Cummins Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

ACQUISITION ACQUISITION (Tables)

ACQUISITION ACQUISITION (Tables)

9 Months Ended

Sep. 29, 2019

Schedule of Business Acquisitions, by Acquisition

Acquisitions for the nine months ended September 29, 2019 and September 30, 2018 were as follows:



Entity Acquired (Dollars in millions)	Date of Acquisition	Additional Percent Interest Acquired	Payments to Former Owners		Acquisition Related Debt Retirements		Total Purchase Consideration			Type of Acquisition⁽¹⁾	Goodwill Acquired		Intangibles Recognized⁽²⁾		Net Sales Previous Fiscal Year Ended
2019
Hydrogenics Corporation	09/09/19	81%	$	235	$	—	$	235		COMB	$	166	$	158	$	34
2018
Efficient Drivetrains, Inc.	08/15/18	100%	$	51	$	2	$	64	⁽³⁾	COMB	$	49	$	15	$	3
Johnson Matthey Battery Systems, Ltd.	01/31/18	100%	9		—		9			COMB	—		5		3

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⁽¹⁾Newly consolidated entities were accounted for as business combinations (COMB) and were included in the Electrified Power Segment on the date of acquisition.

⁽²⁾Intangible assets acquired in business combinations were mostly technology and customer related, the majority of which will be amortized over a period of up to 20 years from the date of the acquisition.

⁽³⁾The "Total Purchase Consideration" represents the total amount that will or is estimated to be paid to complete the acquisition. A portion of the acquisition payment has not yet been made and will be paid in future periods in accordance with the purchase contract.

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed



In millions
Inventory	$	21
Other current assets	25
Intangible assets
Technology assets	94
Customer relationships	28
In-process research and development	35
Other intangible assets	1
Goodwill	166
Other assets	18
Current liabilities	(50		)
Other liabilities	(47		)
Total business valuation	291
Less: Noncontrolling interest	56
Total purchase consideration	$	235