|
CONSOLIDATED STATEMENTS OF INCOME (USD $)
In Millions, except Per Share data, unless otherwise specified |
12 Months Ended | |||||
|---|---|---|---|---|---|---|
|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
||||
| NET SALES | $ 19,221us-gaap_SalesRevenueNet | $ 17,301us-gaap_SalesRevenueNet | $ 17,334us-gaap_SalesRevenueNet | [1] | ||
| Cost of sales | 14,360us-gaap_CostOfRevenue | 13,021us-gaap_CostOfRevenue | 12,918us-gaap_CostOfRevenue | |||
| GROSS MARGIN | 4,861us-gaap_GrossProfit | 4,280us-gaap_GrossProfit | 4,416us-gaap_GrossProfit | |||
| OPERATING EXPENSES AND INCOME | ||||||
| Selling, general and administrative expenses | 2,095us-gaap_SellingGeneralAndAdministrativeExpense | 1,817us-gaap_SellingGeneralAndAdministrativeExpense | 1,808us-gaap_SellingGeneralAndAdministrativeExpense | |||
| Research, development and engineering expenses | 754us-gaap_ResearchAndDevelopmentExpense | 713us-gaap_ResearchAndDevelopmentExpense | 728us-gaap_ResearchAndDevelopmentExpense | |||
| Equity, royalty and interest income from investees (Note 3) | 370cmi_EquityRoyaltyAndInterestIncomeFromInvestees | 361cmi_EquityRoyaltyAndInterestIncomeFromInvestees | 384cmi_EquityRoyaltyAndInterestIncomeFromInvestees | |||
| Other operating income (expense), net | (17)us-gaap_OtherOperatingIncomeExpenseNet | (10)us-gaap_OtherOperatingIncomeExpenseNet | (10)us-gaap_OtherOperatingIncomeExpenseNet | |||
| OPERATING INCOME | 2,365us-gaap_OperatingIncomeLoss | 2,101us-gaap_OperatingIncomeLoss | 2,254us-gaap_OperatingIncomeLoss | |||
| Interest income | 23us-gaap_InvestmentIncomeInterest | 27us-gaap_InvestmentIncomeInterest | 25us-gaap_InvestmentIncomeInterest | |||
| Interest expense (Note 9) | 64us-gaap_InterestExpense | 41us-gaap_InterestExpense | 32us-gaap_InterestExpense | |||
| Other income (expense), net | 110us-gaap_OtherNonoperatingIncomeExpense | 32us-gaap_OtherNonoperatingIncomeExpense | 24us-gaap_OtherNonoperatingIncomeExpense | |||
| INCOME BEFORE INCOME TAXES | 2,434us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest | 2,119us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest | 2,271us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest | |||
| Income tax expense (Note 4) | 698us-gaap_IncomeTaxExpenseBenefit | 531us-gaap_IncomeTaxExpenseBenefit | 533us-gaap_IncomeTaxExpenseBenefit | |||
| CONSOLIDATED NET INCOME | 1,736us-gaap_ProfitLoss | 1,588us-gaap_ProfitLoss | 1,738us-gaap_ProfitLoss | |||
| Less: Net income attributable to noncontrolling interests | 85us-gaap_NetIncomeLossAttributableToNoncontrollingInterest | 105us-gaap_NetIncomeLossAttributableToNoncontrollingInterest | 93us-gaap_NetIncomeLossAttributableToNoncontrollingInterest | |||
| NET INCOME ATTRIBUTABLE TO CUMMINS INC. | $ 1,651us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic | $ 1,483us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic | $ 1,645us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic | |||
| EARNINGS PER COMMON SHARE ATTRIBUTABLE TO CUMMINS INC. (Note 18) | ||||||
| Basic (in dollars per share) | $ 9.04us-gaap_EarningsPerShareBasic | $ 7.93us-gaap_EarningsPerShareBasic | $ 8.69us-gaap_EarningsPerShareBasic | |||
| Diluted (in dollars per share) | $ 9.02us-gaap_EarningsPerShareDiluted | $ 7.91us-gaap_EarningsPerShareDiluted | $ 8.67us-gaap_EarningsPerShareDiluted | |||
|
||||||
| X | ||||||||||
|
- Definition
The total of the amount of equity in earnings, royalty income and interest income of unconsolidated subsidiaries and 50 percent or less owned persons. No definition available.
|
| X | ||||||||||
|
- Definition
The aggregate cost of goods produced and sold and services rendered during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses from ongoing operations, after income or loss from equity method investments, but before income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount before accretion (amortization) of purchase discount (premium) of interest income on nonoperating securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of Net Income (Loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Net income after adjustments for dividends on preferred stock (declared in the period) and/or cumulative preferred stock (accumulated for the period). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net result for the period of deducting operating expenses from operating revenues. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The net amount of other income and expense amounts, the components of which are not separately disclosed on the income statement, resulting from ancillary business-related activities (that is, excluding major activities considered part of the normal operations of the business) also known as other nonoperating income (expense) recognized for the period. Such amounts may include: (a) dividends, (b) interest on securities, (c) net gains or losses on securities, (d) unusual costs, (e) gains or losses on foreign exchange transactions, and (f) miscellaneous other income and expense items. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net amount of other operating income and expenses, the components of which are not separately disclosed on the income statement, from items that are associated with the entity's normal revenue producing operations. No definition available.
|
| X | ||||||||||
|
- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate costs incurred (1) in a planned search or critical investigation aimed at discovery of new knowledge with the hope that such knowledge will be useful in developing a new product or service, a new process or technique, or in bringing about a significant improvement to an existing product or process; or (2) to translate research findings or other knowledge into a plan or design for a new product or process or for a significant improvement to an existing product or process whether intended for sale or the entity's use, during the reporting period charged to research and development projects, including the costs of developing computer software up to the point in time of achieving technological feasibility, and costs allocated in accounting for a business combination to in-process projects deemed to have no alternative future use. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total revenue from sale of goods and services rendered during the reporting period, in the normal course of business, reduced by sales returns and allowances, and sales discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate total costs related to selling a firm's product and services, as well as all other general and administrative expenses. Direct selling expenses (for example, credit, warranty, and advertising) are expenses that can be directly linked to the sale of specific products. Indirect selling expenses are expenses that cannot be directly linked to the sale of specific products, for example telephone expenses, Internet, and postal charges. General and administrative expenses include salaries of non-sales personnel, rent, utilities, communication, etc. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|