Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY

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CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($)
$ in Millions
Total
Redeemable Noncontrolling Interest
Common Stock
Additional paid-in Capital
Retained Earnings
Treasury Stock, Common
Accumulated Other Comprehensive Loss
Total Cummins Inc. Shareholders' Equity
Noncontrolling interests
us-gaap_NetIncomeinTotalEquityexcludingNoncontrollingInterestAmount
Increase (Decrease) in Shareholders' Equity                    
Redeemable Noncontrolling Interest, Equity, Carrying Amount   $ 282                
BALANCE, AT THE BEGINNING OF THE PERIOD at Dec. 31, 2020 $ 8,707   $ 556 $ 1,617 $ 15,419 $ (7,779) $ (1,982) $ 7,831 $ 876  
Increase (Decrease) in Shareholders' Equity                    
Net Income (Loss) Attributable to Redeemable Noncontrolling Interest   (13)                
Net income 2,164       2,131     2,131 46 $ 2,177
Other comprehensive loss, net of tax (Note 17) 406           411 411 (5)  
Issuance of common stock 1   1       1    
Repurchases of common stock (Note 16) (1,402)         (1,402)   (1,402)    
Cash dividends on common stock (Note 16) (809)       (809)     (809)    
Distributions to noncontrolling interests (28)               (28)  
Share-based awards 56     1   55   56    
Fair value adjustment of redeemable noncontrolling interests (97) 97   (97)       (97)    
Other shareholder transactions 24   21   3   24 0  
BALANCE, AT THE END OF THE PERIOD at Dec. 31, 2021 9,035   556 1,543 16,741 (9,123) (1,571) 8,146 889  
Increase (Decrease) in Shareholders' Equity                    
Redeemable Noncontrolling Interest, Equity, Carrying Amount   366                
Net Income (Loss) Attributable to Redeemable Noncontrolling Interest   (24)                
Net income 2,183       2,151     2,151 56 2,207
Other comprehensive loss, net of tax (Note 17) (359)           (319) (319) (40)  
Issuance of common stock 8     8       8    
Repurchases of common stock (Note 16) (374)         (374)   (374)    
Cash dividends on common stock (Note 16) (855)       (855)     (855)    
Distributions to noncontrolling interests (38)               (38)  
Share-based awards 80     3   77   80    
Acquisition of business (Note 24) 111               111  
Fair value adjustment of redeemable noncontrolling interests 104 (104)   104       104    
Other shareholder transactions 48 (20)   29   5   (34) 14  
BALANCE, AT THE END OF THE PERIOD at Dec. 31, 2022 9,967   556 1,687 18,037 (9,415) (1,890) 8,975 992  
Increase (Decrease) in Shareholders' Equity                    
Redeemable Noncontrolling Interest, Equity, Carrying Amount 258 258                
Net Income (Loss) Attributable to Redeemable Noncontrolling Interest   (20)                
Net income 840       735     735 125 $ 860
Other comprehensive loss, net of tax (Note 17) (319)           (316) (316) (3)  
Issuance of common stock 3     3       3    
Cash dividends on common stock (Note 16) (921)       (921)     (921)    
Distributions to noncontrolling interests (57)               (57)  
Share-based awards 48     (4)   52   48    
Fair value adjustment of redeemable noncontrolling interests (33) 33   (33)       (33)    
Noncontrolling Interest, Decrease from Redemptions or Purchase of Interests   (271)                
Impact on equity of sale of noncontrolling interest in subsidiary 282     285       285 (3)  
Other shareholder transactions 74     70   4   74 0  
BALANCE, AT THE END OF THE PERIOD at Dec. 31, 2023 9,904   $ 556 $ 2,008 $ 17,851 $ (9,359) $ (2,206) $ 8,850 $ 1,054  
Increase (Decrease) in Shareholders' Equity                    
Redeemable Noncontrolling Interest, Equity, Carrying Amount $ 0 $ 0