Stock Analysis on Net

Caterpillar Inc. (NYSE:CAT)

Analysis of Debt

Microsoft Excel

Total Debt (Carrying Amount)

Caterpillar Inc., balance sheet: debt

US$ in millions

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Short-term borrowings 4,643 5,957 5,404 2,015 5,166
Long-term debt due within one year 8,763 5,322 6,352 9,149 6,210
Long-term debt due after one year 24,472 25,714 26,033 25,999 26,281
Total short-term borrowings and long-term debt (carrying amount) 37,878 36,993 37,789 37,163 37,657

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).

Debt item Description The company
Total short-term borrowings and long-term debt (carrying amount) Sum of the carrying values as of the balance sheet date of all debt plus capital lease obligations. Caterpillar Inc. total debt decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.

Total Debt (Fair Value)

Microsoft Excel
Dec 31, 2023
Selected Financial Data (US$ in millions)
Short-term borrowings 4,643
Machinery, Energy & Transportation 9,550
Financial Products 23,299
Total long-term debt, including amounts due within one year (fair value) 32,849
Total short-term borrowings and long-term debt (fair value) 37,492
Financial Ratio
Debt, fair value to carrying amount ratio 0.99

Based on: 10-K (reporting date: 2023-12-31).


Weighted-average Interest Rate on Debt

Weighted-average effective yield to maturity: 4.96%

Interest rate Debt amount1 Interest rate × Debt amount Weighted-average interest rate2
10.00% 330 33
5.20% 4,069 212
5.20% 244 13
5.27% 752 40
6.68% 193 13
2.67% 498 13
2.72% 795 22
2.04% 496 10
7.38% 241 18
8.64% 233 20
6.12% 456 28
8.38% 64 5
7.02% 158 11
6.39% 1,355 87
4.39% 494 22
3.34% 984 33
3.32% 1,186 39
4.81% 494 24
7.51% 241 18
Total 13,283 659
4.96%

Based on: 10-K (reporting date: 2023-12-31).

1 US$ in millions

2 Weighted-average interest rate = 100 × 659 ÷ 13,283 = 4.96%