Caterpillar Inc. provides its annual report for 2019 online at https://reports.caterpillar.com/ar/2019_Caterpillar_Annual_Report.pdf?_ga=2.65394990.1290072429.1602189017-719135913.1602189017 (Links to an external site.) (If you copy and paste this into your browser it will take you to the report.)
Q1. Go to the Table of Contents and click on Item 8. Consult the balance sheet. Did Long term debt increase or decrease? By how much?
Q2. Now find the Summary of Significant Accounting Policies in the notes to the financial statements. For this company, is it the first note? If not, what number is the note in which the summary is provided?
Q3. Were any new accounting standards implemented during this fiscal year?
Q4, What impact (if any) did they have on long term debt?
Q5. What impact (if any) is it estimated to have in the future?
Q6. Examine Note 14. Look at Note 18. Is the fair value (FV) of long term debt (LTD) greater than, less than, or equal to the book value?
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