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: 2019 | |||
Consolidated Results of Operations | |||
Period Ending Dec 31, 2019 10-K (Filed: Feb 19, 2020) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
| Sales and revenues: | |||
| Sales and revenues | $ 53,800 | 54,722 | 45,462 |
| Cost of goods sold | 36,630 | 36,997 | 31,260 |
| Operating costs: | |||
| Selling, general and administrative expenses | 5,162 | 5,478 | 4,999 |
| Research and development expenses | 1,693 | 1,850 | 1,842 |
| Interest expense of Financial Products | 754 | 722 | 646 |
| Goodwill impairment charge | 0 | 0 | 0 |
| Other operating (income) expenses | 1,271 | 1,382 | 2,255 |
| Total operating costs | 45,510 | 46,429 | 41,002 |
| Operating profit | 8,290 | 8,293 | 4,460 |
| Interest Expense Excluding Financial Products | 421 | 404 | 531 |
| Other income (expense) | (57) | (67) | 153 |
| Consolidated profit before taxes | 7,812 | 7,822 | 4,082 |
| Provision (benefit) for income taxes | 1,746 | 1,698 | 3,339 |
| Profit (loss) of consolidated companies | 6,066 | 6,124 | 743 |
| Equity in profit (loss) of unconsolidated affiliated companies | 28 | 24 | 16 |
| Profit (loss) of consolidated and affiliated companies | 6,094 | 6,148 | 759 |
| Less: Profit (loss) attributable to noncontrolling interests | 1 | 1 | 5 |
| Profit (loss) | 6,093 | 6,147 | 754 |
| Profit (loss) per common share (in dollars per share) | 10.85 | 10.39 | 1.27 |
| Profit (loss) per common share - diluted (in dollars per share) | 10.74 | 10.26 | 1.26 |
| Weighted-average common shares outstanding (millions) | |||
| Basic (in shares) | 561,600 | 591,400 | 591,800 |
| Diluted (in shares) | 567,500 | 599,400 | 599,300 |
| Product and Service | |||
| Machinery, Energy & Transportation | |||
| Sales and revenues | 50,755 | 51,822 | 42,676 |
| Financial Products | |||
| Sales and revenues | 3,045 | 2,900 | 2,786 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
CATERPILLAR FINANCIAL SERVICES CORP | |||
Ticker: CAT Fiscal Year: 2019 | |||
Consolidated Comprehensive Income | |||
Period Ending Dec 31, 2019 10-K (Filed: Feb 19, 2020) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
| Profit (loss) of consolidated and affiliated companies | $ 6,094 | 6,148 | 759 |
| Other comprehensive income (loss), Net of Tax: | |||
| Foreign currency translation, net of tax (provision)/benefit of: 2019 - $(5); 2018 - $(24); 2017 - $96 | 16 | (396) | 765 |
| Pension and other postretirement benefits: | |||
| Current year prior service credit (cost), net of tax (provision)/benefit of: 2019 - $0; 2018 - $(6); 2017 - $(26) | (4) | (6) | 48 |
| Amortization of prior service (credit) cost, net of tax (provision)/benefit of: 2019 -$10; 2018 - $8; 2017 - $9 | (30) | (28) | (16) |
| Derivative financial instruments: | |||
| Gains (losses) deferred, net of tax (provision)/benefit of: 2019 -$(14); 2018 - $(19); 2017 - $2 | 43 | 61 | (3) |
| (Gains) losses reclassified to earnings, net of tax (provision)/benefit of: 2019 -$15; 2018 - $31; 2017 - $(44) | 51 | 100 | (77) |
| Available-for-sale securities: | |||
| Gains (losses) deferred, net of tax (provision)/benefit of: 2019 -$(10); 2018 - $3; 2017 - $(23) | 35 | (12) | 41 |
| (Gains) losses reclassified to earnings, net of tax (provision)/benefit of: 2019 -$0; 2018 - $0; 2017 - $35 | 0 | 0 | (65) |
| Total other comprehensive income (loss), net of tax | 9 | (481) | 847 |
| Comprehensive income (loss) | 6,103 | 5,667 | 1,606 |
| Less: comprehensive income attributable to the noncontrolling interests | 1 | 1 | 5 |
| Comprehensive income (loss) attributable to shareholders | 6,102 | 5,666 | 1,601 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
CATERPILLAR FINANCIAL SERVICES CORP | |||
Ticker: CAT Fiscal Year: 2019 | |||
Consolidated Statement of Cash Flow | |||
Period Ending Dec 31, 2019 10-K (Filed: Feb 19, 2020) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
| Cash flow from operating activities: | |||
| Profit (loss) of consolidated and affiliated companies | $ 6,094 | 6,148 | 759 |
| Adjustments for non-cash items: | |||
| Depreciation and amortization | 2,577 | 2,766 | 2,877 |
| Actuarial (gain) loss on pension and postretirement benefits | 468 | 495 | 301 |
| Provision (benefit) for deferred income taxes | 28 | 220 | 1,213 |
| Other | 675 | 1,006 | 750 |
| Changes in assets and liabilities, net of acquisitions and divestitures: | |||
| Receivables - trade and other | 171 | (1,619) | (1,151) |
| Inventories | 274 | (1,579) | (1,295) |
| Accounts payable | (1,025) | 709 | 1,478 |
| Accrued expenses | 172 | 101 | 175 |
| Accrued wages, salaries and employee benefits | (757) | (162) | 1,187 |
| Customer advances | (10) | (183) | (8) |
| Other assets - net | (93) | 41 | (192) |
| Other liabilities - net | (1,662) | (1,385) | (388) |
| Net Cash Provided by (Used in) Operating Activities | 6,912 | 6,558 | 5,706 |
| Cash flow from investing activities: | |||
| Capital expenditures - excluding equipment leased to others | (1,056) | (1,276) | (898) |
| Expenditures for equipment leased to others | (1,613) | (1,640) | (1,438) |
| Proceeds from disposals of leased assets and property, plant and equipment | 1,153 | 936 | 1,164 |
| Additions to finance receivables | (12,777) | (12,183) | (11,953) |
| Collections of finance receivables | 12,183 | 10,901 | 12,018 |
| Proceeds from sale of finance receivables | 235 | 477 | 127 |
| Investments and acquisitions (net of cash acquired) | (47) | (392) | (59) |
| Proceeds from sale of businesses and investments (net of cash sold) | 41 | 16 | 100 |
| Proceeds from sale of securities | 529 | 442 | 932 |
| Investments in securities | (552) | (506) | (1,048) |
| Other - net | (24) | 13 | 89 |
| Net Cash Provided by (Used in) Investing Activities | (1,928) | (3,212) | (966) |
| Cash flow from financing activities: | |||
| Dividends paid | (2,132) | (1,951) | (1,831) |
| Common stock issued, including treasury shares reissued | 238 | 313 | 566 |
| Common shares repurchased | (4,047) | (3,798) | 0 |
| Proceeds from debt issued (original maturities greater than three months): | |||
| Machinery, Energy & Transportation | 1,479 | 57 | 361 |
| Financial Products | 8,362 | 8,850 | 8,702 |
| Payments on debt (original maturities greater than three months): | |||
| Machinery, Energy & Transportation | (12) | (7) | (1,465) |
| Financial Products | (8,285) | (7,822) | (6,923) |
| Short-term borrowings - net (original maturities three months or less) | (138) | 762 | (3,058) |
| Other - net | (3) | (54) | (9) |
| Net Cash Provided by (Used in) Financing Activities | (4,538) | (3,650) | (3,657) |
| Effect of exchange rate changes on cash | (44) | (126) | 38 |
| Increase (decrease) in cash and short-term investments and restricted cash | 402 | (430) | 1,121 |
| Cash and short- term investments and restricted cash at beginning of period | 7,890 | 8,320 | |
| Cash and short- term investments and restricted cash at end of period | 8,292 | 7,890 | 8,320 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
CATERPILLAR FINANCIAL SERVICES CORP | ||
Ticker: CAT Fiscal Year: 2019 | ||
Consolidated Financial Position | ||
Period Ending Dec 31, 2019 10-K (Filed: Feb 19, 2020) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2019 | Dec 31, 2018 | |
| Assets | ||
| Current assets: | ||
| Cash and short-term investments | $ 8,284 | 7,857 |
| Receivables - trade and other | 8,568 | 8,802 |
| Receivables - finance | 9,336 | 8,650 |
| Prepaid Expense and Other Assets, Current | 1,739 | 1,765 |
| Inventories | 11,266 | 11,529 |
| Total current assets | 39,193 | 38,603 |
| Property, Plant and Equipment, Net | 12,904 | 13,574 |
| Long-term receivables - trade and other | 1,193 | 1,161 |
| Long-term receivables - finance | 12,651 | 13,286 |
| Noncurrent deferred and refundable income taxes | 1,411 | 1,439 |
| Intangible assets | 1,565 | 1,897 |
| Goodwill | 6,196 | 6,217 |
| Other assets | 3,340 | 2,332 |
| Total assets | 78,453 | 78,509 |
| Liabilities | ||
| Current liabilities: | ||
| Short-term borrowings: | ||
| Machinery, Energy & Transportation | 5 | 0 |
| Financial Products | 5,161 | 5,723 |
| Accounts payable | 5,957 | 7,051 |
| Accrued expenses | 3,750 | 3,573 |
| Accrued wages, salaries and employee benefits | 1,629 | 2,384 |
| Customer advances | 1,187 | 1,243 |
| Dividends payable | 567 | 495 |
| Other current liabilities | 2,155 | 1,919 |
| Long-term debt due within one year: | ||
| Machinery, Energy & Transportation | 16 | 10 |
| Financial Products | 6,194 | 5,820 |
| Total current liabilities | 26,621 | 28,218 |
| Long-term debt due after one year: | ||
| Machinery, Energy & Transportation | 9,141 | 8,005 |
| Financial Products | 17,140 | 16,995 |
| Liability for postemployment benefits | 6,599 | 7,455 |
| Other liabilities | 4,323 | 3,756 |
| Total liabilities | 63,824 | 64,429 |
| Shareholders' equity | ||
| Common stock of $1.00 par value: Authorized shares: 2,000,000,000 Issued shares: (2019 and 2018 814,894,624 shares) at paid-in amount | 5,935 | 5,827 |
| Treasury stock: (2019 - 264,812,014 shares; and 2018 239,351,886 shares) at cost | (24,217) | (20,531) |
| Profit employed in the business | 34,437 | 30,427 |
| Accumulated other comprehensive income (loss) | (1,567) | (1,684) |
| Noncontrolling interests | 41 | 41 |
| Total stockholders' equity | 14,629 | 14,080 |
| Total liabilities and stockholders' equity | 78,453 | 78,509 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
CATERPILLAR FINANCIAL SERVICES CORP | |||
Ticker: CAT Fiscal Year: 2019 | |||
Consolidated Statements of Profit | |||
Period Ending Dec 31, 2019 10-K (Filed: Feb 19, 2020) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
| Revenues: | |||
| Retail finance | $ 1,369 | 1,308 | 1,235 |
| Operating lease | 1,037 | 1,011 | 985 |
| Wholesale finance | 491 | 415 | 307 |
| Other, net | 69 | 113 | 162 |
| Total revenues | 2,966 | 2,847 | 2,689 |
| Expenses: | |||
| Interest | 787 | 757 | 667 |
| Depreciation on equipment leased to others | 813 | 819 | 810 |
| General, operating and administrative | 516 | 423 | 429 |
| Provision for credit losses | 162 | 354 | 132 |
| Other | 36 | 38 | 46 |
| Total expenses | 2,314 | 2,391 | 2,084 |
| Other income (expense) | (24) | (23) | (15) |
| Profit before income taxes | 628 | 433 | 590 |
| Provision (benefit) for income taxes | 196 | 108 | (4) |
| Profit of consolidated companies | 432 | 325 | 594 |
| Less: Profit attributable to noncontrolling interests | 22 | 20 | 8 |
| Profit | 410 | 305 [1] | 586 |
| [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: 2019 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 31, 2019 10-K (Filed: Feb 19, 2020) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
| Profit of consolidated companies | $ 432 | 325 | 594 |
| Other comprehensive income (loss), net of tax: | |||
| Foreign currency translation, net of tax (expense)/benefit | 11 | (309) | 414 |
| Derivative financial instruments: | |||
| Gains (losses) deferred, net of tax (expense)/benefit | 17 | 98 | (49) |
| (Gains) losses reclassified to earnings, net of tax expense/(benefit) | (48) | (129) | 45 |
| Total Other comprehensive income (loss), net of tax | (20) | (340) | 410 |
| Comprehensive income (loss) | 412 | (15) | 1,004 |
| Less: Comprehensive income (loss) attributable to the noncontrolling interests | 19 | 13 | 15 |
| Comprehensive income (loss) attributable to Caterpillar Financial Services Corporation | 393 | (28) | 989 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
CATERPILLAR FINANCIAL SERVICES CORP | ||
Ticker: CAT Fiscal Year: 2019 | ||
Consolidated Statements of Financial Position | ||
Period Ending Dec 31, 2019 10-K (Filed: Feb 19, 2020) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2019 | Dec 31, 2018 | |
| Assets: | ||
| Cash and cash equivalents | $ 690 | 766 |
| Finance receivables, net | 27,832 | 27,923 |
| Notes receivable from Caterpillar | 296 | 662 |
| Equipment on operating leases, net | 3,583 | 3,562 |
| Other assets | 1,292 | 1,268 |
| Total assets | 33,693 | 34,181 |
| Liabilities and shareholder's equity: | ||
| Payable to dealers and others | 135 | 117 |
| Payable to Caterpillar - borrowings and other | 693 | 1,601 |
| Accrued expenses | 241 | 259 |
| Short-term borrowings | 5,161 | 5,723 |
| Current maturities of long-term debt | 6,194 | 5,820 |
| Long-term debt | 17,140 | 16,995 |
| Other liabilities | 893 | 817 |
| Total liabilities | 30,457 | 31,332 |
| 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 | 3,162 | 2,874 |
| Accumulated other comprehensive income/(loss) | (845) | (925) |
| Noncontrolling interests | 172 | 153 |
| Total shareholder's equity | 3,236 | 2,849 |
| Total liabilities and shareholder's equity | 33,693 | 34,181 |
| External Links | |
| CATERPILLAR FINANCIAL SERVICES CORP (CAT) Fiscal Year 2019 | |
| 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 |