Caterpillar Inc.

NYSE-CAT

Operating Activities	Jun '25	Dec '24	Jun '24	Dec '23	Jun '23	Dec '22
Net Income	4,182	5,253	5,535	5,466	4,866	3,494
Profit of Consolidated and Affiliated Companies
Depreciation & Amortization	1,094	1,098	1,055	1,070	1,074	1,109
Depreciation and Amortization
Other Adjustments	288	-183	136	-65	323	877
Actuarial Gain on Pension and Postretirement Benefits
Provision for Deferred Income Taxes
Gain on Divestiture
Goodwill Impairment Charge
Other
Changes in Trade Receivables	-319	85	-245	28	-465	-503
Receivables - Trade and Other
Changes in Inventories	-1,639	229	-643	1,196	-1,560	-586
Inventories
Changes in Accounts Payable	973	-261	-21	-788	34	371
Accounts Payable
Changes in Accrued Expenses	-817	815	-987	1,463	-181	932
Accrued Expenses
Accrued Wages, Salaries and Employee Benefits
Changes in Unearned Revenue	1,276	29	341	-204	284	254
Customer Advances
Changes in Other Operating Activities	-627	-103	-98	-103	447	-728
Other Assets - Net
Other Liabilities - Net
Cash from Operating Activities	4,411	6,962	5,073	8,063	4,822	5,220
Net Cash Provided by Operating Activities

Investing Activities	Jun '25	Dec '24	Jun '24	Dec '23	Jun '23	Dec '22
Capital Expenditure	-1,873	-1,760	-1,455	-1,635	-1,457	-1,325
Capital Expenditures - Excluding Equipment Leased to Others
Expenditures for Equipment Leased to Others
Proceeds from Sale of Property, Plant & Equipment	365	380	342	413	368	362
Proceeds from Disposals of Leased Assets and Property, Plant and Equipment
Purchases of Investments	-7,682	-8,935	-7,969	-11,515	-8,051	-7,493
Additions to Finance Receivables
Investments in Securities
Proceeds from Sale of Investments	7,745	7,492	9,354	8,737	7,251	7,873
Collections of Finance Receivables
Proceeds from Sale of Finance Receivables
Proceeds from Maturities and Sale of Securities
Payments for Business Acquisitions	-21	-2	-32	-55	-20	-52
Investments and Acquisitions, Net of Cash Acquired
Proceeds from Business Divestments	12	—	-61	10	-14	—
Proceeds from Sale of Businesses and Investments (Net of Cash Sold)
Other Investing Activities	-53	136	57	56	41	-18
Other - Net
Cash from Investing Activities	-1,507	-2,689	236	-3,989	-1,882	-653
Net Cash Provided by Investing Activities

Financing Activities	Jun '25	Dec '24	Jun '24	Dec '23	Jun '23	Dec '22
Issuance of Long-Term Debt	5,707	6,132	4,151	4,958	3,299	2,659
Machinery, Energy & Transportation
Financial Products
Repayments of Long-Term Debt	-4,168	-4,099	-5,217	-4,015	-2,303	-3,482
Machinery, Energy & Transportation
Financial Products
Net Issuance / (Repayments) of Long-Term Debt	1,539	2,033	-1,066	943	996	-823
Issuance of Common Shares	-59	12	8	34	-22	47
Common Stock Issued, and Other Stock Compensation Transactions, Net
Repurchases of Common Shares	-4,561	-1,462	-6,275	-3,146	-1,829	-2,306
Payments to Purchase Common Stock
Excise Tax Paid on Purchases of Common Stock
Net Issuance / (Repurchases) of Common Shares	-4,620	-1,450	-6,267	-3,112	-1,851	-2,259
Common Share Dividends Paid	-1,336	-1,363	-1,283	-1,325	-1,238	-1,253
Dividends Paid
Other Financing Activities	72	-856	687	-939	-406	945
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	-4,345	-1,636	-7,929	-4,433	-2,499	-3,390
Net Cash Provided by Financing Activities