XML 38 R32.htm IDEA: XBRL DOCUMENT
v3.25.3

Derivative Financial Instruments (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Balance Sheet Classifications, Fair Value, Gross and Pro-Forma Net Amounts of Derivative Financial Instruments | The following table presents the balance sheet classification, fair value, gross and pro forma net amounts of derivative financial instruments:
|  | September 30, 2025 |  |  | December 31, 2024 |
|  | ASSETS |  |  | LIABILITIES |  |  | ASSETS |  |  | LIABILITIES |
Derivatives designated under hedge accounting: |  |  |  |  |  |  |  |  |  |  |  |
Interest-rate contracts: |  |  |  |  |  |  |  |  |  |  |  |
Financial Services: |  |  |  |  |  |  |  |  |  |  |  |
Other assets |  | $ | 44.9 |  |  |  |  |  | $ | 132.2 |  |  |  |
Deferred taxes and other liabilities |  |  |  |  | $ | 118.5 |  |  |  |  |  | $ | 41.1 |
Foreign-exchange contracts: |  |  |  |  |  |  |  |  |  |  |  |
Truck, Parts and Other: |  |  |  |  |  |  |  |  |  |  |  |
Other current assets |  |  | 13.5 |  |  |  |  |  |  | 67.6 |  |  |  |
Accounts payable, accrued expenses and other |  |  |  |  |  | 89.4 |  |  |  |  |  |  | 3.0 |
Financial Services: |  |  |  |  |  |  |  |  |  |  |  |
Other assets |  |  |  |  |  |  |  |  | 5.8 |  |  |  |
Deferred taxes and other liabilities |  |  |  |  |  | 5.2 |  |  |  |  |  |  |
Commodity contracts: |  |  |  |  |  |  |  |  |  |  |  |
Truck, Parts and Other: |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable, accrued expenses and other |  |  |  |  |  | .5 |  |  |  |  |  |  |
|  | $ | 58.4 |  |  | $ | 213.6 |  |  | $ | 205.6 |  |  | $ | 44.1 |
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |  |  |  |  |  |
Foreign-exchange contracts: |  |  |  |  |  |  |  |  |  |  |  |
Truck, Parts and Other: |  |  |  |  |  |  |  |  |  |  |  |
Other current assets |  | $ | .2 |  |  |  |  |  | $ | 1.2 |  |  |  |
Accounts payable, accrued expenses and other |  |  |  |  | $ | 1.2 |  |  |  |  |  | $ | 2.4 |
Financial Services: |  |  |  |  |  |  |  |  |  |  |  |
Other assets |  |  | .1 |  |  |  |  |  |  | .2 |  |  |  |
Deferred taxes and other liabilities |  |  |  |  |  |  |  |  |  |  |  | .2 |
|  | $ | .3 |  |  | $ | 1.2 |  |  | $ | 1.4 |  |  | $ | 2.6 |
Gross amounts recognized in Balance Sheets |  | $ | 58.7 |  |  | $ | 214.8 |  |  | $ | 207.0 |  |  | $ | 46.7 |
Less amounts not offset in financial instruments: |  |  |  |  |  |  |  |  |  |  |  |
Truck, Parts and Other: |  |  |  |  |  |  |  |  |  |  |  |
Foreign-exchange contracts |  | $ | (.3 | ) |  | $ | (.3 | ) |  | $ | (.9 | ) |  | $ | (.9 | )
Financial Services: |  |  |  |  |  |  |  |  |  |  |  |
Interest-rate contracts |  |  | (20.0 | ) |  |  | (20.0 | ) |  |  | (11.4 | ) |  |  | (11.4 | )
Pro forma net amount |  | $ | 38.4 |  |  | $ | 194.5 |  |  | $ | 194.7 |  |  | $ | 34.4 |
Amount of Loss (Gain) from Derivative Financial Instruments Recorded in Consolidated Statements of Comprehensive Income | The following table presents the amount of loss (gain) from derivative financial instruments recorded in the Consolidated Statements of Comprehensive Income:
| Three Months Ended |  |  | Nine Months Ended |
| September 30, 2025 |  |  | September 30, 2025 |
| INTEREST- |  |  | FOREIGN- |  |  | INTEREST- |  |  | FOREIGN- |
| RATE |  |  | EXCHANGE |  |  | RATE |  |  | EXCHANGE |
Truck, Parts and Other: |  |  |  |  |  |  |  |  |  |  |
Net sales and revenues |  |  |  |  |  |  |  |  |  |  |
Cash flow hedges |  |  |  | $ | 1.1 |  |  |  |  |  | $ | 5.1 |
Cost of sales and revenues |  |  |  |  |  |  |  |  |  |  |
Cash flow hedges |  |  |  |  | (12.2 | ) |  |  |  |  |  | (23.0 | )
Derivatives not designated as hedging instruments |  |  |  |  | (1.3 | ) |  |  |  |  |  | (1.7 | )
Interest and other (income) expenses, net |  |  |  |  |  |  |  |  |  |  |
Cash flow hedges |  |  |  |  | 10.8 |  |  |  |  |  |  | 41.0 |
Net investment hedges |  |  |  |  | (3.1 | ) |  |  |  |  |  | (9.7 | )
Derivatives not designated as hedging instruments |  |  |  |  | (1.7 | ) |  |  |  |  |  | 6.1 |
|  |  |  | $ | (6.4 | ) |  |  |  |  | $ | 17.8 |
Financial Services: |  |  |  |  |  |  |  |  |  |  |
Interest and other borrowing expenses |  |  |  |  |  |  |  |  |  |  |
Cash flow hedges | $ | .5 |  |  | $ | 3.1 |  |  | $ | 176.0 |  |  | $ | 15.9 |
Fair value hedges |  | .5 |  |  |  |  |  |  | 1.9 |  |  |  |
Derivatives not designated as hedging instruments |  |  |  |  | (.7 | ) |  |  |  |  |  | (.8 | )
| $ | 1.0 |  |  | $ | 2.4 |  |  | $ | 177.9 |  |  | $ | 15.1 |
Total | $ | 1.0 |  |  | $ | (4.0 | ) |  | $ | 177.9 |  |  | $ | 32.9 |
| Three Months Ended | Nine Months Ended |
| September 30, 2024 | September 30, 2024 |
| INTEREST- |  |  | FOREIGN- |  |  | INTEREST- |  |  | FOREIGN- |
| RATE |  |  | EXCHANGE |  |  | RATE |  |  | EXCHANGE |
Truck, Parts and Other: |  |  |  |  |  |  |  |  |  |  |
Net sales and revenues |  |  |  |  |  |  |  |  |  |  |
Cash flow hedges |  |  |  | $ | (11.4 | ) |  |  |  |  | $ | (2.2 | )
Cost of sales and revenues |  |  |  |  |  |  |  |  |  |  |
Cash flow hedges |  |  |  |  | (3.9 | ) |  |  |  |  |  | (28.8 | )
Derivatives not designated as hedging instruments |  |  |  |  | (.3 | ) |  |  |  |  |  | (.1 | )
Interest and other (income) expenses, net |  |  |  |  |  |  |  |  |  |  |
Cash flow hedges |  |  |  |  | 4.2 |  |  |  |  |  |  | 6.7 |
Net investment hedges |  |  |  |  | (2.1 | ) |  |  |  |  |  | (7.7 | )
Derivatives not designated as hedging instruments |  |  |  |  | (2.4 | ) |  |  |  |  |  | (9.9 | )
|  |  |  | $ | (15.9 | ) |  |  |  |  | $ | (42.0 | )
Financial Services: |  |  |  |  |  |  |  |  |  |  |
Interest and other borrowing expenses |  |  |  |  |  |  |  |  |  |  |
Cash flow hedges | $ | 54.4 |  |  | $ | 4.0 |  |  | $ | (12.5 | ) |  | $ | (1.0 | )
Fair value hedges |  | 2.1 |  |  |  |  |  |  | 7.2 |  |  |  |
Derivatives not designated as hedging instruments |  |  |  |  | 6.7 |  |  |  |  |  |  | 8.9 |
| $ | 56.5 |  |  | $ | 10.7 |  |  | $ | (5.3 | ) |  | $ | 7.9 |
Total | $ | 56.5 |  |  | $ | (5.2 | ) |  | $ | (5.3 | ) |  | $ | (34.1 | )
Amounts Related to Cumulative Basis Adjustments for Fair Value Hedges | The following table presents the amounts recorded on the Consolidated Balance Sheets related to cumulative basis adjustments for fair value hedges:
|  | September 30 |  |  | December 31 |
|  | 2025 |  |  | 2024 |
Financial Services |  |  |  |  |  |
Term notes: |  |  |  |  |  |
Carrying amount of the hedged liabilities |  | $ | 576.6 |  |  | $ | 543.1 |
Cumulative basis adjustment increase (decrease) included in the carrying amount |  |  | 6.8 |  |  |  | (8.6 | )
Pre-Tax Effects of (Loss) Gain Derivative Instruments Recognized in OCI | The following table presents the pre-tax effects of (loss) gain on cash flow hedges recognized in other comprehensiv e income (loss) (OCI):
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 30, 2025 |  |  | September 30, 2025 |
|  | INTEREST- |  |  | FOREIGN- |  |  |  |  |  | INTEREST- |  |  | FOREIGN- |  |  |  |
|  | RATE |  |  | EXCHANGE |  |  | COMMODITY |  |  | RATE |  |  | EXCHANGE |  |  | COMMODITY |
(Loss) gain recognized in OCI: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Truck, Parts and Other |  |  |  |  | $ | 3.4 |  |  | $ | (1.1 | ) |  |  |  |  | $ | (39.1 | ) |  | $ | .3 |
Financial Services |  | $ | (1.9 | ) |  |  | (3.1 | ) |  |  |  |  | $ | (198.0 | ) |  |  | (17.9 | ) |  |  |
|  | $ | (1.9 | ) |  | $ | .3 |  |  | $ | (1.1 | ) |  | $ | (198.0 | ) |  | $ | (57.0 | ) |  | $ | .3 |
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 30, 2024 |  |  | September 30, 2024 |
|  | INTEREST- |  |  | FOREIGN- |  |  |  |  |  | INTEREST- |  |  | FOREIGN- |  |  |  |
|  | RATE |  |  | EXCHANGE |  |  | COMMODITY |  |  | RATE |  |  | EXCHANGE |  |  | COMMODITY |
(Loss) gain recognized in OCI: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Truck, Parts and Other |  |  |  |  | $ | .1 |  |  | $ | (.6 | ) |  |  |  |  | $ | 47.1 |  |  | $ | (13.6 | )
Financial Services |  | $ | (54.9 | ) |  |  | (4.6 | ) |  |  |  |  | $ | 26.7 |  |  |  | .5 |  |  |  |
|  | $ | (54.9 | ) |  | $ | (4.5 | ) |  | $ | (.6 | ) |  | $ | 26.7 |  |  | $ | 47.6 |  |  | $ | (13.6 | )
T

X
- Definition Schedule of amount of income or expense from derivative financial instruments designated as hedging and not designated as hedging recognized in balance sheet classification. + References No definition available. + Details
Name: | pcar_ScheduleOfAmountOfIncomeOrExpenseFromDerivativeFinancialInstrumentsDesignatedAsHedgingAndNotDesignatedAsHedgingRecognizedInBalanceSheetClassification
Namespace Prefix: | pcar_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule of amount of (income) or expense from derivative financial instruments designated as hedging and not designated as hedging recognized in consolidated statements of comprehensive income (loss). + References No definition available. + Details
Name: | pcar_ScheduleOfAmountOfIncomeOrExpenseFromDerivativeFinancialInstrumentsDesignatedAsHedgingRecognizedInConsolidatedStatementsOfComprehensiveIncomeLoss
Namespace Prefix: | pcar_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure for cash flow hedging instruments of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4E -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4E Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4C -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4A -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4B -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4B + Details
Name: | us-gaap_ScheduleOfCashFlowHedgingInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure for fair value hedging instruments of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4E -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4E Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4C -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4A -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4B -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4B + Details
Name: | us-gaap_ScheduleOfFairValueHedgingInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration