v3.22.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
shares in Millions, $ in Millions
Mar. 31, 2022
Dec. 31, 2021
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, shares 81.4 80.0
Current assets    
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents $ 2,276 $ 2,592
Marketable securities 527 595
Total cash, cash equivalents and marketable securities 2,803 3,187
Accounts and notes receivable, net    
Trade and other 3,969 3,565
Nonconsolidated equity investees 399 425
Inventories (Note 8) 4,586 4,355
Prepaid expenses and other current assets 839 777
Total current assets 12,596 12,309
Long-term assets    
Property, plant and equipment 9,333 9,358
Accumulated depreciation (4,952) (4,936)
Property, plant and equipment, net 4,381 4,422
Investments and advances related to equity method investees 1,592 1,538
Goodwill 1,286 1,287
Other intangible assets, net 917 900
Pension assets (Note 4) 1,506 1,488
Other assets (Note 9) 1,844 1,766
Total assets 24,122 23,710
Current liabilities    
Accounts payable (principally trade) 3,497 3,021
Loans payable (Note 10) 243 208
Commercial paper (Note 10) 311 313
Accrued compensation, benefits and retirement costs 411 683
Current portion of accrued product warranty (Note 11) 798 755
Current portion of deferred revenue (Note 2) 883 855
Other accrued expenses (Note 9) 1,300 1,190
Current maturities of long-term debt (Note 10) 69 59
Total current liabilities 7,512 7,084
Long-term liabilities    
Long-term debt (Note 10) 3,502 3,579
Pensions and other postretirement benefits (Note 4) 593 604
Accrued product warranty (Note 11) 709 684
Deferred revenue (Note 2) 877 850
Other liabilities (Note 9) 1,566 1,508
Total liabilities 14,759 14,309
Commitments and contingencies (Note 12)
Cummins Inc. shareholders' equity    
Common stock, $2.50 par value, 500 shares authorized, 222.5 and 222.5 shares issued 2,411 2,427
Retained earnings 16,952 16,741
Treasury stock, at cost, 81.4 and 80.0 shares (9,412) (9,123)
Accumulated other comprehensive loss (Note 13) (1,515) (1,571)
Total Cummins Inc. shareholders' equity 8,436 8,474
Noncontrolling interests 927 927
Total equity 9,363 9,401
Total liabilities and equity $ 24,122 $ 23,710

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