Stockholders' Equity (Tables)

9 Months Ended

Sep. 30, 2016

Equity [Abstract]

Components of Comprehensive Income, Net of Related Tax

The components of comprehensive income are as follows:

	Three Months Ended September 30						Nine Months Ended September 30
	2016			2015			2016			2015
Net income	$	346.2		$	431.2		$	232.9		$	1,256.8
Other comprehensive income (loss) (OCI):
Unrealized gains on derivative contracts		5.1			3.7			8.0			6.7
Tax effect		(2.2	)		(.9	)		(2.7	)		(1.5	)
		2.9			2.8			5.3			5.2
Unrealized (losses) gains on marketable debt securities		(3.7	)					2.1			(2.5	)
Tax effect		1.2						(.6	)		.7
		(2.5	)					1.5			(1.8	)
Pension plans		10.3			17.8			32.7			41.5
Tax effect		(3.4	)		(5.8	)		(10.6	)		(13.9	)
		6.9			12.0			22.1			27.6
Foreign currency translation (losses) gains		(6.9	)		(163.4	)		61.4			(409.4	)
Net other comprehensive income (loss)		.4			(148.6	)		90.3			(378.4	)
Comprehensive income	$	346.6		$	282.6		$	323.2		$	878.4

Changes in Accumulated Other Comprehensive Income (loss) by Component

The components of AOCI and the changes in AOCI, net of tax, included in the Consolidated Balance Sheets consisted of the following:

Three Months Ended September 30, 2016	Derivative Contracts			Marketable Debt Securities			Pension Plans			Foreign Currency Translation			Total
Balance at July 1, 2016	$	(4.0	)	$	6.1		$	(375.2	)	$	(554.0	)	$	(927.1	)
Recorded into AOCI		(7.9	)		(.7	)		2.1			(6.9	)		(13.4	)
Reclassified out of AOCI		10.8			(1.8	)		4.8						13.8
Net other comprehensive income (loss)		2.9			(2.5	)		6.9			(6.9	)		.4
Balance at September 30, 2016	$	(1.1	)	$	3.6		$	(368.3	)	$	(560.9	)	$	(926.7	)
Three Months Ended September 30, 2015	Derivative Contracts			Marketable Debt Securities			Pension Plans			Foreign Currency Translation			Total
Balance at July 1, 2015	$	(11.1	)	$	3.5		$	(417.5	)	$	(384.5	)	$	(809.6	)
Recorded into AOCI		26.3			.2			5.1			(163.4	)		(131.8	)
Reclassified out of AOCI		(23.5	)		(.2	)		6.9						(16.8	)
Net other comprehensive income (loss)		2.8						12.0			(163.4	)		(148.6	)
Balance at September 30, 2015	$	(8.3	)	$	3.5		$	(405.5	)	$	(547.9	)	$	(958.2	)
Nine Months Ended September 30, 2016	Derivative Contracts			Marketable Debt Securities			Pension Plans			Foreign Currency Translation			Total
Balance at January 1, 2016	$	(6.4	)	$	2.1		$	(390.4	)	$	(622.3	)	$	(1,017.0	)
Recorded into AOCI		(33.9	)		4.1			7.8			61.4			39.4
Reclassified out of AOCI		39.2			(2.6	)		14.3						50.9
Net other comprehensive income		5.3			1.5			22.1			61.4			90.3
Balance at September 30, 2016	$	(1.1	)	$	3.6		$	(368.3	)	$	(560.9	)	$	(926.7	)
Nine Months Ended September 30, 2015	Derivative Contracts			Marketable Debt Securities			Pension Plans			Foreign Currency Translation			Total
Balance at January 1, 2015	$	(13.5	)	$	5.3		$	(433.1	)	$	(138.5	)	$	(579.8	)
Recorded into AOCI		31.2			(.8	)		6.9			(409.4	)		(372.1	)
Reclassified out of AOCI		(26.0	)		(1.0	)		20.7						(6.3	)
Net other comprehensive income (loss)		5.2			(1.8	)		27.6			(409.4	)		(378.4	)
Balance at September 30, 2015	$	(8.3	)	$	3.5		$	(405.5	)	$	(547.9	)	$	(958.2	)

Reclassifications Out of Accumulated Other Comprehensive Income

Reclassifications out of AOCI during the three months ended September 30, 2016 and 2015 are as follows:

AOCI Components	Line Item in the Consolidated Statements of Comprehensive Income	Three Months Ended September 30
		2016			2015
Unrealized (gains) and losses on derivative contracts:
Truck, Parts and Other
Foreign-exchange contracts	Net sales and revenues	$	(11.1	)	$	(.3	)
	Cost of sales and revenues					(.6	)
	Interest and other expense, net		(.3	)		(1.5	)
Financial Services
Interest-rate contracts	Interest and other borrowing expenses		28.2			(29.3	)
	Pre-tax expense increase (reduction)		16.8			(31.7	)
	Tax (benefit) expense		(6.0	)		8.2
	After-tax expense increase (reduction)		10.8			(23.5	)
Unrealized (gains) and losses on marketable debt securities:
Marketable debt securities	Investment income		(2.4	)		(.3	)
	Tax expense		.6			.1
	After-tax income increase		(1.8	)		(.2	)
Pension plans:
Truck, Parts and Other
Actuarial loss	Cost of sales and revenues		3.4			5.6
	Selling, general and administrative		3.2			4.3
			6.6			9.9
Prior service costs	Cost of sales and revenues		.2			.2
	Selling, general and administrative		.1			.1
			.3			.3
Financial Services
Actuarial loss	Selling, general and administrative		.3			.4
	Pre-tax expense increase		7.2			10.6
	Tax benefit		(2.4	)		(3.7	)
	After-tax expense increase		4.8			6.9
Total reclassifications out of AOCI		$	13.8		$	(16.8	)

Reclassifications out of AOCI during the nine months ended September 30, 2016 and 2015 are as follows:

AOCI Components	Line Item in the Consolidated Statements of Comprehensive Income	Nine Months Ended September 30
		2016			2015
Unrealized (gains) and losses on derivative contracts:
Truck, Parts and Other
Foreign-exchange contracts	Net sales and revenues	$	(17.6	)
	Cost of sales and revenues		.6		$	2.8
	Interest and other expense, net		1.6			(3.2	)
Financial Services
Interest-rate contracts	Interest and other borrowing expenses		78.5			(37.1	)
	Pre-tax expense increase (reduction)		63.1			(37.5	)
	Tax (benefit) expense		(23.9	)		11.5
	After-tax expense increase (reduction)		39.2			(26.0	)
Unrealized (gains) and losses on marketable debt securities:
Marketable debt securities	Investment income		(3.5	)		(1.4	)
	Tax expense		.9			.4
	After-tax income increase		(2.6	)		(1.0	)
Pension plans:
Truck, Parts and Other
Actuarial loss	Cost of sales and revenues		10.3			16.8
	Selling, general and administrative		9.7			12.8
			20.0			29.6
Prior service costs	Cost of sales and revenues		.7			.7
	Selling, general and administrative		.2			.2
			.9			.9
Financial Services
Actuarial loss	Selling, general and administrative		.8			1.3
	Pre-tax expense increase		21.7			31.8
	Tax benefit		(7.4	)		(11.1	)
	After-tax expense increase		14.3			20.7
Total reclassifications out of AOCI		$	50.9		$	(6.3)