XML 39 R24.htm IDEA: XBRL DOCUMENT
v3.25.3

Segment Information | 9 Months Ended
--- | ---
Sep. 30, 2025
Segment Reporting [Abstract] |
Segment Information | Segment information A. Basis for segment information Our Executive Office is comprised of a Chief Executive Officer (CEO), four Group Presidents, a Chief Financial Officer (CFO), a Chief Legal Officer and General Counsel and a Chief Human Resources Officer. The Group Presidents and CFO are accountable for a related set of end-to-end businesses that they manage. The Chief Legal Officer and General Counsel leads the Law, Security and Public Policy Division. The Chief Human Resources Officer leads the Human Resources Organization. The CEO allocates resources and manages performance at the Group President/CFO level. As such, the CEO serves as our Chief Operating Decision Maker (CODM), and operating segments are primarily based on the Group President/CFO reporting structure. Three of our operating segments, Construction Industries, Resource Industries and Energy & Transportation are led by Group Presidents. One operating segment, Financial Products, is led by the CFO who also has responsibility for Corporate Services. Corporate Services is a cost center primarily responsible for the performance of certain support functions globally and to provide centralized services; it does not meet the definition of an operating segment. One Group President leads one smaller operating segment that is included in the All Other Segment. The Law, Security and Public Policy Division and the Human Resources Organization are cost centers and do not meet the definition of an operating segment. Effective July 1, 2025, we made the following changes to segment reporting. These changes were made to reflect changes in organizational accountabilities and refinements to our internal reporting. •Responsibility for business strategy, product design, product management and development, manufacturing, marketing and sales and product support for and sourcing of wear and maintenance components and related parts moved from All Other Segment to Resource Industries. •Responsibility for business strategy, product design, product management and development, manufacturing and product support for electronics and control systems moved from Resource Industries to All Other Segment. •Responsibility for research and development for automation, electronics and software for machines and engines moved from Resource Industries to the All Other Segment. Segment information for 2024 has been retrospectively adjusted to conform to the 2025 presentation. B. Description of segments We have five operating segments, of which four are reportable segments. Following is a brief description of our reportable segments and the business activities included in the All Other Segment: Construction Industries: A segment primarily responsible for supporting customers using machinery in infrastructure and building construction applications. Responsibilities include business strategy, product design, product management and development, manufacturing, marketing and sales and product support. The product portfolio includes asphalt pavers; backhoe loaders; cold planers; compactors; compact track loaders; forestry machines; material handlers; motor graders; pipelayers; road reclaimers; skid steer loaders; telehandlers; track-type loaders; track-type tractors (small, medium); track excavators (mini, small, medium, large); wheel excavators; wheel loaders (compact, small, medium); and related parts and work tools. Inter-segment sales are a source of revenue for this segment. Resource Industries: A segment primarily responsible for supporting customers using machinery in mining, heavy construction and quarry and aggregates. Responsibilities include business strategy, product design, product management and development, manufacturing, marketing and sales and product support. The product portfolio includes large track-type tractors; large mining trucks; hard rock vehicles; electric rope shovels; draglines; hydraulic shovels; rotary drills; large wheel loaders; off-highway trucks; articulated trucks; wheel tractor scrapers; wheel dozers; landfill compactors; soil compactors; wide-body trucks; select work tools; machinery components; wear and maintenance components and related parts. In addition to equipment, Resource Industries also sells technology products and services to provide customers fleet management, equipment management analytics, autonomous machine capabilities, safety services and mining performance solutions. Resource Industries also manages areas that provide services to other parts of the company, including strategic procurement, lean center of excellence, integrated component design and manufacturing and research and development for hydraulic systems and cabs. Inter-segment sales are a source of revenue for this segment. Energy & Transportation: A segment primarily responsible for supporting customers using reciprocating engines, turbines, diesel-electric locomotives and related services across industries serving Oil and Gas, Power Generation, Industrial and Transportation applications, including marine- and rail-related businesses as well as product support of on-highway engines. Responsibilities include business strategy, product design, product management, development and testing, manufacturing, marketing and sales and product support. The product and services portfolio includes turbines, centrifugal gas compressors, and turbine-related services; reciprocating engine-powered generator sets; integrated systems and solutions used in the electric power generation industry; reciprocating engines, drivetrain and integrated systems and solutions for the marine and oil and gas industries; reciprocating engines, drivetrain and integrated systems and solutions supplied to the industrial industry as well as Caterpillar machines; electrified powertrain and zero-emission power sources and service solutions development; and diesel-electric and hybrid locomotives and components and other rail-related products and services, including remanufacturing and leasing. Responsibilities also include the remanufacturing of Caterpillar reciprocating engines and components and remanufacturing services for other companies. Inter-segment sales are a source of revenue for this segment. Financial Products Segment: Provides financing alternatives to customers and dealers around the world for Caterpillar products and services, as well as financing for power generation facilities that, in most cases, incorporate Caterpillar products. Financing plans include operating and finance leases, revolving charge accounts, installment sale contracts, repair/rebuild financing, working capital loans and wholesale financing plans. The segment also provides insurance and risk management products and services that help customers and dealers manage their business risk. Insurance and risk management products offered include physical damage insurance, inventory protection plans, extended service coverage and maintenance plans for machines and engines, and dealer property and casualty insurance. The various forms of financing, insurance and risk management products offered to customers and dealers help support the purchase and lease of Caterpillar equipment. The segment also earns revenues from Machinery, Energy & Transportation, but the related costs are not allocated to operating segments. Financial Products’ segment profit is determined on a pretax basis and includes other income/expense items. All Other Segment: Primarily includes activities such as: business strategy; product management and development; parts distribution; integrated logistics solutions; electronics and control systems; distribution services responsible for dealer development and administration, including a wholly owned dealer in Japan; dealer portfolio management and ensuring the most efficient and effective distribution of machines, engines and parts; brand management and marketing strategy; research and development for automation, electronics and software for machines and engines and digital investments for new customer and dealer solutions that integrate data analytics with state-of-the-art digital technologies while transforming the buying experience. Results for the All Other Segment are included as a reconciling item between reportable segments and consolidated external reporting. C. Segment measurement and reconciliations We determine the segment profit of Construction Industries, Resource Industries, Energy & Transportation and our All Other Segment on a pretax basis and exclude most interest expense and certain other income (expense) items. We determine Financial Products Segment profit on a pretax basis and include other income (expense) items. Our CODM evaluates the operating performance of the segments using segment profit as it provides insight into the financial health of each segment. The CODM reviews this metric regularly to compare the profitability of segments, identify trends, and evaluate which segments require additional resources or strategic adjustments. The CODM uses segment profit to support the allocation of resources predominantly in the annual budget and forecasting process. Additionally, the CODM monitors forecast-to-actual variances, focusing on areas where performance deviates from expectations, when evaluating the performance of each segment and making decisions about allocating capital and other resources to each segment. There are several methodology differences between our segment reporting and our external reporting. The following is a list of the more significant methodology differences: •For Construction Industries, Resource Industries, Energy & Transportation and our All Other Segment net assets generally include inventories, receivables, property, plant and equipment, goodwill, intangibles, accounts payable and customer advances. We generally manage at the corporate level liabilities other than accounts payable and customer advances, and we do not include these in segment operations. Financial Products Segment assets generally include all categories of assets. •We value segment inventories and cost of sales using a current cost methodology. •We amortize goodwill allocated to segments using a fixed amount based on a 20-year useful life. This methodology difference only impacts segment assets. We do not include goodwill amortization expense in segment profit. In addition, we have allocated to segments only a portion of goodwill for certain acquisitions made in 2011 or later. •We generally manage currency exposures for operating segments, other than Financial Products, at the corporate level and do not include in segment profit or segment assets the effects of changes in exchange rates on results of operations and financial position within the year. We report the net difference created in the translation of revenues and costs between exchange rates used for U.S. GAAP reporting and exchange rates used for segment reporting as a methodology difference. •We do not include stock-based compensation expense in segment profit. •Postretirement benefit expenses are split; segments are generally responsible for service costs, with the remaining elements of net periodic benefit cost included as a methodology difference. Reconciling items are created based on accounting differences between segment reporting and our consolidated external reporting. Please refer to pages 33-35 for financial information regarding significant reconciling items. Most of our reconciling items are self-explanatory given the above explanations. For the reconciliation of profit, we have grouped the reconciling items as follows: •Corporate costs: These costs are related to corporate requirements primarily for compliance and legal functions for the benefit of the entire organization. •Restructuring income/costs: May include costs for employee separation, long-lived asset impairments, contract terminations and (gains)/losses on divestitures. These costs are included in Other operating (income) expenses except for defined-benefit plan curtailment losses and special termination benefits, which are included in Other income (expense). Restructuring costs also include other exit-related costs, which may consist of accelerated depreciation, inventory write-downs, building demolition, equipment relocation and project management costs and LIFO inventory decrement benefits from inventory liquidations at closed facilities, all of which are primarily included in Cost of goods sold. See Note 20 for more information. •Methodology differences: See previous discussion of significant accounting differences between segment reporting and consolidated external reporting. •Timing: Timing differences in the recognition of costs between segment reporting and consolidated external reporting. For example, we report certain costs on the cash basis for segment reporting and the accrual basis for consolidated external reporting. The three and nine months ended September 30, 2025 and 2024, sales and revenues by geographic region reconciled to consolidated sales and revenues were as follows:
Sales and Revenues by Geographic Region |  |  |  |  |  |  |  |  |  |  |  |  |  |
(Millions of dollars) |  | North America |  | Latin America |  | EAME |  | Asia/ Pacific |  | External Sales and Revenues |  | Intersegment Sales and Revenues |  | Total Sales and Revenues
Three Months Ended September 30, 2025 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Construction Industries |  | $ | 3,912 |  |  | $ | 654 |  |  | $ | 1,217 |  |  | $ | 904 |  |  | $ | 6,687 |  |  | $ | 73 |  |  | $ | 6,760 |
Resource Industries |  | 1,152 |  |  | 543 |  |  | 541 |  |  | 799 |  |  | 3,035 |  |  | 75 |  |  | 3,110 |
Energy & Transportation |  | 4,045 |  |  | 559 |  |  | 1,367 |  |  | 1,088 |  |  | 7,059 |  |  | 1,338 |  |  | 8,397 |
Financial Products Segment |  | 722 |  |  | 118 |  |  | 130 |  |  | 106 |  |  | 1,076 |  | 1 | — |  |  | 1,076 |
Total sales and revenues from reportable segments |  | 9,831 |  |  | 1,874 |  |  | 3,255 |  |  | 2,897 |  |  | 17,857 |  |  | 1,486 |  |  | 19,343 |
All Other Segment |  | 5 |  |  | — |  |  | 2 |  |  | 3 |  |  | 10 |  |  | 63 |  |  | 73 |
Corporate Items and Eliminations |  | (155) |  |  | (24) |  |  | (26) |  |  | (24) |  |  | (229) |  |  | (1,549) |  |  | (1,778) |
Total Sales and Revenues |  | $ | 9,681 |  |  | $ | 1,850 |  |  | $ | 3,231 |  |  | $ | 2,876 |  |  | $ | 17,638 |  |  | $ | — |  |  | $ | 17,638 |
Three Months Ended September 30, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Construction Industries |  | $ | 3,629 |  |  | $ | 658 |  |  | $ | 1,150 |  |  | $ | 875 |  |  | $ | 6,312 |  |  | $ | 33 |  |  | $ | 6,345 |
Resource Industries |  | 1,141 |  |  | 499 |  |  | 444 |  |  | 870 |  |  | 2,954 |  |  | 94 |  |  | 3,048 |
Energy & Transportation |  | 3,214 |  |  | 449 |  |  | 1,486 |  |  | 856 |  |  | 6,005 |  |  | 1,182 |  |  | 7,187 |
Financial Products Segment |  | 695 |  |  | 97 |  |  | 130 |  |  | 112 |  |  | 1,034 |  | 1 | — |  |  | 1,034 |
Total sales and revenues from reportable segments |  | 8,679 |  |  | 1,703 |  |  | 3,210 |  |  | 2,713 |  |  | 16,305 |  |  | 1,309 |  |  | 17,614 |
All Other Segment |  | 1 |  |  | (1) |  |  | 1 |  |  | 7 |  |  | 8 |  |  | 64 |  |  | 72 |
Corporate Items and Eliminations |  | (135) |  |  | (24) |  |  | (12) |  |  | (36) |  |  | (207) |  |  | (1,373) |  |  | (1,580) |
Total Sales and Revenues |  | $ | 8,545 |  |  | $ | 1,678 |  |  | $ | 3,199 |  |  | $ | 2,684 |  |  | $ | 16,106 |  |  | $ | — |  |  | $ | 16,106 |
1 Includes revenues from Construction Industries, Resource Industries, Energy & Transportation and All Other Segment of $187 million and $190 million in the three months ended September 30, 2025 and 2024, respectively.
Sales and Revenues by Geographic Region |  |  |  |  |  |  |  |  |  |  |  |  |  |
(Millions of dollars) |  | North America |  | Latin America |  | EAME |  | Asia/ Pacific |  | External Sales and Revenues |  | Intersegment Sales and Revenues |  | Total Sales and Revenues
Nine Months Ended September 30, 2025 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Construction Industries |  | $ | 10,185 |  |  | $ | 1,698 |  |  | $ | 3,269 |  |  | $ | 2,802 |  |  | $ | 17,954 |  |  | $ | 180 |  |  | $ | 18,134 |
Resource Industries |  | 3,363 |  |  | 1,645 |  |  | 1,451 |  |  | 2,442 |  |  | 8,901 |  |  | 220 |  |  | 9,121 |
Energy & Transportation |  | 10,963 |  |  | 1,422 |  |  | 3,883 |  |  | 2,749 |  |  | 19,017 |  |  | 3,784 |  |  | 22,801 |
Financial Products Segment |  | 2,107 |  |  | 322 |  |  | 378 |  |  | 318 |  |  | 3,125 |  | 1 | — |  |  | 3,125 |
Total sales and revenues from reportable segments |  | 26,618 |  |  | 5,087 |  |  | 8,981 |  |  | 8,311 |  |  | 48,997 |  |  | 4,184 |  |  | 53,181 |
All Other Segment |  | 19 |  |  | — |  |  | 4 |  |  | 11 |  |  | 34 |  |  | 194 |  |  | 228 |
Corporate Items and Eliminations |  | (367) |  |  | (66) |  |  | (68) |  |  | (74) |  |  | (575) |  |  | (4,378) |  |  | (4,953) |
Total Sales and Revenues |  | $ | 26,270 |  |  | $ | 5,021 |  |  | $ | 8,917 |  |  | $ | 8,248 |  |  | $ | 48,456 |  |  | $ | — |  |  | $ | 48,456 |
Nine Months Ended September 30, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Construction Industries |  | $ | 11,419 |  |  | $ | 1,930 |  |  | $ | 3,193 |  |  | $ | 2,843 |  |  | $ | 19,385 |  |  | $ | 67 |  |  | $ | 19,452 |
Resource Industries |  | 3,630 |  |  | 1,499 |  |  | 1,354 |  |  | 2,732 |  |  | 9,215 |  |  | 276 |  |  | 9,491 |
Energy & Transportation |  | 9,473 |  |  | 1,296 |  |  | 4,201 |  |  | 2,602 |  |  | 17,572 |  |  | 3,633 |  |  | 21,205 |
Financial Products Segment |  | 2,022 |  |  | 299 |  |  | 377 |  |  | 331 |  |  | 3,029 |  | 1 | — |  |  | 3,029 |
Total sales and revenues from reportable segments |  | 26,544 |  |  | 5,024 |  |  | 9,125 |  |  | 8,508 |  |  | 49,201 |  |  | 3,976 |  |  | 53,177 |
All Other Segment |  | 13 |  |  | (2) |  |  | 6 |  |  | 11 |  |  | 28 |  |  | 218 |  |  | 246 |
Corporate Items and Eliminations |  | (396) |  |  | (66) |  |  | (83) |  |  | (90) |  |  | (635) |  |  | (4,194) |  |  | (4,829) |
Total Sales and Revenues |  | $ | 26,161 |  |  | $ | 4,956 |  |  | $ | 9,048 |  |  | $ | 8,429 |  |  | $ | 48,594 |  |  | $ | — |  |  | $ | 48,594 |
1 Includes revenues from Construction Industries, Resource Industries, Energy & Transportation and All Other Segment of $522 million and $547 million in the nine months ended September 30, 2025 and 2024, respectively. For the three and nine months ended September 30, 2025 and 2024, Energy & Transportation external sales by end user application were as follows:
Energy & Transportation External Sales |  |  |  |  |  |  |  |
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
(Millions of dollars) |  | 2025 |  | 2024 |  | 2025 |  | 2024
Oil and gas |  | $ | 1,979 |  |  | $ | 1,656 |  |  | $ | 5,104 |  |  | $ | 5,053 |
Power generation |  | 2,634 |  |  | 2,011 |  |  | 7,037 |  |  | 5,514 |
Industrial |  | 1,077 |  |  | 1,028 |  |  | 3,104 |  |  | 3,062 |
Transportation |  | 1,369 |  |  | 1,310 |  |  | 3,772 |  |  | 3,943 |
Energy & Transportation External Sales |  | $ | 7,059 |  |  | $ | 6,005 |  |  | $ | 19,017 |  |  | $ | 17,572 |
Profit from Reportable Segments |  |  |  |  |  |  |  |  |  |
(Millions of dollars) |  | Construction Industries |  | Resource Industries |  | Energy & Transportation |  | Financial Products Segment |  | Total from Reportable Segments
Three Months Ended September 30, 2025 |  |  |  |  |  |  |  |  |  |
Sales and revenues |  | $ | 6,760 |  |  | $ | 3,110 |  |  | $ | 8,397 |  |  | $ | 1,076 |  |  | $ | 19,343 |
Less 1: |  |  |  |  |  |  |  |  |  |
Cost of goods sold |  | 4,874 |  |  | 2,244 |  |  | 5,895 |  |  | — |  |  | 13,013 |
SG&A/R&D 2 |  | 472 |  |  | 379 |  |  | 807 |  |  | 215 |  |  | 1,873 |
Other segment items 3 |  | 37 |  |  | (12) |  |  | 17 |  |  | 620 |  |  | 662 |
Segment Profit |  | $ | 1,377 |  |  | $ | 499 |  |  | $ | 1,678 |  |  | $ | 241 |  |  | $ | 3,795 |
Three Months Ended September 30, 2024 |  |  |  |  |  |  |  |  |  |
Sales and revenues |  | $ | 6,345 |  |  | $ | 3,048 |  |  | $ | 7,187 |  |  | $ | 1,034 |  |  | $ | 17,614 |
Less 1: |  |  |  |  |  |  |  |  |  |
Cost of goods sold |  | 4,349 |  |  | 2,056 |  |  | 4,897 |  |  | — |  |  | 11,302 |
SG&A/R&D 2 |  | 483 |  |  | 369 |  |  | 836 |  |  | 193 |  |  | 1,881 |
Other segment items 3 |  | 27 |  |  | 4 |  |  | 21 |  |  | 595 |  |  | 647 |
Segment Profit |  | $ | 1,486 |  |  | $ | 619 |  |  | $ | 1,433 |  |  | $ | 246 |  |  | $ | 3,784 |
1 The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM. Inter-segment income/expenses are included within the amounts shown.
2 Includes selling, general and administrative (SG&A) and research and development (R&D) expenses. The combined presentation aligns with the segment-level information that is regularly provided to the CODM.
3 Other segment items for each reportable segment primarily includes:
Construction Industries / Resource Industries / Energy & Transportation – other operating (income) expenses, currency impacts defined as a methodology difference between exchange rates used in U.S. GAAP and segment reporting, and equity in (profit) loss of unconsolidated affiliated companies.
Financial Products Segment – interest expense, Cat Financial’s depreciation on equipment leased to others, Insurance Services’ underwriting expenses and investment and interest income, and foreign exchange (gains) losses.
Profit from Reportable Segments |  |  |  |  |  |  |  |  |  |
(Millions of dollars) |  | Construction Industries |  | Resource Industries |  | Energy & Transportation |  | Financial Products Segment |  | Total from Reportable Segments
Nine Months Ended September 30, 2025 |  |  |  |  |  |  |  |  |  |
Sales and revenues |  | $ | 18,134 |  |  | $ | 9,121 |  |  | $ | 22,801 |  |  | $ | 3,125 |  |  | $ | 53,181 |
Less 1: |  |  |  |  |  |  |  |  |  |
Cost of goods sold |  | 13,051 |  |  | 6,430 |  |  | 15,805 |  |  | — |  |  | 35,286 |
SG&A/R&D 2 |  | 1,393 |  |  | 1,107 |  |  | 2,404 |  |  | 614 |  |  | 5,518 |
Other segment items 3 |  | 45 |  |  | (44) |  |  | 15 |  |  | 1,807 |  |  | 1,823 |
Segment Profit |  | $ | 3,645 |  |  | $ | 1,628 |  |  | $ | 4,577 |  |  | $ | 704 |  |  | $ | 10,554 |
Nine Months Ended September 30, 2024 |  |  |  |  |  |  |  |  |  |
Sales and revenues |  | $ | 19,452 |  |  | $ | 9,491 |  |  | $ | 21,205 |  |  | $ | 3,029 |  |  | $ | 53,177 |
Less 1: |  |  |  |  |  |  |  |  |  |
Cost of goods sold |  | 13,029 |  |  | 6,345 |  |  | 14,464 |  |  | — |  |  | 33,838 |
SG&A/R&D 2 |  | 1,406 |  |  | 1,062 |  |  | 2,411 |  |  | 548 |  |  | 5,427 |
Other segment items 3 |  | 26 |  |  | 17 |  |  | 71 |  |  | 1,715 |  |  | 1,829 |
Segment Profit |  | $ | 4,991 |  |  | $ | 2,067 |  |  | $ | 4,259 |  |  | $ | 766 |  |  | $ | 12,083 |
1 The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM. Inter-segment income/expenses are included within the amounts shown.
2 Includes selling, general and administrative (SG&A) and research and development (R&D) expenses. The combined presentation aligns with the segment-level information that is regularly provided to the CODM.
3 Other segment items for each reportable segment primarily includes:
Construction Industries / Resource Industries / Energy & Transportation – other operating (income) expenses, currency impacts defined as a methodology difference between exchange rates used in U.S. GAAP and segment reporting, and equity in (profit) loss of unconsolidated affiliated companies.
Financial Products Segment – interest expense, Cat Financial’s depreciation on equipment leased to others, Insurance Services’ underwriting expenses and investment and interest income, and foreign exchange (gains) losses.
Reconciliation of Consolidated profit before taxes: |  |  |  |  |  |  |
(Millions of dollars) | Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Total profit from reportable segments | $ | 3,795 |  |  | $ | 3,784 |  |  | $ | 10,554 |  |  | $ | 12,083 |
Profit (loss) from All Other Segment | (6) |  |  | (13) |  |  | (25) |  |  | 32 |
Cost centers | 6 |  |  | (5) |  |  | — |  |  | 7 |
Corporate costs | (308) |  |  | (205) |  |  | (732) |  |  | (682) |
Timing | (119) |  |  | (3) |  |  | (202) |  |  | 12 |
Restructuring income (costs) | (37) |  |  | (70) |  |  | (126) |  |  | (322) |
Methodology differences: |  |  |  |  |  |  |
Inventory/cost of sales | 56 |  |  | 13 |  |  | 8 |  |  | 16 |
Postretirement benefit expense | (63) |  |  | (51) |  |  | (116) |  |  | (106) |
Stock-based compensation expense | (66) |  |  | (52) |  |  | (196) |  |  | (171) |
Financing costs | (54) |  |  | (42) |  |  | (168) |  |  | (111) |
Currency | 18 |  |  | (79) |  |  | (131) |  |  | 29 |
Other income/expense methodology differences | (89) |  |  | (166) |  |  | (317) |  |  | (584) |
Other methodology differences | (6) |  |  | (13) |  |  | (34) |  |  | (73) |
Total consolidated profit before taxes | $ | 3,127 |  |  | $ | 3,098 |  |  | $ | 8,515 |  |  | $ | 10,130 |
Reconciliation of Assets: |  |  |
(Millions of dollars) | September 30, 2025 |  | December 31, 2024
Assets from reportable segments: |  |  |
Construction Industries | $ | 5,587 |  |  | $ | 5,546 |
Resource Industries | 6,157 |  |  | 6,082 |
Energy & Transportation | 11,368 |  |  | 11,772 |
Financial Products Segment | 40,026 |  |  | 36,925 |
Total assets from reportable segments | 63,138 |  |  | 60,325 |
Assets from All Other Segment | 1,493 |  |  | 1,403 |
Items not included in segment assets: |  |  |
Cash and cash equivalents | 6,633 |  |  | 6,165 |
Deferred income taxes | 2,870 |  |  | 3,194 |
Goodwill and intangible assets | 4,676 |  |  | 4,478 |
Property, plant and equipment – net and other assets | 4,431 |  |  | 4,808 |
Inventory methodology differences | (3,650) |  |  | (3,560) |
Liabilities included in segment assets | 14,615 |  |  | 11,973 |
Other | (484) |  |  | (1,022) |
Total assets | $ | 93,722 |  |  | $ | 87,764 |
Reconciliation of Depreciation and amortization: |  |  |  |  |  |  |
(Millions of dollars) |  |  |  |  |  |  |
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Depreciation and amortization from reportable segments: |  |  |  |  |  |  |
Construction Industries | $ | 67 |  |  | $ | 60 |  |  | $ | 196 |  |  | $ | 173 |
Resource Industries | 65 |  |  | 58 |  |  | 188 |  |  | 170 |
Energy & Transportation | 168 |  |  | 146 |  |  | 477 |  |  | 426 |
Financial Products Segment | 178 |  |  | 184 |  |  | 534 |  |  | 554 |
Total depreciation and amortization from reportable segments | 478 |  |  | 448 |  |  | 1,395 |  |  | 1,323 |
Items not included in segment depreciation and amortization: |  |  |  |  |  |  |
All Other Segment | 68 |  |  | 71 |  |  | 197 |  |  | 208 |
Cost centers | 26 |  |  | 25 |  |  | 75 |  |  | 72 |
Other | (2) |  |  | (1) |  |  | (3) |  |  | (5) |
Total depreciation and amortization | $ | 570 |  |  | $ | 543 |  |  | $ | 1,664 |  |  | $ | 1,598 |
Reconciliation of Capital expenditures: |  |  |  |  |  |  |
(Millions of dollars) |
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Capital expenditures from reportable segments: |  |  |  |  |  |  |
Construction Industries | $ | 86 |  |  | $ | 66 |  |  | $ | 196 |  |  | $ | 179 |
Resource Industries | 76 |  |  | 54 |  |  | 199 |  |  | 125 |
Energy & Transportation | 454 |  |  | 292 |  |  | 1,165 |  |  | 671 |
Financial Products Segment | 359 |  |  | 264 |  |  | 908 |  |  | 818 |
Total capital expenditures from reportable segments | 975 |  |  | 676 |  |  | 2,468 |  |  | 1,793 |
Items not included in segment capital expenditures: |  |  |  |  |  |  |
All Other Segment | 72 |  |  | 73 |  |  | 167 |  |  | 174 |
Cost centers | 38 |  |  | 60 |  |  | 100 |  |  | 114 |
Timing | (6) |  |  | (71) |  |  | 219 |  |  | 137 |
Other | (8) |  |  | (15) |  |  | (10) |  |  | (40) |
Total capital expenditures | $ | 1,071 |  |  | $ | 723 |  |  | $ | 2,944 |  |  | $ | 2,178 |

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-15 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-42 Reference 7: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 270 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482964/270-10-50-1 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (ee) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 11: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 12: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 13: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 14: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 15: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 16: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 17: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 18: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 19: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-34 Reference 20: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26C -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26C Reference 21: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26B -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26B Reference 22: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-40 Reference 23: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/280/tableOfContent Reference 24: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26 Reference 25: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration