Basis of Presentation (Tables)

3 Months Ended

Mar. 31, 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 March 31,	2022		2021
Additional shares		567,400		792,800
Antidilutive options		1,092,200		583,000

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 March 31, 2021	AS ORIGINALLY REPORTED		EFFECT OF CHANGE			AS ADJUSTED
Truck, Parts and Other
Cost of sales and revenues	$	4,690.7	$	(1.0	)	$	4,689.7
Income Taxes		137.2		.3			137.5
Net Income		470.1		.7			470.8

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 March 31, 2022	AS REPORTED		PRO FORMA UNDER LIFO		EFFECT OF CHANGE
Truck, Parts and Other
Cost of sales and revenues	$	5,285.5	$	5,296.8	$	(11.3	)
Income Taxes		170.9		168.1		2.8
Net Income		600.5		592.0		8.5
Net Income Per Share
Basic	$	1.72	$	1.70	$	.02
Diluted	$	1.72	$	1.70	$	.02

The effect of the change to income before income taxes within the Truck, Parts and Other segments for the three months ended March 31, 2022 would not be material, and there would be 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 Balance Sheet.

March 31, 2022	AS REPORTED		PRO FORMA UNDER LIFO		EFFECT OF CHANGE
Truck, Parts and Other
Inventories, net	$	2,222.1	$	2,003.1	$	219.0
Accounts payable, accrued expenses and other		4,609.6		4,555.7		53.9
Retained earnings		12,507.9		12,342.8		165.1