卡特彼勒 2025年度报告

FORM 11-K (MarkOne)[X]ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF1934For the fiscal year ended December 31, 2025OR[]TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACTOF 1934For the transition period from __________ to __________. Commission File No. 1-768 CATERPILLAR INC.TAX DEFERRED RETIREMENT PLAN(Full title of the plan and the address of the plan, if different from that of the issuer named below) CATERPILLAR INC.5205 N. O'Connor Boulevard, Suite 100, Irving, Texas 75039(Name of issuer of the securities held pursuant to the plan and the address of its principal executive office) Caterpillar Inc.Tax Deferred Retirement Plan Financial Statements and Supplemental ScheduleDecember 31, 2025 and 2024 Page(s) Report of Independent Registered Public Accounting FirmFinancial Statements Statements of Net Assets Available for Benefits, December 31, 2025 and 20241Statement of Changes in Net Assets Available for Benefits, Year Ended December 31, 20252Notes to Financial Statements, as of December 31, 2025 and 2024 and for the Year EndedDecember 31, 20253 Supplemental Schedule Schedule H, Line 4i - Schedule of Assets (Held at End of Year), December 31, 202516 Exhibit Index 23.1 - Consent of Independent Registered Public Accounting Firm Signatures Note: Other schedules required by 29 CFR 2520.103-10 of the Department of Labor’s Rules andRegulations for Reporting and Disclosure under the Employee Retirement Income SecurityAct of 1974 have been omitted because they are not applicable. Report of Independent Registered Public Accounting Firm To the Administrator and Plan Participants ofCaterpillar Inc. Tax Deferred Retirement Plan Opinion on the Financial Statements We have audited the accompanying statements of net assets available for benefits of Caterpillar Inc. TaxDeferred Retirement Plan (the “Plan”) as of December 31, 2025 and 2024 and the related statement ofchanges in net assets available for benefits for the year ended December 31, 2025, including the related notes(collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, inall material respects, the net assets available for benefits of the Plan as of December 31, 2025 and 2024, andthe changes in net assets available for benefits for the year ended December 31, 2025 in conformity withaccounting principles generally accepted in the United States of America. Basis for Opinion These financial statements are the responsibility of the Plan’s management. Our responsibility is to express anopinion on the Plan’s financial statements based on our audits. We are a public accounting firm registered withthe Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independentwith respect to the Plan in accordance with the U.S. federal securities laws and the applicable rules andregulations of the Securities and Exchange Commission and the PCAOB. We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Thosestandards require that we plan and perform the audit to obtain reasonable assurance about whether thefinancial statements are free of material misstatement, whether due to error or fraud. Our audits included performing procedures to assess the risks of material misstatement of the financialstatements, whether due to error or fraud, and performing procedures that respond to those risks. Suchprocedures included examining, on a test basis, evidence regarding the amounts and disclosures in thefinancial statements. Our audits also included evaluating the accounting principles used and significantestimates made by management, as well as evaluating the overall presentation of the financial statements. Webelieve that our audits provide a reasonable basis for our opinion. Supplemental Information The supplemental Schedule H, Line 4i – Schedule of Assets (Held at End of Year) as of December 31, 2025has been subjected to audit procedures performed in conjunction with the audit of the Plan’s financialstatements. The supplemental schedule is the responsibility of the Plan’s management. Our audit proceduresincluded determining whether the supplemental schedule reconciles to the financial statements or theunderlying accounting and other records, as applicable, and performing procedures to test the completenessand accuracy of the information presented in the supplemental schedule. In forming our opinion on thesupplemental schedule, we evaluated whether the supplemental schedule, including its form and content, ispresented in conformity with the Department of Labor’s Rules and Regulations for Reporting and Disclosureunder the Employee Retirement Income Security Act of 1974. In our opinion, the supplemental schedule isfairly stated, in all material respects, in relation to the financial statements as a whole. /s/ PricewaterhouseCoopers LLP Dallas, TexasJune25, 2026 We have served as t