CATERPILLAR INC. 
Accounts payable 6,694 6,128 Accrued expenses 3,574 3,642 Accrued wages, salaries and employee benefits 1,283 1,096 Customer advances 1,168 1,108 Dividends payable - 562 Other current liabilities 2,035 2,017 Long-term debt due within one year: =- Machinery, Energy & Transportation 1,301 1,420 =- Financial Products 6,898 7,729 Total current liabilities 26,578 25,717 Long-term debt due after one year: =- Machinery, Energy & Transportation 9,751 9,749 =- Financial Products 16,605 16,250 Liability for postemployment benefits 6,698 6,872 Other liabilities 4,480 4,358 Total liabilities 64,112 62,946 Shareholders' equity Common stock 6,215 6,230 Treasury stock (25,049) (25,178) Profit employed in the business 36,697 35,167 Accumulated other comprehensive income (loss) (1,290) (888) Noncontrolling interests 44 47 Total shareholders' equity 16,617 15,378 Total liabilities and shareholders' equity USD 80,729 USD 78,324
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Caterpillar Inc. Condensed Consolidated Statement of Cash Flow (Unaudited) (Millions of dollars)
Three Months Ended March 31,
Cash flow from operating activities: 2021 2020
Profit of consolidated and affiliated companies USD 1,531 USD 1,093
Adjustments for non-cash items:
Depreciation and amortization 586 614
Gain on remeasurement of a non-U.S. pension obligation - (254)
Provision (benefit) for deferred income taxes 109 20
Other (104) 534
Changes in assets and liabilities, net of acquisitions and divestitures:
Receivables - trade and other (543) 500
Inventories (657) (541)
Accounts payable 733 90
Accrued expenses 84 (97)
Accrued wages, salaries and employee benefits 191 (722)
Customer advances 58 116
Other assets - net 56 (50)
Other liabilities - net (116) (173)
Net cash provided by (used for) operating activities 1,928 1,130
Cash flow from investing activities:
Capital expenditures - excluding equipment leased to others (252) (305)
Expenditures for equipment leased to others (252) (243)
Proceeds from disposals of leased assets and property, plant and equipment 309 216
Additions to finance receivables (2,629) (2,953)
Collections of finance receivables 2,770 3,153
Proceeds from sale of finance receivables 5 31
Investments and acquisitions (net of cash acquired) (386) (35)
Proceeds from sale of businesses and investments (net of cash sold) 28 -
Proceeds from sale of securities 126 68
Investments in securities (148) (180)
Other - net (48) 35
Net cash provided by (used for) investing activities (477) (213)
Cash flow from financing activities:
Dividends paid (562) (567)
Common stock issued, including treasury shares reissued 65 (23)
Common shares repurchased - (1,043)
Proceeds from debt issued (original maturities greater than three months) 2,273 2,141
Payments on debt (original maturities greater than three months) (2,887) (2,466)
Short-term borrowings - net (original maturities three months or less) 1,659 (40)
Other - net (2) (1)
Net cash provided by (used for) financing activities 546 (1,999)
Effect of exchange rate changes on cash (12) (80)
Increase (decrease) in cash and short-term investments and restricted cash 1,985 (1,162)
Cash and short-term investments and restricted cash at beginning of period 9,366 8,292
Cash and short-term investments and restricted cash at end of period USD 11,351 USD 7,130 All short-term investments, which consist primarily of highly liquid investments with original maturities of three months or less, are considered to be cash equivalents.
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Caterpillar Inc. Supplemental Data for Results of Operations For the Three Months Ended March 31, 2021 (Unaudited) (Millions of dollars)
Supplemental Consolidating Data
Consolidated Machinery, Financial Consolidating
Sales and revenues: Energy &
Transportation Products Adjustments
Sales of Machinery, Energy & Transportation USD 11,191 USD 11,191 USD - USD -
Revenues of Financial Products 696 - 788 (92) 1
Total sales and revenues 11,887 11,191 788 (92)
Operating costs:
Cost of goods sold 8,012 8,013 - (1) 2
Selling, general and administrative expenses 1,239 1,114 124 1 2
Research and development expenses 374 374 - -
Interest expense of Financial Products 125 - 125 -
Other operating (income) expenses 323 26 314 (17) 2
Total operating costs 10,073 9,527 563 (17)
Operating profit 1,814 1,664 225 (75)
Interest expense excluding Financial Products 142 142 - -
Other income (expense) 325 231 19 75 3
Consolidated profit before taxes 1,997 1,753 244 -
Provision (benefit) for income taxes 475 412 63 -
Profit of consolidated companies 1,522 1,341 181 -
Equity in profit (loss) of unconsolidated affiliated companies 9 12 - (3) 4
Profit of consolidated and affiliated companies 1,531 1,353 181 (3)
Less: Profit (loss) attributable to noncontrolling interests 1 1 3 (3) 5
Profit 6 USD 1,530 USD 1,352 USD 178 USD -
1 Elimination of Financial Products' revenues earned from ME&T. 2 Elimination of net expenses recorded by ME&T paid to Financial Products.
3 Elimination of discount recorded by ME&T on receivables sold to Financial Products and of interest earned between ME&T and Financial Products as well as dividends paid by Financial Products to ME&T.
4 Elimination of equity profit (loss) earned from Financial Products' subsidiaries partially owned by ME&T subsidiaries.
5 Elimination of noncontrolling interest profit (loss) recorded by Financial Products for subsidiaries partially owned by ME&T subsidiaries.
6 Profit attributable to common shareholders.
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