Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)
In Millions, unless otherwise specified
Jun. 29, 2014
Dec. 31, 2013
Current assets    
Cash and cash equivalents $ 2,219 $ 2,699
Marketable securities (Note 7) 158 150
Total cash, cash equivalents and marketable securities 2,377 2,849
Accounts and notes receivable, net    
Trade and other 2,845 2,362
Nonconsolidated equity investees 343 287
Inventories (Note 8) 2,745 2,381
Prepaid expenses and other current assets 770 760
Total current assets 9,080 8,639
Long-term assets    
Property, plant and equipment 6,739 6,410
Accumulated depreciation (3,410) (3,254)
Property, plant and equipment, net 3,329 3,156
Investments and advances related to equity method investees (Note 5) 934 931
Goodwill 465 461
Other intangible assets, net 353 357
Prepaid pensions 671 514
Other assets 668 670
Total assets 15,500 14,728
Current liabilities    
Loans payable 30 17
Accounts payable (principally trade) 1,905 1,557
Current maturities of long-term debt (Note 9) 33 51
Current portion of accrued product warranty (Note 10) 353 360
Accrued compensation, benefits and retirement costs 401 433
Deferred revenue 316 285
Taxes payable (including taxes on income) 125 99
Other accrued expenses 646 566
Total current liabilities 3,809 3,368
Long-term liabilities    
Long-term debt (Note 9) 1,627 1,672
Pensions 233 232
Postretirement benefits other than pensions 341 356
Other liabilities and deferred revenue 1,332 1,230
Total liabilities 7,342 6,858
Cummins Inc. shareholders' equity    
Common stock, $2.50 par value, 500 shares authorized, 222.3 and 222.3 shares issued 2,113 2,099
Retained earnings 8,961 8,406
Treasury stock, at cost, 38.4 and 35.6 shares (2,604) (2,195)
Common stock held by employee benefits trust, at cost, 1.2 and 1.3 shares (14) (16)
Accumulated other comprehensive loss (Note 13)    
Defined benefit postretirement plans (597) (611)
Other (72) (173)
Total accumulated other comprehensive loss (669) (784)
Total Cummins Inc. shareholders' equity 7,787 7,510
Noncontrolling interests 371 360
Total equity 8,158 7,870
Total liabilities and equity $ 15,500 $ 14,728