Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Sep. 27, 2015
Dec. 31, 2014
Current assets    
Cash and cash equivalents $ 1,688 $ 2,301
Marketable securities (Note 7) 35 93
Total cash, cash equivalents and marketable securities 1,723 2,394
Trade and other 2,915 2,744
Nonconsolidated equity investees 244 202
Inventories (Note 8) 3,059 2,866
Prepaid expenses and other current assets 921 849
Total current assets 8,862 9,055
Long-term assets    
Property, plant and equipment 7,262 7,123
Accumulated depreciation (3,545) (3,437)
Property, plant and equipment, net 3,717 3,686
Investments and advances related to equity method investees 959 981
Goodwill 481 479
Other intangible assets, net 337 343
Pension assets 785 637
Other assets 656 595
Total assets 15,797 15,776
Current liabilities    
Accounts payable (principally trade) 1,824 1,881
Loans payable 27 86
Current portion of accrued product warranty (Note 9) 388 363
Accrued compensation, benefits and retirement costs 505 508
Current portion of deferred revenue 414 401
Other accrued expenses 779 759
Current maturities of long-term debt (Note 10) 31 23
Total current liabilities 3,968 4,021
Long-term liabilities    
Long-term debt (Note 10) 1,595 1,589
Postretirement benefits other than pensions 347 369
Pensions 292 289
Other liabilities and deferred revenue 1,514 1,415
Total liabilities $ 7,716 $ 7,683
Commitments and contingencies (Note 11)
Cummins Inc. shareholders' equity    
Common stock, $2.50 par value, 500 shares authorized, 222.3 and 222.3 shares issued $ 2,173 $ 2,139
Retained earnings 10,331 9,545
Treasury stock, at cost, 44.7 and 40.1 shares (3,486) (2,844)
Common stock held by employee benefits trust, at cost, 1.0 and 1.1 shares (11) (13)
Accumulated other comprehensive loss (Note 12)    
Total accumulated other comprehensive loss (1,258) (1,078)
Total Cummins Inc. shareholders' equity 7,749 7,749
Noncontrolling interests 332 344
Total equity 8,081 8,093
Total liabilities and equity $ 15,797 $ 15,776