DEERFIELD, Ill. (WMBD) — Caterpillar gained billions of dollars to close out 2021.

Cat reported sales and revenues for the fourth quarter of 2021 were $13.8 billion, a 23% increase compared to the fourth quarter of 2020. Caterpillar’s operating profit margin for the fourth quarter of 2021 was 11.7%.

Profits per share more than doubled at $3.9. The adjusted profit per share was at $2.69. The fourth quarter of 2021 adjusted profit per share showed a lower than the expected tax rate.

The full-year sales and revenue in 2021 were $51 billion. The increase is 22% more compared to $41.7 billion in 2020. The increase showed higher end-user demand for equipment and service, and an impact from changes in dealer inventories. Dealers decreased their inventories by $2.9 billion in 2020 while staying almost flat in 2021.

The operating profit margin for 2021 was 13.5%, and the full-year profit was $11.83. Adjusted profit per share for the full year ended at $10.81.

Caterpillar’s enterprise operating cash flow for the full year of 2021 was $7.2 billion. During the year, Caterpillar repurchased $2.7 billion of the company’s common stock and paid dividends of $2.3 billion. The liquidity ended the year of 2021 with an enterprise cash balance of $9.3 billion.

I’m proud of our global team’s continued resilience in what proved to be I’m proud of our global team’s continued resilience in what proved to be a challenging and dynamic operating environment. We delivered adjusted operating profit margins and ME&T free cash flows consistent with our long term targets established during our 2019 Investor Day. Amid ongoing supply chain constraints, our team continues to execute our strategy for long-term profitable growth while striving to meet customer demand.”

Chairman and CEO Jim Umpleby.