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
Sep. 28, 2014
Dec. 31, 2013
Current assets    
Cash and cash equivalents $ 2,328 $ 2,699
Marketable securities (Note 7) 53 150
Total cash, cash equivalents and marketable securities 2,381 2,849
Accounts and notes receivable, net    
Trade and other 2,774 2,362
Nonconsolidated equity investees 285 287
Inventories (Note 8) 2,833 2,381
Prepaid expenses and other current assets 795 760
Total current assets 9,068 8,639
Long-term assets    
Property, plant and equipment 6,899 6,410
Accumulated depreciation (3,435) (3,254)
Property, plant and equipment, net 3,464 3,156
Investments and advances related to equity method investees (Note 5) 981 931
Goodwill 465 461
Other intangible assets, net 346 357
Prepaid pensions 701 514
Other assets 619 670
Total assets 15,644 14,728
Current liabilities    
Loans payable 78 17
Accounts payable (principally trade) 1,930 1,557
Current maturities of long-term debt (Note 9) 27 51
Current portion of accrued product warranty (Note 10) 351 360
Accrued compensation, benefits and retirement costs 507 433
Deferred revenue 328 285
Taxes payable (including taxes on income) 134 99
Other accrued expenses 683 566
Total current liabilities 4,038 3,368
Long-term liabilities    
Long-term debt (Note 9) 1,584 1,672
Pensions 234 232
Postretirement benefits other than pensions 333 356
Other liabilities and deferred revenue 1,358 1,230
Total liabilities 7,547 6,858
Cummins Inc. shareholders' equity    
Common stock, $2.50 par value, 500 shares authorized, 222.3 and 222.3 shares issued 2,125 2,099
Retained earnings 9,243 8,406
Treasury stock, at cost, 39.6 and 35.6 shares (2,779) (2,195)
Common stock held by employee benefits trust, at cost, 1.1 and 1.3 shares (14) (16)
Accumulated other comprehensive loss (Note 13)    
Defined benefit postretirement plans (583) (611)
Other (244) (173)
Total accumulated other comprehensive loss (827) (784)
Total Cummins Inc. shareholders' equity 7,748 7,510
Noncontrolling interests 349 360
Total equity 8,097 7,870
Total liabilities and equity $ 15,644 $ 14,728