Caterpillar 2010 Annual Report Download - page 31

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31
PERFORMANCE • HIGHLIGHTS
FINANCIAL PRODUCTS
2010 after-tax profits were $350 million, a 14 percent increase from 2009.
Cat Financial’s new retail financing increased $1.8 billion, or 24 percent, from 2009 to $9.46 billion in 2010.
Cat Financial’s overall portfolio quality reflected continued improvement in global economic conditions. At the end of 2010,
past dues were 3.87 percent, down from 5.54 percent at the end of 2009.
Cat Financial issued its first-ever renminbi (RMB)-denominated medium term note to assist in funding operations in China,
a significant milestone in expanding Cat Financial’s global funding platform.
Caterpillar entered into a finance collaboration agreement with dealers in India and with a number of key infrastructure-focused
banks and Non-Banking Financial Companies (NBFCs) to give customers in India greater access to new finance options to
purchase Cat® equipment.
As a result of teamwork, Cat Financial funded 92 percent of the over 200 Cat machines being used for the Panama Canal
expansion project.
In support of the launch of the Cat vocational trucks, Cat Financial financed the first Cat CT630 in Australia and the 9800
International truck in Brazil.
2010 YEAR IN REVIEW