EXHIBIT 99

earningsreleasea061.jpg
For Immediate Release

May 4, 2021

Cummins Reports First Quarter 2021 Results

First quarter revenues of $6.1 billion; GAAP1 Net Income of $603 million
First quarter EBITDA of 16.1 percent; Diluted EPS of $4.07
The company is raising its full year 2021 revenue guidance to be up 20 to 24 percent; up from 8 to 12 percent
EBITDA is now expected to be in the range of 15.5 to 16.0 percent; up from 15.0 to 15.5 percent

COLUMBUS, IND. - Cummins Inc. (NYSE: CMI) today reported results for the first quarter of 2021.

First quarter revenues of $6.1 billion increased 22 percent from the same quarter in 2020. Sales in North America increased 7 percent while international revenues increased 45 percent driven by strong demand across all global markets as well as new product sales in China and India.

“Demand accelerated in the first quarter, as the global economy continued to improve, driving strong sales growth across most businesses and regions and resulting in solid profitability. The strength and breadth of the rebound in demand has surpassed our original expectations and we have raised our full year outlook”, said Chairman and CEO Tom Linebarger. “While we are encouraged by the rising demand, the pace of recovery has placed a strain on global supply chains leading to increased costs and challenges in fulfilling end-user demand. The shortage of key components such as semiconductor chips has been the primary challenge, with adverse weather conditions impacting the US, and bottlenecks in global logistics further adding to order backlogs. The ability to supply is our key focus now and we are doing everything we can to mitigate the impact. I want to thank our global employees, especially those in our supply chain and manufacturing operations, and our suppliers for their extraordinary efforts to manage through these challenges and support our customers.”

Earnings before interest, taxes, depreciation and amortization (EBITDA) in the first quarter were $980 million (16.1 percent of sales), compared to $846 million (16.9 percent of sales) a year ago.

Net income attributable to Cummins in the first quarter was $603 million ($4.07 per diluted share) compared to $511 million ($3.41 per diluted share) in 2020. The tax rate in the first quarter was 22.0 percent including $4 million, or $0.03 per share, of favorable discrete items.

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2021 Outlook:

Based on the current forecast, Cummins is raising its full year 2021 revenue guidance to 20 to 24 percent, an increase from 8 to 12 percent due to stronger demand across all markets. EBITDA is expected to be in the range of 15. 5 to 16.0 percent, an increase from the prior range of 15.0 and 15.5 percent of sales, primarily due to increased demand. The Company expects to return 75 percent of Operating Cash Flow to shareholders in 2021 in the form of dividends and share repurchases.

“We are raising our guidance for 2021 on both revenue and profitability. We continue to take necessary precautions at all our facilities to mitigate the spread of COVID-19 and our focus remains on the health and safety of our employees. We are optimistic that continued vaccination distribution globally will reduce the impact of the virus in the second half of the year, but there is still a risk of an increase in cases and the potential for new virus variants that could result in lower customer demand, additional facility shutdowns, or additional supply chain constraints in the future. Cummins is in a strong position to keep investing in future growth, bringing new technologies to customers and returning cash to shareholders.” said Chairman and CEO Tom Linebarger.


First Quarter 2021 Highlights:

Cummins was named to Ethisphere’s World’s Most Ethical Companies list for a 14th consecutive year.
The Company announced a global strategic partnership with Daimler to provide medium duty powertrain systems for Daimler Trucks and Buses, allowing both companies to be more competitive, drive global innovation, expand offerings to customers and reduce emissions.
Cummins continued its commitment to gender equality on International Women’s Day. With a goal of having 24 hours of continuous conversations on gender equity, more than 5,000 employees participated in 47 conversations hosted in 22 countries around the world. The Cummins Powers Women program also continued its progress by forming a new partnership with Promundo in Europe to prevent violence against women.
Cummins Vice Chairman, Tony Satterthwaite, testified before Congress in the Hearing on Transportation Technologies, reinforcing Cummins’ commitment to achieve a net zero carbon emissions future through continued innovation in advanced internal combustion, battery, and fuel cell technologies. Satterthwaite urged the government to make the infrastructure investments required to support the successful market adoption of zero carbon emission technologies.
The Company announced employees, contingent workers and their spouses and dependents (ages 16+) could receive the Pfizer-BioNTech COVID-19 vaccine at several locations across the United States. Cummins continues to collaborate with health officials around the world to provide employees with access to COVID-19 vaccines.
First quarter 2021 detail (all comparisons to same period in 2020):

Engine Segment

Sales - $2.5 billion, up 14 percent
Segment EBITDA - $354 million, or 14.4 percent of sales, compared to $365 million or 16.9 percent of sales
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On-highway revenues increased 15 percent driven by strong demand in the North American truck and pickup markets and off-highway revenues increased 9 percent driven by strong demand in international construction markets
Sales increased 10 percent in North America and 24 percent in international markets

Distribution Segment

Sales - $1.8 billion, up 1 percent
Segment EBITDA - $160 million, or 8.7 percent of sales, compared to $158 million or 8.7 percent of sales
Revenues in North America were down 6 percent and international sales increased by 17 percent
Increased demand in power generation and engine markets offset by declines in parts and service as a result of supply chain constraints

Components Segment

Sales - $2.2 billion, up 43 percent
Segment EBITDA - $421 million, or 19.6 percent of sales, compared to $279 million or 18.6 percent of sales
Revenues in North America increased by 15 percent and international sales increased by 82 percent due to higher demand in China and India

Power Systems Segment

Sales - $1.0 billion, up 16 percent
Segment EBITDA - $126 million, or 12.3 percent of sales, compared to $77 million, or 8.7 percent of sales
Power generation revenues increased by 18 percent driven by growth in recreational vehicle and datacenter markets while industrial revenues increased 9 percent due to stronger demand in mining markets

New Power Segment

Sales - $35 million, up 250 percent
Segment EBITDA loss - $51 million
Revenues increased due to greater demand in transit and school bus markets in addition to the commissioning of electrolyzer projects and shipments of fuel cell systems to the rail market
Costs associated with the development of fuel cells and electrolyzers as well as products to support battery electric vehicles are contributing to EBITDA losses

1 Generally Accepted Accounting Principles

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About Cummins Inc.
Cummins Inc., a global power leader, is a corporation of complementary business segments that design, manufacture, distribute and service a broad portfolio of power solutions. The company’s products range from diesel, natural gas, electric and hybrid powertrains and powertrain-related components including filtration, aftertreatment, turbochargers, fuel systems, controls systems, air handling systems, automated transmissions, electric power generation systems, batteries, electrified power systems, hydrogen generation and fuel cell products. Headquartered in Columbus, Indiana (U.S.), since its founding in 1919, Cummins employs approximately 57,825 people committed to powering a more prosperous world through three global corporate responsibility priorities critical to healthy communities: education, environment and equality of opportunity. Cummins serves its customers online, through a network of company-owned and independent distributor locations, and through thousands of dealer locations worldwide and earned about $1.8 billion on sales of $19.8 billion in 2020. To learn more about Cummins visit cummins.com.

Forward-looking disclosure statement
Information provided in this release that is not purely historical are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding our forecasts, guidance, preliminary results, expectations, hopes, beliefs and intentions on strategies regarding the future. These forward-looking statements include, without limitation, statements relating to our plans and expectations for our revenues and EBITDA. Our actual future results could differ materially from those projected in such forward-looking statements because of a number of factors, including, but not limited to: any adverse results of our internal review into our emissions certification process and compliance with emission standards; increased scrutiny from regulatory agencies, as well as unpredictability in the adoption, implementation and enforcement of emission standards around the world; policy changes in international trade; the U.K.'s exit from the European Union; changes in taxation; global legal and ethical compliance costs and risks; increasingly stringent environmental laws and regulations; future bans or limitations on the use of diesel-powered products; supply shortages and supplier financial risk, particularly from any of our single-sourced suppliers, including suppliers that may be impacted by the COVID-19 pandemic; market slowdown due to the impacts from the COVID-19 pandemic, other public health crises, epidemics or pandemics; impacts to manufacturing and supply chain abilities from an extended shutdown or disruption of our operations due to the COVID-19 pandemic; aligning our capacity and production with our demand, including impacts of COVID-19; large truck manufacturers and original equipment manufacturers customers discontinuing outsourcing their engine supply needs or experiencing financial distress, particularly related to the COVID-19 pandemic, bankruptcy or change in control; a slowdown in infrastructure development and/or depressed commodity prices; failure to realize expected results from our investment in Eaton Cummins Automated Transmission Technologies joint venture; the actions of, and income from, joint ventures and other investees that we do not directly control; product recalls; the development of new technologies that reduce demand for our current products and services; lower than expected acceptance of new or existing products or services; variability in material and commodity costs; product liability claims; our sales mix of products; protection and validity of our patent and other intellectual property rights; disruptions in global credit and financial markets as the result of the COVID-19 pandemic; labor relations or work stoppages; reliance on our executive leadership team and other key personnel; climate change and global warming; our plan to reposition our portfolio of product offerings through exploration of strategic acquisitions and divestitures and related uncertainties of entering such transactions; exposure to potential security breaches or other disruptions to our information technology systems and data security; political, economic and other risks from operations in numerous countries; competitor activity; increasing competition, including increased global competition among our customers in emerging markets; foreign currency exchange rate changes; the performance of our pension plan assets and volatility of discount rates, particularly those related to the sustained slowdown of the global economy due to the COVID-19 pandemic; the price and availability of energy; the outcome of pending and future litigation and governmental proceedings; continued availability of financing, financial instruments and financial resources in the amounts, at the times and on the terms required to support our future business; and other risks detailed from time to time in our SEC filings, including particularly in the Risk Factors section of our 2020 Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements made herein are made only as of the date of this press release and we undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. More detailed information about factors that may affect our performance may be found in our filings with the SEC, which are available at http://www.sec.gov or at http://www.cummins.com in the Investor Relations section of our website.

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Presentation of Non-GAAP Financial Information
EBITDA is a non-GAAP measure used in this release and is defined and reconciled to what management believes to be the most comparable GAAP measure in a schedule attached to this release. Cummins presents this information as it believes it is useful to understanding the Company's operating performance, and because EBITDA is a measure used internally to assess the performance of the operating units.

Webcast information
Cummins management will host a teleconference to discuss these results today at 10 a.m. EST. This teleconference will be webcast and available on the Investor Relations section of the Cummins website at www.cummins.com. Participants wishing to view the visuals available with the audio are encouraged to sign-in a few minutes prior to the start of the teleconference.

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CUMMINS INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF NET INCOME
(Unaudited) (a)


 Three months ended
In millions, except per share amountsApril 4,
2021
March 29,
2020
NET SALES$6,092 $5,011 
Cost of sales4,606 3,717 
GROSS MARGIN 1,486 1,294 
OPERATING EXPENSES AND INCOME   
Selling, general and administrative expenses 574 546 
Research, development and engineering expenses260 238 
Equity, royalty and interest income from investees166 129 
Other operating expense, net(8)(5)
OPERATING INCOME 810 634 
Interest expense28 23 
Other income, net1 44 
INCOME BEFORE INCOME TAXES 783 655 
Income tax expense172 127 
CONSOLIDATED NET INCOME 611 528 
Less: Net income attributable to noncontrolling interests8 17 
NET INCOME ATTRIBUTABLE TO CUMMINS INC. $603 $511 
EARNINGS PER COMMON SHARE ATTRIBUTABLE TO CUMMINS INC.  
Basic $4.10 $3.42 
Diluted $4.07 $3.41 
WEIGHTED-AVERAGE COMMON SHARES OUTSTANDING   
Basic 147.0 149.3 
Diluted 148.3 149.7 
(a)  Prepared on an unaudited basis in accordance with accounting principles generally accepted in the United States of America.








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CUMMINS INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited) (a)

In millions, except par valueApril 4,
2021
December 31,
2020
ASSETS  
Current assets   
Cash and cash equivalents $2,958 $3,401 
Marketable securities397 461 
Total cash, cash equivalents and marketable securities 3,355 3,862 
Accounts and notes receivable, net 4,209 3,820 
Inventories3,753 3,425 
Prepaid expenses and other current assets 805 790 
Total current assets 12,122 11,897 
Long-term assets   
Property, plant and equipment, net4,196 4,255 
Investments and advances related to equity method investees1,592 1,441 
Goodwill1,290 1,293 
Other intangible assets, net964 963 
Pension assets1,085 1,042 
Other assets1,713 1,733 
Total assets $22,962 $22,624 
LIABILITIES  
Current liabilities   
Accounts payable (principally trade) $3,279 $2,820 
Loans payable93 169 
Commercial paper317 323 
Accrued compensation, benefits and retirement costs 393 484 
Current portion of accrued product warranty623 674 
Current portion of deferred revenue773 691 
Other accrued expenses1,121 1,112 
Current maturities of long-term debt61 62 
Total current liabilities 6,660 6,335 
Long-term liabilities   
Long-term debt3,620 3,610 
Pensions and other postretirement benefits621 630 
Accrued product warranty692 672 
Deferred revenue828 840 
Other liabilities1,510 1,548 
Total liabilities $13,931 $13,635 
EQUITY
Cummins Inc. shareholders’ equity  
Common stock, $2.50 par value, 500 shares authorized, 222.4 and 222.4 shares issued $2,393 $2,404 
Retained earnings 15,825 15,419 
Treasury stock, at cost, 76.2 and 74.8 shares (8,172)(7,779)
Accumulated other comprehensive loss(1,937)(1,982)
Total Cummins Inc. shareholders’ equity 8,109 8,062 
Noncontrolling interests922 927 
Total equity $9,031 $8,989 
Total liabilities and equity $22,962 $22,624 
(a) Prepared on an unaudited basis in accordance with accounting principles generally accepted in the United States of America.


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CUMMINS INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited) (a)


 Three months ended
In millionsApril 4,
2021
March 29,
2020
CASH FLOWS FROM OPERATING ACTIVITIES
Consolidated net income $611 $528 
Adjustments to reconcile consolidated net income to net cash provided by operating activities  
Depreciation and amortization170 168 
Deferred income taxes8 (11)
Equity in income of investees, net of dividends(136)(78)
Pension and OPEB expense20 27 
Pension contributions and OPEB payments(51)(60)
Share-based compensation expense8 
Restructuring payments (48)
Loss (gain) on corporate owned life insurance 32 (17)
Foreign currency remeasurement and transaction exposure1 
Changes in current assets and liabilities
Accounts and notes receivable(374)107 
Inventories(336)(171)
Other current assets(24)79 
Accounts payable465 171 
Accrued expenses(24)(321)
Changes in other liabilities 28 
Other, net(31)(30)
Net cash provided by operating activities339 379 
CASH FLOWS FROM INVESTING ACTIVITIES   
Capital expenditures(87)(75)
Investments in internal use software(11)(8)
Investments in and advances to equity investees(24)(7)
Investments in marketable securities—acquisitions(143)(116)
Investments in marketable securities—liquidations207 95 
Cash flows from derivatives not designated as hedges14 
Other, net19 
Net cash used in investing activities(25)(99)
CASH FLOWS FROM FINANCING ACTIVITIES   
Net (payments) borrowings of commercial paper(6)957 
Payments on borrowings and finance lease obligations(16)(10)
Net (payments) borrowings under short-term credit agreements(102)25 
Distributions to noncontrolling interests(13)(13)
Dividend payments on common stock(197)(195)
Repurchases of common stock(418)(550)
Proceeds from issuing common stock 18 13 
Other, net(11)
Net cash (used in) provided by financing activities (745)234 
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS (12)48 
Net (decrease) increase in cash and cash equivalents(443)562 
Cash and cash equivalents at beginning of year 3,401 1,129 
CASH AND CASH EQUIVALENTS AT END OF PERIOD $2,958 $1,691 
(a)  Prepared on an unaudited basis in accordance with accounting principles generally accepted in the United States of America.

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CUMMINS INC. AND SUBSIDIARIES
SEGMENT INFORMATION
(Unaudited)

In millionsEngineDistributionComponentsPower SystemsNew PowerTotal Segments
Intersegment Eliminations (1)
Total
Three months ended April 4, 2021      
Segment sales$2,459 $1,835 $2,152 $1,022 $35 $7,503 $(1,411)$6,092 
Less: Intersegment sales564 8 428 410 1 1,411 (1,411) 
External sales1,895 1,827 1,724 612 34 6,092  6,092 
Research, development and engineering expenses92 13 75 57 23 260  260 
Equity, royalty and interest income from investees113 17 19 12 5 166  166 
Interest income3 1 1 1  6  6 
EBITDA (2)
354 160 421 126 (51)1,010 (30)980 
Depreciation and amortization (3)
51 30 48 35 5 169  169 
EBITDA as a percentage of segment sales14.4 %8.7 %19.6 %12.3 %NM13.5 %16.1 %
Three months ended March 29, 2020
Segment sales$2,158 $1,814 $1,502 $884 $10 $6,368 $(1,357)$5,011 
Less: Intersegment sales579 387 384 — 1,357 (1,357)— 
External sales1,579 1,807 1,115 500 10 5,011 — 5,011 
Research, development and engineering expenses80 68 54 29 238 — 238 
Equity, royalty and interest income from investees78 21 21 — 129 — 129 
Interest income— — 
EBITDA (2)
365 158 279 77 (43)836 10 846 
Depreciation and amortization (3)
53 31 48 32 168 — 168 
EBITDA as a percentage of segment sales16.9 %8.7 %18.6 %8.7 %NM13.1 %16.9 %
"NM" - not meaningful information
(1) Includes intersegment sales, intersegment profit in inventory eliminations and unallocated corporate expenses. There were no significant unallocated corporate expenses for the three months ended April 4, 2021 and March 29, 2020.
(2) EBITDA is defined as earnings or losses before interest expense, income taxes, depreciation and amortization and noncontrolling interests.
(3) Depreciation and amortization, as shown on a segment basis, excludes the amortization of debt discount and deferred costs included in the Condensed Consolidated Statements of Net Income as "Interest expense." The amortization of debt discount and deferred costs was $1 million and less than $1 million for the three months ended April 4, 2021 and March 29, 2020, respectively. A portion of depreciation expense is included in "Research, development and engineering expenses."


9


CUMMINS INC. AND SUBSIDIARIES
SEGMENT INFORMATION
(Unaudited)

A reconciliation of our segment information to the corresponding amounts in the Condensed Consolidated Statements of Net Income is shown in the table below:
 Three months ended
In millionsApril 4,
2021
March 29,
2020
TOTAL SEGMENT EBITDA$1,010 $836 
Add:
Intersegment elimination(30)10 
TOTAL EBITDA980 846 
Less:
Interest expense28 23 
Depreciation and amortization169 168 
INCOME BEFORE INCOME TAXES783 655 
Less: Income tax expense172 127 
CONSOLIDATED NET INCOME611 528 
Less: Net income attributable to noncontrolling interests8 17 
NET INCOME ATTRIBUTABLE TO CUMMINS INC.$603 $511 

10


CUMMINS INC. AND SUBSIDIARIES
SELECT FOOTNOTE DATA
(Unaudited)


EQUITY, ROYALTY AND INTEREST INCOME FROM INVESTEES

Equity, royalty and interest income from investees included in our Condensed Consolidated Statements of Net Income for the reporting periods was as follows:
 Three months ended
In millionsApril 4,
2021
March 29,
2020
Manufacturing entities
Beijing Foton Cummins Engine Co., Ltd.$39 $17 
Dongfeng Cummins Engine Company, Ltd.31 
Chongqing Cummins Engine Company, Ltd.10 
All other manufacturers61 

55 
(1)
Distribution entities
Komatsu Cummins Chile, Ltda.6 10 
All other distributors3 — 
Cummins share of net income150 99 
Royalty and interest income16 30 
Equity, royalty and interest income from investees$166 $129 
(1) Includes $37 million in favorable adjustments related to tax changes within India's 2020-2021 Union Budget of India (India Tax Law Changes) passed in March 2020.

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CUMMINS INC. AND SUBSIDIARIES
FINANCIAL MEASURES THAT SUPPLEMENT GAAP
(Unaudited)

Reconciliation of Non GAAP measures - Earnings before interest, income taxes, depreciation and amortization and noncontrolling interests (EBITDA)
We believe EBITDA is a useful measure of our operating performance as it assists investors and debt holders in comparing our performance on a consistent basis without regard to financing methods, capital structure, income taxes or depreciation and amortization methods, which can vary significantly depending upon many factors.
EBITDA is not in accordance with, or an alternative for, accounting principles generally accepted in the United States (GAAP) and may not be consistent with measures used by other companies. It should be considered supplemental data; however, the amounts included in the EBITDA calculation are derived from amounts included in the Condensed Consolidated Statements of Net Income. Below is a reconciliation of “Net income attributable to Cummins Inc.” to EBITDA for each of the applicable periods:
 Three months ended
In millionsApril 4,
2021
March 29,
2020
Net income attributable to Cummins Inc.$603 $511 
Net income attributable to Cummins Inc. as a percentage of net sales9.9 %10.2 %
Add:
Net income attributable to noncontrolling interests8 17 
Consolidated net income611 528 
Add:
Interest expense28 23 
Income tax expense172 127 
Depreciation and amortization169 168 
EBITDA$980 $846 
EBITDA as a percentage of net sales16.1 %16.9 %
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CUMMINS INC. AND SUBSIDIARIES
BUSINESS UNIT SALES DATA
(Unaudited)

Engine Segment Sales by Market and Unit Shipments by Engine Classification
Sales for our Engine segment by market were as follows:
2021     
In millionsQ1Q2Q3Q4YTD
Heavy-duty truck$827 $— $— $— $827 
Medium-duty truck and bus674 — — — 674 
Light-duty automotive481 — — — 481 
Off-highway477 — — — 477 
Total sales$2,459 $— $— $— $2,459 
2020     
In millionsQ1Q2Q3Q4YTD
Heavy-duty truck$750 $415 $694 $789 $2,648 
Medium-duty truck and bus618 391 492 565 2,066 
Light-duty automotive353 180 522 492 1,547 
Off-highway437 437 404 483 1,761 
Total sales$2,158 $1,423 $2,112 $2,329 $8,022 

Unit shipments by engine classification (including unit shipments to Power Systems and off-highway engine units included in their respective classification) were as follows:
2021     
UnitsQ1Q2Q3Q4YTD
Heavy-duty30,700 — — — 30,700 
Medium-duty73,100 — — — 73,100 
Light-duty68,500 — — — 68,500 
Total units172,300 — — — 172,300 
2020     
UnitsQ1Q2Q3Q4YTD
Heavy-duty25,800 15,900 23,300 27,500 92,500 
Medium-duty61,200 44,900 50,100 64,700 220,900 
Light-duty49,400 29,800 67,200 69,400 215,800 
Total units136,400 90,600 140,600 161,600 529,200 
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CUMMINS INC. AND SUBSIDIARIES
BUSINESS UNIT SALES DATA
(Unaudited)

Distribution Segment Sales by Product Line
Sales for our Distribution segment by product line were as follows:
2021     
In millionsQ1Q2Q3Q4YTD
Parts$757 $— $— $— $757 
Power generation418 — — — 418 
Engines334 — — — 334 
Service326 — — — 326 
Total sales$1,835 $— $— $— $1,835 
2020     
In millionsQ1Q2Q3Q4YTD
Parts$787 $654 $722 $768 $2,931 
Power generation376 377 416 523 1,692 
Engines323 277 279 371 1,250 
Service328 297 304 334 1,263 
Total sales$1,814 $1,605 $1,721 $1,996 $7,136 

Component Segment Sales by Business
Sales for our Components segment by business were as follows:
2021     
In millionsQ1Q2Q3Q4YTD
Emission solutions$1,035 $— $— $— $1,035 
Filtration372 — — — 372 
Turbo technologies367 — — — 367 
Electronics and fuel systems263 — — — 263 
Automated transmissions115 — — — 115 
Total sales$2,152 $— $— $— $2,152 
2020     
In millionsQ1Q2Q3Q4YTD
Emission solutions$664 $472 $665 $831 $2,632 
Filtration312 255 314 351 1,232 
Turbo technologies270 216 281 331 1,098 
Electronics and fuel systems174 164 187 229 754 
Automated transmissions82 43 94 89 308 
Total sales$1,502 $1,150 $1,541 $1,831 $6,024 
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CUMMINS INC. AND SUBSIDIARIES
BUSINESS UNIT SALES DATA
(Unaudited)

Power Systems Segment Sales by Product Line and Unit Shipments by Engine Classification
Sales for our Power Systems segment by product line were as follows:
2021     
In millionsQ1Q2Q3Q4YTD
Power generation$611 $— $— $— $611 
Industrial324 — — — 324 
Generator technologies87 — — — 87 
Total sales$1,022 $— $— $— $1,022 
2020     
In millionsQ1Q2Q3Q4YTD
Power generation$519 $424 $601 $623 $2,167 
Industrial296 291 309 292 1,188 
Generator technologies69 62 71 74 276 
Total sales$884 $777 $981 $989 $3,631 

High-horsepower unit shipments by engine classification were as follows:
2021     
UnitsQ1Q2Q3Q4YTD
Power generation2,100 — — — 2,100 
Industrial1,000 — — — 1,000 
Total units3,100 — — — 3,100 
2020     
UnitsQ1Q2Q3Q4YTD
Power generation1,800 1,000 2,300 2,600 7,700 
Industrial1,000 1,000 1,200 1,100 4,300 
Total units2,800 2,000 3,500 3,700 12,000 


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