Segment Information (Tables)

3 Months Ended

Mar. 31, 2014



Reportable Segments
Three Months Ended March 31,
(Millions of dollars)
	2014
	External sales and revenues		Inter- segment sales and revenues		Total sales and revenues		Depreciation and amortization		Segment profit		Segment assets at March 31		Capital expenditures
Construction Industries	$	5,064	$	75	$	5,139	$	134	$	688	$	7,061	$	64
Resource Industries	2,123		113		2,236		173		149		10,141		24
Energy & Transportation	4,776		550		5,326		156		827		8,346		76
Machinery, Energy & Transportation	$	11,963	$	738	$	12,701	$	463	$	1,664	$	25,548	$	164
Financial Products Segment	817		—		817		219		240		37,415		269
Total	$	12,780	$	738	$	13,518	$	682	$	1,904	$	62,963	$	433

	2013
	External sales and revenues		Inter- segment sales and revenues		Total sales and revenues		Depreciation and amortization		Segment profit		Segment assets at December 31		Capital expenditures
Construction Industries	$	4,219	$	99	$	4,318	$	115	$	228	$	7,607	$	100
Resource Industries	3,353		128		3,481		164		459		10,389		100
Energy & Transportation	4,405		396		4,801		151		591		8,492		104
Machinery, Energy & Transportation	$	11,977	$	623	$	12,600	$	430	$	1,278	$	26,488	$	304
Financial Products Segment	795		—		795		180		273		36,980		320
Total	$	12,772	$	623	$	13,395	$	610	$	1,551	$	63,468	$	624

Reconciliation of Sales and revenues:



Reconciliation of Sales and revenues:
(Millions of dollars)	Machinery, Energy & Transportation			Financial Products		Consolidating Adjustments				Consolidated Total
Three Months Ended March 31, 2014
Total external sales and revenues from reportable segments	$	11,963		$	817	$	—			$	12,780
All Other operating segments	554			—		—				554
Other	(24		)	14		(83		)	¹	(93		)
Total sales and revenues	$	12,493		$	831	$	(83	)		$	13,241

Three Months Ended March 31, 2013
Total external sales and revenues from reportable segments	$	11,977		$	795	$	—			$	12,772
All Other operating segments	517			—		—				517
Other	(10		)	19		(88		)	¹	(79		)
Total sales and revenues	$	12,484		$	814	$	(88	)		$	13,210
¹ Elimination of Financial Products revenues from Machinery, Energy & Transportation.

Reconciliation of Consolidated profit before taxes:



Reconciliation of Consolidated profit before taxes:
(Millions of dollars)	Machinery, Energy & Transportation			Financial Products		Consolidated Total
Three Months Ended March 31, 2014
Total profit from reportable segments	$	1,664		$	240	$	1,904
All Other operating segments	235			—		235
Cost centers	52			—		52
Corporate costs	(366		)	—		(366		)
Timing	(41		)	—		(41		)
Restructuring costs	(149		)	—		(149		)
Methodology differences:
Inventory/cost of sales	14			—		14
Postretirement benefit expense	(102		)	—		(102		)
Financing costs	(114		)	—		(114		)
Equity in (profit) loss of unconsolidated affiliated companies	(1		)	—		(1		)
Currency	(26		)	—		(26		)
Other income/expense methodology differences	(60		)	—		(60		)
Other methodology differences	(4		)	—		(4		)
Total consolidated profit before taxes	$	1,102		$	240	$	1,342

Three Months Ended March 31, 2013
Total profit from reportable segments	$	1,278		$	273	$	1,551
All Other operating segments	205			—		205
Cost centers	40			—		40
Corporate costs	(350		)	—		(350		)
Timing	54			—		54
Restructuring costs	(7		)	—		(7		)
Methodology differences:
Inventory/cost of sales	(36		)	—		(36		)
Postretirement benefit expense	(165		)	—		(165		)
Financing costs	(124		)	—		(124		)
Equity in (profit) loss of unconsolidated affiliated companies	(1		)	—		(1		)
Currency	15			—		15
Other income/expense methodology differences	(52		)	—		(52		)
Other methodology differences	(20		)	17		(3		)
Total consolidated profit before taxes	$	837		$	290	$	1,127

Reconciliation of Restructuring costs:

Had we included the amounts in the segments' results, the profit would have been as shown below:



Reconciliation of Restructuring costs:
(Millions of dollars)	Segment profit		Restructuring costs			Segment profit with restructuring costs
Three Months Ended March 31, 2014
Construction Industries	$	688	$	(131	)	$	557
Resource Industries	149		(11		)	138
Energy & Transportation	827		(3		)	824
Financial Products Segment	240		—			240
All Other operating segments	235		(4		)	231
Total	$	2,139	$	(149	)	$	1,990

Three Months Ended March 31, 2013
Construction Industries	$	228	$	(2	)	$	226
Resource Industries	459		(2		)	457
Energy & Transportation	591		(2		)	589
Financial Products Segment	273		—			273
All Other operating segments	205		(1		)	204
Total	$	1,756	$	(7	)	$	1,749

Reconciliation of Assets:



Reconciliation of Assets:
(Millions of dollars)	Machinery, Energy & Transportation			Financial Products			Consolidating Adjustments			Consolidated Total
March 31, 2014
Total assets from reportable segments	$	25,548		$	37,415		$	—		$	62,963
All Other operating segments	2,717			—			—			2,717
Items not included in segment assets:
Cash and short-term investments	4,057			—			—			4,057
Intercompany receivables	1,223			—			(1,223		)	—
Investment in Financial Products	4,919			—			(4,919		)	—
Deferred income taxes	2,434			—			(488		)	1,946
Goodwill and intangible assets	3,881			—			—			3,881
Property, plant and equipment – net and other assets	1,298			—			—			1,298
Operating lease methodology difference	(191		)	—			—			(191		)
Liabilities included in segment assets	10,523			—			—			10,523
Inventory methodology differences	(2,544		)	—			—			(2,544		)
Other	(95		)	(74		)	(84		)	(253		)
Total assets	$	53,770		$	37,341		$	(6,714	)	$	84,397

December 31, 2013
Total assets from reportable segments	$	26,488		$	36,980		$	—		$	63,468
All Other operating segments	2,973			—			—			2,973
Items not included in segment assets:
Cash and short-term investments	4,597			—			—			4,597
Intercompany receivables	1,219			—			(1,219		)	—
Investment in Financial Products	4,798			—			(4,798		)	—
Deferred income taxes	2,541			—			(525		)	2,016
Goodwill and intangible assets	3,582			—			—			3,582
Property, plant and equipment – net and other assets	1,175			—			—			1,175
Operating lease methodology difference	(273		)	—			—			(273		)
Liabilities included in segment assets	10,357			—			—			10,357
Inventory methodology differences	(2,539		)	—			—			(2,539		)
Other	(214		)	(135		)	(111		)	(460		)
Total assets	$	54,704		$	36,845		$	(6,653	)	$	84,896

Reconciliation of Depreciation and amortization:



Reconciliations of Depreciation and amortization:
(Millions of dollars)	Machinery, Energy & Transportation			Financial Products		Consolidated Total
Three Months Ended March 31, 2014
Total depreciation and amortization from reportable segments	$	463		$	219	$	682
Items not included in segment depreciation and amortization:
All Other operating segments	66			—		66
Cost centers	37			—		37
Other	(10		)	6		(4		)
Total depreciation and amortization	$	556		$	225	$	781

Three Months Ended March 31, 2013
Total depreciation and amortization from reportable segments	$	430		$	180	$	610
Items not included in segment depreciation and amortization:
All Other operating segments	79			—		79
Cost centers	36			—		36
Other	(7		)	5		(2		)
Total depreciation and amortization	$	538		$	185	$	723

Reconciliation of Capital expenditures:



Reconciliations of Capital expenditures:
(Millions of dollars)	Machinery, Energy & Transportation			Financial Products		Consolidating Adjustments			Consolidated Total
Three Months Ended March 31, 2014
Total capital expenditures from reportable segments	$	164		$	269	$	—		$	433
Items not included in segment capital expenditures:
All Other operating segments	38			—		—			38
Cost centers	21			—		—			21
Timing	267			—		—			267
Other	(21		)	24		(23		)	(20		)
Total capital expenditures	$	469		$	293	$	(23	)	$	739

Three Months Ended March 31, 2013
Total capital expenditures from reportable segments	$	304		$	320	$	—		$	624
Items not included in segment capital expenditures:
All Other operating segments	64			—		—			64
Cost centers	35			—		—			35
Timing	534			—		—			534
Other	(24		)	16		(17		)	(25		)
Total capital expenditures	$	913		$	336	$	(17	)	$	1,232

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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