Cash Flow Statement

The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

Caterpillar Inc., consolidated cash flow statement

US$ in millions

12 months ended:	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Profit of consolidated and affiliated companies	10,788)	10,332)	6,704)	6,493)	3,003)
Depreciation and amortization	2,153)	2,144)	2,219)	2,352)	2,432)
Actuarial (gain) loss on pension and postretirement benefits	(154)	(97)	(606)	(833)	383)
Benefit for deferred income taxes	(621)	(592)	(377)	(383)	(74)
Loss on divestiture	164)	572)	—)	—)	—)
Goodwill impairment charge	—)	—)	925)	—)	—)
Other	564)	375)	701)	216)	1,000)
Receivables, trade and other	(160)	(437)	(220)	(1,259)	1,442)
Inventories	(414)	(364)	(2,589)	(2,586)	(34)
Accounts payable	(282)	(754)	798)	2,041)	98)
Accrued expenses	191)	796)	317)	196)	(366)
Accrued wages, salaries and employee benefits	(363)	486)	90)	1,107)	(544)
Customer advances	370)	80)	768)	34)	(126)
Other assets, net	(97)	(95)	(210)	(97)	(201)
Other liabilities, net	(104)	439)	(754)	(83)	(686)
Changes in assets and liabilities, net of acquisitions and divestitures	(859)	151)	(1,800)	(647)	(417)
Adjustments to reconcile profit to net cash provided by operating activities	1,247)	2,553)	1,062)	705)	3,324)
Net cash provided by operating activities	12,035)	12,885)	7,766)	7,198)	6,327)
Capital expenditures, excluding equipment leased to others	(1,988)	(1,597)	(1,296)	(1,093)	(978)
Expenditures for equipment leased to others	(1,227)	(1,495)	(1,303)	(1,379)	(1,137)
Proceeds from disposals of leased assets and property, plant and equipment	722)	781)	830)	1,265)	772)
Additions to finance receivables	(15,409)	(15,161)	(13,239)	(13,002)	(12,385)
Collections of finance receivables	13,608)	14,034)	13,177)	12,430)	12,646)
Proceeds from sale of finance receivables	83)	63)	57)	51)	42)
Investments and acquisitions, net of cash acquired	(34)	(75)	(88)	(490)	(111)
Proceeds from sale of businesses and investments, net of cash sold	(61)	(4)	1)	36)	25)
Proceeds from maturities and sale of securities	3,155)	1,891)	2,383)	785)	345)
Investments in securities	(1,495)	(4,405)	(3,077)	(1,766)	(638)
Other, net	193)	97)	14)	79)	(66)
Net cash used for investing activities	(2,453)	(5,871)	(2,541)	(3,084)	(1,485)
Dividends paid	(2,646)	(2,563)	(2,440)	(2,332)	(2,243)
Common stock issued, including treasury shares reissued	20)	12)	51)	135)	229)
Payments to purchase common stock	(7,697)	(4,975)	(4,230)	(2,668)	(1,130)
Excise tax paid on purchases of common stock	(40)	—)	—)	—)	—)
Machinery, Energy & Transportation	—)	—)	—)	494)	1,991)
Financial Products	10,283)	8,257)	6,674)	6,495)	8,440)
Proceeds from debt issued, original maturities greater than three months	10,283)	8,257)	6,674)	6,989)	10,431)
Machinery, Energy & Transportation	(1,032)	(106)	(25)	(1,919)	(26)
Financial Products	(8,284)	(6,212)	(7,703)	(7,877)	(8,211)
Payments on debt, original maturities greater than three months	(9,316)	(6,318)	(7,728)	(9,796)	(8,237)
Short-term borrowings, net, original maturities three months or less	(168)	(1,345)	402)	3,488)	(2,804)
Other, net	(1)	—)	(10)	(4)	(1)
Net cash used for financing activities	(9,565)	(6,932)	(7,281)	(4,188)	(3,755)
Effect of exchange rate changes on cash	(106)	(110)	(194)	(29)	(13)
Increase (decrease) in cash, cash equivalents and restricted cash	(89)	(28)	(2,250)	(103)	1,074)
Cash, cash equivalents and restricted cash at beginning of period	6,985)	7,013)	9,263)	9,366)	8,292)
Cash, cash equivalents and restricted cash at end of period	6,896)	6,985)	7,013)	9,263)	9,366)

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

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Cash flow statement item	Description	The company
Net cash provided by operating activities	Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities.	Caterpillar Inc. net cash provided by operating activities increased from 2022 to 2023 but then slightly decreased from 2023 to 2024.
Net cash used for investing activities	Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets.	Caterpillar Inc. net cash used for investing activities decreased from 2022 to 2023 but then increased from 2023 to 2024 exceeding 2022 level.
Net cash used for financing activities	Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit.	Caterpillar Inc. net cash used for financing activities increased from 2022 to 2023 but then decreased significantly from 2023 to 2024.

Caterpillar Inc. (NYSE:CAT)

Cash Flow Statement