CAT · 8-K · 20260804PR000040
Working Capital Changes
CATERPILLAR INC · 2026-08-04 · Importance 31 · Surprise 6 · From source text
For the six months ended June 30, 2025, Caterpillar’s Machinery, Power & Energy operations used $1.639 billion of cash through an increase in inventories. Customer advances provided $1.276 billion of cash, indicating substantial customer prepayments or advances associated with equipment orders. The filing does not identify specific products, customer types, geographies, inventory categories, or lead-time changes underlying these movements.
Key facts
- Inventories at June 30, 2026: $20,627 million, compared with $18,135 million at December 31, 2025. source
- Change in inventories for the six months ended June 30, 2025: $(1,639) million consolidated; $(1,639) million Machinery, Power & Energy; $— Financial Products. source
- Change in customer advances for the six months ended June 30, 2025: $1,276 million consolidated; $1,276 million Machinery, Power & Energy; $— Financial Products. source
- Change in accounts payable for the six months ended June 30, 2025: $973 million consolidated; $930 million Machinery, Power & Energy; $6 million Financial Products; $37 million Consolidating Adjustments; $1 (footnote). source
- Change in accrued wages, salaries and employee benefits for the six months ended June 30, 2025: $(805) million consolidated; $(786) million Machinery, Power & Energy; $(19) million Financial Products. source
- Change in other liabilities – net for the six months ended June 30, 2025: $(537) million consolidated; $(621) million Machinery, Power & Energy; $128 million Financial Products; $(44) million Consolidating Adjustments; $1 (footnote). source
- Change in receivables – trade and other for the six months ended June 30, 2025: $(319) million consolidated; $90 million Machinery, Power & Energy; $5 million Financial Products; $(414) million Consolidating Adjustments; $1,2 (footnote indicators present). source
- Change in accrued expenses for the six months ended June 30, 2025: $(12) million consolidated; $(64) million Machinery, Power & Energy; $52 million Financial Products; $— Consolidating Adjustments. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| assets | positive | realized | — | Inventories at June 30, 2026: $20,627 million, compared with $18,135 million at December 31, 2025. |