Quarterly report pursuant to Section 13 or 15(d)

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)

v3.21.2
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)
 9 Months Ended
Oct. 03, 2021
Equity [Abstract]  
Changes in accumulated other comprehensive loss by component
Following are the changes in accumulated other comprehensive income (loss) by component for the three months ended:
In millions Change in pensions
and other
postretirement
defined benefit plans		 Foreign currency
translation
adjustment		 Unrealized gain
(loss) on
derivatives		 Total
attributable to
Cummins Inc.		 Noncontrolling
interests		 Total
Balance at July 4, 2021 $ (689) $ (1,231) $ (9) $ (1,929)    
Other comprehensive income before reclassifications            
Before-tax amount 1  (2) 5  4  $ 2  $ 6 
Tax expense (1) —  (3) (4) —  (4)
After-tax amount —  (2) 2  —  2  2 
Amounts reclassified from accumulated other comprehensive income (loss)(1)
17  —  1  18  —  18 
Net current period other comprehensive income (loss) 17  (2) 3  18  $ 2  $ 20 
Balance at October 3, 2021 $ (672) $ (1,233) $ (6) $ (1,911)    
Balance at June 28, 2020 $ (716) $ (1,436) $ (90) $ (2,242)    
Other comprehensive income before reclassifications            
Before-tax amount —  101  23  124  $ 10  $ 134 
Tax expense —  —  (5) (5) —  (5)
After-tax amount —  101  18  119  10  129 
Amounts reclassified from accumulated other comprehensive income (loss)(1)
16  —  —  16  —  16 
Net current period other comprehensive income 16  101  18  135  $ 10  $ 145 
Balance at September 27, 2020 $ (700) $ (1,335) $ (72) $ (2,107)    
(1) Amounts are net of tax. Reclassifications out of accumulated other comprehensive income (loss) and the related tax effects are immaterial for separate disclosure.
Following are the changes in accumulated other comprehensive income (loss) by component for the nine months ended:
In millions Change in pensions
and other
postretirement
defined benefit plans		 Foreign currency
translation
adjustment		 Unrealized gain
(loss) on
derivatives		 Total
attributable to
Cummins Inc.		 Noncontrolling
interests		 Total
Balance at December 31, 2020 $ (735) $ (1,204) $ (43) $ (1,982)    
Other comprehensive income before reclassifications            
Before-tax amount 16  (33) 53  36  $ (5) $ 31 
Tax (expense) benefit (3) 4  (16) (15) —  (15)
After-tax amount 13  (29) 37  21  (5) 16 
Amounts reclassified from accumulated other comprehensive income (loss)(1)
50  —  —  50  —  50 
Net current period other comprehensive income (loss) 63  (29) 37 
(2)
 71  $ (5) $ 66 
Balance at October 3, 2021 $ (672) $ (1,233) $ (6) $ (1,911)    
Balance at December 31, 2019 $ (734) $ (1,285) $ (9) $ (2,028)    
Other comprehensive income before reclassifications            
Before-tax amount (19) (54) (75) (148) $ (12) $ (160)
Tax benefit 5  4  16  25  —  25 
After-tax amount (14) (50) (59) (123) (12) (135)
Amounts reclassified from accumulated other comprehensive income (loss)(1)
48  —  (4) 44  —  44 
Net current period other comprehensive income (loss) 34  (50) (63)
(2)
 (79) $ (12) $ (91)
Balance at September 27, 2020 $ (700) $ (1,335) $ (72) $ (2,107)    
(1) Amounts are net of tax. Reclassifications out of accumulated other comprehensive income (loss) and the related tax effects are immaterial for separate disclosure.
(2) Primarily related to interest rate lock activity. See the Interest Rate Risk section in NOTE 9 "DEBT" for additional information.