What is the primary purpose of this 8-K filing?

The primary purpose of this filing is to provide investors with supplemental information regarding Caterpillar's dealer statistics for retail sales of machines and power systems. This is intended to offer a more timely view of business trends than standard financial reports, acknowledging the lag between sales to dealers and deliveries to end-users.

How reliable is the data presented in this report?

The data presented is based on unaudited reports provided by Caterpillar's independent dealers. These reports are not subject to Caterpillar's internal controls over financial reporting. While management believes this information helps readers understand the business, investors should consider this supplemental data with that caveat in mind.

What are the key positive trends indicated by the dealer statistics?

The statistics show strong positive year-over-year growth in retail machine sales across most regions, particularly in North America and Asia/Pacific. Power systems also saw overall growth, driven by sectors like Transportation and Petroleum, indicating healthy demand in key markets and product lines.

Are there any significant shifts in end-use markets mentioned?

Yes, the filing highlights an increasing reliance on the Mining sector for machinery distribution, which grew from 28% in 2010 to 33% in 2011. For engines, Petroleum and Electric Power remain dominant sectors, with Petroleum accounting for 39% of distribution in 2011.

CAT 8-K: Regulation FD — Mar 20, 2012

Summary

This Form 8-K filing from Caterpillar Inc. (CAT) on March 20, 2012, provides supplemental data on retail sales of machines and power systems, based on information reported by its independent dealers. This disclosure aims to offer investors a clearer understanding of the company's business trends and the industries it serves, acknowledging the time lag between Caterpillar's sales to dealers and dealers' deliveries to end-users. The data is presented as rolling three-month periods compared to the prior year. Key trends highlighted include robust growth in machine retail sales across most regions, notably North America (up 39% for the three months ending February 2012) and Asia/Pacific (up 20%), indicating strong demand. Power systems also showed overall growth (up 13%), driven by strong performance in Transportation and Petroleum sectors, although Electric Power and Industrial sectors saw moderating or declining growth rates. The filing also breaks down machinery and engine distribution to end-users by major sector for 2011 versus 2010, showing Mining as a significant and growing segment for machinery, and Petroleum and Electric Power as key segments for engines.

Key Highlights

1Caterpillar is providing supplemental dealer statistics for retail sales of machines and power systems to give investors insight into business trends.
2Machine retail sales showed strong year-over-year growth in the three months ending February 2012, with North America (39%) and Asia/Pacific (20%) leading the way.
3Overall power systems retail sales increased by 13% for the same period, with significant growth in Transportation (22%) and Petroleum (22%) sectors.
4The EAME region (Europe, Africa, Middle East) also experienced positive growth in machine retail sales (13%).
5For the full year 2011, Mining accounted for a substantial 33% of new machinery distribution to end-users, up from 28% in 2010.
6Petroleum (39%) and Electric Power (34%) were the dominant end-use sectors for new engine distribution in 2011.
7The company notes that data is based on unaudited dealer reports and may not be subject to internal financial controls.

CATERPILLAR INC 8-K Report, Regulation FD Disclosure (Mar 20, 2012)

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