For the year ending 2025-12-31, CAT had $3,090M increase in cash & cash equivalents over the period. $8,918M in free cash flow.
| Cash Flow | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Profit of consolidated and affiliated companies | 8,882 | 10,788 | 10,332 | 6,704 |
| Depreciation and amortization | 2,262 | 2,153 | 2,144 | 2,219 |
| Actuarial (gain) loss on pension and postretirement benefits | 294 | 154 | 97 | 606 |
| Provision (benefit) for deferred income taxes | 465 | -621 | -592 | -377 |
| Loss on divestiture | - | - | 572 | - |
| (gain) loss on divestiture | -30 | -164 | - | - |
| Goodwill impairment charge | - | 0 | 0 | 925 |
| Other | -742 | -564 | -375 | -701 |
| Receivables trade and other | 2,138 | 160 | 437 | 220 |
| Inventories | 1,477 | 414 | 364 | 2,589 |
| Accounts payable | 1,179 | -282 | -754 | 798 |
| Accrued expenses | 438 | 191 | 796 | 317 |
| Accrued wages, salaries and employee benefits | 187 | -363 | 486 | 90 |
| Customer advances | 1,933 | 370 | 80 | 768 |
| Other assets net | 176 | 97 | 95 | 210 |
| Other liabilities net | -294 | -104 | 439 | -754 |
| Net cash provided by (used for) operating activities | 11,739 | 12,035 | 12,885 | 7,766 |
| Capital expenditures excluding equipment leased to others | 2,821 | 1,988 | 1,597 | 1,296 |
| Expenditures for equipment leased to others | 1,465 | 1,227 | 1,495 | 1,303 |
| Proceeds from disposals of leased assets and property, plant and equipment | 708 | 722 | 781 | 830 |
| Additions to finance receivables | 15,329 | 15,409 | 15,161 | 13,239 |
| Collections of finance receivables | 13,515 | 13,608 | 14,034 | 13,177 |
| Proceeds from sale of finance receivables | 71 | 83 | 63 | 57 |
| Investments and acquisitions (net of cash acquired) | 47 | 34 | 75 | 88 |
| Proceeds from sale of businesses and investments (net of cash sold) | 22 | -61 | -4 | 1 |
| Proceeds from maturities and sale of securities | 2,494 | 3,155 | 1,891 | 2,383 |
| Investments in securities | 1,930 | 1,495 | 4,405 | 3,077 |
| Other net | -75 | -193 | -97 | -14 |
| Net cash provided by (used for) investing activities | -4,707 | -2,453 | -5,871 | -2,541 |
| Dividends paid | 2,749 | 2,646 | 2,563 | 2,440 |
| Common stock issued, and other stock compensation transactions, net | -16 | 20 | 12 | 51 |
| Payments to purchase common stock | 5,190 | 7,697 | 4,975 | 4,230 |
| Excise tax paid on purchases of common stock | 73 | 40 | - | - |
| Proceeds from debt issued (original maturities greater than three months)-Machinery Energy Transportation | - | - | 0 | 0 |
| Proceeds from debt issued (original maturities greater than three months)-Machinery Power Energy | 1,976 | - | - | - |
| Proceeds from debt issued (original maturities greater than three months)-Financial Products | 9,129 | 10,283 | 8,257 | 6,674 |
| Payments on debt (original maturities greater than three months)-Machinery Energy Transportation | - | 1,032 | 106 | 25 |
| Payments on debt (original maturities greater than three months)-Machinery Power Energy | 51 | - | - | - |
| Payments on debt (original maturities greater than three months)-Financial Products | 8,030 | 8,284 | 6,212 | 7,703 |
| Short-term borrowings net (original maturities three months or less) | 1,106 | -168 | -1,345 | 402 |
| Other net | -1 | -1 | 0 | -10 |
| Net cash provided by (used for) financing activities | -3,899 | -9,565 | -6,932 | -7,281 |
| Effect of exchange rate changes on cash | -43 | -106 | -110 | -194 |
| Increase (decrease) in cash, cash equivalents and restricted cash | 3,090 | -89 | -28 | -2,250 |
| Cash and cash equivalents at beginning of period | 6,896 | 6,985 | 7,013 | 9,263 |
| Cash and cash equivalents at end of period | 9,986 | 6,896 | 6,985 | 7,013 |
CATERPILLAR INC (CAT)
CATERPILLAR INC (CAT)