Exhibit 99(d)
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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 11-K
(Mark One)
[ X ] ANNUAL REPORT PURSUANT TO SECTION 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934 [Fee Required]
For the Fiscal Year Ended December 31, 1993
OR
TRANSITION REPORT PURSUANT TO SECTION 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934 (No Fee Required]
For the transition period from _____ to _____
Commission File Number 1-768
TAX DEFERRED SAVINGS PLAN
(Full title of the Plan)
CATERPILLAR INC.
(Name of issuer of the securities held
pursuant to the Plan)
100 NE ADAMS STREET, PEORIA, ILLINOIS 61629
(Address of principal executive offices)
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REQUIRED INFORMATION
Item 1.
The audited statement of financial condition as of the end of the latest two
fiscal years of the Plan is attached hereto as Exhibit A.
Item 2.
The audited statement of income and changes in plan equity for each of the
latest three fiscal years of the Plan is attached hereto as Exhibit B.
Item 3.
The statements required by Items 1 and 2 have been prepared in accordance with
the applicable provisions of Article 6A of Regulation S-X.
Item 4.
The Consent of Independent Accountants is attached hereto as Exhibit C.
[PRICE WATERHOUSE LOGO]
TAX DEFERRED SAVINGS PLAN
-------------------------
FINANCIAL STATEMENTS
--------------------
DECEMBER 31, 1993 ANNUAL REPORT
-------------------------------
[LETTERHEAD OF PRICE WATERHOUSE]
REPORT OF INDEPENDENT ACCOUNTANTS
---------------------------------
February 11, 1994
To the Participants and
Plan Administrator of the
Tax Deferred Savings Plan
for Eligible Employees of
Caterpillar Inc.
In our opinion, the accompanying statements of net assets available for plan
benefits of the Tax Deferred Savings Plan (for Eligible Employees of Caterpillar
Inc.) and the related statements of changes in net assets available for plan
benefits present fairly, in all material respects, the net assets available for
plan benefits as of December 31, 1993 and 1992, and the changes in net assets
available for plan benefits for the years ended December 31, 1993, 1992 and 1991
in conformity with generally accepted accounting principles. These financial
statements are the responsibility of the plan's management; our responsibility
is to express an opinion on these financial statements based on our audits. We
conducted our audits of these statements in accordance with generally accepted
auditing standards which require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free of material
misstatement. An audit includes examining, on a test basis, evidence supporting
the amounts and disclosures in the financial statements, assessing the
accounting principles used and significant estimates made by management, and
evaluating the overall financial statement presentation. We believe that our
audits provide a reasonable basis for the opinion expressed above.
[Signature of Price Waterhouse]
EXHIBIT A
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TAX DEFERRED SAVINGS PLAN
-------------------------
FOR ELIGIBLE EMPLOYEES OF CATERPILLAR INC.
-------------------------------------------
STATEMENT OF NET ASSETS AVAILABLE FOR PLAN BENEFITS
---------------------------------------------------
DECEMBER 31, 1993
-----------------
(in 000's)
Preferred Group of Mutual Funds
Caterpillar Guaranteed -----------------------------------------------------------------
Common Investment Stable Short-
Stock Contract Principal Term Money Asset Fixed Loan
Fund Fund Fund Government Market Value International Growth Allocation Income Fund Total
----------- ---------- --------- ---------- ------ ------- ------------- ------- ---------- ------ ------ -------
Investment in
Caterpillar
Inc. 401(K)
Master Trust
(Note 5) $9,301 $21,896 $11,783 $2,884 $3,935 $16,625 $5,430 $17,148 $2,053 $1,494 $2,831 $95,380
====== ======= ======= ====== ====== ======= ====== ======= ====== ====== ====== =======
(See notes to financial statements)
TAX DEFERRED SAVINGS PLAN
-------------------------
FOR ELIGIBLE EMPLOYEES OF CATERPILLAR INC.
------------------------------------------
STATEMENT OF NET ASSETS AVAILABLE FOR PLAN BENEFITS
---------------------------------------------------
DECEMBER 31, 1992
-----------------
(in 000's)
Preferred Group of Mutual Funds
Caterpillar Guaranteed -----------------------------------------------------------------
Common Investment Short-
Stock Contract Term Money Asset Fixed Loan
Fund Fund Government Market Value International Growth Allocation Income Fund Total
----------- ---------- ---------- ------ ------- ------------- ------- ---------- ------ ------ -------
Investment in
Caterpillar Inc.
401(K) Master Trust
(Note 5) $6,333 $32,111 $2,736 $3,414 $14,077 $1,422 $10,922 $1,150 $339 $1,951 $74,455
====== ======= ====== ====== ======= ====== ======= ====== ==== ====== =======
(See notes to financial statements)
EXHIBIT B
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TAX DEFERRED SAVINGS PLAN
-------------------------
FOR ELIGIBLE EMPLOYEES OF CATERPILLAR INC.
------------------------------------------
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR PLAN BENEFITS
--------------------------------------------------------------
FOR THE YEAR ENDED DECEMBER 31, 1993
------------------------------------
(in 000's)
Preferred Group of Mutual Funds
Caterpillar Guaranteed -----------------------------------------------------------------
Common Investment Stable Short-
Stock Contract Principal Term Money Asset Fixed Loan
Fund Fund Fund Government Market Value International Growth Allocation Income Fund Total
----------- ---------- --------- ---------- ------ ------- ------------- ------- ---------- ------ ------ -------
Contributions on
behalf of partic-
ipating employees $ 712 $ $ 4,313 $ 365 $ 539 $ 1,981 $ 766 $ 3,265 $ 524 $ 303 $ $12,768
------- -------- ------- ------ ------ ------- ------ ------- ------ ------ ------ -------
Plan interest in
net investment
gain of Master
Trust (Note 5) 5,046 1,744 585 186 102 1,431 1,057 2,142 148 65 12,506
------- -------- ------- ------ ------ ------- ------ ------- ------ ------ ------ -------
Withdrawals (1,842) (845) (503) (146) (195) (380) (29) (299) (50) (2) (58) (4,349)
Net transfers
between funds (561) (10,561) 7,213 (242) 145 (414) 2,243 1,133 265 779
------- -------- ------- ------ ------ ------- ------ ------- ------ ------ ------ -------
Withdrawals
and trans-
fers, net (2,403) (11,406) 6,710 (388) (50) (794) 2,214 834 215 777 (58) (4,349)
------- -------- ------- ------ ------ ------- ------ ------- ------ ------ ------ -------
Loan repayments 77 463 31 85 208 74 337 36 39 (1,350)
New loans (464) (553) (288) (46) (155) (278) (103) (352) (20) (29) 2,288
------- -------- ------- ------ ------ ------- ------ ------- ------ ------ ------ -------
Net loan
activity (387) (553) 175 (15) (70) (70) (29) (15) 16 10 938
------- -------- ------- ------ ------ ------- ------ ------- ------ ------ ------ -------
Increase (decrease)
in net assets 2,968 (10,215) 11,783 148 521 2,548 4,008 6,226 903 1,155 880 20,925
Net assets:
Beginning of
year 6,333 32,111 2,736 3,414 14,077 1,422 10,922 1,150 339 1,951 74,455
------- -------- ------- ------ ------ ------- ------ ------- ------ ------ ------ -------
End of year $ 9,301 $ 21,896 $11,783 $2,884 $3,935 $16,625 $5,430 $17,148 $2,053 $1,494 $2,831 $95,380
======= ======== ======= ====== ====== ======= ====== ======= ====== ====== ====== =======
(See notes to financial statements)
TAX DEFERRED SAVINGS PLAN
-------------------------
FOR ELIGIBLE EMPLOYEES OF CATERPILLAR INC.
------------------------------------------
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR PLAN BENEFITS
--------------------------------------------------------------
FOR THE YEAR ENDED DECEMBER 31, 1992
------------------------------------
(in 000's)
Preferred Group of Mutual Funds
Caterpillar Guaranteed -----------------------------------------------------------------
Common Investment Short-
Stock Equity Contract Term Money Asset Fixed Loan
Fund Fund Fund Government Market Value International Growth Allocation Income Fund Total
----------- ------- ---------- ---------- ------ ------- ------------- ------- ---------- ------ ------ -------
Contributions on
behalf of partici-
pating employees $ 602 $ 1,647 $ 4,342 $ 405 $ 403 $ 975 $ 216 $ 1,355 $ 201 $ 84 $ $10,230
------ -------- ------- ------ ------ ------- ------ ------- ------ ---- ------ -------
Plan interest in net
investment gain
(loss) of Master
Trust (Note 5) 1,294 1,084 2,332 191 162 1,247 (238) 1,582 90 16 7,760
------ -------- ------- ------ ------ ------- ------ ------- ------ ---- ------ -------
Withdrawals (344) (532) (1,588) (196) (206) (195) (17) (61) (26) (10) (42) (3,217)
Net transfers between
funds (361) (22,961) 1,205 (206) (539) 12,150 1,474 8,105 885 248
------ -------- ------- ------ ------ ------- ------ ------- ------ ---- ------ -------
Withdrawals and
transfers, net (705) (23,493) (383) (402) (745) 11,955 1,457 8,044 859 238 (42) (3,217)
------ -------- ------- ------ ------ ------- ------ ------- ------ ---- ------ -------
Loan repayments 32 88 239 24 27 61 16 93 7 2 (589)
New loans (96) (191) (510) (46) (112) (161) (29) (152) (7) (1) 1,305
------ -------- ------- ------ ------ ------- ------ ------- ------ ---- ------ -------
Net loan activity (64) (103) (271) (22) (85) (100) (13) (59) 1 716
------ -------- ------- ------ ------ ------- ------ ------- ------ ---- ------ -------
Increase (decrease)
in net assets 1,127 (20,865) 6,020 172 (265) 14,077 1,422 10,922 1,150 339 674 14,773
Net assets:
Beginning of year 5,206 20,865 26,091 2,564 3,679 1,277 59,682
------ -------- ------- ------ ------ ------- ------ ------- ------ ---- ------ -------
End of year $6,333 $ - $32,111 $2,736 $3,414 $14,077 $1,422 $10,922 $1,150 $339 $1,951 $74,455
====== ======== ======= ====== ====== ======= ====== ======= ====== ==== ====== =======
(See notes to financial statements)
TAX DEFERRED SAVINGS PLAN
FOR ELIGIBLE EMPLOYEES OF CATERPILLAR INC.
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR PLAN BENEFITS
FOR THE YEAR ENDED DECEMBER 31, 1991
(in 000's)
Short- Caterpillar Government Guaranteed
Term Common Fixed Investment
Investment Stock Equity Income Contract Loan
Fund Fund Fund Fund Fund Fund Total
---------- ----------- ------ ---------- ---------- ------ -------
Contributions on behalf of participating employees $ 430 $ 732 $ 3,857 $ 354 $ 6,574 $ $11,947
------ ------ ------- ------ ------- ------ -------
Plan interest in net investment gain (loss) of Master
Trust (Note 5) 138 (219) 4,221 243 2,087 6,470
------ ------ ------- ------ ------- ------ -------
Withdrawals (115) (223) (463) (178) (1,000) (1,979)
Net transfers between plans (Note 3) (27) (23) (142) (19) (196) (407)
Net transfers between funds 853 94 (74) 462 (1,335)
------ ------ ------- ------ ------- ------ -------
Withdrawals and transfers, net 711 (152) (679) 265 (2,531) (2,386)
------ ------ ------- ------ ------- ------ -------
Loan repayments 17 25 183 9 193 (427)
New loans (81) (106) (355) (58) (559) 1,159
------ ------ ------- ------ ------- ------ -------
Net loan activity (64) (81) (172) (49) (366) 732
------ ------ ------- ------ ------- ------ -------
Increase in net assets 1,215 280 7,227 813 5,764 732 16,031
Net assets:
Beginning of year 2,464 4,926 13,638 1,751 20,327 545 43,651
------ ------ ------- ------ ------- ------ -------
End of year $3,679 $5,206 $20,865 $2,564 $26,091 $1,277 $59,682
====== ====== ======= ====== ======= ====== =======
(See notes to financial statements)
TAX DEFERRED SAVINGS PLAN
FOR ELIGIBLE EMPLOYEES OF CATERPILLAR INC.
NOTES TO FINANCIAL STATEMENTS
NOTE 1 - PLAN DESCRIPTION:
The following description of the Tax Deferred Savings Plan (Plan) provides only
general information. Participants should refer to the Plan agreement for a more
complete description of the Plan's provisions.
General
The Plan is a defined contribution plan established by the Company to enable
eligible employees to defer a portion of their compensation until retirement.
Participation
Employees under collective bargaining agreements to which the Plan is extended
meeting certain age, service and citizen or residency requirements are eligible
to participate in the Plan. Participation commences upon an eligible employee's
filing of an application with the Company.
At December 31, 1993, 6,626 employees are participating in the Plan. At
December 31, 1992, 6,462 employees were participating in the Plan.
Participant accounts
Accounts are maintained separately for each participant. The participant's
separate account is credited with the Company's contribution as defined below
and an allocation of Plan earnings. Allocations of earnings are based on
participant account balances, as defined. The benefit to which a participant is
entitled is the benefit that can be provided from the participant's account.
Loan provisions
The Plan provides for participant loans against eligible participants' separate
account balances. Eligible employees obtain participant loans by filing a loan
application with the Company and receiving approval thereof. Loan amounts are
generally limited to the lesser of $50,000 or 50% of the individual
participant's account balance. Loan repayment terms may range from 6 to 117
months depending on the type of loan and bear interest at the prime interest
rate plus 1%. Repayments, including interest, are made through payroll
deductions and are credited to the individual participant's account balance.
Contributions
The employer contributes the amount of compensation deferral, as elected by the
participating employee, to the Plan. During 1993, the reduction in compensation
was limited to (a) the greater of $4,500 or 4% of the employee's compensation
(limited by the Internal Revenue Code to $8,994 in 1993) for participants
earning in excess of $60,530 or (b) $8,994 for participants earning less than
$60,530.
Investment programs
Employees may elect to have contributions on their behalf invested in any
combination of the funds shown on the accompanying statements of changes in net
assets available for plan benefits.
Vesting, distribution and plan termination
Participants are fully vested in contributions made on their behalf. Upon
termination of employment for any reason, including death, retirement or because
of total and permanent disability, or upon Plan termination, the balances in a
participant's account are distributable.
Administration
The Plan is administered by the Vice President - Human Services Division of
Caterpillar Inc. The Plan Administrator has entered into trust agreements with
The Northern Trust Company to receive contributions, administer the assets of
the trust and distribute withdrawals pursuant to the Plan. The Benefits Funds
Committee of Caterpillar Inc. is responsible for financial aspects of the Plan.
Federal income tax status
The Plan is a qualified plan under the Internal Revenue Code and has received a
favorable determination letter.
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES:
Investments
The Guaranteed Investment Contracts are stated at contract value, which
approximates market, on December 31, 1993 and 1992, respectively. Other
investments are stated at quoted market prices, or unit values based on quoted
market values, at the close of business on December 31, 1993 and 1992,
respectively. Income from investments is recorded as earned.
The statement of changes in net assets available for plan benefits for the year
ended December 31, 1992 combines activity of the Government Fixed Income Fund
prior to July 1, 1992 and activity of
the Preferred Short-Term Government Fund after July 1, 1992. Likewise, activity
of the Short-Term Investment Fund before July 1, 1992 and activity of the
Preferred Money Market Fund after July 1, 1992 are combined. The investment
objectives of the funds combined are consistent.
Administrative expenses
Trustee fees and certain investment and administrative costs are
paid by Caterpillar Inc. (Company).
NOTE 3 - TRANSFERS BETWEEN PLANS:
In April 1991, transfers of assets occurred between the Caterpillar Inc.
Employees' Investment Plan Part II and the Tax Deferred Savings Plan (for
Eligible Employees of Caterpillar Inc.). The transfers reflect the cumulative
differences in net assets arising from changes in employee eligibility and
transfers of participating employees between the various companies sponsoring
the plans. Transfers between the plans are reported net on the statement of
changes in net assets available for plan benefits.
NOTE 4 - UNIT VALUES:
The Plan assigns units to participants directing investments to any of the
Preferred Group of Mutual Funds, the Caterpillar Common Stock Fund and the
Stable Principal Fund. The unit values assigned by the Plan reflect the current
values of the individual funds. Total units held (in thousands) by the Plan and
their respective unit values at each month end are shown on the accompanying
schedule on page 11.
NOTE 5 - MASTER TRUST:
Under a Master Trust agreement with The Northern Trust Company, Caterpillar
Inc.'s Employees' Investment Plan Part II, Solar Turbines Incorporated's Savings
and Investment Plan and the Tax Deferred Savings Plan (for Eligible Employees of
Caterpillar Inc.) pool their investments in the Caterpillar Inc. 401(K) Master
Trust in exchange for a percentage of participation in the Trust.
Effective July 1992, the Master Trust began investing in the Preferred Group of
Mutual Funds which are sponsored by Caterpillar Investment Management Ltd.
(CIML), a wholly-owned subsidiary of the Company. The Preferred Group of Mutual
Funds comprise the following:
Preferred Short-Term Government Fund
Preferred Money Market Fund
Preferred Value Fund
Preferred International Fund
Preferred Growth Fund
Preferred Asset Allocation Fund
Preferred Fixed Income Fund
CIML manages the Preferred Short-Term Government Fund. All other funds are
managed by unrelated investment managers. Caterpillar Securities, Inc. a
wholly-owned subsidiary of CIML, distributes the shares of the mutual funds to
the Master Trust.
The percentage of the Plan's participation in the Master Trust was determined
based on the December 31, 1993 and 1992 market values of net assets, as
accumulated by the Trustee for the investment funds of each plan. At December
31, 1993 and 1992, the Plan's pro rata interest in the quoted market values of
net assets of each of the funds of the Master Trust was as follows:
December 31,
--------------
1993 1992
----- -----
Caterpillar Inc. Common Stock Fund 11.15% 23.85%
Guaranteed Investment Contract Fund 25.80% 27.63%
Stable Principal Fund 28.93%
Preferred Short-Term Government Fund 21.54% 27.51%
Preferred Money Market Fund 19.94% 21.93%
Preferred Value Fund 19.30% 18.61%
Preferred International Fund 13.53% 14.65%
Preferred Growth Fund 18.00% 17.20%
Preferred Asset Allocation Fund 12.94% 14.71%
Preferred Fixed Income Fund 14.39% 12.75%
Loan Fund 23.85% 22.89%
The net investment gain or loss of the Master Trust is reflected in the
financial statements of the Plan based on the actual earnings of each investment
fund. Refer to pages 12 and 13 for an analyses of the net assets and changes in
net assets of the investments of the Master Trust as of December 31, 1993.
Effective September 1, 1993, the Employees' Investment Plan was amended to allow
retirees or those participants eligible to retire to transfer funds from Part I
of the Employees' Investment Plan to investment funds within the Master Trust.
CATERPILLAR INC. - TAX DEFERRED SAVINGS PLAN
--------------------------------------------
NOTE 4 - UNIT VALUES
--------------------
DECEMBER 31, 1993
-----------------
(units in 000's)
----------------
January February March April May June July August September October November December
------- -------- ----- ----- --- ---- ---- ------ --------- ------- -------- --------
CATERPILLAR COMMON
STOCK FUND:
Units 630 630 621 588 575 570 567 556 571 549 565 578
Unit value 10.43 10.76 10.96 12.73 13.15 13.72 14.07 15.00 14.44 16.58 15.51 16.15
STABLE PRINCIPAL FUND:
Units 875 906 958 1,003 1,030 1,078 1,115 1,139 1,166 1,183 1,180 2,230
Unit value 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00
PREFERRED GROUP OF
MUTUAL FUNDS:-
Money Market:
Units 3,421 3,311 3,421 3,483 3,722 3,830 4,034 3,809 3,860 3,775 3,781 4,075
Unit value 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00
Short-Term
Government:
Units 271 257 262 265 279 280 279 283 283 284 283 292
Unit value 9.99 10.05 10.04 10.09 10.04 10.08 10.07 10.13 10.13 10.13 10.08 10.06
Value:
Units 1,311 1,322 1,337 1,351 1,361 1,374 1,385 1,380 1,388 1,393 1,396 1,374
Unit value 10.96 10.94 11.39 11.14 11.47 11.52 11.36 11.96 11.80 11.83 11.83 11.56
Growth:
Units 1,019 1,054 1,080 1,105 1,085 1,106 1,125 1,115 1,139 1,178 1,218 1,322
Unit value 12.03 11.47 11.98 11.55 12.34 12.42 12.35 13.09 13.46 13.61 13.19 13.82
International:
Units 182 194 217 252 263 260 283 341 330 351 370 503
Unit value 8.52 8.68 9.24 9.61 9.71 9.59 9.91 10.52 10.24 10.74 10.73 11.75
Asset Allocation:
Units 108 115 124 129 143 152 158 162 162 167 172 213
Unit value 10.58 10.74 10.88 10.63 10.81 10.90 10.89 11.23 11.12 11.32 11.15 11.02
Fixed Income:
Units 45 50 57 60 73 75 77 98 94 97 111 172
Unit value 10.27 10.44 10.44 10.48 10.44 10.60 10.61 10.76 10.75 10.76 10.62 10.34
CATERPILLAR INC. - TAX DEFERRED SAVINGS PLAN
--------------------------------------------
NOTE 5 - MASTER TRUST - SUMMARY OF NET ASSETS
---------------------------------------------
DECEMBER 31, 1993
-----------------
(in 000's)
Caterpillar Guaranteed
Common Investment Stable
Stock Contract Principal
Fund Fund Fund
----------- ---------- ---------
Investments, stated principally at
quoted market values or unit values
based on quoted market values:
Caterpillar Inc. common stock,
5,162 units $79,404 $ $
Preferred Short-Term Government
Securities, 1,331 units
Provident National Assurance Com-
pany Investment Contract, 6.92%,
matures December 31, 1994 31,180
Prudential Asset Management Company
Investment Contract, 8.68%, matures
January 2, 1994 53,688
Stable Principal Fund, 4,073 units 36,820
Preferred Value Fund, 7,451 units --
Preferred International Fund, 3,417
units
Preferred Growth Fund, 6,893 units
Preferred Asset Allocation Fund,
1,440 units
Preferred Fixed Income Fund, 1,004
units
Invested cash 3,975 3,914
Participant loans ------- ------- -------
Total investments $83,379 $84,868 $40,734
======= ======= =======
Preferred Group of Mutual Funds
-------------------------------------------------------------------------------------------
Short-
Term Money Asset Fixed Loan
Government Market Value International Growth Allocation Income Fund Total
---------- ------ ------- ------------- ------- ---------- ------- ------- --------
Investments, stated principally at
quoted market values or unit values
based on quoted market values:
Caterpillar Inc. common stock,
5,162 units $ $ $ $ $ $ $ $ $ 79,404
Preferred Short-Term Government
Securities, 1,331 units 13,247 13,247
Provident National Assurance Com-
pany Investment Contract, 6.92%,
matures December 31, 1994 31,180
Prudential Asset Management Company
Investment Contract, 8.68%, matures
January 2, 1994 53,688
Stable Principal Fund, 4,073 units 36,820
Preferred Value Fund, 7,451 units 85,180 85,180
Preferred International Fund, 3,417
units 39,601 39,601
Preferred Growth Fund, 6,893 units 93,662 93,662
Preferred Asset Allocation Fund,
1,440 units 15,572 15,572
Preferred Fixed Income Fund, 1,004
units 10,188 10,188
Invested cash 138 19,727 954 548 1,603 292 195 8 31,354
Participant loans 11,862 11,862
------- ------- ------- ------- ------- ------- ------- ------- --------
Total investments $13,385 $19,727 $86,134 $40,149 $95,265 $15,864 $10,383 $11,870 $501,758
======= ======= ======= ======= ======= ======= ======= ======= ========
CATERPILLAR INC. - TAX DEFERRED SAVINGS PLAN
NOTE 5 - MASTER TRUST - SUMMARY OF CHANGES IN NET ASSETS
FOR THE YEAR ENDED DECEMBER 31, 1993
(in 000's)
Caterpillar Guaranteed
Common Investment Stable
Stock Contract Principal
Fund Fund Fund
----------- ---------- ---------
Investment income $ 17,551 $ 6,511 $ 1,946
Change in unrealized appreciation
of investments 576 (75)
-------- -------- -------
Net investment gain 18,127 6,511 1,871
-------- -------- -------
Contributions from all plans 3,358 662 11,285
-------- -------- -------
Withdrawals from all plans (2,670) (4,102) (1,988)
-------- -------- -------
Transfers from EIP I (Note 5) 74,749
-------- -------- -------
Net transfers for all plans (35,251) (32,739) 28,973
-------- -------- -------
Loan repayments 330 1,418
New loans (1,814) (1,664) (825)
-------- -------- -------
Net loan activity (1,484) (1,664) 593
-------- -------- -------
Increase (decrease) in assets for
the year 56,829 (31,332) 40,734
Net assets:
Beginning of year 26,550 116,200
-------- -------- -------
End of year $ 83,379 $ 84,868 $40,734
======== ======== =======
Preferred Group of Mutual Funds
-------------------------------------------------------------------------------------------
Short-
Term Money Asset Fixed Loan
Government Market Value International Growth Allocation Income Fund Total
---------- ------- ------- ------------- ------- ---------- ------- ------- --------
Investment income $ 633 $ 456 $ 3,696 $ 588 $ 2,231 $ 744 $ 623 $ $ 34,979
Change in unrealized appreciation
of investments 108 3,761 6,946 9,587 290 (190) 21,003
------- ------- ------- ------- ------- ------- ------- ------- --------
Net investment gain 741 456 7,457 7,534 11,818 1,034 433 55,982
------- ------- ------- ------- ------- ------- ------- ------- --------
Contributions from all plans 1,390 1,932 8,485 3,642 14,192 2,510 1,413 48,869
------- ------- ------- ------- ------- ------- ------- ------- --------
Withdrawals from all plans (429) (791) (2,345) (311) (1,559) (403) (73) (174) (14,845)
------- ------- ------- ------- ------- ------- ------- ------- --------
Transfers from EIP I (Note 5) 898 75,647
------- ------- ------- ------- ------- ------- ------- ------- --------
Net transfers for all plans 1,802 1,877 (2,712) 19,668 7,525 4,873 5,984
------- ------- ------- ------- ------- ------- ------- ------- --------
Loan repayments 121 254 950 375 1,552 191 122 (5,313)
New loans (184) (467) (1,342) (468) (1,757) (160) (154) 8,835
------- ------- ------- ------- ------- ------- ------- ------- --------
Net loan activity (63) (213) (392) (93) (205) 31 (32) 3,522
------- ------- ------- ------- ------- ------- ------- ------- --------
Increase (decrease) in assets for
the year 3,441 4,159 10,493 30,440 31,771 8,045 7,725 3,348 165,653
Net assets:
Beginning of year 9,944 15,568 75,641 9,709 63,494 7,819 2,658 8,522 336,105
------- ------- ------- ------- ------- ------- ------- ------- --------
End of year $13,385 $19,727 $86,134 $40,149 $95,265 $15,864 $10,383 $11,870 $501,758
======= ======= ======= ======= ======= ======= ======= ======= ========
EXHIBIT C
---------
CONSENT OF INDEPENDENT ACCOUNTANTS
We hereby consent to the incorporation by reference in the Prospectus
constituting part of the Registration Statement on Form S-8 (No. 2-90123, as
amended) of Caterpillar Inc. of our report dated January 21, 1994 related to the
financial statements of Caterpillar Inc., appearing on page A-3 of the Appendix
to the Company's 1994 Annual Meeting Proxy Statement which is incorporated in
this Annual Report on Form 10-K. We also consent to the incorporation by
reference of our report on the Financial Statement Schedules listed in Item
14(a) of such Annual Report on Form 10-K.
We hereby consent to the incorporation by reference in the Prospectus
constituting part of the Registration Statement on Forms S-8 (No. 33-14116 and
No. 33-40598) of Caterpillar Inc. of our report dated January 21, 1994 related
to the financial statements of Caterpillar Inc., appearing on page A-3 of the
Appendix to the Company's 1994 Annual Meeting Proxy Statement which is
incorporated in this Annual Report on Form 10-K. We also consent to the
incorporation by reference of our report on the Financial Statement Schedules
listed in Item 14(a) of such Annual Report on Form 10-K.
We hereby consent to the incorporation by reference in the Prospectus
constituting part of the Registration Statement on Forms S-8 (No. 33-3718, as
amended, and No. 33-39280) of Caterpillar Inc. of our report dated January 21,
1994 related to the financial statements of Caterpillar Inc., appearing on page
A-3 of the Appendix to the Company's 1994 Annual Meeting Proxy Statement which
is incorporated in this Annual Report on Form 10-K and of our report dated
February 11, 1994 related to the financial statements of the Employees'
Investment Plan, appearing on page 1 of the Form 11-K Annual Report, which is
included in this Annual Report on Form 10-K as Exhibit 99(a). We also consent
to the incorporation by reference of our report on the Financial Statement
Schedules listed in Item 14(a) of this Form 10-K.
We hereby consent to the incorporation by reference in the Prospectus
constituting part of the Registration Statement on Forms S-8 (No. 2-97450, as
amended, and No. 33-37353) of Caterpillar Inc. of our report dated January 21,
1994 related to the financial statements of Caterpillar Inc., appearing on page
A-3 of the Appendix to the Company's 1994 Annual Meeting Proxy Statement which
is incorporated in this Annual Report on Form 10-K and of our report dated
February 11, 1994 related to the financial statements of the Savings and
Investment Plan, appearing on page 1 of the Form 11-K Annual Report, which is
included in this Annual Report on Form 10-K as Exhibit 99(c). We also consent
to the incorporation by reference of our report on the Financial Statement
Schedules listed in Item 14(a) of this Form 10-K.
We hereby consent to the incorporation by reference in the Prospectus
constituting part of the Registration Statement on Form S-8 (No. 33-8003) of
Caterpillar Inc. of our report dated January 21, 1994 related to the financial
statements of Caterpillar Inc., appearing on page A-3 of the Appendix to the
Company's 1994 Annual Meeting Proxy Statement which is incorporated in this
Annual Report on Form 10-K and of our report dated February 11, 1994 related to
the financial statements of the Tax Deferred Savings Plan, appearing on page 1
of the Form 11-K Annual Report, which is included in this Annual Report on Form
10-K as Exhibit 99(d). We also consent to the incorporation by reference of our
report on the Financial Statement Schedules listed in Item 14(a) of this Form
10-K.
We hereby consent to the incorporation by reference in the Prospectus
constituting part of the Registration Statement on Form S-3 (No. 33-46194) of
Caterpillar Inc. of our report dated January 21, 1994 related to the financial
statements of Caterpillar Inc., appearing on page A-3 of the Appendix to the
Company's 1994 Annual Meeting Proxy Statement which is incorporated in this
Annual Report on Form 10-K. We also consent to the incorporation by reference of
our report on the Financial Statement Schedules listed in Item 14(a) of this
Form 10-K.
[SIGNATURE] (Price Waterhouse)
PRICE WATERHOUSE
Peoria, Illinois
February 11, 1994