Transactions with Related Parties (Tables)

12 Months Ended

Dec. 31, 2023

We have variable amount and term lending agreements and other notes receivable with Caterpillar. Under these agreements, we may borrow up to $2.44 billion from Caterpillar, and Caterpillar may borrow up to $2.14 billion from us. The variable amount lending agreements are in effect for indefinite periods of time and may be changed or terminated by either party with 30 days notice. The term lending agreements have remaining maturities ranging up to ten years. Information concerning these agreements was as follows:


(Millions of dollars)	2023		2022		2021
Payable to Caterpillar - borrowings as of December 31,	$	24	$	23	$	22
Payable to Caterpillar - other as of December 31,	113		101		73
Notes receivable from Caterpillar as of December 31,	527		482		389
Other receivables from Caterpillar as of December 31,(2)	39		133		70
Interest expense	1		1		—
Interest income on Notes Receivable with Caterpillar(1)	21		17		14

(1) Included in Other revenues, net in the Consolidated Statements of Profit.

(2) Included in Other assets in the Consolidated Statements of Financial Position.

We have agreements with Caterpillar to purchase certain trade receivables at a discount. In addition, we receive fee revenue from Caterpillar for our centralized activities benefiting the global factoring program. Cash flows related to our factoring programs with Caterpillar are included in Net changes in Caterpillar purchased receivables within investing activities in the Consolidated Statements of Cash Flows. Information pertaining to these purchases was as follows:


(Millions of dollars)	2023		2022		2021
Purchases made	$	53,382	$	47,158	$	40,140
Revenue earned	617		417		301
Purchased Receivables as of December 31,	3,949		4,297		4,462