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

Quarterly report pursuant to Section 13 or 15(d)

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- Document and Entity Information
Financial Statements
Notes to Financial Statements
Notes Tables
Notes Details

PENSION AND OTHER POSTRETIREMENT BENEFITS (Details)

v2.4.1.9

PENSION AND OTHER POSTRETIREMENT BENEFITS (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 29, 2015	Mar. 30, 2014
Pension - U.S. Plans
Components of Net Periodic Benefit Cost
Service cost	$ 20	$ 17
Interest cost	25	26
Expected return on plan assets	(47)	(44)
Recognized net actuarial loss	11	8
Net periodic benefit cost	9	7
Pension - U.K. Plans
Components of Net Periodic Benefit Cost
Service cost	7	6
Interest cost	14	16
Expected return on plan assets	(23)	(22)
Recognized net actuarial loss	9	7
Net periodic benefit cost	7	7
Other Postretirement Benefits
Components of Net Periodic Benefit Cost
Interest cost	4	4
Recognized net actuarial loss	1
Net periodic benefit cost	$ 5	$ 4

- Definition

The amount of gains or losses recognized in net periodic benefit cost.

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- Definition

An amount calculated as a basis for determining the extent of delayed recognition of the effects of changes in the fair value of assets. The expected return on plan assets is determined based on the expected long-term rate of return on plan assets and the market-related value of plan assets.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 715

-SubTopic 30

-Glossary Expected Return on Plan Assets

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- Definition

The increase in a defined benefit pension plan's projected benefit obligation or a defined benefit postretirement plan's accumulated postretirement benefit obligation due to the passage of time.

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- Definition

The total amount of net periodic benefit cost for defined benefit plans for the period. Periodic benefit costs include the following components: service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) due to settlements or curtailments.

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- Definition

The actuarial present value of benefits attributed by the pension benefit formula to services rendered by employees during the period. The portion of the expected postretirement benefit obligation attributed to employee service during the period. The service cost component is a portion of the benefit obligation and is unaffected by the funded status of the plan.

+ References

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