Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY

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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_NetIncomeinTotalEquityexcludingNoncontrollingInterestAmount
Increase (Decrease) in Shareholders' Equity                    
Redeemable Noncontrolling Interest, Equity, Carrying Amount   $ 366                
BALANCE, AT THE BEGINNING OF THE PERIOD at Dec. 31, 2021 $ 9,035   $ 556 $ 1,543 $ 16,741 $ (9,123) $ (1,571) $ 8,146 $ 889  
Increase (Decrease) in Shareholders' Equity                    
Net Income (Loss) Attributable to Redeemable Noncontrolling Interest   (24)                
Net income 2,183       2,151     2,151 56 $ 2,207
Other Comprehensive Income, Other, Net of Tax (359)           (319) (319) (40)  
Issuance of common stock 8     8       8    
Repurchases of common stock (Note 15) (374)         (374)   (374)    
Cash dividends on common stock (Note 15) (855)       (855)     (855)    
Distributions to noncontrolling interests (38)               (38)  
Share-based awards 80     3   77   80    
Acquisition of business (Note 23) 111             0 111  
Fair value adjustment of redeemable noncontrolling interests 104 (104)   104       104    
Other shareholder transactions 48 (20)   29   5   34 14  
BALANCE, AT THE END OF THE PERIOD at Dec. 31, 2022 9,967   556 1,687 18,037 (9,415) (1,890) 8,975 992  
Increase (Decrease) in Shareholders' Equity                    
Redeemable Noncontrolling Interest, Equity, Carrying Amount 258 258                
Net Income (Loss) Attributable to Redeemable Noncontrolling Interest   (20)                
Net income 840       735     735 125 860
Other Comprehensive Income, Other, Net of Tax (319)           (316) (316) (3)  
Issuance of common stock 3     3       3    
Cash dividends on common stock (Note 15) (921)       (921)     (921)    
Distributions to noncontrolling interests (57)               (57)  
Share-based awards 48     (4)   52   48    
Fair value adjustment of redeemable noncontrolling interests (33) 33   (33)       (33)    
Noncontrolling Interest, Decrease from Redemptions or Purchase of Interests   (271)                
Impact on equity from initial public offering of subsidiary 282     285       285 (3)  
Other shareholder transactions 74   70   4   74 0  
BALANCE, AT THE END OF THE 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                    
Redeemable Noncontrolling Interest, Equity, Carrying Amount   0                
Net income 4,068       3,946     3,946 122 $ 4,068
Other Comprehensive Income, Other, Net of Tax (316)           (300) (300) (16)  
Issuance of common stock 7     7       7    
Cash dividends on common stock (Note 15) (969)       (969)     (969)    
Distributions to noncontrolling interests (71)               (71)  
Share-based awards 133     (7)   140   133    
Impact on equity from divestiture of subsidiary (1,490)         (1,532) 61 (1,471) (19)  
Other shareholder transactions 42     72   3   75 (33)  
BALANCE, AT THE END OF THE PERIOD at Dec. 31, 2024 $ 11,308   $ 556 $ 2,080 $ 20,828 $ (10,748) $ (2,445) $ 10,271 $ 1,037  
Increase (Decrease) in Shareholders' Equity                    
Redeemable Noncontrolling Interest, Equity, Carrying Amount   $ 0