Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY

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CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($)
$ in Millions
Total
Common Stock
Additional Paid-in Capital
Retained Earnings
Treasury Stock
Common Stock Held in Trust
Accumulated Other Comprehensive Loss
Total Cummins Inc. Shareholders' Equity
Noncontrolling Interests
BALANCE AT BEGINNING OF PERIOD at Dec. 31, 2017 $ 8,164 $ 556 $ 1,654 $ 11,464 $ (4,905) $ (7) $ (1,503) $ 7,259 $ 905
Increase (Decrease) in Shareholders' Equity                  
Adoption of new accounting standards (1) [1] 30     30       30  
Net income 879     870       870 9
Other comprehensive income, net of tax (Note 13) (187)           (164) (164) (23)
Issuance of common stock 8   8         8  
Employee benefits trust activity 9   8     1   9  
Repurchases of common stock (379)       (379)     (379)  
Cash dividends on common stock (355)     (355)       (355)  
Distributions to noncontrolling interests (11)               (11)
Stock based awards 4   (4)   8     4  
Other shareholder transactions 32   17         17 15
BALANCE AT END OF PERIOD at Jul. 01, 2018 8,194 556 1,683 12,009 (5,276) (6) (1,667) 7,299 895
BALANCE AT BEGINNING OF PERIOD at Apr. 01, 2018 8,296 556 1,661 11,641 (5,061) (6) (1,397) 7,394 902
Increase (Decrease) in Shareholders' Equity                  
Net income 554     545       545 9
Other comprehensive income, net of tax (Note 13) (286)         (270) (270) (16)
Issuance of common stock 5   5         5  
Employee benefits trust activity 2   2       2  
Repurchases of common stock (216)       (216)   (216)  
Cash dividends on common stock (177)     (177)       (177)  
Stock based awards 1     1   1  
Other shareholder transactions 15   15         15  
BALANCE AT END OF PERIOD at Jul. 01, 2018 8,194 556 1,683 12,009 (5,276) (6) (1,667) 7,299 895
BALANCE AT BEGINNING OF PERIOD at Dec. 31, 2018 8,259 556 1,715 12,917 (6,028) (5) (1,807) 7,348 911
Increase (Decrease) in Shareholders' Equity                  
Net income 1,354     1,338       1,338 16
Other comprehensive income, net of tax (Note 13) (30)           (33) (33) 3
Issuance of common stock 2   2         2  
Employee benefits trust activity 21   20     1   21  
Repurchases of common stock (100)       (100)     (100)  
Cash dividends on common stock (358)     (358)       (358)  
Distributions to noncontrolling interests (13)               (13)
Stock based awards 43   (3)   46     43  
Other shareholder transactions 18   17         17 1
BALANCE AT END OF PERIOD at Jun. 30, 2019 9,196 556 1,751 13,897 (6,082) (4) (1,840) 8,278 918
BALANCE AT BEGINNING OF PERIOD at Mar. 31, 2019 8,727 556 1,717 13,401 (6,111) (4) (1,739) 7,820 907
Increase (Decrease) in Shareholders' Equity                  
Net income 685     675       675 10
Other comprehensive income, net of tax (Note 13) (101)         (101) (101) 0
Issuance of common stock 1   1         1  
Employee benefits trust activity 7   7       7  
Cash dividends on common stock (179)     (179)       (179)  
Stock based awards 37   8   29   37  
Other shareholder transactions 19   18         18 1
BALANCE AT END OF PERIOD at Jun. 30, 2019 $ 9,196 $ 556 $ 1,751 $ 13,897 $ (6,082) $ (4) $ (1,840) $ 8,278 $ 918
[1] Includes $28 million related to adoption of the revenue recognition standard and $2 million related to adoption of the accounting for certain financial instruments standard. See Note 1, “SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Recently Adopted and Recently Issued Accounting Pronouncements” of the Notes to the Consolidated Financial Statements of our 2018 Form 10-K for additional information.