Cummins Inc. Annual report pursuant to Section 13 and 15(d)

ACQUISITIONS (Tables)

12 Months Ended

Dec. 31, 2020

Acquisitions for the years ended December 31, 2019 and 2018, were as follows:


Entity Acquired (Dollars in millions)	Date of Acquisition	Percent Interest Acquired	Payments to Former Owners		Acquisition Related Debt Retirements		Total Purchase Consideration(1)		Goodwill Recognized		Intangibles Recognized(2)		Net Sales Previous Fiscal Year Ended
2019
Hydrogenics Corporation	9/09/19	81%	$	235	$	—	$	235	$	161	$	161	$	34

2018
Efficient Drivetrains, Inc.	8/15/18	100%	$	62	$	2	$	64	$	49	$	15	$	3



























(1) All results from acquired entities were included in segment results subsequent to the acquisition date. Newly consolidated entities were accounted for as business combinations and were included in the New Power segment on the date of acquisition.
(2) Intangible assets acquired in business combinations were mostly customer and technology related, the majority of which will be amortized over a period of up to 20 years from the date of the acquisition.

The purchase price allocation was as follows:


In millions
Inventory	$	21
Other current assets	25
Intangible assets
Technology assets	96
Customer relationships	29
In-process research and development	35
Other intangible assets	1
Goodwill	161
Other assets	18
Current liabilities	(53)
Other liabilities	(42)
Total business valuation	291
Less: Noncontrolling interest	56
Total purchase consideration	$	235