Segment Information (Tables)

3 Months Ended

Mar. 31, 2015




Reportable Segments
Three Months Ended March 31,
(Millions of dollars)
	2015
	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	$	4,695	$	51	$	4,746	$	119	$	740	$	6,252	$	36
Resource Industries	1,928		93		2,021		161		85		9,301		30
Energy & Transportation	4,762		514		5,276		156		986		8,385		149
Machinery, Energy & Transportation	$	11,385	$	658	$	12,043	$	436	$	1,811	$	23,938	$	215
Financial Products Segment	795		—		795		215		227		36,172		294
Total	$	12,180	$	658	$	12,838	$	651	$	2,038	$	60,110	$	509

	2014
	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	$	5,064	$	75	$	5,139	$	134	$	688	$	6,596	$	64
Resource Industries	2,123		102		2,225		171		143		9,497		24
Energy & Transportation	4,776		550		5,326		158		833		8,470		76
Machinery, Energy & Transportation	$	11,963	$	727	$	12,690	$	463	$	1,664	$	24,563	$	164
Financial Products Segment	817		—		817		219		240		37,011		269
Total	$	12,780	$	727	$	13,507	$	682	$	1,904	$	61,574	$	433

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, 2015
Total external sales and revenues from reportable segments	$	11,385		$	795	$	—			$	12,180
All Other operating segments	586			—		—				586
Other	(10		)	18		(72		)	¹	(64		)
Total sales and revenues	$	11,961		$	813	$	(72	)		$	12,702

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
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, 2015
Total profit from reportable segments	$	1,811		$	227	$	2,038
All Other operating segments	225			—		225
Cost centers	61			—		61
Corporate costs	(499		)	—		(499		)
Timing	18			—		18
Restructuring costs	(36		)	—		(36		)
Methodology differences:
Inventory/cost of sales	(35		)	—		(35		)
Postretirement benefit expense	(104		)	—		(104		)
Financing costs	(136		)	—		(136		)
Equity in (profit) loss of unconsolidated affiliated companies	(2		)	—		(2		)
Currency	(27		)	—		(27		)
Other income/expense methodology differences	59			—		59
Other methodology differences	(9		)	2		(7		)
Total consolidated profit before taxes	$	1,326		$	229	$	1,555

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

Reconciliation of Restructuring costs:

As noted above, restructuring costs are a reconciling item between Segment profit and Consolidated profit before taxes. 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, 2015
Construction Industries	$	740	$	(11	)	$	729
Resource Industries	85		(8		)	77
Energy & Transportation	986		(3		)	983
Financial Products Segment	227		—			227
All Other operating segments	225		(13		)	212
Total	$	2,263	$	(35	)	$	2,228

Three Months Ended March 31, 2014
Construction Industries	$	688	$	(131	)	$	557
Resource Industries	143		(11		)	132
Energy & Transportation	833		(3		)	830
Financial Products Segment	240		—			240
All Other operating segments	235		(4		)	231
Total	$	2,139	$	(149	)	$	1,990

Reconciliation of Assets:



Reconciliation of Assets:
(Millions of dollars)	Machinery, Energy & Transportation			Financial Products			Consolidating Adjustments			Consolidated Total
March 31, 2015
Total assets from reportable segments	$	23,938		$	36,172		$	—		$	60,110
All Other operating segments	2,614			—			—			2,614
Items not included in segment assets:
Cash and short-term investments	6,218			—			—			6,218
Intercompany receivables	1,164			—			(1,164		)	—
Investment in Financial Products	4,146			—			(4,146		)	—
Deferred income taxes	3,385			—			(757		)	2,628
Goodwill and intangible assets	3,520			—			—			3,520
Property, plant and equipment – net and other assets	1,231			—			—			1,231
Operating lease methodology difference	(211		)	—			—			(211		)
Liabilities included in segment assets	9,640			—			—			9,640
Inventory methodology differences	(2,606		)	—			—			(2,606		)
Other	(499		)	(90		)	(65		)	(654		)
Total assets	$	52,540		$	36,082		$	(6,132	)	$	82,490

December 31, 2014
Total assets from reportable segments	$	24,563		$	37,011		$	—		$	61,574
All Other operating segments	2,810			—			—			2,810
Items not included in segment assets:
Cash and short-term investments	6,317			—			—			6,317
Intercompany receivables	1,185			—			(1,185		)	—
Investment in Financial Products	4,488			—			(4,488		)	—
Deferred income taxes	3,627			—			(674		)	2,953
Goodwill and intangible assets	3,492			—			—			3,492
Property, plant and equipment – net and other assets	1,174			—			—			1,174
Operating lease methodology difference	(213		)	—			—			(213		)
Liabilities included in segment assets	9,837			—			—			9,837
Inventory methodology differences	(2,697		)	—			—			(2,697		)
Other	(395		)	(102		)	(69		)	(566		)
Total assets	$	54,188		$	36,909		$	(6,416	)	$	84,681

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, 2015
Total depreciation and amortization from reportable segments	$	436		$	215	$	651
Items not included in segment depreciation and amortization:
All Other operating segments	66			—		66
Cost centers	38			—		38
Other	(10		)	8		(2		)
Total depreciation and amortization	$	530		$	223	$	753

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

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, 2015
Total capital expenditures from reportable segments	$	215		$	294	$	—		$	509
Items not included in segment capital expenditures:
All Other operating segments	46			—		—			46
Cost centers	19			—		—			19
Timing	253			—		—			253
Other	(56		)	63		(8		)	(1		)
Total capital expenditures	$	477		$	357	$	(8	)	$	826

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

- 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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