v3.20.4
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Income Statement [Abstract]      
Net sales [1] $ 19,811 $ 23,571 $ 23,771
Cost of sales 14,917 17,591 18,034
Gross Profit 4,894 5,980 5,737
OPERATING EXPENSES AND INCOME      
Selling, general and administrative expenses 2,125 2,454 2,437
Research, development and engineering expenses 906 1,001 902
Equity, royalty and interest income from investees 452 330 394
Restructuring actions (Note 21) 0 119 0
Other operating income (expense), net (46) (36) (6)
OPERATING INCOME 2,269 2,700 2,786
Interest expense (Note 11) 100 109 114
Other income, net 169 243 81
INCOME BEFORE INCOME TAXES 2,338 2,834 2,753
Income tax expense (Note 4) 527 566 566
CONSOLIDATED NET INCOME 1,811 2,268 2,187
Less: Net income attributable to noncontrolling interests 22 8 46
NET INCOME ATTRIBUTABLE TO CUMMINS INC. $ 1,789 $ 2,260 $ 2,141
EARNINGS PER COMMON SHARE ATTRIBUTABLE TO CUMMINS INC. (Note 19)      
Basic (in dollars per share) $ 12.07 $ 14.54 $ 13.20
Diluted (in dollars per share) $ 12.01 $ 14.48 $ 13.15
Sales to nonconsolidated equity investees $ 1,283 $ 1,191 $ 1,267
[1] (a)Includes sales to nonconsolidated equity investees of $1,283 million, $1,191 million and $1,267 million for the years ended December 31, 2020, 2019 and 2018, respectively.    

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