Market Summary
USD230.89+1.84
Delayedas of 27 Sep 2023, 10:28 am0.80%
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Price Action
52 Week Range
198.81265.28
(Low)(High)
Last 7 days
-2.4%
Last 30 days
-1.3%
Last 90 days
-4.2%
Trailing 12 Months
14.4%
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Net sales
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Latest Insider Trading transactions for CMI
Filter Transactions| Datesorted ascending | Name | Buy/Sell | $ Value | Avg. Price | # Shares | Title |
|---|---|---|---|---|---|---|
2023-08-01 | Embree Tracy A | sold (taxes) | -77,642 | 264 | -293 | president - distribution |
2023-05-09 | Nelson Kimberly A | acquired | - | - | 757 | - |
2023-05-09 | Di Leo Allen Bruno V | acquired | - | - | 757 | - |
2023-05-09 | DOBBS STEPHEN B | acquired | - | - | 757 | - |
2023-05-09 | Bernhard Robert J | acquired | - | - | 757 | - |
2023-05-09 | Harris Carla A | acquired | - | - | 757 | - |
2023-05-09 | NELSON GEORGIA R | acquired | - | - | 757 | - |
2023-05-09 | Belske Gary L | acquired | - | - | 757 | - |
2023-05-09 | Quintos Karen H | acquired | - | - | 757 | - |
2023-05-09 | MILLER WILLIAM I | acquired | - | - | 757 | - |
Which funds bought or sold CMI recently?
View All Details| Datesorted ascending | Fund Name | Type | % Chg | $ Change | $ Held | % Portfolio |
|---|---|---|---|---|---|---|
2023-09-21 | Baystate Wealth Management LLC | reduced | -11.95 | -3,551 | 34,505 | -% |
2023-09-20 | BARCLAYS PLC | added | 115 | 80,066,000 | 146,295,000 | 0.09% |
2023-09-19 | BIRMINGHAM CAPITAL MANAGEMENT CO INC/AL | reduced | -2.75 | -9,972 | 5,205,970 | 2.18% |
2023-09-18 | WASHINGTON CAPITAL MANAGEMENT, INC | sold off | -100 | -525,536 | - | -% |
2023-09-18 | CAPE ANN SAVINGS BANK | added | 9.29 | 89,137 | 822,021 | 0.55% |
2023-09-12 | Farther Finance Advisors, LLC | reduced | -18.89 | -19,497 | 96,838 | 0.02% |
2023-09-08 | TUCKER ASSET MANAGEMENT LLC | unchanged | - | 379 | 13,228 | -% |
2023-09-07 | ST GERMAIN D J CO INC | new | - | 19,125,200 | 19,125,200 | 1.01% |
2023-09-07 | JAG CAPITAL MANAGEMENT, LLC | added | 2.55 | 125,781 | 2,522,940 | 0.29% |
2023-09-05 | Covenant Partners, LLC | reduced | -4.47 | -5,338 | 267,224 | 0.10% |
Latest Funds Activity
Calls
Puts
Net Call Options
No. of Funds
CMI Alerts
Schedule 13G FIlings of Cummins
| Date Filed | Name of Filer | Percent of Class | No. of Shares | Form Type | |
|---|---|---|---|---|---|
| Jul 10, 2023 | vanguard group inc | 11.09% | 15,705,485 | SC 13G/A | |
| Feb 09, 2023 | vanguard group inc | 9.36% | 13,205,088 | SC 13G/A | |
| Feb 07, 2023 | blackrock inc. | 8.2% | 11,572,098 | SC 13G/A | |
| Feb 09, 2022 | vanguard group inc | 9.03% | 12,921,906 | SC 13G/A | |
| Feb 01, 2022 | blackrock inc. | 8.2% | 11,754,383 | SC 13G/A | |
| Feb 10, 2021 | vanguard group inc | 8.77% | 12,979,070 | SC 13G/A | |
| Jan 29, 2021 | blackrock inc. | 8.8% | 13,031,093 | SC 13G/A | |
| Feb 13, 2020 | state street corp | 4.64% | 7,102,674 | SC 13G/A | |
| Feb 12, 2020 | vanguard group inc | 8.21% | 12,579,161 | SC 13G/A | |
| Feb 05, 2020 | blackrock inc. | 8.1% | 12,355,555 | SC 13G/A |
Recent SEC filings of Cummins
View All Filings| Date Filed | Form Type | Document | |
|---|---|---|---|
| Sep 18, 2023 | 144 | Notice of Insider Sale Intent | |
| Aug 29, 2023 | 8-K | Current Report | |
| Aug 15, 2023 | 4 | Insider Trading | |
| Aug 03, 2023 | 8-K | Current Report | |
| Aug 03, 2023 | 10-Q | Quarterly Report | |
| Jul 12, 2023 | 8-K | Current Report | |
| Jul 10, 2023 | SC 13G/A | Major Ownership Report |
CMI Fair Value
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Peers (Alternatives to Cummins)
View All Peers In Detail| Name | Mkt Capsorted ascending | Revenue | Price %, 1M | Returns, 1Y | P/E | P/S | Rev 1-Yr | Inc 1-Yr |
|---|---|---|---|---|---|---|---|---|
| LARGE-CAP | ||||||||
CAT | 138.2B | 64.8B | -1.12% | 66.85% | 16.54 | 2.13 | 19.88% | 23.71% |
DE | 110.4B | 61.4B | -2.71% | 14.64% | 10.99 | 1.8 | 26.89% | 62.82% |
CMI | 32.5B | 32.2B | -1.29% | 14.44% | 12.5 | 1.01 | 29.87% | 25.35% |
DOV | 19.6B | 8.5B | -2.01% | 19.36% | 19.16 | 2.31 | 3.15% | -10.67% |
TTC | 8.4B | 4.7B | -18.41% | -6.18% | 22.35 | 1.78 | 10.19% | -2.33% |
| MID-CAP | ||||||||
ALG | 2.1B | 1.6B | 2.07% | 43.00% | 16.66 | 1.29 | 12.15% | 49.02% |
LECO | 12.0B | - | -4.52% | 41.08% | 25.57 | 38.14 | -70.09% | 32.66% |
WTS | 5.8B | 2.0B | -6.23% | 39.23% | 21.48 | 2.89 | 3.93% | 27.15% |
TEX | 3.8B | 5.0B | 0.68% | 93.38% | 8.59 | 0.77 | 22.48% | 91.50% |
KMT | 2.0B | 2.1B | -5.95% | 20.26% | 16.68 | 0.95 | 3.27% | -18.09% |
MWA | 1.9B | 1.3B | -9.67% | 24.62% | 25.77 | 1.49 | 7.77% | -14.22% |
| SMALL-CAP | ||||||||
ARTW | - | 9.6M | -12.08% | 26.62% | - | - | -64.00% | 103.64% |
CMCO | 980.1M | 951.4M | -7.15% | 33.38% | 19.87 | 1.03 | 4.17% | 8.83% |
HY | 709.7M | 3.9B | -6.83% | 67.02% | 20.16 | 0.18 | 18.61% | 115.65% |
MTW | 507.1M | 2.2B | -6.46% | 78.20% | -4.83 | 0.23 | 17.70% | -829.86% |
Cummins News
Returns for CMI
Cumulative Returns on CMI
8.3%
10-Year Cumulative Returns
12.4%
7-Year Cumulative Returns
12.0%
5-Year Cumulative Returns
5.3%
3-Year Cumulative Returns
Risks for CMI
What is the probability of a big loss on CMI?
46.5%
Probability that Cummins stock will be more than 20% underwater in next one year
23.5%
Probability that Cummins stock will be more than 30% underwater in next one year.
0%
Probability that Cummins stock will be more than 40% underwater in next one year.
*Calculated based on probability distribution of losses observed in actual data in the last 5 years.
How does CMI drawdown profile look like?
Y-axis is the maximum loss one would have experienced if Cummins was unfortunately bought at previous high price.
Drawdowns
Financials for Cummins
Income Statement (Last 12 Months)(In Millions)
| Income Statement (Last 12 Months) | (In Millions) | |||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Description | (%) Q/Q | 2023Q2 | 2023Q1 | 2022Q4 | 2022Q3 | 2022Q2 | 2022Q1 | 2021Q4 | 2021Q3 | 2021Q2 | 2021Q1 | 2020Q4 | 2020Q3 | 2020Q2 | 2020Q1 | 2019Q4 | 2019Q3 | 2019Q2 | 2019Q1 | 2018Q4 | 2018Q3 | 2018Q2 |
| Revenue | 6.8% | 32,194 | 30,142 | 28,074 | 26,154 | 24,789 | 24,314 | 24,021 | 24,001 | 23,151 | 20,892 | 19,811 | 19,559 | 20,209 | 22,578 | 23,571 | 24,119 | 24,294 | 24,205 | 23,771 | 23,121 | 22,463 |
| Cost Of Revenue | 7.1% | 24,556 | 22,926 | 21,355 | 19,937 | 18,800 | 18,573 | 18,326 | 18,262 | 17,477 | 15,806 | 14,917 | 14,713 | 15,218 | 16,836 | 17,591 | 17,906 | 18,024 | 18,136 | 18,034 | 17,554 | 17,106 |
| Gross Profit | 5.8% | 7,638 | 7,216 | 6,719 | 6,217 | 5,989 | 5,741 | 5,695 | 5,739 | 5,674 | 5,086 | 4,894 | 4,846 | 4,991 | 5,742 | 5,980 | 6,213 | 6,270 | 6,069 | 5,737 | 5,567 | 5,357 |
| S&GA Expenses | 8.9% | 3,076 | 2,825 | 2,687 | 2,574 | 2,437 | 2,415 | 2,374 | 2,321 | 2,283 | 2,153 | 2,125 | 2,181 | 2,248 | 2,407 | 2,454 | 2,465 | 2,469 | 2,453 | 2,437 | 2,437 | 2,466 |
| R&D Expenses | 6.4% | 1,415 | 1,330 | 1,278 | 1,233 | 1,151 | 1,128 | 1,090 | 1,057 | 1,015 | 928 | 906 | 922 | 940 | 1,002 | 1,001 | 974 | 961 | 929 | 902 | 866 | 850 |
| EBITDA | -100.0% | - | 3,957 | 3,802 | - | 3,509 | 3,504 | 3,524 | - | - | 3,118 | 3,111 | 3,605 | 3,618 | 3,617 | 3,615 | 3,520 | 3,494 | 3,489 | 3,478 | 3,052 | 3,041 |
| EBITDA Margin | -100.0% | - | 0.13* | 0.14* | - | 0.14* | 0.14* | 0.15* | - | - | 0.15* | 0.16* | 0.18* | 0.18* | 0.16* | 0.15* | 0.15* | 0.14* | 0.14* | 0.15* | 0.13* | 0.14* |
| Interest Expenses | 24.2% | 334 | 269 | 199 | 138 | 105 | 100 | 111 | 114 | 111 | 105 | 100 | 93.00 | 94.00 | 100 | 109 | 119 | 123 | 122 | 114 | 106 | 94.00 |
| Earnings Before Taxes | - | - | - | 2,819 | - | - | - | 2,751 | - | - | - | 2,338 | - | - | - | 2,834 | - | - | - | 2,753 | - | - |
| EBT Margin | -100.0% | - | 0.09* | 0.10* | - | 0.11* | 0.11* | 0.11* | - | - | 0.11* | 0.12* | 0.14* | 0.14* | 0.13* | 0.12* | 0.11* | 0.11* | 0.11* | 0.12* | 0.10* | 0.10* |
| Net Income | 1.2% | 2,596 | 2,566 | 2,183 | 1,939 | 2,071 | 1,976 | 2,164 | 2,265 | 2,228 | 1,885 | 1,802 | 1,601 | 1,719 | 2,125 | 2,260 | 2,539 | 2,609 | 2,479 | 2,141 | 1,288 | 1,049 |
| Net Income Margin | -100.0% | - | 0.09* | 0.08* | 0.07* | 0.08* | 0.08* | 0.09* | 0.09* | 0.10* | 0.09* | 0.09* | 0.08* | 0.08* | 0.09* | 0.10* | 0.11* | 0.11* | 0.10* | 0.09* | 0.06* | 0.05* |
| Free Cashflow | -100.0% | - | 1,288 | 1,046 | 1,052 | 1,291 | 1,330 | 1,522 | 2,044 | 2,732 | 2,142 | 2,194 | 1,845 | 1,708 | 2,482 | 2,481 | 2,590 | 2,360 | 2,161 | 1,669 | 1,609 | 1,414 |
Balance Sheet(In Millions)
| Balance Sheet | (In Millions) | |||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Description | (%) Q/Q | 2023Q2 | 2023Q1 | 2022Q4 | 2022Q3 | 2022Q2 | 2022Q1 | 2021Q4 | 2021Q3 | 2021Q2 | 2021Q1 | 2020Q4 | 2020Q3 | 2020Q2 | 2020Q1 | 2019Q4 | 2019Q3 | 2019Q2 | 2019Q1 | 2018Q4 | 2018Q3 | 2018Q2 |
| Assets | 1.0% | 31,735 | 31,433 | 30,299 | 29,769 | 24,477 | 24,122 | 23,710 | 23,063 | 22,608 | 22,962 | 22,624 | 21,568 | 20,314 | 20,076 | 19,737 | 20,346 | 20,254 | 19,846 | 19,062 | 18,992 | 18,915 |
| Current Assets | 0.3% | 15,410 | 15,368 | 14,451 | 14,398 | 12,762 | 12,596 | 12,309 | 12,320 | 11,931 | 12,122 | 11,897 | 11,062 | 9,834 | 9,790 | 9,387 | 10,228 | 10,450 | 10,091 | 9,818 | 9,863 | 9,835 |
| Cash Equivalents | -9.0% | 1,802 | 1,980 | 2,101 | 2,499 | 2,462 | 2,276 | 2,592 | 2,588 | 2,481 | 2,958 | 3,401 | 2,967 | 1,751 | 1,691 | 1,129 | 1,560 | 1,397 | 1,328 | 1,303 | 1,222 | 1,318 |
| Inventory | 2.5% | 6,026 | 5,878 | 5,603 | 5,543 | 4,765 | 4,586 | 4,355 | 4,322 | 4,076 | 3,753 | 3,425 | 3,470 | 3,655 | 3,579 | 3,486 | 3,821 | 3,896 | 3,893 | 3,759 | 3,831 | 3,559 |
| Net PPE | 2.4% | 5,723 | 5,590 | 5,521 | 5,201 | 4,389 | 4,381 | 4,422 | 4,185 | 4,174 | 4,196 | 4,255 | 4,087 | 4,067 | 4,128 | 4,245 | 4,056 | 4,077 | 4,066 | 4,096 | 3,870 | 3,824 |
| Goodwill | 9516.0% | 2,404 | 25.00 | 2,343 | 2,229 | 1,391 | 108 | 1,287 | 1,289 | 1,291 | 1,290 | 1,293 | 1,288 | 1,284 | 1,283 | 1,286 | 1,288 | 1,125 | 1,125 | 1,126 | 1,110 | - |
| Liabilities | -0.8% | 20,379 | 20,552 | 20,074 | 20,159 | 14,822 | 14,759 | 14,309 | 14,060 | 13,815 | 13,931 | 13,635 | 12,927 | 12,184 | 12,058 | 11,272 | 11,593 | 11,058 | 11,119 | 10,803 | 10,932 | 10,721 |
| Current Liabilities | -7.4% | 11,045 | 11,923 | 11,421 | 10,530 | 7,671 | 7,512 | 7,084 | 6,861 | 6,604 | 6,660 | 6,335 | 5,709 | 6,916 | 6,982 | 6,260 | 6,725 | 6,289 | 6,427 | 6,384 | 6,416 | 6,104 |
| Long Term Debt | 15.4% | 5,089 | 4,409 | 4,498 | 5,450 | 3,490 | 3,502 | 3,579 | 3,602 | 3,620 | 3,620 | 3,610 | 3,609 | 1,639 | 1,580 | 1,576 | 1,619 | 1,624 | 1,605 | 1,597 | 1,563 | 1,556 |
| LT Debt, Current | 1.1% | 575 | 569 | 573 | 55.00 | 65.00 | 69.00 | 59.00 | 55.00 | 57.00 | 61.00 | 62.00 | 58.00 | 66.00 | 33.00 | 31.00 | 37.00 | 46.00 | 37.00 | 45.00 | 41.00 | 49.00 |
| Shareholder's Equity | -2.7% | 10,337 | 10,620 | 8,975 | 8,380 | 9,429 | 8,971 | 9,035 | 8,702 | 8,447 | 9,031 | 8,707 | 8,641 | 8,130 | 8,018 | 8,407 | 8,753 | 9,196 | 8,727 | 8,259 | 8,060 | 8,194 |
| Retained Earnings | 2.7% | 19,102 | 18,605 | 18,037 | 17,628 | 17,450 | 16,952 | 16,741 | 16,555 | 16,228 | 15,825 | 15,419 | 15,118 | 14,811 | 14,728 | 14,416 | 14,315 | 13,897 | 13,401 | 12,917 | 12,519 | 12,009 |
| Accumulated Depreciation | 3.2% | 5,199 | 5,039 | 4,986 | 5,030 | 4,985 | 4,952 | 4,936 | 4,971 | 4,935 | 4,848 | 4,756 | 4,666 | 4,553 | 4,450 | 4,454 | 4,396 | 4,347 | 4,283 | 4,223 | 4,209 | 4,158 |
| Shares Outstanding | 0.1% | 142 | 142 | - | 141 | 141 | 142 | - | 144 | 145 | 147 | - | 148 | 148 | 149 | - | 156 | 157 | 157 | - | 161 | 164 |
| Minority Interest | 2.2% | 1,019 | 997 | 992 | 978 | 917 | 927 | 889 | 921 | 927 | 922 | 927 | 941 | 938 | 950 | 958 | 943 | 918 | 907 | 911 | 869 | 895 |
Cashflow (Last 12 Months)(In Millions)
| Cashflow (Last 12 Months) | (In Millions) | |||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Description | (%) Q/Q | 2023Q2 | 2023Q1 | 2022Q4 | 2022Q3 | 2022Q2 | 2022Q1 | 2021Q4 | 2021Q3 | 2021Q2 | 2021Q1 | 2020Q4 | 2020Q3 | 2020Q2 | 2020Q1 | 2019Q4 | 2019Q3 | 2019Q2 | 2019Q1 | 2018Q4 | 2018Q3 | 2018Q2 |
| Cashflow From Operations | -5.1% | 2,177 | 2,293 | 1,962 | 1,877 | 2,064 | 2,081 | 2,256 | 2,666 | 3,320 | 2,682 | 2,722 | 2,418 | 2,318 | 3,148 | 3,181 | 3,333 | 3,125 | 2,907 | 2,378 | 2,194 | 1,924 |
| Share Based Compensation | - | - | - | - | 36.00 | 33.00 | 34.00 | 37.00 | 34.00 | 37.00 | 35.00 | 31.00 | 34.00 | 33.00 | 44.00 | 49.00 | 52.00 | 53.00 | 53.00 | 53.00 | 45.00 | 46.00 |
| Cashflow From Investing | 4.3% | -4,202 | -4,390 | -4,172 | -4,091 | -1,303 | -858 | -873 | -660 | -631 | -645 | -719 | -658 | -973 | -1,178 | -1,150 | -1,284 | -1,149 | -1,009 | -974 | -785 | -1,128 |
| Cashflow From Financing | -19.2% | 1,457 | 1,803 | 1,669 | 1,963 | -896 | -1,979 | -2,227 | -2,363 | -1,902 | -699 | 280 | -333 | -924 | -1,514 | -2,095 | -1,638 | -1,858 | -1,695 | -1,400 | -1,434 | -783 |
| Dividend Payments | 2.2% | 889 | 870 | 855 | 841 | 826 | 819 | 809 | 801 | 788 | 784 | 782 | 781 | 791 | 777 | 761 | 743 | 721 | 719 | 718 | 716 | 713 |
| Buy Backs | -57.1% | 27.00 | 63.00 | 374 | 544 | 659 | 1,295 | 1,402 | 1,319 | 1,181 | 509 | 641 | 1,015 | 1,721 | 1,721 | 1,271 | 1,067 | 861 | 1,077 | 1,140 | 939 | 710 |
CMI Income Statement
2023-06-30CONDENSED CONSOLIDATED STATEMENTS OF NET INCOME - USD ($) shares in Millions, $ in Millions | 3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
| Income Statement [Abstract] | ||||
| Revenues | $ 8,638 | $ 6,586 | $ 17,091 | $ 12,971 |
| Cost of sales | 6,490 | 4,860 | 12,914 | 9,713 |
| GROSS MARGIN | 2,148 | 1,726 | 4,177 | 3,258 |
| OPERATING EXPENSES AND INCOME | ||||
| Selling, general and administrative expenses | 873 | 622 | 1,626 | 1,237 |
| Research, development and engineering expenses | 384 | 299 | 734 | 597 |
| Equity, royalty and interest income from investees | 133 | 95 | 252 | 191 |
| Other operating expense, net | 27 | 3 | 46 | 114 |
| OPERATING INCOME | 997 | 897 | 2,023 | 1,501 |
| Interest expense | 99 | 34 | 186 | 51 |
| Other income (expense), net | 51 | (8) | 141 | (17) |
| INCOME BEFORE INCOME TAXES | 949 | 855 | 1,978 | 1,433 |
| Income tax expense (Note 5) | 212 | 148 | 435 | 303 |
| CONSOLIDATED NET INCOME | 737 | 707 | 1,543 | 1,130 |
| Less: Net income attributable to noncontrolling interests | 17 | 5 | 33 | 10 |
| NET INCOME ATTRIBUTABLE TO CUMMINS INC. | $ 720 | $ 702 | $ 1,510 | $ 1,120 |
| EARNINGS PER COMMON SHARE ATTRIBUTABLE TO CUMMINS INC. | ||||
| Basic (in dollars per share) | $ 5.08 | $ 4.97 | $ 10.66 | $ 7.90 |
| Diluted (in dollars per share) | $ 5.05 | $ 4.94 | $ 10.60 | $ 7.86 |
| WEIGHTED AVERAGE COMMON SHARES OUTSTANDING | ||||
| Basic (in shares) | 141.7 | 141.2 | 141.6 | 141.7 |
| Dilutive effect of stock compensation awards (in shares) | 0.8 | 0.8 | 0.9 | 0.8 |
| Diluted (in shares) | 142.5 | 142.0 | 142.5 | 142.5 |
CMI Balance Sheet
2023-06-30CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) shares in Millions, $ in Millions | Jun. 30, 2023 | Dec. 31, 2022 |
|---|---|---|
| Statement of Financial Position [Abstract] | ||
| Common stock, par value (in dollars per share) | $ 2.50 | |
| Common stock, shares authorized | 500.0 | |
| Common stock, shares issued | 222.5 | 222.5 |
| Treasury Stock, Common, Shares | 80.9 | 81.2 |
| Current assets | ||
| Cash and cash equivalents | $ 1,802 | $ 2,101 |
| Marketable securities | 512 | 472 |
| Total cash, cash equivalents and marketable securities | 2,314 | 2,573 |
| Accounts and notes receivable, net | 5,863 | 5,202 |
| Inventories (Note 7) | 6,026 | 5,603 |
| Prepaid expenses and other current assets | 1,207 | 1,073 |
| Total current assets | 15,410 | 14,451 |
| Long-term assets | ||
| Property, plant and equipment | 10,922 | 10,507 |
| Accumulated depreciation | (5,199) | (4,986) |
| Property, plant and equipment, net | 5,723 | 5,521 |
| Investments and advances related to equity method investees | 1,861 | 1,759 |
| Goodwill | 2,404 | 2,343 |
| Other intangible assets, net | 2,584 | 2,687 |
| Pension assets (Note 3) | 1,523 | 1,398 |
| Other assets (Note 8) | 2,230 | 2,140 |
| Total assets | 31,735 | 30,299 |
| Current liabilities | ||
| Accounts payable (principally trade) | 4,308 | 4,252 |
| Loans payable (Note 9) | 419 | 210 |
| Commercial paper (Note 9) | 1,617 | 2,574 |
| Current maturities of long-term debt (Note 9) | 575 | 573 |
| Accrued compensation, benefits and retirement costs | 721 | 617 |
| Current portion of accrued product warranty (Note 10) | 751 | 726 |
| Current portion of deferred revenue (Note 2) | 1,017 | 1,004 |
| Other accrued expenses (Note 8) | 1,637 | 1,465 |
| Total current liabilities | 11,045 | 11,421 |
| Long-term liabilities | ||
| Long-term debt (Note 9) | 5,089 | 4,498 |
| Deferred revenue (Note 2) | 939 | 844 |
| Other liabilities (Note 8) | 3,306 | 3,311 |
| Total liabilities | 20,379 | 20,074 |
| Commitments and contingencies (Note 11) | ||
| Redeemable Noncontrolling Interest, Equity, Carrying Amount | 0 | 258 |
| Cummins Inc. shareholders' equity | ||
| Common stock, $2.50 par value, 500 shares authorized, 222.5 and 222.5 shares issued | 2,532 | 2,243 |
| Retained earnings | 19,102 | 18,037 |
| Treasury stock, at cost, 80.9 and 81.2 shares | (9,380) | (9,415) |
| Accumulated other comprehensive loss (Note 12) | (1,917) | (1,890) |
| Total Cummins Inc. shareholders' equity | 10,337 | 8,975 |
| Noncontrolling interests | 1,019 | 992 |
| Total equity | 11,356 | 9,967 |
| Total liabilities, redeemable noncontrolling interests and equity | $ 31,735 | $ 30,299 |
Cummins Inc. designs, manufactures, distributes, and services diesel and natural gas engines, electric and hybrid powertrains, and related components worldwide. It operates through five segments: Engine, Distribution, Components, Power Systems, and New Power. The company offers diesel and natural gas-powered engines under the Cummins and other customer brands for the heavy and medium-duty truck, bus, recreational vehicle, light-duty automotive, construction, mining, marine, rail, oil and gas, defense, and agricultural markets; and offers new parts and services, as well as remanufactured parts and engines. It also provides power generation systems, high-horsepower engines, heavy and medium duty engines, application engineering services, custom-designed assemblies, retail and wholesale aftermarket parts, and in-shop and field-based repair services. In addition, the company offers emission solutions; turbochargers; air and fuel filters, fuel water separators, lube and hydraulic filters, coolants, fuel additives, and other filtration systems; and electronic control modules, sensors, and supporting software, as well as new, replacement, and remanufactured fuel systems. Further, it provides automated transmissions; standby and prime power generators, controls, paralleling systems, and transfer switches, as well as A/C generator/alternator products under the Stamford and AVK brands; and electrified power systems with components and subsystems, including battery, fuel cell, and hydrogen production technologies. Additionally, it offers filtration, aftertreatment, controls systems, air handling systems, automated transmissions, electric power generation systems, and batteries. The company sells its products to original equipment manufacturers, distributors, dealers, and other customers. The company was formerly known as Cummins Engine Company and changed its name to Cummins Inc. in 2001. Cummins Inc. was founded in 1919 and is headquartered in Columbus, Indiana.