v3.24.1.u1
CONDENSED CONSOLIDATED STATEMENTS OF NET INCOME - USD ($)
shares in Millions, $ in Millions
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Income Statement [Abstract]    
NET SALES (Notes 1 and 2) $ 8,403 $ 8,453
Cost of sales 6,362 6,424
GROSS MARGIN 2,041 2,029
OPERATING EXPENSES AND INCOME    
Selling, general and administrative expenses 839 753
Research, development and engineering expenses 369 350
Equity, royalty and interest income from investees (Note 4) 123 119
Other operating expense, net 33 19
OPERATING INCOME 923 1,026
Interest expense 89 87
Other income, net (Note 14) 1,387 90
INCOME BEFORE INCOME TAXES 2,221 1,029
Income tax expense (Note 5) 193 223
CONSOLIDATED NET INCOME 2,028 806
Less: Net income attributable to noncontrolling interests 35 16
NET INCOME ATTRIBUTABLE TO CUMMINS INC. $ 1,993 $ 790
EARNINGS PER COMMON SHARE ATTRIBUTABLE TO CUMMINS INC.    
Basic (in dollars per share) $ 14.10 $ 5.58
Diluted (in dollars per share) $ 14.03 $ 5.55
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING    
Basic (in shares) 141.3 141.5
Dilutive effect of stock compensation awards (in shares) 0.8 0.9
Diluted (in shares) 142.1 142.4

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