7

Interest Income Recognized on C

Interest Income Recognized on Cash Basis for Finance Receivables that are on Non-Accrual Status (Detail) - Financial Services - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Interest income recognized:
Interest income recognized on a cash basis	$ 1.6	$ 1.6	$ 2.2	$ 2.7
Dealer | Retail
Interest income recognized:
Interest income recognized on a cash basis	0.1	0.1	0.1	0.1
Customer Retail | Fleet
Interest income recognized:
Interest income recognized on a cash basis	1.4	1.4	1.9	2.4
Customer Retail | Owner/Operator
Interest income recognized:
Interest income recognized on a cash basis	$ 0.1	$ 0.1	$ 0.2	$ 0.2

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	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Financing Receivable, Modifications [Line Items]
Pre-Modification, Amortized Cost Basis	$ 7.5	$ 0.3	$ 8.1	$ 5.8
Post-Modification, Amortized Cost Basis	7.5	0.3	8.1	5.7
Customer Retail | Fleet
Financing Receivable, Modifications [Line Items]
Pre-Modification, Amortized Cost Basis	7.5	0.2	8.1	4.8
Post-Modification, Amortized Cost Basis	$ 7.5	0.2	$ 8.1	4.7
Customer Retail | Owner/Operator
Financing Receivable, Modifications [Line Items]
Pre-Modification, Amortized Cost Basis		0.1		1
Post-Modification, Amortized Cost Basis		$ 0.1		$ 1

Product Support Liabilities - A

Product Support Liabilities - Additional Information (Detail) $ in Millions	6 Months Ended
	Jun. 30, 2022 USD ($)
Product Warranty Liability [Line Items]
Deferred revenue on extended warranties and R&M recognize, in 2022	$ 140.7
Deferred revenue on extended warranties and R&M recognize, in 2023	252.6
Deferred revenue on extended warranties and R&M recognize, in 2024	218
Deferred revenue on extended warranties and R&M recognize, in 2025	114
Deferred revenue on extended warranties and R&M recognize, in 2026	57.7
Deferred revenue on extended warranties and R&M recognize, thereafter	$ 25.5
Truck, Parts and Other
Product Warranty Liability [Line Items]
Standard product warranty, description	The Company generally offers one year warranties covering most of its vehicles and related aftermarket parts. For vehicles equipped with engines manufactured by PACCAR, the Company generally offers two year warranties on the engine.
Standard product warranty, term	1 year
Extended product warranty, description	Optional extended warranty and R&M contracts can be purchased for periods which generally range up to five years.
Truck, Parts and Other | Maximum
Product Warranty Liability [Line Items]
Extended product warranty, term	5 years
Truck, Parts and Other | Engines manufactured by PACCAR
Product Warranty Liability [Line Items]
Standard product warranty, term	2 years

Changes in Product Support Liab

Changes in Product Support Liabilities (Detail) - Truck, Parts and Other - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
WARRANTY RESERVES
Beginning balance	$ 344.3	$ 389.7
Cost accruals	159.8	157.1
Payments	(187.8)	(206.4)
Change in estimates for pre-existing warranties	49.9	29.7
Currency translation and other	(12.2)	(1.4)
Ending balance	354	368.7
DEFERRED REVENUES ON EXTENDED WARRANTIES AND R&M CONTRACTS
Beginning balance	775.2	795.8
Deferred revenues	303.6	232.5
Revenues recognized	(239.2)	(238.7)
Currency translation	(31.1)	(6.3)
Ending balance	$ 808.5	$ 783.3

Components of Comprehensive Inc

Components of Comprehensive Income, Net of Related Tax (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 720.4	$ 495.5	$ 1,320.9	$ 966.3
Other comprehensive income (loss) (OCI):
Unrealized gains (losses) on derivative contracts	1	(1.1)	37.1	21.2
Tax effect	(1.2)	(1.9)	(10.9)	(6)
Net current period OCI, unrealized gains (losses) on derivative contracts	(0.2)	(3)	26.2	15.2
Unrealized losses on marketable debt securities	(10.4)	(2.2)	(44.5)	(8.8)
Tax effect	2.6	0.6	11.1	2.2
Net current period OCI, unrealized gains and (losses) on marketable debt securities	(7.8)	(1.6)	(33.4)	(6.6)
Pension plans	19.9	13.4	30.2	26.3
Tax effect	(5.1)	(3.1)	(7.5)	(6.2)
Net current period OCI, pension plans	14.8	10.3	22.7	20.1
Foreign currency translation (losses) gains	(240.8)	81.1	(206.1)	(8)
Net other comprehensive (loss) income	(234)	86.8	(190.6)	20.7
Comprehensive income	$ 486.4	$ 582.3	$ 1,130.3	$ 987

Changes in Accumulated Other Co

Changes in Accumulated Other Comprehensive Income (Loss) by Component (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance			$ 11,594
Reclassified out of AOCI	$ (9.9)	$ 27.1	2.7	$ 29.7
Net other comprehensive (loss) income	(234)	86.8	(190.6)	20.7
Ending balance	12,518	11,330.3	12,518	11,330.3
Derivative Contracts
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	12.9	(11)	(13.5)	(29.2)
Recorded into AOCI	16.4	(18.6)	34.5	7.5
Reclassified out of AOCI	(16.6)	15.6	(8.3)	7.7
Net other comprehensive (loss) income	(0.2)	(3)	26.2	15.2
Ending balance	12.7	(14)	12.7	(14)
Marketable Debt Securities
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(26.7)	9.6	(1.1)	14.6
Recorded into AOCI	(7.6)	(1.2)	(33.1)	(5.7)
Reclassified out of AOCI	(0.2)	(0.4)	(0.3)	(0.9)
Net other comprehensive (loss) income	(7.8)	(1.6)	(33.4)	(6.6)
Ending balance	(34.5)	8	(34.5)	8
Pension Plans
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(261.9)	(568.3)	(269.8)	(578.1)
Recorded into AOCI	7.9	(1.6)	11.4	(2.8)
Reclassified out of AOCI	6.9	11.9	11.3	22.9
Net other comprehensive (loss) income	14.8	10.3	22.7	20.1
Ending balance	(247.1)	(558)	(247.1)	(558)
Foreign Currency Translation
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(602)	(546.7)	(636.7)	(457.6)
Recorded into AOCI	(240.8)	81.1	(206.1)	(8)
Net other comprehensive (loss) income	(240.8)	81.1	(206.1)	(8)
Ending balance	(842.8)	(465.6)	(842.8)	(465.6)
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(877.7)	(1,116.4)	(921.1)	(1,050.3)
Recorded into AOCI	(224.1)	59.7	(193.3)	(9)
Reclassified out of AOCI	(9.9)	27.1	2.7	29.7
Net other comprehensive (loss) income	(234)	86.8	(190.6)	20.7
Ending balance	$ (1,111.7)	$ (1,029.6)	$ (1,111.7)	$ (1,029.6)

Reclassifications Out of Accumu

Reclassifications Out of Accumulated Other Comprehensive Income (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Accumulated Other Comprehensive Income (Loss) [Line Items]
Cost of sales and revenues		$ 4,659.4		$ 9,349.1
Income before income taxes	$ (922.1)	(640.3)	$ (1,693.5)	(1,248.6)
Investment income	5.4	5	2.9	9.9
Tax (benefit) expense	201.7	144.8	372.6	282.3
Net Income (Loss)	(720.4)	(495.5)	(1,320.9)	(966.3)
Total reclassifications out of AOCI	(9.9)	27.1	2.7	29.7
Derivative Contracts
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total reclassifications out of AOCI	(16.6)	15.6	(8.3)	7.7
Derivative Contracts | Reclassification out of Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income (Loss) [Line Items]
Income before income taxes	(23.8)	21.1	(14.6)	9.4
Tax (benefit) expense	7.2	(5.5)	6.3	(1.7)
Net Income (Loss)	(16.6)	15.6	(8.3)	7.7
Marketable Debt Securities
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total reclassifications out of AOCI	(0.2)	(0.4)	(0.3)	(0.9)
Marketable Debt Securities | Reclassification out of Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income (Loss) [Line Items]
Investment income	(0.3)	(0.6)	(0.4)	(1.2)
Tax (benefit) expense	0.1	0.2	0.1	0.3
Net Income (Loss)	(0.2)	(0.4)	(0.3)	(0.9)
Truck, Parts and Other
Accumulated Other Comprehensive Income (Loss) [Line Items]
Net sales and revenues	(6,786.2)	(5,387.6)	(12,892.6)	(10,801.1)
Cost of sales and revenues	5,811		11,096.5
Tax (benefit) expense	201.7		372.6
Net Income (Loss)	(720.4)		(1,320.9)
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	8.2	5.1	15.1	13.6
Cost of sales and revenues	(1)	3.7	2.7	6
Interest and other (income), net		0.1	0.3	0.3
Truck, Parts and Other | Derivative Contracts | Commodity Contract | Reclassification out of Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income (Loss) [Line Items]
Net sales and revenues			10.4
Cost of sales and revenues	5.5
Truck, Parts and Other | Actuarial loss
Accumulated Other Comprehensive Income (Loss) [Line Items]
Interest and other (income), net	9	15.3	14.6	29.5
Truck, Parts and Other | Prior service costs
Accumulated Other Comprehensive Income (Loss) [Line Items]
Interest and other (income), net	0.2	0.2	0.3	0.4
Truck, Parts and Other | Settlement Loss
Accumulated Other Comprehensive Income (Loss) [Line Items]
Income before income taxes	9.2	15.5	14.9	29.9
Tax (benefit) expense	(2.3)	(3.6)	(3.6)	(7)
Net Income (Loss)	6.9	11.9	11.3	22.9
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	$ (36.5)	$ 12.2	$ (43.1)	$ (10.5)

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 04, 2018
Equity Class Of Treasury Stock [Line Items]
Stock-based compensation expense	$ 4,300,000	$ 2,600,000	$ 12,500,000	$ 9,400,000
Additional common shares issued under deferred and stock compensation arrangements			385,904
Long Term Incentive Plan
Equity Class Of Treasury Stock [Line Items]
Treasury stock purchases, shares			20,983
Common Stock Repurchase Plan
Equity Class Of Treasury Stock [Line Items]
Treasury stock purchases, shares			0
Stock repurchase programs, remaining authorized amount					$ 390,000,000
Stock repurchase programs, authorized amount					$ 500,000,000

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Effective tax rate	21.90%	22.60%	22%	22.60%

Segment Information - Additiona

Segment Information - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2022 Segment
Segment Reporting [Abstract]
Reportable segments	3

Segment Reporting Information b

Segment Reporting Information by Segment (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Segment Reporting Information [Line Items]
Revenues	$ 7,158.7	$ 5,843.9	$ 13,631.3	$ 11,689.4
Investment income	5.4	5	2.9	9.9
Total Income Before Income Taxes	922.1	640.3	1,693.5	1,248.6
Depreciation and amortization	196.9	230.7	382.6	482.4
Truck, Parts and Other
Segment Reporting Information [Line Items]
Net sales and revenues	6,786.2	5,387.6	12,892.6	10,801.1
Revenues	6,786.2	5,387.6	12,892.6	10,801.1
Income before income taxes	772.3	528.8	1,399.2	1,055.8
Depreciation and amortization	87.2	77.1	167.7	157.2
Truck, Parts and Other | Trucks
Segment Reporting Information [Line Items]
Net sales and revenues	5,336.4	4,152.2	10,033.5	8,385.2
Income before income taxes	422.1	256.5	698.8	526.5
Depreciation and amortization	77.7	68.8	149.3	140.7
Truck, Parts and Other | Trucks | Operating Segments
Segment Reporting Information [Line Items]
Net sales and revenues	5,499.5	4,295.2	10,335	8,694.4
Truck, Parts and Other | Trucks | Intersegment
Segment Reporting Information [Line Items]
Net sales and revenues	(163.1)	(143)	(301.5)	(309.2)
Truck, Parts and Other | Parts Subsegment
Segment Reporting Information [Line Items]
Net sales and revenues	1,434.7	1,211.3	2,823.6	2,372
Income before income taxes	353.3	266.8	693.5	518.4
Depreciation and amortization	3.3	3	6.5	5.8
Truck, Parts and Other | Parts Subsegment | Operating Segments
Segment Reporting Information [Line Items]
Net sales and revenues	1,450.6	1,226.4	2,855.9	2,402.6
Truck, Parts and Other | Parts Subsegment | Intersegment
Segment Reporting Information [Line Items]
Net sales and revenues	(15.9)	(15.1)	(32.3)	(30.6)
Truck, Parts and Other | Other
Segment Reporting Information [Line Items]
Net sales and revenues	15.1	24.1	35.5	43.9
Income before income taxes	(3.1)	5.5	6.9	10.9
Depreciation and amortization	6.2	5.3	11.9	10.7
Financial Services
Segment Reporting Information [Line Items]
Revenues	372.5	456.3	738.7	888.3
Income before income taxes	144.4	106.5	291.4	182.9
Depreciation and amortization	$ 109.7	$ 153.6	$ 214.9	$ 325.2

Derivative Financial Instrume_3

Derivative Financial Instruments - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative assets	$ 123.1		$ 123.1		$ 59.7
Fair Value Hedging
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Remaining cumulative basis adjustments on discontinued hedge relationship	6.8		$ 6.8		$ (0.1)
Cash Flow Hedging
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Maximum length of future cash flow hedges			6 years
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			$ 3.7
Reclassification from AOCI		$ 0.1	0.1
Net Investment Hedging
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative notional amount outstanding	347		347
Pre-tax (loss) gain recognized in OCI	17.8		36
Cost of sales and revenues
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Loss from commodity contracts	5.5		10.4
Interest-Rate Contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount of outstanding contracts	2,958.1		2,958.1
Notional maturities for interest-rate contracts, remainder of 2022	506.6		506.6
Notional maturities for interest-rate contracts 2023	679.1		679.1
Notional maturities for interest-rate contracts 2024	664.1		664.1
Notional maturities for interest-rate contracts 2025	838.6		838.6
Notional maturities for interest-rate contracts 2026	200.1		200.1
Notional maturities for interest-rate contracts 2027	61.1		61.1
Notional maturities for interest-rate contracts thereafter	8.5		8.5
Foreign-exchange contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative notional amount outstanding	2,194.9		$ 2,194.9
Foreign-exchange contracts maturity period			within two years
Commodity Contract
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative notional amount outstanding	$ 83.4		$ 83.4
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	Jun. 30, 2022	Dec. 31, 2021
ASSETS
Derivative assets	$ 123.1	$ 59.7
Pro forma net amount	106.4	44
LIABILITIES
Derivative liabilities	74	88.5
Pro forma net amount	57.3	72.8
Interest-Rate Contracts | Financial Services
ASSETS
Less amounts not offset in financial instruments	(11.2)	(12.8)
LIABILITIES
Less amounts not offset in financial instruments	(11.2)	(12.8)
Foreign-exchange contracts | Financial Services
ASSETS
Less amounts not offset in financial instruments	(0.3)	(0.2)
LIABILITIES
Less amounts not offset in financial instruments	(0.3)	(0.2)
Foreign-exchange contracts | Truck, Parts and Other
ASSETS
Less amounts not offset in financial instruments	(5.2)	(2.7)
LIABILITIES
Less amounts not offset in financial instruments	(5.2)	(2.7)
Designated under hedge accounting
ASSETS
Derivative assets	121.7	58.6
LIABILITIES
Derivative liabilities	73.4	87.2
Designated under hedge accounting | Interest-Rate Contracts | Financial Services | Other Assets
ASSETS
Derivative assets	70.2	30.8
Designated under hedge accounting | Interest-Rate Contracts | Financial Services | Deferred Taxes and Other Liabilities
LIABILITIES
Derivative liabilities	46.3	54.4
Designated under hedge accounting | Foreign-exchange contracts | Financial Services | Other current assets
ASSETS
Derivative assets	0.3	2.5
Designated under hedge accounting | Foreign-exchange contracts | Financial Services | Deferred Taxes and Other Liabilities
LIABILITIES
Derivative liabilities	4.5	0.1
Designated under hedge accounting | Foreign-exchange contracts | Truck, Parts and Other | Other current assets
ASSETS
Derivative assets	51.2	25.3
Designated under hedge accounting | Foreign-exchange contracts | Truck, Parts and Other | Accounts payable, accrued expenses and other
LIABILITIES
Derivative liabilities	6.6	15.8
Designated under hedge accounting | Commodity Contract | Truck, Parts and Other | Accounts payable, accrued expenses and other
LIABILITIES
Derivative liabilities	16	16.9
Not designated as hedging instruments
ASSETS
Derivative assets	1.4	1.1
LIABILITIES
Derivative liabilities	0.6	1.3
Not designated as hedging instruments | Foreign-exchange contracts | Financial Services | Other Assets
ASSETS
Derivative assets	0.2	0.1
Not designated as hedging instruments | Foreign-exchange contracts | Financial Services | Deferred Taxes and Other Liabilities
LIABILITIES
Derivative liabilities	0.1	0.2
Not designated as hedging instruments | Foreign-exchange contracts | Truck, Parts and Other | Other current assets
ASSETS
Derivative assets	1.2	1
Not designated as hedging instruments | Foreign-exchange contracts | Truck, Parts and Other | Accounts payable, accrued expenses and other
LIABILITIES
Derivative liabilities	$ 0.5	$ 1.1

Amount of Loss (Gain) from Deri

Amount of Loss (Gain) from Derivative Financial Instruments Recorded in Consolidated Statements of Comprehensive Income (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Interest-Rate Contracts
Derivative Instruments Gain Loss [Line Items]
Derivatives designated as hedging instruments (gain) loss	$ (36.3)	$ 12.1	$ (43)	$ (10.4)
Interest-Rate Contracts | Financial Services | Interest and other borrowing expenses
Derivative Instruments Gain Loss [Line Items]
Derivatives designated as hedging instruments (gain) loss	(36.3)	12.1	(43)	(10.4)
Interest-Rate Contracts | Cash Flow Hedging | Financial Services | Interest and other borrowing expenses
Derivative Instruments Gain Loss [Line Items]
Derivatives designated as hedging instruments (gain) loss	(36.5)	12.2	(43.1)	(10.5)
Interest-Rate Contracts | Fair Value Hedging | Financial Services | Interest and other borrowing expenses
Derivative Instruments Gain Loss [Line Items]
Derivatives designated as hedging instruments (gain) loss	0.2	(0.1)	0.1	0.1
Foreign-exchange contracts
Derivative Instruments Gain Loss [Line Items]
Derivatives designated as hedging instruments (gain) loss	5.6	4	16.7	10.4
Foreign-exchange contracts | Truck, Parts and Other
Derivative Instruments Gain Loss [Line Items]
Derivatives designated as hedging instruments (gain) loss	5.5	2.6	16.5	10.8
Foreign-exchange contracts | Truck, Parts and Other | Cost of sales and revenues | Not designated as hedging instruments
Derivative Instruments Gain Loss [Line Items]
Derivatives designated as hedging instruments (gain) loss	0.4	(8.6)	(0.1)	(9)
Foreign-exchange contracts | Truck, Parts and Other | Interest and other (income), net | Not designated as hedging instruments
Derivative Instruments Gain Loss [Line Items]
Derivatives designated as hedging instruments (gain) loss	(0.6)	3	1.3	1.6
Foreign-exchange contracts | Financial Services | Interest and other borrowing expenses
Derivative Instruments Gain Loss [Line Items]
Derivatives designated as hedging instruments (gain) loss	0.1	1.4	0.2	(0.4)
Foreign-exchange contracts | Financial Services | Interest and other borrowing expenses | Not designated as hedging instruments
Derivative Instruments Gain Loss [Line Items]
Derivatives designated as hedging instruments (gain) loss	0.1	1.4	0.2	(0.4)
Foreign-exchange contracts | Cash Flow Hedging | Truck, Parts and Other | Sales
Derivative Instruments Gain Loss [Line Items]
Derivatives designated as hedging instruments (gain) loss	8.2	5.1	15.1	13.6
Foreign-exchange contracts | Cash Flow Hedging | Truck, Parts and Other | Cost of sales and revenues
Derivative Instruments Gain Loss [Line Items]
Derivatives designated as hedging instruments (gain) loss	(1)	3.7	2.7	6
Foreign-exchange contracts | Cash Flow Hedging | Truck, Parts and Other | Interest and other (income), net
Derivative Instruments Gain Loss [Line Items]
Derivatives designated as hedging instruments (gain) loss		0.1	0.3	0.3
Foreign-exchange contracts | Net Investment Hedging | Truck, Parts and Other | Interest and other (income), net
Derivative Instruments Gain Loss [Line Items]
Derivatives designated as hedging instruments (gain) loss	$ (1.5)	$ (0.7)	$ (2.8)	$ (1.7)

Amounts Related to Cumulative B

Amounts Related to Cumulative Basis Adjustments for Fair Value Hedges (Detail) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Carrying amount of the hedged liabilities	$ 395.6	$ 472
Cumulative basis adjustment included in the carrying amount	$ 23	$ 8.7

Pre-Tax Effects of Gain (Loss)

Pre-Tax Effects of Gain (Loss) on Cash Flow Hedges Recognized in OCI (Detail) - Derivative Contracts - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Interest-Rate Contracts
Derivative [Line Items]
Gain (loss) recognized in OCI	$ 39.8	$ (10)	$ 59.7	$ 23.7
Foreign-exchange contracts
Derivative [Line Items]
Gain (loss) recognized in OCI	28.7	(12.2)	(0.2)	(11.9)
Commodity Contract
Derivative [Line Items]
Gain (loss) recognized in OCI	(43.7)		(7.8)
Truck, Parts and Other | Foreign-exchange contracts
Derivative [Line Items]
Gain (loss) recognized in OCI	28.5	(11.1)	0.1	(9)
Truck, Parts and Other | Commodity Contract
Derivative [Line Items]
Gain (loss) recognized in OCI	(43.7)		(7.8)
Financial Services | Interest-Rate Contracts
Derivative [Line Items]
Gain (loss) recognized in OCI	39.8	(10)	59.7	23.7
Financial Services | Foreign-exchange contracts
Derivative [Line Items]
Gain (loss) recognized in OCI	$ 0.2	$ (1.1)	$ (0.3)	$ (2.9)

Financial Assets and Liabilitie

Financial Assets and Liabilities Subject to Recurring Fair Value Measurements (Detail) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative assets	$ 123.1	$ 59.7
Derivative liabilities	74	88.5
Fair Value, Measurements, Recurring
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Marketable debt securities	1,557	1,545.7
Marketable equity securities, Fair Value	2.2	13.7
Total marketable securities	1,559.2	1,559.4
Derivative assets	123.1	59.7
Derivative liabilities	74	88.5
Fair Value, Measurements, Recurring | Level 1
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Marketable debt securities	119.1	96.4
Marketable equity securities, Fair Value	2.2	13.7
Total marketable securities	121.3	110.1
Fair Value, Measurements, Recurring | Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Marketable debt securities	1,437.9	1,449.3
Total marketable securities	1,437.9	1,449.3
Derivative assets	123.1	59.7
Derivative liabilities	74	88.5
Fair Value, Measurements, Recurring | Cross currency swaps
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative assets	62.3	18.2
Derivative liabilities	24.9	33.1
Fair Value, Measurements, Recurring | Cross currency swaps | Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative assets	62.3	18.2
Derivative liabilities	24.9	33.1
Fair Value, Measurements, Recurring | Interest-rate swaps
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative assets	7.9	12.6
Derivative liabilities	21.4	21.3
Fair Value, Measurements, Recurring | Interest-rate swaps | Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative assets	7.9	12.6
Derivative liabilities	21.4	21.3
Fair Value, Measurements, Recurring | Foreign-exchange contracts
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative assets	52.9	28.9
Derivative liabilities	11.7	17.2
Fair Value, Measurements, Recurring | Foreign-exchange contracts | Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative assets	52.9	28.9
Derivative liabilities	11.7	17.2
Fair Value, Measurements, Recurring | Commodity Contract
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative liabilities	16	16.9
Fair Value, Measurements, Recurring | Commodity Contract | Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative liabilities	16	16.9
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	463	432.5
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	463	432.5
U.S. taxable municipal/ provincial bonds | Fair Value, Measurements, Recurring
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Marketable debt securities	158.8	191.6
U.S. taxable municipal/ provincial bonds | Fair Value, Measurements, Recurring | Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Marketable debt securities	158.8	191.6
U.S. corporate securities | Fair Value, Measurements, Recurring
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Marketable debt securities	220.4	207.4
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	220.4	207.4
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	119.1	96.4
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	119.1	96.4
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	425.6	442.8
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	425.6	442.8
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	75.4	75
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	75.4	75
Other debt securities | Fair Value, Measurements, Recurring
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Marketable debt securities	94.7	100
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	$ 94.7	$ 100

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	Jun. 30, 2022	Dec. 31, 2021
Assets, carrying amount
Fixed-rate loans	$ 6,377.1	$ 6,011.7
Liabilities, carrying amount
Fixed-rate debt	7,263.1	6,905.7
Assets, Fair Value
Fixed-rate loans	6,205.1	6,018.2
Liabilities, Fair Value
Fixed-rate debt	$ 7,036.9	$ 6,935.1

Components of Net Pension Expen

Components of Net Pension Expense (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Defined Benefit Plan Net Periodic Benefit Cost [Abstract]
Service cost	$ 43.3	$ 39.4	$ 75.8	$ 75.4
Interest on projected benefit obligation	23.8	16.7	42.9	33.3
Expected return on assets	(60.1)	(51.2)	(108.8)	(102.3)
Amortization of prior service costs	0.2	0.2	0.3	0.4
Recognized actuarial loss	9	15.3	14.6	29.5
Net pension expense	$ 16.2	$ 20.4	$ 24.8	$ 36.3

Employee Benefit Plans - Additi

Employee Benefit Plans - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Defined Benefit Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Contribution to pension plans	$ 6.5	$ 6.7	$ 13.2	$ 12.9