Cummins Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Cover
- Document and Entity Information
Financial Statements
Notes to Financial Statements
Notes Tables
Notes Details

DEBT (Details)

v2.4.0.8

DEBT (Details) (USD $) In Millions, unless otherwise specified	Jun. 30, 2013	Dec. 31, 2012
Long-term debt
Long-term debt gross	$ 673	$ 653
Unamortized discount	(35)	(35)
Fair value adjustment due to hedge on indebtedness	60	88
Capital leases	99	53
Total long-term debt	797	759
Less: Current maturities of long-term debt	(43)	(61)
Long-term debt	754	698
Principal payments required on long-term debt
2013	23
2014	46
2015	76
2016	82
2017	14
Export financing loan, 4.5%, due 2013
Long-term debt
Debt instrument interest rate (as a percent)	4.50%
Long-term debt gross		23
Debentures, 6.75%, due 2027
Long-term debt
Debt instrument interest rate (as a percent)	6.75%
Long-term debt gross	58	58
Debentures, 7.125%, due 2028
Long-term debt
Debt instrument interest rate (as a percent)	7.125%
Long-term debt gross	250	250
Debentures, 5.65%, due 2098 (effective interest rate 7.48%)
Long-term debt
Debt instrument interest rate (as a percent)	5.65%
Effective interest rate (as a percent)	7.48%
Long-term debt gross	165	165
Credit facilities related to consolidated joint ventures
Long-term debt
Long-term debt gross	125	88
Other long-term debt
Long-term debt
Long-term debt gross	$ 75	$ 69

- Definition

Amount equal to the present value (the principal) at the beginning of the lease term of minimum lease payments during the lease term (excluding that portion of the payments representing executory costs such as insurance, maintenance, and taxes to be paid by the lessor, together with any profit thereon) net of payments or other amounts applied to the principal, through the balance sheet date and due to be paid more than one year (or one operating cycle, if longer) after the balance sheet date.

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Effective interest rate for the funds borrowed under the debt agreement considering interest compounding and original issue discount or premium.

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Carrying amount of long-term debt, net of unamortized discount or premium, including current and noncurrent amounts. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.

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