$CMI

CUMMINS INC

CIK:0000026172|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Statement of Comprehensive Income [Abstract]
CONSOLIDATED NET INCOME	$ 968	$ 928	$ 1,648	$ 1,778
Other comprehensive income (loss), net of tax (Note 12)
Change in pension and other postretirement defined benefit plans	8	7	(7)	(20)
Foreign currency translation adjustments	23	197	(86)	314
Unrealized gain (loss) on derivatives	8	(3)	5	(12)
Total other comprehensive income (loss), net of tax	39	201	(88)	282
COMPREHENSIVE INCOME	1,007	1,129	1,560	2,060
Less: Comprehensive income attributable to noncontrolling interests	38	40	36	68
COMPREHENSIVE INCOME ATTRIBUTABLE TO CUMMINS INC.	$ 969	$ 1,089	$ 1,524	$ 1,992

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES
Consolidated net income	$ 1,648	$ 1,778
Adjustments to reconcile consolidated net income to net cash provided by operating activities
Depreciation and amortization	563	548
Deferred income taxes	15	(138)
Equity in income of investees, net of dividends	(116)	(88)
Pension and OPEB expense (Note 3)	37	39
Pension contributions and OPEB payments (Note 3)	(28)	(26)
Changes in current assets and liabilities, net of acquisitions and divestiture
Accounts and notes receivable	(738)	(643)
Inventories	(612)	(436)
Other current assets	(37)	(172)
Accounts payable	860	148
Accrued expenses	150	(244)
Other, net	66	16
Net cash provided by operating activities	1,808	782
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures	(438)	(393)
Investments in marketable securities—acquisitions	(633)	(783)
Investments in marketable securities—liquidations (Note 6)	641	636
Other, net	1	(75)
Net cash used in investing activities	(429)	(615)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from borrowings	320	2,146
Net payments of commercial paper	(5)	(906)
Payments on borrowings and finance lease obligations	(248)	(210)
Dividend payments on common stock	(552)	(502)
Repurchases of common stock	(468)	0
Payments for purchase of redeemable noncontrolling interests	0	(55)
Other, net	(88)	(49)
Net cash (used in) provided by financing activities	(1,041)	424
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	(4)	57
Net increase in cash and cash equivalents	334	648
Cash and cash equivalents at beginning of year	2,845	1,671
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$ 3,179	$ 2,319

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Current assets
Cash and cash equivalents	$ 3,179	$ 2,845
Marketable securities (Note 6)	745	764
Total cash, cash equivalents and marketable securities	3,924	3,609
Accounts and notes receivable, net	6,585	5,818
Inventories (Note 7)	6,397	5,822
Prepaid expenses and other current assets	1,528	1,676
Total current assets	18,434	16,925
Long-term assets
Property, plant and equipment	13,236	12,919
Accumulated depreciation	(6,223)	(5,961)
Property, plant and equipment, net	7,013	6,958
Investments and advances related to equity method investees	2,265	2,133
Goodwill	2,222	2,224
Other intangible assets, net	2,168	2,167
Pension assets	1,008	1,033
Other assets (Note 8)	2,520	2,552
Total assets	35,630	33,992
Current liabilities
Accounts payable (principally trade)	4,654	3,800
Loans payable (Note 9)	459	313
Commercial paper (Note 9)	348	353
Current maturities of long-term debt (Note 9)	151	94
Accrued compensation, benefits and retirement costs	812	825
Current portion of accrued product warranty (Note 10)	658	693
Current portion of deferred revenue (Note 2)	1,592	1,606
Other accrued expenses (Note 8)	1,999	1,926
Total current liabilities	10,673	9,610
Long-term liabilities
Long-term debt (Note 9)	6,737	6,792
Deferred revenue (Note 2)	1,066	1,054
Other liabilities (Note 8)	3,248	3,128
Total liabilities	21,724	20,584
Commitments and contingencies (Note 11)
Cummins Inc. shareholders’ equity
Common stock, $2.50 par value, 500 shares authorized, 222.5 and 222.5 shares issued	2,626	2,673
Retained earnings	23,650	22,616
Treasury stock, at cost, 84.9 and 84.4 shares	(11,089)	(10,662)
Accumulated other comprehensive loss (Note 12)	(2,340)	(2,278)
Total Cummins Inc. shareholders’ equity	12,847	12,349
Noncontrolling interests	1,059	1,059
Total equity	13,906	13,408
Total liabilities and equity	$ 35,630	$ 33,992