Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS (USD $)
In Millions, unless otherwise specified
Dec. 31, 2013
Dec. 31, 2012
Current assets    
Cash and cash equivalents $ 2,699 $ 1,369
Marketable securities (Note 5) 150 247
Total cash, cash equivalents and marketable securities 2,849 1,616
Accounts and notes receivable, net    
Trade and other 2,362 2,235
Nonconsolidated equity investees 287 240
Inventories (Note 7) 2,381 2,221
Prepaid expenses and other current assets 760 855
Total current assets 8,639 7,167
Long-term assets    
Property, plant and equipment, net (Note 8) 3,156 2,724
Investments and advances related to equity method investees (Note 3) 931 897
Goodwill (Note 9) 461 445
Other intangible assets, net (Note 9) 357 369
Prepaid pensions (Note 12) 514 182
Other assets 670 764
Total assets 14,728 12,548
Current liabilities    
Loans payable (Note 10) 17 16
Accounts payable (principally trade) 1,557 1,339
Current maturities of long-term debt (Note 10) 51 61
Current portion of accrued product warranty (Note 11) 360 386
Accrued compensation, benefits and retirement costs 433 400
Deferred revenue 285 215
Taxes payable (including taxes on income) 99 173
Other accrued expenses 566 546
Total current liabilities 3,368 3,136
Long-term liabilities    
Long-term debt (Note 10) 1,672 698
Pensions (Note 12) 232 244
Postretirement benefits other than pensions (Note 12) 356 432
Other liabilities and deferred revenue (Note 13) 1,230 1,064
Total liabilities 6,858 5,574
Commitments and contingencies (Note 14) 0 0
Cummins Inc. shareholders’ equity (Note 15)    
Common stock, $2.50 par value, 500 shares authorized, 222.3 and 222.4 shares issued 2,099 2,058
Retained earnings 8,406 7,343
Treasury stock, at cost, 35.6 and 32.6 shares (2,195) (1,830)
Common stock held by employee benefits trust, at cost, 1.3 and 1.5 shares (16) (18)
Accumulated other comprehensive loss (Note 16)    
Defined benefit postretirement plans (611) (794)
Other (173) (156)
Total accumulated other comprehensive loss (784) (950)
Total Cummins Inc. shareholders' equity 7,510 6,603
Noncontrolling interests (Note 18) 360 371
Total equity 7,870 6,974
Total liabilities and equity $ 14,728 $ 12,548