Balance Sheet: Assets
Quarterly Data
The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.
Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.
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Caterpillar Inc. pages available for free this week:
- Income Statement
- Cash Flow Statement
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Solvency Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Enterprise Value to EBITDA (EV/EBITDA)
- Dividend Discount Model (DDM)
- Net Profit Margin since 2005
- Price to Earnings (P/E) since 2005
- Price to Book Value (P/BV) since 2005
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Caterpillar Inc., consolidated balance sheet: assets (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
- Cash and cash equivalents
- The cash and cash equivalents show a fluctuating trend with a peak in early 2021, followed by a decline through 2022, a moderate recovery in late 2023, and subsequent variability into 2025. The values suggest periods of liquidity adjustments, possibly due to operating cash flow changes or financing activities.
- Receivables, trade and other
- Trade receivables have generally increased over the observed period, with some fluctuations. Starting at approximately 7.8 billion USD in early 2020, they gradually rose to over 10 billion USD by 2025, indicating growth in sales or extended credit terms.
- Receivables, finance
- Finance receivables remained relatively stable with minor fluctuations around the 9 to 10 billion USD range. This consistency suggests steady installment or leasing activities without substantial changes in credit policy or asset financing volume.
- Prepaid expenses and other current assets
- This item exhibited significant spikes particularly in late 2023, rising sharply from typical levels of around 2.5 to 3 billion USD to above 5 billion USD before retrenching somewhat. Such volatility could be associated with operational changes, prepayments, or accounting adjustments.
- Inventories
- Inventories demonstrated a growing trend with periodic increases, rising from approximately 11.7 billion USD in early 2020 to nearly 19 billion USD by late 2025. This upward trend may reflect higher production, stockpiling for anticipated demand, or supply chain factors influencing inventory levels.
- Current assets
- Current assets showed a general increasing trend through 2023, peaking near 48 billion USD, followed by a decrease in 2024, then increasing again toward the end of the period. This pattern reflects combined effects of changes in cash, receivables, inventory, and other short-term assets.
- Property, plant, and equipment, net
- Net property, plant, and equipment held steady with slight increases, moving from about 12.5 billion USD in 2020 to approximately 14.3 billion USD by 2025. This incremental rise indicates ongoing capital investment and asset maintenance.
- Long-term receivables, trade and other
- Long-term receivables trended with minor variation, generally hovering around 1.1 to 1.6 billion USD. The relative stability points to consistent long-term credit arrangements or payments receivable.
- Long-term receivables, finance
- These receivables showed modest growth, increasing from around 12 billion USD to nearly 14 billion USD over the timeframe, indicating a slight expansion in long-term financing offerings or program growth.
- Noncurrent deferred and refundable income taxes
- Deferred taxes steadily increased from approximately 1.4 billion USD to over 3 billion USD by 2025, which could indicate timing differences in tax recognition or growing taxable temporary differences.
- Intangible assets
- Intangible assets consistently declined from roughly 1.5 billion USD to under 0.3 billion USD, suggesting amortization or derecognition of intangible items over time.
- Goodwill
- Goodwill remained relatively stable, fluctuating modestly around 5.2 to 6.3 billion USD, with some decreases in later years. This stability indicates limited acquisition activity or impairments.
- Other assets
- Other assets showed a gradual increase, rising from about 3.6 billion USD to over 5.3 billion USD, indicating growth in miscellaneous noncurrent assets or investments.
- Noncurrent assets
- Noncurrent assets overall displayed stability with moderate growth, fluctuating around 38 to 44 billion USD, reflecting consistent investment in long-term assets.
- Total assets
- Total assets increased steadily from approximately 75.9 billion USD at the start of 2020 to over 93.7 billion USD by late 2025. This growth is primarily driven by increases in current assets, inventories, and noncurrent assets, indicating asset base expansion.