Segment and Geographic Information (Tables)

12 Months Ended

Dec. 31, 2025

Supplemental segment data and reconciliations to consolidated external reporting for the years ended December 31, was as follows:


(Millions of dollars) 2025	External revenues		Interest expense		Depreciation on equipment leased to others		General, operating and administrative expenses		Provision for credit losses		Other segment items(1)		Profit before income taxes
North America	$	2,100	$	716	$	508	$	194	$	101	$	15	$	566
EAME	393		133		50		93		9		3		105
Asia/Pacific	260		99		6		78		5		1		71
Latin America	379		191		10		62		—		7		109
Mining	376		110		125		40		(8)		—		109
Power	74		40		—		13		(1)		—		22
Total Segments	3,582		1,289		699		480		106		26		982
Unallocated	69		548		—		197		—		2		(678)
Timing	(17)		—		—		(22)		—		(1)		6
Methodology	—		(449)		—		11		—		14		424

Total	$	3,634	$	1,388	$	699	$	666	$	106	$	41	$	734

2024	External revenues		Interest expense		Depreciation on equipment leased to others		General, operating and administrative expenses		Provision for credit losses		Other segment items(1)		Profit before income taxes
North America	$	1,988	$	634	$	512	$	185	$	70	$	17	$	570
EAME	380		143		54		89		(12)		4		102
Asia/Pacific	271		100		4		77		—		3		87
Latin America	338		152		13		53		6		4		110
Mining	377		105		137		39		19		1		76
Power	65		33		2		11		(8)		—		27
Total Segments	3,419		1,167		722		454		75		29		972
Unallocated	85		492		—		195		—		(28)		(574)
Timing	(15)		—		—		(16)		—		—		1
Methodology	—		(372)		—		11		—		17		344
Divestiture	—		—		—		—		—		210		(210)
Total	$	3,489	$	1,287	$	722	$	644	$	75	$	228	$	533

2023	External revenues		Interest expense		Depreciation on equipment leased to others		General, operating and administrative expenses		Provision for credit losses		Other segment items(1)		Profit before income taxes
North America	$	1,786	$	463	$	512	$	170	$	32	$	13	$	596
EAME	368		103		57		93		3		11		101
Asia/Pacific	278		102		4		69		(2)		—		105
Latin America	348		174		12		52		1		6		103
Mining	341		80		126		37		(2)		1		99
Power	58		26		2		11		16		4		(1)
Total Segments	3,179		948		713		432		48		35		1,003
Unallocated	83		394		—		162		1		33		(507)
Timing	(14)		—		—		(16)		—		—		2
Methodology	—		(309)		—		10		—		37		262
Total	$	3,248	$	1,033	$	713	$	588	$	49	$	105	$	760

(1) Other segment items are primarily costs related to repossessed and returned equipment.


(Millions of dollars)	Assets as of December 31,				Capital Expenditures(1)
	2025		2024		2025		2024		2023
North America	$	19,738	$	17,800	$	936	$	787	$	961
EAME	5,638		4,668		65		74		73
Asia/Pacific	3,564		3,276		25		14		4
Latin America	2,921		2,423		11		21		21
Mining	3,325		3,306		217		156		229
Power	1,017		812		—		—		—
Total Segments	$	36,203	$	32,285	$	1,254	$	1,052	$	1,288
Unallocated	2,128		1,921		87		33		9
Timing	32		(12)		—		—		—
Methodology	148		128		—		—		—
Inter-segment Eliminations(2)	(198)		(238)		—		—		—
Total	$	38,313	$	34,084	$	1,341	$	1,085	$	1,297

(1) Capital expenditures include expenditures for equipment on operating leases and other miscellaneous capital expenditures.

(2) Eliminations are primarily related to intercompany loans.

Geographic information

Geographic information:


(Millions of dollars)	2025		2024		2023
Revenues
Inside U.S.	$	2,210	$	2,096	$	1,879


All other	1,424		1,393		1,369
Total	$	3,634	$	3,489	$	3,248

Equipment on operating leases, net and property and equipment, net (included in Other assets)	2025		2024
Inside U.S.	$	2,035	$	1,925
Inside Canada	523		478

All other	609		529
Total	$	3,167	$	2,932