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10-Q Filing

CATERPILLAR FINANCIAL SERVICES CORP CIK: 764764 Q1 2022
Filing Information
Form Type 10-Q
Accession Number 0000764764-22-000043
Period End Date 20220331
Filing Date 20220504
Fiscal Year 2022
Fiscal Period Q1
XBRL Instance cfsc-20220331_htm.xml
Balance Sheet 59 line items
Line Item Tag Value Unit Period
Allowance for credit losses FinancingReceivableAllowanceForCreditLosses $357.00M USD Point-in-time
Allowance for credit losses FinancingReceivableAllowanceForCreditLosses $337.00M USD Point-in-time
Allowance for credit losses FinancingReceivableAllowanceForCreditLosses $479.00M USD Point-in-time
Allowance for credit losses FinancingReceivableAllowanceForCreditLosses $441.00M USD Point-in-time
Cash and cash equivalents CashCashEquivalentsAndShortTermInvestments $664.00M USD Point-in-time
Cash and cash equivalents CashCashEquivalentsAndShortTermInvestments $610.00M USD Point-in-time
Common stock - par value CommonStockParOrStatedValuePerShare $1.00 USD Point-in-time
Common stock - par value CommonStockParOrStatedValuePerShare $1.00 USD Point-in-time
Finance receivables, net of Allowance for credit losses of $357 and $337 LoansAndLeasesReceivableNetReportedAmount $27.18B USD Point-in-time
Finance receivables, net of Allowance for credit losses of $357 and $337 LoansAndLeasesReceivableNetReportedAmount $27.36B USD Point-in-time
Notes receivable from Caterpillar NotesReceivableRelatedParties $475.00M USD Point-in-time
Notes receivable from Caterpillar NotesReceivableRelatedParties $389.00M USD Point-in-time
Common stock - authorized CommonStockSharesAuthorized 2,000.00 shares Point-in-time
Common stock - authorized CommonStockSharesAuthorized 2,000.00 shares Point-in-time
Equipment on operating leases, net PropertySubjectToOrAvailableForOperatingLeaseNet $3.12B USD Point-in-time
Common stock - issued CommonStockSharesIssued 1.00 shares Point-in-time
Equipment on operating leases, net PropertySubjectToOrAvailableForOperatingLeaseNet $3.04B USD Point-in-time
Common stock - issued CommonStockSharesIssued 1.00 shares Point-in-time
Common stock - outstanding CommonStockSharesOutstanding 1.00 shares Point-in-time
Common stock - outstanding CommonStockSharesOutstanding 1.00 shares Point-in-time
Other assets OtherAssets $1.06B USD Point-in-time
Other assets OtherAssets $1.09B USD Point-in-time
Total assets Assets $32.59B USD Point-in-time
Total assets Assets $32.39B USD Point-in-time
Payable to dealers and others AccountsPayableCurrentAndNoncurrent $163.00M USD Point-in-time
Payable to dealers and others AccountsPayableCurrentAndNoncurrent $163.00M USD Point-in-time
Payable to Caterpillar - borrowings and other Payabletorelatedpartyborrowingsandother $95.00M USD Point-in-time
Payable to Caterpillar - borrowings and other Payabletorelatedpartyborrowingsandother $117.00M USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrentAndNoncurrent $378.00M USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrentAndNoncurrent $233.00M USD Point-in-time
Short-term borrowings ShortTermBorrowings $4.50B USD Point-in-time
Short-term borrowings ShortTermBorrowings $5.39B USD Point-in-time
Current maturities of long-term debt LongTermDebtCurrent $6.31B USD Point-in-time
Current maturities of long-term debt LongTermDebtCurrent $7.68B USD Point-in-time
Long-term debt LongTermDebtNoncurrent $15.64B USD Point-in-time
Long-term debt LongTermDebtNoncurrent $16.29B USD Point-in-time
Other liabilities OtherLiabilities $926.00M USD Point-in-time
Other liabilities OtherLiabilities $965.00M USD Point-in-time
Total liabilities Liabilities $29.44B USD Point-in-time
Total liabilities Liabilities $29.41B USD Point-in-time
Commitments and contingent liabilities (Note 7) CommitmentsAndContingencies - USD Point-in-time
Commitments and contingent liabilities (Note 7) CommitmentsAndContingencies - USD Point-in-time
Common stock - $1 par value Authorized: 2,000 shares; Issued and outstanding: one share (at paid-in amount) CommonStocksIncludingAdditionalPaidInCapital $745.00M USD Point-in-time
Common stock - $1 par value Authorized: 2,000 shares; Issued and outstanding: one share (at paid-in amount) CommonStocksIncludingAdditionalPaidInCapital $745.00M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $2.00M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $2.00M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $2.94B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $2.80B USD Point-in-time
Accumulated other comprehensive income (loss) AccumulatedOtherComprehensiveIncomeLossNetOfTax $-750.00M USD Point-in-time
Accumulated other comprehensive income (loss) AccumulatedOtherComprehensiveIncomeLossNetOfTax $-774.00M USD Point-in-time
Accumulated other comprehensive income (loss) AccumulatedOtherComprehensiveIncomeLossNetOfTax $-703.00M USD Point-in-time
Noncontrolling interests MinorityInterest $214.00M USD Point-in-time
Noncontrolling interests MinorityInterest $211.00M USD Point-in-time
Total shareholders equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $3.49B USD Point-in-time
Total shareholders equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $3.15B USD Point-in-time
Total shareholders equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.98B USD Point-in-time
Total shareholders equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $3.52B USD Point-in-time
Total liabilities and shareholders equity LiabilitiesAndStockholdersEquity $32.59B USD Point-in-time
Total liabilities and shareholders equity LiabilitiesAndStockholdersEquity $32.39B USD Point-in-time
Income Statement 34 line items
Line Item Tag Value Unit Period
Retail finance RetailFinanceRevenue $303.00M USD 1 Quarter
Retail finance RetailFinanceRevenue $290.00M USD 1 Quarter
Operating lease OperatingLeaseLeaseIncome $225.00M USD 1 Quarter
Operating lease OperatingLeaseLeaseIncome $244.00M USD 1 Quarter
Wholesale finance WholesaleFinanceRevenue $84.00M USD 1 Quarter
Wholesale finance WholesaleFinanceRevenue $78.00M USD 1 Quarter
Other, net OtherIncome $53.00M USD 1 Quarter
Other, net OtherIncome $14.00M USD 1 Quarter
Total revenues Revenues $652.00M USD 1 Quarter
Total revenues Revenues $639.00M USD 1 Quarter
Interest InterestExpense $106.00M USD 1 Quarter
Interest InterestExpense $125.00M USD 1 Quarter
Depreciation on equipment leased to others OperatingLeasesIncomeStatementDepreciationExpenseOnPropertySubjectToOrHeldForLease $184.00M USD 1 Quarter
Depreciation on equipment leased to others OperatingLeasesIncomeStatementDepreciationExpenseOnPropertySubjectToOrHeldForLease $192.00M USD 1 Quarter
General, operating and administrative SellingGeneralAndAdministrativeExpense $131.00M USD 1 Quarter
General, operating and administrative SellingGeneralAndAdministrativeExpense $121.00M USD 1 Quarter
Provision for credit losses ProvisionForLoanLeaseAndOtherLosses $27.00M USD 1 Quarter
Provision for credit losses ProvisionForLoanLeaseAndOtherLosses $-10.00M USD 1 Quarter
Other OtherCostAndExpenseOperating $7.00M USD 1 Quarter
Other OtherCostAndExpenseOperating $7.00M USD 1 Quarter
Total expenses CostsAndExpenses $435.00M USD 1 Quarter
Total expenses CostsAndExpenses $455.00M USD 1 Quarter
Other income (expense) OtherNonoperatingIncomeExpense $-8.00M USD 1 Quarter
Other income (expense) OtherNonoperatingIncomeExpense $-4.00M USD 1 Quarter
Profit before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $196.00M USD 1 Quarter
Profit before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $193.00M USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $53.00M USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $49.00M USD 1 Quarter
Profit of consolidated companies ProfitLoss $143.00M USD 1 Quarter
Profit of consolidated companies ProfitLoss $144.00M USD 1 Quarter
Less: Profit attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $3.00M USD 1 Quarter
Less: Profit attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $1.00M USD 1 Quarter
Profit attributable to Caterpillar Financial Services Corporation NetIncomeLoss $143.00M USD 1 Quarter
Profit attributable to Caterpillar Financial Services Corporation NetIncomeLoss $140.00M USD 1 Quarter
Cash Flow Statement 72 line items
Line Item Tag Value Unit Period
Restricted cash and cash equivalents RestrictedCashAndInvestmentsCurrent $4.00M USD Point-in-time
Restricted cash and cash equivalents RestrictedCashAndInvestmentsCurrent $2.00M USD Point-in-time
Profit of consolidated companies ProfitLoss $143.00M USD 1 Quarter
Profit of consolidated companies ProfitLoss $144.00M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $187.00M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $195.00M USD 1 Quarter
Accretion of Caterpillar purchased receivable revenue AccretionOfCaterpillarPurchasedReceivableRevenue $81.00M USD 1 Quarter
Accretion of Caterpillar purchased receivable revenue AccretionOfCaterpillarPurchasedReceivableRevenue $74.00M USD 1 Quarter
Provision for credit losses ProvisionForLoanLeaseAndOtherLosses $27.00M USD 1 Quarter
Provision for credit losses ProvisionForLoanLeaseAndOtherLosses $-10.00M USD 1 Quarter
Other, net OtherNoncashIncomeExpense $27.00M USD 1 Quarter
Other, net OtherNoncashIncomeExpense $-23.00M USD 1 Quarter
Other assets IncreaseDecreaseInOtherOperatingAssets $12.00M USD 1 Quarter
Other assets IncreaseDecreaseInOtherOperatingAssets $-1.00M USD 1 Quarter
Payable to dealers and others IncreaseDecreaseInAccountsPayableTrade $13.00M USD 1 Quarter
Payable to dealers and others IncreaseDecreaseInAccountsPayableTrade $27.00M USD 1 Quarter
Accrued expenses IncreaseDecreaseInAccruedLiabilities $28.00M USD 1 Quarter
Accrued expenses IncreaseDecreaseInAccruedLiabilities $3.00M USD 1 Quarter
Other payables with Caterpillar IncreaseDecreaseInAccountsPayableRelatedParties $19.00M USD 1 Quarter
Other payables with Caterpillar IncreaseDecreaseInAccountsPayableRelatedParties $6.00M USD 1 Quarter
Other liabilities IncreaseDecreaseInOtherOperatingLiabilities $22.00M USD 1 Quarter
Other liabilities IncreaseDecreaseInOtherOperatingLiabilities $23.00M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $335.00M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $322.00M USD 1 Quarter
Expenditures for equipment on operating leases PaymentsToAcquireEquipmentOnLease $224.00M USD 1 Quarter
Expenditures for equipment on operating leases PaymentsToAcquireEquipmentOnLease $238.00M USD 1 Quarter
Capital expenditures - excluding equipment on operating leases PaymentsToAcquirePropertyPlantAndEquipment $4.00M USD 1 Quarter
Capital expenditures - excluding equipment on operating leases PaymentsToAcquirePropertyPlantAndEquipment $3.00M USD 1 Quarter
Proceeds from disposals of equipment ProceedsFromSaleOfPropertyPlantAndEquipment $244.00M USD 1 Quarter
Proceeds from disposals of equipment ProceedsFromSaleOfPropertyPlantAndEquipment $239.00M USD 1 Quarter
Additions to finance receivables PaymentsToAcquireFinanceReceivables $2.87B USD 1 Quarter
Additions to finance receivables PaymentsToAcquireFinanceReceivables $3.14B USD 1 Quarter
Collections of finance receivables ProceedsFromCollectionOfFinanceReceivables $3.16B USD 1 Quarter
Collections of finance receivables ProceedsFromCollectionOfFinanceReceivables $3.06B USD 1 Quarter
Net changes in Caterpillar purchased receivables NetChangesInCaterpillarPurchasedReceivables $42.00M USD 1 Quarter
Net changes in Caterpillar purchased receivables NetChangesInCaterpillarPurchasedReceivables $411.00M USD 1 Quarter
Proceeds from sales of receivables ProceedsFromSaleOfFinanceReceivables $5.00M USD 1 Quarter
Proceeds from sales of receivables ProceedsFromSaleOfFinanceReceivables $9.00M USD 1 Quarter
Net change in variable lending to Caterpillar ProceedsFromPaymentsForLongTermLoansForRelatedParties $19.00M USD 1 Quarter
Net change in variable lending to Caterpillar ProceedsFromPaymentsForLongTermLoansForRelatedParties $-5.00M USD 1 Quarter
Additions to other notes receivable from Caterpillar OriginationOfNotesReceivableFromRelatedParties $91.00M USD 1 Quarter
Additions to other notes receivable from Caterpillar OriginationOfNotesReceivableFromRelatedParties $23.00M USD 1 Quarter
Collections of other notes receivable from Caterpillar RepaymentOfNotesReceivableFromRelatedParties $28.00M USD 1 Quarter
Collections of other notes receivable from Caterpillar RepaymentOfNotesReceivableFromRelatedParties $10.00M USD 1 Quarter
Settlements of undesignated derivatives PaymentsForProceedsFromDerivativeInstrumentInvestingActivities $33.00M USD 1 Quarter
Settlements of undesignated derivatives PaymentsForProceedsFromDerivativeInstrumentInvestingActivities $51.00M USD 1 Quarter
Other, net PaymentsForProceedsFromOtherInvestingActivities $-1.00M USD 1 Quarter
Other, net PaymentsForProceedsFromOtherInvestingActivities - USD 1 Quarter
Net cash provided by (used for) investing activities NetCashProvidedByUsedInInvestingActivities $-133.00M USD 1 Quarter
Net cash provided by (used for) investing activities NetCashProvidedByUsedInInvestingActivities $-221.00M USD 1 Quarter
Net change in variable lending from Caterpillar ProceedsFromRepaymentsOfRelatedPartyDebt - USD 1 Quarter
Net change in variable lending from Caterpillar ProceedsFromRepaymentsOfRelatedPartyDebt $-1.00B USD 1 Quarter
Proceeds from debt issued (original maturities greater than three months) ProceedsFromDebtMaturingInMoreThanThreeMonths $2.13B USD 1 Quarter
Proceeds from debt issued (original maturities greater than three months) ProceedsFromDebtMaturingInMoreThanThreeMonths $1.78B USD 1 Quarter
Payments on debt issued (original maturities greater than three months) RepaymentsOfDebtMaturingInMoreThanThreeMonths $2.24B USD 1 Quarter
Payments on debt issued (original maturities greater than three months) RepaymentsOfDebtMaturingInMoreThanThreeMonths $1.38B USD 1 Quarter
Short-term borrowings, net (original maturities three months or less) ProceedsFromRepaymentsOfShortTermDebtMaturingInThreeMonthsOrLess $1.67B USD 1 Quarter
Short-term borrowings, net (original maturities three months or less) ProceedsFromRepaymentsOfShortTermDebtMaturingInThreeMonthsOrLess $-892.00M USD 1 Quarter
Net cash provided by (used for) financing activities NetCashProvidedByUsedInFinancingActivities $-142.00M USD 1 Quarter
Net cash provided by (used for) financing activities NetCashProvidedByUsedInFinancingActivities $205.00M USD 1 Quarter
Effect of exchange rate changes on cash, cash equivalents and restricted cash EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents - USD 1 Quarter
Effect of exchange rate changes on cash, cash equivalents and restricted cash EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $5.00M USD 1 Quarter
Increase (decrease) in cash, cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $52.00M USD 1 Quarter
Increase (decrease) in cash, cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $319.00M USD 1 Quarter
Cash, cash equivalents and restricted cash at beginning of year CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $666.00M USD Point-in-time
Cash, cash equivalents and restricted cash at beginning of year CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $744.00M USD Point-in-time
Cash, cash equivalents and restricted cash at beginning of year CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $425.00M USD Point-in-time
Cash, cash equivalents and restricted cash at beginning of year CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $614.00M USD Point-in-time
Cash, cash equivalents and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $666.00M USD Point-in-time
Cash, cash equivalents and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $744.00M USD Point-in-time
Cash, cash equivalents and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $425.00M USD Point-in-time
Cash, cash equivalents and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $614.00M USD Point-in-time
Stockholders Equity 14 line items
Line Item Tag Value Unit Period
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $3.49B USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $3.15B USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.98B USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $3.52B USD Point-in-time
Profit of consolidated companies ProfitLoss $143.00M USD 1 Quarter
Profit of consolidated companies ProfitLoss $144.00M USD 1 Quarter
Foreign currency translation, net of tax OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $10.00M USD 1 Quarter
Foreign currency translation, net of tax OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-121.00M USD 1 Quarter
Derivative financial instruments, net of tax OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxParent $16.00M USD 1 Quarter
Derivative financial instruments, net of tax OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxParent $11.00M USD 1 Quarter
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $3.49B USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $3.15B USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.98B USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $3.52B USD Point-in-time
Comprehensive Income 14 line items
Line Item Tag Value Unit Period
Profit of consolidated companies ProfitLoss $143.00M USD 1 Quarter
Profit of consolidated companies ProfitLoss $144.00M USD 1 Quarter
Foreign currency translation OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $10.00M USD 1 Quarter
Foreign currency translation OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-121.00M USD 1 Quarter
Derivative financial instruments OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxParent $16.00M USD 1 Quarter
Derivative financial instruments OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxParent $11.00M USD 1 Quarter
Total Other comprehensive income (loss), net of tax OtherComprehensiveIncomeLossNetOfTax $-110.00M USD 1 Quarter
Total Other comprehensive income (loss), net of tax OtherComprehensiveIncomeLossNetOfTax $26.00M USD 1 Quarter
Comprehensive income (loss) ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $33.00M USD 1 Quarter
Comprehensive income (loss) ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $170.00M USD 1 Quarter
Less: Comprehensive income (loss) attributable to the noncontrolling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $1.00M USD 1 Quarter
Less: Comprehensive income (loss) attributable to the noncontrolling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $3.00M USD 1 Quarter
Comprehensive income (loss) attributable to Caterpillar Financial Services Corporation ComprehensiveIncomeNetOfTax $167.00M USD 1 Quarter
Comprehensive income (loss) attributable to Caterpillar Financial Services Corporation ComprehensiveIncomeNetOfTax $32.00M USD 1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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