Quarterly report [Sections 13 or 15(d)]

CONDENSED CONSOLIDATED STATEMENTS OF NET INCOME

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CONDENSED CONSOLIDATED STATEMENTS OF NET INCOME - USD ($)
shares in Millions, $ in Millions
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Income Statement [Abstract]    
NET SALES (Notes 1 and 2) $ 8,174 $ 8,403
Cost of sales 6,019 6,362
GROSS MARGIN 2,155 2,041
OPERATING EXPENSES AND INCOME    
Selling, general and administrative expenses 771 839
Research, development and engineering expenses 344 369
Equity, royalty and interest income from investees (Note 4) 131 123
Other operating expense, net 37 33
OPERATING INCOME 1,134 923
Interest expense 77 89
Other income, net (Note 14) 60 1,387
INCOME BEFORE INCOME TAXES 1,117 2,221
Income tax expense (Note 5) 267 193
CONSOLIDATED NET INCOME 850 2,028
Less: Net income attributable to noncontrolling interests 26 35
NET INCOME ATTRIBUTABLE TO CUMMINS INC. $ 824 $ 1,993
EARNINGS PER COMMON SHARE ATTRIBUTABLE TO CUMMINS INC.    
Basic (in dollars per share) $ 5.99 $ 14.10
Diluted (in dollars per share) $ 5.96 $ 14.03
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING    
Basic (in shares) 137.6 141.3
Dilutive effect of stock compensation awards (in shares) 0.7 0.8
Diluted (in shares) 138.3 142.1