Exhibit 99.1
Caterpillar Inc.                                     
2Q 2026 Earnings Release



FOR IMMEDIATE RELEASE
Caterpillar Reports Second-Quarter 2026 Results
Second Quarter
($ in billions except profit per share)20262025
Sales and Revenues$20.5$16.6
Profit Per Share$7.77$4.62
Adjusted Profit Per Share$8.17$4.72
Please see a reconciliation of GAAP to non-GAAP financial measures in the appendix on pages 12 and 13.
●Second-quarter 2026 sales and revenues increased 24% to $20.5 billion
●Second-quarter 2026 profit per share of $7.77; adjusted profit per share of $8.17
●Deployed $2.2 billion of cash for share repurchases and dividends in the second quarter
IRVING, Texas, Aug. 4, 2026 – Caterpillar Inc. (NYSE: CAT) announced second-quarter 2026 results.
“This is the first time in company history that we have generated over $20 billion in sales and revenues in a single quarter,” said Caterpillar Chairman and CEO Joe Creed. “This milestone underscores both the essential work our customers do every day and the dedication of Caterpillar employees worldwide to solving our customers’ toughest challenges. Strong order rates and a growing backlog reflect broadening momentum across all three of our primary segments.”
Sales and revenues for the second quarter of 2026 were $20.5 billion, a 24% increase compared with $16.6 billion in the second quarter of 2025. The increase was primarily due to higher sales volume of $3.1 billion and favorable price realization of $595 million.
Operating profit margin was 20.9% for the second quarter of 2026, compared with 17.3% for the second quarter of 2025. Adjusted operating profit margin was 21.9% for the second quarter of 2026, compared with 17.6% for the second quarter of 2025. Second-quarter 2026 profit per share was $7.77, compared with second-quarter 2025 profit per share of $4.62. Adjusted profit per share in the second quarter of 2026 was $8.17, compared with second-quarter 2025 adjusted profit per share of $4.72. For the second quarter of 2026 and 2025, adjusted operating profit margin and adjusted profit per share excluded restructuring costs.
For the second quarter of 2026, enterprise operating cash flow was $4.4 billion, and the company ended the second quarter with $6.7 billion of enterprise cash. In the quarter, the company deployed $1.5 billion of cash for repurchases of Caterpillar common stock and $0.7 billion of cash for dividends.
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CONSOLIDATED RESULTS
Consolidated Sales and Revenues
conssalesandrevenues_qtra.jpg
The chart above graphically illustrates reasons for the change in consolidated sales and revenues between the second quarter of 2025 (at left) and the second quarter of 2026 (at right). Caterpillar management utilizes these charts internally to visually communicate with the company’s board of directors and employees.
Total sales and revenues for the second quarter of 2026 were $20.543 billion, an increase of $3.974 billion, or 24%, compared with $16.569 billion in the second quarter of 2025. The increase was primarily due to higher sales volume of $3.1 billion and favorable price realization of $595 million. Higher sales volume was mainly driven by higher sales of equipment to end users.
Sales were higher across the three primary segments.
Sales and Revenues by Segment
(Millions of dollars)Second Quarter 2025Sales
Volume		Price
Realization		CurrencyInter-Segment / OtherSecond Quarter 2026$
Change		%
Change
Power & Energy$7,037 $736 $212 $53 $200 $8,238 $1,201 17%
Construction Industries6,190 1,755 309 74 18 8,346 2,156 35%
Resource Industries3,886 639 75 65 (17)4,648 762 20%
All Other Segment85 1 1 — (3)84 (1)(1%)
Corporate Items and Eliminations(1,524)(18)(2)7 (198)(1,735)(211)
Machinery, Power & Energy15,674 3,113 595 199 — 19,581 3,907 25%
Financial Products Segment1,042 — — — 103 1,145 103 10%
Corporate Items and Eliminations(147)— — — (36)(183)(36)
Financial Products Revenues895 — — — 67 962 67 7%
Consolidated Sales and Revenues$16,569 $3,113 $595 $199 $67 $20,543 $3,974 24%
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Sales and Revenues by Geographic Region
North AmericaLatin AmericaEAMEAsia/PacificExternal Sales and RevenuesInter-SegmentTotal Sales and Revenues
(Millions of dollars)$% Chg$% Chg$% Chg$% Chg$% Chg$% Chg$% Chg
Second Quarter 2026
Power & Energy$4,182 30%$373 (16%)$1,348 3%$892 9%$6,795 17%$1,443 16%$8,238 17%
Construction Industries5,065 50%676 25%1,456 23%1,064 3%8,261 35%85 27%8,346 35%
Resource Industries2,230 34%671 13%713 22%954 1%4,568 21%80 (18%)4,648 20%
All Other Segment9 50%1 —%2 100%3 (50%)15 15%69 (4%)84 (1%)
Corporate Items and Eliminations(51)1 (1)(7)(58)(1,677)(1,735)
Machinery, Power & Energy11,435 39%1,722 10%3,518 15%2,906 4%19,581 25%— —%19,581 25%
Financial Products Segment765 9%122 16%137 9%121 12%1,145 10%— —%1,145 10%
Corporate Items and Eliminations(106)(23)(30)(24)(183)— (183)
Financial Products Revenues659 7%99 16%107 (1%)97 11%962 7%— —%962 7%
Consolidated Sales and Revenues$12,094 37%$1,821 10%$3,625 14%$3,003 4%$20,543 24%$— —%$20,543 24%
Second Quarter 2025
Power & Energy$3,225 $442 $1,306 $821 $5,794 $1,243 $7,037 
Construction Industries3,369 540 1,185 1,029 6,123 67 6,190 
Resource Industries1,668 592 584 945 3,789 97 3,886 
All Other Segment6 — 1 6 13 72 85 
Corporate Items and Eliminations(32)(3)(4)(6)(45)(1,479)(1,524)
Machinery, Power & Energy8,236 1,571 3,072 2,795 15,674 — 15,674 
Financial Products Segment703 105 126 108 1,042 — 1,042 
Corporate Items and Eliminations(88)(20)(18)(21)(147)— (147)
Financial Products Revenues615 85 108 87 895 — 895 
Consolidated Sales and Revenues$8,851 $1,656 $3,180 $2,882 $16,569 $— $16,569 

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Consolidated Operating Profit
consopprofit_qtra.jpg
The chart above graphically illustrates reasons for the change in consolidated operating profit between the second quarter of 2025 (at left) and the second quarter of 2026 (at right). Caterpillar management utilizes these charts internally to visually communicate with the company’s board of directors and employees. The bar titled Other includes consolidating adjustments and Machinery, Power & Energy’s other operating (income) expenses.
Operating profit for the second quarter of 2026 was $4.295 billion, an increase of $1.435 billion, or 50%, compared with $2.860 billion in the second quarter of 2025. The increase was primarily due to the profit impact of higher sales volume.
Operating profit in the second quarter of 2026 included $392 million of expected International Emergency Economic Power Act (IEEPA) tariff recoveries.
Profit (Loss) by Segment
(Millions of dollars)Second Quarter 2026Second Quarter 2025$
Change
%
 Change
Power & Energy$2,027 $1,554 $473 30%
Construction Industries1,947 1,244 703 57%
Resource Industries693 563 130 23%
All Other Segment— — — —%
Corporate Items and Eliminations(453)(566)113 
Machinery, Power & Energy4,214 2,795 1,419 51%
Financial Products Segment328 248 80 32%
Corporate Items and Eliminations(65)(36)(29)
Financial Products263 212 51 24%
Consolidating Adjustments(182)(147)(35)
Consolidated Operating Profit$4,295 $2,860 $1,435 50%




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Other Profit/Loss and Tax Items
•Other income (expense) in the second quarter of 2026 was income of $398 million, compared with income of $84 million in the second quarter of 2025. The change was primarily driven by favorable impacts from foreign currency, total return swap contracts and investment and interest income.
•The effective tax rate for the second quarter of 2026 was 23.1% compared to 23.0% for the second quarter of 2025. Excluding the discrete items discussed below, the global estimated annual effective tax rate was 23.0% for the second quarters of 2026 and 2025.
A discrete tax benefit of $26 million was recorded in the second quarter of 2026, compared with a $1 million benefit in the second quarter of 2025, for the settlement of stock-based compensation awards with associated tax deductions in excess of cumulative U.S. GAAP compensation expense.
In addition, the global estimated annual effective tax rate in the second quarter of 2026 excluded the impact of second quarter losses of $139 million for the divestiture of certain non-U.S. entities with no related tax benefit.
Please see a reconciliation of GAAP to non-GAAP financial measures in the appendix on pages 12 and 13.
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POWER & ENERGY
(Millions of dollars)
Segment Sales
Second Quarter 2025Sales VolumePrice RealizationCurrencyInter-SegmentSecond Quarter 2026$
 Change		%
 Change
Total Sales$7,037 $736 $212 $53 $200 $8,238 $1,201 17%
Sales by Application
Second Quarter 2026Second Quarter 2025$
Change		%
Change
Power Generation$3,098 $2,407 $691 29%
Oil and Gas2,044 1,867 177 9%
Industrial1,653 1,520 133 9%
External Sales6,795 5,794 1,001 17%
Inter-segment1,443 1,243 200 16%
Total Sales$8,238 $7,037 $1,201 17%
Segment Profit
Second Quarter 2026Second Quarter 2025
 
Change
%
Change
Segment Profit$2,027 $1,554 $473 30%
Segment Profit Margin24.6 %22.1 %2.5  pts
Power & Energy’s total sales were $8.238 billion in the second quarter of 2026, an increase of $1.201 billion, or 17%, compared with $7.037 billion in the second quarter of 2025. The increase was primarily due to higher sales volume of $736 million, favorable price realization of $212 million and higher inter-segment sales of $200 million.
•Power Generation – Sales increased in large reciprocating engines and in turbines and turbine-related services, primarily in data center applications.
•Oil and Gas – Sales increased in reciprocating engines used in gas compression applications and in reciprocating engine aftermarket parts, partially offset by lower sales of reciprocating engines used in well servicing applications. Sales also increased in turbines and turbine-related services.
•Industrial – Sales increased primarily in North America and EAME.
Power & Energy’s segment profit was $2.027 billion in the second quarter of 2026, an increase of $473 million, or 30%, compared with $1.554 billion in the second quarter of 2025. The increase was mainly due to the profit impact of higher sales volume of $457 million and favorable price realization of $212 million, partially offset by unfavorable manufacturing costs of $149 million. Unfavorable manufacturing costs largely reflected increased period manufacturing costs.

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CONSTRUCTION INDUSTRIES
(Millions of dollars)
Segment Sales
Second Quarter 2025Sales VolumePrice RealizationCurrencyInter-SegmentSecond Quarter 2026$
 Change		%
 Change
Total Sales$6,190 $1,755 $309 $74 $18 $8,346 $2,156 35%
Sales by Geographic Region
Second Quarter 2026Second Quarter 2025$
Change		%
Change
North America$5,065 $3,369 $1,696 50%
Latin America676 540 136 25%
EAME1,456 1,185 271 23%
Asia/Pacific1,064 1,029 35 3%
External Sales8,261 6,123 2,138 35%
Inter-segment85 67 18 27%
Total Sales$8,346 $6,190 $2,156 35%
Segment Profit
Second Quarter 2026Second Quarter 2025
 
Change
%
Change
Segment Profit$1,947 $1,244 $703 57%
Segment Profit Margin23.3 %20.1 %3.2  pts
Construction Industries’ total sales were $8.346 billion in the second quarter of 2026, an increase of $2.156 billion, or 35%, compared with $6.190 billion in the second quarter of 2025. The increase in sales was mainly due to higher sales volume of $1.8 billion and favorable price realization of $309 million. Higher sales volume was primarily driven by higher sales of equipment to end users.
•In North America, sales increased primarily due to higher sales volume and favorable price realization. Higher sales volume was mainly driven by higher sales of equipment to end users and by the impact from changes in dealer inventories.
•Sales increased in Latin America mainly due to higher sales volume and favorable currency impacts primarily related to the Brazilian real. Higher sales volume was mainly driven by higher sales of equipment to end users.
•In EAME, sales increased primarily due to higher sales volume and favorable currency impacts mainly related to the euro. Higher sales volume was primarily driven by higher sales of equipment to end users.
•Sales increased in Asia/Pacific mainly due to higher sales volume. Higher sales volume was primarily driven by higher sales of equipment to end users.
Construction Industries’ segment profit was $1.947 billion in the second quarter of 2026, an increase of $703 million, or 57%, compared with $1.244 billion in the second quarter of 2025. The increase was primarily due to the profit impact of higher sales volume.
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RESOURCE INDUSTRIES
(Millions of dollars)
Segment Sales
Second Quarter 2025Sales VolumePrice RealizationCurrencyInter-SegmentSecond Quarter 2026$
 Change		%
 Change
Total Sales$3,886 $639 $75 $65 $(17)$4,648 $762 20%
Sales by Industry
Second Quarter 2026Second Quarter 2025$
Change		%
Change
Mining, HC and Q&A*$3,685 $3,024 $661 22%
Rail883 765 118 15%
External Sales4,568 3,789 779 21%
Inter-segment80 97 (17)(18%)
Total Sales$4,648 $3,886 $762 20%
*Heavy Construction and Quarry & Aggregates (HC and Q&A)
Segment Profit
Second Quarter 2026Second Quarter 2025
 
Change
%
Change
Segment Profit$693 $563 $130 23%
Segment Profit Margin14.9 %14.5 %0.4  pts
Resource Industries’ total sales were $4.648 billion in the second quarter of 2026, an increase of $762 million, or 20%, compared with $3.886 billion in the second quarter of 2025. The increase was primarily due to higher sales volume. Higher sales volume was primarily driven by higher sales of equipment to end users.
•Mining, Heavy Construction and Quarry & Aggregates – Sales increased primarily due to higher sales of equipment to end users.
•Rail – Sales increased due to higher international locomotive deliveries. Sales also increased in rail services.
Resource Industries’ segment profit was $693 million in the second quarter of 2026, an increase of $130 million, or 23%, compared with $563 million in the second quarter of 2025. The increase was mainly due to the profit impact of higher sales volume of $269 million, partially offset by unfavorable manufacturing costs of $158 million. Unfavorable manufacturing costs primarily reflected increased period manufacturing costs.

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FINANCIAL PRODUCTS SEGMENT
(Millions of dollars)
Revenues by Geographic Region
Second Quarter 2026Second Quarter 2025$
Change		%
Change
North America$765 $703 $62 9%
Latin America122 105 17 16%
EAME137 126 11 9%
Asia/Pacific121 108 13 12%
Total Revenues$1,145 $1,042 $103 10%
Segment Profit
Second Quarter 2026Second Quarter 2025
 
Change
%
Change
Segment Profit$328 $248 $80 32%
Financial Products’ segment revenues were $1.145 billion in the second quarter of 2026, an increase of $103 million, or 10%, compared with $1.042 billion in the second quarter of 2025. The increase was primarily due to a favorable impact from higher average earning assets across all regions.
Financial Products’ segment profit was $328 million in the second quarter of 2026, an increase of $80 million, or 32%, compared with $248 million in the second quarter of 2025. The increase was mainly due to favorable impacts from higher average earning assets of $44 million, equity securities at Insurance Services of $22 million and higher margins at Insurance Services of $21 million, partially offset by higher provision for credit losses at Cat Financial of $22 million.
At the end of the second quarter of 2026, past dues at Cat Financial were 1.31%, compared with 1.62% at the end of the second quarter of 2025. Write-offs, net of recoveries, were $20 million for the second quarter of 2026 compared with $18 million for the second quarter of 2025. As of June 30, 2026, Cat Financial's allowance for credit losses totaled $294 million, or 0.84% of finance receivables, compared with $283 million, or 0.86% of finance receivables at March 31, 2026. The allowance for credit losses at year-end 2025 was $284 million, or 0.86% of finance receivables.

Corporate Items and Eliminations
Expense for corporate items and eliminations was $518 million in the second quarter of 2026, a decrease of $84 million from the second quarter of 2025. This decrease was due to timing differences, which included the majority of the expected IEEPA tariff recoveries recorded in the second quarter of 2026, and favorable impacts of segment reporting methodology differences. This was partially offset by higher corporate costs, higher restructuring costs and an unfavorable change in fair value adjustments related to deferred compensation plans.
In the second quarter of 2026, restructuring costs increased primarily due to the divestiture of certain non-U.S. entities.
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Notes
i.Glossary of terms is included on the Caterpillar website at https://investors.caterpillar.com/overview/default.aspx.
ii.Sales of equipment to end users is demonstrated by the company’s Rolling 3 Month Retail Sales Statistics filed in a Form 8-K on Tuesday, Aug. 4, 2026.
iii.Information on non-GAAP financial measures is included in the appendix on pages 12 and 13.
iv.Some amounts within this report are rounded to the millions or billions and may not add.
v.Caterpillar will conduct a teleconference and live webcast, with a slide presentation, beginning at 7:30 a.m. Central Time on Tuesday, Aug. 4, 2026, to discuss its 2026 second-quarter results. The accompanying slides will be available before the webcast on the Caterpillar website at https://investors.caterpillar.com/events-presentations/default.aspx.
About Caterpillar
For more than a century, Caterpillar has built a better, more sustainable world. With 2025 sales and revenues of $67.6 billion, Caterpillar Inc. is shaping the future as the world’s leading manufacturer of construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. Backed by one of the largest independent global dealer networks and financing services through Cat Financial, the company’s primary business segments: Power & Energy, Construction Industries and Resource Industries are solving customers’ toughest challenges through commercial excellence and advanced technology, driven by a highly skilled, dedicated global team. Learn more at caterpillar.com.
Caterpillar’s latest financial results are also available online:
https://investors.caterpillar.com/overview/default.aspx
https://investors.caterpillar.com/financials/quarterly-results/default.aspx (live broadcast/replays of quarterly conference call)
Caterpillar investor relations contact: Alex Kapper, +1 773-250-2227 or Kapper_Alex@cat.com

Caterpillar media contact: Tiffany Heikkila, +1 832-573-0958 or Tiffany.Heikkila@cat.com














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Forward-Looking Statements
Certain statements in this press release relate to future events and expectations and are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “believe,” “estimate,” “will be,” “will,” “would,” “expect,” “anticipate,” “plan,” “forecast,” “target,” “guide,” “project,” “intend,” “could,” “should” or other similar words or expressions often identify forward-looking statements. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding our outlook, projections, forecasts or trend descriptions. These statements do not guarantee future performance and speak only as of the date they are made, and we do not undertake to update our forward-looking statements.
Caterpillar’s actual results may differ materially from those described or implied in our forward-looking statements based on a number of factors, including, but not limited to: (i) global and regional economic conditions and economic conditions in the industries we serve; (ii) commodity price changes, material price increases, fluctuations in demand for our products or significant shortages of material; (iii) government monetary or fiscal policies; (iv) political and economic risks, commercial instability and events beyond our control in the countries in which we operate; (v) international trade policies and their impact on demand for our products and our competitive position, including the imposition of new tariffs or changes in existing tariff rates; (vi) our ability to develop, produce and market quality products that meet our customers’ needs; (vii) the impact of the highly competitive environment in which we operate on our sales and pricing; (viii) information technology security threats and computer crime; (ix) inventory management decisions and sourcing practices of our dealers and our OEM customers; (x) a failure to realize, or a delay in realizing, all of the anticipated benefits of our acquisitions, joint ventures or divestitures; (xi) union disputes or other employee relations issues; (xii) adverse effects of unexpected events; (xiii) disruptions or volatility in global financial markets limiting our sources of liquidity or the liquidity of our customers, dealers and suppliers; (xiv) failure to maintain our credit ratings and potential resulting increases to our cost of borrowing and adverse effects on our cost of funds, liquidity, competitive position and access to capital markets; (xv) our Financial Products segment’s risks associated with the financial services industry; (xvi) changes in interest rates or market liquidity conditions; (xvii) an increase in delinquencies, repossessions or net losses of Cat Financial’s customers; (xviii) currency fluctuations; (xix) our or Cat Financial’s compliance with financial and other restrictive covenants in debt agreements; (xx) increased pension plan funding obligations; (xxi) alleged or actual violations of trade or anti-corruption laws and regulations; (xxii) additional tax expense or exposure, including the impact of U.S. tax reform; (xxiii) significant legal proceedings, claims, lawsuits or government investigations; (xxiv) new regulations or changes in financial services regulations; (xxv) compliance with environmental laws and regulations; (xxvi) catastrophic events, including global pandemics such as the COVID-19 pandemic; and (xxvii) other factors described in more detail in Caterpillar’s Forms 10-Q, 10-K and other filings with the Securities and Exchange Commission.
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APPENDIX
NON-GAAP FINANCIAL MEASURES
The following definitions are provided for the non-GAAP financial measures. These non-GAAP financial measures have no standardized meaning prescribed by U.S. GAAP and therefore are unlikely to be comparable to the calculation of similar measures for other companies. Management does not intend these items to be considered in isolation or as a substitute for the related GAAP measures.
The company believes it is important to separately quantify the profit impact of two significant items in order for the company’s results to be meaningful to readers. These items consist of (i) restructuring costs related to the divestiture of certain non-U.S. entities in 2026 and (ii) other restructuring costs. The company does not consider this item indicative of earnings from ongoing business activities and believes the non-GAAP measure provides investors with useful perspective on underlying business results and trends and aids with assessing the company’s period-over-period results. The company intends to discuss adjusted profit per share for the fourth quarter and full-year 2026, excluding mark-to-market gains or losses for remeasurement of pension and other postemployment benefit plans.
Reconciliations of adjusted results to the most directly comparable GAAP measure are as follows:
(Dollars in millions except per share data)Operating ProfitOperating Profit MarginProfit Before TaxesProvision (Benefit) for Income TaxesProfitProfit per Share
Three Months Ended June 30, 2026 - U.S. GAAP
$4,295 20.9 %$4,558 $1,055 $3,593 $7.77 
Restructuring costs - divestiture of certain non-U.S. entities
1390.7 %139— 1390.30 
Other restructuring costs63 0.3 %63 15 48 0.10 
Three Months Ended June 30, 2026 - Adjusted
$4,497 21.9 %$4,760 $1,070 $3,780 $8.17 
Three Months Ended June 30, 2025 - U.S. GAAP
$2,860 17.3 %$2,818 $646 $2,179 $4.62 
Other restructuring costs56 0.3 %56 12 47 0.10
Three Months Ended June 30, 2025 - Adjusted
$2,916 17.6 %$2,874 $658 $2,226 $4.72 





















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The company believes it is important to separately disclose the annual effective tax rate, excluding discrete items for the results to be meaningful to readers. The annual effective tax rate is discussed using non-GAAP financial measures that exclude the effects of amounts associated with discrete items recorded fully in the quarter they occur. For the three months ended June 30, 2026 and 2025, these items consist of (i) restructuring costs related to the divestiture of certain non-U.S. entities in 2026 and (ii) the settlement of stock-based compensation awards with associated tax deductions in excess of cumulative U.S. GAAP compensation expense. The company believes the non-GAAP measures will provide investors with useful perspective on underlying business results and trends and aids with assessing the company's period-over-period results.
A reconciliation of the effective tax rate to annual effective tax rate, excluding discrete items is below:
(Dollars in millions)Profit Before TaxesProvision (Benefit) for Income TaxesEffective Tax Rate
Three Months Ended June 30, 2026 - U.S. GAAP
$4,558 1,055 23.1 %
Restructuring costs - divestiture of certain non-U.S. entities139 — 
Excess stock-based compensation— 26 
Annual effective tax rate, excluding discrete items$4,697 $1,081 23.0 %
Excess stock-based compensation— (26)
Other restructuring costs63 15 
Three Months Ended June 30, 2026 - Adjusted
$4,760 $1,070 
Three Months Ended June 30, 2025 - U.S. GAAP
$2,818 $646 23.0 %
Excess stock-based compensation— 1 
Annual effective tax rate, excluding discrete items$2,818 $647 23.0 %
Excess stock-based compensation— (1)
Other restructuring costs56 12 
Three Months Ended June 30, 2025 - Adjusted
$2,874 $658 























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Supplemental Consolidating Data
The company is providing supplemental consolidating data for the purpose of additional analysis. The data has been grouped as follows:
Consolidated – Caterpillar Inc. and its subsidiaries.
Machinery, Power & Energy (MP&E) – The company defines MP&E as it is presented in the supplemental data as Caterpillar Inc. and its subsidiaries, excluding Financial Products. MP&E’s information relates to the design, manufacturing and marketing of its products.
Financial Products – The company defines Financial Products as it is presented in the supplemental data as its finance and insurance subsidiaries, primarily Caterpillar Financial Services Corporation (Cat Financial) and Caterpillar Insurance Holdings Inc. (Insurance Services). Financial Products’ information relates to the financing to customers and dealers for the purchase and lease of Caterpillar and other equipment.
Consolidating Adjustments – Eliminations of transactions between MP&E and Financial Products.
The nature of the MP&E and Financial Products businesses is different, especially with regard to the financial position and cash flow items. Caterpillar management utilizes this presentation internally to highlight these differences. The company believes this presentation will assist readers in understanding its business.
Pages 15 to 25 reconcile MP&E and Financial Products to Caterpillar Inc. consolidated financial information.
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Caterpillar Inc.
Condensed Consolidated Statement of Results of Operations
(Unaudited)
(Dollars in millions except per share data)
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Sales and revenues:
Sales of Machinery, Power & Energy$19,581 $15,674 $36,054 $29,052 
Revenues of Financial Products962 895 1,904 1,766 
Total sales and revenues20,543 16,569 37,958 30,818 
Operating costs:
Cost of goods sold12,781 10,807 24,087 19,772 
Selling, general and administrative expenses2,018 1,694 3,834 3,287 
Research and development expenses616 551 1,153 1,031 
Interest expense of Financial Products362 336 707 662 
Other operating (income) expenses471 321 797 627 
Total operating costs16,248 13,709 30,578 25,379 
Operating profit4,295 2,860 7,380 5,439 
Interest expense excluding Financial Products135 126 269 242 
Other income (expense)398 84 658 191 
Consolidated profit before taxes4,558 2,818 7,769 5,388 
Provision (benefit) for income taxes1,055 646 1,725 1,220 
Profit of consolidated companies3,503 2,172 6,044 4,168 
Equity in profit (loss) of unconsolidated affiliated companies90 7 97 14 
Profit of consolidated and affiliated companies3,593 2,179 6,141 4,182 
Less: Profit (loss) attributable to noncontrolling interests— — (1)— 
Profit 1
$3,593 $2,179 $6,142 $4,182 
Profit per common share$7.80 $4.64 $13.29 $8.85 
Profit per common share — diluted 2
$7.77 $4.62 $13.23 $8.82 
Weighted-average common shares outstanding (millions)
– Basic460.4 469.7 462.0 472.4 
– Diluted 2
462.5 471.5 464.3 474.5 
1Profit attributable to common shareholders.
2Diluted by assumed exercise of stock-based compensation awards using the treasury stock method.
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16

Caterpillar Inc.
Condensed Consolidated Statement of Financial Position
(Unaudited)
(Millions of dollars)
June 30,
2026		December 31,
2025
Assets
Current assets:
Cash and cash equivalents$6,713 $9,980 
Receivables – trade and other13,188 10,920 
Receivables – finance10,844 10,649 
Prepaid expenses and other current assets3,078 2,801 
Inventories20,627 18,135 
Total current assets54,450 52,485 
Property, plant and equipment – net15,628 15,140 
Long-term receivables – trade and other3,086 2,142 
Long-term receivables – finance14,364 14,272 
Noncurrent deferred and refundable income taxes2,286 2,882 
Intangible assets420 241 
Goodwill5,859 5,321 
Other assets6,516 6,102 
Total assets$102,609 $98,585 
Liabilities
Current liabilities:
Short-term borrowings:
-- Financial Products$5,046 $5,514 
Accounts payable10,313 8,968 
Accrued expenses5,825 5,587 
Accrued wages, salaries and employee benefits2,148 2,554 
Customer advances4,777 3,314 
Dividends payable749 703 
Other current liabilities2,871 2,798 
Long-term debt due within one year:
-- Machinery, Power & Energy35 35 
-- Financial Products8,026 7,085 
Total current liabilities39,790 36,558 
Long-term debt due after one year:
-- Machinery, Power & Energy10,655 10,678 
-- Financial Products21,384 20,018 
Liability for postemployment benefits3,744 3,838 
Other liabilities7,642 6,175 
Total liabilities83,215 77,267 
Shareholders’ equity
Common stock5,654 7,181 
Treasury stock(54,533)(49,539)
Profit employed in the business70,141 65,448 
Accumulated other comprehensive income (loss)(1,867)(1,772)
Noncontrolling interests(1)— 
Total shareholders’ equity19,394 21,318 
Total liabilities and shareholders’ equity$102,609 $98,585 

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17

Caterpillar Inc.
Condensed Consolidated Statement of Cash Flow
(Unaudited)
(Millions of dollars)
Six Months Ended June 30,
20262025
Cash flow from operating activities:
Profit of consolidated and affiliated companies$6,141 $4,182 
Adjustments to reconcile profit to net cash provided by operating activities:
Depreciation and amortization1,211 1,094 
Provision (benefit) for deferred income taxes644 (110)
(Gain) loss on divestiture139 — 
Other(22)398 
Changes in assets and liabilities, net of acquisitions and divestitures:
Receivables – trade and other(3,182)(319)
Inventories(2,553)(1,639)
Accounts payable1,528 973 
Accrued expenses189 (12)
Accrued wages, salaries and employee benefits(408)(805)
Customer advances2,576 1,276 
Other assets – net(93)(90)
Other liabilities – net71 (537)
Net cash provided by (used for) operating activities6,241 4,411 
Cash flow from investing activities:
Capital expenditures – excluding equipment leased to others(1,315)(1,265)
Expenditures for equipment leased to others(847)(608)
Proceeds from disposals of leased assets and property, plant and equipment436 365 
Additions to finance receivables(8,639)(7,064)
Collections of finance receivables8,060 6,399 
Proceeds from sale of finance receivables33 18 
Investments and acquisitions (net of cash acquired)(802)(21)
Proceeds from sale of businesses and investments (net of cash sold)(92)12 
Proceeds from maturities and sale of securities734 1,328 
Investments in securities(1,155)(618)
Other – net148 (53)
Net cash provided by (used for) investing activities(3,439)(1,507)
Cash flow from financing activities:
Dividends paid(1,399)(1,336)
Common stock issued, and other stock compensation transactions, net(121)(59)
Payments to purchase common stock(6,522)(4,488)
Excise tax paid on purchases of common stock(49)(73)
Proceeds from debt issued (original maturities greater than three months)7,363 5,707 
Payments on debt (original maturities greater than three months)(4,763)(4,168)
Short-term borrowings – net (original maturities three months or less)(542)72 
Net cash provided by (used for) financing activities(6,033)(4,345)
Effect of exchange rate changes on cash(35)(7)
Increase (decrease) in cash, cash equivalents and restricted cash(3,266)(1,448)
Cash, cash equivalents and restricted cash at beginning of period9,986 6,896 
Cash, cash equivalents and restricted cash at end of period$6,720 $5,448 
Cash equivalents primarily represent short-term, highly liquid investments with original maturities of generally three months or less.

(more)


18

Caterpillar Inc.
Supplemental Data for Results of Operations
For the Three Months Ended June 30, 2026
(Unaudited)
(Millions of dollars)
Supplemental Consolidating Data
ConsolidatedMachinery, Power & EnergyFinancial
Products		Consolidating
Adjustments
Sales and revenues:
Sales of Machinery, Power & Energy$19,581 $19,581 $— $— 
Revenues of Financial Products962 — 1,188 (226)1
Total sales and revenues20,543 19,581 1,188 (226)
Operating costs:
Cost of goods sold12,781 12,783 — (2)2
Selling, general and administrative expenses2,018 1,800 223 (5)2
Research and development expenses616 616 — — 
Interest expense of Financial Products362 — 374 (12)2
Other operating (income) expenses471 168 328 (25)2
Total operating costs16,248 15,367 925 (44)
Operating profit4,295 4,214 263 (182)
Interest expense excluding Financial Products135 141 — (6)3
Other income (expense)398 163 59 176 4
Consolidated profit before taxes4,558 4,236 322 — 
Provision (benefit) for income taxes1,055 963 92 — 
Profit of consolidated companies3,503 3,273 230 — 
Equity in profit (loss) of unconsolidated affiliated companies90 90 — — 
Profit of consolidated and affiliated companies3,593 3,363 230 — 
Less: Profit (loss) attributable to noncontrolling interests— — — — 
Profit 5
$3,593 $3,363 $230 $— 
1Elimination of Financial Products’ revenues earned from MP&E.
2Elimination of net expenses recorded between MP&E and Financial Products.
3Elimination of interest expense recorded between Financial Products and MP&E.
4Elimination of discount recorded by MP&E on receivables sold to Financial Products and of interest earned between MP&E and Financial Products as well as dividends paid by Financial Products to MP&E.
5Profit attributable to common shareholders.





(more)


19

Caterpillar Inc.
Supplemental Data for Results of Operations
For the Three Months Ended June 30, 2025
(Unaudited)
(Millions of dollars)
Supplemental Consolidating Data
ConsolidatedMachinery, Power & EnergyFinancial
Products		Consolidating
Adjustments
Sales and revenues:
Sales of Machinery, Power & Energy$15,674 $15,674 $— $— 
Revenues of Financial Products895 — 1,081 (186)1
Total sales and revenues16,569 15,674 1,081 (186)
Operating costs:
Cost of goods sold10,807 10,809 — (2)2
Selling, general and administrative expenses1,694 1,497 209 (12)2
Research and development expenses551 551 — — 
Interest expense of Financial Products336 — 342 (6)
Other operating (income) expenses321 22 318 (19)2
Total operating costs13,709 12,879 869 (39)
Operating profit2,860 2,795 212 (147)
Interest expense excluding Financial Products126 130 — (4)
Other income (expense)84 (101)42 143 3
Consolidated profit before taxes2,818 2,564 254 — 
Provision (benefit) for income taxes646 585 61 — 
Profit of consolidated companies2,172 1,979 193 — 
Equity in profit (loss) of unconsolidated affiliated companies7 7 — — 
Profit of consolidated and affiliated companies2,179 1,986 193 — 
Less: Profit (loss) attributable to noncontrolling interests— (1)1 — 
Profit 4
$2,179 $1,987 $192 $— 
1Elimination of Financial Products’ revenues earned from MP&E.
2Elimination of net expenses recorded by MP&E paid to Financial Products.
3Elimination of discount recorded by MP&E on receivables sold to Financial Products and of interest earned between MP&E and Financial Products as well as dividends paid by Financial Products to MP&E.
4Profit attributable to common shareholders.
(more)


20

Caterpillar Inc.
Supplemental Data for Results of Operations
For the Six Months Ended June 30, 2026
(Unaudited)
(Millions of dollars)
Supplemental Consolidating Data
ConsolidatedMachinery, Power & EnergyFinancial
Products		Consolidating
Adjustments
Sales and revenues:
Sales of Machinery, Power & Energy$36,054 $36,054 $— $— 
Revenues of Financial Products1,904 — 2,331 (427)1
Total sales and revenues37,958 36,054 2,331 (427)
Operating costs:
Cost of goods sold24,087 24,091 — (4)2
Selling, general and administrative expenses3,834 3,409 445 (20)2
Research and development expenses1,153 1,153 — — 
Interest expense of Financial Products707 — 730 (23)2
Other operating (income) expenses797 188 656 (47)2
Total operating costs30,578 28,841 1,831 (94)
Operating profit7,380 7,213 500 (333)
Interest expense excluding Financial Products269 281 — (12)3
Other income (expense)658 262 75 321 4
Consolidated profit before taxes7,769 7,194 575 — 
Provision (benefit) for income taxes1,725 1,570 155 — 
Profit of consolidated companies6,044 5,624 420 — 
Equity in profit (loss) of unconsolidated affiliated companies97 97 — — 
Profit of consolidated and affiliated companies6,141 5,721 420 — 
Less: Profit (loss) attributable to noncontrolling interests(1)(1)— — 
Profit 5
$6,142 $5,722 $420 $— 
1Elimination of Financial Products’ revenues earned from MP&E.
2Elimination of net expenses recorded between MP&E and Financial Products.
3Elimination of interest expense recorded between Financial Products and MP&E.
4Elimination of discount recorded by MP&E on receivables sold to Financial Products and of interest earned between MP&E and Financial Products as well as dividends paid by Financial Products to MP&E.
5Profit attributable to common shareholders.



(more)


21

Caterpillar Inc.
Supplemental Data for Results of Operations
For the Six Months Ended June 30, 2025
(Unaudited)
(Millions of dollars)
Supplemental Consolidating Data
ConsolidatedMachinery, Power & EnergyFinancial
Products		Consolidating
Adjustments
Sales and revenues:
Sales of Machinery, Power & Energy$29,052 $29,052 $— $— 
Revenues of Financial Products1,766 — 2,129 (363)1
Total sales and revenues30,818 29,052 2,129 (363)
Operating costs:
Cost of goods sold19,772 19,776 — (4)2
Selling, general and administrative expenses3,287 2,905 405 (23)2
Research and development expenses1,031 1,031 — — 
Interest expense of Financial Products662 — 668 (6)
Other operating (income) expenses627 30 643 (46)2
Total operating costs25,379 23,742 1,716 (79)
Operating profit5,439 5,310 413 (284)
Interest expense excluding Financial Products242 249 — (7)
Other income (expense)191 (146)60 277 3
Consolidated profit before taxes5,388 4,915 473 — 
Provision (benefit) for income taxes1,220 1,105 115 — 
Profit of consolidated companies4,168 3,810 358 — 
Equity in profit (loss) of unconsolidated affiliated companies14 14 — — 
Profit of consolidated and affiliated companies4,182 3,824 358 — 
Less: Profit (loss) attributable to noncontrolling interests— (1)1 — 
Profit 4
$4,182 $3,825 $357 $— 
1Elimination of Financial Products’ revenues earned from MP&E.
2Elimination of net expenses recorded between MP&E and Financial Products.
3Elimination of discount recorded by MP&E on receivables sold to Financial Products and of interest earned between MP&E and Financial Products as well as dividends paid by Financial Products to MP&E.
4Profit attributable to common shareholders.
(more)


22

Caterpillar Inc.
Supplemental Data for Financial Position
At June 30, 2026
(Unaudited)
(Millions of dollars)
Supplemental Consolidating Data
ConsolidatedMachinery, Power & EnergyFinancial
Products		Consolidating
Adjustments
Assets
Current assets:
Cash and cash equivalents$6,713 $5,945 $768 $— 
Receivables – trade and other13,188 4,630 686 7,872 
1,2
Receivables – finance10,844 — 18,938 (8,094)2
Prepaid expenses and other current assets3,078 2,683 423 (28)3
Inventories20,627 20,627 — — 
Total current assets54,450 33,885 20,815 (250)
Property, plant and equipment – net15,628 11,314 4,268 46 4
Long-term receivables – trade and other3,086 2,721 101 264 
1,2
Long-term receivables – finance14,364 — 15,912 (1,548)2
Noncurrent deferred and refundable income taxes2,286 2,596 124 (434)5
Intangible assets420 420 — — 
Goodwill5,859 5,859 — — 
Other assets6,516 4,826 2,783 (1,093)6
Total assets$102,609 $61,621 $44,003 $(3,015)
Liabilities
Current liabilities:
Short-term borrowings$5,046 $— $5,046 $— 
Accounts payable10,313 10,275 251 (213)7
Accrued expenses5,825 5,069 756 — 
Accrued wages, salaries and employee benefits2,148 2,098 50 — 
Customer advances4,777 4,774 3 — 
Dividends payable749 749 — — 
Other current liabilities2,871 2,212 709 (50)
5,8,9
Long-term debt due within one year8,061 35 8,026 — 
Total current liabilities39,790 25,212 14,841 (263)
Long-term debt due after one year32,039 10,948 22,384 (1,293)9
Liability for postemployment benefits3,744 3,743 1 — 
Other liabilities7,642 6,607 1,552 (517)5
Total liabilities83,215 46,510 38,778 (2,073)
Shareholders’ equity
Common stock5,654 5,654 905 (905)10
Treasury stock(54,533)(54,533)— — 
Profit employed in the business70,141 64,890 5,219 32 10
Accumulated other comprehensive income (loss)(1,867)(901)(966)— 
Noncontrolling interests(1)1 67 (69)10
Total shareholders’ equity19,394 15,111 5,225 (942)
Total liabilities and shareholders’ equity$102,609 $61,621 $44,003 $(3,015)
1Elimination of receivables between MP&E and Financial Products.
2Reclassification of MP&E’s trade receivables purchased by Financial Products and Financial Products’ wholesale inventory receivables.
3Elimination of MP&E's insurance premiums that are prepaid to Financial Products.
4Reclassification of Financial Products’ other assets to property, plant and equipment.
5
Reclassification reflecting required netting of deferred tax assets/liabilities by taxing jurisdiction.
6Elimination of other intercompany assets and liabilities between MP&E and Financial Products.
7Elimination of payables between MP&E and Financial Products.
8Elimination of prepaid insurance in Financial Products’ other liabilities.
9
Elimination of debt between MP&E and Financial Products.
10Eliminations associated with MP&E’s investments in Financial Products’ subsidiaries.
(more)


23

Caterpillar Inc.
Supplemental Data for Financial Position
At December 31, 2025
(Unaudited)
(Millions of dollars)
Supplemental Consolidating Data
ConsolidatedMachinery, Power & EnergyFinancial
Products		Consolidating
Adjustments
Assets
Current assets:
Cash and cash equivalents$9,980 $9,333 $647 $— 
Receivables – trade and other10,920 3,883 657 6,380 
1,2
Receivables – finance10,649 — 17,325 (6,676)2
Prepaid expenses and other current assets2,801 2,448 441 (88)3
Inventories18,135 18,135 — — 
Total current assets52,485 33,799 19,070 (384)
Property, plant and equipment – net15,140 10,985 4,106 49 4
Long-term receivables – trade and other2,142 1,982 163 (3)
1,2
Long-term receivables – finance14,272 — 15,538 (1,266)2
Noncurrent deferred and refundable income taxes2,882 3,208 133 (459)5
Intangible assets241 241 — — 
Goodwill5,321 5,321 — — 
Other assets6,102 4,525 2,651 (1,074)6
Total assets$98,585 $60,061 $41,661 $(3,137)
Liabilities
Current liabilities:
Short-term borrowings$5,514 $— $5,514 $— 
Accounts payable8,968 8,988 268 (288)7
Accrued expenses5,587 4,877 710 — 
Accrued wages, salaries and employee benefits2,554 2,494 60 — 
Customer advances3,314 3,311 3 — 
Dividends payable703 703 — — 
Other current liabilities2,798 2,259 645 (106)
5,8
Long-term debt due within one year7,120 35 7,085 — 
Total current liabilities36,558 22,667 14,285 (394)
Long-term debt due after one year30,696 10,955 21,018 (1,277)9
Liability for postemployment benefits3,838 3,837 1 — 
Other liabilities6,175 5,162 1,516 (503)5
Total liabilities77,267 42,621 36,820 (2,174)
Shareholders’ equity
Common stock7,181 7,181 905 (905)10
Treasury stock(49,539)(49,539)— — 
Profit employed in the business65,448 60,639 4,799 10 10
Accumulated other comprehensive income (loss)(1,772)(843)(929)— 
Noncontrolling interests— 2 66 (68)10
Total shareholders’ equity21,318 17,440 4,841 (963)
Total liabilities and shareholders’ equity$98,585 $60,061 $41,661 $(3,137)
1Elimination of receivables between MP&E and Financial Products.
2Reclassification of MP&E’s trade receivables purchased by Financial Products and Financial Products’ wholesale inventory receivables.
3Elimination of MP&E’s insurance premiums that are prepaid to Financial Products.
4Reclassification of Financial Products’ other assets to property, plant and equipment.
5
Reclassification reflecting required netting of deferred tax assets/liabilities by taxing jurisdiction.
6Elimination of other intercompany assets and liabilities between MP&E and Financial Products.
7Elimination of payables between MP&E and Financial Products.
8
Elimination of prepaid insurance in Financial Products’ other liabilities.
9Elimination of debt between MP&E and Financial Products.
10Eliminations associated with MP&E’s investments in Financial Products’ subsidiaries.
(more)


24

Caterpillar Inc.
Supplemental Data for Cash Flow
For the Six Months Ended June 30, 2026
(Unaudited)
(Millions of dollars)
Supplemental Consolidating Data
ConsolidatedMachinery, Power & EnergyFinancial
Products		Consolidating
Adjustments
Cash flow from operating activities:
Profit of consolidated and affiliated companies$6,141 $5,721 $420 $— 
Adjustments to reconcile profit to net cash provided by operating activities:
Depreciation and amortization1,211 812 399 — 
Provision (benefit) for deferred income taxes644 666 (22)— 
(Gain) loss on divestiture139 139 — — 
Other(22)(74)(271)323 1
Changes in assets and liabilities, net of acquisitions and divestitures:
Receivables – trade and other(3,182)(1,356)(27)(1,799)
1,2
Inventories(2,553)(2,552)— (1)1
Accounts payable1,528 1,518 (65)75 1
Accrued expenses189 183 6 — 
Accrued wages, salaries and employee benefits(408)(399)(9)— 
Customer advances2,576 2,576 — — 
Other assets – net(93)(111)35 (17)1
Other liabilities – net71 (112)148 35 1
Net cash provided by (used for) operating activities6,241 7,011 614 (1,384)
Cash flow from investing activities:
Capital expenditures – excluding equipment leased to others(1,315)(1,302)(16)3 1
Expenditures for equipment leased to others(847)(11)(840)4 1
Proceeds from disposals of leased assets and property, plant and equipment436 35 407 (6)1
Additions to finance receivables(8,639)— (10,312)1,673 2
Collections of finance receivables8,060 — 9,188 (1,128)2
Net intercompany purchased receivables— — (838)838 2
Proceeds from sale of finance receivables33 — 33 — 
Collections of intercompany receivables (original maturities greater than three months)— — 48 (48)3
Investments and acquisitions (net of cash acquired)(802)(802)— — 
Proceeds from sale of businesses and investments (net of cash sold)(92)(92)— — 
Proceeds from maturities and sale of securities734 395 339 — 
Investments in securities(1,155)(648)(507)— 
Other – net148 230 (82)— 
Net cash provided by (used for) investing activities(3,439)(2,195)(2,580)1,336 
Cash flow from financing activities:
Dividends paid(1,399)(1,399)— — 
Common stock issued, and other stock compensation transactions, net(121)(121)— — 
Payments to purchase common stock(6,522)(6,522)— — 
Excise tax paid on purchases of common stock(49)(49)— — 
Payments on intercompany borrowings (original maturities greater than three months)— (48)— 48 3
Proceeds from debt issued (original maturities greater than three months)7,363 — 7,363 — 
Payments on debt (original maturities greater than three months)(4,763)(19)(4,744)— 
Short-term borrowings – net (original maturities three months or less)(542)— (542)— 
Net cash provided by (used for) financing activities(6,033)(8,158)2,077 48 
Effect of exchange rate changes on cash(35)(44)9 — 
Increase (decrease) in cash, cash equivalents and restricted cash(3,266)(3,386)120 — 
Cash, cash equivalents and restricted cash at beginning of period9,986 9,336 650 — 
Cash, cash equivalents and restricted cash at end of period$6,720 $5,950 $770 $— 
1Elimination of non-cash adjustments and changes in assets and liabilities related to consolidated reporting.
2Reclassification of Financial Products’ cash flow activity from investing to operating for receivables that arose from the sale of inventory.
3Elimination of proceeds and payments to/from MP&E and Financial Products.
(more)


25

Caterpillar Inc.
Supplemental Data for Cash Flow
For the Six Months Ended June 30, 2025
(Unaudited)
(Millions of dollars)
Supplemental Consolidating Data
ConsolidatedMachinery, Power & EnergyFinancial
Products		Consolidating
Adjustments
Cash flow from operating activities:
Profit of consolidated and affiliated companies$4,182 $3,824 $358 $— 
Adjustments to reconcile profit to net cash provided by operating activities:
Depreciation and amortization1,094 716 378 — 
Provision (benefit) for deferred income taxes(110)(88)(22)— 
Other398 357 (286)327 1
Changes in assets and liabilities, net of acquisitions and divestitures:
Receivables – trade and other(319)90 5 (414)
1,2
Inventories(1,639)(1,639)— — 
Accounts payable973 930 6 37 1
Accrued expenses(12)(64)52 — 
Accrued wages, salaries and employee benefits(805)(786)(19)— 
Customer advances1,276 1,276 — — 
Other assets – net(90)(133)(3)46 1
Other liabilities – net(537)(621)128 (44)1
Net cash provided by (used for) operating activities4,411 3,862 597 (48)
Cash flow from investing activities:
Capital expenditures – excluding equipment leased to others(1,265)(1,273)(22)30 1
Expenditures for equipment leased to others(608)(14)(597)3 1
Proceeds from disposals of leased assets and property, plant and equipment365 36 362 (33)1
Additions to finance receivables(7,064)— (8,084)1,020 2
Collections of finance receivables6,399 — 7,278 (879)2
Net intercompany purchased receivables— — 93 (93)2
Proceeds from sale of finance receivables18 — 18 — 
Additions to intercompany receivables (original maturities greater than three months)— (1,000)— 1,000 3
Collections of intercompany receivables (original maturities greater than three months)— — 35 (35)3
Investments and acquisitions (net of cash acquired)(21)(21)— — 
Proceeds from sale of businesses and investments (net of cash sold)12 12 — — 
Proceeds from maturities and sale of securities1,328 1,026 302 — 
Investments in securities(618)(278)(340)— 
Other – net(53)(18)(35)— 
Net cash provided by (used for) investing activities(1,507)(1,530)(990)1,013 
Cash flow from financing activities:
Dividends paid(1,336)(1,336)— — 
Common stock issued, and other stock compensation transactions, net(59)(59)— — 
Payments to purchase common stock(4,488)(4,488)— — 
Excise tax paid on purchases of common stock(73)(73)— — 
Proceeds from intercompany borrowings (original maturities greater than three months)— — 1,000 (1,000)3
Payments on intercompany borrowings (original maturities greater than three months)— (35)— 35 3
Proceeds from debt issued (original maturities greater than three months)5,707 1,976 3,731 — 
Payments on debt (original maturities greater than three months)(4,168)(35)(4,133)— 
Short-term borrowings – net (original maturities three months or less)72 — 72 — 
Net cash provided by (used for) financing activities(4,345)(4,050)670 (965)
Effect of exchange rate changes on cash(7)(21)14 — 
Increase (decrease) in cash, cash equivalents and restricted cash(1,448)(1,739)291 — 
Cash, cash equivalents and restricted cash at beginning of period6,896 6,170 726 — 
Cash, cash equivalents and restricted cash at end of period$5,448 $4,431 $1,017 $— 
1Elimination of non-cash adjustments and changes in assets and liabilities related to consolidated reporting.
2Reclassification of Financial Products’ cash flow activity from investing to operating for receivables that arose from the sale of inventory.
3Elimination of proceeds and payments to/from MP&E and Financial Products.
#