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 1,577     1,562       1,562 15
Other comprehensive income, net of tax (Note 14) (336)           (296) (296) (40)
Issuance of common stock 10   10         10  
Employee benefits trust activity 11   10     1   11  
Repurchases of common stock (879)   (100)   (779)     (879)  
Cash dividends on common stock (537)     (537)       (537)  
Distributions to noncontrolling interests (30)               (30)
Stock-based awards 7   (3)   10     7  
Other shareholder transactions 43   24         24 19
BALANCE AT END OF PERIOD at Sep. 30, 2018 8,060 556 1,595 12,519 (5,674) (6) (1,799) 7,191 869
BALANCE AT BEGINNING OF PERIOD at Jul. 01, 2018 8,194 556 1,683 12,009 (5,276) (6) (1,667) 7,299 895
Increase (Decrease) in Shareholders' Equity                  
Net income 698     692       692 6
Other comprehensive income, net of tax (Note 14) (149)         (132) (132) (17)
Issuance of common stock 2   2         2  
Employee benefits trust activity 2   2     2  
Repurchases of common stock (500)   (100)   (400)   (500)  
Cash dividends on common stock (182)     (182)       (182)  
Distributions to noncontrolling interests (19)               (19)
Stock-based awards 3   1   2   3  
Other shareholder transactions 11   7         7 4
BALANCE AT END OF PERIOD at Sep. 30, 2018 8,060 556 1,595 12,519 (5,674) (6) (1,799) 7,191 869
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 1,970     1,960       1,960 10
Other comprehensive income, net of tax (Note 14) (235)           (233) (233) (2)
Issuance of common stock 2   2         2  
Employee benefits trust activity 28   26     2   28  
Repurchases of common stock (806)     (806)     (806)  
Cash dividends on common stock (562)     (562)       (562)  
Distributions to noncontrolling interests (33)               (33)
Stock-based awards 48   (2)   50     48  
Other shareholder transactions 82   25         25 57
BALANCE AT END OF PERIOD at Sep. 29, 2019 8,753 556 1,766 14,315 (6,784) (3) (2,040) 7,810 943
BALANCE AT BEGINNING OF PERIOD at Jun. 30, 2019 9,196 556 1,751 13,897 (6,082) (4) (1,840) 8,278 918
Increase (Decrease) in Shareholders' Equity                  
Net income 616     622       622 (6)
Other comprehensive income, net of tax (Note 14) (205)         (200) (200) (5)
Employee benefits trust activity 7   6   1   7  
Repurchases of common stock (706)     (706)   (706)  
Cash dividends on common stock (204)     (204)       (204)  
Distributions to noncontrolling interests (20)               (20)
Stock-based awards 5   1   4   5  
Other shareholder transactions 64   8         8 56
BALANCE AT END OF PERIOD at Sep. 29, 2019 $ 8,753 $ 556 $ 1,766 $ 14,315 $ (6,784) $ (3) $ (2,040) $ 7,810 $ 943
[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.