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SELECTED QUARTERLY FINANCIAL DATA
UNAUDITED
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First
Quarter |
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Second
Quarter |
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Third
Quarter |
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Fourth
Quarter |
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| In millions, except per share amounts |
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2020 |
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| Net sales |
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$ |
5,011
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$ |
3,852
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$ |
5,118
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$ |
5,830
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| Gross margin |
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1,294
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890
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1,349
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1,361
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| Net income attributable to Cummins Inc. |
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511
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276
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501
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501
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| Earnings per common share attributable to Cummins Inc.—basic |
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$ |
3.42
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$ |
1.87
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$ |
3.39
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$ |
3.39
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Earnings per common share attributable to Cummins Inc.—diluted (1)
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3.41
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1.86
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3.36
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3.36
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| Cash dividends per share |
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1.311
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1.311
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1.311
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1.35
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| Stock price per share |
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| High |
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$ |
180.88
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$ |
184.94
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$ |
215.43
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$ |
244.67
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| Low |
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101.03
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127.30
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170.19
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203.51
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2019 |
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| Net sales |
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$ |
6,004 |
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$ |
6,221 |
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$ |
5,768 |
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$ |
5,578 |
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| Gross margin |
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1,532 |
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1,641 |
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1,494 |
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1,313 |
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| Net income attributable to Cummins Inc. |
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663 |
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675 |
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622 |
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300 |
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(2) |
Earnings per common share attributable to Cummins Inc.—basic (1)
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$ |
4.22 |
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$ |
4.29 |
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$ |
3.99 |
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$ |
1.98 |
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(2) |
Earnings per common share attributable to Cummins Inc.—diluted (1)
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4.20 |
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4.27 |
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3.97 |
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1.97 |
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(2) |
| Cash dividends per share |
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1.14 |
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1.14 |
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1.311 |
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1.311 |
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| Stock price per share |
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| High |
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$ |
162.34 |
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$ |
171.84 |
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$ |
175.91 |
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$ |
186.73 |
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| Low |
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130.03 |
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150.48 |
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141.14 |
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151.15 |
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(1)Earnings per share in each quarter is computed using the weighted-average number of shares outstanding during that quarter while earnings per share for the full year is computed using the weighted-average number of shares outstanding during the year. Thus, the sum of the four quarters earnings per share may not equal the full year earnings per share.
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(2) Net income attributable to Cummins Inc. and earnings per share were negatively impacted by $119 million ($90 million after-tax) of restructuring actions in the fourth quarter of 2019 ($0.59 per basic share and $0.59 per diluted share).
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At December 31, 2020, there were approximately 2,637 holders of record of Cummins Inc.'s $2.50 par value common stock.
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