Stockholders' Equity (Tables)

3 Months Ended

Mar. 31, 2019

The components of comprehensive income are as follow:

Three Months Ended March 31,	2019			2018
Net income	$	629.0		$	512.1
Other comprehensive (loss) income (OCI):
Unrealized losses on derivative contracts		(15.8	)		(4.1	)
Tax effect		4.2			1.6
		(11.6	)		(2.5	)
Unrealized gains (losses) on marketable debt securities		6.2			(2.6	)
Tax effect		(1.6	)		.6
		4.6			(2.0	)
Pension plans		.7			2.6
Tax effect		(.1	)		(.6	)
		.6			2.0
Foreign currency translation gains		9.4			77.8
Net other comprehensive income		3.0			75.3
Comprehensive income	$	632.0		$	587.4

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

	DERIVATIVE CONTRACTS			MARKETABLE DEBT SECURITIES			PENSION PLANS			FOREIGN CURRENCY TRANSLATION			TOTAL
Balance at January 1, 2019	$	2.0		$	(2.3	)	$	(477.8	)	$	(620.4	)	$	(1,098.5	)
Recorded into AOCI		(22.7	)		4.6			(3.1	)		9.4			(11.8	)
Reclassified out of AOCI		11.1						3.7						14.8
Net other comprehensive (loss) income		(11.6	)		4.6			.6			9.4			3.0
Balance at March 31, 2019	$	(9.6	)	$	2.3		$	(477.2	)	$	(611.0	)	$	(1,095.5	)

	DERIVATIVE CONTRACTS			MARKETABLE DEBT SECURITIES			PENSION PLANS			FOREIGN CURRENCY TRANSLATION			TOTAL
Balance at January 1, 2018	$	1.2		$	(1.8	)	$	(375.6	)	$	(417.4	)	$	(793.6	)
Recorded into AOCI		(11.8	)		(1.7	)		(4.2	)		77.8			60.1
Reclassified out of AOCI		9.3			(.3	)		6.2						15.2
Net other comprehensive (loss) income		(2.5	)		(2.0	)		2.0			77.8			75.3
Balance at March 31, 2018	$	(1.3	)	$	(3.8	)	$	(373.6	)	$	(339.6	)	$	(718.3	)

Reclassifications out of AOCI were as follows:

		Three Months Ended
	LINE ITEM IN THE CONSOLIDATED STATEMENTS OF	March 31
AOCI COMPONENTS	COMPREHENSIVE INCOME		2019			2018
Unrealized losses and (gains) on derivative contracts:
Truck, Parts and Other
Foreign-exchange contracts	Net sales and revenues	$	9.4		$	4.6
	Cost of sales and revenues		(2.1	)		(1.1	)
	Interest and other (income), net		.5			(1.0	)
Financial Services
Interest-rate contracts	Interest and other borrowing expenses		6.7			9.3
	Pre-tax expense increase		14.5			11.8
	Tax benefit		(3.4	)		(2.5	)
	After-tax expense increase		11.1			9.3
Unrealized losses and (gains) on marketable debt securities:
Marketable debt securities	Investment income					(.4	)
	Tax expense					.1
	After-tax income increase					(.3	)
Pension plans:
Truck, Parts and Other
Actuarial loss	Interest and other (income), net		4.4			7.7

Prior service costs	Interest and other (income), net		.4			.4
	Pre-tax expense increase		4.8			8.1
	Tax benefit		(1.1	)		(1.9	)
	After-tax expense increase		3.7			6.2
Total reclassifications out of AOCI		$	14.8		$	15.2