Exhibit 99.1
Caterpillar Inc.                                     
3Q 2026 Earnings Release



FOR IMMEDIATE RELEASE
Caterpillar Reports Third-Quarter 2026 Results
Third Quarter
($ in billions except profit per share)20262025
Sales and Revenues$20.7$17.6
Profit Per Share$7.13$4.88
Adjusted Profit Per Share$7.20$4.95
Please see a reconciliation of GAAP to non-GAAP financial measures in the appendix on pages 12 and 13.
●Third-quarter 2026 sales and revenues increased 17% to $20.7 billion
●Third-quarter 2026 profit per share of $7.13; adjusted profit per share of $7.20
●Deployed $2.0 billion of cash for share repurchases and dividends in the third quarter
IRVING, Texas, Oct. 29, 2026 – Caterpillar Inc. (NYSE: CAT) announced third-quarter 2026 results.
“Our third-quarter results reflect the durability of our end markets, with strong order rates and a record backlog,” said Caterpillar Chairman and CEO Joe Creed. “Our team continues to execute our strategic priorities in a dynamic environment, positioning us for a strong year while delivering long-term value for our customers and shareholders.”
Sales and revenues for the third quarter of 2026 were $20.7 billion, a 17% increase compared with $17.6 billion in the third quarter of 2025. The increase was primarily due to higher sales volume of $2.2 billion and favorable price realization of $663 million.
Operating profit margin was 20.4% for the third quarter of 2026, compared with 17.3% for the third quarter of 2025. Adjusted operating profit margin was 20.6% for the third quarter of 2026, compared with 17.5% for the third quarter of 2025. Third-quarter 2026 profit per share was $7.13, compared with third-quarter 2025 profit per share of $4.88. Adjusted profit per share in the third quarter of 2026 was $7.20, compared with third-quarter 2025 adjusted profit per share of $4.95. For the third quarter of 2026 and 2025, adjusted operating profit margin and adjusted profit per share excluded restructuring costs.
For the third quarter of 2026, enterprise operating cash flow was $4.4 billion, and the company ended the third quarter with $7.9 billion of enterprise cash. In the quarter, the company deployed $1.2 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 third quarter of 2025 (at left) and the third 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 third quarter of 2026 were $20.682 billion, an increase of $3.044 billion, or 17%, compared with $17.638 billion in the third quarter of 2025. The increase was primarily due to higher sales volume of $2.2 billion and favorable price realization of $663 million. Higher sales volume was mainly driven by higher sales of equipment to end users.
Sales were higher across the three primary segments.
Sales and Revenues by Segment
(Millions of dollars)Third Quarter 2025Sales
Volume		Price
Realization		CurrencyInter-Segment / OtherThird Quarter 2026$
Change		%
Change
Power & Energy$7,463 $879 $216 $12 $214 $8,784 $1,321 18%
Construction Industries6,760 874 349 2 (2)7,983 1,223 18%
Resource Industries3,999 478 96 40 2 4,615 616 15%
All Other Segment73 5 — — (6)72 (1)(1%)
Corporate Items and Eliminations(1,569)(29)2 4 (208)(1,800)(231)
Machinery, Power & Energy16,726 2,207 663 58 — 19,654 2,928 18%
Financial Products Segment1,076 — — — 101 1,177 101 9%
Corporate Items and Eliminations(164)— — — 15 (149)15 
Financial Products Revenues912 — — — 116 1,028 116 13%
Consolidated Sales and Revenues$17,638 $2,207 $663 $58 $116 $20,682 $3,044 17%
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Sales and Revenues by Geographic Region
North AmericaLatin AmericaEAMEAsia/PacificExternal Sales and RevenuesInter-SegmentTotal Sales and Revenues
(Millions of dollars)$% Chg$% Chg$% Chg$% Chg$% Chg$% Chg$% Chg
Third Quarter 2026
Power & Energy$4,395 26%$435 (12%)$1,580 22%$878 (4%)$7,288 18%$1,496 17%$8,784 18%
Construction Industries4,796 23%825 26%1,366 12%925 2%7,912 18%71 (3%)7,983 18%
Resource Industries2,180 27%759 25%674 10%916 (6%)4,529 16%86 2%4,615 15%
All Other Segment9 80%— —%3 50%3 —%15 50%57 (10%)72 (1%)
Corporate Items and Eliminations(81)2 (4)(7)(90)(1,710)(1,800)
Machinery, Power & Energy11,299 25%2,021 15%3,619 16%2,715 (3%)19,654 18%— —%19,654 18%
Financial Products Segment780 8%132 12%142 9%123 16%1,177 9%— —%1,177 9%
Corporate Items and Eliminations(62)(29)(33)(25)(149)— (149)
Financial Products Revenues718 15%103 12%109 2%98 13%1,028 13%— —%1,028 13%
Consolidated Sales and Revenues$12,017 24%$2,124 15%$3,728 15%$2,813 (2%)$20,682 17%$— —%$20,682 17%
Third Quarter 2025
Power & Energy$3,478 $496 $1,296 $911 $6,181 $1,282 $7,463 
Construction Industries3,912 654 1,217 904 6,687 73 6,760 
Resource Industries1,721 605 612 977 3,915 84 3,999 
All Other Segment5 — 2 3 10 63 73 
Corporate Items and Eliminations(61)3 (3)(6)(67)(1,502)(1,569)
Machinery, Power & Energy9,055 1,758 3,124 2,789 16,726 — 16,726 
Financial Products Segment722 118 130 106 1,076 — 1,076 
Corporate Items and Eliminations(96)(26)(23)(19)(164)— (164)
Financial Products Revenues626 92 107 87 912 — 912 
Consolidated Sales and Revenues$9,681 $1,850 $3,231 $2,876 $17,638 $— $17,638 

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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 third quarter of 2025 (at left) and the third 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 third quarter of 2026 was $4.214 billion, an increase of $1.162 billion, or 38%, compared with $3.052 billion in the third quarter of 2025. The increase was primarily due to the profit impact of higher sales volume.
Operating profit in the third quarter of 2026 included $128 million of International Emergency Economic Power Act (IEEPA) tariff recoveries.
Profit (Loss) by Segment
(Millions of dollars)Third Quarter 2026Third Quarter 2025$
Change
%
 Change
Power & Energy$2,143 $1,633 $510 31%
Construction Industries1,831 1,377 454 33%
Resource Industries622 544 78 14%
All Other Segment(2)(6)4 67%
Corporate Items and Eliminations(450)(546)96 
Machinery, Power & Energy4,144 3,002 1,142 38%
Financial Products Segment264 241 23 10%
Corporate Items and Eliminations(3)(38)35 
Financial Products261 203 58 29%
Consolidating Adjustments(191)(153)(38)
Consolidated Operating Profit$4,214 $3,052 $1,162 38%




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Other Profit/Loss and Tax Items
•Other income (expense) in the third quarter of 2026 was income of $135 million, compared with income of $208 million in the third quarter of 2025. The change was primarily driven by unfavorable impacts from total return swap contracts, partially offset by favorable impacts from commodity hedges.
•The effective tax rate for the third quarter of 2026 was 22.9% compared to 26.7% for the third quarter of 2025. Excluding the discrete items discussed below, the global estimated annual effective tax rate was 23.0% for the third quarter of 2026, compared with 24.0% for the third quarter of 2025.
A discrete tax benefit of $3 million was recorded in the third quarter of 2026, compared with a $10 million benefit in the third 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 the third quarter of 2025, the company also recorded a $54 million charge for an increase in the global estimated annual effective tax rate through the first six months and a discrete tax charge of $41 million to reflect changes in estimates related to prior years.
Please see a reconciliation of GAAP to non-GAAP financial measures in the appendix on pages 12 and 13.
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POWER & ENERGY
(Millions of dollars)
Segment Sales
Third Quarter 2025Sales VolumePrice RealizationCurrencyInter-SegmentThird Quarter 2026$
 Change		%
 Change
Total Sales$7,463 $879 $216 $12 $214 $8,784 $1,321 18%
Sales by Application
Third Quarter 2026Third Quarter 2025$
Change		%
Change
Power Generation$3,421 $2,634 $787 30%
Oil and Gas2,236 1,979 257 13%
Industrial1,631 1,568 63 4%
External Sales7,288 6,181 1,107 18%
Inter-segment1,496 1,282 214 17%
Total Sales$8,784 $7,463 $1,321 18%
Segment Profit
Third Quarter 2026Third Quarter 2025
 
Change
%
Change
Segment Profit$2,143 $1,633 $510 31%
Segment Profit Margin24.4 %21.9 %2.5  pts
Power & Energy’s total sales were $8.784 billion in the third quarter of 2026, an increase of $1.321 billion, or 18%, compared with $7.463 billion in the third quarter of 2025. The increase was primarily due to higher sales volume of $879 million and favorable price realization of $216 million.
•Power Generation – Sales increased mainly in turbines and turbine-related services and in large reciprocating engines, primarily in data center applications.
•Oil and Gas – Sales increased primarily in reciprocating engine aftermarket parts and in reciprocating engines used in gas compression applications. Sales also increased in turbines and turbine-related services.
•Industrial – Sales increased mainly in North America.
Power & Energy’s segment profit was $2.143 billion in the third quarter of 2026, an increase of $510 million, or 31%, compared with $1.633 billion in the third quarter of 2025. The increase was mainly due to the profit impact of higher sales volume.

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CONSTRUCTION INDUSTRIES
(Millions of dollars)
Segment Sales
Third Quarter 2025Sales VolumePrice RealizationCurrencyInter-SegmentThird Quarter 2026$
 Change		%
 Change
Total Sales$6,760 $874 $349 $2 $(2)$7,983 $1,223 18%
Sales by Geographic Region
Third Quarter 2026Third Quarter 2025$
Change		%
Change
North America$4,796 $3,912 $884 23%
Latin America825 654 171 26%
EAME1,366 1,217 149 12%
Asia/Pacific925 904 21 2%
External Sales7,912 6,687 1,225 18%
Inter-segment71 73 (2)(3%)
Total Sales$7,983 $6,760 $1,223 18%
Segment Profit
Third Quarter 2026Third Quarter 2025
 
Change
%
Change
Segment Profit$1,831 $1,377 $454 33%
Segment Profit Margin22.9 %20.4 %2.5  pts
Construction Industries’ total sales were $7.983 billion in the third quarter of 2026, an increase of $1.223 billion, or 18%, compared with $6.760 billion in the third quarter of 2025. The increase in sales was mainly due to higher sales volume of $874 million and favorable price realization of $349 million. Higher sales volume was primarily driven by higher sales of equipment to end users.
•In North America, sales increased due to higher sales volume and favorable price realization. Higher sales volume was mainly driven by higher sales of equipment to end users.
•Sales increased in Latin America mainly due to higher sales volume. Higher sales volume was primarily driven by the impact from changes in dealer inventories.
•In EAME, sales increased primarily due to favorable price realization and higher sales volume. Higher sales volume was mainly driven by higher sales of equipment to end users.
•Sales increased in Asia/Pacific due to higher sales volume, partially offset by unfavorable price realization and unfavorable currency impacts primarily related to the Japanese yen. Higher sales volume was mainly driven by the impact from changes in dealer inventories.
Construction Industries’ segment profit was $1.831 billion in the third quarter of 2026, an increase of $454 million, or 33%, compared with $1.377 billion in the third quarter of 2025. The increase was primarily due to the profit impact of higher sales volume of $356 million and favorable price realization of $349 million, partially offset by unfavorable manufacturing costs of $252 million. Unfavorable manufacturing costs included the impact of higher freight.
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RESOURCE INDUSTRIES
(Millions of dollars)
Segment Sales
Third Quarter 2025Sales VolumePrice RealizationCurrencyInter-SegmentThird Quarter 2026$
 Change		%
 Change
Total Sales$3,999 $478 $96 $40 $2 $4,615 $616 15%
Sales by Industry
Third Quarter 2026Third Quarter 2025$
Change		%
Change
Mining, HC and Q&A*$3,697 $3,036 $661 22%
Rail832 879 (47)(5%)
External Sales4,529 3,915 614 16%
Inter-segment86 84 2 2%
Total Sales$4,615 $3,999 $616 15%
*Heavy Construction and Quarry & Aggregates (HC and Q&A)
Segment Profit
Third Quarter 2026Third Quarter 2025
 
Change
%
Change
Segment Profit$622 $544 $78 14%
Segment Profit Margin13.5 %13.6 %(0.1  pts)
Resource Industries’ total sales were $4.615 billion in the third quarter of 2026, an increase of $616 million, or 15%, compared with $3.999 billion in the third quarter of 2025. The increase was primarily due to higher sales volume of $478 million and favorable price realization of $96 million.
•Mining, Heavy Construction and Quarry & Aggregates – Sales increased primarily due to the impact from changes in dealer inventories.
•Rail – Sales decreased primarily due to lower international locomotive deliveries, partially offset by an increase in rail services.
Resource Industries’ segment profit was $622 million in the third quarter of 2026, an increase of $78 million, or 14%, compared with $544 million in the third quarter of 2025. The increase was mainly due to the profit impact of higher sales volume of $181 million and favorable price realization of $96 million, partially offset by unfavorable manufacturing costs of $208 million. Unfavorable manufacturing costs primarily reflected higher material costs, including tariffs.

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FINANCIAL PRODUCTS SEGMENT
(Millions of dollars)
Revenues by Geographic Region
Third Quarter 2026Third Quarter 2025$
Change		%
Change
North America$780 $722 $58 8%
Latin America132 118 14 12%
EAME142 130 12 9%
Asia/Pacific123 106 17 16%
Total Revenues$1,177 $1,076 $101 9%
Segment Profit
Third Quarter 2026Third Quarter 2025
 
Change
%
Change
Segment Profit$264 $241 $23 10%
Financial Products’ segment revenues were $1.177 billion in the third quarter of 2026, an increase of $101 million, or 9%, compared with $1.076 billion in the third quarter of 2025. The increase was primarily due to a favorable impact from higher average earning assets of $125 million across all regions, partially offset by an unfavorable impact from lower average financing rates of $38 million across all regions except Asia/Pacific.
Financial Products’ segment profit was $264 million in the third quarter of 2026, an increase of $23 million, or 10%, compared with $241 million in the third quarter of 2025. The increase was mainly due to a favorable impact from higher average earning assets of $52 million, partially offset by higher provision for credit losses at Cat Financial of $34 million.
At the end of the third quarter of 2026, past dues at Cat Financial were 1.31%, compared with 1.47% at the end of the third quarter of 2025. Write-offs, net of recoveries, were $28 million for the third quarter of 2026 compared with $40 million for the third quarter of 2025. As of September 30, 2026, Cat Financial's allowance for credit losses totaled $332 million, or 0.91% of finance receivables, compared with $294 million, or 0.84% of finance receivables at June 30, 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 $453 million in the third quarter of 2026, a decrease of $131 million from the third quarter of 2025. This decrease was primarily due to a favorable change in fair value adjustments related to deferred compensation plans.
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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 Thursday, Oct. 29, 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 Thursday, Oct. 29, 2026, to discuss its 2026 third-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 one significant item in order for the company’s results to be meaningful to readers. This item consists of (i) 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 September 30, 2026 - U.S. GAAP
$4,214 20.4 %$4,220 $968 $3,287 $7.13 
Restructuring costs41 0.2 %41 9 32 0.07 
Three Months Ended September 30, 2026 - Adjusted
$4,255 20.6 %$4,261 $977 $3,319 $7.20 
Three Months Ended September 30, 2025 - U.S. GAAP
$3,052 17.3 %$3,127 $836 $2,300 $4.88 
Restructuring costs37 0.2 %37 9 28 0.07
Three Months Ended September 30, 2025 - Adjusted
$3,089 17.5 %$3,164 $845 $2,328 $4.95 





















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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 September 30, 2026 and 2025, these items consist of (i) the settlement of stock-based compensation awards with associated tax deductions in excess of cumulative U.S. GAAP compensation expense, (ii) the increase in the annual effective tax rate in 2025 and (iii) the impact of changes in estimates related to prior years in 2025. 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 September 30, 2026 - U.S. GAAP
$4,220 968 22.9 %
Excess stock-based compensation— 3 
Annual effective tax rate, excluding discrete items$4,220 $971 23.0 %
Excess stock-based compensation— (3)
Restructuring costs41 9 
Three Months Ended September 30, 2026 - Adjusted
$4,261 $977 
Three Months Ended September 30, 2025 - U.S. GAAP
$3,127 $836 26.7 %
Increase in annual effective tax rate— (54)
Changes in estimates related to prior years— (41)
Excess stock-based compensation— 10 
Annual effective tax rate, excluding discrete items$3,127 $751 24.0 %
Increase in annual effective tax rate— 54 
Changes in estimates related to prior years— 41 
Excess stock-based compensation— (10)
Restructuring costs37 9 
Three Months Ended September 30, 2025 - Adjusted
$3,164 $845 



















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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 September 30,Nine Months Ended September 30,
2026202520262025
Sales and revenues:
Sales of Machinery, Power & Energy$19,654 $16,726 $55,708 $45,778 
Revenues of Financial Products1,028 912 2,932 2,678 
Total sales and revenues20,682 17,638 58,640 48,456 
Operating costs:
Cost of goods sold13,332 11,673 37,419 31,445 
Selling, general and administrative expenses1,797 1,822 5,631 5,109 
Research and development expenses596 555 1,749 1,586 
Interest expense of Financial Products384 346 1,091 1,008 
Other operating (income) expenses359 190 1,156 817 
Total operating costs16,468 14,586 47,046 39,965 
Operating profit4,214 3,052 11,594 8,491 
Interest expense excluding Financial Products129 133 398 375 
Other income (expense)135 208 793 399 
Consolidated profit before taxes4,220 3,127 11,989 8,515 
Provision (benefit) for income taxes968 836 2,693 2,056 
Profit of consolidated companies3,252 2,291 9,296 6,459 
Equity in profit (loss) of unconsolidated affiliated companies34 8 131 22 
Profit of consolidated and affiliated companies3,286 2,299 9,427 6,481 
Less: Profit (loss) attributable to noncontrolling interests(1)(1)(2)(1)
Profit 1
$3,287 $2,300 $9,429 $6,482 
Profit per common share$7.16 $4.91 $20.45 $13.76 
Profit per common share — diluted 2
$7.13 $4.88 $20.36 $13.69 
Weighted-average common shares outstanding (millions)
– Basic459.1 468.6 461.0 471.3 
– Diluted 2
460.9 470.8 463.2 473.4 
1Profit attributable to common shareholders.
2Diluted by assumed exercise of stock-based compensation awards using the treasury stock method.
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Caterpillar Inc.
Condensed Consolidated Statement of Financial Position
(Unaudited)
(Millions of dollars)
September 30,
2026		December 31,
2025
Assets
Current assets:
Cash and cash equivalents$7,929 $9,980 
Receivables – trade and other13,440 10,920 
Receivables – finance11,051 10,649 
Prepaid expenses and other current assets3,200 2,801 
Inventories22,214 18,135 
Total current assets57,834 52,485 
Property, plant and equipment – net16,011 15,140 
Long-term receivables – trade and other3,348 2,142 
Long-term receivables – finance14,402 14,272 
Noncurrent deferred and refundable income taxes2,235 2,882 
Intangible assets409 241 
Goodwill5,905 5,321 
Other assets6,699 6,102 
Total assets$106,843 $98,585 
Liabilities
Current liabilities:
Short-term borrowings:
-- Financial Products$4,855 $5,514 
Accounts payable10,573 8,968 
Accrued expenses6,038 5,587 
Accrued wages, salaries and employee benefits2,663 2,554 
Customer advances5,329 3,314 
Dividends payable— 703 
Other current liabilities3,028 2,798 
Long-term debt due within one year:
-- Machinery, Power & Energy36 35 
-- Financial Products8,144 7,085 
Total current liabilities40,666 36,558 
Long-term debt due after one year:
-- Machinery, Power & Energy10,614 10,678 
-- Financial Products21,552 20,018 
Liability for postemployment benefits3,610 3,838 
Other liabilities8,919 6,175 
Total liabilities85,361 77,267 
Shareholders’ equity
Common stock6,658 7,181 
Treasury stock(56,702)(49,539)
Profit employed in the business73,428 65,448 
Accumulated other comprehensive income (loss)(1,901)(1,772)
Noncontrolling interests(1)— 
Total shareholders’ equity21,482 21,318 
Total liabilities and shareholders’ equity$106,843 $98,585 

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17

Caterpillar Inc.
Condensed Consolidated Statement of Cash Flow
(Unaudited)
(Millions of dollars)
Nine Months Ended September 30,
20262025
Cash flow from operating activities:
Profit of consolidated and affiliated companies$9,427 $6,481 
Adjustments to reconcile profit to net cash provided by operating activities:
Depreciation and amortization1,826 1,664 
Provision (benefit) for deferred income taxes630 300 
(Gain) loss on divestiture139 — 
Other249 509 
Changes in assets and liabilities, net of acquisitions and divestitures:
Receivables – trade and other(3,761)(788)
Inventories(4,118)(2,015)
Accounts payable1,752 1,086 
Accrued expenses354 51 
Accrued wages, salaries and employee benefits107 (296)
Customer advances4,002 1,649 
Other assets – net(251)(138)
Other liabilities – net237 (355)
Net cash provided by (used for) operating activities10,593 8,148 
Cash flow from investing activities:
Capital expenditures – excluding equipment leased to others(2,012)(1,923)
Expenditures for equipment leased to others(1,214)(1,021)
Proceeds from disposals of leased assets and property, plant and equipment773 544 
Additions to finance receivables(13,123)(10,964)
Collections of finance receivables12,149 9,890 
Proceeds from sale of finance receivables56 26 
Investments and acquisitions (net of cash acquired)(893)(26)
Proceeds from sale of businesses and investments (net of cash sold)(92)12 
Proceeds from maturities and sale of securities1,303 1,945 
Investments in securities(1,872)(1,291)
Other – net170 (19)
Net cash provided by (used for) investing activities(4,755)(2,827)
Cash flow from financing activities:
Dividends paid(2,148)(2,043)
Common stock issued, and other stock compensation transactions, net(131)(39)
Payments to purchase common stock(7,745)(4,850)
Excise tax paid on purchases of common stock(49)(73)
Proceeds from debt issued (original maturities greater than three months)10,490 8,454 
Payments on debt (original maturities greater than three months)(7,495)(6,205)
Short-term borrowings – net (original maturities three months or less)(748)106 
Net cash provided by (used for) financing activities(7,826)(4,650)
Effect of exchange rate changes on cash(63)(23)
Increase (decrease) in cash, cash equivalents and restricted cash(2,051)648 
Cash, cash equivalents and restricted cash at beginning of period9,986 6,896 
Cash, cash equivalents and restricted cash at end of period$7,935 $7,544 
Cash equivalents primarily represent short-term, highly liquid investments with original maturities of generally three months or less.

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18

Caterpillar Inc.
Supplemental Data for Results of Operations
For the Three Months Ended September 30, 2026
(Unaudited)
(Millions of dollars)
Supplemental Consolidating Data
ConsolidatedMachinery, Power & EnergyFinancial
Products		Consolidating
Adjustments
Sales and revenues:
Sales of Machinery, Power & Energy$19,654 $19,654 $— $— 
Revenues of Financial Products1,028 — 1,261 (233)1
Total sales and revenues20,682 19,654 1,261 (233)
Operating costs:
Cost of goods sold13,332 13,332 — — 
Selling, general and administrative expenses1,797 1,571 245 (19)2
Research and development expenses596 596 — — 
Interest expense of Financial Products384 — 397 (13)2
Other operating (income) expenses359 11 358 (10)2
Total operating costs16,468 15,510 1,000 (42)
Operating profit4,214 4,144 261 (191)
Interest expense excluding Financial Products129 135 — (6)3
Other income (expense)135 (77)27 185 4
Consolidated profit before taxes4,220 3,932 288 — 
Provision (benefit) for income taxes968 899 69 — 
Profit of consolidated companies3,252 3,033 219 — 
Equity in profit (loss) of unconsolidated affiliated companies34 34 — — 
Profit of consolidated and affiliated companies3,286 3,067 219 — 
Less: Profit (loss) attributable to noncontrolling interests(1)(1)— — 
Profit 5
$3,287 $3,068 $219 $— 
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.





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19

Caterpillar Inc.
Supplemental Data for Results of Operations
For the Three Months Ended September 30, 2025
(Unaudited)
(Millions of dollars)
Supplemental Consolidating Data
ConsolidatedMachinery, Power & EnergyFinancial
Products		Consolidating
Adjustments
Sales and revenues:
Sales of Machinery, Power & Energy$16,726 $16,726 $— $— 
Revenues of Financial Products912 — 1,115 (203)1
Total sales and revenues17,638 16,726 1,115 (203)
Operating costs:
Cost of goods sold11,673 11,675 — (2)2
Selling, general and administrative expenses1,822 1,608 218 (4)2
Research and development expenses555 555 — — 
Interest expense of Financial Products346 — 358 (12)
Other operating (income) expenses190 (114)336 (32)2
Total operating costs14,586 13,724 912 (50)
Operating profit3,052 3,002 203 (153)
Interest expense excluding Financial Products133 136 — (3)
Other income (expense)208 25 33 150 3
Consolidated profit before taxes3,127 2,891 236 — 
Provision (benefit) for income taxes836 773 63 — 
Profit of consolidated companies2,291 2,118 173 — 
Equity in profit (loss) of unconsolidated affiliated companies8 8 — — 
Profit of consolidated and affiliated companies2,299 2,126 173 — 
Less: Profit (loss) attributable to noncontrolling interests(1)(1)— — 
Profit 4
$2,300 $2,127 $173 $— 
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 Nine Months Ended September 30, 2026
(Unaudited)
(Millions of dollars)
Supplemental Consolidating Data
ConsolidatedMachinery, Power & EnergyFinancial
Products		Consolidating
Adjustments
Sales and revenues:
Sales of Machinery, Power & Energy$55,708 $55,708 $— $— 
Revenues of Financial Products2,932 — 3,592 (660)1
Total sales and revenues58,640 55,708 3,592 (660)
Operating costs:
Cost of goods sold37,419 37,423 — (4)2
Selling, general and administrative expenses5,631 4,980 690 (39)2
Research and development expenses1,749 1,749 — — 
Interest expense of Financial Products1,091 — 1,127 (36)2
Other operating (income) expenses1,156 199 1,014 (57)2
Total operating costs47,046 44,351 2,831 (136)
Operating profit11,594 11,357 761 (524)
Interest expense excluding Financial Products398 416 — (18)3
Other income (expense)793 185 102 506 4
Consolidated profit before taxes11,989 11,126 863 — 
Provision (benefit) for income taxes2,693 2,469 224 — 
Profit of consolidated companies9,296 8,657 639 — 
Equity in profit (loss) of unconsolidated affiliated companies131 131 — — 
Profit of consolidated and affiliated companies9,427 8,788 639 — 
Less: Profit (loss) attributable to noncontrolling interests(2)(2)— — 
Profit 5
$9,429 $8,790 $639 $— 
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.



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21

Caterpillar Inc.
Supplemental Data for Results of Operations
For the Nine Months Ended September 30, 2025
(Unaudited)
(Millions of dollars)
Supplemental Consolidating Data
ConsolidatedMachinery, Power & EnergyFinancial
Products		Consolidating
Adjustments
Sales and revenues:
Sales of Machinery, Power & Energy$45,778 $45,778 $— $— 
Revenues of Financial Products2,678 — 3,244 (566)1
Total sales and revenues48,456 45,778 3,244 (566)
Operating costs:
Cost of goods sold31,445 31,451 — (6)2
Selling, general and administrative expenses5,109 4,513 623 (27)2
Research and development expenses1,586 1,586 — — 
Interest expense of Financial Products1,008 — 1,026 (18)
Other operating (income) expenses817 (84)979 (78)2
Total operating costs39,965 37,466 2,628 (129)
Operating profit8,491 8,312 616 (437)
Interest expense excluding Financial Products375 385 — (10)
Other income (expense)399 (121)93 427 3
Consolidated profit before taxes8,515 7,806 709 — 
Provision (benefit) for income taxes2,056 1,878 178 — 
Profit of consolidated companies6,459 5,928 531 — 
Equity in profit (loss) of unconsolidated affiliated companies22 22 — — 
Profit of consolidated and affiliated companies6,481 5,950 531 — 
Less: Profit (loss) attributable to noncontrolling interests(1)(2)1 — 
Profit 4
$6,482 $5,952 $530 $— 
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 September 30, 2026
(Unaudited)
(Millions of dollars)
Supplemental Consolidating Data
ConsolidatedMachinery, Power & EnergyFinancial
Products		Consolidating
Adjustments
Assets
Current assets:
Cash and cash equivalents$7,929 $7,102 $827 $— 
Receivables – trade and other13,440 5,001 497 7,942 
1,2
Receivables – finance11,051 — 19,679 (8,628)2
Prepaid expenses and other current assets3,200 2,866 405 (71)3
Inventories22,214 22,214 — — 
Total current assets57,834 37,183 21,408 (757)
Property, plant and equipment – net16,011 11,728 4,237 46 4
Long-term receivables – trade and other3,348 2,612 95 641 
1,2
Long-term receivables – finance14,402 — 16,338 (1,936)2
Noncurrent deferred and refundable income taxes2,235 2,512 139 (416)5
Intangible assets409 409 — — 
Goodwill5,905 5,905 — — 
Other assets6,699 4,975 2,812 (1,088)6
Total assets$106,843 $65,324 $45,029 $(3,510)
Liabilities
Current liabilities:
Short-term borrowings$4,855 $— $4,855 $— 
Short-term borrowings with consolidated companies— — 500 (500)9
Accounts payable10,573 10,489 266 (182)7
Accrued expenses6,038 5,322 716 — 
Accrued wages, salaries and employee benefits2,663 2,598 65 — 
Customer advances5,329 5,326 3 — 
Dividends payable— — — — 
Other current liabilities3,028 2,315 803 (90)
5,8,9
Long-term debt due within one year8,180 36 8,144 
Total current liabilities40,666 26,086 15,352 (772)
Long-term debt due after one year32,166 10,913 22,552 (1,299)9
Liability for postemployment benefits3,610 3,609 1 — 
Other liabilities8,919 7,722 1,693 (496)5
Total liabilities85,361 48,330 39,598 (2,567)
Shareholders’ equity
Common stock6,658 6,658 905 (905)10
Treasury stock(56,702)(56,702)— — 
Profit employed in the business73,428 67,958 5,438 32 10
Accumulated other comprehensive income (loss)(1,901)(921)(980)— 
Noncontrolling interests(1)1 68 (70)10
Total shareholders’ equity21,482 16,994 5,431 (943)
Total liabilities and shareholders’ equity$106,843 $65,324 $45,029 $(3,510)
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.
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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.
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24

Caterpillar Inc.
Supplemental Data for Cash Flow
For the Nine Months Ended September 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$9,427 $8,788 $639 $— 
Adjustments to reconcile profit to net cash provided by operating activities:
Depreciation and amortization1,826 1,225 601 — 
Provision (benefit) for deferred income taxes630 684 (54)— 
(Gain) loss on divestiture139 139 — — 
Other249 158 (429)520 1
Changes in assets and liabilities, net of acquisitions and divestitures:
Receivables – trade and other(3,761)(1,146)113 (2,728)
1,2
Inventories(4,118)(4,114)— (4)1
Accounts payable1,752 1,635 11 106 1
Accrued expenses354 412 (58)— 
Accrued wages, salaries and employee benefits107 101 6 — 
Customer advances4,002 4,002 — — 
Other assets – net(251)(317)32 34 1
Other liabilities – net237 (33)276 (6)1
Net cash provided by (used for) operating activities10,593 11,534 1,137 (2,078)
Cash flow from investing activities:
Capital expenditures – excluding equipment leased to others(2,012)(1,993)(22)3 1
Expenditures for equipment leased to others(1,214)(16)(1,207)9 1
Proceeds from disposals of leased assets and property, plant and equipment773 55 725 (7)1
Additions to finance receivables(13,123)— (16,089)2,966 2
Collections of finance receivables12,149 — 13,841 (1,692)2
Net intercompany purchased receivables— — (799)799 2
Proceeds from sale of finance receivables56 — 56 — 
Collections of intercompany receivables (original maturities greater than three months)— — 68 (68)3
Net intercompany borrowings (original maturities three months or less)— (500)— 500 3
Investments and acquisitions (net of cash acquired)(893)(893)— — 
Proceeds from sale of businesses and investments (net of cash sold)(92)(92)— — 
Proceeds from maturities and sale of securities1,303 590 713 — 
Investments in securities(1,872)(915)(957)— 
Other – net170 242 (72)— 
Net cash provided by (used for) investing activities(4,755)(3,522)(3,743)2,510 
Cash flow from financing activities:
Dividends paid(2,148)(2,148)— — 
Common stock issued, and other stock compensation transactions, net(131)(131)— — 
Payments to purchase common stock(7,745)(7,745)— — 
Excise tax paid on purchases of common stock(49)(49)— — 
Payments on intercompany borrowings (original maturities greater than three months)— (68)— 68 3
Net intercompany borrowings (original maturities three months or less)— — 500 (500)3
Proceeds from debt issued (original maturities greater than three months)10,490 — 10,490 — 
Payments on debt (original maturities greater than three months)(7,495)(30)(7,465)— 
Short-term borrowings – net (original maturities three months or less)(748)— (748)— 
Net cash provided by (used for) financing activities(7,826)(10,171)2,777 (432)
Effect of exchange rate changes on cash(63)(71)8 — 
Increase (decrease) in cash, cash equivalents and restricted cash(2,051)(2,230)179 — 
Cash, cash equivalents and restricted cash at beginning of period9,986 9,336 650 — 
Cash, cash equivalents and restricted cash at end of period$7,935 $7,106 $829 $— 
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 Nine Months Ended September 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$6,481 $5,950 $531 $— 
Adjustments to reconcile profit to net cash provided by operating activities:
Depreciation and amortization1,664 1,096 568 — 
Provision (benefit) for deferred income taxes300 308 (8)— 
Other509 431 (412)490 1
Changes in assets and liabilities, net of acquisitions and divestitures:
Receivables – trade and other(788)89 102 (979)
1,2
Inventories(2,015)(2,012)— (3)1
Accounts payable1,086 1,051 44 (9)1
Accrued expenses51 161 (110)— 
Accrued wages, salaries and employee benefits(296)(284)(12)— 
Customer advances1,649 1,649 — — 
Other assets – net(138)(219)15 66 1
Other liabilities – net(355)(475)176 (56)1
Net cash provided by (used for) operating activities8,148 7,745 894 (491)
Cash flow from investing activities:
Capital expenditures – excluding equipment leased to others(1,923)(1,920)(33)30 1
Expenditures for equipment leased to others(1,021)(24)(1,004)7 1
Proceeds from disposals of leased assets and property, plant and equipment544 54 524 (34)1
Additions to finance receivables(10,964)— (12,668)1,704 2
Collections of finance receivables9,890 — 11,347 (1,457)2
Net intercompany purchased receivables— — (241)241 2
Proceeds from sale of finance receivables26 — 26 — 
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)— — 56 (56)3
Investments and acquisitions (net of cash acquired)(26)(26)— — 
Proceeds from sale of businesses and investments (net of cash sold)12 12 — — 
Proceeds from maturities and sale of securities1,945 1,259 686 — 
Investments in securities(1,291)(510)(781)— 
Other – net(19)43 (62)— 
Net cash provided by (used for) investing activities(2,827)(2,112)(2,150)1,435 
Cash flow from financing activities:
Dividends paid(2,043)(2,043)— — 
Common stock issued, and other stock compensation transactions, net(39)(39)— — 
Payments to purchase common stock(4,850)(4,850)— — 
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)— (56)— 56 3
Proceeds from debt issued (original maturities greater than three months)8,454 1,976 6,478 — 
Payments on debt (original maturities greater than three months)(6,205)(43)(6,162)— 
Short-term borrowings – net (original maturities three months or less)106 — 106 — 
Net cash provided by (used for) financing activities(4,650)(5,128)1,422 (944)
Effect of exchange rate changes on cash(23)(39)16 — 
Increase (decrease) in cash, cash equivalents and restricted cash648 466 182 — 
Cash, cash equivalents and restricted cash at beginning of period6,896 6,170 726 — 
Cash, cash equivalents and restricted cash at end of period$7,544 $6,636 $908 $— 
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.
#