PACCAR Files 2023 10-K, Details Operations

TL;DR

**PACCAR's 2023 10-K is out, giving a full look at their financials and operations.**

AI Summary

PACCAR Inc. filed its 10-K on February 21, 2024, for the fiscal year ended December 31, 2023. The company, a motor vehicle and passenger car body manufacturer, reported its business address as PACCAR Building, 777 106th Avenue NE, Bellevue, WA 98004. PACCAR's Central Index Key is 0000075362 and its SEC file number is 001-14817.

Why It Matters

This filing provides a comprehensive overview of PACCAR's financial performance and operational status for the past fiscal year, offering crucial insights for investors and stakeholders into the health of a major motor vehicle manufacturer.

Risk Assessment

Risk Level: medium — While the filing provides standard corporate information, the lack of specific financial figures in the provided text makes a precise risk assessment difficult, thus a medium risk is assigned as a default for a large industrial company.

Key Players & Entities

• PACCAR INC (company) — Filer of the 10-K
• 0000950170-24-017900 (other) — Accession Number
• 20231231 (date) — Conformed Period of Report
• 20240221 (date) — Filed As Of Date
• 0000075362 (other) — Central Index Key (CIK)
• PACCAR Building, 777 106th Avenue NE, Bellevue, WA 98004 (other) — Business Address
• 425 468 7525 (other) — Business Phone
• PACIFIC CAR & FOUNDRY CO (company) — Former Company Name
• 19720707 (date) — Date of Name Change for PACCAR

FAQ

Key Financial Figures

• $1 — nge on Which Registered Common Stock, $1 par value PCAR The Nasdaq Stock Mar
• $17.4 billion — mpany had a total production backlog of $17.4 billion at the end of 2023. Within this backlog
• $7.6 billion — be firm. The 90day backlog approximated $7.6 billion at December 31, 2023, $8.0 billion at D
• $8.0 billion — ated $7.6 billion at December 31, 2023, $8.0 billion at December 31, 2022 and $5.2 billion a
• $5.2 billion — , $8.0 billion at December 31, 2022 and $5.2 billion at December 31, 2021. Production of the

Filing Documents

• pcar-20231231.htm (10-K) — 6320KB
• pcar-ex21.htm (EX-21) — 140KB
• pcar-ex23.htm (EX-23) — 14KB
• pcar-ex24.htm (EX-24) — 21KB
• pcar-ex31_a.htm (EX-31.A) — 12KB
• pcar-ex31_b.htm (EX-31.B) — 12KB
• pcar-ex32.htm (EX-32) — 18KB
• pcar-ex97.htm (EX-97) — 14KB
• img42838733_0.jpg (GRAPHIC) — 3KB
• img63393799_0.jpg (GRAPHIC) — 144KB
• 0000950170-24-017900.txt ( ) — 30386KB
• pcar-20231231.xsd (EX-101.SCH) — 2869KB
• pcar-20231231_htm.xml (XML) — 8334KB

BUSINESS

BUSINESS 3 ITEM 1A.

RISK FACTORS

RISK FACTORS 10 ITEM 1B. UNRESOLVED STAFF COMMENTS 13 ITEM 1C. CYBERSECURITY 13 ITEM 2.

PROPERTIES

PROPERTIES 13 ITEM 3.

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS 13 ITEM 4. MINE SAFETY DISCLOSURES 13 PART II 14 ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES 14 ITEM 6. [RESERVED] 16 ITEM 7.

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 17 ITEM 7A.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 33 ITEM 8.

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA 34 ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE 80 ITEM 9A.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 80 ITEM 9B. OTHER INFORMATION 80 ITEM 9C. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 80 PART III 81 ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE 81 ITEM 11.

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION 81 ITEM 12.

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS 81 ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE 82 ITEM 14. PRINCIPAL ACCOUNTING FEES AND SERVICES 82 PART IV 83 ITEM 15. EXHIBITS, FINANCIAL STATEMENT SCHEDULES 83

SIGNATURES

SIGNATURES 86 2 PART I

B USINESS

ITEM 1. B USINESS. PACCAR Inc (the Company or PACCAR), incorporated under the laws of Delaware in 1971, is the successor to Pacific Car and Foundry Company which was incorporated in Washington in 1924. The Company traces its predecessors to Seattle Car Manufacturing Company formed in 1905. Description of Business PACCAR is a multinational company operating in three principal industry segments: (1) The Truck segment includes the design, manufacture and distribution of high-quality, light-, medium- and heavy-duty commercial trucks. Heavy-duty trucks have a gross vehicle weight (GVW) of over 33,000 lbs (Class 8) in North America and over 16 metric tonnes in Europe and South America. Medium-duty trucks have a GVW ranging from 19,500 to 33,000 lbs (Class 6 to 7) in North America, and in Europe, light- and medium-duty trucks range between 6 and 16 metric tonnes. Trucks are configured with the engine in front of cab (conventional) or cab-over-engine (COE). (2) The Parts segment includes the distribution of aftermarket parts for trucks and related commercial vehicles. (3) The Financial Services segment includes finance and leasing products and services provided to customers and dealers. PACCAR's finance and leasing activities are principally related to PACCAR products and associated equipment. PACCAR's Other business includes the manufacturing and marketing of industrial winches. TRUCKS PACCAR's trucks are marketed under the Kenworth, Peterbilt and DAF nameplates. These trucks, which are built in three plants in the United States, three in Europe and one each in Australia, Brasil, Canada and Mexico, are used worldwide for over-the-road and off-highway hauling of commercial and consumer goods. The Company also designs and manufactures diesel engines, primarily for use in the Company's trucks, at its facilities in Columbus, Mississippi; Eindhoven, the Netherlands; and Ponta Grossa, Brasil. PACCAR competes in the North American Class 8 market, primarily with