Common-Size Balance Sheet: Assets
Quarterly Data
Caterpillar Inc., common-size consolidated balance sheet: assets (quarterly data)
Based on: 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
- Cash and cash equivalents
- There is a general declining trend in cash and cash equivalents as a percentage of total assets from 2020 through 2025. Starting at 9.39% in March 2020, the ratio peaked near 14% in early 2021 before gradually falling to a low of 4.19% by March 2025. This suggests a reduction in liquid asset holdings over time relative to total assets.
- Receivables, trade and other
- The proportion of trade and other receivables remained relatively stable, fluctuating modestly between approximately 9% and 11% throughout the periods. There is a slight upward drift from late 2021 to 2025, indicating a potential gradual increase in outstanding trade receivables.
- Receivables, finance
- Finance receivables as a percentage of total assets showed minor variability, mostly maintaining a band between 10.5% and 12%, without a clear upward or downward trend over the years.
- Prepaid expenses and other current assets
- This category experienced some fluctuations, increasing notably in 2023 with a peak at 5.92% in September, followed by a return to lower levels near 3% by early 2025. The spike may indicate timing differences in prepaid items or increased current asset management activities during this period.
- Inventories
- Inventories showed a general upward movement from approximately 15.5% in early 2020 to over 21% by early 2025, with a peak of 21.08% in March 2023. This rising percentage points to increasing stock levels relative to total assets, which may indicate higher production or stocking requirements.
- Current assets
- The share of current assets in total assets remained relatively stable but showed a slight increase from about 49.5% in 2020 to a peak of 55.31% in late 2023, followed by a gradual decline towards 50.63% in March 2025. This reflects short-term asset growth followed by some normalization.
- Property, plant and equipment, net
- Net property, plant, and equipment generally decreased in relative terms from 16.45% in March 2020 to levels near 14-15% subsequently, with a slight recovery into 2025 reaching 15.81%. This suggests a modest reduction followed by stabilization or asset additions.
- Long-term receivables, trade and other
- This item remained fairly steady, fluctuating narrowly around 1.3% to 1.6% of total assets, indicating consistent long-term receivable balances.
- Long-term receivables, finance
- Finance-related long-term receivables showed a gradual decline from 15.84% in 2020 to around 13.7% by 2023, before rebounding to above 15% by 2025. This pattern suggests some asset portfolio adjustments or changes in financing arrangements over time.
- Noncurrent deferred and refundable income taxes
- There was a steady upward trend in deferred tax assets, increasing from 1.88% in 2020 to nearly 3.92% by 2025, implying growing recognition of deferred tax credits or timing differences.
- Intangible assets
- Intangible assets consistently declined as a percentage of total assets, falling from 1.95% in 2020 to 0.42% by 2025. This continuous decrease might reflect amortization outpacing additions or impairment of intangible assets.
- Goodwill
- Goodwill percentages decreased gradually from a starting point of about 8.1% in 2020 to around 6.2% in 2025, showing a trend of asset write-downs or disposals impacting goodwill over the period.
- Other assets
- Other asset components showed a moderate increase from about 4.7% in 2020 to approximately 6% in the later years, indicating a slight reallocation or growth in miscellaneous noncurrent assets.
- Noncurrent assets
- The proportion of noncurrent assets to total assets declined from around 50.5% in early 2020 to a nadir near 44.7% in 2023, followed by a gradual recovery back towards 49.4% in 2025. This suggests cyclical capital investment activity or reclassifications between current and noncurrent asset categories.