Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Oct. 02, 2016
Dec. 31, 2015
Current assets    
Cash and cash equivalents $ 1,251 $ 1,711
Marketable securities (Note 6) 250 100
Total cash, cash equivalents and marketable securities 1,501 1,811
Accounts and notes receivable, net    
Trade and other 2,680 2,640
Nonconsolidated equity investees 193 180
Inventories (Note 7) 2,820 2,707
Prepaid expenses and other current assets 600 609
Total current assets 7,794 7,947
Long-term assets    
Property, plant and equipment 7,460 7,322
Accumulated depreciation (3,783) (3,577)
Property, plant and equipment, net 3,677 3,745
Investments and advances related to equity method investees 1,077 975
Goodwill 482 482
Other intangible assets, net 319 328
Pension assets 773 735
Other assets 1,014 922
Total assets 15,136 15,134
Current liabilities    
Accounts payable (principally trade) 1,781 1,706
Loans payable (Note 8) 48 24
Commercial paper (Note 8) 273 0
Accrued compensation, benefits and retirement costs 393 409
Current portion of accrued product warranty (Note 9) 333 359
Current portion of deferred revenue 460 403
Other accrued expenses 985 863
Current maturities of long-term debt (Note 8) 35 39
Total current liabilities 4,308 3,803
Long-term liabilities    
Long-term debt (Note 8) 1,593 1,576
Postretirement benefits other than pensions 326 349
Pensions 301 298
Other liabilities and deferred revenue 1,344 1,358
Total liabilities 7,872 7,384
Commitments and contingencies (Note 10)
Cummins Inc. shareholders' equity    
Common stock, $2.50 par value, 500 shares authorized, 222.4 and 222.4 shares issued 2,209 2,178
Retained earnings 10,833 10,322
Treasury stock, at cost, 54.1 and 47.2 shares (4,468) (3,735)
Common stock held by employee benefits trust, at cost, 0.7 and 0.9 shares (8) (11)
Accumulated other comprehensive loss    
Accumulated other comprehensive loss (Note 11) (1,632) (1,348)
Total Cummins Inc. shareholders' equity 6,934 7,406
Noncontrolling interests 330 344
Total equity 7,264 7,750
Total liabilities and equity $ 15,136 $ 15,134