CAT · 10-Q · 2026Q2 · Full report

Liquidity and Debt Position

CATERPILLAR INC · 2026-08-05 · Importance 52 · Surprise 56 · In source text

Caterpillar ended the second quarter of 2026 with $6.713 billion of cash, down $3.267 billion from year-end 2025, plus $1.517 billion of highly liquid MP&E debt securities and bank time deposits. Consolidated operating cash flow was $6.241 billion in the first six months of 2026, an increase of $1.830 billion year over year, primarily from higher pretax profit adjusted for non-cash items. Total available credit was $10.014 billion at June 30, 2026, including $3.774 billion for MP&E and $6.240 billion for Financial Products, with no borrowings under the $11.500 billion global credit facilities. Caterpillar’s consolidated net worth was $19.463 billion versus a $9.000 billion covenant requirement, while Cat Financial’s interest coverage ratio was 1.54x versus a 1.15x minimum and leverage ratio was 7.96x versus a 10x maximum.

Key facts

• As of June 30, 2026, we had three global credit facilities totaling $11.500 billion available in the aggregate to both Caterpillar and Cat Financial for general liquidity purposes. source
• At June 30, 2026, Caterpillar’s consolidated net worth was $19.463 billion, which was above the $9.000 billion required covenant in the Credit Facility. source
• Our total credit lines available consolidated were $15,750 million as of June 30, 2026. source
• At June 30, 2026 consolidated available credit after commercial paper and utilized credit was $10,014 million. source
• The 364-day facility is $3.500 billion (of which $875 million is available to MP&E) and expires in August 2026. source
• The three-year facility, as amended in August 2025, is $3.000 billion (of which $750 million is available to MP&E) and expires in August 2028. source
• The five-year facility, as amended in August 2025, is $5.000 billion (of which $1.250 billion is available to MP&E) and expires in August 2030. source
• Caterpillar ended the second quarter of 2026 with $6.7 billion of enterprise cash. source

Impact estimates