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: 2016 | |||
Consolidated Results of Operations | |||
Period Ending Dec 31, 2016 10-K (Filed: Feb 15, 2017) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | |
| Sales and revenues: | |||
| Sales of Machinery, Energy & Transportation | $ 35,773 | 44,147 | 52,142 |
| Revenues of Financial Products | 2,764 | 2,864 | 3,042 |
| Total sales and revenues | 38,537 | 47,011 | 55,184 |
| Operating costs: | |||
| Cost of goods sold | 28,309 | 33,546 | 40,718 |
| Selling, general and administrative expenses | 4,686 | 4,951 | 6,529 |
| Research and development expenses | 1,951 | 2,119 | 2,380 |
| Interest expense of Financial Products | 596 | 587 | 624 |
| Goodwill impairment charge | 595 | 0 | 0 |
| Other operating (income) expenses | 1,902 | 2,023 | 1,619 |
| Total operating costs | 38,039 | 43,226 | 51,870 |
| Operating profit | 498 | 3,785 | 3,314 |
| Interest expense excluding Financial Products | 505 | 507 | 484 |
| Other income (expense) | 146 | 161 | 322 |
| Consolidated profit before taxes | 139 | 3,439 | 3,152 |
| Provision (benefit) for income taxes | 192 | 916 | 692 |
| Profit (loss) of consolidated companies | (53) | 2,523 | 2,460 |
| Equity in profit (loss) of unconsolidated affiliated companies | (6) | 0 | 8 |
| Profit (loss) of consolidated and affiliated companies | (59) | 2,523 | 2,468 |
| Less: Profit (loss) attributable to noncontrolling interests | 8 | 11 | 16 |
| Profit (loss) | (67) | 2,512 [1] | 2,452 |
| Profit (loss) per common share (in dollars per share) | (0.11) | 4.23 | 3.97 |
| Profit (loss) per common share - diluted (in dollars per share) | (0.11) | 4.18 | 3.90 [2] |
| Weighted-average common shares outstanding (millions) | |||
| Basic (in shares) | 584,300 | 594,300 | 617,200 |
| Diluted (in shares) | 584,300 | 601,300 | 628,900 |
| Cash dividends declared per common share (in dollars per share) | 3.08 | 3.01 | 2.70 |
| [2] 2 Diluted by assumed exercise of stock-based compensation awards, using the treasury stock method. | |||
| [1] 1 Profit (loss) attributable to common stockholders. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
CATERPILLAR FINANCIAL SERVICES CORP | |||
Ticker: CAT Fiscal Year: 2016 | |||
Consolidated Comprehensive Income | |||
Period Ending Dec 31, 2016 10-K (Filed: Feb 15, 2017) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | |
| Profit (loss) of consolidated and affiliated companies | $ (59) | 2,523 | 2,468 |
| Other comprehensive income (loss), Net of Tax: | |||
| Foreign currency translation, net of tax (provision)/benefit of: 2016 - $(30); 2015 - $(82); 2014 - $(78) | (17) | (973) | (1,155) |
| Pension and other postretirement benefits: | |||
| Current year actuarial gain (loss), net of tax (provision)/benefit of: 2016 - $0; 2015 - $0; 2014 - $(0) | 0 | 0 | 0 |
| Amortization of actuarial (gain) loss, net of tax (provision)/benefit of: 2016 - $(0); 2015 - $(0); 2014 - $(0) | 0 | 0 | 0 |
| Current year prior service credit (cost), net of tax (provision)/benefit of: 2016 - $(69); 2015 - $5; 2014 - $(2) | 118 | (3) | 4 |
| Amortization of prior service (credit) cost, net of tax (provision)/benefit of: 2016 - $21; 2015 - $18; 2014 - $13 | (35) | (35) | (25) |
| Derivative financial instruments: | |||
| Gains (losses) deferred, net of tax (provision)/benefit of: 2016 - $33; 2015 - $11; 2014 - $69 | (62) | (19) | (118) |
| (Gains) losses reclassified to earnings, net of tax (provision)/benefit of: 2016 - $2; 2015 - $(51); 2014 - $(2) | (3) | 88 | 4 |
| Available-for-sale securities: | |||
| Gains (losses) deferred, net of tax (provision)/benefit of: 2016 - $(12); 2015 - $9; 2014 - $(12) | 26 | (10) | 24 |
| (Gains) losses reclassified to earnings, net of tax (provision)/benefit of: 2016 - $15 2015 - $20; 2014 - $11 | (31) | (36) | (24) |
| Total other comprehensive income (loss), net of tax | (4) | (988) | (1,290) |
| Comprehensive income | (63) | 1,535 | 1,178 |
| Less: comprehensive income attributable to the noncontrolling interests | (8) | 1 | (16) |
| Comprehensive income attributable to stockholders | (71) | 1,536 | 1,162 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
CATERPILLAR FINANCIAL SERVICES CORP | |||
Ticker: CAT Fiscal Year: 2016 | |||
Consolidated Statement of Cash Flow | |||
Period Ending Dec 31, 2016 10-K (Filed: Feb 15, 2017) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | |
| Cash flow from operating activities: | |||
| Profit (loss) of consolidated and affiliated companies | $ (59) | 2,523 | 2,468 |
| Adjustments for non-cash items: | |||
| Depreciation and amortization | 3,034 | 3,046 | 3,163 |
| Actuarial (gain) loss on pension and postretirement benefits | 985 | 179 | 2,624 |
| Provision (benefit) for deferred income taxes | (431) | (307) | (954) |
| Goodwill impairment charge | 595 | 0 | 0 |
| Other | 856 | 453 | 470 |
| Changes in assets and liabilities, net of acquisitions and divestitures: | |||
| Receivables - trade and other | 829 | 764 | 163 |
| Inventories | 1,109 | 2,274 | 101 |
| Accounts payable | (200) | (1,165) | 222 |
| Accrued expenses | (201) | (199) | (10) |
| Accrued wages, salaries and employee benefits | (708) | (389) | 901 |
| Customer advances | (37) | (501) | (593) |
| Other assets - net | 224 | 143 | (139) |
| Other liabilities - net | (388) | (146) | (359) |
| Net cash provided by (used for) operating activities | 5,608 | 6,675 | 8,057 |
| Cash flow from investing activities: | |||
| Capital expenditures - excluding equipment leased to others | (1,109) | (1,388) | (1,539) |
| Expenditures for equipment leased to others | (1,819) | (1,873) | (1,840) |
| Proceeds from disposals of leased assets and property, plant and equipment | 899 | 760 | 904 |
| Additions to finance receivables | (9,339) | (9,929) | (11,278) |
| Collections of finance receivables | 9,369 | 9,247 | 9,841 |
| Proceeds from sale of finance receivables | 127 | 136 | 177 |
| Investments and acquisitions (net of cash acquired) | (191) | (400) | (30) |
| Proceeds from sale of businesses and investments (net of cash sold) | 0 | 178 | 199 |
| Proceeds from sale of securities | 694 | 351 | 810 |
| Investments in securities | (391) | (485) | (825) |
| Other - net | 0 | (114) | (46) |
| Net cash provided by (used for) investing activities | (1,760) | (3,517) | (3,627) |
| Cash flow from financing activities: | |||
| Dividends paid | (1,799) | (1,757) | (1,620) |
| Distribution to noncontrolling interests | (8) | (7) | (7) |
| Contribution from noncontrolling interests | 0 | 0 | 4 |
| Common stock issued, including treasury shares reissued | (23) | 33 | 239 |
| Treasury shares purchased | 0 | (2,025) | (4,238) |
| Excess tax benefit from stock-based compensation | 28 | 24 | 182 |
| Proceeds from debt issued (original maturities greater than three months): | |||
| Machinery, Energy & Transportation | 6 | 3 | 1,994 |
| Financial Products | 5,109 | 5,129 | 8,655 |
| Payments on debt (original maturities greater than three months): | |||
| Machinery, Energy & Transportation | (533) | (517) | (785) |
| Financial Products | (6,032) | (7,775) | (8,463) |
| Short-term borrowings - net (original maturities three months or less) | 140 | 3,022 | 1,043 |
| Net cash provided by (used for) financing activities | (3,112) | (3,870) | (2,996) |
| Effect of exchange rate changes on cash | (28) | (169) | (174) |
| Increase (decrease) in cash and short-term investments | 708 | (881) | 1,260 |
| Cash and short-term investments at beginning of period | 6,460 | 7,341 | |
| Cash and short-term investments at end of period | 7,168 | 6,460 | 7,341 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
CATERPILLAR FINANCIAL SERVICES CORP | ||
Ticker: CAT Fiscal Year: 2016 | ||
Consolidated Financial Position | ||
Period Ending Dec 31, 2016 10-K (Filed: Feb 15, 2017) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2016 | Dec 31, 2015 | |
| Assets | ||
| Current assets: | ||
| Cash and short-term investments | $ 7,168 | 6,460 |
| Receivables - trade and other | 5,981 | 6,695 |
| Receivables - finance | 8,522 | 8,991 |
| Prepaid expenses and other current assets | 1,682 | 1,662 |
| Inventories | 8,614 | 9,700 |
| Total current assets | 31,967 | 33,508 |
| Property, plant and equipment - net | 15,322 | 16,090 |
| Long-term receivables - trade and other | 1,029 | 1,170 |
| Long-term receivables - finance | 13,556 | 13,651 |
| Noncurrent deferred and refundable income taxes | 2,790 | 2,489 |
| Intangible assets | 2,349 | 2,821 |
| Goodwill | 6,020 | 6,615 |
| Other assets | 1,671 | 1,998 |
| Total assets | 74,704 | 78,342 |
| Liabilities | ||
| Current liabilities: | ||
| Short-term borrowings: | ||
| Machinery, Energy & Transportation | 209 | 9 |
| Financial Products | 7,094 | 6,958 |
| Accounts payable | 4,614 | 5,023 |
| Accrued expenses | 3,003 | 3,116 |
| Accrued wages, salaries and employee benefits | 1,296 | 1,994 |
| Customer advances | 1,167 | 1,146 |
| Dividends payable | 452 | 448 |
| Other current liabilities | 1,635 | 1,671 |
| Long-term debt due within one year: | ||
| Machinery, Energy & Transportation | 507 | 517 |
| Financial Products | 6,155 | 5,360 |
| Total current liabilities | 26,132 | 26,242 |
| Long-term debt due after one year: | ||
| Machinery, Energy & Transportation | 8,436 | 8,960 |
| Financial Products | 14,382 | 16,209 |
| Liability for postemployment benefits | 9,357 | 8,843 |
| Other liabilities | 3,184 | 3,203 |
| Total liabilities | 61,491 | 63,457 |
| Commitments and contingencies (Notes 21 and 22) | ||
| Stockholders' equity | ||
| Common stock of $1.00 par value: Authorized shares: 2,000,000,000 Issued shares: (2016 and 2015 814,894,624 shares) at paid-in amount | 5,277 | 5,238 |
| Treasury stock: (2016 228,408,600 shares; and 2015 232,572,734 shares) at cost | (17,478) | (17,640) |
| Profit employed in the business | 27,377 | 29,246 |
| Accumulated other comprehensive income (loss) | (2,039) | (2,035) |
| Noncontrolling interests | 76 | 76 |
| Total stockholders' equity | 13,213 | 14,885 |
| Total liabilities and stockholders' equity | 74,704 | 78,342 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
CATERPILLAR FINANCIAL SERVICES CORP | |||
Ticker: CAT Fiscal Year: 2016 | |||
Consolidated Statements of Profit | |||
Period Ending Dec 31, 2016 10-K (Filed: Feb 15, 2017) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | |
| Revenues: | |||
| Retail finance | $ 1,220 | 1,243 | 1,366 |
| Operating lease | 1,015 | 1,012 | 1,057 |
| Wholesale finance | 264 | 285 | 311 |
| Other, net | 96 | 133 | 151 |
| Total revenues | 2,595 | 2,673 | 2,885 |
| Expenses: | |||
| Interest | 611 | 593 | 631 |
| Depreciation on equipment leased to others | 841 | 836 | 870 |
| General, operating and administrative | 391 | 415 | 433 |
| Provision for credit losses | 135 | 119 | 139 |
| Other | 41 | 64 | 37 |
| Total expenses | 2,019 | 2,027 | 2,110 |
| Other income (expense) | (15) | (27) | (22) |
| Profit before income taxes | 561 | 619 | 753 |
| Provision for income taxes | 171 | 158 | 209 |
| Profit of consolidated companies | 390 | 461 | 544 |
| Less: Profit attributable to noncontrolling interests | 6 | 1 | 9 |
| Profit | 384 [1] | 460 | 535 |
| [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: 2016 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 31, 2016 10-K (Filed: Feb 15, 2017) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | |
| Profit of consolidated companies | $ 390 | 461 | 544 |
| Other comprehensive income (loss), net of tax: | |||
| Foreign currency translation, net of tax (expense)/benefit | (104) | (545) | (481) |
| Derivative financial instruments: | |||
| Gains (losses) deferred, net of tax (expense)/benefit | 15 | 2 | (4) |
| (Gains) losses reclassified to earnings, net of tax expense/(benefit) | (16) | 3 | 4 |
| Total Other comprehensive income (loss), net of tax | (105) | (540) | (481) |
| Comprehensive income (loss) | 285 | (79) | 63 |
| Less: Comprehensive income (loss) attributable to the noncontrolling interests | (1) | (6) | 9 |
| Comprehensive income (loss) attributable to Caterpillar Financial Services Corporation | 286 | (73) | 54 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
CATERPILLAR FINANCIAL SERVICES CORP | ||
Ticker: CAT Fiscal Year: 2016 | ||
Consolidated Statements of Financial Position | ||
Period Ending Dec 31, 2016 10-K (Filed: Feb 15, 2017) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2016 | Dec 31, 2015 | |
| Assets: | ||
| Cash and cash equivalents | $ 1,795 | 1,016 |
| Finance receivables, net (Note 3) | 26,212 | 27,388 |
| Notes receivable from Caterpillar (Note 14) | 530 | 490 |
| Equipment on operating leases, less accumulated depreciation (Note 4) | 3,708 | 3,564 |
| Deferred and refundable income taxes (Note 12) | 119 | 240 |
| Other assets (Note 5) | 1,251 | 1,169 |
| Total assets | 33,615 | 33,867 |
| Liabilities and stockholder's equity: | ||
| Payable to dealers and others | 140 | 137 |
| Payable to Caterpillar - other | 49 | 62 |
| Accrued expenses | 172 | 200 |
| Income taxes payable | 32 | 47 |
| Payable to Caterpillar borrowings (Note 14) | 1,637 | 1,096 |
| Short-term borrowings (Note 8) | 7,094 | 6,958 |
| Current maturities of long-term debt (Note 9) | 6,155 | 5,360 |
| Long-term debt (Note 9) | 14,382 | 16,209 |
| Deferred income taxes and other liabilities (Note 12) | 969 | 823 |
| Total liabilities | 30,630 | 30,892 |
| 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 | 3,108 | 2,999 |
| Accumulated other comprehensive income/(loss) | (995) | (897) |
| Noncontrolling interests | 125 | 126 |
| Total stockholder's equity | 2,985 | 2,975 |
| Total liabilities and stockholder's equity | 33,615 | 33,867 |
| External Links | |
| CATERPILLAR FINANCIAL SERVICES CORP (CAT) Fiscal Year 2016 | |
| 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 |