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: 2021 | |||
Consolidated Results of Operations | |||
Period Ending Dec 31, 2021 10-K (Filed: Feb 16, 2022) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
| Sales and revenues: | |||
| Sales and revenues | $ 50,971 | 41,748 | 53,800 |
| Operating costs: | |||
| Cost of goods sold | 35,513 | 29,082 | 36,630 |
| Selling, general and administrative expenses | 5,365 | 4,642 | 5,162 |
| Research and development expenses | 1,686 | 1,415 | 1,693 |
| Other operating (income) expenses | 1,074 | 1,467 | 1,271 |
| Total operating costs | 44,093 | 37,195 | 45,510 |
| Operating profit | 6,878 | 4,553 | 8,290 |
| Other income (expense) | 1,814 | (44) | (57) |
| Consolidated profit before tax | 8,204 | 3,995 | 7,812 |
| Provision (benefit) for income taxes | 1,742 | 1,006 | 1,746 |
| Profit (loss) of consolidated companies | 6,462 | 2,989 | 6,066 |
| Equity in profit (loss) of unconsolidated affiliated companies | 31 | 14 | 28 |
| Profit (loss) of consolidated and affiliated companies | 6,493 | 3,003 | 6,094 |
| Less: comprehensive income attributable to the noncontrolling interests | 4 | 5 | 1 |
| Profit (loss) | 6,489 [1] | 2,998 | 6,093 |
| Profit (loss) per common share (in dollars per share) | 11.93 | 5.51 | 10.85 |
| Profit (loss) per common share - diluted (in dollars per share) | 11.83 | 5.46 | 10.74 |
| Weighted-average common shares outstanding (millions) | |||
| Basic (in shares) | 544,000 | 544,100 | 561,600 |
| Diluted (in shares) | 548,500 | 548,600 | 567,500 |
| Product and Service | |||
| Machinery, Energy & Transportation | |||
| Sales and revenues | 48,188 | 39,022 | 50,755 |
| Financial Products | |||
| Sales and revenues | 2,783 | 2,726 | 3,045 |
| Interest Expense of Financial Products | 455 | 589 | 754 |
| All other excluding Financial Products | |||
| Interest Expense excluding Financial Products | 488 | 514 | 421 |
| [1] Profit attributable to common shareholders. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
CATERPILLAR FINANCIAL SERVICES CORP | |||
Ticker: CAT Fiscal Year: 2021 | |||
Consolidated Comprehensive Income | |||
Period Ending Dec 31, 2021 10-K (Filed: Feb 16, 2022) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
| Profit (loss) of consolidated and affiliated companies | $ 6,493 | 3,003 | 6,094 |
| Foreign currency translation | (598) | 577 | 16 |
| Pension and other post retirement benefits | (30) | (29) | (34) |
| Derivative financial instruments | (3) | 97 | (8) |
| Available-for-sale securities | (34) | 34 | 35 |
| Total other comprehensive income (loss), net of tax | (665) | 679 | 9 |
| Comprehensive income (loss) | 5,828 | 3,682 | 6,103 |
| Less: comprehensive income attributable to the noncontrolling interests | 4 | 5 | 1 |
| Comprehensive income (loss) attributable to shareholders | 5,824 | 3,677 | 6,102 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
CATERPILLAR FINANCIAL SERVICES CORP | |||
Ticker: CAT Fiscal Year: 2021 | |||
Consolidated Statement of Cash Flow | |||
Period Ending Dec 31, 2021 10-K (Filed: Feb 16, 2022) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
| Cash flow from operating activities: | |||
| Profit (loss) of consolidated and affiliated companies | $ 6,493 | 3,003 | 6,094 |
| Adjustments for non-cash items: | |||
| Depreciation and amortization | 2,352 | 2,432 | 2,577 |
| Actuarial (gain) loss on pension and postretirement benefits | (833) | 383 | 468 |
| Provision (benefit) for deferred income taxes | (383) | (74) | 28 |
| Other | 216 | 1,000 | 675 |
| Changes in assets and liabilities, net of acquisitions and divestitures: | |||
| Receivables - trade and other | (1,259) | 1,442 | 171 |
| Inventories | (2,586) | (34) | 274 |
| Accounts payable | 2,041 | 98 | (1,025) |
| Accrued expenses | 196 | (366) | 172 |
| Accrued wages, salaries and employee benefits | 1,107 | (544) | (757) |
| Customer advances | 34 | (126) | (10) |
| Other assets - net | (97) | (201) | (93) |
| Other liabilities - net | (83) | (686) | (1,662) |
| Net Cash Provided by (Used in) Operating Activities | 7,198 | 6,327 | 6,912 |
| Cash flow from investing activities: | |||
| Capital expenditures - excluding equipment leased to others | (1,093) | (978) | (1,056) |
| Expenditures for equipment leased to others | (1,379) | (1,137) | (1,613) |
| Proceeds from disposals of leased assets and property, plant and equipment | 1,265 | 772 | 1,153 |
| Additions to finance receivables | (13,002) | (12,385) | (12,777) |
| Collections of finance receivables | 12,430 | 12,646 | 12,183 |
| Proceeds from sale of finance receivables | 51 | 42 | 235 |
| Investments and acquisitions (net of cash acquired) | (490) | (111) | (47) |
| Proceeds from sale of businesses and investments (net of cash sold) | 36 | 25 | 41 |
| Proceeds from sale of securities | 785 | 345 | 529 |
| Investments in securities | (1,766) | (638) | (552) |
| Other - net | 79 | (66) | (24) |
| Net Cash Provided by (Used in) Investing Activities | (3,084) | (1,485) | (1,928) |
| Cash flow from financing activities: | |||
| Dividends paid | (2,332) | (2,243) | (2,132) |
| Common stock issued, including treasury shares reissued | 135 | 229 | 238 |
| Common shares repurchased | (2,668) | (1,130) | (4,047) |
| Short-term borrowings - net (original maturities three months or less) | 3,488 | (2,804) | (138) |
| Other - net | (4) | (1) | (3) |
| Net Cash Provided by (Used in) Financing Activities | (4,188) | (3,755) | (4,538) |
| Effect of exchange rate changes on cash | (29) | (13) | (44) |
| Increase (decrease) in cash, cash equivalents and restricted cash | (103) | 1,074 | 402 |
| Cash, cash equivalents and restricted cash at beginning of period | 9,366 | 8,292 | |
| Cash, cash equivalents and restricted cash at end of period | 9,263 | 9,366 | 8,292 |
| Product and Service | |||
| Machinery, Energy & Transportation | |||
| Proceeds from Debt, Maturing in More than Three Months | 494 | 1,991 | 1,479 |
| Repayments of Debt, Maturing in More than Three Months | (1,919) | (26) | (12) |
| Financial Products | |||
| Proceeds from Debt, Maturing in More than Three Months | 6,495 | 8,440 | 8,362 |
| Repayments of Debt, Maturing in More than Three Months | (7,877) | (8,211) | (8,285) |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
CATERPILLAR FINANCIAL SERVICES CORP | ||
Ticker: CAT Fiscal Year: 2021 | ||
Consolidated Financial Position | ||
Period Ending Dec 31, 2021 10-K (Filed: Feb 16, 2022) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2021 | Dec 31, 2020 | |
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $ 9,254 | 9,352 |
| Receivables - trade and other | 8,477 | 7,317 |
| Receivables - finance | 8,898 | 9,463 |
| Prepaid Expense and Other Assets, Current | 2,788 | 1,930 |
| Inventories | 14,038 | 11,402 |
| Total current assets | 43,455 | 39,464 |
| Property, Plant and Equipment, Net | 12,090 | 12,401 |
| Long-term receivables - trade and other | 1,204 | 1,185 |
| Long-term receivables - finance | 12,707 | 12,222 |
| Noncurrent deferred and refundable income taxes | 1,840 | 1,523 |
| Intangible assets | 1,042 | 1,308 |
| Goodwill | 6,324 | 6,394 |
| Other assets | 4,131 | 3,827 |
| Segment assets | 82,793 | 78,324 |
| Liabilities | ||
| Current liabilities: | ||
| Short-term borrowings: | ||
| Short-term borrowings | 5,404 | 2,015 |
| Accounts payable | 8,154 | 6,128 |
| Accrued expenses | 3,757 | 3,642 |
| Accrued wages, salaries and employee benefits | 2,242 | 1,096 |
| Customer advances | 1,087 | 1,108 |
| Dividends payable | 595 | 562 |
| Other current liabilities | 2,256 | 2,017 |
| Long-term debt due within one year: | ||
| Total current liabilities | 29,847 | 25,717 |
| Long-term debt due after one year: | ||
| Liability for postemployment benefits | 5,592 | 6,872 |
| Other liabilities | 4,805 | 4,358 |
| SPC liabilities in consolidated statement | 66,277 | 62,946 |
| Shareholders' equity | ||
| Authorized shares: 2,000,000,000 Issued shares: (2021 and 2020 814,894,624 shares) at paid-in amount | 6,398 | 6,230 |
| Treasury stock: (2021 - 279,006,573 shares; and 2020 - 269,590,777 shares) at cost | (27,643) | (25,178) |
| Profit employed in the business | 39,282 | 35,167 |
| Accumulated other comprehensive income (loss) | (1,553) | (888) |
| Noncontrolling interests | 32 | 47 |
| Total stockholders' equity | 16,516 | 15,378 |
| Total liabilities and stockholders' equity | 82,793 | 78,324 |
| 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 | 279,006,573 | 269,590,777 |
| Product and Service | ||
| Machinery, Energy & Transportation | ||
| Short-term borrowings | 9 | 10 |
| Long-term Debt and Lease Obligation, Current | 45 | 1,420 |
| Long-term Debt and Lease Obligation | 9,746 | 9,749 |
| Financial Products | ||
| Short-term borrowings | 5,395 | 2,005 |
| Long-term Debt and Lease Obligation, Current | 6,307 | 7,729 |
| Long-term Debt and Lease Obligation | 16,287 | 16,250 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
CATERPILLAR FINANCIAL SERVICES CORP | |||
Ticker: CAT Fiscal Year: 2021 | |||
Consolidated Statements of Profit | |||
Period Ending Dec 31, 2021 10-K (Filed: Feb 16, 2022) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
| Revenues: | |||
| Retail finance | $ 1,197 | 1,249 | 1,369 |
| Operating lease | 942 | 965 | 1,037 |
| Wholesale finance | 314 | 336 | 491 |
| Other, net | 109 | 0 | 69 |
| Total revenues | 2,562 | 2,550 | 2,966 |
| Expenses: | |||
| Interest | 455 | 591 | 787 |
| Depreciation on equipment leased to others | 755 | 758 | 813 |
| General, operating and administrative | 528 | 433 | 516 |
| Provision for credit losses | 70 | 266 | 162 |
| Other | 36 | 43 | 36 |
| Total expenses | 1,844 | 2,091 | 2,314 |
| Other income (expense) | (23) | (25) | (24) |
| Profit before income taxes | 695 | 434 | 628 |
| Provision for income taxes | 178 | 126 | 196 |
| Profit of consolidated companies | 517 | 308 | 432 |
| Less: Profit attributable to noncontrolling interests | 12 | 15 | 22 |
| Profit | 505 | 293 | 410 [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: 2021 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 31, 2021 10-K (Filed: Feb 16, 2022) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
| Profit of consolidated companies | $ 517 | 308 | 432 |
| Other comprehensive income (loss), net of tax (Note 10): | |||
| Foreign currency translation | (209) | 236 | 11 |
| Derivative financial instruments | 32 | 24 | (31) |
| Total Other comprehensive income (loss), net of tax | (177) | 260 | (20) |
| Comprehensive income (loss) | 340 | 568 | 412 |
| Less: Comprehensive income (loss) attributable to the noncontrolling interests | 14 | 25 | 19 |
| Comprehensive income (loss) attributable to Caterpillar Financial Services Corporation | 326 | 543 | 393 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
CATERPILLAR FINANCIAL SERVICES CORP | ||
Ticker: CAT Fiscal Year: 2021 | ||
Consolidated Statements of Financial Position | ||
Period Ending Dec 31, 2021 10-K (Filed: Feb 16, 2022) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2021 | Dec 31, 2020 | |
| Assets: | ||
| Cash and cash equivalents | $ 610 | 411 |
| Finance receivables, net of Allowance for credit losses of $337 and $479 | 27,177 | 26,575 |
| Notes receivable from Caterpillar | 389 | 356 |
| Equipment on operating leases, net | 3,123 | 3,366 |
| Other assets | 1,088 | 1,283 |
| Total assets | 32,387 | 31,991 |
| Liabilities and shareholders equity: | ||
| Payable to dealers and others | 163 | 144 |
| Payable to Caterpillar borrowings and other | 95 | 1,087 |
| Accrued expenses | 233 | 400 |
| Short-term borrowings | 5,395 | 2,005 |
| Current maturities of long-term debt | 6,307 | 7,729 |
| Long-term debt | 16,287 | 16,250 |
| Other liabilities | 926 | 885 |
| Total liabilities | 29,406 | 28,500 |
| 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 | 2,797 | 3,142 |
| Accumulated other comprehensive income (loss) | (774) | (595) |
| Noncontrolling interests | 211 | 197 |
| Total shareholders equity | 2,981 | 3,491 |
| Total liabilities and shareholders equity | 32,387 | 31,991 |
| External Links | |
| CATERPILLAR FINANCIAL SERVICES CORP (CAT) Fiscal Year 2021 | |
| 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 |