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CATERPILLAR INC Annual Report (Amendment), Year Ended Dec 31, 1999

Filing Date
Filed May 31, 2000
Period End
December 31, 1999
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 31, 2000. Cited figures are marked; the original filing is the authoritative source.

This is an amended annual report (Form 10-K/A) for Caterpillar Inc. for fiscal year 1999.

Its stated purpose is to replace in its entirety the Exhibit 21 list of subsidiaries and affiliates. The filing contains no consolidated income statement, balance sheet, cash flow statement, segment results, or management discussion, so it cannot be used to assess Caterpillar's 1999 revenue, profitability, or financial condition. The only financial data is for the company's employee benefit plans, which are filed under Form 11-K.

The filing reports 353,777,881 common shares outstanding at December 31, 1999, and an aggregate market value of voting stock held by non-affiliates of about $16.4 billiona. The most substantive content is the 11-K financial statements for three plans. The Employees' Investment Plan had net assets available for benefits of $2.26 billion at November 30, 1999, up from $2.14 billion a year earlier.

Its Part 1 Caterpillar Common Stock Fund held about 17.1 million shares valued at roughly $795 millionb, and that fund's net assets fell by about $98 million during the year, reflecting a $46.6 million net depreciation in CAT stock, withdrawals, and transfers. The Solar Turbines Savings and Investment Plan held $32.5 million, and the Tax Deferred Savings Plan held $268.4 million, both at December 31, 1999. The auditor, PricewaterhouseCoopers, issued unqualified opinions dated May 26, 2000.

The filing also discloses one compliance matter. A clerical error caused employee contributions of about $2,660.71c for a March 1999 payroll period to reach the Employees' Investment Plan trust only in December 1999. The company stated it would contribute the lost earnings to participant accounts once calculated.

The amount is immaterial to the company as a whole. Investors seeking Caterpillar's operating performance should consult the original 10-K for fiscal 1999.

02—Key points

Key Highlights

  1. Purpose of amendment: replaces the entire Exhibit 21 list of Caterpillar subsidiaries and affiliates; no changes to core financial statements are included.
  2. No consolidated financial statements are contained in this filing, so revenue, earnings, and balance sheet data are not available here.
  3. Caterpillar had 353,777,881 common shares outstanding at December 31, 1999, with non-affiliate voting stock valued at approximately $16.4 billion.
  4. Employees' Investment Plan net assets reached $2.26 billion at November 30, 1999, up from $2.14 billion, with the Part 1 CAT Common Stock Fund holding about $795 million in stock.
  5. The Part 1 CAT stock fund recorded a $46.6 million net depreciation in fair value during the plan year, as CAT share price weakened, and a net decrease of about $98 million in fund net assets.
  6. Tax Deferred Savings Plan ($268.4 million) and Solar Turbines Savings and Investment Plan ($32.5 million) assets were reported, with both invested largely through the Caterpillar 401(k) Master Trust, which totaled about $1.79 billion.
  7. A clerical error delayed roughly $2,661 in employee contributions to the trust from March to December 1999; the company plans to restore the amount plus lost earnings to participant accounts.

03—Questions

Frequently Asked Questions

  1. Does this amended filing contain Caterpillar's 1999 financial results?

    No. The 10-K/A replaces only the Exhibit 21 subsidiary list and attaches Form 11-K financial statements for employee savings and investment plans. Caterpillar's consolidated revenue, net income, and balance sheet must be found in the original 1999 Form 10-K.

  2. How large are Caterpillar's employee benefit plans, and how did they perform?

    The Employees' Investment Plan had $2.26 billion in net assets at November 30, 1999, up about 5.4% from $2.14 billion, and recorded $115 million in net increase after withdrawals and transfers. Its Caterpillar common stock holdings were about $795 million, down from $892 million, reflecting share price declines and fund outflows.

  3. Did Caterpillar's employee plans have any compliance problems?

    Yes, one. Employee contributions of about $2,660.71 for a March 1999 payroll period, related to certain U.S. expatriate employees, were not remitted to the plan trustee until December 9, 1999. The company said it is calculating lost earnings and will contribute that amount to participant accounts. The amount is small relative to the plan's size.

  4. How many shares does Caterpillar have outstanding, and what is the market value held by non-affiliates?

    As of December 31, 1999, Caterpillar had 353,777,881 common shares outstanding. The aggregate market value of voting stock held by non-affiliates, with directors and officers assumed to be affiliates for calculation purposes, was $16,432,866,117.

04—Continue

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