Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY

v3.24.2.u1
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($)
$ in Millions
Total
Redeemable Noncontrolling Interest
Common Stock
Additional Paid-in Capital
Retained Earnings
Treasury Stock, Common
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) $ 3.14                  
Redeemable noncontrolling interests (Note 15) at Dec. 31, 2022   $ 258                
BALANCE AT BEGINNING OF PERIOD at Dec. 31, 2022 $ 9,967   $ 556 $ 1,687 $ 18,037 $ (9,415) $ (1,890) $ 8,975 $ 992  
Increase (Decrease) in Shareholders' Equity                    
Net Income (Loss) Attributable to Redeemable Noncontrolling Interest   (20)                
CONSOLIDATED NET INCOME 1,543       1,510     1,510 53 $ 1,563
Other Comprehensive Income, Other, Net of Tax (26)           (27) (27) 1  
Issuance of common stock 2     2       2    
Cash dividends on common stock (445)       (445)     (445)    
Distributions to noncontrolling interests (24)               (24)  
Share-based awards 28     (4)   32   28    
Fair value adjustment of redeemable noncontrolling interests (33) 33   (33)       (33)    
Acquisition of redeemable noncontrolling interests (Note 15)   (271)                
Sale of Atmus stock (Note 14) 282     285       285 (3)  
Other shareholder transactions 42     (39)   (3)   42 0  
Balance at End of Period Redeemable Noncontrolling Interest, Equity, Carrying Amount at Jun. 30, 2023   0                
BALANCE AT END OF PERIOD at Jun. 30, 2023 $ 11,356   556 1,976 19,102 (9,380) (1,917) 10,337 1,019  
Statement of Stockholders' Equity [Abstract]                    
CASH DIVIDENDS DECLARED PER COMMON SHARE (in dollars per share) $ 1.57                  
Redeemable noncontrolling interests (Note 15) at Mar. 31, 2023   261                
BALANCE AT BEGINNING OF PERIOD at Mar. 31, 2023 $ 10,620   556 1,674 18,605 (9,389) (1,823) 9,623 997  
Increase (Decrease) in Shareholders' Equity                    
Net Income (Loss) Attributable to Redeemable Noncontrolling Interest   (12)                
CONSOLIDATED NET INCOME 737       720     720 29 749
Other Comprehensive Income, Other, Net of Tax (96)           (94) (94) (2)  
Issuance of common stock 2     2       2    
Cash dividends on common stock (223)       (223)     (223)    
Distributions to noncontrolling interests (2)               (2)  
Share-based awards 8     1   7   8    
Fair value adjustment of redeemable noncontrolling interests (22) 22   (22)       (22)    
Acquisition of redeemable noncontrolling interests (Note 15)   (271)                
Sale of Atmus stock (Note 14) 282     285       285 (3)  
Other shareholder transactions 38     36   2   38    
Balance at End of Period Redeemable Noncontrolling Interest, Equity, Carrying Amount at Jun. 30, 2023   0                
BALANCE AT END OF PERIOD at Jun. 30, 2023 $ 11,356   556 1,976 19,102 (9,380) (1,917) 10,337 1,019  
Statement of Stockholders' Equity [Abstract]                    
CASH DIVIDENDS DECLARED PER COMMON SHARE (in dollars per share) $ 3.36                  
Redeemable noncontrolling interests (Note 15) at Dec. 31, 2023   0                
BALANCE AT BEGINNING OF PERIOD at Dec. 31, 2023 $ 9,904   556 2,008 17,851 (9,359) (2,206) 8,850 1,054  
Increase (Decrease) in Shareholders' Equity                    
CONSOLIDATED NET INCOME 2,780       2,719     2,719 61 2,780
Other Comprehensive Income, Other, Net of Tax (195)           (190) (190) (5)  
Issuance of common stock 1     1       1    
Cash dividends on common stock (469)       (469)     (469)    
Distributions to noncontrolling interests (33)               (33)  
Share-based awards 85     (8)   93   85    
Divestiture of Atmus (Note 14) (1,490)         (1,532) 61 (1,471) (19)  
Other shareholder transactions (7)     (25)   (1)   26 33  
Balance at End of Period Redeemable Noncontrolling Interest, Equity, Carrying Amount at Jun. 30, 2024   0                
BALANCE AT END OF PERIOD at Jun. 30, 2024 $ 10,576   556 2,026 20,101 (10,797) (2,335) 9,551 1,025  
Statement of Stockholders' Equity [Abstract]                    
CASH DIVIDENDS DECLARED PER COMMON SHARE (in dollars per share) $ 1.68                  
Redeemable noncontrolling interests (Note 15) at Mar. 31, 2024   0                
BALANCE AT BEGINNING OF PERIOD at Mar. 31, 2024 $ 10,101   556 2,001 19,605 (10,831) (2,264) 9,067 1,034  
Increase (Decrease) in Shareholders' Equity                    
CONSOLIDATED NET INCOME 752       726     726 26 $ 752
Other Comprehensive Income, Other, Net of Tax (73)           (71) (71) (2)  
Issuance of common stock 1     1       1    
Cash dividends on common stock (230)       (230)     (230)    
Share-based awards 31     (2)   33   31    
Other shareholder transactions (6)     26   1   27 33  
Balance at End of Period Redeemable Noncontrolling Interest, Equity, Carrying Amount at Jun. 30, 2024   $ 0                
BALANCE AT END OF PERIOD at Jun. 30, 2024 $ 10,576   $ 556 $ 2,026 $ 20,101 $ (10,797) $ (2,335) $ 9,551 $ 1,025