Long-Term Debt Maturities

Entity Registrant Name CATERPILLAR INC
CIK 0000018230
Accession number 0000018230-14-000058
Link to XBRL instance http://www.sec.gov/Archives/edgar/data/18230/000001823014000058/cat-20131231.xml
Fiscal year end --12-31
Fiscal year focus 2013
Fiscal period focus FY
Current balance sheet date 2013-12-31
Current year-to-date income statement start date 2013-01-01

Commentary Filer breakes out the current portion total into two components for which extension concepts were created: cat:LongTermDebtDueWithinOneYearMachineryAndPowerSystems cat:LongTermDebtDueWithinOneYearFinancialProducts. Total of long term debt was imputed because no total was provided.

Level 1 (Note level) Text Block concept us-gaap:LongTermDebtTextBlock
Long-term debt
 
 
 
December 31,
(Millions of dollars)
 
2013
 
2012
 
2011
Machinery and Power Systems:
 
 

 
 

 
 

Notes—Floating Rate (Three-month USD LIBOR plus 0.17%) due 2013
 
$

 
$

 
$
750

Notes—1.375% due 2014
 

 
750

 
750

Notes—5.700% due 2016
 
506

 
508

 
510

Notes—3.900% due 2021
 
1,246

 
1,245

 
1,245

Notes—5.200% due 2041
 
757

 
757

 
1,247

Debentures—7.000% due 2013
 

 

 
350

Debentures—0.950% due 2015
 
500

 
500

 

Debentures—1.500% due 2017
 
500

 
499

 

Debentures—7.900% due 2018
 
899

 
899

 
899

Debentures—9.375% due 2021
 
120

 
120

 
120

Debentures—2.600% due 2022
 
498

 
498

 

Debentures—8.000% due 2023
 
82

 
82

 
82

Debentures—6.625% due 2028
 
193

 
193

 
299

Debentures—7.300% due 2031
 
241

 
241

 
349

Debentures—5.300% due 2035 1
 
209

 
208

 
206

Debentures—6.050% due 2036
 
459

 
459

 
748

Debentures—8.250% due 2038
 
65

 
65

 
248

Debentures—6.950% due 2042
 
160

 
160

 
250

Debentures—3.803% due 2042 2
 
1,168

 
1,149

 

Debentures—7.375% due 2097
 
244

 
244

 
297

Capital lease obligations
 
97

 
73

 
46

Other
 
55

 
16

 
19

Total Machinery and Power Systems
 
7,999

 
8,666

 
8,415

Financial Products:
 
 

 
 

 
 

Medium-term notes
 
17,856

 
18,036

 
15,701

Other
 
864

 
1,050

 
828

Total Financial Products
 
18,720

 
19,086

 
16,529

Total long-term debt due after one year
 
$
26,719

 
$
27,752

 
$
24,944


1 
Debentures due in 2035 have a face value of $307 million and an effective yield to maturity of 8.69%.
2 
Debentures due in 2042 have a face value of $1,722 million and an effective yield to maturity of 6.33%.
 
 
 
 
 


All outstanding notes and debentures are unsecured and rank equally with one another.

On June 26, 2012 we issued $500 million of 0.950% Senior Notes due 2015, $500 million of 1.500% Senior Notes due 2017, and $500 million of 2.600% Senior Notes due 2022.

On August 15, 2012 and August 27, 2012, we exchanged $1.72 billion of newly issued 3.803% Debentures due 2042 and $179 million of cash for $1.33 billion of several series of our outstanding debentures of varying interest rates and maturity dates. This exchange met the requirements to be accounted for as a debt modification.

On May 24, 2011, we issued $750 million of Floating Rate Senior Notes (Three-month USD LIBOR plus 0.17%) due in 2013. The interest rates for the Floating Rate Senior Notes will be reset quarterly. We also issued $750 million of 1.375% Senior Notes due in 2014, $1.25 billion of 3.900% Senior Notes due in 2021, and $1.25 billion of 5.200% Senior Notes due in 2041.

We may redeem the 1.375%, 5.700%, 3.900% and 5.200% notes and the 6.625%, 7.300%, 5.300%, 6.050%, 6.950% and 7.375% debentures in whole or in part at our option at any time at a redemption price equal to the greater of 100% of the principal amount or the sum of the present value of the remaining scheduled payments of principal and interest of the notes or debentures to be redeemed. We may redeem some or all of the 0.950% debentures and the 1.500% debentures at our option at any time, and some or all of the 2.600% debentures at any time prior to March 26, 2022 (three months prior to the maturity date of the 2022 debentures), in each case at a redemption price equal to the greater of 100% of the principal amount of the notes being redeemed or at the discounted present value of the notes, calculated in accordance with the terms of the relevant notes. We may redeem some or all of the 3.803% debentures at any time at a redemption price equal to the greater of 100% of the principal amount of the debentures being redeemed or at a make-whole price calculated in accordance with the terms of the debentures. The terms of other notes and debentures do not specify a redemption option prior to maturity.

Cat Financial's medium term notes are offered by prospectus and are issued through agents at fixed and floating rates. These notes have a weighted average interest rate of 2.8% with remaining maturities up to 12 years at December 31, 2013.
 
The aggregate amounts of maturities of long-term debt during each of the years 2014 through 2018, including amounts due within one year and classified as current, are:
 
 
December 31,
(Millions of dollars)
 
2014
 
2015
 
2016
 
2017
 
2018
Machinery and Power Systems
 
$
760

 
$
514

 
$
538

 
$
507

 
$
906

Financial Products
 
6,592

 
6,446

 
4,796

 
2,747

 
2,350

 
 
$
7,352

 
$
6,960

 
$
5,334

 
$
3,254

 
$
3,256

 
 
 
 
 
 
 
 
 
 
 

 
Interest paid on short-term and long-term borrowings for 2013, 2012 and 2011 was $1,141 million, $1,404 million and $1,208 million, respectively.
 
Please refer to Note 18 and Table III for fair value information on long-term debt.
Level 4 (Note level) Text Block concept - Maturities of Long Term Debt us-gaap:ScheduleOfMaturitiesOfLongTermDebtTableTextBlock
The aggregate amounts of maturities of long-term debt during each of the years 2014 through 2018, including amounts due within one year and classified as current, are:
 
 
December 31,
(Millions of dollars)
 
2014
 
2015
 
2016
 
2017
 
2018
Machinery and Power Systems
 
$
760

 
$
514

 
$
538

 
$
507

 
$
906

Financial Products
 
6,592

 
6,446

 
4,796

 
2,747

 
2,350

 
 
$
7,352

 
$
6,960

 
$
5,334

 
$
3,254

 
$
3,256

 
 
 
 
 
 
 
 
 
 
 
Level 4 (Note level) Text Block concept - Debt Instruments us-gaap:ScheduleOfDebtInstrumentsTextBlock
 
 
December 31,
(Millions of dollars)
 
2013
 
2012
 
2011
Machinery and Power Systems:
 
 

 
 

 
 

Notes—Floating Rate (Three-month USD LIBOR plus 0.17%) due 2013
 
$

 
$

 
$
750

Notes—1.375% due 2014
 

 
750

 
750

Notes—5.700% due 2016
 
506

 
508

 
510

Notes—3.900% due 2021
 
1,246

 
1,245

 
1,245

Notes—5.200% due 2041
 
757

 
757

 
1,247

Debentures—7.000% due 2013
 

 

 
350

Debentures—0.950% due 2015
 
500

 
500

 

Debentures—1.500% due 2017
 
500

 
499

 

Debentures—7.900% due 2018
 
899

 
899

 
899

Debentures—9.375% due 2021
 
120

 
120

 
120

Debentures—2.600% due 2022
 
498

 
498

 

Debentures—8.000% due 2023
 
82

 
82

 
82

Debentures—6.625% due 2028
 
193

 
193

 
299

Debentures—7.300% due 2031
 
241

 
241

 
349

Debentures—5.300% due 2035 1
 
209

 
208

 
206

Debentures—6.050% due 2036
 
459

 
459

 
748

Debentures—8.250% due 2038
 
65

 
65

 
248

Debentures—6.950% due 2042
 
160

 
160

 
250

Debentures—3.803% due 2042 2
 
1,168

 
1,149

 

Debentures—7.375% due 2097
 
244

 
244

 
297

Capital lease obligations
 
97

 
73

 
46

Other
 
55

 
16

 
19

Total Machinery and Power Systems
 
7,999

 
8,666

 
8,415

Financial Products:
 
 

 
 

 
 

Medium-term notes
 
17,856

 
18,036

 
15,701

Other
 
864

 
1,050

 
828

Total Financial Products
 
18,720

 
19,086

 
16,529

Total long-term debt due after one year
 
$
26,719

 
$
27,752

 
$
24,944


1 
Debentures due in 2035 have a face value of $307 million and an effective yield to maturity of 8.69%.
2 
Debentures due in 2042 have a face value of $1,722 million and an effective yield to maturity of 6.33%.
 
 
 
 
 


Level 4 Details Key Concepts: Long-term Debt Maturities

Description Fact value US GAAP XBRL Concept
Year 1 (Current portion) 7,352,000,000 us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
Year 2 6,960,000,000 us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
Year 3 5,334,000,000 us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
Year 4 3,254,000,000 us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
Year 5 3,256,000,000 us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
Thereafter 0
Total Long-term Debt 26,156,000,000
CHECK 0

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(Classified balance sheet) Deferred tax assets (liabilities), net components current/noncurrent asset/liability

Description Fact value US GAAP XBRL Concept
Current portion 0
Noncurrent portion 26,719,000,000 us-gaap:LongTermDebtNoncurrent
Total Long-Term Debt 26,156,000,000
CHECK -563,000,000

*


*

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