2015 Year in Review

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Business Review

Five-Year Financial Summary

Dollars in millions except per share data
Years ended December 31,   2015     2014     2013     2012     2011  
         
Sales and revenues $ 47,011   $ 55,184   $ 55,656   $ 65,875   $ 60,138  
Percent inside the United States   41 %   38 %   33 %   31 %   30 %
Percent outside the United States   59 %   62 %   67 %   69 %   70 %
Sales $ 44,147   $ 52,142   $ 52,694   $ 63,068   $ 57,392  
Revenues $ 2,864   $ 3,042   $ 2,962   $ 2,807   $ 2,746  
Profit 4 $ 2,102   $ 3,695   $ 3,789   $ 5,681   $ 4,928  
Profit per common share 1 $ 3.54   $ 5.99   $ 5.87   $ 8.71   $ 7.64  
Profit per common share – diluted 2 $ 3.50   $ 5.88   $ 5.75   $ 8.48   $ 7.40  
Dividends declared per share of common stock $ 3.01   $ 2.70   $ 2.32   $ 2.02   $ 1.82  
Return on average common stockholders’ equity 3   13.3 %   19.6 %   19.7 %   37.2 %   41.4 %
Capital expenditures:
Property, plant and equipment $ 1,388   $ 1,539   $ 2,522   $ 3,350   $ 2,515  
Equipment leased to others $ 1,873   $ 1,840   $ 1,924   $ 1,726   $ 1,409  
Depreciation and amortization $ 3,046   $ 3,163   $ 3,087   $ 2,813   $ 2,527  
Research and development expenses $ 2,165   $ 2,135   $ 2,046   $ 2,466   $ 2,297  
As a percent of sales and revenues   4.6 %   3.9 %   3.7 %   3.7 %   3.8 %
Average number of employees   110,800     115,600     122,500     127,800     113,600  
December 31,        
Total assets $ 78,497   $ 84,681   $ 84,896   $ 88,970   $ 81,218  
Long-term debt due after one year:
Consolidated $ 25,247   $ 27,784   $ 26,719   $ 27,752   $ 24,944  
Machinery, Energy & Transportation $ 9,004   $ 9,493   $ 7,999   $ 8,666   $ 8,415  
Financial Products $ 16,243   $ 18,291   $ 18,720   $ 19,086   $ 16,529  
Total debt:
Consolidated $ 38,093   $ 39,285   $ 37,750   $ 40,143   $ 34,592  
Machinery, Energy & Transportation $ 9,530   $ 10,012   $ 8,775   $ 10,415   $ 9,066  
Financial Products $ 28,563   $ 29,273   $ 28,975   $ 29,728   $ 25,526  
 
1 Computed on weighted-average number of shares outstanding.
2 Computed on weighted-average number of shares outstanding diluted by assumed exercise of stock-based compensation awards, using the treasury stock method.
3 Represents profit divided by average stockholders’ equity (beginning-of-year stockholders’ equity plus end-of-year stockholders’ equity divided by two).
4 Profit attributable to common stockholders.