Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS (USD $)
In Millions, unless otherwise specified
Dec. 31, 2012
Dec. 31, 2011
Current assets    
Cash and cash equivalents $ 1,369 $ 1,484
Marketable securities (Note 5) 247 277
Total cash, cash equivalents and marketable securities 1,616 1,761
Accounts and notes receivable, net    
Trade and other 2,235 2,252
Nonconsolidated equity investees 240 274
Inventories (Note 7) 2,221 2,141
Prepaid expenses and other current assets 855 663
Total current assets 7,167 7,091
Long-term assets    
Property, plant and equipment, net (Note 8) 2,724 2,288
Investments and advances related to equity method investees (Note 3) 897 838
Goodwill (Note 9) 445 339
Other intangible assets, net (Note 9) 369 227
Other assets 946 885
Total assets 12,548 11,668
Current liabilities    
Loans payable (Note 10) 16 28
Accounts payable (principally trade) 1,339 1,546
Current maturities of long-term debt (Note 10) 61 97
Current portion of accrued product warranty (Note 11) 386 422
Accrued compensation, benefits and retirement costs 400 511
Deferred revenue 215 208
Taxes payable (including taxes on income) 173 282
Other accrued expenses 546 563
Total current liabilities 3,136 3,657
Long-term liabilities    
Long-term debt (Note 10) 698 658
Postretirement benefits other than pensions (Note 12) 432 432
Other liabilities and deferred revenue (Note 13) 1,308 1,090
Total liabilities 5,574 5,837
Commitments and contingencies (Note 14)      
Cummins Inc. shareholders' equity (Note 15)    
Common stock, $2.50 par value, 500 shares authorized, 222.4 and 222.2 shares issued 2,058 2,001
Retained earnings 7,343 6,038
Treasury stock, at cost, 32.6 and 30.2 shares (1,830) (1,587)
Common stock held by employee benefits trust, at cost, 1.5 and 1.8 shares (18) (22)
Accumulated other comprehensive loss    
Defined benefit postretirement plans (794) (724)
Other (156) (214)
Total accumulated other comprehensive loss (950) (938)
Total Cummins Inc. shareholders' equity 6,603 5,492
Noncontrolling interests (Note 18) 371 339
Total equity 6,974 5,831
Total liabilities and equity $ 12,548 $ 11,668