Cover Page Cover Page	Mar. 25, 2026
Entity Information [Line Items]
Document Type	8-K
Document Period End Date	Mar. 26, 2026
Entity Registrant Name	CATERPILLAR INC.
Entity Incorporation, State or Country Code	DE
Entity File Number	1-768
Entity Tax Identification Number	37-0602744
Entity Address, Address Line One	5205 N. O'Connor Blvd.,
Entity Address, Address Line Two	Suite 100,
Entity Address, City or Town	Irving,
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	75039
City Area Code	(972)
Local Phone Number	891-7700
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Entity Emerging Growth Company	false
Entity Central Index Key	0000018230
Amendment Flag	false
Common Stock
Entity Information [Line Items]
Title of 12(b) Security	Common Stock ($1.00 par value)
Trading Symbol	CAT
Security Exchange Name	NYSE
5.3% Debentures Due September 15, 2035
Entity Information [Line Items]
Title of 12(b) Security	5.3% Debentures due September 15, 2035
Trading Symbol	CAT35
Security Exchange Name	NYSE

Segment information

12 Months Ended

Dec. 31, 2025

Segment Reporting [Abstract]

Segment information

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

For the three months ended March 31, June 30, September 30, and December 31, 2025, and 2024 and years ended December 31, 2025, and 2024, sales and revenues by geographic region reconciled to consolidated sales and revenues were as follows:


Sales and Revenues by Geographic Region
(Millions of dollars)
	North America		Latin America		EAME		Asia/ Pacific		External Sales and Revenues			Intersegment Sales and Revenues		Total Sales and Revenues
Three months ended March 31, 2025
Construction Industries	$	2,904	$	504	$	867	$	869	$	5,144		$	40	$	5,184
Resource Industries	1,610		606		510		860		3,586			75		3,661
Power & Energy	2,625		326		1,026		677		4,654			1,129		5,783
Financial Products Segment	682		99		122		104		1,007		1	—		1,007
Total sales and revenues from reportable segments	7,821		1,535		2,525		2,510		14,391			1,244		15,635
All Other Segment	8		—		1		2		11			59		70
Corporate Items and Eliminations	(91)		(20)		(20)		(22)		(153)			(1,303)		(1,456)
Total Sales and Revenues	$	7,738	$	1,515	$	2,506	$	2,490	$	14,249		$	—	$	14,249
1 Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $163 million.

Three months ended June 30, 2025
Construction Industries	$	3,369	$	540	$	1,185	$	1,029	$	6,123		$	67	$	6,190
Resource Industries	1,668		592		584		945		3,789			97		3,886
Power & Energy	3,225		442		1,306		821		5,794			1,243		7,037
Financial Products Segment	703		105		126		108		1,042		1	—		1,042
Total sales and revenues from reportable segments	8,965		1,679		3,201		2,903		16,748			1,407		18,155
All Other Segment	6		—		1		6		13			72		85
Corporate Items and Eliminations	(120)		(23)		(22)		(27)		(192)			(1,479)		(1,671)
Total Sales and Revenues	$	8,851	$	1,656	$	3,180	$	2,882	$	16,569		$	—	$	16,569
1 Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $172 million.

Three months ended September 30, 2025
Construction Industries	$	3,912	$	654	$	1,217	$	904	$	6,687		$	73	$	6,760
Resource Industries	1,721		605		612		977		3,915			84		3,999
Power & Energy	3,478		496		1,296		911		6,181			1,282		7,463
Financial Products Segment	722		118		130		106		1,076		1	—		1,076
Total sales and revenues from reportable segments	9,833		1,873		3,255		2,898		17,859			1,439		19,298
All Other Segment	5		—		2		3		10			63		73
Corporate Items and Eliminations	(157)		(23)		(26)		(25)		(231)			(1,502)		(1,733)
Total Sales and Revenues	$	9,681	$	1,850	$	3,231	$	2,876	$	17,638		$	—	$	17,638
1 Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $187 million.


	North America		Latin America		EAME		Asia/ Pacific		External Sales and Revenues			Intersegment Sales and Revenues		Total Sales and Revenues
Three months ended December 31, 2025
Construction Industries	$	3,879	$	660	$	1,326	$	981	$	6,846		$	80	$	6,926
Resource Industries	1,884		747		680		980		4,291			83		4,374
Power & Energy	3,990		464		1,763		901		7,118			1,223		8,341
Financial Products Segment	734		120		133		108		1,095		1	—		1,095
Total sales and revenues from reportable segments	10,487		1,991		3,902		2,970		19,350			1,386		20,736
All Other Segment	7		—		2		3		12			87		99
Corporate Items and Eliminations	(155)		(24)		(28)		(22)		(229)			(1,473)		(1,702)
Total Sales and Revenues	$	10,339	$	1,967	$	3,876	$	2,951	$	19,133		$	—	$	19,133
1 Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of$190 million.

Year ended December 31, 2025
Construction Industries	$	14,064	$	2,358	$	4,595	$	3,783	$	24,800		$	260	$	25,060
Resource Industries	6,883		2,550		2,386		3,762		15,581			339		15,920
Power & Energy	13,318		1,728		5,391		3,310		23,747			4,877		28,624
Financial Products Segment	2,841		442		511		426		4,220		1	—		4,220
Total sales and revenues from reportable segments	37,106		7,078		12,883		11,281		68,348			5,476		73,824
All Other Segment	26		—		6		14		46			281		327
Corporate Items and Eliminations	(523)		(90)		(96)		(96)		(805)			(5,757)		(6,562)
Total Sales and Revenues	$	36,609	$	6,988	$	12,793	$	11,199	$	67,589		$	—	$	67,589
1 Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $712 million.



Three months ended March 31, 2024
Construction Industries	$	3,833	$	595	$	996	$	993	$	6,417		$	7	$	6,424
Resource Industries	1,791		541		579		996		3,907			108		4,015
Power & Energy	2,432		343		1,182		740		4,697			1,165		5,862
Financial Products Segment	659		101		123		108		991		1	—		991
Total sales and revenues from reportable segments	8,715		1,580		2,880		2,837		16,012			1,280		17,292
All Other Segment	8		(1)		3		2		12			75		87
Corporate Items and Eliminations	(150)		(20)		(31)		(24)		(225)			(1,355)		(1,580)
Total Sales and Revenues	$	8,573	$	1,559	$	2,852	$	2,815	$	15,799		$	—	$	15,799
1 Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $177 million.

Three months ended June 30, 2024
Construction Industries	$	3,957	$	677	$	1,047	$	975	$	6,656		$	27	$	6,683
Resource Industries	1,734		571		585		1,047		3,937			93		4,030
Power & Energy	2,792		392		1,279		824		5,287			1,230		6,517
Financial Products Segment	668		101		124		111		1,004		1	—		1,004
Total sales and revenues from reportable segments	9,151		1,741		3,035		2,957		16,884			1,350		18,234
All Other Segment	4		—		2		2		8			79		87
Corporate Items and Eliminations	(112)		(22)		(40)		(29)		(203)			(1,429)		(1,632)
Total Sales and Revenues	$	9,043	$	1,719	$	2,997	$	2,930	$	16,689		$	—	$	16,689
1 Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $180 million.


	North America		Latin America		EAME		Asia/ Pacific		External Sales and Revenues			Intersegment Sales and Revenues		Total Sales and Revenues
Three months ended September 30, 2024
Construction Industries	$	3,629	$	658	$	1,150	$	875	$	6,312		$	33	$	6,345
Resource Industries	1,647		543		579		954		3,723			105		3,828
Power & Energy	2,708		404		1,351		773		5,236			1,151		6,387
Financial Products Segment	695		97		130		112		1,034		1	—		1,034
Total sales and revenues from reportable segments	8,679		1,702		3,210		2,714		16,305			1,289		17,594
All Other Segment	1		(1)		1		7		8			64		72
Corporate Items and Eliminations	(135)		(23)		(12)		(37)		(207)			(1,353)		(1,560)
Total Sales and Revenues	$	8,545	$	1,678	$	3,199	$	2,684	$	16,106		$	—	$	16,106
1 Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $190 million.

Three months ended December 31, 2024
Construction Industries	$	3,157	$	623	$	1,122	$	1,057	$	5,959		$	44	$	6,003
Resource Industries	1,487		618		607		1,052		3,764			108		3,872
Power & Energy	3,011		429		1,434		762		5,636			1,104		6,740
Financial Products Segment	680		103		128		113		1,024		1	—		1,024
Total sales and revenues from reportable segments	8,335		1,773		3,291		2,984		16,383			1,256		17,639
All Other Segment	7		—		1		—		8			90		98
Corporate Items and Eliminations	(106)		(21)		(24)		(25)		(176)			(1,346)		(1,522)
Total Sales and Revenues	$	8,236	$	1,752	$	3,268	$	2,959	$	16,215		$	—	$	16,215
1 Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $164 million.

Year ended December 31, 2024
Construction Industries	$	14,576	$	2,553	$	4,315	$	3,900	$	25,344		$	111	$	25,455
Resource Industries	6,659		2,273		2,350		4,049		15,331			414		15,745
Power & Energy	10,943		1,568		5,246		3,099		20,856			4,650		25,506
Financial Products Segment	2,702		402		505		444		4,053		1	—		4,053
Total sales and revenues from reportable segments	34,880		6,796		12,416		11,492		65,584			5,175		70,759
All Other Segment	20		(2)		7		11		36			308		344
Corporate Items and Eliminations	(503)		(86)		(107)		(115)		(811)			(5,483)		(6,294)
Total Sales and Revenues	$	34,397	$	6,708	$	12,316	$	11,388	$	64,809		$	—	$	64,809
1 Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $711 million.

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


Power & Energy External Sales
(Millions of dollars)
	2025
	Three months ended March 31,		Three months ended June 30,		Three months ended September 30,		Three months ended December 31,		Year ended December 31,
Oil and Gas	$	1,258	$	1,867	$	1,979	$	2,398	$	7,502
Power Generation	1,996		2,407		2,634		3,238		10,275
Industrial	1,400		1,520		1,568		1,482		5,970
Power & Energy External Sales	$	4,654	$	5,794	$	6,181	$	7,118	$	23,747

	2024
	Three months ended March 31,		Three months ended June 30,		Three months ended September 30,		Three months ended December 31,		Year ended December 31,
Oil and Gas	$	1,568	$	1,829	$	1,656	$	1,927	$	6,980
Power Generation	1,618		1,885		2,011		2,242		7,756
Industrial	1,511		1,573		1,569		1,467		6,120
Power & Energy External Sales	$	4,697	$	5,287	$	5,236	$	5,636	$	20,856

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

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


Profit from Reportable Segments
(Millions of dollars)
	Construction Industries		Resource Industries		Power & Energy		Financial Products Segment		Total from Reportable Segments
Three months ended March 31, 2025
Sales and revenues	$	5,184	$	3,661	$	5,783	$	1,007	$	15,635
Less 1:
Cost of goods sold	3,718		2,612		3,834		—		10,164
SG&A/R&D 2	451		439		691		195		1,776
Other segment items 3	(9)		(13)		(30)		597		545
Segment Profit	$	1,024	$	623	$	1,288	$	215	$	3,150

Three months ended June 30, 2025
Sales and revenues	$	6,190	$	3,886	$	7,037	$	1,042	$	18,155
Less 1:
Cost of goods sold	4,459		2,851		4,751		—		12,061
SG&A/R&D 2	470		465		730		204		1,869
Other segment items 3	17		7		2		590		616
Segment Profit	$	1,244	$	563	$	1,554	$	248	$	3,609

Three months ended September 30, 2025
Sales and revenues	$	6,760	$	3,999	$	7,463	$	1,076	$	19,298
Less 1:
Cost of goods sold	4,874		2,994		5,101		—		12,969
SG&A/R&D 2	472		461		724		215		1,872
Other segment items 3	37		—		5		620		662
Segment Profit	$	1,377	$	544	$	1,633	$	241	$	3,795

Three months ended December 31, 2025
Sales and revenues	$	6,926	$	4,374	$	8,341	$	1,095	$	20,736
Less 1:
Cost of goods sold	5,342		3,441		5,777		—		14,560
SG&A/R&D 2	509		506		828		215		2,058
Other segment items 3	45		6		(45)		618		624
Segment Profit	$	1,030	$	421	$	1,781	$	262	$	3,494

Year ended December 31, 2025
Sales and revenues	$	25,060	$	15,920	$	28,624	$	4,220	$	73,824
Less 1:
Cost of goods sold	18,393		11,898		19,463		—		49,754
SG&A/R&D 2	1,902		1,871		2,973		829		7,575
Other segment items 3	90		—		(68)		2,425		2,447
Segment Profit	$	4,675	$	2,151	$	6,256	$	966	$	14,048


	Construction Industries		Resource Industries		Power & Energy		Financial Products Segment		Total from Reportable Segments
Three months ended March 31, 2024
Sales and revenues	$	6,424	$	4,015	$	5,862	$	991	$	17,292
Less 1:
Cost of goods sold	4,210		2,807		3,888		—		10,905
SG&A/R&D 2	446		435		687		173		1,741
Other segment items 3	4		21		10		525		560
Segment Profit	$	1,764	$	752	$	1,277	$	293	$	4,086

Three months ended June 30, 2024
Sales and revenues	$	6,683	$	4,030	$	6,517	$	1,004	$	18,234
Less 1:
Cost of goods sold	4,470		2,808		4,316		—		11,594
SG&A/R&D 2	477		434		712		182		1,805
Other segment items 3	(5)		25		8		595		623
Segment Profit	$	1,741	$	763	$	1,481	$	227	$	4,212

Three months ended September 30, 2024
Sales and revenues	$	6,345	$	3,828	$	6,387	$	1,034	$	17,594
Less 1:
Cost of goods sold	4,349		2,691		4,242		—		11,282
SG&A/R&D 2	483		464		741		193		1,881
Other segment items 3	27		20		4		595		646
Segment Profit	$	1,486	$	653	$	1,400	$	246	$	3,785

Three months ended December 31, 2024
Sales and revenues	$	6,003	$	3,872	$	6,740	$	1,024	$	17,639
Less 1:
Cost of goods sold	4,297		2,864		4,558		—		11,719
SG&A/R&D 2	525		486		742		223		1,976
Other segment items 3	7		14		—		635		656
Segment Profit	$	1,174	$	508	$	1,440	$	166	$	3,288

Year ended December 31, 2024
Sales and revenues	$	25,455	$	15,745	$	25,506	$	4,053	$	70,759
Less 1:
Cost of goods sold	17,326		11,170		17,004		—		45,500
SG&A/R&D 2	1,931		1,819		2,882		771		7,403
Other segment items 3	33		80		22		2,350		2,485
Segment Profit	$	6,165	$	2,676	$	5,598	$	932	$	15,371

1 The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM. Inter-segment income/expenses are included within the amounts shown.
2 Includes selling, general and administrative (SG&A) and research and development (R&D) expenses. The combined presentation aligns with the segment-level information that is regularly provided to the CODM.
3 Other segment items for each reportable segment primarily includes: Construction Industries/Resource Industries/Power & Energy – other operating (income) expenses, currency impacts defined as a methodology difference between exchange rates used in U.S. GAAP and segment reporting, and equity in (profit) loss of unconsolidated affiliated companies. Financial Products Segment – interest expense, Cat Financial’s depreciation on equipment leased to others, Insurance Services’ underwriting expenses and investment and interest income, and foreign exchange (gains) losses.

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


Reconciliation of Consolidated profit before taxes:
(Millions of dollars)
	2025
	Three months ended March 31,		Three months ended June 30,		Three months ended September 30,		Three months ended December 31,		Year ended December 31,
Total profit from reportable segments	$	3,150	$	3,609	$	3,795	$	3,494	$	14,048
Profit from All Other Segment	(19)		—		(6)		17		(8)
Cost centers	4		(10)		6		(11)		(11)
Corporate costs	(213)		(211)		(308)		(274)		(1,006)
Timing	(7)		(76)		(119)		27		(175)
Restructuring costs	(33)		(56)		(37)		(319)		(445)
Methodology differences:
Inventory/cost of sales	(27)		(21)		56		41		49
Postretirement benefit income (expense)	14		(67)		(63)		301		185
Stock-based compensation expense	(45)		(85)		(66)		(34)		(230)
Financing costs	(46)		(68)		(54)		(12)		(180)
Currency	(54)		(95)		18		50		(81)
Goodwill impairment charge	—		—		—		—		—
Other income/expense methodology differences	(142)		(86)		(89)		(153)		(470)
Other methodology differences	(12)		(16)		(6)		(101)		(135)
Total consolidated profit before taxes	$	2,570	$	2,818	$	3,127	$	3,026	$	11,541


	2024
	Three months ended March 31,		Three months ended June 30,		Three months ended September 30,		Three months ended December 31,		Year ended December 31,
Total profit from reportable segments	$	4,086	$	4,212	$	3,785	$	3,288	$	15,371
Profit from All Other 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:
Inventory/cost of sales	(6)		9		13		17		33
Postretirement benefit income (expense)	(56)		1		(51)		173		67
Stock-based compensation expense	(44)		(75)		(52)		(52)		(223)
Financing costs	(28)		(41)		(42)		(15)		(126)
Currency	87		21		(79)		116		145
Goodwill impairment charge	—		—		—		—		—
Other income/expense methodology differences	(250)		(168)		(166)		(156)		(740)
Other methodology differences	(34)		(25)		(14)		(8)		(81)
Total consolidated profit before taxes	$	3,532	$	3,500	$	3,098	$	3,243	$	13,373

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,
	2025		2024
Assets from reportable segments:
Construction Industries	$	5,442	$	5,546
Resource Industries	9,036		9,009
Power & Energy	8,438		8,845
Financial Products Segment	41,476		36,925
Total assets from reportable segments	64,392		60,325
Assets from All Other Segment	1,516		1,403
Items not included in segment assets:
Cash and cash equivalents	9,333		6,165


Deferred income taxes	2,749		3,194
Goodwill and intangible assets	4,669		4,478
Property, plant and equipment – net and other assets	4,689		4,808
Inventory methodology differences	(3,622)		(3,560)
Liabilities included in segment assets	15,330		11,973
Other	(471)		(1,022)
Total assets	$	98,585	$	87,764

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


Reconciliation of Depreciation and amortization:
(Millions of dollars)
	2025
	Three months ended March 31,		Three months ended June 30,		Three months ended September 30,		Three months ended December 31,		Year ended December 31,
Depreciation and amortization from reportable segments:
Construction Industries	$	63	$	66	$	67	$	70	$	266
Resource Industries	97		99		100		99		395
Power & Energy	116		121		132		149		518
Financial Products Segment	178		178		178		185		719
Total depreciation and amortization from reportable segments	454		464		477		503		1,898
Items not included in segment depreciation and amortization:
All Other Segment	63		66		68		70		267
Cost centers	24		25		26		28		103
Other	(1)		(1)		(1)		(3)		(6)
Total depreciation and amortization	$	540	$	554	$	570	$	598	$	2,262

	2024
	Three months ended March 31,		Three months ended June 30,		Three months ended September 30,		Three months ended December 31,		Year ended December 31,
Depreciation and amortization from reportable segments:
Construction Industries	$	56	$	57	$	60	$	60	$	233
Resource Industries	93		94		95		99		381
Power & Energy	100		104		110		113		427
Financial Products Segment	185		185		184		186		740
Total depreciation and amortization from reportable segments	434		440		449		458		1,781
Items not included in segment depreciation and amortization:
All Other Segment	67		70		71		76		284
Cost centers	23		24		25		23		95
Other	—		(3)		(2)		(2)		(7)
Total depreciation and amortization	$	524	$	531	$	543	$	555	$	2,153

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


Reconciliation of Capital expenditures:
(Millions of dollars)
	2025
	Three months ended March 31,		Three months ended June 30,		Three months ended September 30,		Three months ended December 31,		Year ended December 31,
Capital expenditures from reportable segments:
Construction Industries	$	46	$	64	$	86	$	162	$	358
Resource Industries	110		111		162		243		626
Power & Energy	240		374		368		519		1,501
Financial Products Segment	170		379		359		433		1,341
Total capital expenditures from reportable segments	566		928		975		1,357		3,826
Items not included in segment capital expenditures:
All Other Segment	36		59		72		87		254
Cost centers	27		35		38		(2)		98
Timing	295		(70)		(6)		(197)		22
Other	(6)		3		(8)		97		86
Total capital expenditures	$	918	$	955	$	1,071	$	1,342	$	4,286

	2024
	Three months ended March 31,		Three months ended June 30,		Three months ended September 30,		Three months ended December 31,		Year ended December 31,
Capital expenditures from reportable segments:
Construction Industries	$	58	$	55	$	66	$	144	$	323
Resource Industries	45		115		90		210		460
Power & Energy	104		186		257		500		1,047
Financial Products Segment	234		320		264		267		1,085
Total capital expenditures from reportable segments	441		676		677		1,121		2,915
Items not included in segment capital expenditures:
All Other Segment	36		65		73		111		285
Cost centers	30		24		60		79		193
Timing	245		(37)		(71)		(286)		(149)
Other	(16)		(9)		(16)		12		(29)
Total capital expenditures	$	736	$	719	$	723	$	1,037	$	3,215

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Segment information (Tables)

12 Months Ended

Dec. 31, 2025

Segment Reporting [Abstract]

Disaggregation of revenue

For the three months ended March 31, June 30, September 30, and December 31, 2025, and 2024 and years ended December 31, 2025, and 2024, sales and revenues by geographic region reconciled to consolidated sales and revenues were as follows:


Sales and Revenues by Geographic Region
(Millions of dollars)
	North America		Latin America		EAME		Asia/ Pacific		External Sales and Revenues			Intersegment Sales and Revenues		Total Sales and Revenues
Three months ended March 31, 2025
Construction Industries	$	2,904	$	504	$	867	$	869	$	5,144		$	40	$	5,184
Resource Industries	1,610		606		510		860		3,586			75		3,661
Power & Energy	2,625		326		1,026		677		4,654			1,129		5,783
Financial Products Segment	682		99		122		104		1,007		1	—		1,007
Total sales and revenues from reportable segments	7,821		1,535		2,525		2,510		14,391			1,244		15,635
All Other Segment	8		—		1		2		11			59		70
Corporate Items and Eliminations	(91)		(20)		(20)		(22)		(153)			(1,303)		(1,456)
Total Sales and Revenues	$	7,738	$	1,515	$	2,506	$	2,490	$	14,249		$	—	$	14,249
1 Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $163 million.

Three months ended June 30, 2025
Construction Industries	$	3,369	$	540	$	1,185	$	1,029	$	6,123		$	67	$	6,190
Resource Industries	1,668		592		584		945		3,789			97		3,886
Power & Energy	3,225		442		1,306		821		5,794			1,243		7,037
Financial Products Segment	703		105		126		108		1,042		1	—		1,042
Total sales and revenues from reportable segments	8,965		1,679		3,201		2,903		16,748			1,407		18,155
All Other Segment	6		—		1		6		13			72		85
Corporate Items and Eliminations	(120)		(23)		(22)		(27)		(192)			(1,479)		(1,671)
Total Sales and Revenues	$	8,851	$	1,656	$	3,180	$	2,882	$	16,569		$	—	$	16,569
1 Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $172 million.

Three months ended September 30, 2025
Construction Industries	$	3,912	$	654	$	1,217	$	904	$	6,687		$	73	$	6,760
Resource Industries	1,721		605		612		977		3,915			84		3,999
Power & Energy	3,478		496		1,296		911		6,181			1,282		7,463
Financial Products Segment	722		118		130		106		1,076		1	—		1,076
Total sales and revenues from reportable segments	9,833		1,873		3,255		2,898		17,859			1,439		19,298
All Other Segment	5		—		2		3		10			63		73
Corporate Items and Eliminations	(157)		(23)		(26)		(25)		(231)			(1,502)		(1,733)
Total Sales and Revenues	$	9,681	$	1,850	$	3,231	$	2,876	$	17,638		$	—	$	17,638
1 Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $187 million.


	North America		Latin America		EAME		Asia/ Pacific		External Sales and Revenues			Intersegment Sales and Revenues		Total Sales and Revenues
Three months ended December 31, 2025
Construction Industries	$	3,879	$	660	$	1,326	$	981	$	6,846		$	80	$	6,926
Resource Industries	1,884		747		680		980		4,291			83		4,374
Power & Energy	3,990		464		1,763		901		7,118			1,223		8,341
Financial Products Segment	734		120		133		108		1,095		1	—		1,095
Total sales and revenues from reportable segments	10,487		1,991		3,902		2,970		19,350			1,386		20,736
All Other Segment	7		—		2		3		12			87		99
Corporate Items and Eliminations	(155)		(24)		(28)		(22)		(229)			(1,473)		(1,702)
Total Sales and Revenues	$	10,339	$	1,967	$	3,876	$	2,951	$	19,133		$	—	$	19,133
1 Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of$190 million.

Year ended December 31, 2025
Construction Industries	$	14,064	$	2,358	$	4,595	$	3,783	$	24,800		$	260	$	25,060
Resource Industries	6,883		2,550		2,386		3,762		15,581			339		15,920
Power & Energy	13,318		1,728		5,391		3,310		23,747			4,877		28,624
Financial Products Segment	2,841		442		511		426		4,220		1	—		4,220
Total sales and revenues from reportable segments	37,106		7,078		12,883		11,281		68,348			5,476		73,824
All Other Segment	26		—		6		14		46			281		327
Corporate Items and Eliminations	(523)		(90)		(96)		(96)		(805)			(5,757)		(6,562)
Total Sales and Revenues	$	36,609	$	6,988	$	12,793	$	11,199	$	67,589		$	—	$	67,589
1 Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $712 million.



Three months ended March 31, 2024
Construction Industries	$	3,833	$	595	$	996	$	993	$	6,417		$	7	$	6,424
Resource Industries	1,791		541		579		996		3,907			108		4,015
Power & Energy	2,432		343		1,182		740		4,697			1,165		5,862
Financial Products Segment	659		101		123		108		991		1	—		991
Total sales and revenues from reportable segments	8,715		1,580		2,880		2,837		16,012			1,280		17,292
All Other Segment	8		(1)		3		2		12			75		87
Corporate Items and Eliminations	(150)		(20)		(31)		(24)		(225)			(1,355)		(1,580)
Total Sales and Revenues	$	8,573	$	1,559	$	2,852	$	2,815	$	15,799		$	—	$	15,799
1 Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $177 million.

Three months ended June 30, 2024
Construction Industries	$	3,957	$	677	$	1,047	$	975	$	6,656		$	27	$	6,683
Resource Industries	1,734		571		585		1,047		3,937			93		4,030
Power & Energy	2,792		392		1,279		824		5,287			1,230		6,517
Financial Products Segment	668		101		124		111		1,004		1	—		1,004
Total sales and revenues from reportable segments	9,151		1,741		3,035		2,957		16,884			1,350		18,234
All Other Segment	4		—		2		2		8			79		87
Corporate Items and Eliminations	(112)		(22)		(40)		(29)		(203)			(1,429)		(1,632)
Total Sales and Revenues	$	9,043	$	1,719	$	2,997	$	2,930	$	16,689		$	—	$	16,689
1 Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $180 million.


	North America		Latin America		EAME		Asia/ Pacific		External Sales and Revenues			Intersegment Sales and Revenues		Total Sales and Revenues
Three months ended September 30, 2024
Construction Industries	$	3,629	$	658	$	1,150	$	875	$	6,312		$	33	$	6,345
Resource Industries	1,647		543		579		954		3,723			105		3,828
Power & Energy	2,708		404		1,351		773		5,236			1,151		6,387
Financial Products Segment	695		97		130		112		1,034		1	—		1,034
Total sales and revenues from reportable segments	8,679		1,702		3,210		2,714		16,305			1,289		17,594
All Other Segment	1		(1)		1		7		8			64		72
Corporate Items and Eliminations	(135)		(23)		(12)		(37)		(207)			(1,353)		(1,560)
Total Sales and Revenues	$	8,545	$	1,678	$	3,199	$	2,684	$	16,106		$	—	$	16,106
1 Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $190 million.

Three months ended December 31, 2024
Construction Industries	$	3,157	$	623	$	1,122	$	1,057	$	5,959		$	44	$	6,003
Resource Industries	1,487		618		607		1,052		3,764			108		3,872
Power & Energy	3,011		429		1,434		762		5,636			1,104		6,740
Financial Products Segment	680		103		128		113		1,024		1	—		1,024
Total sales and revenues from reportable segments	8,335		1,773		3,291		2,984		16,383			1,256		17,639
All Other Segment	7		—		1		—		8			90		98
Corporate Items and Eliminations	(106)		(21)		(24)		(25)		(176)			(1,346)		(1,522)
Total Sales and Revenues	$	8,236	$	1,752	$	3,268	$	2,959	$	16,215		$	—	$	16,215
1 Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $164 million.

Year ended December 31, 2024
Construction Industries	$	14,576	$	2,553	$	4,315	$	3,900	$	25,344		$	111	$	25,455
Resource Industries	6,659		2,273		2,350		4,049		15,331			414		15,745
Power & Energy	10,943		1,568		5,246		3,099		20,856			4,650		25,506
Financial Products Segment	2,702		402		505		444		4,053		1	—		4,053
Total sales and revenues from reportable segments	34,880		6,796		12,416		11,492		65,584			5,175		70,759
All Other Segment	20		(2)		7		11		36			308		344
Corporate Items and Eliminations	(503)		(86)		(107)		(115)		(811)			(5,483)		(6,294)
Total Sales and Revenues	$	34,397	$	6,708	$	12,316	$	11,388	$	64,809		$	—	$	64,809
1 Includes revenues from Construction Industries, Resource Industries, Power & Energy and All Other Segment of $711 million.

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


Power & Energy External Sales
(Millions of dollars)
	2025
	Three months ended March 31,		Three months ended June 30,		Three months ended September 30,		Three months ended December 31,		Year ended December 31,
Oil and Gas	$	1,258	$	1,867	$	1,979	$	2,398	$	7,502
Power Generation	1,996		2,407		2,634		3,238		10,275
Industrial	1,400		1,520		1,568		1,482		5,970
Power & Energy External Sales	$	4,654	$	5,794	$	6,181	$	7,118	$	23,747

	2024
	Three months ended March 31,		Three months ended June 30,		Three months ended September 30,		Three months ended December 31,		Year ended December 31,
Oil and Gas	$	1,568	$	1,829	$	1,656	$	1,927	$	6,980
Power Generation	1,618		1,885		2,011		2,242		7,756
Industrial	1,511		1,573		1,569		1,467		6,120
Power & Energy External Sales	$	4,697	$	5,287	$	5,236	$	5,636	$	20,856

Reconciliation of profit from reportable segments

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


Profit from Reportable Segments
(Millions of dollars)
	Construction Industries		Resource Industries		Power & Energy		Financial Products Segment		Total from Reportable Segments
Three months ended March 31, 2025
Sales and revenues	$	5,184	$	3,661	$	5,783	$	1,007	$	15,635
Less 1:
Cost of goods sold	3,718		2,612		3,834		—		10,164
SG&A/R&D 2	451		439		691		195		1,776
Other segment items 3	(9)		(13)		(30)		597		545
Segment Profit	$	1,024	$	623	$	1,288	$	215	$	3,150

Three months ended June 30, 2025
Sales and revenues	$	6,190	$	3,886	$	7,037	$	1,042	$	18,155
Less 1:
Cost of goods sold	4,459		2,851		4,751		—		12,061
SG&A/R&D 2	470		465		730		204		1,869
Other segment items 3	17		7		2		590		616
Segment Profit	$	1,244	$	563	$	1,554	$	248	$	3,609

Three months ended September 30, 2025
Sales and revenues	$	6,760	$	3,999	$	7,463	$	1,076	$	19,298
Less 1:
Cost of goods sold	4,874		2,994		5,101		—		12,969
SG&A/R&D 2	472		461		724		215		1,872
Other segment items 3	37		—		5		620		662
Segment Profit	$	1,377	$	544	$	1,633	$	241	$	3,795

Three months ended December 31, 2025
Sales and revenues	$	6,926	$	4,374	$	8,341	$	1,095	$	20,736
Less 1:
Cost of goods sold	5,342		3,441		5,777		—		14,560
SG&A/R&D 2	509		506		828		215		2,058
Other segment items 3	45		6		(45)		618		624
Segment Profit	$	1,030	$	421	$	1,781	$	262	$	3,494

Year ended December 31, 2025
Sales and revenues	$	25,060	$	15,920	$	28,624	$	4,220	$	73,824
Less 1:
Cost of goods sold	18,393		11,898		19,463		—		49,754
SG&A/R&D 2	1,902		1,871		2,973		829		7,575
Other segment items 3	90		—		(68)		2,425		2,447
Segment Profit	$	4,675	$	2,151	$	6,256	$	966	$	14,048


	Construction Industries		Resource Industries		Power & Energy		Financial Products Segment		Total from Reportable Segments
Three months ended March 31, 2024
Sales and revenues	$	6,424	$	4,015	$	5,862	$	991	$	17,292
Less 1:
Cost of goods sold	4,210		2,807		3,888		—		10,905
SG&A/R&D 2	446		435		687		173		1,741
Other segment items 3	4		21		10		525		560
Segment Profit	$	1,764	$	752	$	1,277	$	293	$	4,086

Three months ended June 30, 2024
Sales and revenues	$	6,683	$	4,030	$	6,517	$	1,004	$	18,234
Less 1:
Cost of goods sold	4,470		2,808		4,316		—		11,594
SG&A/R&D 2	477		434		712		182		1,805
Other segment items 3	(5)		25		8		595		623
Segment Profit	$	1,741	$	763	$	1,481	$	227	$	4,212

Three months ended September 30, 2024
Sales and revenues	$	6,345	$	3,828	$	6,387	$	1,034	$	17,594
Less 1:
Cost of goods sold	4,349		2,691		4,242		—		11,282
SG&A/R&D 2	483		464		741		193		1,881
Other segment items 3	27		20		4		595		646
Segment Profit	$	1,486	$	653	$	1,400	$	246	$	3,785

Three months ended December 31, 2024
Sales and revenues	$	6,003	$	3,872	$	6,740	$	1,024	$	17,639
Less 1:
Cost of goods sold	4,297		2,864		4,558		—		11,719
SG&A/R&D 2	525		486		742		223		1,976
Other segment items 3	7		14		—		635		656
Segment Profit	$	1,174	$	508	$	1,440	$	166	$	3,288

Year ended December 31, 2024
Sales and revenues	$	25,455	$	15,745	$	25,506	$	4,053	$	70,759
Less 1:
Cost of goods sold	17,326		11,170		17,004		—		45,500
SG&A/R&D 2	1,931		1,819		2,882		771		7,403
Other segment items 3	33		80		22		2,350		2,485
Segment Profit	$	6,165	$	2,676	$	5,598	$	932	$	15,371

1 The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM. Inter-segment income/expenses are included within the amounts shown.
2 Includes selling, general and administrative (SG&A) and research and development (R&D) expenses. The combined presentation aligns with the segment-level information that is regularly provided to the CODM.
3 Other segment items for each reportable segment primarily includes: Construction Industries/Resource Industries/Power & Energy – other operating (income) expenses, currency impacts defined as a methodology difference between exchange rates used in U.S. GAAP and segment reporting, and equity in (profit) loss of unconsolidated affiliated companies. Financial Products Segment – interest expense, Cat Financial’s depreciation on equipment leased to others, Insurance Services’ underwriting expenses and investment and interest income, and foreign exchange (gains) losses.

Reconciliation of consolidated profit before taxes

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


Reconciliation of Consolidated profit before taxes:
(Millions of dollars)
	2025
	Three months ended March 31,		Three months ended June 30,		Three months ended September 30,		Three months ended December 31,		Year ended December 31,
Total profit from reportable segments	$	3,150	$	3,609	$	3,795	$	3,494	$	14,048
Profit from All Other Segment	(19)		—		(6)		17		(8)
Cost centers	4		(10)		6		(11)		(11)
Corporate costs	(213)		(211)		(308)		(274)		(1,006)
Timing	(7)		(76)		(119)		27		(175)
Restructuring costs	(33)		(56)		(37)		(319)		(445)
Methodology differences:
Inventory/cost of sales	(27)		(21)		56		41		49
Postretirement benefit income (expense)	14		(67)		(63)		301		185
Stock-based compensation expense	(45)		(85)		(66)		(34)		(230)
Financing costs	(46)		(68)		(54)		(12)		(180)
Currency	(54)		(95)		18		50		(81)
Goodwill impairment charge	—		—		—		—		—
Other income/expense methodology differences	(142)		(86)		(89)		(153)		(470)
Other methodology differences	(12)		(16)		(6)		(101)		(135)
Total consolidated profit before taxes	$	2,570	$	2,818	$	3,127	$	3,026	$	11,541


	2024
	Three months ended March 31,		Three months ended June 30,		Three months ended September 30,		Three months ended December 31,		Year ended December 31,
Total profit from reportable segments	$	4,086	$	4,212	$	3,785	$	3,288	$	15,371
Profit from All Other 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:
Inventory/cost of sales	(6)		9		13		17		33
Postretirement benefit income (expense)	(56)		1		(51)		173		67
Stock-based compensation expense	(44)		(75)		(52)		(52)		(223)
Financing costs	(28)		(41)		(42)		(15)		(126)
Currency	87		21		(79)		116		145
Goodwill impairment charge	—		—		—		—		—
Other income/expense methodology differences	(250)		(168)		(166)		(156)		(740)
Other methodology differences	(34)		(25)		(14)		(8)		(81)
Total consolidated profit before taxes	$	3,532	$	3,500	$	3,098	$	3,243	$	13,373

Reconciliation of assets

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,
	2025		2024
Assets from reportable segments:
Construction Industries	$	5,442	$	5,546
Resource Industries	9,036		9,009
Power & Energy	8,438		8,845
Financial Products Segment	41,476		36,925
Total assets from reportable segments	64,392		60,325
Assets from All Other Segment	1,516		1,403
Items not included in segment assets:
Cash and cash equivalents	9,333		6,165


Deferred income taxes	2,749		3,194
Goodwill and intangible assets	4,669		4,478
Property, plant and equipment – net and other assets	4,689		4,808
Inventory methodology differences	(3,622)		(3,560)
Liabilities included in segment assets	15,330		11,973
Other	(471)		(1,022)
Total assets	$	98,585	$	87,764

Reconciliation of depreciation and amortization

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


Reconciliation of Depreciation and amortization:
(Millions of dollars)
	2025
	Three months ended March 31,		Three months ended June 30,		Three months ended September 30,		Three months ended December 31,		Year ended December 31,
Depreciation and amortization from reportable segments:
Construction Industries	$	63	$	66	$	67	$	70	$	266
Resource Industries	97		99		100		99		395
Power & Energy	116		121		132		149		518
Financial Products Segment	178		178		178		185		719
Total depreciation and amortization from reportable segments	454		464		477		503		1,898
Items not included in segment depreciation and amortization:
All Other Segment	63		66		68		70		267
Cost centers	24		25		26		28		103
Other	(1)		(1)		(1)		(3)		(6)
Total depreciation and amortization	$	540	$	554	$	570	$	598	$	2,262

	2024
	Three months ended March 31,		Three months ended June 30,		Three months ended September 30,		Three months ended December 31,		Year ended December 31,
Depreciation and amortization from reportable segments:
Construction Industries	$	56	$	57	$	60	$	60	$	233
Resource Industries	93		94		95		99		381
Power & Energy	100		104		110		113		427
Financial Products Segment	185		185		184		186		740
Total depreciation and amortization from reportable segments	434		440		449		458		1,781
Items not included in segment depreciation and amortization:
All Other Segment	67		70		71		76		284
Cost centers	23		24		25		23		95
Other	—		(3)		(2)		(2)		(7)
Total depreciation and amortization	$	524	$	531	$	543	$	555	$	2,153

Reconciliation of capital expenditures

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


Reconciliation of Capital expenditures:
(Millions of dollars)
	2025
	Three months ended March 31,		Three months ended June 30,		Three months ended September 30,		Three months ended December 31,		Year ended December 31,
Capital expenditures from reportable segments:
Construction Industries	$	46	$	64	$	86	$	162	$	358
Resource Industries	110		111		162		243		626
Power & Energy	240		374		368		519		1,501
Financial Products Segment	170		379		359		433		1,341
Total capital expenditures from reportable segments	566		928		975		1,357		3,826
Items not included in segment capital expenditures:
All Other Segment	36		59		72		87		254
Cost centers	27		35		38		(2)		98
Timing	295		(70)		(6)		(197)		22
Other	(6)		3		(8)		97		86
Total capital expenditures	$	918	$	955	$	1,071	$	1,342	$	4,286

	2024
	Three months ended March 31,		Three months ended June 30,		Three months ended September 30,		Three months ended December 31,		Year ended December 31,
Capital expenditures from reportable segments:
Construction Industries	$	58	$	55	$	66	$	144	$	323
Resource Industries	45		115		90		210		460
Power & Energy	104		186		257		500		1,047
Financial Products Segment	234		320		264		267		1,085
Total capital expenditures from reportable segments	441		676		677		1,121		2,915
Items not included in segment capital expenditures:
All Other Segment	36		65		73		111		285
Cost centers	30		24		60		79		193
Timing	245		(37)		(71)		(286)		(149)
Other	(16)		(9)		(16)		12		(29)
Total capital expenditures	$	736	$	719	$	723	$	1,037	$	3,215

Segment information - Disaggregation of revenue (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2025	Sep. 30, 2025	Jun. 30, 2025	Mar. 31, 2025	Dec. 31, 2024	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2025	Dec. 31, 2024
Sales and revenue by geographic region
Total sales and revenues	$ (19,133)	$ (17,638)	$ (16,569)	$ (14,249)	$ (16,215)	$ (16,106)	$ (16,689)	$ (15,799)	$ (67,589)	$ (64,809)
Intersegment Sales and Revenues
Sales and revenue by geographic region
Total sales and revenues	1,473	1,502	1,479	1,303	1,346	1,353	1,429	1,355	5,757	5,483
Corporate Items and Eliminations
Sales and revenue by geographic region
Total sales and revenues	229	231	192	153	176	207	203	225	805	811
Corporate Reconciling Items and Eliminations
Sales and revenue by geographic region
Total sales and revenues	1,702	1,733	1,671	1,456	1,522	1,560	1,632	1,580	6,562	6,294
North  America
Sales and revenue by geographic region
Total sales and revenues	(10,339)	(9,681)	(8,851)	(7,738)	(8,236)	(8,545)	(9,043)	(8,573)	(36,609)	(34,397)
North  America \| Corporate Items and Eliminations
Sales and revenue by geographic region
Total sales and revenues	155	157	120	91	106	135	112	150	523	503
Latin  America
Sales and revenue by geographic region
Total sales and revenues	(1,967)	(1,850)	(1,656)	(1,515)	(1,752)	(1,678)	(1,719)	(1,559)	(6,988)	(6,708)
Latin  America \| Corporate Items and Eliminations
Sales and revenue by geographic region
Total sales and revenues	24	23	23	20	21	23	22	20	90	86
EAME
Sales and revenue by geographic region
Total sales and revenues	(3,876)	(3,231)	(3,180)	(2,506)	(3,268)	(3,199)	(2,997)	(2,852)	(12,793)	(12,316)
EAME \| Corporate Items and Eliminations
Sales and revenue by geographic region
Total sales and revenues	28	26	22	20	24	12	40	31	96	107
Asia/  Pacific
Sales and revenue by geographic region
Total sales and revenues	(2,951)	(2,876)	(2,882)	(2,490)	(2,959)	(2,684)	(2,930)	(2,815)	(11,199)	(11,388)
Asia/  Pacific \| Corporate Items and Eliminations
Sales and revenue by geographic region
Total sales and revenues	22	25	27	22	25	37	29	24	96	115
Segments Excluding All Other Segments \| Operating Segments Excluding Intersegment Eliminations
Sales and revenue by geographic region
Total sales and revenues	(19,350)	(17,859)	(16,748)	(14,391)	(16,383)	(16,305)	(16,884)	(16,012)	(68,348)	(65,584)
Segments Excluding All Other Segments \| Intersegment Sales and Revenues
Sales and revenue by geographic region
Total sales and revenues	1,386	1,439	1,407	1,244	1,256	1,289	1,350	1,280	5,476	5,175
Segments Excluding All Other Segments \| Operating Segments
Sales and revenue by geographic region
Total sales and revenues	(20,736)	(19,298)	(18,155)	(15,635)	(17,639)	(17,594)	(18,234)	(17,292)	(73,824)	(70,759)
Segments Excluding All Other Segments \| North  America \| Operating Segments Excluding Intersegment Eliminations
Sales and revenue by geographic region
Total sales and revenues	(10,487)	(9,833)	(8,965)	(7,821)	(8,335)	(8,679)	(9,151)	(8,715)	(37,106)	(34,880)
Segments Excluding All Other Segments \| Latin  America \| Operating Segments Excluding Intersegment Eliminations
Sales and revenue by geographic region
Total sales and revenues	(1,991)	(1,873)	(1,679)	(1,535)	(1,773)	(1,702)	(1,741)	(1,580)	(7,078)	(6,796)
Segments Excluding All Other Segments \| EAME \| Operating Segments Excluding Intersegment Eliminations
Sales and revenue by geographic region
Total sales and revenues	(3,902)	(3,255)	(3,201)	(2,525)	(3,291)	(3,210)	(3,035)	(2,880)	(12,883)	(12,416)
Segments Excluding All Other Segments \| Asia/  Pacific \| Operating Segments Excluding Intersegment Eliminations
Sales and revenue by geographic region
Total sales and revenues	(2,970)	(2,898)	(2,903)	(2,510)	(2,984)	(2,714)	(2,957)	(2,837)	(11,281)	(11,492)
Construction Industries \| Operating Segments Excluding Intersegment Eliminations
Sales and revenue by geographic region
Total sales and revenues	(6,846)	(6,687)	(6,123)	(5,144)	(5,959)	(6,312)	(6,656)	(6,417)	(24,800)	(25,344)
Construction Industries \| Intersegment Sales and Revenues
Sales and revenue by geographic region
Total sales and revenues	80	73	67	40	44	33	27	7	260	111
Construction Industries \| Operating Segments
Sales and revenue by geographic region
Total sales and revenues	(6,926)	(6,760)	(6,190)	(5,184)	(6,003)	(6,345)	(6,683)	(6,424)	(25,060)	(25,455)
Construction Industries \| North  America \| Operating Segments Excluding Intersegment Eliminations
Sales and revenue by geographic region
Total sales and revenues	(3,879)	(3,912)	(3,369)	(2,904)	(3,157)	(3,629)	(3,957)	(3,833)	(14,064)	(14,576)
Construction Industries \| Latin  America \| Operating Segments Excluding Intersegment Eliminations
Sales and revenue by geographic region
Total sales and revenues	(660)	(654)	(540)	(504)	(623)	(658)	(677)	(595)	(2,358)	(2,553)
Construction Industries \| EAME \| Operating Segments Excluding Intersegment Eliminations
Sales and revenue by geographic region
Total sales and revenues	(1,326)	(1,217)	(1,185)	(867)	(1,122)	(1,150)	(1,047)	(996)	(4,595)	(4,315)
Construction Industries \| Asia/  Pacific \| Operating Segments Excluding Intersegment Eliminations
Sales and revenue by geographic region
Total sales and revenues	(981)	(904)	(1,029)	(869)	(1,057)	(875)	(975)	(993)	(3,783)	(3,900)
Resource Industries \| Operating Segments Excluding Intersegment Eliminations
Sales and revenue by geographic region
Total sales and revenues	(4,291)	(3,915)	(3,789)	(3,586)	(3,764)	(3,723)	(3,937)	(3,907)	(15,581)	(15,331)
Resource Industries \| Intersegment Sales and Revenues
Sales and revenue by geographic region
Total sales and revenues	83	84	97	75	108	105	93	108	339	414
Resource Industries \| Operating Segments
Sales and revenue by geographic region
Total sales and revenues	(4,374)	(3,999)	(3,886)	(3,661)	(3,872)	(3,828)	(4,030)	(4,015)	(15,920)	(15,745)
Resource Industries \| North  America \| Operating Segments Excluding Intersegment Eliminations
Sales and revenue by geographic region
Total sales and revenues	(1,884)	(1,721)	(1,668)	(1,610)	(1,487)	(1,647)	(1,734)	(1,791)	(6,883)	(6,659)
Resource Industries \| Latin  America \| Operating Segments Excluding Intersegment Eliminations
Sales and revenue by geographic region
Total sales and revenues	(747)	(605)	(592)	(606)	(618)	(543)	(571)	(541)	(2,550)	(2,273)
Resource Industries \| EAME \| Operating Segments Excluding Intersegment Eliminations
Sales and revenue by geographic region
Total sales and revenues	(680)	(612)	(584)	(510)	(607)	(579)	(585)	(579)	(2,386)	(2,350)
Resource Industries \| Asia/  Pacific \| Operating Segments Excluding Intersegment Eliminations
Sales and revenue by geographic region
Total sales and revenues	(980)	(977)	(945)	(860)	(1,052)	(954)	(1,047)	(996)	(3,762)	(4,049)
Power & Energy
Sales and revenue by geographic region
Total sales and revenues	(7,118)	(6,181)	(5,794)	(4,654)	(5,636)	(5,236)	(5,287)	(4,697)	(23,747)	(20,856)
Power & Energy \| Operating Segments Excluding Intersegment Eliminations
Sales and revenue by geographic region
Total sales and revenues	(7,118)	(6,181)	(5,794)	(4,654)	(5,636)	(5,236)	(5,287)	(4,697)	(23,747)	(20,856)
Power & Energy \| Intersegment Sales and Revenues
Sales and revenue by geographic region
Total sales and revenues	1,223	1,282	1,243	1,129	1,104	1,151	1,230	1,165	4,877	4,650
Power & Energy \| Operating Segments
Sales and revenue by geographic region
Total sales and revenues	(8,341)	(7,463)	(7,037)	(5,783)	(6,740)	(6,387)	(6,517)	(5,862)	(28,624)	(25,506)
Power & Energy \| North  America \| Operating Segments Excluding Intersegment Eliminations
Sales and revenue by geographic region
Total sales and revenues	(3,990)	(3,478)	(3,225)	(2,625)	(3,011)	(2,708)	(2,792)	(2,432)	(13,318)	(10,943)
Power & Energy \| Latin  America \| Operating Segments Excluding Intersegment Eliminations
Sales and revenue by geographic region
Total sales and revenues	(464)	(496)	(442)	(326)	(429)	(404)	(392)	(343)	(1,728)	(1,568)
Power & Energy \| EAME \| Operating Segments Excluding Intersegment Eliminations
Sales and revenue by geographic region
Total sales and revenues	(1,763)	(1,296)	(1,306)	(1,026)	(1,434)	(1,351)	(1,279)	(1,182)	(5,391)	(5,246)
Power & Energy \| Asia/  Pacific \| Operating Segments Excluding Intersegment Eliminations
Sales and revenue by geographic region
Total sales and revenues	(901)	(911)	(821)	(677)	(762)	(773)	(824)	(740)	(3,310)	(3,099)
Financial Products Segment \| Related Party
Sales and revenue by geographic region
Total sales and revenues	(190)	(187)	(172)	(163)	(164)	(190)	(180)	(177)	(712)	(711)
Financial Products Segment \| Operating Segments Excluding Intersegment Eliminations
Sales and revenue by geographic region
Total sales and revenues	(1,095)	(1,076)	(1,042)	(1,007)	(1,024)	(1,034)	(1,004)	(991)	(4,220)	(4,053)
Financial Products Segment \| Intersegment Sales and Revenues
Sales and revenue by geographic region
Total sales and revenues	0	0	0	0	0	0	0	0	0	0
Financial Products Segment \| Operating Segments
Sales and revenue by geographic region
Total sales and revenues	(1,095)	(1,076)	(1,042)	(1,007)	(1,024)	(1,034)	(1,004)	(991)	(4,220)	(4,053)
Financial Products Segment \| North  America \| Operating Segments Excluding Intersegment Eliminations
Sales and revenue by geographic region
Total sales and revenues	(734)	(722)	(703)	(682)	(680)	(695)	(668)	(659)	(2,841)	(2,702)
Financial Products Segment \| Latin  America \| Operating Segments Excluding Intersegment Eliminations
Sales and revenue by geographic region
Total sales and revenues	(120)	(118)	(105)	(99)	(103)	(97)	(101)	(101)	(442)	(402)
Financial Products Segment \| EAME \| Operating Segments Excluding Intersegment Eliminations
Sales and revenue by geographic region
Total sales and revenues	(133)	(130)	(126)	(122)	(128)	(130)	(124)	(123)	(511)	(505)
Financial Products Segment \| Asia/  Pacific \| Operating Segments Excluding Intersegment Eliminations
Sales and revenue by geographic region
Total sales and revenues	(108)	(106)	(108)	(104)	(113)	(112)	(111)	(108)	(426)	(444)
All Other Segment
Sales and revenue by geographic region
Total sales and revenues	(12)	(10)	(13)	(11)	(8)	(8)	(8)	(12)	(46)	(36)
All Other Segment \| Intersegment Sales and Revenues
Sales and revenue by geographic region
Total sales and revenues	87	63	72	59	90	64	79	75	281	308
All Other Segment \| Operating Segments
Sales and revenue by geographic region
Total sales and revenues	(99)	(73)	(85)	(70)	(98)	(72)	(87)	(87)	(327)	(344)
All Other Segment \| North  America \| Operating Segments
Sales and revenue by geographic region
Total sales and revenues	(7)	(5)	(6)	(8)	(7)	(1)	(4)	(8)	(26)	(20)
All Other Segment \| Latin  America \| Operating Segments
Sales and revenue by geographic region
Total sales and revenues	0	0	0	0	0	1	0	1	0	2
All Other Segment \| EAME \| Operating Segments
Sales and revenue by geographic region
Total sales and revenues	(2)	(2)	(1)	(1)	(1)	(1)	(2)	(3)	(6)	(7)
All Other Segment \| Asia/  Pacific \| Operating Segments
Sales and revenue by geographic region
Total sales and revenues	$ (3)	$ (3)	$ (6)	$ (2)	$ 0	$ (7)	$ (2)	$ (2)	$ (14)	$ (11)

Segment information - Energy & transportation sales (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2025	Sep. 30, 2025	Jun. 30, 2025	Mar. 31, 2025	Dec. 31, 2024	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2025	Dec. 31, 2024
Energy and transportation sales
Sales and revenues	$ 19,133	$ 17,638	$ 16,569	$ 14,249	$ 16,215	$ 16,106	$ 16,689	$ 15,799	$ 67,589	$ 64,809
Power & Energy
Energy and transportation sales
Sales and revenues	7,118	6,181	5,794	4,654	5,636	5,236	5,287	4,697	23,747	20,856
Power & Energy \| Oil and Gas
Energy and transportation sales
Sales and revenues	2,398	1,979	1,867	1,258	1,927	1,656	1,829	1,568	7,502	6,980
Power & Energy \| Power Generation
Energy and transportation sales
Sales and revenues	3,238	2,634	2,407	1,996	2,242	2,011	1,885	1,618	10,275	7,756
Power & Energy \| Industrial
Energy and transportation sales
Sales and revenues	$ 1,482	$ 1,568	$ 1,520	$ 1,400	$ 1,467	$ 1,569	$ 1,573	$ 1,511	$ 5,970	$ 6,120

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

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+ Details

Segment information - Reconciliation of profit from reportable segments (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2025	Sep. 30, 2025	Jun. 30, 2025	Mar. 31, 2025	Dec. 31, 2024	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2025	Dec. 31, 2024
Segment Reporting Information
Sales and revenues	$ 19,133	$ 17,638	$ 16,569	$ 14,249	$ 16,215	$ 16,106	$ 16,689	$ 15,799	$ 67,589	$ 64,809
Less:
Segment Profit	3,026	3,127	2,818	2,570	3,243	3,098	3,500	3,532	11,541	13,373
Total from Reportable Segments
Less:
Segment Profit	3,494	3,795	3,609	3,150	3,288	3,785	4,212	4,086	14,048	15,371
Total from Reportable Segments \| Operating Segments
Segment Reporting Information
Sales and revenues	20,736	19,298	18,155	15,635	17,639	17,594	18,234	17,292	73,824	70,759
Less:
Cost of goods sold	14,560	12,969	12,061	10,164	11,719	11,282	11,594	10,905	49,754	45,500
SG&A/R&D	2,058	1,872	1,869	1,776	1,976	1,881	1,805	1,741	7,575	7,403
Other segment reporting items	624	662	616	545	656	646	623	560	2,447	2,485
Segment Profit	3,494	3,795	3,609	3,150	3,288	3,785	4,212	4,086	14,048	15,371
Construction Industries \| Operating Segments
Segment Reporting Information
Sales and revenues	6,926	6,760	6,190	5,184	6,003	6,345	6,683	6,424	25,060	25,455
Less:
Cost of goods sold	5,342	4,874	4,459	3,718	4,297	4,349	4,470	4,210	18,393	17,326
SG&A/R&D	509	472	470	451	525	483	477	446	1,902	1,931
Other segment reporting items	45	37	17	(9)	7	27	(5)	4	90	33
Segment Profit	1,030	1,377	1,244	1,024	1,174	1,486	1,741	1,764	4,675	6,165
Resource Industries \| Operating Segments
Segment Reporting Information
Sales and revenues	4,374	3,999	3,886	3,661	3,872	3,828	4,030	4,015	15,920	15,745
Less:
Cost of goods sold	3,441	2,994	2,851	2,612	2,864	2,691	2,808	2,807	11,898	11,170
SG&A/R&D	506	461	465	439	486	464	434	435	1,871	1,819
Other segment reporting items	6	0	7	(13)	14	20	25	21	0	80
Segment Profit	421	544	563	623	508	653	763	752	2,151	2,676
Power & Energy
Segment Reporting Information
Sales and revenues	7,118	6,181	5,794	4,654	5,636	5,236	5,287	4,697	23,747	20,856
Power & Energy \| Operating Segments
Segment Reporting Information
Sales and revenues	8,341	7,463	7,037	5,783	6,740	6,387	6,517	5,862	28,624	25,506
Less:
Cost of goods sold	5,777	5,101	4,751	3,834	4,558	4,242	4,316	3,888	19,463	17,004
SG&A/R&D	828	724	730	691	742	741	712	687	2,973	2,882
Other segment reporting items	(45)	5	2	(30)	0	4	8	10	(68)	22
Segment Profit	1,781	1,633	1,554	1,288	1,440	1,400	1,481	1,277	6,256	5,598
Financial Products Segment \| Operating Segments
Segment Reporting Information
Sales and revenues	1,095	1,076	1,042	1,007	1,024	1,034	1,004	991	4,220	4,053
Less:
Cost of goods sold	0	0	0	0	0	0	0	0	0	0
SG&A/R&D	215	215	204	195	223	193	182	173	829	771
Other segment reporting items	618	620	590	597	635	595	595	525	2,425	2,350
Segment Profit	$ 262	$ 241	$ 248	$ 215	$ 166	$ 246	$ 227	$ 293	$ 966	$ 932

Segment information - Reconciliations of consolidated profit before taxes (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2025	Sep. 30, 2025	Jun. 30, 2025	Mar. 31, 2025	Dec. 31, 2024	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2025	Dec. 31, 2024
Sales and revenue by geographic region
Consolidated profit before tax	$ 3,026	$ 3,127	$ 2,818	$ 2,570	$ 3,243	$ 3,098	$ 3,500	$ 3,532	$ 11,541	$ 13,373
Cost centers	(11)	6	(10)	4	(8)	(5)	(2)	14	(11)	(1)
Corporate costs	(274)	(308)	(211)	(213)	(207)	(205)	(276)	(201)	(1,006)	(889)
Timing	27	(119)	(76)	(7)	121	(3)	82	(67)	(175)	133
Restructuring costs	(319)	(37)	(56)	(33)	(37)	(70)	(258)	6	(445)	(359)
Methodology differences:
Inventory/cost of sales	41	56	(21)	(27)	17	13	9	(6)	49	33
Postretirement benefit income (expense)	301	(63)	(67)	14	173	(51)	1	(56)	185	67
Stock-based compensation expense	(34)	(66)	(85)	(45)	(52)	(52)	(75)	(44)	(230)	(223)
Financing costs	(12)	(54)	(68)	(46)	(15)	(42)	(41)	(28)	(180)	(126)
Currency	50	18	(95)	(54)	116	(79)	21	87	(81)	145
Goodwill impairment charge	0	0	0	0	0	0	0	0	0	0
Other income/expense methodology differences	(153)	(89)	(86)	(142)	(156)	(166)	(168)	(250)	(470)	(740)
Other methodology differences	(101)	(6)	(16)	(12)	(8)	(14)	(25)	(34)	(135)	(81)
Segments Excluding All Other Segments
Sales and revenue by geographic region
Consolidated profit before tax	3,494	3,795	3,609	3,150	3,288	3,785	4,212	4,086	14,048	15,371
All Other Segment
Sales and revenue by geographic region
Consolidated profit before tax	$ 17	$ (6)	$ 0	$ (19)	$ 11	$ (13)	$ 20	$ 25	$ (8)	$ 43

Segment information - Reconciliation of assets (Details) - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Reconciliation of assets
Segment assets	$ 98,585	$ 87,764
Operating Segments
Reconciliation of assets
Segment assets	64,392	60,325
Operating Segments \| Construction Industries
Reconciliation of assets
Segment assets	5,442	5,546
Operating Segments \| Resource Industries
Reconciliation of assets
Segment assets	9,036	9,009
Operating Segments \| Power & Energy
Reconciliation of assets
Segment assets	8,438	8,845
Operating Segments \| Financial Products Segment
Reconciliation of assets
Segment assets	41,476	36,925
Operating Segments \| All Other Segment
Reconciliation of assets
Segment assets	1,516	1,403
Corporate Items and Eliminations
Items not included in segment assets:
Cash and cash equivalents	9,333	6,165
Deferred income taxes	2,749	3,194
Goodwill and intangible assets	4,669	4,478
Property, plant and equipment – net and other assets	4,689	4,808
Inventory methodology differences	(3,622)	(3,560)
Liabilities included in segment assets	15,330	11,973
Other	$ (471)	$ (1,022)

Segment information - Reconciliations of depreciation and amortization (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2025	Sep. 30, 2025	Jun. 30, 2025	Mar. 31, 2025	Dec. 31, 2024	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2025	Dec. 31, 2024
Reconciliation of Depreciation and amortization:
Depreciation and amortization	$ 598	$ 570	$ 554	$ 540	$ 555	$ 543	$ 531	$ 524	$ 2,262	$ 2,153
Operating Segments
Reconciliation of Depreciation and amortization:
Depreciation and amortization	503	477	464	454	458	449	440	434	1,898	1,781
Operating Segments \| Construction Industries
Reconciliation of Depreciation and amortization:
Depreciation and amortization	70	67	66	63	60	60	57	56	266	233
Operating Segments \| Resource Industries
Reconciliation of Depreciation and amortization:
Depreciation and amortization	99	100	99	97	99	95	94	93	395	381
Operating Segments \| Power & Energy
Reconciliation of Depreciation and amortization:
Depreciation and amortization	149	132	121	116	113	110	104	100	518	427
Operating Segments \| Financial Products Segment
Reconciliation of Depreciation and amortization:
Depreciation and amortization	185	178	178	178	186	184	185	185	719	740
Operating Segments \| All Other Segment
Reconciliation of Depreciation and amortization:
Depreciation and amortization	70	68	66	63	76	71	70	67	267	284
Corporate Items and Eliminations
Items not included in segment depreciation and amortization:
Cost centers	28	26	25	24	23	25	24	23	103	95
Other	$ (3)	$ (1)	$ (1)	$ (1)	$ (2)	$ (2)	$ (3)	$ 0	$ (6)	$ (7)

Segment information - Reconciliations of capital expenditures (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2025	Sep. 30, 2025	Jun. 30, 2025	Mar. 31, 2025	Dec. 31, 2024	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2025	Dec. 31, 2024
Capital expenditures from reportable segments:
Capital expenditures	$ 1,342	$ 1,071	$ 955	$ 918	$ 1,037	$ 723	$ 719	$ 736	$ 4,286	$ 3,215
Operating Segments
Capital expenditures from reportable segments:
Capital expenditures	1,357	975	928	566	1,121	677	676	441	3,826	2,915
Operating Segments \| Construction Industries
Capital expenditures from reportable segments:
Capital expenditures	162	86	64	46	144	66	55	58	358	323
Operating Segments \| Resource Industries
Capital expenditures from reportable segments:
Capital expenditures	243	162	111	110	210	90	115	45	626	460
Operating Segments \| Power & Energy
Capital expenditures from reportable segments:
Capital expenditures	519	368	374	240	500	257	186	104	1,501	1,047
Operating Segments \| Financial Products Segment
Capital expenditures from reportable segments:
Capital expenditures	433	359	379	170	267	264	320	234	1,341	1,085
Operating Segments \| All Other Segment
Capital expenditures from reportable segments:
Capital expenditures	87	72	59	36	111	73	65	36	254	285
Corporate Items and Eliminations
Items not included in segment capital expenditures:
Cost centers	(2)	38	35	27	79	60	24	30	98	193
Timing	(197)	(6)	(70)	295	(286)	(71)	(37)	245	22	(149)
Other	$ 97	$ (8)	$ 3	$ (6)	$ 12	$ (16)	$ (9)	$ (16)	$ 86	$ (29)