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CONDENSED CONSOLIDATED STATEMENTS OF NET INCOME - USD ($)
shares in Millions, $ in Millions
3 Months Ended
Apr. 04, 2021
Mar. 29, 2020
Income Statement [Abstract]    
NET SALES (a) (Note 2) [1] $ 6,092 $ 5,011
Cost of sales 4,606 3,717
GROSS MARGIN 1,486 1,294
OPERATING EXPENSES AND INCOME    
Selling, general and administrative expenses 574 546
Research, development and engineering expenses 260 238
Equity, royalty and interest income from investees (Note 4) 166 129
Other operating expense, net (8) (5)
OPERATING INCOME 810 634
Interest expense 28 23
Other income, net 1 44
INCOME BEFORE INCOME TAXES 783 655
Income tax expense 172 127
CONSOLIDATED NET INCOME 611 528
Less: Net income attributable to noncontrolling interests 8 17
NET INCOME ATTRIBUTABLE TO CUMMINS INC. $ 603 $ 511
EARNINGS PER COMMON SHARE ATTRIBUTABLE TO CUMMINS INC.    
Basic (in dollars per share) $ 4.10 $ 3.42
Diluted (in dollars per share) $ 4.07 $ 3.41
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING    
Basic (in shares) 147.0 149.3
Dilutive effect of stock compensation awards (in shares) 1.3 0.4
Diluted (in shares) 148.3 149.7
Sales to nonconsolidated equity investees [1] $ 478 $ 257
[1] (a) Includes sales to nonconsolidated equity investees of $478 million for the three months ended April 4, 2021, compared with $257 million for the comparable period in 2020.

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