Segment Information (Tables)

3 Months Ended

Mar. 31, 2022

For the three months ended March 31, 2022 and 2021, 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
Three Months Ended March 31, 2022
Construction Industries	$	2,720	$	627	$	1,277	$	1,462	$	6,086		$	29	$	6,115
Resource Industries	1,018		399		594		748		2,759			71		2,830
Energy & Transportation	1,938		310		1,184		600		4,032			1,006		5,038
Financial Products Segment	503		73		96		111		783		1	—		783
Total sales and revenues from reportable segments	6,179		1,409		3,151		2,921		13,660			1,106		14,766
All Other operating segment	18		—		5		16		39			79		118
Corporate Items and Eliminations	(60)		(16)		(11)		(23)		(110)			(1,185)		(1,295)
Total Sales and Revenues	$	6,137	$	1,393	$	3,145	$	2,914	$	13,589		$	—	$	13,589

Three Months Ended March 31, 2021
Construction Industries	$	2,126	$	392	$	1,081	$	1,842	$	5,441		$	18	$	5,459
Resource Industries	657		405		474		561		2,097			81		2,178
Energy & Transportation	1,782		256		1,093		527		3,658			849		4,507
Financial Products Segment	476		62		100		123		761		1	—		761
Total sales and revenues from reportable segments	5,041		1,115		2,748		3,053		11,957			948		12,905
All Other operating segment	13		—		3		22		38			92		130
Corporate Items and Eliminations	(63)		(11)		(8)		(26)		(108)			(1,040)		(1,148)
Total Sales and Revenues	$	4,991	$	1,104	$	2,743	$	3,049	$	11,887		$	—	$	11,887

1 Includes revenues from Construction Industries, Resource Industries, Energy & Transportation and All Other operating segment of $100 million and $84 million in the three months ended March 31, 2022 and 2021, respectively.

For the three months ended March 31, 2022 and 2021, Energy & Transportation segment sales by end user application were as follows:


Energy & Transportation External Sales
	Three Months Ended March 31
(Millions of dollars)		2022		2021
Oil and gas		$	948	$	915
Power generation		1,012		963
Industrial		1,020		813
Transportation		1,052		967
Energy & Transportation External Sales		$	4,032	$	3,658

Reconciliation of Consolidated profit before taxes


Reconciliation of Consolidated profit before taxes:

(Millions of dollars)	Three Months Ended March 31
		2022		2021
Profit from reportable segments:
Construction Industries		$	1,057	$	1,042
Resource Industries		361		312
Energy & Transportation		538		675
Financial Products Segment		238		244
Total profit from reportable segments		2,194		2,273
Profit from All Other operating segment		3		3
Cost centers		10		21
Corporate costs		(198)		(185)
Timing		(98)		(66)
Restructuring costs		(13)		(64)
Methodology differences:
Inventory/cost of sales		168		—
Postretirement benefit expense		81		68
Stock-based compensation expense		(40)		(42)
Financing costs		(100)		(130)
Currency		106		186
Other income/expense methodology differences		(81)		(49)
Other methodology differences		(33)		(18)
Total consolidated profit before taxes		$	1,999	$	1,997

Reconciliation of Assets:


Reconciliation of Assets:

(Millions of dollars)	March 31, 2022		December 31, 2021
Assets from reportable segments:
Construction Industries	$	5,019	$	4,547
Resource Industries	5,717		5,962
Energy & Transportation	9,480		9,253
Financial Products Segment	35,108		34,860
Total assets from reportable segments	55,324		54,622
Assets from All Other operating segment	2,568		1,678
Items not included in segment assets:
Cash and cash equivalents	5,662		8,428
Deferred income taxes	1,862		1,735
Goodwill and intangible assets	4,842		4,859
Property, plant and equipment – net and other assets	3,149		4,056
Inventory methodology differences	(2,901)		(2,656)
Liabilities included in segment assets	11,378		10,777
Other	392		(706)
Total assets	$	82,276	$	82,793

Reconciliation of Depreciation and amortization:


Reconciliation of Depreciation and amortization:
(Millions of dollars)
	Three Months Ended March 31
		2022		2021
Depreciation and amortization from reportable segments:
Construction Industries		$	58	$	59
Resource Industries		92		99
Energy & Transportation		134		142
Financial Products Segment		188		196
Total depreciation and amortization from reportable segments		472		496
Items not included in segment depreciation and amortization:
All Other operating segment		58		62
Cost centers		21		26
Other		6		2
Total depreciation and amortization		$	557	$	586

Reconciliation of Capital expenditures:


Reconciliation of Capital expenditures:
(Millions of dollars)
	Three Months Ended March 31
		2022		2021
Capital expenditures from reportable segments:
Construction Industries		$	32	$	28
Resource Industries		22		23
Energy & Transportation		177		81
Financial Products Segment		241		228
Total capital expenditures from reportable segments		472		360
Items not included in segment capital expenditures:
All Other operating segment		16		15
Cost centers		9		19
Timing		192		124
Other		(10)		(14)
Total capital expenditures		$	679	$	504