Annual report [Section 13 and 15(d), not S-K Item 405]

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
shares in Millions, $ in Millions
Dec. 31, 2025
Dec. 31, 2024
Statement of Financial Position [Abstract]    
Common stock, par value (in dollars per share) $ 2.50  
Common stock, shares authorized 500.0  
Common stock, shares issued 222.5 222.5
Treasury Stock, Common, Shares 84.4 85.1
Current assets    
Cash and cash equivalents $ 2,845 $ 1,671
Marketable securities (Note 5) 764 593
Cash, cash equivalents and marketable securities 3,609 2,264
Accounts and notes receivable, net    
Trade and other 5,818 5,181
Inventories (Note 6) 5,822 5,742
Prepaid expenses and other current assets 1,676 1,565
Total current assets 16,925 14,752
Long-term assets    
Property, plant and equipment, net (Note 7) 6,958 6,356
Investments and advances related to equity method investees (Note 3) 2,133 1,889
Goodwill (Note 9) 2,224 2,370
Other intangible assets, net (Note 9) 2,167 2,351
Pension assets (Note 10) 1,033 1,189
Other assets (Note 11) 2,552 2,633
Total assets 33,992 31,540
Current liabilities    
Accounts payable (principally trade) 3,800 3,951
Loans payable (Note 12) 313 356
Commercial paper (Note 12) 353 1,259
Current maturities of long-term debt (Note 12) 94 660
Accrued compensation, benefits and retirement costs 825 1,084
Current portion of accrued product warranty (Note 13) 693 679
Current portion of deferred revenue (Note 2) 1,606 1,347
Other accrued expenses (Note 11) 1,926 1,898
Total current liabilities 9,610 11,234
Long-term liabilities    
Long-term debt (Note 12) 6,792 4,784
Deferred revenue (Note 2) 1,054 1,065
Other liabilities (Note 11) 3,128 3,149
Total liabilities 20,584 20,232
Commitments and contingencies (Note 14)
Cummins Inc. shareholders’ equity (Note 15)    
Common stock, $2.50 par value, 500 shares authorized, 222.5 and 222.5 shares issued 2,673 2,636
Retained earnings 22,616 20,828
Treasury stock, at cost, 84.4 and 85.1 shares (10,662) (10,748)
Accumulated other comprehensive loss (Note 16) (2,278) (2,445)
Total Cummins Inc. shareholders' equity 12,349 10,271
Noncontrolling interests (Note 17) 1,059 1,037
Total equity 13,408 11,308
Total liabilities and equity $ 33,992 $ 31,540