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CATERPILLAR INC Annual Report (Amendment), Year Ended Dec 31, 1995

Filing Date
Filed May 28, 1996
Period End
December 31, 1995
Security
CAT
In the record · 2016–202610-K1110-Q328-K184

CAT filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 184 current reports (8-K) between 2016 and 2026.

  1. FY2016 annual report10-K · Feb ’17Feb ’17
  2. Material agreement8-K · Sep ’19Sep ’19
  3. Leadership change8-K · Feb ’22Feb ’22
  4. Leadership change8-K · Jan ’26Jan ’26

01—Abstract

Summary

Summary of the 10-K/A filed May 28, 1996. Cited figures are marked; the original filing is the authoritative source.

This filing is not a Caterpillar Inc. 10-K.

It is a set of Form 11-K annual reports for Caterpillar-sponsored employee savings and retirement plans, covering the Solar Turbines Incorporated Savings and Investment Plan (fiscal year ended December 31, 1995), the Caterpillar Inc. Employees' Investment Plan (fiscal year ended November 30, 1995), and the Caterpillar Inc. Tax Deferred Savings Plan (fiscal year ended December 31, 1995). The Caterpillar Foreign Service Employees' Stock Purchase Plan was exempt from financial statement filing. The filing contains no company-level revenue, earnings, or balance sheet data.

Its investor relevance is limited to Caterpillar's stock and the plans' holdings of its shares, and to the scale and performance of its employee retirement assets. The largest plan, the Employees' Investment Plan, grew its net assets from $1,064.1 million to $1,262.9 milliona in the year ended November 30, 1995, an increase of $198.9 million. Its Caterpillar Common Stock Fund held 9,942,402 shares valued at $610.2 million at year-end, roughly $61 per share, and represented about half of the plan's assets.

The Tax Deferred Savings Plan rose from $105.2 million to $126.4 millionb, and the Solar Turbines plan rose from $11.0 million to $14.2 million. Across the plans, the Caterpillar Common Stock Fund unit value rose from $19.87 in December 1994 to $21.20 in December 1995, about a 7% gain, and the Preferred Growth and Value mutual funds posted strong gains during the year. The audits were performed by Price Waterhouse LLP, which issued unqualified opinions dated May 3, 1996, stating the statements fairly present plan net assets in conformity with GAAP.

Plan administrative costs and trustee fees are paid by Caterpillar, and the plans pool assets in a common 401(k) Master Trust administered by Northern Trust Company. Notable operational changes include the elimination of the Guaranteed Investment Contract Fund, whose balance was reallocated to other funds during 1995. Investors seeking Caterpillar's corporate financial performance should consult its primary annual report on Form 10-K.

02—Key points

Key Highlights

  1. Filing type correction: these are Form 11-K plan reports for three Caterpillar employee savings plans, not Caterpillar's corporate Form 10-K, and they contain no consolidated company financials.
  2. Employees' Investment Plan (fiscal year ended November 30, 1995) net assets rose 18.7% to $1,262.9 million, up $198.9 million from $1,064.1 million.
  3. The Employees' Investment Plan held 9,942,402 Caterpillar common shares valued at $610.2 million (about $61 per share), roughly 48% of the plan's total net assets.
  4. The Caterpillar Common Stock Fund unit value increased from $19.87 (December 1994) to $21.20 (December 1995), about a 7% gain.
  5. Tax Deferred Savings Plan net assets grew about 20% to $126.4 million, and the Solar Turbines plan grew about 29% to $14.2 million.
  6. The Guaranteed Investment Contract Fund was fully liquidated during 1995 and its balances were reallocated, a notable change in plan investment options.
  7. Price Waterhouse LLP issued unqualified audit opinions dated May 3, 1996 for all plan financial statements.

03—Questions

Frequently Asked Questions

  1. Is this filing Caterpillar's annual 10-K with company financial results?

    No. The document contains Form 11-K annual reports for Caterpillar's employee savings and retirement plans. It does not include Caterpillar's revenue, net income, balance sheet, or business discussion, which are contained in its Form 10-K.

  2. How much Caterpillar stock do the employee plans hold?

    The Employees' Investment Plan held 9,942,402 shares of Caterpillar common stock at November 30, 1995, with a market value of $610.2 million. The plan's Part I purchases are made through employee payroll deductions and employer matching contributions, with employer contributions equal to 50%, 66 2/3%, or 80% of employee contributions up to 6% of earnings, depending on years of service.

  3. How did the plans perform in 1995?

    Net assets grew across all three plans in 1995, supported by investment gains and employee contributions. In the Employees' Investment Plan, net investment income was $188.5 million, including $75.1 million in net appreciation of Caterpillar common stock. The Caterpillar Common Stock Fund unit value rose from $19.87 to $21.20 over the year.

  4. Are the plan assets at risk, and how are they protected?

    Assets are held in a common 401(k) Master Trust with Northern Trust Company as trustee. The auditors stated the statements fairly present plan net assets in conformity with GAAP. Participants are fully vested in their own contributions, and the plans state that they are designed and operated in compliance with the Internal Revenue Code. The filing does not discuss specific market or counterparty risks.

  5. What is the key takeaway for a Caterpillar investor?

    These filings offer limited direct investment insight. They show that employees hold a substantial stake in Caterpillar stock, that the stock appreciated about 7% in the plan unit values during 1995, and that the retirement plans grew meaningfully. For Caterpillar's operating results, valuation, and outlook, investors should review the company's annual Form 10-K.

04—Continue

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