Asked why the physical inventory at Siwei wasn't checked before the deal closed, Caterpillar Chief Financial Officer Brad Halverson said in an interview that such a check wouldn't normally be done as part of the process of evaluating a company. "We did our normal due diligence process," he said.
For all of 2012, the company's profits rose 15 percent to $5.68 billion, or $8.48 per share, up from $4.93 billion, or $7.40 per share, in 2011. Revenue rose 10 percent to $65.88 billion, from $60.14 billion.
Shares of the Peoria, Ill.-based company rose $1.87, or 2 percent, to close at $97.45 Monday.
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