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

Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) $ in Millions	Total	Cumulative Effect, Period of Adoption, Adjustment	Redeemable Noncontrolling Interest	Common Stock	Additional paid-in Capital	Retained Earnings	Retained Earnings Cumulative Effect, Period of Adoption, Adjustment	Treasury Stock	Common Stock Held in Trust	Accumulated Other Comprehensive Loss	Total Cummins Inc. Shareholders' Equity	Total Cummins Inc. Shareholders' Equity Cumulative Effect, Period of Adoption, Adjustment	Noncontrolling interests	us-gaap_NetIncomeinTotalEquityexcludingNoncontrollingInterestAmount
Increase (Decrease) in Shareholders' Equity
Redeemable Noncontrolling Interest, Equity, Carrying Amount			$ 58
BALANCE, AT THE BEGINNING OF THE PERIOD at Dec. 31, 2019	$ 8,407	$ (4)		$ 556	$ 1,790	$ 14,416	$ (4)	$ (7,225)	$ (2)	$ (2,028)	$ 7,507	$ (4)	$ 900
Increase (Decrease) in Shareholders' Equity
Net Income (Loss) Attributable to Redeemable Noncontrolling Interest			(4)
Net income	1,811					1,789					1,789		26	$ 1,815
Other comprehensive loss, net of tax (Note 18)	36									46	46		(10)
Issuance of common stock	10				10						10
Employee benefits trust activity	34				32				2		34
Repurchases of common stock (Note 17)	(641)							(641)			(641)
Cash dividends on common stock (Note 17)	(782)					(782)					(782)
Distributions to noncontrolling interests	(26)												(26)
Share-based awards	88				1			87			88
Fair value adjustment of redeemable noncontrolling interests	(231)		231		(231)						(231)
Other shareholder transactions	1		3		15						15		(14)
BALANCE, AT THE END OF THE PERIOD at Dec. 31, 2020	8,707			556	1,617	15,419		(7,779)	0	(1,982)	7,831		876
Increase (Decrease) in Shareholders' Equity
Redeemable Noncontrolling Interest, Equity, Carrying Amount			282
Net Income (Loss) Attributable to Redeemable Noncontrolling Interest			(13)
Net income	2,164					2,131					2,131		46	2,177
Other comprehensive loss, net of tax (Note 18)	406									411	411		(5)
Issuance of common stock	1				1						1
Repurchases of common stock (Note 17)	(1,402)							(1,402)			(1,402)
Cash dividends on common stock (Note 17)	(809)					(809)					(809)
Distributions to noncontrolling interests	(28)												(28)
Share-based awards	56				1			55			56
Fair value adjustment of redeemable noncontrolling interests	(97)		97		(97)						(97)
Other shareholder transactions	24				21						(24)		0
BALANCE, AT THE END OF THE PERIOD at Dec. 31, 2021	9,035			556	1,543	16,741		(9,123)	0	(1,571)	8,146		889
Increase (Decrease) in Shareholders' Equity
Redeemable Noncontrolling Interest, Equity, Carrying Amount	366		366
Net Income (Loss) Attributable to Redeemable Noncontrolling Interest			(24)
Net income	2,183					2,151					2,151		56	$ 2,207
Other comprehensive loss, net of tax (Note 18)	(359)									(319)	(319)		(40)
Issuance of common stock	8				8						8
Repurchases of common stock (Note 17)	(374)							(374)			(374)
Cash dividends on common stock (Note 17)	(855)					(855)					(855)
Distributions to noncontrolling interests	(38)												(38)
Share-based awards	80				3			77			80
Acquisition of business (Note 2)	111												111
Fair value adjustment of redeemable noncontrolling interests	104		(104)		104						104
Other shareholder transactions	48				29			5			34		14
BALANCE, AT THE END OF THE PERIOD at Dec. 31, 2022	9,967			$ 556	$ 1,687	$ 18,037		$ (9,415)	$ 0	$ (1,890)	$ 8,975		$ 992
Increase (Decrease) in Shareholders' Equity
Redeemable Noncontrolling Interest, Equity, Carrying Amount	$ 258		$ 258