PACRI - Summary Financial Statements

(in 000s)
INCOME STATEMENTS
Truck, Parts and Other:
Net sales and revenues
Cost of sales and revenues
Research and development
Selling, general and administrative
Curtailment gain
Interest and other expense (income), net
Costs and Expenses
Truck, Parts and Other Income Before Income Taxes
Financial Services:
Revenues
Interest and other expenses
Selling, general and administrative
Provision for losses on receivables
Costs and Expenses
Financial Services Income Before Income Taxes
Investment income
Total Income Before Income Taxes
Income taxes
Net Income

BALANCE SHEETS
Truck, Parts and Other Assets:
Cash and marketable debt securities
Trade and other receivables, net
Inventories
Property, plant and equipment, net
Equipment on leases, taxes and other
Financial Services Assets

Truck, Parts and Other Liabilities:

Accounts payable, deferred revenues and other
Dividend payable
Debt
Financial Services Liabilities
Stockholders' Equity

2006

2007

2008

$ 15,503,300
13,036,600
163,100
457,300

$ 14,030,400
11,917,300
255,500
491,400

$ 13,709,600
11,736,900
341,800
470,200

(300)
13,656,700
1,846,600

(18,600)
12,645,600
1,384,800

(1,800)
12,547,100
1,162,500

950,800
573,700
95,900
33,800
703,400
247,400
81,300
2,175,300
679,300
1,496,000

1,191,300
755,300
110,900
41,000
907,200
284,100
95,400
1,764,300
537,000
1,227,300

1,262,900
835,600
111,200
99,200
1,046,000
216,900
84,600
1,464,000
446,100
1,017,900

2009

2010

7,076,700 $
6,483,400
199,200
348,400
(66,000)
43,600
7,008,600
68,100
1,009,800
747,900
86,500
90,800
925,200
84,600
22,300
175,000
63,100
111,900

2011

2012

2013

2014

9,325,100
8,198,800
238,500
392,800

$ 15,325,900
13,341,800
288,200
452,900

$ 15,951,700
13,908,300
279,300
476,400

$ 15,948,900
13,900,700
251,400
465,300

$ 17,792,800
15,481,600
215,600
465,200

17,942,800
15,292,100
239,800
445,900

9,300
8,839,400
485,700

10,700
14,093,600
1,232,300

(300)
14,663,700
1,288,000

5,300
14,622,700
1,326,200

5,500
16,167,900
1,624,900

12,300
15,990,100
1,952,700

967,800
664,600
88,700
61,000
814,300
153,500
21,100
660,300
202,700
457,600

1,029,300
657,500
94,000
41,400
792,900
236,400
38,200
1,506,900
464,600
1,042,300

1,098,800
675,800
95,200
20,000
791,000
307,800
33,100
1,628,900
517,300
1,111,600

1,174,900
727,600
94,200
12,900
834,700
340,200
28,600
1,695,000
523,700
1,171,300

1,204,200
722,200
96,200
15,400
833,800
370,400
22,300
2,017,600
658,800
1,358,800

1,172,300
701,700
95,600
12,400
809,700
362,600
21,800
2,337,100
733,100
$ 1,604,000

2015

2,628,000
665,000
693,700
1,347,200
962,300
9,811,200
$ 16,107,400

2,515,000
652,000
628,300
1,642,600
1,162,000
10,710,300
$ 17,310,200

2,074,600
698,700
658,100
1,782,800
1,005,200
10,030,400
$ 16,249,800

2,056,000
554,700
632,100
1,757,700
1,137,200
8,431,300
$ 14,569,000

2,432,500
610,400
534,000
1,673,700
1,105,300
7,878,200
$ 14,234,100

2,900,700
977,800
710,400
1,973,300
1,209,100
9,401,400
$ 17,172,700

2,395,900
902,100
782,400
2,312,900
1,439,000
10,795,500
$ 18,627,800

2,925,200
1,019,600
813,600
2,513,300
1,823,700
11,630,100
$ 20,725,500

2,937,100
1,047,100
925,700
2,313,300
1,478,300
11,917,300
$ 20,618,800

3,378,000
879,000
796,500
2,176,400
1,625,300
12,254,600
$ 21,109,800

3,839,300
492,600
9,837,500
6,940,400
$ 21,109,800

3,101,700
497,000
20,200
8,032,300
4,456,200
$ 16,107,400

3,216,100
367,100
23,600
8,690,300
5,013,100
$ 17,310,200

2,899,700
36,300
19,300
8,447,800
4,846,700
$ 16,249,800

2,442,500
172,300
6,850,500
5,103,700
$ 14,569,000

2,634,100
150,000
6,092,200
5,357,800
$ 14,234,100

3,596,400
250,300
150,000
7,811,600
5,364,400
$ 17,172,700

3,651,300
150,000
8,979,600
5,846,900
$ 18,627,800

3,983,200
318,800
150,000
9,639,200
6,634,300
$ 20,725,500

3,986,900
354,400
9,524,300
6,753,200
$ 20,618,800

PACRI - Selected Statistics

($ in 000s, except share data)
2006
TRUCK, PARTS AND OTHER
Gross Margin (excluding R&D)

Gross Margin %*
Research and Development %*
Selling General & Administrative %*
Operating Margin %*
Truck, Parts and Other Income %*
FINANCIAL SERVICES
Average Assets
Finance Margin
Finance Margin %**
Selling General & Administrative %**
Provision for Losses %**
Pre-tax Return on Average Assets

2,466,700

2007
$

15.9%
1.1%
2.9%
11.9%
11.9%

2,113,100

2008
$

15.1%
1.8%
3.5%
9.7%
9.9%

1,972,700

2009
$

14.4%
2.5%
3.4%
8.5%
8.5%

593,300

2010
$

8.4%
2.8%
4.9%
0.6%
1.0%

9,083,550 $ 10,260,750 $ 10,370,350 $

377,100
436,000
427,300
4.2%
4.2%
4.1%
1.1%
1.1%
1.1%
0.4%
0.4%
1.0%
2.7%
2.8%
2.1%

1,126,300

2011
$

12.1%
2.6%
4.2%
5.3%
5.2%

9,230,850 $
261,900
2.8%
0.9%
1.0%
0.9%

1,984,100

2012
$

12.9%
1.9%
3.0%
8.1%
8.0%

8,154,750 $
303,200
3.7%
1.1%
0.7%
1.9%

2,043,400

2013
$

12.8%
1.8%
3.0%
8.1%
8.1%

2,048,200

2014
$

12.8%
1.6%
2.9%
8.3%
8.3%

2,311,200

2015
$ 2,650,700

13.0%
1.2%
2.6%
9.2%
9.1%

14.8%
1.3%
2.5%
11.0%
10.9%

8,639,800 $ 10,098,450 $ 11,212,800 $ 11,773,700 $ 12,085,950

371,800
423,000
447,300
482,000
470,600
4.3%
4.2%
4.0%
4.1%
3.9%
1.1%
0.9%
0.8%
0.8%
0.8%
0.5%
0.2%
0.1%
0.1%
0.1%
2.7%
3.0%
3.0%
3.1%
3.0%

CONSOLIDATED
Return on Beginning Equity (After-tax)

38.3%

27.5%

20.3%

2.3%

9.0%

19.5%

20.7%

20.0%

20.5%

23.8%

Return on Revenues (Pre-tax)

Return on Revenues (After-tax)

13.2%
9.1%

11.6%
8.1%

9.8%
6.8%

2.2%
1.4%

6.4%
4.4%

9.2%
6.4%

9.6%
6.5%

9.9%
6.8%

10.6%
7.2%

12.2%
8.4%

Tax Rate %

31.2%

30.4%

30.5%

36.1%

30.7%

30.8%

31.8%

30.9%

32.7%

31.4%

Acquisition of Property, Plant and Equipment

Depreciation on Property, Plant and Equipment

312,000
163,400

Actual Shares Outstanding (millions)

Weighted Average Diluted Shares Outstanding (millions
Earnings Per Share (Diluted)
$

372.7
377.2
3.97

REVENUES:
United States
Europe
Rest of World

* As a percent of Truck, Parts and Other Net Sales and Revenues

**As a percent of Financial Services Average Assets

51.6%
27.9%
20.5%
100.0%

425,700
196,400
367.1
373.3
3.29

36.2%
40.5%
23.3%
100.0%

462,800
226,500
362.7
365.9
2.78

31.8%
46.9%
21.3%
100.0%

127,700
188,000
364.0
364.9
0.31

44.4%
35.0%
20.6%
100.0%

168,400
189,900
365.3
366.2
1.25

40.8%
33.7%
25.5%
100.0%

340,700
196,500
356.8
364.4
2.86

45.2%
31.2%
23.6%
100.0%

515,400
188,800
353.4
355.8
3.12

48.3%
25.1%
26.6%
100.0%

510,600
210,700
354.3
355.2
3.30

47.6%
29.0%
23.4%
100.0%

298,200
285,200
354.4
356.1
3.82

53.2%
25.5%
21.3%
100.0%

286,700
292,200
351.3
355.6
4.51

59.7%
23.6%
16.7%
100.0%