Caterpillar Inc (CAT) financial statements: income statement, balance sheet and cash flow

Caterpillar Inc's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Caterpillar Inc reported revenue of $67.6B (+4.3% year on year).

Income statement

Caterpillar Inc income statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Total sales and revenues	$67.6B	$64.8B	$67.1B	$59.4B
Cost of goods sold	$44.8B	$40.2B	$42.8B	$41.4B
Selling, general and administrative expenses	$7.0B	$6.7B	$6.4B	$5.7B
Research and development expenses	$2.1B	$2.1B	$2.1B	$1.8B
Interest expense of Financial Products	$1.4B	$1.3B	$1.0B	$565.0M
Other operating (income) expenses	$1.2B	$1.5B	$1.8B	$1.2B
Total operating costs	$56.4B	$51.7B	$54.1B	$51.5B
Operating profit	$11.2B	$13.1B	$13.0B	$7.9B
Interest expense excluding Financial Products	$502.0M	$512.0M	$511.0M	$443.0M
Other income (expense)	$892.0M	$813.0M	$595.0M	$1.3B
Consolidated profit before taxes	$11.5B	$13.4B	$13.1B	$8.8B
Provision (benefit) for income taxes	$2.8B	$2.6B	$2.8B	$2.1B
Profit of consolidated companies	$8.8B	$10.7B	$10.3B	$6.7B
Equity in profit (loss) of unconsolidated affiliated companies	$109.0M	$44.0M	$63.0M	$19.0M
Profit of consolidated and affiliated companies	$8.9B	$10.8B	$10.3B	$6.7B
Less: comprehensive income (loss) attributable to the noncontrolling interests	($2.0M)	($4.0M)	($3.0M)	($1.0M)
Profit (loss)	$8.9B	$10.8B	$10.3B	$6.7B
Profit per common share (in dollars per share)	$18.90	$22.17	$20.24	$12.72
Profit per common share - diluted (in dollars per share)	$18.81	$22.05	$20.12	$12.64
Basic (in shares)	470.0M	486.7M	510.6M	526.9M
Diluted (in shares)	472.3M	489.4M	513.6M	530.4M

Caterpillar Inc income statement, quarters

Line item	Jun 30, 2026 · Q2	Mar 31, 2026 · Q1	Sep 30, 2025 · Q3	Jun 30, 2025 · Q2
Total sales and revenues	$20.5B	$17.4B	$17.6B	$16.6B
Cost of goods sold	$12.8B	$11.3B	$11.7B	$10.8B
Selling, general and administrative expenses	$2.0B	$1.8B	$1.8B	$1.7B
Research and development expenses	$616.0M	$537.0M	$555.0M	$551.0M
Interest expense of Financial Products	$362.0M	$345.0M	$346.0M	$336.0M
Other operating (income) expenses	$471.0M	$326.0M	$190.0M	$321.0M
Total operating costs	$16.2B	$14.3B	$14.6B	$13.7B
Operating profit	$4.3B	$3.1B	$3.1B	$2.9B
Interest expense excluding Financial Products	$135.0M	$134.0M	$133.0M	$126.0M
Other income (expense)	$398.0M	$260.0M	$208.0M	$84.0M
Consolidated profit before taxes	$4.6B	$3.2B	$3.1B	$2.8B
Provision (benefit) for income taxes	$1.1B	$670.0M	$836.0M	$646.0M
Profit of consolidated companies	$3.5B	$2.5B	$2.3B	$2.2B
Equity in profit (loss) of unconsolidated affiliated companies	$90.0M	$7.0M	$8.0M	$7.0M
Profit of consolidated and affiliated companies	$3.6B	$2.5B	$2.3B	$2.2B
Less: Profit (loss) attributable to noncontrolling interests	$0	($1.0M)	($1.0M)	$0
Profit	$3.6B	$2.5B	$2.3B	$2.2B
Profit per common share (in dollars per share)	$7.80	$5.50	$4.91	$4.64
Profit per common share - diluted (in dollars per share)	$7.77	$5.47	$4.88	$4.62
Basic (in shares)	460.4M	463.4M	468.6M	469.7M
Diluted (in shares)	462.5M	465.8M	470.8M	471.5M

Balance sheet

Caterpillar Inc balance sheet, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Cash and cash equivalents	$10.0B	$6.9B	$7.0B	$7.0B
Receivables – trade and other	$10.9B	$9.3B	$9.3B	$8.9B
Receivables – finance	$10.6B	$9.6B	$9.5B	$9.0B
Prepaid expenses and other current assets	$2.8B	$3.1B	$4.6B	$2.6B
Inventories	$18.1B	$16.8B	$16.6B	$16.3B
Total current assets	$52.5B	$45.7B	$46.9B	$43.8B
Property, plant and equipment - net	$15.1B	$13.4B	$12.7B	$12.0B
Long-term receivables – trade and other	$2.1B	$1.2B	$1.2B	$1.3B
Long-term receivables – finance	$14.3B	$13.2B	$12.7B	$12.0B
Noncurrent deferred and refundable income taxes	$2.9B	$3.3B	$2.8B	$2.2B
Intangible assets	$241.0M	$399.0M	$564.0M	$758.0M
Goodwill	$5.3B	$5.2B	$5.3B	$5.3B
Other assets	$6.1B	$5.3B	$5.3B	$4.6B
Total assets	$98.6B	$87.8B	$87.5B	$81.9B
Short-term borrowings	$5.5B	$4.4B	$4.6B	$6.0B
Accounts payable	$9.0B	$7.7B	$7.9B	$8.7B
Accrued expenses	$5.6B	$5.2B	$5.0B	$4.1B
Accrued wages, salaries and employee benefits	$2.6B	$2.4B	$2.8B	$2.3B
Customer advances	$3.3B	$2.3B	$1.9B	$1.9B
Dividends payable	$703.0M	$674.0M	$649.0M	$620.0M
Other current liabilities	$2.8B	$2.9B	$3.1B	$2.7B
Long-term debt due within one year	$7.1B	$6.7B	$8.8B	—
Total current liabilities	$36.6B	$32.3B	$34.7B	$31.5B
Long-term debt due after one year	$30.7B	$27.4B	$24.5B	—
Liability for postemployment benefits	$3.8B	$3.8B	$4.1B	$4.2B
Other liabilities	$6.2B	$4.9B	$4.7B	$4.6B
Total liabilities	$77.3B	$68.3B	$68.0B	$66.1B
Common stock, par value (in dollars per share)	$1.00	$1.00	$1.00	$1.00
Authorized shares: 2,000,000,000 Issued shares: (2025 and 2024 – 814,894,624 shares) at paid-in amount	7.2B	6.9B	6.4B	6.6B
Treasury stock: (2025 - 349,607,292 shares; and 2024 - 336,962,600 shares) at cost	-49.5B	-44.3B	-36.3B	-31.7B
Profit employed in the business	$65.4B	$59.4B	$51.3B	$43.5B
Accumulated other comprehensive income (loss)	($1.8B)	($2.5B)	($1.8B)	($2.5B)
Noncontrolling interests	$0	$3.0M	$9.0M	$22.0M
Total shareholders’ equity	$21.3B	$19.5B	$19.5B	$15.9B
Total liabilities and shareholders’ equity	$98.6B	$87.8B	$87.5B	$81.9B

Caterpillar Inc balance sheet, quarters

Line item	Jun 30, 2026	Mar 31, 2026	Sep 30, 2025	Jun 30, 2025
Cash and cash equivalents	$6.7B	$4.1B	$7.5B	$5.4B
Receivables – trade and other	$13.2B	$11.4B	$10.1B	$9.7B
Receivables – finance	$10.8B	$10.4B	$10.3B	$10.1B
Prepaid expenses and other current assets	$3.1B	$3.0B	$2.9B	$2.9B
Inventories	$20.6B	$19.6B	$19.0B	$18.6B
Total current assets	$54.5B	$48.6B	$49.8B	$46.8B
Property, plant and equipment – net	$15.6B	$15.2B	$14.3B	$13.9B
Long-term receivables – trade and other	$3.1B	$2.5B	$1.6B	$1.6B
Long-term receivables – finance	$14.4B	$14.3B	$14.0B	$13.8B
Noncurrent deferred and refundable income taxes	$2.3B	$2.4B	$3.0B	$3.4B
Intangible assets	$420.0M	$419.0M	$281.0M	$321.0M
Goodwill	$5.9B	$5.9B	$5.3B	$5.3B
Other assets	$6.5B	$6.2B	$5.4B	$5.2B
Total assets	$102.6B	$95.5B	$93.7B	$90.3B
Short-term borrowings	$5.0B	$4.7B	$4.5B	$4.5B
Accounts payable	$10.3B	$9.6B	$8.7B	$8.6B
Accrued expenses	$5.8B	$5.5B	$5.2B	$5.2B
Accrued wages, salaries and employee benefits	$2.1B	$1.4B	$2.1B	$1.6B
Customer advances	$4.8B	$4.4B	$3.4B	$3.4B
Dividends payable	$749.0M	$0	$0	$707.0M
Other current liabilities	$2.9B	$2.6B	$2.8B	$2.6B
Long-term debt due within one year	$8.1B	$7.7B	$9.3B	$8.3B
Total current liabilities	$39.8B	$35.9B	$36.0B	$34.9B
Long-term debt due after one year	$32.0B	$30.6B	$27.7B	$27.9B
Liability for postemployment benefits	$3.7B	$3.7B	$3.7B	$3.6B
Other liabilities	$7.6B	$6.7B	$5.7B	$5.2B
Total liabilities	$83.2B	$76.9B	$73.1B	$71.7B
Common stock, authorized and issued	$5.7B	$5.9B	$6.2B	$6.1B
Treasury stock: (6/30/26 – 355,219,735 shares; 12/31/25 – 349,607,292 shares) at cost	-54.5B	-53.3B	-48.3B	-48.0B
Profit employed in the business	$70.1B	$68.0B	$64.5B	$62.2B
Accumulated other comprehensive income (loss)	($1.9B)	($1.9B)	($1.7B)	($1.7B)
Noncontrolling interests	($1.0M)	($1.0M)	$1.0M	$2.0M
Total shareholders’ equity	$19.4B	$18.7B	$20.7B	$18.7B
Total liabilities and shareholders’ equity	$102.6B	$95.5B	$93.7B	$90.3B

Cash flow statement

Caterpillar Inc cash flow statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Profit of consolidated and affiliated companies	$8.9B	$10.8B	$10.3B	$6.7B
Depreciation and amortization	$2.3B	$2.2B	$2.1B	$2.2B
Actuarial (gain) loss on pension and postretirement benefits	($294.0M)	($154.0M)	($97.0M)	($606.0M)
Provision (benefit) for deferred income taxes	$465.0M	($621.0M)	($592.0M)	($377.0M)
(Gain) loss on divestiture	$30.0M	$164.0M	—	—
Other	$742.0M	$564.0M	$375.0M	$701.0M
Receivables – trade and other	($2.1B)	($160.0M)	($437.0M)	($220.0M)
Inventories	($1.5B)	($414.0M)	($364.0M)	($2.6B)
Accounts payable	$1.2B	($282.0M)	($754.0M)	$798.0M
Accrued expenses	$438.0M	$191.0M	$796.0M	$317.0M
Accrued wages, salaries and employee benefits	$187.0M	($363.0M)	$486.0M	$90.0M
Customer advances	$1.9B	$370.0M	$80.0M	$768.0M
Other assets – net	($176.0M)	($97.0M)	($95.0M)	($210.0M)
Other liabilities – net	($294.0M)	($104.0M)	$439.0M	($754.0M)
Net cash provided by (used for) operating activities	$11.7B	$12.0B	$12.9B	$7.8B
Capital expenditures – excluding equipment leased to others	($2.8B)	($2.0B)	($1.6B)	($1.3B)
Expenditures for equipment leased to others	($1.5B)	($1.2B)	($1.5B)	($1.3B)
Proceeds from disposals of leased assets and property, plant and equipment	$708.0M	$722.0M	$781.0M	$830.0M
Additions to finance receivables	($15.3B)	($15.4B)	($15.2B)	($13.2B)
Collections of finance receivables	$13.5B	$13.6B	$14.0B	$13.2B
Proceeds from sale of finance receivables	$71.0M	$83.0M	$63.0M	$57.0M
Investments and acquisitions (net of cash acquired)	($47.0M)	($34.0M)	($75.0M)	($88.0M)
Proceeds from sale of businesses and investments (net of cash sold)	$22.0M	($61.0M)	($4.0M)	$1.0M
Proceeds from maturities and sale of securities	$2.5B	$3.2B	$1.9B	$2.4B
Investments in securities	($1.9B)	($1.5B)	($4.4B)	($3.1B)
Other – net	$75.0M	$193.0M	$97.0M	$14.0M
Net cash provided by (used for) investing activities	($4.7B)	($2.5B)	($5.9B)	($2.5B)
Dividends paid	($2.7B)	($2.6B)	($2.6B)	($2.4B)
Common stock issued, and other stock compensation transactions, net	($16.0M)	$20.0M	$12.0M	$51.0M
Payments to purchase common stock	($5.2B)	($7.7B)	($5.0B)	($4.2B)
Excise tax paid on purchases of common stock	($73.0M)	($40.0M)	—	—
Proceeds from debt issued (original maturities greater than three months):	$11.1B	$10.3B	$8.3B	$6.7B
Payments on debt (original maturities greater than three months):	($8.1B)	($9.3B)	($6.3B)	($7.7B)
Short-term borrowings – net (original maturities three months or less)	$1.1B	($168.0M)	($1.3B)	$402.0M
Other – net	($1.0M)	($1.0M)	$0	($10.0M)
Net cash provided by (used for) financing activities	($3.9B)	($9.6B)	($6.9B)	($7.3B)
Effect of exchange rate changes on cash	($43.0M)	($106.0M)	($110.0M)	($194.0M)
Increase (decrease) in cash, cash equivalents and restricted cash	$3.1B	($89.0M)	($28.0M)	($2.3B)
Cash, cash equivalents and restricted cash at beginning of period	$6.9B	$7.0B	$7.0B	$9.3B
Cash, cash equivalents and restricted cash at end of period	$10.0B	$6.9B	$7.0B	$7.0B

Caterpillar Inc cash flow statement, quarters

Line item	Jun 30, 2026 · YTD	Mar 31, 2026 · Q1	Sep 30, 2025 · YTD	Jun 30, 2025 · YTD
Profit (loss) of consolidated and affiliated companies	$6.1B	$2.5B	$6.5B	$4.2B
Depreciation and amortization	$1.2B	$595.0M	$1.7B	$1.1B
Provision (benefit) for deferred income taxes	$644.0M	$534.0M	$300.0M	($110.0M)
(Gain) loss on divestiture	$139.0M	—	$0	$0
Other	($22.0M)	$68.0M	$509.0M	$398.0M
Receivables – trade and other	($3.2B)	($801.0M)	($788.0M)	($319.0M)
Inventories	($2.6B)	($1.5B)	($2.0B)	($1.6B)
Accounts payable	$1.5B	$938.0M	$1.1B	$973.0M
Accrued expenses	$189.0M	($202.0M)	$51.0M	($12.0M)
Accrued wages, salaries and employee benefits	($408.0M)	($1.1B)	($296.0M)	($805.0M)
Customer advances	$2.6B	$1.3B	$1.6B	$1.3B
Other assets – net	($93.0M)	($184.0M)	($138.0M)	($90.0M)
Other liabilities – net	$71.0M	($330.0M)	($355.0M)	($537.0M)
Net cash provided by (used for) operating activities	$6.2B	$1.9B	$8.1B	$4.4B
Capital expenditures – excluding equipment leased to others	($1.3B)	($728.0M)	($1.9B)	($1.3B)
Expenditures for equipment leased to others	($847.0M)	($323.0M)	($1.0B)	($608.0M)
Proceeds from disposals of leased assets and property, plant and equipment	$436.0M	$191.0M	$544.0M	$365.0M
Additions to finance receivables	($8.6B)	($3.9B)	($11.0B)	($7.1B)
Collections of finance receivables	$8.1B	$3.9B	$9.9B	$6.4B
Proceeds from sale of finance receivables	$33.0M	$13.0M	$26.0M	$18.0M
Investments and acquisitions (net of cash acquired)	($802.0M)	($788.0M)	($26.0M)	($21.0M)
Proceeds from sale of businesses and investments (net of cash sold)	($92.0M)	$0	$12.0M	$12.0M
Proceeds from maturities and sale of securities	$734.0M	$361.0M	$1.9B	$1.3B
Investments in securities	($1.2B)	($467.0M)	($1.3B)	($618.0M)
Other – net	$148.0M	($20.0M)	($19.0M)	($53.0M)
Net cash provided by (used for) investing activities	($3.4B)	($1.8B)	($2.8B)	($1.5B)
Dividends paid	($1.4B)	($703.0M)	($2.0B)	($1.3B)
Common stock issued, and other stock compensation transactions, net	($121.0M)	($97.0M)	($39.0M)	($59.0M)
Payments to purchase common stock	($6.5B)	($5.0B)	($4.8B)	($4.5B)
Excise tax paid on purchases of common stock	($49.0M)	—	($73.0M)	($73.0M)
Proceeds from debt issued (original maturities greater than three months):	$7.4B	$3.9B	$8.5B	$5.7B
Payments on debt (original maturities greater than three months):	($4.8B)	($3.2B)	($6.2B)	($4.2B)
Short-term borrowings – net (original maturities three months or less)	($542.0M)	($808.0M)	$106.0M	$72.0M
Net cash provided by (used for) financing activities	($6.0B)	($6.0B)	($4.7B)	($4.3B)
Effect of exchange rate changes on cash	($35.0M)	($55.0M)	($23.0M)	($7.0M)
Increase (decrease) in cash, cash equivalents and restricted cash	($3.3B)	($5.9B)	$648.0M	($1.4B)
Cash, cash equivalents and restricted cash at beginning of period	$10.0B	$10.0B	$6.9B	$6.9B
Cash, cash equivalents and restricted cash at end of period	$6.7B	$4.1B	$7.5B	$5.4B

Caterpillar Inc score and earnings-call analysis · All covered companies

Figures as reported in SEC filings. General information, not investment advice.