Caterpillar Inc.

NYSE-CAT

Operating Activities	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24
Net Income	2,299	2,179	2,003	2,790	2,463	2,681
Profit of Consolidated and Affiliated Companies
Depreciation & Amortization	570	554	540	555	543	531
Depreciation and Amortization
Other Adjustments	-267	228	60	-103	-157	259
Actuarial Gain on Pension and Postretirement Benefits
Provision for Deferred Income Taxes
Gain on Divestiture
Goodwill Impairment Charge
Other
Changes in Trade Receivables	-1,696	-474	155	-130	215	-164
Receivables - Trade and Other
Changes in Inventories	2,725	-649	-990	367	-138	-204
Inventories
Changes in Accounts Payable	-922	572	401	-186	-75	-224
Accounts Payable
Changes in Accrued Expenses	2,170	525	-1,342	490	325	505
Accrued Expenses
Accrued Wages, Salaries and Employee Benefits
Changes in Unearned Revenue	-1,414	563	713	-106	135	62
Customer Advances
Changes in Other Operating Activities	272	-396	-231	-284	181	-425
Other Assets - Net
Other Liabilities - Net
Cash from Operating Activities	3,737	3,122	1,289	3,393	3,569	3,021
Net Cash Provided by Operating Activities

Investing Activities	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24
Capital Expenditure	-1,071	-955	-918	-1,037	-723	-719
Capital Expenditures - Excluding Equipment Leased to Others
Expenditures for Equipment Leased to Others
Proceeds from Sale of Property, Plant & Equipment	179	216	149	181	199	187
Proceeds from Disposals of Leased Assets and Property, Plant and Equipment
Purchases of Investments	-4,573	-4,296	-3,386	-4,555	-4,380	-4,438
Additions to Finance Receivables
Investments in Securities
Proceeds from Sale of Investments	4,116	3,766	3,979	3,702	3,790	4,334
Collections of Finance Receivables
Proceeds from Sale of Finance Receivables
Proceeds from Maturities and Sale of Securities
Payments for Business Acquisitions	-5	-19	-2	-2	-1	-32
Investments and Acquisitions, Net of Cash Acquired
Proceeds from Business Divestments	—	6	12	6	-6	-103
Proceeds from Sale of Businesses and Investments (Net of Cash Sold)
Other Investing Activities	34	-44	-9	56	80	49
Other - Net
Cash from Investing Activities	-1,320	-1,332	-175	-1,649	-1,040	-722
Net Cash Provided by Investing Activities

Financing Activities	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24
Issuance of Long-Term Debt	2,747	3,074	2,633	2,704	3,428	1,420
Machinery, Energy & Transportation
Financial Products
Repayments of Long-Term Debt	-2,037	-2,371	-1,797	-2,454	-1,645	-3,647
Machinery, Energy & Transportation
Financial Products
Net Issuance / (Repayments) of Long-Term Debt	710	703	836	250	1,783	-2,227
Issuance of Common Shares	20	-59	—	5	7	16
Common Stock Issued, and Other Stock Compensation Transactions, Net
Repurchases of Common Shares	-362	-901	-3,660	-680	-802	-1,820
Payments to Purchase Common Stock
Excise Tax Paid on Purchases of Common Stock
Net Issuance / (Repurchases) of Common Shares	-342	-960	-3,660	-675	-795	-1,804
Common Share Dividends Paid	-707	-662	-674	-680	-683	-635
Dividends Paid
Other Financing Activities	34	1,006	-934	679	-1,535.5	1,737
Distribution to Noncontrolling Interests
Excess Tax Benefit from Stock-Based Compensation
Short-Term Borrowings - Net (Original Maturities Three Months or Less)
Other - Net
Cash from Financing Activities	-305	151	-4,496	-426	-1,210	-2,929
Net Cash Provided by Financing Activities

Free Cash Flow	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24
Free Cash Flow	2,666	2,167	371	2,356	2,846	2,302
NOPAT	2,236.1	2,204.4	2,003	2,506.5	2,494.8	2,650.3
Levered Free Cash Flow	5,340	3,096	1,012	2,840	4,495	-20
Unlevered Free Cash Flow	4,566.1	2,418.4	176	2,305.5	2,742.8	2,176.3
Net Change in Cash	2,112	1,941	-3,382	1,318	1,319	-630