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, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Profit of consolidated and affiliated companies	10,332)	6,704)	6,493)	3,003)	6,094)
Depreciation and amortization	2,144)	2,219)	2,352)	2,432)	2,577)
Actuarial (gain) loss on pension and postretirement benefits	(97)	(606)	(833)	383)	468)
Provision (benefit) for deferred income taxes	(592)	(377)	(383)	(74)	28)
Loss on divestiture	572)	—)	—)	—)	—)
Goodwill impairment charge	—)	925)	—)	—)	—)
Other	375)	701)	216)	1,000)	675)
Adjustments for non-cash items	2,402)	2,862)	1,352)	3,741)	3,748)
Receivables, trade and other	(437)	(220)	(1,259)	1,442)	171)
Inventories	(364)	(2,589)	(2,586)	(34)	274)
Accounts payable	(754)	798)	2,041)	98)	(1,025)
Accrued expenses	796)	317)	196)	(366)	172)
Accrued wages, salaries and employee benefits	486)	90)	1,107)	(544)	(757)
Customer advances	80)	768)	34)	(126)	(10)
Other assets, net	(95)	(210)	(97)	(201)	(93)
Other liabilities, net	439)	(754)	(83)	(686)	(1,662)
Changes in assets and liabilities, net of acquisitions and divestitures	151)	(1,800)	(647)	(417)	(2,930)
Net cash provided by operating activities	12,885)	7,766)	7,198)	6,327)	6,912)
Capital expenditures, excluding equipment leased to others	(1,597)	(1,296)	(1,093)	(978)	(1,056)
Expenditures for equipment leased to others	(1,495)	(1,303)	(1,379)	(1,137)	(1,613)
Proceeds from disposals of leased assets and property, plant and equipment	781)	830)	1,265)	772)	1,153)
Additions to finance receivables	(15,161)	(13,239)	(13,002)	(12,385)	(12,777)
Collections of finance receivables	14,034)	13,177)	12,430)	12,646)	12,183)
Proceeds from sale of finance receivables	63)	57)	51)	42)	235)
Investments and acquisitions, net of cash acquired	(75)	(88)	(490)	(111)	(47)
Proceeds from sale of businesses and investments, net of cash sold	(4)	1)	36)	25)	41)
Proceeds from maturities and sale of securities	1,891)	2,383)	785)	345)	529)
Investments in securities	(4,405)	(3,077)	(1,766)	(638)	(552)
Other, net	97)	14)	79)	(66)	(24)
Net cash used for investing activities	(5,871)	(2,541)	(3,084)	(1,485)	(1,928)
Dividends paid	(2,563)	(2,440)	(2,332)	(2,243)	(2,132)
Common stock issued, including treasury shares reissued	12)	51)	135)	229)	238)
Common shares repurchased	(4,975)	(4,230)	(2,668)	(1,130)	(4,047)
Machinery, Energy & Transportation	—)	—)	494)	1,991)	1,479)
Financial Products	8,257)	6,674)	6,495)	8,440)	8,362)
Proceeds from debt issued, original maturities greater than three months	8,257)	6,674)	6,989)	10,431)	9,841)
Machinery, Energy & Transportation	(106)	(25)	(1,919)	(26)	(12)
Financial Products	(6,212)	(7,703)	(7,877)	(8,211)	(8,285)
Payments on debt, original maturities greater than three months	(6,318)	(7,728)	(9,796)	(8,237)	(8,297)
Short-term borrowings, net, original maturities three months or less	(1,345)	402)	3,488)	(2,804)	(138)
Other, net	—)	(10)	(4)	(1)	(3)
Net cash used for financing activities	(6,932)	(7,281)	(4,188)	(3,755)	(4,538)
Effect of exchange rate changes on cash	(110)	(194)	(29)	(13)	(44)
Increase (decrease) in cash, cash equivalents and restricted cash	(28)	(2,250)	(103)	1,074)	402)
Cash, cash equivalents and restricted cash at beginning of period	7,013)	9,263)	9,366)	8,292)	7,890)
Cash, cash equivalents and restricted cash at end of period	6,985)	7,013)	9,263)	9,366)	8,292)

Based on: 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), 10-K (reporting date: 2019-12-31).

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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 2021 to 2022 and from 2022 to 2023.
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 increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.
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 decreased from 2021 to 2022 but then slightly increased from 2022 to 2023.

Caterpillar Inc. (NYSE:CAT)

Cash Flow Statement