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: 2015 | |||
Consolidated Results of Operations | |||
Period Ending Dec 31, 2015 10-K (Filed: Feb 16, 2016) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | |
| Sales and revenues: | |||
| Sales of Machinery, Energy & Transportation | $ 44,147 | 52,142 | 52,694 |
| Revenues of Financial Products | 2,864 | 3,042 | 2,962 |
| Total sales and revenues | 47,011 | 55,184 | 55,656 |
| Operating costs: | |||
| Cost of goods sold | 33,742 | 39,767 | 40,727 |
| Selling, general and administrative expenses | 5,199 | 5,697 | 5,547 |
| Research and development expenses | 2,165 | 2,135 | 2,046 |
| Interest expense of Financial Products | 587 | 624 | 727 |
| Goodwill impairment charge | 0 | 0 | 0 |
| Other operating (income) expenses | 2,062 | 1,633 | 981 |
| Total operating costs | 43,755 | 49,856 | 50,028 |
| Operating profit | 3,256 | 5,328 | 5,628 |
| Interest expense excluding Financial Products | 507 | 484 | 465 |
| Other income (expense) | 106 | 239 | (35) |
| Consolidated profit before taxes | 2,855 | 5,083 | 5,128 |
| Provision (benefit) for income taxes | 742 | 1,380 | 1,319 |
| Profit of consolidated companies | 2,113 | 3,703 | 3,809 |
| Equity in profit (loss) of unconsolidated affiliated companies | 0 | 8 | (6) |
| Profit of consolidated and affiliated companies | 2,113 | 3,711 | 3,803 |
| Less: Profit (loss) attributable to noncontrolling interests | 11 | 16 | 14 |
| Profit | 2,102 [1] | 3,695 | 3,789 |
| Profit per common share (in dollars per share) | 3.54 | 5.99 | 5.87 |
| Profit per common share - diluted (in dollars per share) | 3.50 | 5.88 [2] | 5.75 |
| Weighted-average common shares outstanding (millions) | |||
| Basic (in shares) | 594,300 | 617,200 | 645,200 |
| Diluted (in shares) | 601,300 | 628,900 | 658,600 |
| Cash dividends declared per common share (in dollars per share) | 3.01 | 2.70 | 2.32 |
| [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: 2015 | |||
Consolidated Comprehensive Income | |||
Period Ending Dec 31, 2015 10-K (Filed: Feb 16, 2016) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | |
| Profit of consolidated and affiliated companies | $ 2,113 | 3,711 | 3,803 |
| Other comprehensive income (loss), Net of Tax: | |||
| Foreign currency translation, net of tax (provision)/benefit of: 2015 - $(82); 2014 - $(78); 2013 - $57 | (977) | (1,164) | (277) |
| Pension and other postretirement benefits: | |||
| Current year actuarial gain (loss), net of tax (provision)/benefit of: 2015 - $19; 2014 - $838; 2013 - $(1,232) | (10) | (1,578) | 2,277 |
| Amortization of actuarial (gain) loss, net of tax (provision)/benefit of: 2015 - $(217); 2014 - $(175); 2013 - $(265) | 424 | 344 | 516 |
| Current year prior service credit (cost), net of tax (provision)/benefit of: 2015 - $5; 2014 - $(2); 2013 - $(2) | (3) | 4 | 3 |
| Amortization of prior service (credit) cost, net of tax (provision)/benefit of: 2015 - $18; 2014 - $13; 2013 - $19 | (35) | (25) | (35) |
| Amortization of transition (asset) obligation, net of tax (provision)/benefit of: 2015 - $0; 2014 - $0; 2013 - $(1) | 0 | 0 | 1 |
| Derivative financial instruments: | |||
| Gains (losses) deferred, net of tax (provision)/benefit of: 2015 - $11; 2014 - $69; 2013 - $2 | (19) | (118) | (4) |
| (Gains) losses reclassified to earnings, net of tax (provision)/benefit of: 2015 - $(51); 2014 - $(2); 2013 - $(25) | 88 | 4 | 41 |
| Available-for-sale securities: | |||
| Gains (losses) deferred, net of tax (provision)/benefit of: 2015 - $9; 2014 - $(12); 2013 - $(15) | (10) | 24 | 29 |
| (Gains) losses reclassified to earnings, net of tax (provision)/benefit of: 2015 - $20 2014 - $11; 2013 - $6 | (36) | (24) | (13) |
| Total other comprehensive income (loss), net of tax | (578) | (2,533) | 2,538 |
| Comprehensive income | 1,535 | 1,178 | 6,341 |
| Less: comprehensive income attributable to the noncontrolling interests | 1 | (16) | (17) |
| Comprehensive income attributable to stockholders | 1,536 | 1,162 | 6,324 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
CATERPILLAR FINANCIAL SERVICES CORP | |||
Ticker: CAT Fiscal Year: 2015 | |||
Consolidated Statement of Cash Flow | |||
Period Ending Dec 31, 2015 10-K (Filed: Feb 16, 2016) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | |
| Cash flow from operating activities: | |||
| Profit of consolidated and affiliated companies | $ 2,113 | 3,711 | 3,803 |
| Adjustments for non-cash items: | |||
| Depreciation and amortization | 3,046 | 3,163 | 3,087 |
| Goodwill impairment charge | 0 | 0 | 0 |
| Other | 508 | 553 | 482 |
| Changes in assets and liabilities, net of acquisitions and divestitures: | |||
| Receivables - trade and other | 764 | 163 | 835 |
| Inventories | 2,274 | 101 | 2,658 |
| Accounts payable | (1,165) | 222 | 134 |
| Accrued expenses | (199) | (10) | (108) |
| Accrued wages, salaries and employee benefits | (389) | 901 | (279) |
| Customer advances | (501) | (593) | (301) |
| Other assets - net | (220) | (300) | (49) |
| Other liabilities - net | 444 | 146 | (71) |
| Net cash provided by (used for) operating activities | 6,675 | 8,057 | 10,191 |
| Cash flow from investing activities: | |||
| Capital expenditures - excluding equipment leased to others | (1,388) | (1,539) | (2,522) |
| Expenditures for equipment leased to others | (1,873) | (1,840) | (1,924) |
| Proceeds from disposals of leased assets and property, plant and equipment | 760 | 904 | 844 |
| Additions to finance receivables | (9,929) | (11,278) | (11,422) |
| Collections of finance receivables | 9,247 | 9,841 | 9,567 |
| Proceeds from sale of finance receivables | 136 | 177 | 220 |
| Investments and acquisitions (net of cash acquired) | (400) | (30) | (195) |
| Proceeds from sale of businesses and investments (net of cash sold) | 178 | 199 | 365 |
| Proceeds from sale of securities | 351 | 810 | 449 |
| Investments in securities | (485) | (825) | (402) |
| Other - net | (114) | (46) | (26) |
| Net cash provided by (used for) investing activities | (3,517) | (3,627) | (5,046) |
| Cash flow from financing activities: | |||
| Dividends paid | (1,757) | (1,620) | (1,111) |
| Distribution to noncontrolling interests | (7) | (7) | (13) |
| Contribution from noncontrolling interests | 0 | 4 | 0 |
| Common stock issued, including treasury shares reissued | 33 | 239 | 128 |
| Treasury shares purchased | (2,025) | (4,238) | (2,000) |
| Excess tax benefit from stock-based compensation | 24 | 182 | 96 |
| Proceeds from debt issued (original maturities greater than three months): | |||
| Machinery, Energy & Transportation | 3 | 1,994 | 195 |
| Financial Products | 5,129 | 8,655 | 9,133 |
| Payments on debt (original maturities greater than three months): | |||
| Machinery, Energy & Transportation | (517) | (785) | (1,769) |
| Financial Products | (7,775) | (8,463) | (9,101) |
| Short-term borrowings - net (original maturities three months or less) | 3,022 | 1,043 | (69) |
| Net cash provided by (used for) financing activities | (3,870) | (2,996) | (4,511) |
| Effect of exchange rate changes on cash | (169) | (174) | (43) |
| Increase (decrease) in cash and short-term investments | (881) | 1,260 | 591 |
| Cash and short-term investments at beginning of period | 7,341 | 6,081 | |
| Cash and short-term investments at end of period | 6,460 | 7,341 | 6,081 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
CATERPILLAR FINANCIAL SERVICES CORP | ||
Ticker: CAT Fiscal Year: 2015 | ||
Consolidated Financial Position | ||
Period Ending Dec 31, 2015 10-K (Filed: Feb 16, 2016) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2015 | Dec 31, 2014 | |
| Assets | ||
| Current assets: | ||
| Cash and short-term investments | $ 6,460 | 7,341 |
| Receivables - trade and other | 6,695 | 7,737 |
| Receivables - finance | 8,991 | 9,027 |
| Deferred and refundable income taxes | 1,526 | 1,739 |
| Prepaid expenses and other current assets | 1,046 | 818 |
| Inventories | 9,700 | 12,205 |
| Total current assets | 34,418 | 38,867 |
| Property, plant and equipment - net | 16,090 | 16,577 |
| Long-term receivables - trade and other | 1,170 | 1,364 |
| Long-term receivables - finance | 13,651 | 14,644 |
| Investments in unconsolidated affiliated companies | 246 | 257 |
| Noncurrent deferred and refundable income taxes | 1,654 | 1,404 |
| Intangible assets | 2,821 | 3,076 |
| Goodwill | 6,615 | 6,694 |
| Other assets | 1,832 | 1,798 |
| Total assets | 78,497 | 84,681 |
| Liabilities | ||
| Current liabilities: | ||
| Short-term borrowings: | ||
| Machinery, Energy & Transportation | 9 | 9 |
| Financial Products | 6,958 | 4,699 |
| Accounts payable | 5,023 | 6,515 |
| Accrued expenses | 3,116 | 3,548 |
| Accrued wages, salaries and employee benefits | 1,994 | 2,438 |
| Customer advances | 1,146 | 1,697 |
| Dividends payable | 448 | 424 |
| Other current liabilities | 1,730 | 1,754 |
| Long-term debt due within one year: | ||
| Machinery, Energy & Transportation | 517 | 510 |
| Financial Products | 5,362 | 6,283 |
| Total current liabilities | 26,303 | 27,877 |
| Long-term debt due after one year: | ||
| Machinery, Energy & Transportation | 9,004 | 9,493 |
| Financial Products | 16,243 | 18,291 |
| Liability for postemployment benefits | 8,843 | 8,963 |
| Other liabilities | 3,219 | 3,231 |
| Total liabilities | 63,612 | 67,855 |
| Commitments and contingencies (Notes 21 and 22) | ||
| Stockholders' equity | ||
| Common stock of $1.00 par value: Authorized shares: 2,000,000,000 Issued shares: (2015 and 2014 814,894,624 shares) at paid-in amount | 5,238 | 5,016 |
| Treasury stock: (2015 232,572,734 shares; and 2014 208,728,065 shares) at cost | (17,640) | (15,726) |
| Profit employed in the business | 34,208 | 33,887 |
| Accumulated other comprehensive income (loss) | (6,997) | (6,431) |
| Noncontrolling interests | 76 | 80 |
| Total stockholders' equity | 14,885 | 16,826 |
| Total liabilities and stockholders' equity | 78,497 | 84,681 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
CATERPILLAR FINANCIAL SERVICES CORP | |||
Ticker: CAT Fiscal Year: 2015 | |||
Consolidated Statements of Profit | |||
Period Ending Dec 31, 2015 10-K (Filed: Feb 16, 2016) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | |
| Revenues: | |||
| Retail finance | $ 1,243 | 1,366 | 1,387 |
| Operating lease | 1,012 | 1,057 | 948 |
| Wholesale finance | 285 | 311 | 306 |
| Other, net | 133 | 151 | 144 |
| Total revenues | 2,673 | 2,885 | 2,785 |
| Expenses: | |||
| Interest | 593 | 631 | 734 |
| Depreciation on equipment leased to others | 836 | 870 | 770 |
| General, operating and administrative | 415 | 433 | 427 |
| Provision for credit losses | 119 | 139 | 101 |
| Other | 64 | 37 | 24 |
| Total expenses | 2,027 | 2,110 | 2,056 |
| Other income (expense) | (27) | (22) | (35) |
| Profit before income taxes | 619 | 753 | 694 |
| Provision for income taxes | 158 | 209 | 167 |
| Profit of consolidated companies | 461 | 544 | 527 |
| Less: Profit attributable to noncontrolling interests | 1 | 9 | 14 |
| Profit | 460 | 535 | 513 [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: 2015 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 31, 2015 10-K (Filed: Feb 16, 2016) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | |
| Profit of consolidated companies | $ 461 | 544 | 527 |
| Other comprehensive income (loss), net of tax: | |||
| Foreign currency translation, net of tax (expense)/benefit | (545) | (481) | (59) |
| Derivative financial instruments: | |||
| Gains (losses) deferred, net of tax (expense)/benefit | 2 | (4) | (1) |
| (Gains) losses reclassified to earnings, net of tax expense/(benefit) | 3 | 4 | 4 |
| Total Other comprehensive income (loss), net of tax | (540) | (481) | (56) |
| Comprehensive income (loss) | (79) | 63 | 471 |
| Less: Comprehensive income (loss) attributable to the noncontrolling interests | (6) | 9 | 17 |
| Comprehensive income (loss) attributable to Caterpillar Financial Services Corporation | (73) | 54 | 454 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
CATERPILLAR FINANCIAL SERVICES CORP | ||
Ticker: CAT Fiscal Year: 2015 | ||
Consolidated Statements of Financial Position | ||
Period Ending Dec 31, 2015 10-K (Filed: Feb 16, 2016) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2015 | Dec 31, 2014 | |
| Assets: | ||
| Cash and cash equivalents | $ 1,016 | 857 |
| Finance receivables, net (Note 3) | 27,388 | 29,074 |
| Notes receivable from Caterpillar (Note 14) | 490 | 414 |
| Equipment on operating leases, less accumulated depreciation (Note 4) | 3,564 | 3,624 |
| Deferred and refundable income taxes (Note 12) | 240 | 206 |
| Other assets (Note 5) | 1,205 | 1,001 |
| Total assets | 33,903 | 35,176 |
| Liabilities and stockholder's equity: | ||
| Payable to dealers and others | 137 | 113 |
| Payable to Caterpillar - other | 62 | 69 |
| Accrued expenses | 200 | 212 |
| Income taxes payable | 47 | 66 |
| Payable to Caterpillar borrowings (Note 14) | 1,096 | 1,108 |
| Short-term borrowings (Note 8) | 6,958 | 4,699 |
| Current maturities of long-term debt (Note 9) | 5,362 | 6,283 |
| Long-term debt (Note 9) | 16,243 | 18,291 |
| Deferred income taxes and other liabilities (Note 12) | 823 | 681 |
| Total liabilities | 30,928 | 31,522 |
| Commitments and contingent liabilities (Note 11) | ||
| 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 | 2,999 | 3,139 |
| Accumulated other comprehensive income/(loss) | (897) | (364) |
| Noncontrolling interests | 126 | 132 |
| Total stockholder's equity | 2,975 | 3,654 |
| Total liabilities and stockholder's equity | 33,903 | 35,176 |
| External Links | |
| CATERPILLAR FINANCIAL SERVICES CORP (CAT) Fiscal Year 2015 | |
| 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 |