Caterpillar CEO compensation falls 54 percent

OMAHA, Neb. -- The Associated Press has found that Caterpillar Inc. last year gave Chairman and CEO Jim Owens less than half the compensation he received in 2008 as the world's biggest maker of mining and construction equipment endured the recession and eliminated thousands of jobs.

Owens received compensation worth $6.8 million in 2009 -- 54 percent less than 2008's $14.6 million compensation.

The AP calculation is based on a regulatory filing. It aims to isolate the value company boards place on CEOs' total compensation package. It includes salary, bonus, incentives, perks and the estimated value of stock options and awards.