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CAT · Current Report (Form 8-K) · Filed March 26, 2026

Caterpillar Inc — 8-K exhibit

cat-20260326_d2.htm
Caterpillar Inc on Boardroom Alpha
cat-20260326_d2

Exhibit 99.1
catlogonew.jpg                                 
Unaudited Historical Financial Information

The following tables include unaudited historical summary financial information reflecting the realignment of the Company's operating segment results on a continuing operations basis (in millions):

For the three months ended March 31, June 30, September 30, and December 31, 2025, and 2024 and years ended December 31, 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 RevenuesIntersegment Sales and RevenuesTotal Sales and Revenues
Three months ended March 31, 2025    
Construction Industries$2,904 $504 $867 $869 $5,144 $40 $5,184 
Resource Industries1,610 606 510 860 3,586 75 3,661 
Power & Energy2,625 326 1,026 677 4,654 1,129 5,783 
Financial Products Segment682 99 122 104 1,007 
1
— 1,007 
Total sales and revenues from reportable segments7,821 1,535 2,525 2,510 14,391 1,244 15,635 
All Other Segment8 — 1 2 11 59 70 
Corporate Items and Eliminations(91)(20)(20)(22)(153)(1,303)(1,456)
Total Sales and Revenues$7,738 $1,515 $2,506 $2,490 $14,249 $— $14,249 
1 Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $163 million.
Three months ended June 30, 2025
Construction Industries$3,369 $540 $1,185 $1,029 $6,123 $67 $6,190 
Resource Industries1,668 592 584 945 3,789 97 3,886 
Power & Energy3,225 442 1,306 821 5,794 1,243 7,037 
Financial Products Segment703 105 126 108 1,042 
1
— 1,042 
Total sales and revenues from reportable segments8,965 1,679 3,201 2,903 16,748 1,407 18,155 
All Other Segment6 — 1 6 13 72 85 
Corporate Items and Eliminations(120)(23)(22)(27)(192)(1,479)(1,671)
Total Sales and Revenues$8,851 $1,656 $3,180 $2,882 $16,569 $— $16,569 
1 Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $172 million.
Three months ended September 30, 2025
Construction Industries$3,912 $654 $1,217 $904 $6,687 $73 $6,760 
Resource Industries1,721 605 612 977 3,915 84 3,999 
Power & Energy3,478 496 1,296 911 6,181 1,282 7,463 
Financial Products Segment722 118 130 106 1,076 
1
— 1,076 
Total sales and revenues from reportable segments9,833 1,873 3,255 2,898 17,859 1,439 19,298 
All Other Segment5 — 2 3 10 63 73 
Corporate Items and Eliminations(157)(23)(26)(25)(231)(1,502)(1,733)
Total Sales and Revenues$9,681 $1,850 $3,231 $2,876 $17,638 $— $17,638 
1 Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $187 million.

1



North
 America
Latin
 America
EAME
Asia/
 Pacific
External Sales and RevenuesIntersegment Sales and RevenuesTotal Sales and Revenues
Three months ended December 31, 2025
Construction Industries$3,879 $660 $1,326 $981 $6,846 $80 $6,926 
Resource Industries1,884 747 680 980 4,291 83 4,374 
Power & Energy3,990 464 1,763 901 7,118 1,223 8,341 
Financial Products Segment734 120 133 108 1,095 
1
— 1,095 
Total sales and revenues from reportable segments10,487 1,991 3,902 2,970 19,350 1,386 20,736 
All Other Segment7 — 2 3 12 87 99 
Corporate Items and Eliminations(155)(24)(28)(22)(229)(1,473)(1,702)
Total Sales and Revenues$10,339 $1,967 $3,876 $2,951 $19,133 $— $19,133 
1 Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of$190 million.
Year ended December 31, 2025
Construction Industries$14,064 $2,358 $4,595 $3,783 $24,800 $260 $25,060 
Resource Industries6,883 2,550 2,386 3,762 15,581 339 15,920 
Power & Energy13,318 1,728 5,391 3,310 23,747 4,877 28,624 
Financial Products Segment2,841 442 511 426 4,220 
1
— 4,220 
Total sales and revenues from reportable segments37,106 7,078 12,883 11,281 68,348 5,476 73,824 
All Other Segment26 — 6 14 46 281 327 
Corporate Items and Eliminations(523)(90)(96)(96)(805)(5,757)(6,562)
Total Sales and Revenues$36,609 $6,988 $12,793 $11,199 $67,589 $— $67,589 
1 Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $712 million.
Three months ended March 31, 2024    
Construction Industries$3,833 $595 $996 $993 $6,417 $7 $6,424 
Resource Industries1,791 541 579 996 3,907 108 4,015 
Power & Energy2,432 343 1,182 740 4,697 1,165 5,862 
Financial Products Segment659 101 123 108 991 
1
— 991 
Total sales and revenues from reportable segments8,715 1,580 2,880 2,837 16,012 1,280 17,292 
All Other Segment8 (1)3 2 12 75 87 
Corporate Items and Eliminations(150)(20)(31)(24)(225)(1,355)(1,580)
Total Sales and Revenues$8,573 $1,559 $2,852 $2,815 $15,799 $— $15,799 
1 Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $177 million.
Three months ended June 30, 2024
Construction Industries$3,957 $677 $1,047 $975 $6,656 $27 $6,683 
Resource Industries1,734 571 585 1,047 3,937 93 4,030 
Power & Energy2,792 392 1,279 824 5,287 1,230 6,517 
Financial Products Segment668 101 124 111 1,004 
1
— 1,004 
Total sales and revenues from reportable segments9,151 1,741 3,035 2,957 16,884 1,350 18,234 
All Other Segment4 — 2 2 8 79 87 
Corporate Items and Eliminations(112)(22)(40)(29)(203)(1,429)(1,632)
Total Sales and Revenues$9,043 $1,719 $2,997 $2,930 $16,689 $— $16,689 
1 Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $180 million.
2




North
 America
Latin
 America
EAME
Asia/
 Pacific
External Sales and RevenuesIntersegment Sales and RevenuesTotal Sales and Revenues
Three months ended September 30, 2024
Construction Industries$3,629 $658 $1,150 $875 $6,312 $33 $6,345 
Resource Industries1,647 543 579 954 3,723 105 3,828 
Power & Energy2,708 404 1,351 773 5,236 1,151 6,387 
Financial Products Segment695 97 130 112 1,034 
1
— 1,034 
Total sales and revenues from reportable segments8,679 1,702 3,210 2,714 16,305 1,289 17,594 
All Other Segment1 (1)1 7 8 64 72 
Corporate Items and Eliminations(135)(23)(12)(37)(207)(1,353)(1,560)
Total Sales and Revenues$8,545 $1,678 $3,199 $2,684 $16,106 $— $16,106 
1 Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $190 million.
Three months ended December 31, 2024
Construction Industries$3,157 $623 $1,122 $1,057 $5,959 $44 $6,003 
Resource Industries1,487 618 607 1,052 3,764 108 3,872 
Power & Energy3,011 429 1,434 762 5,636 1,104 6,740 
Financial Products Segment680 103 128 113 1,024 
1
— 1,024 
Total sales and revenues from reportable segments8,335 1,773 3,291 2,984 16,383 1,256 17,639 
All Other Segment7 — 1 — 8 90 98 
Corporate Items and Eliminations(106)(21)(24)(25)(176)(1,346)(1,522)
Total Sales and Revenues$8,236 $1,752 $3,268 $2,959 $16,215 $— $16,215 
1 Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $164 million.
Year ended December 31, 2024
Construction Industries$14,576 $2,553 $4,315 $3,900 $25,344 $111 $25,455 
Resource Industries6,659 2,273 2,350 4,049 15,331 414 15,745 
Power & Energy10,943 1,568 5,246 3,099 20,856 4,650 25,506 
Financial Products Segment2,702 402 505 444 4,053 
1
— 4,053 
Total sales and revenues from reportable segments34,880 6,796 12,416 11,492 65,584 5,175 70,759 
All Other Segment20 (2)7 11 36 308 344 
Corporate Items and Eliminations(503)(86)(107)(115)(811)(5,483)(6,294)
Total Sales and Revenues$34,397 $6,708 $12,316 $11,388 $64,809 $— $64,809 
1 Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $711 million.

3




For the three months ended March 31, June 30, September 30, and December 31, 2025, and 2024 and for the years ended December 31, 2025, and 2024, Power & Energy segment sales by end user application were as follows:

Power & Energy External Sales
(Millions of dollars)
2025
Three months ended
March 31,		Three months ended
June 30,		Three months ended
September 30,		Three months ended
December 31,		Year ended December 31,
Oil and Gas$1,258 $1,867 $1,979 $2,398 $7,502 
Power Generation1,996 2,407 2,634 3,238 10,275 
Industrial1,400 1,520 1,568 1,482 5,970 
Power & Energy External Sales$4,654 $5,794 $6,181 $7,118 $23,747 
2024
Three months ended
March 31,		Three months ended
June 30,		Three months ended
September 30,		Three months ended
December 31,		Year ended December 31,
Oil and Gas$1,568 $1,829 $1,656 $1,927 $6,980 
Power Generation1,618 1,885 2,011 2,242 7,756 
Industrial1,511 1,573 1,569 1,467 6,120 
Power & Energy External Sales$4,697 $5,287 $5,236 $5,636 $20,856 

Power & Energy segment sales by end user application previously included the Transportation application, which was comprised of sales into marine and rail applications, as well as product support for on-highway engines. As part of the realignment of the Rail division, sales into marine applications and product support for on‑highway engines are now reported within the Industrial application.
4





For the three months ended March 31, June 30, September 30, and December 31, 2025, and 2024 and years ended December 31, 2025, and 2024, profit from reportable segments were as follows:

Profit from Reportable Segments
(Millions of dollars)
Construction IndustriesResource IndustriesPower & EnergyFinancial Products Segment Total from Reportable Segments
Three months ended March 31, 2025
Sales and revenues$5,184 $3,661 $5,783 $1,007 $15,635 
Less 1:
Cost of goods sold3,718 2,612 3,834 — 10,164 
SG&A/R&D 2
451 439 691 195 1,776 
Other segment items 3
(9)(13)(30)597 545 
Segment Profit$1,024 $623 $1,288 $215 $3,150 
Three months ended June 30, 2025
Sales and revenues$6,190 $3,886 $7,037 $1,042 $18,155 
Less 1:
Cost of goods sold4,459 2,851 4,751 — 12,061 
SG&A/R&D 2
470 465 730 204 1,869 
Other segment items 3
17 7 2 590 616 
Segment Profit$1,244 $563 $1,554 $248 $3,609 
Three months ended September 30, 2025
Sales and revenues$6,760 $3,999 $7,463 $1,076 $19,298 
Less 1:
Cost of goods sold4,874 2,994 5,101 — 12,969 
SG&A/R&D 2
472 461 724 215 1,872 
Other segment items 3
37 — 5 620 662 
Segment Profit$1,377 $544 $1,633 $241 $3,795 
Three months ended December 31, 2025
Sales and revenues$6,926 $4,374 $8,341 $1,095 $20,736 
Less 1:
Cost of goods sold5,342 3,441 5,777 — 14,560 
SG&A/R&D 2
509 506 828 215 2,058 
Other segment items 3
45 6 (45)618 624 
Segment Profit$1,030 $421 $1,781 $262 $3,494 
Year ended December 31, 2025
Sales and revenues$25,060 $15,920 $28,624 $4,220 $73,824 
Less 1:
Cost of goods sold18,393 11,898 19,463 — 49,754 
SG&A/R&D 2
1,902 1,871 2,973 829 7,575 
Other segment items 3
90 — (68)2,425 2,447 
Segment Profit$4,675 $2,151 $6,256 $966 $14,048 
5




Construction IndustriesResource IndustriesPower & EnergyFinancial Products Segment Total from Reportable Segments
Three months ended March 31, 2024
Sales and revenues$6,424 $4,015 $5,862 $991 $17,292 
Less 1:
Cost of goods sold4,210 2,807 3,888 — 10,905 
SG&A/R&D 2
446 435 687 173 1,741 
Other segment items 3
4 21 10 525 560 
Segment Profit$1,764 $752 $1,277 $293 $4,086 
Three months ended June 30, 2024
Sales and revenues$6,683 $4,030 $6,517 $1,004 $18,234 
Less 1:
Cost of goods sold4,470 2,808 4,316 — 11,594 
SG&A/R&D 2
477 434 712 182 1,805 
Other segment items 3
(5)25 8 595 623 
Segment Profit$1,741 $763 $1,481 $227 $4,212 
Three months ended September 30, 2024
Sales and revenues$6,345 $3,828 $6,387 $1,034 $17,594 
Less 1:
Cost of goods sold4,349 2,691 4,242 — 11,282 
SG&A/R&D 2
483 464 741 193 1,881 
Other segment items 3
27 20 4 595 646 
Segment Profit$1,486 $653 $1,400 $246 $3,785 
Three months ended December 31, 2024
Sales and revenues$6,003 $3,872 $6,740 $1,024 $17,639 
Less 1:
Cost of goods sold4,297 2,864 4,558 — 11,719 
SG&A/R&D 2
525 486 742 223 1,976 
Other segment items 3
7 14 — 635 656 
Segment Profit$1,174 $508 $1,440 $166 $3,288 
Year ended December 31, 2024
Sales and revenues$25,455 $15,745 $25,506 $4,053 $70,759 
Less 1:
Cost of goods sold17,326 11,170 17,004 — 45,500 
SG&A/R&D 2
1,931 1,819 2,882 771 7,403 
Other segment items 3
33 80 22 2,350 2,485 
Segment Profit$6,165 $2,676 $5,598 $932 $15,371 
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/Power & Energy – 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.

6




For the three months ended March 31, June 30, September 30, and December 31, 2025, and 2024 and years ended December 31, 2025, and 2024, profit from reportable segments reconciled to consolidated profit before taxes were as follows:

Reconciliation of Consolidated profit before taxes:
(Millions of dollars)
2025
Three months ended
March 31,		Three months ended
June 30,		Three months ended
September 30,		Three months ended
December 31,		Year ended
December 31,
Total profit from reportable segments$3,150 $3,609 $3,795 $3,494 $14,048 
Profit from All Other Segment(19)— (6)17 (8)
Cost centers4 (10)6 (11)(11)
Corporate costs(213)(211)(308)(274)(1,006)
Timing(7)(76)(119)27 (175)
Restructuring costs(33)(56)(37)(319)(445)
Methodology differences:
Inventory/cost of sales(27)(21)56 41 49 
Postretirement benefit income (expense)14 (67)(63)301185 
Stock-based compensation expense(45)(85)(66)(34)(230)
Financing costs(46)(68)(54)(12)(180)
Currency(54)(95)18 50 (81)
Goodwill impairment charge— — — — — 
Other income/expense methodology differences(142)(86)(89)(153)(470)
Other methodology differences(12)(16)(6)(101)(135)
Total consolidated profit before taxes$2,570 $2,818 $3,127 $3,026 $11,541 
2024
Three months ended
March 31,		Three months ended
June 30,		Three months ended
September 30,		Three months ended
December 31,		Year ended
December 31,
Total profit from reportable segments$4,086 $4,212 $3,785 $3,288 $15,371 
Profit from All Other Segment25 20 (13)11 43 
Cost centers14 (2)(5)(8)(1)
Corporate costs(201)(276)(205)(207)(889)
Timing(67)82 (3)121 133 
Restructuring costs6 (258)(70)(37)(359)
Methodology differences:
Inventory/cost of sales(6)9 13 17 33 
Postretirement benefit income (expense)(56)1 (51)173 67 
Stock-based compensation expense(44)(75)(52)(52)(223)
Financing costs(28)(41)(42)(15)(126)
Currency87 21 (79)116 145 
Goodwill impairment charge— — — — — 
Other income/expense methodology differences(250)(168)(166)(156)(740)
Other methodology differences(34)(25)(14)(8)(81)
Total consolidated profit before taxes$3,532 $3,500 $3,098 $3,243 $13,373 

7




For the years ended December 31, 2025, and 2024, assets from reportable segments reconciled to consolidated assets were as follows:

Reconciliation of Assets:
(Millions of dollars)
Year ended December 31,
20252024
Assets from reportable segments:
Construction Industries$5,442 $5,546 
Resource Industries9,036 9,009 
Power & Energy8,438 8,845 
Financial Products Segment41,476 36,925 
Total assets from reportable segments64,392 60,325 
Assets from All Other Segment1,516 1,403 
Items not included in segment assets:
Cash and cash equivalents9,333 6,165 
Deferred income taxes2,749 3,194 
Goodwill and intangible assets4,669 4,478 
Property, plant and equipment – net and other assets4,689 4,808 
Inventory methodology differences(3,622)(3,560)
Liabilities included in segment assets15,330 11,973 
Other(471)(1,022)
Total assets$98,585 $87,764 


8




For the three months ended March 31, June 30, September 30, and December 31, 2025, and 2024 and years ended December 31, 2025, and 2024, depreciation and amortization from reportable segments reconciled to consolidated depreciation and amortization were as follows:

Reconciliation of Depreciation and amortization:
(Millions of dollars)
2025
Three months ended
March 31,		Three months ended
June 30,		Three months ended
September 30,		Three months ended
December 31,		Year ended
December 31,
Depreciation and amortization from reportable segments:
   Construction Industries$63 $66 $67 $70 $266 
   Resource Industries97 99 100 99 395 
   Power & Energy116 121 132 149 518 
   Financial Products Segment178 178 178 185 719 
Total depreciation and amortization from reportable segments454 464 477 503 1,898 
Items not included in segment depreciation and amortization:
All Other Segment63 66 68 70 267 
Cost centers24 25 26 28 103 
Other(1)(1)(1)(3)(6)
Total depreciation and amortization$540 $554 $570 $598 $2,262 
2024
Three months ended
March 31,		Three months ended
June 30,		Three months ended
September 30,		Three months ended
December 31,		Year ended
December 31,
Depreciation and amortization from reportable segments:
Construction Industries$56 $57 $60 $60 $233 
Resource Industries93 94 95 99 381 
Power & Energy100 104 110 113 427 
Financial Products Segment185 185 184 186 740 
Total depreciation and amortization from reportable segments434 440 449 458 1,781 
Items not included in segment depreciation and amortization:
All Other Segment67 70 71 76 284 
Cost centers23 24 25 23 95 
Other— (3)(2)(2)(7)
Total depreciation and amortization$524 $531 $543 $555 $2,153 


9




For the three months ended March 31, June 30, September 30, and December 31, 2025, and 2024 and years ended December 31, 2025, and 2024, capital expenditures from reportable segments reconciled to consolidated capital expenditures were as follows:

Reconciliation of Capital expenditures:  
(Millions of dollars)
2025
Three months ended
March 31,		Three months ended
June 30,		Three months ended
September 30,		Three months ended
December 31,		Year ended
December 31,
Capital expenditures from reportable segments:
Construction Industries$46 $64 $86 $162 $358 
Resource Industries110 111 162 243 626 
Power & Energy240 374 368 519 1,501 
Financial Products Segment170 379 359 433 1,341 
Total capital expenditures from reportable segments566 928 975 1,357 3,826 
Items not included in segment capital expenditures:
All Other Segment36 59 72 87 254 
Cost centers27 35 38 (2)98 
Timing295 (70)(6)(197)22 
Other(6)3 (8)97 86 
Total capital expenditures$918 $955 $1,071 $1,342 $4,286 
2024
Three months ended
March 31,		Three months ended
June 30,		Three months ended
September 30,		Three months ended
December 31,		Year ended
December 31,
Capital expenditures from reportable segments:
Construction Industries$58 $55 $66 $144 $323 
Resource Industries45 115 90 210 460 
Power & Energy104 186 257 500 1,047 
Financial Products Segment234 320 264 267 1,085 
Total capital expenditures from reportable segments441 676 677 1,121 2,915 
Items not included in segment capital expenditures:
All Other Segment36 65 73 111 285 
Cost centers30 24 60 79 193 
Timing245 (37)(71)(286)(149)
Other(16)(9)(16)12 (29)
Total capital expenditures$736 $719 $723 $1,037 $3,215 

10

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