Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data
The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.
Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.
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Caterpillar Inc., consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2025-06-30), 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).
- Machinery, Energy & Transportation (Current Assets and Liabilities)
- Data points for "Machinery, Energy & Transportation" under current assets and liabilities show irregular and sparse values with some missing data, indicating volatility or inconsistent reporting. The balances fluctuate at low levels in recent quarters, suggesting a minimal role in current financial positioning compared to other categories.
- Financial Products
- Financial products present more consistent values across periods. Both assets and borrowings fluctuate but generally remain within a range, showing some cyclicality. Short-term borrowings related to financial products align closely with reported values, indicating a balanced debt management approach within current liabilities. Long-term financial products liabilities show a mild downtrend from 2023 into 2024 but increase again toward 2025, reflecting adjustments in longer-term financing strategies.
- Accounts Payable and Accrued Expenses
- Accounts payable demonstrate a steady increase from 2020 through 2023, peaking in late 2023 before slightly tapering in early 2024. This suggests growing obligations possibly tied to increased operational activity. Accrued expenses also follow an upward trend, rising consistently over the years with a significant increase in wage-related accruals, highlighting potential rising labor costs and related liabilities.
- Dividends Payable
- Dividends payable values indicate a modest upward trend, increasing gradually year over year, which may reflect growing profitability or increased dividend payout policies.
- Other Current Liabilities
- Other current liabilities fluctuate moderately but show a general increasing tendency, peaking around early 2023 and then declining slightly afterward. This pattern may indicate shifts in miscellaneous short-term obligations corresponding with business operations and cash flow management.
- Current Liabilities Overall
- The total current liabilities show a rising trend from 2020 to 2023, peaking in mid-2023 around 35 billion USD, with fluctuations indicating active management of short-term obligations. The peak in current liabilities may suggest increased operational demands or short-term financing requirements.
- Long-term Debt (Due Within One Year and After One Year)
- Long-term debt due within one year exhibits volatility, with several upsurges particularly notable in late 2021 and 2023 periods, followed by some declines. Debt due after one year also fluctuates but remains substantial, with moderate increases and decreases over the years. The data reflect ongoing adjustments in debt structure, repayment schedules, and refinancing activities.
- Noncurrent Liabilities
- Noncurrent liabilities present a slow but consistent decline from 2020 to early 2023, decreasing from over 35 billion USD to around 31 billion USD, before rising again toward the end of the period. This trend suggests improved long-term obligation management initially, followed by renewed borrowing or reclassification of liabilities.
- Liability for Postemployment Benefits
- The liability for postemployment benefits decreases steadily from approximately 6.3 billion USD in early 2020 to around 3.6 billion USD by mid-2025. This decline might indicate changes in pension plans, better funding status, or actuarial adjustments reducing the long-term benefit obligations.
- Other Liabilities
- Other liabilities are relatively stable with minor variations, mostly maintaining a range between 4.3 billion USD and 5 billion USD throughout the periods, indicating controlled miscellaneous obligations that have limited impact on overall liability structure.
- Total Liabilities
- Total liabilities fluctuate with an overall upward trajectory between 2020 and 2025, moving from approximately 61.6 billion USD to over 71.6 billion USD. This demonstrates an increase in overall obligations, possibly reflecting growth in business activities and financing needs.
- Shareholders’ Equity Components
- Common stock paid-in amounts remain relatively stable over time, supporting steady equity contributions. Treasury stock, however, shows a marked increase in cost (more negative value), implying significant repurchasing of shares which reduces outstanding shares. Profit employed in the business consistently rises from roughly 35.5 billion USD to over 62 billion USD, highlighting accumulation of retained earnings and growth in net assets. Accumulated other comprehensive losses show variability but with a general pattern of reduction in net loss toward 2025, indicating some improvement in comprehensive income components.
- Total Shareholders’ Equity
- Total shareholders' equity shows variability with peaks and troughs, rising from about 14.2 billion USD in early 2020 to over 20 billion USD around 2023 before experiencing a slight decline and partial recovery toward 2025. This pattern reflects the combined effects of earnings retention, share repurchases, and fluctuations in other equity components.
- Total Liabilities and Shareholders’ Equity
- The total capitalization metric moves steadily upward from approximately 75.9 billion USD in early 2020 to over 90.3 billion USD by 2025. This increment indicates growth in the company’s asset base financed by a mix of increased liabilities and equity, demonstrating expansion and scaling over the observed period.
- Summary of Financial Position Trends
- The organization shows growth in total liabilities and equity, suggesting expansion with increased financing and retained earnings. Short-term liabilities increase notably, signaling active operating cycles and possible working capital demands. Long-term debt management appears dynamic with refinancings. Equity repurchases are aggressive, contributing to fluctuations in equity levels. Decreasing postemployment benefit liabilities and comprehensive losses indicate some risk reduction in long-term obligations. Overall, the financial structure suggests an expanding enterprise with strategic financing and equity management responding to operational and market conditions.