Caterpillar Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Caterpillar Inc. has filed its 2023 Annual Report (10-K) detailing its financial performance and operations for the year ending December 31, 2023.</b>

AI Summary

CATERPILLAR INC (CAT) filed a Annual Report (10-K) with the SEC on February 16, 2024. Caterpillar Inc. filed its 2023 Annual Report on Form 10-K on February 16, 2024. The report covers the fiscal year ending December 31, 2023. The company's principal business is Construction Machinery & Equipment (SIC 3531). Caterpillar Inc. was formerly known as Caterpillar Tractor Co. until June 23, 1986. The filing includes detailed financial information and risk factors for the fiscal year 2023.

Why It Matters

For investors and stakeholders tracking CATERPILLAR INC, this filing contains several important signals. This 10-K filing provides a comprehensive overview of Caterpillar's financial health, operational performance, and strategic outlook for investors and stakeholders. The detailed information within the report is crucial for understanding the company's market position, potential risks, and future growth prospects in the construction and mining equipment industry.

Risk Assessment

Risk Level: medium — CATERPILLAR INC shows moderate risk based on this filing. The company operates in the cyclical construction and mining equipment industry, which is subject to economic downturns and fluctuations in commodity prices, as evidenced by the detailed segment reporting and risk factors typically included in a 10-K filing.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-K to assess Caterpillar's performance and outlook in the context of global economic conditions.

Key Numbers

• 2023-12-31 — Fiscal Year End (Reporting period)
• 2024-02-16 — Filing Date (Date of submission)
• 159 — Public Document Count (Number of documents in the filing)
• 3531 — SIC Code (Standard Industrial Classification for Construction Machinery & Equip)

Key Players & Entities

• CATERPILLAR INC (company) — Filer name
• CAT (company) — Ticker symbol
• 2024-02-16 (date) — Filing date
• 2023-12-31 (date) — Fiscal year end
• CONSTRUCTION MACHINERY & EQUIP (industry) — Standard Industrial Classification
• Caterpillar Tractor Co. (company) — Former company name
• 1986-06-23 (date) — Date of name change
• 5205 N. O'CONNOR BOULEVARD (address) — Business address

FAQ

Key Dates

• 2024-02-16: Filing of 10-K — Submission of the annual report for the fiscal year 2023.
• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K.

Glossary

10-K

An annual report required by the U.S. Securities and Exchange Commission (SEC), which gives a comprehensive summary of a company's financial performance. (This filing provides the official annual financial and operational overview of Caterpillar Inc.)

SIC

Standard Industrial Classification code used to classify businesses by industry. (Identifies Caterpillar Inc.'s primary industry as Construction Machinery & Equipment.)

Key Financial Figures

• $1.00 — ange on which registered Common Stock ($1.00 par value) CAT New York Stock Exchange
• $67.060 b — rview With 2023 sales and revenues of $67.060 billion, Caterpillar is the world's leadi

Filing Documents

• cat-20231231.htm (10-K) — 5554KB
• cat_exx21x12312023subsidia.htm (EX-21) — 280KB
• cat_exx23x12312023.htm (EX-23) — 3KB
• cat_exx311x12312023.htm (EX-31.1) — 12KB
• cat_exx312x12312023.htm (EX-31.2) — 12KB
• cat_exx32x12312023.htm (EX-32) — 12KB
• cat_exx97x12312023clawback.htm (EX-97) — 36KB
• cat-20231231_g1.jpg (GRAPHIC) — 3KB
• cat-20231231_g2.jpg (GRAPHIC) — 528KB
• cat-20231231_g3.jpg (GRAPHIC) — 97KB
• cat-20231231_g4.jpg (GRAPHIC) — 134KB
• 0000018230-24-000009.txt (&nbsp;) — 29510KB
• cat-20231231.xsd (EX-101.SCH) — 127KB
• cat-20231231_cal.xml (EX-101.CAL) — 175KB
• cat-20231231_def.xml (EX-101.DEF) — 816KB
• cat-20231231_lab.xml (EX-101.LAB) — 1661KB
• cat-20231231_pre.xml (EX-101.PRE) — 1125KB
• cat-20231231_htm.xml (XML) — 6735KB

Business

Business 1 Item 1A.

Risk Factors

Risk Factors 9 Item 1B. Unresolved Staff Comments 19 Item 1C. Cybersecurity 19 Item 1D. Information about our Executive Officers 21 Item 2.

Properties

Properties 22 Item 3.

Legal Proceedings

Legal Proceedings 24 Item 4. Mine Safety Disclosures 24 Part II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 24 Item 6. [Reserved] 26 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 27 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 52 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 53 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 120 Item 9A.

Controls and Procedures

Controls and Procedures 120 Item 9B. Other Information 120 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 120 Part III Item 10. Directors, Executive Officers and Corporate Governance 120 Item 11.

Executive Compensation

Executive Compensation 121 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 121 Item 13. Certain Relationships and Related Transactions, and Director Independence 121 Item 14. Principal Accountant Fees and Services 122 Part IV Item 15. Exhibits and Financial Statement Schedules 123 Item 16. Form 10-K Summary 127 i Table of Contents PART I

Business

Item 1. Business. General Originally organized as Caterpillar Tractor Co. in 1925 in the State of California, our company was reorganized as Caterpillar Inc. in 1986 in the State of Delaware. As used herein, the term "Caterpillar," "we," "us," "our" or "the company" refers to Caterpillar Inc. and its subsidiaries unless designated or identified otherwise. Overview With 2023 sales and revenues of $67.060 billion, Caterpillar is the world's leading manufacturer of construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The company principally operates through its three primary segments - Construction Industries, Resource Industries and Energy & Transportation - and also provides financing and related services through its Financial Products segment. Caterpillar is also a leading U.S. exporter. Through a global network of independent dealers and direct sales of certain products, Caterpillar builds long-term relationships with customers around the world. Enterprise Strategy Our company strategy, rolled out in 2017, reflects our legacy and our continuing commitment to meet the needs of our customers and the communities in which we live and work. United by our Values, Caterpillar employees around the world share a focused view of our business through the Operating & Execution Model, through which we are making strategic choices today to create long-term profitable growth. Since 2017, we focused on three strategic areas: Expanded Offerings, Operational Excellence and Services. In 2022, we updated our strategy to also include Sustainability as a strategic area. For nearly 100 years, our longstanding commitment to sustainability has inspired us to set and achieve meaningful environmental, social and governance goals. It's also allowed us to develop innovative products, technologies and services to support our customers on their sustainability journey. The addition of sustainability as

View Full Filing

View this 10-K filing on SEC EDGAR