Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY

v3.22.2.2
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($)
$ in Millions
Total
Redeemable Noncontrolling Interest
Common Stock
Additional Paid-in Capital
Retained Earnings
Treasury Stock
Accumulated Other Comprehensive Loss
Total Cummins Inc. Shareholders' Equity
Noncontrolling Interests
us-gaap_Net Income in Total Equity Excluding Noncontrolling Interest Amount
Statement of Stockholders' Equity [Abstract]                    
CASH DIVIDENDS DECLARED PER COMMON SHARE (in dollars per share) $ 4.15                  
Redeemable noncontrolling interests (Notes 1 and 14) at Dec. 31, 2020   $ 282                
BALANCE AT BEGINNING OF PERIOD at Dec. 31, 2020 $ 8,707   $ 556 $ 1,617 $ 15,419 $ (7,779) $ (1,982) $ 7,831 $ 876  
Increase (Decrease) in Shareholders' Equity                    
Net Income (Loss) Attributable to Redeemable Noncontrolling Interest   (9)                
CONSOLIDATED NET INCOME 1,764       1,737     1,737 36 $ 1,773
Other comprehensive income (loss), net of tax (Note 15) 66           71 71 (5)  
Issuance of common stock 1     1       1    
Repurchases of common stock (1,228)       (1,228)   (1,228)    
Cash dividends on common stock (601)       (601)     (601)    
Distributions to noncontrolling interests (28)               (28)  
Share-based awards 27     (4)   31   27    
Fair value adjustment of redeemable noncontrolling interests (28) 28   (28)       (28)    
Other shareholder transactions 13     11   2   13 0  
Balance at End of Period Redeemable Noncontrolling Interest, Equity, Carrying Amount at Oct. 03, 2021   301                
BALANCE AT END OF PERIOD at Oct. 03, 2021 $ 8,702   556 1,597 16,555 (8,974) (1,911) 7,823 879  
Statement of Stockholders' Equity [Abstract]                    
CASH DIVIDENDS DECLARED PER COMMON SHARE (in dollars per share) $ 1.45                  
Redeemable noncontrolling interests (Notes 1 and 14) at Jul. 04, 2021   346                
BALANCE AT BEGINNING OF PERIOD at Jul. 04, 2021 $ 8,447   556 1,548 16,228 (8,838) (1,929) 7,565 882  
Increase (Decrease) in Shareholders' Equity                    
Net Income (Loss) Attributable to Redeemable Noncontrolling Interest   (3)                
CONSOLIDATED NET INCOME 541       534     534 10 544
Other comprehensive income (loss), net of tax (Note 15) 20           18 18 2  
Repurchases of common stock (138)       (138) (138)    
Cash dividends on common stock (207)       (207)     (207)    
Distributions to noncontrolling interests (15)               (15)  
Share-based awards 1       1 1    
Fair value adjustment of redeemable noncontrolling interests 42 (42)   42       42    
Other shareholder transactions 8     7   1   8    
Balance at End of Period Redeemable Noncontrolling Interest, Equity, Carrying Amount at Oct. 03, 2021   301                
BALANCE AT END OF PERIOD at Oct. 03, 2021 $ 8,702   556 1,597 16,555 (8,974) (1,911) 7,823 879  
Statement of Stockholders' Equity [Abstract]                    
CASH DIVIDENDS DECLARED PER COMMON SHARE (in dollars per share) $ 4.47                  
Redeemable noncontrolling interests (Notes 1 and 14) at Dec. 31, 2021 $ 366 366                
BALANCE AT BEGINNING OF PERIOD at Dec. 31, 2021 9,035   556 1,543 16,741 (9,123) (1,571) 8,146 889  
Increase (Decrease) in Shareholders' Equity                    
Net Income (Loss) Attributable to Redeemable Noncontrolling Interest   (18)                
CONSOLIDATED NET INCOME 1,539       1,520     1,520 37 1,557
Other comprehensive income (loss), net of tax (Note 15) (480)           (442) (442) (38)  
Issuance of common stock 8     8       8    
Repurchases of common stock (370)       (370)   (370)    
Cash dividends on common stock (633)       (633)     (633)    
Distributions to noncontrolling interests (38)               (38)  
Share-based awards 36     (3)   39   36    
Acquisition of business 111             0 111  
Fair value adjustment of redeemable noncontrolling interests 96 (96)   96       96    
Other shareholder transactions 36     14   5   19 17  
Balance at End of Period Redeemable Noncontrolling Interest, Equity, Carrying Amount at Sep. 30, 2022 252 252                
BALANCE AT END OF PERIOD at Sep. 30, 2022 $ 9,358   556 1,658 17,628 (9,449) (2,013) 8,380 978  
Statement of Stockholders' Equity [Abstract]                    
CASH DIVIDENDS DECLARED PER COMMON SHARE (in dollars per share) $ 1.57                  
Redeemable noncontrolling interests (Notes 1 and 14) at Jun. 30, 2022   226                
BALANCE AT BEGINNING OF PERIOD at Jun. 30, 2022 $ 9,429   556 1,668 17,450 (9,439) (1,696) 8,539 890  
Increase (Decrease) in Shareholders' Equity                    
Net Income (Loss) Attributable to Redeemable Noncontrolling Interest   (7)                
CONSOLIDATED NET INCOME 409       400     400 16 $ 416
Other comprehensive income (loss), net of tax (Note 15) (332)           (317) (317) (15)  
Issuance of common stock 7     7       7    
Repurchases of common stock (23)       (23) (23)    
Cash dividends on common stock (222)       (222)     (222)    
Distributions to noncontrolling interests (24)               (24)  
Share-based awards 17     4   13 17    
Acquisition of business 111             0 111  
Fair value adjustment of redeemable noncontrolling interests (33) 33   (33)       (33)    
Other shareholder transactions 12     12       12 0  
Balance at End of Period Redeemable Noncontrolling Interest, Equity, Carrying Amount at Sep. 30, 2022 252 $ 252                
BALANCE AT END OF PERIOD at Sep. 30, 2022 $ 9,358   $ 556 $ 1,658 $ 17,628 $ (9,449) $ (2,013) $ 8,380 $ 978