Cummins Inc. Quarterly report pursuant to Section 13 or 15(d)

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

3 Months Ended

Mar. 31, 2023

NOTE 13. ACCUMULATED OTHER COMPREHENSIVE LOSS

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 December 31, 2022	$	(427)	$	(1,552)	$	89	$	(1,890)
Other comprehensive income (loss) before reclassifications
Before-tax amount	(13)		75		(3)		59		$	3	$	62
Tax benefit	2		4		1		7		—		7
After-tax amount	(11)		79		(2)		66		3		69
Amounts reclassified from accumulated other comprehensive income (loss)(1)	2		—		(1)		1		—		1

Net current period other comprehensive (loss) income	(9)		79		(3)		67		$	3	$	70
Balance at March 31, 2023	$	(436)	$	(1,473)	$	86	$	(1,823)

Balance at December 31, 2021	$	(346)	$	(1,208)	$	(17)	$	(1,571)
Other comprehensive income (loss) before reclassifications
Before-tax amount	14		11		36		61		$	(8)	$	53
Tax (expense) benefit	(4)		1		(7)		(10)		—		(10)
After-tax amount	10		12		29		51		(8)		43
Amounts reclassified from accumulated other comprehensive income (loss)(1)	6		—		(1)		5		—		5
Net current period other comprehensive income (loss)	16		12		28		56		$	(8)	$	48
Balance at March 31, 2022	$	(330)	$	(1,196)	$	11	$	(1,515)

(1) Amounts are net of tax. Reclassifications out of accumulated other comprehensive income (loss) and the related tax effects are immaterial for separate disclosure.