$PCAR

PACCAR INC

CIK:0000075362|SEC Filings

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenues	$ 7,546.7	$ 7,510.5	$ 14,323.2	$ 14,952.2
Cost of sales and revenues	5,989.0	5,995.4	11,405.5	11,886.4
Research and development	114.3	112.9	223.4	228.3
Interest and other borrowing expenses	179.9	200.3	362.7	390.9
Depreciation and other expenses	165.2	154.9	325.3	314.6
Selling, general and administrative	179.7	179.3	369.0	360.9
Provision for losses on receivables			83.5	47.5
Interest and other (income) expenses, net	(16.3)	(9.5)	(37.6)	316.3
Income before income taxes	895.5	848.0	1,591.4	1,407.3
Investment income	86.0	83.9	166.4	167.7
Total Income (Loss) Before Income Taxes	981.5	931.9	1,757.8	1,575.0
Income taxes	229.5	208.1	400.5	346.1
Net Income	$ 752.0	$ 723.8	$ 1,357.3	$ 1,228.9
Net Income Per Share
Basic	$ 1.43	$ 1.38	$ 2.58	$ 2.34
Diluted	$ 1.43	$ 1.37	$ 2.57	$ 2.33
Weighted Average Number of Common Shares Outstanding
Basic	527.0	525.9	526.8	525.9
Diluted	527.6	526.7	527.5	526.8
Comprehensive Income	$ 738.7	$ 1,117.2	$ 1,352.0	$ 1,772.5
Truck, Parts and Other
Revenues	6,997.0	6,962.8	13,231.3	13,876.5
Cost of sales and revenues	5,989.0	5,995.4	11,405.5	11,886.4
Research and development	114.3	112.9	223.4	228.3
Selling, general and administrative	138.6	139.2	288.2	282.5
Interest and other (income) expenses, net	(16.3)	(9.5)	(37.6)	316.3
Costs and Expenses, Total	6,225.6	6,238.0	11,879.5	12,713.5
Income before income taxes	771.4	724.8	1,351.8	1,163.0
Total Income (Loss) Before Income Taxes	771.4	724.8	1,351.8	1,163.0
Financial Services
Interest and fees	346.2	357.6	691.1	700.6
Operating lease, rental and other revenues	203.5	190.1	400.8	375.1
Revenues	549.7	547.7	1,091.9	1,075.7
Interest and other borrowing expenses	179.9	200.3	362.7	390.9
Depreciation and other expenses	165.2	154.9	325.3	314.6
Selling, general and administrative	41.1	40.1	80.8	78.4
Provision for losses on receivables	39.4	29.2	83.5	47.5
Costs and Expenses, Total	425.6	424.5	852.3	831.4
Income before income taxes	124.1	123.2	239.6	244.3
Total Income (Loss) Before Income Taxes	$ 124.1	$ 123.2	$ 239.6	$ 244.3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
OPERATING ACTIVITIES:
Net Income	$ 1,357.3	$ 1,228.9
Adjustments to reconcile net income to cash provided by operations:
Depreciation and amortization, Property, plant and equipment	210.6	199.5
Depreciation and amortization, Other assets	204.5	212.9
Provision for losses on financial services receivables	83.5	47.5
Deferred taxes	(136.1)	(55.0)
Other, net	21.1	46.3
Pension contributions	(7.7)	(11.5)
Change in operating assets and liabilities:
Trade and other receivables	(383.3)	(165.1)
Wholesale receivables on new trucks	192.4	304.6
Inventories	(197.6)	28.9
Accounts payable and accrued expenses	361.6	(42.0)
Income taxes, warranty and other	(33.7)	(51.3)
Net Cash Provided by Operating Activities	1,672.6	1,743.7
INVESTING ACTIVITIES:
Originations of retail loans and finance leases	(2,560.3)	(2,978.4)
Collections on retail loans and finance leases	2,576.3	2,409.9
Net decrease in wholesale receivables on equipment	86.1	21.0
Purchases of marketable debt securities	(1,062.7)	(823.0)
Proceeds from sales and maturities of marketable debt securities	969.1	770.4
Payments for property, plant and equipment	(292.6)	(387.2)
Acquisitions of equipment for operating leases	(417.1)	(327.5)
Proceeds from asset disposals	332.0	352.8
Contributions to joint venture		(44.7)
Other, net	(62.6)	(3.4)
Net Cash Used in Investing Activities	(431.8)	(1,010.1)
FINANCING ACTIVITIES:
Payments of cash dividends	(1,093.7)	(1,920.3)
Purchases of treasury stock	(4.8)	(35.0)
Proceeds from stock compensation transactions	47.3	24.8
Net decrease in commercial paper, short-term bank loans and other	(171.8)	(1,083.9)
Proceeds from term debt	1,476.5	1,858.5
Payments on term debt	(2,211.9)	(1,269.9)
Net Cash Used in Financing Activities	(1,958.4)	(2,425.8)
Effect of exchange rate changes on cash and cash equivalents	(15.6)	181.3
Net Decrease in Cash and Cash Equivalents	(733.2)	(1,510.9)
Cash and cash equivalents at beginning of period	6,307.9	7,060.8
Cash and cash equivalents at end of period	$ 5,574.7	$ 5,549.9

Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
ASSETS
Total Assets	$ 43,980.1	$ 44,336.2
STOCKHOLDERS' EQUITY:
Common stock, $1 par value - authorized 1.2 billion shares, issued 526.4 and 525.4 million shares	526.4	525.4
Additional paid-in capital	446.6	379.2
Treasury stock, at cost - .04 million and nil shares	(4.8)
Retained earnings	19,695.1	18,696.1
Accumulated other comprehensive loss	(342.0)	(336.7)
Total Stockholders' Equity	20,321.3	19,264.0
Liabilities and Equity, Total	43,980.1	44,336.2
Truck, Parts and Other
ASSETS
Cash and cash equivalents	5,407.8	6,046.0
Trade and other receivables, net (allowance for losses: 2026 - $1.7, 2025 - $1.5)	2,376.3	1,981.1
Marketable securities	3,259.6	3,207.7
Inventories, net	2,384.2	2,187.5
Other current assets	957.8	903.9
Total Truck, Parts and Other Current Assets	14,385.7	14,326.2
Property, plant and equipment, net	4,519.8	4,505.3
Other noncurrent assets, net	2,809.1	2,701.3
Total Assets	21,714.6	21,532.8
Liabilities
Accounts payable, accrued expenses and other	5,158.7	4,876.3
Dividend payable		735.8
Total Truck, Parts and Other Current Liabilities	5,158.7	5,612.1
Other liabilities	2,209.0	2,278.8
Total Liabilities	7,367.7	7,890.9
Financial Services
ASSETS
Cash and cash equivalents	166.9	261.9
Finance and other receivables, net (allowance for losses: 2026 - $191.7, 2025 - $192.9)	19,312.4	19,754.5
Equipment on operating leases, net	1,895.8	1,868.6
Other assets	890.4	918.4
Total Assets	22,265.5	22,803.4
Liabilities
Accounts payable, accrued expenses and other	922.1	907.7
Commercial paper and bank loans	4,788.9	4,989.5
Term notes	9,907.5	10,646.8
Deferred taxes and other liabilities	672.6	637.3
Total Liabilities	$ 16,291.1	$ 17,181.3