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: 2020 | |||
Consolidated Results of Operations | |||
Period Ending Dec 31, 2020 10-K (Filed: Feb 17, 2021) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
| Sales and revenues: | |||
| Sales and revenues | $ 41,748 | 53,800 | 54,722 |
| Operating costs: | |||
| Cost of goods sold | 29,082 | 36,630 | 36,997 |
| Selling, general and administrative expenses | 4,642 | 5,162 | 5,478 |
| Research and development expenses | 1,415 | 1,693 | 1,850 |
| Other operating (income) expenses | 1,467 | 1,271 | 1,382 |
| Total operating costs | 37,195 | 45,510 | 46,429 |
| Operating profit | 4,553 | 8,290 | 8,293 |
| Other income (expense) | (44) | (57) | (67) |
| Consolidated profit before taxes | 3,995 | 7,812 | 7,822 |
| Provision (benefit) for income taxes | 1,006 | 1,746 | 1,698 |
| Profit (loss) of consolidated companies | 2,989 | 6,066 | 6,124 |
| Equity in profit (loss) of unconsolidated affiliated companies | 14 | 28 | 24 |
| Profit (loss) of consolidated and affiliated companies | 3,003 | 6,094 | 6,148 |
| Less: comprehensive income attributable to the noncontrolling interests | 5 | 1 | 1 |
| Profit (loss) | 2,998 | 6,093 | 6,147 [1] |
| Profit (loss) per common share (in dollars per share) | 5.51 | 10.85 | 10.39 |
| Profit (loss) per common share - diluted (in dollars per share) | 5.46 | 10.74 [2] | 10.26 |
| Weighted-average common shares outstanding (millions) | |||
| Basic (in shares) | 544,100 | 561,600 | 591,400 |
| Diluted (in shares) | 548,600 | 567,500 | 599,400 |
| Product and Service | |||
| Machinery, Energy & Transportation | |||
| Sales and revenues | 39,022 | 50,755 | 51,822 |
| Financial Products | |||
| Sales and revenues | 2,726 | 3,045 | 2,900 |
| Interest Expense | 589 | 754 | 722 |
| All other excluding Financial Products | |||
| Interest Expense | 514 | 421 | 404 |
| [1] Profit attributable to common shareholders. | |||
| [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: 2020 | |||
Consolidated Comprehensive Income | |||
Period Ending Dec 31, 2020 10-K (Filed: Feb 17, 2021) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
| Profit (loss) of consolidated and affiliated companies | $ 3,003 | 6,094 | 6,148 |
| Foreign currency translation | 577 | 16 | (396) |
| Pension and other post retirement benefits | (29) | (34) | (34) |
| Derivative financial instruments | 97 | (8) | (39) |
| Available-for-sale securities | 34 | 35 | (12) |
| Total other comprehensive income (loss), net of tax | 679 | 9 | (481) |
| Comprehensive income (loss) | 3,682 | 6,103 | 5,667 |
| Less: comprehensive income attributable to the noncontrolling interests | 5 | 1 | 1 |
| Comprehensive income (loss) attributable to shareholders | 3,677 | 6,102 | 5,666 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
CATERPILLAR FINANCIAL SERVICES CORP | |||
Ticker: CAT Fiscal Year: 2020 | |||
Consolidated Statement of Cash Flow | |||
Period Ending Dec 31, 2020 10-K (Filed: Feb 17, 2021) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
| Cash flow from operating activities: | |||
| Profit (loss) of consolidated and affiliated companies | $ 3,003 | 6,094 | 6,148 |
| Adjustments for non-cash items: | |||
| Depreciation and amortization | 2,432 | 2,577 | 2,766 |
| Actuarial (gain) loss on pension and postretirement benefits | 383 | 468 | 495 |
| Provision (benefit) for deferred income taxes | (74) | 28 | 220 |
| Other | 1,000 | 675 | 1,006 |
| Changes in assets and liabilities, net of acquisitions and divestitures: | |||
| Receivables - trade and other | 1,442 | 171 | (1,619) |
| Inventories | (34) | 274 | (1,579) |
| Accounts payable | 98 | (1,025) | 709 |
| Accrued expenses | (366) | 172 | 101 |
| Accrued wages, salaries and employee benefits | (544) | (757) | (162) |
| Customer advances | (126) | (10) | (183) |
| Other assets - net | (201) | (93) | 41 |
| Other liabilities - net | (686) | (1,662) | (1,385) |
| Net Cash Provided by (Used in) Operating Activities | 6,327 | 6,912 | 6,558 |
| Cash flow from investing activities: | |||
| Capital expenditures - excluding equipment leased to others | (978) | (1,056) | (1,276) |
| Expenditures for equipment leased to others | (1,137) | (1,613) | (1,640) |
| Proceeds from disposals of leased assets and property, plant and equipment | 772 | 1,153 | 936 |
| Additions to finance receivables | (12,385) | (12,777) | (12,183) |
| Collections of finance receivables | 12,646 | 12,183 | 10,901 |
| Proceeds from sale of finance receivables | 42 | 235 | 477 |
| Investments and acquisitions (net of cash acquired) | (111) | (47) | (392) |
| Proceeds from sale of businesses and investments (net of cash sold) | 25 | 41 | 16 |
| Proceeds from sale of securities | 345 | 529 | 442 |
| Investments in securities | (638) | (552) | (506) |
| Other - net | (66) | (24) | 13 |
| Net Cash Provided by (Used in) Investing Activities | (1,485) | (1,928) | (3,212) |
| Cash flow from financing activities: | |||
| Dividends paid | (2,243) | (2,132) | (1,951) |
| Common stock issued, including treasury shares reissued | 229 | 238 | 313 |
| Common shares repurchased | (1,130) | (4,047) | (3,798) |
| Proceeds from debt issued (original maturities greater than three months): | |||
| Machinery, Energy & Transportation | 1,991 | 1,479 | 57 |
| Financial Products | 8,440 | 8,362 | 8,850 |
| Payments on debt (original maturities greater than three months): | |||
| Machinery, Energy & Transportation | (26) | (12) | (7) |
| Financial Products | (8,211) | (8,285) | (7,822) |
| Short-term borrowings - net (original maturities three months or less) | (2,804) | (138) | 762 |
| Other - net | (1) | (3) | (54) |
| Net Cash Provided by (Used in) Financing Activities | (3,755) | (4,538) | (3,650) |
| Cash and short- term investments and restricted cash at beginning of period | 8,292 | 7,890 | |
| Cash and short- term investments and restricted cash at end of period | 9,366 | 8,292 | 7,890 |
| Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | (13) | (44) | (126) |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect, Total | 1,074 | 402 | (430) |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
CATERPILLAR FINANCIAL SERVICES CORP | ||
Ticker: CAT Fiscal Year: 2020 | ||
Consolidated Financial Position | ||
Period Ending Dec 31, 2020 10-K (Filed: Feb 17, 2021) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2020 | Dec 31, 2019 | |
| Assets | ||
| Current assets: | ||
| Cash and short-term investments | $ 9,352 | 8,284 |
| Receivables - trade and other | 7,317 | 8,568 |
| Receivables - finance | 9,463 | 9,336 |
| Prepaid Expense and Other Assets, Current | 1,930 | 1,739 |
| Inventories | 11,402 | 11,266 |
| Total current assets | 39,464 | 39,193 |
| Property, Plant and Equipment, Net | 12,401 | 12,904 |
| Long-term receivables - trade and other | 1,185 | 1,193 |
| Long-term receivables - finance | 12,222 | 12,651 |
| Noncurrent deferred and refundable income taxes | 1,523 | 1,411 |
| Intangible assets | 1,308 | 1,565 |
| Goodwill | 6,394 | 6,196 |
| Other assets | 3,827 | 3,340 |
| Total assets | 78,324 | 78,453 |
| Liabilities | ||
| Current liabilities: | ||
| Short-term borrowings | 2,015 | 5,166 |
| Accounts payable | 6,128 | 5,957 |
| Accrued expenses | 3,642 | 3,750 |
| Accrued wages, salaries and employee benefits | 1,096 | 1,629 |
| Customer advances | 1,108 | 1,187 |
| Dividends payable | 562 | 567 |
| Other current liabilities | 2,017 | 2,155 |
| Long-term debt due within one year: | ||
| Total current liabilities | 25,717 | 26,621 |
| Long-term debt due after one year: | ||
| Liability for postemployment benefits | 6,872 | 6,599 |
| Other liabilities | 4,358 | 4,323 |
| SPC liabilities in consolidated statement | 62,946 | 63,824 |
| Shareholders' equity | ||
| Authorized shares: 2,000,000,000 Issued shares: (2020 and 2019 814,894,624 shares) at paid-in amount | 6,230 | 5,935 |
| Treasury Stock, Value | (25,178) | (24,217) |
| Profit employed in the business | 35,167 | 34,437 |
| Accumulated other comprehensive income (loss) | (888) | (1,567) |
| Noncontrolling interests | 47 | 41 |
| Total stockholders' equity | 15,378 | 14,629 |
| Total liabilities and stockholders' equity | 78,324 | 78,453 |
| Common Stock, par value (in dollars per share) | 1.00 | |
| Common Stock, Authorized shares | 2,000,000,000 | 2,000,000,000 |
| Common Stock, Issued shares | 814,894,624 | 814,894,624 |
| Treasury Stock, shares | 269,590,777 | 264,812,014 |
| Product and Service | ||
| Machinery, Energy & Transportation | ||
| Short-term borrowings | 10 | 5 |
| Long-term Debt and Lease Obligation, Current | 1,420 | 16 |
| Long-term Debt and Lease Obligation | 9,749 | 9,141 |
| Financial Products | ||
| Short-term borrowings | 2,005 | 5,161 |
| Long-term Debt and Lease Obligation, Current | 7,729 | 6,194 |
| Long-term Debt and Lease Obligation | 16,250 | 17,140 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
CATERPILLAR FINANCIAL SERVICES CORP | |||
Ticker: CAT Fiscal Year: 2020 | |||
Consolidated Statements of Profit | |||
Period Ending Dec 31, 2020 10-K (Filed: Feb 17, 2021) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
| Revenues: | |||
| Retail finance | $ 1,249 | 1,369 | 1,308 |
| Operating lease | 965 | 1,037 | 1,011 |
| Wholesale finance | 336 | 491 | 415 |
| Other, net | 0 | 69 | 113 |
| Total revenues | 2,550 | 2,966 | 2,847 |
| Expenses: | |||
| Interest | 591 | 787 | 757 |
| Depreciation on equipment leased to others | 758 | 813 | 819 |
| General, operating and administrative | 433 | 516 | 423 |
| Provision for credit losses | 266 | 162 | 354 |
| Other | 43 | 36 | 38 |
| Total expenses | 2,091 | 2,314 | 2,391 |
| Other income (expense) | (25) | (24) | (23) |
| Profit before income taxes | 434 | 628 | 433 |
| Provision for income taxes | 126 | 196 | 108 |
| Profit of consolidated companies | 308 | 432 | 325 |
| Less: Profit attributable to noncontrolling interests | 15 | 22 | 20 |
| Profit | 293 | 410 [1] | 305 |
| [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: 2020 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 31, 2020 10-K (Filed: Feb 17, 2021) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
| Profit of consolidated companies | $ 308 | 432 | 325 |
| Other comprehensive income (loss), net of tax (Note 10): | |||
| Foreign currency translation | 236 | 11 | (309) |
| Derivative financial instruments | 24 | (31) | (31) |
| Total Other comprehensive income (loss), net of tax | 260 | (20) | (340) |
| Comprehensive income (loss) | 568 | 412 | (15) |
| Less: Comprehensive income (loss) attributable to the noncontrolling interests | 25 | 19 | 13 |
| Comprehensive income (loss) attributable to Caterpillar Financial Services Corporation | 543 | 393 | (28) |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
CATERPILLAR FINANCIAL SERVICES CORP | ||
Ticker: CAT Fiscal Year: 2020 | ||
Consolidated Statements of Financial Position | ||
Period Ending Dec 31, 2020 10-K (Filed: Feb 17, 2021) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2020 | Dec 31, 2019 | |
| Assets: | ||
| Cash and cash equivalents | $ 411 | 690 |
| Finance receivables, net of Allowance for credit losses | 26,575 | 27,832 |
| Notes receivable from Caterpillar | 356 | 296 |
| Equipment on operating leases, net | 3,366 | 3,583 |
| Other assets | 1,283 | 1,292 |
| Total assets | 31,991 | 33,693 |
| Liabilities and shareholder's equity: | ||
| Payable to dealers and others | 144 | 135 |
| Payable to Caterpillar - borrowings and other | 1,087 | 693 |
| Accrued expenses | 400 | 241 |
| Short-term borrowings | 2,005 | 5,161 |
| Current maturities of long-term debt | 7,729 | 6,194 |
| Long-term debt | 16,250 | 17,140 |
| Other liabilities | 885 | 893 |
| Total liabilities | 28,500 | 30,457 |
| 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 | 3,142 | 3,162 |
| Accumulated other comprehensive income (loss) | (595) | (845) |
| Noncontrolling interests | 197 | 172 |
| Total shareholder's equity | 3,491 | 3,236 |
| Total liabilities and shareholder's equity | 31,991 | 33,693 |
| External Links | |
| CATERPILLAR FINANCIAL SERVICES CORP (CAT) Fiscal Year 2020 | |
| 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 |