Balance Sheet: Liabilities and Stockholders’ Equity
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.
Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.
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Caterpillar Inc., consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
US$ in millions
Based on: 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).
- Machinery, Energy & Transportation (current and noncurrent)
- The data for Machinery, Energy & Transportation segment shows sporadic and mostly missing quarterly values for the current category from 2020 to 2025, with minimal reported amounts and no consistent trend. Noncurrent assets in this segment fluctuate significantly, with a general decline from early 2023 onwards, reaching a low point by March 31, 2025. This indicates potential divestitures or depreciation impacting this asset class over time.
- Financial Products (current and noncurrent)
- Financial Products exhibit volatility in both current and noncurrent balances. Current assets peak in December 2021 and December 2022, followed by declines in subsequent quarters. Noncurrent assets also display fluctuations without a consistent growth trend, suggesting active management or revaluation in this segment’s financial position. Peaks in certain quarters may reflect seasonal or cyclical business patterns.
- Short-term borrowings & Long-term debt due within one year
- Short-term borrowings closely mirror Financial Products current values, showing a downward trend beginning in early 2023, though values oscillate notably through the period. Long-term debt due within one year sees fluctuating values with peaks in early 2023 and again in late 2024, indicating rolling maturities and refinancing activities typical of debt management strategy.
- Accounts Payable and Accrued Expenses
- Accounts payable steadily increase through 2020 and 2021, peaking in late 2021, then slightly declining but remaining elevated through 2025. Accrued expenses show a gradual increase over time, particularly accelerating from mid-2022, which could imply rising operational costs or accrued liabilities.
- Accrued Wages, Salaries, and Employee Benefits
- This category evidences a cyclical pattern with significant increases in mid-year quarters, followed by sharp declines in first quarters of subsequent years. This volatility may correlate with payroll cycles, employee bonuses, or seasonal workforce adjustments.
- Customer Advances
- Customer advances exhibit steady growth over the period, nearly doubling from early 2020 to 2025. This increase signals strengthened customer prepayments or deposits, potentially improving working capital but also reflecting higher pre-sale commitments.
- Dividends Payable
- Dividends payable maintain relatively stable values quarter to quarter where data is available, with minor fluctuations. This stability demonstrates consistent dividend policy and cash flow management related to shareholder distributions.
- Other Current Liabilities
- Other current liabilities show a general rising trend from 2020 through mid-2023, followed by a plateau and slight decrease towards early 2025. The initial increase may indicate accrual of miscellaneous operational obligations.
- Current Liabilities Total
- Overall current liabilities increase significantly from 2020 to 2023, peaking in mid-2023, then chestining somewhat toward 2025, reflecting broader growth in short-term obligations which impacts liquidity and working capital positions.
- Long-term Debt Due After One Year
- Long-term debt gradually decreases from early 2023 before rising again near the end of the period, showing cyclical borrowing and repayment activities characteristic of long-term financing structures.
- Liability for Postemployment Benefits
- This liability consistently decreases from 2020 to 2025, indicating possible reductions in postemployment obligations, either through plan changes, benefit payments, or actuarial adjustments.
- Other Noncurrent Liabilities
- Other liabilities remain relatively stable, fluctuating modestly without a clear directional trend, suggesting steady noncurrent commitments.
- Total Liabilities
- Total liabilities rise moderately from 2020 through mid-2023, with some fluctuations thereafter. The highest levels occur around late 2023 to early 2024, implying periods of increased leverage or funding for operational or strategic activities.
- Common Stock and Treasury Stock
- Common stock values fluctuate modestly but decline overall from late 2023 through early 2025. Treasury stock shows a significant and continuous increase in absolute negative value, indicating substantial repurchases of shares, potentially reflecting active capital return or ownership consolidation strategies.
- Profit Employed in the Business
- Profit employed shows a steady upward trajectory from 2020 through 2025, increasing significantly each quarter. This consistent growth suggests improved retained earnings and reinvestment capacity within the business.
- Accumulated Other Comprehensive Loss
- This category fluctuates considerably with increased losses during mid-period years (2021-2022), followed by periods of partial recovery but remaining in a loss position. The volatility suggests exposure to market risks such as currency, pension adjustments, or other comprehensive income components.
- Shareholders’ Equity
- Shareholders’ equity attributable to common shareholders exhibits growth up to late 2022, peaking in early 2023 before declining gradually through early 2025. Total shareholders’ equity follows a similar trend. These patterns might indicate distributions, changes in retained earnings, or market adjustments affecting equity valuations.
- Total Liabilities and Shareholders’ Equity
- This cumulative total experiences steady growth from 2020 to peak around late 2023, followed by declines into 2025, reflecting the combined impact of liability and equity movements on the company’s balance sheet size over time.