CATERPILLAR INC | 2013 | FY | 3

Investments in unconsolidated affiliated companies
 
Combined financial information of the unconsolidated affiliated companies accounted for by the equity method (generally on a lag of 3 months or less) was as follows: 
 
Results of Operations of unconsolidated affiliated companies:
 
 
 
 
 
 
 
 
Years ended December 31,
(Millions of dollars)
 
2013
 
2012
 
2011
Results of Operations:
 
 

 
 

 
 

Sales
 
$
1,336

 
$
1,084

 
$
966

Cost of sales
 
1,048

 
872

 
797

Gross profit
 
$
288

 
$
212

 
$
169

 
 
 
 
 
 
 
Profit (loss)
 
$
(28
)
 
$
28

 
$
(46
)
 
 
 
 
 
 
 
  
Financial Position of unconsolidated affiliated companies:
 
 
 
 
 
 
 
 
December 31,
(Millions of dollars)
 
2013
 
2012
 
2011
Financial Position:
 
 

 
 

 
 

Assets:
 
 

 
 

 
 

Current assets
 
$
683

 
$
715

 
$
345

Property, plant and equipment–net
 
710

 
529

 
200

Other assets
 
608

 
616

 
9

 
 
2,001

 
1,860

 
554

Liabilities:
 
 

 
 

 
 

Current liabilities
 
437

 
443

 
220

Long-term debt due after one year
 
900

 
708

 
72

Other liabilities
 
262

 
170

 
17

 
 
1,599

 
1,321

 
309

Equity
 
$
402

 
$
539

 
$
245

 
 
 
 
 
 
 

Caterpillar’s investments in unconsolidated affiliated companies:
 
 
 
 
 
 
 
 
December 31,
(Millions of dollars)
 
2013
 
2012
 
2011
Investments in equity method companies
 
$
262

 
$
256

 
$
111

Plus: Investments in cost method companies
 
10

 
16

 
22

Total investments in unconsolidated affiliated companies
 
$
272

 
$
272

 
$
133

 
 
 
 
 
 
 
 
The increase in the 2012 financial position and equity investments amounts from 2011 relate to the sale of a majority interest in Caterpillar's third party logistics business, which occurred on July 31, 2012. Under the terms of the agreement, Caterpillar retained a 35 percent equity interest. The increase is also related to the acquisition of an equity interest in Black Horse LLC, which occurred on December 5, 2012.

us-gaap:EquityMethodInvestmentsDisclosureTextBlock