Quarterly report pursuant to Section 13 or 15(d)

SUBSEQUENT EVENT SUBSEQUENT EVENTS

v3.5.0.2
SUBSEQUENT EVENT SUBSEQUENT EVENTS
9 Months Ended
Oct. 02, 2016
Subsequent Events [Abstract]  
Subsequent Events
NOTE 15. SUBSEQUENT EVENT
Acquisition of Cummins Pacific, LLC
In October 2016, we acquired the remaining 50 percent interest in Cummins Pacific, LLC from the former distributor principal. The purchase consideration was $97 million, which included $17 million in cash and an additional $66 million paid to eliminate outstanding debt. The remaining $14 million will be paid in future periods, subject to customary purchase price adjustments. We will recognize a gain of $13 million on the fair value adjustment in the fourth quarter of 2016, resulting from this acquisition.
This is the final acquisition of the plan we announced on September 17, 2013, to acquire the equity that we did not already own in most of our partially-owned U.S. and Canadian distributors.