February 18, 2015 / 1:32 AM / 4 years ago

Caterpillar reports SEC investigation of cash movement

Caterpillar CEO Douglas Oberhelman is pictured on the floor of the New York Stock Exchange in New York December 22, 2014. REUTERS/Carlo Allegri

(Reuters) - The movement of cash among Caterpillar Inc’s U.S. and foreign subsidiaries is being investigated by U.S. authorities, the company said in a regulatory filing on Tuesday.

The heavy machinery maker said it had received a grand jury subpoena from a U.S. District Court on Jan. 8 and is cooperating with the investigation. (bit.ly/1JounJM)

The company believes that the investigation would not have a material effect on its financial position.

Caterpillar also said in its latest filing that it had made a presentation to the SEC on Caterpillar SARL, on which the regulatory authority is conducting an investigation.

The company is also in talks with the SEC about a possible resolution of another federal investigation, involving Caterpillar’s Progress Rail subsidiary.

The company believes that “a loss is probable” as a result of the Progress Rail situation but that the company did not expect the investigation to have a major negative effect on its finances.

Caterpillar was not immediately available for comment after regular business hours.

Reporting by Sudarshan Varadhan in Bengaluru; Editing by Lisa Shumaker

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