Caterpillar (CAT) 10-K16 Feb 222021 FY Annual reportFinancial data

Company Profile

Cover Page

Cover Page - USD ($) $ in Billions	12 Months Ended
Cover Page - USD ($) $ in Billions	Dec. 31, 2021	Jun. 30, 2021
Entity Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2021
Document Transition Report	false
Entity File Number	1-768
Entity Registrant Name	CATERPILLAR INC
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	37-0602744
Entity Address, Address Line One	510 Lake Cook Road,
Entity Address, Address Line Two	Suite 100,
Entity Address, City or Town	Deerfield,
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60015
City Area Code	224
Local Phone Number	551-4000
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float		$ 118.1
Entity Common Stock, Shares Outstanding	535,888,051
Entity Central Index Key	0000018230
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
ICFR Auditor Attestation Flag	true
Documents Incorporated by Reference	Documents Incorporated by Reference Portions of the documents listed below have been incorporated by reference into the indicated parts of this Form 10-K, as specified in the responses to the item numbers involved. Part III 2022 Annual Meeting Proxy Statement (Proxy Statement) to be filed with the Securities and Exchange Commission (SEC) within 120 days after the end of the fiscal year.
Common Stock ($1.00 par value)
Entity Information [Line Items]
Title of 12(b) Security	Common Stock ($1.00 par value)
Trading Symbol	CAT
Security Exchange Name	NYSE
8% Debentures due February 15, 2023
Entity Information [Line Items]
Title of 12(b) Security	8% Debentures due February 15, 2023
Trading Symbol	CAT23
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

Audit Information

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2021
Audit Information [Abstract]
Auditor Name	PricewaterhouseCoopers LLP
Auditor Firm ID	238
Auditor Location	Chicago, Illinois

Consolidated Results of Operati

Consolidated Results of Operations - USD ($) shares in Millions, $ in Millions		12 Months Ended
		Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Sales and revenues:
Sales and revenues		$ 50,971	$ 41,748	$ 53,800
Operating costs:
Cost of goods sold		35,513	29,082	36,630
Selling, general and administrative expenses		5,365	4,642	5,162
Research and development expenses		1,686	1,415	1,693
Other operating (income) expenses		1,074	1,467	1,271
Total operating costs		44,093	37,195	45,510
Operating profit		6,878	4,553	8,290
Other income (expense)		1,814	(44)	(57)
Consolidated profit before tax		8,204	3,995	7,812
Provision (benefit) for income taxes		1,742	1,006	1,746
Profit (loss) of consolidated companies		6,462	2,989	6,066
Equity in profit (loss) of unconsolidated affiliated companies		31	14	28
Profit (loss) of consolidated and affiliated companies		6,493	3,003	6,094
Less: comprehensive income attributable to the noncontrolling interests		4	5	1
Profit (loss)	[1]	$ 6,489	$ 2,998	$ 6,093
Profit (loss) per common share (in dollars per share)		$ 11.93	$ 5.51	$ 10.85
Profit (loss) per common share - diluted (in dollars per share)	[2]	$ 11.83	$ 5.46	$ 10.74
Weighted-average common shares outstanding (millions)
Basic (in shares)		544	544.1	561.6
Diluted (in shares)	[2]	548.5	548.6	567.5
Machinery, Energy & Transportation
Sales and revenues:
Sales and revenues		$ 48,188	$ 39,022	$ 50,755
Financial Products
Sales and revenues:
Sales and revenues		2,783	2,726	3,045
Operating costs:
Interest Expense of Financial Products		455	589	754
All other excluding Financial Products
Operating costs:
Interest Expense excluding Financial Products		$ 488	$ 514	$ 421

[1]	Profit attributable to common shareholders.
[2]	Diluted by assumed exercise of stock-based compensation awards using the treasury stock method.

Consolidated Comprehensive Inco

Consolidated Comprehensive Income - USD ($) $ in Millions	12 Months Ended
Consolidated Comprehensive Income - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement of Comprehensive Income [Abstract]
Profit (loss) of consolidated and affiliated companies	$ 6,493	$ 3,003	$ 6,094
Foreign currency translation	(598)	577	16
Pension and other post retirement benefits	(30)	(29)	(34)
Derivative financial instruments	(3)	97	(8)
Available-for-sale securities	(34)	34	35
Total other comprehensive income (loss), net of tax	(665)	679	9
Comprehensive income (loss)	5,828	3,682	6,103
Less: comprehensive income attributable to the noncontrolling interests	4	5	1
Comprehensive income (loss) attributable to shareholders	$ 5,824	$ 3,677	$ 6,102

Consolidated Financial Position

Consolidated Financial Position - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 9,254	$ 9,352
Receivables - trade and other	8,477	7,317
Receivables - finance	8,898	9,463
Prepaid Expense and Other Assets, Current	2,788	1,930
Inventories	14,038	11,402
Total current assets	43,455	39,464
Property, Plant and Equipment, Net	12,090	12,401
Long-term receivables - trade and other	1,204	1,185
Long-term receivables - finance	12,707	12,222
Noncurrent deferred and refundable income taxes	1,840	1,523
Intangible assets	1,042	1,308
Goodwill	6,324	6,394
Other assets	4,131	3,827
Segment assets	82,793	78,324
Short-term borrowings:
Short-term borrowings	5,404	2,015
Accounts payable	8,154	6,128
Accrued expenses	3,757	3,642
Accrued wages, salaries and employee benefits	2,242	1,096
Customer advances	1,087	1,108
Dividends payable	595	562
Other current liabilities	2,256	2,017
Long-term debt due within one year:
Total current liabilities	29,847	25,717
Long-term debt due after one year:
Liability for postemployment benefits	5,592	6,872
Other liabilities	4,805	4,358
SPC liabilities in consolidated statement	66,277	62,946
Shareholders' equity
Authorized shares: 2,000,000,000 Issued shares: (2021 and 2020 – 814,894,624 shares) at paid-in amount	6,398	6,230
Treasury stock: (2021 - 279,006,573 shares; and 2020 - 269,590,777 shares) at cost	(27,643)	(25,178)
Profit employed in the business	39,282	35,167
Accumulated other comprehensive income (loss)	(1,553)	(888)
Noncontrolling interests	32	47
Total stockholders' equity	16,516	15,378
Total liabilities and stockholders' equity	$ 82,793	$ 78,324
Common Stock, par value (in dollars per share)	$ 1
Common Stock, Authorized shares	2,000,000,000	2,000,000,000
Common Stock, Issued shares	814,894,624	814,894,624
Treasury Stock, shares	279,006,573	269,590,777
Machinery, Energy & Transportation
Short-term borrowings:
Short-term borrowings	$ 9	$ 10
Long-term debt due within one year:
Long-term Debt and Lease Obligation, Current	45	1,420
Long-term debt due after one year:
Long-term Debt and Lease Obligation	9,746	9,749
Financial Products
Short-term borrowings:
Short-term borrowings	5,395	2,005
Long-term debt due within one year:
Long-term Debt and Lease Obligation, Current	6,307	7,729
Long-term debt due after one year:
Long-term Debt and Lease Obligation	$ 16,287	$ 16,250

Changes in Consolidated Shareho

Changes in Consolidated Shareholders' Equity - USD ($) $ in Millions		Total	Cumulative Effect, Period of Adoption, Adjustment [Member]	Cumulative Effect, Period of Adoption, Adjusted Balance	Common Stock	Common StockCumulative Effect, Period of Adoption, Adjustment [Member]	Common StockCumulative Effect, Period of Adoption, Adjusted Balance	Treasury stock	Treasury stockCumulative Effect, Period of Adoption, Adjustment [Member]	Treasury stockCumulative Effect, Period of Adoption, Adjusted Balance	Profit employed in the business	Profit employed in the businessCumulative Effect, Period of Adoption, Adjustment [Member]	Profit employed in the businessCumulative Effect, Period of Adoption, Adjusted Balance	Accumulated other comprehensive income (loss)	Accumulated other comprehensive income (loss)Cumulative Effect, Period of Adoption, Adjustment [Member]	Accumulated other comprehensive income (loss)Cumulative Effect, Period of Adoption, Adjusted Balance	Noncontrolling interests	Noncontrolling interestsCumulative Effect, Period of Adoption, Adjustment [Member]	Noncontrolling interestsCumulative Effect, Period of Adoption, Adjusted Balance
Dividends per share declared		$ 3.95
Balance at Dec. 31, 2018		$ 14,080		$ 14,315	$ 5,827		$ 5,827	$ (20,531)		$ (20,531)	$ 30,427		$ 30,554	$ (1,684)		$ (1,576)	$ 41		$ 41
Balance (Lease accounting) at Dec. 31, 2018			$ 235			$ 0			$ 0			$ 235			$ 0			$ 0
Balance (Reclassification of certain tax effects from accumulated other comprehensive income) at Dec. 31, 2018			0			0			0			(108)			108			0
Increase (Decrease) in Stockholders' Equity
Profit (loss) of consolidated and affiliated companies		6,094			0			0			6,093			0			1
Foreign currency translation		16			0			0			0			16			0
Pension and other post retirement benefits		(34)			0			0			0			(34)			0
Derivative financial instruments, net of tax		(8)			0			0			0			(8)			0
Available-for-sale securities		35			0			0			0			35			0
Dividends declared		(2,210)			0			0			(2,210)			0			0
Distribution to noncontrolling interests		(3)			0			0			0			0			(3)
Common shares issued from treasury stock for stock-based compensation		238			(4)			242			0			0			0
Stock-based compensation expense		205			205			0			0			0			0
Common shares repurchased		(3,928)			0			(3,928)			0			0			0
Other		(91)			93			0			0			0			(2)
Balance at Dec. 31, 2019		$ 14,629		14,604	5,935		5,935	(24,217)		(24,217)	34,437		34,412	(1,567)		(1,567)	41		41
Balance (Credit losses) at Dec. 31, 2019			$ (25)			$ 0			$ 0			$ (25)			$ 0			$ 0
Increase (Decrease) in Stockholders' Equity
Common shares issued from treasury stock for stock-based compensation (in shares)		5,126,379
Common shares repurchased (in shares)		30,586,507
Dividends per share declared		$ 4.12
Profit (loss) of consolidated and affiliated companies		$ 3,003			0			0			2,998			0			5
Foreign currency translation		577			0			0			0			577			0
Pension and other post retirement benefits		(29)			0			0			0			(29)			0
Derivative financial instruments, net of tax		97			0			0			0			97			0
Available-for-sale securities		34			0			0			0			34			0
Dividends declared		(2,247)			0			0			(2,247)			0			0
Common shares issued from treasury stock for stock-based compensation		229			(61)			290			0			0			0
Stock-based compensation expense		202			202			0			0			0			0
Common shares repurchased		(1,250)			0			(1,250)			0			0			0
Other		158			(154)			1			(4)			0			(1)
Balance at Dec. 31, 2020		$ 15,378		$ 15,378	6,230		$ 6,230	(25,178)		$ (25,178)	35,167		$ 35,167	(888)		$ (888)	47		$ 47
Increase (Decrease) in Stockholders' Equity
Common shares issued from treasury stock for stock-based compensation (in shares)		5,317,243
Common shares repurchased (in shares)		10,096,006
Dividends per share declared		$ 4.36
Profit (loss) of consolidated and affiliated companies		$ 6,493			0			0			6,489			0			4
Foreign currency translation		(598)			0			0			0			(598)			0
Pension and other post retirement benefits		(30)			0			0			0			(30)			0
Derivative financial instruments, net of tax		(3)			0			0			0			(3)			0
Available-for-sale securities		(34)			0			0			0			(34)			0
Dividends declared	[1]	(2,374)			0			0			(2,374)			0			0
Distribution to noncontrolling interests		(4)			0			0			0			0			(4)
Common shares issued from treasury stock for stock-based compensation		135			(68)			203			0			0			0
Stock-based compensation expense		200			200			0			0			0			0
Common shares repurchased	[2]	(2,668)			0			(2,668)			0			0			0
Other		(35)			36			0			0			0			(1)
Balance at Dec. 31, 2021		$ 16,516			6,398			(27,643)			39,282			(1,553)			32
Increase (Decrease) in Stockholders' Equity
Common shares issued from treasury stock for stock-based compensation (in shares)		3,571,503
Common shares repurchased (in shares)		12,987,299
Noncontrolling Interest, Period Increase (Decrease)		$ (14)			$ 0			$ 0			$ 0			$ 0			$ (14)

[1]	Dividends per share of common stock of $4.36, $4.12 and $3.95 were declared in the years ended December 31, 2021, 2020 and 2019, respectively.
[2]	See Note 16 regarding shares repurchased.

Consolidated Statement of Cash

Consolidated Statement of Cash Flow - USD ($) $ in Millions	12 Months Ended
Consolidated Statement of Cash Flow - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash flow from operating activities:
Profit (loss) of consolidated and affiliated companies	$ 6,493	$ 3,003	$ 6,094
Adjustments for non-cash items:
Depreciation and amortization	2,352	2,432	2,577
Actuarial (gain) loss on pension and postretirement benefits	(833)	383	468
Provision (benefit) for deferred income taxes	(383)	(74)	28
Other	216	1,000	675
Changes in assets and liabilities, net of acquisitions and divestitures:
Receivables - trade and other	(1,259)	1,442	171
Inventories	(2,586)	(34)	274
Accounts payable	2,041	98	(1,025)
Accrued expenses	196	(366)	172
Accrued wages, salaries and employee benefits	1,107	(544)	(757)
Customer advances	34	(126)	(10)
Other assets - net	(97)	(201)	(93)
Other liabilities - net	(83)	(686)	(1,662)
Net Cash Provided by (Used in) Operating Activities	7,198	6,327	6,912
Cash flow from investing activities:
Capital expenditures - excluding equipment leased to others	(1,093)	(978)	(1,056)
Expenditures for equipment leased to others	(1,379)	(1,137)	(1,613)
Proceeds from disposals of leased assets and property, plant and equipment	1,265	772	1,153
Additions to finance receivables	(13,002)	(12,385)	(12,777)
Collections of finance receivables	12,430	12,646	12,183
Proceeds from sale of finance receivables	51	42	235
Investments and acquisitions (net of cash acquired)	(490)	(111)	(47)
Proceeds from sale of businesses and investments (net of cash sold)	36	25	41
Proceeds from sale of securities	785	345	529
Investments in securities	(1,766)	(638)	(552)
Other - net	79	(66)	(24)
Net Cash Provided by (Used in) Investing Activities	(3,084)	(1,485)	(1,928)
Cash flow from financing activities:
Dividends paid	(2,332)	(2,243)	(2,132)
Common stock issued, including treasury shares reissued	135	229	238
Common shares repurchased	(2,668)	(1,130)	(4,047)
Short-term borrowings - net (original maturities three months or less)	3,488	(2,804)	(138)
Other - net	(4)	(1)	(3)
Net Cash Provided by (Used in) Financing Activities	(4,188)	(3,755)	(4,538)
Effect of exchange rate changes on cash	(29)	(13)	(44)
Increase (decrease) in cash, cash equivalents and restricted cash	(103)	1,074	402
Cash, cash equivalents and restricted cash at beginning of period	9,366	8,292	7,890
Cash, cash equivalents and restricted cash at end of period	9,263	9,366	8,292
Machinery, Energy & Transportation
Cash flow from financing activities:
Proceeds from Debt, Maturing in More than Three Months	494	1,991	1,479
Repayments of Debt, Maturing in More than Three Months	(1,919)	(26)	(12)
Financial Products
Cash flow from financing activities:
Proceeds from Debt, Maturing in More than Three Months	6,495	8,440	8,362
Repayments of Debt, Maturing in More than Three Months	$ (7,877)	$ (8,211)	$ (8,285)

Operations and summary of signi

Operations and summary of significant accounting policies	12 Months Ended
Operations and summary of significant accounting policies	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Operations and summary of significant accounting policies	Operations and summary of significant accounting policiesA. Nature of operations Information in our financial statements and related commentary are presented in the following categories: Machinery, Energy & Transportation (ME&T) – We define ME&T as Caterpillar Inc. and its subsidiaries, excluding Financial Products. ME&T's information relates to the design, manufacturing and marketing of our products. Financial Products – We define Financial Products as our finance and insurance subsidiaries, primarily Caterpillar Financial Services Corporation (Cat Financial) and Caterpillar Insurance Holdings Inc. (Insurance Services). Financial Products’ information relates to the financing to customers and dealers for the purchase and lease of Caterpillar and other equipment. We sell our products primarily under the brands “Caterpillar,” “CAT,” design versions of “CAT” and “Caterpillar,” “EMD,” “FG Wilson,” “MaK,” “MWM,” “Perkins,” “Progress Rail,” “SEM” and “Solar Turbines.” We conduct operations in our ME&T line of business under highly competitive conditions, including intense price competition. We place great emphasis on the high quality and performance of our products and our dealers’ service support. Although no one competitor is believed to produce all of the same types of equipment that we do, there are numerous companies, large and small, which compete with us in the sale of each of our products. We distribute our machines principally through a worldwide organization of dealers (dealer network), 44 located in the United States and 116 located outside the United States, serving 193 countries. We sell reciprocating engines principally through the dealer network and to other manufacturers for use in products. We also sell some of the reciprocating engines manufactured by our subsidiary Perkins Engines Company Limited through its worldwide network of 90 distributors covering 171 countries. We sell the FG Wilson branded electric power generation systems through its worldwide network of 110 distributors covering 109 countries. We also sell some of the large, medium speed reciprocating engines under the MaK brand through a worldwide network of 20 distributors covering 130 countries. Our dealers do not deal exclusively with our products; however, in most cases sales and servicing of our products are the dealers’ principal business. We sell some products, primarily turbines and locomotives, to end customers through sales forces employed by the company. At times, these employees are assisted by independent sales representatives. The Financial Products line of business also conducts operations under highly competitive conditions. Financing for users of Caterpillar products is available through a variety of competitive sources, principally commercial banks and finance and leasing companies. We offer various financing, insurance and risk management products designed to support sales of our products and generate financing income for our company. We conduct a significant portion of Financial Products activity in North America, with additional offices in Latin America, Asia/Pacific, Europe, Africa and the Middle East. B. Basis of presentation The consolidated financial statements include the accounts of Caterpillar Inc. and its subsidiaries where we have a controlling financial interest. Investments in companies where our ownership exceeds 20 percent and we do not have a controlling interest or where the ownership is less than 20 percent and for which we have a significant influence are accounted for by the equity method. We consolidate all variable interest entities (VIEs) where Caterpillar Inc. is the primary beneficiary. For VIEs, we assess whether we are the primary beneficiary as prescribed by the accounting guidance on the consolidation of VIEs. The primary beneficiary of a VIE is the party that has both the power to direct the activities that most significantly impact the entity’s economic performance and the obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE. See Note 21 for further discussion on a consolidated VIE. Cat Financial has end-user customers that are VIEs of which we are not the primary beneficiary. Although we have provided financial support to these entities and therefore have a variable interest, we do not have the power to direct the activities that most significantly impact their economic performance. Our maximum exposure to loss from our involvement with these VIEs is limited to the credit risk inherently present in the financial support that we have provided. These risks were evaluated and reflected in our financial statements as part of our overall portfolio of finance receivables and related allowance for credit losses. We include shipping and handling costs in Cost of goods sold in Statement 1. Other operating (income) expenses primarily include Cat Financial’s depreciation on equipment leased to others, Insurance Services’ underwriting expenses, (gains) losses on disposal of long-lived assets, long-lived asset impairment charges, legal settlements and accruals, contract termination costs and employee separation charges. Prepaid expenses and other current assets in Statement 3 primarily include time deposits, prepaid insurance, contract assets, right of return assets, prepaid and refundable income taxes, assets held for sale, core to be returned for remanufacturing, restricted cash and other short-term investments. C. Inventories We state inventories at the lower of cost or net realizable value. We principally determine cost using the last-in, first-out (LIFO) method. The value of inventories on the LIFO basis represented about 60 percent of total inventories at December 31, 2021 and 2020. If the FIFO (first-in, first-out) method had been in use, inventories would have been $2,599 million and $2,132 million higher than reported at December 31, 2021 and 2020, respectively. D. Depreciation and amortization We compute depreciation of plant and equipment principally using accelerated methods. We compute depreciation on equipment leased to others, primarily for Financial Products, using the straight-line method over the term of the lease. The depreciable basis is the original cost of the equipment less the estimated residual value of the equipment at the end of the lease term. In 2021, 2020 and 2019, Cat Financial depreciation on equipment leased to others was $755 million, $758 million and $813 million, respectively, which we include in Other operating (income) expenses in Statement 1. In 2021, 2020 and 2019, consolidated depreciation expense was $2,050 million, $2,122 million and $2,253 million, respectively. We compute amortization of purchased finite-lived intangibles principally using the straight-line method, generally not to exceed a period of 20 years. E. Foreign currency translation The functional currency for most of our ME&T consolidated subsidiaries is the U.S. dollar. The functional currency for most of our Financial Products consolidated subsidiaries is the respective local currency. We include gains and losses resulting from the remeasurement of foreign currency amounts to the functional currency in Other income (expense) in Statement 1. We include gains and losses resulting from translating assets and liabilities from the functional currency to U.S. dollars in Accumulated other comprehensive income (loss) (AOCI) in Statement 3. F. Derivative financial instruments Our earnings and cash flow are subject to fluctuations due to changes in foreign currency exchange rates, interest rates and commodity prices. Our Risk Management Policy (policy) allows for the use of derivative financial instruments to prudently manage foreign currency exchange rate, interest rate and commodity price exposures. Our policy specifies that derivatives are not to be used for speculative purposes. Derivatives that we use are primarily foreign currency forward, option and cross currency contracts, interest rate contracts and commodity forward and option contracts. All derivatives are recorded at fair value. See Note 4 for more information. G. Income taxes We determine the provision for income taxes using the asset and liability approach taking into account guidance related to uncertain tax positions. Tax laws require items to be included in tax filings at different times than the items are reflected in the financial statements. We recognize a current liability for the estimated taxes payable for the current year. Deferred taxes represent the future tax consequences expected to occur when the reported amounts of assets and liabilities are recovered or paid. We adjust deferred taxes for enacted changes in tax rates and tax laws. We record valuation allowances to reduce deferred tax assets when it is more likely than not that a tax benefit will not be realized. See Note 6 for further discussion. H. Goodwill For acquisitions accounted for as a business combination, goodwill represents the excess of the cost over the fair value of the net assets acquired. We are required to test goodwill for impairment, at the reporting unit level, annually and when events or circumstances make it more likely than not that an impairment may have occurred. A reporting unit is an operating segment or one level below an operating segment (referred to as a component) to which goodwill is assigned when initially recorded. We assign goodwill to reporting units based on our integration plans and the expected synergies resulting from the acquisition. Because Caterpillar is a highly integrated company, the businesses we acquire are sometimes combined with or integrated into existing reporting units. When changes occur in the composition of our operating segments or reporting units, we reassign goodwill to the affected reporting units based on their relative fair values. We perform our annual goodwill impairment test as of October 1 and monitor for interim triggering events on an ongoing basis. We review goodwill for impairment utilizing either a qualitative assessment or a quantitative goodwill impairment test. If we choose to perform a qualitative assessment and determine the fair value more likely than not exceeds the carrying value, no further evaluation is necessary. For reporting units where we perform the quantitative goodwill impairment test, we compare the fair value of each reporting unit, which we primarily determine using an income approach based on the present value of discounted cash flows, to the respective carrying value, which includes goodwill. If the fair value of the reporting unit exceeds its carrying value, we do not consider the goodwill impaired. If the carrying value is higher than the fair value, we would recognize the difference as an impairment loss. See Note 10 for further details. I. Estimates in financial statements The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect reported amounts. The more significant estimates include: residual values for leased assets; fair values for goodwill impairment tests; warranty liability and reserves for product liability and insurance losses, postretirement benefits, post-sale discounts, credit losses and income taxes. J. New accounting guidance A. Adoption of new accounting standards Reference rate reform (Accounting Standards Update (ASU) 2020-04) – In March 2020, the Financial Accounting Standards Board (FASB) issued accounting guidance to ease the potential burden in accounting for reference rate reform related activities that impact debt, leases, derivatives and other contracts. The guidance is optional and may be elected over time as reference rate reform activities occur between March 12, 2020 through December 31, 2022. In January 2021, we elected to adopt optional expedients impacting our derivative instruments. In addition, in October 2021, we elected to adopt optional expedients for contract modifications. Our adoption of the optional expedients did not have a material impact on our financial statements. We adopted the following ASUs effective January 1, 2021, none of which had a material impact on our financial statements: ASU Description 2020-01 Investments - Equity securities, equity method and joint ventures and derivatives and hedging 2020-08 Codification improvements – Receivables - Nonrefundable fees and other costs 2021-01 Reference rate reform - Scope B. Accounting standards issued but not yet adopted We consider the applicability and impact of all ASUs. We assessed ASUs not listed above and determined that they either were not applicable or were not expected to have a material impact on our financial statements.

Sales and revenue recognition S

Sales and revenue recognition Sales and revenue recognition (Notes)	12 Months Ended
	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer [Text Block]	Sales and revenue recognition A. Sales of Machinery, Energy & Transportation We recognize sales of ME&T when all the following criteria are satisfied: (i) a contract with an independently owned and operated dealer or an end user exists which has commercial substance; (ii) it is probable we will collect the amount charged to the dealer or end user; and (iii) we have completed our performance obligation whereby the dealer or end user has obtained control of the product. A contract with commercial substance exists once we receive and accept a purchase order under a dealer sales agreement, or once we enter into a contract with an end user. If collectibility is not probable, the sale is deferred and not recognized until collection is probable or payment is received. Control of our products typically transfers when title and risk of ownership of the product has transferred to the dealer or end user. Typically, where product is produced and sold in the same country, title and risk of ownership transfer when we ship the product. Products that are exported from a country for sale typically transfer title and risk of ownership at the border of the destination country. Our remanufacturing operations are primarily focused on the remanufacture of Cat engines and components and rail related products. In this business, we inspect, clean and remanufacture used engines and related components (core). In connection with the sale of our remanufactured product to dealers, we collect a deposit that is repaid if the dealer returns an acceptable core within a specified time period. Caterpillar owns and has title to the cores when they are returned from dealers. The rebuilt engine or component (the core plus any new content) is then sold as a remanufactured product to dealers and end users. We recognize revenue pursuant to the same transfer of control criteria as ME&T sales noted above. At the time of sale, we recognize the deposit in Other current liabilities in Statement 3, and we recognize the core to be returned as an asset in Prepaid expenses and other current assets in Statement 3 at the estimated replacement cost (based on historical experience with usable cores). Upon receipt of an acceptable core, we repay the deposit and relieve the liability. We then transfer the returned core asset into inventory. In the event that the deposit is forfeited (i.e., upon failure by the dealer to return an acceptable core in the specified time period), we recognize the core deposit and the cost of the core in Sales and Cost of goods sold, respectively. We provide discounts to dealers through merchandising programs. We have numerous programs that are designed to promote the sale of our products. The most common dealer programs provide a discount when the dealer sells a product to a targeted end user. Generally, we estimate the cost of these discounts for each product by model by geographic region based on historical experience and known changes in merchandising programs. We report the cost of these discounts as a reduction to the transaction price when we recognize the product sale. We accrue a corresponding post-sale discount reserve in Statement 3, which represents discounts we expect to pay on units sold. If discounts paid differ from those estimated, we report the difference as a change in the transaction price. Except for replacement parts, no right of return exists on the sale of our products. We estimate replacement part returns based on historical experience and recognize a parts return asset in Prepaid expenses and other current assets in Statement 3, which represents our right to recover replacement parts we expect will be returned. We also recognize a refund liability in Other current liabilities in Statement 3 for the refund we expect to pay for returned parts. If actual replacement part returns differ from those estimated, we recognize the difference in the estimated replacement part return asset and refund liability in Cost of goods sold and Sales, respectively. Our standard dealer invoice terms are established by marketing region. Our invoice terms for end user sales are established by the responsible business unit. Payments from dealers are due shortly after the time of sale. When we make a sale to a dealer, the dealer is responsible for payment even if the product is not sold to an end user. Dealers and end users must make payment within the established invoice terms to avoid potential interest costs. Interest at or above prevailing market rates may be charged on any past due balance, and generally our practice is to not forgive this interest. In addition, Cat Financial provides wholesale inventory financing for a dealer’s purchase of inventory. Wholesale inventory receivables have varying payment terms. We include wholesale inventory receivables in Receivables – trade and other and Long-term receivables – trade and other in Statement 3. See Note 7 for further information. We recognize trade receivables from dealers and end users in Receivables - trade and other and Long-term receivables trade and other in Statement 3. Trade receivables from dealers and end users were $7,267 million, $6,310 million and $7,648 million as of December 31, 2021, 2020 and 2019, respectively. Long-term trade receivables from dealers and end users were $624 million, $657 million and $693 million as of December 31, 2021, 2020 and 2019, respectively. We establish an allowance for credit losses for ME&T receivables when it becomes probable that we will not collect the receivable. Our allowance for credit losses is not significant. We invoice in advance of recognizing the sale of certain products. We recognize advanced customer payments as a contract liability in Customer advances and Other liabilities in Statement 3. Contract liabilities were $1,557 million, $1,526 million and $1,654 million as of December 31, 2021, 2020 and 2019, respectively. We reduce the contract liability when we recognize revenue. During 2021, we recognized $903 million of revenue that was recorded as a contract liability at the beginning of 2021. During 2020, we recognized $1,012 million of revenue that was recorded as a contract liability at the beginning of 2020. We have elected the practical expedient to not adjust the amount of revenue to be recognized under a contract with a dealer or end user for the effects of time value of money when the timing difference between receipt of payment and recognition of revenue is less than one year. As of December 31, 2021, we have entered into contracts with dealers and end users for which sales have not been recognized as we have not satisfied our performance obligations and transferred control of the products. The dollar amount of unsatisfied performance obligations for contracts with an original duration greater than one year is $6.4 billion, with about one-third of the amount expected to be completed and revenue recognized in the twelve months following December 31, 2021. We have elected the practical expedient to not disclose unsatisfied performance obligations with an original contract duration of one year or less. Contracts with an original duration of one year or less are primarily sales to dealers for machinery, engines and replacement parts. We exclude sales and other related taxes from the transaction price. We account for shipping and handling costs associated with outbound freight after control over a product has transferred as a fulfillment cost which is included in Cost of goods sold. We provide a standard manufacturer’s warranty of our products at no additional cost. At the time we recognize a sale, we record estimated future warranty costs. See Note 21 for further discussion of our product warranty liabilities. See Note 23 for further disaggregated sales and revenues information. B. Revenues of Financial Products Revenues of Financial Products are generated primarily from finance revenue on finance receivables and rental payments on operating leases. We record finance revenue over the life of the related finance receivable using the interest method, including the accretion of certain direct origination costs that are deferred. We recognize revenue from rental payments received on operating leases on a straight-line basis over the term of the lease.

Stock-based compensation

Stock-based compensation	12 Months Ended
Stock-based compensation	Dec. 31, 2021
Share-based Payment Arrangement [Abstract]
Stock-based compensation	Stock-based compensation Our stock-based compensation plans primarily provide for the granting of stock options, restricted stock units (RSUs) and performance-based restricted stock units (PRSUs) to Officers and other key employees, as well as non-employee Directors. Stock options permit a holder to buy Caterpillar stock at the stock’s price when the option was granted. RSUs are agreements to issue shares of Caterpillar stock at the time of vesting. PRSUs are similar to RSUs and include performance conditions in the vesting terms of the award. Our long-standing practices and policies specify that the Compensation Committee (the Committee) of the Board of Directors approve all stock-based compensation awards. The award approval process specifies the grant date, value and terms of the award. We consistently apply the same terms and conditions to all employee grants, including Officers. The Committee approves all individual Officer grants. We determine the number of stock-based compensation award units included in an individual’s award based on the methodology approved by the Committee. The exercise price methodology approved by the Committee is the closing price of the Company stock on the date of the grant. In June of 2014, shareholders approved the Caterpillar Inc. 2014 Long-Term Incentive Plan (the Plan) under which all new stock-based compensation awards are granted. In June of 2017, shareholders amended and restated the Plan. The Plan initially provided that up to 38,800,000 Common Shares would be reserved for future issuance under the Plan, subject to adjustment in certain events. Subsequent to the shareholder approval of the amendment and restatement of the Plan, an additional 36,000,000 Common Shares became available for all awards under the Plan. Common stock issued from Treasury stock under the plans totaled 3,571,503 for 2021, 5,317,243 for 2020 and 5,126,379 for 2019. The total number of shares authorized for equity awards under the amended and restated Caterpillar Inc. 2014 Long-Term Incentive Plan is 74,800,000, of which 33,880,674 shares remained available for issuance as of December 31, 2021. Stock option and RSU awards generally vest according to a three-year graded vesting schedule. One-third of the award will become vested on the first anniversary of the grant date, one-third of the award will become vested on the second anniversary of the grant date and one-third of the award will become vested on the third anniversary of the grant date. PRSU awards generally have a three-year performance period and cliff vest at the end of the period based upon achievement of performance targets established at the time of grant. Upon separation from service, if the participant is 55 years of age or older with more than five years of service, the participant meets the criteria for a “Long Service Separation.” Award terms for stock option and RSU grants allow for continued vesting as of each vesting date specified in the award document for employees who meet the criteria for a “Long Service Separation” and fulfill a requisite service period of six months. We recognize compensation expense for eligible employees for the grants over the period from the grant date to the end date of the six-month requisite service period. For employees who become eligible for a “Long Service Separation” subsequent to the end date of the six-month requisite service period and prior to the completion of the vesting period, we recognized compensation expense over the period from the grant date to the date eligibility is achieved. Award terms for PRSU grants allow for continued vesting upon achievement of the performance target specified in the award document for employees who meet the criteria for a “Long Service Separation” and fulfill a requisite service period of six months. We recognize compensation expense for the PRSU grants with respect to employees who have met the criteria for a “Long Service Separation” over the period from the grant date to the end of the six-month requisite service period. For employees who become eligible for a “Long Service Separation” subsequent to the end date of the six-month requisite service period and prior to the completion of the vesting period, we recognize compensation expense over the period from the grant date to the date eligibility is achieved. At grant, option awards have a term life of ten years. For awards granted prior to 2016, if the “Long Service Separation” criteria are met, the vested options have a life that is the lesser of ten years from the original grant date or five years from the separation date. For awards granted beginning in 2016, the vested options have a life equal to ten years from the original grant date. Accounting guidance on share-based payments requires companies to estimate the fair value of options on the date of grant using an option-pricing model. The fair value of our option grants was estimated using the Black-Scholes option-pricing model. The Black-Scholes option-pricing model considers a range of assumptions related to volatility, risk-free interest rate and historical employee behavior. Expected volatility was based on historical Caterpillar stock price movement and current implied volatilities from traded options on Caterpillar stock. The risk-free interest rate was based on U.S. Treasury security yields at the time of grant. The weighted-average dividend yield was based on historical information. We determine the expected life from the actual historical employee exercise behavior. The following table provides the assumptions used in determining the fair value of the Option awards for the years ended December 31, 2021, 2020 and 2019, respectively. Grant Year 2021 2020 2019 Weighted-average dividend yield 2.6 % 2.5 % 2.6 % Weighted-average volatility 32.9 % 25.7 % 29.1 % Range of volatilities 29.2%-45.8% 24.5%-29.7% 25.1%- 38.7% Range of risk-free interest rates 0.06%-1.41% 1.21%-1.39% 2.48%-2.68% Weighted-average expected lives 8 years 8 years 7 years Beginning with the 2018 grant, we credit RSU and PRSU awards with dividend equivalent units on each date that we pay a cash dividend to holders of Common stock. We determine the fair value of the RSU and PRSU awards granted in 2021, 2020 and 2019 as the closing stock price on the date of the grant. Please refer to Tables I and II below for additional information on our stock-based compensation awards. TABLE I — Financial Information Related to Stock-based Compensation Stock options RSUs PRSUs Shares Weighted- Shares Weighted- Shares Weighted- Outstanding at January 1, 2021 10,076,983 $ 109.60 1,327,950 $ 134.89 727,757 $ 132.81 Granted to officers and key employees 1,084,821 $ 219.76 472,698 $ 216.50 285,056 $ 215.45 Exercised (3,399,720) $ 103.45 — $ — — $ — Vested — $ — (665,357) $ 138.90 (356,618) $ 138.35 Forfeited / expired (39,664) $ 161.34 (35,110) $ 167.12 (10,822) $ 163.02 Outstanding at December 31, 2021 7,722,420 $ 127.52 1,100,181 $ 166.50 645,373 $ 165.74 Exercisable at December 31, 2021 4,914,111 $ 106.36 Stock options outstanding and exercisable as of December 31, 2021: Outstanding Exercisable Exercise Prices Shares Outstanding at 12/31/2021 Weighted- Weighted- Aggregate Intrinsic Value 1 Shares Outstanding at 12/31/2021 Weighted- Weighted- Aggregate Intrinsic Value 1 $74.77-$83.00 1,846,000 3.75 $ 78.65 $ 236 1,846,000 3.75 $ 78.65 $ 236 $89.75-$96.31 1,225,687 4.01 $ 95.20 137 1,225,182 4.01 $ 95.20 137 $110.09 39,909 0.17 $ 110.09 4 39,909 0.17 $ 110.09 4 $127.60-$138.35 2,675,475 7.88 $ 131.81 200 936,141 7.68 $ 134.01 68 $151.12-$219.76 1,935,349 7.93 $ 189.01 34 866,879 6.26 $ 151.12 48 7,722,420 $ 127.52 $ 611 4,914,111 $ 106.36 $ 493 1 The difference between a stock award’s exercise price and the underlying stock’s closing market price at December 31, 2021, for awards with market price greater than the exercise price. Amounts are in millions of dollars. The computations of weighted-average exercise prices and aggregate intrinsic values are not applicable to RSUs or PRSUs since these awards represent an agreement to issue shares of stock at the time of vesting. At December 31, 2021, there were 1,100,181 outstanding RSUs with a weighted average remaining contractual life of 1.4 years and 645,373 outstanding PRSUs with a weighted-average remaining contractual life of 1.4 years. TABLE II— Additional Stock-based Award Information (Dollars in millions except per share data) 2021 2020 2019 Stock options activity: Weighted-average fair value per share of stock awards granted $ 56.30 $ 25.98 $ 40.98 Intrinsic value of stock awards exercised $ 374 $ 386 $ 264 Fair value of stock awards vested 1 $ 59 $ 64 $ 100 Cash received from stock awards exercised $ 212 $ 282 $ 298 RSUs activity: Weighted-average fair value per share of stock awards granted $ 216.50 $ 128.07 $ 138.61 Fair value of stock awards vested 2 $ 136 $ 87 $ 110 PRSUs activity: Weighted-average fair value per share of stock awards granted $ 215.45 $ 128.41 $ 138.67 Fair value of stock awards vested 2 $ 74 $ 59 $ 59 1 Based on the grant date fair value. 2 Based on the underlying stock’s closing market price on the vesting date. In accordance with guidance on share-based payments, stock-based compensation expense is based on the grant date fair value and is classified within Cost of goods sold, Selling, general and administrative expenses and Research and development expenses corresponding to the same line item as the cash compensation paid to respective employees, officers and non-employee directors. We recognize stock-based compensation expense on a straight-line basis over the requisite service period for awards with terms that specify cliff or graded vesting and contain only service conditions. Stock-based compensation expense for PRSUs is based on the probable number of shares expected to vest and is recognized primarily on a straight-line basis. Before tax, stock-based compensation expense for 2021, 2020 and 2019 was $200 million, $202 million and $205 million, respectively, with a corresponding income tax benefit of $23 million, $34 million and $35 million, respectively. The amount of stock-based compensation expense capitalized for the years ended December 31, 2021, 2020 and 2019 did not have a significant impact on our financial statements. At December 31, 2021, there was $143 million of total unrecognized compensation cost from stock-based compensation arrangements granted under the plans, which is related to non-vested stock-based awards. We expect to recognize the compensation expense over a weighted-average period of approximately 1.7 years. We currently use shares in Treasury stock to satisfy share award exercises.

Derivative financial instrument

Derivative financial instruments and risk management	12 Months Ended
Derivative financial instruments and risk management	Dec. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative financial instruments and risk management	Derivative financial instruments and risk management Our earnings and cash flow are subject to fluctuations due to changes in foreign currency exchange rates, interest rates and commodity prices. Our Risk Management Policy (policy) allows for the use of derivative financial instruments to prudently manage foreign currency exchange rate, interest rate and commodity price exposures. Our policy specifies that derivatives are not to be used for speculative purposes. Derivatives that we use are primarily foreign currency forward, option and cross currency contracts, interest rate contracts and commodity forward and option contracts. Our derivative activities are subject to the management, direction and control of our senior financial officers. We present at least annually to the Audit Committee of the Board of Directors on our risk management practices, including our use of financial derivative instruments. We recognize all derivatives at their fair value in Statement 3. On the date the derivative contract is entered into, we designate the derivative as (1) a hedge of the fair value of a recognized asset or liability (fair value hedge), (2) a hedge of a forecasted transaction or the variability of cash flow (cash flow hedge) or (3) an undesignated instrument. We record in current earnings changes in the fair value of a derivative that is qualified, designated and highly effective as a fair value hedge, along with the gain or loss on the hedged recognized asset or liability that is attributable to the hedged risk. We record in AOCI changes in the fair value of a derivative that is qualified, designated and highly effective as a cash flow hedge, to the extent effective, in Statement 3 until we reclassify them to earnings in the same period or periods during which the hedged transaction affects earnings. We report changes in the fair value of undesignated derivative instruments in current earnings. We classify cash flows from designated derivative financial instruments within the same category as the item being hedged on Statement 5. We include cash flows from undesignated derivative financial instruments in the investing category on Statement 5. We formally document all relationships between hedging instruments and hedged items, as well as the risk-management objective and strategy for undertaking various hedge transactions. This process includes linking all derivatives that are designated as fair value hedges to specific assets and liabilities in Statement 3 and linking cash flow hedges to specific forecasted transactions or variability of cash flow. We also formally assess, both at the hedge’s inception and on an ongoing basis, whether the designated derivatives that are used in hedging transactions are highly effective in offsetting changes in fair values or cash flow of hedged items. When a derivative is determined not to be highly effective as a hedge or the underlying hedged transaction is no longer probable, we discontinue hedge accounting prospectively, in accordance with the derecognition criteria for hedge accounting. A. Foreign currency exchange rate risk Foreign currency exchange rate movements create a degree of risk by affecting the U.S. dollar value of sales made and costs incurred in foreign currencies. Movements in foreign currency rates also affect our competitive position as these changes may affect business practices and/or pricing strategies of non-U.S.-based competitors. Additionally, we have balance sheet positions denominated in foreign currencies, thereby creating exposure to movements in exchange rates. Our ME&T operations purchase, manufacture and sell products in many locations around the world. As we have a diversified revenue and cost base, we manage our future foreign currency cash flow exposure on a net basis. We use foreign currency forward and option contracts to manage unmatched foreign currency cash inflow and outflow. Our objective is to minimize the risk of exchange rate movements that would reduce the U.S. dollar value of our foreign currency cash flow. Our policy allows for managing anticipated foreign currency cash flow for up to approximately five years. As of December 31, 2021, the maximum term of these outstanding contracts at inception was approximately 60 months. We generally designate as cash flow hedges at inception of the contract any Australian dollar, Brazilian real, British pound, Canadian dollar, Chinese yuan, Euro, Indian rupee, Japanese yen, Mexican peso, Norwegian Krona, Singapore dollar or Thailand baht forward or option contracts that meet the requirements for hedge accounting and the maturity extends beyond the current quarter-end. We perform designation on a specific exposure basis to support hedge accounting. The remainder of ME&T foreign currency contracts are undesignated. In managing foreign currency risk for our Financial Products operations, our objective is to minimize earnings volatility resulting from conversion and the remeasurement of net foreign currency balance sheet positions and future transactions denominated in foreign currencies. Our policy allows the use of foreign currency forward, option and cross currency contracts to offset the risk of currency mismatch between our assets and liabilities and exchange rate risk associated with future transactions denominated in foreign currencies. Our foreign currency forward and option contracts are primarily undesignated. We designate fixed-to-fixed cross currency contracts as cash flow hedges to protect against movements in exchange rates on foreign currency fixed-rate assets and liabilities. B. Interest rate risk Interest rate movements create a degree of risk by affecting the amount of our interest payments and the value of our fixed-rate debt. Our practice is to use interest rate contracts to manage our exposure to interest rate changes. Our ME&T operations generally use fixed-rate debt as a source of funding. Our objective is to minimize the cost of borrowed funds. Our policy allows us to enter into fixed-to-floating interest rate contracts and forward rate agreements to meet that objective. We designate fixed-to-floating interest rate contracts as fair value hedges at inception of the contract, and we designate certain forward rate agreements as cash flow hedges at inception of the contract. Financial Products operations has a match-funding policy that addresses interest rate risk by aligning the interest rate profile (fixed or floating rate and duration) of Cat Financial’s debt portfolio with the interest rate profile of our receivables portfolio within predetermined ranges on an ongoing basis. In connection with that policy, we use interest rate derivative instruments to modify the debt structure to match assets within the receivables portfolio. This matched funding reduces the volatility of margins between interest-bearing assets and interest-bearing liabilities, regardless of which direction interest rates move. Our policy allows us to use fixed-to-floating, floating-to-fixed and floating-to-floating interest rate contracts to meet the match-funding objective. We designate fixed-to-floating interest rate contracts as fair value hedges to protect debt against changes in fair value due to changes in the benchmark interest rate. We designate most floating-to-fixed interest rate contracts as cash flow hedges to protect against the variability of cash flows due to changes in the benchmark interest rate. We have, at certain times, liquidated fixed-to-floating and floating-to-fixed interest rate contracts at both ME&T and Financial Products. We amortize the gains or losses associated with these contracts at the time of liquidation into earnings over the original term of the previously designated hedged item. C. Commodity price risk Commodity price movements create a degree of risk by affecting the price we must pay for certain raw materials. Our policy is to use commodity forward and option contracts to manage the commodity risk and reduce the cost of purchased materials. Our ME&T operations purchase base and precious metals embedded in the components we purchase from suppliers. Our suppliers pass on to us price changes in the commodity portion of the component cost. In addition, we are subject to price changes on energy products such as natural gas and diesel fuel purchased for operational use. Our objective is to minimize volatility in the price of these commodities. Our policy allows us to enter into commodity forward and option contracts to lock in the purchase price of a portion of these commodities within a five-year horizon. All such commodity forward and option contracts are undesignated. The location and fair value of derivative instruments reported in Statement 3 were as follows: Consolidated Asset (Liability) Fair Value (Millions of dollars) Years ended December 31, 2021 2020 Designated derivatives Foreign exchange contracts Machinery, Energy & Transportation Receivables — trade and other $ 58 $ 74 Machinery, Energy & Transportation Long-term receivables — trade and other 28 71 Machinery, Energy & Transportation Accrued expenses (26) (36) Machinery, Energy & Transportation Other liabilities (6) (1) Financial Products Receivables — trade and other 109 1 Financial Products Long-term receivables — trade and other 33 1 Financial Products Accrued expenses (32) (148) Interest rate contracts Machinery, Energy & Transportation Long-term receivables — trade and other — 4 Financial Products Receivables — trade and other 7 2 Financial Products Long-term receivables — trade and other 31 57 Financial Products Accrued expenses (15) (5) $ 187 $ 20 Undesignated derivatives Foreign exchange contracts Machinery, Energy & Transportation Receivables — trade and other $ 18 $ 10 Machinery, Energy & Transportation Accrued expenses (6) (1) Financial Products Receivables — trade and other 21 17 Financial Products Long-term receivables — trade and other 7 7 Financial Products Accrued expenses (36) (107) Commodity contracts Machinery, Energy & Transportation Receivables — trade and other 30 35 Machinery, Energy & Transportation Long-term receivables — trade and other — 2 Machinery, Energy & Transportation Accrued expenses (9) — $ 25 $ (37) The total notional amounts of the derivative instruments were as follows: Years ended December 31, (Millions of dollars) 2021 2020 Machinery, Energy & Transportation $ 5,085 $ 3,553 Financial Products $ 13,852 $ 11,260 The notional amounts of the derivative financial instruments do not represent amounts exchanged by the parties. We calculate the amounts exchanged by the parties by reference to the notional amounts and by other terms of the derivatives, such as foreign currency exchange rates, interest rates or commodity prices. The effect of derivatives designated as hedging instruments on Statement 1 was as follows: Cash Flow Hedges (Millions of dollars) Year ended December 31, 2021 Recognized in Earnings Amount of Classification of Amount of Gains (Losses) Reclassified from AOCI Amount of the line items in Statement 1 Foreign exchange contracts Machinery, Energy & Transportation $ (21) Sales of Machinery, Energy & Transportation $ (13) $ 48,188 Cost of goods sold 46 35,513 Financial Products 190 Interest expense of Financial Products (5) 455 Other income (expense) 199 1,814 Interest rate contracts Machinery, Energy & Transportation 7 Interest expense excluding Financial Products (3) 488 Financial Products 19 Interest expense of Financial Products (28) 455 $ 195 $ 196 Year ended December 31, 2020 Recognized in Earnings Amount of Classification of Amount of Gains (Losses) Reclassified from AOCI Amount of the line items in Statement 1 Foreign exchange contracts Machinery, Energy & Transportation $ 48 Sales of Machinery, Energy & Transportation $ 2 $ 39,022 Cost of goods sold (55) 29,082 Financial Products (130) Interest expense of Financial Products 32 589 Other income (expense) (164) (44) Interest rate contracts Machinery, Energy & Transportation (11) Interest expense excluding Financial Products (4) 514 Financial Products (23) Interest expense of Financial Products (52) 589 $ (116) $ (241) Year ended December 31, 2019 Recognized in Earnings Amount of Classification of Amount of Gains (Losses) Reclassified from AOCI Amount of the line items in Statement 1 Foreign exchange contracts Machinery, Energy & Transportation $ 34 Sales of Machinery, Energy & Transportation $ 11 $ 50,755 Cost of goods sold (3) 36,630 Financial Products 93 Interest expense of Financial Products 33 754 Other income (expense) 37 (57) Interest rate contracts Machinery, Energy & Transportation — Interest expense excluding Financial Products (4) 421 Financial Products (70) Interest expense of Financial Products (8) 754 $ 57 $ 66 The effect of derivatives not designated as hedging instruments on Statement 1 was as follows: Years ended December 31, (Millions of dollars) Classification of Gains (Losses) 2021 2020 2019 Foreign exchange contracts Machinery, Energy & Transportation Other income (expense) $ 15 $ 38 $ 13 Financial Products Other income (expense) 89 (112) (37) Commodity contracts Machinery, Energy & Transportation Other income (expense) 56 11 18 $ 160 $ (63) $ (6) We enter into International Swaps and Derivatives Association (ISDA) master netting agreements within ME&T and Financial Products that permit the net settlement of amounts owed under their respective derivative contracts. Under these master netting agreements, net settlement generally permits the company or the counterparty to determine the net amount payable for contracts due on the same date and in the same currency for similar types of derivative transactions. The master netting agreements generally also provide for net settlement of all outstanding contracts with a counterparty in the case of an event of default or a termination event. Collateral is generally not required of the counterparties or of our company under the master netting agreements. As of December 31, 2021 and 2020, no cash collateral was received or pledged under the master netting agreements. The effect of the net settlement provisions of the master netting agreements on our derivative balances upon an event of default or termination event was as follows: December 31, 2021 Gross Amounts Not Offset in the Statement of Financial Position (Millions of dollars) Gross Amount of Recognized Assets Gross Amounts Offset in the Statement of Financial Position Net Amount of Assets Presented in the Statement of Financial Position Financial Instruments Cash Collateral Received Net Amount of Assets Derivatives Machinery, Energy & Transportation $ 134 $ — $ 134 $ (47) $ — $ 87 Financial Products 208 — 208 (67) — 141 Total $ 342 $ — $ 342 $ (114) $ — $ 228 December 31, 2021 Gross Amounts Not Offset in the Statement of Financial Position (Millions of dollars) Gross Amount of Recognized Liabilities Gross Amounts Offset in the Statement of Financial Position Net Amount of Liabilities Presented in the Statement of Financial Position Financial Instruments Cash Collateral Pledged Net Amount of Liabilities Derivatives Machinery, Energy & Transportation $ (47) $ — $ (47) $ 47 $ — $ — Financial Products (83) — (83) 67 — (16) Total $ (130) $ — $ (130) $ 114 $ — $ (16) December 31, 2020 Gross Amounts Not Offset in the Statement of Financial Position (Millions of dollars) Gross Amount of Recognized Assets Gross Amounts Offset in the Statement of Financial Position Net Amount of Assets Presented in the Statement of Financial Position Financial Instruments Cash Collateral Received Net Amount of Assets Derivatives Machinery, Energy & Transportation $ 196 $ — $ 196 $ (38) $ — $ 158 Financial Products 85 — 85 (57) — 28 Total $ 281 $ — $ 281 $ (95) $ — $ 186 December 31, 2020 Gross Amounts Not Offset in the Statement of Financial Position (Millions of dollars) Gross Amount of Recognized Liabilities Gross Amounts Offset in the Statement of Financial Position Net Amount of Liabilities Presented in the Statement of Financial Position Financial Instruments Cash Collateral Pledged Net Amount of Liabilities Derivatives Machinery, Energy & Transportation $ (38) $ — $ (38) $ 38 $ — $ — Financial Products (260) — (260) 57 — (203) Total $ (298) $ — $ (298) $ 95 $ — $ (203)

Other income (expense)

Other income (expense)	12 Months Ended
Other income (expense)	Dec. 31, 2021
Other Income and Expenses [Abstract]
Other income (expense)	5. Other income (expense) Years ended December 31, (Millions of dollars) 2021 2020 2019 Investment and interest income $ 80 $ 112 $ 202 Foreign exchange gains (losses) 1 110 (193) (67) License fee income 123 104 121 Gains (losses) on securities 134 37 65 Net periodic pension and OPEB income (cost), excluding service cost 1,279 (90) (363) Miscellaneous income (loss) 88 (14) (15) Total $ 1,814 $ (44) $ (57) 1 Includes gains (losses) from foreign exchange derivative contracts. See Note 4 for further details.

Income taxes

Income taxes	12 Months Ended
Income taxes	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Income taxes	6. Income taxes Reconciliation of the U.S. federal statutory rate to effective rate: Years ended December 31, (Millions of dollars) 2021 2020 2019 Taxes at U.S. statutory rate $ 1,723 21.0 % $ 839 21.0 % $ 1,641 21.0 % (Decreases) increases resulting from: Non-U.S. subsidiaries taxed at other than the U.S. rate 211 2.6 % 285 7.1 % 365 4.7 % State and local taxes, net of federal 1 28 0.3 % 32 0.8 % 59 0.8 % Interest and penalties, net of tax 45 0.6 % 28 0.7 % 34 0.4 % U.S. tax incentives (123) (1.5) % (52) (1.3) % (149) (1.9) % Net excess tax benefits from stock-based compensation (63) (0.8) % (49) (1.2) % (41) (0.5) % Prior year tax adjustments (36) (0.4) % (80) (2.0) % (178) (2.3) % Other—net (43) (0.6) % 3 0.1 % 15 0.2 % Provision (benefit) for income taxes $ 1,742 21.2 % $ 1,006 25.2 % $ 1,746 22.4 % 1 Excludes amounts included in net excess tax benefits from stock-based compensation. Included in the line item above labeled “Non-U.S. subsidiaries taxed at other than the U.S. rate” are the effects of local and U.S. taxes related to earnings of non-U.S. subsidiaries, changes in the amount of unrecognized tax benefits associated with these earnings, losses at non-U.S. subsidiaries without local tax benefits due to valuation allowances and other permanent differences between tax and U.S. GAAP results. The line item above labeled "Prior year tax adjustments" includes a $36 million benefit in 2021 to reflect changes in estimates and an $80 million benefit in 2020 including the impact of regulations received. During 2019, we recorded a $178 million tax benefit to adjust previously unrecognized tax benefits as a result of receipt of additional guidance related to the calculation of the one-time mandatory deemed repatriation of non-U.S. earnings required by U.S. tax legislation enacted on December 22, 2017. Distributions of profits from non-U.S. subsidiaries are not expected to cause a significant incremental U.S. tax impact in the future. However, these distributions may be subject to non-U.S. withholding taxes if profits are distributed from certain jurisdictions. Undistributed profits of non-U.S. subsidiaries of approximately $15 billion are considered indefinitely reinvested. Determination of the amount of unrecognized deferred tax liability related to indefinitely reinvested profits is not feasible primarily due to our legal entity structure and the complexity of U.S. and local tax laws. The components of profit (loss) before taxes were: Years ended December 31, (Millions of dollars) 2021 2020 2019 U.S. $ 2,740 $ 590 $ 2,888 Non-U.S. 5,464 3,405 4,924 $ 8,204 $ 3,995 $ 7,812 Profit before taxes, as shown above, is based on the location of the entity to which such earnings are attributable. Where an entity’s earnings are subject to taxation, however, may not correlate solely to where an entity is located. Thus, the income tax provision shown below as U.S. or non-U.S. may not correspond to the earnings shown above. The components of the provision (benefit) for income taxes were: Years ended December 31, (Millions of dollars) 2021 2020 2019 Current tax provision (benefit): U.S. 1 $ 766 $ 18 $ 405 Non-U.S. 1,283 1,031 1,261 State (U.S.) 76 31 52 2,125 1,080 1,718 Deferred tax provision (benefit): U.S. 1 (387) (44) 17 Non-U.S. 54 (34) (7) State (U.S.) (50) 4 18 (383) (74) 28 Total provision (benefit) for income taxes $ 1,742 $ 1,006 $ 1,746 1 Includes U.S. taxes related to non-U.S. earnings. We account for U.S. taxes on global intangible low-taxed income as a period cost. We paid net income tax and related interest of $1,759 million, $1,311 million and $1,847 million in 2021, 2020 and 2019, respectively. Accounting for income taxes under U.S. GAAP requires that individual tax-paying entities of the company offset all deferred tax liabilities and assets within each particular tax jurisdiction and present them as a noncurrent deferred tax liability or asset in the Consolidated Financial Position. Amounts in different tax jurisdictions cannot be offset against each other. The amount of deferred income taxes at December 31, included on the following lines in Statement 3, were as follows: December 31, (Millions of dollars) 2021 2020 Assets: Noncurrent deferred and refundable income taxes $ 1,669 $ 1,358 Liabilities: Other liabilities 412 418 Deferred income taxes—net $ 1,257 $ 940 The components of deferred tax assets and liabilities were: December 31, (Millions of dollars) 2021 2020 Deferred income tax assets: Tax carryforwards $ 1,380 $ 1,346 Postemployment benefits other than pensions 848 919 Employee compensation and benefits 464 267 Research expenditures 415 193 Intercompany prepayments 280 — Warranty reserves 266 247 Lease obligations 159 154 Post sale discounts 143 153 Pension 111 396 Allowance for credit losses 106 126 Other—net 235 317 4,407 4,118 Deferred income tax liabilities: Capital and intangible assets, including lease basis differences (1,457) (1,526) Other outside basis differences (264) (284) Translation (188) (147) Bond discount (112) (117) Undistributed profits of non-U.S. subsidiaries (101) (95) (2,122) (2,169) Valuation allowance for deferred tax assets (1,028) (1,009) Deferred income taxes—net $ 1,257 $ 940 At December 31, 2021, approximately $890 million of U.S. state tax net operating losses (NOLs) and $130 million of U.S. state tax credit carryforwards were available. The state NOLs primarily expire over the next twenty years. The state tax credit carryforwards primarily expire over the next fifteen years, with some credits having an unlimited carryforward period. In total, we have established a valuation allowance of $150 million related to certain of these carryforwards. At December 31, 2021, approximately $790 million of capital losses are available to carryforward on the U.S. federal tax return. These losses have a five-year carryforward period and will expire in 2027. At December 31, 2021, approximately $90 million of U.S. foreign tax credits were available to carryforward on the U.S. federal tax return. These credits have a ten-year carryforward period and begin to expire in 2028. At December 31, 2021, amounts and expiration dates of net operating loss and interest carryforwards in various non-U.S. taxing jurisdictions were: (Millions of dollars) 2022 2023 2024 2025-2027 2028-2042 Unlimited Total $ 4 $ 3 $ 14 $ 32 $ 844 $ 3,876 $ 4,773 At December 31, 2021, non-U.S. entities that have not yet demonstrated consistent and/or sustainable profitability to support the realization of net deferred tax assets have recorded valuation allowances of $770 million, including certain entities in Luxembourg. A reconciliation of the beginning and ending amount of gross unrecognized tax benefits for uncertain tax positions, including positions impacting only the timing of tax benefits, follows. Reconciliation of unrecognized tax benefits: 1 Years ended December 31, (Millions of dollars) 2021 2020 2019 Beginning balance $ 1,759 $ 1,778 $ 1,796 Additions for tax positions related to current year 141 44 72 Additions for tax positions related to prior years 43 46 112 Reductions for tax positions related to prior years (30) (12) (201) Reductions for settlements 2 (24) (94) — Reductions for expiration of statute of limitations (3) (3) (1) Ending balance $ 1,886 $ 1,759 $ 1,778 Amount that, if recognized, would impact the effective tax rate $ 1,688 $ 1,657 $ 1,616 1 Foreign currency impacts are included within each line as applicable. 2 Includes cash payment or other reduction of assets to settle liability. We classify interest and penalties on income taxes as a component of the provision for income taxes. We recognized a net provision for interest and penalties of $54 million, $38 million and $43 million during the years ended December 31, 2021, 2020 and 2019, respectively. The total amount of interest and penalties accrued was $297 million and $264 million as of December 31, 2021 and 2020, respectively. In Revenue Agent ’ s Reports issued at the end of the field examinations of our U.S. income tax returns for 2007 to 2012 including the impact of a loss carryback to 2005, the Internal Revenue Service has proposed to tax in the United States profits earned from certain parts transactions by Caterpillar SARL (CSARL) based on the examination team’s application of the “substance-over-form” or “assignment-of-income” judicial doctrines. We are vigorously contesting the proposed increases to tax and penalties for these years of approximately $2.3 billion. We believe that the relevant transactions complied with applicable tax laws and did not violate judicial doctrines. We have filed U.S. income tax returns on this same basis for years after 2012. Based on the information currently available, we do not anticipate a significant change to our unrecognized tax benefits for this position within the next 12 months. We currently believe the ultimate disposition of this matter will not have a material adverse effect on our consolidated financial position, liquidity or results of operations. With the exception of a loss carryback to 2005, tax years prior to 2007 are generally no longer subject to U.S. tax assessment. In our major non-U.S. jurisdictions including Australia, Brazil, China, Germany, India, Japan, Mexico, Switzerland, Singapore and the U.K., tax years are typically subject to examination for three to ten years. Due to the uncertainty related to

Cat Financial Financing Activit

Cat Financial Financing Activities	12 Months Ended
Cat Financial Financing Activities	Dec. 31, 2021
Receivables [Abstract]
Cat Financial Financing Activities	Cat Financial Financing Activities Wholesale inventory receivables Wholesale inventory receivables are receivables of Cat Financial that arise when Cat Financial provides financing for a dealer’s purchase of inventory and were $1,098 million and $1,233 million, at December 31, 2021 and 2020, respectively. We include these receivables in Receivables—trade and other and Long-term receivables—trade and other in Statement 3. Contractual maturities of outstanding wholesale inventory receivables: (Millions of dollars) December 31, 2021 Amounts Due In Wholesale Wholesale Total 2022 $ 421 $ 46 $ 467 2023 237 38 275 2024 117 30 147 2025 56 22 78 2026 21 9 30 Thereafter 5 — 5 Total 857 145 1,002 Guaranteed residual value 1 68 27 95 Unguaranteed residual value 1 2 29 31 Less: Unearned income (11) (19) (30) Total $ 916 $ 182 $ 1,098 1 For Wholesale loans, represents residual value on failed sale leasebacks. Cat Financial’s wholesale inventory receivables generally may be repaid or refinanced without penalty prior to contractual maturity. Please refer to Note 18 for fair value information. Finance receivables are receivables of Cat Financial and are reported in Statement 3 net of an allowance for credit losses. Contractual maturities of outstanding finance receivables: (Millions of dollars) December 31, 2021 Amounts Due In Retail Retail Total 2022 $ 5,839 $ 3,137 $ 8,976 2023 3,892 2,070 5,962 2024 2,571 1,101 3,672 2025 1,448 510 1,958 2026 647 217 864 Thereafter 195 34 229 Total 14,592 7,069 21,661 Guaranteed residual value 1 16 386 402 Unguaranteed residual value 1 3 720 723 Less: Unearned income (304) (554) (858) Total $ 14,307 $ 7,621 $ 21,928 1 For Retail loans, represents residual value on failed sale leasebacks. Cat Financial’s finance receivables generally may be repaid or refinanced without penalty prior to contractual maturity. Please refer to Note 18 for fair value information. Portfolio segments A portfolio segment is the level at which Cat Financial develops a systematic methodology for determining its allowance for credit losses. Cat Financial's portfolio segments and related methods for estimating expected credit losses are as follows: Customer Cat Financial provides loans and finance leases to end-user customers primarily for the purpose of financing new and used Caterpillar machinery, engines and equipment for commercial use, the majority of which operate in construction-related industries. Cat Financial also provides financing for vehicles, power generation facilities and marine vessels that, in most cases, incorporate Caterpillar products. The average original term of Cat Financial's customer finance receivable portfolio was approximately 50 months with an average remaining term of approximately 27 months as of December 31, 2021. Cat Financial typically maintains a security interest in financed equipment and requires physical damage insurance coverage on the financed equipment, both of which provide Cat Financial with certain rights and protections. If Cat Financial's collection efforts fail to bring a defaulted account current, Cat Financial generally can repossess the financed equipment, after satisfying local legal requirements, and sell it within the Caterpillar dealer network or through third-party auctions. Cat Financial estimates the allowance for credit losses related to its customer finance receivables based on loss forecast models utilizing probabilities of default and the estimated loss given default based on past loss experience adjusted for current conditions and reasonable and supportable forecasts capturing country and industry-specific economic factors. During the year ended December 31, 2021, Cat Financial's forecasts for the markets in which it operates reflected a general improvement in economic conditions, which had deteriorated due to the COVID-19 pandemic, resulting from a growing economy, improved unemployment rates and a decrease in delinquencies. The company believes the economic forecasts employed represent reasonable and supportable forecasts, followed by a reversion to long-term trends. Dealer Cat Financial provides financing to Caterpillar dealers in the form of wholesale financing plans. Cat Financial's wholesale financing plans provide assistance to dealers by financing their mostly new Caterpillar equipment inventory and rental fleets on a secured and unsecured basis. In addition, Cat Financial provides a variety of secured and unsecured loans to Caterpillar dealers. Cat Financial estimates the allowance for credit losses for dealer finance receivables based on historical loss rates with consideration of current economic conditions and reasonable and supportable forecasts. In general, Cat Financial's Dealer portfolio segment has not historically experienced large increases or decreases in credit losses based on changes in economic conditions due to its close working relationships with the dealers and their financial strength. Therefore, Cat Financial made no adjustments to historical loss rates during the year ended December 31, 2021. Classes of finance receivables Cat Financial further evaluates portfolio segments by the class of finance receivables, which is defined as a level of information (below a portfolio segment) in which the finance receivables have the same initial measurement attribute and a similar method for assessing and monitoring credit risk. Cat Financial's classes, which align with management reporting for credit losses, are as follows: • North America - Finance receivables originated in the United States and Canada. • EAME - Finance receivables originated in Europe, Africa, the Middle East and the Commonwealth of Independent States. • Asia/Pacific - Finance receivables originated in Australia, New Zealand, China, Japan, Southeast Asia and India. • Mining - Finance receivables related to large mining customers worldwide. • Latin America - Finance receivables originated in Mexico and Central and South American countries. • Caterpillar Power Finance - Finance receivables originated worldwide related to marine vessels with Caterpillar engines and Caterpillar electrical power generation, gas compression and co-generation systems and non-Caterpillar equipment that is powered by these systems. Receivable balances, including accrued interest, are written off against the allowance for credit losses when, in the judgment of management, they are considered uncollectible (generally upon repossession of the collateral). Generally, the amount of the write-off is determined by comparing the fair value of the collateral, less cost to sell, to the amortized cost. Subsequent recoveries, if any, are credited to the allowance for credit losses when received. An analysis of the allowance for credit losses was as follows: (Millions of dollars) December 31, 2021 December 31, 2020 Customer Dealer Total Customer Dealer Total Allowance for Credit Losses: Beginning balance $ 431 $ 44 $ 475 $ 375 $ 45 $ 420 Adjustment to adopt new accounting guidance 1 — — — 12 — 12 Write-offs (256) — (256) (263) — (263) Recoveries 51 — 51 41 — 41 Provision for credit losses 30 38 68 262 (1) 261 Other (5) — (5) 4 — 4 Ending balance $ 251 $ 82 $ 333 $ 431 $ 44 $ 475 Finance Receivables $ 20,135 $ 1,793 $ 21,928 $ 19,238 $ 2,922 $ 22,160 1 Adjustment to adopt new accounting guidance related to credit losses. Credit quality of finance receivables At origination, Cat Financial evaluates credit risk based on a variety of credit quality factors including prior payment experience, customer financial information, credit ratings, loan-to-value ratios, probabilities of default, industry trends, macroeconomic factors and other internal metrics. On an ongoing basis, Cat Financial monitors credit quality based on past-due status as there is a meaningful correlation between the past-due status of customers and the risk of loss. In determining past-due status, Cat Financial considers the entire finance receivable past due when any installment is over 30 days past due. Customer The tables below summarize the aging category of Cat Financial's amortized cost of finance receivables in the Customer portfolio segment by origination year: (Millions of dollars) December 31, 2021 2021 2020 2019 2018 2017 Prior Revolving Total Finance Receivables North America Current $ 4,792 $ 2,596 $ 1,426 $ 630 $ 182 $ 32 $ 182 $ 9,840 31-60 days past due 27 32 20 12 4 1 5 101 61-90 days past due 7 8 5 3 1 1 5 30 91+ days past due 9 17 12 13 5 4 5 65 EAME Current 1,499 836 577 352 140 26 — 3,430 31-60 days past due 5 4 3 1 1 — — 14 61-90 days past due 3 3 3 1 — — — 10 91+ days past due 3 11 2 2 — 2 — 20 Asia/Pacific Current 1,271 803 307 71 16 2 — 2,470 31-60 days past due 10 14 10 2 — — — 36 61-90 days past due 3 7 4 1 — — — 15 91+ days past due 2 10 10 3 — — — 25 Mining Current 851 347 307 193 36 161 36 1,931 31-60 days past due 6 — — — — — — 6 61-90 days past due 1 — — — 4 — — 5 91+ days past due — 1 8 9 3 1 — 22 Latin America Current 617 299 160 70 17 18 — 1,181 31-60 days past due 4 7 3 3 1 — — 18 61-90 days past due 3 3 1 1 — — — 8 91+ days past due 4 9 9 7 7 14 — 50 Caterpillar Power Finance Current 117 145 97 70 180 104 101 814 31-60 days past due — — — — — — — — 61-90 days past due — — — — — — — — 91+ days past due — — — — — 44 — 44 Total Customer $ 9,234 $ 5,152 $ 2,964 $ 1,444 $ 597 $ 410 $ 334 $ 20,135 (Millions of dollars) December 31, 2020 2020 2019 2018 2017 2016 Prior Revolving Total Finance Receivables North America Current $ 3,777 $ 2,423 $ 1,344 $ 522 $ 212 $ 27 $ 89 $ 8,394 31-60 days past due 52 49 33 16 7 2 — 159 61-90 days past due 22 25 16 9 2 1 — 75 91+ days past due 14 35 31 20 9 4 2 115 EAME Current 1,605 931 501 203 60 18 — 3,318 31-60 days past due 5 15 3 2 — — — 25 61-90 days past due 1 1 2 1 — — — 5 91+ days past due 7 7 12 4 39 43 — 112 Asia/Pacific Current 1,375 745 321 61 10 3 — 2,515 31-60 days past due 12 22 13 6 — — — 53 61-90 days past due 7 11 7 1 — — — 26 91+ days past due 4 10 9 3 — — — 26 Mining Current 490 571 287 152 92 151 137 1,880 31-60 days past due 5 — 5 1 — — — 11 61-90 days past due — — — — — — — — 91+ days past due — 11 8 2 — — 1 22 Latin America Current 561 348 151 48 13 34 — 1,155 31-60 days past due 3 6 4 3 — — — 16 61-90 days past due 1 7 6 3 2 — — 19 91+ days past due 2 14 11 24 5 4 — 60 Caterpillar Power Finance Current 217 172 111 273 99 117 119 1,108 31-60 days past due — — 6 — — — — 6 61-90 days past due — — — — — 9 — 9 91+ days past due 2 — 20 3 25 79 — 129 Total Customer $ 8,162 $ 5,403 $ 2,901 $ 1,357 $ 575 $ 492 $ 348 $ 19,238 Finance receivables in the Customer portfolio segment are substantially secured by collateral, primarily in the form of Caterpillar and other equipment. For those contracts where the borrower is experiencing financial difficulty, repayment of the outstanding amounts is generally expected to be provided through the operation or repossession and sale of the equipment. Dealer As of December 31, 2021, Cat Financial's total amortized cost of finance receivables within the Dealer portfolio segment was current, with the exception of $78 million that was 91+ days past due in Latin America, all of which was originated in 2017. As of December 31, 2020, Cat Financial's total amortized cost of finance receivables within the Dealer portfolio segment was current, with the exception of $81 million that was 91+ days past due in Latin America. Of these past due receivables, $78 million were originated in 2017 and $3 million were originated prior to 2016. Non-accrual finance receivables Recognition of income is suspended and the finance receivable is placed on non-accrual status when management determines that collection of future income is not probable. Contracts on non-accrual status are generally more than 120 days past due or have been restructured in a troubled debt restructuring (TDR). Recognition is resumed and previously suspended income is recognized when the collection of remaining amounts is considered probable. Payments received while the finance receivable is on non-accrual status are applied to interest and principal in accordance with the contractual terms. Interest earned but uncollected prior to the receivable being placed on non-accrual status is written off through Provision for credit losses when, in the judgment of management, it is considered uncollectible. In Cat Financial's Customer portfolio segment, finance receivables which were on non-accrual status and finance receivables over 90 days past due and still accruing income were as follows: December 31, 2021 December 31, 2020 Amortized Cost Amortized Cost (Millions of dollars) Non-accrual Non-accrual 91+ Still Non-accrual Non-accrual 91+ Still North America $ 47 $ 9 $ 12 $ 86 $ 1 $ 34 EAME 18 1 2 113 1 1 Asia/Pacific 19 — 7 13 — 13 Mining 8 1 14 21 1 — Latin America 52 4 1 63 — 1 Caterpillar Power Finance 40 11 — 170 17 — Total $ 184 $ 26 $ 36 $ 466 $ 20 $ 49 There was $12 million, $12 million and $28 million of interest income recognized during the years ended December 31, 2021, 2020 and 2019, respectively, for customer finance receivables on non-accrual status. As of December 31, 2021 and 2020, finance receivables in Cat Financial's Dealer portfolio segment on non-accrual status were $78 million and $81 million, respectively, all of which was in Latin America. There were no finance receivables in Cat Financial's Dealer portfolio segment more than 90 days past due and still accruing income as of December 31, 2021 and 2020 and no interest income was recognized on dealer finance receivables on non-accrual status during the years ended December 31, 2021, 2020 and 2019. Troubled debt restructurings A restructuring of a finance receivable constitutes a TDR when the lender grants a concession it would not otherwise consider to a borrower experiencing financial difficulties. Concessions granted may include extended contract maturities, inclusion of interest only periods, below market interest rates, payment deferrals and reduction of principal and/or accrued interest. Cat Financial individually evaluates TDR contracts and establishes an allowance based on the present value of expected future cash flows discounted at the receivable's effective interest rate, the fair value of the collateral for collateral-dependent receivables or the observable market price of the receivable. There were no finance receivables modified as TDRs during the years ended December 31, 2021, 2020 and 2019 for the Dealer portfolio segment. Cat Financial’s finance receivables in the Customer portfolio segment modified as TDRs for the years ended December 31, were as follows: (Millions of dollars) Year ended December 31, 2021 Year ended December 31, 2020 Year ended December 31, 2019 Pre-TDR Post-TDR Pre-TDR Post-TDR Pre-TDR Post-TDR Customer North America $ 6 $ 6 $ 13 $ 13 $ 11 $ 11 EAME 3 3 — — 17 17 Asia/Pacific 4 4 12 12 — — Mining 11 5 35 35 8 8 Latin America 12 12 45 45 5 3 Caterpillar Power Finance 26 22 115 115 168 165 Total $ 62 $ 52 $ 220 $ 220 $ 209 $ 204 The Post-TDR amortized costs in the Customer portfolio segment with a payment default (defined as 91+ days past due) which had been modified within twelve months prior to the default date, were as follows: (Millions of dollars) Years ended December 31, Customer 2021 2020 2019 North America $ 1 $ 8 $ 5 EAME — 10 — Asia/Pacific 6 2 — Mining — 10 — Latin America 15 1 — Caterpillar Power Finance 7 18 10 Total $ 29 $ 49 $ 15

Inventories

Inventories	12 Months Ended
Inventories	Dec. 31, 2021
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories (principally using the LIFO method) are comprised of the following: December 31, (Millions of dollars) 2021 2020 Raw materials $ 5,528 $ 4,021 Work-in-process 1,318 1,052 Finished goods 6,907 6,054 Supplies 285 275 Total inventories $ 14,038 $ 11,402

Property, plant and equipment

Property, plant and equipment	12 Months Ended
Property, plant and equipment	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
Property, plant and equipment	Property, plant and equipment December 31, (Millions of dollars) Useful 2021 2020 Land — $ 648 $ 681 Buildings and land improvements 20-45 7,113 7,091 Machinery, equipment and other 2-10 12,868 13,004 Software 3-7 1,697 1,679 Equipment leased to others 1-7 5,733 6,077 Construction-in-process — 812 739 Total property, plant and equipment, at cost 28,871 29,271 Less: Accumulated depreciation (16,781) (16,870) Property, plant and equipment–net $ 12,090 $ 12,401

Intangible assets and goodwill

Intangible assets and goodwill	12 Months Ended
Intangible assets and goodwill	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible assets and goodwill	Intangible assets and goodwill A. Intangible assets Intangible assets were comprised of the following: December 31, 2021 (Millions of dollars) Weighted Gross Accumulated Net Customer relationships 15 $ 2,421 $ (1,709) $ 712 Intellectual property 12 1,472 (1,192) 280 Other 14 156 (106) 50 Total finite-lived intangible assets 14 $ 4,049 $ (3,007) $ 1,042 December 31, 2020 Weighted Gross Accumulated Net Customer relationships 15 $ 2,493 $ (1,600) $ 893 Intellectual property 12 1,439 (1,073) 366 Other 14 164 (115) 49 Total finite-lived intangible assets 14 $ 4,096 $ (2,788) $ 1,308 Finite-lived intangible assets are amortized over their estimated useful lives and tested for impairment if events or changes in circumstances indicate that the asset may be impaired. Amortization expense related to intangible assets was $302 million, $311 million and $324 million for 2021, 2020 and 2019, respectively. As of December 31, 2021, amortization expense related to intangible assets is expected to be: (Millions of dollars) 2022 2023 2024 2025 2026 Thereafter $286 $227 $169 $159 $88 $113 B. Goodwill There were no goodwill impairments during 2021, 2020 or 2019. The changes in carrying amount of goodwill by reportable segment for the years ended December 31, 2021 and 2020 were as follows: (Millions of dollars) December 31, 2020 Acquisitions Other Adjustments 1 December 31, 2021 Construction Industries Goodwill $ 320 $ 4 $ (22) $ 302 Impairments (22) — — (22) Net goodwill 298 4 (22) 280 Resource Industries Goodwill 4,253 22 (93) 4,182 Impairments (1,175) — — (1,175) Net goodwill 3,078 22 (93) 3,007 Energy & Transportation Goodwill 2,959 49 (23) 2,985 All Other 2 Goodwill 59 — (7) 52 Consolidated total Goodwill 7,591 75 (145) 7,521 Impairments (1,197) — — (1,197) Net goodwill $ 6,394 $ 75 $ (145) $ 6,324 December 31, 2019 Acquisitions Other Adjustments 1 December 31, 2020 Construction Industries Goodwill $ 306 $ — $ 14 $ 320 Impairments (22) — — (22) Net goodwill 284 — 14 298 Resource Industries Goodwill 4,156 — 97 4,253 Impairments (1,175) — — (1,175) Net goodwill 2,981 — 97 3,078 Energy & Transportation Goodwill 2,875 41 43 2,959 All Other 2 Goodwill 56 — 3 59 Consolidated total Goodwill 7,393 41 157 7,591 Impairments (1,197) — — (1,197) Net goodwill $ 6,196 $ 41 $ 157 $ 6,394 1 Other adjustments are comprised primarily of foreign currency translation. 2 Includes All Other operating segment (See Note 23).

Investments in debt and equity

Investments in debt and equity securities	12 Months Ended
Investments in debt and equity securities	Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Investments in debt and equity securities	Investments in debt and equity securities We have investments in certain debt and equity securities, primarily at Insurance Services, which we record at fair value and primarily include in Other assets in Statement 3. We classify debt securities primarily as available-for-sale. We include the unrealized gains and losses arising from the revaluation of available-for-sale debt securities, net of applicable deferred income taxes, in equity (AOCI in Statement 3). We include the unrealized gains and losses arising from the revaluation of the equity securities in Other income (expense) in Statement 1. We generally determine realized gains and losses on sales of investments using the specific identification method for available-for-sale debt and equity securities and include them in Other income (expense) in Statement 1. The cost basis and fair value of available-for-sale debt securities with unrealized gains and losses included in equity (AOCI in Statement 3) were as follows: December 31, 2021 December 31, 2020 (Millions of dollars) Cost Unrealized Fair Cost Unrealized Fair Government debt U.S. treasury bonds $ 10 $ — $ 10 $ 10 $ — $ 10 Other U.S. and non-U.S. government bonds 61 — 61 58 1 59 Corporate bonds Corporate bonds 1,027 19 1,046 962 50 1,012 Asset-backed securities 175 1 176 156 3 159 Mortgage-backed debt securities U.S. governmental agency 319 6 325 362 12 374 Residential 4 — 4 5 — 5 Commercial 98 1 99 60 4 64 Total debt securities $ 1,694 $ 27 $ 1,721 $ 1,613 $ 70 $ 1,683 As of December 31, 2021, the total unrealized losses for available-for-sale investments with net losses in AOCI was $6 million. As of December 31, 2020, there was no available-for-sale investments with net losses in AOCI. The cost basis and fair value of available-for-sale debt securities at December 31, 2021, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to prepay and creditors may have the right to call obligations. December 31, 2021 (Millions of dollars) Cost Basis Fair Value Due in one year or less $ 120 $ 121 Due after one year through five years 750 763 Due after five years through ten years 332 337 Due after ten years 71 72 U.S. governmental agency mortgage-backed securities 319 325 Residential mortgage-backed securities 4 4 Commercial mortgage-backed securities 98 99 Total debt securities – available-for-sale $ 1,694 $ 1,721 Sales of available-for-sale debt securities: Years Ended December 31, (Millions of dollars) 2021 2020 2019 Proceeds from the sale of available-for-sale securities $ 454 $ 290 $ 260 Gross gains from the sale of available-for-sale securities $ 4 $ 2 $ 1 Gross losses from the sale of available-for-sale securities $ — $ 1 $ 1 In addition, we had $964 million of investments in time deposits classified as held-to-maturity debt securities as of December 31, 2021. All these investments mature within one year and we include them in Prepaid expenses and other current assets in Statement 3. We did not have any investments classified as held-to-maturity debt securities as of December 31, 2020. We record held-to-maturity debt securities at amortized cost, which approximates fair value. We did not have any unrealized gains or losses on these securities as of December 31, 2021 and 2020. For the years ended December 31 2021 and 2020, the net unrealized gains (losses) for equity securities held at December 31, 2021 and 2020 were $105 million and $47 million, respectively.

Postemployment benefit plans

Postemployment benefit plans	12 Months Ended
Postemployment benefit plans	Dec. 31, 2021
Retirement Benefits [Abstract]
Postemployment benefit plans	Postemployment benefit plans We provide defined benefit pension plans, defined contribution plans and/or other postretirement benefit plans (retirement health care and life insurance) to employees in many of our locations throughout the world. Our defined benefit pension plans provide a benefit based on years of service and/or the employee’s average earnings near retirement. Our defined contribution plans allow employees to contribute a portion of their salary to help save for retirement, and in most cases, we provide a matching contribution. The benefit obligation related to our non-U.S. defined benefit pension plans are for employees located primarily in Europe, Japan and Brazil. For other postretirement benefits (OPEB), substantially all of our benefit obligation is for employees located in the United States. Our U.S. defined benefit pension plans for support and management employees were frozen for certain employees on December 31, 2010 and were frozen for the remaining employees on December 31, 2019. On the respective transition dates employees moved to a retirement benefit that provided a frozen pension benefit and a 401(k) plan that will include a matching contribution and an annual employer contribution. A. Obligations, assets and funded status U.S. Pension Benefits Non-U.S. Other Postretirement 2021 2020 2021 2020 2021 2020 Weighted-average assumptions used to determine benefit obligation, end of year: Discount rate 2.8 % 2.4 % 1.8 % 1.4 % 2.7 % 2.3 % Rate of compensation increase 1 — % — % 2.0 % 2.0 % 4.0 % 4.0 % 1 Effective December 31, 2019, all U.S. pension benefits were frozen, and accordingly this assumption is no longer applicable. We use the assumed discount rate to discount future benefit obligations back to today’s dollars. The U.S. discount rate is based on a benefit cash flow-matching approach and represents the rate at which our benefit obligations could effectively be settled as of our measurement date, December 31. The benefit cash flow-matching approach involves analyzing Caterpillar’s projected cash flows against a high quality bond yield curve, calculated using a wide population of corporate Aa bonds available on the measurement date. We use a similar process to determine the assumed discount rate for our most significant non-U.S. plans. This rate is sensitive to changes in interest rates. A decrease in the discount rate would increase our obligation and future expense. U.S. Pension Benefits Non-U.S. Other Postretirement (Millions of dollars) 2021 2020 2021 2020 2021 2020 Accumulated benefit obligation, end of year $ 17,895 $ 19,177 $ 4,311 $ 4,680 Change in benefit obligation: Benefit obligation, beginning of year $ 19,177 $ 17,773 $ 4,847 $ 4,666 $ 4,051 $ 3,960 Service cost 1 — — 57 55 100 94 Interest cost 330 483 53 68 64 103 Plan amendments — — — 6 — (8) Actuarial losses (gains) 2 (610) 1,922 (142) 258 (211) 192 Foreign currency exchange rates — — (154) 213 (15) (25) Participant contributions — — 4 4 48 44 Benefits paid - gross (996) (997) (184) (159) (310) (317) Less: federal subsidy on benefits paid — — — — 9 8 Curtailments, settlements and termination benefits (6) (4) (45) (264) — — Benefit obligation, end of year $ 17,895 $ 19,177 $ 4,436 $ 4,847 $ 3,736 $ 4,051 Change in plan assets: Fair value of plan assets, beginning of year $ 17,589 $ 15,994 $ 4,731 $ 4,525 $ 147 $ 255 Actual return on plan assets 595 2,552 99 385 34 23 Foreign currency exchange rates — — (139) 164 — — Company contributions 45 44 84 76 211 142 Participant contributions — — 4 4 48 44 Benefits paid (996) (997) (184) (159) (310) (317) Settlements and termination benefits (6) (4) (43) (264) — — Fair value of plan assets, end of year $ 17,227 $ 17,589 $ 4,552 $ 4,731 $ 130 $ 147 Over (under) funded status $ (668) $ (1,588) $ 116 $ (116) $ (3,606) $ (3,904) Components of net amount recognized in financial position: Other assets (non-current asset) $ 592 $ 409 $ 538 $ 556 $ — $ — Accrued wages, salaries and employee benefits (current liability) (45) (44) (16) (25) (240) (186) Liability for postemployment benefits (non-current liability) 3 (1,215) (1,953) (406) (647) (3,366) (3,718) Net (liability) asset recognized $ (668) $ (1,588) $ 116 $ (116) $ (3,606) $ (3,904) Amounts recognized in Accumulated other comprehensive income (pre-tax) consist of: Prior service cost (credit) $ — $ — $ 23 $ 24 $ (5) $ (46) 1 Effective December 31, 2019, all U.S. pension benefits were frozen, and accordingly there is no longer any service cost. 2 For 2021, Actuarial loss (gain) impacting the benefit obligation was primarily due to higher discount rates at the end of 2021 compared to the end of 2020. For 2020, Actuarial loss (gain) impacting the benefit obligation was primarily due to lower discount rates at the end of 2020 compared to the end of 2019. 3 The Liability for postemployment benefits reported in Statement 3 includes our liability for other postemployment benefits and our liability for non-qualified deferred compensation plans. For 2021, these liabilities were $67 million and $538 million, respectively. For 2020, these liabilities were $63 million and $491 million, respectively. U.S. Pension Benefits Non-U.S. (Millions of dollars) 2021 2020 2021 2020 Pension plans with projected benefit obligation in excess of plan assets: Projected benefit obligation $ 14,403 $ 15,300 $ 743 $ 2,171 Fair value of plan assets $ 13,143 $ 13,302 $ 319 $ 1,499 Pension plans with accumulated benefit obligation in excess of plan assets: Accumulated benefit obligation $ 14,403 $ 15,300 $ 603 $ 1,988 Fair value of plan assets $ 13,143 $ 13,302 $ 234 $ 1,425 The accumulated postretirement benefit obligation exceeds plan assets for all of our other postretirement benefit plans for all years presented. B. Net periodic benefit cost U.S. Pension Benefits Non-U.S. Pension Benefits Other Postretirement Benefits (Millions of dollars) 2021 2020 2019 2021 2020 2019 2021 2020 2019 Components of net periodic benefit cost: Service cost 1 $ — $ — $ 115 $ 57 $ 55 $ 80 $ 100 $ 94 $ 80 Interest cost 330 483 600 53 68 94 64 103 136 Expected return on plan assets (718) (791) (721) (128) (135) (148) (6) (12) (18) Curtailments, settlements and termination benefits — (1) (1) (1) 30 (7) — — — Amortization of prior service cost (credit) — — — — — — (40) (38) (40) Actuarial loss (gain) 2 (487) 162 72 (115) 32 90 (231) 189 306 Net Periodic benefit cost (benefit) 3 $ (875) $ (147) $ 65 $ (134) $ 50 $ 109 $ (113) $ 336 $ 464 Other changes in plan assets and benefit obligations recognized in other comprehensive income (pre-tax): Current year prior service cost (credit) $ — $ — $ — $ — $ 8 $ (4) $ — $ (7) $ 8 Amortization of prior service (cost) credit — — — — — — 40 38 40 Total recognized in other comprehensive income — — — — 8 (4) 40 31 48 Total recognized in net periodic cost and other comprehensive income $ (875) $ (147) $ 65 $ (134) $ 58 $ 105 $ (73) $ 367 $ 512 Weighted-average assumptions used to determine net periodic benefit cost: Discount rate used to measure service cost 1 — % — % 4.3 % 1.4 % 1.5 % 2.5 % 2.5 % 3.2 % 4.1 % Discount rate used to measure interest cost 1.8 % 2.8 % 3.9 % 1.2 % 1.7 % 2.3 % 1.6 % 2.8 % 3.9 % Expected rate of return on plan assets 4 4.2 % 5.1 % 5.9 % 2.9 % 3.3 % 3.8 % 6.5 % 7.0 % 7.2 % Rate of compensation increase 1 — % — % 4.0 % 2.0 % 2.0 % 3.0 % 4.0 % 4.0 % 4.1 % 1 Effective December 31, 2019, all U.S. pension benefits were frozen, and accordingly there is no longer any service cost and certain assumptions are no longer applicable. 2 Actuarial loss (gain) represents the effects of actual results differing from our assumptions and the effects of changing assumptions. We recognize actuarial loss (gain) immediately through earnings upon the annual remeasurement in the fourth quarter, or on an interim basis as triggering events warrant remeasurement. 3 The service cost component is included in Operating costs and all other components are included in Other income (expense) in Statement 1. 4 The weighted-average rates for 2022 are 4.0 percent and 3.1 percent for U.S. and non-U.S. pension plans, respectively. The discount rates used in the determination of our service and interest cost components utilize a full yield curve approach which applies specific spot rates along the yield curve used in the calculation of the benefit obligation to the relevant projected cash flows. Our U.S. expected long-term rate of return on plan assets is based on our estimate of long-term passive returns for equities and fixed income securities weighted by the allocation of our pension assets. Based on historical performance, we increase the passive returns due to our active management of the plan assets. To arrive at our expected long-term return, the amount added for active management was 0.35 percent for 2021, and 0.40 percent for 2020 and 2019. We use a similar process to determine this rate for our non-U.S. plans. C. Expected contributions and Benefit payments The following table presents information about expected contributions and benefit payments for pension and other postretirement benefit plans: (Millions of dollars) 2022 Expected employer contributions: U.S. Pension Benefits $ 46 Non-U.S. Pension Benefits $ 55 Other Postretirement Benefits $ 256 Expected benefit payments: 2022 2023 2024 2025 2026 2027- Total U.S. Pension Benefits $ 1,035 $ 1,020 $ 1,020 $ 1,020 $ 1,020 $ 4,960 $ 10,075 Non-U.S. Pension Benefits $ 210 $ 175 $ 180 $ 185 $ 195 $ 1,045 $ 1,990 Other Postretirement Benefits $ 275 $ 270 $ 265 $ 260 $ 260 $ 1,250 $ 2,580 Expected Medicare Part D subsidy: $ 7 $ 7 $ 7 $ 7 $ 6 $ 26 $ 60 The above table reflects the total expected employer contributions and expected benefits to be paid from the plan or from company assets and does not include the participants’ share of the cost. The expected benefit payments for our other postretirement benefits include payments for prescription drug benefits. The above table also includes Medicare Part D subsidy amounts expected to be received by the company which will offset other postretirement benefit payments. D. Plan assets In general, our strategy for both the U.S. and non-U.S. pensions includes ongoing alignment of our investments to our liabilities, while reducing risk in our portfolio. The current U.S. pension target asset allocation is 85 percent fixed income and 15 percent equities. We will revise this target allocation periodically to ensure it reflects our overall objectives. The non-U.S. pension weighted-average target allocations are 82 percent fixed income, 10 percent equities, 5 percent real estate and 3 percent other. The target allocations for each plan vary based upon local statutory requirements, demographics of plan participants and funded status. We primarily invest the non-U.S. plan assets in non-U.S. securities. Our target allocation for the other postretirement benefit plans is 70 percent equities and 30 percent fixed income. We rebalance the U.S. plans to within the appropriate target asset allocation ranges on a monthly basis. The frequency of rebalancing for the non-U.S. plans varies depending on the plan. As a result of our diversification strategies, there are no significant concentrations of risk within the portfolio of investments. We permit the use of certain derivative instruments where appropriate and necessary for achieving overall investment policy objectives. The plans do not use derivative contracts for speculative purposes. The accounting guidance on fair value measurements specifies a fair value hierarchy based upon the observability of inputs used in valuation techniques (Level 1, 2 and 3). Certain assets that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy. See Note 18 for a discussion of the fair value hierarchy. We determine fair values as follows: • Equity securities are primarily based on valuations for identical instruments in active markets. • Fixed income securities are primarily based upon models that take into consideration such market-based factors as recent sales, risk-free yield curves and prices of similarly rated bonds. • Real estate is stated at the fund’s net asset value or at appraised value. • Cash, short-term instruments and other are based on the carrying amount, which approximates fair value, or the fund’s net asset value. The fair value of the pension and other postretirement benefit plan assets by category is summarized below: December 31, 2021 (Millions of dollars) Level 1 Level 2 Level 3 Measured at NAV Total Assets at Fair Value U.S. Pension Equity securities: U.S. equities $ 1,644 $ 25 $ 23 $ 149 $ 1,841 Non-U.S. equities 1,398 — 2 — 1,400 Fixed income securities: U.S. corporate bonds — 7,289 40 37 7,366 Non-U.S. corporate bonds — 1,569 — — 1,569 U.S. government bonds — 4,341 — — 4,341 U.S. governmental agency mortgage-backed securities — 24 — — 24 Non-U.S. government bonds — 172 — — 172 Real estate — — 7 — 7 Cash, short-term instruments and other 228 60 — 219 507 Total U.S. pension assets $ 3,270 $ 13,480 $ 72 $ 405 $ 17,227 December 31, 2020 (Millions of dollars) Level 1 Level 2 Level 3 Measured at NAV Total Assets at Fair Value U.S. Pension Equity securities: U.S. equities $ 2,292 $ 5 $ 28 $ 133 $ 2,458 Non-U.S. equities 1,838 — 1 — 1,839 Fixed income securities: U.S. corporate bonds — 7,395 53 119 7,567 Non-U.S. corporate bonds — 1,372 — — 1,372 U.S. government bonds — 3,618 — — 3,618 U.S. governmental agency mortgage-backed securities — 27 — — 27 Non-U.S. government bonds — 133 — — 133 Real estate — — 9 — 9 Cash, short-term instruments and other 363 22 — 181 566 Total U.S. pension assets $ 4,493 $ 12,572 $ 91 $ 433 $ 17,589 December 31, 2021 (Millions of dollars) Level 1 Level 2 Level 3 Measured at NAV Total Assets at Fair Value Non-U.S. Pension Equity securities: U.S. equities $ 72 $ — $ — $ — $ 72 Non-U.S. equities 266 32 — 37 335 Global equities 1 31 15 — 46 92 Fixed income securities: U.S. corporate bonds — 327 — — 327 Non-U.S. corporate bonds — 889 — — 889 U.S. government bonds — 152 — — 152 Non-U.S. government bonds — 1,752 — — 1,752 Global fixed income 1 — 88 — 297 385 Real estate — 225 — — 225 Cash, short-term instruments and other 2 56 267 — — 323 Total non-U.S. pension assets $ 425 $ 3,747 $ — $ 380 $ 4,552 December 31, 2020 (Millions of dollars) Level 1 Level 2 Level 3 Measured at NAV Total Assets at Fair Value Non-U.S. Pension Equity securities: U.S. equities $ 97 $ — $ — $ — $ 97 Non-U.S. equities 368 33 — 50 451 Global equities 1 29 17 — 49 95 Fixed income securities: U.S. corporate bonds — 314 — — 314 Non-U.S. corporate bonds — 987 — — 987 U.S. government bonds — 2 — — 2 Non-U.S. government bonds — 1,743 — — 1,743 Global fixed income 1 — 131 — 325 456 Real estate — 239 — — 239 Cash, short-term instruments and other 2 71 276 — — 347 Total non-U.S. pension assets $ 565 $ 3,742 $ — $ 424 $ 4,731 1 Includes funds that invest in both U.S. and non-U.S. securities. 2 Includes funds that invest in multiple asset classes, hedge funds and other. December 31, 2021 (Millions of dollars) Level 1 Level 2 Level 3 Measured at NAV Total Assets at Fair Value Other Postretirement Benefits Equity securities: U.S. equities $ 49 $ — $ — $ — $ 49 Non-U.S. equities 17 — — — 17 Cash, short-term instruments and other — 2 — 62 64 Total other postretirement benefit assets $ 66 $ 2 $ — $ 62 $ 130 December 31, 2020 (Millions of dollars) Level 1 Level 2 Level 3 Measured at NAV Total Assets at Fair Value Other Postretirement Benefits Equity securities: U.S. equities $ 88 $ — $ — $ — $ 88 Non-U.S. equities 21 — — — 21 Fixed income securities: U.S. corporate bonds — 11 — 1 12 Non-U.S. corporate bonds — 2 — — 2 U.S. government bonds — 3 — — 3 U.S. governmental agency mortgage-backed securities — 6 — — 6 Non-U.S. government bonds — 3 — — 3 Cash, short-term instruments and other — 2 — 10 12 Total other postretirement benefit assets $ 109 $ 27 $ — $ 11 $ 147 The activity attributable to U.S. pension assets measured at fair value using Level 3 inputs for the years ended December 31, 2021 and 2020 was insignificant. We valued these instruments using pricing models that, in management’s judgment, reflect the assumptions a market participant would use. E. Defined contribution plans We have both U.S. and non-U.S. employee defined contribution plans to help employees save for retirement. Our primary U.S. 401(k) plan allows eligible employees to contribute a portion of their cash compensation to the plan on a tax-deferred basis. Employees with frozen defined benefit pension accruals are eligible for matching contributions equal to 100 percent of employee contributions to the plan up to 6 percent of cash compensation and an annual employer contribution that ranges from 3 to 5 percent of cash compensation (depending on years of service and age). Employees that were still accruing benefits under a defined benefit pension plan up to December 31, 2019 were eligible for matching contributions equal to 50 percent of employee contributions up to 6 percent of cash compensation. All our U.S. defined benefit pension plans were frozen on December 31, 2019 for remaining employees still accruing a benefit. Starting in 2020, these employees receive matching contributions equal to 100 percent of employee contributions to the plan up to 6 percent of cash compensation and an annual employer contribution that ranges from 3 to 5 percent of cash compensation (depending on years of service and age). These 401(k) plans include various investment funds, including a non-leveraged employee stock ownership plan (ESOP). As of December 31, 2021 and 2020, the ESOP held 12.4 million and 13.2 million shares, respectively. We allocate all of the shares held by the ESOP to participant accounts. Dividends paid to participants are automatically reinvested into company shares unless the participant elects to have all or a portion of the dividend paid to the participant. Various other U.S. and non-U.S. defined contribution plans generally allow eligible employees to contribute a portion of their cash compensation to the plans, and in most cases, we provide a matching contribution to the funds. Total company costs related to U.S. and non-U.S. defined contribution plans were as follows: (Millions of dollars) 2021 2020 2019 U.S. plans $ 440 $ 384 $ 414 Non-U.S. plans 114 89 83 $ 554 $ 473 $ 497

Short-term borrowings

Short-term borrowings	12 Months Ended
Short-term borrowings	Dec. 31, 2021
Short-term Debt [Abstract]
Short-term borrowings	Short-term borrowings December 31, (Millions of dollars) 2021 2020 Machinery, Energy & Transportation: Notes payable to banks $ 9 $ 10 9 10 Financial Products: Notes payable to banks 213 307 Commercial paper 4,896 1,321 Demand notes 286 377 5,395 2,005 Total short-term borrowings $ 5,404 $ 2,015 The weighted-average interest rates on short-term borrowings outstanding were: December 31, 2021 2020 Notes payable to banks 4.4 % 3.7 % Commercial paper 0.1 % 0.1 % Demand notes 0.2 % 0.3 % Please refer to Note 18 for fair value information on short-term borrowings.

Long-term debt

Long-term debt	12 Months Ended
Long-term debt	Dec. 31, 2020
Debt Disclosure [Abstract]
Long-term debt	Long-term debt December 31, (Millions of dollars) Effective Yield to Maturity 1 2021 2020 Machinery, Energy & Transportation: Notes—$759 million of 5.200% due 2041 2 5.27% $ 752 $ 752 Debentures—$500 million of 2.600% due 2022 2 2.70% — 499 Debentures—$82 million of 8.000% due 2023 8.06% 82 82 Debentures—$1,000 million of 3.400% due 2024 3.46% 999 998 Debentures—$193 million of 6.625% due 2028 2 6.68% 192 192 Debentures—$500 million of 2.600% due 2029 2 2.67% 498 497 Debentures—$800 million of 2.600% due 2030 2 2.72% 793 793 Debentures—$500 million of 1.900% due 2031 2 2.04% 495 — Debentures—$242 million of 7.300% due 2031 2 7.38% 240 240 Debentures—$307 million of 5.300% due 2035 2 8.64% 226 223 Debentures—$460 million of 6.050% due 2036 2 6.12% 456 456 Debentures—$65 million of 8.250% due 2038 2 8.38% 64 64 Debentures—$160 million of 6.950% due 2042 2 7.02% 158 158 Debentures—$1,722 million of 3.803% due 2042 2 6.39% 1,316 1,296 Debentures—$500 million of 4.300% due 2044 4.39% 493 493 Debentures—$1,000 million of 3.250% due 2049 2 3.34% 983 983 Debentures—$1,200 million of 3.250% due 2050 2 3.32% 1,185 1,185 Debentures—$500 million of 4.750% due 2064 4.81% 494 494 Debentures—$246 million of 7.375% due 2097 2 7.51% 241 241 Finance lease obligations & other 79 103 Total Machinery, Energy & Transportation 9,746 9,749 Financial Products: Medium-term notes 16,127 16,012 Other 160 238 Total Financial Products 16,287 16,250 Total long-term debt due after one year $ 26,033 $ 25,999 1 Effective yield to maturity includes the impact of discounts, premiums and debt issuance costs. 2 Redeemable at our option in whole or in part at any time at a redemption price equal to the greater of (i) 100% of the principal amount or (ii) the discounted present value of the notes or debentures, calculated in accordance with the terms of such notes or debentures. All outstanding notes and debentures are unsecured and rank equally with one another. On April 9, 2020, we issued $1.2 billion of 3.250% Senior Notes due 2050 and $800 million of 2.600% Senior Notes due 2030. On March 12, 2021 we issued $500 million of 1.900% Senior Notes due 2031. Cat Financial’s medium-term notes are offered by prospectus and are issued through agents at fixed and floating rates. Medium-term notes due after one year have a weighted average interest rate of 1.5% with remaining maturities up to 6 years at December 31, 2021. The aggregate amounts of maturities of long-term debt during each of the years 2022 through 2026, including amounts due within one year and classified as current, are: December 31, (Millions of dollars) 2022 2023 2024 2025 2026 Machinery, Energy & Transportation $ 45 $ 103 $ 1,013 $ 10 $ 6 Financial Products 6,307 5,221 7,129 1,629 1,555 $ 6,352 $ 5,324 $ 8,142 $ 1,639 $ 1,561 The above table includes $5 million of medium-term notes that can be called at par. Medium-term notes of $1.35 billion maturing in the first quarter of 2022 were excluded from the current maturities of long-term debt in Statement 3 as of December 31, 2021 due to a $2.0 billion issuance of medium-term notes on January 10, 2022 of which $1.5 billion mature in 2024 and $500 million mature in 2027. The preceding maturity table reflects the reclassification of $1.35 billion from maturities in 2022 to 2024. Interest paid on short-term and long-term borrowings for 2021, 2020 and 2019 was $920 million, $1,089 million and $1,057 million, respectively. Please refer to Note 18 for fair value information on long-term debt.

Credit commitments

Credit commitments	12 Months Ended
Credit commitments	Dec. 31, 2021
Credit Commitments [Abstract]
Credit commitments	Credit commitments December 31, 2021 (Millions of dollars) Consolidated Machinery, Financial Credit lines available: Global credit facilities $ 10,500 $ 2,750 $ 7,750 Other external 3,251 184 3,067 Total credit lines available 13,751 2,934 10,817 Less: Commercial paper outstanding (4,896) — (4,896) Less: Utilized credit (568) (9) (559) Available credit $ 8,287 $ 2,925 $ 5,362 We have three global credit facilities with a syndicate of banks totaling $10.50 billion (Credit Facility) available in the aggregate to both Caterpillar and Cat Financial for general liquidity purposes. Based on management's allocation decision, which can be revised from time to time, the portion of the Credit Facility available to ME&T as of December 31, 2021 was $2.75 billion. Information on our Credit Facility is as follows: • The 364-day facility of $3.15 billion (of which $825 million is available to ME&T) expires on September 1, 2022. • The three-year facility, as amended and restated in September 2021, of $2.73 billion (of which $715 million is available to ME&T) expires in September 2024. • The five-year facility, as amended and restated in September 2021, of $4.62 billion (of which $1.21 billion is available to ME&T) expires in September 2026. Other consolidated credit lines with banks as of December 31, 2021 totaled $3.25 billion. These committed and uncommitted credit lines, which may be eligible for renewal at various future dates or have no specified expiration date, are used primarily by our subsidiaries for local funding requirements. Caterpillar or Cat Financial may guarantee subsidiary borrowings under these lines. At December 31, 2021, Caterpillar’s consolidated net worth was $16.58 billion, which was above the $9.00 billion required under the Credit Facility. The consolidated net worth is defined as the consolidated shareholders’ equity including preferred stock but excluding the pension and other postretirement benefits balance within AOCI. At December 31, 2021, Cat Financial’s covenant interest coverage ratio was 2.51 to 1. This is above the 1.15 to 1 minimum ratio, calculated as (1) profit excluding income taxes, interest expense and net gain/(loss) from interest rate derivatives to (2) interest expense calculated at the end of each calendar quarter for the rolling four quarter period then most recently ended, required by the Credit Facility. In addition, at December 31, 2021, Cat Financial’s six-month covenant leverage ratio was 7.25 to 1 and year-end covenant leverage ratio was 7.91 to 1. This is below the maximum ratio of debt to net worth of 10 to 1, calculated (1) on a monthly basis as the average of the leverage ratios determined on the last day of each of the six preceding calendar months and (2) at each December 31, required by the Credit Facility. In the event Caterpillar or Cat Financial does not meet one or more of their respective financial covenants under the Credit Facility in the future (and are unable to obtain a consent or waiver), the syndicate of banks may terminate the commitments allocated to the party that does not meet its covenants. Additionally, in such event, certain of Cat Financial’s other lenders under other loan agreements where similar financial covenants or cross default provisions are applicable may, at their election, choose to pursue remedies under those loan agreements, including accelerating the repayment of outstanding borrowings. At December 31, 2021, there were no borrowings under the Credit Facility.

Profit per share

Profit per share	12 Months Ended
Profit per share	Dec. 31, 2021
Earnings Per Share [Abstract]
Profit per share	Profit per share Computations of profit per share: (Dollars in millions except per share data) 2021 2020 2019 Profit for the period (A) 1 $ 6,489 $ 2,998 $ 6,093 Determination of shares (in millions): Weighted average number of common shares outstanding (B) 544.0 544.1 561.6 Shares issuable on exercise of stock awards, net of shares assumed to be purchased out of proceeds at average market price 4.5 4.5 5.9 Average common shares outstanding for fully diluted computation (C) 2 548.5 548.6 567.5 Profit per share of common stock: Assuming no dilution (A/B) $ 11.93 $ 5.51 $ 10.85 Assuming full dilution (A/C) 2 $ 11.83 $ 5.46 $ 10.74 Shares outstanding as of December 31 (in millions) 535.9 545.3 550.1 1 Profit attributable to common shareholders. 2 Diluted by assumed exercise of stock-based compensation awards using the treasury stock method. For the year ended December 31, 2021, 2020 and 2019, we excluded 1.1 million, 4.6 million and 3.0 million outstanding stock options, respectively, from the computation of diluted earnings per share because the effect would have been antidilutive. In July 2018, the Board approved a share repurchase authorization (the 2018 Authorization) of up to $10.0 billion of Caterpillar common stock effective January 1, 2019, with no expiration. As of December 31, 2021, approximately $2.1 billion remained available under the 2018 Authorization. During 2021, 2020 and 2019, we repurchased 13.0 million, 10.1 million and 30.6 million shares of Caterpillar common stock, respectively, at an aggregate cost of $2.7 billion, $1.3 billion and $4.0 billion respectively. We made these purchases through a combination of accelerated stock repurchase agreements with third-party financial institutions and open market transactions.

Accumulated other comprehensive

Accumulated other comprehensive income (loss)	12 Months Ended
Accumulated other comprehensive income (loss)	Dec. 31, 2021
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	Accumulated other comprehensive income (loss) We present comprehensive income and its components in Statement 2. Changes in the balances for each component of Accumulated other comprehensive income (loss) were as follows: (Millions of dollars) 2021 2020 2019 Foreign currency translation: Beginning balance $ (910) $ (1,487) $ (1,601) Adjustments to adopt new accounting guidance related to reclassification of certain tax effects from AOCI — — 98 Balance at January 1 (910) (1,487) (1,503) Gains (losses) on foreign currency translation (559) 513 21 Less: Tax provision /(benefit) 41 (42) 5 Net gains (losses) on foreign currency translation (600) 555 16 (Gains) losses reclassified to earnings 2 22 — Less: Tax provision /(benefit) — — — Net (gains) losses reclassified to earnings 2 22 — Other comprehensive income (loss), net of tax (598) 577 16 Ending balance $ (1,508) $ (910) $ (1,487) Pension and other postretirement benefits Beginning balance $ (32) $ (3) $ 12 Adjustments to adopt new accounting guidance related to reclassification of certain tax effects from AOCI — — 19 Balance at January 1 (32) (3) 31 Current year prior service credit (cost) — (1) (4) Less: Tax provision /(benefit) — — — Net current year prior service credit (cost) — (1) (4) Amortization of prior service (credit) cost (40) (38) (40) Less: Tax provision /(benefit) (10) (10) (10) Net amortization of prior service (credit) cost (30) (28) (30) Other comprehensive income (loss), net of tax (30) (29) (34) Ending balance $ (62) $ (32) $ (3) Derivative financial instruments Beginning balance $ — $ (97) $ (80) Adjustments to adopt new accounting guidance related to reclassification of certain tax effects from AOCI — — (9) Balance at January 1 — (97) (89) Gains (losses) deferred 195 (116) 57 Less: Tax provision /(benefit) 21 (25) 14 Net gains (losses) deferred 174 (91) 43 (Gains) losses reclassified to earnings (196) 241 (66) Less: Tax provision /(benefit) (19) 53 (15) Net (gains) losses reclassified to earnings (177) 188 (51) Other comprehensive income (loss), net of tax (3) 97 (8) Ending balance $ (3) $ — $ (97) 2021 2020 2019 Available-for-sale securities Beginning balance $ 54 $ 20 $ (15) Adjustments to adopt recognition and measurement of financial assets and liabilities guidance — — — Balance at January 1 54 20 (15) Gains (losses) deferred (39) 45 45 Less: Tax provision /(benefit) (8) 10 10 Net gains (losses) deferred (31) 35 35 (Gains) losses reclassified to earnings (4) (1) — Less: Tax provision /(benefit) (1) — — Net (gains) losses reclassified to earnings (3) (1) — Other comprehensive income (loss), net of tax (34) 34 35 Ending balance $ 20 $ 54 $ 20 Total AOCI Ending Balance at December 31 $ (1,553) $ (888) $ (1,567)

Fair value disclosures

Fair value disclosures	12 Months Ended
Fair value disclosures	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Fair value disclosures	Fair value disclosures A. Fair value measurements The guidance on fair value measurements defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants. This guidance also specifies a fair value hierarchy based upon the observability of inputs used in valuation techniques. Observable inputs (highest level) reflect market data obtained from independent sources, while unobservable inputs (lowest level) reflect internally developed market assumptions. In accordance with this guidance, fair value measurements are classified under the following hierarchy: • Level 1 – Quoted prices for identical instruments in active markets. • Level 2 – Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs or significant value-drivers are observable in active markets. • Level 3 – Model-derived valuations in which one or more significant inputs or significant value-drivers are unobservable. When available, we use quoted market prices to determine fair value, and we classify such measurements within Level 1. In some cases where market prices are not available, we make use of observable market based inputs to calculate fair value, in which case the measurements are classified within Level 2. If quoted or observable market prices are not available, fair value is based upon valuations in which one or more significant inputs are unobservable, including internally developed models that use, where possible, current market-based parameters such as interest rates, yield curves and currency rates. These measurements are classified within Level 3. We classify fair value measurements according to the lowest level input or value-driver that is significant to the valuation. We may therefore classify a measurement within Level 3 even though there may be significant inputs that are readily observable. Fair value measurement includes the consideration of nonperformance risk. Nonperformance risk refers to the risk that an obligation (either by a counterparty or Caterpillar) will not be fulfilled. For financial assets traded in an active market, the nonperformance risk is included in the market price. For certain other financial assets and liabilities, our fair value calculations have been adjusted accordingly. Investments in debt and equity securities We have investments in certain debt and equity securities, primarily at Insurance Services, that are recorded at fair value. Fair values for our U.S. treasury bonds and large capitalization value and smaller company growth equity securities are based upon valuations for identical instruments in active markets. Fair values for other government bonds, corporate bonds and mortgage-backed debt securities are based upon models that take into consideration such market-based factors as recent sales, risk-free yield curves and prices of similarly rated bonds. We also have investments in time deposits classified as held-to-maturity debt securities. The fair value of these investments is based upon valuations observed in less active markets than Level 1. These investments have a maturity of less than one year and are recorded at amortized costs, which approximate fair value. In addition, Insurance Services has an equity investment in a real estate investment trust (REIT) which is recorded at fair value based on the net asset value (NAV) of the investment and is not classified within the fair value hierarchy. See Note 11 for additional information on our investments in debt and equity securities. Derivative financial instruments The fair value of interest rate contracts is primarily based on a standard industry accepted valuation model that utilizes the appropriate market-based forward swap curves and zero-coupon interest rates to determine discounted cash flows. The fair value of foreign currency and commodity forward, option and cross currency contracts is based on standard industry accepted valuation models that discount cash flows resulting from the differential between the contract price and the market-based forward rate. See Note 4 for additional information. Assets and liabilities measured on a recurring basis at fair value, primarily related to Financial Products, included in Statement 3 as of December 31, 2021 and 2020 were as follows: December 31, 2021 (Millions of dollars) Level 1 Level 2 Level 3 Measured at NAV Total Assets Debt securities Government debt U.S. treasury bonds $ 10 $ — $ — $ — $ 10 Other U.S. and non-U.S. government bonds — 61 — — 61 Corporate bonds Corporate bonds — 1,046 — — 1,046 Asset-backed securities — 176 — — 176 Mortgage-backed debt securities U.S. governmental agency — 325 — — 325 Residential — 4 — — 4 Commercial — 99 — — 99 Total debt securities 10 1,711 — — 1,721 Equity securities Large capitalization value 217 — — — 217 Smaller company growth 98 — — — 98 REIT — — — 167 167 Total equity securities 315 — — 167 482 Derivative financial instruments - assets Foreign currency contracts - net — 168 — — 168 Interest rate contracts - net — 23 — — 23 Commodity contracts - net — 21 — — 21 Total Assets $ 325 $ 1,923 $ — $ 167 $ 2,415 December 31, 2020 (Millions of dollars) Level 1 Level 2 Level 3 Measured at NAV Total Assets Debt securities Government debt U.S. treasury bonds $ 10 $ — $ — $ — $ 10 Other U.S. and non-U.S. government bonds — 59 — — 59 Corporate bonds Corporate bonds — 1,012 — — 1,012 Asset-backed securities — 159 — — 159 Mortgage-backed debt securities U.S. governmental agency — 374 — — 374 Residential — 5 — — 5 Commercial — 64 — — 64 Total debt securities 10 1,673 — — 1,683 Equity securities Large capitalization value 199 — — — 199 Smaller company growth 58 — — — 58 REIT — — — 148 148 Total equity securities 257 — — 148 405 Derivative financial instruments - assets Interest rate contracts - net — 58 — — 58 Commodity contracts - net — 37 — — 37 Total Assets $ 267 $ 1,768 $ — $ 148 $ 2,183 Liabilities Derivative financial instruments - liabilities Foreign currency contracts - net $ — $ 112 $ — $ — $ 112 Total Liabilities $ — $ 112 $ — $ — $ 112 In addition to the amounts above, certain Cat Financial loans are subject to measurement at fair value on a nonrecurring basis and are classified as Level 3 measurements. A loan is measured at fair value when management determines that collection of contractual amounts due is not probable and the loan is individually evaluated. In these cases, an allowance for credit losses may be established based either on the present value of expected future cash flows discounted at the receivables’ effective interest rate, the fair value of the collateral for collateral-dependent receivables, or the observable market price of the receivable. In determining collateral value, Cat Financial estimates the current fair market value of the collateral less selling costs. Cat Financial had loans carried at fair value of $100 million and $243 million as of December 31, 2021 and 2020, respectively. B. Fair values of financial instruments In addition to the methods and assumptions we use to record the fair value of financial instruments as discussed in the Fair value measurements section above, we used the following methods and assumptions to estimate the fair value of our financial instruments: Cash and cash equivalents Carrying amount approximates fair value. We classify cash and cash equivalents as Level 1. See Statement 3. Restricted cash and short-term investments Carrying amount approximates fair value. We include restricted cash and short-term investments in Prepaid expenses and other current assets in Statement 3. We classify these instruments as Level 1 except for time deposits which are Level 2. See Note 11 for additional information. Finance receivables We estimate fair value by discounting the future cash flows using current rates, representative of receivables with similar remaining maturities. Wholesale inventory receivables We estimate fair value by discounting the future cash flows using current rates, representative of receivables with similar remaining maturities. Short-term borrowings Carrying amount approximates fair value. We classify short-term borrowings as Level 1. See Note 13 for additional information. Long-term debt We estimate fair value for fixed and floating rate debt based on quoted market prices. Guarantees The fair value of guarantees is based upon our estimate of the premium a market participant would require to issue the same guarantee in a stand-alone arms-length transaction with an unrelated party. If quoted or observable market prices are not available, fair value is based upon internally developed models that utilize current market-based assumptions. We classify guarantees as Level 3. See Note 21 for additional information. Our financial instruments not carried at fair value were as follows: 2021 2020 (Millions of dollars) Carrying Fair Carrying Fair Fair Value Levels Reference Assets at December 31, Finance receivables–net (excluding finance leases 1 ) $ 13,837 $ 13,836 $ 14,028 $ 14,357 3 Notes 7 & 19 Wholesale inventory receivables–net (excluding finance leases 1 ) 773 753 929 911 3 Notes 7 & 19 Liabilities at December 31, Long-term debt (including amounts due within one year): Machinery, Energy & Transportation 9,791 12,420 11,169 14,549 2 Note 14 Financial Products 22,594 22,797 23,979 24,614 2 Note 14 1 Represents finance leases and failed sale leasebacks of $8,083 million and $7,961 million at December 31, 2021 and 2020, respectively.

Concentration of credit risk

Concentration of credit risk	12 Months Ended
Concentration of credit risk	Dec. 31, 2021
Risks and Uncertainties [Abstract]
Concentration of credit risk	Concentration of credit risk Financial instruments with potential credit risk consist primarily of trade and finance receivables and short-term and long-term investments. Additionally, to a lesser extent, we have a potential credit risk associated with counterparties to derivative contracts. Trade receivables are primarily short-term receivables from independently owned and operated dealers and customers which arise in the normal course of business. We perform regular credit evaluations of our dealers and customers. Collateral generally is not required, and the majority of our trade receivables are unsecured. We do, however, when deemed necessary, make use of various devices such as security agreements and letters of credit to protect our interests. No single dealer or customer represents a significant concentration of credit risk. Finance receivables and wholesale inventory receivables primarily represent receivables under installment sales contracts, receivables arising from leasing transactions and notes receivable. We typically maintain a security interest in retail financed equipment and, in some instances, wholesale financed equipment. We also typically require physical damage insurance coverage on financed equipment. No single customer or dealer represented a significant concentration of credit risk. Short-term and long-term investments are held with high quality institutions and, by policy, the amount of credit exposure to any one institution is limited. Long-term investments, primarily included in Other assets in Statement 3, are comprised primarily of available-for-sale debt securities and equity securities at Insurance Services. For derivative contracts, collateral is generally not required of the counterparties or of our company. The company generally enters into International Swaps and Derivatives Association (ISDA) master netting agreements within ME&T and Financial Products that permit the net settlement of amounts owed under their respective derivative contracts. Our exposure to credit loss in the event of nonperformance by the counterparties is limited to only those gains that we have recorded, but for which we have not yet received cash payment. The master netting agreements reduce the amount of loss the company would incur should the counterparties fail to meet their obligations. At December 31, 2021 and 2020, the maximum exposure to credit loss was $342 million and $281 million, respectively, before the application of any master netting agreements. Please refer to Note 18 above for fair value information.

Leases

Leases	12 Months Ended
Leases	Dec. 31, 2021
Leases [Abstract]
A. Lessee Disclosure	Leases A. Lessee arrangements We lease certain property, information technology equipment, warehouse equipment, vehicles and other equipment through operating leases. We recognize a lease liability and corresponding right-of-use asset based on the present value of lease payments. To determine the present value of lease payments for most of our leases, we use our incremental borrowing rate based on information available on the lease commencement date. For certain property and information technology equipment leases, we have elected to separate payments for lease components from non-lease components. For all other leases, we have elected not to separate payments for lease and non-lease components. Our lease agreements may include options to extend or terminate the lease. When it is reasonably certain that we will exercise that option, we have included the option in the recognition of right-of-use assets and lease liabilities. We have elected not to recognize right-of-use assets or lease liabilities for leases with a term of twelve months or less. Our finance leases are not significant and therefore are not included in the following disclosures. The components of lease costs were as follows: (Millions of dollars) Year Ended December 31, 2021 2020 Operating lease cost $ 214 $ 204 Short-term lease cost $ 46 $ 50 We recognize operating lease right-of-use assets in Other assets in Statement 3. We recognize the operating lease liabilities in Other current liabilities and Other liabilities. Supplemental information related to leases was as follows: (Millions of dollars) December 31, 2021 December 31, 2020 Operating Leases Other assets $ 625 $ 603 Other current liabilities $ 158 $ 163 Other liabilities $ 484 $ 457 Weighted average remaining lease term Operating leases 7 years 7 years Weighted average discount rates Operating leases 2 % 2 % Maturities of operating lease liabilities were as follows: (Millions of dollars) December 31, 2021 Amounts Due In 2022 $ 165 2023 126 2024 94 2025 69 2026 51 Thereafter 190 Total lease payments 695 Less: Imputed interest (53) Total $ 642 Supplemental cash flow information related to leases was as follows: (Millions of dollars) Year ended December 31 2021 2020 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 206 $ 201 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 238 $ 178
B. Lessor Disclosure	B. Lessor arrangements We lease Caterpillar machinery, engines and other equipment to customers and dealers around the world, primarily through Cat Financial. Cat Financial leases to customers primarily through sales-type (non-tax) leases, where the lessee for tax purposes is considered to be the owner of the equipment during the term of the lease. Cat Financial also offers tax leases that are classified as either operating or direct finance leases for financial accounting purposes, depending on the characteristics of the lease. For tax purposes, Cat Financial is considered the owner of the equipment. Our lease agreements may include options for the lessee to purchase the underlying asset at the end of the lease term for either a stated fixed price or fair market value. We determine the residual value of Cat Financial’s leased equipment based on its estimated end-of-term market value. We estimate the residual value of leased equipment at the inception of the lease based on a number of factors, including historical wholesale market sales prices, past remarketing experience and any known significant market/product trends. We also consider the following critical factors in our residual value estimates: lease term, market size and demand, total expected hours of usage, machine configuration, application, location, model changes, quantities, third-party residual guarantees and contractual customer purchase options. During the term of our leases, we monitor residual values. For operating leases, we record adjustments to depreciation expense reflecting changes in residual value estimates prospectively on a straight-line basis. For finance leases, we recognize residual value adjustments through a reduction of finance revenue over the remaining lease term. See Note 7 for contractual maturities of finance lease receivables (sales-type and direct finance leases). The carrying amount of equipment leased to others, included in Property, plant and equipment - net in Statement 3, under operating leases was as follows: December 31, (Millions of dollars) 2021 2020 Equipment leased to others - at original cost $ 5,733 $ 6,077 Less: Accumulated depreciation (1,870) (2,035) Equipment leased to others - net $ 3,863 $ 4,042 Payments due for operating leases as of December 31, 2021, were as follows: (Millions of dollars) 2022 2023 2024 2025 2026 Thereafter Total $761 $478 $272 $145 $56 $28 $1,740 Revenues from finance and operating leases, primarily included in Revenues of Financial Products on Statement 1, were as follows: (Millions of dollars) Year ended December 31 2021 2020 Finance lease revenue $ 485 $ 492 Operating lease revenue 1,128 1,124 Total $ 1,613 $ 1,616

Guarantees and product warranty

Guarantees and product warranty	12 Months Ended
Guarantees and product warranty	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Guarantees and product warranty	Guarantees and product warranty Caterpillar dealer performance guarantees We have provided an indemnity to a third-party insurance company for potential losses related to performance bonds issued on behalf of Caterpillar dealers. The bonds have varying terms and are issued to insure governmental agencies against nonperformance by certain dealers. We also provided guarantees to third-parties related to the performance of contractual obligations by certain Caterpillar dealers. These guarantees have varying terms and cover potential financial losses incurred by the third parties resulting from the dealers’ nonperformance. In 2016, we provided a guarantee to an end user related to the performance of contractual obligations by a Caterpillar dealer. Under the guarantee, which expires in 2025, non-performance by the Caterpillar dealer could require Caterpillar to satisfy the contractual obligations by providing goods, services or financial compensation to the end user up to an annual designated cap. Supplier consortium performance guarantee We have provided a guarantee to a customer in Europe related to the performance of contractual obligations by a supplier consortium to which one of our Caterpillar subsidiaries is a member. The guarantee covers potential damages incurred by the customer resulting from the supplier consortium's non-performance. The damages are capped except for failure of the consortium to meet certain obligations outlined in the contract in the normal course of business. The guarantee will expire when the supplier consortium performs all of its contractual obligations, which is expected to be completed in 2022. We have dealer performance guarantees and third-party performance guarantees that do not limit potential payment to end users related to indemnities and other commercial contractual obligations. In addition, we have entered into contracts involving industry standard indemnifications that do not limit potential payment. For these unlimited guarantees, we are unable to estimate a maximum potential amount of future payments that could result from claims made. No significant loss has been experienced or is anticipated under any of these guarantees. At both December 31, 2021 and 2020, the related recorded liability was $5 million. The maximum potential amount of future payments (undiscounted and without reduction for any amounts that may possibly be recovered under recourse or collateralized provisions) we could be required to make under the guarantees at December 31 was as follows: (Millions of dollars) 2021 2020 Caterpillar dealer performance guarantees $ 747 $ 993 Supplier consortium performance guarantee 242 258 Other guarantees 232 234 Total guarantees $ 1,221 $ 1,485 Cat Financial provides guarantees to purchase certain loans of Caterpillar dealers from a special-purpose corporation (SPC) that qualifies as a variable interest entity. The purpose of the SPC is to provide short-term working capital loans to Caterpillar dealers. This SPC issues commercial paper and uses the proceeds to fund its loan program. Cat Financial receives a fee for providing this guarantee. Cat Financial is the primary beneficiary of the SPC as its guarantees result in Cat Financial having both the power to direct the activities that most significantly impact the SPC’s economic performance and the obligation to absorb losses, and therefore Cat Financial has consolidated the financial statements of the SPC. As of December 31, 2021 and 2020, the SPC’s assets of $888 million and $1,026 million, respectively, were primarily comprised of loans to dealers, and the SPC’s liabilities of $888 million and $1,025 million, respectively, were primarily comprised of commercial paper. The assets of the SPC are not available to pay Cat Financial’s creditors. Cat Financial may be obligated to perform under the guarantee if the SPC experiences losses. No loss has been experienced or is anticipated under this loan purchase agreement. Cat Financial has commitments to extend credit to customers and Caterpillar dealers through lines of credit and other pre-approved credit arrangements. Cat Financial applies the same credit policies and approval process for these commitments to extend credit as we do for other financing. Collateral is not required for these commitments, but if credit is extended, collateral may be required upon funding. The amount of unused commitments to extend credit to Caterpillar dealers was $10.71 billion at December 31, 2021. Cat Financial generally has the right to unconditionally cancel, alter, or amend the terms of these dealer commitments at any time. The amount of unused commitments to extend credit to customers was $641 million at December 31, 2021. A significant portion of these commitments is not expected to be fully drawn upon; therefore, the total commitment amounts do not represent a future cash requirement. We determine our product warranty liability by applying historical claim rate experience to the current field population and dealer inventory. Generally, we base historical claim rates on actual warranty experience for each product by machine model/engine size by customer or dealer location (inside or outside North America). We develop specific rates for each product shipment month and update them monthly based on actual warranty claim experience. The reconciliation of the change in our product warranty liability balances for the years ended December 31 was as follows: (Millions of dollars) 2021 2020 Warranty liability, beginning of period $ 1,612 $ 1,541 Reduction in liability (payments) (854) (897) Increase in liability (new warranties) 931 968 Warranty liability, end of period $ 1,689 $ 1,612

Environmental and legal matters

Environmental and legal matters	12 Months Ended
Environmental and legal matters	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Environmental and legal matters	Environmental and legal matters The Company is regulated by federal, state and international environmental laws governing its use, transport and disposal of substances and control of emissions. In addition to governing our manufacturing and other operations, these laws often impact the development of our products, including, but not limited to, required compliance with air emissions standards applicable to internal combustion engines. We have made, and will continue to make, significant research and development and capital expenditures to comply with these emissions standards. We are engaged in remedial activities at a number of locations, often with other companies, pursuant to federal and state laws. When it is probable we will pay remedial costs at a site, and those costs can be reasonably estimated, we accrue the investigation, remediation, and operating and maintenance costs against our earnings. We accrue costs based on consideration of currently available data and information with respect to each individual site, including available technologies, current applicable laws and regulations, and prior remediation experience. Where no amount within a range of estimates is more likely, we accrue the minimum. Where multiple potentially responsible parties are involved, we consider our proportionate share of the probable costs. In formulating the estimate of probable costs, we do not consider amounts expected to be recovered from insurance companies or others. We reassess these accrued amounts on a quarterly basis. The amount recorded for environmental remediation is not material and is included in Accrued expenses. We believe there is no more than a remote chance that a material amount for remedial activities at any individual site, or at all the sites in the aggregate, will be required. On January 27, 2020, the Brazilian Federal Environmental Agency (“IBAMA”) issued Caterpillar Brasil Ltda a notice of violation regarding allegations around the requirements for use of imported oils at the Piracicaba, Brazil facility. We have instituted processes to address the allegations. While we are still discussing resolution of these allegations with IBAMA, the initial notice from IBAMA included a proposed fine of approximately $300,000. We do not expect this fine or our response to address the allegations to have a material adverse effect on the Company's consolidated results of operations, financial position or liquidity. On January 7, 2015, the Company received a grand jury subpoena from the U.S. District Court for the Central District of Illinois. The subpoena requested documents and information from the Company relating to, among other things, financial information concerning U.S. and non-U.S. Caterpillar subsidiaries (including undistributed profits of non-U.S. subsidiaries and the movement of cash among U.S. and non-U.S. subsidiaries). The Company has received additional subpoenas relating to this investigation requesting additional documents and information relating to, among other things, the purchase and resale of replacement parts by Caterpillar Inc. and non-U.S. Caterpillar subsidiaries, dividend distributions of certain non-U.S. Caterpillar subsidiaries, and Caterpillar SARL (CSARL) and related structures. On March 2-3, 2017, agents with the Department of Commerce, the Federal Deposit Insurance Corporation and the Internal Revenue Service executed search and seizure warrants at three facilities of the Company in the Peoria, Illinois area, including its former corporate headquarters. The warrants identify, and agents seized, documents and information related to, among other things, the export of products from the United States, the movement of products between the United States and Switzerland, the relationship between Caterpillar Inc. and CSARL, and sales outside the United States. It is the Company’s understanding that the warrants, which concern both tax and export activities, are related to the ongoing grand jury investigation. The Company is continuing to cooperate with this investigation. The Company is unable to predict the outcome or reasonably estimate any potential loss; however, we currently believe that this matter will not have a material adverse effect on the Company’s consolidated results of operations, financial position or liquidity. In addition, we are involved in other unresolved legal actions that arise in the normal course of business. The most prevalent of these unresolved actions involve disputes related to product design, manufacture and performance liability (including claimed asbestos exposure), contracts, employment issues, environmental matters, intellectual property rights, taxes (other than income taxes) and securities laws. The aggregate range of reasonably possible losses in excess of accrued liabilities, if any, associated with these unresolved legal actions is not material. In some cases, we cannot reasonably estimate a range of loss because there is insufficient information regarding the matter. However, we believe there is no more than a remote chance that any liability arising from these matters would be material. Although it is not possible to predict with certainty the outcome of these unresolved legal actions, we believe that these actions will not individually or in the aggregate have a material adverse effect on our consolidated results of operations, financial position or liquidity.

Segment Information

Segment Information	12 Months Ended
Segment Information	Dec. 31, 2021
Segment Reporting [Abstract]
Segment information	Segment information A. Basis for segment information Our Executive Office is comprised of a Chief Executive Officer (CEO), four Group Presidents, a Chief Financial Officer (CFO), a Chief Legal Officer and General Counsel and a Chief Human Resources Officer. The Group Presidents and CFO are accountable for a related set of end-to-end businesses that they manage. The Chief Legal Officer and General Counsel leads the Law, Security and Public Policy Division. The Chief Human Resources Officer leads the Human Resources Organization. The CEO allocates resources and manages performance at the Group President/CFO level. As such, the CEO serves as our Chief Operating Decision Maker, and operating segments are primarily based on the Group President/CFO reporting structure. Three of our operating segments, Construction Industries, Resource Industries and Energy & Transportation are led by Group Presidents. One operating segment, Financial Products, is led by the CFO who also has responsibility for Corporate Services. Corporate Services is a cost center primarily responsible for the performance of certain support functions globally and to provide centralized services; it does not meet the definition of an operating segment. One Group President leads one smaller operating segment that is included in the All Other operating segment. The Law, Security and Public Policy Division and the Human Resources Organization are cost centers and do not meet the definition of an operating segment. B. Description of segments We have five operating segments, of which four are reportable segments. Following is a brief description of our reportable segments and the business activities included in the All Other operating segment: Construction Industries : A segment primarily responsible for supporting customers using machinery in infrastructure and building construction applications. Responsibilities include business strategy, product design, product management and development, manufacturing, marketing and sales and product support. The product portfolio includes asphalt pavers; backhoe loaders; compactors; cold planers; compact track and multi-terrain loaders; mini, small, medium and large track excavators; motor graders; pipelayers; road reclaimers; skid steer loaders; telehandlers; small and medium track-type tractors; track-type loaders; utility vehicles; wheel excavators; compact, small and medium wheel loaders; and related parts and work tools. Inter-segment sales are a source of revenue for this segment. Resource Industries : A segment primarily responsible for supporting customers using machinery in mining, heavy construction and quarry and aggregates. Responsibilities include business strategy, product design, product management and development, manufacturing, marketing and sales and product support. The product portfolio includes large track-type tractors; large mining trucks; hard rock vehicles; longwall miners; electric rope shovels; draglines; hydraulic shovels; rotary drills; large wheel loaders; off-highway trucks; articulated trucks; wheel tractor scrapers; wheel dozers; landfill compactors; soil compactors; select work tools; machinery components; electronics and control systems and related parts. In addition to equipment, Resource Industries also develops and sells technology products and services to provide customers fleet management, equipment management analytics, autonomous machine capabilities, safety services and mining performance solutions. Resource Industries also manages areas that provide services to other parts of the company, including integrated manufacturing, research and development for drivetrains, hydraulic systems, electronics and software for Cat machines and engines. Inter-segment sales are a source of revenue for this segment. Energy & Transportation : A segment primarily responsible for supporting customers using reciprocating engines, turbines, diesel-electric locomotives and related services across industries serving Oil and Gas, Power Generation, Industrial and Transportation applications, including marine- and rail-related businesses. Responsibilities include business strategy, product design, product management and development, manufacturing, marketing and sales and product support. The product and services portfolio includes turbines, centrifugal gas compressors, and turbine-related services; reciprocating engine-powered generator sets; integrated systems used in the electric power generation industry; reciprocating engines and integrated systems and solutions for the marine and oil and gas industries; reciprocating engines supplied to the industrial industry as well as Cat machinery; and diesel-electric locomotives and components and other rail-related products and services, including remanufacturing and leasing. Responsibilities also include the remanufacturing of Caterpillar reciprocating engines and components and remanufacturing services for other companies; and product support of on-highway vocational trucks for North America. Inter-segment sales are a source of revenue for this segment. Financial Products Segment : Provides financing alternatives to customers and dealers around the world for Caterpillar products, as well as financing for vehicles, power generation facilities and marine vessels that, in most cases, incorporate Caterpillar products. Financing plans include operating and finance leases, installment sale contracts, repair/rebuild financing, working capital loans and wholesale financing plans. The segment also provides insurance and risk management products and services that help customers and dealers manage their business risk. Insurance and risk management products offered include physical damage insurance, inventory protection plans, extended service coverage and maintenance plans for machines and engines, and dealer property and casualty insurance. The various forms of financing, insurance and risk management products offered to customers and dealers help support the purchase and lease of Caterpillar equipment. The segment also earns revenues from ME&T, but the related costs are not allocated to operating segments. Financial Products’ segment profit is determined on a pretax basis and includes other income/expense items. All Other operating segment : Primarily includes activities such as: business strategy; product management and development; manufacturing and sourcing of filters and fluids, undercarriage, ground-engaging tools, fluid transfer products, precision seals, rubber sealing and connecting components primarily for Caterpillar products; parts distribution; integrated logistics solutions; distribution services responsible for dealer development and administration, including one wholly owned dealer in Japan; dealer portfolio management and ensuring the most efficient and effective distribution of machines, engines and parts; brand management and marketing strategy; and digital investments for new customer and dealer solutions that integrate data analytics with state-of-the-art digital technologies while transforming the buying experience. Results for the All Other operating segment are included as a reconciling item between reportable segments and consolidated external reporting. C. Segment measurement and reconciliations There are several methodology differences between our segment reporting and our external reporting. The following is a list of the more significant methodology differences: • ME&T segment net assets generally include inventories, receivables, property, plant and equipment, goodwill, intangibles, accounts payable and customer advances. We generally manage at the corporate level liabilities other than accounts payable and customer advances, and we do not include these in segment operations. Financial Products Segment assets generally include all categories of assets. • We value segment inventories and cost of sales using a current cost methodology. • We amortize goodwill allocated to segments using a fixed amount based on a 20-year useful life. This methodology difference only impacts segment assets. We do not include goodwill amortization expense in segment profit. In addition, we have allocated to segments only a portion of goodwill for certain acquisitions made in 2011 or later. • We generally manage currency exposures for ME&T at the corporate level and do not include in segment profit the effects of changes in exchange rates on results of operations within the year. We report the net difference created in the translation of revenues and costs between exchange rates used for U.S. GAAP reporting and exchange rates used for segment reporting as a methodology difference. • We do not include stock-based compensation expense in segment profit. • Postretirement benefit expenses are split; segments are generally responsible for service costs, with the remaining elements of net periodic benefit cost included as a methodology difference. • We determine ME&T segment profit on a pretax basis and exclude interest expense and most other income/expense items. We determine Financial Products Segment profit on a pretax basis and include other income/expense items. Reconciling items are created based on accounting differences between segment reporting and our consolidated external reporting. Please refer to pages 127 to 129 for financial information regarding significant reconciling items. Most of our reconciling items are self-explanatory given the above explanations. For the reconciliation of profit, we have grouped the reconciling items as follows: • Corporate costs: These costs are related to corporate requirements primarily for compliance and legal functions for the benefit of the entire organization. • Restructuring costs: May include costs for employee separation, long-lived asset impairments and contract terminations. These costs are included in Other operating (income) expenses except for defined-benefit plan curtailment losses and special termination benefits, which are included in Other income (expense). Restructuring costs also include other exit-related costs, which may consist of accelerated depreciation, inventory write-downs, building demolition, equipment relocation and project management costs and LIFO inventory decrement benefits from inventory liquidations at closed facilities, all of which are primarily included in Cost of goods sold. Only certain restructuring costs in 2020 and 2019 were excluded from segment profit. See Note 25 for more information. • Methodology differences: See previous discussion of significant accounting differences between segment reporting and consolidated external reporting. • Timing: Timing differences in the recognition of costs between segment reporting and consolidated external reporting. For example, we report certain costs on the cash basis for segment reporting and the accrual basis for consolidated external reporting. For the years ended December 31, 2021, 2020 and 2019, 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 2021 Construction Industries $ 9,676 $ 1,913 $ 4,858 $ 5,547 $ 21,994 $ 112 $ 22,106 Resource Industries 2,987 1,724 1,987 2,804 $ 9,502 461 9,963 Energy & Transportation 7,611 1,233 4,908 2,918 $ 16,670 3,617 20,287 Financial Products Segment 1,935 265 402 471 $ 3,073 1 — 3,073 Total sales and revenues from reportable segments 22,209 5,135 12,155 11,740 51,239 4,190 55,429 All Other operating segment 56 2 18 69 145 366 511 Corporate Items and Eliminations (242) (51) (36) (84) (413) (4,556) (4,969) Total Sales and Revenues $ 22,023 $ 5,086 $ 12,137 $ 11,725 $ 50,971 $ — $ 50,971 2020 Construction Industries $ 7,365 $ 1,031 $ 3,466 $ 5,014 $ 16,876 $ 42 $ 16,918 Resource Industries 2,286 1,253 1,570 2,337 7,446 460 7,906 Energy & Transportation 6,843 932 4,448 2,441 14,664 2,806 17,470 Financial Products Segment 1,930 257 392 465 3,044 1 — 3,044 Total sales and revenues from reportable segments 18,424 3,473 9,876 10,257 42,030 3,308 45,338 All Other operating segment 27 4 26 56 113 354 467 Corporate Items and Eliminations (237) (45) (44) (69) (395) (3,662) (4,057) Total Sales and Revenues $ 18,214 $ 3,432 $ 9,858 $ 10,244 $ 41,748 $ — $ 41,748 2019 Construction Industries $ 11,455 $ 1,533 $ 4,012 $ 5,556 $ 22,556 $ 93 $ 22,649 Resource Industries 3,632 1,533 1,836 2,812 9,813 463 10,276 Energy & Transportation 8,864 1,389 4,994 3,238 18,485 3,612 22,097 Financial Products Segment 2,235 299 408 492 3,434 1 — 3,434 Total sales and revenues from reportable segments 26,186 4,754 11,250 12,098 54,288 4,168 58,456 All Other operating segment 25 7 28 67 127 373 500 Corporate Items and Eliminations (426) (51) (55) (83) (615) (4,541) (5,156) Total Sales and Revenues $ 25,785 $ 4,710 $ 11,223 $ 12,082 $ 53,800 $ — $ 53,800 1 Includes revenues from Construction Industries, Resource Industries, Energy & Transportation and All Other operating segment of $351 million , $362 million and $524 million in the years ended December 31, 2021, 2020 and 2019, respectively. For the years ended December 31, 2021, 2020 and 2019, Energy & Transportation segment sales by end user application were as follows: Energy & Transportation External Sales (Millions of dollars) 2021 2020 2019 Oil and gas $ 4,460 $ 3,701 $ 5,205 Power generation 4,292 3,963 4,474 Industrial 3,612 2,945 3,749 Transportation 4,306 4,055 5,057 Energy & Transportation External Sales $ 16,670 $ 14,664 $ 18,485 Reconciliation of Consolidated profit before taxes: (Millions of dollars) 2021 2020 2019 Profit from reportable segments: Construction Industries $ 3,706 $ 2,373 $ 3,931 Resource Industries 1,291 896 1,629 Energy & Transportation 2,768 2,405 3,910 Financial Products Segment 908 590 832 Total profit from reportable segments 8,673 6,264 10,302 Profit from All Other operating segment (14) 28 4 Cost centers (4) (4) (6) Corporate costs (699) (517) (607) Timing (263) (106) (93) Restructuring costs (90) (241) (207) Methodology differences: Inventory/cost of sales 122 4 (19) Postretirement benefit income (expense) 1,171 (173) (401) Stock-based compensation expense (199) (202) (205) Financing costs (449) (444) (248) Currency 258 (266) (175) Other income/expense methodology differences (267) (322) (481) Other methodology differences (35) (26) (52) Total consolidated profit before taxes $ 8,204 $ 3,995 $ 7,812 Reconciliation of Assets: (Millions of dollars) December 31, 2021 2020 Assets from reportable segments: Construction Industries $ 4,547 $ 4,259 Resource Industries 5,962 6,035 Energy & Transportation 9,253 8,582 Financial Products Segment 34,860 34,278 Total assets from reportable segments 54,622 53,154 Assets from All Other operating segment 1,678 1,717 Items not included in segment assets: Cash and cash equivalents 8,428 8,822 Deferred income taxes 1,735 1,413 Goodwill and intangible assets 4,859 4,847 Property, plant and equipment – net and other assets 4,056 2,833 Inventory methodology differences (2,656) (2,536) Liabilities included in segment assets 10,777 8,466 Other (706) (392) Total assets $ 82,793 $ 78,324 Reconciliation of Depreciation and amortization: (Millions of dollars) 2021 2020 2019 Depreciation and amortization from reportable segments: Construction Industries $ 237 $ 245 $ 302 Resource Industries 403 418 450 Energy & Transportation 571 593 624 Financial Products Segment 772 773 829 Total depreciation and amortization from reportable segments 1,983 2,029 2,205 Items not included in segment depreciation and amortization: All Other operating segment 243 267 210 Cost centers 98 126 135 Other 28 10 27 Total depreciation and amortization $ 2,352 $ 2,432 $ 2,577 Reconciliation of Capital expenditures: (Millions of dollars) 2021 2020 2019 Capital expenditures from reportable segments: Construction Industries $ 255 $ 213 $ 201 Resource Industries 199 125 168 Energy & Transportation 627 495 613 Financial Products Segment 1,218 1,100 1,534 Total capital expenditures from reportable segments 2,299 1,933 2,516 Items not included in segment capital expenditures: All Other operating segment 182 156 131 Cost centers 56 47 101 Timing (74) 19 (11) Other 9 (40) (68) Total capital expenditures $ 2,472 $ 2,115 $ 2,669 Enterprise-wide Disclosures: Information about Geographic Areas: Property, plant and equipment - net External sales and revenues 1 December 31, (Millions of dollars) 2021 2020 2019 2021 2020 Inside United States $ 19,298 $ 16,269 $ 22,806 $ 7,035 $ 7,242 Outside United States 31,673 25,479 30,994 5,055 5,159 Total $ 50,971 $ 41,748 $ 53,800 $ 12,090 $ 12,401 1 Sales of ME&T are based on dealer or customer location. Revenues from services provided are based on where service is rendered.

Acquisitions

Acquisitions	12 Months Ended
Acquisitions	Dec. 31, 2021
Business Combinations [Abstract]
Acquisitions	Acquisitions SPM Oil & Gas On February 1, 2021, Caterpillar completed the acquisition of varying equity interests and assets of the Weir Group PLC, collectively known as SPM Oil & Gas (SPM). Headquartered near Fort Worth, Texas, SPM Oil & Gas produces a full line of pumps, flow iron, consumable parts, wellhead and pressure control products that are offered via an extensive global network of service centers. This acquisition, included in the Energy & Transportation segment, is consistent with our strategy of providing our customers expanded offerings and services which will now be one of the broadest in the well service industry. The purchase price, net of $22 million of acquired cash, was approximately $359 million. We financed the transaction with available cash. Tangible assets as of the acquisition date were $520 million, recorded at their fair values, and primarily included cash of $22 million, receivables of $106 million, inventories of $159 million, leased assets of $105 million, and property, plant, and equipment of $117 million. Finite-lived intangible assets acquired of $23 million included developed technology and trade names and will be amortized on a straight-line basis over a weighted-average amortization period of approximately 8 years. Liabilities assumed as of the acquisition date were $192 million, recorded at their fair values, and primarily included lease liabilities of $105 million and accounts payable of $33 million. Goodwill of $30 million represented the excess of the consideration transferred over the net assets acquired. Assuming this transaction had been made at the beginning of any period presented, the consolidated pro forma results would not be materially different from reported results.

Restructuring Costs

Restructuring Costs	12 Months Ended
Restructuring Costs	Dec. 31, 2021
Restructuring Charges [Abstract]
Restructuring Costs	Restructuring costs Our accounting for employee separations is dependent upon how the particular program is designed. For voluntary programs, we recognize eligible separation costs at the time of employee acceptance unless the acceptance requires explicit approval by the company. For involuntary programs, we recognize eligible costs when management has approved the program, the affected employees have been properly notified and the costs are estimable. Restructuring costs for 2021, 2020 and 2019 were as follows: (Millions of dollars) 2021 2020 2019 Employee separations 1 $ 92 $ 271 $ 48 Contract terminations 1 2 2 1 Long-lived asset impairments 1 (63) 38 65 Other 2 59 43 122 Total restructuring costs $ 90 $ 354 $ 236 1 Recognized in Other operating (income) expenses. 2 Represents costs related to our restructuring programs, primarily for accelerated depreciation, inventory write-downs, project management, equipment relocation and building demolition, all of which are primarily included in Cost of goods sold. The restructuring costs in 2021 were primarily related to actions across the company including strategic actions to address certain products, which were partially offset by a gain on the sale of a manufacturing facility that had been closed. The restructuring costs in 2020 were primarily related to various voluntary and involuntary employee separation programs implemented across the company and strategic actions to address certain products, which were partially offset by a gain on the sale of a manufacturing facility that had been closed. Both the gains in 2021 and 2020 were included in Long-lived asset impairments in the table above. The restructuring costs in 2019 were primarily related to restructuring actions across the company. In 2021, all restructuring costs are excluded from segment profit. In 2020 and 2019, only certain restructuring costs were excluded from segment profit. Restructuring costs included in segment profit were as follows: (Millions of dollars) 2021 2020 2019 Construction Industries $ — $ 13 $ 4 Resource Industries — 19 5 Energy & Transportation — 55 7 Financial Products Segment — — — The following table summarizes the 2021 and 2020 employee separation activity: (Millions of dollars) 2021 2020 Liability balance, beginning of period $ 164 $ 48 Increase in liability (separation charges) 92 271 Reduction in liability (payments) (195) (155) Liability balance, end of period $ 61 $ 164 Most of the remaining liability balance as of December 31, 2021 is expected to be paid in 2022.

Operations and summary of sig_2

Operations and summary of significant accounting policies (Policies)	12 Months Ended
	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation, Policy	B. Basis of presentation The consolidated financial statements include the accounts of Caterpillar Inc. and its subsidiaries where we have a controlling financial interest. Investments in companies where our ownership exceeds 20 percent and we do not have a controlling interest or where the ownership is less than 20 percent and for which we have a significant influence are accounted for by the equity method. We consolidate all variable interest entities (VIEs) where Caterpillar Inc. is the primary beneficiary. For VIEs, we assess whether we are the primary beneficiary as prescribed by the accounting guidance on the consolidation of VIEs. The primary beneficiary of a VIE is the party that has both the power to direct the activities that most significantly impact the entity’s economic performance and the obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE. See Note 21 for further discussion on a consolidated VIE. Cat Financial has end-user customers that are VIEs of which we are not the primary beneficiary. Although we have provided financial support to these entities and therefore have a variable interest, we do not have the power to direct the activities that most significantly impact their economic performance. Our maximum exposure to loss from our involvement with these VIEs is limited to the credit risk inherently present in the financial support that we have provided. These risks were evaluated and reflected in our financial statements as part of our overall portfolio of finance receivables and related allowance for credit losses. We include shipping and handling costs in Cost of goods sold in Statement 1. Other operating (income) expenses primarily include Cat Financial’s depreciation on equipment leased to others, Insurance Services’ underwriting expenses, (gains) losses on disposal of long-lived assets, long-lived asset impairment charges, legal settlements and accruals, contract termination costs and employee separation charges. Prepaid expenses and other current assets in Statement 3 primarily include time deposits, prepaid insurance, contract assets, right of return assets, prepaid and refundable income taxes, assets held for sale, core to be returned for remanufacturing, restricted cash and other short-term investments.
Inventories, Policy	C. Inventories We state inventories at the lower of cost or net realizable value. We principally determine cost using the last-in, first-out (LIFO) method. The value of inventories on the LIFO basis represented about 60 percent of total inventories at December 31, 2021 and 2020. If the FIFO (first-in, first-out) method had been in use, inventories would have been $2,599 million and $2,132 million higher than reported at December 31, 2021 and 2020, respectively.
Depreciation and Amortization, Policy	D. Depreciation and amortization We compute depreciation of plant and equipment principally using accelerated methods. We compute depreciation on equipment leased to others, primarily for Financial Products, using the straight-line method over the term of the lease. The depreciable basis is the original cost of the equipment less the estimated residual value of the equipment at the end of the lease term. In 2021, 2020 and 2019, Cat Financial depreciation on equipment leased to others was $755 million, $758 million and $813 million, respectively, which we include in Other operating (income) expenses in Statement 1. In 2021, 2020 and 2019, consolidated depreciation expense was $2,050 million, $2,122 million and $2,253 million, respectively. We compute amortization of purchased finite-lived intangibles principally using the straight-line method, generally not to exceed a period of 20 years.
Foreign Currency Translation, Policy	E. Foreign currency translation The functional currency for most of our ME&T consolidated subsidiaries is the U.S. dollar. The functional currency for most of our Financial Products consolidated subsidiaries is the respective local currency. We include gains and losses resulting from the remeasurement of foreign currency amounts to the functional currency in Other income (expense) in Statement 1. We include gains and losses resulting from translating assets and liabilities from the functional currency to U.S. dollars in Accumulated other comprehensive income (loss) (AOCI) in Statement 3.
Derivative Financial Instruments, Policy	F. Derivative financial instruments Our earnings and cash flow are subject to fluctuations due to changes in foreign currency exchange rates, interest rates and commodity prices. Our Risk Management Policy (policy) allows for the use of derivative financial instruments to prudently manage foreign currency exchange rate, interest rate and commodity price exposures. Our policy specifies that derivatives are not to be used for speculative purposes. Derivatives that we use are primarily foreign currency forward, option and cross currency contracts, interest rate contracts and commodity forward and option contracts. All derivatives are recorded at fair value. See Note 4 for more information.
Income Taxes, Policy	G. Income taxes We determine the provision for income taxes using the asset and liability approach taking into account guidance related to uncertain tax positions. Tax laws require items to be included in tax filings at different times than the items are reflected in the financial statements. We recognize a current liability for the estimated taxes payable for the current year. Deferred taxes represent the future tax consequences expected to occur when the reported amounts of assets and liabilities are recovered or paid. We adjust deferred taxes for enacted changes in tax rates and tax laws. We record valuation allowances to reduce deferred tax assets when it is more likely than not that a tax benefit will not be realized. See Note 6 for further discussion.
Goodwill, Policy	H. Goodwill For acquisitions accounted for as a business combination, goodwill represents the excess of the cost over the fair value of the net assets acquired. We are required to test goodwill for impairment, at the reporting unit level, annually and when events or circumstances make it more likely than not that an impairment may have occurred. A reporting unit is an operating segment or one level below an operating segment (referred to as a component) to which goodwill is assigned when initially recorded. We assign goodwill to reporting units based on our integration plans and the expected synergies resulting from the acquisition. Because Caterpillar is a highly integrated company, the businesses we acquire are sometimes combined with or integrated into existing reporting units. When changes occur in the composition of our operating segments or reporting units, we reassign goodwill to the affected reporting units based on their relative fair values. We perform our annual goodwill impairment test as of October 1 and monitor for interim triggering events on an ongoing basis. We review goodwill for impairment utilizing either a qualitative assessment or a quantitative goodwill impairment test. If we choose to perform a qualitative assessment and determine the fair value more likely than not exceeds the carrying value, no further evaluation is necessary. For reporting units where we perform the quantitative goodwill impairment test, we compare the fair value of each reporting unit, which we primarily determine using an income approach based on the present value of discounted cash flows, to the respective carrying value, which includes goodwill. If the fair value of the reporting unit exceeds its carrying value, we do not consider the goodwill impaired. If the carrying value is higher than the fair value, we would recognize the difference as an impairment loss. See Note 10 for further details.
Estimates in Financial Statements, Policy	I. Estimates in financial statements The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect reported amounts. The more significant estimates include: residual values for leased assets; fair values for goodwill impairment tests; warranty liability and reserves for product liability and insurance losses, postretirement benefits, post-sale discounts, credit losses and income taxes.

Sales and revenue recognition_2

Sales and revenue recognition sales and revenue recognition (Policies)	12 Months Ended
	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Revenue [Policy Text Block]	Sales and revenue recognition A. Sales of Machinery, Energy & Transportation We recognize sales of ME&T when all the following criteria are satisfied: (i) a contract with an independently owned and operated dealer or an end user exists which has commercial substance; (ii) it is probable we will collect the amount charged to the dealer or end user; and (iii) we have completed our performance obligation whereby the dealer or end user has obtained control of the product. A contract with commercial substance exists once we receive and accept a purchase order under a dealer sales agreement, or once we enter into a contract with an end user. If collectibility is not probable, the sale is deferred and not recognized until collection is probable or payment is received. Control of our products typically transfers when title and risk of ownership of the product has transferred to the dealer or end user. Typically, where product is produced and sold in the same country, title and risk of ownership transfer when we ship the product. Products that are exported from a country for sale typically transfer title and risk of ownership at the border of the destination country. Our remanufacturing operations are primarily focused on the remanufacture of Cat engines and components and rail related products. In this business, we inspect, clean and remanufacture used engines and related components (core). In connection with the sale of our remanufactured product to dealers, we collect a deposit that is repaid if the dealer returns an acceptable core within a specified time period. Caterpillar owns and has title to the cores when they are returned from dealers. The rebuilt engine or component (the core plus any new content) is then sold as a remanufactured product to dealers and end users. We recognize revenue pursuant to the same transfer of control criteria as ME&T sales noted above. At the time of sale, we recognize the deposit in Other current liabilities in Statement 3, and we recognize the core to be returned as an asset in Prepaid expenses and other current assets in Statement 3 at the estimated replacement cost (based on historical experience with usable cores). Upon receipt of an acceptable core, we repay the deposit and relieve the liability. We then transfer the returned core asset into inventory. In the event that the deposit is forfeited (i.e., upon failure by the dealer to return an acceptable core in the specified time period), we recognize the core deposit and the cost of the core in Sales and Cost of goods sold, respectively. We provide discounts to dealers through merchandising programs. We have numerous programs that are designed to promote the sale of our products. The most common dealer programs provide a discount when the dealer sells a product to a targeted end user. Generally, we estimate the cost of these discounts for each product by model by geographic region based on historical experience and known changes in merchandising programs. We report the cost of these discounts as a reduction to the transaction price when we recognize the product sale. We accrue a corresponding post-sale discount reserve in Statement 3, which represents discounts we expect to pay on units sold. If discounts paid differ from those estimated, we report the difference as a change in the transaction price. Except for replacement parts, no right of return exists on the sale of our products. We estimate replacement part returns based on historical experience and recognize a parts return asset in Prepaid expenses and other current assets in Statement 3, which represents our right to recover replacement parts we expect will be returned. We also recognize a refund liability in Other current liabilities in Statement 3 for the refund we expect to pay for returned parts. If actual replacement part returns differ from those estimated, we recognize the difference in the estimated replacement part return asset and refund liability in Cost of goods sold and Sales, respectively. Our standard dealer invoice terms are established by marketing region. Our invoice terms for end user sales are established by the responsible business unit. Payments from dealers are due shortly after the time of sale. When we make a sale to a dealer, the dealer is responsible for payment even if the product is not sold to an end user. Dealers and end users must make payment within the established invoice terms to avoid potential interest costs. Interest at or above prevailing market rates may be charged on any past due balance, and generally our practice is to not forgive this interest. In addition, Cat Financial provides wholesale inventory financing for a dealer’s purchase of inventory. Wholesale inventory receivables have varying payment terms. We include wholesale inventory receivables in Receivables – trade and other and Long-term receivables – trade and other in Statement 3. See Note 7 for further information. We recognize trade receivables from dealers and end users in Receivables - trade and other and Long-term receivables trade and other in Statement 3. Trade receivables from dealers and end users were $7,267 million, $6,310 million and $7,648 million as of December 31, 2021, 2020 and 2019, respectively. Long-term trade receivables from dealers and end users were $624 million, $657 million and $693 million as of December 31, 2021, 2020 and 2019, respectively. We establish an allowance for credit losses for ME&T receivables when it becomes probable that we will not collect the receivable. Our allowance for credit losses is not significant. We invoice in advance of recognizing the sale of certain products. We recognize advanced customer payments as a contract liability in Customer advances and Other liabilities in Statement 3. Contract liabilities were $1,557 million, $1,526 million and $1,654 million as of December 31, 2021, 2020 and 2019, respectively. We reduce the contract liability when we recognize revenue. During 2021, we recognized $903 million of revenue that was recorded as a contract liability at the beginning of 2021. During 2020, we recognized $1,012 million of revenue that was recorded as a contract liability at the beginning of 2020. We have elected the practical expedient to not adjust the amount of revenue to be recognized under a contract with a dealer or end user for the effects of time value of money when the timing difference between receipt of payment and recognition of revenue is less than one year. As of December 31, 2021, we have entered into contracts with dealers and end users for which sales have not been recognized as we have not satisfied our performance obligations and transferred control of the products. The dollar amount of unsatisfied performance obligations for contracts with an original duration greater than one year is $6.4 billion, with about one-third of the amount expected to be completed and revenue recognized in the twelve months following December 31, 2021. We have elected the practical expedient to not disclose unsatisfied performance obligations with an original contract duration of one year or less. Contracts with an original duration of one year or less are primarily sales to dealers for machinery, engines and replacement parts. We exclude sales and other related taxes from the transaction price. We account for shipping and handling costs associated with outbound freight after control over a product has transferred as a fulfillment cost which is included in Cost of goods sold. We provide a standard manufacturer’s warranty of our products at no additional cost. At the time we recognize a sale, we record estimated future warranty costs. See Note 21 for further discussion of our product warranty liabilities. See Note 23 for further disaggregated sales and revenues information. B. Revenues of Financial Products Revenues of Financial Products are generated primarily from finance revenue on finance receivables and rental payments on operating leases. We record finance revenue over the life of the related finance receivable using the interest method, including the accretion of certain direct origination costs that are deferred. We recognize revenue from rental payments received on operating leases on a straight-line basis over the term of the lease.

Derivative financial instrume_2

Derivative financial instruments and risk management (Policies)	12 Months Ended
	Dec. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Risk Management, Policy	Foreign currency exchange rate risk Foreign currency exchange rate movements create a degree of risk by affecting the U.S. dollar value of sales made and costs incurred in foreign currencies. Movements in foreign currency rates also affect our competitive position as these changes may affect business practices and/or pricing strategies of non-U.S.-based competitors. Additionally, we have balance sheet positions denominated in foreign currencies, thereby creating exposure to movements in exchange rates. Our ME&T operations purchase, manufacture and sell products in many locations around the world. As we have a diversified revenue and cost base, we manage our future foreign currency cash flow exposure on a net basis. We use foreign currency forward and option contracts to manage unmatched foreign currency cash inflow and outflow. Our objective is to minimize the risk of exchange rate movements that would reduce the U.S. dollar value of our foreign currency cash flow. Our policy allows for managing anticipated foreign currency cash flow for up to approximately five years. As of December 31, 2021, the maximum term of these outstanding contracts at inception was approximately 60 months. We generally designate as cash flow hedges at inception of the contract any Australian dollar, Brazilian real, British pound, Canadian dollar, Chinese yuan, Euro, Indian rupee, Japanese yen, Mexican peso, Norwegian Krona, Singapore dollar or Thailand baht forward or option contracts that meet the requirements for hedge accounting and the maturity extends beyond the current quarter-end. We perform designation on a specific exposure basis to support hedge accounting. The remainder of ME&T foreign currency contracts are undesignated. In managing foreign currency risk for our Financial Products operations, our objective is to minimize earnings volatility resulting from conversion and the remeasurement of net foreign currency balance sheet positions and future transactions denominated in foreign currencies. Our policy allows the use of foreign currency forward, option and cross currency contracts to offset the risk of currency mismatch between our assets and liabilities and exchange rate risk associated with future transactions denominated in foreign currencies. Our foreign currency forward and option contracts are primarily undesignated. We designate fixed-to-fixed cross currency contracts as cash flow hedges to protect against movements in exchange rates on foreign currency fixed-rate assets and liabilities. B. Interest rate risk Interest rate movements create a degree of risk by affecting the amount of our interest payments and the value of our fixed-rate debt. Our practice is to use interest rate contracts to manage our exposure to interest rate changes. Our ME&T operations generally use fixed-rate debt as a source of funding. Our objective is to minimize the cost of borrowed funds. Our policy allows us to enter into fixed-to-floating interest rate contracts and forward rate agreements to meet that objective. We designate fixed-to-floating interest rate contracts as fair value hedges at inception of the contract, and we designate certain forward rate agreements as cash flow hedges at inception of the contract. Financial Products operations has a match-funding policy that addresses interest rate risk by aligning the interest rate profile (fixed or floating rate and duration) of Cat Financial’s debt portfolio with the interest rate profile of our receivables portfolio within predetermined ranges on an ongoing basis. In connection with that policy, we use interest rate derivative instruments to modify the debt structure to match assets within the receivables portfolio. This matched funding reduces the volatility of margins between interest-bearing assets and interest-bearing liabilities, regardless of which direction interest rates move. Our policy allows us to use fixed-to-floating, floating-to-fixed and floating-to-floating interest rate contracts to meet the match-funding objective. We designate fixed-to-floating interest rate contracts as fair value hedges to protect debt against changes in fair value due to changes in the benchmark interest rate. We designate most floating-to-fixed interest rate contracts as cash flow hedges to protect against the variability of cash flows due to changes in the benchmark interest rate. We have, at certain times, liquidated fixed-to-floating and floating-to-fixed interest rate contracts at both ME&T and Financial Products. We amortize the gains or losses associated with these contracts at the time of liquidation into earnings over the original term of the previously designated hedged item. C. Commodity price risk Commodity price movements create a degree of risk by affecting the price we must pay for certain raw materials. Our policy is to use commodity forward and option contracts to manage the commodity risk and reduce the cost of purchased materials. Our ME&T operations purchase base and precious metals embedded in the components we purchase from suppliers. Our suppliers pass on to us price changes in the commodity portion of the component cost. In addition, we are subject to price changes on energy products such as natural gas and diesel fuel purchased for operational use. Our objective is to minimize volatility in the price of these commodities. Our policy allows us to enter into commodity forward and option contracts to lock in the purchase price of a portion of these commodities within a five-year horizon. All such commodity forward and option contracts are undesignated.

Stock-based compensation (Table

Stock-based compensation (Tables)	12 Months Ended
Stock-based compensation (Tables)	Dec. 31, 2021
Share-based Payment Arrangement [Abstract]
Schedule providing assumptions used in determining the fair value of stock-based awards	The following table provides the assumptions used in determining the fair value of the Option awards for the years ended December 31, 2021, 2020 and 2019, respectively. Grant Year 2021 2020 2019 Weighted-average dividend yield 2.6 % 2.5 % 2.6 % Weighted-average volatility 32.9 % 25.7 % 29.1 % Range of volatilities 29.2%-45.8% 24.5%-29.7% 25.1%- 38.7% Range of risk-free interest rates 0.06%-1.41% 1.21%-1.39% 2.48%-2.68% Weighted-average expected lives 8 years 8 years 7 years
Schedule of stock-based compensation activity	Please refer to Tables I and II below for additional information on our stock-based compensation awards. TABLE I — Financial Information Related to Stock-based Compensation Stock options RSUs PRSUs Shares Weighted- Shares Weighted- Shares Weighted- Outstanding at January 1, 2021 10,076,983 $ 109.60 1,327,950 $ 134.89 727,757 $ 132.81 Granted to officers and key employees 1,084,821 $ 219.76 472,698 $ 216.50 285,056 $ 215.45 Exercised (3,399,720) $ 103.45 — $ — — $ — Vested — $ — (665,357) $ 138.90 (356,618) $ 138.35 Forfeited / expired (39,664) $ 161.34 (35,110) $ 167.12 (10,822) $ 163.02 Outstanding at December 31, 2021 7,722,420 $ 127.52 1,100,181 $ 166.50 645,373 $ 165.74 Exercisable at December 31, 2021 4,914,111 $ 106.36 Stock options outstanding and exercisable as of December 31, 2021: Outstanding Exercisable Exercise Prices Shares Outstanding at 12/31/2021 Weighted- Weighted- Aggregate Intrinsic Value 1 Shares Outstanding at 12/31/2021 Weighted- Weighted- Aggregate Intrinsic Value 1 $74.77-$83.00 1,846,000 3.75 $ 78.65 $ 236 1,846,000 3.75 $ 78.65 $ 236 $89.75-$96.31 1,225,687 4.01 $ 95.20 137 1,225,182 4.01 $ 95.20 137 $110.09 39,909 0.17 $ 110.09 4 39,909 0.17 $ 110.09 4 $127.60-$138.35 2,675,475 7.88 $ 131.81 200 936,141 7.68 $ 134.01 68 $151.12-$219.76 1,935,349 7.93 $ 189.01 34 866,879 6.26 $ 151.12 48 7,722,420 $ 127.52 $ 611 4,914,111 $ 106.36 $ 493 1 The difference between a stock award’s exercise price and the underlying stock’s closing market price at December 31, 2021, for awards with market price greater than the exercise price. Amounts are in millions of dollars.
Schedule of financial information related to stock-based compensation	TABLE II— Additional Stock-based Award Information (Dollars in millions except per share data) 2021 2020 2019 Stock options activity: Weighted-average fair value per share of stock awards granted $ 56.30 $ 25.98 $ 40.98 Intrinsic value of stock awards exercised $ 374 $ 386 $ 264 Fair value of stock awards vested 1 $ 59 $ 64 $ 100 Cash received from stock awards exercised $ 212 $ 282 $ 298 RSUs activity: Weighted-average fair value per share of stock awards granted $ 216.50 $ 128.07 $ 138.61 Fair value of stock awards vested 2 $ 136 $ 87 $ 110 PRSUs activity: Weighted-average fair value per share of stock awards granted $ 215.45 $ 128.41 $ 138.67 Fair value of stock awards vested 2 $ 74 $ 59 $ 59 1 Based on the grant date fair value. 2 Based on the underlying stock’s closing market price on the vesting date.

Derivative financial instrume_3

Derivative financial instruments and risk management (Tables)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Location and fair value of derivative instruments reported in the Consolidated Financial Position	The location and fair value of derivative instruments reported in Statement 3 were as follows: Consolidated Asset (Liability) Fair Value (Millions of dollars) Years ended December 31, 2021 2020 Designated derivatives Foreign exchange contracts Machinery, Energy & Transportation Receivables — trade and other $ 58 $ 74 Machinery, Energy & Transportation Long-term receivables — trade and other 28 71 Machinery, Energy & Transportation Accrued expenses (26) (36) Machinery, Energy & Transportation Other liabilities (6) (1) Financial Products Receivables — trade and other 109 1 Financial Products Long-term receivables — trade and other 33 1 Financial Products Accrued expenses (32) (148) Interest rate contracts Machinery, Energy & Transportation Long-term receivables — trade and other — 4 Financial Products Receivables — trade and other 7 2 Financial Products Long-term receivables — trade and other 31 57 Financial Products Accrued expenses (15) (5) $ 187 $ 20 Undesignated derivatives Foreign exchange contracts Machinery, Energy & Transportation Receivables — trade and other $ 18 $ 10 Machinery, Energy & Transportation Accrued expenses (6) (1) Financial Products Receivables — trade and other 21 17 Financial Products Long-term receivables — trade and other 7 7 Financial Products Accrued expenses (36) (107) Commodity contracts Machinery, Energy & Transportation Receivables — trade and other 30 35 Machinery, Energy & Transportation Long-term receivables — trade and other — 2 Machinery, Energy & Transportation Accrued expenses (9) — $ 25 $ (37)
Total notional amounts of derivative instruments	The total notional amounts of the derivative instruments were as follows: Years ended December 31, (Millions of dollars) 2021 2020 Machinery, Energy & Transportation $ 5,085 $ 3,553 Financial Products $ 13,852 $ 11,260
Effect of derivatives designated as hedging instruments on Consolidated Results of Operations	The effect of derivatives designated as hedging instruments on Statement 1 was as follows: Cash Flow Hedges (Millions of dollars) Year ended December 31, 2021 Recognized in Earnings Amount of Classification of Amount of Gains (Losses) Reclassified from AOCI Amount of the line items in Statement 1 Foreign exchange contracts Machinery, Energy & Transportation $ (21) Sales of Machinery, Energy & Transportation $ (13) $ 48,188 Cost of goods sold 46 35,513 Financial Products 190 Interest expense of Financial Products (5) 455 Other income (expense) 199 1,814 Interest rate contracts Machinery, Energy & Transportation 7 Interest expense excluding Financial Products (3) 488 Financial Products 19 Interest expense of Financial Products (28) 455 $ 195 $ 196 Year ended December 31, 2020 Recognized in Earnings Amount of Classification of Amount of Gains (Losses) Reclassified from AOCI Amount of the line items in Statement 1 Foreign exchange contracts Machinery, Energy & Transportation $ 48 Sales of Machinery, Energy & Transportation $ 2 $ 39,022 Cost of goods sold (55) 29,082 Financial Products (130) Interest expense of Financial Products 32 589 Other income (expense) (164) (44) Interest rate contracts Machinery, Energy & Transportation (11) Interest expense excluding Financial Products (4) 514 Financial Products (23) Interest expense of Financial Products (52) 589 $ (116) $ (241) Year ended December 31, 2019 Recognized in Earnings Amount of Classification of Amount of Gains (Losses) Reclassified from AOCI Amount of the line items in Statement 1 Foreign exchange contracts Machinery, Energy & Transportation $ 34 Sales of Machinery, Energy & Transportation $ 11 $ 50,755 Cost of goods sold (3) 36,630 Financial Products 93 Interest expense of Financial Products 33 754 Other income (expense) 37 (57) Interest rate contracts Machinery, Energy & Transportation — Interest expense excluding Financial Products (4) 421 Financial Products (70) Interest expense of Financial Products (8) 754 $ 57 $ 66
Effect of derivatives not designated as hedging instruments on the Consolidated Results of Operations	The effect of derivatives not designated as hedging instruments on Statement 1 was as follows: Years ended December 31, (Millions of dollars) Classification of Gains (Losses) 2021 2020 2019 Foreign exchange contracts Machinery, Energy & Transportation Other income (expense) $ 15 $ 38 $ 13 Financial Products Other income (expense) 89 (112) (37) Commodity contracts Machinery, Energy & Transportation Other income (expense) 56 11 18 $ 160 $ (63) $ (6)
Effect of net settlement provisions of the master netting agreements on derivative assets	The effect of the net settlement provisions of the master netting agreements on our derivative balances upon an event of default or termination event was as follows: December 31, 2021 Gross Amounts Not Offset in the Statement of Financial Position (Millions of dollars) Gross Amount of Recognized Assets Gross Amounts Offset in the Statement of Financial Position Net Amount of Assets Presented in the Statement of Financial Position Financial Instruments Cash Collateral Received Net Amount of Assets Derivatives Machinery, Energy & Transportation $ 134 $ — $ 134 $ (47) $ — $ 87 Financial Products 208 — 208 (67) — 141 Total $ 342 $ — $ 342 $ (114) $ — $ 228	December 31, 2020 Gross Amounts Not Offset in the Statement of Financial Position (Millions of dollars) Gross Amount of Recognized Assets Gross Amounts Offset in the Statement of Financial Position Net Amount of Assets Presented in the Statement of Financial Position Financial Instruments Cash Collateral Received Net Amount of Assets Derivatives Machinery, Energy & Transportation $ 196 $ — $ 196 $ (38) $ — $ 158 Financial Products 85 — 85 (57) — 28 Total $ 281 $ — $ 281 $ (95) $ — $ 186
Effect of net settlement provisions of the master netting agreements on derivative liabilities	December 31, 2021 Gross Amounts Not Offset in the Statement of Financial Position (Millions of dollars) Gross Amount of Recognized Liabilities Gross Amounts Offset in the Statement of Financial Position Net Amount of Liabilities Presented in the Statement of Financial Position Financial Instruments Cash Collateral Pledged Net Amount of Liabilities Derivatives Machinery, Energy & Transportation $ (47) $ — $ (47) $ 47 $ — $ — Financial Products (83) — (83) 67 — (16) Total $ (130) $ — $ (130) $ 114 $ — $ (16)	December 31, 2020 Gross Amounts Not Offset in the Statement of Financial Position (Millions of dollars) Gross Amount of Recognized Liabilities Gross Amounts Offset in the Statement of Financial Position Net Amount of Liabilities Presented in the Statement of Financial Position Financial Instruments Cash Collateral Pledged Net Amount of Liabilities Derivatives Machinery, Energy & Transportation $ (38) $ — $ (38) $ 38 $ — $ — Financial Products (260) — (260) 57 — (203) Total $ (298) $ — $ (298) $ 95 $ — $ (203)

Other income (expense) (Tables)

Other income (expense) (Tables)	12 Months Ended
Other income (expense) (Tables)	Dec. 31, 2021
Other Income and Expenses [Abstract]
Other income (expense)	Years ended December 31, (Millions of dollars) 2021 2020 2019 Investment and interest income $ 80 $ 112 $ 202 Foreign exchange gains (losses) 1 110 (193) (67) License fee income 123 104 121 Gains (losses) on securities 134 37 65 Net periodic pension and OPEB income (cost), excluding service cost 1,279 (90) (363) Miscellaneous income (loss) 88 (14) (15) Total $ 1,814 $ (44) $ (57) 1 Includes gains (losses) from foreign exchange derivative contracts. See Note 4 for further details.

Income taxes (Tables)

Income taxes (Tables)	12 Months Ended
Income taxes (Tables)	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Reconciliation of the U.S. federal statutory rate to effective rate	Reconciliation of the U.S. federal statutory rate to effective rate: Years ended December 31, (Millions of dollars) 2021 2020 2019 Taxes at U.S. statutory rate $ 1,723 21.0 % $ 839 21.0 % $ 1,641 21.0 % (Decreases) increases resulting from: Non-U.S. subsidiaries taxed at other than the U.S. rate 211 2.6 % 285 7.1 % 365 4.7 % State and local taxes, net of federal 1 28 0.3 % 32 0.8 % 59 0.8 % Interest and penalties, net of tax 45 0.6 % 28 0.7 % 34 0.4 % U.S. tax incentives (123) (1.5) % (52) (1.3) % (149) (1.9) % Net excess tax benefits from stock-based compensation (63) (0.8) % (49) (1.2) % (41) (0.5) % Prior year tax adjustments (36) (0.4) % (80) (2.0) % (178) (2.3) % Other—net (43) (0.6) % 3 0.1 % 15 0.2 % Provision (benefit) for income taxes $ 1,742 21.2 % $ 1,006 25.2 % $ 1,746 22.4 % 1 Excludes amounts included in net excess tax benefits from stock-based compensation.
Components of profit (loss) before taxes	The components of profit (loss) before taxes were: Years ended December 31, (Millions of dollars) 2021 2020 2019 U.S. $ 2,740 $ 590 $ 2,888 Non-U.S. 5,464 3,405 4,924 $ 8,204 $ 3,995 $ 7,812
Components of the provision (benefit) for income taxes	The components of the provision (benefit) for income taxes were: Years ended December 31, (Millions of dollars) 2021 2020 2019 Current tax provision (benefit): U.S. 1 $ 766 $ 18 $ 405 Non-U.S. 1,283 1,031 1,261 State (U.S.) 76 31 52 2,125 1,080 1,718 Deferred tax provision (benefit): U.S. 1 (387) (44) 17 Non-U.S. 54 (34) (7) State (U.S.) (50) 4 18 (383) (74) 28 Total provision (benefit) for income taxes $ 1,742 $ 1,006 $ 1,746 1 Includes U.S. taxes related to non-U.S. earnings. We account for U.S. taxes on global intangible low-taxed income as a period cost.
Deferred income tax assets and liabilities	The amount of deferred income taxes at December 31, included on the following lines in Statement 3, were as follows: December 31, (Millions of dollars) 2021 2020 Assets: Noncurrent deferred and refundable income taxes $ 1,669 $ 1,358 Liabilities: Other liabilities 412 418 Deferred income taxes—net $ 1,257 $ 940 The components of deferred tax assets and liabilities were: December 31, (Millions of dollars) 2021 2020 Deferred income tax assets: Tax carryforwards $ 1,380 $ 1,346 Postemployment benefits other than pensions 848 919 Employee compensation and benefits 464 267 Research expenditures 415 193 Intercompany prepayments 280 — Warranty reserves 266 247 Lease obligations 159 154 Post sale discounts 143 153 Pension 111 396 Allowance for credit losses 106 126 Other—net 235 317 4,407 4,118 Deferred income tax liabilities: Capital and intangible assets, including lease basis differences (1,457) (1,526) Other outside basis differences (264) (284) Translation (188) (147) Bond discount (112) (117) Undistributed profits of non-U.S. subsidiaries (101) (95) (2,122) (2,169) Valuation allowance for deferred tax assets (1,028) (1,009) Deferred income taxes—net $ 1,257 $ 940
Summary of net operating loss carryforwards	At December 31, 2021, amounts and expiration dates of net operating loss and interest carryforwards in various non-U.S. taxing jurisdictions were: (Millions of dollars) 2022 2023 2024 2025-2027 2028-2042 Unlimited Total $ 4 $ 3 $ 14 $ 32 $ 844 $ 3,876 $ 4,773
Reconciliation of unrecognized tax benefits	A reconciliation of the beginning and ending amount of gross unrecognized tax benefits for uncertain tax positions, including positions impacting only the timing of tax benefits, follows. Reconciliation of unrecognized tax benefits: 1 Years ended December 31, (Millions of dollars) 2021 2020 2019 Beginning balance $ 1,759 $ 1,778 $ 1,796 Additions for tax positions related to current year 141 44 72 Additions for tax positions related to prior years 43 46 112 Reductions for tax positions related to prior years (30) (12) (201) Reductions for settlements 2 (24) (94) — Reductions for expiration of statute of limitations (3) (3) (1) Ending balance $ 1,886 $ 1,759 $ 1,778 Amount that, if recognized, would impact the effective tax rate $ 1,688 $ 1,657 $ 1,616 1 Foreign currency impacts are included within each line as applicable. 2 Includes cash payment or other reduction of assets to settle liability.

Cat Financial Financing Activ_2

Cat Financial Financing Activities (Tables)	12 Months Ended
Cat Financial Financing Activities (Tables)	Dec. 31, 2021
Receivables [Abstract]
Contractual maturities of outstanding wholesale inventory receivables	Contractual maturities of outstanding wholesale inventory receivables: (Millions of dollars) December 31, 2021 Amounts Due In Wholesale Wholesale Total 2022 $ 421 $ 46 $ 467 2023 237 38 275 2024 117 30 147 2025 56 22 78 2026 21 9 30 Thereafter 5 — 5 Total 857 145 1,002 Guaranteed residual value 1 68 27 95 Unguaranteed residual value 1 2 29 31 Less: Unearned income (11) (19) (30) Total $ 916 $ 182 $ 1,098 1 For Wholesale loans, represents residual value on failed sale leasebacks.
Contractual maturities of outstanding finance receivables	Finance receivables are receivables of Cat Financial and are reported in Statement 3 net of an allowance for credit losses. Contractual maturities of outstanding finance receivables: (Millions of dollars) December 31, 2021 Amounts Due In Retail Retail Total 2022 $ 5,839 $ 3,137 $ 8,976 2023 3,892 2,070 5,962 2024 2,571 1,101 3,672 2025 1,448 510 1,958 2026 647 217 864 Thereafter 195 34 229 Total 14,592 7,069 21,661 Guaranteed residual value 1 16 386 402 Unguaranteed residual value 1 3 720 723 Less: Unearned income (304) (554) (858) Total $ 14,307 $ 7,621 $ 21,928 1 For Retail loans, represents residual value on failed sale leasebacks.
Allowance for credit losses in finance receivables	An analysis of the allowance for credit losses was as follows: (Millions of dollars) December 31, 2021 December 31, 2020 Customer Dealer Total Customer Dealer Total Allowance for Credit Losses: Beginning balance $ 431 $ 44 $ 475 $ 375 $ 45 $ 420 Adjustment to adopt new accounting guidance 1 — — — 12 — 12 Write-offs (256) — (256) (263) — (263) Recoveries 51 — 51 41 — 41 Provision for credit losses 30 38 68 262 (1) 261 Other (5) — (5) 4 — 4 Ending balance $ 251 $ 82 $ 333 $ 431 $ 44 $ 475 Finance Receivables $ 20,135 $ 1,793 $ 21,928 $ 19,238 $ 2,922 $ 22,160 1 Adjustment to adopt new accounting guidance related to credit losses.
Amortized cost of finance receivables in the customer portfolio segment by origination year	The tables below summarize the aging category of Cat Financial's amortized cost of finance receivables in the Customer portfolio segment by origination year: (Millions of dollars) December 31, 2021 2021 2020 2019 2018 2017 Prior Revolving Total Finance Receivables North America Current $ 4,792 $ 2,596 $ 1,426 $ 630 $ 182 $ 32 $ 182 $ 9,840 31-60 days past due 27 32 20 12 4 1 5 101 61-90 days past due 7 8 5 3 1 1 5 30 91+ days past due 9 17 12 13 5 4 5 65 EAME Current 1,499 836 577 352 140 26 — 3,430 31-60 days past due 5 4 3 1 1 — — 14 61-90 days past due 3 3 3 1 — — — 10 91+ days past due 3 11 2 2 — 2 — 20 Asia/Pacific Current 1,271 803 307 71 16 2 — 2,470 31-60 days past due 10 14 10 2 — — — 36 61-90 days past due 3 7 4 1 — — — 15 91+ days past due 2 10 10 3 — — — 25 Mining Current 851 347 307 193 36 161 36 1,931 31-60 days past due 6 — — — — — — 6 61-90 days past due 1 — — — 4 — — 5 91+ days past due — 1 8 9 3 1 — 22 Latin America Current 617 299 160 70 17 18 — 1,181 31-60 days past due 4 7 3 3 1 — — 18 61-90 days past due 3 3 1 1 — — — 8 91+ days past due 4 9 9 7 7 14 — 50 Caterpillar Power Finance Current 117 145 97 70 180 104 101 814 31-60 days past due — — — — — — — — 61-90 days past due — — — — — — — — 91+ days past due — — — — — 44 — 44 Total Customer $ 9,234 $ 5,152 $ 2,964 $ 1,444 $ 597 $ 410 $ 334 $ 20,135 (Millions of dollars) December 31, 2020 2020 2019 2018 2017 2016 Prior Revolving Total Finance Receivables North America Current $ 3,777 $ 2,423 $ 1,344 $ 522 $ 212 $ 27 $ 89 $ 8,394 31-60 days past due 52 49 33 16 7 2 — 159 61-90 days past due 22 25 16 9 2 1 — 75 91+ days past due 14 35 31 20 9 4 2 115 EAME Current 1,605 931 501 203 60 18 — 3,318 31-60 days past due 5 15 3 2 — — — 25 61-90 days past due 1 1 2 1 — — — 5 91+ days past due 7 7 12 4 39 43 — 112 Asia/Pacific Current 1,375 745 321 61 10 3 — 2,515 31-60 days past due 12 22 13 6 — — — 53 61-90 days past due 7 11 7 1 — — — 26 91+ days past due 4 10 9 3 — — — 26 Mining Current 490 571 287 152 92 151 137 1,880 31-60 days past due 5 — 5 1 — — — 11 61-90 days past due — — — — — — — — 91+ days past due — 11 8 2 — — 1 22 Latin America Current 561 348 151 48 13 34 — 1,155 31-60 days past due 3 6 4 3 — — — 16 61-90 days past due 1 7 6 3 2 — — 19 91+ days past due 2 14 11 24 5 4 — 60 Caterpillar Power Finance Current 217 172 111 273 99 117 119 1,108 31-60 days past due — — 6 — — — — 6 61-90 days past due — — — — — 9 — 9 91+ days past due 2 — 20 3 25 79 — 129 Total Customer $ 8,162 $ 5,403 $ 2,901 $ 1,357 $ 575 $ 492 $ 348 $ 19,238
Financing Receivable, Nonaccrual	In Cat Financial's Customer portfolio segment, finance receivables which were on non-accrual status and finance receivables over 90 days past due and still accruing income were as follows: December 31, 2021 December 31, 2020 Amortized Cost Amortized Cost (Millions of dollars) Non-accrual Non-accrual 91+ Still Non-accrual Non-accrual 91+ Still North America $ 47 $ 9 $ 12 $ 86 $ 1 $ 34 EAME 18 1 2 113 1 1 Asia/Pacific 19 — 7 13 — 13 Mining 8 1 14 21 1 — Latin America 52 4 1 63 — 1 Caterpillar Power Finance 40 11 — 170 17 — Total $ 184 $ 26 $ 36 $ 466 $ 20 $ 49
TDR tables	Cat Financial’s finance receivables in the Customer portfolio segment modified as TDRs for the years ended December 31, were as follows: (Millions of dollars) Year ended December 31, 2021 Year ended December 31, 2020 Year ended December 31, 2019 Pre-TDR Post-TDR Pre-TDR Post-TDR Pre-TDR Post-TDR Customer North America $ 6 $ 6 $ 13 $ 13 $ 11 $ 11 EAME 3 3 — — 17 17 Asia/Pacific 4 4 12 12 — — Mining 11 5 35 35 8 8 Latin America 12 12 45 45 5 3 Caterpillar Power Finance 26 22 115 115 168 165 Total $ 62 $ 52 $ 220 $ 220 $ 209 $ 204 The Post-TDR amortized costs in the Customer portfolio segment with a payment default (defined as 91+ days past due) which had been modified within twelve months prior to the default date, were as follows: (Millions of dollars) Years ended December 31, Customer 2021 2020 2019 North America $ 1 $ 8 $ 5 EAME — 10 — Asia/Pacific 6 2 — Mining — 10 — Latin America 15 1 — Caterpillar Power Finance 7 18 10 Total $ 29 $ 49 $ 15

Inventories (Tables)

Inventories (Tables)	12 Months Ended
Inventories (Tables)	Dec. 31, 2021
Inventory Disclosure [Abstract]
Inventories	Inventories (principally using the LIFO method) are comprised of the following: December 31, (Millions of dollars) 2021 2020 Raw materials $ 5,528 $ 4,021 Work-in-process 1,318 1,052 Finished goods 6,907 6,054 Supplies 285 275 Total inventories $ 14,038 $ 11,402

Property, plant and equipment (

Property, plant and equipment (Tables)	12 Months Ended
Property, plant and equipment (Tables)	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
Property, plant and equipment	December 31, (Millions of dollars) Useful 2021 2020 Land — $ 648 $ 681 Buildings and land improvements 20-45 7,113 7,091 Machinery, equipment and other 2-10 12,868 13,004 Software 3-7 1,697 1,679 Equipment leased to others 1-7 5,733 6,077 Construction-in-process — 812 739 Total property, plant and equipment, at cost 28,871 29,271 Less: Accumulated depreciation (16,781) (16,870) Property, plant and equipment–net $ 12,090 $ 12,401

Intangible assets and goodwill

Intangible assets and goodwill (Tables)	12 Months Ended
Intangible assets and goodwill (Tables)	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible assets	Intangible assets were comprised of the following: December 31, 2021 (Millions of dollars) Weighted Gross Accumulated Net Customer relationships 15 $ 2,421 $ (1,709) $ 712 Intellectual property 12 1,472 (1,192) 280 Other 14 156 (106) 50 Total finite-lived intangible assets 14 $ 4,049 $ (3,007) $ 1,042 December 31, 2020 Weighted Gross Accumulated Net Customer relationships 15 $ 2,493 $ (1,600) $ 893 Intellectual property 12 1,439 (1,073) 366 Other 14 164 (115) 49 Total finite-lived intangible assets 14 $ 4,096 $ (2,788) $ 1,308
Expected amortization expense related to intangible assets	As of December 31, 2021, amortization expense related to intangible assets is expected to be: (Millions of dollars) 2022 2023 2024 2025 2026 Thereafter $286 $227 $169 $159 $88 $113
Goodwill	The changes in carrying amount of goodwill by reportable segment for the years ended December 31, 2021 and 2020 were as follows: (Millions of dollars) December 31, 2020 Acquisitions Other Adjustments 1 December 31, 2021 Construction Industries Goodwill $ 320 $ 4 $ (22) $ 302 Impairments (22) — — (22) Net goodwill 298 4 (22) 280 Resource Industries Goodwill 4,253 22 (93) 4,182 Impairments (1,175) — — (1,175) Net goodwill 3,078 22 (93) 3,007 Energy & Transportation Goodwill 2,959 49 (23) 2,985 All Other 2 Goodwill 59 — (7) 52 Consolidated total Goodwill 7,591 75 (145) 7,521 Impairments (1,197) — — (1,197) Net goodwill $ 6,394 $ 75 $ (145) $ 6,324 December 31, 2019 Acquisitions Other Adjustments 1 December 31, 2020 Construction Industries Goodwill $ 306 $ — $ 14 $ 320 Impairments (22) — — (22) Net goodwill 284 — 14 298 Resource Industries Goodwill 4,156 — 97 4,253 Impairments (1,175) — — (1,175) Net goodwill 2,981 — 97 3,078 Energy & Transportation Goodwill 2,875 41 43 2,959 All Other 2 Goodwill 56 — 3 59 Consolidated total Goodwill 7,393 41 157 7,591 Impairments (1,197) — — (1,197) Net goodwill $ 6,196 $ 41 $ 157 $ 6,394 1 Other adjustments are comprised primarily of foreign currency translation. 2 Includes All Other operating segment (See Note 23).

Investments in debt and equit_2

Investments in debt and equity securities (Tables)	12 Months Ended
Investments in debt and equity securities (Tables)	Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Schedule of available-for-sale securities	The cost basis and fair value of available-for-sale debt securities with unrealized gains and losses included in equity (AOCI in Statement 3) were as follows: December 31, 2021 December 31, 2020 (Millions of dollars) Cost Unrealized Fair Cost Unrealized Fair Government debt U.S. treasury bonds $ 10 $ — $ 10 $ 10 $ — $ 10 Other U.S. and non-U.S. government bonds 61 — 61 58 1 59 Corporate bonds Corporate bonds 1,027 19 1,046 962 50 1,012 Asset-backed securities 175 1 176 156 3 159 Mortgage-backed debt securities U.S. governmental agency 319 6 325 362 12 374 Residential 4 — 4 5 — 5 Commercial 98 1 99 60 4 64 Total debt securities $ 1,694 $ 27 $ 1,721 $ 1,613 $ 70 $ 1,683
Cost basis and fair value of the available-for-sale debt securities by contractual maturity	The cost basis and fair value of available-for-sale debt securities at December 31, 2021, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to prepay and creditors may have the right to call obligations. December 31, 2021 (Millions of dollars) Cost Basis Fair Value Due in one year or less $ 120 $ 121 Due after one year through five years 750 763 Due after five years through ten years 332 337 Due after ten years 71 72 U.S. governmental agency mortgage-backed securities 319 325 Residential mortgage-backed securities 4 4 Commercial mortgage-backed securities 98 99 Total debt securities – available-for-sale $ 1,694 $ 1,721
Schedule of proceeds and gross gain and losses from the sale of available-for-sale securities	Sales of available-for-sale debt securities: Years Ended December 31, (Millions of dollars) 2021 2020 2019 Proceeds from the sale of available-for-sale securities $ 454 $ 290 $ 260 Gross gains from the sale of available-for-sale securities $ 4 $ 2 $ 1 Gross losses from the sale of available-for-sale securities $ — $ 1 $ 1

Postemployment benefit plans (T

Postemployment benefit plans (Tables)	12 Months Ended
Postemployment benefit plans (Tables)	Dec. 31, 2021
Retirement Benefits [Abstract]
Schedule of assumptions used to determine benefit obligation	U.S. Pension Benefits Non-U.S. Other Postretirement 2021 2020 2021 2020 2021 2020 Weighted-average assumptions used to determine benefit obligation, end of year: Discount rate 2.8 % 2.4 % 1.8 % 1.4 % 2.7 % 2.3 % Rate of compensation increase 1 — % — % 2.0 % 2.0 % 4.0 % 4.0 % 1 Effective December 31, 2019, all U.S. pension benefits were frozen, and accordingly this assumption is no longer applicable.
Schedule of changes in projected benefit obligations	U.S. Pension Benefits Non-U.S. Other Postretirement (Millions of dollars) 2021 2020 2021 2020 2021 2020 Accumulated benefit obligation, end of year $ 17,895 $ 19,177 $ 4,311 $ 4,680 Change in benefit obligation: Benefit obligation, beginning of year $ 19,177 $ 17,773 $ 4,847 $ 4,666 $ 4,051 $ 3,960 Service cost 1 — — 57 55 100 94 Interest cost 330 483 53 68 64 103 Plan amendments — — — 6 — (8) Actuarial losses (gains) 2 (610) 1,922 (142) 258 (211) 192 Foreign currency exchange rates — — (154) 213 (15) (25) Participant contributions — — 4 4 48 44 Benefits paid - gross (996) (997) (184) (159) (310) (317) Less: federal subsidy on benefits paid — — — — 9 8 Curtailments, settlements and termination benefits (6) (4) (45) (264) — — Benefit obligation, end of year $ 17,895 $ 19,177 $ 4,436 $ 4,847 $ 3,736 $ 4,051 Change in plan assets: Fair value of plan assets, beginning of year $ 17,589 $ 15,994 $ 4,731 $ 4,525 $ 147 $ 255 Actual return on plan assets 595 2,552 99 385 34 23 Foreign currency exchange rates — — (139) 164 — — Company contributions 45 44 84 76 211 142 Participant contributions — — 4 4 48 44 Benefits paid (996) (997) (184) (159) (310) (317) Settlements and termination benefits (6) (4) (43) (264) — — Fair value of plan assets, end of year $ 17,227 $ 17,589 $ 4,552 $ 4,731 $ 130 $ 147 Over (under) funded status $ (668) $ (1,588) $ 116 $ (116) $ (3,606) $ (3,904) Components of net amount recognized in financial position: Other assets (non-current asset) $ 592 $ 409 $ 538 $ 556 $ — $ — Accrued wages, salaries and employee benefits (current liability) (45) (44) (16) (25) (240) (186) Liability for postemployment benefits (non-current liability) 3 (1,215) (1,953) (406) (647) (3,366) (3,718) Net (liability) asset recognized $ (668) $ (1,588) $ 116 $ (116) $ (3,606) $ (3,904) Amounts recognized in Accumulated other comprehensive income (pre-tax) consist of: Prior service cost (credit) $ — $ — $ 23 $ 24 $ (5) $ (46) 1 Effective December 31, 2019, all U.S. pension benefits were frozen, and accordingly there is no longer any service cost. 2 For 2021, Actuarial loss (gain) impacting the benefit obligation was primarily due to higher discount rates at the end of 2021 compared to the end of 2020. For 2020, Actuarial loss (gain) impacting the benefit obligation was primarily due to lower discount rates at the end of 2020 compared to the end of 2019. 3 The Liability for postemployment benefits reported in Statement 3 includes our liability for other postemployment benefits and our liability for non-qualified deferred compensation plans. For 2021, these liabilities were $67 million and $538 million, respectively. For 2020, these liabilities were $63 million and $491 million, respectively.
Change in plan assets	U.S. Pension Benefits Non-U.S. Other Postretirement (Millions of dollars) 2021 2020 2021 2020 2021 2020 Accumulated benefit obligation, end of year $ 17,895 $ 19,177 $ 4,311 $ 4,680 Change in benefit obligation: Benefit obligation, beginning of year $ 19,177 $ 17,773 $ 4,847 $ 4,666 $ 4,051 $ 3,960 Service cost 1 — — 57 55 100 94 Interest cost 330 483 53 68 64 103 Plan amendments — — — 6 — (8) Actuarial losses (gains) 2 (610) 1,922 (142) 258 (211) 192 Foreign currency exchange rates — — (154) 213 (15) (25) Participant contributions — — 4 4 48 44 Benefits paid - gross (996) (997) (184) (159) (310) (317) Less: federal subsidy on benefits paid — — — — 9 8 Curtailments, settlements and termination benefits (6) (4) (45) (264) — — Benefit obligation, end of year $ 17,895 $ 19,177 $ 4,436 $ 4,847 $ 3,736 $ 4,051 Change in plan assets: Fair value of plan assets, beginning of year $ 17,589 $ 15,994 $ 4,731 $ 4,525 $ 147 $ 255 Actual return on plan assets 595 2,552 99 385 34 23 Foreign currency exchange rates — — (139) 164 — — Company contributions 45 44 84 76 211 142 Participant contributions — — 4 4 48 44 Benefits paid (996) (997) (184) (159) (310) (317) Settlements and termination benefits (6) (4) (43) (264) — — Fair value of plan assets, end of year $ 17,227 $ 17,589 $ 4,552 $ 4,731 $ 130 $ 147 Over (under) funded status $ (668) $ (1,588) $ 116 $ (116) $ (3,606) $ (3,904) Components of net amount recognized in financial position: Other assets (non-current asset) $ 592 $ 409 $ 538 $ 556 $ — $ — Accrued wages, salaries and employee benefits (current liability) (45) (44) (16) (25) (240) (186) Liability for postemployment benefits (non-current liability) 3 (1,215) (1,953) (406) (647) (3,366) (3,718) Net (liability) asset recognized $ (668) $ (1,588) $ 116 $ (116) $ (3,606) $ (3,904) Amounts recognized in Accumulated other comprehensive income (pre-tax) consist of: Prior service cost (credit) $ — $ — $ 23 $ 24 $ (5) $ (46) 1 Effective December 31, 2019, all U.S. pension benefits were frozen, and accordingly there is no longer any service cost. 2 For 2021, Actuarial loss (gain) impacting the benefit obligation was primarily due to higher discount rates at the end of 2021 compared to the end of 2020. For 2020, Actuarial loss (gain) impacting the benefit obligation was primarily due to lower discount rates at the end of 2020 compared to the end of 2019. 3 The Liability for postemployment benefits reported in Statement 3 includes our liability for other postemployment benefits and our liability for non-qualified deferred compensation plans. For 2021, these liabilities were $67 million and $538 million, respectively. For 2020, these liabilities were $63 million and $491 million, respectively.
Defined benefit plan funded status, components of net amount recognized in financial position and accumulated other comprehensive income	U.S. Pension Benefits Non-U.S. Other Postretirement (Millions of dollars) 2021 2020 2021 2020 2021 2020 Accumulated benefit obligation, end of year $ 17,895 $ 19,177 $ 4,311 $ 4,680 Change in benefit obligation: Benefit obligation, beginning of year $ 19,177 $ 17,773 $ 4,847 $ 4,666 $ 4,051 $ 3,960 Service cost 1 — — 57 55 100 94 Interest cost 330 483 53 68 64 103 Plan amendments — — — 6 — (8) Actuarial losses (gains) 2 (610) 1,922 (142) 258 (211) 192 Foreign currency exchange rates — — (154) 213 (15) (25) Participant contributions — — 4 4 48 44 Benefits paid - gross (996) (997) (184) (159) (310) (317) Less: federal subsidy on benefits paid — — — — 9 8 Curtailments, settlements and termination benefits (6) (4) (45) (264) — — Benefit obligation, end of year $ 17,895 $ 19,177 $ 4,436 $ 4,847 $ 3,736 $ 4,051 Change in plan assets: Fair value of plan assets, beginning of year $ 17,589 $ 15,994 $ 4,731 $ 4,525 $ 147 $ 255 Actual return on plan assets 595 2,552 99 385 34 23 Foreign currency exchange rates — — (139) 164 — — Company contributions 45 44 84 76 211 142 Participant contributions — — 4 4 48 44 Benefits paid (996) (997) (184) (159) (310) (317) Settlements and termination benefits (6) (4) (43) (264) — — Fair value of plan assets, end of year $ 17,227 $ 17,589 $ 4,552 $ 4,731 $ 130 $ 147 Over (under) funded status $ (668) $ (1,588) $ 116 $ (116) $ (3,606) $ (3,904) Components of net amount recognized in financial position: Other assets (non-current asset) $ 592 $ 409 $ 538 $ 556 $ — $ — Accrued wages, salaries and employee benefits (current liability) (45) (44) (16) (25) (240) (186) Liability for postemployment benefits (non-current liability) 3 (1,215) (1,953) (406) (647) (3,366) (3,718) Net (liability) asset recognized $ (668) $ (1,588) $ 116 $ (116) $ (3,606) $ (3,904) Amounts recognized in Accumulated other comprehensive income (pre-tax) consist of: Prior service cost (credit) $ — $ — $ 23 $ 24 $ (5) $ (46) 1 Effective December 31, 2019, all U.S. pension benefits were frozen, and accordingly there is no longer any service cost. 2 For 2021, Actuarial loss (gain) impacting the benefit obligation was primarily due to higher discount rates at the end of 2021 compared to the end of 2020. For 2020, Actuarial loss (gain) impacting the benefit obligation was primarily due to lower discount rates at the end of 2020 compared to the end of 2019. 3 The Liability for postemployment benefits reported in Statement 3 includes our liability for other postemployment benefits and our liability for non-qualified deferred compensation plans. For 2021, these liabilities were $67 million and $538 million, respectively. For 2020, these liabilities were $63 million and $491 million, respectively.
Schedule of pension plans with projected benefit obligation in excess of plan assets for all U.S and Non U.S Pension benefits	U.S. Pension Benefits Non-U.S. (Millions of dollars) 2021 2020 2021 2020 Pension plans with projected benefit obligation in excess of plan assets: Projected benefit obligation $ 14,403 $ 15,300 $ 743 $ 2,171 Fair value of plan assets $ 13,143 $ 13,302 $ 319 $ 1,499 Pension plans with accumulated benefit obligation in excess of plan assets: Accumulated benefit obligation $ 14,403 $ 15,300 $ 603 $ 1,988 Fair value of plan assets $ 13,143 $ 13,302 $ 234 $ 1,425
Components of net periodic benefit cost, other changes in plan assets and benefits obligations recognized in other comprehensive income and weighted-average assumptions used to determine net cost	U.S. Pension Benefits Non-U.S. Pension Benefits Other Postretirement Benefits (Millions of dollars) 2021 2020 2019 2021 2020 2019 2021 2020 2019 Components of net periodic benefit cost: Service cost 1 $ — $ — $ 115 $ 57 $ 55 $ 80 $ 100 $ 94 $ 80 Interest cost 330 483 600 53 68 94 64 103 136 Expected return on plan assets (718) (791) (721) (128) (135) (148) (6) (12) (18) Curtailments, settlements and termination benefits — (1) (1) (1) 30 (7) — — — Amortization of prior service cost (credit) — — — — — — (40) (38) (40) Actuarial loss (gain) 2 (487) 162 72 (115) 32 90 (231) 189 306 Net Periodic benefit cost (benefit) 3 $ (875) $ (147) $ 65 $ (134) $ 50 $ 109 $ (113) $ 336 $ 464 Other changes in plan assets and benefit obligations recognized in other comprehensive income (pre-tax): Current year prior service cost (credit) $ — $ — $ — $ — $ 8 $ (4) $ — $ (7) $ 8 Amortization of prior service (cost) credit — — — — — — 40 38 40 Total recognized in other comprehensive income — — — — 8 (4) 40 31 48 Total recognized in net periodic cost and other comprehensive income $ (875) $ (147) $ 65 $ (134) $ 58 $ 105 $ (73) $ 367 $ 512 Weighted-average assumptions used to determine net periodic benefit cost: Discount rate used to measure service cost 1 — % — % 4.3 % 1.4 % 1.5 % 2.5 % 2.5 % 3.2 % 4.1 % Discount rate used to measure interest cost 1.8 % 2.8 % 3.9 % 1.2 % 1.7 % 2.3 % 1.6 % 2.8 % 3.9 % Expected rate of return on plan assets 4 4.2 % 5.1 % 5.9 % 2.9 % 3.3 % 3.8 % 6.5 % 7.0 % 7.2 % Rate of compensation increase 1 — % — % 4.0 % 2.0 % 2.0 % 3.0 % 4.0 % 4.0 % 4.1 % 1 Effective December 31, 2019, all U.S. pension benefits were frozen, and accordingly there is no longer any service cost and certain assumptions are no longer applicable. 2 Actuarial loss (gain) represents the effects of actual results differing from our assumptions and the effects of changing assumptions. We recognize actuarial loss (gain) immediately through earnings upon the annual remeasurement in the fourth quarter, or on an interim basis as triggering events warrant remeasurement. 3 The service cost component is included in Operating costs and all other components are included in Other income (expense) in Statement 1. 4 The weighted-average rates for 2022 are 4.0 percent and 3.1 percent for U.S. and non-U.S. pension plans, respectively.
Schedule of expected contributions, expected benefit payments and gross prescription drug subsidy receipts	The following table presents information about expected contributions and benefit payments for pension and other postretirement benefit plans: (Millions of dollars) 2022 Expected employer contributions: U.S. Pension Benefits $ 46 Non-U.S. Pension Benefits $ 55 Other Postretirement Benefits $ 256 Expected benefit payments: 2022 2023 2024 2025 2026 2027- Total U.S. Pension Benefits $ 1,035 $ 1,020 $ 1,020 $ 1,020 $ 1,020 $ 4,960 $ 10,075 Non-U.S. Pension Benefits $ 210 $ 175 $ 180 $ 185 $ 195 $ 1,045 $ 1,990 Other Postretirement Benefits $ 275 $ 270 $ 265 $ 260 $ 260 $ 1,250 $ 2,580 Expected Medicare Part D subsidy: $ 7 $ 7 $ 7 $ 7 $ 6 $ 26 $ 60
Fair value of pension and other postretirement benefit plan assets, by category	The fair value of the pension and other postretirement benefit plan assets by category is summarized below: December 31, 2021 (Millions of dollars) Level 1 Level 2 Level 3 Measured at NAV Total Assets at Fair Value U.S. Pension Equity securities: U.S. equities $ 1,644 $ 25 $ 23 $ 149 $ 1,841 Non-U.S. equities 1,398 — 2 — 1,400 Fixed income securities: U.S. corporate bonds — 7,289 40 37 7,366 Non-U.S. corporate bonds — 1,569 — — 1,569 U.S. government bonds — 4,341 — — 4,341 U.S. governmental agency mortgage-backed securities — 24 — — 24 Non-U.S. government bonds — 172 — — 172 Real estate — — 7 — 7 Cash, short-term instruments and other 228 60 — 219 507 Total U.S. pension assets $ 3,270 $ 13,480 $ 72 $ 405 $ 17,227 December 31, 2020 (Millions of dollars) Level 1 Level 2 Level 3 Measured at NAV Total Assets at Fair Value U.S. Pension Equity securities: U.S. equities $ 2,292 $ 5 $ 28 $ 133 $ 2,458 Non-U.S. equities 1,838 — 1 — 1,839 Fixed income securities: U.S. corporate bonds — 7,395 53 119 7,567 Non-U.S. corporate bonds — 1,372 — — 1,372 U.S. government bonds — 3,618 — — 3,618 U.S. governmental agency mortgage-backed securities — 27 — — 27 Non-U.S. government bonds — 133 — — 133 Real estate — — 9 — 9 Cash, short-term instruments and other 363 22 — 181 566 Total U.S. pension assets $ 4,493 $ 12,572 $ 91 $ 433 $ 17,589 December 31, 2021 (Millions of dollars) Level 1 Level 2 Level 3 Measured at NAV Total Assets at Fair Value Non-U.S. Pension Equity securities: U.S. equities $ 72 $ — $ — $ — $ 72 Non-U.S. equities 266 32 — 37 335 Global equities 1 31 15 — 46 92 Fixed income securities: U.S. corporate bonds — 327 — — 327 Non-U.S. corporate bonds — 889 — — 889 U.S. government bonds — 152 — — 152 Non-U.S. government bonds — 1,752 — — 1,752 Global fixed income 1 — 88 — 297 385 Real estate — 225 — — 225 Cash, short-term instruments and other 2 56 267 — — 323 Total non-U.S. pension assets $ 425 $ 3,747 $ — $ 380 $ 4,552 December 31, 2020 (Millions of dollars) Level 1 Level 2 Level 3 Measured at NAV Total Assets at Fair Value Non-U.S. Pension Equity securities: U.S. equities $ 97 $ — $ — $ — $ 97 Non-U.S. equities 368 33 — 50 451 Global equities 1 29 17 — 49 95 Fixed income securities: U.S. corporate bonds — 314 — — 314 Non-U.S. corporate bonds — 987 — — 987 U.S. government bonds — 2 — — 2 Non-U.S. government bonds — 1,743 — — 1,743 Global fixed income 1 — 131 — 325 456 Real estate — 239 — — 239 Cash, short-term instruments and other 2 71 276 — — 347 Total non-U.S. pension assets $ 565 $ 3,742 $ — $ 424 $ 4,731 1 Includes funds that invest in both U.S. and non-U.S. securities. 2 Includes funds that invest in multiple asset classes, hedge funds and other. December 31, 2021 (Millions of dollars) Level 1 Level 2 Level 3 Measured at NAV Total Assets at Fair Value Other Postretirement Benefits Equity securities: U.S. equities $ 49 $ — $ — $ — $ 49 Non-U.S. equities 17 — — — 17 Cash, short-term instruments and other — 2 — 62 64 Total other postretirement benefit assets $ 66 $ 2 $ — $ 62 $ 130 December 31, 2020 (Millions of dollars) Level 1 Level 2 Level 3 Measured at NAV Total Assets at Fair Value Other Postretirement Benefits Equity securities: U.S. equities $ 88 $ — $ — $ — $ 88 Non-U.S. equities 21 — — — 21 Fixed income securities: U.S. corporate bonds — 11 — 1 12 Non-U.S. corporate bonds — 2 — — 2 U.S. government bonds — 3 — — 3 U.S. governmental agency mortgage-backed securities — 6 — — 6 Non-U.S. government bonds — 3 — — 3 Cash, short-term instruments and other — 2 — 10 12 Total other postretirement benefit assets $ 109 $ 27 $ — $ 11 $ 147
Company costs related to U.S. and non-U.S. defined contribution plans	Total company costs related to U.S. and non-U.S. defined contribution plans were as follows: (Millions of dollars) 2021 2020 2019 U.S. plans $ 440 $ 384 $ 414 Non-U.S. plans 114 89 83 $ 554 $ 473 $ 497

Short-term borrowings (Tables)

Short-term borrowings (Tables)	12 Months Ended
Short-term borrowings (Tables)	Dec. 31, 2021
Short-term Debt [Abstract]
Short-term borrowings	December 31, (Millions of dollars) 2021 2020 Machinery, Energy & Transportation: Notes payable to banks $ 9 $ 10 9 10 Financial Products: Notes payable to banks 213 307 Commercial paper 4,896 1,321 Demand notes 286 377 5,395 2,005 Total short-term borrowings $ 5,404 $ 2,015 The weighted-average interest rates on short-term borrowings outstanding were: December 31, 2021 2020 Notes payable to banks 4.4 % 3.7 % Commercial paper 0.1 % 0.1 % Demand notes 0.2 % 0.3 %

Long-term debt (Tables)

Long-term debt (Tables)	12 Months Ended
Long-term debt (Tables)	Dec. 31, 2021
Debt Disclosure [Abstract]
Long-term debt	December 31, (Millions of dollars) Effective Yield to Maturity 1 2021 2020 Machinery, Energy & Transportation: Notes—$759 million of 5.200% due 2041 2 5.27% $ 752 $ 752 Debentures—$500 million of 2.600% due 2022 2 2.70% — 499 Debentures—$82 million of 8.000% due 2023 8.06% 82 82 Debentures—$1,000 million of 3.400% due 2024 3.46% 999 998 Debentures—$193 million of 6.625% due 2028 2 6.68% 192 192 Debentures—$500 million of 2.600% due 2029 2 2.67% 498 497 Debentures—$800 million of 2.600% due 2030 2 2.72% 793 793 Debentures—$500 million of 1.900% due 2031 2 2.04% 495 — Debentures—$242 million of 7.300% due 2031 2 7.38% 240 240 Debentures—$307 million of 5.300% due 2035 2 8.64% 226 223 Debentures—$460 million of 6.050% due 2036 2 6.12% 456 456 Debentures—$65 million of 8.250% due 2038 2 8.38% 64 64 Debentures—$160 million of 6.950% due 2042 2 7.02% 158 158 Debentures—$1,722 million of 3.803% due 2042 2 6.39% 1,316 1,296 Debentures—$500 million of 4.300% due 2044 4.39% 493 493 Debentures—$1,000 million of 3.250% due 2049 2 3.34% 983 983 Debentures—$1,200 million of 3.250% due 2050 2 3.32% 1,185 1,185 Debentures—$500 million of 4.750% due 2064 4.81% 494 494 Debentures—$246 million of 7.375% due 2097 2 7.51% 241 241 Finance lease obligations & other 79 103 Total Machinery, Energy & Transportation 9,746 9,749 Financial Products: Medium-term notes 16,127 16,012 Other 160 238 Total Financial Products 16,287 16,250 Total long-term debt due after one year $ 26,033 $ 25,999 1 Effective yield to maturity includes the impact of discounts, premiums and debt issuance costs. 2 Redeemable at our option in whole or in part at any time at a redemption price equal to the greater of (i) 100% of the principal amount or (ii) the discounted present value of the notes or debentures, calculated in accordance with the terms of such notes or debentures.
Aggregate amounts of maturities of long-term debt	The aggregate amounts of maturities of long-term debt during each of the years 2022 through 2026, including amounts due within one year and classified as current, are: December 31, (Millions of dollars) 2022 2023 2024 2025 2026 Machinery, Energy & Transportation $ 45 $ 103 $ 1,013 $ 10 $ 6 Financial Products 6,307 5,221 7,129 1,629 1,555 $ 6,352 $ 5,324 $ 8,142 $ 1,639 $ 1,561

Credit commitments (Tables)

Credit commitments (Tables)	12 Months Ended
Credit commitments (Tables)	Dec. 31, 2021
Credit Commitments [Abstract]
Credit commitments	December 31, 2021 (Millions of dollars) Consolidated Machinery, Financial Credit lines available: Global credit facilities $ 10,500 $ 2,750 $ 7,750 Other external 3,251 184 3,067 Total credit lines available 13,751 2,934 10,817 Less: Commercial paper outstanding (4,896) — (4,896) Less: Utilized credit (568) (9) (559) Available credit $ 8,287 $ 2,925 $ 5,362

Profit per share (Tables)

Profit per share (Tables)	12 Months Ended
Profit per share (Tables)	Dec. 31, 2021
Earnings Per Share [Abstract]
Computations of Profit Per Share	Computations of profit per share: (Dollars in millions except per share data) 2021 2020 2019 Profit for the period (A) 1 $ 6,489 $ 2,998 $ 6,093 Determination of shares (in millions): Weighted average number of common shares outstanding (B) 544.0 544.1 561.6 Shares issuable on exercise of stock awards, net of shares assumed to be purchased out of proceeds at average market price 4.5 4.5 5.9 Average common shares outstanding for fully diluted computation (C) 2 548.5 548.6 567.5 Profit per share of common stock: Assuming no dilution (A/B) $ 11.93 $ 5.51 $ 10.85 Assuming full dilution (A/C) 2 $ 11.83 $ 5.46 $ 10.74 Shares outstanding as of December 31 (in millions) 535.9 545.3 550.1 1 Profit attributable to common shareholders. 2 Diluted by assumed exercise of stock-based compensation awards using the treasury stock method.

Accumulated other comprehensi_2

Accumulated other comprehensive income (loss) (Tables)	12 Months Ended
Accumulated other comprehensive income (loss) (Tables)	Dec. 31, 2021
Equity [Abstract]
Schedule of Accumulated other comprehensive income (loss)	Changes in the balances for each component of Accumulated other comprehensive income (loss) were as follows: (Millions of dollars) 2021 2020 2019 Foreign currency translation: Beginning balance $ (910) $ (1,487) $ (1,601) Adjustments to adopt new accounting guidance related to reclassification of certain tax effects from AOCI — — 98 Balance at January 1 (910) (1,487) (1,503) Gains (losses) on foreign currency translation (559) 513 21 Less: Tax provision /(benefit) 41 (42) 5 Net gains (losses) on foreign currency translation (600) 555 16 (Gains) losses reclassified to earnings 2 22 — Less: Tax provision /(benefit) — — — Net (gains) losses reclassified to earnings 2 22 — Other comprehensive income (loss), net of tax (598) 577 16 Ending balance $ (1,508) $ (910) $ (1,487) Pension and other postretirement benefits Beginning balance $ (32) $ (3) $ 12 Adjustments to adopt new accounting guidance related to reclassification of certain tax effects from AOCI — — 19 Balance at January 1 (32) (3) 31 Current year prior service credit (cost) — (1) (4) Less: Tax provision /(benefit) — — — Net current year prior service credit (cost) — (1) (4) Amortization of prior service (credit) cost (40) (38) (40) Less: Tax provision /(benefit) (10) (10) (10) Net amortization of prior service (credit) cost (30) (28) (30) Other comprehensive income (loss), net of tax (30) (29) (34) Ending balance $ (62) $ (32) $ (3) Derivative financial instruments Beginning balance $ — $ (97) $ (80) Adjustments to adopt new accounting guidance related to reclassification of certain tax effects from AOCI — — (9) Balance at January 1 — (97) (89) Gains (losses) deferred 195 (116) 57 Less: Tax provision /(benefit) 21 (25) 14 Net gains (losses) deferred 174 (91) 43 (Gains) losses reclassified to earnings (196) 241 (66) Less: Tax provision /(benefit) (19) 53 (15) Net (gains) losses reclassified to earnings (177) 188 (51) Other comprehensive income (loss), net of tax (3) 97 (8) Ending balance $ (3) $ — $ (97) 2021 2020 2019 Available-for-sale securities Beginning balance $ 54 $ 20 $ (15) Adjustments to adopt recognition and measurement of financial assets and liabilities guidance — — — Balance at January 1 54 20 (15) Gains (losses) deferred (39) 45 45 Less: Tax provision /(benefit) (8) 10 10 Net gains (losses) deferred (31) 35 35 (Gains) losses reclassified to earnings (4) (1) — Less: Tax provision /(benefit) (1) — — Net (gains) losses reclassified to earnings (3) (1) — Other comprehensive income (loss), net of tax (34) 34 35 Ending balance $ 20 $ 54 $ 20 Total AOCI Ending Balance at December 31 $ (1,553) $ (888) $ (1,567)

Fair value disclosures (Tables)

Fair value disclosures (Tables)	12 Months Ended
Fair value disclosures (Tables)	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Assets and liabilities measured on a recurring basis at fair value	Assets and liabilities measured on a recurring basis at fair value, primarily related to Financial Products, included in Statement 3 as of December 31, 2021 and 2020 were as follows: December 31, 2021 (Millions of dollars) Level 1 Level 2 Level 3 Measured at NAV Total Assets Debt securities Government debt U.S. treasury bonds $ 10 $ — $ — $ — $ 10 Other U.S. and non-U.S. government bonds — 61 — — 61 Corporate bonds Corporate bonds — 1,046 — — 1,046 Asset-backed securities — 176 — — 176 Mortgage-backed debt securities U.S. governmental agency — 325 — — 325 Residential — 4 — — 4 Commercial — 99 — — 99 Total debt securities 10 1,711 — — 1,721 Equity securities Large capitalization value 217 — — — 217 Smaller company growth 98 — — — 98 REIT — — — 167 167 Total equity securities 315 — — 167 482 Derivative financial instruments - assets Foreign currency contracts - net — 168 — — 168 Interest rate contracts - net — 23 — — 23 Commodity contracts - net — 21 — — 21 Total Assets $ 325 $ 1,923 $ — $ 167 $ 2,415 December 31, 2020 (Millions of dollars) Level 1 Level 2 Level 3 Measured at NAV Total Assets Debt securities Government debt U.S. treasury bonds $ 10 $ — $ — $ — $ 10 Other U.S. and non-U.S. government bonds — 59 — — 59 Corporate bonds Corporate bonds — 1,012 — — 1,012 Asset-backed securities — 159 — — 159 Mortgage-backed debt securities U.S. governmental agency — 374 — — 374 Residential — 5 — — 5 Commercial — 64 — — 64 Total debt securities 10 1,673 — — 1,683 Equity securities Large capitalization value 199 — — — 199 Smaller company growth 58 — — — 58 REIT — — — 148 148 Total equity securities 257 — — 148 405 Derivative financial instruments - assets Interest rate contracts - net — 58 — — 58 Commodity contracts - net — 37 — — 37 Total Assets $ 267 $ 1,768 $ — $ 148 $ 2,183 Liabilities Derivative financial instruments - liabilities Foreign currency contracts - net $ — $ 112 $ — $ — $ 112 Total Liabilities $ — $ 112 $ — $ — $ 112
Fair values of financial instruments	Our financial instruments not carried at fair value were as follows: 2021 2020 (Millions of dollars) Carrying Fair Carrying Fair Fair Value Levels Reference Assets at December 31, Finance receivables–net (excluding finance leases 1 ) $ 13,837 $ 13,836 $ 14,028 $ 14,357 3 Notes 7 & 19 Wholesale inventory receivables–net (excluding finance leases 1 ) 773 753 929 911 3 Notes 7 & 19 Liabilities at December 31, Long-term debt (including amounts due within one year): Machinery, Energy & Transportation 9,791 12,420 11,169 14,549 2 Note 14 Financial Products 22,594 22,797 23,979 24,614 2 Note 14 1 Represents finance leases and failed sale leasebacks of $8,083 million and $7,961 million at December 31, 2021 and 2020, respectively.

Leases (Tables)

Leases (Tables)	12 Months Ended
Leases (Tables)	Dec. 31, 2021
Leases [Abstract]
Lease, Cost	The components of lease costs were as follows: (Millions of dollars) Year Ended December 31, 2021 2020 Operating lease cost $ 214 $ 204 Short-term lease cost $ 46 $ 50
Schedule of Supplemental Balance Sheet Information Related to Leases	Supplemental information related to leases was as follows: (Millions of dollars) December 31, 2021 December 31, 2020 Operating Leases Other assets $ 625 $ 603 Other current liabilities $ 158 $ 163 Other liabilities $ 484 $ 457 Weighted average remaining lease term Operating leases 7 years 7 years Weighted average discount rates Operating leases 2 % 2 %
Schedule of Maturities of Operating and Finance Leases Liabilities	Maturities of operating lease liabilities were as follows: (Millions of dollars) December 31, 2021 Amounts Due In 2022 $ 165 2023 126 2024 94 2025 69 2026 51 Thereafter 190 Total lease payments 695 Less: Imputed interest (53) Total $ 642
Schedule of Supplemental Cash Flow Information Related to Leases	Supplemental cash flow information related to leases was as follows: (Millions of dollars) Year ended December 31 2021 2020 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 206 $ 201 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 238 $ 178
Schedule of Equipment under Operating Leases	The carrying amount of equipment leased to others, included in Property, plant and equipment - net in Statement 3, under operating leases was as follows: December 31, (Millions of dollars) 2021 2020 Equipment leased to others - at original cost $ 5,733 $ 6,077 Less: Accumulated depreciation (1,870) (2,035) Equipment leased to others - net $ 3,863 $ 4,042
Lessor, Operating Lease, Payments to be Received, Maturity	Payments due for operating leases as of December 31, 2021, were as follows: (Millions of dollars) 2022 2023 2024 2025 2026 Thereafter Total $761 $478 $272 $145 $56 $28 $1,740
Revenue from finance and operating lease	Revenues from finance and operating leases, primarily included in Revenues of Financial Products on Statement 1, were as follows: (Millions of dollars) Year ended December 31 2021 2020 Finance lease revenue $ 485 $ 492 Operating lease revenue 1,128 1,124 Total $ 1,613 $ 1,616

Guarantees and product warran_2

Guarantees and product warranty (Tables)	12 Months Ended
Guarantees and product warranty (Tables)	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Guarantees	The maximum potential amount of future payments (undiscounted and without reduction for any amounts that may possibly be recovered under recourse or collateralized provisions) we could be required to make under the guarantees at December 31 was as follows: (Millions of dollars) 2021 2020 Caterpillar dealer performance guarantees $ 747 $ 993 Supplier consortium performance guarantee 242 258 Other guarantees 232 234 Total guarantees $ 1,221 $ 1,485
Product warranty	The reconciliation of the change in our product warranty liability balances for the years ended December 31 was as follows: (Millions of dollars) 2021 2020 Warranty liability, beginning of period $ 1,612 $ 1,541 Reduction in liability (payments) (854) (897) Increase in liability (new warranties) 931 968 Warranty liability, end of period $ 1,689 $ 1,612

Segment Information (Tables)

Segment Information (Tables)	12 Months Ended
Segment Information (Tables)	Dec. 31, 2021
Reconciliation of Sales and revenues
Disaggregation of Revenue	For the years ended December 31, 2021, 2020 and 2019, 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 2021 Construction Industries $ 9,676 $ 1,913 $ 4,858 $ 5,547 $ 21,994 $ 112 $ 22,106 Resource Industries 2,987 1,724 1,987 2,804 $ 9,502 461 9,963 Energy & Transportation 7,611 1,233 4,908 2,918 $ 16,670 3,617 20,287 Financial Products Segment 1,935 265 402 471 $ 3,073 1 — 3,073 Total sales and revenues from reportable segments 22,209 5,135 12,155 11,740 51,239 4,190 55,429 All Other operating segment 56 2 18 69 145 366 511 Corporate Items and Eliminations (242) (51) (36) (84) (413) (4,556) (4,969) Total Sales and Revenues $ 22,023 $ 5,086 $ 12,137 $ 11,725 $ 50,971 $ — $ 50,971 2020 Construction Industries $ 7,365 $ 1,031 $ 3,466 $ 5,014 $ 16,876 $ 42 $ 16,918 Resource Industries 2,286 1,253 1,570 2,337 7,446 460 7,906 Energy & Transportation 6,843 932 4,448 2,441 14,664 2,806 17,470 Financial Products Segment 1,930 257 392 465 3,044 1 — 3,044 Total sales and revenues from reportable segments 18,424 3,473 9,876 10,257 42,030 3,308 45,338 All Other operating segment 27 4 26 56 113 354 467 Corporate Items and Eliminations (237) (45) (44) (69) (395) (3,662) (4,057) Total Sales and Revenues $ 18,214 $ 3,432 $ 9,858 $ 10,244 $ 41,748 $ — $ 41,748 2019 Construction Industries $ 11,455 $ 1,533 $ 4,012 $ 5,556 $ 22,556 $ 93 $ 22,649 Resource Industries 3,632 1,533 1,836 2,812 9,813 463 10,276 Energy & Transportation 8,864 1,389 4,994 3,238 18,485 3,612 22,097 Financial Products Segment 2,235 299 408 492 3,434 1 — 3,434 Total sales and revenues from reportable segments 26,186 4,754 11,250 12,098 54,288 4,168 58,456 All Other operating segment 25 7 28 67 127 373 500 Corporate Items and Eliminations (426) (51) (55) (83) (615) (4,541) (5,156) Total Sales and Revenues $ 25,785 $ 4,710 $ 11,223 $ 12,082 $ 53,800 $ — $ 53,800 1 Includes revenues from Construction Industries, Resource Industries, Energy & Transportation and All Other operating segment of $351 million , $362 million and $524 million in the years ended December 31, 2021, 2020 and 2019, respectively. For the years ended December 31, 2021, 2020 and 2019, Energy & Transportation segment sales by end user application were as follows: Energy & Transportation External Sales (Millions of dollars) 2021 2020 2019 Oil and gas $ 4,460 $ 3,701 $ 5,205 Power generation 4,292 3,963 4,474 Industrial 3,612 2,945 3,749 Transportation 4,306 4,055 5,057 Energy & Transportation External Sales $ 16,670 $ 14,664 $ 18,485
Reconciliation of Consolidated profit before taxes:	Reconciliation of Consolidated profit before taxes: (Millions of dollars) 2021 2020 2019 Profit from reportable segments: Construction Industries $ 3,706 $ 2,373 $ 3,931 Resource Industries 1,291 896 1,629 Energy & Transportation 2,768 2,405 3,910 Financial Products Segment 908 590 832 Total profit from reportable segments 8,673 6,264 10,302 Profit from All Other operating segment (14) 28 4 Cost centers (4) (4) (6) Corporate costs (699) (517) (607) Timing (263) (106) (93) Restructuring costs (90) (241) (207) Methodology differences: Inventory/cost of sales 122 4 (19) Postretirement benefit income (expense) 1,171 (173) (401) Stock-based compensation expense (199) (202) (205) Financing costs (449) (444) (248) Currency 258 (266) (175) Other income/expense methodology differences (267) (322) (481) Other methodology differences (35) (26) (52) Total consolidated profit before taxes $ 8,204 $ 3,995 $ 7,812
Reconciliation of Assets:	Reconciliation of Assets: (Millions of dollars) December 31, 2021 2020 Assets from reportable segments: Construction Industries $ 4,547 $ 4,259 Resource Industries 5,962 6,035 Energy & Transportation 9,253 8,582 Financial Products Segment 34,860 34,278 Total assets from reportable segments 54,622 53,154 Assets from All Other operating segment 1,678 1,717 Items not included in segment assets: Cash and cash equivalents 8,428 8,822 Deferred income taxes 1,735 1,413 Goodwill and intangible assets 4,859 4,847 Property, plant and equipment – net and other assets 4,056 2,833 Inventory methodology differences (2,656) (2,536) Liabilities included in segment assets 10,777 8,466 Other (706) (392) Total assets $ 82,793 $ 78,324
Reconciliation of Depreciation and amortization:	Reconciliation of Depreciation and amortization: (Millions of dollars) 2021 2020 2019 Depreciation and amortization from reportable segments: Construction Industries $ 237 $ 245 $ 302 Resource Industries 403 418 450 Energy & Transportation 571 593 624 Financial Products Segment 772 773 829 Total depreciation and amortization from reportable segments 1,983 2,029 2,205 Items not included in segment depreciation and amortization: All Other operating segment 243 267 210 Cost centers 98 126 135 Other 28 10 27 Total depreciation and amortization $ 2,352 $ 2,432 $ 2,577
Reconciliation of Capital expenditures:	Reconciliation of Capital expenditures: (Millions of dollars) 2021 2020 2019 Capital expenditures from reportable segments: Construction Industries $ 255 $ 213 $ 201 Resource Industries 199 125 168 Energy & Transportation 627 495 613 Financial Products Segment 1,218 1,100 1,534 Total capital expenditures from reportable segments 2,299 1,933 2,516 Items not included in segment capital expenditures: All Other operating segment 182 156 131 Cost centers 56 47 101 Timing (74) 19 (11) Other 9 (40) (68) Total capital expenditures $ 2,472 $ 2,115 $ 2,669
Information about Geographic Areas	Enterprise-wide Disclosures: Information about Geographic Areas: Property, plant and equipment - net External sales and revenues 1 December 31, (Millions of dollars) 2021 2020 2019 2021 2020 Inside United States $ 19,298 $ 16,269 $ 22,806 $ 7,035 $ 7,242 Outside United States 31,673 25,479 30,994 5,055 5,159 Total $ 50,971 $ 41,748 $ 53,800 $ 12,090 $ 12,401 1 Sales of ME&T are based on dealer or customer location. Revenues from services provided are based on where service is rendered.

Restructuring Costs (Tables)

Restructuring Costs (Tables)	12 Months Ended
Restructuring Costs (Tables)	Dec. 31, 2021
Restructuring Charges [Abstract]
Restructuring and Related Costs	Restructuring costs for 2021, 2020 and 2019 were as follows: (Millions of dollars) 2021 2020 2019 Employee separations 1 $ 92 $ 271 $ 48 Contract terminations 1 2 2 1 Long-lived asset impairments 1 (63) 38 65 Other 2 59 43 122 Total restructuring costs $ 90 $ 354 $ 236 1 Recognized in Other operating (income) expenses. 2 Represents costs related to our restructuring programs, primarily for accelerated depreciation, inventory write-downs, project management, equipment relocation and building demolition, all of which are primarily included in Cost of goods sold. (Millions of dollars) 2021 2020 2019 Construction Industries $ — $ 13 $ 4 Resource Industries — 19 5 Energy & Transportation — 55 7 Financial Products Segment — — —
Summary of separation activity	The following table summarizes the 2021 and 2020 employee separation activity: (Millions of dollars) 2021 2020 Liability balance, beginning of period $ 164 $ 48 Increase in liability (separation charges) 92 271 Reduction in liability (payments) (195) (155) Liability balance, end of period $ 61 $ 164

Operations and summary of sig_3

Operations and summary of significant accounting policies (Details) $ in Millions	12 Months Ended
	Dec. 31, 2021USD ($)dealerscountriesdistributors	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Operations and summary of significant accounting policies
Number of countries served by dealers	193
Percentage of value of inventories on the LIFO basis to total inventories	60.00%
Maximum amortizable period of purchased intangibles (in years)	14 years	14 years
Incremental value of inventory if FIFO method had been in use \| $	$ 2,599	$ 2,132
Consolidated depreciation expense \| $	2,050	2,122	$ 2,253
Depreciation on equipment leased to others \| $	$ 755	$ 758	$ 813
Inside United States
Operations and summary of significant accounting policies
Number of dealers \| dealers	44
Countries Outside United States
Operations and summary of significant accounting policies
Number of dealers \| dealers	116
Perkins
Operations and summary of significant accounting policies
Number of countries where distributors are located	171
Number of distributors \| distributors	90
FG Wilson
Operations and summary of significant accounting policies
Number of countries where distributors are located	109
Number of distributors \| distributors	110
MaK
Operations and summary of significant accounting policies
Number of countries where distributors are located	130
Number of distributors \| distributors	20
Maximum
Operations and summary of significant accounting policies
Maximum amortizable period of purchased intangibles (in years)	20 years

Operations and summary of sig_4

Operations and summary of significant accounting policies (Details 2- Basis of presentation)	Dec. 31, 2021
Equity investment method and Variable Interest Entity
Ownership percentage of investments in companies below which the entity must exercise significant influence in order to be accounted for under the equity method	20.00%
Minimum
Equity investment method and Variable Interest Entity
Equity Method Investment, Ownership Percentage	20.00%

Sales and revenue recognition (

Sales and revenue recognition (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Revenue from External Customer [Line Items]
Revenue, Remaining Performance Obligation, Amount	$ 6,400
Contract with Customer, Receivable, after Allowance for Credit Loss, Current	7,267	$ 6,310	$ 7,648
Contract with Customer, Receivable, after Allowance for Credit Loss, Noncurrent	624	657	693
Contract with Customer, Liability	1,557	1,526	$ 1,654
Contract with Customer, Liability, Revenue Recognized	$ 903	$ 1,012
Period after which Collection of Future Income is Considered as Not Probable	120 days
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue from External Customer [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	12 months
Revenue, Remaining Performance Obligation, Percentage	33.00%

Stock-based compensation (Detai

Stock-based compensation (Details) - $ / shares	Jun. 01, 2017	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Jun. 01, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common shares issued from treasury stock for stock-based compensation (in shares)		3,571,503	5,317,243	5,126,379
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant		33,880,674
Term life of SARs and option awards (in years)		10 years
Required minimum age of a participant upon separation from service to meet the criteria for Long Service Separation (in years)		55 years
Minimum term of service to meet criteria for Long Service Separation (in years)		5 years
Term life of vested options/SARs from separation date (in years)		5 years
Assumptions used in determining the fair value of the stock-based awards
Weighted-average dividend yield (as a percent)		2.60%	2.50%	2.60%
Weighted-average volatility (as a percent)		32.90%	25.70%	29.10%
Volatilities, low end of range (as a percent)		29.20%	24.50%	25.10%
Volatilities, high end of range (as a percent)		45.80%	29.70%	38.70%
Risk-free interest rates, low end of range (as a percent)		0.06%	1.21%	2.48%
Risk-free interest rates, high end of range (as a percent)		1.41%	1.39%	2.68%
Weighted-average expected lives (in years)		8 years	8 years	7 years
Weighted-Average Grant Date Fair Value for RSUs and PSUs
Number of additional shares authorized under the plan (in shares)	36,000,000
Number of shares authorized under the plans (in shares)		74,800,000			38,800,000
Stock Options and Stock Appreciation Rights (SARs)
Stock options/SARs activity
Outstanding at beginning of year (in shares)		10,076,983
Granted to officers and key employees		(1,084,821)
Exercised (in shares)		(3,399,720)
Forfeited / expired (in shares)		(39,664)
Outstanding at end of year (in shares)		7,722,420	10,076,983
Number of stock awards exercisable at end of the period (in shares)		4,914,111
Weighted- Average Exercise Price for Stock options/SARs
Outstanding at beginning of year (in dollars per shares)		$ 109.60
Granted to officers and key employees (in dollars per shares)		219.76
Exercised (in dollars per shares)		103.45
Forfeited / expired (in dollars per shares)		161.34
Outstanding at end of year (in dollars per shares)		127.52	$ 109.60
Exercisable at year-end (in dollars per share)		$ 106.36
Restricted Stock Units (RSUs)
RSUs/PSUs activity
Outstanding at beginning of year (in shares)		1,327,950
Granted to officers and key employees (in shares)		472,698
Vested (in shares)		(665,357)
Forfeited (in shares)		(35,110)
Outstanding at end of year (in shares)		1,100,181	1,327,950
Weighted-Average Grant Date Fair Value for RSUs and PSUs
Outstanding at beginning of year (in dollars per shares)		$ 134.89
Granted to officers and key employees (in dollars per shares)		216.50	$ 128.07	$ 138.61
Vested (in dollars per shares)		138.90
Forfeited (in dollars per shares)		167.12
Outstanding at end of year (in dollars per shares)		$ 166.50	$ 134.89
Performance Restricted Stock Units (PRSUs)
RSUs/PSUs activity
Outstanding at beginning of year (in shares)		727,757
Granted to officers and key employees (in shares)		285,056
Vested (in shares)		(356,618)
Forfeited (in shares)		(10,822)
Outstanding at end of year (in shares)		645,373	727,757
Weighted-Average Grant Date Fair Value for RSUs and PSUs
Outstanding at beginning of year (in dollars per shares)		$ 132.81
Granted to officers and key employees (in dollars per shares)		215.45	$ 128.41	$ 138.67
Vested (in dollars per shares)		138.35
Forfeited (in dollars per shares)		163.02
Outstanding at end of year (in dollars per shares)		$ 165.74	$ 132.81
2015 and later grants \| Performance Restricted Stock Units (PRSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Graded vesting period of awards granted		3 years
Percentage of award vested on first anniversary of grant date \| 2015 and later grants
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Portion of the award vested on each anniversary of the grant date		33.33%
Percentage of award vested on second anniversary of grant date \| 2015 and later grants
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Portion of the award vested on each anniversary of the grant date		33.33%
Percentage of award vested on third anniversary of grant date \| 2015 and later grants
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Portion of the award vested on each anniversary of the grant date		33.33%

Stock-based compensation (Det_2

Stock-based compensation (Details 2) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Additional Stock-based Award Information under Restricted Stock Units Activity
Stock-based compensation expense, before tax (in dollars)	$ 200	$ 202	$ 205
Income tax benefit corresponding to stock-based compensation expense	23	34	35
Unrecognized compensation cost related to nonvested stock-based compensation awards (in dollars)	$ 143
Term of amortization of unrecognized compensation cost over weighted-average remaining requisite service periods (in years)	1 year 8 months 12 days
Cash tax benefits realized from stock awards exercised	$ 102	$ 108	$ 89
Exercise Price Range One [Member]
Exercise Prices Stock Options/SARs outstanding and exercisable
Exercise Price Range, Minimum (in dollars per share)	$ 74.77
Exercise Price Range, Maximum (in dollars per share)	83
Exercise Price Range Two [Member]
Exercise Prices Stock Options/SARs outstanding and exercisable
Exercise Price Range, Minimum (in dollars per share)	89.75
Exercise Price Range, Maximum (in dollars per share)	96.31
Exercise Price Range Three [Member]
Exercise Prices Stock Options/SARs outstanding and exercisable
Exercise Price Range, Minimum (in dollars per share)	110.09
Exercise Price Range, Maximum (in dollars per share)	110.09
Exercise Price Range Four [Member]
Exercise Prices Stock Options/SARs outstanding and exercisable
Exercise Price Range, Minimum (in dollars per share)	127.60
Exercise Price Range, Maximum (in dollars per share)	138.35
Exercise Price Range Five [Member]
Exercise Prices Stock Options/SARs outstanding and exercisable
Exercise Price Range, Minimum (in dollars per share)	151.12
Exercise Price Range, Maximum (in dollars per share)	$ 219.76
Stock Options and Stock Appreciation Rights (SARs)
Stock Options/SARs outstanding and exercisable
Number of stock awards outstanding at end of the period (in shares)	7,722,420
Weighted Average Exercise Price (in dollars per share)	$ 127.52
Aggregate Intrinsic Value outstanding	$ 611
Number of stock awards exercisable at end of the period (in shares)	4,914,111
Weighted Average Exercise Price (in dollars per share)	$ 106.36
Aggregate Intrinsic Value exercisable	$ 493
Additional Stock-based Award Information under Stock Option and Stock Appreciation Rights
Weighted-average fair value per share of stock awards granted (in dollars per share)	$ 56.30	$ 25.98	$ 40.98
Intrinsic value of stock awards exercised	$ 374	$ 386	$ 264
Fair value of stock awards vested	59	64	100
Cash received from stock awards exercised	$ 212	$ 282	$ 298
Stock Options and Stock Appreciation Rights (SARs) \| Exercise Price Range One [Member]
Stock Options/SARs outstanding and exercisable
Number of stock awards outstanding at end of the period (in shares)	1,846,000
Weighted Average Remaining Contractual Life outstanding (in years)	3 years 9 months
Weighted Average Exercise Price (in dollars per share)	$ 78.65
Aggregate Intrinsic Value outstanding	$ 236
Number of stock awards exercisable at end of the period (in shares)	1,846,000
Weighted-Average Remaining Contractual Life exercisable (in years)	3 years 9 months
Weighted Average Exercise Price (in dollars per share)	$ 78.65
Aggregate Intrinsic Value exercisable	$ 236
Stock Options and Stock Appreciation Rights (SARs) \| Exercise Price Range Two [Member]
Stock Options/SARs outstanding and exercisable
Number of stock awards outstanding at end of the period (in shares)	1,225,687
Weighted Average Remaining Contractual Life outstanding (in years)	4 years 3 days
Weighted Average Exercise Price (in dollars per share)	$ 95.20
Aggregate Intrinsic Value outstanding	$ 137
Number of stock awards exercisable at end of the period (in shares)	1,225,182
Weighted-Average Remaining Contractual Life exercisable (in years)	4 years 3 days
Weighted Average Exercise Price (in dollars per share)	$ 95.20
Aggregate Intrinsic Value exercisable	$ 137
Stock Options and Stock Appreciation Rights (SARs) \| Exercise Price Range Three [Member]
Stock Options/SARs outstanding and exercisable
Number of stock awards outstanding at end of the period (in shares)	39,909
Weighted Average Remaining Contractual Life outstanding (in years)	2 months 1 day
Weighted Average Exercise Price (in dollars per share)	$ 110.09
Aggregate Intrinsic Value outstanding	$ 4
Number of stock awards exercisable at end of the period (in shares)	39,909
Weighted-Average Remaining Contractual Life exercisable (in years)	2 months 1 day
Weighted Average Exercise Price (in dollars per share)	$ 110.09
Aggregate Intrinsic Value exercisable	$ 4
Stock Options and Stock Appreciation Rights (SARs) \| Exercise Price Range Four [Member]
Stock Options/SARs outstanding and exercisable
Number of stock awards outstanding at end of the period (in shares)	2,675,475
Weighted Average Remaining Contractual Life outstanding (in years)	7 years 10 months 17 days
Weighted Average Exercise Price (in dollars per share)	$ 131.81
Aggregate Intrinsic Value outstanding	$ 200
Number of stock awards exercisable at end of the period (in shares)	936,141
Weighted-Average Remaining Contractual Life exercisable (in years)	7 years 8 months 4 days
Weighted Average Exercise Price (in dollars per share)	$ 134.01
Aggregate Intrinsic Value exercisable	$ 68
Stock Options and Stock Appreciation Rights (SARs) \| Exercise Price Range Five [Member]
Stock Options/SARs outstanding and exercisable
Number of stock awards outstanding at end of the period (in shares)	1,935,349
Weighted Average Remaining Contractual Life outstanding (in years)	7 years 11 months 4 days
Weighted Average Exercise Price (in dollars per share)	$ 189.01
Aggregate Intrinsic Value outstanding	$ 34
Number of stock awards exercisable at end of the period (in shares)	866,879
Weighted-Average Remaining Contractual Life exercisable (in years)	6 years 3 months 3 days
Weighted Average Exercise Price (in dollars per share)	$ 151.12
Aggregate Intrinsic Value exercisable	$ 48
Restricted Stock Units (RSUs)
Additional Stock-based Award Information under Restricted Stock Units Activity
Outstanding at end of year (in shares)	1,100,181	1,327,950
Weighted average remaining contractual life (in years)	1 year 4 months 24 days
Weighted-average fair value per share of stock awards granted	$ 216.50	$ 128.07	$ 138.61
Fair value of stock awards vested	$ 136	$ 87	$ 110
Performance Restricted Stock Units (PRSUs)
Additional Stock-based Award Information under Restricted Stock Units Activity
Outstanding at end of year (in shares)	645,373	727,757
Weighted average remaining contractual life (in years)	1 year 4 months 24 days
Weighted-average fair value per share of stock awards granted	$ 215.45	$ 128.41	$ 138.67
Fair value of stock awards vested	$ 74	$ 59	$ 59

Derivative financial instrume_4

Derivative financial instruments and risk management (Details)	12 Months Ended
	Dec. 31, 2021
Derivative [Line Items]
Maximum length of time policy, foreign currency cash flow hedge	5 years
Foreign currency cash flow hedges, maximum period (in months)	60 months
Commodity forward and option contracts, maximum period (in years)	5 years

Derivative financial instrume_5

Derivative financial instruments and risk management (Details 2) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Derivatives Fair Value
Asset Fair Value	$ 342	$ 281
Liability Fair Value	(130)	(298)
Machinery, Energy & Transportation
Derivatives Fair Value
Asset Fair Value	134	196
Liability Fair Value	(47)	(38)
Financial Products
Derivatives Fair Value
Asset Fair Value	208	85
Liability Fair Value	(83)	(260)
Designated derivatives
Derivatives Fair Value
Asset (Liability) Fair Value	187	20
Undesignated derivatives
Derivatives Fair Value
Asset (Liability) Fair Value	25	(37)
Foreign exchange contracts \| Designated derivatives \| Receivables - trade and other \| Machinery, Energy & Transportation
Derivatives Fair Value
Asset Fair Value	58	74
Foreign exchange contracts \| Designated derivatives \| Receivables - trade and other \| Financial Products
Derivatives Fair Value
Asset Fair Value	109	1
Foreign exchange contracts \| Designated derivatives \| Long-term receivables - trade and other \| Machinery, Energy & Transportation
Derivatives Fair Value
Asset Fair Value	28	71
Foreign exchange contracts \| Designated derivatives \| Long-term receivables - trade and other \| Financial Products
Derivatives Fair Value
Asset Fair Value	33	1
Foreign exchange contracts \| Designated derivatives \| Accrued expenses \| Machinery, Energy & Transportation
Derivatives Fair Value
Liability Fair Value	(26)	(36)
Foreign exchange contracts \| Designated derivatives \| Accrued expenses \| Financial Products
Derivatives Fair Value
Liability Fair Value	(32)	(148)
Foreign exchange contracts \| Designated derivatives \| Other Liabilities \| Machinery, Energy & Transportation
Derivatives Fair Value
Liability Fair Value	(6)	(1)
Foreign exchange contracts \| Undesignated derivatives \| Receivables - trade and other \| Machinery, Energy & Transportation
Derivatives Fair Value
Asset Fair Value	18	10
Foreign exchange contracts \| Undesignated derivatives \| Receivables - trade and other \| Financial Products
Derivatives Fair Value
Asset Fair Value	21	17
Foreign exchange contracts \| Undesignated derivatives \| Long-term receivables - trade and other \| Financial Products
Derivatives Fair Value
Asset Fair Value	7	7
Foreign exchange contracts \| Undesignated derivatives \| Accrued expenses \| Machinery, Energy & Transportation
Derivatives Fair Value
Liability Fair Value	(6)	(1)
Foreign exchange contracts \| Undesignated derivatives \| Accrued expenses \| Financial Products
Derivatives Fair Value
Liability Fair Value	(36)	(107)
Interest rate contracts \| Designated derivatives \| Receivables - trade and other \| Financial Products
Derivatives Fair Value
Asset Fair Value	7	2
Interest rate contracts \| Designated derivatives \| Long-term receivables - trade and other \| Machinery, Energy & Transportation
Derivatives Fair Value
Asset Fair Value	0	4
Interest rate contracts \| Designated derivatives \| Long-term receivables - trade and other \| Financial Products
Derivatives Fair Value
Asset Fair Value	31	57
Interest rate contracts \| Designated derivatives \| Accrued expenses \| Financial Products
Derivatives Fair Value
Liability Fair Value	(15)	(5)
Commodity contracts \| Undesignated derivatives \| Receivables - trade and other \| Machinery, Energy & Transportation
Derivatives Fair Value
Asset Fair Value	30	35
Commodity contracts \| Undesignated derivatives \| Long-term receivables - trade and other \| Machinery, Energy & Transportation
Derivatives Fair Value
Asset Fair Value	0	2
Commodity contracts \| Undesignated derivatives \| Accrued expenses \| Machinery, Energy & Transportation
Derivatives Fair Value
Liability Fair Value	$ (9)	$ 0

Derivative financial instrume_6

Derivative financial instruments and risk management (Details 3) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Machinery, Energy & Transportation
Derivative notional amounts
Derivative, Notional Amount	$ 5,085	$ 3,553
Financial Products
Derivative notional amounts
Derivative, Notional Amount	$ 13,852	$ 11,260

Derivative financial instrume_7

Derivative financial instruments and risk management (Details 4) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Derivative Instruments, Gain (Loss)
Gains (losses) deferred	$ 195	$ (116)	$ 57
(Gains) losses reclassified to earnings	(196)	241	(66)
Amount of the line items in Statement 1 [Abstract]
Sales and revenues	50,971	41,748	53,800
Cost of goods sold	35,513	29,082	36,630
Other income (expense)	1,814	(44)	(57)
Cash collateral received or pledged under master netting agreements	0	0
Machinery, Energy & Transportation
Amount of the line items in Statement 1 [Abstract]
Sales and revenues	48,188	39,022	50,755
Financial Products
Amount of the line items in Statement 1 [Abstract]
Sales and revenues	2,783	2,726	3,045
Interest Expense of Financial Products	455	589	754
All other excluding Financial Products
Amount of the line items in Statement 1 [Abstract]
Interest Expense excluding Financial Products	488	514	421
Designated derivatives \| Cash Flow Hedges
Derivative Instruments, Gain (Loss)
Gains (losses) deferred	195	(116)	57
(Gains) losses reclassified to earnings	196	(241)	66
Designated derivatives \| Cash Flow Hedges \| Foreign exchange contracts \| Machinery, Energy & Transportation
Derivative Instruments, Gain (Loss)
Gains (losses) deferred	(21)	48	34
Designated derivatives \| Cash Flow Hedges \| Foreign exchange contracts \| Machinery, Energy & Transportation \| Sales
Derivative Instruments, Gain (Loss)
(Gains) losses reclassified to earnings	(13)	2	11
Designated derivatives \| Cash Flow Hedges \| Foreign exchange contracts \| Machinery, Energy & Transportation \| Cost of goods sold
Derivative Instruments, Gain (Loss)
(Gains) losses reclassified to earnings	46	(55)	(3)
Designated derivatives \| Cash Flow Hedges \| Foreign exchange contracts \| Financial Products
Derivative Instruments, Gain (Loss)
Gains (losses) deferred	190	(130)	93
Designated derivatives \| Cash Flow Hedges \| Foreign exchange contracts \| Financial Products \| Other Income (Expense)
Derivative Instruments, Gain (Loss)
(Gains) losses reclassified to earnings	199	(164)	37
Designated derivatives \| Cash Flow Hedges \| Foreign exchange contracts \| Financial Products \| Interest expense
Derivative Instruments, Gain (Loss)
(Gains) losses reclassified to earnings	(5)	32	33
Designated derivatives \| Cash Flow Hedges \| Interest rate contracts \| Machinery, Energy & Transportation
Derivative Instruments, Gain (Loss)
Gains (losses) deferred	7	(11)	0
Designated derivatives \| Cash Flow Hedges \| Interest rate contracts \| Machinery, Energy & Transportation \| Interest expense
Derivative Instruments, Gain (Loss)
(Gains) losses reclassified to earnings	(3)	(4)	(4)
Designated derivatives \| Cash Flow Hedges \| Interest rate contracts \| Financial Products
Derivative Instruments, Gain (Loss)
Gains (losses) deferred	19	(23)	(70)
Designated derivatives \| Cash Flow Hedges \| Interest rate contracts \| Financial Products \| Interest expense
Derivative Instruments, Gain (Loss)
(Gains) losses reclassified to earnings	(28)	(52)	(8)
Undesignated derivatives
Derivative Instruments, Gain (Loss)
Gains (Losses) on Derivatives Not Designated as Hedging Instruments	160	(63)	(6)
Undesignated derivatives \| Foreign exchange contracts \| Machinery, Energy & Transportation \| Other Income (Expense)
Derivative Instruments, Gain (Loss)
Gains (Losses) on Derivatives Not Designated as Hedging Instruments	15	38	13
Undesignated derivatives \| Foreign exchange contracts \| Financial Products \| Other Income (Expense)
Derivative Instruments, Gain (Loss)
Gains (Losses) on Derivatives Not Designated as Hedging Instruments	89	(112)	(37)
Undesignated derivatives \| Commodity contracts \| Machinery, Energy & Transportation \| Other Income (Expense)
Derivative Instruments, Gain (Loss)
Gains (Losses) on Derivatives Not Designated as Hedging Instruments	$ 56	$ 11	$ 18

Derivative financial instrume_8

Derivative financial instruments and risk management (Details 5) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Offsetting Assets
Gross Amount of Recognized Assets	$ 342	$ 281
Gross Amounts Offset in the Statement of Financial Position	0	0
Net Amount of Assets Presented in the Statement of Financial Position	342	281
Financial Instruments	(114)	(95)
Cash Collateral Received	0	0
Net Amount of Assets	228	186
Machinery, Energy & Transportation
Offsetting Assets
Gross Amount of Recognized Assets	134	196
Gross Amounts Offset in the Statement of Financial Position	0	0
Net Amount of Assets Presented in the Statement of Financial Position	134	196
Financial Instruments	(47)	(38)
Cash Collateral Received	0	0
Net Amount of Assets	87	158
Financial Products
Offsetting Assets
Gross Amount of Recognized Assets	208	85
Gross Amounts Offset in the Statement of Financial Position	0	0
Net Amount of Assets Presented in the Statement of Financial Position	208	85
Financial Instruments	(67)	(57)
Cash Collateral Received	0	0
Net Amount of Assets	$ 141	$ 28

Derivative financial instrume_9

Derivative financial instruments and risk management (Details 6) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Offsetting Liabilities
Gross Amount of Recognized Liabilities	$ (130)	$ (298)
Gross Amounts Offset in the Statement of Financial Position	0	0
Net Amount of Liabilities Presented in the Statement of Financial Position	(130)	(298)
Financial Instruments	114	95
Cash Collateral Pledged	0	0
Net Amount of Liabilities	16	203
Machinery, Energy & Transportation
Offsetting Liabilities
Gross Amount of Recognized Liabilities	(47)	(38)
Gross Amounts Offset in the Statement of Financial Position	0	0
Net Amount of Liabilities Presented in the Statement of Financial Position	(47)	(38)
Financial Instruments	47	38
Cash Collateral Pledged	0	0
Net Amount of Liabilities	0	0
Financial Products
Offsetting Liabilities
Gross Amount of Recognized Liabilities	(83)	(260)
Gross Amounts Offset in the Statement of Financial Position	0	0
Net Amount of Liabilities Presented in the Statement of Financial Position	(83)	(260)
Financial Instruments	67	57
Cash Collateral Pledged	0	0
Net Amount of Liabilities	$ 16	$ 203

Other income (expense) (Details

Other income (expense) (Details) - USD ($) $ in Millions	12 Months Ended
Other income (expense) (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Other Income and Expenses [Abstract]
Investment and interest income	$ 80	$ 112	$ 202
Foreign exchange gains (losses)	110	(193)	(67)
License fee income	123	104	121
Debt and Equity Securities, Gain (Loss)	134	37	65
Net periodic pension and OPEB income (cost), excluding service cost	1,279	(90)	(363)
Miscellaneous income (loss)	88	(14)	(15)
Other income (expense)	$ 1,814	$ (44)	$ (57)

Income taxes (Details)

Income taxes (Details) - USD ($) $ in Millions	12 Months Ended
Income taxes (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
(Decreases) increases in taxes resulting from:
Taxes at U.S. statutory rate	$ 1,723	$ 839	$ 1,641
Taxes at U. S. statutory rate (as a percent)	21.00%	21.00%	21.00%
Non-U.S. subsidiaries taxed at other than the U.S. rate	$ 211	$ 285	$ 365
Non-U.S. subsidiaries taxed at other than the U.S. rate (as a percent)	2.60%	7.10%	4.70%
State and local taxes, net of federal	$ 28	$ 32	$ 59
State and local taxes, net of federal (as a percent)	0.30%	0.80%	0.80%
Interest and penalties, net of tax	$ 45	$ 28	$ 34
Interest and penalties, net of tax (as a percent)	0.60%	0.70%	0.40%
U.S. tax incentives	$ (123)	$ (52)	$ (149)
U.S. tax incentives (as a percent)	(1.50%)	(1.30%)	(1.90%)
Net excess tax benefits from stock-based compensation	$ (63)	$ (49)	$ (41)
Net excess tax benefits from stock-based compensation, percent	(0.80%)	(1.20%)	(0.50%)
Prior year tax adjustments	$ (36)	$ (80)	$ (178)
Prior year adjustments (as a percent)	(0.40%)	(2.00%)	(2.30%)
Other-net	$ (43)	$ 3	$ 15
Other-net (as a percent)	(0.60%)	0.10%	0.20%
Provision (benefit) for income taxes	$ 1,742	$ 1,006	$ 1,746
Provision (benefit) for income taxes (as a percent)	21.20%	25.20%	22.40%

Income taxes (Details 2)

Income taxes (Details 2) - USD ($) $ in Millions	12 Months Ended
Income taxes (Details 2) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Prior year tax adjustments	$ (36)	$ (80)	$ (178)
Undistributed earnings of foreign subsidiaries	$ 15,000

Income taxes (Details 3)

Income taxes (Details 3) - USD ($) $ in Millions	12 Months Ended
Income taxes (Details 3) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Components of profit (loss) before taxes
U.S	$ 2,740	$ 590	$ 2,888
Non-U.S	5,464	3,405	4,924
Consolidated profit before tax	8,204	3,995	7,812
Current tax provision (benefit):
U.S.	766	18	405
Non-U.S.	1,283	1,031	1,261
State (U.S.)	76	31	52
Current tax provision (benefit)	2,125	1,080	1,718
Deferred tax provision (benefit):
U.S.	(387)	(44)	17
Non-U.S.	54	(34)	(7)
State (U.S.)	(50)	4	18
Deferred tax provision (benefit)	(383)	(74)	28
Provision (benefit) for income taxes	1,742	1,006	1,746
Income Taxes Paid	$ 1,759	$ 1,311	$ 1,847

Income taxes (Details 4)

Income taxes (Details 4) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Deferred tax assets
Noncurrent deferred and refundable income taxes	$ 1,669	$ 1,358
Deferred tax liabilities
Other liabilities	412	418
Deferred income taxes-net	$ 1,257	$ 940

Income taxes (Details 5)

Income taxes (Details 5) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Deferred income tax assets:
Tax carryforwards	$ 1,380	$ 1,346
Postemployment benefits other than pensions	848	919
Employee compensation and benefits	464	267
Research Expenditures	415	193
Intercompany prepayments	280	0
Warranty reserves	266	247
Lease Obligations	159	154
Post sale discounts	143	153
Pension	111	396
Allowance for credit losses	106	126
Other-net	235	317
Deferred income tax assets, Total	4,407	4,118
Deferred income tax liabilities:
Capital and intangible assets, including lease basis differences	(1,457)	(1,526)
Other outside basis differences	(264)	(284)
Translation	(188)	(147)
Bond discount	(112)	(117)
Undistributed profits of non-U.S. subsidiaries	(101)	(95)
Deferred income tax liabilities, Total	(2,122)	(2,169)
Valuation allowance for deferred tax assets	(1,028)	(1,009)
Deferred income taxes-net	$ 1,257	$ 940

Income taxes (Details 6)

Income taxes (Details 6) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Operating loss and Tax credit carryforwards
Valuation allowance for deferred tax assets	$ 1,028	$ 1,009
Deferred Tax Assets, Tax Credit Carryforwards, Foreign	90
Non-U.S. taxing jurisdictions
Operating loss and Tax credit carryforwards
Net operating loss carryforwards	4,773
Valuation allowance for deferred tax assets	770
Non-U.S. taxing jurisdictions \| 2022
Operating loss and Tax credit carryforwards
Net operating loss carryforwards	4
Non-U.S. taxing jurisdictions \| 2023
Operating loss and Tax credit carryforwards
Net operating loss carryforwards	3
Non-U.S. taxing jurisdictions \| 2024
Operating loss and Tax credit carryforwards
Net operating loss carryforwards	14
Non-U.S. taxing jurisdictions \| 2025-2027
Operating loss and Tax credit carryforwards
Net operating loss carryforwards	32
Non-U.S. taxing jurisdictions \| 2028-2042
Operating loss and Tax credit carryforwards
Net operating loss carryforwards	844
Non-U.S. taxing jurisdictions \| Unlimited
Operating loss and Tax credit carryforwards
Net operating loss carryforwards	$ 3,876
U.S. state taxing jurisdictions
Operating loss and Tax credit carryforwards
Primary period of net operating loss carryforward expiration, years	20 years
State tax credit carryforward expiration, over period of years, and unlimited	15 years
U.S. state taxing jurisdictions \| Primarily over the next 20 years
Operating loss and Tax credit carryforwards
Net operating loss carryforwards	$ 890
Valuation allowance for deferred tax assets	150
U.S. state taxing jurisdictions \| Expiration date next one to fifteen years
Operating loss and Tax credit carryforwards
Tax credit carryforwards	130
Domestic Tax Authority
Operating loss and Tax credit carryforwards
Capital Loss Carryforwards	$ 790

Income taxes (Details 7)

Income taxes (Details 7) - USD ($) $ in Millions	12 Months Ended
Income taxes (Details 7) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Reconciliation of the beginning and ending amount of gross unrecognized tax benefits
Unrecognized tax benefits, beginning	$ 1,759	$ 1,778	$ 1,796
Additions for tax positions related to current year	141	44	72
Additions for tax positions related to prior years	43	46	112
Reductions for tax positions related to prior years	(30)	(12)	(201)
Reductions for settlements	(24)	(94)	0
Reductions for expiration of statute of limitations	(3)	(3)	(1)
Unrecognized tax benefits, ending	1,886	1,759	1,778
Unrecognized tax benefits that, if recognized, would impact the effective tax rate	1,688	1,657	1,616
Net provision for interest and penalties	54	38	$ 43
Interest and penalties, accrued	297	$ 264
Income tax examination, proposed liability increase/(decrease)	$ 2,300

Cat Financial Financing Activ_3

Cat Financial Financing Activities (Details A Wholesale inventory) - Wholesale receivables - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Contractual maturities of wholesale inventory receivables
2022	$ 467
2023	275
2024	147
2025	78
2026	30
Thereafter	5
Total	1,002
Guaranteed residual value	95
Unguaranteed residual value	31
Less: Unearned Income	(30)
Total	1,098	$ 1,233
Wholesale loans
Contractual maturities of wholesale inventory receivables
2022	421
2023	237
2024	117
2025	56
2026	21
Thereafter	5
Total	857
Guaranteed residual value	68
Unguaranteed residual value	2
Less: Unearned Income	(11)
Total	916
Wholesale Leases
Contractual maturities of wholesale inventory receivables
2022	46
2023	38
2024	30
2025	22
2026	9
Thereafter	0
Total	145
Guaranteed residual value	27
Unguaranteed residual value	29
Less: Unearned Income	(19)
Total	$ 182

Cat Financial Financing Activ_4

Cat Financial Financing Activities (Details B Finance Receivable) - Finance Receivables - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Contractual maturities of outstanding finance receivables
2022	$ 8,976
2023	5,962
2024	3,672
2025	1,958
2026	864
Thereafter	229
Total	21,661
Guaranteed residual value	402
Unguaranteed residual value	723
Less: Unearned Income	(858)
Total	21,928	$ 22,160
Retail loans
Contractual maturities of outstanding finance receivables
2022	5,839
2023	3,892
2024	2,571
2025	1,448
2026	647
Thereafter	195
Total	14,592
Guaranteed residual value	16
Unguaranteed residual value	3
Less: Unearned Income	(304)
Total	14,307
Retail Leases
Contractual maturities of outstanding finance receivables
2022	3,137
2023	2,070
2024	1,101
2025	510
2026	217
Thereafter	34
Total	7,069
Guaranteed residual value	386
Unguaranteed residual value	720
Less: Unearned Income	(554)
Total	$ 7,621

Cat Financial Financing Activ_5

Cat Financial Financing Activities (Details C - Allowance for credit losses) - Finance Receivables - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Allowance for credit loss activity:
Balance at beginning of year	$ 475	$ 420
Write-offs	(256)	(263)
Recoveries	51	41
Provision for credit losses	68	261
Other	(5)	4
Balance at end of year	333	475
Allowance for Credit Losses:
Ending Balance	333	475
Finance Receivables:
Total	21,928	22,160
Cumulative Effect, Period of Adoption, Adjustment [Member] \| Credit losses
Allowance for credit loss activity:
Balance at beginning of year	0	12
Balance at end of year		0
Allowance for Credit Losses:
Ending Balance		0
Customer
Allowance for credit loss activity:
Balance at beginning of year	431	375
Write-offs	(256)	(263)
Recoveries	51	41
Provision for credit losses	30	262
Other	(5)	4
Balance at end of year	251	431
Allowance for Credit Losses:
Ending Balance	251	431
Finance Receivables:
Total	20,135	19,238
Customer \| Cumulative Effect, Period of Adoption, Adjustment [Member] \| Credit losses
Allowance for credit loss activity:
Balance at beginning of year	0	12
Balance at end of year		0
Allowance for Credit Losses:
Ending Balance		0
Dealer
Allowance for credit loss activity:
Balance at beginning of year	44	45
Write-offs	0	0
Recoveries	0	0
Provision for credit losses	38	(1)
Other	0	0
Balance at end of year	82	44
Allowance for Credit Losses:
Ending Balance	82	44
Finance Receivables:
Total	1,793	2,922
Dealer \| Cumulative Effect, Period of Adoption, Adjustment [Member] \| Credit losses
Allowance for credit loss activity:
Balance at beginning of year	$ 0	0
Balance at end of year		0
Allowance for Credit Losses:
Ending Balance		$ 0

Cat Financial Financing Activ_6

Cat Financial Financing Activities (Details C Credit quality- Customer Receivables Aging by origination year -Vintage disclosure) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Receivables [Abstract]
Period after which Unpaid Installments are Considered as Past Due	30 days
Dealer \| Latin America \| 91+ days past due
Financing Receivable, Credit Quality Indicator
2018 and 2017, respectively		$ 78
2017 and 2016, respectively	$ 78
Prior		3
Total		81
Finance Receivables
Financing Receivable, Credit Quality Indicator
Total	21,928	22,160
Finance Receivables \| Customer
Financing Receivable, Credit Quality Indicator
2021 and 2020, respectively	9,234	8,162
2020 and 2019, respectively	5,152	5,403
2019 and 2018, respectively	2,964	2,901
2018 and 2017, respectively	1,444	1,357
2017 and 2016, respectively	597	575
Prior	410	492
Revolving Finance Receivables	334	348
Total	20,135	19,238
Finance Receivables \| Customer \| North America \| Current
Financing Receivable, Credit Quality Indicator
2021 and 2020, respectively	4,792	3,777
2020 and 2019, respectively	2,596	2,423
2019 and 2018, respectively	1,426	1,344
2018 and 2017, respectively	630	522
2017 and 2016, respectively	182	212
Prior	32	27
Revolving Finance Receivables	182	89
Total	9,840	8,394
Finance Receivables \| Customer \| North America \| 31 to 60 Days Past Due
Financing Receivable, Credit Quality Indicator
2021 and 2020, respectively	27	52
2020 and 2019, respectively	32	49
2019 and 2018, respectively	20	33
2018 and 2017, respectively	12	16
2017 and 2016, respectively	4	7
Prior	1	2
Revolving Finance Receivables	5	0
Total	101	159
Finance Receivables \| Customer \| North America \| 61 to 90 Days Past Due
Financing Receivable, Credit Quality Indicator
2021 and 2020, respectively	7	22
2020 and 2019, respectively	8	25
2019 and 2018, respectively	5	16
2018 and 2017, respectively	3	9
2017 and 2016, respectively	1	2
Prior	1	1
Revolving Finance Receivables	5	0
Total	30	75
Finance Receivables \| Customer \| North America \| 91+ days past due
Financing Receivable, Credit Quality Indicator
2021 and 2020, respectively	9	14
2020 and 2019, respectively	17	35
2019 and 2018, respectively	12	31
2018 and 2017, respectively	13	20
2017 and 2016, respectively	5	9
Prior	4	4
Revolving Finance Receivables	5	2
Total	65	115
Finance Receivables \| Customer \| EAME \| Current
Financing Receivable, Credit Quality Indicator
2021 and 2020, respectively	1,499	1,605
2020 and 2019, respectively	836	931
2019 and 2018, respectively	577	501
2018 and 2017, respectively	352	203
2017 and 2016, respectively	140	60
Prior	26	18
Revolving Finance Receivables	0	0
Total	3,430	3,318
Finance Receivables \| Customer \| EAME \| 31 to 60 Days Past Due
Financing Receivable, Credit Quality Indicator
2021 and 2020, respectively	5	5
2020 and 2019, respectively	4	15
2019 and 2018, respectively	3	3
2018 and 2017, respectively	1	2
2017 and 2016, respectively	1	0
Prior	0	0
Revolving Finance Receivables	0	0
Total	14	25
Finance Receivables \| Customer \| EAME \| 61 to 90 Days Past Due
Financing Receivable, Credit Quality Indicator
2021 and 2020, respectively	3	1
2020 and 2019, respectively	3	1
2019 and 2018, respectively	3	2
2018 and 2017, respectively	1	1
2017 and 2016, respectively	0	0
Prior	0	0
Revolving Finance Receivables	0	0
Total	10	5
Finance Receivables \| Customer \| EAME \| 91+ days past due
Financing Receivable, Credit Quality Indicator
2021 and 2020, respectively	3	7
2020 and 2019, respectively	11	7
2019 and 2018, respectively	2	12
2018 and 2017, respectively	2	4
2017 and 2016, respectively	0	39
Prior	2	43
Revolving Finance Receivables	0	0
Total	20	112
Finance Receivables \| Customer \| Asia/Pacific \| Current
Financing Receivable, Credit Quality Indicator
2021 and 2020, respectively	1,271	1,375
2020 and 2019, respectively	803	745
2019 and 2018, respectively	307	321
2018 and 2017, respectively	71	61
2017 and 2016, respectively	16	10
Prior	2	3
Revolving Finance Receivables	0	0
Total	2,470	2,515
Finance Receivables \| Customer \| Asia/Pacific \| 31 to 60 Days Past Due
Financing Receivable, Credit Quality Indicator
2021 and 2020, respectively	10	12
2020 and 2019, respectively	14	22
2019 and 2018, respectively	10	13
2018 and 2017, respectively	2	6
2017 and 2016, respectively	0	0
Prior	0	0
Revolving Finance Receivables	0	0
Total	36	53
Finance Receivables \| Customer \| Asia/Pacific \| 61 to 90 Days Past Due
Financing Receivable, Credit Quality Indicator
2021 and 2020, respectively	3	7
2020 and 2019, respectively	7	11
2019 and 2018, respectively	4	7
2018 and 2017, respectively	1	1
2017 and 2016, respectively	0	0
Prior	0	0
Revolving Finance Receivables	0	0
Total	15	26
Finance Receivables \| Customer \| Asia/Pacific \| 91+ days past due
Financing Receivable, Credit Quality Indicator
2021 and 2020, respectively	2	4
2020 and 2019, respectively	10	10
2019 and 2018, respectively	10	9
2018 and 2017, respectively	3	3
2017 and 2016, respectively	0	0
Prior	0	0
Revolving Finance Receivables	0	0
Total	25	26
Finance Receivables \| Customer \| Mining \| Current
Financing Receivable, Credit Quality Indicator
2021 and 2020, respectively	851	490
2020 and 2019, respectively	347	571
2019 and 2018, respectively	307	287
2018 and 2017, respectively	193	152
2017 and 2016, respectively	36	92
Prior	161	151
Revolving Finance Receivables	36	137
Total	1,931	1,880
Finance Receivables \| Customer \| Mining \| 31 to 60 Days Past Due
Financing Receivable, Credit Quality Indicator
2021 and 2020, respectively	6	5
2020 and 2019, respectively	0	0
2019 and 2018, respectively	0	5
2018 and 2017, respectively	0	1
2017 and 2016, respectively	0	0
Prior	0	0
Revolving Finance Receivables	0	0
Total	6	11
Finance Receivables \| Customer \| Mining \| 61 to 90 Days Past Due
Financing Receivable, Credit Quality Indicator
2021 and 2020, respectively	1	0
2020 and 2019, respectively	0	0
2019 and 2018, respectively	0	0
2018 and 2017, respectively	0	0
2017 and 2016, respectively	4	0
Prior	0	0
Revolving Finance Receivables	0	0
Total	5	0
Finance Receivables \| Customer \| Mining \| 91+ days past due
Financing Receivable, Credit Quality Indicator
2021 and 2020, respectively	0	0
2020 and 2019, respectively	1	11
2019 and 2018, respectively	8	8
2018 and 2017, respectively	9	2
2017 and 2016, respectively	3	0
Prior	1	0
Revolving Finance Receivables	0	1
Total	22	22
Finance Receivables \| Customer \| Latin America \| Current
Financing Receivable, Credit Quality Indicator
2021 and 2020, respectively	617	561
2020 and 2019, respectively	299	348
2019 and 2018, respectively	160	151
2018 and 2017, respectively	70	48
2017 and 2016, respectively	17	13
Prior	18	34
Revolving Finance Receivables	0	0
Total	1,181	1,155
Finance Receivables \| Customer \| Latin America \| 31 to 60 Days Past Due
Financing Receivable, Credit Quality Indicator
2021 and 2020, respectively	4	3
2020 and 2019, respectively	7	6
2019 and 2018, respectively	3	4
2018 and 2017, respectively	3	3
2017 and 2016, respectively	1	0
Prior	0	0
Revolving Finance Receivables	0	0
Total	18	16
Finance Receivables \| Customer \| Latin America \| 61 to 90 Days Past Due
Financing Receivable, Credit Quality Indicator
2021 and 2020, respectively	3	1
2020 and 2019, respectively	3	7
2019 and 2018, respectively	1	6
2018 and 2017, respectively	1	3
2017 and 2016, respectively	0	2
Prior	0	0
Revolving Finance Receivables	0	0
Total	8	19
Finance Receivables \| Customer \| Latin America \| 91+ days past due
Financing Receivable, Credit Quality Indicator
2021 and 2020, respectively	4	2
2020 and 2019, respectively	9	14
2019 and 2018, respectively	9	11
2018 and 2017, respectively	7	24
2017 and 2016, respectively	7	5
Prior	14	4
Revolving Finance Receivables	0	0
Total	50	60
Finance Receivables \| Customer \| Caterpillar Power Finance \| Current
Financing Receivable, Credit Quality Indicator
2021 and 2020, respectively	117	217
2020 and 2019, respectively	145	172
2019 and 2018, respectively	97	111
2018 and 2017, respectively	70	273
2017 and 2016, respectively	180	99
Prior	104	117
Revolving Finance Receivables	101	119
Total	814	1,108
Finance Receivables \| Customer \| Caterpillar Power Finance \| 31 to 60 Days Past Due
Financing Receivable, Credit Quality Indicator
2021 and 2020, respectively	0	0
2020 and 2019, respectively	0	0
2019 and 2018, respectively	0	6
2018 and 2017, respectively	0	0
2017 and 2016, respectively	0	0
Prior	0	0
Revolving Finance Receivables	0	0
Total	0	6
Finance Receivables \| Customer \| Caterpillar Power Finance \| 61 to 90 Days Past Due
Financing Receivable, Credit Quality Indicator
2021 and 2020, respectively	0	0
2020 and 2019, respectively	0	0
2019 and 2018, respectively	0	0
2018 and 2017, respectively	0	0
2017 and 2016, respectively	0	0
Prior	0	9
Revolving Finance Receivables	0	0
Total	0	9
Finance Receivables \| Customer \| Caterpillar Power Finance \| 91+ days past due
Financing Receivable, Credit Quality Indicator
2021 and 2020, respectively	0	2
2020 and 2019, respectively	0	0
2019 and 2018, respectively	0	20
2018 and 2017, respectively	0	3
2017 and 2016, respectively	0	25
Prior	44	79
Revolving Finance Receivables	0	0
Total	44	129
Finance Receivables \| Dealer
Financing Receivable, Credit Quality Indicator
Total	$ 1,793	$ 2,922

Cat Financial Financing Activ_7

Cat Financial Financing Activities (Details C Non-accrual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Receivables [Abstract]
Period after which Collection of Future Income is Considered as Not Probable	120 days
Dealer
Financing Receivable, Nonaccrual [Line Items]
Interest income recognized for finance receivables on non-accrual status	$ 0	$ 0	$ 0
Loans and Leases Receivable, Nonperforming, Nonaccrual of Interest	78	81
Customer
Financing Receivable, Nonaccrual [Line Items]
Interest income recognized for finance receivables on non-accrual status	12	12	$ 28
Finance Receivables \| Dealer
Financing Receivable, Nonaccrual [Line Items]
91+ Still Accruing	0	0
Finance Receivables \| Customer
Financing Receivable, Nonaccrual [Line Items]
Amortized Cost, Non-accrual With an Allowance	184	466
Amortized Cost, Non-accrual Without an Allowance	26	20
91+ Still Accruing	36	49
Finance Receivables \| North America \| Customer
Financing Receivable, Nonaccrual [Line Items]
Amortized Cost, Non-accrual With an Allowance	47	86
Amortized Cost, Non-accrual Without an Allowance	9	1
91+ Still Accruing	12	34
Finance Receivables \| EAME \| Customer
Financing Receivable, Nonaccrual [Line Items]
Amortized Cost, Non-accrual With an Allowance	18	113
Amortized Cost, Non-accrual Without an Allowance	1	1
91+ Still Accruing	2	1
Finance Receivables \| Asia/Pacific \| Customer
Financing Receivable, Nonaccrual [Line Items]
Amortized Cost, Non-accrual With an Allowance	19	13
Amortized Cost, Non-accrual Without an Allowance	0	0
91+ Still Accruing	7	13
Finance Receivables \| Mining \| Customer
Financing Receivable, Nonaccrual [Line Items]
Amortized Cost, Non-accrual With an Allowance	8	21
Amortized Cost, Non-accrual Without an Allowance	1	1
91+ Still Accruing	14	0
Finance Receivables \| Latin America \| Customer
Financing Receivable, Nonaccrual [Line Items]
Amortized Cost, Non-accrual With an Allowance	52	63
Amortized Cost, Non-accrual Without an Allowance	4	0
91+ Still Accruing	1	1
Finance Receivables \| Caterpillar Power Finance \| Customer
Financing Receivable, Nonaccrual [Line Items]
Amortized Cost, Non-accrual With an Allowance	40	170
Amortized Cost, Non-accrual Without an Allowance	11	17
91+ Still Accruing	$ 0	$ 0

Cat Financial Financing Activ_8

Cat Financial Financing Activities (Details C TDR) - Finance Receivables - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Customer
Loan and finance lease receivables modified as TDRs
Pre-TDR Amortized Cost	$ 62	$ 220	$ 209
Post-TDR Amortized Cost	52	220	204
TDRs with a payment default which had been modified within twelve months prior to the default date
Financing Receivable, Troubled Debt Restructuring, Subsequent Default	29	49	15
Customer \| North America
Loan and finance lease receivables modified as TDRs
Pre-TDR Amortized Cost	6	13	11
Post-TDR Amortized Cost	6	13	11
TDRs with a payment default which had been modified within twelve months prior to the default date
Financing Receivable, Troubled Debt Restructuring, Subsequent Default	1	8	5
Customer \| EMEA
Loan and finance lease receivables modified as TDRs
Pre-TDR Amortized Cost	3	0	17
Post-TDR Amortized Cost	3	0	17
TDRs with a payment default which had been modified within twelve months prior to the default date
Financing Receivable, Troubled Debt Restructuring, Subsequent Default	0	10	0
Customer \| Asia/Pacific
Loan and finance lease receivables modified as TDRs
Pre-TDR Amortized Cost	4	12	0
Post-TDR Amortized Cost	4	12	0
TDRs with a payment default which had been modified within twelve months prior to the default date
Financing Receivable, Troubled Debt Restructuring, Subsequent Default	6	2	0
Customer \| Mining
Loan and finance lease receivables modified as TDRs
Pre-TDR Amortized Cost	11	35	8
Post-TDR Amortized Cost	5	35	8
TDRs with a payment default which had been modified within twelve months prior to the default date
Financing Receivable, Troubled Debt Restructuring, Subsequent Default	0	10	0
Customer \| Latin America
Loan and finance lease receivables modified as TDRs
Pre-TDR Amortized Cost	12	45	5
Post-TDR Amortized Cost	12	45	3
TDRs with a payment default which had been modified within twelve months prior to the default date
Financing Receivable, Troubled Debt Restructuring, Subsequent Default	15	1	0
Customer \| Caterpillar Power Finance
Loan and finance lease receivables modified as TDRs
Pre-TDR Amortized Cost	26	115	168
Post-TDR Amortized Cost	22	115	165
TDRs with a payment default which had been modified within twelve months prior to the default date
Financing Receivable, Troubled Debt Restructuring, Subsequent Default	$ 7	$ 18	$ 10
Dealer
Loan and finance lease receivables modified as TDRs
Number of Contracts (in contracts)	0	0	0

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Inventory Disclosure [Abstract]
Percentage of LIFO Inventory	60.00%
Raw materials	$ 5,528	$ 4,021
Work-in-process	1,318	1,052
Finished goods	6,907	6,054
Supplies	285	275
Total inventories	$ 14,038	$ 11,402

Property, plant and equipment_2

Property, plant and equipment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Property, plant and equipment
Total property, plant and equipment, at cost	$ 28,871	$ 29,271
Less: Accumulated depreciation	(16,781)	(16,870)
Property, plant and equipment - net	12,090	12,401
Land
Property, plant and equipment
Property, Plant, and Equipment, Excluding Equipment leased to others, at cost	648	681
Buildings and land improvements
Property, plant and equipment
Property, Plant, and Equipment, Excluding Equipment leased to others, at cost	7,113	7,091
Machinery, equipment and other
Property, plant and equipment
Property, Plant, and Equipment, Excluding Equipment leased to others, at cost	12,868	13,004
Equipment leased to others, at cost	5,733	6,077
Software
Property, plant and equipment
Property, Plant, and Equipment, Excluding Equipment leased to others, at cost	1,697	1,679
Construction-in-process
Property, plant and equipment
Property, Plant, and Equipment, Excluding Equipment leased to others, at cost	$ 812	$ 739
Minimum \| Buildings and land improvements
Property, plant and equipment
Useful Lives (Years)	20 years
Minimum \| Machinery, equipment and other
Property, plant and equipment
Useful Lives (Years)	2 years
Minimum \| Software
Property, plant and equipment
Useful Lives (Years)	3 years
Minimum \| Equipment, Lessor Asset Under Operating Lease
Property, plant and equipment
Useful Lives (Years)	1 year
Maximum \| Buildings and land improvements
Property, plant and equipment
Useful Lives (Years)	45 years
Maximum \| Machinery, equipment and other
Property, plant and equipment
Useful Lives (Years)	10 years
Maximum \| Software
Property, plant and equipment
Useful Lives (Years)	7 years
Maximum \| Equipment, Lessor Asset Under Operating Lease
Property, plant and equipment
Useful Lives (Years)	7 years

Intangible assets and goodwil_2

Intangible assets and goodwill (Details Intangible assets) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Intangible assets by major class
Weighted Amortizable Life (in years)	14 years	14 years
Gross Carrying Amount	$ 4,049	$ 4,096
Accumulated Amortization	(3,007)	(2,788)
Net	1,042	1,308
Amortization expense	302	$ 311	$ 324
Intangible Assets, Expected Amortization Expense
2022	286
2023	227
2024	169
2025	159
2026	88
Thereafter	$ 113
Customer relationships
Intangible assets by major class
Weighted Amortizable Life (in years)	15 years	15 years
Gross Carrying Amount	$ 2,421	$ 2,493
Accumulated Amortization	(1,709)	(1,600)
Net	$ 712	$ 893
Intellectual property
Intangible assets by major class
Weighted Amortizable Life (in years)	12 years	12 years
Gross Carrying Amount	$ 1,472	$ 1,439
Accumulated Amortization	(1,192)	(1,073)
Net	$ 280	$ 366
Other
Intangible assets by major class
Weighted Amortizable Life (in years)	14 years	14 years
Gross Carrying Amount	$ 156	$ 164
Accumulated Amortization	(106)	(115)
Net	$ 50	$ 49

Intangible assets and goodwil_3

Intangible assets and goodwill (Details 2 Goodwill) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Goodwill by reportable segment
Goodwill impairment charge	$ 0	$ 0	$ 0
Changes in carrying amount of goodwill by reportable segment:
Goodwill, beginning of year	7,591	7,393
Impairments, beginning of year	(1,197)	(1,197)
Goodwill, Acquired	75	41
Other Adjustments	(145)	157
Goodwill, end of year	7,521	7,591	7,393
Impairments, end of year	(1,197)	(1,197)	(1,197)
Net goodwill, end of year	6,324	6,394	6,196
Net goodwill, beginning of year	6,394	6,196
Construction Industries
Changes in carrying amount of goodwill by reportable segment:
Goodwill, beginning of year	320	306
Impairments, beginning of year	(22)	(22)
Goodwill, Acquired	4	0
Other Adjustments	(22)	14
Goodwill, end of year	302	320	306
Impairments, end of year	(22)	(22)	(22)
Net goodwill, end of year	280	298	284
Net goodwill, beginning of year	298	284
Resource Industries
Changes in carrying amount of goodwill by reportable segment:
Goodwill, beginning of year	4,253	4,156
Impairments, beginning of year	(1,175)	(1,175)
Goodwill, Acquired	22	0
Other Adjustments	(93)	97
Goodwill, end of year	4,182	4,253	4,156
Impairments, end of year	(1,175)	(1,175)	(1,175)
Net goodwill, end of year	3,007	3,078	2,981
Net goodwill, beginning of year	3,078	2,981
Energy & Transportation
Changes in carrying amount of goodwill by reportable segment:
Goodwill, beginning of year	2,959	2,875
Goodwill, Acquired	49	41
Other Adjustments	(23)	43
Goodwill, end of year	2,985	2,959	2,875
All Other
Changes in carrying amount of goodwill by reportable segment:
Goodwill, beginning of year	59	56
Goodwill, Acquired	0	0
Other Adjustments	(7)	3
Goodwill, end of year	$ 52	$ 59	$ 56

Investments in debt and equit_3

Investments in debt and equity securities (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Schedule of Debt and Equity Securities
Cost Basis	$ 1,694	$ 1,613
Unrealized Pretax Net Gains (Losses)	27	70
Fair Value	1,721	1,683
Government debt - U.S. treasury bonds
Schedule of Debt and Equity Securities
Cost Basis	10	10
Unrealized Pretax Net Gains (Losses)	0	0
Fair Value	10	10
Other U.S. and non-U.S. government bonds
Schedule of Debt and Equity Securities
Cost Basis	61	58
Unrealized Pretax Net Gains (Losses)	0	1
Fair Value	61	59
Corporate bonds
Schedule of Debt and Equity Securities
Cost Basis	1,027	962
Unrealized Pretax Net Gains (Losses)	19	50
Fair Value	1,046	1,012
Corporate bonds - Asset-backed securities
Schedule of Debt and Equity Securities
Cost Basis	175	156
Unrealized Pretax Net Gains (Losses)	1	3
Fair Value	176	159
U.S. governmental agency mortgage-backed securities
Schedule of Debt and Equity Securities
Cost Basis	319	362
Unrealized Pretax Net Gains (Losses)	6	12
Fair Value	325	374
Mortgage-backed securities - Residential
Schedule of Debt and Equity Securities
Cost Basis	4	5
Unrealized Pretax Net Gains (Losses)	0	0
Fair Value	4	5
Mortgage-backed securities - Commercial
Schedule of Debt and Equity Securities
Cost Basis	98	60
Unrealized Pretax Net Gains (Losses)	1	4
Fair Value	$ 99	$ 64

Investments in debt and equit_4

Investments in debt and equity securities (Details 2) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Available-for-sale Investments, Continuous Unrealized Loss Position
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	$ 6	$ 0

Investments in debt and equit_5

Investments in debt and equity securities (Details 3) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Schedule of Debt and Equity Securities
Due in one year or less, Cost Basis	$ 120
Due in one year or less, Fair Value	121
Due after one year through five years, Cost Basis	750
Due after one year through five years, Fair Value	763
Due after five years through ten years, Cost Basis	332
Due after five years through ten years, Fair Value	337
Due after ten years, Cost Basis	71
Due after ten years, Fair Value	72
Cost Basis	1,694	$ 1,613
Fair Value	1,721	1,683
Available-for-sale Securities, Proceeds, Gains and Losses
Proceeds from Sale of Debt Securities, Available-for-sale	454	290	$ 260
Debt Securities, Available-for-sale, Realized Gain	4	2	1
Debt Securities, Available-for-sale, Realized Loss	0	1	$ 1
Held-to-maturity Securities
Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss		0
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain	0	0
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss	0	0
Unrealized gain (loss) on equity securities held on report date	105	47
Bank Time Deposits
Held-to-maturity Securities
Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss	964
U.S. governmental agency mortgage-backed securities
Schedule of Debt and Equity Securities
Cost Basis	319	362
Fair Value	325	374
Mortgage-backed securities - Residential
Schedule of Debt and Equity Securities
Cost Basis	4	5
Fair Value	4	5
Mortgage-backed securities - Commercial
Schedule of Debt and Equity Securities
Cost Basis	98	60
Fair Value	$ 99	$ 64

Postemployment benefit plans (D

Postemployment benefit plans (Details A 1) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Change in benefit obligation:
Actuarial losses (gains)	$ (833)	$ 383	$ 468
Components of net amount recognized in financial position:
Liability, Pension and Other Postretirement and Postemployment Benefits, Noncurrent	$ (5,592)	$ (6,872)
U.S. pensions
Weighted-average assumptions used to determine benefit obligation, end of year:
Discount rate (as a percent)	2.80%	2.40%
Rate of compensation increase (as a percent)	0.00%	0.00%
Accumulated benefit obligation, end of year	$ 17,895	$ 19,177
Change in benefit obligation:
Benefit obligation, beginning of year	19,177	17,773
Service cost	0	0	115
Interest cost	330	483	600
Plan amendments	0	0
Actuarial losses (gains)	(610)	1,922
Foreign currency exchange rates	0	0
Participant contributions	0	0
Benefits paid - gross	(996)	(997)
Less: federal subsidy on benefits paid	0	0
Curtailments, settlements and termination benefits	(6)	(4)
Benefit obligation, end of year	17,895	19,177	17,773
Change in plan assets:
Fair value of plan assets, beginning of year	17,589	15,994
Actual return on plan assets	595	2,552
Foreign currency exchange rates	0	0
Company contributions	45	44
Participant contributions	0	0
Benefits paid	(996)	(997)
Settlements and termination benefits	(6)	(4)
Fair value of plan assets, end of year	17,227	17,589	15,994
Funded Status, end of year
Over (under) funded status	(668)	(1,588)
Components of net amount recognized in financial position:
Other assets (non-current asset)	592	409
Accrued wages, salaries and employee benefits (current liability)	(45)	(44)
Liability for postemployment benefits (non-current liability)	(1,215)	(1,953)
Net liability recognized	(668)	(1,588)
Amounts recognized in Accumulated other comprehensive income (pre-tax) consist of:
Prior service cost (credit)	$ 0	$ 0
Non-U.S. pensions
Weighted-average assumptions used to determine benefit obligation, end of year:
Discount rate (as a percent)	1.80%	1.40%
Rate of compensation increase (as a percent)	2.00%	2.00%
Accumulated benefit obligation, end of year	$ 4,311	$ 4,680
Change in benefit obligation:
Benefit obligation, beginning of year	4,847	4,666
Service cost	57	55	80
Interest cost	53	68	94
Plan amendments	0	6
Actuarial losses (gains)	(142)	258
Foreign currency exchange rates	(154)	213
Participant contributions	4	4
Benefits paid - gross	(184)	(159)
Less: federal subsidy on benefits paid	0	0
Curtailments, settlements and termination benefits	(45)	(264)
Benefit obligation, end of year	4,436	4,847	4,666
Change in plan assets:
Fair value of plan assets, beginning of year	4,731	4,525
Actual return on plan assets	99	385
Foreign currency exchange rates	(139)	164
Company contributions	84	76
Participant contributions	4	4
Benefits paid	(184)	(159)
Settlements and termination benefits	(43)	(264)
Fair value of plan assets, end of year	4,552	4,731	4,525
Funded Status, end of year
Over (under) funded status	116	(116)
Components of net amount recognized in financial position:
Other assets (non-current asset)	538	556
Accrued wages, salaries and employee benefits (current liability)	(16)	(25)
Liability for postemployment benefits (non-current liability)	(406)	(647)
Net liability recognized	116	(116)
Amounts recognized in Accumulated other comprehensive income (pre-tax) consist of:
Prior service cost (credit)	$ 23	$ 24
Other postretirement benefits
Weighted-average assumptions used to determine benefit obligation, end of year:
Discount rate (as a percent)	2.70%	2.30%
Rate of compensation increase (as a percent)	4.00%	4.00%
Change in benefit obligation:
Benefit obligation, beginning of year	$ 4,051	$ 3,960
Service cost	100	94	80
Interest cost	64	103	136
Plan amendments	0	(8)
Actuarial losses (gains)	(211)	192
Foreign currency exchange rates	(15)	(25)
Participant contributions	48	44
Benefits paid - gross	(310)	(317)
Less: federal subsidy on benefits paid	9	8
Curtailments, settlements and termination benefits	0	0
Benefit obligation, end of year	3,736	4,051	3,960
Change in plan assets:
Fair value of plan assets, beginning of year	147	255
Actual return on plan assets	34	23
Foreign currency exchange rates	0	0
Company contributions	211	142
Participant contributions	48	44
Benefits paid	(310)	(317)
Settlements and termination benefits	0	0
Fair value of plan assets, end of year	130	147	$ 255
Funded Status, end of year
Over (under) funded status	(3,606)	(3,904)
Components of net amount recognized in financial position:
Other assets (non-current asset)	0	0
Accrued wages, salaries and employee benefits (current liability)	(240)	(186)
Liability for postemployment benefits (non-current liability)	(3,366)	(3,718)
Net liability recognized	(3,606)	(3,904)
Liability, Pension and Other Postretirement and Postemployment Benefits, Noncurrent	(67)	(63)
Amounts recognized in Accumulated other comprehensive income (pre-tax) consist of:
Prior service cost (credit)	(5)	(46)
Defined contribution
Components of net amount recognized in financial position:
Liability, Pension and Other Postretirement and Postemployment Benefits, Noncurrent	$ (538)	$ (491)

Postemployment benefit plans _2

Postemployment benefit plans (Details A2) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
U.S. pensions
Pension plans with projected benefit obligation in excess of plan assets
Projected benefit obligation	$ 14,403	$ 15,300
Fair value of plan assets	13,143	13,302
Pension plans with accumulated benefit obligation in excess of plan assets
Accumulated benefit obligation	14,403	15,300
Fair value of plan assets	13,143	13,302
Non-U.S. pensions
Pension plans with projected benefit obligation in excess of plan assets
Projected benefit obligation	743	2,171
Fair value of plan assets	319	1,499
Pension plans with accumulated benefit obligation in excess of plan assets
Accumulated benefit obligation	603	1,988
Fair value of plan assets	$ 234	$ 1,425

Postemployment benefit plans _3

Postemployment benefit plans (Details B) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Other changes in plan assets and benefit obligations recognized in other comprehensive income (pre-tax):
Current year prior service cost (credit)	$ 0	$ (1)	$ (4)
Amortization of prior service (cost) credit	40	38	40
U.S. pensions
Components of net periodic benefit cost:
Service cost	0	0	115
Interest cost	330	483	600
Expected return on plan assets	(718)	(791)	(721)
Curtailments, settlements and termination benefits	0	(1)	(1)
Amortization of prior service cost / (credit)	0	0	0
Actuarial loss / (gain)	(487)	162	72
Net periodic benefit cost (benefit)	(875)	(147)	65
Other changes in plan assets and benefit obligations recognized in other comprehensive income (pre-tax):
Current year prior service cost (credit)	0	0	0
Amortization of prior service (cost) credit	0	0	0
Total recognized in other comprehensive income	0	0	0
Total recognized in net periodic cost and other comprehensive income	$ (875)	$ (147)	$ 65
Weighted-average assumptions used to determine net periodic benefit cost
Discount rate used to measure service cost	0.00%	0.00%	4.30%
Discount rate used to measure interest cost	1.80%	2.80%	3.90%
Expected rate of return on plan assets	4.20%	5.10%	5.90%
Rate of compensation increase	0.00%	0.00%	4.00%
Expected return on plan assets, next fiscal year (as a percent)	4.00%
Additional percentage amount added to long-term passive rate of returns to arrive at the long-term expected rate of return (as a percent)	0.35%	0.40%	0.40%
Non-U.S. pensions
Components of net periodic benefit cost:
Service cost	$ 57	$ 55	$ 80
Interest cost	53	68	94
Expected return on plan assets	(128)	(135)	(148)
Curtailments, settlements and termination benefits	(1)	30	(7)
Amortization of prior service cost / (credit)	0	0	0
Actuarial loss / (gain)	(115)	32	90
Net periodic benefit cost (benefit)	(134)	50	109
Other changes in plan assets and benefit obligations recognized in other comprehensive income (pre-tax):
Current year prior service cost (credit)	0	8	(4)
Amortization of prior service (cost) credit	0	0	0
Total recognized in other comprehensive income	0	8	(4)
Total recognized in net periodic cost and other comprehensive income	$ (134)	$ 58	$ 105
Weighted-average assumptions used to determine net periodic benefit cost
Discount rate used to measure service cost	1.40%	1.50%	2.50%
Discount rate used to measure interest cost	1.20%	1.70%	2.30%
Expected rate of return on plan assets	2.90%	3.30%	3.80%
Rate of compensation increase	2.00%	2.00%	3.00%
Expected return on plan assets, next fiscal year (as a percent)	3.10%
Other postretirement benefits
Components of net periodic benefit cost:
Service cost	$ 100	$ 94	$ 80
Interest cost	64	103	136
Expected return on plan assets	(6)	(12)	(18)
Curtailments, settlements and termination benefits	0	0	0
Amortization of prior service cost / (credit)	(40)	(38)	(40)
Actuarial loss / (gain)	(231)	189	306
Net periodic benefit cost (benefit)	(113)	336	464
Other changes in plan assets and benefit obligations recognized in other comprehensive income (pre-tax):
Current year prior service cost (credit)	0	(7)	8
Amortization of prior service (cost) credit	40	38	40
Total recognized in other comprehensive income	40	31	48
Total recognized in net periodic cost and other comprehensive income	$ (73)	$ 367	$ 512
Weighted-average assumptions used to determine net periodic benefit cost
Discount rate used to measure service cost	2.50%	3.20%	4.10%
Discount rate used to measure interest cost	1.60%	2.80%	3.90%
Expected rate of return on plan assets	6.50%	7.00%	7.20%
Rate of compensation increase	4.00%	4.00%	4.10%
Assumed increase in health care trend rate
Assumed increase in health care trend rate over the current period to calculate benefit expenses (as a percent)	5.80%
Assumed increase in health care trend rate for the next year to calculate benefit expenses (as a percent)	5.60%
Year that heath care trend rate is assumed to reach ultimate trend rate (year)	2025
Ultimate health care cost trend rate (as a percent)	5.00%
General inflation rate that forms a part of ultimate health care trend rate (as a percent)	3.00%
Additional healthcare inflation rate that forms a part of ultimate health care trend rate (as a percent)	2.00%

Postemployment benefit plans _4

Postemployment benefit plans (Details C) $ in Millions	Dec. 31, 2021USD ($)
U.S. pensions
Expected contributions and benefit payments for pension and other postretirement benefit plans
Employer contribution expected for 2022	$ 46
Expected benefit payments for 2022	1,035
Expected benefit payments for 2023	1,020
Expected benefit payments for 2024	1,020
Expected benefit payments for 2025	1,020
Expected benefit payments for 2026	1,020
Expected benefit payments from 2027-2031	4,960
Total expected benefit payments	10,075
Non-U.S. pensions
Expected contributions and benefit payments for pension and other postretirement benefit plans
Employer contribution expected for 2022	55
Expected benefit payments for 2022	210
Expected benefit payments for 2023	175
Expected benefit payments for 2024	180
Expected benefit payments for 2025	185
Expected benefit payments for 2026	195
Expected benefit payments from 2027-2031	1,045
Total expected benefit payments	1,990
Other postretirement benefits
Expected contributions and benefit payments for pension and other postretirement benefit plans
Employer contribution expected for 2022	256
Expected benefit payments for 2022	275
Expected benefit payments for 2023	270
Expected benefit payments for 2024	265
Expected benefit payments for 2025	260
Expected benefit payments for 2026	260
Expected benefit payments from 2027-2031	1,250
Total expected benefit payments	2,580
Other postretirement benefits, Medicare Part D subsidy expected
Other postretirement benefits, Medicare Part D subsidy expected in 2022	7
Other postretirement benefits, Medicare Part D subsidy expected in 2023	7
Other postretirement benefits, Medicare Part D subsidy expected in 2024	7
Other postretirement benefits, Medicare Part D subsidy expected in 2025	7
Other postretirement benefits, Medicare Part D subsidy expected in 2026	6
Other postretirement benefits, Medicare Part D subsidy expected from 2027-2031	26
Total expected Medicare D subsidy receipts	$ 60

Postemployment benefit plans _5

Postemployment benefit plans (Details D1) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
U.S. pensions
Defined Benefit Plan Disclosure
Fair value of plan assets	$ 17,227	$ 17,589	$ 15,994
U.S. pensions \| U.S. equities
Defined Benefit Plan Disclosure
Fair value of plan assets	1,841	2,458
U.S. pensions \| Non-U.S. equities
Defined Benefit Plan Disclosure
Fair value of plan assets	1,400	1,839
U.S. pensions \| U.S. corporate bonds
Defined Benefit Plan Disclosure
Fair value of plan assets	7,366	7,567
U.S. pensions \| Non-U.S. corporate bonds
Defined Benefit Plan Disclosure
Fair value of plan assets	1,569	1,372
U.S. pensions \| U.S. government bonds
Defined Benefit Plan Disclosure
Fair value of plan assets	4,341	3,618
U.S. pensions \| U.S. governmental agency mortgage-backed securities
Defined Benefit Plan Disclosure
Fair value of plan assets	24	27
U.S. pensions \| Non-U.S. government bonds
Defined Benefit Plan Disclosure
Fair value of plan assets	172	133
U.S. pensions \| Real estate
Defined Benefit Plan Disclosure
Fair value of plan assets	7	9
U.S. pensions \| Cash, short-term instruments and other
Defined Benefit Plan Disclosure
Fair value of plan assets	507	566
U.S. pensions \| Level 1
Defined Benefit Plan Disclosure
Fair value of plan assets	3,270	4,493
U.S. pensions \| Level 1 \| U.S. equities
Defined Benefit Plan Disclosure
Fair value of plan assets	1,644	2,292
U.S. pensions \| Level 1 \| Non-U.S. equities
Defined Benefit Plan Disclosure
Fair value of plan assets	1,398	1,838
U.S. pensions \| Level 1 \| U.S. corporate bonds
Defined Benefit Plan Disclosure
Fair value of plan assets	0	0
U.S. pensions \| Level 1 \| Non-U.S. corporate bonds
Defined Benefit Plan Disclosure
Fair value of plan assets	0	0
U.S. pensions \| Level 1 \| U.S. government bonds
Defined Benefit Plan Disclosure
Fair value of plan assets	0	0
U.S. pensions \| Level 1 \| U.S. governmental agency mortgage-backed securities
Defined Benefit Plan Disclosure
Fair value of plan assets	0	0
U.S. pensions \| Level 1 \| Non-U.S. government bonds
Defined Benefit Plan Disclosure
Fair value of plan assets	0	0
U.S. pensions \| Level 1 \| Real estate
Defined Benefit Plan Disclosure
Fair value of plan assets	0	0
U.S. pensions \| Level 1 \| Cash, short-term instruments and other
Defined Benefit Plan Disclosure
Fair value of plan assets	228	363
U.S. pensions \| Level 2
Defined Benefit Plan Disclosure
Fair value of plan assets	13,480	12,572
U.S. pensions \| Level 2 \| U.S. equities
Defined Benefit Plan Disclosure
Fair value of plan assets	25	5
U.S. pensions \| Level 2 \| Non-U.S. equities
Defined Benefit Plan Disclosure
Fair value of plan assets	0	0
U.S. pensions \| Level 2 \| U.S. corporate bonds
Defined Benefit Plan Disclosure
Fair value of plan assets	7,289	7,395
U.S. pensions \| Level 2 \| Non-U.S. corporate bonds
Defined Benefit Plan Disclosure
Fair value of plan assets	1,569	1,372
U.S. pensions \| Level 2 \| U.S. government bonds
Defined Benefit Plan Disclosure
Fair value of plan assets	4,341	3,618
U.S. pensions \| Level 2 \| U.S. governmental agency mortgage-backed securities
Defined Benefit Plan Disclosure
Fair value of plan assets	24	27
U.S. pensions \| Level 2 \| Non-U.S. government bonds
Defined Benefit Plan Disclosure
Fair value of plan assets	172	133
U.S. pensions \| Level 2 \| Real estate
Defined Benefit Plan Disclosure
Fair value of plan assets	0	0
U.S. pensions \| Level 2 \| Cash, short-term instruments and other
Defined Benefit Plan Disclosure
Fair value of plan assets	60	22
U.S. pensions \| Level 3
Defined Benefit Plan Disclosure
Fair value of plan assets	72	91
U.S. pensions \| Level 3 \| U.S. equities
Defined Benefit Plan Disclosure
Fair value of plan assets	23	28
U.S. pensions \| Level 3 \| Non-U.S. equities
Defined Benefit Plan Disclosure
Fair value of plan assets	2	1
U.S. pensions \| Level 3 \| U.S. corporate bonds
Defined Benefit Plan Disclosure
Fair value of plan assets	40	53
U.S. pensions \| Level 3 \| Non-U.S. corporate bonds
Defined Benefit Plan Disclosure
Fair value of plan assets	0	0
U.S. pensions \| Level 3 \| U.S. government bonds
Defined Benefit Plan Disclosure
Fair value of plan assets	0	0
U.S. pensions \| Level 3 \| U.S. governmental agency mortgage-backed securities
Defined Benefit Plan Disclosure
Fair value of plan assets	0	0
U.S. pensions \| Level 3 \| Non-U.S. government bonds
Defined Benefit Plan Disclosure
Fair value of plan assets	0	0
U.S. pensions \| Level 3 \| Real estate
Defined Benefit Plan Disclosure
Fair value of plan assets	7	9
U.S. pensions \| Level 3 \| Cash, short-term instruments and other
Defined Benefit Plan Disclosure
Fair value of plan assets	0	0
U.S. pensions \| Measured at NAV
Defined Benefit Plan Disclosure
Fair value of plan assets	405	433
U.S. pensions \| Measured at NAV \| U.S. equities
Defined Benefit Plan Disclosure
Fair value of plan assets	149	133
U.S. pensions \| Measured at NAV \| Non-U.S. equities
Defined Benefit Plan Disclosure
Fair value of plan assets	0	0
U.S. pensions \| Measured at NAV \| U.S. corporate bonds
Defined Benefit Plan Disclosure
Fair value of plan assets	37	119
U.S. pensions \| Measured at NAV \| Non-U.S. corporate bonds
Defined Benefit Plan Disclosure
Fair value of plan assets	0	0
U.S. pensions \| Measured at NAV \| U.S. government bonds
Defined Benefit Plan Disclosure
Fair value of plan assets	0	0
U.S. pensions \| Measured at NAV \| U.S. governmental agency mortgage-backed securities
Defined Benefit Plan Disclosure
Fair value of plan assets	0	0
U.S. pensions \| Measured at NAV \| Non-U.S. government bonds
Defined Benefit Plan Disclosure
Fair value of plan assets	0	0
U.S. pensions \| Measured at NAV \| Real estate
Defined Benefit Plan Disclosure
Fair value of plan assets	0	0
U.S. pensions \| Measured at NAV \| Cash, short-term instruments and other
Defined Benefit Plan Disclosure
Fair value of plan assets	219	181
Non-U.S. pensions
Defined Benefit Plan Disclosure
Fair value of plan assets	4,552	4,731	4,525
Non-U.S. pensions \| U.S. equities
Defined Benefit Plan Disclosure
Fair value of plan assets	72	97
Non-U.S. pensions \| Non-U.S. equities
Defined Benefit Plan Disclosure
Fair value of plan assets	335	451
Non-U.S. pensions \| Global equities
Defined Benefit Plan Disclosure
Fair value of plan assets	92	95
Non-U.S. pensions \| U.S. corporate bonds
Defined Benefit Plan Disclosure
Fair value of plan assets	327	314
Non-U.S. pensions \| Non-U.S. corporate bonds
Defined Benefit Plan Disclosure
Fair value of plan assets	889	987
Non-U.S. pensions \| U.S. government bonds
Defined Benefit Plan Disclosure
Fair value of plan assets	152	2
Non-U.S. pensions \| Non-U.S. government bonds
Defined Benefit Plan Disclosure
Fair value of plan assets	1,752	1,743
Non-U.S. pensions \| Global fixed income
Defined Benefit Plan Disclosure
Fair value of plan assets	385	456
Non-U.S. pensions \| Real estate
Defined Benefit Plan Disclosure
Fair value of plan assets	225	239
Non-U.S. pensions \| Cash, short-term instruments and other
Defined Benefit Plan Disclosure
Fair value of plan assets	323	347
Non-U.S. pensions \| Level 1
Defined Benefit Plan Disclosure
Fair value of plan assets	425	565
Non-U.S. pensions \| Level 1 \| U.S. equities
Defined Benefit Plan Disclosure
Fair value of plan assets	72	97
Non-U.S. pensions \| Level 1 \| Non-U.S. equities
Defined Benefit Plan Disclosure
Fair value of plan assets	266	368
Non-U.S. pensions \| Level 1 \| Global equities
Defined Benefit Plan Disclosure
Fair value of plan assets	31	29
Non-U.S. pensions \| Level 1 \| U.S. corporate bonds
Defined Benefit Plan Disclosure
Fair value of plan assets	0	0
Non-U.S. pensions \| Level 1 \| Non-U.S. corporate bonds
Defined Benefit Plan Disclosure
Fair value of plan assets	0	0
Non-U.S. pensions \| Level 1 \| U.S. government bonds
Defined Benefit Plan Disclosure
Fair value of plan assets	0	0
Non-U.S. pensions \| Level 1 \| Non-U.S. government bonds
Defined Benefit Plan Disclosure
Fair value of plan assets	0	0
Non-U.S. pensions \| Level 1 \| Global fixed income
Defined Benefit Plan Disclosure
Fair value of plan assets	0	0
Non-U.S. pensions \| Level 1 \| Real estate
Defined Benefit Plan Disclosure
Fair value of plan assets	0	0
Non-U.S. pensions \| Level 1 \| Cash, short-term instruments and other
Defined Benefit Plan Disclosure
Fair value of plan assets	56	71
Non-U.S. pensions \| Level 2
Defined Benefit Plan Disclosure
Fair value of plan assets	3,747	3,742
Non-U.S. pensions \| Level 2 \| U.S. equities
Defined Benefit Plan Disclosure
Fair value of plan assets	0	0
Non-U.S. pensions \| Level 2 \| Non-U.S. equities
Defined Benefit Plan Disclosure
Fair value of plan assets	32	33
Non-U.S. pensions \| Level 2 \| Global equities
Defined Benefit Plan Disclosure
Fair value of plan assets	15	17
Non-U.S. pensions \| Level 2 \| U.S. corporate bonds
Defined Benefit Plan Disclosure
Fair value of plan assets	327	314
Non-U.S. pensions \| Level 2 \| Non-U.S. corporate bonds
Defined Benefit Plan Disclosure
Fair value of plan assets	889	987
Non-U.S. pensions \| Level 2 \| U.S. government bonds
Defined Benefit Plan Disclosure
Fair value of plan assets	152	2
Non-U.S. pensions \| Level 2 \| Non-U.S. government bonds
Defined Benefit Plan Disclosure
Fair value of plan assets	1,752	1,743
Non-U.S. pensions \| Level 2 \| Global fixed income
Defined Benefit Plan Disclosure
Fair value of plan assets	88	131
Non-U.S. pensions \| Level 2 \| Real estate
Defined Benefit Plan Disclosure
Fair value of plan assets	225	239
Non-U.S. pensions \| Level 2 \| Cash, short-term instruments and other
Defined Benefit Plan Disclosure
Fair value of plan assets	267	276
Non-U.S. pensions \| Level 3
Defined Benefit Plan Disclosure
Fair value of plan assets	0	0
Non-U.S. pensions \| Level 3 \| U.S. equities
Defined Benefit Plan Disclosure
Fair value of plan assets	0	0
Non-U.S. pensions \| Level 3 \| Non-U.S. equities
Defined Benefit Plan Disclosure
Fair value of plan assets	0	0
Non-U.S. pensions \| Level 3 \| Global equities
Defined Benefit Plan Disclosure
Fair value of plan assets	0	0
Non-U.S. pensions \| Level 3 \| U.S. corporate bonds
Defined Benefit Plan Disclosure
Fair value of plan assets	0	0
Non-U.S. pensions \| Level 3 \| Non-U.S. corporate bonds
Defined Benefit Plan Disclosure
Fair value of plan assets	0	0
Non-U.S. pensions \| Level 3 \| U.S. government bonds
Defined Benefit Plan Disclosure
Fair value of plan assets	0	0
Non-U.S. pensions \| Level 3 \| Non-U.S. government bonds
Defined Benefit Plan Disclosure
Fair value of plan assets	0	0
Non-U.S. pensions \| Level 3 \| Global fixed income
Defined Benefit Plan Disclosure
Fair value of plan assets	0	0
Non-U.S. pensions \| Level 3 \| Real estate
Defined Benefit Plan Disclosure
Fair value of plan assets	0	0
Non-U.S. pensions \| Level 3 \| Cash, short-term instruments and other
Defined Benefit Plan Disclosure
Fair value of plan assets	0	0
Non-U.S. pensions \| Measured at NAV
Defined Benefit Plan Disclosure
Fair value of plan assets	380	424
Non-U.S. pensions \| Measured at NAV \| U.S. equities
Defined Benefit Plan Disclosure
Fair value of plan assets	0	0
Non-U.S. pensions \| Measured at NAV \| Non-U.S. equities
Defined Benefit Plan Disclosure
Fair value of plan assets	37	50
Non-U.S. pensions \| Measured at NAV \| Global equities
Defined Benefit Plan Disclosure
Fair value of plan assets	46	49
Non-U.S. pensions \| Measured at NAV \| U.S. corporate bonds
Defined Benefit Plan Disclosure
Fair value of plan assets	0	0
Non-U.S. pensions \| Measured at NAV \| Non-U.S. corporate bonds
Defined Benefit Plan Disclosure
Fair value of plan assets	0	0
Non-U.S. pensions \| Measured at NAV \| U.S. government bonds
Defined Benefit Plan Disclosure
Fair value of plan assets	0	0
Non-U.S. pensions \| Measured at NAV \| Non-U.S. government bonds
Defined Benefit Plan Disclosure
Fair value of plan assets	0	0
Non-U.S. pensions \| Measured at NAV \| Global fixed income
Defined Benefit Plan Disclosure
Fair value of plan assets	297	325
Non-U.S. pensions \| Measured at NAV \| Real estate
Defined Benefit Plan Disclosure
Fair value of plan assets	0	0
Non-U.S. pensions \| Measured at NAV \| Cash, short-term instruments and other
Defined Benefit Plan Disclosure
Fair value of plan assets	0	0
Other postretirement benefits
Defined Benefit Plan Disclosure
Fair value of plan assets	130	147	$ 255
Other postretirement benefits \| U.S. equities
Defined Benefit Plan Disclosure
Fair value of plan assets	49	88
Other postretirement benefits \| Non-U.S. equities
Defined Benefit Plan Disclosure
Fair value of plan assets	17	21
Other postretirement benefits \| U.S. corporate bonds
Defined Benefit Plan Disclosure
Fair value of plan assets		12
Other postretirement benefits \| Non-U.S. corporate bonds
Defined Benefit Plan Disclosure
Fair value of plan assets		2
Other postretirement benefits \| U.S. government bonds
Defined Benefit Plan Disclosure
Fair value of plan assets		3
Other postretirement benefits \| U.S. governmental agency mortgage-backed securities
Defined Benefit Plan Disclosure
Fair value of plan assets		6
Other postretirement benefits \| Non-U.S. government bonds
Defined Benefit Plan Disclosure
Fair value of plan assets		3
Other postretirement benefits \| Cash, short-term instruments and other
Defined Benefit Plan Disclosure
Fair value of plan assets	64	12
Other postretirement benefits \| Level 1
Defined Benefit Plan Disclosure
Fair value of plan assets	66	109
Other postretirement benefits \| Level 1 \| U.S. equities
Defined Benefit Plan Disclosure
Fair value of plan assets	49	88
Other postretirement benefits \| Level 1 \| Non-U.S. equities
Defined Benefit Plan Disclosure
Fair value of plan assets	17	21
Other postretirement benefits \| Level 1 \| U.S. corporate bonds
Defined Benefit Plan Disclosure
Fair value of plan assets		0
Other postretirement benefits \| Level 1 \| Non-U.S. corporate bonds
Defined Benefit Plan Disclosure
Fair value of plan assets		0
Other postretirement benefits \| Level 1 \| U.S. government bonds
Defined Benefit Plan Disclosure
Fair value of plan assets		0
Other postretirement benefits \| Level 1 \| U.S. governmental agency mortgage-backed securities
Defined Benefit Plan Disclosure
Fair value of plan assets		0
Other postretirement benefits \| Level 1 \| Non-U.S. government bonds
Defined Benefit Plan Disclosure
Fair value of plan assets		0
Other postretirement benefits \| Level 1 \| Cash, short-term instruments and other
Defined Benefit Plan Disclosure
Fair value of plan assets	0	0
Other postretirement benefits \| Level 2
Defined Benefit Plan Disclosure
Fair value of plan assets	2	27
Other postretirement benefits \| Level 2 \| U.S. equities
Defined Benefit Plan Disclosure
Fair value of plan assets	0	0
Other postretirement benefits \| Level 2 \| Non-U.S. equities
Defined Benefit Plan Disclosure
Fair value of plan assets	0	0
Other postretirement benefits \| Level 2 \| U.S. corporate bonds
Defined Benefit Plan Disclosure
Fair value of plan assets		11
Other postretirement benefits \| Level 2 \| Non-U.S. corporate bonds
Defined Benefit Plan Disclosure
Fair value of plan assets		2
Other postretirement benefits \| Level 2 \| U.S. government bonds
Defined Benefit Plan Disclosure
Fair value of plan assets		3
Other postretirement benefits \| Level 2 \| U.S. governmental agency mortgage-backed securities
Defined Benefit Plan Disclosure
Fair value of plan assets		6
Other postretirement benefits \| Level 2 \| Non-U.S. government bonds
Defined Benefit Plan Disclosure
Fair value of plan assets		3
Other postretirement benefits \| Level 2 \| Cash, short-term instruments and other
Defined Benefit Plan Disclosure
Fair value of plan assets	2	2
Other postretirement benefits \| Level 3
Defined Benefit Plan Disclosure
Fair value of plan assets	0	0
Other postretirement benefits \| Level 3 \| U.S. equities
Defined Benefit Plan Disclosure
Fair value of plan assets	0	0
Other postretirement benefits \| Level 3 \| Non-U.S. equities
Defined Benefit Plan Disclosure
Fair value of plan assets	0	0
Other postretirement benefits \| Level 3 \| U.S. corporate bonds
Defined Benefit Plan Disclosure
Fair value of plan assets		0
Other postretirement benefits \| Level 3 \| Non-U.S. corporate bonds
Defined Benefit Plan Disclosure
Fair value of plan assets		0
Other postretirement benefits \| Level 3 \| U.S. government bonds
Defined Benefit Plan Disclosure
Fair value of plan assets		0
Other postretirement benefits \| Level 3 \| U.S. governmental agency mortgage-backed securities
Defined Benefit Plan Disclosure
Fair value of plan assets		0
Other postretirement benefits \| Level 3 \| Non-U.S. government bonds
Defined Benefit Plan Disclosure
Fair value of plan assets		0
Other postretirement benefits \| Level 3 \| Cash, short-term instruments and other
Defined Benefit Plan Disclosure
Fair value of plan assets	0	0
Other postretirement benefits \| Measured at NAV
Defined Benefit Plan Disclosure
Fair value of plan assets	62	11
Other postretirement benefits \| Measured at NAV \| U.S. equities
Defined Benefit Plan Disclosure
Fair value of plan assets	0	0
Other postretirement benefits \| Measured at NAV \| Non-U.S. equities
Defined Benefit Plan Disclosure
Fair value of plan assets	0	0
Other postretirement benefits \| Measured at NAV \| U.S. corporate bonds
Defined Benefit Plan Disclosure
Fair value of plan assets		1
Other postretirement benefits \| Measured at NAV \| Non-U.S. corporate bonds
Defined Benefit Plan Disclosure
Fair value of plan assets		0
Other postretirement benefits \| Measured at NAV \| U.S. government bonds
Defined Benefit Plan Disclosure
Fair value of plan assets		0
Other postretirement benefits \| Measured at NAV \| U.S. governmental agency mortgage-backed securities
Defined Benefit Plan Disclosure
Fair value of plan assets		0
Other postretirement benefits \| Measured at NAV \| Non-U.S. government bonds
Defined Benefit Plan Disclosure
Fair value of plan assets		0
Other postretirement benefits \| Measured at NAV \| Cash, short-term instruments and other
Defined Benefit Plan Disclosure
Fair value of plan assets	$ 62	$ 10

Postemployment benefit plans _6

Postemployment benefit plans (Details D2)	Dec. 31, 2021
U.S. pensions \| Debt securities
Information about plan asset allocations
Target allocation of plan assets (as a percent)	85.00%
U.S. pensions \| Equities
Information about plan asset allocations
Target allocation of plan assets (as a percent)	15.00%
Non-U.S. pensions \| Debt securities
Information about plan asset allocations
Target allocation of plan assets (as a percent)	82.00%
Non-U.S. pensions \| Equities
Information about plan asset allocations
Target allocation of plan assets (as a percent)	10.00%
Non-U.S. pensions \| Real estate
Information about plan asset allocations
Target allocation of plan assets (as a percent)	5.00%
Non-U.S. pensions \| Other plan assets
Information about plan asset allocations
Target allocation of plan assets (as a percent)	3.00%
Other postretirement benefits \| Debt securities
Information about plan asset allocations
Target allocation of plan assets (as a percent)	30.00%
Other postretirement benefits \| Equities
Information about plan asset allocations
Target allocation of plan assets (as a percent)	70.00%

Postemployment benefit plans _7

Postemployment benefit plans (Details E) - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Defined contribution plans
ESOP, number of allocated shares	12.4	13.2
Costs related to defined contribution plans	$ 554	$ 473	$ 497
U.S. Plans
Defined contribution plans
Percentage that the employer generally matches of employee contributions to U.S. defined contribution plans	100.00%
Employee compensation percentage contributed to defined contribution plan eligible for employer matching contributions	6.00%
New annual employer contribution, percentage of compensation, low end of range	3.00%
New annual employer contribution, percentage of compensation, high end of range	5.00%
Percentage that the employer generally matches of employee contributions to U.S. defined contribution plans for employees accruing benefits under a defined benefit plan	50.00%
Compensation percentage contributed to defined contribution plan eligible for employer matching contributions, for employees accruing benefits under defined benefit pension plan	6.00%
Costs related to defined contribution plans	$ 440	384	414
Non-U.S. Plans
Defined contribution plans
Costs related to defined contribution plans	$ 114	$ 89	$ 83

Short-term borrowings (Details)

Short-term borrowings (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Short-term borrowings:
Short-term borrowings	$ 5,404	$ 2,015
Notes payable to banks
Short-term borrowings:
Weighted-average interest rates on short-term borrowings (as a percent)	4.40%	3.70%
Commercial paper
Short-term borrowings:
Weighted-average interest rates on short-term borrowings (as a percent)	0.10%	0.10%
Demand notes
Short-term borrowings:
Weighted-average interest rates on short-term borrowings (as a percent)	0.20%	0.30%
Machinery, Energy & Transportation
Short-term borrowings:
Short-term borrowings	$ 9	$ 10
Machinery, Energy & Transportation \| Notes payable to banks
Short-term borrowings:
Short-term borrowings	9	10
Financial Products
Short-term borrowings:
Short-term borrowings	5,395	2,005
Financial Products \| Notes payable to banks
Short-term borrowings:
Short-term borrowings	213	307
Financial Products \| Commercial paper
Short-term borrowings:
Short-term borrowings	4,896	1,321
Financial Products \| Demand notes
Short-term borrowings:
Short-term borrowings	$ 286	$ 377

Long-term debt (Details)

Long-term debt (Details) - USD ($) $ in Millions	12 Months Ended
Long-term debt (Details) - USD ($) $ in Millions	Dec. 31, 2021	Mar. 12, 2021	Dec. 31, 2020	Apr. 09, 2020
Long-term Debt
Long-term Debt, Excluding Current Maturities, Total	$ 26,033		$ 25,999
Debentures - $800 million of 2.600% due 2030
Long-term Debt
Debt instrument, interest rate (as a percent)				2.60%
Debt Instrument, Face Amount				$ 800
Debentures - $500 million of 1.900% percent due 2031
Long-term Debt
Debt instrument, interest rate (as a percent)		1.90%
Debt Instrument, Face Amount		$ 500
Debentures - $1200 million of 3.250% due 2050
Long-term Debt
Debt instrument, interest rate (as a percent)				3.25%
Debt Instrument, Face Amount				$ 1,200
Machinery, Energy & Transportation
Long-term Debt
Finance lease obligations and other	79		103
Long-term Debt and Lease Obligation, Total	$ 9,746		9,749
Machinery, Energy & Transportation \| Notes-$759 million of 5.200% due 2041
Long-term Debt
Effective Yield to Maturity (as a percent)	5.27%
Notes	$ 752		752
Percentage of the redemption price to the principal amount of debentures to be redeemed	100.00%
Debt instrument, interest rate (as a percent)	5.20%
Debt Instrument, Face Amount	$ 759
Machinery, Energy & Transportation \| Debentures-$500 million of 2.600% due 2022
Long-term Debt
Effective Yield to Maturity (as a percent)	2.70%
Debentures	$ 0		499
Percentage of the redemption price to the principal amount of debentures to be redeemed	100.00%
Debt instrument, interest rate (as a percent)	2.60%
Debt Instrument, Face Amount	$ 500
Machinery, Energy & Transportation \| Debentures-$82 million of 8.000% due 2023
Long-term Debt
Effective Yield to Maturity (as a percent)	8.06%
Debentures	$ 82		82
Debt instrument, interest rate (as a percent)	8.00%
Debt Instrument, Face Amount	$ 82
Machinery, Energy & Transportation \| Debentures-$1,000 million of 3.400% due 2024
Long-term Debt
Effective Yield to Maturity (as a percent)	3.46%
Debentures	$ 999		998
Debt instrument, interest rate (as a percent)	3.40%
Debt Instrument, Face Amount	$ 1,000
Machinery, Energy & Transportation \| Debentures-$193 million of 6.625% due 2028
Long-term Debt
Effective Yield to Maturity (as a percent)	6.68%
Debentures	$ 192		192
Percentage of the redemption price to the principal amount of debentures to be redeemed	100.00%
Debt instrument, interest rate (as a percent)	6.625%
Debt Instrument, Face Amount	$ 193
Machinery, Energy & Transportation \| Debentures-$500 million of 2.600% due 2029
Long-term Debt
Effective Yield to Maturity (as a percent)	2.67%
Debentures	$ 498		497
Percentage of the redemption price to the principal amount of debentures to be redeemed	100.00%
Debt instrument, interest rate (as a percent)	2.60%
Debt Instrument, Face Amount	$ 500
Machinery, Energy & Transportation \| Debentures - $800 million of 2.600% due 2030
Long-term Debt
Effective Yield to Maturity (as a percent)	2.72%
Debentures	$ 793		793
Percentage of the redemption price to the principal amount of debentures to be redeemed	100.00%
Debt instrument, interest rate (as a percent)	2.60%
Debt Instrument, Face Amount	$ 800
Machinery, Energy & Transportation \| Debentures - $500 million of 1.900% percent due 2031
Long-term Debt
Effective Yield to Maturity (as a percent)	2.04%
Debentures	$ 495		0
Percentage of the redemption price to the principal amount of debentures to be redeemed	100.00%
Debt instrument, interest rate (as a percent)	1.90%
Debt Instrument, Face Amount	$ 500
Machinery, Energy & Transportation \| Debentures-$242 million of 7.300% due 2031
Long-term Debt
Effective Yield to Maturity (as a percent)	7.38%
Debentures	$ 240		240
Percentage of the redemption price to the principal amount of debentures to be redeemed	100.00%
Debt instrument, interest rate (as a percent)	7.30%
Debt Instrument, Face Amount	$ 242
Machinery, Energy & Transportation \| Debentures-$307 million of 5.300% due 2035
Long-term Debt
Effective Yield to Maturity (as a percent)	8.64%
Debentures	$ 226		223
Percentage of the redemption price to the principal amount of debentures to be redeemed	100.00%
Debt instrument, interest rate (as a percent)	5.30%
Debt Instrument, Face Amount	$ 307
Machinery, Energy & Transportation \| Debentures-$460 million of 6.050% due 2036
Long-term Debt
Effective Yield to Maturity (as a percent)	6.12%
Debentures	$ 456		456
Percentage of the redemption price to the principal amount of debentures to be redeemed	100.00%
Debt instrument, interest rate (as a percent)	6.05%
Debt Instrument, Face Amount	$ 460
Machinery, Energy & Transportation \| Debentures-$65 million of 8.250% due 2038
Long-term Debt
Effective Yield to Maturity (as a percent)	8.38%
Debentures	$ 64		64
Percentage of the redemption price to the principal amount of debentures to be redeemed	100.00%
Debt instrument, interest rate (as a percent)	8.25%
Debt Instrument, Face Amount	$ 65
Machinery, Energy & Transportation \| Debentures-$160 million of 6.950% due 2042
Long-term Debt
Effective Yield to Maturity (as a percent)	7.02%
Debentures	$ 158		158
Percentage of the redemption price to the principal amount of debentures to be redeemed	100.00%
Debt instrument, interest rate (as a percent)	6.95%
Debt Instrument, Face Amount	$ 160
Machinery, Energy & Transportation \| Debentures-$1,722 million of 3.803% due 2042
Long-term Debt
Effective Yield to Maturity (as a percent)	6.39%
Debentures	$ 1,316		1,296
Percentage of the redemption price to the principal amount of debentures to be redeemed	100.00%
Debt instrument, interest rate (as a percent)	3.803%
Debt Instrument, Face Amount	$ 1,722
Machinery, Energy & Transportation \| Debentures-$500 million of 4.300% due 2044
Long-term Debt
Effective Yield to Maturity (as a percent)	4.39%
Debentures	$ 493		493
Debt instrument, interest rate (as a percent)	4.30%
Debt Instrument, Face Amount	$ 500
Machinery, Energy & Transportation \| Debentures - $1000 million of 3.250% due 2049
Long-term Debt
Effective Yield to Maturity (as a percent)	3.34%
Debentures	$ 983		983
Percentage of the redemption price to the principal amount of debentures to be redeemed	100.00%
Debt instrument, interest rate (as a percent)	3.25%
Debt Instrument, Face Amount	$ 1,000
Machinery, Energy & Transportation \| Debentures - $1200 million of 3.250% due 2050
Long-term Debt
Effective Yield to Maturity (as a percent)	3.32%
Debentures	$ 1,185		1,185
Percentage of the redemption price to the principal amount of debentures to be redeemed	100.00%
Debt instrument, interest rate (as a percent)	3.25%
Debt Instrument, Face Amount	$ 1,200
Machinery, Energy & Transportation \| Debentures-$500 million of 4.750% due 2064
Long-term Debt
Effective Yield to Maturity (as a percent)	4.81%
Debentures	$ 494		494
Debt instrument, interest rate (as a percent)	4.75%
Debt Instrument, Face Amount	$ 500
Machinery, Energy & Transportation \| Debentures-$246 million of 7.375% due 2097
Long-term Debt
Effective Yield to Maturity (as a percent)	7.51%
Debentures	$ 241		241
Percentage of the redemption price to the principal amount of debentures to be redeemed	100.00%
Debt instrument, interest rate (as a percent)	7.375%
Debt Instrument, Face Amount	$ 246
Financial Products Segment
Long-term Debt
Long-term Debt and Lease Obligation, Total	16,287		16,250
Medium-term notes	16,127		16,012
Other	160		238
Financial Products
Long-term Debt
Long-term Debt and Lease Obligation, Total	$ 16,287		$ 16,250
Medium-term Notes Weighted Average Interest Rate	1.50%
Medium-term Notes, Maximum Remaining Maturity	6 years

Long-term debt (Details 2)

Long-term debt (Details 2) - USD ($) $ in Millions	12 Months Ended
Long-term debt (Details 2) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Jan. 10, 2022
Long-term Debt
Medium-term notes, callable	$ 5
Face amount, medium term note reclassified	1,350
2022	6,352
2023	5,324
2024	8,142
2025	1,639
2026	1,561
Interest paid on short-term and long-term borrowings	920	$ 1,089	$ 1,057
Machinery, Energy & Transportation
Long-term Debt
2022	45
2023	103
2024	1,013
2025	10
2026	6
Financial Products
Long-term Debt
2022	6,307
2023	5,221
2024	7,129
2025	1,629
2026	1,555
Medium-term note mature in 2022
Long-term Debt
Medium-term notes excluded from current maturity of long-term debt	$ 1,350
Subsequent Event \| Medium-term Notes
Long-term Debt
Debt Instrument, Face Amount				$ 2,000
Subsequent Event \| Medium Term Note mature in 2027
Long-term Debt
Debt Instrument, Face Amount				500
Subsequent Event \| Medium Term Note mature in 2024
Long-term Debt
Debt Instrument, Face Amount				$ 1,500

Credit commitments (Details)

Credit commitments (Details) $ in Millions	12 Months Ended
Credit commitments (Details) $ in Millions	Dec. 31, 2021USD ($)facilities
Credit lines available:
Credit lines available	$ 13,751
Less: Commercial paper outstanding	(4,896)
Less: Utilized credit	(568)
Available credit	(8,287)
Consolidated net worth	16,580
Minimum consolidated net worth required under credit facilities	9,000
Utilized credit	(568)
Machinery, Energy & Transportation
Credit lines available:
Credit lines available	2,934
Less: Commercial paper outstanding	0
Less: Utilized credit	(9)
Available credit	(2,925)
Utilized credit	(9)
Financial Products Segment
Credit lines available:
Credit lines available	10,817
Less: Commercial paper outstanding	(4,896)
Less: Utilized credit	(559)
Available credit	(5,362)
Utilized credit	(559)
Global credit facilities
Credit lines available:
Credit lines available	10,500
Less: Utilized credit	$ 0
Number of global credit facilities \| facilities	3
Utilized credit	$ 0
Global credit facilities \| Machinery, Energy & Transportation
Credit lines available:
Credit lines available	2,750
Global credit facilities \| Financial Products Segment
Credit lines available:
Credit lines available	7,750
Other Consolidated Credit Lines
Credit lines available:
Credit lines available	3,251
Other Consolidated Credit Lines \| Machinery, Energy & Transportation
Credit lines available:
Credit lines available	184
Other Consolidated Credit Lines \| Financial Products Segment
Credit lines available:
Credit lines available	$ 3,067
Cat Financial
Credit lines available:
Interest coverage ratio, numerator	2.51
Interest coverage ratio, denominator	1
Minimum interest coverage ratio required under credit facilities, numerator	1.15
Minimum interest coverage ratio required under credit facilities, denominator	1
Six-month leverage ratio, numerator	7.25
Six month leverage ratio, denominator	1
Year-end leverage ratio, numerator	7.91
Year-end leverage ratio denominator	1
Maximum leverage ratio permissible under credit facility, numerator	10
Maximum leverage ratio permissible under credit facility, denominator	1
364-day credit facility \| Global credit facilities
Credit lines available:
Credit lines available	$ 3,150
Duration of credit facility (in years or days)	364 days
Line of Credit Facility, Expiration Date	Sep. 1, 2022
364-day credit facility \| Global credit facilities \| Machinery, Energy & Transportation
Credit lines available:
Credit lines available	$ 825
Three-year facility \| Global credit facilities
Credit lines available:
Credit lines available	$ 2,730
Duration of credit facility (in years or days)	3 years
Line of Credit Facility, Expiration Date	Sep. 30, 2024
Three-year facility \| Global credit facilities \| Machinery, Energy & Transportation
Credit lines available:
Credit lines available	$ 715
Five-year facility \| Global credit facilities
Credit lines available:
Credit lines available	$ 4,620
Duration of credit facility (in years or days)	5 years
Line of Credit Facility, Expiration Date	Sep. 30, 2026
Five-year facility \| Global credit facilities \| Machinery, Energy & Transportation
Credit lines available:
Credit lines available	$ 1,210

Profit per share (Details)

Profit per share (Details) - USD ($) $ / shares in Units, $ in Millions		12 Months Ended
		Dec. 31, 2021		Dec. 31, 2020	Dec. 31, 2019	Jul. 01, 2018
Earnings Per Share [Abstract]
Profit for the period (A) (in millions of dollars)	[1]	$ 6,489		$ 2,998	$ 6,093
Determination of shares (in millions)
Weighted-average number of common shares outstanding (B) (in shares)		544,000,000		544,100,000	561,600,000
Shares issuable on exercise of stock awards, net of shares assumed to be purchased out of proceeds at average market price (in shares)		4,500,000		4,500,000	5,900,000
Average common shares outstanding for fully diluted computation (C) (in shares)	[2]	548,500,000		548,600,000	567,500,000
Profit (loss) per share of common stock:
Assuming no dilution (A/B) (in dollars per share)		$ 11.93		$ 5.51	$ 10.85
Assuming full dilution (A/C) (in dollars per share)	[2]	$ 11.83		$ 5.46	$ 10.74
Shares outstanding as of December 31		535,900,000		545,300,000	550,100,000
Common shares under SARs and stock options not included in the computation of diluted earnings per share (in shares)		1,100,000		4,600,000	3,000,000
Common Stock Repurchase
Stock Repurchase Program, Authorized Amount						$ 10,000
Common shares repurchased (in shares)		12,987,299		10,096,006	30,586,507
Payments for repurchase of common stock		$ 2,668		$ 1,130	$ 4,047
Stock Repurchase Program, Remaining Authorized Repurchase Amount		2,100
Common shares repurchased		$ 2,668	[3]	$ 1,250	$ 3,928

[1]	Profit attributable to common shareholders.
[2]	Diluted by assumed exercise of stock-based compensation awards using the treasury stock method.
[3]	See Note 16 regarding shares repurchased.

Accumulated other comprehensi_3

Accumulated other comprehensive income (loss) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment	$ (1,508)	$ (910)	$ (1,487)	$ (1,601)
Gains (losses) on foreign currency translation	(559)	513	21
Less: Tax provision /(benefit)	41	(42)	5
Net gains (losses) on foreign currency translation	(600)	555	16
(Gains) losses reclassified to earnings	2	22	0
Less: Tax provision /(benefit)	0	0	0
Net (gains) losses reclassified to earnings	2	22	0
Other comprehensive income (loss), net of tax	(598)	577	16
Accumulated Other Comprehensive (Income) Loss, Pension and other postretirement benefits	(62)	(32)	(3)	12
Current year prior service credit (cost)	0	(1)	(4)
Less: Tax provision /(benefit)	0	0	0
Net current year prior service credit (cost)	0	(1)	(4)
Amortization of prior service (cost) credit	(40)	(38)	(40)
Less: Tax provision /(benefit)	(10)	(10)	(10)
Net amortization of prior service (credit) cost	(30)	(28)	(30)
Other comprehensive income (loss), net of tax	(30)	(29)	(34)
AOCI, Cash Flow Hedge, Cumulative Gain (Loss), after Tax	(3)	0	(97)	(80)
Gains (losses) deferred	195	(116)	57
Less: Tax provision /(benefit)	21	(25)	14
Net gains (losses) deferred	174	(91)	43
(Gains) losses reclassified to earnings	(196)	241	(66)
Less: Tax provision /(benefit)	(19)	53	(15)
Net (gains) losses reclassified to earnings	(177)	188	(51)
Other comprehensive income (loss), net of tax	(3)	97	(8)
AOCI, Debt Securities, Available-for-sale securities	20	54	20	(15)
Gains (losses) deferred	(39)	45	45
Less: Tax provision /(benefit)	(8)	10	10
Net gains (losses) deferred	(31)	35	35
(Gains) losses reclassified to earnings	(4)	(1)	0
Less: Tax provision /(benefit)	(1)	0	0
Net (gains) losses reclassified to earnings	(3)	(1)	0
Other comprehensive income (loss), net of tax	(34)	34	35
Accumulated other comprehensive income (loss)	$ (1,553)	(888)	(1,567)
Cumulative Effect, Period of Adoption, Adjusted Balance
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment		(910)	(1,487)	(1,503)
Accumulated Other Comprehensive (Income) Loss, Pension and other postretirement benefits		(32)	(3)	31
AOCI, Cash Flow Hedge, Cumulative Gain (Loss), after Tax		0	(97)	(89)
AOCI, Debt Securities, Available-for-sale securities		54	20	(15)
Reclassification of certain tax effects from accumulated other comprehensive income \| Cumulative Effect, Period of Adoption, Adjustment [Member]
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment		0	0	98
Accumulated Other Comprehensive (Income) Loss, Pension and other postretirement benefits		0	0	19
AOCI, Cash Flow Hedge, Cumulative Gain (Loss), after Tax		0	0	(9)
AOCI, Debt Securities, Available-for-sale securities		$ 0	$ 0	$ 0

Fair value disclosures (Details

Fair value disclosures (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Assets and liabilities measured on a recurring basis at fair value
Fair Value of debt securities	$ 1,721	$ 1,683
Recurring basis
Assets and liabilities measured on a recurring basis at fair value
Fair Value of debt securities	1,721	1,683
Fair value of equity securities	482	405
Total Assets	2,415	2,183
Total Liabilities		112
Recurring basis \| Foreign exchange contracts
Assets and liabilities measured on a recurring basis at fair value
Derivative Assets (Liabilities), at Fair Value, Net	168	(112)
Recurring basis \| Interest rate contracts
Assets and liabilities measured on a recurring basis at fair value
Derivative Assets (Liabilities), at Fair Value, Net	23	58
Recurring basis \| Commodity contracts
Assets and liabilities measured on a recurring basis at fair value
Derivative Assets (Liabilities), at Fair Value, Net	21	37
Government debt - U.S. treasury bonds
Assets and liabilities measured on a recurring basis at fair value
Fair Value of debt securities	10	10
Government debt - U.S. treasury bonds \| Recurring basis
Assets and liabilities measured on a recurring basis at fair value
Fair Value of debt securities	10	10
Other U.S. and non-U.S. government bonds
Assets and liabilities measured on a recurring basis at fair value
Fair Value of debt securities	61	59
Other U.S. and non-U.S. government bonds \| Recurring basis
Assets and liabilities measured on a recurring basis at fair value
Fair Value of debt securities	61	59
Corporate bonds
Assets and liabilities measured on a recurring basis at fair value
Fair Value of debt securities	1,046	1,012
Corporate bonds \| Recurring basis
Assets and liabilities measured on a recurring basis at fair value
Fair Value of debt securities	1,046	1,012
Corporate bonds - Asset-backed securities
Assets and liabilities measured on a recurring basis at fair value
Fair Value of debt securities	176	159
Corporate bonds - Asset-backed securities \| Recurring basis
Assets and liabilities measured on a recurring basis at fair value
Fair Value of debt securities	176	159
U.S. governmental agency \| Recurring basis
Assets and liabilities measured on a recurring basis at fair value
Fair Value of debt securities	325	374
Mortgage-backed securities - Residential
Assets and liabilities measured on a recurring basis at fair value
Fair Value of debt securities	4	5
Mortgage-backed securities - Residential \| Recurring basis
Assets and liabilities measured on a recurring basis at fair value
Fair Value of debt securities	4	5
Mortgage-backed securities - Commercial
Assets and liabilities measured on a recurring basis at fair value
Fair Value of debt securities	99	64
Mortgage-backed securities - Commercial \| Recurring basis
Assets and liabilities measured on a recurring basis at fair value
Fair Value of debt securities	99	64
Large capitalization value \| Recurring basis
Assets and liabilities measured on a recurring basis at fair value
Fair value of equity securities	217	199
Smaller company growth \| Recurring basis
Assets and liabilities measured on a recurring basis at fair value
Fair value of equity securities	98	58
REIT \| Recurring basis
Assets and liabilities measured on a recurring basis at fair value
Fair value of equity securities	167	148
Level 1 \| Recurring basis
Assets and liabilities measured on a recurring basis at fair value
Fair Value of debt securities	10	10
Fair value of equity securities	315	257
Total Assets	325	267
Total Liabilities		0
Level 1 \| Government debt - U.S. treasury bonds \| Recurring basis
Assets and liabilities measured on a recurring basis at fair value
Fair Value of debt securities	10	10
Level 1 \| Other U.S. and non-U.S. government bonds \| Recurring basis
Assets and liabilities measured on a recurring basis at fair value
Fair Value of debt securities	0	0
Level 1 \| Corporate bonds \| Recurring basis
Assets and liabilities measured on a recurring basis at fair value
Fair Value of debt securities	0	0
Level 1 \| Corporate bonds - Asset-backed securities \| Recurring basis
Assets and liabilities measured on a recurring basis at fair value
Fair Value of debt securities	0	0
Level 1 \| U.S. governmental agency \| Recurring basis
Assets and liabilities measured on a recurring basis at fair value
Fair Value of debt securities	0	0
Level 1 \| Mortgage-backed securities - Residential \| Recurring basis
Assets and liabilities measured on a recurring basis at fair value
Fair Value of debt securities	0	0
Level 1 \| Mortgage-backed securities - Commercial \| Recurring basis
Assets and liabilities measured on a recurring basis at fair value
Fair Value of debt securities	0	0
Level 1 \| Large capitalization value \| Recurring basis
Assets and liabilities measured on a recurring basis at fair value
Fair value of equity securities	217	199
Level 1 \| Smaller company growth \| Recurring basis
Assets and liabilities measured on a recurring basis at fair value
Fair value of equity securities	98	58
Level 1 \| REIT \| Recurring basis
Assets and liabilities measured on a recurring basis at fair value
Fair value of equity securities	0	0
Level 2 \| Recurring basis
Assets and liabilities measured on a recurring basis at fair value
Fair Value of debt securities	1,711	1,673
Fair value of equity securities	0	0
Total Assets	1,923	1,768
Total Liabilities		112
Level 2 \| Recurring basis \| Foreign exchange contracts
Assets and liabilities measured on a recurring basis at fair value
Derivative Assets (Liabilities), at Fair Value, Net	168	(112)
Level 2 \| Recurring basis \| Interest rate contracts
Assets and liabilities measured on a recurring basis at fair value
Derivative Assets (Liabilities), at Fair Value, Net	23	58
Level 2 \| Recurring basis \| Commodity contracts
Assets and liabilities measured on a recurring basis at fair value
Derivative Assets (Liabilities), at Fair Value, Net	21	37
Level 2 \| Government debt - U.S. treasury bonds \| Recurring basis
Assets and liabilities measured on a recurring basis at fair value
Fair Value of debt securities	0	0
Level 2 \| Other U.S. and non-U.S. government bonds \| Recurring basis
Assets and liabilities measured on a recurring basis at fair value
Fair Value of debt securities	61	59
Level 2 \| Corporate bonds \| Recurring basis
Assets and liabilities measured on a recurring basis at fair value
Fair Value of debt securities	1,046	1,012
Level 2 \| Corporate bonds - Asset-backed securities \| Recurring basis
Assets and liabilities measured on a recurring basis at fair value
Fair Value of debt securities	176	159
Level 2 \| U.S. governmental agency \| Recurring basis
Assets and liabilities measured on a recurring basis at fair value
Fair Value of debt securities	325	374
Level 2 \| Mortgage-backed securities - Residential \| Recurring basis
Assets and liabilities measured on a recurring basis at fair value
Fair Value of debt securities	4	5
Level 2 \| Mortgage-backed securities - Commercial \| Recurring basis
Assets and liabilities measured on a recurring basis at fair value
Fair Value of debt securities	99	64
Level 2 \| Large capitalization value \| Recurring basis
Assets and liabilities measured on a recurring basis at fair value
Fair value of equity securities	0	0
Level 2 \| Smaller company growth \| Recurring basis
Assets and liabilities measured on a recurring basis at fair value
Fair value of equity securities	0	0
Level 2 \| REIT \| Recurring basis
Assets and liabilities measured on a recurring basis at fair value
Fair value of equity securities	0	0
Level 3 \| Recurring basis
Assets and liabilities measured on a recurring basis at fair value
Fair Value of debt securities	0	0
Fair value of equity securities	0	0
Total Assets	0	0
Level 3 \| Government debt - U.S. treasury bonds \| Recurring basis
Assets and liabilities measured on a recurring basis at fair value
Fair Value of debt securities	0	0
Level 3 \| Other U.S. and non-U.S. government bonds \| Recurring basis
Assets and liabilities measured on a recurring basis at fair value
Fair Value of debt securities	0	0
Level 3 \| Corporate bonds \| Recurring basis
Assets and liabilities measured on a recurring basis at fair value
Fair Value of debt securities	0	0
Level 3 \| Corporate bonds - Asset-backed securities \| Recurring basis
Assets and liabilities measured on a recurring basis at fair value
Fair Value of debt securities	0	0
Level 3 \| U.S. governmental agency \| Recurring basis
Assets and liabilities measured on a recurring basis at fair value
Fair Value of debt securities	0	0
Level 3 \| Mortgage-backed securities - Residential \| Recurring basis
Assets and liabilities measured on a recurring basis at fair value
Fair Value of debt securities	0	0
Level 3 \| Mortgage-backed securities - Commercial \| Recurring basis
Assets and liabilities measured on a recurring basis at fair value
Fair Value of debt securities	0	0
Level 3 \| Large capitalization value \| Recurring basis
Assets and liabilities measured on a recurring basis at fair value
Fair value of equity securities	0	0
Level 3 \| Smaller company growth \| Recurring basis
Assets and liabilities measured on a recurring basis at fair value
Fair value of equity securities	0	0
Level 3 \| REIT \| Recurring basis
Assets and liabilities measured on a recurring basis at fair value
Fair value of equity securities	0	0
Measured at NAV \| Recurring basis
Assets and liabilities measured on a recurring basis at fair value
Fair value of equity securities	167	148
Total Assets	167	148
Measured at NAV \| REIT \| Recurring basis
Assets and liabilities measured on a recurring basis at fair value
Fair value of equity securities	$ 167	$ 148

Fair value disclosures (Detai_2

Fair value disclosures (Details 2) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Level 3 \| Financial Products \| Nonrecurring basis
Assets measured on a nonrecurring basis at fair value
Loans Carried at Fair Value	$ 100	$ 243

Fair value disclosures (Detai_3

Fair value disclosures (Details 3) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Carrying Amount
Assets
Finance receivables-net (excluding finance leases)	$ 13,837	$ 14,028
Wholesale inventory receivables-net (excluding finance leases)	773	929
Carrying Amount \| Machinery, Energy & Transportation
Liabilities
Long-term debt (including amounts due within one year)	9,791	11,169
Carrying Amount \| Financial Products
Liabilities
Long-term debt (including amounts due within one year)	22,594	23,979
Carrying amount of assets excluded from measurement at fair value
Liabilities
Excluded items: Finance leases and failed sale leasebacks, Carrying Value	8,083	7,961
Level 2 \| Fair Value \| Machinery, Energy & Transportation
Liabilities
Long-term debt (including amounts due within one year)	12,420	14,549
Level 2 \| Fair Value \| Financial Products
Liabilities
Long-term debt (including amounts due within one year)	22,797	24,614
Level 3 \| Fair Value
Assets
Finance receivables-net (excluding finance leases)	13,836	14,357
Wholesale inventory receivables-net (excluding finance leases)	$ 753	$ 911

Concentration of credit risk (D

Concentration of credit risk (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Risks and Uncertainties [Abstract]
Derivative contracts, maximum exposure to credit loss	$ 342	$ 281

Leases Lessee arrangements - Le

Leases Lessee arrangements - Lease costs (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Lease, Cost
Operating Lease, Cost	$ 214	$ 204
Short-term Lease, Cost	$ 46	$ 50

Leases Lessee arrangements - Su

Leases Lessee arrangements - Supplemental balance sheet information related to leases (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Operating leases in supplement balance sheet
Other assets	$ 625	$ 603
Other current liabilities	158	163
Other liabilities	$ 484	$ 457
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Other assets	Other assets
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Other current liabilities	Other current liabilities
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other liabilities	Other liabilities
Operating lease weighted average remaining lease term	7 years	7 years
Operating lease weighted average discount rate	2.00%	2.00%

Leases Lessee arrangements - Ma

Leases Lessee arrangements - Maturity of lease liabilities (Details) $ in Millions	Dec. 31, 2021USD ($)
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity
2022	$ 165
2023	126
2024	94
2025	69
2026	51
Thereafter	190
Total lease payments	695
Less: Imputed interest	(53)
Other Liabilities
Lease assets and liabilities
Total	$ 642

Leases Lessee arrangements - _2

Leases Lessee arrangements - Supplemental cash flow information related to leases (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Supplemental cash flow info related to leases
Operating cashflows from operating leases	$ 206	$ 201
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	$ 238	$ 178

Leases Lessor arrangements- Equ

Leases Lessor arrangements- Equipment leased to others (Details) - Machinery, equipment and other - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Equipment leased to others
Equipment leased to others - at original cost	$ 5,733	$ 6,077
Less: Accumulated depreciation	(1,870)	(2,035)
Equipment leased to others - net	$ 3,863	$ 4,042

Leases Leases Lessor arrangemen

Leases Leases Lessor arrangements - Operating lease payment maturity (Details) $ in Millions	Dec. 31, 2021USD ($)
Operating Leases payment maturity
2022	$ 761
2023	478
2024	272
2025	145
2026	56
Thereafter	28
Total	$ 1,740

Leases Leases Lessor arrangem_2

Leases Leases Lessor arrangements - Revenues from finance and operating leases (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Sales-type Lease, Revenue	$ 485	$ 492
Operating lease revenue	1,128	1,124
Lease Income	$ 1,613	$ 1,616

Guarantees and product warran_3

Guarantees and product warranty (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Related liability	$ 5	$ 5
Guarantor Obligations
Guarantees, maximum potential amount of future payments	1,221	1,485
SPC assets in consolidated statement	82,793	78,324
SPC liabilities in consolidated statement	66,277	62,946
Unused commitments and lines of credit for dealers	10,710
Unused commitments and lines of credit for customers	641
Variable Interest Entity, Primary Beneficiary [Member]
Guarantor Obligations
SPC assets in consolidated statement	888	1,026
SPC liabilities in consolidated statement	888	1,025
Caterpillar dealer performance guarantees
Guarantor Obligations
Guarantees, maximum potential amount of future payments	747	993
Supplier consortium performance guarantee
Guarantor Obligations
Guarantees, maximum potential amount of future payments	242	258
Other guarantees
Guarantor Obligations
Guarantees, maximum potential amount of future payments	$ 232	$ 234

Guarantees and product warran_4

Guarantees and product warranty (Details 2) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Movement in Standard Product Warranty Accrual
Warranty liability, beginning balance	$ 1,612	$ 1,541
Reduction in liability (payments)	(854)	(897)
Increase in liability (new warranties)	931	968
Warranty liability, ending balance	$ 1,689	$ 1,612

Environmental and legal matte_2

Environmental and legal matters Environmental and legal matters (Details)	Jan. 27, 2020USD ($)	Mar. 03, 2017
IBAMA allegations
Loss Contingencies
Proposed fine	$ 300,000
IRS investigation
Loss Contingencies
Number of facilities served search and seizure warrants		3

Segment Information (Details)

Segment Information (Details)	12 Months Ended
Segment Information (Details)	Dec. 31, 2021group_presidentssegmentsdealers
Segment Reporting Information
Number of group presidents \| group_presidents	4
Number of operating segments	5
Useful life to amortize goodwill for segment assets	20 years
Reportable Subsegments
Segment Reporting Information
Number of operating segments led by Group Presidents	3
Number of operating segments led by Group president responsible for corporate services	1
Number of reportable segments	4
All Other operating segments
Segment Reporting Information
Number of group presidents \| group_presidents	1
Number of smaller operating segments led by Group President \| group_presidents	1
Number of wholly-owned dealers involved in segment reallocation \| dealers	1

Sales and revenues by geographi

Sales and revenues by geographic region (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Sales and revenue by geographic region
Sales and revenues	$ 50,971	$ 41,748	$ 53,800
Reportable Subsegments
Sales and revenue by geographic region
Sales and revenues	55,429	45,338	58,456
Intersubsegment Eliminations
Sales and revenue by geographic region
Sales and revenues	(4,969)	(4,057)	(5,156)
Operating Segments \| Reportable Subsegments
Sales and revenue by geographic region
Sales and revenues	51,239	42,030	54,288
Corporate, Non-Segment \| Intersubsegment Eliminations
Sales and revenue by geographic region
Sales and revenues	(413)	(395)	(615)
Segment Reconciling Items \| Reportable Subsegments
Sales and revenue by geographic region
Sales and revenues	4,190	3,308	4,168
Intersegment Eliminations \| Intersubsegment Eliminations
Sales and revenue by geographic region
Sales and revenues	(4,556)	(3,662)	(4,541)
North America
Sales and revenue by geographic region
Sales and revenues	22,023	18,214	25,785
North America \| Operating Segments \| Reportable Subsegments
Sales and revenue by geographic region
Sales and revenues	22,209	18,424	26,186
North America \| Corporate, Non-Segment \| Intersubsegment Eliminations
Sales and revenue by geographic region
Sales and revenues	(242)	(237)	(426)
Latin America
Sales and revenue by geographic region
Sales and revenues	5,086	3,432	4,710
Latin America \| Operating Segments \| Reportable Subsegments
Sales and revenue by geographic region
Sales and revenues	5,135	3,473	4,754
Latin America \| Corporate, Non-Segment \| Intersubsegment Eliminations
Sales and revenue by geographic region
Sales and revenues	(51)	(45)	(51)
EAME
Sales and revenue by geographic region
Sales and revenues	12,137	9,858	11,223
EAME \| Operating Segments \| Reportable Subsegments
Sales and revenue by geographic region
Sales and revenues	12,155	9,876	11,250
EAME \| Corporate, Non-Segment \| Intersubsegment Eliminations
Sales and revenue by geographic region
Sales and revenues	(36)	(44)	(55)
Asia/Pacific
Sales and revenue by geographic region
Sales and revenues	11,725	10,244	12,082
Asia/Pacific \| Operating Segments \| Reportable Subsegments
Sales and revenue by geographic region
Sales and revenues	11,740	10,257	12,098
Asia/Pacific \| Corporate, Non-Segment \| Intersubsegment Eliminations
Sales and revenue by geographic region
Sales and revenues	(84)	(69)	(83)
Construction Industries \| Reportable Subsegments
Sales and revenue by geographic region
Sales and revenues	22,106	16,918	22,649
Construction Industries \| Operating Segments \| Reportable Subsegments
Sales and revenue by geographic region
Sales and revenues	21,994	16,876	22,556
Construction Industries \| Segment Reconciling Items \| Reportable Subsegments
Sales and revenue by geographic region
Sales and revenues	112	42	93
Construction Industries \| North America \| Operating Segments \| Reportable Subsegments
Sales and revenue by geographic region
Sales and revenues	9,676	7,365	11,455
Construction Industries \| Latin America \| Operating Segments \| Reportable Subsegments
Sales and revenue by geographic region
Sales and revenues	1,913	1,031	1,533
Construction Industries \| EAME \| Operating Segments \| Reportable Subsegments
Sales and revenue by geographic region
Sales and revenues	4,858	3,466	4,012
Construction Industries \| Asia/Pacific \| Operating Segments \| Reportable Subsegments
Sales and revenue by geographic region
Sales and revenues	5,547	5,014	5,556
Resource Industries \| Reportable Subsegments
Sales and revenue by geographic region
Sales and revenues	9,963	7,906	10,276
Resource Industries \| Operating Segments \| Reportable Subsegments
Sales and revenue by geographic region
Sales and revenues	9,502	7,446	9,813
Resource Industries \| Segment Reconciling Items \| Reportable Subsegments
Sales and revenue by geographic region
Sales and revenues	461	460	463
Resource Industries \| North America \| Operating Segments \| Reportable Subsegments
Sales and revenue by geographic region
Sales and revenues	2,987	2,286	3,632
Resource Industries \| Latin America \| Operating Segments \| Reportable Subsegments
Sales and revenue by geographic region
Sales and revenues	1,724	1,253	1,533
Resource Industries \| EAME \| Operating Segments \| Reportable Subsegments
Sales and revenue by geographic region
Sales and revenues	1,987	1,570	1,836
Resource Industries \| Asia/Pacific \| Operating Segments \| Reportable Subsegments
Sales and revenue by geographic region
Sales and revenues	2,804	2,337	2,812
Energy & Transportation
Sales and revenue by geographic region
Sales and revenues	16,670	14,664	18,485
Energy & Transportation \| Reportable Subsegments
Sales and revenue by geographic region
Sales and revenues	20,287	17,470	22,097
Energy & Transportation \| Operating Segments \| Reportable Subsegments
Sales and revenue by geographic region
Sales and revenues	16,670	14,664	18,485
Energy & Transportation \| Segment Reconciling Items \| Reportable Subsegments
Sales and revenue by geographic region
Sales and revenues	3,617	2,806	3,612
Energy & Transportation \| North America \| Operating Segments \| Reportable Subsegments
Sales and revenue by geographic region
Sales and revenues	7,611	6,843	8,864
Energy & Transportation \| Latin America \| Operating Segments \| Reportable Subsegments
Sales and revenue by geographic region
Sales and revenues	1,233	932	1,389
Energy & Transportation \| EAME \| Operating Segments \| Reportable Subsegments
Sales and revenue by geographic region
Sales and revenues	4,908	4,448	4,994
Energy & Transportation \| Asia/Pacific \| Operating Segments \| Reportable Subsegments
Sales and revenue by geographic region
Sales and revenues	2,918	2,441	3,238
Financial Products Segment
Sales and revenue by geographic region
Revenue from Related Parties	351	362	524
Financial Products Segment \| Reportable Subsegments
Sales and revenue by geographic region
Sales and revenues	3,073	3,044	3,434
Financial Products Segment \| Operating Segments \| Reportable Subsegments
Sales and revenue by geographic region
Sales and revenues	3,073	3,044	3,434
Financial Products Segment \| Segment Reconciling Items \| Reportable Subsegments
Sales and revenue by geographic region
Sales and revenues	0	0	0
Financial Products Segment \| North America \| Operating Segments \| Reportable Subsegments
Sales and revenue by geographic region
Sales and revenues	1,935	1,930	2,235
Financial Products Segment \| Latin America \| Operating Segments \| Reportable Subsegments
Sales and revenue by geographic region
Sales and revenues	265	257	299
Financial Products Segment \| EAME \| Operating Segments \| Reportable Subsegments
Sales and revenue by geographic region
Sales and revenues	402	392	408
Financial Products Segment \| Asia/Pacific \| Operating Segments \| Reportable Subsegments
Sales and revenue by geographic region
Sales and revenues	471	465	492
All Other
Sales and revenue by geographic region
Sales and revenues	511	467	500
All Other \| Operating Segments
Sales and revenue by geographic region
Sales and revenues	145	113	127
All Other \| Segment Reconciling Items
Sales and revenue by geographic region
Sales and revenues	366	354	373
All Other \| North America \| Operating Segments
Sales and revenue by geographic region
Sales and revenues	56	27	25
All Other \| Latin America \| Operating Segments
Sales and revenue by geographic region
Sales and revenues	2	4	7
All Other \| EAME \| Operating Segments
Sales and revenue by geographic region
Sales and revenues	18	26	28
All Other \| Asia/Pacific \| Operating Segments
Sales and revenue by geographic region
Sales and revenues	$ 69	$ 56	$ 67

Energy & Transportation sales (

Energy & Transportation sales (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Energy and transportation sales
External sales and revenues	$ 50,971	$ 41,748	$ 53,800
Energy & Transportation
Energy and transportation sales
External sales and revenues	16,670	14,664	18,485
Energy & Transportation \| Oil And Gas
Energy and transportation sales
External sales and revenues	4,460	3,701	5,205
Energy & Transportation \| Power generation
Energy and transportation sales
External sales and revenues	4,292	3,963	4,474
Energy & Transportation \| Industrial
Energy and transportation sales
External sales and revenues	3,612	2,945	3,749
Energy & Transportation \| Transportation
Energy and transportation sales
External sales and revenues	$ 4,306	$ 4,055	$ 5,057

Reconciliations of consolidated

Reconciliations of consolidated profit before taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Reconciliation of Consolidated profit (loss) before taxes
Consolidated profit before tax	$ 8,204	$ 3,995	$ 7,812
Operating Segments \| Reportable Subsegments
Reconciliation of Consolidated profit (loss) before taxes
Consolidated profit before tax	8,673	6,264	10,302
Operating Segments \| All Other operating segments
Reconciliation of Consolidated profit (loss) before taxes
Consolidated profit before tax	(14)	28	4
Consolidating Adjustments \| Cost Centers
Reconciliation of Consolidated profit (loss) before taxes
Consolidated profit before tax	(4)	(4)	(6)
Consolidating Adjustments \| Corporate Costs
Reconciliation of Consolidated profit (loss) before taxes
Consolidated profit before tax	(699)	(517)	(607)
Consolidating Adjustments \| Timing
Reconciliation of Consolidated profit (loss) before taxes
Consolidated profit before tax	(263)	(106)	(93)
Consolidating Adjustments \| Restructuring Costs
Reconciliation of Consolidated profit (loss) before taxes
Consolidated profit before tax	(90)	(241)	(207)
Consolidating Adjustments \| Inventory/cost of sales
Reconciliation of Consolidated profit (loss) before taxes
Consolidated profit before tax	122	4	(19)
Consolidating Adjustments \| Postretirement Benefits Expense
Reconciliation of Consolidated profit (loss) before taxes
Consolidated profit before tax	1,171	(173)	(401)
Consolidating Adjustments \| Stock-Based Compensation Expense
Reconciliation of Consolidated profit (loss) before taxes
Consolidated profit before tax	(199)	(202)	(205)
Consolidating Adjustments \| Financing Costs
Reconciliation of Consolidated profit (loss) before taxes
Consolidated profit before tax	(449)	(444)	(248)
Consolidating Adjustments \| Currency
Reconciliation of Consolidated profit (loss) before taxes
Consolidated profit before tax	258	(266)	(175)
Consolidating Adjustments \| Other Income Expense Methodology Differences
Reconciliation of Consolidated profit (loss) before taxes
Consolidated profit before tax	(267)	(322)	(481)
Consolidating Adjustments \| Other
Reconciliation of Consolidated profit (loss) before taxes
Consolidated profit before tax	(35)	(26)	(52)
Construction Industries \| Operating Segments \| Reportable Subsegments
Reconciliation of Consolidated profit (loss) before taxes
Consolidated profit before tax	3,706	2,373	3,931
Resource Industries \| Operating Segments \| Reportable Subsegments
Reconciliation of Consolidated profit (loss) before taxes
Consolidated profit before tax	1,291	896	1,629
Energy & Transportation \| Operating Segments \| Reportable Subsegments
Reconciliation of Consolidated profit (loss) before taxes
Consolidated profit before tax	2,768	2,405	3,910
Financial Products Segment \| Operating Segments \| Reportable Subsegments
Reconciliation of Consolidated profit (loss) before taxes
Consolidated profit before tax	$ 908	$ 590	$ 832

Reconciliation of assets (Detai

Reconciliation of assets (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Reconciliation of assets
Segment assets	$ 82,793	$ 78,324
Consolidating Adjustments
Reconciliation of assets
Inventory Methodology Difference	(2,656)	(2,536)
Consolidating Adjustments \| Cash and Short Term Investments
Reconciliation of assets
Segment assets	8,428	8,822
Consolidating Adjustments \| Deferred Income Taxes
Reconciliation of assets
Segment assets	1,735	1,413
Consolidating Adjustments \| Goodwill and Intangible Assets
Reconciliation of assets
Segment assets	4,859	4,847
Consolidating Adjustments \| Property Plant and Equipment-Net and Other Assets
Reconciliation of assets
Segment assets	4,056	2,833
Consolidating Adjustments \| Liabilities Included in Segment Assets
Reconciliation of assets
Segment assets	10,777	8,466
Consolidating Adjustments \| Other
Reconciliation of assets
Segment assets	(706)	(392)
Operating Segments \| Reportable Subsegments
Reconciliation of assets
Segment assets	54,622	53,154
Operating Segments \| All Other operating segments
Reconciliation of assets
Segment assets	1,678	1,717
Construction Industries \| Operating Segments \| Reportable Subsegments
Reconciliation of assets
Segment assets	4,547	4,259
Resource Industries \| Operating Segments \| Reportable Subsegments
Reconciliation of assets
Segment assets	5,962	6,035
Energy & Transportation \| Operating Segments \| Reportable Subsegments
Reconciliation of assets
Segment assets	9,253	8,582
Financial Products Segment \| Operating Segments \| Reportable Subsegments
Reconciliation of assets
Segment assets	$ 34,860	$ 34,278

Reconciliations of depreciation

Reconciliations of depreciation and amortization (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Reconciliation of Depreciation and amortization:
Depreciation and amortization	$ 2,352	$ 2,432	$ 2,577
Operating Segments \| Reportable Subsegments
Reconciliation of Depreciation and amortization:
Depreciation and amortization	1,983	2,029	2,205
Consolidating Adjustments \| All Other operating segments
Reconciliation of Depreciation and amortization:
Depreciation and amortization	243	267	210
Consolidating Adjustments \| Cost Centers
Reconciliation of Depreciation and amortization:
Depreciation and amortization	98	126	135
Consolidating Adjustments \| Other
Reconciliation of Depreciation and amortization:
Depreciation and amortization	28	10	27
Construction Industries \| Operating Segments \| Reportable Subsegments
Reconciliation of Depreciation and amortization:
Depreciation and amortization	237	245	302
Resource Industries \| Operating Segments \| Reportable Subsegments
Reconciliation of Depreciation and amortization:
Depreciation and amortization	403	418	450
Energy & Transportation \| Operating Segments \| Reportable Subsegments
Reconciliation of Depreciation and amortization:
Depreciation and amortization	571	593	624
Financial Products Segment \| Operating Segments \| Reportable Subsegments
Reconciliation of Depreciation and amortization:
Depreciation and amortization	$ 772	$ 773	$ 829

Reconciliations of capital expe

Reconciliations of capital expenditures (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Reconciliation of Capital expenditures:
Total capital expenditures	$ 2,472	$ 2,115	$ 2,669
Operating Segments \| Reportable Subsegments
Reconciliation of Capital expenditures:
Total capital expenditures	2,299	1,933	2,516
Consolidating Adjustments \| All Other operating segments
Reconciliation of Capital expenditures:
Total capital expenditures	182	156	131
Consolidating Adjustments \| Cost Centers
Reconciliation of Capital expenditures:
Total capital expenditures	56	47	101
Consolidating Adjustments \| Timing
Reconciliation of Capital expenditures:
Total capital expenditures	(74)	19	(11)
Consolidating Adjustments \| Other
Reconciliation of Capital expenditures:
Total capital expenditures	9	(40)	(68)
Construction Industries \| Operating Segments \| Reportable Subsegments
Reconciliation of Capital expenditures:
Total capital expenditures	255	213	201
Resource Industries \| Operating Segments \| Reportable Subsegments
Reconciliation of Capital expenditures:
Total capital expenditures	199	125	168
Energy & Transportation \| Operating Segments \| Reportable Subsegments
Reconciliation of Capital expenditures:
Total capital expenditures	627	495	613
Financial Products Segment \| Operating Segments \| Reportable Subsegments
Reconciliation of Capital expenditures:
Total capital expenditures	$ 1,218	$ 1,100	$ 1,534

Information about Geogrphic are

Information about Geogrphic areas (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Segment Reporting Information
External sales and revenues	$ 50,971	$ 41,748	$ 53,800
Property, Plant and Equipment, Net	12,090	12,401
Inside United States
Segment Reporting Information
External sales and revenues	19,298	16,269	22,806
Property, Plant and Equipment, Net	7,035	7,242
Outside the United States
Segment Reporting Information
External sales and revenues	31,673	25,479	$ 30,994
Property, Plant and Equipment, Net	$ 5,055	$ 5,159

Acquisitions (Details)

Acquisitions (Details) - USD ($) $ in Millions	Feb. 01, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Acquisitions
Net cash paid for acquisition		$ 490	$ 111	$ 47
SPM Oil & Gas
Acquisitions
Net cash paid for acquisition	$ 359
Assets acquired
Acquired Cash	22
Receivables	106
Tangible assets acquired	520
Inventory	159
Business Combination, Lease Asset	105
Property, plant and equipment	$ 117
Finite-lived intangible assets, weighed average useful life (in years)	8 years
Finite-lived intangible assets acquired	$ 23
Business Combination, Goodwill	30
Liabilities assumed
Business Combination, Accounts Payable	33
Total liabilities assumed	192
Business Combination, Lease Obligation	$ 105

Restructuring Costs (Details)

Restructuring Costs (Details) - USD ($) $ in Millions	12 Months Ended			52 Months Ended
Restructuring Costs (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2019
Restructuring Cost [Abstract]
Restructuring costs	$ 90	$ 354	$ 236
Employee Separation Activity
Liability balance at beginning of period	164	48
Increase in liability (separation charges)	92	271
Reduction in liability (payments)	195	155
Liability balance at end of period	61	164	48	$ 48
Construction Industries
Restructuring Cost [Abstract]
Restructuring costs	0	13	4
Resource Industries
Restructuring Cost [Abstract]
Restructuring costs	0	19	5
Energy & Transportation
Restructuring Cost [Abstract]
Restructuring costs	0	55	7
Financial Products Segment
Restructuring Cost [Abstract]
Restructuring costs	0	0	0
Other restructuring costs
Restructuring Cost [Abstract]
Restructuring costs	59	43	122
Other operating income (expense) \| Employee separation
Restructuring Cost [Abstract]
Restructuring costs	92	271	48
Other operating income (expense) \| Contract termination
Restructuring Cost [Abstract]
Restructuring costs	2	2	1
Other operating income (expense) \| Long-lived asset impairments
Restructuring Cost [Abstract]
Restructuring costs	$ (63)	$ 38	65
September 2015 announcement
Restructuring Cost [Abstract]
Restructuring costs			$ 43	$ 1,831