v3.24.0.1
CONSOLIDATED BALANCE SHEETS - USD ($)
shares in Millions, $ in Millions
Dec. 31, 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 80.7 81.2
Current assets    
Cash and cash equivalents $ 2,179 $ 2,101
Marketable securities 562 472
Cash, cash equivalents and marketable securities 2,741 2,573
Accounts and notes receivable, net    
Trade and other 5,583 5,202
Inventories (Note 7) 5,677 5,603
Prepaid expenses and other current assets 1,197 1,073
Total current assets 15,198 14,451
Long-term assets    
Property, plant and equipment, net (Note 8) 6,249 5,521
Investments and advances related to equity method investees (Note 4) 1,800 1,759
Goodwill (Note 10) 2,499 2,343
Other intangible assets, net (Note 10) 2,519 2,687
Pension assets (Note 11) 1,197 1,398
Other assets 2,543 2,140
Total assets 32,005 30,299
Current liabilities    
Accounts payable (principally trade) 4,260 4,252
Loans payable (Note 13) 280 210
Commercial paper (Note 13) 1,496 2,574
Current maturities of long-term debt (Note 13) 118 573
Accrued compensation, benefits and retirement costs 1,108 617
Current portion of accrued product warranty (Note 14) 667 726
Current portion of deferred revenue (Note 3) 1,220 1,004
Other accrued expenses (Note 12) 3,754 1,465
Total current liabilities 12,903 11,421
Long-term liabilities    
Long-term debt (Note 13) 4,802 4,498
Deferred revenue (Note 3) 966 844
Other liabilities 3,430 3,311
Total liabilities 22,101 20,074
Commitments and contingencies (Note 15)
Redeemable Noncontrolling Interest, Equity, Carrying Amount 0 258
Cummins Inc. shareholders’ equity (Note 16)    
Common stock, $2.50 par value, 500 shares authorized, 222.5 and 222.5 shares issued 2,564 2,243
Retained earnings 17,851 18,037
Treasury stock, at cost, 80.7 and 81.2 shares (9,359) (9,415)
Accumulated other comprehensive loss (Note 17) (2,206) (1,890)
Total Cummins Inc. shareholders' equity 8,850 8,975
Noncontrolling interests (Note 18) 1,054 992
Total equity 9,904 9,967
Total liabilities, redeemable noncontrolling interests and equity $ 32,005 $ 30,299

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