v3.22.2.2
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
shares in Millions, $ in Millions
Sep. 30, 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 81.5 80.0
Current assets    
Cash and cash equivalents $ 2,499 $ 2,592
Marketable securities 466 595
Total cash, cash equivalents and marketable securities 2,965 3,187
Accounts and notes receivable, net    
Trade and other 4,450 3,565
Nonconsolidated equity investees 349 425
Inventories (Note 8) 5,543 4,355
Prepaid expenses and other current assets 1,091 777
Total current assets 14,398 12,309
Long-term assets    
Property, plant and equipment 10,231 9,358
Accumulated depreciation (5,030) (4,936)
Property, plant and equipment, net 5,201 4,422
Investments and advances related to equity method investees 1,826 1,538
Goodwill 2,229 1,287
Other intangible assets, net 2,602 900
Pension assets (Note 4) 1,536 1,488
Other assets (Note 10) 1,977 1,766
Total assets 29,769 23,710
Current liabilities    
Accounts payable (principally trade) 4,000 3,021
Loans payable (Note 11) 217 208
Commercial paper (Note 11) 2,393 313
Accrued compensation, benefits and retirement costs 575 683
Current portion of accrued product warranty (Note 12) 801 755
Current portion of deferred revenue (Note 2) 921 855
Other accrued expenses (Note 10) 1,568 1,190
Current maturities of long-term debt (Note 11) 55 59
Total current liabilities 10,530 7,084
Long-term liabilities    
Long-term debt (Note 11) 5,450 3,579
Pensions and other postretirement benefits (Note 4) 678 604
Accrued product warranty (Note 12) 742 684
Deferred revenue (Note 2) 867 850
Other liabilities (Note 10) 1,892 1,508
Total liabilities 20,159 14,309
Commitments and contingencies (Note 13)
Redeemable Noncontrolling Interest, Equity, Carrying Amount 252 366
Cummins Inc. shareholders' equity    
Common stock, $2.50 par value, 500 shares authorized, 222.5 and 222.5 shares issued 2,214 2,099
Retained earnings 17,628 16,741
Treasury stock, at cost, 81.5 and 80.0 shares (9,449) (9,123)
Accumulated other comprehensive loss (Note 15) (2,013) (1,571)
Total Cummins Inc. shareholders' equity 8,380 8,146
Noncontrolling interests 978 889
Total equity 9,358 9,035
Total liabilities, redeemable noncontrolling interests and equity $ 29,769 $ 23,710

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