DEBT (Details) (USD $)
In Millions, unless otherwise specified |
Mar. 29, 2015
|
Dec. 31, 2014
|
||||
---|---|---|---|---|---|---|
Long-term debt | ||||||
Unamortized discount | $ (47)us-gaap_DebtInstrumentUnamortizedDiscount | $ (47)us-gaap_DebtInstrumentUnamortizedDiscount | ||||
Fair value adjustment due to hedge on indebtedness | 73us-gaap_DeferredGainLossOnDiscontinuationOfFairValueHedge | 65us-gaap_DeferredGainLossOnDiscontinuationOfFairValueHedge | ||||
Capital leases | 82us-gaap_CapitalLeaseObligationsNoncurrent | 87us-gaap_CapitalLeaseObligationsNoncurrent | ||||
Total long-term debt | 1,635us-gaap_DebtAndCapitalLeaseObligations | 1,612us-gaap_DebtAndCapitalLeaseObligations | ||||
Less: Current maturities of long-term debt | (33)us-gaap_LongTermDebtAndCapitalLeaseObligationsCurrent | (23)us-gaap_LongTermDebtAndCapitalLeaseObligationsCurrent | ||||
Long-term debt | 1,602us-gaap_LongTermDebtAndCapitalLeaseObligations | 1,589us-gaap_LongTermDebtAndCapitalLeaseObligations | ||||
Principal payments required on long-term debt | ||||||
2015 | 25us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear | |||||
2016 | 39us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths | |||||
2017 | 15us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo | |||||
2018 | 16us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree | |||||
2019 | 11us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour | |||||
Fair value | ||||||
Fair value of total debt | 2,043us-gaap_LongTermDebtFairValue | [1] | 1,993us-gaap_LongTermDebtFairValue | [1] | ||
Carrying value of total debt | 1,706us-gaap_DebtInstrumentCarryingAmount | 1,698us-gaap_DebtInstrumentCarryingAmount | ||||
Senior notes, 3.65%, due 2023 | ||||||
Long-term debt | ||||||
Long-term debt facilities |
500us-gaap_LongTermDebt / us-gaap_DebtInstrumentAxis = cmi_SeniorNotes3.65PercentDue2023Member |
500us-gaap_LongTermDebt / us-gaap_DebtInstrumentAxis = cmi_SeniorNotes3.65PercentDue2023Member |
||||
Debt instrument interest rate (as a percent) |
3.65%us-gaap_DebtInstrumentInterestRateStatedPercentage / us-gaap_DebtInstrumentAxis = cmi_SeniorNotes3.65PercentDue2023Member |
|||||
Debentures, 6.75%, due 2027 | ||||||
Long-term debt | ||||||
Long-term debt facilities |
58us-gaap_LongTermDebt / us-gaap_DebtInstrumentAxis = cmi_Debentures6.75PercentDue2027Member |
58us-gaap_LongTermDebt / us-gaap_DebtInstrumentAxis = cmi_Debentures6.75PercentDue2027Member |
||||
Debt instrument interest rate (as a percent) |
6.75%us-gaap_DebtInstrumentInterestRateStatedPercentage / us-gaap_DebtInstrumentAxis = cmi_Debentures6.75PercentDue2027Member |
|||||
Debentures, 7.125%, due 2028 | ||||||
Long-term debt | ||||||
Long-term debt facilities |
250us-gaap_LongTermDebt / us-gaap_DebtInstrumentAxis = cmi_Debentures7.125PercentDue2028Member |
250us-gaap_LongTermDebt / us-gaap_DebtInstrumentAxis = cmi_Debentures7.125PercentDue2028Member |
||||
Debt instrument interest rate (as a percent) |
7.125%us-gaap_DebtInstrumentInterestRateStatedPercentage / us-gaap_DebtInstrumentAxis = cmi_Debentures7.125PercentDue2028Member |
|||||
Senior notes, 4.875%, due 2043 | ||||||
Long-term debt | ||||||
Long-term debt facilities |
500us-gaap_LongTermDebt / us-gaap_DebtInstrumentAxis = cmi_SeniorNotes4.875PercentDue2043Member |
500us-gaap_LongTermDebt / us-gaap_DebtInstrumentAxis = cmi_SeniorNotes4.875PercentDue2043Member |
||||
Debt instrument interest rate (as a percent) |
4.875%us-gaap_DebtInstrumentInterestRateStatedPercentage / us-gaap_DebtInstrumentAxis = cmi_SeniorNotes4.875PercentDue2043Member |
|||||
Debentures, 5.65%, due 2098 (effective interest rate 7.48%) | ||||||
Long-term debt | ||||||
Long-term debt facilities |
165us-gaap_LongTermDebt / us-gaap_DebtInstrumentAxis = cmi_Debentures5.65PercentDue2098Member |
165us-gaap_LongTermDebt / us-gaap_DebtInstrumentAxis = cmi_Debentures5.65PercentDue2098Member |
||||
Debt instrument interest rate (as a percent) |
5.65%us-gaap_DebtInstrumentInterestRateStatedPercentage / us-gaap_DebtInstrumentAxis = cmi_Debentures5.65PercentDue2098Member |
|||||
Effective interest rate (as a percent) |
7.48%us-gaap_DebtInstrumentInterestRateEffectivePercentage / us-gaap_DebtInstrumentAxis = cmi_Debentures5.65PercentDue2098Member |
|||||
Credit facilities related to consolidated joint ventures | ||||||
Long-term debt | ||||||
Long-term debt facilities |
3us-gaap_LongTermDebt / us-gaap_DebtInstrumentAxis = cmi_CreditFacilityRelatedToJointVenturesMember |
3us-gaap_LongTermDebt / us-gaap_DebtInstrumentAxis = cmi_CreditFacilityRelatedToJointVenturesMember |
||||
Other long-term debt | ||||||
Long-term debt | ||||||
Long-term debt facilities |
$ 51us-gaap_LongTermDebt / us-gaap_DebtInstrumentAxis = cmi_OtherLongTermDebtMember |
$ 31us-gaap_LongTermDebt / us-gaap_DebtInstrumentAxis = cmi_OtherLongTermDebtMember |
||||
|
X | ||||||||||
- Definition
Amount equal to the present value (the principal) at the beginning of the lease term of minimum lease payments during the lease term (excluding that portion of the payments representing executory costs such as insurance, maintenance, and taxes to be paid by the lessor, together with any profit thereon) net of payments or other amounts applied to the principal, through the balance sheet date and due to be paid more than one year (or one operating cycle, if longer) after the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Sum of the carrying values as of the balance sheet date of all debt, including all short-term borrowings, long-term debt, and capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of long-term debt before deduction of unamortized discount or premium. Includes, but is not limited to, notes payable, bonds payable, commercial loans, mortgage loans, convertible debt, subordinated debt and other types of debt, with initial maturities beyond one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Effective interest rate for the funds borrowed under the debt agreement considering interest compounding and original issue discount or premium. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Contractual interest rate for funds borrowed, under the debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The amount of debt discount that was originally recognized at the issuance of the instrument that has yet to be amortized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount as of the balance sheet date of the unamortized adjustment to the carrying value of an interest-bearing hedged item made under an effective fair value hedge that is amortized upon discontinuation of the fair value hedge. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Carrying amount of long-term debt, net of unamortized discount or premium, including current and noncurrent amounts. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of long-term debt and capital lease obligation due after one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of long-term debt and capital leases due within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The fair value amount of long-term debt whether such amount is presented as a separate caption or as a parenthetical disclosure. Additionally, this element may be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. The element may be used in both the balance sheet and disclosure in the same submission. No definition available.
|
X | ||||||||||
- Definition
Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing in the next fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing in the fourth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing in the third fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing in the second fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing in the remainder of the fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|