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

ACQUISITIONS

9 Months Ended

Sep. 30, 2024

NOTE 15. ACQUISITIONS

Acquisitions for the nine months ended September 30, 2024 and 2023, were as follows:


Entity Acquired (Dollars in millions)	Date of Acquisition	Additional Percent Interest Acquired	Payments to Former Owners		Acquisition Related Debt Retirements		Total Purchase Consideration			Type of Acquisition(1)	Goodwill Acquired		Intangibles Recognized(2)
2024
Engendren Corporation	02/16/24	100%	$	65	$	—	$	65		COMB	$	33	$	8
2023 (3)
Hydrogenics Corporation	06/29/23	19%	$	287	$	48	$	335	(4)	EQUITY	$	—	$	—
Teksid Hierro de Mexico, S.A. de C.V.	04/03/23	100%	143		—		143			COMB	18		—


















(1) All results from acquired entities were included in segment results subsequent to the acquisition date. Previously consolidated entities were accounted for as equity transactions (EQUITY). Newly consolidated entities were accounted for as business combinations (COMB).
(2) Intangible assets acquired in the business combination were mostly customer and trade name related.
(3) See NOTE 24, "ACQUISITIONS," of the Notes to the Consolidated Financial Statements of our 2023 Form 10-K for additional information on prior year acquisitions.
(4) Hydrogenics entered into three non-interest-bearing promissory notes with $175 million paid on July 31, 2023, and the remaining $160 million due in three installments through 2025.