v3.20.4
CONSOLIDATED BALANCE SHEETS - USD ($)
shares in Millions, $ in Millions
Dec. 31, 2020
Dec. 31, 2019
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 222.4 222.4
Treasury stock, shares 74.8 71.7
Common stock held by employee benefits trust, at cost, shares 0.0 0.2
Current assets    
Cash and cash equivalents $ 3,401 $ 1,129
Marketable securities (Note 5) 461 341
Total cash, cash equivalents and marketable securities 3,862 1,470
Accounts and notes receivable, net    
Trade and other 3,440 3,387
Nonconsolidated equity investees 380 283
Inventories (Note 6) 3,425 3,486
Prepaid expenses and other current assets 790 761
Total current assets 11,897 9,387
Long-term assets    
Property, plant and equipment, net (Note 7) 4,255 4,245
Investments and advances related to equity method investees (Note 3) 1,441 1,237
Goodwill (Note 9) 1,293 1,286
Other intangible assets, net (Note 9) 963 1,003
Pension assets (Note 13) 1,042 1,001
Other assets 1,733 1,578
Total assets 22,624 19,737
Current liabilities    
Accounts payable (principally trade) 2,820 2,534
Loans payable (Note 11) 169 100
Commercial paper (Note 11) 323 660
Accrued compensation, benefits and retirement costs 484 560
Current portion of accrued product warranty (Note 12) 674 803
Current portion of deferred revenue (Note 2) 691 533
Other accrued expenses (Note 10) 1,112 1,039
Current maturities of long-term debt (Note 11) 62 31
Total current liabilities 6,335 6,260
Long-term liabilities    
Long-term debt (Note 11) 3,610 1,576
Pensions and other postretirement benefits (Note 13) 630 591
Accrued product warranty (Note 12) 672 645
Deferred revenue (Note 2) 840 821
Other liabilities 1,548 1,379
Total liabilities 13,635 11,272
Commitments and contingencies (Note 14)
Cummins Inc. shareholders’ equity (Note 15)    
Common stock, $2.50 par value, 500 shares authorized, 222.4 and 222.4 shares issued 2,404 2,346
Retained earnings 15,419 14,416
Treasury stock, at cost, 74.8 and 71.7 shares (7,779) (7,225)
Common stock held by employee benefits trust, at cost, — and 0.2 shares 0 (2)
Accumulated other comprehensive loss (Note 16) (1,982) (2,028)
Total Cummins Inc. shareholders' equity 8,062 7,507
Noncontrolling interests (Note 17) 927 958
Total equity 8,989 8,465
Total liabilities and equity $ 22,624 $ 19,737

Source