10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||||||||||||||
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10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
CATERPILLAR FINANCIAL SERVICES CORP | |||
Ticker: CAT Fiscal Year: 2013 | |||
Consolidated Statements of Profit | |||
Period Ending Dec 31, 2013 10-K/A (Amendment Filed: Nov 14, 2014) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | |
| Revenues: | |||
| Retail finance | $ 1,387 | 1,342 | 1,291 |
| Operating lease | 948 | 860 | 870 |
| Wholesale finance | 306 | 335 | 299 |
| Other, net | 144 | 156 | 185 |
| Total revenues | 2,785 | 2,693 | 2,645 |
| Expenses: | |||
| Interest | 734 | 801 | 827 |
| Depreciation on equipment leased to others | 770 | 688 | 690 |
| General, operating and administrative | 427 | 416 | 405 |
| Provision for credit losses | 101 | 163 | 177 |
| Other | 24 | 29 | 34 |
| Total expenses | 2,056 | 2,097 | 2,133 |
| Other income (expense) | (35) | (12) | (14) |
| Profit before income taxes | 694 | 584 | 498 |
| Provision for income taxes | 167 | 145 | 109 |
| Profit of consolidated companies | 527 | 439 | 389 |
| Less: Profit attributable to noncontrolling interests | 14 | 11 | 15 |
| Profit | 513 [1] | 428 | 374 |
| [1] Profit attributable to Caterpillar Financial Services Corporation. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
CATERPILLAR FINANCIAL SERVICES CORP | |||
Ticker: CAT Fiscal Year: 2013 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 31, 2013 10-K/A (Amendment Filed: Nov 14, 2014) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | |
| Profit of consolidated companies | $ 527 | 439 | 389 |
| Other comprehensive income (loss), net of tax: | |||
| Foreign currency translation, net of tax (expense)/benefit | (59) | 62 | (105) |
| Derivative financial instruments: | |||
| Gains (losses) deferred, net of tax (expense)/benefit | (1) | 1 | (1) |
| (Gains) losses reclassified to earnings, net of tax (expense)/benefit | 4 | (3) | 9 |
| Total Other comprehensive income (loss), net of tax | (56) | 60 | (97) |
| Comprehensive income (loss) | 471 | 499 | 292 |
| Less: Comprehensive income attributable to the noncontrolling interests | 17 | 11 | 12 |
| Comprehensive income (loss) attributable to Caterpillar Financial Services Corporation | 454 | 488 | 280 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
CATERPILLAR FINANCIAL SERVICES CORP | |||
Ticker: CAT Fiscal Year: 2013 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2013 10-K/A (Amendment Filed: Nov 14, 2014) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | |
| Cash flows from operating activities: | |||
| Profit of consolidated companies | $ 527 | 439 | 389 |
| Adjustments for non-cash items: | |||
| Depreciation and amortization | 790 | 707 | 710 |
| Amortization of receivables purchase discount | (233) | (241) | (212) |
| Provision for credit losses | 101 | 163 | 177 |
| Gain on sales of receivables | (4) | (3) | (4) |
| Other, net | 77 | 1 | (61) |
| Changes in assets and liabilities: | |||
| Receivables from others | 25 | (22) | 16 |
| Other receivables/payables with Caterpillar | 1 | 11 | (13) |
| Payable to dealers and others | (95) | (34) | 2 |
| Accrued interest payable | (22) | (13) | (17) |
| Accrued expenses and other liabilities, net | (4) | (18) | (51) |
| Income taxes payable | (65) | 48 | 34 |
| Payments on interest rate swaps | (2) | (4) | (2) |
| Net cash provided by operating activities | 1,096 | 1,034 | 968 |
| Cash flows from investing activities: | |||
| Capital expenditures for equipment on operating leases and other capital expenditures | (1,822) | (1,660) | (1,190) |
| Proceeds from disposals of equipment | 681 | 875 | 1,161 |
| Additions to finance receivables | (14,075) | (18,750) | (17,053) |
| Collections of finance receivables | 12,256 | 14,789 | 15,259 |
| Net changes in Caterpillar purchased receivables | 181 | 250 | (1,164) |
| Proceeds from sales of receivables | 227 | 144 | 207 |
| Net change in variable lending to Caterpillar | 32 | (32) | 55 |
| Additions to other notes receivable with Caterpillar | (45) | (107) | (184) |
| Collections on other notes receivable with Caterpillar | 29 | 103 | 77 |
| Restricted cash and cash equivalents activity, net | 2 | 45 | 27 |
| Other, net | 3 | (4) | 6 |
| Net cash (used in) provided by investing activities | (2,531) | (4,347) | (2,799) |
| Cash flows from financing activities: | |||
| Net change in variable lending from Caterpillar | (65) | 203 | 0 |
| Proceeds from borrowings with Caterpillar | 1,000 | 0 | 0 |
| Payments on borrowings with Caterpillar | 0 | 0 | (600) |
| Proceeds from debt issued (original maturities greater than three months) | 9,133 | 13,806 | 10,873 |
| Payments on debt issued (original maturities greater than three months) | (9,101) | (9,935) | (8,277) |
| Short-term borrowings, net (original maturities three months or less) | (70) | 480 | (97) |
| Dividend paid to Caterpillar | (200) | (250) | (600) |
| Acquisition of noncontrolling interest | 0 | 0 | (7) |
| Net cash provided by (used in) financing activities | 697 | 4,304 | 1,292 |
| Effect of exchange rate changes on cash and cash equivalents | (22) | (87) | 39 |
| Increase/(decrease) in cash and cash equivalents | (760) | 904 | (500) |
| Cash and cash equivalents at beginning of period | 2,080 | 1,176 | |
| Cash and cash equivalents at end of period | 1,320 | 2,080 | 1,176 |
| Cash paid for interest | 713 | 797 | 823 |
| Cash paid for taxes | 192 | 101 | 96 |
| Cash and cash equivalents policy | All short-term investments, which consist primarily of highly liquid investments with original maturities of three months or less, are considered to be cash equivalents. | ||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
CATERPILLAR FINANCIAL SERVICES CORP | ||
Ticker: CAT Fiscal Year: 2013 | ||
Consolidated Statements of Financial Position | ||
Period Ending Dec 31, 2013 10-K/A (Amendment Filed: Nov 14, 2014) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2013 | Dec 31, 2012 | |
| Assets: | ||
| Cash and cash equivalents | $ 1,320 | 2,080 |
| Finance receivables (Note 3) | ||
| Retail notes receivable | 10,858 | 10,990 |
| Wholesale notes receivable | 4,153 | 4,238 |
| Finance leases and installment sale contracts - Retail | 14,551 | 13,695 |
| Finance leases and installment sale contracts - Wholesale | 480 | 643 |
| Total gross finance receivables | 30,042 | 29,566 |
| Less: Unearned income | (976) | (998) |
| Less: Allowance for credit losses | (387) | (429) |
| Total net finance receivables | 28,679 | 28,139 |
| Notes receivable from Caterpillar (Note 13) | 345 | 360 |
| Equipment on operating leases, less accumulated depreciation (Note 4) | 3,544 | 2,970 |
| Deferred and refundable income taxes (Note 11) | 166 | 115 |
| Other assets | 1,060 | 1,071 |
| Total assets | 35,114 | 34,735 |
| Liabilities and stockholder's equity: | ||
| Payable to dealers and others | 118 | 109 |
| Payable to Caterpillar - other | 80 | 73 |
| Accrued expenses | 251 | 267 |
| Income taxes payable | 52 | 70 |
| Payable to Caterpillar borrowings (Note 13) | 1,118 | 208 |
| Short-term borrowings (Note 7) | 3,663 | 4,651 |
| Current maturities of long-term debt (Note 8) | 6,592 | 5,991 |
| Long-term debt (Note 8) | 18,737 | 19,098 |
| Deferred income taxes and other liabilities (Note 11) | 512 | 548 |
| Total liabilities | 31,123 | 31,015 |
| Commitments and contingent liabilities (Note 10) | ||
| Common stock - $1 par value Authorized: 2,000 shares; Issued and outstanding: one share (at paid-in amount) | 745 | 745 |
| Additional paid-in capital | 2 | 2 |
| Retained earnings | 3,004 | 2,691 |
| Accumulated other comprehensive income/(loss) | 117 | 176 |
| Noncontrolling interests | 123 | 106 |
| Total stockholder's equity | 3,991 | 3,720 |
| Total liabilities and stockholder's equity | 35,114 | 34,735 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
CATERPILLAR FINANCIAL SERVICES CORP | |||
Ticker: CAT Fiscal Year: 2013 | |||
Consolidated Results of Operations | |||
Period Ending Dec 31, 2013 10-K (Filed: Feb 18, 2014) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | |
| Sales and revenues: | |||
| Sales of Machinery and Power Systems | $ 52,694 | 63,068 | 57,392 |
| Revenues of Financial Products | 2,962 | 2,807 | 2,746 |
| Total sales and revenues | 55,656 | 65,875 | 60,138 |
| Operating costs: | |||
| Cost of goods sold | 40,727 | 47,055 | 43,578 |
| Selling, general and administrative expenses | 5,547 | 5,919 | 5,203 |
| Research and development expenses | 2,046 | 2,466 | 2,297 |
| Interest expense of Financial Products | 727 | 797 | 826 |
| Goodwill impairment charge | 0 | 580 | 0 |
| Other operating (income) expenses | 981 | 485 | 1,081 |
| Total operating costs | 50,028 | 57,302 | 52,985 |
| Operating profit | 5,628 | 8,573 | 7,153 |
| Interest expense excluding Financial Products | 465 | 467 | 396 |
| Other income (expense) | (35) | 130 | (32) |
| Consolidated profit before taxes | 5,128 | 8,236 | 6,725 |
| Provision (benefit) for income taxes | 1,319 | 2,528 | 1,720 |
| Profit of consolidated companies | 3,809 | 5,708 | 5,005 |
| Equity in profit (loss) of unconsolidated affiliated companies | (6) | 14 | (24) |
| Profit of consolidated and affiliated companies | 3,803 | 5,722 | 4,981 |
| Less: Profit (loss) attributable to noncontrolling interests | 14 | 41 | 53 |
| Profit | 3,789 | 5,681 | 4,928 [1] |
| Profit per common share (in dollars per share) | 5.87 | 8.71 | 7.64 |
| Profit per common share - diluted (in dollars per share) | 5.75 | 8.48 [2] | 7.40 |
| Weighted-average common shares outstanding (millions) | |||
| Basic (in shares) | 645,200 | 652,600 | 645,000 |
| Diluted (in shares) | 658,600 | 669,600 | 666,100 |
| Cash dividends declared per common share (in dollars per share) | 2.32 | 2.02 | 1.82 |
| [1] 1 Profit attributable to common stockholders. | |||
| [2] 2 Diluted by assumed exercise of stock-based compensation awards, using the treasury stock method. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
CATERPILLAR FINANCIAL SERVICES CORP | |||
Ticker: CAT Fiscal Year: 2013 | |||
Consolidated Comprehensive Income | |||
Period Ending Dec 31, 2013 10-K (Filed: Feb 18, 2014) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | |
| Profit of consolidated and affiliated companies | $ 3,803 | 5,722 | 4,981 |
| Other comprehensive income (loss), Net of Tax: | |||
| Foreign currency translation, net of tax (provision)/benefit of: 2013 - $57; 2012 - $9; 2011 - $3 | (277) | 60 | (312) |
| Pension and other postretirement benefits: | |||
| Current year actuarial gain (loss), net of tax (provision)/benefit of: 2013 - ($1,232); 2012 - $372; 2011 - $1,276 | 2,277 | (731) | (2,364) |
| Amortization of actuarial (gain) loss, net of tax (provision)/benefit of: 2013 - ($265); 2012 - ($243); 2011 - ($221) | 516 | 458 | 412 |
| Current year prior service credit (cost), net of tax (provision)/benefit of: 2013 - ($2); 2012 - ($12); 2011 - ($51) | 3 | 23 | 95 |
| Amortization of prior service (credit) cost, net of tax (provision)/benefit of: 2013 - $19; 2012 - $17; 2011 - $11 | (35) | (31) | (21) |
| Amortization of transition (asset) obligation, net of tax (provision)/benefit of: 2013 - ($1); 2012 - ($1); 2011 - ($1) | 1 | 1 | 1 |
| Derivative financial instruments: | |||
| Gains (losses) deferred, net of tax (provision)/benefit of: 2013 - $2; 2012 - $29; 2011 - $12 | (4) | (48) | (21) |
| (Gains) losses reclassified to earnings, net of tax (provision)/benefit of: 2013 - ($25); 2012 - ($10); 2011 - $21 | 41 | 16 | (34) |
| Available-for-sale securities: | |||
| Gains (losses) deferred, net of tax (provision)/benefit of: 2013 - ($15); 2012 - ($13); 2011 - $2 | 29 | 26 | (5) |
| (Gains) losses reclassified to earnings, net of tax (provision)/benefit of: 2013 - $6; 2012 - $1; 2011 - ($1) | (13) | (3) | 1 |
| Total other comprehensive income (loss), net of tax | 2,538 | (229) | (2,248) |
| Comprehensive income | 6,341 | 5,493 | 2,733 |
| Less: comprehensive income attributable to the noncontrolling interests | (17) | (24) | (82) |
| Comprehensive income attributable to stockholders | 6,324 | 5,469 | 2,651 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
CATERPILLAR FINANCIAL SERVICES CORP | |||
Ticker: CAT Fiscal Year: 2013 | |||
Consolidated Statement of Cash Flow | |||
Period Ending Dec 31, 2013 10-K (Filed: Feb 18, 2014) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | |
| Cash flow from operating activities: | |||
| Profit of consolidated and affiliated companies | $ 3,803 | 5,722 | 4,981 |
| Adjustments for non-cash items: | |||
| Depreciation and amortization | 3,087 | 2,813 | 2,527 |
| Net gain from sale of businesses and investments | (68) | (630) | (128) |
| Goodwill impairment charge | 0 | 580 | 0 |
| Other | 550 | 439 | 585 |
| Changes in assets and liabilities, net of acquisitions and divestitures: | |||
| Receivables - trade and other | 835 | (15) | (1,409) |
| Inventories | 2,658 | (1,149) | (2,927) |
| Accounts payable | 134 | (1,868) | 1,555 |
| Accrued expenses | (108) | 126 | 255 |
| Accrued wages, salaries and employee benefits | (279) | (490) | 619 |
| Customer advances | (301) | 83 | 237 |
| Other assets - net | (49) | 252 | (91) |
| Other liabilities - net | (71) | (679) | 753 |
| Net cash provided by (used for) operating activities | 10,191 | 5,184 | 6,957 |
| Cash flow from investing activities: | |||
| Capital expenditures - excluding equipment leased to others | (2,522) | (3,350) | (2,515) |
| Expenditures for equipment leased to others | (1,924) | (1,726) | (1,409) |
| Proceeds from disposals of leased assets and property, plant and equipment | 844 | 1,117 | 1,354 |
| Additions to finance receivables | (11,422) | (12,010) | (10,001) |
| Collections of finance receivables | 9,567 | 8,995 | 8,874 |
| Proceeds from sale of finance receivables | 220 | 132 | 207 |
| Investments and acquisitions (net of cash acquired) | (195) | (618) | (8,184) |
| Proceeds from sale of businesses and investments (net of cash sold) | 365 | 1,199 | 376 |
| Proceeds from sale of available-for-sale securities | 449 | 306 | 247 |
| Investments in available-for-sale securities | (402) | (402) | (336) |
| Other - net | (26) | 167 | (40) |
| Net cash provided by (used for) investing activities | (5,046) | (6,190) | (11,427) |
| Cash flow from financing activities: | |||
| Dividends paid | (1,111) | (1,617) | (1,159) |
| Distribution to noncontrolling interests | (13) | (6) | (3) |
| Common stock issued, including treasury shares reissued | 128 | 52 | 123 |
| Treasury shares purchased | (2,000) | 0 | 0 |
| Excess tax benefit from stock-based compensation | 96 | 192 | 189 |
| Acquisitions of redeemable noncontrolling interests | 0 | (444) | 0 |
| Acquisitions of noncontrolling interests | 0 | (5) | (8) |
| Proceeds from debt issued (original maturities greater than three months): | |||
| Machinery and Power Systems | 195 | 2,209 | 4,587 |
| Financial Products | 9,133 | 13,806 | 10,873 |
| Payments on debt (original maturities greater than three months): | |||
| Machinery and Power Systems | (1,769) | (1,107) | (2,269) |
| Financial Products | (9,101) | (9,940) | (8,277) |
| Short-term borrowings - net (original maturities three months or less) | (69) | 466 | (37) |
| Net cash provided by (used for) financing activities | (4,511) | 3,606 | 4,019 |
| Effect of exchange rate changes on cash | (43) | (167) | (84) |
| Increase (decrease) in cash and short-term investments | 591 | 2,433 | (535) |
| Cash and short-term investments at beginning of period | 5,490 | 3,057 | |
| Cash and short-term investments at end of period | 6,081 | 5,490 | 3,057 |
| Non-cash activities: | |||
| Debt exchange original debentures amount | 1,325 | ||
| Debt exchange new debentures amount | 1,722 | ||
| Debt exchange new debentures interest rate (as a percent) | 3.80% | ||
| Debt exchange new debentures due date (year) | 2042 | ||
| Debt exchange cash paid | 179 | ||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
CATERPILLAR FINANCIAL SERVICES CORP | ||
Ticker: CAT Fiscal Year: 2013 | ||
Consolidated Financial Position | ||
Period Ending Dec 31, 2013 10-K (Filed: Feb 18, 2014) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2013 | Dec 31, 2012 | |
| Assets | ||
| Current assets: | ||
| Cash and short-term investments | $ 6,081 | 5,490 |
| Receivables - trade and other | 8,413 | 9,706 |
| Receivables - finance | 8,763 | 8,860 |
| Deferred and refundable income taxes | 1,553 | 1,547 |
| Prepaid expenses and other current assets | 900 | 988 |
| Inventories | 12,625 | 15,547 |
| Total current assets | 38,335 | 42,138 |
| Property, plant and equipment - net | 17,075 | 16,461 |
| Long-term receivables - trade and other | 1,397 | 1,316 |
| Long-term receivables - finance | 14,926 | 14,029 |
| Investments in unconsolidated affiliated companies | 272 | 272 |
| Noncurrent deferred and refundable income taxes | 594 | 2,011 |
| Intangible assets | 3,596 | 4,016 |
| Goodwill | 6,956 | 6,942 |
| Other assets | 1,745 | 1,785 |
| Total assets | 84,896 | 88,970 |
| Liabilities | ||
| Current liabilities: | ||
| Short-term borrowings: | ||
| Machinery and Power Systems | 16 | 636 |
| Financial Products | 3,663 | 4,651 |
| Accounts payable | 6,560 | 6,753 |
| Accrued expenses | 3,493 | 3,667 |
| Accrued wages, salaries and employee benefits | 1,622 | 1,911 |
| Customer advances | 2,360 | 2,638 |
| Dividends payable | 382 | 0 |
| Other current liabilities | 1,849 | 2,055 |
| Long-term debt due within one year: | ||
| Machinery and Power Systems | 760 | 1,113 |
| Financial Products | 6,592 | 5,991 |
| Total current liabilities | 27,297 | 29,415 |
| Long-term debt due after one year: | ||
| Machinery and Power Systems | 7,999 | 8,666 |
| Financial Products | 18,720 | 19,086 |
| Liability for postemployment benefits | 6,973 | 11,085 |
| Other liabilities | 3,029 | 3,136 |
| Total liabilities | 64,018 | 71,388 |
| Commitments and contingencies (Notes 21 and 22) | ||
| Redeemable noncontrolling interest (Note 25) | 0 | 0 |
| Stockholders' equity | ||
| Common stock of $1.00 par: Authorized shares: 2,000,000,000 Issued shares: (2013, 2012 and 2011 - 814,894,624) at paid-in amount | 4,709 | 4,481 |
| Treasury stock: (2013 177,072,282; 2012 159,846,131 shares; and 2011 167,361,280 shares) at cost | (11,854) | (10,074) |
| Profit employed in the business | 31,854 | 29,558 |
| Accumulated other comprehensive income (loss) | (3,898) | (6,433) |
| Noncontrolling interests | 67 | 50 |
| Total stockholders' equity | 20,878 | 17,582 |
| Total liabilities, redeemable noncontrolling interest and stockholders' equity | 84,896 | 88,970 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
CATERPILLAR FINANCIAL SERVICES CORP | |||
Ticker: CAT Fiscal Year: 2013 | |||
Consolidated Statements of Profit | |||
Period Ending Dec 31, 2013 10-K (Superseded Filed: Feb 18, 2014) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | |
| Revenues: | |||
| Retail finance | $ 1,388 | 1,342 | 1,291 |
| Operating lease | 945 | 860 | 870 |
| Wholesale finance | 306 | 335 | 299 |
| Other, net | 144 | 156 | 185 |
| Total revenues | 2,783 | 2,693 | 2,645 |
| Expenses: | |||
| Interest | 734 | 801 | 827 |
| Depreciation on equipment leased to others | 768 | 688 | 690 |
| General, operating and administrative | 427 | 416 | 405 |
| Provision for credit losses | 94 | 161 | 176 |
| Other | 24 | 29 | 34 |
| Total expenses | 2,047 | 2,095 | 2,132 |
| Other income (expense) | (18) | (7) | (9) |
| Profit before income taxes | 718 | 591 | 504 |
| Provision for income taxes | 174 | 148 | 111 |
| Profit of consolidated companies | 544 | 443 | 393 |
| Less: Profit attributable to noncontrolling interests | 14 | 11 | 15 |
| Profit | 530 | 432 | 378 [1] |
| [1] Profit attributable to Caterpillar Financial Services Corporation. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
CATERPILLAR FINANCIAL SERVICES CORP | |||
Ticker: CAT Fiscal Year: 2013 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 31, 2013 10-K (Superseded Filed: Feb 18, 2014) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | |
| Profit of consolidated companies | $ 544 | 443 | 393 |
| Other comprehensive income (loss), net of tax: | |||
| Foreign currency translation, net of tax (expense)/benefit | (59) | 62 | (105) |
| Derivative financial instruments: | |||
| Gains (losses) deferred, net of tax (expense)/benefit | (1) | 1 | (1) |
| (Gains) losses reclassified to earnings, net of tax (expense)/benefit | 4 | (3) | 9 |
| Total Other comprehensive income (loss), net of tax | (56) | 60 | (97) |
| Comprehensive income (loss) | 488 | 503 | 296 |
| Less: Comprehensive income attributable to the noncontrolling interests | 17 | 11 | 12 |
| Comprehensive income (loss) attributable to Caterpillar Financial Services Corporation | 471 | 492 | 284 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
CATERPILLAR FINANCIAL SERVICES CORP | |||
Ticker: CAT Fiscal Year: 2013 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2013 10-K (Superseded Filed: Feb 18, 2014) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | |
| Cash flows from operating activities: | |||
| Profit of consolidated companies | $ 544 | 443 | 393 |
| Adjustments for non-cash items: | |||
| Depreciation and amortization | 788 | 707 | 710 |
| Amortization of receivables purchase discount | (233) | (241) | (212) |
| Provision for credit losses | 94 | 161 | 176 |
| Gain on sales of receivables | (4) | (3) | (4) |
| Other, net | 60 | (4) | (66) |
| Changes in assets and liabilities: | |||
| Receivables from others | 26 | (22) | 16 |
| Other receivables/payables with Caterpillar | 5 | 15 | (8) |
| Payable to dealers and others | (95) | (34) | 2 |
| Accrued interest payable | (22) | (13) | (17) |
| Accrued expenses and other liabilities, net | 3 | (15) | (49) |
| Income taxes payable | (65) | 48 | 34 |
| Payments on interest rate swaps | (2) | (4) | (2) |
| Net cash provided by operating activities | 1,099 | 1,038 | 973 |
| Cash flows from investing activities: | |||
| Capital expenditures for equipment on operating leases and other capital expenditures | (1,806) | (1,660) | (1,190) |
| Proceeds from disposals of equipment | 681 | 875 | 1,161 |
| Additions to finance receivables | (14,095) | (18,754) | (17,058) |
| Collections of finance receivables | 12,257 | 14,789 | 15,259 |
| Net changes in Caterpillar purchased receivables | 181 | 250 | (1,164) |
| Proceeds from sales of receivables | 227 | 144 | 207 |
| Net change in variable lending to Caterpillar | 32 | (32) | 55 |
| Additions to other notes receivable with Caterpillar | (45) | (107) | (184) |
| Collections on other notes receivable with Caterpillar | 29 | 103 | 77 |
| Restricted cash and cash equivalents activity, net | 2 | 45 | 27 |
| Other, net | 3 | (4) | 6 |
| Net cash (used in) provided by investing activities | (2,534) | (4,351) | (2,804) |
| Cash flows from financing activities: | |||
| Net change in variable lending from Caterpillar | (65) | 203 | 0 |
| Proceeds from borrowings with Caterpillar | 1,000 | 0 | 0 |
| Payments on borrowings with Caterpillar | 0 | 0 | (600) |
| Proceeds from debt issued (original maturities greater than three months) | 9,133 | 13,806 | 10,873 |
| Payments on debt issued (original maturities greater than three months) | (9,101) | (9,935) | (8,277) |
| Short-term borrowings, net (original maturities three months or less) | (70) | 480 | (97) |
| Dividend paid to Caterpillar | (200) | (250) | (600) |
| Acquisition of noncontrolling interest | 0 | 0 | (7) |
| Net cash provided by (used in) financing activities | 697 | 4,304 | 1,292 |
| Effect of exchange rate changes on cash and cash equivalents | (22) | (87) | 39 |
| Increase/(decrease) in cash and cash equivalents | (760) | 904 | (500) |
| Cash and cash equivalents at beginning of period | 2,080 | 1,176 | |
| Cash and cash equivalents at end of period | 1,320 | 2,080 | 1,176 |
| Cash paid for interest | 713 | 797 | 823 |
| Cash paid for taxes | 192 | 101 | 96 |
| Cash and cash equivalents policy | All short-term investments, which consist primarily of highly liquid investments with original maturities of three months or less, are considered to be cash equivalents. | ||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
CATERPILLAR FINANCIAL SERVICES CORP | ||
Ticker: CAT Fiscal Year: 2013 | ||
Consolidated Statements of Financial Position | ||
Period Ending Dec 31, 2013 10-K (Superseded Filed: Feb 18, 2014) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2013 | Dec 31, 2012 | |
| Assets: | ||
| Cash and cash equivalents | $ 1,320 | 2,080 |
| Finance receivables (Note 3) | ||
| Retail notes receivable | 10,863 | 11,111 |
| Wholesale notes receivable | 4,153 | 4,238 |
| Finance leases and installment sale contracts - Retail | 14,582 | 13,589 |
| Finance leases and installment sale contracts - Wholesale | 480 | 643 |
| Total gross finance receivables | 30,078 | 29,581 |
| Less: Unearned income | (976) | (998) |
| Less: Allowance for credit losses | (378) | (426) |
| Total net finance receivables | 28,724 | 28,157 |
| Notes receivable from Caterpillar (Note 13) | 345 | 360 |
| Equipment on operating leases, less accumulated depreciation (Note 4) | 3,530 | 2,959 |
| Deferred and refundable income taxes (Note 11) | 160 | 115 |
| Other assets | 1,059 | 1,071 |
| Total assets | 35,138 | 34,742 |
| Liabilities and stockholder's equity: | ||
| Payable to dealers and others | 118 | 109 |
| Payable to Caterpillar - other | 96 | 85 |
| Accrued expenses | 251 | 267 |
| Income taxes payable | 52 | 70 |
| Payable to Caterpillar borrowings (Note 13) | 1,118 | 208 |
| Short-term borrowings (Note 7) | 3,663 | 4,651 |
| Current maturities of long-term debt (Note 8) | 6,592 | 5,991 |
| Long-term debt (Note 8) | 18,720 | 19,086 |
| Deferred income taxes and other liabilities (Note 11) | 517 | 552 |
| Total liabilities | 31,127 | 31,019 |
| Commitments and contingent liabilities (Note 10) | ||
| Common stock - $1 par value Authorized: 2,000 shares; Issued and outstanding: one share (at paid-in amount) | 745 | 745 |
| Additional paid-in capital | 2 | 2 |
| Retained earnings | 3,024 | 2,694 |
| Accumulated other comprehensive income/(loss) | 117 | 176 |
| Noncontrolling interests | 123 | 106 |
| Total stockholder's equity | 4,011 | 3,723 |
| Total liabilities and stockholder's equity | 35,138 | 34,742 |
| External Links | |
| CATERPILLAR FINANCIAL SERVICES CORP (CAT) Fiscal Year 2013 | |
| Statements of 10-K in Excel | https://www.sec.gov/.../Financial.xlxs |
| Complete 10-K in HTML | https://www.sec.gov/.../10-K.html |
| Complete 10-K in XBRL | https://www.sec.gov/.../10-K-xbrl.zip |