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CATERPILLAR INC Annual Report (Amendment), Year Ended Dec 31, 2000

Filing Date
Filed June 13, 2001
Period End
December 31, 2000
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 13, 2001. Cited figures are marked; the original filing is the authoritative source.

This Form 10-K/A for fiscal 2000 is a narrow amendment, not a full annual report.

It adds PricewaterhouseCoopers' audit report covering three employee savings plans (the Employees' Investment Plan, the Tax Deferred Savings Plan, and the Solar Turbines Savings and Investment Plan) and replaces the prior 10-K/A in its entirety. The filing contains no consolidated Caterpillar income statement, balance sheet, segment data, or management discussion. The only company-level figures are the 343,396,810 common shares outstanding at December 31, 2000 and an aggregate non-affiliate market value of about $16.04 billiona.

The plan financials show a weaker year for employee holdings of Caterpillar stock. The Employees' Investment Plan's net assets fell to $2.15 billionb at November 30, 2000, from $2.26 billion a year earlier, a decline of about $108 million. The main driver was a $123.3 million net depreciation in Caterpillar common stock held by the plan.

Withdrawals of $131.8 millionc exceeded contributions of $157.4 million, but the market decline was the larger factor. The Caterpillar Common Stock Fund (Part 1) held $728.1 million, or 18.5 million shares, at year-end. For investors, the amendment's relevance is limited.

It is mainly a compliance and disclosure correction that adds the auditor's report needed for the Form 11-K exhibits. Investors seeking Caterpillar's operating performance, earnings, or balance sheet should consult the original 10-K for fiscal 2000 rather than this amendment.

02—Key points

Key Highlights

  1. Filing scope: The 10-K/A adds PricewaterhouseCoopers' audit report for three employee plans and replaces the prior amendment in full. It does not contain Caterpillar's consolidated financial statements.
  2. Shares and market value: 343,396,810 common shares were outstanding at December 31, 2000, with an aggregate non-affiliate market value of about $16.04 billion.
  3. Employees' Investment Plan net assets: $2.149 billion at November 30, 2000, down from $2.257 billion in 1999, a decline of about $108 million (roughly 4.8%).
  4. Stock-driven decline: Net depreciation of $123.3 million in Caterpillar common stock was the main cause of the plan's decline, outweighing net withdrawals of about $125 million.
  5. Company stock exposure: The Caterpillar Common Stock Fund held $728.1 million (18.5 million shares), about 34% of the Employees' Investment Plan's net assets.
  6. Other plans: The Tax Deferred Savings Plan reported net assets of $275.0 million and the Solar Turbines Savings and Investment Plan $32.3 million, both at December 31, 2000.
  7. Master Trust: The 401(k) Master Trust totaled $1.64 billion in net assets, with the Employees' Investment Plan holding an 82.82% pro rata interest.

03—Questions

Frequently Asked Questions

  1. Does this filing include Caterpillar's full annual financial statements?

    No. This 10-K/A amends the original fiscal 2000 10-K only to add the auditor's report for employee benefit plans and includes the plans' Form 11-K financial statements as exhibits. Caterpillar's consolidated results, balance sheet, and business discussion are in the original 10-K, not in this amendment.

  2. Why did the Employees' Investment Plan's net assets decline in 2000?

    Net assets fell about $108 million, to $2.149 billion at November 30, 2000. The main cause was a $123.3 million net depreciation in Caterpillar common stock held by the plan, combined with net withdrawals of about $125 million. Contributions of $157.4 million and dividend income partly offset these outflows.

  3. How concentrated are employee plan assets in Caterpillar stock?

    Quite concentrated. The Caterpillar Common Stock Fund held $728.1 million at November 30, 2000, about 34% of the Employees' Investment Plan's net assets. Part 1 contributions are invested entirely in Caterpillar stock, with participants able to elect 100% or 50% company stock, so employee retirement savings carry significant single-stock risk.

  4. What was Caterpillar's size as measured by shares and market value?

    As of December 31, 2000, Caterpillar had 343,396,810 common shares outstanding. The aggregate market value of shares held by non-affiliates was about $16.04 billion, using a computation that treated directors and officers as affiliates.

04—Continue

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