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Finance Receivables (Tables)
 12 Months Ended
Dec. 31, 2025
Receivables [Abstract]  
Summary of finance receivables included in the Consolidated Statements of Financial Position
A summary of finance receivables included in the Consolidated Statements of Financial Position as of December 31, was as follows:
(Millions of dollars)20252024
Retail loans(1)
$19,218 $17,331 
Retail finance leases6,870 6,380 
Caterpillar purchased receivables5,500 4,283 
Wholesale loans(1)
1,511 1,235 
Wholesale leases— 2 
Total finance receivables33,099 29,231 
Less: Allowance for credit losses(284)(267)
Total finance receivables, net$32,815 $28,964 
(1) Includes failed sale leasebacks.
Maturities of finance receivables
Maturities of our finance receivables, as of December 31, 2025, reflect contractual repayments due from borrowers and were as follows:
(Millions of dollars)Retail
loans		Retail finance
leases		Caterpillar
purchased
receivables		Wholesale
loans		Total
Amounts due in
2026$8,600 $2,661 $5,538 $900 $17,699 
20275,138 1,839 — 351 7,328 
20283,414 1,134 — 166 4,714 
20291,833 622 — 36 2,491 
2030712 248 — 14 974 
Thereafter152 74 — 14 240 
Total19,849 6,578 5,538 1,481 33,446 
Guaranteed residual value(1)
7 454 — 39 500 
Unguaranteed residual value(1)
8 565 — 9 582 
Unearned income(646)(727)(38)(18)(1,429)
Total$19,218 $6,870 $5,500 $1,511 $33,099 
(1) For Retail loans and Wholesale loans, represents residual value on failed sale leasebacks.
Allowance for credit losses and total finance receivables
An analysis of the allowance for credit losses as of December 31, was as follows:
(Millions of dollars)20252024
Allowance for Credit Losses:CustomerDealerCaterpillar Purchased ReceivablesTotalCustomerDealerCaterpillar Purchased ReceivablesTotal
Beginning Balance$258 $4 $5 $267 $276 $51 $4 $331 
Write-offs(148)— — (148)(125)(47)— (172)
Recoveries47 — — 47 57 — — 57 
Provision for credit losses(1)
109 — 2 111 84 — 1 85 
Other7 — — 7 (34)— — (34)
Ending Balance$273 $4 $7 $284 $258 $4 $5 $267 
Finance Receivables$24,572 $3,027 $5,500 $33,099 $22,199 $2,749 $4,283 $29,231 
(1) Excludes provision for credit losses on unfunded commitments and other miscellaneous receivables.
Summary of write-offs by origination year
Gross write-offs by origination year for our Customer portfolio segment were as follows:
(Millions of dollars)Year Ended December 31, 2025
20252024202320222021PriorRevolving Finance ReceivablesTotal
North America$3 $15 $27 $12 $8 $4 $8 $77 
EAME1 5 7 3 2 1 1 20 
Asia/Pacific2 6 3 2 1 — — 14 
Latin America1 3 3 5 2 1 — 15 
Mining— 8 6 6 — 1 — 21 
Power— — — — — 1 — 1 
Total$7 $37 $46 $28 $13 $8 $9 $148 
Year Ended December 31, 2024
20242023202220212020PriorRevolving Finance ReceivablesTotal
North America$2 $19 $13 $6 $3 $1 $9 $53 
EAME1 4 5 4 2 1 — 17 
Asia/Pacific1 4 5 4 1 1 — 16 
Latin America— 3 6 5 3 8 — 25 
Mining8 3 3 — — — — 14 
Total$12 $33 $32 $19 $9 $11 $9 $125 
Amortized cost of finance receivables in the Customer portfolio segment by origination year
The aging analysis of our Customer portfolio segment by origination year was as follows:
(Millions of dollars)December 31, 2025
20252024202320222021PriorRevolving Finance ReceivablesTotal Finance Receivables
North America
Current$5,531 $3,634 $1,845 $743 $318 $20 $510 $12,601 
31-60 days past due30 42 28 18 6 1 4 129 
61-90 days past due11 14 10 5 3 — 2 45 
91+ days past due11 34 29 20 8 3 1 106 
EAME
Current1,560 938 614 316 114 44 — 3,586 
31-60 days past due5 12 6 6 2 — — 31 
61-90 days past due3 5 3 2 1 — — 14 
91+ days past due5 9 12 6 3 2 — 37 
Asia/Pacific
Current1,175 691 380 137 42 3 50 2,478 
31-60 days past due5 8 3 1 — — — 17 
61-90 days past due2 3 1 2 — — — 8 
91+ days past due1 1 2 2 — — — 6 
Latin America
Current984 511 212 96 15 1 4 1,823 
31-60 days past due3 6 5 3 — — — 17 
61-90 days past due2 2 2 1 — 1 — 8 
91+ days past due1 10 7 4 1 — — 23 
Mining
Current946 806 495 280 107 51 — 2,685 
31-60 days past due3 — — — — — — 3 
61-90 days past due— — — — — — — — 
91+ days past due1 1 8 — — — — 10 
Power
Current272 264 179 37 8 37 148 945 
31-60 days past due— — — — — — — — 
61-90 days past due— — — — — — — — 
91+ days past due— — — — — — — — 
Totals by Aging Category
Current10,468 6,844 3,725 1,609 604 156 712 24,118 
31-60 days past due46 68 42 28 8 1 4 197 
61-90 days past due18 24 16 10 4 1 2 75 
91+ days past due19 55 58 32 12 5 1 182 
Total$10,551 $6,991 $3,841 $1,679 $628 $163 $719 $24,572 
(Millions of dollars)December 31, 2024
20242023202220212020PriorRevolving Finance ReceivablesTotal Finance Receivables
North America
Current$5,340 $3,035 $1,567 $980 $244 $23 $385 $11,574 
31-60 days past due30 42 29 18 5 1 3 128 
61-90 days past due9 14 10 6 2 1 1 43 
91+ days past due13 37 26 16 6 2 1 101 
EAME
Current1,244 874 532 285 92 72 — 3,099 
31-60 days past due7 10 4 3 1 — — 25 
61-90 days past due3 4 1 1 1 — — 10 
91+ days past due3 14 8 6 4 1 — 36 
Asia/Pacific
Current1,064 662 313 126 31 4 46 2,246 
31-60 days past due4 6 5 2 — — — 17 
61-90 days past due1 1 2 1 — — — 5 
91+ days past due4 1 2 1 1 — — 9 
Latin America
Current800 363 220 60 8 2 — 1,453 
31-60 days past due4 6 5 1 — 2 — 18 
61-90 days past due1 2 1 — — — — 4 
91+ days past due2 6 8 4 1 1 — 22 
Mining
Current1,067 775 450 214 69 41 21 2,637 
31-60 days past due— 1 — — — — — 1 
61-90 days past due— 1 — — — — — 1 
91+ days past due4 5 5 1 — 3 — 18 
Power
Current190 184 40 43 64 63 166 750 
31-60 days past due— — — — — — — — 
61-90 days past due— — — — — — — — 
91+ days past due— — — — — 2 — 2 
Totals by Aging Category
Current9,705 5,893 3,122 1,708 508 205 618 21,759 
31-60 days past due45 65 43 24 6 3 3 189 
61-90 days past due14 22 14 8 3 1 1 63 
91+ days past due26 63 49 28 12 9 1 188 
Total$9,790 $6,043 $3,228 $1,768 $529 $218 $623 $22,199 
Aging related to finance receivables
The aging analysis of our Caterpillar Purchased Receivables portfolio segment as of December 31, was as follows:
(Millions of dollars)2025
 Current31-60
Days
Past Due		61-90
Days
Past Due		91+
Days
Past Due		Total Finance Receivables
North America$3,242 $9 $7 $5 $3,263 
EAME1,189 1 — — 1,190 
Asia/Pacific646 1 — — 647 
Latin America387 — — — 387 
Power11 2 — — 13 
Total$5,475 $13 $7 $5 $5,500 
2024
Current31-60
Days
Past Due		61-90
Days
Past Due		91+
Days
Past Due		Total Finance Receivables
North America$2,584 $14 $5 $4 $2,607 
EAME740 3 1 — 744 
Asia/Pacific528 — — 1 529 
Latin America383 — — — 383 
Power16 2 1 1 20 
Total$4,251 $19 $7 $6 $4,283 
Finance receivables on non-accrual status
In our Customer portfolio segment, finance receivables which were on non-accrual status and finance receivables over 90 days past due and still accruing income as of December 31, were as follows:
(Millions of dollars)20252024
Amortized CostAmortized Cost
Non-accrual91+ Still AccruingNon-accrual91+ Still Accruing
North America$90 $20 $83 $20 
EAME35 5 33 5 
Asia/Pacific4 2 5 5 
Latin America24 1 24 — 
Mining10 — 29 — 
Power— — 2 — 
Total$163 $28 $176 $30 
Finance receivables modified as TDRs
The ending amortized cost of finance receivables modified with borrowers experiencing financial difficulty in the Customer portfolio segment for the years ended December 31, 2025 and 2024 was as follows:
(Millions of dollars)20252024
Amortized cost of finance receivables modified$38 $33 
Modifications as a percentage of Customer portfolio0.16 %0.15 %

The financial effects of term extensions and payment delays for borrowers experiencing financial difficulty for the years ended December 31, were as follows:
(In months)20252024
Weighted average extension to term of modified contracts198
Weighted average payment deferral and/or interest only periods66