v3.25.0.1
CONSOLIDATED BALANCE SHEETS - USD ($)
shares in Millions, $ in Millions
Dec. 31, 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 85.1 80.7
Current assets    
Cash and cash equivalents $ 1,671 $ 2,179
Marketable securities (Note 5) 593 562
Cash, cash equivalents and marketable securities 2,264 2,741
Accounts and notes receivable, net    
Trade and other 5,181 5,583
Inventories (Note 6) 5,742 5,677
Prepaid expenses and other current assets 1,565 1,197
Total current assets 14,752 15,198
Long-term assets    
Property, plant and equipment, net (Note 7) 6,356 6,249
Investments and advances related to equity method investees (Note 3) 1,889 1,800
Goodwill (Note 9) 2,370 2,499
Other intangible assets, net (Note 9) 2,351 2,519
Pension assets (Note 10) 1,189 1,197
Other assets (Note 11) 2,633 2,543
Total assets 31,540 32,005
Current liabilities    
Accounts payable (principally trade) 3,951 4,260
Loans payable (Note 12) 356 280
Commercial paper (Note 12) 1,259 1,496
Current maturities of long-term debt (Note 12) 660 118
Accrued compensation, benefits and retirement costs 1,084 1,108
Current portion of accrued product warranty (Note 13) 679 667
Current portion of deferred revenue (Note 2) 1,347 1,220
Other accrued expenses (Note 11) 1,898 3,754
Total current liabilities 11,234 12,903
Long-term liabilities    
Long-term debt (Note 12) 4,784 4,802
Deferred revenue (Note 2) 1,065 966
Other liabilities (Note 11) 3,149 3,430
Total liabilities 20,232 22,101
Commitments and contingencies (Note 14)
Cummins Inc. shareholders’ equity (Note 15)    
Common stock, $2.50 par value, 500 shares authorized, 222.5 and 222.5 shares issued 2,636 2,564
Retained earnings 20,828 17,851
Treasury stock, at cost, 85.1 and 80.7 shares (10,748) (9,359)
Accumulated other comprehensive loss (Note 16) (2,445) (2,206)
Total Cummins Inc. shareholders' equity 10,271 8,850
Noncontrolling interests (Note 17) 1,037 1,054
Total equity 11,308 9,904
Total liabilities and equity $ 31,540 $ 32,005

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