Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Dec. 31, 2017
Dec. 31, 2016
Current assets    
Cash and cash equivalents $ 1,369 $ 1,120
Marketable securities (Note 4) 198 260
Total cash, cash equivalents and marketable securities 1,567 1,380
Accounts and notes receivable, net    
Trade and other 3,311 2,803
Nonconsolidated equity investees 307 222
Inventories (Note 5) 3,166 2,675
Prepaid expenses and other current assets 577 627
Total current assets 8,928 7,707
Long-term assets    
Property, plant and equipment, net (Note 6) 3,927 3,800
Investments and advances related to equity method investees (Note 3) 1,156 946
Goodwill (Note 7) 1,082 480
Other intangible assets, net (Note 7) 973 332
Pension assets (Note 10) 1,043 731
Other assets 966 1,015
Total assets 18,075 15,011
Current liabilities    
Accounts payable (principally trade) 2,579 1,854
Loans payable (Note 9) 57 41
Commercial paper (Note 9) 298 212
Accrued compensation, benefits and retirement costs 811 412
Current portion of accrued product warranty (Note 8) 454 333
Current portion of deferred revenue 500 468
Other accrued expenses 915 970
Current maturities of long-term debt (Note 9) 63 35
Total current liabilities 5,677 4,325
Long-term liabilities    
Long-term debt (Note 9) 1,588 1,568
Postretirement benefits other than pensions (Note 10) 289 329
Pensions (Note 10) 330 326
Other liabilities and deferred revenue (Note 11) 2,027 1,289
Total liabilities 9,911 7,837
Commitments and contingencies (Note 12)
Cummins Inc. shareholders’ equity (Note 13)    
Common stock, $2.50 par value, 500 shares authorized, 222.4 and 222.4 shares issued 2,210 2,153
Retained earnings 11,464 11,040
Treasury stock, at cost, 56.7 and 54.2 shares (4,905) (4,489)
Common stock held by employee benefits trust, at cost, 0.5 and 0.7 shares (7) (8)
Accumulated other comprehensive loss (Note 14) (1,503) (1,821)
Total Cummins Inc. shareholders' equity 7,259 6,875
Stockholders' Equity Attributable to Noncontrolling Interest 905 299
Total equity 8,164 7,174
Total liabilities and equity $ 18,075 $ 15,011