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: 2022 | |||
Consolidated Results of Operations | |||
Period Ending Dec 31, 2022 10-K (Filed: Feb 15, 2023) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
| Sales and revenues: | |||
| Sales and revenues | $ 59,427 | 50,971 | 41,748 |
| Operating costs: | |||
| Cost of goods sold | 41,350 | 35,513 | 29,082 |
| Selling, general and administrative expenses | 5,651 | 5,365 | 4,642 |
| Research and development expenses | 1,814 | 1,686 | 1,415 |
| Goodwill impairment charge | 925 | 0 | 0 |
| Other operating (income) expenses | 1,218 | 1,074 | 1,467 |
| Total operating costs | 51,523 | 44,093 | 37,195 |
| Operating profit | 7,904 | 6,878 | 4,553 |
| Other income (expense) | 1,291 | 1,814 | (44) |
| Consolidated profit before tax | 8,752 | 8,204 | 3,995 |
| Provision (benefit) for income taxes | 2,067 | 1,742 | 1,006 |
| Profit (loss) of consolidated companies | 6,685 | 6,462 | 2,989 |
| Equity in profit (loss) of unconsolidated affiliated companies | 19 | 31 | 14 |
| Profit (loss) of consolidated and affiliated companies | 6,704 | 6,493 | 3,003 |
| Less: Profit (loss) attributable to noncontrolling interests | (1) | 4 | 5 |
| Profit (loss) | 6,705 | 6,489 | 2,998 |
| Profit (loss) per common share | 12.72 | 11.93 | 5.51 |
| Profit (loss) per common share - diluted | 12.64 | 11.83 | 5.46 |
| Weighted-average common shares outstanding (millions) | |||
| Basic | 526,900 | 544,000 | 544,100 |
| Diluted | 530,400 | 548,500 | 548,600 |
| Product and Service | |||
| Machinery, Energy & Transportation | |||
| Sales and revenues | 56,574 | 48,188 | 39,022 |
| Financial Products | |||
| Sales and revenues | 2,853 | 2,783 | 2,726 |
| Interest Expense of Financial Products | 565 | 455 | 589 |
| All other excluding Financial Products | |||
| Interest Expense excluding Financial Products | 443 | 488 | 514 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
CATERPILLAR FINANCIAL SERVICES CORP | |||
Ticker: CAT Fiscal Year: 2022 | |||
Consolidated Comprehensive Income | |||
Period Ending Dec 31, 2022 10-K (Filed: Feb 15, 2023) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
| Profit (loss) of consolidated and affiliated companies | $ 6,704 | 6,493 | 3,003 |
| Foreign currency translation | (820) | (598) | 577 |
| Pension and other post retirement benefits | 23 | (30) | (29) |
| Derivative financial instruments | 31 | (3) | 97 |
| Available-for-sale securities | (138) | (34) | 34 |
| Total other comprehensive income (loss), net of tax | (904) | (665) | 679 |
| Comprehensive income (loss) | 5,800 | 5,828 | 3,682 |
| Less: Profit (loss) attributable to noncontrolling interests | (1) | 4 | 5 |
| Comprehensive income (loss) attributable to shareholders | 5,801 | 5,824 | 3,677 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
CATERPILLAR FINANCIAL SERVICES CORP | |||
Ticker: CAT Fiscal Year: 2022 | |||
Consolidated Statement of Cash Flow | |||
Period Ending Dec 31, 2022 10-K (Filed: Feb 15, 2023) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
| Cash flow from operating activities: | |||
| Profit (loss) of consolidated and affiliated companies | $ 6,704 | 6,493 | 3,003 |
| Adjustments for non-cash items: | |||
| Depreciation and amortization | 2,219 | 2,352 | 2,432 |
| Actuarial (gain) loss on pension and postretirement benefits | (606) | (833) | 383 |
| Provision (benefit) for deferred income taxes | (377) | (383) | (74) |
| Goodwill impairment charge | 925 | 0 | 0 |
| Other | 701 | 216 | 1,000 |
| Changes in assets and liabilities, net of acquisitions and divestitures: | |||
| Receivables - trade and other | (220) | (1,259) | 1,442 |
| Inventories | (2,589) | (2,586) | (34) |
| Accounts payable | 798 | 2,041 | 98 |
| Accrued expenses | 317 | 196 | (366) |
| Accrued wages, salaries and employee benefits | 90 | 1,107 | (544) |
| Customer advances | 768 | 34 | (126) |
| Other assets - net | (210) | (97) | (201) |
| Other liabilities - net | (754) | (83) | (686) |
| Net Cash Provided by (Used in) Operating Activities | 7,766 | 7,198 | 6,327 |
| Cash flow from investing activities: | |||
| Capital expenditures - excluding equipment leased to others | (1,296) | (1,093) | (978) |
| Expenditures for equipment leased to others | (1,303) | (1,379) | (1,137) |
| Proceeds from disposals of leased assets and property, plant and equipment | 830 | 1,265 | 772 |
| Additions to finance receivables | (13,239) | (13,002) | (12,385) |
| Collections of finance receivables | 13,177 | 12,430 | 12,646 |
| Proceeds from sale of finance receivables | 57 | 51 | 42 |
| Investments and acquisitions (net of cash acquired) | (88) | (490) | (111) |
| Proceeds from sale of businesses and investments (net of cash sold) | 1 | 36 | 25 |
| Proceeds from sale of securities | 2,383 | 785 | 345 |
| Investments in securities | (3,077) | (1,766) | (638) |
| Other - net | 14 | 79 | (66) |
| Net Cash Provided by (Used in) Investing Activities | (2,541) | (3,084) | (1,485) |
| Cash flow from financing activities: | |||
| Dividends paid | (2,440) | (2,332) | (2,243) |
| Common stock issued, including treasury shares reissued | 51 | 135 | 229 |
| Common shares repurchased | (4,230) | (2,668) | (1,130) |
| Short-term borrowings - net (original maturities three months or less) | 402 | 3,488 | (2,804) |
| Other - net | (10) | (4) | (1) |
| Net Cash Provided by (Used in) Financing Activities | (7,281) | (4,188) | (3,755) |
| Effect of exchange rate changes on cash | (194) | (29) | (13) |
| Increase (decrease) in cash, cash equivalents and restricted cash | (2,250) | (103) | 1,074 |
| Cash, cash equivalents and restricted cash at beginning of period | 9,263 | 9,366 | |
| Cash, cash equivalents and restricted cash at end of period | 7,013 | 9,263 | 9,366 |
| Product and Service | |||
| Machinery, Energy & Transportation | |||
| Proceeds from Debt, Maturing in More than Three Months | 0 | 494 | 1,991 |
| Repayments of Debt, Maturing in More than Three Months | (25) | (1,919) | (26) |
| Financial Products | |||
| Proceeds from Debt, Maturing in More than Three Months | 6,674 | 6,495 | 8,440 |
| Repayments of Debt, Maturing in More than Three Months | (7,703) | (7,877) | (8,211) |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
CATERPILLAR FINANCIAL SERVICES CORP | ||
Ticker: CAT Fiscal Year: 2022 | ||
Consolidated Financial Position | ||
Period Ending Dec 31, 2022 10-K (Filed: Feb 15, 2023) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2022 | Dec 31, 2021 | |
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $ 7,004 | 9,254 |
| Receivables - trade and other | 8,856 | 8,477 |
| Receivables - finance | 9,013 | 8,898 |
| Prepaid Expense and Other Assets, Current | 2,642 | 2,788 |
| Inventories | 16,270 | 14,038 |
| Total current assets | 43,785 | 43,455 |
| Property, Plant and Equipment, Net | 12,028 | 12,090 |
| Long-term receivables - trade and other | 1,265 | 1,204 |
| Long-term receivables - finance | 12,013 | 12,707 |
| Noncurrent deferred and refundable income taxes | 2,213 | 1,840 |
| Intangible assets | 758 | 1,042 |
| Goodwill | 5,288 | 6,324 |
| Other assets | 4,593 | 4,131 |
| Segment assets | 81,943 | 82,793 |
| Liabilities | ||
| Current liabilities: | ||
| Short-term borrowings: | ||
| Short-term borrowings | 5,957 | 5,404 |
| Accounts payable | 8,689 | 8,154 |
| Accrued expenses | 4,080 | 3,757 |
| Accrued wages, salaries and employee benefits | 2,313 | 2,242 |
| Customer advances | 1,860 | 1,087 |
| Dividends payable | 620 | 595 |
| Other current liabilities | 2,690 | 2,256 |
| Long-term debt due within one year: | ||
| Total current liabilities | 31,531 | 29,847 |
| Long-term debt due after one year: | ||
| Liability for postemployment benefits | 4,203 | 5,592 |
| Other liabilities | 4,604 | 4,805 |
| SPC liabilities in consolidated statement | 66,052 | 66,277 |
| Shareholders' equity | ||
| Authorized shares: 2,000,000,000 Issued shares: (2022 and 2021 814,894,624 shares) at paid-in amount | 6,560 | 6,398 |
| Treasury stock: (2022 - 298,549,134 shares; and 2021 - 279,006,573 shares) at cost | (31,748) | (27,643) |
| Profit employed in the business | 43,514 | 39,282 |
| Accumulated other comprehensive income (loss) | (2,457) | (1,553) |
| Noncontrolling interests | 22 | 32 |
| Total stockholders' equity | 15,891 | 16,516 |
| Total liabilities and stockholders' equity | 81,943 | 82,793 |
| 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 | 298,549,134 | 279,006,573 |
| Product and Service | ||
| Machinery, Energy & Transportation | ||
| Short-term borrowings | 3 | 9 |
| Long-term Debt and Lease Obligation, Current | 120 | 45 |
| Long-term Debt and Lease Obligation | 9,498 | 9,746 |
| Financial Products | ||
| Short-term borrowings | 5,954 | 5,395 |
| Long-term Debt and Lease Obligation, Current | 5,202 | 6,307 |
| Long-term Debt and Lease Obligation | 16,216 | 16,287 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
CATERPILLAR FINANCIAL SERVICES CORP | |||
Ticker: CAT Fiscal Year: 2022 | |||
Consolidated Statements of Profit | |||
Period Ending Dec 31, 2022 10-K (Filed: Feb 15, 2023) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
| Revenues: | |||
| Retail finance | $ 1,229 | 1,197 | 1,249 |
| Operating lease | 888 | 942 | 965 |
| Wholesale finance | 441 | 314 | 336 |
| Other, net | 176 | 109 | 0 |
| Total revenues | 2,734 | 2,562 | 2,550 |
| Expenses: | |||
| Interest | 566 | 455 | 591 |
| Depreciation on equipment leased to others | 718 | 755 | 758 |
| General, operating and administrative | 531 | 528 | 433 |
| Provision for credit losses | 81 | 70 | 266 |
| Other | 24 | 36 | 43 |
| Total expenses | 1,920 | 1,844 | 2,091 |
| Other income (expense) | (83) | (23) | (25) |
| Profit before income taxes | 731 | 695 | 434 |
| Provision for income taxes | 189 | 178 | 126 |
| Profit of consolidated companies | 542 | 517 | 308 |
| Less: Profit attributable to noncontrolling interests | 7 | 12 | 15 |
| Profit attributable to Caterpillar Financial Services Corporation | 535 | 505 | 293 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
CATERPILLAR FINANCIAL SERVICES CORP | |||
Ticker: CAT Fiscal Year: 2022 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 31, 2022 10-K (Filed: Feb 15, 2023) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
| Profit of consolidated companies | $ 542 | 517 | 308 |
| Other comprehensive income (loss), net of tax (Note 9): | |||
| Foreign currency translation | (318) | (209) | 236 |
| Derivative financial instruments | 33 | 32 | 24 |
| Total Other comprehensive income (loss), net of tax | (285) | (177) | 260 |
| Comprehensive income (loss) | 257 | 340 | 568 |
| Less: Comprehensive income (loss) attributable to noncontrolling interests | (5) | 14 | 25 |
| Comprehensive income (loss) attributable to Caterpillar Financial Services Corporation | 262 | 326 | 543 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
CATERPILLAR FINANCIAL SERVICES CORP | ||
Ticker: CAT Fiscal Year: 2022 | ||
Consolidated Statements of Financial Position | ||
Period Ending Dec 31, 2022 10-K (Filed: Feb 15, 2023) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2022 | Dec 31, 2021 | |
| Assets: | ||
| Cash and cash equivalents | $ 868 | 610 |
| Finance receivables, net of Allowance for credit losses of $346 and $337 | 26,441 | 27,177 |
| Notes receivable from Caterpillar | 482 | 389 |
| Equipment on operating leases, net | 2,911 | 3,123 |
| Other assets | 1,255 | 1,088 |
| Total assets | 31,957 | 32,387 |
| Liabilities and shareholders equity: | ||
| Payable to dealers and others | 163 | 163 |
| Payable to Caterpillar borrowings and other | 124 | 95 |
| Accrued expenses | 380 | 233 |
| Short-term borrowings | 5,954 | 5,395 |
| Current maturities of long-term debt | 5,202 | 6,307 |
| Long-term debt | 16,216 | 16,287 |
| Other liabilities | 955 | 926 |
| Total liabilities | 28,994 | 29,406 |
| Commitments and contingent liabilities (Note 10) | ||
| 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 | 3,057 | 2,797 |
| Accumulated other comprehensive income (loss) | (1,047) | (774) |
| Noncontrolling interests | 206 | 211 |
| Total shareholders equity | 2,963 | 2,981 |
| Total liabilities and shareholders equity | 31,957 | 32,387 |
| External Links | |
| CATERPILLAR FINANCIAL SERVICES CORP (CAT) Fiscal Year 2022 | |
| 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 |