Quarterly report [Sections 13 or 15(d)]

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Sep. 30, 2026
Dec. 31, 2025
Current assets    
Cash and cash equivalents $ 3,571 $ 2,845
Marketable securities (Note 6) 614 764
Total cash, cash equivalents and marketable securities 4,185 3,609
Accounts and notes receivable, net 6,638 5,818
Inventories (Note 7) 6,811 5,822
Prepaid expenses and other current assets 1,741 1,676
Total current assets 19,375 16,925
Long-term assets    
Property, plant and equipment 13,500 12,919
Accumulated depreciation (6,386) (5,961)
Property, plant and equipment, net 7,114 6,958
Investments and advances related to equity method investees 2,384 2,133
Goodwill 2,221 2,224
Other intangible assets, net 2,012 2,167
Pension assets 1,011 1,033
Other assets (Note 8) 2,469 2,552
Total assets 36,586 33,992
Current liabilities    
Accounts payable (principally trade) 4,879 3,800
Loans payable (Note 9) 383 313
Commercial paper (Note 9) 348 353
Current maturities of long-term debt (Note 9) 154 94
Accrued compensation, benefits and retirement costs 965 825
Current portion of accrued product warranty (Note 10) 664 693
Current portion of deferred revenue (Note 2) 1,690 1,606
Other accrued expenses (Note 8) 2,049 1,926
Total current liabilities 11,132 9,610
Long-term liabilities    
Long-term debt (Note 9) 6,634 6,792
Deferred revenue (Note 2) 1,167 1,054
Other liabilities (Note 8) 3,307 3,128
Total liabilities 22,240 20,584
Commitments and contingencies (Note 11)
Cummins Inc. shareholders’ equity    
Common stock, $2.50 par value, 500 shares authorized, 222.5 and 222.5 shares issued 2,649 2,673
Retained earnings 24,488 22,616
Treasury stock, at cost, 85.5 and 84.4 shares (11,451) (10,662)
Accumulated other comprehensive loss (Note 12) (2,355) (2,278)
Total Cummins Inc. shareholders’ equity 13,331 12,349
Noncontrolling interests 1,015 1,059
Total equity 14,346 13,408
Total liabilities and equity $ 36,586 $ 33,992