Caterpillar (CAT) Risk Factor Changes

We maintain a number of credit facilities to support general corporate purposes (facilities) and have issued debt securities to manage liquidity and fund operations (debt securities).

We are a significant user of steel and many other commodities required for the manufacture of our products.

The following is a cautionary discussion of risks, uncertainties and assumptions that we believe are material to our business.

not to exceed a certain leverage ratio (consolidated debt to consolidated net worth, calculated (1) on a monthly basis as the average of the leverage ratios determined on the last day of each of the six preceding cale…

condition if we are unable to fully offset the effect of these increased costs through price increases, productivity improvements, cost reduction programs or hedging programs.

statements.