Stockholders' Equity

12 Months Ended

Dec. 31, 2014

Equity [Abstract]

Stockholders' Equity

N. STOCKHOLDERS’ EQUITY

Accumulated Other Comprehensive (Loss) Income: The components of accumulated other comprehensive (loss) income as of December 31, 2014 and 2013 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 December 31, 2013	$	(15.1	)	$	1.7		$	(262.2	)	$	284.3		$	8.7
Recorded into AOCI		20.0			4.2			(185.8	)		(422.8	)		(584.4	)
Reclassified out of AOCI		(18.4	)		(.6	)		14.9						(4.1	)
Net other comprehensive (loss) income		1.6			3.6			(170.9	)		(422.8	)		(588.5	)
Balance at December 31, 2014	$	(13.5	)	$	5.3		$	(433.1	)	$	(138.5	)	$	(579.8	)
The components of AOCI as of December 31, 2013 and 2012 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 December 31, 2012	$	(27.2	)	$	6.6		$	(496.5	)	$	357.6		$	(159.5	)
Recorded into AOCI		36.9			(6.1	)		204.8			(71.3	)		164.3
Reclassified out of AOCI		(24.8	)		1.2			29.5			(2.0	)		3.9
Net other comprehensive (loss) income		12.1			(4.9	)		234.3			(73.3	)		168.2
Balance at December 31, 2013	$	(15.1	)	$	1.7		$	(262.2	)	$	284.3		$	8.7

Reclassifications out of AOCI during the year ended December 31, 2014 are as follows:

AOCI COMPONENTS	LINE ITEM IN THE CONSOLIDATED STATEMENTS OF INCOME	AMOUNT RECLASSIFIED OUT OF AOCI
Unrealized (gains) and losses on derivative contracts:
Truck, Parts and Other
Foreign-exchange contracts	Cost of sales and revenues	$	.3
	Interest and other expense (income), net		(2.1	)
Financial Services
Interest-rate contracts	Interest and other borrowing expenses		(21.7	)
	Pre-tax expense reduction		(23.5	)
	Tax expense		5.1
	After-tax expense reduction		(18.4	)
Unrealized (gains) and losses on marketable debt securities:
Marketable debt securities	Investment income		(.9	)
	Tax expense		.3
	After-tax income increase		(.6	)
Pension plans:
Truck, Parts and Other
Actuarial loss	Cost of sales and revenues $11.1, SG&A $9.0		20.1
Prior service costs	Cost of sales and revenues $1.0, SG&A $.2		1.2
Financial Services
Actuarial loss	SG&A		.7
	Pre-tax expense increase		22.0
	Tax benefit		(7.1	)
	After-tax expense increase		14.9
Total reclassifications out of AOCI		$	(4.1	)

Reclassifications out of AOCI during the year ended December 31, 2013 are as follows:

AOCI COMPONENTS	LINE ITEM IN THE CONSOLIDATED STATEMENTS OF INCOME	AMOUNT RECLASSIFIED OUT OF AOCI
Unrealized (gains) and losses on derivative contracts:
Truck, Parts and Other
Foreign-exchange contracts	Cost of sales and revenues	$	1.0
	Interest and other expense (income), net		(.6	)
Financial Services
Interest-rate contracts	Interest and other borrowing expenses		(36.0	)
	Pre-tax expense reduction		(35.6	)
	Tax expense		10.8
	After-tax expense reduction		(24.8	)
Unrealized (gains) and losses on marketable debt securities:
Marketable debt securities	Investment income		1.7
	Tax benefit		(.5	)
	After-tax income decrease		1.2
Pension plans:
Truck, Parts and Other
Actuarial loss	Cost of sales and revenues $21.4, SG&A $20.3		41.7
Prior service costs	Cost of sales and revenues $.4, SG&A $.6, R&D $.3		1.3
Financial Services
Actuarial loss	SG&A		2.3
	Pre-tax expense increase		45.3
	Tax benefit		(15.8	)
	After-tax expense increase		29.5
Foreign currency translation:
Truck, Parts and Other	Interest and other expense (income), net		(1.1	)
Financial Services	Interest and other borrowing expenses		(.9	)
	Expense reduction		(2.0	)
Total reclassifications out of AOCI		$	3.9

Other Capital Stock Changes: In 2014, the Company purchased .7 million treasury shares. In 2013, there were no purchases or retirements of treasury shares. In 2012, the Company purchased and retired 4.2 million treasury shares.