# EDGAR Filing Document

**Accession Number:** 0000018230
**File Stem:** 0000018230-26-000013
**Filing Date:** 2026-3
**Character Count:** 67350
**Document Hash:** af095f15370dccc5ebbdf9f5607a8ae4
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000018230-26-000013.hdr.sgml**: 20260326

**ACCESSION NUMBER**: 0000018230-26-000013

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 26

**CONFORMED PERIOD OF REPORT**: 20260326

**ITEM INFORMATION**: Other Events

**FILED AS OF DATE**: 20260326

**DATE AS OF CHANGE**: 20260326

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** CATERPILLAR INC
- **CENTRAL INDEX KEY:** 0000018230
- **STANDARD INDUSTRIAL CLASSIFICATION:** CONSTRUCTION MACHINERY & EQUIP [3531]
- **ORGANIZATION NAME:** 06 Technology
- **EIN:** 370602744
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-00768
- **FILM NUMBER:** 26799265

**BUSINESS ADDRESS:**
- **STREET 1:** 5205 N. O'CONNOR BOULEVARD
- **STREET 2:** SUITE 100
- **CITY:** IRVING
- **STATE:** TX
- **ZIP:** 75039
- **BUSINESS PHONE:** 9728917700

**MAIL ADDRESS:**
- **STREET 1:** 5205 N. O'CONNOR BOULEVARD
- **STREET 2:** SUITE 100
- **CITY:** IRVING
- **STATE:** TX
- **ZIP:** 75039

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** CATERPILLAR TRACTOR CO
- **DATE OF NAME CHANGE:** 19860623

?xml version='1.0' encoding='ASCII'? cat-20260326

---

| | | |
|:---|:---|:---|
| UNITED STATES <br>SECURITIES AND EXCHANGE COMMISSION <br>Washington, D.C. 20549 | UNITED STATES <br>SECURITIES AND EXCHANGE COMMISSION <br>Washington, D.C. 20549 | UNITED STATES <br>SECURITIES AND EXCHANGE COMMISSION <br>Washington, D.C. 20549 |
| ![caterpillarlogo.jpg](cat-20260326_g1.jpg) | ![caterpillarlogo.jpg](cat-20260326_g1.jpg) | ![caterpillarlogo.jpg](cat-20260326_g1.jpg) |
| **FORM 8-K** | **FORM 8-K** | **FORM 8-K** |
| Current Report | Current Report | Current Report |
| Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 | Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 | Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 |
| Date of Report (Date of earliest event reported): March 26, 2026 | Date of Report (Date of earliest event reported): March 26, 2026 | Date of Report (Date of earliest event reported): March 26, 2026 |
| **CATERPILLAR INC.**  | **CATERPILLAR INC.**  | **CATERPILLAR INC.**  |
| (Exact name of registrant as specified in its charter) | (Exact name of registrant as specified in its charter) | (Exact name of registrant as specified in its charter) |
| **Delaware** | **1-768** | **37-0602744** |
| (State or other jurisdiction of incorporation) | (Commission File Number) | (I.R.S Employer Identification No.) |

---

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| | | | | |
|:---|:---|:---|:---|:---|
| **5205 N. O'Connor Blvd.,** | **Suite 100,** | **Irving,** | **Texas** | **75039** |
| (Address of principal executive offices) | (Address of principal executive offices) | (Address of principal executive offices) | | (Zip Code) |
| Registrant's telephone number, including area code: | Registrant's telephone number, including area code: | **(972) 891-7700** | **(972) 891-7700** | **(972) 891-7700** |
| Former name or former address, if changed since last report: | Former name or former address, if changed since last report: | Former name or former address, if changed since last report: | **N/A** | **N/A** |

---

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| | ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| | ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| | ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
| Securities registered pursuant to Section 12(b) of the Act: | Securities registered pursuant to Section 12(b) of the Act: | Securities registered pursuant to Section 12(b) of the Act: | Securities registered pursuant to Section 12(b) of the Act: | Securities registered pursuant to Section 12(b) of the Act: | Securities registered pursuant to Section 12(b) of the Act: |
| **Title of each class** | **Title of each class** | **Title of each class** | **Trading Symbol (s)** | **Name of each exchange which registered** | **Name of each exchange which registered** |
| Common Stock ($1.00 par value) | Common Stock ($1.00 par value) | Common Stock ($1.00 par value) | CAT | The New York Stock Exchange | The New York Stock Exchange |
| 5.3% Debentures due September 15, 2035 | 5.3% Debentures due September 15, 2035 | 5.3% Debentures due September 15, 2035 | CAT35 | The New York Stock Exchange | The New York Stock Exchange |
| Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: | Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: | Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: | Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: | Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: | Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: |
| Indicate by check mark whether the registrant is an emerging growth company as defined by Rule 405 of the Securities Act of 1933 (17 CFR §230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2 of this chapter). | Indicate by check mark whether the registrant is an emerging growth company as defined by Rule 405 of the Securities Act of 1933 (17 CFR §230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2 of this chapter). | Indicate by check mark whether the registrant is an emerging growth company as defined by Rule 405 of the Securities Act of 1933 (17 CFR §230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2 of this chapter). | Indicate by check mark whether the registrant is an emerging growth company as defined by Rule 405 of the Securities Act of 1933 (17 CFR §230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2 of this chapter). | Indicate by check mark whether the registrant is an emerging growth company as defined by Rule 405 of the Securities Act of 1933 (17 CFR §230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2 of this chapter). | Indicate by check mark whether the registrant is an emerging growth company as defined by Rule 405 of the Securities Act of 1933 (17 CFR §230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2 of this chapter). |
| Emerging growth company | Emerging growth company | Emerging growth company | Emerging growth company | Emerging growth company | ☐ |
| If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. | If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. | If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. | If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. | If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. | ☐ |

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**Item 7.01. Regulation FD Disclosure**.

As previously announced on November 4, 2025, Caterpillar Inc. (the "Company") realigned its organizational structure by moving its Rail division from the Power & Energy segment into the Resource Industries segment. The Company implemented this change effective January 1, 2026, to better reflect its organizational and operational structure and align with how our chief executive officer, who serves as the Company's chief operating decision maker (CODM), assesses performance and allocates resources.

For informational purposes and to assist investors in making comparisons between historical and future financial information that will reflect the revised reporting segments, the Company has furnished selected historical, unaudited quarterly segment financial information reflecting this realignment. This information is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is also available on the Company's investor relations website at http://investors.caterpillar.com.

**Unaudited Historical Operating Segment Data**

Exhibit 99.1 to this Current Report on Form 8-K reflects the impact of the Rail division realignment on the Company's historical segment results on a continuing operations basis. The recast information also reflects certain segment reporting changes previously disclosed in the Company's Form 10-Q for the three and nine months ended September 30, 2025 and the 2025 Form 10-K, including transfers of specified responsibilities among segments.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Responsibility for business strategy, product design, product management and development, manufacturing, marketing and sales, product support and sourcing of wear and maintenance components and related parts moved from All Other Segment to Resource Industries.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Responsibility for research and development for autonomy and automation, electronics and software for machines and engines moved from Resource Industries to the All Other Segment.

The recast information remains subject to additional adjustments as the Company finalizes the new reporting structure related to the Rail division realignment. Investors are cautioned that this information is unaudited. The changes in reporting structure affect only the presentation of historical segment information and have no impact on the Company's previously reported consolidated financial statements.

Certain updates made to previously communicated forward-looking statements made by the Company are furnished in Exhibit 99.2 to this Current Report on Form 10-K.

The information in this Current Report on Form 8-K, including Exhibit 99.1 and 99.2, should be read in conjunction with the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2025, which was filed with the Securities and Exchange Commission on February 13, 2026.

The information contained in this Item 7.01 shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the"Exchange Act"), or otherwise subject to the liabilities under that section and shall not be deemed incorporated by reference into any filing under the Exchange Act or the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.

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**Item 9.01. Financial Statements and Exhibits.**

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| | | |
|:---|:---|:---|
| (d) | Exhibits: | Exhibits: |
| | The following is furnished as an exhibit to this report: | The following is furnished as an exhibit to this report: |
| | 99.1 | <u>[Unaudited Historical Financial Information](cat-20260326_d2.htm)</u> |
| | 99.2 | <u>[Previously Communicated Forward-Looking Assumptions](cat_exx992-previouslycommu.htm)</u> |
| | 104 | The cover page from this Current Report on Form 8-K, formatted in Inline XBRL. |

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| | | |
|:---|:---|:---|
| **SIGNATURES** | **SIGNATURES** | **SIGNATURES** |
| Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. | Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. | Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. |
|  | **CATERPILLAR INC.** | **CATERPILLAR INC.** |
| March 26, 2026 | By: | */s/ Derek Owens* |
|  |  | Derek Owens<br>Chief Legal Officer and General Counsel |

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## Exhibit 99.1

?xml version='1.0' encoding='ASCII'? cat-20260326_d2

**Exhibit 99.1**

![catlogonew.jpg](cat-20260326_g2.jpg)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

 **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:

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Sales and Revenues by Geographic Region** | | | | | | | | |
| **(Millions of dollars)** | | | | | | | | |
| |<br>**North<br> America** |<br>**Latin<br> America** |<br>**EAME** |<br>**Asia/<br> Pacific** |<br>**External Sales and Revenues** | |<br>**Intersegment Sales and Revenues** |<br>**Total Sales and Revenues** |
| **<u>Three months ended March 31, 2025</u>** | | | | | | | | |
| &nbsp;&nbsp;&nbsp;&nbsp;Construction Industries | $2904 | $504 | $867 | $869 | $5144 |  | $40 | $5184 |
| &nbsp;&nbsp;&nbsp;&nbsp;Resource Industries | 1610 | 606 | 510 | 860 | 3586 |  | 75 | 3661 |
| &nbsp;&nbsp;&nbsp;&nbsp;Power & Energy | 2625 | 326 | 1026 | 677 | 4654 |  | 1129 | 5783 |
| &nbsp;&nbsp;&nbsp;&nbsp;Financial Products Segment | 682 | 99 | 122 | 104 | 1007 | <sup>1</sup> |  | 1007 |
| Total sales and revenues from reportable segments | 7821 | 1535 | 2525 | 2510 | 14391 |  | 1244 | 15635 |
| &nbsp;&nbsp;&nbsp;&nbsp;All Other Segment | 8 |  | 1 | 2 | 11 |  | 59 | 70 |
| &nbsp;&nbsp;&nbsp;&nbsp;Corporate Items and Eliminations | (91) | (20) | (20) | (22) | (153) |  | (1303) | (1456) |
| **Total Sales and Revenues** | $**7738** | $**1515** | $**2506** | $**2490** | $**14249** |  | $**—** | $**14249** |
| <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $163 million. | <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $163 million. | <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $163 million. | <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $163 million. | <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $163 million. | <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $163 million. | <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $163 million. | <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $163 million. | <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $163 million. |
| **<u>Three months ended June 30, 2025</u>** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Construction Industries | $3369 | $540 | $1185 | $1029 | $6123 |  | $67 | $6190 |
| &nbsp;&nbsp;&nbsp;&nbsp;Resource Industries | 1668 | 592 | 584 | 945 | 3789 |  | 97 | 3886 |
| &nbsp;&nbsp;&nbsp;&nbsp;Power & Energy | 3225 | 442 | 1306 | 821 | 5794 |  | 1243 | 7037 |
| &nbsp;&nbsp;&nbsp;&nbsp;Financial Products Segment | 703 | 105 | 126 | 108 | 1042 | <sup>1</sup> |  | 1042 |
| Total sales and revenues from reportable segments | 8965 | 1679 | 3201 | 2903 | 16748 |  | 1407 | 18155 |
| &nbsp;&nbsp;&nbsp;&nbsp;All Other Segment | 6 |  | 1 | 6 | 13 |  | 72 | 85 |
| &nbsp;&nbsp;&nbsp;&nbsp;Corporate Items and Eliminations | (120) | (23) | (22) | (27) | (192) |  | (1479) | (1671) |
| **Total Sales and Revenues** | $**8851** | $**1656** | $**3180** | $**2882** | $**16569** |  | $**—** | $**16569** |
| <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $172 million. | <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $172 million. | <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $172 million. | <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $172 million. | <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $172 million. | <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $172 million. | <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $172 million. | <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $172 million. | <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $172 million. |
| **<u>Three months ended September 30, 2025</u>** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Construction Industries | $3912 | $654 | $1217 | $904 | $6687 |  | $73 | $6760 |
| &nbsp;&nbsp;&nbsp;&nbsp;Resource Industries | 1721 | 605 | 612 | 977 | 3915 |  | 84 | 3999 |
| &nbsp;&nbsp;&nbsp;&nbsp;Power & Energy | 3478 | 496 | 1296 | 911 | 6181 |  | 1282 | 7463 |
| &nbsp;&nbsp;&nbsp;&nbsp;Financial Products Segment | 722 | 118 | 130 | 106 | 1076 | <sup>1</sup> |  | 1076 |
| Total sales and revenues from reportable segments | 9833 | 1873 | 3255 | 2898 | 17859 |  | 1439 | 19298 |
| &nbsp;&nbsp;&nbsp;&nbsp;All Other Segment | 5 |  | 2 | 3 | 10 |  | 63 | 73 |
| &nbsp;&nbsp;&nbsp;&nbsp;Corporate Items and Eliminations | (157) | (23) | (26) | (25) | (231) |  | (1502) | (1733) |
| **Total Sales and Revenues** | $**9681** | $**1850** | $**3231** | $**2876** | $**17638** |  | $**—** | $**17638** |
| <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $187 million. | <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $187 million. | <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $187 million. | <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $187 million. | <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $187 million. | <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $187 million. | <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $187 million. | <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $187 million. | <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $187 million. |

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **North<br> America** | **Latin<br> America** | **EAME** | **Asia/<br> Pacific** | **External Sales and Revenues** | | **Intersegment Sales and Revenues** | **Total Sales and Revenues** |
| **<u>Three months ended December 31, 2025</u>** | | | | | | | | |
| &nbsp;&nbsp;&nbsp;&nbsp;Construction Industries | $3879 | $660 | $1326 | $981 | $6846 |  | $80 | $6926 |
| &nbsp;&nbsp;&nbsp;&nbsp;Resource Industries | 1884 | 747 | 680 | 980 | 4291 |  | 83 | 4374 |
| &nbsp;&nbsp;&nbsp;&nbsp;Power & Energy | 3990 | 464 | 1763 | 901 | 7118 |  | 1223 | 8341 |
| &nbsp;&nbsp;&nbsp;&nbsp;Financial Products Segment | 734 | 120 | 133 | 108 | 1095 | <sup>1</sup> |  | 1095 |
| Total sales and revenues from reportable segments | 10487 | 1991 | 3902 | 2970 | 19350 |  | 1386 | 20736 |
| &nbsp;&nbsp;&nbsp;&nbsp;All Other Segment | 7 |  | 2 | 3 | 12 |  | 87 | 99 |
| &nbsp;&nbsp;&nbsp;&nbsp;Corporate Items and Eliminations | (155) | (24) | (28) | (22) | (229) |  | (1473) | (1702) |
| **Total Sales and Revenues** | $**10339** | $**1967** | $**3876** | $**2951** | $**19133** |  | $**—** | $**19133** |
| <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of$190 million. | <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of$190 million. | <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of$190 million. | <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of$190 million. | <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of$190 million. | <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of$190 million. | <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of$190 million. | <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of$190 million. | <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of$190 million. |
| **<u>Year ended December 31, 2025</u>** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Construction Industries | $14064 | $2358 | $4595 | $3783 | $24800 |  | $260 | $25060 |
| &nbsp;&nbsp;&nbsp;&nbsp;Resource Industries | 6883 | 2550 | 2386 | 3762 | 15581 |  | 339 | 15920 |
| &nbsp;&nbsp;&nbsp;&nbsp;Power & Energy | 13318 | 1728 | 5391 | 3310 | 23747 |  | 4877 | 28624 |
| &nbsp;&nbsp;&nbsp;&nbsp;Financial Products Segment | 2841 | 442 | 511 | 426 | 4220 | <sup>1</sup> |  | 4220 |
| Total sales and revenues from reportable segments | 37106 | 7078 | 12883 | 11281 | 68348 |  | 5476 | 73824 |
| &nbsp;&nbsp;&nbsp;&nbsp;All Other Segment | 26 |  | 6 | 14 | 46 |  | 281 | 327 |
| &nbsp;&nbsp;&nbsp;&nbsp;Corporate Items and Eliminations | (523) | (90) | (96) | (96) | (805) |  | (5757) | (6562) |
| **Total Sales and Revenues** | $**36609** | $**6988** | $**12793** | $**11199** | $**67589** |  | $**—** | $**67589** |
| <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $712 million. | <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $712 million. | <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $712 million. | <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $712 million. | <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $712 million. | <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $712 million. | <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $712 million. | <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $712 million. | <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $712 million. |

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **<u>Three months ended March 31, 2024</u>** | | | | | | | | |
| &nbsp;&nbsp;&nbsp;&nbsp;Construction Industries | $3833 | $595 | $996 | $993 | $6417 |  | $7 | $6424 |
| &nbsp;&nbsp;&nbsp;&nbsp;Resource Industries | 1791 | 541 | 579 | 996 | 3907 |  | 108 | 4015 |
| &nbsp;&nbsp;&nbsp;&nbsp;Power & Energy | 2432 | 343 | 1182 | 740 | 4697 |  | 1165 | 5862 |
| &nbsp;&nbsp;&nbsp;&nbsp;Financial Products Segment | 659 | 101 | 123 | 108 | 991 | <sup>1</sup> |  | 991 |
| Total sales and revenues from reportable segments | 8715 | 1580 | 2880 | 2837 | 16012 |  | 1280 | 17292 |
| &nbsp;&nbsp;&nbsp;&nbsp;All Other Segment | 8 | (1) | 3 | 2 | 12 |  | 75 | 87 |
| &nbsp;&nbsp;&nbsp;&nbsp;Corporate Items and Eliminations | (150) | (20) | (31) | (24) | (225) |  | (1355) | (1580) |
| **Total Sales and Revenues** | $**8573** | $**1559** | $**2852** | $**2815** | $**15799** |  | $**—** | $**15799** |
| <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $177 million. | <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $177 million. | <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $177 million. | <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $177 million. | <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $177 million. | <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $177 million. | <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $177 million. | <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $177 million. | <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $177 million. |
| **<u>Three months ended June 30, 2024</u>** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Construction Industries | $3957 | $677 | $1047 | $975 | $6656 |  | $27 | $6683 |
| &nbsp;&nbsp;&nbsp;&nbsp;Resource Industries | 1734 | 571 | 585 | 1047 | 3937 |  | 93 | 4030 |
| &nbsp;&nbsp;&nbsp;&nbsp;Power & Energy | 2792 | 392 | 1279 | 824 | 5287 |  | 1230 | 6517 |
| &nbsp;&nbsp;&nbsp;&nbsp;Financial Products Segment | 668 | 101 | 124 | 111 | 1004 | <sup>1</sup> | **—** | 1004 |
| Total sales and revenues from reportable segments | 9151 | 1741 | 3035 | 2957 | 16884 |  | 1350 | 18234 |
| &nbsp;&nbsp;&nbsp;&nbsp;All Other Segment | 4 |  | 2 | 2 | 8 |  | 79 | 87 |
| &nbsp;&nbsp;&nbsp;&nbsp;Corporate Items and Eliminations | (112) | (22) | (40) | (29) | (203) |  | (1429) | (1632) |
| **Total Sales and Revenues** | $**9043** | $**1719** | $**2997** | $**2930** | $**16689** |  | $**—** | $**16689** |
| <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $180 million. | <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $180 million. | <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $180 million. | <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $180 million. | <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $180 million. | <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $180 million. | <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $180 million. | <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $180 million. | <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $180 million. |

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------

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **North<br> America** | **Latin<br> America** | **EAME** | **Asia/<br> Pacific** | **External Sales and Revenues** | | **Intersegment Sales and Revenues** | **Total Sales and Revenues** |
| **<u>Three months ended September 30, 2024</u>** | | | | | | | | |
| &nbsp;&nbsp;&nbsp;&nbsp;Construction Industries | $3629 | $658 | $1150 | $875 | $6312 |  | $33 | $6345 |
| &nbsp;&nbsp;&nbsp;&nbsp;Resource Industries | 1647 | 543 | 579 | 954 | 3723 |  | 105 | 3828 |
| &nbsp;&nbsp;&nbsp;&nbsp;Power & Energy | 2708 | 404 | 1351 | 773 | 5236 |  | 1151 | 6387 |
| &nbsp;&nbsp;&nbsp;&nbsp;Financial Products Segment | 695 | 97 | 130 | 112 | 1034 | <sup>1</sup> |  | 1034 |
| Total sales and revenues from reportable segments | 8679 | 1702 | 3210 | 2714 | 16305 |  | 1289 | 17594 |
| &nbsp;&nbsp;&nbsp;&nbsp;All Other Segment | 1 | (1) | 1 | 7 | 8 |  | 64 | 72 |
| &nbsp;&nbsp;&nbsp;&nbsp;Corporate Items and Eliminations | (135) | (23) | (12) | (37) | (207) |  | (1353) | (1560) |
| **Total Sales and Revenues** | $**8545** | $**1678** | $**3199** | $**2684** | $**16106** |  | $**—** | $**16106** |
| <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $190 million. | <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $190 million. | <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $190 million. | <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $190 million. | <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $190 million. | <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $190 million. | <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $190 million. | <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $190 million. | <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $190 million. |
| **<u>Three months ended December 31, 2024</u>** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Construction Industries | $3157 | $623 | $1122 | $1057 | $5959 |  | $44 | $6003 |
| &nbsp;&nbsp;&nbsp;&nbsp;Resource Industries | 1487 | 618 | 607 | 1052 | 3764 |  | 108 | 3872 |
| &nbsp;&nbsp;&nbsp;&nbsp;Power & Energy | 3011 | 429 | 1434 | 762 | 5636 |  | 1104 | 6740 |
| &nbsp;&nbsp;&nbsp;&nbsp;Financial Products Segment | 680 | 103 | 128 | 113 | 1024 | <sup>1</sup> |  | 1024 |
| Total sales and revenues from reportable segments | 8335 | 1773 | 3291 | 2984 | 16383 |  | 1256 | 17639 |
| &nbsp;&nbsp;&nbsp;&nbsp;All Other Segment | 7 |  | 1 |  | 8 |  | 90 | 98 |
| &nbsp;&nbsp;&nbsp;&nbsp;Corporate Items and Eliminations | (106) | (21) | (24) | (25) | (176) |  | (1346) | (1522) |
| **Total Sales and Revenues** | $**8236** | $**1752** | $**3268** | $**2959** | $**16215** |  | $**—** | $**16215** |
| <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $164 million. | <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $164 million. | <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $164 million. | <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $164 million. | <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $164 million. | <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $164 million. | <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $164 million. | <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $164 million. | <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $164 million. |
| **<u>Year ended December 31, 2024</u>** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Construction Industries | $14576 | $2553 | $4315 | $3900 | $25344 |  | $111 | $25455 |
| &nbsp;&nbsp;&nbsp;&nbsp;Resource Industries | 6659 | 2273 | 2350 | 4049 | 15331 |  | 414 | 15745 |
| &nbsp;&nbsp;&nbsp;&nbsp;Power & Energy | 10943 | 1568 | 5246 | 3099 | 20856 |  | 4650 | 25506 |
| &nbsp;&nbsp;&nbsp;&nbsp;Financial Products Segment | 2702 | 402 | 505 | 444 | 4053 | <sup>1</sup> |  | 4053 |
| Total sales and revenues from reportable segments | 34880 | 6796 | 12416 | 11492 | 65584 |  | 5175 | 70759 |
| &nbsp;&nbsp;&nbsp;&nbsp;All Other Segment | 20 | (2) | 7 | 11 | 36 |  | 308 | 344 |
| &nbsp;&nbsp;&nbsp;&nbsp;Corporate Items and Eliminations | (503) | (86) | (107) | (115) | (811) |  | (5483) | (6294) |
| **Total Sales and Revenues** | $**34397** | $**6708** | $**12316** | $**11388** | $**64809** |  | $**—** | $**64809** |
| <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $711 million. | <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $711 million. | <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $711 million. | <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $711 million. | <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $711 million. | <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $711 million. | <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $711 million. | <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $711 million. | <sup>1</sup> Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $711 million. |

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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:

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Power & Energy External Sales** | | | | | |
| **(Millions of dollars)** | | | | | |
|  | **2025** | **2025** | **2025** | **2025** | **2025** |
|  | **Three months ended <br>March 31,** | **Three months ended <br>June 30,** | **Three months ended <br>September 30,** | **Three months ended <br>December 31,** | **Year ended December 31,** |
| Oil and Gas | $1258 | $1867 | $1979 | $2398 | $7502 |
| Power Generation | 1996 | 2407 | 2634 | 3238 | 10275 |
| Industrial | 1400 | 1520 | 1568 | 1482 | 5970 |
| **Power & Energy External Sales** | $**4654** | $**5794** | $**6181** | $**7118** | $**23747** |
|  | **2024** | **2024** | **2024** | **2024** | **2024** |
|  | **Three months ended <br>March 31,** | **Three months ended <br>June 30,** | **Three months ended <br>September 30,** | **Three months ended <br>December 31,** | **Year ended December 31,** |
| Oil and Gas | $1568 | $1829 | $1656 | $1927 | $6980 |
| Power Generation | 1618 | 1885 | 2011 | 2242 | 7756 |
| Industrial | 1511 | 1573 | 1569 | 1467 | 6120 |
| **Power & Energy External Sales** | $**4697** | $**5287** | $**5236** | $**5636** | $**20856** |

---

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.

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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:

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Profit from Reportable Segments** | | | | | |
| **(Millions of dollars)** | | | | | |
| |<br>**Construction Industries** |<br>**Resource Industries** |<br>**Power & Energy** |<br>**Financial Products Segment** |<br>**Total from Reportable Segments** |
| **<u>Three months ended March 31, 2025</u>** | | | | | |
| Sales and revenues | $5184 | $3661 | $5783 | $1007 | $15635 |
| Less <sup>1</sup>:  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cost of goods sold | 3718 | 2612 | 3834 |  | 10164 |
| &nbsp;&nbsp;&nbsp;&nbsp;SG&A/R&D <sup>2</sup> | 451 | 439 | 691 | 195 | 1776 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other segment items <sup>3</sup> | (9) | (13) | (30) | 597 | 545 |
| **Segment Profit** | $**1024** | $**623** | $**1288** | $**215** | $**3150** |
| **<u>Three months ended June 30, 2025</u>** |  |  |  |  |  |
| Sales and revenues | $6190 | $3886 | $7037 | $1042 | $18155 |
| Less <sup>1</sup>:  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cost of goods sold | 4459 | 2851 | 4751 |  | 12061 |
| &nbsp;&nbsp;&nbsp;&nbsp;SG&A/R&D <sup>2</sup> | 470 | 465 | 730 | 204 | 1869 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other segment items <sup>3</sup> | 17 | 7 | 2 | 590 | 616 |
| **Segment Profit** | $**1244** | $**563** | $**1554** | $**248** | $**3609** |
| **<u>Three months ended September 30, 2025</u>** |  |  |  |  |  |
| Sales and revenues | $6760 | $3999 | $7463 | $1076 | $19298 |
| Less <sup>1</sup>:  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cost of goods sold | 4874 | 2994 | 5101 |  | 12969 |
| &nbsp;&nbsp;&nbsp;&nbsp;SG&A/R&D <sup>2</sup> | 472 | 461 | 724 | 215 | 1872 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other segment items <sup>3</sup> | 37 |  | 5 | 620 | 662 |
| **Segment Profit** | $**1377** | $**544** | $**1633** | $**241** | $**3795** |
| **<u>Three months ended December 31, 2025</u>** |  |  |  |  |  |
| Sales and revenues | $6926 | $4374 | $8341 | $1095 | $20736 |
| Less <sup>1</sup>:  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cost of goods sold | 5342 | 3441 | 5777 |  | 14560 |
| &nbsp;&nbsp;&nbsp;&nbsp;SG&A/R&D <sup>2</sup> | 509 | 506 | 828 | 215 | 2058 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other segment items <sup>3</sup> | 45 | 6 | (45) | 618 | 624 |
| **Segment Profit** | $**1030** | $**421** | $**1781** | $**262** | $**3494** |
| **<u>Year ended December 31, 2025</u>** |  |  |  |  |  |
| Sales and revenues | $25060 | $15920 | $28624 | $4220 | $73824 |
| Less <sup>1</sup>:  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cost of goods sold | 18393 | 11898 | 19463 |  | 49754 |
| &nbsp;&nbsp;&nbsp;&nbsp;SG&A/R&D <sup>2</sup> | 1902 | 1871 | 2973 | 829 | 7575 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other segment items <sup>3</sup> | 90 |  | (68) | 2425 | 2447 |
| **Segment Profit** | $**4675** | $**2151** | $**6256** | $**966** | $**14048** |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Construction Industries** | **Resource Industries** | **Power & Energy** | **Financial Products Segment** | **Total from Reportable Segments** |
| **<u>Three months ended March 31, 2024</u>** | | | | | |
| Sales and revenues | $6424 | $4015 | $5862 | $991 | $17292 |
| Less <sup>1</sup>:  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cost of goods sold | 4210 | 2807 | 3888 |  | 10905 |
| &nbsp;&nbsp;&nbsp;&nbsp;SG&A/R&D <sup>2</sup> | 446 | 435 | 687 | 173 | 1741 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other segment items <sup>3</sup> | 4 | 21 | 10 | 525 | 560 |
| **Segment Profit** | $**1764** | $**752** | $**1277** | $**293** | $**4086** |
| **<u>Three months ended June 30, 2024</u>** |  |  |  |  |  |
| Sales and revenues | $6683 | $4030 | $6517 | $1004 | $18234 |
| Less <sup>1</sup>:  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cost of goods sold | 4470 | 2808 | 4316 |  | 11594 |
| &nbsp;&nbsp;&nbsp;&nbsp;SG&A/R&D <sup>2</sup> | 477 | 434 | 712 | 182 | 1805 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other segment items <sup>3</sup> | (5) | 25 | 8 | 595 | 623 |
| **Segment Profit** | $**1741** | $**763** | $**1481** | $**227** | $**4212** |
| **<u>Three months ended September 30, 2024</u>** |  |  |  |  |  |
| Sales and revenues | $6345 | $3828 | $6387 | $1034 | $17594 |
| Less <sup>1</sup>:  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cost of goods sold | 4349 | 2691 | 4242 |  | 11282 |
| &nbsp;&nbsp;&nbsp;&nbsp;SG&A/R&D <sup>2</sup> | 483 | 464 | 741 | 193 | 1881 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other segment items <sup>3</sup> | 27 | 20 | 4 | 595 | 646 |
| **Segment Profit** | $**1486** | $**653** | $**1400** | $**246** | $**3785** |
| **<u>Three months ended December 31, 2024</u>** |  |  |  |  |  |
| Sales and revenues | $6003 | $3872 | $6740 | $1024 | $17639 |
| Less <sup>1</sup>:  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cost of goods sold | 4297 | 2864 | 4558 |  | 11719 |
| &nbsp;&nbsp;&nbsp;&nbsp;SG&A/R&D <sup>2</sup> | 525 | 486 | 742 | 223 | 1976 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other segment items <sup>3</sup> | 7 | 14 |  | 635 | 656 |
| **Segment Profit** | $**1174** | $**508** | $**1440** | $**166** | $**3288** |
| **<u>Year ended December 31, 2024</u>** |  |  |  |  |  |
| Sales and revenues | $25455 | $15745 | $25506 | $4053 | $70759 |
| Less <sup>1</sup>:  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cost of goods sold | 17326 | 11170 | 17004 |  | 45500 |
| &nbsp;&nbsp;&nbsp;&nbsp;SG&A/R&D <sup>2</sup> | 1931 | 1819 | 2882 | 771 | 7403 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other segment items <sup>3</sup> | 33 | 80 | 22 | 2350 | 2485 |
| **Segment Profit** | $**6165** | $**2676** | $**5598** | $**932** | $**15371** |
| <sup>1</sup> 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.  | <sup>1</sup> 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.  | <sup>1</sup> 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.  | <sup>1</sup> 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.  | <sup>1</sup> 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.  | <sup>1</sup> 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.  |
| <sup>2</sup> 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. | <sup>2</sup> 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. | <sup>2</sup> 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. | <sup>2</sup> 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. | <sup>2</sup> 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. | <sup>2</sup> 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. |
| &nbsp;&nbsp;<sup>3</sup> Other segment items for each reportable segment primarily includes:<br>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.<br>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. | &nbsp;&nbsp;<sup>3</sup> Other segment items for each reportable segment primarily includes:<br>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.<br>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. | &nbsp;&nbsp;<sup>3</sup> Other segment items for each reportable segment primarily includes:<br>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.<br>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. | &nbsp;&nbsp;<sup>3</sup> Other segment items for each reportable segment primarily includes:<br>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.<br>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. | &nbsp;&nbsp;<sup>3</sup> Other segment items for each reportable segment primarily includes:<br>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.<br>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. | &nbsp;&nbsp;<sup>3</sup> Other segment items for each reportable segment primarily includes:<br>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.<br>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. |

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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:

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Reconciliation of Consolidated profit before taxes:** | **Reconciliation of Consolidated profit before taxes:** | **Reconciliation of Consolidated profit before taxes:** | **Reconciliation of Consolidated profit before taxes:** | **Reconciliation of Consolidated profit before taxes:** | **Reconciliation of Consolidated profit before taxes:** |
| **(Millions of dollars)** | | | | | |
|  | **2025** | **2025** | **2025** | **2025** | **2025** |
|  | **Three months ended <br>March 31,** | **Three months ended <br>June 30,** | **Three months ended <br>September 30,** | **Three months ended <br>December 31,** | **Year ended <br>December 31,** |
| Total profit from reportable segments | $3150 | $3609 | $3795 | $3494 | $14048 |
| Profit from All Other Segment | (19) |  | (6) | 17 | (8) |
| Cost centers | 4 | (10) | 6 | (11) | (11) |
| Corporate costs | (213) | (211) | (308) | (274) | (1006) |
| Timing | (7) | (76) | (119) | 27 | (175) |
| Restructuring costs | (33) | (56) | (37) | (319) | (445) |
| Methodology differences: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Inventory/cost of sales | (27) | (21) | 56 | 41 | 49 |
| &nbsp;&nbsp;&nbsp;&nbsp;Postretirement benefit income (expense) | 14 | (67) | (63) | 301 | 185 |
| &nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation expense | (45) | (85) | (66) | (34) | (230) |
| &nbsp;&nbsp;&nbsp;&nbsp;Financing costs | (46) | (68) | (54) | (12) | (180) |
| &nbsp;&nbsp;&nbsp;&nbsp;Currency | (54) | (95) | 18 | 50 | (81) |
| &nbsp;&nbsp;&nbsp;&nbsp;Goodwill impairment charge |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other income/expense methodology differences | (142) | (86) | (89) | (153) | (470) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other methodology differences | (12) | (16) | (6) | (101) | (135) |
| **Total consolidated profit before taxes** | $**2570** | $**2818** | $**3127** | $**3026** | $**11541** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **2024** | **2024** | **2024** | **2024** | **2024** |
| | **Three months ended <br>March 31,** | **Three months ended <br>June 30,** | **Three months ended <br>September 30,** | **Three months ended <br>December 31,** | **Year ended <br>December 31,** |
| Total profit from reportable segments | $4086 | $4212 | $3785 | $3288 | $15371 |
| Profit from All Other Segment | 25 | 20 | (13) | 11 | 43 |
| Cost centers | 14 | (2) | (5) | (8) | (1) |
| Corporate costs | (201) | (276) | (205) | (207) | (889) |
| Timing | (67) | 82 | (3) | 121 | 133 |
| Restructuring costs | 6 | (258) | (70) | (37) | (359) |
| Methodology differences: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Inventory/cost of sales | (6) | 9 | 13 | 17 | 33 |
| &nbsp;&nbsp;&nbsp;&nbsp;Postretirement benefit income (expense) | (56) | 1 | (51) | 173 | 67 |
| &nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation expense | (44) | (75) | (52) | (52) | (223) |
| &nbsp;&nbsp;&nbsp;&nbsp;Financing costs | (28) | (41) | (42) | (15) | (126) |
| &nbsp;&nbsp;&nbsp;&nbsp;Currency | 87 | 21 | (79) | 116 | 145 |
| &nbsp;&nbsp;&nbsp;&nbsp;Goodwill impairment charge |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other income/expense methodology differences | (250) | (168) | (166) | (156) | (740) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other methodology differences | (34) | (25) | (14) | (8) | (81) |
| **Total consolidated profit before taxes** | $**3532** | $**3500** | $**3098** | $**3243** | $**13373** |

---

------

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,** | **Year ended December 31,** |
|  | **2025** | **2024** |
| Assets from reportable segments: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Construction Industries | $5442 | $5546 |
| &nbsp;&nbsp;&nbsp;&nbsp;Resource Industries | 9036 | 9009 |
| &nbsp;&nbsp;&nbsp;&nbsp;Power & Energy | 8438 | 8845 |
| &nbsp;&nbsp;&nbsp;&nbsp;Financial Products Segment | 41476 | 36925 |
| Total assets from reportable segments | 64392 | 60325 |
| Assets from All Other Segment | 1516 | 1403 |
| Items not included in segment assets: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents | 9333 | 6165 |
| &nbsp;&nbsp;&nbsp;&nbsp;Deferred income taxes | 2749 | 3194 |
| &nbsp;&nbsp;&nbsp;&nbsp;Goodwill and intangible assets | 4669 | 4478 |
| &nbsp;&nbsp;&nbsp;&nbsp;Property, plant and equipment – net and other assets | 4689 | 4808 |
| Inventory methodology differences | (3622) | (3560) |
| Liabilities included in segment assets | 15330 | 11973 |
| Other | (471) | (1022) |
| **Total assets** | $**98585** | $**87764** |

---

------

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** | **2025** | **2025** | **2025** | **2025** |
|  | **Three months ended <br>March 31,** | **Three months ended <br>June 30,** | **Three months ended <br>September 30,** | **Three months ended <br>December 31,** | **Year ended <br>December 31,** |
| Depreciation and amortization from reportable segments: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Construction Industries | $63 | $66 | $67 | $70 | $266 |
| &nbsp;&nbsp;&nbsp; Resource Industries | 97 | 99 | 100 | 99 | 395 |
| &nbsp;&nbsp;&nbsp; Power & Energy | 116 | 121 | 132 | 149 | 518 |
| &nbsp;&nbsp;&nbsp; Financial Products Segment | 178 | 178 | 178 | 185 | 719 |
| Total depreciation and amortization from reportable segments | 454 | 464 | 477 | 503 | 1898 |
| Items not included in segment depreciation and amortization: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;All Other Segment | 63 | 66 | 68 | 70 | 267 |
| &nbsp;&nbsp;&nbsp;&nbsp;Cost centers | 24 | 25 | 26 | 28 | 103 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other | (1) | (1) | (1) | (3) | (6) |
| **Total depreciation and amortization** | $**540** | $**554** | $**570** | $**598** | $**2262** |
|  | **2024** | **2024** | **2024** | **2024** | **2024** |
|  | **Three months ended <br>March 31,** | **Three months ended <br>June 30,** | **Three months ended <br>September 30,** | **Three months ended <br>December 31,** | **Year ended <br>December 31,** |
| Depreciation and amortization from reportable segments: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Construction Industries | $56 | $57 | $60 | $60 | $233 |
| &nbsp;&nbsp;&nbsp;Resource Industries | 93 | 94 | 95 | 99 | 381 |
| &nbsp;&nbsp;&nbsp;Power & Energy | 100 | 104 | 110 | 113 | 427 |
| &nbsp;&nbsp;&nbsp;Financial Products Segment | 185 | 185 | 184 | 186 | 740 |
| Total depreciation and amortization from reportable segments | 434 | 440 | 449 | 458 | 1781 |
| Items not included in segment depreciation and amortization: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;All Other Segment | 67 | 70 | 71 | 76 | 284 |
| &nbsp;&nbsp;&nbsp;&nbsp;Cost centers | 23 | 24 | 25 | 23 | 95 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other |  | (3) | (2) | (2) | (7) |
| **Total depreciation and amortization** | $**524** | $**531** | $**543** | $**555** | $**2153** |

---

------

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** | **2025** | **2025** | **2025** | **2025** |
|  | **Three months ended <br>March 31,** | **Three months ended <br>June 30,** | **Three months ended <br>September 30,** | **Three months ended <br>December 31,** | **Year ended <br>December 31,** |
| Capital expenditures from reportable segments: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Construction Industries | $46 | $64 | $86 | $162 | $358 |
| &nbsp;&nbsp;&nbsp;&nbsp;Resource Industries | 110 | 111 | 162 | 243 | 626 |
| &nbsp;&nbsp;&nbsp;&nbsp;Power & Energy | 240 | 374 | 368 | 519 | 1501 |
| &nbsp;&nbsp;&nbsp;&nbsp;Financial Products Segment | 170 | 379 | 359 | 433 | 1341 |
| Total capital expenditures from reportable segments | 566 | 928 | 975 | 1357 | 3826 |
| Items not included in segment capital expenditures: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;All Other Segment | 36 | 59 | 72 | 87 | 254 |
| &nbsp;&nbsp;&nbsp;&nbsp;Cost centers | 27 | 35 | 38 | (2) | 98 |
| &nbsp;&nbsp;&nbsp;&nbsp;Timing | 295 | (70) | (6) | (197) | 22 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other | (6) | 3 | (8) | 97 | 86 |
| **Total capital expenditures** | $**918** | $**955** | $**1071** | $**1342** | $**4286** |
|  | **2024** | **2024** | **2024** | **2024** | **2024** |
|  | **Three months ended <br>March 31,** | **Three months ended <br>June 30,** | **Three months ended <br>September 30,** | **Three months ended <br>December 31,** | **Year ended <br>December 31,** |
| Capital expenditures from reportable segments: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Construction Industries | $58 | $55 | $66 | $144 | $323 |
| &nbsp;&nbsp;&nbsp;&nbsp;Resource Industries | 45 | 115 | 90 | 210 | 460 |
| &nbsp;&nbsp;&nbsp;&nbsp;Power & Energy | 104 | 186 | 257 | 500 | 1047 |
| &nbsp;&nbsp;&nbsp;&nbsp;Financial Products Segment | 234 | 320 | 264 | 267 | 1085 |
| Total capital expenditures from reportable segments | 441 | 676 | 677 | 1121 | 2915 |
| Items not included in segment capital expenditures: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;All Other Segment | 36 | 65 | 73 | 111 | 285 |
| &nbsp;&nbsp;&nbsp;&nbsp;Cost centers | 30 | 24 | 60 | 79 | 193 |
| &nbsp;&nbsp;&nbsp;&nbsp;Timing | 245 | (37) | (71) | (286) | (149) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other | (16) | (9) | (16) | 12 | (29) |
| **Total capital expenditures** | $**736** | $**719** | $**723** | $**1037** | $**3215** |

---

## Exhibit 99.2

**EXHIBIT 99.2**

**Previously Communicated Forward-Looking Assumptions**

The following statements should not be interpreted as a reaffirmation of, or an update to, the assumptions communicated during the Company's fourth quarter of 2025 earnings call. Instead, the statements are meant to assist investors in establishing an appropriate baseline for evaluating future segment-level performance and expectations, referencing the recast unaudited historical financial information reported in Exhibit 99.1 as this baseline.

Referencing the recast unaudited historical financial information from Exhibit 99.1 for the prior year baseline comparison periods and similarly reflecting our realigned organizational structure for the forward-looking periods including the first quarter and full year 2026, the segment-specific assumptions the Company communicated on January 29, 2026, during its fourth-quarter of 2025 earnings call would not have materially changed.

For clarity, the following comments made regarding the Rail division would have aligned to the Resource Industries segment and not the Transportation application within the Power & Energy segment: "In Transportation, we anticipate full year growth in Rail services and locomotive deliveries."

The Company will provide updated forward-looking assumptions during its first quarter 2026 earnings call on April 30, 2026.

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**<u>FORWARD-LOOKING STATEMENTS</u>**

Certain statements in this report relate to future events and expectations and are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "believe," "estimate," "will be," "will," "would," "expect," "anticipate," "plan," "forecast," "target," "guide," "project," "intend," "could," "should" or other similar words or expressions often identify forward-looking statements. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding our outlook, projections, forecasts or trend descriptions. These statements do not guarantee future performance and speak only as of the date they are made, and we do not undertake to update our forward-looking statements.

Caterpillar's actual results may differ materially from those described or implied in our forward-looking statements based on a number of factors, including, but not limited to: (i) global and regional economic conditions and economic conditions in the industries we serve; (ii) commodity price changes, material price increases, fluctuations in demand for our products or significant shortages of material; (iii) government monetary or fiscal policies; (iv) political and economic risks, commercial instability and events beyond our control in the countries in which we operate; (v) international trade policies and their impact on demand for our products and our competitive position, including the imposition of new tariffs or changes in existing tariff rates; (vi) our ability to develop, produce and market quality products that meet our customers' needs; (vii) the impact of the highly competitive environment in which we operate on our sales and pricing; (viii) information technology security threats and computer crime; (ix) inventory management decisions and sourcing practices of our dealers and our OEM customers; (x) a failure to realize, or a delay in realizing, all of the anticipated benefits of our acquisitions, joint ventures or divestitures; (xi) union disputes or other employee relations issues; (xii) adverse effects of unexpected events; (xiii) disruptions or volatility in global financial markets limiting our sources of liquidity or the liquidity of our customers, dealers and suppliers; (xiv) failure to maintain our credit ratings and potential resulting increases to our cost of borrowing and adverse effects on our cost of funds, liquidity, competitive position and access to capital markets; (xv) our Financial Products segment's risks associated with the financial services industry; (xvi) changes in interest rates or market liquidity conditions; (xvii) an increase in delinquencies, repossessions or net losses of Cat Financial's customers; (xviii) currency fluctuations; (xix) our or Cat Financial's compliance with financial and other restrictive covenants in debt agreements; (xx) increased pension plan funding obligations; (xxi) alleged or actual violations of trade or anti-corruption laws and regulations; (xxii) additional tax expense or exposure, including the impact of U.S. tax reform; (xxiii) significant legal proceedings, claims, lawsuits or government investigations; (xxiv) new regulations or changes in financial services regulations; (xxv) compliance with environmental laws and regulations; (xxvi) catastrophic events, including global pandemics such as the COVID-19 pandemic; and (xxvii) other factors described in more detail in Caterpillar's Forms 10-Q, 10-K and other filings with the Securities and Exchange Commission.

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