Cookie Policy
Hide remove
Open add

This site uses cookies to create a better experience for you. Some of these cookies are set automatically because they’re necessary for the site to perform. Other cookies are used for functional, performance, and targeting purposes to enhance your experience by personalizing content and ads, enabling third party content and features, and enabling us to analyze how this site is used.  To learn more, please visit our Legal Notices - Cookie page. 

By clicking 'I Accept', you are agreeing to our use of functional, performance and targeting cookies.

Caterpillar Logo Caterpillar Logo
  • Company
    Company
    • Strategy & Purpose
    • Leadership
    • History
    • Caterpillar Foundation
    • Code of Conduct
    • Sustainability
    • Innovation
    • Global Locations
    • Visitors Center & Museum
    • Working Together
    Caterpillar at a Glance
    Caterpillar at a Glance

    Helping customers build a better world through innovative products and services.

    Strategy
    Strategy

    Our continuing commitment to meet the needs of our customers and the communities in which we live and work.

  • Brands
    Brands
    • Cat
    • Cat Financial
    • Cat Reman
    • Cat Rental Store
    • Cat Lift Trucks
    • Anchor
    • AsiaTrak
    • FG Wilson
    • Hindustan
    • Hypac
    • Kemper
    • MaK
    • MWM
    • M2M
    • Olympian
    • Perkins
    • Progress Rail
    • SEM
    • Solar Turbines
    • SPM Oil & Gas
    • Turner Powertrain Systems
    Caterpillar Merchandise
    Caterpillar Merchandise

    Cat® hats, boots, shoes, bags, models, phones, watches – and so much more. Appreciation for the brand extends far beyond those who use our equipment.

    Cat® Products & Services
    Cat® Products & Services

    Cat® product offerings include articulated trucks, backhoe loaders, dozers, engines, excavators, generators, motor graders, skid steer loaders and wheel loaders.

  • Investors
    Investors
    • Stock Information
    • Financial Information
    • Shareholder Services
    • Events & Presentations
    • Quarterly Financial Results
    • Annual Report & Sustainability Report
    • SEC Filings
    • Governance
    Corporate Press Releases
    Corporate Press Releases

    Read corporate press releases and news announcements distributed by Caterpillar Inc.

    Leadership
    Leadership

    Our leaders are committed to supporting customers and driving profitable growth.

  • News
    News
    • Feature Stories
    • Corporate Press Releases
    • Media Information
    • Social Media
    • Beyond the Iron: The Caterpillar Podcast
    • Caterpillar Publications
    Caterpillar & Technology: Q&A Chairman & CEO Jim Umpleby
    Caterpillar & Technology: Q&A Chairman & CEO Jim Umpleby

    Our quest to make our customers more successful is a never-ending journey. Learn what CEO Jim Umpleby shared recently in a (virtual) chat with Diesel Progress magazine.

    4Q20 Highlights
    4Q20 Highlights

    Key highlights from Caterpillar Inc.’s Fuurth-Quarter and Full-Year 2020 earnings results and top news from the quarter.

  • Careers
    Careers
    • Why Caterpillar?
    • Career Areas
    • Diversity & Inclusion
    • Search for Jobs
    Careers News
    Careers News

    There is challenging work being done around the world. Check out the latest from Team Caterpillar.

languageEnglish
Select a Language
  • English
  • Deutsch
  • Español
  • Français
  • Italiano
  • Magyar
  • Nederlands
  • Polski
  • Português
  • Čeština
  • Русский
  • 中文
  • 日本語
  • searchSearch
  • language English
    • English
    • Deutsch
    • Español
    • Français
    • Italiano
    • Magyar
    • Nederlands
    • Polski
    • Português
    • Čeština
    • Русский
    • 中文
    • 日本語
search ×
 
  • Caterpillar
  • News
  • Corporate Press Releases
  • Cat Financial Announces Third-Quarter 2014 Results

Cat Financial Announces Third-Quarter 2014 Results

October 23, 2014

 

 

Cat Financial Announces Third-Quarter 2014 Results

Cat Financial reported third-quarter 2014 revenues of $743 million, an increase of $44 million, or 6 percent, compared with the third quarter of 2013. Third-quarter 2014 profit after tax was $148 million, a $31 million, or 26 percent, increase from the third quarter of 2013.

The increase in revenues was primarily due to a $37 million favorable impact from higher average earning assets.

Profit before income taxes was $197 million for the third quarter of 2014, compared with $164 million for the third quarter of 2013. The increase was primarily due to a $23 million improvement on net yield on average earning assets and a $16 million favorable impact from higher average earning assets.

The provision for income taxes reflects an estimated annual tax rate of 26 percent in the third quarter of 2014, compared with 27 percent in the third quarter of 2013. The decrease in rate is primarily due to changes in the geographic mix of pre-tax profits.

During the third quarter of 2014, retail new business volume was $3.13 billion, a decrease of $38 million, or 1 percent, from the third quarter of 2013. The decrease was primarily related to lower volume in Mining, partially offset by increases in Cat equipment sales in North America.

At the end of the third quarter of 2014, past dues were 2.81 percent, compared with 2.77 percent at the end of the second quarter of 2014, 2.47 percent at the end of 2013 and 2.51 percent at the end of the third quarter of 2013. The increase reflects higher past dues in the Latin American, Asia/Pacific and European portfolios. Write-offs, net of recoveries, were $16 million for the third quarter of 2014, compared with $58 million for the third quarter of 2013.

As of September 30, 2014, Cat Financial's allowance for credit losses totaled $405 million or 1.37 percent of net finance receivables, compared with $395 million or 1.30 percent of net finance receivables as of June 30, 2014, $387 million or 1.33 percent of net finance receivables at year-end 2013 and $412 million or 1.43 percent of net finance receivables as of September 30, 2013.

“Continued growth and strong yield performance in our earning asset base and the solid performance of our portfolio have resulted in another good quarter for Cat Financial,” said Kent Adams, president of Cat Financial and vice president with responsibility for the Financial Products Division of Caterpillar Inc. “We continue to be well-positioned to serve Caterpillar, Cat dealers and our customers worldwide.”

These results contain immaterial corrections to prior period amounts previously reported and disclosed.

 

For over 30 years, Cat Financial, a wholly owned subsidiary of Caterpillar Inc., has been providing financial service excellence to customers. The company offers a wide range of financing alternatives to customers and Cat® dealers for Cat machinery and engines, Solar® gas turbines and other equipment and marine vessels. Cat Financial has offices and subsidiaries located throughout North and South America, Asia, Australia and Europe, with its headquarters in Nashville, Tennessee.

 

Click here to download the full version of the Cat Financial 3Q 2014 results release, including Statistical Highlights.

 

Caterpillar contact: Rachel Potts, 309-675-6892 or 309-573-3444, Potts_Rachel_A@cat.com

Share This

Company
  • Strategy & Purpose
  • Leadership
  • History
  • Caterpillar Foundation
  • Code of Conduct
  • Sustainability
  • Innovation
  • Global Locations
  • Visitors Center & Museum
Investors
  • Stock Information
  • Financial Information
  • Shareholder Services
  • Events & Presentations
  • Quarterly Financial Results
  • Annual Report & Sustainability Report
  • SEC Filings 
  • Governance
News
  • News & Features
  • Corporate Press Releases
  • Media Information
  • Social Media
 
Careers
  • Why Caterpillar?
  • Career Areas
  • Diversity & Inclusion
  • Search & Apply
  • Candidate Login
Working Together
  • Employees & Retirees
  • Sponsorships
  • Suppliers

 

Cat® Products & Services
  • Products
  • Parts
  • Support
  • Merchandise
  • Locate a Dealer
  • facebook
  • linkedin
  • twitter
  • youtube
  • instagram
Caterpillar Brands
  • Cat
  • Cat Financial
  • Cat Reman
  • The Cat Rental Store
  • Cat Lift Trucks
  • Anchor
  • AsiaTrak
  • FG Wilson
  • Hindustan
  • Hypac
  • Kemper
  • MaK
  • MWM
  • M2M
  • Olympian
  • Perkins
  • Progress Rail
  • SEM
  • Solar Turbines
  • Turner Powertrain Systems

  • About Caterpillar
  • Visit Caterpillar
  • Site Map
  • Cookies
  • Legal
  • Privacy
  • Contact
  • Cat.com
  • English
  • © 2021 Caterpillar. All Rights Reserved.

Cookie Policy

This site uses cookies to create a better experience for you. Some of these cookies are set automatically because they’re necessary for the site to perform. Other cookies are used for functional, performance, and targeting purposes to enhance your experience by personalizing content and ads, enabling third party content and features, and enabling us to analyze how this site is used.  To learn more, please visit our Legal Notices - Cookie page. 

By clicking 'I Accept', you are agreeing to our use of functional, performance and targeting cookies.