Stockholders' Equity

12 Months Ended

Dec. 31, 2021

Equity [Abstract]

Stockholders' Equity

O. STOCKHOLDERS’ EQUITY

Accumulated Other Comprehensive Income (Loss): The components of AOCI and the changes in AOCI, net of tax, included in the Consolidated Balance Sheets and the Consolidated Statements of Stockholders’ Equity, consisted of the following:

	DERIVATIVE CONTRACTS			MARKETABLE DEBT SECURITIES			PENSION PLANS			FOREIGN CURRENCY TRANSLATION			TOTAL
Balance at January 1, 2021	$	(29.2	)	$	14.6		$	(578.1	)	$	(457.6	)	$	(1,050.3	)
Recorded into AOCI		39.9			(14.1	)		262.9			(179.1	)		109.6
Reclassified out of AOCI		(24.2	)		(1.6	)		45.4						19.6
Net other comprehensive income (loss)		15.7			(15.7	)		308.3			(179.1	)		129.2
Balance at December 31, 2021	$	(13.5	)	$	(1.1	)	$	(269.8	)	$	(636.7	)	$	(921.1	)

	DERIVATIVE CONTRACTS			MARKETABLE DEBT SECURITIES			PENSION PLANS			FOREIGN CURRENCY TRANSLATION			TOTAL
Balance at January 1, 2020	$	(15.3	)	$	6.1		$	(517.7	)	$	(573.2	)	$	(1,100.1	)
Recorded into AOCI		(78.4	)		10.3			(104.0	)		115.6			(56.5	)
Reclassified out of AOCI		64.5			(1.8	)		43.6						106.3
Net other comprehensive (loss) income		(13.9	)		8.5			(60.4	)		115.6			49.8
Balance at December 31, 2020	$	(29.2	)	$	14.6		$	(578.1	)	$	(457.6	)	$	(1,050.3	)

	DERIVATIVE CONTRACTS			MARKETABLE DEBT SECURITIES			PENSION PLANS			FOREIGN CURRENCY TRANSLATION			TOTAL
Balance at January 1, 2019	$	2.0		$	(2.3	)	$	(477.8	)	$	(620.4	)	$	(1,098.5	)
Recorded into AOCI		(57.0	)		8.7			(56.8	)		47.2			(57.9	)
Reclassified out of AOCI		39.7			(.3	)		16.9						56.3
Net other comprehensive (loss) income		(17.3	)		8.4			(39.9	)		47.2			(1.6	)
Balance at December 31, 2019	$	(15.3	)	$	6.1		$	(517.7	)	$	(573.2	)	$	(1,100.1	)

Reclassifications out of AOCI during the years ended December 31, 2021, 2020 and 2019 were as follows:

		AMOUNT RECLASSIFIED OUT OF AOCI
AOCI COMPONENTS	LINE ITEM IN THE CONSOLIDATED STATEMENTS OF INCOME	2021			2020			2019
Unrealized losses and (gains) on derivative contracts:
Truck, Parts and Other
Foreign-exchange contracts	Net sales and revenues	$	16.6		$	(4.0	)	$	21.2
	Cost of sales and revenues		(1.0	)		1.7			(4.1	)
	Interest and other (income), net		(.1	)		(4.6	)		2.1
Commodity contracts	Cost of sales and revenues		.6
x
Financial Services
Interest-rate contracts	Interest and other borrowing expenses		(49.8	)		94.5			32.5
	Pre-tax expense (reduction) increase		(33.7	)		87.6			51.7
	Tax expense (benefit)		9.5			(23.1	)		(12.0	)
	After-tax expense (reduction) increase		(24.2	)		64.5			39.7
Unrealized gains on marketable debt securities:
Marketable debt securities	Investment income		(2.1	)		(2.4	)		(.4	)
	Tax expense		.5			.6			.1
	After-tax income increase		(1.6	)		(1.8	)		(.3	)
Unrealized losses on pension plans:
Truck, Parts and Other
Actuarial loss	Interest and other (income), net		58.7			44.2			20.5
Prior service costs	Interest and other (income), net		.8			1.5			1.4
Settlement loss	Interest and other (income), net					11.6
	Pre-tax expense increase		59.5			57.3			21.9
	Tax benefit		(14.1	)		(13.7	)		(5.0	)
	After-tax expense increase		45.4			43.6			16.9
Total reclassifications out of AOCI		$	19.6		$	106.3		$	56.3

Other Capital Stock Changes: The Company purchased and retired treasury shares of nil, .7 and 1.7 million in 2021, 2020 and 2019, respectively.