Investments in Unconsolidated Affiliated Companies

9 Months Ended

Sep. 30, 2013

Equity Method Investments and Joint Ventures [Abstract]

Investments in Unconsolidated Affiliated Companies

Investments in Unconsolidated Affiliated Companies

Combined financial information of the unconsolidated affiliated companies accounted for by the equity method (generally on a lag of 3 months or less) was as follows:

Results of Operations of unconsolidated affiliated companies: (Millions of dollars)	Three Months Ended September 30,					Nine Months Ended September 30,
	2013			2012		2013			2012
Sales	$	349		$	253	$	916		$	625
Cost of sales	284			206		722			492
Gross profit	$	65		$	47	$	194		$	133
Profit (loss)	$	(6	)	$	17	$	(31	)	$	39

Financial Position of unconsolidated affiliated companies: (Millions of dollars)	September 30, 2013		December 31, 2012
Assets:
Current assets	$	707	$	715
Property, plant and equipment – net	714		529
Other assets	498		616
	1,919		1,860
Liabilities:
Current liabilities	450		443
Long-term debt due after one year	887		708
Other liabilities	167		170
	1,504		1,321
Equity	$	415	$	539

Caterpillar’s investments in unconsolidated affiliated companies: (Millions of dollars)	September 30, 2013		December 31, 2012
Investments in equity method companies	$	268	$	256
Plus: Investments in cost method companies	10		16
Total investments in unconsolidated affiliated companies	$	278	$	272

The change in the results of operations amounts for the three and nine months ended September 30, 2013 as compared to September 30, 2012 primarily relates to the third party logistics business, in which Caterpillar sold a majority interest on July 31, 2012. Under the terms of the agreement, Caterpillar retained a 35 percent equity interest.