Segment Information (Tables)

12 Months Ended

Dec. 31, 2020

Reconciliation of Sales and revenues

For the years ended December 31, 2020, 2019 and 2018, sales and revenues by geographic region reconciled to consolidated sales and revenues were as follows:


Sales and Revenues by Geographic Region
(Millions of dollars)	North America		Latin America		EAME		Asia/ Pacific		External Sales and Revenues			Intersegment Sales and Revenues		Total Sales and Revenues
2020
Construction Industries	$	7,365	$	1,031	$	3,466	$	5,014	$	16,876		$	42	$	16,918
Resource Industries	2,286		1,253		1,570		2,337		$	7,446		460		7,906
Energy & Transportation	6,843		932		4,448		2,441		$	14,664		2,806		17,470
Financial Products Segment	1,930		257		392		465		$	3,044	1	—		3,044
Total sales and revenues from reportable segments	18,424		3,473		9,876		10,257		42,030			3,308		45,338
All Other operating segment	27		4		26		56		113			354		467
Corporate Items and Eliminations	(237)		(45)		(44)		(69)		(395)			(3,662)		(4,057)
Total Sales and Revenues	$	18,214	$	3,432	$	9,858	$	10,244	$	41,748		$	—	$	41,748


2019
Construction Industries	$	11,455	$	1,533	$	4,012	$	5,556	$	22,556		$	93	$	22,649
Resource Industries	3,632		1,533		1,836		2,812		9,813			463		10,276
Energy & Transportation	8,864		1,389		4,994		3,238		18,485			3,612		22,097
Financial Products Segment	2,235		299		408		492		3,434		1	—		3,434
Total sales and revenues from reportable segments	26,186		4,754		11,250		12,098		54,288			4,168		58,456
All Other operating segment	25		7		28		67		127			373		500
Corporate Items and Eliminations	(426)		(51)		(55)		(83)		(615)			(4,541)		(5,156)
Total Sales and Revenues	$	25,785	$	4,710	$	11,223	$	12,082	$	53,800		$	—	$	53,800

2018
Construction Industries	$	10,754	$	1,479	$	4,410	$	6,473	$	23,116		$	121	$	23,237
Resource Industries	3,357		1,647		2,217		2,667		9,888			382		10,270
Energy & Transportation	9,685		1,331		4,934		2,882		18,832			3,953		22,785
Financial Products Segment	2,153		281		387		458		3,279		1	—		3,279
Total sales and revenues from reportable segments	25,949		4,738		11,948		12,480		55,115			4,456		59,571
All Other operating segment	63		3		18		70		154			328		482
Corporate Items and Eliminations	(389)		(46)		(37)		(75)		(547)			(4,784)		(5,331)
Total Sales and Revenues	$	25,623	$	4,695	$	11,929	$	12,475	$	54,722		$	—	$	54,722

1 Includes revenues from Construction Industries, Resource Industries, Energy & Transportation and All Other operating segment of $362 million , $524 million, and $470 million in the years ended December 31, 2020, 2019 and 2018, respectively.

For the years ended December 31, 2020, 2019 and 2018, Energy & Transportation segment sales by end user application were as follows:


Energy & Transportation External Sales

(Millions of dollars)
	2020		2019		2018
Oil and gas	$	3,701	$	5,205	$	5,763
Power generation	3,963		4,474		4,334
Industrial	2,945		3,749		3,640
Transportation	4,055		5,057		5,095
Energy & Transportation External Sales	$	14,664	$	18,485	18,832

Reconciliation of Consolidated profit before taxes:


Reconciliation of Consolidated profit before taxes:
(Millions of dollars)
	2020		2019		2018
Profit from reportable segments:
Construction Industries	$	2,373	$	3,931	$	4,174
Resource Industries	896		1,629		1,603
Energy & Transportation	2,405		3,910		3,938
Financial Products Segment	590		832		505
Total profit from reportable segments	6,264		10,302		10,220
Profit from All Other operating segment	28		4		23
Cost centers	(4)		(6)		2
Corporate costs	(517)		(607)		(610)
Timing	(106)		(93)		(257)
Restructuring costs	(241)		(207)		(386)
Methodology differences:
Inventory/cost of sales	4		(19)		51
Postretirement benefit expense	(173)		(401)		(124)
Stock-based compensation expense	(202)		(205)		(198)
Financing costs	(444)		(248)		(257)
Currency	(266)		(175)		(219)
Other income/expense methodology differences	(322)		(481)		(362)
Other methodology differences	(26)		(52)		(61)
Total consolidated profit before taxes	$	3,995	$	7,812	$	7,822

Reconciliation of Assets:


Reconciliation of Assets:
(Millions of dollars)	December 31,
	2020		2019
Assets from reportable segments:
Construction Industries	$	4,259	$	4,601
Resource Industries	6,035		6,505
Energy & Transportation	8,582		8,548
Financial Products Segment	34,278		35,813
Total assets from reportable segments	53,154		55,467
Assets from All Other operating segment	1,717		1,728
Items not included in segment assets:
Cash and short-term investments	8,822		7,299


Deferred income taxes	1,413		1,294
Goodwill and intangible assets	4,847		4,435
Property, plant and equipment – net and other assets	2,833		2,529
Inventory methodology differences	(2,536)		(2,426)
Liabilities included in segment assets	8,466		8,541
Other	(392)		(414)
Total assets	$	78,324	$	78,453

Reconciliation of Depreciation and amortization:


Reconciliation of Depreciation and amortization:
(Millions of dollars)
	2020		2019		2018
Depreciation and amortization from reportable segments:
Construction Industries	$	245	$	302	$	367
Resource Industries	418		450		462
Energy & Transportation	593		624		640
Financial Products Segment	773		829		834
Total depreciation and amortization from reportable segments	2,029		2,205		2,303
Items not included in segment depreciation and amortization:
All Other operating segment	267		210		225
Cost centers	126		135		130
Other	10		27		108
Total depreciation and amortization	$	2,432	$	2,577	$	2,766

Reconciliation of Capital expenditures:


Reconciliation of Capital expenditures:
(Millions of dollars)
	2020		2019		2018
Capital expenditures from reportable segments:
Construction Industries	$	213	$	201	$	266
Resource Industries	125		168		188
Energy & Transportation	495		613		742
Financial Products Segment	1,100		1,534		1,559
Total capital expenditures from reportable segments	1,933		2,516		2,755
Items not included in segment capital expenditures:
All Other operating segment	156		131		170
Cost centers	47		101		100
Timing	19		(11)		42
Other	(40)		(68)		(151)
Total capital expenditures	$	2,115	$	2,669	$	2,916

Information about Geographic Areas


Enterprise-wide Disclosures:
Information about Geographic Areas:
							Property, plant and equipment - net
	External sales and revenues 1						December 31,
(Millions of dollars)	2020		2019		2018		2020		2019
Inside United States	$	16,269	$	22,806	$	22,690	$	7,242	$	7,568
Outside United States	25,479		30,994		32,032		5,159		5,336
Total	$	41,748	$	53,800	$	54,722	$	12,401	$	12,904

1 Sales of ME&T are based on dealer or customer location. Revenues from services provided are based on where service is rendered.