Equipment On Operating Leases

12 Months Ended

Dec. 31, 2024

Lessor Disclosure [Abstract]

Equipment On Operating Leases

F.EQUIPMENT ON OPERATING LEASES

A summary of equipment on operating leases for Truck, Parts and Other and for the Financial Services segment is presented below:

	TRUCK, PARTS AND OTHER						FINANCIAL SERVICES
At December 31,		2024			2023			2024			2023
Equipment on operating leases	$	90.4		$	177.4		$	2,858.8		$	3,365.3
Less allowance for depreciation		(21.2	)		(49.8	)		(967.4	)		(1,189.9	)
	$	69.2		$	127.6		$	1,891.4		$	2,175.4

Annual minimum lease payments due on Financial Services operating leases beginning January 1, 2025 are $506.9, $370.4, $260.0, $152.6, $57.9 and $13.1 thereafter.

When the equipment is sold subject to a RVG, the full sales price is received from the customer. A liability is established for the residual value obligation with the remainder of the proceeds recorded as deferred lease revenue. These amounts are summarized below:

	TRUCK, PARTS AND OTHER
At December 31,		2024		2023
Residual value guarantees	$	60.2	$	119.7
Deferred lease revenues		20.1		22.9
	$	80.3	$	142.6

Annual maturities of the RVGs beginning January 1, 2025 are $41.5, $9.0, $6.5, $2.4, $.8 and nil thereafter. The deferred lease revenue is amortized on a straight-line basis over the RVG contract period. At December 31, 2024, the annual amortization of deferred revenues beginning January 1, 2025 are $9.0, $5.5, $3.3, $2.3 and nil thereafter.