Annual report pursuant to Section 13 and 15(d)

QUARTERLY FINANCIAL INFORMATION DISCLOSURE (unaudited) (Tables)

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QUARTERLY FINANCIAL INFORMATION DISCLOSURE (unaudited) (Tables)
 12 Months Ended
Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Financial Information
First
Quarter		 Second
Quarter		 Third
Quarter		 Fourth
Quarter
In millions, except per share amounts 2020
Net sales $ 5,011  $ 3,852  $ 5,118  $ 5,830 
Gross margin 1,294  890  1,349  1,361 
Net income attributable to Cummins Inc. 511  276  501  501 
Earnings per common share attributable to Cummins Inc.—basic $ 3.42  $ 1.87  $ 3.39  $ 3.39 
Earnings per common share attributable to Cummins Inc.—diluted (1)
3.41  1.86  3.36  3.36 
Cash dividends per share 1.311  1.311  1.311  1.35 
Stock price per share        
High $ 180.88  $ 184.94  $ 215.43  $ 244.67 
Low 101.03  127.30  170.19  203.51 

  2019
Net sales $ 6,004  $ 6,221  $ 5,768  $ 5,578 
Gross margin 1,532  1,641  1,494  1,313 
Net income attributable to Cummins Inc. 663  675  622  300 
(2)
Earnings per common share attributable to Cummins Inc.—basic (1)
$ 4.22  $ 4.29  $ 3.99  $ 1.98 
(2)
Earnings per common share attributable to Cummins Inc.—diluted (1)
4.20  4.27  3.97  1.97 
(2)
Cash dividends per share 1.14  1.14  1.311  1.311 
Stock price per share        
High $ 162.34  $ 171.84  $ 175.91  $ 186.73 
Low 130.03  150.48  141.14  151.15 
(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.
(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).