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PCAR Stock Price Correlated With PACCAR Financials
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Income Statement
Cash Flow
Balance Sheet
PCAR Income Statement
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Revenue, Net:
Cost of Goods & Services Sold:
Gross Profit:
Selling, General & Admin Expense:
Research & Development Expense:
Total Operating Expenses:
Operating Income:
Income Taxes:
Net Income:
PCAR Cash Flow
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Operating Activities Net Income:
Depreciation, Depletion & Amortization:
Change in Accounts Receiveable:
Net Cash from Operations:
Repurchases/Buybacks Common Stock:
Issuance of Long-term Debt:
Cash Dividends Paid:
Net Cash from Financing Activities:
Property, Plant & Equipment Purchases:
Purchases of Businesses, Net of Cash:
Net Cash from Investing Activities:
Net Change in Cash & Equivalents:
PCAR Balance Sheet
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Cash and Cash Equivalents:
Short-Term Investments:
Accounts Receivable, Net:
Inventories:
Total Current Assets:
Property, Plant & Equipment, Net:
Total Assets:
Accounts Payable:
Current Portion of Long-Term Debt:
Total Short-Term Liabilities:
Long Term Debt, Non-Current Portion:
Total Long-Term Liabilities:
Total Liabilities:
Major Holders (from 13F filings)
Investment Type
Change
Value (x$1000)
increase or decrease
Vanguard Group
62,700,748 sh
736,930 sh
1%
1%
$5,244,917
$709,166
Blackrock.
36,038,253 sh
10,012,711 sh
38%
38%
$3,014,600
-$2,572,733,325
State Street
21,303,419 sh
-41,902 sh
0%
0%
$1,782,031
$219,554
Geode Capital Management
12,106,664 sh
364,109 sh
3%
3%
$1,011,209
$152,261
FMR
10,947,120 sh
193,499 sh
2%
2%
$915,727
$128,561
Bank Of America /De/
10,443,800 sh
3,021,670 sh
41%
41%
$873,624
$252,464
Massachusetts Financial Services /Ma/
8,563,711 sh
-119,035 sh
-1%
-1%
$716,354
$80,777
Morgan Stanley
6,623,569 sh
1,065,267 sh
19%
19%
$554,062
$147,194
Dimensional Fund Advisors
5,734,624 sh
2,379,210 sh
71%
71%
$479,669
$198,812
Alliancebernstein
5,414,169 sh
523,460 sh
11%
11%
$452,895
$94,895
Northernrp
5,224,802 sh
-236,461 sh
-4%
-4%
$437,055
$37,291
Fisher Asset Management
4,849,368 sh
98,143 sh
2%
2%
$406
$58
Ontario Teachers Pension Plan Board
4,393,089 sh
4,393,089 sh
NEW
NEW
$367,482
$367,482
Principal Financial Group
3,968,399 sh
-668,713 sh
-14%
-14%
$331,957
-$7,479
Legal & General Group Plc
3,966,546 sh
46,493 sh
1%
1%
$331,801
$44,853
Citadel Advisors
3,824,967 sh
3,689,867 sh
2731%
2731%
$319,958
$310,069
Price T Rowe Associates /Md/
3,816,056 sh
-131,080 sh
-3%
-3%
$319
$30
Bank Of New York Mellon
3,803,439 sh
-23,508 sh
-1%
-1%
$318,159
$38,026
Us Bancorp \De\
3,619,613 sh
4,390 sh
0%
0%
$302,781
$38,147
Aqr Capital Management
3,354,647 sh
854,629 sh
34%
34%
$280,615
$100,214
COMPANY PROFILE
NOTE A - Basis of Presentation
The accompanying unaudited consolidated financial statements have been prepared in accordance with generally accepted accounting principles (GAAP) for interim financial information and with the instructions to Form 10‑Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three months ended March 31, 2022 are not necessarily indicative of the results that may be expected for the year ending December 31, 2022. For further information, refer to the consolidated financial statements and footnotes included in PACCAR Inc’s (PACCAR or the Company) Annual Report on Form 10‑K for the year ended December 31, 2021.
Earnings per Share : Basic earnings per common share are computed by dividing earnings by the weighted average number of common shares outstanding, plus the effect of any participating securities. Diluted earnings per common share are computed assuming that all potentially dilutive securities are converted into common shares under the treasury stock method. The dilutive and antidilutive options are shown separately in the table below.
Three Months Ended March 31,
2022
2021
Additional shares
567,400
792,800
Antidilutive options
1,092,200
583,000
Change in Accounting: In the first quarter of 2022, the Company changed the method of accounting for its U.S. inventories from last-in-first-out (LIFO) to first-in-first-out (FIFO). Inventories valued using the LIFO method comprised 41% of consolidated inventories before deducting the LIFO reserve at December 31, 2021. The Company believes the FIFO method is preferable because it better matches cost with revenues, it results in a more consistent method to value inventory with its foreign subsidiaries and it improves comparability with industry peers. This change increased Retained Earnings by $143.3 million to $11,148.5 million at January 1, 2021. The effects of the change in accounting principle have been retrospectively applied to all periods presented:
The effect of the changes made to the Company’s Consolidated Statements of Comprehensive Income was as follows:
Three Months Ended March 31, 2021
AS ORIGINALLY REPORTED
EFFECT OF CHANGE
AS ADJUSTED
Truck, Parts and Other
Cost of sales and revenues
$
4,690.7
$
(1.0
)
$
4,689.7
Income Taxes
137.2
.3
137.5
Net Income
470.1
.7
470.8
The cumulative effect of the changes made to the Company’s Consolidated Balance Sheet was as follows:
December 31, 2021
AS ORIGINALLY REPORTED
EFFECT OF CHANGE
AS ADJUSTED
Truck, Parts and Other
Inventories, net
$
1,768.3
$
207.7
$
1,976.0
Other liabilities
1,436.5
51.1
1,487.6
Retained earnings
11,869.2
156.6
12,025.8
The change in accounting policy did not materially affect basic or diluted net income per share or income before income taxes within the Truck, Parts and Other segments for the three months ended March 31, 2021. There was no impact on total net cash provided by operating activities.
The following table compares the amounts currently reported to amounts that would have been reported under LIFO in the Consolidated Statements of Comprehensive Income.
Three Months Ended March 31, 2022
AS REPORTED
PRO FORMA UNDER LIFO
EFFECT OF CHANGE
Truck, Parts and Other
Cost of sales and revenues
$
5,285.5
$
5,296.8
$
(11.3
)
Income Taxes
170.9
168.1
2.8
Net Income
600.5
592.0
8.5
Net Income Per Share
Basic
$
1.72
$
1.70
$
.02
Diluted
$
1.72
$
1.70
$
.02
The effect of the change to income before income taxes within the Truck, Parts and Other segments for the three months ended March 31, 2022 would not be material, and there would be no impact on total net cash provided by operating activities.
The following table compa
The accompanying unaudited consolidated financial statements have been prepared in accordance with generally accepted accounting principles (GAAP) for interim financial information and with the instructions to Form 10‑Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three months ended March 31, 2022 are not necessarily indicative of the results that may be expected for the year ending December 31, 2022. For further information, refer to the consolidated financial statements and footnotes included in PACCAR Inc’s (PACCAR or the Company) Annual Report on Form 10‑K for the year ended December 31, 2021.
Earnings per Share : Basic earnings per common share are computed by dividing earnings by the weighted average number of common shares outstanding, plus the effect of any participating securities. Diluted earnings per common share are computed assuming that all potentially dilutive securities are converted into common shares under the treasury stock method. The dilutive and antidilutive options are shown separately in the table below.
Three Months Ended March 31,
2022
2021
Additional shares
567,400
792,800
Antidilutive options
1,092,200
583,000
Change in Accounting: In the first quarter of 2022, the Company changed the method of accounting for its U.S. inventories from last-in-first-out (LIFO) to first-in-first-out (FIFO). Inventories valued using the LIFO method comprised 41% of consolidated inventories before deducting the LIFO reserve at December 31, 2021. The Company believes the FIFO method is preferable because it better matches cost with revenues, it results in a more consistent method to value inventory with its foreign subsidiaries and it improves comparability with industry peers. This change increased Retained Earnings by $143.3 million to $11,148.5 million at January 1, 2021. The effects of the change in accounting principle have been retrospectively applied to all periods presented:
The effect of the changes made to the Company’s Consolidated Statements of Comprehensive Income was as follows:
Three Months Ended March 31, 2021
AS ORIGINALLY REPORTED
EFFECT OF CHANGE
AS ADJUSTED
Truck, Parts and Other
Cost of sales and revenues
$
4,690.7
$
(1.0
)
$
4,689.7
Income Taxes
137.2
.3
137.5
Net Income
470.1
.7
470.8
The cumulative effect of the changes made to the Company’s Consolidated Balance Sheet was as follows:
December 31, 2021
AS ORIGINALLY REPORTED
EFFECT OF CHANGE
AS ADJUSTED
Truck, Parts and Other
Inventories, net
$
1,768.3
$
207.7
$
1,976.0
Other liabilities
1,436.5
51.1
1,487.6
Retained earnings
11,869.2
156.6
12,025.8
The change in accounting policy did not materially affect basic or diluted net income per share or income before income taxes within the Truck, Parts and Other segments for the three months ended March 31, 2021. There was no impact on total net cash provided by operating activities.
The following table compares the amounts currently reported to amounts that would have been reported under LIFO in the Consolidated Statements of Comprehensive Income.
Three Months Ended March 31, 2022
AS REPORTED
PRO FORMA UNDER LIFO
EFFECT OF CHANGE
Truck, Parts and Other
Cost of sales and revenues
$
5,285.5
$
5,296.8
$
(11.3
)
Income Taxes
170.9
168.1
2.8
Net Income
600.5
592.0
8.5
Net Income Per Share
Basic
$
1.72
$
1.70
$
.02
Diluted
$
1.72
$
1.70
$
.02
The effect of the change to income before income taxes within the Truck, Parts and Other segments for the three months ended March 31, 2022 would not be material, and there would be no impact on total net cash provided by operating activities.
The following table compa
Free historical financial statements for PACCAR Inc.. See how revenue, income, cash flow, and balance sheet financials have changed over 54 quarters since 2010. Compare with PCAR stock chart to see long term trends.
Data imported from PACCAR Inc. SEC filings. Check original filings before making any investment decision.