Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Jun. 28, 2015
Dec. 31, 2014
Current assets    
Cash and cash equivalents $ 1,760 $ 2,301
Marketable securities (Note 6) 89 93
Total cash, cash equivalents and marketable securities 1,849 2,394
Trade and other 3,118 2,744
Nonconsolidated equity investees 304 202
Inventories (Note 7) 2,986 2,866
Prepaid expenses and other current assets 746 849
Total current assets 9,003 9,055
Long-term assets    
Property, plant and equipment 7,151 7,123
Accumulated depreciation (3,498) (3,437)
Property, plant and equipment, net 3,653 3,686
Investments and advances related to equity method investees 995 981
Goodwill 473 479
Other intangible assets, net 339 343
Prepaid pensions 784 637
Other assets 631 595
Total assets 15,878 15,776
Current liabilities    
Accounts payable (principally trade) 1,974 1,881
Loans payable 70 86
Current portion of accrued product warranty (Note 9) 405 363
Accrued compensation, benefits and retirement costs 432 508
Deferred revenue 402 401
Other accrued expenses 739 759
Current maturities of long-term debt (Note 8) 31 23
Total current liabilities 4,053 4,021
Long-term liabilities    
Long-term debt (Note 8) 1,576 1,589
Postretirement benefits other than pensions 351 369
Pensions 291 289
Other liabilities and deferred revenue 1,393 1,415
Total liabilities 7,664 7,683
Cummins Inc. shareholders' equity    
Common stock, $2.50 par value, 500 shares authorized, 222.3 and 222.3 shares issued 2,164 2,139
Retained earnings 10,123 9,545
Treasury stock, at cost, 43.7 and 40.1 shares (3,350) (2,844)
Common stock held by employee benefits trust, at cost, 1.0 and 1.1 shares (12) (13)
Accumulated other comprehensive loss (Note 11)    
Total accumulated other comprehensive loss (1,071) (1,078)
Total Cummins Inc. shareholders' equity 7,854 7,749
Noncontrolling interests 360 344
Total equity 8,214 8,093
Total liabilities and equity $ 15,878 $ 15,776