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

Filing Date
Filed June 9, 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 June 9, 2000. Cited figures are marked; the original filing is the authoritative source.

This filing is an amendment (Form 10-K/A) to Caterpillar Inc.'s annual report for fiscal year 1999, and it does not contain the company's operating or financial results.

Its sole stated purpose is to add the name and signature of auditor PricewaterhouseCoopers to three Reports and Consents of Independent Accountants that accompany the Forms 11-K for Caterpillar's employee savings plans. The attached material is therefore limited to the plans' own financial statements: the Employees' Investment Plan, the Solar Turbines Incorporated Savings and Investment Plan, and the Caterpillar Inc. Tax Deferred Savings Plan. The headline plan figures show the Employees' Investment Plan with net assets of about $2.26 billiona at November 30, 1999, up from $2.14 billion a year earlier.

Its Part 1 Caterpillar Common Stock Fund held roughly $795 millionb of company stock, down from $892 million, as net appreciation was negative and withdrawals rose. The Tax Deferred Savings Plan had net assets of about $268 million at December 31, 1999, and the Solar Turbines plan about $32 million. These plans hold their assets largely through the Caterpillar 401(k) Master Trust, which grew to about $1.7 billion in net assets.

For investors, the amendment carries little financial significance. The most notable item is a disclosed nonexempt transaction: a clerical error delayed roughly $2,660c of employee contributions from March to December 1999, with lost earnings still to be calculated and contributed. The filing does not provide Caterpillar's consolidated revenue, earnings, debt, or segment data, which would appear in the original 10-K.

02—Key points

Key Highlights

  1. This is a Form 10-K/A whose only purpose is to add PricewaterhouseCoopers' name and signature to auditor consents tied to employee plan Form 11-K filings.
  2. The Employees' Investment Plan held about $2.26 billion in net assets at November 30, 1999, up roughly 5% from $2.14 billion in 1998.
  3. The plan's Caterpillar Common Stock Fund fell to about $795 million from $892 million, reflecting $46.6 million of net depreciation in company stock.
  4. The Tax Deferred Savings Plan held about $268 million and the Solar Turbines Savings and Investment Plan about $32 million at December 31, 1999.
  5. The plans invest largely through the Caterpillar 401(k) Master Trust, which had net assets of about $1.7 billion at year-end 1999.
  6. A disclosed nonexempt transaction involved about $2,660 of employee contributions that were not remitted to the trustee on time, with lost earnings still being calculated.
  7. The filing contains no consolidated Caterpillar revenue, earnings, debt, or segment data; those figures belong to the original 10-K.

03—Questions

Frequently Asked Questions

  1. Why was this 10-K/A filed?

    To add the name and signature of PricewaterhouseCoopers, Caterpillar's auditor, to three Reports and Consents of Independent Accountants. These consents accompany the Forms 11-K for the company's employee savings plans and cover the plans' financial statements.

  2. Does this filing reveal Caterpillar's 1999 financial performance?

    No. The amendment includes only the financial statements of the employee savings plans. Caterpillar's consolidated results, balance sheet, and segment information are not in this document and would be in the original 10-K for fiscal 1999.

  3. How did the employee plans perform in 1999?

    The Employees' Investment Plan's net assets rose to about $2.26 billion from $2.14 billion, helped by $171.8 million of earnings from the Master Trust and $22 million of dividends. Its Caterpillar stock holdings declined in value, with net depreciation of $46.6 million, and withdrawals of $194 million outpaced contributions.

  4. Is there any compliance issue disclosed?

    Yes. A clerical error with payroll deferrals for certain U.S. expatriate employees meant about $2,660 of contributions for the March 15, 1999 pay period reached the plan trust only on December 9, 1999. The company is calculating the lost earnings and will contribute that amount to participant accounts.

04—Continue

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