February 01, 2015 5:20 AM ET

Consumer Finance

Company Overview of Caterpillar Financial Services Corporation

Company Overview

Caterpillar Financial Services Corporation, together with its subsidiaries, provides retail and wholesale financing solutions for Caterpillar Inc.’s (Caterpillar) products to customers and dealers worldwide. Its retail financing solutions comprise financing of Caterpillar equipment, machinery, and engines. The company also offers financing for vehicles, power generation facilities, and marine vessels that primarily incorporate Caterpillar products. In addition, it provides wholesale financing to Caterpillar dealers; and purchases short-term receivables from Caterpillar. The company was founded in 1981 and is headquartered in Nashville, Tennessee. Caterpillar Financial Services Corporation is...

2120 West End Avenue

Nashville, TN 37203

United States

Founded in 1981

Phone:

615-341-1000

Key Executives for Caterpillar Financial Services Corporation

Chief Executive Officer
Age: 59
Chief Financial Officer and Executive Vice President
Group President of Caterpillar Inc
Age: 63
President of Cat Financial Insurance Services
Age: 53
Principal Accounting Officer and Controller
Compensation as of Fiscal Year 2014.

Caterpillar Financial Services Corporation Key Developments

Cat Financial Reports Earnings Results for the Fourth Quarter and Year of 2014

Cat Financial reported earnings results for the fourth quarter and year of 2014. For the quarter, the company reported fourth-quarter 2014 revenues of $703 million, a decrease of $8 million, or 1%, compared with the fourth quarter of 2013. Fourth-quarter 2014 profit after tax was $108 million, a $50 million, or 32%, decrease from the fourth quarter of 2013. The decrease in Revenue was primarily due to a $23 million unfavorable impact from lower average financing rates, partially offset by a $14 million favorable impact from higher average earning assets. Profit before income taxes was $166 million, compared with $204 million for the fourth quarter of 2013. The decrease was primarily due to $23 million higher provision for credit losses (largely a result of the absence of a favorable adjustment that occurred during the fourth quarter of 2013) and the absence of a $17 million currency gain that occurred during the fourth quarter of 2013. For 2014, the company reported revenues of $2.89 billion for 2014, an increase of $100 million, or 4%, compared with 2013. Profit after tax was $535 million, a $22 million, or 4%, increase from 2013. The increase in Revenue was primarily due to a $110 million favorable impact from higher average earning assets, partially offset by a $20 million unfavorable impact from lower average financing rates. Profit before income taxes was $753 million for 2014, compared with $694 million for 2013. The increase was primarily due to a $49 million favorable net impact from higher average earning assets and a $40 million improvement in net yield on average earning assets, partially offset by a $38 million increase in provision for credit losses (largely a result of he absence of a favorable adjustment that occurred during the fourth quarter of 2013).

Caterpillar Financial Services Corporation Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014

Caterpillar Financial Services Corporation reported earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported revenues of $743 million compared to $699 million a year ago. Profit before income taxes was $197 million compared to $164 million a year ago. The increase was primarily due to a $23 million improvement on net yield on average earning assets and a $16 million favorable impact from higher average earning assets. Profit after tax was $148 million compared to $117 million a year ago. The increase in Revenue was primarily due to a $37 million favorable impact from higher average earning assets. For the nine months period, the company reported revenues of $2,182 million compared to $2,074 million a year ago. Profit before income taxes was $587 million compared to $490 million a year ago. Profit after tax was $427 million compared to $355 million a year ago.

Caterpillar Financial Services Corporation Announces Earnings Results for the Second Quarter and Six Months Ended June 30, 2014

Caterpillar Financial Services Corporation announced earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported revenues of $728 million compared to $694 million a year ago. Profit before income taxes was $206 million compared to $158 million a year ago. Profit after tax was $146 million compared to $111 million a year ago. The increase in Revenue was primarily due to a $36 million favorable impact from higher average earning assets. The increase in profit before tax was primarily due to the absence of a $23 million currency loss in the second quarter of 2013, a $17 million favorable impact from higher average earning assets and a $16 million improvement on net yield on average earning assets. For the six months, the company reported revenues of $1,441 million compared to $1,374 million a year ago. Profit before income taxes was $394 million compared to $345 million a year ago. Profit after tax was $282 million compared to $252 million a year ago.

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