CATERPILLAR INC

For the period ended Dec 31, 2025. Filed Feb 13, 2026.

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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2025 · Filed Feb 13, 2026

CAT$584.57-2.4%Stored close · as of Nov 10, 2026

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Contents

Page
Part I	Item 1.	Business	1
	Item 1A.	Risk Factors	9
	Item 1B.	Unresolved Staff Comments	19
	Item 1C.	Cybersecurity	19
	Item 1D.	Information about our Executive Officers	22
	Item 2.	Properties	23
	Item 3.	Legal Proceedings	25
	Item 4.	Mine Safety Disclosures	25
Part II	Item 5.	Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities	25
	Item 6.	[Reserved]	27
	Item 7.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	28
	Item 7A.	Quantitative and Qualitative Disclosures About Market Risk	54
	Item 8.	Financial Statements and Supplementary Data	55
	Item 9.	Changes in and Disagreements with Accountants on Accounting and Financial Disclosure	124
	Item 9A.	Controls and Procedures	124
	Item 9B.	Other Information	124
	Item 9C.	Disclosure Regarding Foreign Jurisdictions that Prevent Inspections	124
Part III	Item 10.	Directors, Executive Officers and Corporate Governance	125
	Item 11.	Executive Compensation	125
	Item 12.	Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters	126
	Item 13.	Certain Relationships and Related Transactions, and Director Independence	126
	Item 14.	Principal Accountant Fees and Services	126
Part IV	Item 15.	Exhibits and Financial Statement Schedules	127

ContentsView on SEC.gov

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About this filing

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