v3.24.3
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
shares in Millions, $ in Millions
Sep. 30, 2024
Dec. 31, 2023
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 85.4 80.7
Current assets    
Cash and cash equivalents $ 1,733 $ 2,179
Marketable securities (Note 6) 518 562
Total cash, cash equivalents and marketable securities 2,251 2,741
Accounts and notes receivable, net 5,387 5,583
Inventories (Note 7) 6,134 5,677
Prepaid expenses and other current assets 1,544 1,197
Total current assets 15,316 15,198
Long-term assets    
Property, plant and equipment 11,603 11,674
Accumulated depreciation (5,427) (5,425)
Property, plant and equipment, net 6,176 6,249
Investments and advances related to equity method investees 1,922 1,800
Goodwill 2,412 2,499
Other intangible assets, net 2,462 2,519
Pension assets (Note 3) 1,208 1,197
Other assets (Note 8) 2,556 2,543
Total assets 32,052 32,005
Current liabilities    
Accounts payable (principally trade) 4,206 4,260
Loans payable (Note 9) 441 280
Commercial paper (Note 9) 1,636 1,496
Current maturities of long-term debt (Note 9) 654 118
Accrued compensation, benefits and retirement costs 1,011 1,108
Current portion of accrued product warranty (Note 10) 685 667
Current portion of deferred revenue (Note 2) 1,225 1,220
Other accrued expenses (Note 8) 1,745 3,754
Total current liabilities 11,603 12,903
Long-term liabilities    
Long-term debt (Note 9) 4,856 4,802
Deferred revenue (Note 2) 1,090 966
Other liabilities (Note 8) 3,162 3,430
Total liabilities 20,711 22,101
Commitments and contingencies (Note 11)
Cummins Inc. shareholders' equity    
Common stock, $2.50 par value, 500 shares authorized, 222.5 and 222.5 shares issued 2,612 2,564
Retained earnings 20,660 17,851
Treasury stock, at cost, 85.4 and 80.7 shares (10,783) (9,359)
Accumulated other comprehensive loss (Note 12) (2,174) (2,206)
Total Cummins Inc. shareholders' equity 10,315 8,850
Noncontrolling interests 1,026 1,054
Total equity 11,341 9,904
Total Liabilities and Equity $ 32,052 $ 32,005

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