Stockholders' Equity (Tables)

6 Months Ended

Jun. 30, 2017

Equity [Abstract]

Components of Comprehensive Income (Loss), Net of Related Tax

The components of comprehensive income (loss) are as follows:

	Three Months Ended June 30						Six Months Ended June 30
	2017			2016			2017			2016
Net income (loss)	$	373.0		$	481.3		$	683.3		$	(113.3	)
Other comprehensive income (loss) (OCI):
Unrealized gains (losses) on derivative contracts		11.6			9.5			(2.0	)		2.9
Tax effect		(3.1	)		(2.6	)		.9			(.5	)
		8.5			6.9			(1.1	)		2.4
Unrealized (losses) gains on marketable debt securities		(.5	)		2.6			2.9			5.8
Tax effect		.1			(.8	)		(1.2	)		(1.8	)
		(.4	)		1.8			1.7			4.0
Pension plans		(1.4	)		15.4			2.5			22.4
Tax effect					(4.8	)		(1.3	)		(7.2	)
		(1.4	)		10.6			1.2			15.2
Foreign currency translation gains (losses)		126.1			(57.2	)		201.1			68.3
Net other comprehensive income (loss)		132.8			(37.9	)		202.9			89.9
Comprehensive income (loss)	$	505.8		$	443.4		$	886.2		$	(23.4	)

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 June 30, 2017	DERIVATIVE CONTRACTS			MARKETABLE DEBT SECURITIES			PENSION PLANS			FOREIGN CURRENCY TRANSLATION			TOTAL
Balance at April 1, 2017	$	(13.9	)	$	1.8		$	(411.5	)	$	(634.4	)	$	(1,058.0	)
Recorded into AOCI		(28.2	)		(.3	)		(5.7	)		126.1			91.9
Reclassified out of AOCI		36.7			(.1	)		4.3						40.9
Net other comprehensive income (loss)		8.5			(.4	)		(1.4	)		126.1			132.8
Balance at June 30, 2017	$	(5.4	)	$	1.4		$	(412.9	)	$	(508.3	)	$	(925.2	)
Three Months Ended June 30, 2016	DERIVATIVE CONTRACTS			MARKETABLE DEBT SECURITIES			PENSION PLANS			FOREIGN CURRENCY TRANSLATION			TOTAL
Balance at April 1, 2016	$	(10.9	)	$	4.3		$	(385.8	)	$	(496.8	)	$	(889.2	)
Recorded into AOCI		15.7			2.1			5.6			(57.2	)		(33.8	)
Reclassified out of AOCI		(8.8	)		(.3	)		5.0						(4.1	)
Net other comprehensive income (loss)		6.9			1.8			10.6			(57.2	)		(37.9	)
Balance at June 30, 2016	$	(4.0	)	$	6.1		$	(375.2	)	$	(554.0	)	$	(927.1	)
Six Months Ended June 30, 2017	DERIVATIVE CONTRACTS			MARKETABLE DEBT SECURITIES			PENSION PLANS			FOREIGN CURRENCY TRANSLATION			TOTAL
Balance at January 1, 2017	$	(4.3	)	$	(.3	)	$	(414.1	)	$	(709.4	)	$	(1,128.1	)
Recorded into AOCI		(74.1	)		2.0			(7.8	)		201.1			121.2
Reclassified out of AOCI		73.0			(.3	)		9.0						81.7
Net other comprehensive (loss) income		(1.1	)		1.7			1.2			201.1			202.9
Balance at June 30, 2017	$	(5.4	)	$	1.4		$	(412.9	)	$	(508.3	)	$	(925.2	)
Six Months Ended June 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		(26.0	)		4.8			5.7			68.3			52.8
Reclassified out of AOCI		28.4			(.8	)		9.5						37.1
Net other comprehensive income		2.4			4.0			15.2			68.3			89.9
Balance at June 30, 2016	$	(4.0	)	$	6.1		$	(375.2	)	$	(554.0	)	$	(927.1	)

Reclassifications Out of Accumulated Other Comprehensive Income

Reclassifications out of AOCI during the three months ended June 30, 2017 and 2016 are as follows:

AOCI COMPONENTS	LINE ITEM IN THE CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)	Three Months Ended June 30
		2017			2016
Unrealized losses (gains) on derivative contracts:
Truck, Parts and Other
Foreign-exchange contracts	Net sales and revenues	$	12.1		$	(1.7	)
	Cost of sales and revenues		(1.3	)		.6
	Interest and other expense (income), net		.6			.2
Financial Services
Interest-rate contracts	Interest and other borrowing expenses		40.0			(7.6	)
	Pre-tax expense increase (reduction)		51.4			(8.5	)
	Tax benefit		(14.7	)		(.3	)
	After-tax expense increase (reduction)		36.7			(8.8	)
Unrealized gains on marketable debt securities:
Marketable debt securities	Investment income		(.1	)		(.4	)
	Tax expense					.1
	After-tax income increase		(.1	)		(.3	)
Pension plans:
Truck, Parts and Other
Actuarial loss	Cost of sales and revenues		2.7			3.5
	Selling, general and administrative		3.0			3.6
			5.7			7.1
Prior service costs	Cost of sales and revenues		.3			.3
Financial Services
Actuarial loss	Selling, general and administrative		.2			.3
	Pre-tax expense increase		6.2			7.7
	Tax benefit		(1.9	)		(2.7	)
	After-tax expense increase		4.3			5.0
Total reclassifications out of AOCI		$	40.9		$	(4.1	)

Reclassifications out of AOCI during the six months ended June 30, 2017 and 2016 are as follows:

AOCI COMPONENTS	LINE ITEM IN THE CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)	Six Months Ended June 30
		2017			2016
Unrealized losses (gains) on derivative contracts:
Truck, Parts and Other
Foreign-exchange contracts	Net sales and revenues	$	16.3		$	(6.5	)
	Cost of sales and revenues		(1.2	)		.6
	Interest and other expense (income), net		.6			1.9
Financial Services
Interest-rate contracts	Interest and other borrowing expenses		85.8			50.3
	Pre-tax expense increase		101.5			46.3
	Tax benefit		(28.5	)		(17.9	)
	After-tax expense increase		73.0			28.4
Unrealized gains on marketable debt securities:
Marketable debt securities	Investment income		(.4	)		(1.1	)
	Tax expense		.1			.3
	After-tax income increase		(.3	)		(.8	)
Pension plans:
Truck, Parts and Other
Actuarial loss	Cost of sales and revenues		6.1			6.9
	Selling, general and administrative		6.1			6.5
			12.2			13.4
Prior service costs	Cost of sales and revenues		.5			.5
	Selling, general and administrative		.1			.1
			.6			.6
Financial Services
Actuarial loss	Selling, general and administrative		.4			.5
	Pre-tax expense increase		13.2			14.5
	Tax benefit		(4.2	)		(5.0	)
	After-tax expense increase		9.0			9.5
Total reclassifications out of AOCI		$	81.7		$	37.1